证券代码：300124 证券简称：汇川技术 公告编号：2024-072 深圳市汇川技术股份有限公司 关于注销第六期股权激励计划预留授予部分股票期权的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完 整，没有虚假记载、误导性陈述或重大遗漏。 深圳市汇川技术股份有限公司（以下简称"公司"）于 2024 年 8 月 23 日召开 第六届董事会第三次会议、第六届监事会第三次会议，审议通过了《关于注销第六 期股权激励计划预留授予部分股票期权的议案》，拟注销 6 名离职激励对象已获授 但未行权的 54,136 份股票期权、41 名激励对象本期因考核原因不能行权的 12,927 份股票期权，合计 67,063 份股票期权。现就有关事项公告如下： 一、第六期股权激励计划实施情况概要 1．2022 年 7 月 22 日，公司分别召开了第五届董事会第十五次会议、第五届 监事会第十次会议，审议并通过了《关于<第六期股权激励计划（草案）>及其摘要 的议案》等相关议案，拟向 865 名激励对象授予的股票权益（第一类限制性股票、 第二类限制性股票和股票期权）合计不超过 2,322.21 万股，分首次授予和预留部分 授予，其中 ...

Company Overview - The company's stock code is 300124 and it is listed on the Shenzhen Stock Exchange[10] - The company's legal representative is Zhu Xingming[10] - The company's registered address and office address remain unchanged from the previous year[12] - The company's semi-annual report is available at the Board Secretary's office[7] - The company has not changed its registration status during the reporting period[13] - The company's subsidiaries include Inovance Control, Suzhou Inovance, and Nanjing Inovance[8] - The company is involved in various sectors including NEV, Intelligent Elevator, and Rail Transit[1] - The company's financial report is signed by Zhu Xingming, Liu Yingxin, and Wang Xiaoling[7] Financial Performance - Revenue for the reporting period reached RMB 16.18 billion, a year-on-year increase of 29.98%[14] - Net profit attributable to shareholders of the listed company was RMB 2.12 billion, up 1.98% year-on-year[14] - Net cash flow from operating activities surged by 144.23% to RMB 1.83 billion[14] - Total assets increased by 3.84% to RMB 50.84 billion compared to the end of the previous year[14] - Revenue for the first half of 2024 reached RMB 16.18 billion, a 30% increase compared to RMB 12.45 billion in the same period of 2023[184] - Operating profit for the first half of 2024 was RMB 2.26 billion, up 7.2% from RMB 2.10 billion in the first half of 2023[184] - Net profit attributable to shareholders of the parent company in the first half of 2024 was RMB 2.12 billion, a 2% increase from RMB 2.08 billion in the same period of 2023[184] - Basic earnings per share for the first half of 2024 were RMB 0.79, slightly higher than RMB 0.78 in the same period of 2023[185] - Total comprehensive income for the first half of 2024 was RMB 2.12 billion, a 1% increase from RMB 2.10 billion in the first half of 2023[185] - Revenue from the parent company in the first half of 2024 was RMB 1.40 billion, a 10.8% decrease compared to RMB 1.57 billion in the same period of 2023[186] - Net profit of the parent company in the first half of 2024 was RMB 1.02 billion, a 26.2% increase from RMB 810.31 million in the first half of 2023[186] - Investment income of the parent company in the first half of 2024 was RMB 362.18 million, a 92.5% increase compared to RMB 188.18 million in the same period of 2023[186] - Comprehensive income for the first half of 2024 reached 1,022,844,559.15 yuan, a significant increase from 810,309,425.34 yuan in the same period of 2023[187] - Operating cash flow for the first half of 2024 was 1,827,740,235.15 yuan, compared to 748,367,345.13 yuan in the first half of 2023[188] - Cash received from sales of goods and services in the first half of 2024 was 13,131,632,139.05 yuan, up from 9,444,893,232.70 yuan in the same period of 2023[188] - Cash paid for goods and services in the first half of 2024 was 6,675,528,245.71 yuan, compared to 5,034,718,030.58 yuan in the first half of 2023[188] - Cash received from investments in the first half of 2024 was 6,347,305,039.04 yuan, a substantial increase from 2,044,270,269.53 yuan in the same period of 2023[188] - Cash paid for investments in the first half of 2024 was 6,626,327,394.70 yuan, compared to 1,981,013,616.89 yuan in the first half of 2023[188] - Net cash flow from