金融界消息 截至2025年8月1日收盘，宝胜股份（600973）报收于5.18元，上涨0.39%，换手率1.59%， 成交量21.81万手，成交金额1.13亿元。 资金流向方面，今日主力资金净流入1285.43万元，占比成交额11.42%。其中，超大单净流入543.17万 元、占成交额4.83%，大单净流入742.26万元、占成交额6.6%，中单净流出流出79.90万元、占成交额 0.71%，小单净流出1205.53万元、占成交额10.71%。 通过天眼查大数据分析，宝胜科技创新股份有限公司共对外投资了24家企业，参与招投标项目5000次， 知识产权方面有商标信息11条，专利信息431条，此外企业还拥有行政许可126个。 来源：金融界 宝胜股份最新一期业绩显示，截至2025一季报，公司营业总收入120.49亿元、同比增长19.98%，归属净 利润2264.76万元，同比增长10.32%，扣非净利润1798.96万元，同比减少3.39%，流动比率1.080、速动 比率0.888、资产负债率81.48%。 天眼查商业履历信息显示，宝胜科技创新股份有限公司，成立于2000年，位于扬州市，是一家以从事专 用设备制造业 ...

Core Viewpoint - The construction of the first commercial controlled nuclear fusion power plant in the U.S. by Helion Energy marks a significant step towards the commercialization of fusion energy, with plans to supply power to Microsoft by 2028 [3][5]. Group 1: Company Developments - Helion Energy has initiated site construction for its controlled nuclear fusion power plant named "Orion" in Chelan County, Washington, which is a crucial milestone for integrating fusion power into the grid [3]. - The company has signed a power purchase agreement with Microsoft to supply 50 MW annually starting in 2028 [5]. - Helion's technology utilizes a magnetic inertial confinement approach, specifically the Field-Reversed Configuration (FRC) method, which is simpler and more cost-effective compared to the Tokamak technology, with construction costs estimated to be only 1/5 to 1/10 of Tokamak systems [5]. Group 2: Industry Context - Other companies in China, such as Hanhai Fusion and Xingneng Xuanguang, are also pursuing similar FRC technology, indicating a growing interest in fusion energy [6]. - A recent industry seminar in Shanghai attracted over 20 companies and nearly 30 financial institutions to discuss the future of controlled nuclear fusion, highlighting its status as a hot topic in the capital market [7]. - Nearly 50 controlled nuclear fusion concept stocks have been actively researched by investors this year, with significant interest in companies like Ice Wheel Environment and Antai Technology, which have received multiple investor inquiries [7]. Group 3: Financial Performance - Several controlled nuclear fusion concept stocks have reported significant earnings growth for the first half of 2025, with Yongding Co. expecting a net profit increase of 731% to 922% year-on-year, primarily due to increased investment income [8]. - Baosheng Co. anticipates a net profit increase of 167.98% to 301.98% for the same period, driven by the market recognition of high-value products [8].

Group 1: Overall Performance of Central Enterprises - 79 central enterprise-controlled listed companies reported positive performance forecasts for the first half of the year, with 32 companies showing year-on-year net profit growth, 22 companies turning losses into profits, and 25 companies reducing losses [1] - 19 central enterprise-controlled listed companies expect a net profit increase of over 100%, with several companies achieving significant turnaround from losses [1] Group 2: Power Sector Performance - Huayin Power, a subsidiary of China Datang Group, is expected to lead the growth with a projected net profit of 180 million to 220 million yuan, representing a year-on-year increase of up to 44 times due to increased power generation and reduced fuel costs [2] - Major investments in the power grid and ultra-high voltage construction by State Grid and Southern Power Grid are expected to drive growth in related companies, with Guodian Nanzi and Baobian Electric forecasting net profit increases of 171.89% to 225.66% and 229.15%, respectively [2] Group 3: Electric Equipment and Cable Industry - Baobian Electric's profit increase is attributed to enhanced market development and increased project orders, while Baoshan Co. anticipates a net profit growth of 167.98% to 301.98% due to optimized sales policies and improved internal management [3] - New Energy Taishan is expected to turn losses into profits in the first half of the year, reflecting a positive trend in the electric cable sector [3] Group 4: Shipbuilding and Rare Earth Industries - The shipbuilding sector is experiencing significant growth, with companies like China Shipbuilding, China Power, and China Heavy Industry expecting net profit increases exceeding 200% due to effective management and increased delivery of civilian ships [5] - The rare earth industry is also thriving, with companies like China Rare Earth and Guangsheng Nonferrous Metals expected to turn losses into profits, driven by rising prices of rare earth products [4] Group 5: Turnaround Companies - 22 central enterprise-controlled listed companies are expected to turn losses into profits, with quality improvement and efficiency enhancement being key factors for their performance recovery [6] - Companies like Zhongnan Co. and Taiji Co. have reported successful turnarounds due to strengthened management and cost control measures [6][7] Group 6: Management and Efficiency Improvements - Many companies achieving year-on-year growth or reduced losses attribute their success to ongoing quality improvement and efficiency enhancement initiatives [7] - Companies are focusing on optimizing resource allocation, controlling costs, and improving operational efficiency as critical drivers of performance growth [7]

