2020-2025年1-7月中国动车组产量统计图 数据来源：国家统计局，智研咨询整理 上市企业：中国中车（601766）,中国通号（688009）,思维列控（603508）,京沪高铁（601816）,晋西车 轴（600495）,神州高铁（000008）,康尼机电（603111）,辉煌科技（002296）,天宜上佳（688033）,威 奥股份（605001） 相关报告：智研咨询发布的《2025-2031年中国动车组列车行业市场全景调研及发展前景研判报告》 根据国家统计局数据显示：2025年7月中国动车组产量为16辆，同比下降5.9%；2025年1-7月中国动车组 累计产量为1074辆，累计增长40.4%。 知前沿，问智研。智研咨询是中国一流产业咨询机构，十数年持续深耕产业研究领域，提供深度产业研 究报告、商业计划书、可行性研究报告及定制服务等一站式产业咨询服务。专业的角度、品质化的服 务、敏锐的市场洞察力，专注于提供完善的产业解决方案，为您的投资决策赋能。 ...

Core Viewpoint - The controlling shareholder of Jinxi Axle Co., Ltd. (晋西车轴股份有限公司) has initiated a share buyback plan, reflecting confidence in the company's future development and long-term investment value [1][3]. Group 1: Buyback Plan Details - The buyback plan was first disclosed on April 9, 2025, with a proposed implementation period from April 9, 2025, to April 8, 2026 [3][4]. - The controlling shareholder, Jinxi Industrial Group Co., Ltd. (晋西工业集团有限责任公司), plans to increase its stake by investing between 50 million yuan and 100 million yuan, with a maximum increase of 2% of the total share capital [1][3]. - As of August 28, 2025, the first buyback was executed, acquiring 1,050,000 shares for a total amount of 5,742,515 yuan, representing 0.0869% of the total share capital [2][4]. Group 2: Shareholding Structure - Prior to the buyback, Jinxi Industrial Group held 372,014,755 shares, accounting for 31.0212% of the total share capital [3][4]. - After the initial buyback, Jinxi Industrial Group's shareholding increased to 373,064,755 shares, representing 30.8780% of the total share capital, while the combined holdings with its concerted actions reached 375,845,908 shares, or 31.1082% [4][5]. Group 3: Future Plans - Jinxi Industrial Group intends to continue the buyback plan using its own funds and potential special loans for subsequent share acquisitions [4].

Group 1 - The core viewpoint of the article highlights that Jinxi Axle Co., Ltd. has shown significant growth in revenue and a reduction in net loss in its recent half-year report, indicating a positive trend in its financial performance [2] - In the first half of 2025, the company achieved an operating income of 608 million yuan, representing a year-on-year increase of 41.73%, while the net profit after deducting non-recurring items was a loss of 808,000 yuan, which is a reduction in loss by 50.04 million yuan compared to the same period last year [2] - Jinxi Axle is the largest railway axle manufacturer in China, holding the highest market share, and has consistently secured the largest share in the procurement of freight car axles by China National Railway Group [2] Group 2 - The company is actively accelerating its diversification strategy, focusing on enhancing its core business in railway transportation equipment manufacturing while exploring new business areas such as defense equipment and smart firefighting [3] - The company plans to strengthen market research and analysis to adapt to the competitive landscape, aiming for breakthroughs in high value-added products and international markets while maintaining its market share in core products [3] - Jinxi Industrial Group, the controlling shareholder of Jinxi Axle, plans to increase its stake in the company by investing between 50 million and 100 million yuan over the next 12 months, reflecting confidence in the company's future development [3] Group 3 - Established in December 2000 and listed on the Shanghai Stock Exchange in 2004, Jinxi Axle's products cover various types of railway freight cars, passenger cars, subways, light rail, locomotives, and high-speed trains [4] - Axles are critical components for railway and urban rail transit vehicles, essential for the assembly and production of various types of vehicles [4]

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证券代码：600495 证券简称：晋西车轴 公告编号：临 2025-049 晋西车轴股份有限公司 关于控股股东增持公司股份的进展公告 本公司董事会、全体董事及相关股东保证本公告内容不存在任何虚假记载、 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法律责任。 重要内容提示： 已披露增持计划情况：晋西车轴股份有限公司（以下简称"公司"）于 2025 年 4 月 9 日发布《关于控股股东增持计划的公告》（公告编号：临 2025-022）， 公司控股股东晋西工业集团有限责任公司（以下简称"晋西集团"）基于对公司 未来发展前景的信心和长期投资价值的认可，计划自 2025 年 4 月 9 日起 12 个月 内通过上海证券交易所交易系统以集中竞价或大宗交易方式增持公司 A 股股份， 拟增持金额不低于 5,000 万元、不高于 10,000 万元，且增持数量不超过公司总股 本的 2%。晋西集团将基于对公司股票价值的合理判断，并结合公司股票价格波 动情况及二级市场整体趋势，择机实施增持计划。 风险提示：本次增持计划可能存在因资本市场情况发生变化或目前尚无 法预判的其他风险因素，导致增持计划的实施无法达到预期的 ...

