KEDE Numerical (SH:688305)2024-05-07 07:34Revenue Composition - In 2023, five-axis linkage CNC machine tools accounted for 94% of total revenue, with a year-on-year growth of 55% [3] - In Q1 2024, five-axis linkage CNC machine tools represented 93% of total revenue, while functional components, production lines, CNC systems, and other after-sales services accounted for approximately 7% [4] - The average price of five-axis linkage CNC machine tools was 1.9 million yuan per unit (excluding tax) in 2023 and increased to 2.47 million yuan per unit in 2024 [3][4] New Orders - In Q1 2024, new orders increased by 32% year-on-year, with five-axis vertical machining centers making up 50% of the new orders [4] - The average price of new orders for complete machines was 2.32 million yuan per unit (excluding tax) [4] Functional Components - In 2023, the order amount for functional components increased by 112% year-on-year, with motors, electric spindles, and turntables accounting for 29%, 14%, and 47% of the total, respectively [6] - Functional components serve various industries, including aerospace, textile machinery, and wind energy [6] Production Strategy - The company is focusing on automation and unmanned production to enhance consistency and stability in manufacturing [7] - New production lines for vertical and gantry machining are being tested and installed to accelerate capacity expansion [7] Market Trends - The increase in product prices is attributed to a shift in product structure, with higher-value models like five-axis horizontal and five-axis vertical machining centers gaining a larger market share [8] - The company plans to adjust production organization based on market demand to enhance capacity and meet downstream user needs [8] Export Orders - Both 2023 and Q1 2024 saw rapid growth in new export orders, reflecting the recognition and repurchase of high-end CNC machine tools by overseas users [9]