Himile Science And Technology(002595)2025-01-24 08:02Business Overview - The company has a global production and service system with subsidiaries in the US, Thailand, Hungary, India, Brazil, Vietnam, Mexico, and Cambodia [2] - Overseas factories account for about 10% of total mold production capacity [2] - The company's tire mold market share exceeds 30%, with higher domestic market share compared to international markets [3] - In 2023, the mold business revenue reached 3.79 billion yuan, with potential for further market share growth [3] Product and Market - Tire mold lifespan depends on material, processing technology, and usage methods, with increasing frequency of pattern updates [2] - The company focuses on mid-to-high-end tire mold market with strong R&D, technology, production capacity, and international layout advantages [3] - Large component business has higher proportion of onshore wind power products compared to offshore wind power [4] - The company has obtained approval for a 65,000-ton high-end casting construction project, with expansion pace depending on market demand [4] Financial Performance - In 2023, the company increased dividend payout to nearly 500 million yuan and conducted mid-year dividend in 2024 [5] - The company plans to optimize investor return mechanisms based on actual operations, development strategies, and shareholder demands [5] Business Development - The machine tool business is in development stage with significant R&D investment and increasing product variety [4] - Machine tool products include five-axis machining centers, precision machining centers, and customized services [5] - The company plans to adopt a combined distribution and direct sales model for machine tool business [5] - CNC systems are selected based on customer preferences, with varying proportions of domestic and international systems [5] Operational Status - All three business segments are operating at full capacity [5] - The company has no current plans for mergers, acquisitions, or asset injections [5] Risk Factors - Exchange rate fluctuations affect exchange gains/losses and may impact revenue and gross margin levels [5]