Group 1 - The article discusses the recent market performance, indicating that the Shanghai Composite Index has stabilized around 3500 points, driven by policy expectations and potential government stimulus measures [1][2] - Analysts from Citigroup predict that the upcoming Politburo meeting will not revise the budget or increase government bond quotas, but will focus on implementing existing policies to support consumption and the real estate sector [1][2] - The article highlights that the real estate market has shown signs of recovery, with a potential for further gains in the coming weeks, based on historical trends of policy-driven market movements [3][5] Group 2 - The banking sector is expected to see an increase in dividend yields due to upcoming dividend distributions, which could enhance the attractiveness of bank stocks [7] - The article notes that the insurance sector is adjusting its investment strategies to favor high-dividend assets, which may impact the overall market dynamics [7] - The article mentions that the real estate index has risen by 9.69% since June 23, indicating a positive trend relative to the Shanghai Composite Index [3][5] Group 3 - The article outlines the upcoming key events in the financial calendar, including the Politburo meeting and FOMC meetings, which are expected to influence market sentiment and policy direction [2] - It emphasizes the importance of monitoring economic indicators and policy announcements as they could significantly impact market performance in the second half of the year [2][10] - The article suggests that sectors such as renewable energy, construction materials, and industrial metals are likely to benefit from current market trends and policy support [15][18]

[Current Period Performance Forecast](index=1&type=section&id=I.%E3%80%81Current%20Period%20Performance%20Forecast) The company forecasts significant growth in H1 2025 net profit attributable to shareholders and non-recurring net profit Key Financial Performance Forecast for H1 2025 | Indicator | H1 2025 Forecast | Prior Period | Year-on-Year Growth | | :--- | :--- | :--- | :--- | | **Net Profit Attributable to Parent (CNY million)** | 50 - 75 | 18.6578 | 167.98% - 301.98% | | **Non-recurring Net Profit Attributable to Parent (CNY million)** | 40 - 60 | 4.6358 | 762.85% - 1194.27% | - This performance forecast applies to scenarios where profitability is achieved and net profit attributable to the parent company increases by over **50% year-on-year**[2](index=2&type=chunk) - The performance forecast data for this period has not been audited by a certified public accountant[3](index=3&type=chunk) [Prior Period Performance Overview](index=2&type=section&id=II.%E3%80%81Prior%20Period%20Performance%20Overview) This section details the company's H1 2024 financial performance, serving as the comparative baseline for current period growth H1 2024 Key Financial Figures | Indicator | H1 2024 Amount | | :--- | :--- | | **Net Profit Attributable to Shareholders (CNY million)** | 18.6578 | | **Non-recurring Net Profit Attributable to Parent (CNY million)** | 4.6358 | | **Earnings Per Share (CNY)** | 0.014 | [Key Reasons for Performance Increase](index=2&type=section&id=III.%E3%80%81Key%20Reasons%20for%20Current%20Period%20Performance%20Increase) Performance growth is attributed to optimized sales, increased orders, enhanced internal management, cost control, and strategic product upgrading - Market End: The company continuously optimized sales policies, seized market opportunities, deeply explored key regions, and developed key projects, leading to an increase in order volume compared to the same period last year[5](index=5&type=chunk) - Management End: The company strengthened internal management, improving quality and efficiency by optimizing production, processes, and supply chain links, and significantly reducing controllable costs and financial expenses[5](index=5&type=chunk) - Strategic Transformation and Product Upgrading: The company promoted high-end and digital intelligence transformation, strategically positioning itself in emerging industries, with high-value-added products gaining widespread market recognition, improving order quality and profitability[5](index=5&type=chunk) [Risk Warning and Other Notes](index=2&type=section&id=IV.%E3%80%81Risk%20Warning) The company confirms no significant uncertainties affect the forecast's accuracy, reminding investors that final data will be in the 2025 semi-annual report - The company confirms there are no significant uncertainties that could affect the accuracy of the current period's performance forecast[6](index=6&type=chunk) - The company reminds investors that this forecast data is preliminary, and the specific accurate financial data will be subject to the company's officially disclosed 2025 semi-annual report[7](index=7&type=chunk)

