China SINOMACH welcomes 56 institutional surveys covering multiple business developments
On July 30, 2024, SINOMACH Precision issued a reception and research announcement, announcing that the company received research from 56 institutions including Zhejiang Shengxi Asset Management Co., Ltd., Dongfang Fortune Securities, Chengtong Securities, Hengtai Securities Research Institute, and Beijing Jinruida Investment Co., Ltd. on the same day.
According to the announcement, the staff participating in the reception included Zhao Xianggong, secretary of the board of directors, and Jin Xiaoming, assistant to securities affairs. The research activities were conducted in the company's conference room.
SINOMACH Precision's core business covers three major areas: bearings, abrasives and tools, and trade services, which are subdivided into five business segments: new materials, basic components, machine tools, high-end equipment, and supply chain management and services. In the field of wind power bearings, the company focuses on the research and development and production of wind power main shaft bearings and gearbox bearings. The current business performance is stable and orders are abundant. In addition, the company supplies special bearings and components in the aerospace field. With the rise of the commercial aerospace market, it is expected to create new growth opportunities for the company. SINOMACH Precision launched the first equity incentive plan in 2022 and plans to launch the second incentive plan when conditions permit. As a demonstration unit for scientific research reform, the company is also exploring various incentive methods such as project income, job dividends and excess profit sharing. In the abrasives and grinding tools industry, the company uses the MPCVD method to produce large single crystal (polycrystalline) diamonds. The first phase of products has entered the market, and the second phase of products has begun to be sold on a small scale. With technological improvements and cost reductions, the market space will be further expanded.
In 2023, the proportion of overseas revenue of SINOMACH Precision will decrease, mainly because the company has reduced the scale of its trading business. The company's superhard material grinding tools business continues to grow, especially in the field of semiconductor applications, where the growth is particularly significant. At present, the company's private placement plan is still under review by the Shenzhen Stock Exchange.
Overview of research points:
Overview of main business
The company's business mainly involves three major areas: bearings, abrasives and grinding tools, and trade services, which are subdivided into five business segments.
1.Progress and order status of wind power bearings
In terms of wind power bearings, the company focuses on the development of wind power main shaft bearings and gearbox bearings. The current business development is good and the order volume is sufficient.
2.Opportunities in the commercial aerospace sector
In the aerospace sector, the company provides special bearings and components, which are expected to bring new growth points as commercial aerospace advances.
3. Equity incentive measures
The company has implemented the first equity incentive plan in 2022 and is considering launching the second incentive plan in due course.
4.Planning for the diamond business produced by MPCVD method
The large single crystal (polycrystalline) diamond business produced by MPCVD method is gradually advancing. The first phase of products has been commercialized and the second phase of products has begun to be sold on a small scale.
5.Reasons for the reduction in overseas revenue
The reduction in trading business has led to a decrease in the proportion of overseas revenue.
6.Current status of superhard material abrasives business
The superhard material abrasives business has maintained growth, especially in the semiconductor field.
7.Progress of the private placement plan
The private placement plan is still under review by the Shenzhen Stock Exchange.
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