中国石油股份 （派息日） 建业新生活 （派息日） 智通财经APP获悉，2025年10月23日，港股上市公司投资日志如下： | 类别 | | 公司 | | --- | --- | --- | | | 八马茶业 | | | | (招股中) | | | | 剑桥科技 | | | | (招股中) | | | 新股活动 | 三一重工 | | | | (招股中) | | | | 滴普科技 | | | | (招股中) | | | | 普拉达 | | | | 丽珠医药 | | | 业绩公布日 | 法拉帝 | | | | 平安好医生 | | | | 龙源电力 | | | | 东方海外国际 | | | | 青岛港 | | | | 中国创新投资 | | | | 重庆机电 | | | 股东大会召开日 | 大唐发电 | | | | 安德利果汁 | | | | 弘业期货 | | | | 西藏水资源 | | | | 中国安储能源 | | | 分红派息 | 恒生银行 | | | | （除净日） | | | | 华讯 | | | | （派息日） | | | | 万事昌国际 | | | | （派息日） | | | | 致丰工业电子 | | | ...

智通财经APP获悉，东方证券发布研报称，产业链上游钛精矿供需缺口中期有望继续收窄，原材料供给 趋于宽松或将使得钛材加工企业成本下行，推动企业释放盈利空间;钛材钛合金下游应用领域广阔，航 空航天、3C等领域的需求上升有望打开在相关行业布局的企业的产品市场空间。相关标的：天工国际 (00826)、金天钛业(688750.SH)及宝钛股份(600456.SH)。 东方证券主要观点如下： 上游钛精矿供给或趋于宽松，价格下行有望利好下游钛材企业 近年钛精矿产量下行，且中游钛白粉、海绵钛冶炼产能扩产迅速，使得上游供需出现缺口，市场普遍认 为钛精矿价格将会保持高位。但实际情况是供需缺口并未使得钛精矿价格走高，该行认为原因或在于钛 精矿生产企业的库存增加，使得隐性供给过剩无法被完全统计。观察统计中期钛精矿供需的边际变化 后，该行判断，2025-2027年上游钛精矿供需缺口有望收窄，供给趋于宽松或使得价格继续下行，下游 钛材企业有望受益于原材料价格下降带来的生产成本降低，进一步释放利润空间。 供给：钛精矿近年产量下行，中期或持续扩产放量 近年由于澳大利亚老矿山关停及新矿山勘探进展缓慢，全球钛精矿储量下行，2024年全球储量同比 ...

天工国际(00826.HK)公布，于2025年10月21日，该公司(作为借款人)与一香港持牌银行订立股息贷款融 资协议，其总额为港币7820.75万元。该融资协议为无扺押及计息贷款，结欠金额的期限为一年。 截至2025年10月21日收盘，天工国际(00826.HK)报收于2.93港元，上涨1.74%，成交量1691.4万股，成交 额4957.89万港元。投行对该股的评级以买入为主，近90天内共有2家投行给出买入评级，近90天的目标 均价为3.7港元。第一上海最新一份研报给予天工国际买入评级，目标价4.38港元。 机构评级详情见下表： 天工国际港股市值78.48亿港元，在钢铁行业中排名第1。主要指标见下表： | 指标 | 天工国际 | 钢铁 行业平均 | 行业排名 | | --- | --- | --- | --- | | ROE | 5.27% | -39.13% | 3 14 | | 港股流通市值 | 78.48 Z | 18.24 Z | 1 14 | | 营业收入 | 46.53 Z | 220.05亿 | 7 14 | | 净利率 | 9.33% | -15.34% | 1 14 | | 毛利率 | ...

根据该融资协议，公司的控股股东朱小坤先生及朱泽峰先生需于该融资可供使用期间维持直接或间接实 益拥有不少于公司股本45%。于本公告日期，朱小坤先生及朱泽峰先生合共实益拥有公司已发行股本约 54.36%。 天工国际(00826)公布，于2025年10月21日，该公司(作为借款人)与一香港持牌银行订立股息贷款融资协 议，其总额为港币7820.75万元。该融资协议为无扺押及计息贷款，结欠金额的期限为一年。 ...

