Investment Rating - The investment rating for the company is "Outperform" (maintained) [2] Core Views - The company focuses on new energy (wind power, hydrogen energy, energy storage) and new infrastructure (power grid, data centers) [2] - The company reported a revenue of 180 million yuan in H1 2025, a year-on-year increase of 15.41%, while the net profit attributable to the parent company was 14.48 million yuan, a decrease of 27.47% [4] - The company is expected to benefit from the growth in the clean energy sector, particularly in wind power and energy storage, leading to increased order volumes and revenue [5][6] Financial Summary - The total market capitalization of the company is 3.506 billion yuan, with a circulating market capitalization of 984 million yuan [2] - The company's revenue is projected to grow from 347 million yuan in 2024 to 659 million yuan in 2027, reflecting a compound annual growth rate (CAGR) of approximately 20.8% [8] - The net profit attributable to the parent company is expected to increase from 30 million yuan in 2024 to 70 million yuan in 2027, with corresponding EPS rising from 0.34 yuan to 0.80 yuan [8] - The company has a current P/E ratio of 79.0 for 2025, which is expected to decrease to 49.9 by 2027, indicating improving valuation metrics [8] Market Dynamics - The demand for onshore and offshore wind power installations is expected to grow, driven by national carbon neutrality goals and advancements in technology [5] - The company has established partnerships with several universities for research and development, enhancing its innovation capabilities [6]

方盛股份（832662）今日下跌9.78%，全天换手率28.64%，成交额2.92亿元，振幅12.90%。龙虎榜数据 显示，机构净卖出512.36万元，营业部席位合计净卖出776.21万元。 北交所公开信息显示，当日该股因日换手率达28.64%上榜，机构专用席位净卖出512.36万元。 | 买/ | 会员营业部名称 | 买入金额（万 | 卖出金额（万 | | --- | --- | --- | --- | | 卖 | | 元） | 元） | | 买一 | 东方财富证券股份有限公司拉萨东环路第二证券营业部 | 457.80 | 337.71 | | 买二 | 机构专用 | 302.29 | 302.50 | | 买三 | 东方财富证券股份有限公司拉萨金融城南环路证券营业 | 294.97 | 330.76 | | | 部 | | | | 买四 | 东方财富证券股份有限公司上海徐汇区云锦路证券营业 | 268.32 | 248.66 | | | 部 | | | | 买五 | 招商证券股份有限公司深圳福民路证券营业部 | 266.38 | 12.30 | | 卖一 | 机构专用 | 139.59 | 651.74 ...

每经讯，2025年8月21日，北交所上市公司方盛股份（832662，收盘价：40.05元）登上龙虎榜，交易方式是连续竞价，披露原因 是当日换手率达到28.64%，成交数量703.93万股，成交金额2.92亿元。买一席位为东方财富证券股份有限公司拉萨东环路第二证 券营业部，买入457.8万元；卖一席位为机构专用，卖出651.74万元。 | | 2025-08-21方盛股份(832662) 龙虎榜 | | | | --- | --- | --- | --- | | 序号 | 交易营业部名称 | 买入金额(元) | 卖出金额(元) | | ポリ | 东方财富证券股份有限公司拉萨东环路第二证券营业部 | 4578023.53 | 3377056.99 | | 买2 | 机构专用 | 3022918.56 | 3024984.88 | | न्नें3 | 东方财富证券股份有限公司拉萨金融城南环路证券营业部 | 2949748 77 | 3307592.86 | | नेटर | 东方财富证券股份有限公司上海徐汇区云锦路证券营业部 | 2683194 29 | 2486598.66 | | ન્નેર | 招商证券股份 ...

Core Viewpoint - The report highlights that Fangsheng Co., Ltd. has experienced revenue growth driven by strong demand in the wind power sector, while new growth areas such as energy storage, data center liquid cooling, and hydrogen energy are expected to contribute significantly in the future [1][3]. Financial Performance - In the first half of 2025, Fangsheng Co., Ltd. achieved revenue of 180 million yuan, a year-on-year increase of 15.41%, while net profit attributable to shareholders was 14.48 million yuan, a decline of 27.47% [1]. - The second quarter of 2025 saw revenue of 106 million yuan, up 11.75% year-on-year and 41.70% quarter-on-quarter, with net profit of 7.46 million yuan, down 35.70% year-on-year but up 6.41% quarter-on-quarter [1]. Product Performance - Revenue from heat exchangers and systems showed steady growth, with domestic sales increasing, leading to a decline in gross margin. Specifically, revenue for heat exchange systems, plate-fin heat exchangers, and other products was 51 million, 123 million, and 5 million yuan respectively, with year-on-year changes of 17.73%, 16.87%, and -21.85% [2]. - The gross margin for the first half of 2025 was 19.74%, down 5.73 percentage points year-on-year, primarily due to the increased proportion of lower-margin domestic sales [2]. Market Outlook - The wind power market is expected to see a 50% revenue growth in 2025, driven by strong demand for orders. Additionally, the company is actively expanding into new areas such as energy storage, hydrogen energy, and data center liquid cooling, with expectations for new business revenue to potentially double [3]. - The company maintains its profit forecast for 2025-2027, projecting net profits of 43 million, 61 million, and 80 million yuan respectively, with corresponding price-to-earnings ratios of 90, 64, and 49 times [3].

