SF Diamond(300179)2025-01-02 10:33Group 1: Company Overview - The company focuses on superhard materials, with a strategic core of "1+N industry layout" based on downstream development trends [2] - As of Q3 2024, the company achieved a revenue of CNY 398.92 million and a net profit of CNY 93.97 million, with R&D investment of CNY 47.69 million, accounting for 11.95% of revenue [3] Group 2: Market Trends - The demand for oil composite sheets is concentrated, with significant market potential for high-end products, especially as global economic conditions improve [4] - The tool market is vast and fragmented, with increasing demand driven by high-end manufacturing upgrades and the rapid growth of the new energy vehicle sector [4] - The market for CVD diamonds is expanding, with a focus on large carat, colored, and specialty diamonds, leading to new cross-industry applications [4] Group 3: CVD Diamond Project Progress - In 2023, the company increased support for its subsidiary, Henan Tianxuan, focusing on the R&D and management of MPCVD equipment and CVD diamond processes, which have been validated for mass production [5] - The annual production project for 700,000 carats of functional diamonds will utilize the self-developed MPCVD equipment, with installation starting in April 2024 and production trials in May 2024 [5] Group 4: Future Outlook and Performance Expectations - The company aims to enhance its global market share in the oil composite sheet sector by focusing on key markets and high-end products [6] - In precision processing, the company will target complex superhard tools to meet the demands of precision and high-speed processing, capitalizing on the growth of the new energy vehicle market [6] - The CVD diamond segment is expected to contribute significantly to performance, with a focus on large carat and colored diamonds, alongside continued investment in MPCVD equipment and functional diamond R&D [6]