思进智能(003025) - 2021年9月17日投资者关系活动记录表

Group 1: Company Overview - The company specializes in cold forming equipment, primarily for manufacturing metal parts at room temperature, which is essential for producing fasteners and irregular parts [3] - The company has been recognized as a leading manufacturer in the multi-station automatic cold heading machine sector in Ningbo [4] - The company has been included in the list of "Little Giants" by the Ministry of Industry and Information Technology of China [4] Group 2: Market Demand and Applications - The cold forming equipment market is driven by the demand from the fastener industry, with increasing needs for non-standard shaped parts [2] - The main downstream customers are manufacturers in various industries, including automotive, machinery, nuclear power, wind power, electrical, railway, construction, electronics, military, aerospace, and petrochemical [2] - In the first half of 2021, there was a significant increase in orders from new fields such as electric and pneumatic tools [2] Group 3: Competitive Landscape - The competitive landscape is divided into three tiers: high-end market dominated by foreign companies, mid-high end by private enterprises like the company, and low-end by smaller firms [2] - The company possesses core technology and independent intellectual property rights, giving it a strong competitive edge in the mid-high end market [2] Group 4: Product Features and Advantages - The main products include high-speed multi-station cold forming equipment, capable of producing dozens to hundreds of parts per minute, enhancing production efficiency and reducing labor costs [3] - The equipment offers high material utilization rates, energy savings, and the ability to process complex metal parts [3] Group 5: Barriers to Entry - Key barriers to entry in the cold forming equipment industry include technical barriers, talent barriers, and customer barriers [4] - Technical barriers arise from the complexity of the equipment and the need for long-term R&D [4] - Talent barriers are significant due to the requirement for skilled technicians with extensive practical experience [4] Group 6: Pricing and Procurement - The company employs a cost-plus pricing model, considering direct costs, technological value, and market conditions [4] - The main raw materials include castings, electrical components, forgings, and others, with procurement managed through semi-annual framework contracts [5] Group 7: Capacity and Future Plans - The company maintains a high capacity utilization rate and is expanding production capabilities through self-funded projects and imported equipment [6] - Future plans include expanding capacity, enhancing product series, and increasing R&D investment to meet evolving market demands [7]