天工國際有限公司* 香港交易及結算所有限公司以及香港聯合交易所有限公司對本公告之內容概不負 責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不會就因本公告全部 或任何部分內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 Tiangong International Company Limited (於開曼群島註冊成立的有限公司) (股份代號: 826) 對本公司控股股東施加 特定履約責任之融資協議 違反特定履約責任可能導致該銀行宣佈終止其義務及/或宣佈所有未償還款項連同 應計利息及本公司及附屬公司的其他應付款項即時到期支付。 本公司在有關特定履約責任繼續存在之情況下，將根據上市規則第 13.21 條之規 定，於隨後的中期及年度報告內就此作出披露。 承董事會命 天工國際有限公司 主席 朱小坤 香港，二零二五年十月二十一日 於本公告日期，本公司董事為： 執行董事：朱小坤、朱澤峰、吳鎖軍及蔣光清 獨立非執行董事：李卓然、王雪松及秦珂 本公告乃由天工國際有限公司（「本公司」）之董事會（「董事會」）根據香港聯 合交易所有限公司證券上市規則（「上市規則」）第 13.18 條之披露規定而作。 於二零二五年十月 ...

Core Viewpoint - Apple's first foldable screen product is expected to be released in 2026, showcasing extreme industrial design aesthetics with features such as no creases, ultra-thinness, and high durability, leading to a rapid increase in annual shipments [1][2] Group 1: Product Features and Material Usage - The use of titanium and titanium alloys is anticipated to significantly increase in foldable screens due to their high strength, corrosion resistance, and good surface texture [2] - The frame of the foldable phone must provide sufficient structural support while minimizing weight, making titanium alloy frames superior to aluminum in terms of bending resistance and lightweight properties [2] - The screen backing, which supports the flexible OLED screen, is likely to use pure titanium to balance weight, performance, and processing costs [2] Group 2: Industry Trends and Technological Advancements - The maturity of 3D printing and other forming processes is expected to enhance the penetration of titanium alloys in consumer electronics and aerospace sectors, with applications in products requiring extreme lightweight and structural strength [3] - As 3D printing technology matures, titanium alloys are projected to rapidly penetrate high-end consumer electronics such as foldable devices, AR/VR headsets, and drones [3] Group 3: Company Positioning and Market Opportunities - Domestic companies are actively positioning themselves in the titanium and titanium alloy industry chain, with Tian Gong International (subsidiary Tian Gong Co.) focusing on high-end titanium alloy wire and supplying several leading international consumer electronics companies [4] - The company is expected to benefit from the increased production of foldable devices by major clients [4] Group 4: Investment Recommendations - The demand for titanium alloys in high-end consumer electronics, represented by Apple's foldable device, is expected to continue rising, alongside the growth of 3D printing applications [5] - Relevant investment targets include Tian Gong International (00826), Industrial Fulian (601138.SH), BYD Electronics (00285), and Jie Bang Technology (301326.SZ) [5]

走稳"专精特新"发展之路的天工国际(00826)，已成特钢行业"反内卷"的代表性企业。 在我国当前经济持续通缩的大背景之下，"反内卷"已成为中国推动经济从"价格红海"向"价值蓝海"跨越 的关键战略。通过整治"内卷式"竞争，不仅可以优化资源配置，提升工业产能利用率，为再通胀创造有 利条件，亦可助力构建新发展格局，推动经济实现高质量的良性发展。 自2025年3月《政府工作报告》中首次将"综合整治'内卷式'竞争"纳入年度关键任务以来，各行各业逐 渐掀起了"反内卷"热潮，钢铁行业亦不例外，于今年5月首次开展了整治"内卷式"竞争行动。 仅短短数月，"反内卷"在钢铁行业已有成效，炼钢行业PPI指数自5月份逐渐回暖，至9月份时该指数已 升至99.5%，相较上月同期提高3.9个百分点。 而"反内卷"于钢铁行业"立竿见影"的背后，得益于产业内企业通过转型升级、高端化发展等模式走出了 差异化道路。在10月16日至17日举行的首届中国特钢及新材料专精特新峰会上，中国特钢企业协会执行 会长王文金强调，走"专精特新"发展之路，已是行业应对挑战、把握机遇，实现高质量发展的必由之路 和制胜法宝。 在此次峰会上，中国特钢企业协会发布了《"专 ...

