JEMC(SZ:000922)2025-11-05 11:18Company Overview - Harbin Electric Group Jiamusi Electric Motor Co., Ltd. is a key state-owned enterprise with over 80 years of motor production history, recognized as the first electric motor factory in China [3] - The company has a production capacity exceeding 15 million kilowatts annually, with 347 series and nearly 4,000 varieties of motor products covering power ranges from 0.37 to 80,000 kW [4] Strategic Direction - The company focuses on green low-carbon drive systems, emphasizing efficient, intelligent, and sustainable development [5] - It aims to become a world-class electric drive system manufacturer and service provider, guided by the principles of high-quality development and technological innovation [5] Nuclear Power Sector - The company is a major producer of key nuclear-grade motors for China's fourth-generation nuclear technology, specifically the main helium fan for high-temperature gas-cooled reactors [5][6] - It has successfully secured orders for 18 out of 24 main helium fans, with ongoing commitments to timely delivery [8] Financial Performance - As of the end of the reporting period, the company has signed contracts worth CNY 5.147 billion, with expected revenue recognition of CNY 1.333 billion in 2025, CNY 1.673 billion in 2026, and CNY 2.141 billion in 2027 [7] - The company anticipates strong demand in the nuclear power sector from 2025 to 2027, which is expected to contribute positively to its high-quality development [10] Management and Governance - Recent management changes include a new board and executive team, which are expected to drive high-quality development and enhance shareholder returns [11] - The company is considering further stock incentive plans to attract and retain talent, aligning the interests of shareholders, the company, and employees [11] Market Expansion - The company has limited direct exports, as most of its electric motor products are sold through main engine manufacturers rather than directly to end-users [12] - There are ongoing discussions regarding potential capital increases and strategic collaborations to strengthen its position in the nuclear power sector [13]