Wanma Co., Ltd.(SZ:002276)2025-04-29 14:58Group 1: Company Overview and Performance - Zhejiang Wanma Co., Ltd. achieved a revenue of 17.76 billion CNY in 2024, representing a year-on-year growth of 17.46% [14] - The net profit attributable to shareholders decreased by 3.41% to 1.38 billion CNY [14] - The company faced pressure on profitability due to rising copper prices and increased market competition [14] Group 2: Product and Market Insights - The company's robot cable products have competitive advantages, including advanced product design and a TUV-certified laboratory for extensive R&D data [2][3] - The new energy segment saw a compound annual growth rate of 38.26% in charging equipment sales, indicating a recovery in profitability [3] - The market share of ultra-high voltage insulation materials is approximately 20% [9] Group 3: R&D and Innovation - In 2024, the cable segment successfully developed 16 new products, with 9 achieving provincial-level industrial new product certification [7] - The high polymer segment completed significant R&D projects, including high-voltage cable materials that have been recognized for their advanced technology [7] - The company holds multiple patents in cable design and production processes, enhancing its competitive edge [7] Group 4: Future Outlook and Industry Trends - The demand for electricity in China is expected to grow by about 6% in 2025, supporting accelerated investment in the power grid [12] - The share of high-end and special cable products in the cable industry is projected to increase from 30% in 2024 to 35%-40% in 2025 [12] - The company is positioned to benefit from strategic opportunities in emerging industries such as new energy and advanced manufacturing [11]