宁波海天精工股份有限公司 2025 年第三季度报告 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务信息 的真实、准确、完整。 第三季度财务报表是否经审计 □是 √否 一、主要财务数据 （一） 主要会计数据和财务指标 证券代码：601882 证券简称：海天精工 宁波海天精工股份有限公司 2025 年第三季度报告 本公司董事会及全体董事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： 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整，不存 在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 单位：元 币种：人民币 | | | 本报告期比 | | 年初至报告期 | | --- | --- | --- | --- | --- | | 项目 | 本报告期 | 上年同期增 | 年初至报告期末 | 末比上年同期 | | | | 减变动幅度 | | 增减变动幅度 | | | | (%) | | (%) | | 营业收入 | 857,885,520.68 | 5.38 | 2, ...

Core Points - The Shanghai Composite Index closed at 4009.81 points, slightly down by 0.16%, with a total trading volume of 202.97 billion yuan [1] - A total of 29 A-shares have surpassed their annual moving average, with notable stocks showing significant deviation rates [1] Summary by Category Stock Performance - The stocks with the highest deviation rates from their annual moving average include: - Huaihe Energy (5.10%) - Longban Media (3.78%) - China Oilfield Services (3.49%) [1] - Other stocks that have just crossed the annual moving average with smaller deviation rates include: - Fulete - China Railway - China National Heavy Duty Truck [1] Trading Data - The trading data for stocks that broke through the annual moving average on October 30 includes: - Huaihe Energy: +5.95% with a turnover rate of 5.94% - Longban Media: +3.99% with a turnover rate of 3.15% - China Oilfield Services: +4.58% with a turnover rate of 1.43% [1] - Additional stocks with notable performance include: - Guangha Tongxin: +7.41% - Runze Technology: +7.35% - BlueFocus Communication: +9.49% [1]

Group 1 - The core viewpoint of the news is that the industrial mother machine concept stocks in the A-share market experienced a collective rise, indicating strong market interest and potential growth in this sector [1] Group 2 - Major stocks that saw significant increases include: - Juneng Co., Ltd. (巨能股份) with a rise of 13.87%, total market value of 2.53 billion, and a year-to-date increase of 25.64% [2] - Sijin Intelligent (思进智能) increased by 10.01%, total market value of 4.24 billion, and a year-to-date increase of 28.98% [2] - Huadong CNC (华东数控) also rose by 10.01%, total market value of 3.89 billion, with a year-to-date increase of 62.26% [2] - Yuhuan CNC (宇环数控) saw a rise of 9.99%, total market value of 3.69 billion, and a year-to-date increase of 46.31% [2] - World (沃尔德) increased by 9.18%, total market value of 7.41 billion, with a remarkable year-to-date increase of 124.76% [2] - Other notable stocks include: - Jike Co., Ltd. (机科股份) with a rise of 5.88%, total market value of 3.59 billion, and a year-to-date increase of 49.40% [2] - Haizhi Electromechanical (昊志机电) increased by 5.39%, total market value of 9.70 billion, and a year-to-date increase of 66.70% [2] - Zhongtung High-tech (中钨高新) rose by 4.32%, total market value of 58.9 billion, with a year-to-date increase of 184.23% [2] - The MACD golden cross signal formation indicates a positive trend for these stocks [1]

Group 1 - The core viewpoint of the article highlights the growth in China's metal cutting machine tool production, with a projected output of 67,000 units in May 2025, representing a year-on-year increase of 6.3% [1] - Cumulative production from January to May 2025 is reported at 332,000 units, showing a cumulative growth of 13.3% [1] - The article references a market research report by Zhiyan Consulting, which provides insights into the machine tool equipment industry in China from 2025 to 2031 [1] Group 2 - Listed companies in the machine tool sector include Chuangjishi (300083), Shenyang Machine Tool (000410), and others, indicating a diverse market landscape [1] - Zhiyan Consulting is recognized as a leading industry consulting firm in China, specializing in in-depth industry research and providing comprehensive consulting services [1]