Core Insights - The report highlights the robust performance of various sectors, particularly in electric equipment, coal, and healthcare, indicating potential investment opportunities in these areas [6][9][11]. Industry Commentary Electric Equipment and New Energy - UBTECH leads the establishment of two national technical standards for humanoid robots, indicating a strong push towards innovation in robotics [6]. - The China Photovoltaic Industry Association (CPIA) emphasizes the need for self-regulation to maintain fair competition in the photovoltaic market, urging companies to adhere to legal standards and avoid price wars [6]. - The price of polysilicon remains stable, with a current average of 44.0 CNY/kg, supported by production cuts from leading companies [6][10]. Coal Industry - The trend of shrinking coal imports has slowed, with July 2025 showing a year-on-year decrease of 22.94% but a month-on-month increase of 7.78% [9][12]. - The average import price for coal is reported at 67 USD/ton, reflecting a downward trend compared to the previous year [12]. Healthcare Sector - The report on Kaineng Health indicates stable performance with significant potential in the health sector, driven by high-margin terminal services [11][13]. Machinery and Equipment - Jinxi Axle reported a significant turnaround with a net profit of 13.90 million CNY in H1 2025, driven by high growth in railway vehicle contributions [23][25]. - Hangcha Group's revenue reached 9.30 billion CNY in H1 2025, with a notable increase in both domestic and export sales of forklifts [26]. Aerospace and Defense - AVIC Shenfei's contract liabilities increased significantly, indicating strong future demand for military aircraft, particularly the J-16 and J-35 models [28][31]. Chemical Industry - LUXI Chemical reported stable revenue growth, with a focus on transitioning from single-agent to compound agents, reflecting a strategic shift in product offerings [40]. Investment Recommendations - The report suggests focusing on companies with strong growth potential in the electric equipment sector, such as Aiko and Longi Green Energy, and those involved in coal production like Huayang Co. and Jinkong Coal [8][12][26]. - In the healthcare sector, companies like Kaineng Health are recommended due to their promising growth in high-margin services [11][13].

Investment Rating - The report maintains an "Accumulate-A" rating for the company [1] Core Views - The company achieved a turnaround in net profit for the first half of 2025, reporting a profit of 13.90 million yuan, compared to a loss of 19.84 million yuan in the same period last year [4] - Revenue for the first half of 2025 reached 608 million yuan, marking a year-on-year increase of 41.73% [4] - The company has a strong order backlog and continues to win key projects, indicating robust growth potential [5][6] Financial Performance - In Q2 2025, the company reported revenue of 235 million yuan, a year-on-year increase of 27.26%, with net profit rising by 60.91% to 6.08 million yuan [4] - The gross margin improved by 7.25 percentage points to 11.88%, and the net margin increased by 6.91 percentage points to 2.29% [7] - The company’s earnings per share (EPS) for 2025 is projected at 0.02 yuan, with expected net profits of 29 million yuan, reflecting a growth of 27.3% [9] Market Position and Strategy - The company is focusing on expanding its market share in high-speed train axle products and exploring international markets, particularly along the "Belt and Road" initiative [9] - The company has successfully secured a 30.64% share in the recent procurement project for railway freight car axles, indicating strong competitive positioning [5] - The company is also diversifying into defense equipment and smart firefighting sectors, which are expected to contribute to future growth [6]

金融界消息 截至2025年8月25日收盘，晋西车轴（600495）报收于5.79元，下跌1.36%，换手率4.46%， 成交量53.88万手，成交金额3.11亿元。 来源：金融界 资金流向方面，今日主力资金净流出6066.07万元，占比成交额19.48%。其中，超大单净流出4545.44万 元、占成交额14.59%，大单净流出1520.63万元、占成交额4.88%，中单净流出流入2240.17万元、占成 交额7.19%，小单净流入3825.89万元、占成交额12.28%。 晋西车轴最新一期业绩显示，截至2025中报，公司营业总收入6.08亿元、同比增长41.73%，归属净利润 1390.09万元，同比增长170.08%，扣非净利润80.80万元，同比增长98.41%，流动比率3.586、速动比率 2.810、资产负债率18.94%。 天眼查商业履历信息显示，晋西车轴股份有限公司，成立于2000年，位于长治市，是一家以从事汽车制 造业为主的企业。企业注册资本120819.0886万人民币，实缴资本37201.48万人民币。公司法定代表人为 吴振国。 通过天眼查大数据分析，晋西车轴股份有限公司共对外投资了7家企业 ...

Core Viewpoint - The company is holding an investor briefing on August 29, 2025, to discuss its 2025 semi-annual report and address investor concerns [2][3][4]. Group 1: Meeting Details - The investor briefing will take place on August 29, 2025, from 9:30 to 11:30 AM [4]. - The location for the meeting is the Shanghai Stock Exchange Roadshow Center, and it will be conducted via video recording and online interaction [4][5]. - Investors can participate online through the Shanghai Stock Exchange Roadshow Center website [5]. Group 2: Participation and Interaction - Investors can submit questions from August 22 to August 28, 2025, by visiting the "Pre-Question Collection" section on the Roadshow Center website or via the company's investor relations email [5]. - The company will respond to commonly asked questions during the briefing [3][5]. Group 3: Attendees - Key attendees include the company's Chairman, General Manager, Independent Directors, and other senior management [4]. Group 4: Additional Information - After the briefing, investors can view the meeting's details and main content on the Shanghai Stock Exchange Roadshow Center [7].

证券日报网讯8月21日晚间，晋西车轴（600495）发布公告称，公司计划于2025年8月29日(星期五)9： 30-11：30举行2025年半年度业绩说明会。 ...