China Leadshine Technology (002979)2025-02-27 09:50Group 1: Company Strategy and Market Positioning - The company aims to maintain its focus on motion control while seizing opportunities in the market, particularly in replacing imported products, expanding into mid-to-low-end markets, and deepening its presence in strategic industries such as electronics and robotics [3][4]. - The company plans to enhance its channel network by prioritizing channel sales while supporting direct sales, aiming to better serve customers and expand market reach [6]. Group 2: Financial Performance and Product Margins - The overall gross margin for the company's products was 38.64% for the first nine months of 2024, reflecting a year-on-year increase of 1.33 percentage points [4]. - The company has implemented cost-reduction measures through automation and innovation, which have contributed to maintaining a stable gross margin despite some price concessions to customers [4]. Group 3: Product Development and Market Growth - The company has achieved a market share of 3.8% in the general servo system sector, ranking second among domestic brands, with significant growth in emerging industries such as photovoltaics and robotics [4][5]. - The company has successfully launched high-density frameless torque motors and other components for humanoid robots, with an annual production capacity of 300,000 units [5][6]. Group 4: Industry Demand and Channel Development - Despite a slight decline in demand in the general automation OEM market, orders from traditional industries like semiconductors and logistics have shown stable growth, with expectations of a slight recovery in 2025 [6]. - The company has introduced over 100 new channel partners in 2024, enhancing its ability to meet diverse customer needs and improve service quality [6].