Core Viewpoint - The company emphasizes its commitment to technological innovation and development in the high-end grinding and pulling machine sector, showcasing its diverse product offerings and significant R&D investment [1] Group 1: Product Development - The company has developed and produced various types of high-end grinding and pulling machines, including high-precision flat grinding machines, composite vertical grinding machines, guide rail grinders, mortise and tenon pullers, and spiral pullers [1] - The high-precision CNC composite vertical grinding machine has applications in bearing components, aerospace, and mechanical processing, while the mortise and tenon puller is applicable in aerospace, marine, and nuclear power sectors [1] Group 2: Financial Performance - In the first half of 2025, the company's R&D expenses amounted to 22.24 million yuan, representing a year-on-year increase of 29.50%, which accounts for 9.93% of its revenue [1] - The company successfully passed provincial-level new product (new technology) identification and acceptance for three new products in the first half of the year, achieving an overall technology level that meets international advanced standards [1]

证券代码：002903 证券简称：宇环数控 宇环数控机床股份有限公司 投资者关系活动记录表 编号：2025-008 | 投资者关系活 | 特定对象调研 分析师会议 媒体采访 | | --- | --- | | 动类别 | 业绩说明会 新闻发布会 路演活动 | | | 现场参观 其他（电话会议） | | 参与单位名称 | 华福证券、中银国际证券、招商基金、诺安基金、平安基金、天弘基 | | 及人员姓名 | 金、新华基金、国联基金、杭州雀石私募基金、深圳市远望角投资 | | 时间 | 月 日、8 月 日 8 27 28 | | 地点 | 深圳、长沙 | | 上市公司接待 | 副总经理、董事会秘书 易欣 | | 人员姓名 | 证券投资总监、证券事务代表 孙勇 | | | 1、公司半年度经营业绩简介 | | | 年上半年，公司在深耕消费电子和汽车零部件领域的同时， 2025 | | | 加快了在航空航天、精密机械加工、半导体、新材料和机器人等高端 | | | 制造领域的市场布局，进一步优化产品结构，并不断提升制造工艺水 | | | 平与产品质量的稳定性，努力推动业务运营的稳步发展。2025 年 1-6 ...

Group 1: Company Overview and Product Development - The main products of Yuhuan CNC include CNC grinding machines, CNC polishing machines, CNC pullers, and intelligent equipment, widely used in various industries such as consumer electronics, automotive, aerospace, and semiconductors [2] - In 2024, the company aims to enhance service levels for core customers in the consumer electronics sector while focusing on the R&D and production of high-end CNC grinding machines and pullers, capitalizing on the market shift towards high-end, intelligent, and green manufacturing [2] - The company has successfully entered high-end manufacturing fields, with increased orders from sectors like automotive parts and aerospace, highlighting its competitive advantage in import substitution [3] Group 2: Research and Innovation - The R&D of high-end CNC grinding machines is a key focus for the company's technological innovation and development [3] - The company has produced various high-precision grinding machines, achieving significant breakthroughs in high-end equipment import substitution [3] - Future plans include upgrading existing products to meet market demands and innovating high-end equipment through various research projects [3] Group 3: Equity Incentive Plan - The first phase of the 2020 restricted stock incentive plan has been successfully completed, with all performance assessment indicators met [4] - The second phase of the equity incentive plan involves granting a total of 3.64 million shares, with 1.428 million shares already unlocked [4] - The implementation of the equity incentive plan enhances employee motivation and team cohesion, improving the company's talent attraction in the industry [4] Group 4: Product Applications and Market Segments - The company's puller products include high-speed CNC pullers and various series of vertical and horizontal pullers, applicable to both metal and non-metal materials [5] - Key downstream applications for puller products span industries such as automotive, aerospace, wind power, and robotics [5] Group 5: Financial Forecast and Growth Strategy - The company forecasts a revenue growth of 15%-30% and a net profit increase of 100%-200% for 2025 [6][7] - The focus on high-end manufacturing and import substitution aligns with national strategic decisions for economic transformation and development [7] - The company aims to leverage technological innovation and operational improvements to enhance its core competitiveness in the CNC machine tool market [7]