HANDLER(SZ:300201)2025-09-26 01:58Company Overview - Helen Zhe was established in 2005 and became the first listed company in the aerial work vehicle industry in 2011, with a registered capital of 1.009 billion yuan [1] - The company acquired Shanghai Gelaman International Fire Equipment Co., Ltd. in 2012, entering the military and fire truck sectors [2] Main Business and Products - Key products include aerial work vehicles, emergency power supply vehicles, emergency drainage vehicles, fire trucks, and military special vehicles [2] - The company leads in lightweight, high-altitude, intelligent, and insulated aerial work vehicles, achieving domestic substitution for insulated arms [2] - It has developed a full range of emergency drainage rescue equipment, with drainage capacities from 500 to 6000 cubic meters per hour [3] Strategic Planning (2023-2025) - The company aims to achieve a net profit growth rate of 175%, 285%, and 439% for 2023, 2024, and 2025 respectively, compared to 2022 [5] - The strategic focus is on high-end intelligent equipment manufacturing, with a dual drive of domestic and international market expansion [5] Financial Performance - In 2024, the company achieved a revenue of 1.591 billion yuan, a year-on-year increase of 17.69%, and a net profit of 224 million yuan, up 8.64% [6] - In the first half of 2025, revenue reached 803 million yuan, a growth of approximately 54%, with a net profit of 84 million yuan, up 63% [6] Key Initiatives in 2025 - Increased R&D investment to maintain technological leadership, including the development of high-altitude insulated vehicles and all-terrain platforms [8][9] - Innovative sales strategies led to a significant increase in rental market sales, with orders for insulated vehicles exceeding 100 units [10] - Supply chain improvements resulted in enhanced production efficiency, increasing daily production capacity from 8 to 10 units [11] Strategic Partnerships and Collaborations - A strategic cooperation agreement was signed with China Aneng Group for emergency equipment development and market expansion [14] - The company completed the sale of 100% equity in Shanghai Liangji, generating approximately 22 million yuan in investment income [12] International Market Expansion - In the first half of 2025, overseas orders reached 30 million yuan, significantly exceeding the previous year's total, with international revenue accounting for 2.24% of total revenue [23] Research and Development - R&D investment as a percentage of revenue was 4.33%, 3.73%, and 4.08% for 2022-2024, with 15% of employees in R&D roles [24] - The company is actively developing products for the solid-state battery sector, with a 89% increase in new orders related to energy storage [28] Industry Position - The company is a leading entity in the aerial work vehicle and emergency power supply vehicle sectors, actively participating in drafting national and industry standards [33] - Shanghai Gelaman is recognized as a key player in the fire truck industry, with a comprehensive range of products and strong market competitiveness [34]