financing activities in the first half of 2024 was -1,224,546,549.68 yuan, an improvement from -1,538,050,339.53 yuan in the same period of 2023[189] - Net cash flow from operating activities of the parent company in the first half of 2024 was 1,917,695,794.65 yuan, up from 568,867,746.87 yuan in the first half of 2023[190] - Cash received from investments by the parent company in the first half of 2024 was 3,206,870,977.20 yuan, a significant increase from 453,217,670.98 yuan in the same period of 2023[190] - Cash paid for investments by the parent company in the first half of 2024 was 3,964,330,673.29 yuan, compared to 1,053,002,000.00 yuan in the first half of 2023[190] - Investment activities cash outflow increased significantly to 5,598,047,477.01 RMB in H1 2024, up from 1,655,038,634.44 RMB in H1 2023, reflecting a 238% increase[191] - Net cash flow from financing activities improved to -932,948,947.24 RMB in H1 2024, compared to -1,082,884,847.02 RMB in H1 2023, indicating a 14% reduction in negative cash flow[191] - Total owner's equity increased to 26,006,078,569.66 RMB at the end of H1 2024, up from 25,000,991,558.81 RMB at the end of H1 2023, representing a 4% growth[192] - Comprehensive income for H1 2024 reached 2,123,373,779.25 RMB, a significant improvement from the previous period[192] - Cash and cash equivalents decreased to 953,921,242.90 RMB at the end of H1 2024, down from 1,074,948,955.21 RMB at the end of H1 2023, reflecting a 11% decline[191] - The company's capital reserve increased to 5,796,516,156.61 RMB in H1 2024, up from 5,670,337,770.16 RMB in H1 2023, showing a 2% growth[192] - Retained earnings grew to 16,029,017,117.34 RMB in H1 2024, compared to 15,115,703,056.43 RMB in H1 2023, indicating a 6% increase[192] - The company's total liabilities and owner's equity reached 26,006,078,569.66 RMB at the end of H1 2024, up from 25,000,991,558.81 RMB at the end of H1 2023, representing a 4% growth[192] - Total owner's equity at the end of the period was RMB 21,487,356,974.17, reflecting an increase from the beginning of the period[195] - Comprehensive income for the period amounted to RMB 2,089,005,914.40, contributing significantly to the increase in owner's equity[195] - Owner's equity at the beginning of the period was RMB 20,111,545,853.17, with a total increase of RMB 1,375,811,121.00 during the period[194] - The company allocated RMB 957,623,707.08 for profit distribution to owners (or shareholders), impacting the overall equity[195] - Capital reserve increased by RMB 150,416,266.68 due to owner's capital contributions and other factors[194] - The company's undistributed profit at the beginning of the period was RMB 11,502,136,213.60, with an increase of RMB 1,119,299,651.99 during the period[194] - The company's capital reserve at the beginning of the period was RMB 4,775,051,589.88, with an increase of RMB 150,416,266.68 during the period[194] - The company's total owner's equity at the end of the period was RMB 14,923,987,190.74, reflecting a decrease from the beginning of the period[198] - Comprehensive income for the period amounted to RMB 1,022,844,559.15, contributing significantly to the increase in owner's equity[197] - The company allocated RMB 1,204,746,677.55 for profit distribution to owners (or shareholders), impacting the overall equity[197] - Total owner's equity at the beginning of the period was RMB 14,183,800,686.32[199] - Comprehensive income for the period was RMB 810,309,425.34[199] - Capital increase from owners' investment was RMB 218,554,340.24[199] - Profit distribution to owners (or shareholders) amounted to RMB -957,184,507.08[199] - Total owner's equity at the end of the period was RMB 13,463,680,147.28[200] - Capital reserve decreased by RMB 560,724,684.78 during the period[199] - Undistributed profits decreased by