证券代码：920690 证券简称：捷众科技 公告编号：2026-001 浙江捷众科技股份有限公司 2025 年年度业绩预告公告 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。 特别提示：本公告所载 2025 年年度主要财务数据为初步核算数据，未经会 计师事务所审计，具体数据以公司 2025 年年度报告中披露的数据为准，提请投 资者注意投资风险。 一、本期业绩预告情况 √年度实现盈利，且扣除非经常性损益后的净利润与上年同期相比上升 单位：万元 | 项目 | 本报告期 | 上年同期 | 变动比例% | | --- | --- | --- | --- | | 归属于上市 公司 | 6700～8200 | 6,251.14 | 7.18%～31.18% | | 股东的净利润 | | | | | 归属于上市 公司 股东的扣除 非经 | 6600～8100 | 5,263.25 | 25.40%～53.90% | | 常性损益后 的净 | | | | | 利润 | | | | 二、本期业绩重大变化的主要原因 本报告 ...

Group 1 - The humanoid robot industry and core component sectors are attracting significant investment focus, with 25 companies listed on the Beijing Stock Exchange (BSE) having a total market value close to 90 billion yuan as of January 8, 2026 [1][4][6] - The BSE humanoid robot companies primarily focus on upstream components such as motors, batteries, bearings, and sensors, while only one company, China Machinery Science Group's Jike Co., is involved in midstream system integration [6][9] - The humanoid robot industry is expected to transform human production and lifestyle, becoming a new engine for economic growth, with the industry chain divided into upstream core components, midstream manufacturing, and downstream application providers [4][6] Group 2 - Guangdong Liwang New Energy Co. has signed a contract with Tsinghua University Shenzhen International Graduate School to develop high-power lithium-ion batteries for humanoid robots, aiming to capture market opportunities in the high-end battery sector [2] - Zhejiang Jiezong Technology Co. has partnered with Hangzhou Yunshe Technology Co. to develop specialized gears for humanoid and quadruped robots, focusing on performance and cost advantages [3] - Sichuan Tianlian Robot Co. has announced potential strategic cooperation with Baisheng Intelligent, indicating ongoing collaboration in the humanoid robot sector [3][9] Group 3 - As of January 8, 2026, 20 out of the 25 humanoid robot companies on the BSE have a market value exceeding 2 billion yuan, with five companies surpassing 5 billion yuan [9] - Over 40% of the humanoid robot companies on the BSE have a price-to-earnings (P/E) ratio below 40, indicating potential investment attractiveness [9] - The average net profit of the humanoid robot companies over the past three years is in the tens of millions, with several companies exceeding 100 million yuan in average net profit [9]

Investment Rating - The report suggests a focus on the automotive industry, particularly in areas such as robotics, solid-state batteries, and intelligent driving for 2026 [2][32]. Core Insights - The total market capitalization of automotive stocks on the Beijing Stock Exchange increased by 70% in 2025, with notable stock price increases for companies like Kaiter Co., which saw a rise of 178% [2][21]. - In 2025, China's automotive production and sales reached 31.23 million and 31.12 million units respectively, reflecting year-on-year growth of 11.9% and 11.4% [7][10]. - The report highlights five key trends for 2026 in the automotive sector: (1) localization of core components for robotics, (2) technological breakthroughs in battery segments, (3) transformation and upgrading of electric vehicle components, (4) intelligent driving sensors and electronic systems, and (5) innovative applications of lightweight materials [32][34]. Summary by Sections Automotive Industry Overview - In the first eleven months of 2025, China's automotive production and sales maintained double-digit year-on-year growth, with significant contributions from the collaboration across the supply chain [7][8]. - The report notes that the sales of new energy vehicles accounted for 47.5% of total new car sales during the same period, with production and sales of 14.91 million and 14.78 million units respectively, marking growth rates of 31.4% and 31.2% [8][11]. Market Performance - The median price-to-earnings (P/E) ratio for automotive stocks on the Beijing Stock Exchange increased from 22.07X to 35.26X, a growth rate of 60% [21][23]. - The report indicates that the median market capitalization of automotive stocks rose from 34.134 billion yuan to 58.024 billion yuan [21][23]. Key Companies and Trends - Companies such as Sanxie Electric and JunChuang Technology are highlighted for their potential in the robotics sector, particularly in humanoid robots [32][33]. - The report emphasizes the importance of solid-state batteries as a core direction for future battery technology, with companies like YuanHang Precision and NaKonoer being noted for their advancements [32][34]. - The shift towards lightweight materials in the automotive industry is also discussed, with companies like HeChang Polymer and JiYuan Precision being recognized for their innovative approaches [34].

