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on september 9, rifa precision machinery (002520) once again hit the daily limit, marking the fifth consecutive trading day for the company. as of the close of the day, the number of buy orders for the limit was still as high as 136,400 lots, and the total transaction amount for the day reached 793 million yuan.

the after-hours dragon and tiger list shows that on september 9, the top five buying seats of the business department bought a total of more than 71.28 million yuan; the top five selling seats sold a total of 91.63 million yuan. among them, huaxin securities co., ltd. hangzhou branch sold a net of 10.37 million yuan, and institutional seats sold a net of 13 million yuan. in the dragon and tiger list on september 4 and 6, huaxin securities co., ltd. hangzhou branch had a total net purchase of 31.28 million yuan, and institutional seats bought 5.76 million yuan.

rifa precision machinery co., ltd., headquartered in xinchang, zhejiang, is mainly engaged in digital intelligent machine tools, aerospace services, etc. its important subsidiaries include rifa machine tool co., ltd., rifa aviation equipment co., ltd., italian mcm co., ltd., zhejiang maxim co., ltd. and airwork co., ltd.

according to the financial report, in the first half of 2024, rifa precision machinery achieved operating income of 1.045 billion yuan, a year-on-year increase of 17.15%; the net profit attributable to the parent company was a loss of 23.3922 million yuan, compared with a loss of 46.913 million yuan in the same period last year. although the performance was loss-making, the company's stock price has been rising continuously recently after the financial report was released.

according to the investor relations records disclosed by rifa precision machinery on september 9, from august 30 to september 6, rifa precision machinery held roadshows in beijing, shanghai, hangzhou and other places. participating institutions included golden eagle fund, zheshang securities, caitong securities and more than 20 others.

it is reported that rifa precision machinery's cnc grinding and super-grinding machine tools include seven series of products, covering bearing super-grinding automatic lines, bearing assembly automatic lines, cnc thread grinders, roller super-grinding automatic lines, cnc general grinders and single-machine cnc grinders, etc. among them, cnc thread grinders that can be used in the processing of humanoid robots and other fields have attracted more attention in the market.

regarding the progress of cnc thread grinders, rifa precision machinery stated that the cnc thread grinders were developed and completed in 2023. they are used to process screw rods and nuts in industries such as new energy vehicles, humanoid robots, and industrial mother machines. they are efficient and their precision meets customer requirements, and have been recognized by customers. therefore, rifa machine tool company has the production capacity of cnc grinding equipment for screw rods and nuts. up to now, internal and external thread grinders and grinding centers for screw rods and nuts have been delivered to some customers, and special end face cylindrical grinders for nuts have been delivered to some customers. in the first half of 2024, market development has made certain progress, and strategic cooperation has been reached with some customers. at the same time, technical exchanges and cooperation negotiations are underway with some potential customers.

"the above-mentioned cnc grinding equipment has not yet achieved sustained capacity release because some downstream industries such as humanoid robots are still in the early stages and have not yet been mass-produced. it will still take some time for industrial growth. investors are advised to pay attention to investment risks." rifa precision machinery said that rifa machine tool company will focus on tracking the technological development routes of downstream customers and end users, and will make product research and development in related fields the key direction of future development.

at the same time, the overdue loans of subsidiaries have also attracted market attention. rifa precision machinery announced on august 1 that its subsidiary airwork signed a syndicated loan contract in april 2019 with all its existing and future (i.e. april 2019 and later) assets as collateral. as of july 31, 2024, the principal of the syndicated loan due to be repaid is us$83.356 million and nzd 230,800, which is equivalent to rmb 596 million in total. as of the date of the announcement, the loan has been overdue.

regarding the above-mentioned overdue loan, rifa precision machinery said that after continuous negotiations between the board of directors and management of airwork and the bank consortium to actively safeguard the interests of shareholders, airwork and the bank consortium have reached a consensus on the terms of the loan renewal agreement and signed a loan renewal agreement on august 22, 2024, with the loan renewal until july 31, 2025. airwork has currently resolved the overdue loan issue.

in addition, because the controlling shareholder rifa group failed to fulfill its performance compensation obligations, rifa precision machinery filed a lawsuit with the hangzhou intermediate people's court in june 2023 to protect the company's rights and interests. regarding the progress of this matter, rifa precision machinery stated that the hangzhou intermediate people's court had accepted the case on june 8, 2023, and on december 11, 2023, the hangzhou intermediate people's court opened a trial of the case, and the first instance has not yet been judged.