Tianma shares: future attention to high-end CNC machine tools
From January to September, the net profit attributable to the parent company is expected to increase by 50% year-on-year.
The main business grew steadily. During the reporting period, the company adjusted its product structure, established a connotative growth of the complete material chain of “materials-bearings-equipment†while maintaining the stable development of its original business, vigorously developing new products and new markets, and overcoming the unfavorable factors of rapid energy rise. Maintaining the steady development of production and operation, especially the wind power bearings, the replacement of imported general-purpose bearings, high-end CNC machine tools products show better profitability, the company's operating income, operating profit and net profit have achieved a small year-on-year growth.
The bearing business has developed rapidly. During the reporting period, the company's bearing business achieved sales revenue of 861 million yuan, a year-on-year increase of 20%, and the proportion of main business income increased to 54.22%.
Among them, Chengdu Tianma and Beijing Tianma achieved sales revenue growth of 11.42% and 28.33%, respectively. In particular, Deqing Tianma achieved leap-forward growth, and sales revenue increased by 14 times.
The machine tool business declined slightly. Subsidiary Qizhong CNC is mainly engaged in the production and sales of CNC machine tools, general machine tools and complete sets of equipment. The main products are heavy-duty vertical and horizontal lathes. During the reporting period, due to the continued sluggish downstream demand, the company's machine tool business achieved sales revenue of 637 million yuan, down 15% year-on-year, and its share of main revenue fell to 40%. Qizhong CNC has developed the world's largest 6.3-meter heavy-duty CNC boring lathe. This product has entered the commissioning stage. We are optimistic about the future development prospects of high-end CNC machine tools, and it is expected to become a new growth point for the company's profits.
Wind power bearings and CNC machine tools support future performance development. In the second half of the year, the company will further enhance its competitiveness in the bearing and machine tool industry, focusing on increasing the production capacity of wind turbine bearings, replacing imported bearings and major CNC machine tools as soon as possible, improving product quality, expanding market share, and actively developing. The production of professional CNC machine tools continuously meets the rapid growth of demand in the high-end market such as aviation, railway, shipbuilding and new energy, and gradually realizes import substitution, while continuously increasing the added value of general bearing and railway bearing products.
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