证券代码：920690 证券简称：捷众科技 公告编号：2025-097 浙江捷众科技股份有限公司 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 □业绩说明会 □媒体采访 □路演活动 □其他 二、 投资者关系活动情况 活动时间：2025 年 12 月 26 日 活动地点：杭州城中香格里拉 参会单位及人员：华源证券研究所、东北证券、中山证券、中泰证券、华鑫 证券、圆信永丰管理有限公司、开源证券、新华基金管理股份有限公司、朴拙投 资（广东）有限公司、浙江宁聚投资管理有限公司、联储证券、长江证券 上市公司接待人员：公司董事、副总经理、董事会秘书:郭一申女士 三、 投资者关系活动主要内容 问题 1：今年公司营收增长，第四季度的产能是否受限？以及对明年的产能 □现场参观 □新闻发布会 □分析师会议 问题 2：公司在机器人业务方面有什么新的进展？ 近期，公司积极抢抓机器人产业发展机遇，大力拓展相关业务版图。公司与 杭州云深处科技股份有限公司达成深度合作 ...

Core Viewpoint - On December 25, 2023, a block trade of 300,000 shares of Jiezhong Technology (920690) was executed at a price of 23.10 yuan, representing a discount of 31.15% compared to the closing price of 33.55 yuan on the same day [2] Group 1: Trade Details - The total transaction amount for the block trade was 6.93 million yuan [2] - The buyer was Guosen Securities Co., Ltd. Zhejiang Branch, while the seller was China Galaxy Securities Co., Ltd. Shaoxing Securities Branch [2] - The stock's trading volume on the same day was 786.44 million yuan, with a turnover rate of 5.44% and a cumulative increase of 5.77% over the past five days [2] Group 2: Company Background - Zhejiang Jiezhong Technology Co., Ltd. was established on November 24, 2004, with a registered capital of 66.3 million yuan [2]

Core Insights - As of December 24, the total margin financing and securities lending balance on the Beijing Stock Exchange reached 7.959 billion yuan, an increase of 71.38 million yuan from the previous trading day, marking a continuous increase for four consecutive trading days [1] - The stocks with the highest margin financing balances include Jinbo Biological, Shuguang Digital Innovation, and Better Energy, with latest balances of 399 million yuan, 370 million yuan, and 339 million yuan respectively [1] - A total of 182 stocks on the Beijing Stock Exchange received net margin purchases on December 24, with 44 stocks having net purchases exceeding 1 million yuan, led by Tianli Composite with a net purchase of 9.5846 million yuan [1][2] Margin Financing Overview - The margin financing balance increased for the following stocks on December 24: - Tianli Composite: 572.73 million yuan, up by 9.5846 million yuan, with a market value ratio of 0.67% [2] - Tiangong Co.: 321.16 million yuan, up by 6.5918 million yuan, with a market value ratio of 2.46% [2] - Hongyu Packaging: 254.18 million yuan, up by 6.407 million yuan, with a market value ratio of 0.83% [2] Industry Performance - The industries with the highest concentration of stocks receiving net margin purchases over 1 million yuan include machinery equipment, automotive, and basic chemicals, with 6, 5, and 4 stocks respectively [2] - On December 24, stocks with net margin purchases exceeding 1 million yuan had an average increase of 0.98%, with notable gainers including Tiangong Co. (up 16.15%), Jiahe Technology (up 9.60%), and Litong Technology (up 6.73%) [2] - The average turnover rate for stocks with net margin purchases over 1 million yuan was 4.60%, with the highest turnover rates seen in Tiangong Co. (38.53%), Xingchen Technology (21.24%), and Knight Dairy (18.00%) [2]

Group 1 - The report highlights the performance of the North Exchange in 2025, indicating a significant rise in the North Index 50 to around 1400 points, with three distinct phases of market movement: rapid increase, oscillating rise, and a correction phase [2][12][15] - In the rapid increase phase (January 1 - March 11, 2025), the North Index 50 surged from 1,037.81 to 1,418.65 points, achieving a cumulative return of 36.70%, while the specialized index rose from 1,683.33 to 2,421.50 points, with a return of 43.85% [15][16] - The oscillating rise phase (April 7 - September 5, 2025) saw the North Index 50 increase from 1,044.07 to 1,647.01 points, yielding a cumulative return of 58.70%, and the specialized index from 1,759.64 to 2,806.39 points, with a return of 66.72% [16][17] Group 2 - The correction phase (September 15 - December 19, 2025) stabilized the North Index 50 and specialized index around 1400 and 2400 points, respectively, with the North Index 50 declining to 1,445.84 points and the specialized index to 2,440.21 points, resulting in cumulative returns of 39.32% and 44.96% [17][23] - The report emphasizes the performance of small-cap stocks, indicating that companies with market capitalizations of 0-20 billion, 20-40 billion, 40-80 billion, and above 80 billion had average returns of 54.08%, 38.60%, 18.26%, and 30.59%, respectively [26][31] - The report identifies that national and provincial-level "little giant" companies outperformed non-little giant firms, with average returns of 48.26%, 38.06%, and 39.19% for national, provincial, and non-little giants, respectively [27][29] Group 3 - The report highlights that national and provincial-level single champion companies achieved average returns of 59.27% compared to 39.61% for non-single champion companies [32][34] - In terms of industry performance, high-end equipment and new chemical materials sectors showed higher returns, with average returns of 50.20%, 28.67%, 48.49%, 40.43%, and 43.56% for high-end equipment, information technology, new chemical materials, consumer services, and biomedicine, respectively [34][36] - The report also notes that companies with new productive forces, ESG attributes, high scarcity, and high dividends had average returns of 50.49%, 48.44%, 49.14%, and 57.51%, respectively, indicating a strong performance in these categories [37][43]

