on the evening of January 15, the domestic high-end CNC machine tool leader kede CNC co., ltd (hereinafter referred to as "kede CNC", 688306.SH) announced that the company expects to achieve operating income of about 452.26 million yuan in 2023, an increase of 136.8188 million yuan compared with the same period last year (compared with the same period last year), an increase of about 43.37 percent over the same period last year.

It is estimated that the net profit attributable to the owners of the parent company in 2023 will be 100 million yuan to 110 million yuan, an increase of 39.5462 million yuan to 49.5462 million yuan year-on-year, and an increase of 65.42 to 81.96. The company expects the net profit attributable to the owners of the parent company after deducting non-recurring gains and losses to be 75 million yuan to 80 million yuan in 2023, an increase of 36.8109 million yuan to 41.8109 million yuan year-on-year, an increase of 96.39 to 109.48 percent year-on-year.

On the main reasons for the performance changes, Kede CNC said that in terms of its main business, the company focused on the research and development, production and sales of five-axis CNC machine tools. In 2023, the company's orders grew rapidly and product sales were diversified. In addition to the traditional five-axis vertical machining center, the sales volume of the five-axis horizontal milling and turning compound machining center increased significantly, and the market demand was strong. New models of high-speed blade grinding products favored by the market.

In addition, with the rapid growth of the company's business scale, the scale effect has gradually emerged, the gross profit margin of sales has increased significantly, the expense rate has gradually decreased, and the profit level has increased. Therefore, the overall net profit and net profit after deducting non-recurring gains and losses increased significantly year-on-year, and the company's operating performance maintained a good growth.

In addition, in terms of the impact of non-recurring gains and losses, Kede CNC stated that in the first half of 2023, the company transferred its holdings of Longxin Zhongke Technology Co., Ltd. through the secondary market, and obtained an investment income of 9.8645 million yuan. Net profit has a positive impact.

Kede CNC is a holding subsidiary of Dalian Guangyang Technology Group Co., Ltd. It is a complete industrial manufacturer of specialized high-end CNC systems and key functional components in China. With a high degree of professional autonomy, Kede has grown into a domestic A large-scale five-axis equipment production and sales base. Prior to this, in July 2021, Code CNC officially landed on the SSE Cotron Board.

The company's main business is five-axis linkage CNC machine tools, high-end CNC systems, key functional components and flexible automation production lines. The five-axis linkage CNC machine tool is a machine tool with high technology content, high precision, and is specially used for processing complex curved surfaces. It has the advantages of wide application range, precise processing quality, and high work efficiency. It is a solution to aerospace, aero-engine impellers, bladed discs, The only means for cutting and processing key industrial products such as blades and marine propellers. Five-axis linkage CNC technology is also one of the important criteria to measure the technical level of a country's complex precision parts manufacturing capacity.

And for a long time, China's high-end five-axis CNC machine tools rely heavily on imports. Cod CNC previously pointed out in the prospectus that in 2018, the localization rate of my country's low-end CNC machine tools was about 82%, the localization rate of mid-range CNC machine tools was about 65%, and the localization rate of high-end CNC machine tools was only about 6%. At present, China's CNC machine tool enterprises are mainly located in the low-end market, high-end product penetration rate is improving but still at a low level.

cod numerical control said at an investor activity recently that from the perspective of product layout, the company has four general technology platforms (vertical, horizontal, horizontal milling, gantry) and three special machine technology platforms (grinding machine, blade machine, high-speed tip grinding); Judging from the product pedigree, the company has KD series that can be applied to highly sensitive and extreme fields such as national defense, military industry, aerospace, etc, there are also used in the processing efficiency with high requirements, while the pursuit of the ultimate cost-effective, for the civilian field of research and development of the Dechuang series. In the past 2023, the company's orders have maintained rapid growth, with new orders covering the needs of aerospace, machinery and equipment, energy, automotive and other industries.

Up to now, the company has independently completed the research and development and production of five-axis CNC machine tool products and high-end CNC systems, motorized spindles, turntables, swing heads, laser interferometers, tool sets and other key functional components through core technologies. The rate reached 85%. During the period from January to September 2023, the gross profit margin of Cod CNC machine products was 45.81. The average price of the new order is 2.12 million yuan (excluding tax), and the average price of the whole machine is on the rise. Cod CNC said that this is related to the high proportion of large models such as the five-axis horizontal milling and turning compound machining center in the new orders.

the company mentioned in the 2023 semi-annual report that the company's five-axis linkage CNC machine tool products mainly serve the processing and manufacturing of complex and precision parts in the current high-speed development of aviation, aerospace, military and other fields. it is a necessary way to process turbomachinery parts such as impellers, bladed discs and blades. At the same time, new progress has been made in the fields of automobiles, energy, machinery and equipment this year, and overseas orders have also continued to grow.