Recently, big tech has been in full swing!
First of all, artificial intelligence has continued to happen, SORA was born, and the "world model" has taken a key step. Immediately afterwards, the industrial machine tool industry also entered a critical moment.
Recently, the fourth meeting of the ** Financial Committee was held. Study the problem of large-scale equipment renewal and trade-in of consumer goods, and study the problem of effectively reducing the logistics cost of the whole society.
The meeting stressed that the implementation of large-scale equipment renewal and trade-in of consumer goods will effectively promote investment and consumption, which will benefit both the present and the long-term.
To put it simply, it is to eliminate old equipment and replace it with new equipment, while promoting the recycling of waste resources.
Affected by this news, the domestic industrial machine concept stocks have attracted much attention, such as Deen Seiko, Huazhong CNC, Hongde shares, Huadong CNC, Rifa Seiki, Haitian Seiko, Yuhuan CNC, Bojie shares, Qinchuan machine tools, etc.
In particular, the leading equipment companies are expected to become the biggest beneficiaries.
In the A-shares, there is such a company, not only the only domestic enterprise that has mastered the high-voltage tap changer technology, but also the leader of the special CNC complete set of processing equipment, the company was the first to do the tap changer, listed in 2008, and won the title of "Shanghai famous brand" in the same year; In 2018, it was further established after the acquisition of the largest domestic competitorDomestic first.
1. The second market segment position in the world; In 2021, becameIt is the only manufacturer in the industry with the manufacturing capacity of the whole industry chain, more than 80% of the parts and components assets, and the shipment specifications can reach thousands of kinds.
At present, the company has provided equipment for large enterprises such as Shougang Construction, Shanghai Baoye, Zhenhua Port Machinery, Beijing Power Transmission and Transformation, Dongfang Electric, etc., which has become the second growth curve of the company's performance.
From the perspective of the company's business revenue structure in 2023, the traditional power equipment business will account for 8453%, which is still the highest, followed by CNC equipment, accounting for 910%。
So, how is this company performing?
Unlike many companies that blindly expand their business and lead to profit losses, the company's net profit has been positive for 12 consecutive years and has maintained a state-of-the-art rise.
The company's revenue has maintained stable growth since 2018, and from 2019 to 2022, the revenue growth rate has always remained around 11%-13%, and the company's revenue will reach 17 in 20221.2 billion yuan. In terms of profit, the compound annual growth rate of the company's net profit attributable to the parent company from 2018 to 2022 is 208%, the growth rate can be described as the leader in the industry.
In 2023, the company's performance will continue to maintain rapid growth. In the first three quarters of 2023, the company achieved operating income of 145.5 billion yuan, a year-on-year increase of 2123%；The net profit attributable to the parent company was 45.9 billion yuan, a year-on-year increase of 5998%。
It is worth noting that the company's performance has not only grown steadily, but the company's gross profit margin and net profit margin have also increased steadily. From 2018 to 2022, the company's gross profit margin increased from 43052% to 493% and net profit margin from 1477% to 2126%。
This performance can be said to be very impressive. After all, the general environment in 2023 is not too good, and the performance of many companies is negative, but the company can maintain a steady rise in such an environment, and achieve a substantial increase in revenue and net profit, which is definitely very good.
So, what is the future growth of this company?
First, the traditional power equipment business has stable performance.
As can be seen from the previous revenue structure, the power equipment business is still the company's core business, as the first leader in the field of tap changers, the company's market share is as high as 90%, with an absolute advantage.
With the development of the macroeconomy, the growth of social demand for electricity, and the adjustment of the industrial structure of the manufacturing industry will also bring new market demand, therefore, the company's traditional power equipment business direction has a stable incremental space, which is enough to stabilize the performance of the fundamentals.
Second, the industrial machine tool business strengthens the second curve.
Data show that the scale of China's CNC machine tool market will grow steadily and rapidly in the future, reaching 572.8 billion yuan by 2024.
Superimposed on China's policy support for large-scale equipment renewal, the industrial machine is expected to usher in 10 years of development.
The company has the ability to develop both software and hardware, not only to design and manufacture mechanical systems and hydraulic systems, but also to develop relevant embedded industrial control software for the control systems it needs.
At present, the company has CNC plane guide rail grinder, CNC gantry milling and boring machining center, floor milling and boring machining center and other large-scale precision processing equipment and testing equipment and instruments, with an annual production capacity of 1,000 special CNC machine tools, is expected to become the second growth curve of the company's performance.
Third, strong R&D and experimental capabilities
The company has the first tap-changer laboratory certified by CNAS in China, and the technical appraisal report issued by the company can be recognized in most countries around the world.
At the same time, with decades of technology accumulation, industry status and production test platform advantages, the company can always maintain efficient research and development, constantly upgrade products, and maintain the company's leading position in the industry through technological progress and continuous investment and research capabilities.
Finally, to sum up, this company has outstanding performance, as a dual leader in power equipment and industrial machine tools, it not only occupies an absolute advantage in market share, but also is far ahead in technology research and development, and is expected to fully benefit from the dividends of industry growth in the future, and the logic is extremely hard!
In addition, the third quarterly report shows that the company currently has nearly 200 institutions.