Group 1 - The average return of 11 theme funds on the Beijing Stock Exchange (BSE) reached 52.12% in 2025, indicating a strong performance and potential for diversified investor participation as the two-year fixed-open products become available for subscription and redemption [1][19][20] - The number of public fund institutions investing in BSE stocks increased to 29 by the end of 2024, a year-on-year growth of 31.82%, with the number of heavily invested companies rising from 34 to 41 in the first three quarters of 2025 [11][12] - The BSE's market performance shows a shift towards diversified investment styles, with a focus on emerging industries such as intelligent connected new energy vehicles, commercial aerospace, low-altitude economy, and robotics [1][31] Group 2 - The BSE 50 Index reported a value of 1,387.70 points, with a week-on-week increase of 0.75%, while the BSE specialized and new index reached 2,317.70 points, up 0.79% [2][43] - The TTM PE ratios for various sectors on the BSE include high-end equipment at 38.37X, information technology at 84.54X, and chemical new materials at 42.21X, indicating sector-specific valuation trends [2][33] - The top ten companies by market value held by funds on the BSE as of Q3 2025 include Jinbo Bio, Naconoer, and Better Energy, with significant changes in holdings reflecting market dynamics [22][23][24] Group 3 - The BSE's passive index fund scale has seen significant growth, with the BSE 50 Index fund size reaching 128.93 billion yuan by November 28, 2025, and the number of tracking products increasing to 68 [13][16] - The fund holdings on the BSE show that 59.17% of companies have a market value between 2-5 billion yuan, while 49.17% of companies reported a net profit of less than 50 million yuan in 2024 [27][29] - The industry allocation preferences of funds on the BSE are similar to those on the dual innovation board, with the top five sectors being machinery, hardware equipment, electrical equipment, automotive parts, and software services [31][32]

证券代码：920690 证券简称：捷众科技 公告编号：2025-096 一、 投资者关系活动类别 □特定对象调研 □业绩说明会 □媒体采访 √现场参观 □新闻发布会 √分析师会议 浙江捷众科技股份有限公司 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。 现场参观：东吴证券、东北证券、浙商证券、海南盛熙私募基金管理合伙企 业（有限合伙）、上海德宁资本投资管理有限公司、杭州正班私募基金管理有限 公司、珺州基金 上市公司接待人员：公司总经理、副董事长：孙坤先生；公司董事、副总经 理、董事会秘书:郭一申女士；副总经理：魏晓慧先生 □路演活动 □其他 二、 投资者关系活动情况 活动时间：2025 年 10 月 29 日和 2025 年 10 月 30 日 活动地点：：进门财经线上电话会议和公司会议室、车间 参会单位及人员：由国联民生证券刘建伟女士主持的电话会议，线上参与单 位有：国联民生证券、创金合信基金管理有限公司、阳光资产管理股份有限公司、 开源资管、开源证券、兴业证券、浦银安盛基金、华 ...

Investment Rating - The investment rating for the company is "Accumulate" (maintained) [1] Core Views - The company has shown rapid revenue growth, with a projected increase in production capacity from fundraising projects expected to commence in 2026 [3][4] - The company is expanding into emerging industries such as military, semiconductors, and robotics, which may enhance future growth prospects [4][6] Financial Performance - For the first three quarters of 2025, the company achieved a revenue of 275 million yuan, representing a year-on-year growth of 46.71%, and a net profit attributable to the parent company of 53 million yuan, up 20.27% year-on-year [4] - In Q3 2025, the company reported a revenue of 113 million yuan, a year-on-year increase of 48.46%, with a net profit of 23 million yuan, reflecting a 34.15% year-on-year growth [4] Profitability Metrics - The gross margin for the first three quarters of 2025 was 36.58%, a decrease of 2.30 percentage points year-on-year, while the net margin was 19.39%, down 4.26 percentage points year-on-year [6] - The company’s operating cash flow for the first three quarters of 2025 was 67 million yuan, a significant increase of 70.88% year-on-year, attributed to higher sales and improved customer payment collections [6] Future Projections - Revenue forecasts for 2025-2027 are 427 million yuan, 544 million yuan, and 658 million yuan, with year-on-year growth rates of 49.29%, 27.55%, and 20.98% respectively [7] - Net profit projections for the same period are 75 million yuan, 91 million yuan, and 110 million yuan, with growth rates of 19.65%, 21.57%, and 20.85% respectively [7] Valuation Metrics - The expected earnings per share (EPS) for 2025-2027 are 1.13 yuan, 1.37 yuan, and 1.66 yuan, with corresponding price-to-earnings (P/E) ratios of 30.52X, 25.10X, and 20.77X [6][7]