富士达 20260128 摘要 富士达 2025 年收入符合预期，商业航天贡献超 5,000 万元，主要来自 商星，军星规模更大。四季度军品交付减缓，民用品交付加速，整体延 续前三季度趋势，具体数据待年报披露。 预计 2026 年商业航天将快速增长，民用产品占比有望过半，抵消军品 波动影响。军品形式不确定，可能趋于平稳。民用产品预计在十五期间 快速增长。 一代芯 G60 订单已交付近 200 颗，剩余约 100 颗将在 2026 年继续交 付，具体招标时间未定。二代星招标正在进行中，预计上半年有明确信 息，G60 项目招标时间未定。 富士达在商业卫星领域布局天线、微波器件和波导组件等新产品，重点 推广有源相控阵天线和反射面天线，目前处于方案验证阶段，存在不确 定性。 富士达与华为合作主要涉及商业航天领域的通讯相关产品，目前正在进 行小批量验证，预计 2026 年该业务将有所发展，华为擅长大批量和标 准化产品。 Q&A 富士达公司在 2025 年的业务结构和业绩表现如何？ 2025 年，富士达公司的业务结构主要分为三大块：房屋、航天和民用业务。 总体来看，公司的业绩表现呈现恢复性增长。 富士达高端工业装备和精密 ...

证券时报·数据宝统计显示，截至发稿，富士达上涨0.09%，换手率为4.01%， 成交额为3.22亿元。通过 对2025年业绩预增50%以上的个股走势进行统计发现，预告发布后当日股价上涨的占比60.00%，股价发 布当日股价涨停的有12家。预告发布后5日股价上涨的占比60.00%。（数据宝） （文章来源：证券时报网） 富士达（920640）1月27日发布2025年业绩预增公告，预计实现净利润为7690.00万元~8480.00万元，净 利润同比增长50.41%~65.86%。 ...

智通财经APP获悉，1月22日，天津富士达自行车工业股份有限公司(简称：富士达)申请上交所主板上市 审核状态变更为"已问询"，中泰证券为其保荐机构，拟募资7.73亿元。 招股书显示，富士达主要从事自行车、电助力自行车、共享单车等产品及其关键零部件的研发、设计、 生产与销售业务，产品远销全球近百个国家和地区。 截至 2025 年 6 月末，公司整车年产能合计约 700 万辆，主要在中国天津、江苏常州、越南及柬埔寨设 有生产基地，是我国领先的自行车制造企业，主要为 Specialized（闪电）、 Lectric、Pon、Decathlon （迪卡侬）、Samchuly（三千里）、MFC、Scott、Cycleurope、 Panasonic（松下）等全球著名品牌运 营商，以及哈啰、青桔、美团等国内共享单车运营商提供整车及关键零部件制造服务。 | 项目 | 2025.6.30 | 2024.12.31 | 2023.12.31 | 2022.12.31 | | --- | --- | --- | --- | --- | | | /2025 年 1-6 月 | /2024 年度 | /2023 年度 | /2022 ...

本次冲击上市，富士达拟募集资金约7.73亿元，扣除发行费用后的净额将根据项目的轻重缓急情况投入 电动助力自行车与高端自行车智能制造项目、研发中心建设项目、品牌及营销网络建设项目。 据悉，富士达主要从事自行车、电助力自行车、共享单车等产品及其关键零部件的研发、设计、生产与 销售业务。公司IPO于2025年12月24日获得受理。 北京商报讯（记者 马换换 李佳雪）1月22日晚间，上交所官网显示，天津富士达自行车工业股份有限公 司（以下简称"富士达"）主板IPO进入问询阶段。 ...

Core Viewpoint - The company has established a comprehensive capability system in the aerospace sector, covering research and development, manufacturing, and testing, and maintains long-term stable collaborations with several aerospace research institutes, creating high industry entry barriers [2] Group 1: Product and Capability - The company has developed a mature product standard system, delivery capability, and quality control system, allowing for the continuous reuse and iteration of solutions across different models and projects, leading to long-term customer recognition and an increasing brand influence [2] - The company is focusing on key technology reserves related to commercial satellite demands, particularly in areas such as onboard antennas, single machines and module products, and new technologies like solder-free interconnections, laying the foundation for the mass application of commercial satellites [2] Group 2: Market and Project Collaboration - The company is actively following up on the technical solution upgrades of commercial satellite customers and is deeply involved in product support, having provided core products such as antennas, waveguides, cable components, and connectors for projects like the G60 Qianfan constellation led by Shanghai Yuanxin and the China Star Network GW constellation [2] - The company has accumulated considerable experience in the product support process for previous satellite projects, which provides a competitive advantage in the subsequent phases of these projects as they progress towards mass application [2] Group 3: Cost and Efficiency - The company is continuously enhancing cost efficiency through process optimization and improvements, aiming to increase product cost-performance ratio and delivery capability while meeting the high reliability requirements of the commercial aerospace sector, thus better adapting to the demand for "low cost and high reliability" [2]

