Himile Science And Technology(002595)2024-10-31 09:27Group 1: Financial Performance - In the first three quarters of 2024, the company achieved operating revenue of 6.365 billion CNY, a year-on-year increase of 20.05% [1] - The net profit attributable to shareholders for the same period was 1.417 billion CNY, reflecting a growth of 21.23% [1] - In Q3 2024, the operating revenue was 2.227 billion CNY, up 26.24% year-on-year, with a net profit of 457 million CNY, increasing by 15.93% [1] Group 2: Foreign Exchange Impact - The company experienced a foreign exchange loss of 23 million CNY due to currency fluctuations in the first nine months of 2024 [1] - The high proportion of overseas business income, primarily settled in USD, makes the company susceptible to foreign exchange market fluctuations [1] - Hedging activities are employed to mitigate foreign exchange risks and reduce exposure to exchange losses [2] Group 3: Business Operations and Growth - The main raw materials for the company include forged steel, pig iron, scrap steel, and aluminum ingots [2] - The tire mold business is currently operating at full capacity and is expected to maintain good growth throughout 2024 [2] - The gas turbine segment has seen a continuous increase in market demand, with revenue from this segment improving [2] Group 4: Market Position and Strategy - The company holds a market share of over 30% in the tire mold sector, with a higher share in the domestic market compared to international markets [4] - Major clients for the gas turbine business include GE, Mitsubishi, Siemens, and Shanghai Electric [4] - The company plans to enhance its overseas production capabilities and service capacity in response to market conditions [4] Group 5: Future Outlook and Dividends - The company has increased its dividend payout to nearly 500 million CNY for 2023 and proposed a mid-term dividend plan for 2024 [4] - The company benefits from a tax policy allowing a 5% deduction on VAT until December 31, 2027, which supports its financial performance [5]