公司为国内较早开始自主研发和制造电磁制动器的厂家之一。通过对电磁制动器在优化设计和稳健设计方面的不断探索，以低噪音、高抗振、适应严酷环境等作为重点研究方向，在选用材料、加工工艺、整体结构设计等方面自主创新，研制成功一系列高性能、低成本制动器产品，广泛应用于数控机床、机器人、电梯等领域。Report summary:
The company's customers include well-known enterprises at home and abroad. The company's products include precision transmission parts, electromagnetic brakes and harmonic speed reducers, etc., which are widely used in CNC machine tools, robots, elevators and other fields. The company's customers are mainly well-known global or domestic companies in the downstream field, including Huichuan Technology, a leading domestic industrial automation company, Eston, a leading domestic industrial robot company, Hitachi Elevator, Otis Elevator and Toshiba Elevator, internationally renowned transmission parts companies such as German Lingfeida, Japan's Tsubaki Machinery, and American Finner Transmission.
The company's precision transmission parts such as expansion sleeves, flexible couplings, and synchronous wheels are just what you need in automation equipment. The products are widely used in CNC machine tools, robots, automated production lines and other fields of automation equipment with high rotation speed, low noise, and smooth operation.
The company is one of the earliest domestic manufacturers to independently develop and manufacture electromagnetic brakes. Through continuous exploration of optimal design and robust design of electromagnetic brakes, with low noise, high vibration resistance, and adaptation to harsh environments, we have independently innovated in materials selection, processing technology, and overall structural design, and successfully developed a series of high-performance, low-cost brake products, which are widely used in CNC machine tools, robots, elevators, etc.
The harmonic speed reducer has entered the mass production stage. Harmonic speed reducers are new and high-end products that have appeared in transmission systems in recent years. They have the characteristics of small return difference, high motion accuracy, large transmission ratio, small size, light weight, etc., and are widely used in the field of robotics. The harmonic reducer products independently developed by the company use long-life heavy-duty harmonic reducer process manufacturing technology and product development testing and application verification technology to better solve a series of industry pain points such as vibration, noise, low repetitive positioning accuracy, and low one-time assembly rate. They have now been used in industries such as welding robots, small six-axis robots, collaborative robots, AGVs, and machine tool turntables. The harmonic speed reducer developed by the company has entered the mass production stage and has been recognized by well-known domestic robot manufacturers such as Davalve Robotics Co., Ltd., Jingke (Shenzhen) Robotics Technology Co., Ltd., and Wuhu Zika Robotics Technology Co., Ltd.
Profit forecast and rating: The company's net profit for 2024-2026 is estimated to be 0.1 billion, 0.112 billion and 0.13 billion, EPS is 1.81 yuan, 2.03 yuan, and 2.36 yuan, respectively, and PE is 49.27 times, 43.90 times, and 37.71 times, respectively. Covered for the first time, a “gain” rating was given.
Risk warning: The volume of precision transmission parts, electromagnetic brakes and harmonic reducer products falls short of expectations.