RMB 118,300,820.68 during the period[199] - Other comprehensive income for the period was RMB 1,098.00[199] - Treasury stock increased by RMB 45,058,111.58 during the period[199] - Other changes in owner's equity amounted to RMB -791,799,797.54[200] Market and Industry Trends - The industrial automation market size in China decreased by 2.8% to RMB 147.6 billion in the first half of 2024[20] - New energy vehicle production and sales in China grew by 30.1% and 32% respectively in the first half of 2024[21] - The market penetration rate of new energy vehicles reached 35.2% in the first half of 2024[21] - The low-voltage inverter market size declined by 7.8% to RMB 14.3 billion in the first half of 2024[20] - The general servo market size decreased by 5.8% to RMB 10.5 billion in the first half of 2024[20] - Industrial robot shipments increased by 5.1% to 140,000 units in the first half of 2024[20] - The domestic elevator and escalator production in the first half of 2024 was 698,000 units, a year-on-year decrease of 7.9%[22] - New urban rail transit lines added in the first half of 2024 totaled 194.06 kilometers, involving 10 cities[23] Market Share and Competitive Position - The company's general servo system market share in China reached 27.6%, ranking first[25] - The company's low-voltage inverter market share in China was 19.6%, ranking first[25] - The company's small PLC market share in China was 13.7%, ranking second and first among domestic brands[25] - The company's industrial robot market share in China was 9.0%, ranking third, with SCARA robot market share at 26.3%, ranking first[27] - The company's new energy vehicle motor controller market share in China was 11%, ranking second and first among third-party suppliers[28] - The company's new energy vehicle drive assembly market share in China was 5.9%, ranking fourth[28] - The company's new energy vehicle motor market share in China was 4.7%, ranking fifth[28] - The company's new energy vehicle OBC market share in China was 4.6%, ranking eighth[28] - The company's elevator integrated controller/frequency converter and human-machine interface products hold leading market shares in the industry[29] - The company's smart elevator business is categorized as a mature business, focusing on steady growth and generating strong cash flow[29] - The company has fully mastered the core technologies of traction and control systems in the rail transit sector, supported by domestic policy advantages and cost-effectiveness[30] R&D and Innovation - The company's R&D investment in the first half of 2024 was 1.473 billion yuan, with an R&D expense ratio of 9.10%[38] - The company has a total of 5,822 R&D personnel and has accumulated 2,562 patents and software copyrights by the end of the reporting period[38] - The company's core technologies span multiple layers, including information, control, drive, execution, and sensing, with applications in industries such as 3C manufacturing, lithium batteries, and textiles[38] - The company's IPD (Integrated Product Development) process focuses on customer value, platform-based product development, and customization, ensuring alignment with market and technological trends[32] - R&D investment grew by 13.71% to RMB 1.47 billion, reflecting continued focus on innovation and product development[58] - R&D personnel increased by 18.29% to 5,822, with R&D personnel accounting for 23.44% of total employees, up 0.55 percentage points[63] - R&D investment increased by 13.71% to 1,472,735,523.36 yuan, but the proportion of R&D investment to operating income decreased by 1.30 percentage points to 9.10%[63] Business Segments and Performance - The company's general automation business achieved sales revenue of approximately 7.5 billion yuan, a year-on-year increase of about 10%[47] - The company's general servo