Core Viewpoint - Baoshen Co., Ltd. (600973) expects to achieve a net profit attributable to shareholders of the listed company of 50 million to 75 million yuan for the first half of 2025, representing a year-on-year growth of 167.98% to 301.98% [1] - The company anticipates a net profit attributable to shareholders after deducting non-recurring gains and losses of 40 million to 60 million yuan for the first half of 2025, indicating a year-on-year growth of 762.85% to 1194.27% [1] Financial Performance - Expected net profit for H1 2025: 50 million to 75 million yuan [1] - Year-on-year growth in net profit: 167.98% to 301.98% [1] - Expected net profit after deducting non-recurring items: 40 million to 60 million yuan [1] - Year-on-year growth in net profit after deductions: 762.85% to 1194.27% [1]

Core Viewpoint - The company, Baosheng Technology Innovation Co., Ltd., is in the execution phase of a legal case against Hainan Hengqian Material Equipment Co., Ltd. and related parties, seeking payment of approximately 156.84 million yuan for overdue payments and interest [1][2][3]. Group 1: Case Background - The company has previously disclosed litigation details involving Hengtai and its affiliates, with the court ruling in favor of the company for the payment of overdue amounts [2][3]. - The total amount claimed includes 156,836,079.78 yuan in principal and additional interest, with Hengtai Group and Hengtai Children's World Group providing joint guarantees for the debt [1][2]. Group 2: Execution Process - The execution process was initiated due to the defendants' failure to comply with the court's ruling, leading to the application for forced execution by the company [3][4]. - The court has taken various measures to locate the defendants' assets but has not found any that can be executed, resulting in the termination of the execution process [4][5]. Group 3: Impact on the Company - Following the termination of the execution process, the defendants are still obligated to fulfill their debt obligations, and the company may seek to resume execution if any executable assets are discovered [5][7]. - The company has made provisions for credit impairment related to this case and does not expect significant impacts on its current or future profits from this termination [7]. Group 4: Additional Information - As of the announcement date, the company has no other undisclosed significant litigation or arbitration matters [6]. - The company will continue to monitor the situation closely and fulfill its information disclosure obligations [7].

证券代码：600973 证券简称：宝胜股份 公告编号：2025-026 宝胜科技创新股份有限公司 ●案件所处的诉讼阶段：执行阶段（终结执行程序） ●上市公司所处的当事人地位：申请执行人 ●涉案的金额：根据广东省高级人民法院（2023）粤民终4547号《民事判决 书》，被告海南恒乾材料设备有限公司应向公司支付货款156,836,079.78元及利 息，被告恒大童世界集团有限公司和恒大集团有限公司对上述债务承担相应连带 担保责任。 ●对上市公司损益产生的影响：终结本次执行程序后，被执行人负有继续向 申请执行人履行债务的义务；公司发现有可供执行财产的，将向法院申请恢复执 行。公司将依法主张自身合法权益，积极采取相关法律措施维护公司及股东合法 权益。 公司已对案件涉及的或有事项计提了相应的信用减值准备，后续可能会根据 案件进展情况调整计提金额，预计本次终结执行程序不会对公司本期利润或期后 利润产生较大影响，敬请广大投资者注意投资风险。 关于收到执行裁定书的公告 重要内容提示： 被申请执行人：海南恒乾材料设备有限公司、恒大童世界集团有限公司、恒 大集团有限公司 关于申请执行人与被执行人买卖合同纠纷执行一案,广州中院院作 ...

