Huarui Precision(SH:688059)2024-08-13 09:34Financial Performance - In the first half of 2024, the company achieved an operating profit of 82.6871 million CNY, a year-on-year increase of 12.96% [2] - The total profit for the same period was 82.6321 million CNY, reflecting a growth of 13.00% year-on-year [2] - The net profit attributable to the parent company was 71.9377 million CNY, up 15.35% year-on-year [2] - The net profit after deducting non-recurring gains and losses was 70.8574 million CNY, with a year-on-year growth of 19.52% [2] Research and Development - As of June 30, 2024, the company held 57 valid authorized patents, including 27 invention patents [3] - R&D expenses for the first half of 2024 amounted to 30.5920 million CNY, a year-on-year increase of 2.33%, accounting for 7.45% of operating revenue [3] - R&D expenses from 2020 to 2023 were 19.7524 million CNY, 24.9108 million CNY, 41.5566 million CNY, and 60.8708 million CNY respectively, showing a consistent upward trend [3] Market Expansion - The company achieved overseas operating revenue of 23.0469 million CNY in the first half of 2024, marking a year-on-year increase of 43.11% [4] - The company actively participated in major domestic exhibitions and academic exchanges to promote its products [4] Product Development - The company has developed 17 types of PVD coating materials and 32 types of PVD coating processes as of June 30, 2024 [4] - It has designed over 70 types of groove structures for various cutting applications, including more than 60 types for CNC blades and over 10 types for integral tools [5] Industry Position - The company ranks second in the production of hard alloy CNC blades in China for 2023, third in 2022, and third in 2021 according to the China Tungsten Industry Association [5] - The company has received multiple awards for its innovative products, including the "Rongge Technology Innovation Award" and the "Golden Edge Award" for various cutting tools from 2017 to 2024 [6][7] Future Trends - The company aims to enhance the performance of CNC blades to meet the increasing demands for high-speed and efficient processing in modern manufacturing [7] - There is a focus on expanding research into difficult-to-machine materials, particularly in the aerospace sector, to address the challenges posed by new materials [7]