system sales revenue reached approximately 3 billion yuan[47] - The company's industrial robot sales revenue reached approximately 580 million yuan[47] - The company's PLC&HMI sales revenue reached approximately 690 million yuan[47] - New energy vehicle business achieved sales revenue of approximately 6 billion yuan, a year-on-year increase of over 100%[49] - New energy logistics vehicle assembly installations reached 75,676 units, capturing a 47% market share[48] - Electric control shipments in the new energy heavy-duty truck sector increased by 220% year-on-year[48] - The fifth-generation power platform products are expected to release A-sample prototypes in the second half of 2024, with power density improvements exceeding 20%[48] - Smart elevator business achieved sales revenue of approximately 2.3 billion yuan, a slight year-on-year decrease of 2%[51] - Rail transit business achieved operating income of approximately 220 million yuan, a year-on-year increase of 8%[52] - Overseas business revenue reached approximately 950 million yuan, a year-on-year increase of 17%, accounting for 6% of total revenue[54] - The company established 10 new joint warranty centers globally, bringing the total to 26, ensuring 24-hour online service response[53] - The company launched the "Aurora" home elevator solution, promoting smarter, safer, more comfortable, and energy-efficient home elevators[51] - The company completed the iteration of the permanent magnet traction system 2.0 version and the 2in1 high-frequency auxiliary converter 4.0 version, significantly enhancing competitiveness in lightweight, compactness, and cost-effectiveness[52] - Digital business achieved significant progress in industrial digital equipment, digital energy, and digital factory solutions, with InoCube platform enhancing multi-tenant and legacy system integration capabilities[55] - Energy management business saw PCS shipments reach 4GW, with new products like the intelligent liquid-cooled commercial energy storage system and residential energy storage solutions gaining market traction[56] - Revenue from the new energy & rail transportation sector soared by 96.15% to RMB 6.23 billion, with a slight decline in gross margin by 0.91%[60] - Domestic revenue increased by 30.90% to RMB 15.24 billion, while overseas revenue grew by 16.78% to RMB 946.90 million[60] - Gross margin for the intelligent manufacturing sector (including general automation and smart elevators) stood at 40.25%, down by 1.89% year-on-year[60] - Revenue from new energy vehicles and rail transit increased significantly due to the continuous rise in new energy vehicle penetration and the mass production of customer models[61] - Domestic revenue increased due to the rapid growth of the new energy vehicle market, while gross margin declined due to changes in product revenue structure and intensified market competition[62] Sustainability and Environmental Efforts - Greenhouse gas emissions from major operational sites were verified at 71.5% of the previous year's total emissions, with ISO 50001 certification achieved at Suzhou Huichuan and a 6.8MWp distributed photovoltaic project connected to the grid[56] - The company's sustainability efforts were recognized, with a Sustainalytics score improvement from 28 to 23.3, indicating lower risk[57] - The company's non-methane total hydrocarbon emissions were 2.56 mg/m³, well below the standard of 60 mg/m³[133] - The company's total hazardous waste disposal in 2024 was 223 tons, below the approved limit of 235 tons[133] - The company employs fiber filters and secondary activated carbon adsorption to treat VOCs and tin compounds in exhaust gases[134] - All hazardous waste is entrusted to qualified third-party companies for disposal[134] - Environmental protection investment exceeded 920,000 RMB in the reporting