Hangcha (603298) 长江商报·2025-04-23 00:41Core Insights - Hangcha Group reported strong financial performance for Q1 2025, with revenue of 4.506 billion yuan, a year-on-year increase of 8.02%, and net profit of 436 million yuan, up 15.18% [1][2] - The company has maintained a consistent growth trajectory, achieving nine consecutive years of net profit increases, with a net profit of 2.022 billion yuan in 2024 [2][4] - Hangcha Group plans to distribute a cash dividend of 0.5 yuan per share for 2024, totaling 655 million yuan, which represents 32.39% of the net profit [1][4] Financial Performance - In Q1 2025, the gross margin was 20.51% and the net margin was 10.02% [3] - The gross margin for 2024 was 23.55%, the highest in eight years, while the net margin reached a historical high of 13.11% [3] Company Overview - Hangcha Group, established in 1956, specializes in high-end equipment manufacturing, particularly in industrial vehicles, and ranks 8th globally in forklift revenue according to MMH [2] - The company has a comprehensive product line, including forklifts, automated guided vehicles, and smart logistics solutions [5] R&D and Innovation - In 2024, Hangcha Group invested 774 million yuan in R&D, accounting for 4.70% of revenue, with 1,151 R&D personnel [6] - The company achieved 52 marketable R&D projects and 25 technology applications, with 129 patents granted, including 82 invention patents [6] Global Expansion - Hangcha Group is expanding its global footprint, establishing a wholly-owned manufacturing subsidiary in Thailand and sales companies in Malaysia and Vietnam [7] - In 2024, overseas product sales reached a record high of 100,000 units, with international revenue of 6.846 billion yuan, a 4.75% increase year-on-year [9]