Group 1 - The core point of the article highlights the performance of A-share stocks in July, with significant gains observed in specific companies [1] - The top performer, Aowei New Materials, achieved a cumulative increase of 1083.42% in July, ranking first among A-share stocks [1] - Guangsheng Tang ranked second with a cumulative increase of 218.94% during the same period [1]

Market Overview - The engineering machinery sector experienced a decline of 1.75% on July 31, with Hengli Drilling leading the drop [1] - The Shanghai Composite Index closed at 3573.21, down 1.18%, while the Shenzhen Component Index closed at 11009.77, down 1.73% [1] Top Performers - Tianyuan Intelligent (603273) saw a significant increase of 10.02%, closing at 21.09 with a trading volume of 218,000 shares and a turnover of 455 million yuan [1] - Southern Road Machinery (603280) also rose by 10.01%, closing at 54.86 with a trading volume of 82,400 shares [1] - Changling Hydraulic (605389) increased by 9.99%, closing at 48.99 with a trading volume of 45,400 shares [1] Underperformers - Hengli Drilling (836942) experienced the largest decline, down 11.39% to 57.90 with a trading volume of 135,500 shares and a turnover of 811 million yuan [2] - Tuoshan Heavy Industry (001226) fell by 9.97%, closing at 40.00 with a trading volume of 109,400 shares [2] - Wuxin Suizhuang (835174) decreased by 7.19%, closing at 64.67 with a trading volume of 87,500 shares [2] Capital Flow - The engineering machinery sector saw a net outflow of 566 million yuan from institutional investors and 196 million yuan from speculative funds, while retail investors contributed a net inflow of 762 million yuan [2][3] - Notable capital flows include Huadong Heavy Machine (002685) with a net inflow of 17.7 million yuan from institutional investors, while Tianyuan Intelligent (603273) had a net outflow of 143 million yuan from institutional investors [3]

Market Overview - On July 31, the A-share market closed with the Shanghai Composite Index at 3573.21, down 1.18%, and the Shenzhen Component Index at 11009.77, down 1.73% [1] Top Stocks Performance - Among the top 10 stocks by trading volume on the Beijing Stock Exchange, 5 stocks experienced price increases, with an average increase of 102.09%. N Dingjia (920005) led with a trading volume of 1.06 billion yuan and a price increase of 479.12% [1][2] - The other stocks in the top 10 included Hengli Drilling Tools (836942) with a decrease of 11.39%, Wuxin Suizhuang (835174) down 7.19%, and Parallel Technology (839493) up 1.73% [2] Capital Flow Analysis - In terms of capital flow, 5 out of the top 10 stocks showed net inflows of main funds, indicating positive investor sentiment towards these stocks [1]

Group 1 - The core point of the article highlights that Hengli Drilling Tools (stock code: 836942) experienced significant trading activity on July 30, 2025, with a turnover rate of 34.96% and a trading volume of 14.32 million shares, amounting to a transaction value of 983 million yuan [1] - The top buyer was Dongfang Caifu Securities Co., Ltd., Lhasa Donghuan Road Second Securities Business Department, purchasing shares worth 17.54 million yuan [1] - The top seller was Ping An Securities Co., Ltd., Beijing Branch, selling shares worth 29.42 million yuan [1]

投资者关系活动记录表 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连 带法律责任。 一、 投资者关系活动类别 √特定对象调研 二、 投资者关系活动情况 活动时间：2025 年 7 月 29 日 活动地点：武汉恒立工程钻具股份有限公司 参会单位及人员：开源证券 上市公司接待人员：总经理徐静松先生、副总经理兼董事会秘书余德锋先生 三、 投资者关系活动主要内容 本次活动的主要问题及公司对问题的回复概要如下： 证券代码：836942 证券简称：恒立钻具 公告编号：2025-057 武汉恒立工程钻具股份有限公司 问题 1：公司的产品采用什么样的定价方式？ 回答：公司一般采取成本加成的定价方式确定销售指导价格，依据各类产品 □业绩说明会 □媒体采访 □现场参观 □新闻发布会 □分析师会议 □路演活动 □其他 境外销售，一般按合同约定采用 FOB、CIF 等方式，货物控制权转移时点公 司确认收入，具体为报关单上或提单上记载的出口日期。 的客户定制化要求（如是否镶齿、是否单双刃、产品尺寸、刀具搭配等）、材料 选用（如硬质合金使用量、 ...

