10月10日，亚星锚链盘中下跌2.08%，截至14:18，报9.89元/股，成交2.21亿元，换手率2.30%，总市值 94.88亿元。 资料显示，江苏亚星锚链股份有限公司位于江苏省靖江市东兴镇何德村江苏亚星锚链股份有限公司办公 楼，成立日期2000年3月16日，上市日期2010年12月28日，公司主营业务涉及船用锚链、海洋系泊链和 矿用链的生产。主营业务收入构成为：船用链及附件62.37%，系泊链35.76%，其他1.86%。 亚星锚链所属申万行业为：国防军工-航海装备Ⅱ-航海装备Ⅲ。所属概念板块包括：航母产业、军民融 合、航天军工、小盘、海洋经济等。 资金流向方面，主力资金净流出5000.06万元，特大单买入469.45万元，占比2.13%，卖出2006.21万元， 占比9.09%；大单买入3399.21万元，占比15.41%，卖出6862.52万元，占比31.11%。 亚星锚链今年以来股价涨29.28%，近5个交易日涨2.91%，近20日涨4.99%，近60日跌0.60%。 今年以来亚星锚链已经3次登上龙虎榜，最近一次登上龙虎榜为3月27日，当日龙虎榜净买入5895.48万 元；买入总计2.18亿元 ， ...

证券之星消息，10月9日航海装备板块较上一交易日上涨1.13%，海兰信领涨。当日上证指数报收于 3933.97，上涨1.32%。深证成指报收于13725.56，上涨1.47%。航海装备板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 300065 | 海兰信 | 19.93 | 6.01% | 65.96万 | 12.96亿 | | 300589 | 江龙船艇 | 12.70 | 2.09% | 9.54万 | · 1.21亿 | | 300008 | 天海防务 | 6.37 | 1.43% | 55.95万 | 3.55亿 | | 600150 | 中国船舶 | 35.04 | 1.27% | 103.12万 | 35.85 Z | | 300600 | 園瑞科技 | 15.70 | 0.51% | 9.86万 | 1.53亿 | | 300810 | 武夷君 | 46.50 | -0.17% | 4.22万 | 1.95亿 | | 600764 | 中国海防 | 31.1 ...

9月30日，亚星锚链涨2.32%，成交额4.12亿元。两融数据显示，当日亚星锚链获融资买入额2745.66万 元，融资偿还4308.08万元，融资净买入-1562.43万元。截至9月30日，亚星锚链融资融券余额合计3.74 亿元。 机构持仓方面，截止2025年6月30日，亚星锚链十大流通股东中，香港中央结算有限公司位居第三大流 通股东，持股1341.53万股，相比上期增加292.72万股。博时成长领航混合A（010902）位居第四大流通 股东，持股807.18万股，相比上期减少142.44万股。南方中证1000ETF（512100）位居第五大流通股 东，持股620.54万股，相比上期增加117.50万股。博时成长优势混合A（012463）位居第九大流通股 东，持股437.45万股，为新进股东。广发高端制造股票A（004997）、广发兴诚混合A（011121）、国 泰中证军工ETF（512660）退出十大流通股东之列。 融资方面，亚星锚链当日融资买入2745.66万元。当前融资余额3.72亿元，占流通市值的3.82%，融资余 额超过近一年80%分位水平，处于高位。 责任编辑：小浪快报 融券方面，亚星锚链9月30 ...

（图片来源：摄图网） 随着海洋开发的不断深入，水下机器人的重要性愈发凸显。由于水下环境复杂且危险，人类潜水深度受到极 大限制，水下机器人已成为海洋开发的关键装备。它们不仅能够承担危险任务，还能在深海环境中高效作 业，为海洋资源开发、科研探索等领域提供有力支撑。 国家高度重视水下机器人行业的发展，通过"十四五"规划等政策文件，明确将其列为发展重点。政府设立了 专项基金，集中攻关关键技术，推动技术创新与突破。此外，国家还出台了产业规划，在税收等方面提供优 惠政策，发布技术标准，推动产业的健康发展与规范运作。 而随着深海科技被纳入国家工作报告，多个沿 海省市迅速响应，纷纷部署相关工作，全力推动海洋经济的发展。在此背景下，水下机器人产业迎来了快速 发展的机遇，将在海洋强国战略中扮演重要角色。 天海防务 从水下机器人产业链企业区域分布来看，广东、上海、江苏、浙江等东部沿海省市依托经济基础与海洋资源 优势，聚集了全国大部分水下机器人企业，形成产业集群效应。中西部地区水下机器人企业数量相对较少。 目前，中国水下机器人市场呈现"消费级-工业级-军用级"三级分化格局，尚未形成高度集聚。消费级企业以 鳍源科技、潜行创新、瀚海蓝帆 ...

