Research Express | Han Zhong Precision Machinery Receives and Hosts More Than 70 Institutions Including Bosera Fund; 2025 Revenue Reached 2.928 Billion Yuan; Focus on the Layout of Oil-Free Air Compressors and Semiconductor Vacuum Pumps

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Shanghai Han钟 Precision Machinery Co., Ltd. (hereinafter “Han钟 Precision Machinery”) recently received a dense schedule of institutional research visits. According to the company’s investor relations activity log, from February 26 to March 24, 2026, the company received more than 70 domestic and international institutions and individual investors through multiple formats, including on-site visits, strategy meetings, and online sessions. The company’s board secretary, securities affairs representative, and investor relations personnel participated in this research visit, and conducted in-depth exchanges with the institutions on core topics such as the company’s 2025 performance, product layout, and market developments.

Basic information on investor relations activities

Interpretation of the 2025 performance brief

During the research, the company first introduced its 2025 performance brief. The data show that in 2025, the company achieved operating revenue of RMB 2.93B, down 20.32% year over year; and net profit of RMB 470 million, down 45.54% year over year. Regarding performance fluctuations, the company did not further explain the specific reasons in the research, but considering the industry environment and product structure, institutions focused on the performance of each business segment and the potential for future growth.

Product layout and market developments

Han钟 Precision Machinery’s main businesses focus on two core segments: compressor(s) (sets) and vacuum pumps. Within the compressor(s) segment, it is further divided into two series: refrigeration and air compression. Each product line has a clear positioning and its own development strategy.

Refrigeration products: cover diverse scenarios, benchmark international brands

The refrigeration product series is mainly used in scenarios such as commercial building air conditioning, data centers, food cold chains, and applications including heat pump heating, hot water, and steam supply, among others. It can meet customers’ diverse needs for refrigeration and temperature control. The company’s refrigeration compressors include two types: screw and centrifugal. The main competitors are international brands such as Bitzer and Danfoss; in the domestic market, it has a certain level of technical competitiveness.

Air compression products: consolidate traditional strengths, and step up investment in the oil-free market

As core power equipment for industrial air supply, air compressors are widely used in downstream fields including construction machinery, pharmaceuticals, chemical industry, electronics, laser cutting, oxygen and nitrogen production, and road maintenance. While consolidating its traditional advantages in the market for oil-in compressors, the company is actively expanding its presence in the oil-free air compressor market, including scroll-type, screw-type, and centrifugal oil-free air compressors. Due to the high purity of the gas, oil-free air compressors have broad room for substitution in industries with stringent requirements on air-source quality, such as food, biopharmaceuticals, and electronic chip manufacturing. This is a strategic focus for the company’s air-compression business in the future.

Vacuum pump products: expand into the semiconductor sector; the impact from photovoltaics gradually weakens

Vacuum pump products are mainly used in the photovoltaic and semiconductor industries, and are gradually being expanded into fields such as lithium batteries, pharmaceuticals, chemical industry, display manufacturing, LED manufacturing, and optical communications. Worth noting is that the company’s vacuum products have already been recognized by some domestic chip manufacturers and have started bulk supply, covering the needs for capacity expansion of new production lines and replacement of old equipment. At the same time, it is also cooperating with new customers and new processes for testing and verification. The main competitors in this field include overseas brands such as Edwards, Ebara, and Kashiyama.
For the decline in sales revenue of vacuum products in 2025, the company explained that it was mainly affected by the photovoltaic industry; however, as the revenue share of the photovoltaic business in the vacuum pump segment decreases, the drag on performance from this area will gradually weaken in the future.

Information disclosure explanations

In the research, the company clearly stated that this event disclosed no material information that had not been made public. All exchange content was based on information already disclosed and publicly available industry data.

This institutional research focuses on the company’s performance and strategic layout. The market expansion of oil-free air compressors and customer breakthroughs for vacuum pumps in the semiconductor segment have become the core points that institutions are paying attention to. The progress of subsequent business developments is worth continuous tracking.

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