AT&M(SZ:000969)2025-04-30 07:22Financial Performance - In 2024, the company achieved a revenue of CNY 7.573 billion, with a new contract amount of CNY 8.11 billion and a net profit of CNY 372 million, resulting in a cash flow from operations of CNY 770 million and a debt-to-asset ratio of 42.68% [1] - In Q1 2025, the company reported a revenue of CNY 1.782 billion, a year-on-year decrease of 5.76%, while the net profit was CNY 82.55 million, an increase of 4.95% [2] - The total sales, management, and financial expenses amounted to CNY 110 million, accounting for 6.17% of revenue, a decrease of 13.3% year-on-year [2] Business Segments - The advanced functional materials and devices segment generated CNY 2.803 billion, accounting for 37.01% of total revenue [1] - The special powder metallurgy materials and products segment contributed CNY 2.962 billion, representing 39.10% of total revenue [1] - The high-quality special steel and welding materials segment earned CNY 1.651 billion, making up 21.80% of total revenue [1] - The environmental and high-end technology services segment generated CNY 158 million, accounting for 2.09% of total revenue [1] Non-Crystalline Nanocrystalline Materials - In 2024, the non-crystalline segment signed contracts worth CNY 1.17 billion, a 33% increase year-on-year, with revenue reaching CNY 974 million, up 31.63% [2] - The production and sales volume exceeded 33,000 tons, marking a 65% year-on-year growth [2] - The company is investing in a new project for 10,000 tons of non-crystalline strip material to meet high-end energy-saving transformer market demands [2] Powder High-Speed Steel Project - In 2024, the company signed contracts worth CNY 1.585 billion, with revenue of CNY 1.43 billion, reflecting a year-on-year growth of 5% and 6.89% respectively [4] - The newly built powder high-speed steel production line achieved an output of over 1,000 tons, generating nearly CNY 100 million in sales [4] Nuclear Power and Fusion Technology - The company is actively involved in the nuclear power sector, with 36 nuclear power units approved in the first four years of the 14th Five-Year Plan [5] - The company has developed advanced materials for various nuclear technologies, including tungsten-molybdenum and nickel-based high-temperature alloy strips [5] - The company is the first in China to produce fusion tungsten-copper filters, with a complete technology chain from raw materials to component delivery [6] Export and Market Impact - In 2024, overseas business accounted for 27.26% of total revenue, with approximately 7% of revenue coming from the U.S. market [7] - The recent U.S. tariff policy has had some impact on exports, but the overall effect is manageable [7]