SHA GANG GU FEN(SZ:002075)2025-04-18 14:58Export Business Performance - The company's export revenue reached 556 million CNY in 2024, representing a year-on-year growth of 90.22%, accounting for 3.86% of total revenue [2][3] - The company aims to maintain export growth by optimizing product structure and developing high-value specialty steel, while diversifying market presence beyond Southeast Asia [2][3] Industry Outlook and Demand - The steel industry is currently in a cyclical adjustment phase, with a cautiously optimistic outlook for 2025 demand driven by major projects under the "14th Five-Year Plan" and structural growth in downstream sectors like new energy and automotive [3][4] - The company plans to enhance production capacity through smart upgrades and technical innovations, focusing on high-end products to balance capacity utilization and profitability [3][4] Financial Performance - In 2024, the company reported total revenue of 14.416 billion CNY, a decrease of 7.69% year-on-year, with a net profit of 163 million CNY, down 27.75% [4][5] - The net cash flow from operating activities improved to 412 million CNY, reversing from a negative 139 million CNY in 2023 [4][5] Research and Development - The company invested 582 million CNY in R&D in 2024, which is 4.04% of total revenue, focusing on specialty steel and automotive steel [3][4] - Significant breakthroughs in core processes have led to 18 invention patents, and the company aims to continue investing in high-end steel for new energy vehicles and wind power applications [4][5] Strategic Focus - The company is prioritizing quality improvement and transformation during the steel industry's "stock optimization" phase, emphasizing equipment upgrades, green low-carbon transformation, and high-value product development [4][5] - Future growth drivers include optimizing product structure, enhancing supply chain collaboration, and advancing smart manufacturing to reduce costs and improve efficiency [5][6] Environmental Initiatives - The company has invested 3.08 billion CNY in eliminating outdated equipment and upgrading to efficient electric furnaces, achieving a 100% compliance rate for pollutant emissions [6][7] - The company is actively exploring opportunities in energy-saving technologies and has established a nearly 60MW solar project, generating approximately 52 million kWh of green electricity annually [6][7] Competitive Advantages - The company has established a unique competitive advantage in the specialty steel sector, leveraging its location in the Yangtze River Delta and advanced production capabilities to meet diverse customer needs [8][9] - The company’s export growth rate of 90% significantly outpaces the industry average of 22.7%, indicating strong international market competitiveness [8][9]