威力传动(300904) - 2025年9月17日投资者关系活动记录表

Company Overview - Silver Power Transmission Technology Co., Ltd. was established in 2003 in Yinchuan, with over 1,000 employees [2] - The main business includes R&D, production, and sales of wind power gearboxes, with key products such as yaw reducers, pitch reducers, and wind power accelerators [2] - The company officially listed on the Shenzhen Stock Exchange's Growth Enterprise Market in August 2023 [2] Product Advantages - The company's accelerators feature advantages such as smooth engagement, low noise, good sealing performance, high efficiency, lightweight, and low cost [3] - High-quality alloy steel is used for gears, with advanced heat treatment processes enhancing wear resistance and fatigue life [3] Smart Factory Development - As of August 2025, the total investment in the wind power accelerator smart factory reached CNY 1.231 billion [3] - Construction of the factory is progressing smoothly, with core production equipment already on-site [3] Production Capacity - The factory is currently in the critical phase of construction, with production capacity gradually increasing [3] - Factors affecting full capacity release include the need for team training, process optimization, and equipment calibration [3] Profitability Expectations - The smart factory is expected to significantly enhance gross profit margins due to increased product value and cost reduction from economies of scale [4] - The wind power accelerator is a high-value component, with anticipated gross margins higher than conventional wind power reducers [4] Market Outlook - The global and Chinese wind power installation scales are continuously expanding, creating strong demand for wind power accelerators [4] - According to GWEC, the global wind power installation capacity is expected to reach 981 GW from 2025 to 2030, averaging 164 GW annually [4] - The Chinese wind power gearbox market is projected to grow from USD 3.136 billion in 2023 to USD 4.263 billion by 2030 [4] International Expansion - The company has established global service points in key markets such as Hamburg, Germany, and Tokyo, Japan [5] - It has successfully entered the supplier lists of international companies like Siemens Gamesa and Adani [5] - The company aims to enhance service capabilities and deepen customer relationships to expand its international market share [5]