Group 1: Pricing Strategy - The company generally adopts a cost-plus pricing strategy to determine sales guidance prices, considering factors such as customer customization requirements, material selection, production complexity, customer demand, creditworthiness, and actual payment cycles [4] - Higher customization, complex components, and lower customer demand lead to a higher cost-plus rate and internal guidance price [4] Group 2: Remanufacturing Services - The remanufacturing service involves professional repair of customers' used engineering rock drilling tools, ensuring the remanufactured products meet the same quality and performance as new ones [5] - The process includes inspection, disassembly, cleaning, repair, and replacement of parts to enhance the reuse rate and reduce costs for customers [5] Group 3: Revenue Recognition Standards - For domestic sales, revenue is recognized based on the transfer of control as per the sales contract, categorized into acceptance confirmation and signing confirmation [6] - For international sales, revenue is recognized based on the terms of the contract, typically at the export date recorded on customs or bill of lading [6] Group 4: M&A Plans - The company is attentive to industry consolidation opportunities, focusing on upstream and downstream of the industry chain, with no current M&A transactions disclosed [7][8] - Future M&A plans will be disclosed in accordance with listing rules if they arise [8] Group 5: Subsidiary Applications - Suzhou Aidu's products are primarily used in the development of nickel-based alloys and various wear-resistant and corrosion-resistant materials, applied in twin-screw extruder components [9] - The twin-screw extruder is widely used in industries such as new energy, plastics, food, and chemicals, with promising future development prospects [9]

买入金额最大的前5名营业部 买入额/万 卖出额/万 净额/万 东方财富证券股份有限公司拉萨东环路第二 证券营业部 1753.94 977.31 776.63 东方财富证券股份有限公司拉萨团结路第二证券营业部 1388.12 2279.16 -891.04 东方财富证券股份有限公司拉萨东环路第一证券营业部 1162.64 1568.71 -406.07 中国银 河证券股份有限公司上海长宁区镇宁路证券营业部 1152.31 1357.90 -205.59 机构专用 1055.08 690.45 364.63 卖出金额最大的前5名营业部 买入额/万 卖出额/万 净额/万 平安证券股份有限公司北京市分公司 344.54 2942.42 -2597.88 东方财富证券股份有限公司拉萨团结路第二证券营业部 1388.12 2279.16 -891.04 华安证券股份有限公司西安西长安街营业部 17.11 1590.60 -1573.49 东方财富证券股份有限公司拉萨东 环路第一证券营业部 1162.64 1568.71 -406.07 中国银河证券股份有限公司上海长宁区镇宁路证券营业部 1152.31 1357.90 - ...

作者：智投君 龙虎榜显示，买入前五合计买入8658.17万元，卖出前五合计卖出1.59亿元，净额-7269.48万元。 其中，东方财富证券股份有限公司拉萨团结路第二证券营业部、东方财富证券股份有限公司拉萨东环路 第二证券营业部、东方财富证券股份有限公司拉萨东环路第一证券营业部分别买入2154.85万元、 1741.98万元、1700.62万元。 华鑫证券有限责任公司佛山顺德近良路营业部、平安证券股份有限公司深圳蛇口招商路招商大厦证券营 业部、东方财富证券股份有限公司拉萨东环路第二证券营业部分别卖出5792.95万元、2720.54万元、 2181.19万元。 买入金额最大的前5名营业部 买入额/万 卖出额/万 净额/万 东方财富证券股份有限公司拉萨团结路第二 证券营业部 2154.85 1826.70 328.15 东方财富证券股份有限公司拉萨东环路第二证券营业部 1741.98 2181.19 -439.21 东方财富证券股份有限公司拉萨东环路第一证券营业部 1700.62 1647.01 53.61 东方财富 证券股份有限公司拉萨团结路第一证券营业部 1568.92 1553.79 15.13 中国银河证 ...