Investment Rating - The report maintains a rating of "Accumulate" for the company [1] Core Views - The demand in the wind power sector is robust, with energy storage, hydrogen energy, and data center liquid cooling identified as significant new growth points for the future [3] - The company is expected to see a revenue increase of approximately 50% in the wind power sector for 2025, with stable growth in lithium battery waste heat recovery and engineering machinery sectors [3] - Emerging businesses, particularly in data center liquid cooling, are projected to double their revenue, contributing to the company's future growth [3] - The report maintains previous profit forecasts, estimating net profits for 2025-2027 at 0.434 billion, 0.609 billion, and 0.799 billion respectively, with corresponding P/E ratios of 90, 64, and 49 [3] Financial Summary - Total revenue for 2023 is projected at 3.4338 billion, with a year-on-year change of -2.71% [1] - The net profit attributable to shareholders for 2023 is estimated at 626.1 million, reflecting a year-on-year increase of 16.01% [1] - The latest diluted EPS for 2023 is expected to be 0.72 yuan per share, with a P/E ratio of 62.07 [1] - The company anticipates a total revenue of 4.5416 billion in 2025, representing a year-on-year growth of 30.82% [1] - The net profit attributable to shareholders for 2025 is projected at 434.1 million, with a year-on-year growth of 45.63% [1]

证券之星消息，8月20日，方盛股份（832662）融资买入613.77万元，融资偿还575.96万元，融资净买入 37.81万元，融资余额3470.28万元，近3个交易日已连续净买入累计892.03万元，近20个交易日中有13个 交易日出现融资净买入。 | 交易日 | 融资净买入(元) | 融资余额(元) | 占流通市值比 | | --- | --- | --- | --- | | 2025-08-20 | 37.81万 | 3470.28万 | 3.18% | | 2025-08-19 | 693.58万 | 3432.48万 | 3.05% | | 2025-08-18 | 160.64万 | 2738.90万 | 2.33% | | 2025-08-15 | 26.71万 | 2578.26万 | 2.67% | | 2025-08-14 | 760.62万 | 2551.55万 | 2.85% | 融券方面，当日无融券交易。 融资融券余额3470.28万元，较昨日上涨1.1%。 | 交易日 | 两融余额(元) | 余额变动(元) | 变动幅度 | | --- | --- | --- | --- | | ...

Core Viewpoint - Fangsheng Co., Ltd. (832662) experienced a decline of 3.06% today, with a turnover rate of 26.43% and a transaction volume of 285 million yuan, indicating significant trading activity and potential volatility in the stock [2] Trading Activity - The stock was listed on the龙虎榜 due to its turnover rate reaching 26.43%, with institutional investors net buying 3.53 million yuan [2] - The top five trading departments had a total transaction volume of 68.88 million yuan, with buying amounting to 33.35 million yuan and selling amounting to 35.53 million yuan, resulting in a net selling of 2.19 million yuan [2] - Among the trading departments, two institutional specialized seats were present, with a total buying amount of 10.05 million yuan and selling amount of 6.52 million yuan, leading to a net buying of 3.53 million yuan [2] Historical Performance - Over the past six months, the stock has appeared on the龙虎榜 23 times, with an average price increase of 2.30% the day after being listed and an average increase of 9.22% over the following five days [2]

Investment Rating - The investment rating for the company is "Accumulate" (maintained) [5] Core Views - The company achieved a revenue of 180 million yuan in H1 2025, representing a year-on-year increase of 15%. The growth is attributed to the demand in the wind power sector and the expansion into new fields such as energy storage, data centers, and electricity [7] - The company's internal sales revenue increased by 40% year-on-year, driven by the rising demand in the wind power sector and successful development of new customers in energy storage and data centers [7] - The company is focusing on a differentiated and integrated product development strategy, enhancing its core competitiveness through technological upgrades and market expansion [7] - The projected net profits for the company from 2025 to 2027 are 48 million, 61 million, and 74 million yuan respectively, with corresponding price-to-earnings ratios of 83.5, 66.2, and 54.2 times [8] Financial Summary - As of August 19, 2025, the company's closing price is 45.79 yuan, with a total market capitalization of 4,008.91 million yuan and a circulating market capitalization of 1,125.55 million yuan [3] - The company's total assets are projected to reach 669 million yuan in 2025, with a debt ratio of 25.07% [3][9] - The company expects to achieve a revenue of 435 million yuan in 2025, with a year-on-year growth rate of 25.28% [8]

（文章来源：证券日报） 证券日报网讯 8月19日晚间，方盛股份发布公告称，报告期内公司实现营业收入179，963，579.78元， 同比增长15.41%；归属于上市公司股东的净利润为14，478，650.26元，同比下降27.47%。 ...

（文章来源：证券日报） 证券日报网讯 8月19日晚间，方盛股份发布公告称，公司第四届董事会第十二次会议审议通过了《关于 公司募集资金存放与实际使用情况的专项报告的议案》等。 ...