Huarui Precision(SH:688059)2023-12-22 10:06Group 1: Market Overview - In 2022, China's tool market consumption scale was approximately 46.4 billion yuan, with imported tools accounting for 12.6 billion yuan, primarily high-end tools needed for modern manufacturing [2] - The proportion of imported tools in total consumption decreased from 37.17% in 2016 to 27.16% in 2022, indicating a gradual enhancement in domestic tool manufacturing capabilities and accelerated import substitution [2] Group 2: Company Performance - In Q3 2023, the company achieved operating revenue of 230.4628 million yuan, a year-on-year increase of 104.10% [2] - The net profit attributable to the parent company was 43.2766 million yuan, up 104.48% compared to the same period last year [2] - The net profit after deducting non-recurring gains and losses was 42.7542 million yuan, reflecting a 115.92% increase year-on-year [2] Group 3: Sales Model Development - The company primarily adopts a distribution-based sales model, supplemented by direct sales, and has made significant progress in developing direct sales teams and clients in the aerospace sector [2] - The direct sales approach requires rapid response to customer needs, which places higher demands on the company's technical development and service capabilities [2] Group 4: Future Trends in Tool Industry - The future development direction of the tool industry is to develop tools that meet the demands of modern high-speed, efficient, and precise cutting processes, which raises higher requirements for tool substrate materials, coating materials, and tool structures [3] - Modern cutting processes demand comprehensive metal cutting service capabilities from tool companies, as traditional supply models will not meet the evolving needs of manufacturing enterprises [3]