Company Overview - Haitian Precision Machinery Co., Ltd. is located in Ningbo, Zhejiang Province, established on April 10, 2002, and listed on November 7, 2016. The company specializes in the research, production, and sales of high-end CNC machine tools [1][2]. Financial Performance - As of June 30, 2025, the company reported a revenue of 1.663 billion yuan, a year-on-year decrease of 0.92%. The net profit attributable to shareholders was 237 million yuan, down 19.27% year-on-year [2]. - The company has distributed a total of 1.027 billion yuan in dividends since its A-share listing, with 611 million yuan distributed over the past three years [3]. Stock Performance - On September 23, the stock price of Haitian Precision fell by 2.09%, trading at 20.58 yuan per share, with a total market capitalization of 10.743 billion yuan. The stock has decreased by 4.59% year-to-date and by 4.99% over the last five trading days [1]. - The company experienced a net outflow of 5.0051 million yuan in principal funds, with significant selling pressure observed [1]. Shareholder Information - As of June 30, 2025, the number of shareholders increased to 24,700, up by 1.67% from the previous period. The average circulating shares per person decreased by 1.64% to 21,124 shares [2][3]. - Notably, Hong Kong Central Clearing Limited has exited the list of the top ten circulating shareholders [3]. Business Segmentation - The main business revenue composition includes 98.29% from machine tool sales, 1.43% from parts and others, and 0.28% from other sources [1]. - The company is categorized under the machinery equipment sector, specifically in general equipment and machine tools [1].

Core Viewpoint - Ningbo Haitian Precision Industry Co., Ltd. is set to hold a half-year performance briefing on October 9, 2025, to discuss its operational results and financial status for the first half of 2025, allowing investors to engage and ask questions [2][3]. Group 1: Event Details - The performance briefing will take place on October 9, 2025, from 16:00 to 17:00 [5][6]. - The event will be conducted in an interactive online format via the Shanghai Stock Exchange Roadshow Center [4][5]. - Investors can participate by logging into the Roadshow Center website [4][5]. Group 2: Investor Engagement - Investors can submit questions from September 24, 2025, to September 30, 2025, before 16:00, through the Roadshow Center or via the company's email [2][7]. - The company will address commonly asked questions during the briefing [2][3]. - Contact information for inquiries includes representatives from the company, with a provided email and phone number [7].

证券代码：601882 证券简称：海天精工 公告编号：2025-014 宁波海天精工股份有限公司 关于召开 2025 年半年度业绩说明会的公告 本公司董事会及全体董事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个别及连带责任。 重要内容提示： 宁波海天精工股份有限公司（以下简称"公司"）已于 2025 年 8 月 30 日发 布公司 2025 年半年度报告，为便于广大投资者更全面深入地了解公司 2025 年半 年度经营成果、财务状况，公司计划于 2025 年 10 月 9 日（星期四）16:00-17:00 举行 2025 年半年度业绩说明会，就投资者关心的问题进行交流。 （一）会议召开时间：2025 年 10 月 9 日（星期四）16:00-17:00 会议召开时间：2025 年 10 月 9 日（星期四）16:00-17:00 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2025 年 9 月 ...

Company Overview - Haitian Precision Machinery Co., Ltd. is located in Ningbo, Zhejiang Province, established on April 10, 2002, and listed on November 7, 2016. The company specializes in the research, production, and sales of high-end CNC machine tools [1][2]. Financial Performance - As of June 30, 2025, the company reported a revenue of 1.663 billion yuan, a year-on-year decrease of 0.92%. The net profit attributable to shareholders was 237 million yuan, down 19.27% year-on-year [2]. - The company has distributed a total of 1.027 billion yuan in dividends since its A-share listing, with 611 million yuan distributed over the past three years [3]. Stock Performance - On September 17, the stock price increased by 2.12%, reaching 22.12 yuan per share, with a trading volume of 122 million yuan and a turnover rate of 1.07%. The total market capitalization is 11.547 billion yuan [1]. - Year-to-date, the stock price has risen by 2.55%, with a 4.05% increase over the last five trading days, an 8.43% increase over the last 20 days, and a 17.53% increase over the last 60 days [1]. Shareholder Information - As of June 30, 2025, the number of shareholders increased to 24,700, a rise of 1.67%. The average circulating shares per person decreased by 1.64% to 21,124 shares [2]. - Notably, Hong Kong Central Clearing Limited has exited the list of the top ten circulating shareholders [3]. Capital Flow - The net inflow of main funds was 3.6691 million yuan, with large orders accounting for 18.76% of purchases and 19.04% of sales [1].