Investment Rating - The report does not explicitly provide an investment rating for the industry, but it suggests focusing on sectors with technological scarcity and high financial growth potential, particularly in solid-state batteries, AI hardware, and fertility subsidies [3][19]. Core Insights - The market experienced fluctuations with a notable decrease in trading volume, where the North Exchange A-share trading amount reached 24.24 billion, down by 4.23 billion from the previous trading day [1][7]. - The report highlights the importance of monitoring sectors such as solid-state batteries and AI hardware, which are expected to benefit from recent developments and policy support [3][19]. - The upcoming earnings reports are anticipated to drive structural market trends, with a focus on companies showing high growth potential [3][19]. Summary by Sections Market Review - On July 28, the North Exchange A-share trading volume was 24.24 billion, a decrease of 4.23 billion from the previous day, with the North Exchange 50 Index closing at 1455.37, down 0.25% [1][7]. - Among 268 companies listed, 153 saw an increase in stock prices, while 106 experienced declines, indicating a mixed market performance [1][16]. Important News - The Ministry of Industry and Information Technology emphasized the need to consolidate the results of the comprehensive rectification of the new energy vehicle industry and strengthen governance in the photovoltaic sector [19]. - The State Administration for Market Regulation announced measures to combat low-quality and low-price competition among enterprises [20]. Key Company Announcements - Zizhong Temple announced plans to use up to 290 million yuan of idle funds for low-risk short-term financial products to enhance capital efficiency [21]. - Kairun Intelligent Control received a termination notice from the North Exchange regarding its application for a specific stock issuance [22]. - Dadi Electric announced the establishment of a wholly-owned subsidiary in Anhui Province with a registered capital of 50 million yuan to enhance production capacity [23].

Investment Rating - The report maintains a "Recommended" investment rating for the industry [7] Core Viewpoints - The low-altitude economy is developing well, with strong support from government policies, particularly in emergency equipment and low-altitude applications [3][4] - The mechanical equipment sector is expected to maintain steady growth, driven by competitive advantages in exports and domestic demand [4] Weekly Market Review - From July 20 to July 25, 2025, the Shanghai Composite Index rose by 1.67%, the Shenzhen Component Index by 2.33%, and the ChiNext Index by 2.76%. The Shenwan Mechanical Equipment Index increased by 2.56%, outperforming the CSI 300 Index by 0.86 percentage points, ranking 16th among 31 Shenwan primary industries [12][14] - Sub-sectors such as general equipment, specialized equipment, rail transit equipment II, engineering machinery, and automation equipment saw respective increases of 2.32%, 1.98%, 3.02%, 5.34%, and 1.48% [12][15] Key Sector Tracking - The low-altitude economy sector is bolstered by various government initiatives, including the "Three-Year Action Plan for High-Quality Development of Emergency Equipment Industry in Hunan Province (2025-2027)", aiming for an industry revenue exceeding 100 billion yuan by 2027 [3][25] - The mechanical equipment sector is supported by a recent trade agreement between the US and Japan, which is expected to enhance the competitive position of domestic leading enterprises [4] Investment Recommendations - For the low-altitude economy, recommended companies include Deep City Transportation, Sujiao Science and Technology, Huasheng Group, and Nairui Radar [5] - In the mechanical equipment sector, recommended companies include Sany Heavy Industry, XCMG, and Anhui Heli for engineering machinery, and Huazhong CNC and Kede CNC for industrial mother machines [5]