走稳"专精特新"发展之路的天工国际(00826)，已成特钢行业"反内卷"的代表性企业。 例如在工模具钢领域，天工国际是国内唯一规模化生产粉末冶金工模具钢的企业。自2020年以来，天工 国际粉末冶金工模具钢的销量从83吨预计增长至2025年的1500吨，年复合增速79.2%，累计销量预计达 4098吨，平均售价约15万元/吨，平均毛利率高于40%，持续推动工模具钢的高端化转型。 在我国当前经济持续通缩的大背景之下，"反内卷"已成为中国推动经济从"价格红海"向"价值蓝海"跨越 的关键战略。通过整治"内卷式"竞争，不仅可以优化资源配置，提升工业产能利用率，为再通胀创造有 利条件，亦可助力构建新发展格局，推动经济实现高质量的良性发展。 自2025年3月《政府工作报告》中首次将"综合整治'内卷式'竞争"纳入年度关键任务以来，各行各业逐 渐掀起了"反内卷"热潮，钢铁行业亦不例外，于今年5月首次开展了整治"内卷式"竞争行动。 仅短短数月，"反内卷"在钢铁行业已有成效，炼钢行业PPI指数自5月份逐渐回暖，至9月份时该指数已 升至99.5%，相较上月同期提高3.9个百分点。 而"反内卷"于钢铁行业"立竿见影"的背后，得益于产业 ...

Core Insights - The visit by the company's chairman and technical team to Geely's Zeekr Meishan factory marks the initiation of a collaboration focused on "large integrated die-casting" technology, aiming to address manufacturing bottlenecks in the automotive industry and promote independent breakthroughs in key manufacturing technologies in China [1][3]. Group 1: Collaboration Objectives - The partnership aims to integrate advanced materials and technologies in powder metallurgy and additive manufacturing to meet Geely's urgent needs in large integrated die-casting manufacturing [3][4]. - The company will develop customized high-performance die-casting steel materials to enhance thermal stability, thermal conductivity, and lifespan, directly improving Geely's production efficiency and reducing costs associated with mold maintenance [3][4]. Group 2: Technological Innovations - The company plans to apply results from national key research projects to optimize the manufacturing and remanufacturing of molds, particularly for complex cooling channel molds, thereby improving cooling efficiency and reducing production cycles [4][6]. - Advanced repair technologies, such as laser cladding, will be utilized to perform precise repairs on existing molds, saving costs and minimizing downtime for Geely [4][6]. Group 3: Comprehensive Technical Support - The company commits to providing a full-spectrum technical support system for Geely, covering material selection, application guidance, and failure analysis, ensuring a collaborative approach to overcoming technical challenges [4][6]. - A joint technical working group will be established to facilitate ongoing cooperation and address various technical challenges during product development and mass production [4][6]. Group 4: Future Outlook - The collaboration is seen as a significant step towards enhancing supply chain resilience and achieving efficiency and quality in Geely's core manufacturing processes [6]. - Both parties express a commitment to exploring innovative materials and processes, aiming to elevate China's automotive industry in key manufacturing technologies and new material applications [6][7].

Core Viewpoint - The collaboration between Tiangong International and Geely Auto marks a significant step in integrating advanced materials and manufacturing technologies in the automotive industry, specifically in the area of large-scale integrated die-casting [1][4]. Group 1: Collaboration Overview - Tiangong International's chairman and technical team visited Geely Auto's Zeekr Meishan factory, initiating a partnership focused on overcoming manufacturing bottlenecks in the automotive sector [1]. - The partnership aims to leverage Tiangong's expertise in powder metallurgy and additive manufacturing to meet Geely's urgent needs in large-scale integrated die-casting [2][3]. Group 2: Key Areas of Focus - Customized Material Development: Tiangong will develop a new generation of high-performance die-casting mold steel tailored to Geely's requirements, addressing common industry challenges such as thermal fatigue and wear [2]. - Additive Manufacturing Technology: Tiangong will apply its research outcomes to enhance mold manufacturing and repair processes, optimizing cooling efficiency and reducing production downtime [3]. - Comprehensive Technical Support: The companies will establish a joint technical working group to address various technical challenges throughout product development and mass production [3]. Group 3: Future Outlook - The collaboration is seen as a benchmark for the industrial application of national-level research project outcomes, enhancing supply chain resilience and efficiency for Geely Auto [4]. - Both companies expressed commitment to exploring innovative materials and processes, aiming to achieve higher levels of autonomy and global leadership in critical manufacturing technologies [4].