Summary of Key Points from Conference Call Records Industry or Company Involved - **AI Glasses**: Multiple significant products are set to be released, including those from Meta and Xiaomi [2][15] - **Liquid Cooling**: National standards for liquid cooling are about to be published, indicating growth in this sector [3] - **Superconductors**: Shanghai Superconductor's IPO application has been accepted, aiming to raise 1.2 billion yuan for high-temperature superconducting materials [4][17] - **POE Particles**: Domestic production of POE particles is being initiated to replace imports [5][16] - **High-end PCB**: Companies like Zhongjing Electronics and Yihua New Materials are involved in high-end PCB production for various applications [6][10] - **Air Conditioning Components**: Shunwei Co. is a leading supplier of air conditioning fan blades, indirectly supplying Xiaomi [7][16] - **Laser Defense Systems**: New developments in lightweight laser defense systems are being tested [12][17] Core Points and Arguments - **AI Glasses Market**: - Meta plans to release new AI glasses with expected sales of 4-5 million units in 2025 [15] - Xiaomi's AI glasses are in small-scale production with projected sales of 300,000-500,000 units [15] - Companies like Biyi Co. and Lianchuang Optoelectronics are heavily involved in AR/VR technologies [15] - **Liquid Cooling Industry**: - The market for liquid cooling servers in China is projected to reach $16.2 billion by 2029, with a CAGR of 46.8% from 2024 to 2029 [3] - Current penetration in data centers is below 10%, indicating significant growth potential [3] - **Superconductors**: - Shanghai Superconductor holds over 80% market share in domestic high-temperature superconducting materials [17] - The company reported a revenue increase of 189% year-on-year, reaching 240 million yuan in 2024 [17] - **POE Particles**: - The domestic market for POE is expected to reach 50-60 billion yuan in 2025, with significant import substitution potential [16] - The company anticipates net profits of 0.5 billion yuan in 2025, increasing to 5.2 billion yuan by 2027 [16] - **High-end PCB**: - Companies are focusing on high-end applications in AI, VR, and gaming, with significant demand for flexible circuit boards [16] - The domestic high-end PCB market is experiencing rapid growth due to increased demand from tech companies [16] - **Air Conditioning Components**: - Shunwei Co. has a global market share of over 35% in plastic air conditioning fan blades [7] - The company is also involved in the low-altitude economy through partnerships in agricultural drone technology [16] Other Important but Possibly Overlooked Content - **Market Dynamics**: The AI glasses market is highly competitive, with major players like Meta and Xiaomi launching new products [15] - **Regulatory Environment**: The upcoming national standards for liquid cooling may streamline the industry and enhance growth prospects [3] - **Investment Opportunities**: Companies involved in superconductors and liquid cooling are positioned for significant growth due to technological advancements and market demand [4][3] - **Financial Performance**: Many companies are reporting substantial year-on-year growth, indicating a robust recovery and expansion in their respective sectors [17][16] This summary encapsulates the critical insights from the conference call records, highlighting the evolving landscape of various industries and the companies poised to benefit from these trends.

证券代码：600973 证券简称：宝胜股份 公告编号：2025-025 宝胜科技创新股份有限公司 作为公司 2018 年度向特定对象发行 A 股股票项目的保荐机构，国泰海通原 指定袁业辰先生和杨可意女士为公司持续督导保荐代表人，因募集资金尚未使用 完毕，国泰海通需要继续履行持续督导义务。现因杨可意女士工作变动，不再担 任公司非公开发行股票持续督导期间的保荐代表人，为保证持续督导工作有序进 行，国泰海通委派王靓先生（王靓先生的简历详见附件）接替杨可意女士担任持 续督导期间的保荐代表人。 本次保荐代表人变更后，公司向特定对象发行股票的持续督导保荐代表人为 袁业辰先生和王靓先生，持续督导期限至中国证券监督管理委员会和上海证券交 易所规定的持续督导义务结束为止。 公司董事会对保荐代表人杨可意女士在公司持续督导期间所做出的杰出贡 献表示衷心感谢！ 特此公告。 宝胜科技创新股份有限公司董事会 2025 年 5 月 15 日 附件：王靓先生简历 王靓先生，保荐代表人，硕士研究生。从事投资银行业务多年，曾参与或负 责多个投资银行项目，包括：内蒙华电 41.56 亿元定向增发、国电电力 40 亿元 定向增发、湘电股份 25 亿 ...