period[137] - Subsidiary Suzhou Inovance obtained ISO 14064-1:2018 greenhouse gas verification statement in March 2024[138] - Subsidiary Suzhou Inovance passed ISO 50001:2018 energy management system certification in June 2024[138] - MD580 series inverter (T8 SIZE 90~132kW) obtained ISO 14067:2018 product carbon footprint verification statement[138] - Subsidiary Yueyang Inovance's 6.86MWp distributed photovoltaic power generation system was connected to the grid on June 14, 2024, with an expected annual clean power generation of 6 million kWh, equivalent to avoiding approximately 3,400 tons of greenhouse gas emissions annually[138] Risk Management and Countermeasures - The company has detailed potential risks and countermeasures in the "Management Discussion and Analysis" section[5] - The company faces risks from economic fluctuations, with potential impacts on industrial automation demand and increased competition[90] - The real estate market downturn poses risks to the elevator industry, potentially affecting the company's sales and profits in this sector[91] - Intensified competition in the new energy vehicle market

证券代码：300124 证券简称：汇川技术 公告编号：2024-059 深圳市汇川技术股份有限公司 关于召开 2024 年半年度业绩说明会的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没 有虚假记载、误导性陈述或重大遗漏。 深圳市汇川技术股份有限公司（以下简称"公司"）拟于2024年8月27日披露《2024 年半年度报告》。为使投资者能够进一步了解公司经营成果、财务状况，公司拟召开业 绩说明会，现将具体情况公告如下： （一）召开时间：2024年8月27日（星期二）15:00-17:00。 （二）出席人员：董事、副总裁、董事会秘书宋君恩先生。 （三）交流内容：公司将针对2024年半年度经营成果、财务指标等与投资者进行交 流，并对投资者普遍关注的问题进行回答。 （四）召开方式：线上会议，本次会议主要以中文方式进行，配有英文同声传译， 投资者可通过语音和文字方式在线参与本次业绩说明会。 （五）报名及参会方式： 1.中文会议 （1）网络端报名参会： https://s.comein.cn/A4LxH 一、业绩说明会安排 二、问题征集方式 为提升公司与投资者之间的交流效率，广大投资者可在2024年8 ...

Investment Rating - Strong Buy (Maintained) with a target price of 65.9 RMB, current price at 41.53 RMB [1] Core Views - The industrial robot market is entering a new growth phase driven by labor market shifts and industrial upgrading in China [1] - Domestic brands have achieved a 45% market share in 2023, a historic high, due to advancements in core components and controller technology [1] - The industrial robot industry exhibits a "smile curve" in terms of profitability, with upstream core components (reducer, servo system, and controller) being the most profitable [1] - The company has expanded from SCARA robots to a comprehensive industrial automation platform, with a 6.5% market share in China's industrial robot market in 2023, ranking fourth [1] Industry Analysis Industrial Robot Market Growth - China's industrial robot market has grown tenfold from 27,000 units in 2012 to 282,000 units in 2022, driven by labor shortages and cost reductions in robot applications [1] - Domestic brands are accelerating import substitution and expanding into international markets such as Japan, South Korea, and Southeast Asia [1] - The global industrial robot market is expected to reach 622,000 units by 2024, with China accounting for over 50% of global shipments [21][22] Industrial Robot Supply Chain - The industrial robot supply chain is characterized by a "smile curve," with upstream core components (reducer, servo system, and controller) being the most profitable [1] - Domestic brands are improving their competitiveness by mastering key components, particularly robot controllers, which enhance cost control and technical value [1] - The reducer market in China is expected to recover in 2024, with a projected market size of 1.596 million units, driven by the growth of humanoid robots and other new concepts [40][41] Company Analysis Market Position - The company holds a 6.5% market share in China's industrial robot market in 2023, ranking fourth, and a 20.8% market share in the SCARA robot segment, ranking first [1] - The company's industrial robot business has grown significantly, with revenue reaching 800 million RMB in 2023, compared to