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company reported a historical high in revenue for Q2 2025, with ongoing capacity expansion and market development [4][6] - The company's H1 2025 revenue was 1.663 billion yuan, a year-on-year decrease of 0.92%, and the net profit attributable to the parent company was 237 million yuan, down 19.27% year-on-year, indicating slight pressure on performance during the industry's bottoming phase [4][5][6] Summary by Sections Financial Performance - In H1 2025, the company achieved revenue of 1.663 billion yuan, a decrease of 0.92% year-on-year, and a net profit of 237 million yuan, down 19.27% year-on-year [4][5] - For Q2 2025, the company recorded revenue of 923 million yuan, a slight increase of 0.1% year-on-year, marking a historical high for quarterly revenue [6] - The gross margin for H1 2025 was 26.14%, a decrease of 2.22 percentage points year-on-year, while the net margin was 14.27% [6] Industry Context - The machine tool industry in China saw a revenue decline of 1.7% year-on-year in H1 2025, an improvement compared to a 5.2% decline in 2024 [5] - The metal cutting machine tool sector experienced a revenue increase of 13.8% year-on-year, with a total profit of 5.6 billion yuan, up 33% [5] Product Development and Market Expansion - The company increased its investment in product research and development in H1 2025, focusing on enhancing product performance and understanding key industries [7] - The company is expanding its production capacity in Southern China and advancing the construction of a high-end CNC machine tool intelligent production base in Ningbo [7] Earnings Forecast and Valuation - The revenue forecasts for 2025-2027 are adjusted to 3.492 billion yuan, 3.743 billion yuan, and 4.038 billion yuan, respectively [8] - The net profit forecasts for the same period are 536 million yuan, 594 million yuan, and 667 million yuan, respectively [8] - The current stock price corresponds to a PE ratio of 20.8, 18.7, and 16.7 for 2025-2027 [8]

Investment Rating - The investment rating for the company is "Buy" and is maintained [7]. Core Views - The company achieved a revenue of 1.663 billion yuan in H1 2025, a year-on-year decrease of 0.92%. The net profit attributable to shareholders was 237 million yuan, down 19.27% year-on-year. The net profit excluding non-recurring items was 212 million yuan, a decrease of 17.57% year-on-year. In Q2 2025, the revenue was 923 million yuan, a slight increase of 0.10% year-on-year, while the net profit attributable to shareholders was 138 million yuan, down 15.34% year-on-year [5][10]. - Despite short-term performance pressures, the company is expected to benefit from structural opportunities such as policy advantages, self-sufficiency, and overseas expansion in the medium to long term. The company is steadily advancing its research, production, and sales system layout, anticipating a recovery in performance [10][11]. Summary by Sections Financial Performance - In H1 2025, the company reported a revenue of 1.663 billion yuan, a decrease of 0.92% year-on-year. The net profit attributable to shareholders was 237 million yuan, down 19.27% year-on-year, and the net profit excluding non-recurring items was 212 million yuan, a decrease of 17.57% year-on-year. For Q2 2025, the revenue was 923 million yuan, a slight increase of 0.10% year-on-year, while the net profit attributable to shareholders was 138 million yuan, down 15.34% year-on-year [5][10]. Industry Outlook - The machine tool industry is undergoing a critical transformation and upgrade phase, with market demand expected to continue recovering. In H1 2025, the machine tool industry in China achieved a revenue of 493.3 billion yuan, a year-on-year decline of 1.7%. The metal cutting machine tool sector saw a revenue increase of 13.8% year-on-year, with a total profit of 5.6 billion yuan, up 33.0% year-on-year [10]. Strategic Initiatives - The company is focused on consolidating its leading product advantages and expanding its product line. In 2024, it successfully developed several new machine tool series and key components, significantly enhancing product performance and automation capabilities. The company is also increasing its R&D investment to improve product performance and understanding of key industries, aiming for import substitution and accelerated development of core components [10][11].