Hangzhou Gear advances 2010 with net profit of 129 million, up 52% ​​year-on-year

The advance of Hangfang (601177) disclosed its annual report on Monday evening. The company achieved a net profit of RMB 129 million in 2010, an increase of 51.58% year-on-year; and a realized earnings per share of RMB 0.3984.

The board of directors of the company is optimistic about the development of the industry The economic turmoil caused by the international financial crisis gradually eased in 2010. Under the policy environment where national capital investment has driven domestic demand, the transmission product market has shown a recovery growth. The company takes the scientific concept of development as its theme and closely focuses on marine gearboxes, construction machinery gearboxes, wind power gearboxes, automobile transmissions and international market platforms to promote the development of technology, accelerate technological innovations, and adjust production in a timely and rational manner. Resources and product structure, innovative marketing models, prevention and resolution of market operating risks, operating income of 2.209 billion yuan in 2010, an increase of 23.09% over the previous year.

In the marine gearbox product market, in response to changes in its market demand structure, the company actively explores new markets and launches new products on the basis of stabilizing and increasing its market share in traditional products. The development of high-power, high-speed ratio, energy-saving emission reduction products has improved the spectrum of deep-sea ocean fishing products; the development of dual-vehicle parallel vehicles and adjustable propellers has established a market platform for marine engineering multi-purpose vessels. Through the continued expansion of product lines and specialized fields, marine gearbox products have achieved stability and rise in the fierce market competition environment, achieving the development goal of continuing to grow in the international market and maintaining the leading position in the domestic market.

The market for construction machinery transmission products was driven by the country’s 4 trillion yuan policy, and the market demand continued to grow. The product market showed a situation of oversupply. On the one hand, the company has increased production capacity through various measures. On the other hand, it has rationally allocated resources and has established strategic partnerships through active cooperation with the mainframe supporting plants to timely develop energy-saving and high-efficiency low-speed planetary structure double-variable assemblies. In 2010, the sales revenue of construction machinery transmission products was 1.002 billion yuan, an increase of 70.70% over the previous year. Under the environment where the country vigorously promotes the development of green energy, the wind speed increase gearbox has achieved rapid development. The company firmly seizes market opportunities and timely adjusts the product structure, while at the same time collaborating with famous foreign wind power companies such as GAMESA, ZOLLERN, GE, etc. Introduced a wind turbine gearbox with a foreign advanced structure of 2 MW class that adapts to the conditions of wind farms in China, built a strategic cooperative relationship with domestic wind power plants, and increased investment in technological transformation to rapidly increase the production capacity of core components, forming a 2 trillion The ability to supply batches of wafer-level products has greatly increased the competitiveness and influence of enterprises in the wind power industry, and laid a solid foundation for the company to develop more megawatt-class wind turbine speed increase boxes.