FANUC's 18 billion RMB, indicating substantial growth potential [56] Product and Solution Offerings - The company offers a comprehensive product line, including robot systems, control cabinets, software, and accessories, catering to various industries such as 3C, lithium batteries, and photovoltaics [51] - The company provides integrated solutions combining PLC/HMI/CNC, servo systems, frequency conversion systems, industrial robots, precision machinery, and pneumatic systems, enhancing customer value [57] Future Growth Drivers - The company is focusing on the humanoid robot sector, developing core components such as lead screws, frameless torque motors, and force sensors [59] - The company's overseas expansion strategy aims to narrow the gap with international giants and enhance its global market position [56] Financial Projections - Revenue is projected to grow from 36.7 billion RMB in 2024 to 54.7 billion RMB in 2026, with net profit increasing from 5.52 billion RMB to 8.13 billion RMB over the same period [1] - The company's EPS is expected to rise from 2.06 RMB in 2024 to 3.03 RMB in 2026, with a target PE ratio of 32x for 2024 [1]

Group 1: Investor Relations Activities - The report details various investor relations activities conducted by Huichuan Technology from July 15 to August 2, 2024, including multiple teleconferences and on-site research events [2][3][4][5][6]. - Notable participants in these activities included Sumitomo Mitsui DS AM, Franklin Templeton, and various funds such as Hai Fu Tong and Stewart Investors, with a total of 3 to 11 participants in each session [2][3][4][5]. Group 2: Business Performance Insights - The company has maintained growth in its automation business despite a weak overall demand in the manufacturing sector, attributed to strategic market positioning and product competitiveness [4]. - The demand for automation in traditional industries has shown signs of recovery, supporting the growth of the general automation sector [5]. - The company’s revenue from the new energy vehicle sector has rapidly increased, supported by a diversified customer base including new energy vehicle manufacturers and traditional automakers transitioning to electric vehicles [5]. Group 3: Competitive Positioning - Huichuan Technology has established a competitive edge in the new energy vehicle market through years of investment, focusing on low-cost, high-reliability solutions [5][6]. - The acquisition of the French IRAI software company enhances the company’s capabilities in mechatronic design and simulation, providing valuable services in virtual debugging and training [6]. - The demand for elevator replacement and upgrades is expected to rise due to the aging elevator stock in China, which is nearing 10 million units [6].

证券代码：300124 证券简称：汇川技术 公告编号：2024-058 深圳市汇川技术股份有限公司 关于第一期长效激励持股计划第二个锁定期届满 的提示性公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整， 没有虚假记载、误导性陈述或重大遗漏。 重要提示： 1.第二个股份锁定期届满日期：2024 年 8 月 1 日 2.第二个锁定期届满对应解锁的股份数量：601,153 股 深圳市汇川技术股份有限公司（以下简称"公司"）长效激励持股计划是公 司的中长期激励方案，即对 2021 年至 2023 年每个会计年度设置业绩目标值，依 据业绩达成情况滚动设立三期各自独立存续的持股计划。公司长效激励持股计划 已由 2021 年 4 月 23 日召开的公司第四届董事会第三十四次会议、第四届监事会 第二十八次会议及2021年5月24日召开的公司2020年年度股东大会审议通过。 2022 年 5 月 24 日，公司根据 2021 年度业绩完成情况提取了第一期长效激 励持股计划业绩激励基金 14,728.67 万元。2022 年 7 月 22 日，公司召开第五届 董事会第十五次会议、第五届监事会第十次会议审议通过了《关 ...

C o m p a n y U p d a t e 股价相对大盘走势 汇川技术(300124.SZ) 买进（Buy） 公司基本信息 | --- | --- | --- | --- | |---------------------|--------|--------|--------------| | 产业别 | | | 电气设备 | | A 股价(2024/7/29) | | | 43.85 | | 深证成指(2024/7/29) | | | 8597.17 | | 股价 12 个月高/低 | | | 71.94/43.41 | | 总发行股数(百万) | | | 2678.14 | | A 股数(百万) | | | 2267.10 | | A 市值(亿元) | | | 994.13 | | 主要股东 | | | 香港中央结算 | | | | | 有限公司 | | | | | (21.56%) | | 每股净值(元) | | | 9.02 | | 股价/账面净值 | | | 4.86 | | | 一个月 | 三个月 | 一年 | | 股价涨跌(%) | | | | 近期评等 | --- | --- | --- ...

