Shuanghuan Company (002472.SZ), a domestic manufacturer of gear reducers mainly targeting the automotive and the emerging robotic sectors, yesterday released its financial statement for the first half of this year.
The Hangzhou-based firm reported a net profit attributable to shareholders of 368 million yuan (US$51 million), up 46.84% year on year, on revenue of 3.686 billion yuan, an increase of 18.99% over a year earlier, according to an exchange filing.
The earnings per share is 0.44 yuan.
In addition to brisk expansion in categories like gearboxes for heavy-duty truck and new energy vehicle (NEV), the company ascribed its performance to fast growth in segments like robotic high-precision gear.
Core component makers like Shuanghuan have been riding the waves of a robotic boom. They supply the industry with parts like gear reducers, especially precision reducers such as planetary reducer, harmonic drive and RV reducer.
As a number of other Chinese public robotics-related companies are expected to reveal their H1 financials in coming weeks, cnrobopedia will keep a close eye on their performance.