Core Viewpoint - The company anticipates a positive overall business performance in 2025, driven by collaborative progress across various business segments [2] Group 1: Defense Sector - The defense sector is experiencing a recovery growth trend, with a steady increase in order volume [2] - Revenue from related products is gradually being released, providing strong support for overall performance [2] Group 2: Commercial Aerospace - The commercial aerospace business is advancing rapidly, further solidifying steady development in the aerospace field [2] Group 3: Civil Communication - In the civil communication sector, emerging business areas such as high-end industrial equipment and precision measurement instruments are accelerating expansion [2] - These new business areas are injecting strong new momentum for growth [2] Group 4: Overall Business Stability - The company maintains a stable order backlog, with a high capacity utilization rate [2] - This foundation supports the company's robust and sustainable development [2]

证券日报网1月15日讯，富士达在接受调研者提问时表示，公司较早开展量子相关技术布局，已持续投 入十年以上，并成功研发出可应用于超导量子计算机的相关产品，是国内较早实现该类产品实际应用的 企业之一。目前，公司量子业务的核心产品为低温超导射频缆，并同步布局相关连接组件及低温微波器 件，主要用于在极低温环境下实现信号的稳定传输、控制与监测，相关产品已实现关键技术突破，部分 核心性能指标具备一定竞争优势，业务整体仍处于产业化初期阶段。在应用方面，公司产品已用于国内 科研院所及相关企业的超导量子计算机项目，目前以小批量供货为主，已形成一定规模的营业收入。 （文章来源：证券日报） ...

Core Viewpoint - The company is shifting its strategic focus towards providing complete RF interconnection solutions in response to the increasing demand for system-level integration in emerging fields such as commercial aerospace, intelligent connected vehicles, computing power, and quantum computing [2] Group 1: Product Offerings - The company's main products include RF coaxial connectors, RF cable assemblies, RF cables, advanced ceramics, and RF links [2] - The company has completed technical reserves for related products such as special antennas and active/passive microwave devices [2] Group 2: Market Trends - There is a growing trend among customers to prefer suppliers that can offer comprehensive solutions rather than single components due to the complexity of RF connection needs [2] - The strategic shift towards RF links is aimed at enhancing the company's competitive edge and aligning with industry technological developments and market demands [2] Group 3: Strategic Direction - The company aims to elevate its position in the value chain by transitioning from a component supplier to a provider of system-level RF interconnection solutions [2]

Core Viewpoint - The article highlights significant stock price increases for several companies, indicating positive market sentiment and potential investment opportunities in the respective sectors [1]. Group 1: Company Performance - 德美化工 (Demei Chemical) reached its daily limit increase, indicating strong investor interest and confidence in its future performance [1]. - 科大国创 (Keda Guochuang) saw a rise of over 10%, suggesting robust market activity and potential growth prospects [1]. - Other companies such as 国盾量子 (Guodun Quantum), 格尔软件 (Geer Software), 辰光医疗 (Chenguang Medical), 吉大正元 (Jida Zhengyuan), and 富士达 (Fushida) also experienced notable stock price increases, reflecting a broader positive trend in the market [1].

Core Viewpoint - The quantum technology sector experienced significant fluctuations, with notable stock price increases for several companies, indicating growing investor interest and market activity in this field [1] Group 1: Company Performance - 德美化工 (Demei Chemical) reached its daily limit increase, reflecting strong market confidence [1] - 科大国创 (Keda Guochuang) saw its stock price rise by over 10%, showcasing robust investor enthusiasm [1] - Other companies such as 国盾量子 (Guodun Quantum), 格尔软件 (Geer Software), 辰光医疗 (Chenguang Medical), 吉大正元 (Jida Zhengyuan), and 富士达 (Fushida) also reported significant gains, contributing to the overall positive sentiment in the quantum technology sector [1]