Investment Rating - The report maintains a "Buy" rating for the company, with a target price of 61.62 CNY per share based on a 30x PE for 2024 [3]. Core Insights - The company's revenue for the first half of the year is projected to be between 15.56 billion to 16.19 billion CNY, representing a year-on-year growth of 25% to 30%. However, the net profit attributable to the parent company is expected to be between 1.97 billion to 2.18 billion CNY, showing a slight decline of 5% to an increase of 5% year-on-year, primarily due to a decrease in investment income [2][3]. - The company continues to gain market share, with net profit margins recovering quarter-on-quarter. The market share for general servo and low-voltage frequency converters has increased to 30.3% and 21.4%, respectively, reflecting a year-on-year increase of 1.0 and 2.3 percentage points [2]. - The report highlights the potential recovery in the general automation industry as inventory replenishment approaches in 2024, supported by the company's international expansion, digitalization strategy, and new product development [2]. Financial Summary - The company is expected to achieve net profits of 5.50 billion, 6.30 billion, and 7.15 billion CNY for the years 2024, 2025, and 2026, respectively, with corresponding revenue growth rates of 19.1%, 20.4%, and 19.9% [5]. - The projected EBITDA for 2024 is 6.15 billion CNY, with a growth rate of 16.0% [5]. - The earnings per share (EPS) is forecasted to be 2.05 CNY for 2024, with a price-to-earnings (P/E) ratio of 22.56 [5].

Investment Rating - The report maintains a "Buy" rating for the company, with a target price of 61.35 CNY, indicating an expected increase of over 20% relative to the market benchmark index within the next six months [8]. Core Views - The company is expected to achieve revenue of 155.64-161.86 billion CNY in H1 2024, representing a year-on-year growth of 25%-30%. The net profit attributable to shareholders is forecasted to be between 19.73-21.81 billion CNY, with a year-on-year change of -5% to 5% [2]. - The company is focusing on digitalization and internationalization strategies, including the acquisition of a French industrial software company to enhance its digital factory design capabilities [2]. - The general automation business is expected to grow by 5%-10%, while the new energy vehicle business is projected to grow by approximately 60% due to increased deliveries from major clients [2]. Financial Summary - Revenue is projected to grow from 30.42 billion CNY in 2023 to 37.25 billion CNY in 2024, reflecting a growth rate of 22% [3]. - Net profit is expected to increase from 4.74 billion CNY in 2023 to 5.48 billion CNY in 2024, with an EPS growth from 1.77 CNY to 2.05 CNY [3]. - The company’s P/E ratio is projected to decrease from 26.2 in 2023 to 22.7 in 2024, indicating a more attractive valuation over time [3]. Segment Performance - The general automation segment is experiencing stable growth, while the new energy vehicle segment is rapidly expanding, contributing significantly to overall revenue [2]. - The elevator business is under pressure due to a 21.8% decline in housing completion area, leading to an expected revenue decrease of about 5% [2]. - The rail transit business is anticipated to grow by approximately 25% as the company expands its order acquisition efforts [2].

证券研究报告·公司点评报告·自动化设备 汇川技术（300124） 2024 年中报预告点评：工控α依旧显著，新 能源车进入收获期 2024 年 07 月 28 日 买入（维持） | --- | --- | --- | --- | --- | --- | |----------------------------|-------|-------|-------|-------|-------| | 盈利预测与估值 [Table_EPS] | 2022A | 2023A | 2024E | 2025E | 2026E | | 营业总收入（百万元） | 23008 | 30420 | 37292 | 44782 | 52946 | | 同比（%） | 28.23 | 32.21 | 22.59 | 20.09 | 18.23 | | 归母净利润（百万元） | 4320 | 4742 | 5456 | 6618 | 7843 | | 同比（%） | 20.89 | 9.77 | 15.06 | 21.30 | 18.50 | | EPS-最新摊薄（元/股） | 1.61 | 1.77 | 2.04 | 2.47 | ...