XZCE(SZ:002534)2024-08-16 12:19Company Overview - Founded in 1955, the company joined the Xizi Elevator Group in 2002 and was listed on the Shenzhen Stock Exchange in 2011. In 2022, it was renamed Xizi Clean Energy Equipment Manufacturing Co., Ltd. [2] - The company primarily engages in the consulting, research and development, production, sales, installation, and project contracting of waste heat boilers and clean environmental energy generation equipment [2]. Business Segments - The company operates four main business segments: waste heat boilers, clean environmental energy equipment, solutions, and spare parts and services [3]. - Key products include various types of waste heat boilers and clean energy equipment such as biomass boilers and nuclear power equipment, serving high-energy-consuming industries like power, steel, and cement [3]. Financial Metrics - As of March 31, 2024, the company's debt-to-asset ratio was approximately 71%, with a decrease of 3% compared to the same period last year [3]. - The company aims to further reduce its debt-to-asset ratio within a reasonable range [3]. International Business Development - The company has expanded its overseas market presence, with products sold to over 100 countries and regions, focusing on Southeast Asia, South America, Africa, and countries along the Belt and Road [3]. - In 2024, the company plans to enhance its overseas sales team and resource investment to support business growth [4]. Manufacturing and Equipment Updates - Current manufacturing bases include Chongxian, Zhuji, and Gouzhuang, with a new manufacturing base in Deqing expected to be operational by 2025 [4]. - The company is committed to upgrading equipment automation and digital management at its headquarters [4]. Strategic Development Directions - Future strategic directions include expanding into overseas markets, leveraging core technologies in the new energy sector, and focusing on the spare parts market due to government policies promoting equipment upgrades [4]. - The company aims to increase its international market share and explore new energy applications [4]. Profitability and Cost Management - The decline in gross profit margins in 2022 and 2023 was primarily due to significant increases in raw material prices [4]. - The company has implemented strategies such as inventory management and price locking to mitigate the impact of raw material price fluctuations [4]. - In 2024, net profit growth was attributed to gains from the disposal of long-term equity investments and improved product delivery margins [4].