Investment Rating - The report assigns a "Buy" rating to the company, marking its first coverage [6]. Core Insights - The company is a global leader in the anchor chain industry, with significant growth potential driven by the floating wind power sector [5][4]. - The company has a strong market position, benefiting from the increasing demand in shipbuilding and offshore platform investments [5][2]. - The company has shown impressive order growth, with a 68.1% increase in new orders for mooring chains in the first half of 2025 compared to the entire year of 2024 [3]. Company Overview - Jiangsu Yaxing Anchor Chain Co., Ltd. was established in 1981 and has developed into a leading manufacturer of ship chains and mooring chains, with a revenue composition of 71.6% from ship chains and 27.0% from mooring chains as of 2024 [1][26]. - The company has a production capacity of 350,000 tons, including 160,000 tons of ship chains and 110,000 tons of offshore platform mooring chains [26]. Industry Trends - The global shipbuilding industry is experiencing a growth cycle, with new ship orders increasing by 58.8% in 2024, and China's share of new orders rising to 66.9% [2][48]. - Offshore oil and gas exploration investments are projected to continue growing, with an expected investment of $220 billion in 2025, reflecting a 5.0% year-on-year increase [3]. - The floating wind power market is anticipated to see explosive growth, with a projected compound annual growth rate of 54.9% from 2024 to 2029 [4]. Financial Projections - The company is expected to achieve revenues of 2.25 billion, 2.61 billion, and 3.03 billion yuan from 2025 to 2027, with year-on-year growth rates of 13.3%, 15.7%, and 16.4% respectively [5][10]. - The net profit attributable to shareholders is projected to grow from 342 million yuan in 2025 to 488 million yuan in 2027, with growth rates of 21.1%, 19.9%, and 19.2% [5][10].

Core Insights - The maritime equipment sector experienced a slight increase of 0.09% on September 26, with Yaxing Anchor Chain leading the gains [1] - The Shanghai Composite Index closed at 3828.11, down 0.65%, while the Shenzhen Component Index closed at 13209.0, down 1.76% [1] Sector Performance - Yaxing Anchor Chain (601890) closed at 9.87, up 2.71% with a trading volume of 494,000 shares and a transaction value of 48.9 million yuan [1] - China Shipbuilding Industry (600150) closed at 34.90, with a minimal increase of 0.03%, trading 598,100 shares worth 2.099 billion yuan [1] - The overall trading volume and transaction values for other companies in the sector varied, with notable declines in some stocks like Hailanxin (300065), which fell by 5.32% [1] Capital Flow Analysis - The maritime equipment sector saw a net outflow of 98.57 million yuan from institutional investors, while retail investors contributed a net inflow of 68.00 million yuan [1] - Yaxing Anchor Chain attracted a net inflow of 58.54 million yuan from institutional investors, representing 11.98% of its trading volume [2] - Conversely, China Shipbuilding experienced a significant net outflow of 62.35 million yuan from institutional investors, indicating a negative sentiment towards the stock [2]

Summary of Yaxing Anchor Chain Conference Call Industry and Company Overview - Yaxing Anchor Chain operates in the deep-sea technology sector, focusing on core components for the shipping and offshore oil and gas industries, benefiting from an upturn in these sectors and the growth potential from floating wind power and mining chains, with expectations of doubling performance over three years [2][5][6] Key Points and Arguments - **Market Position**: Yaxing holds over 50% global market share in ship anchor chains, with even higher domestic market share, and is expanding into cast steel products, potentially doubling the value per ship to a market space of 4 billion RMB [2][10] - **Offshore Oil Service Growth**: The company’s mooring chain business is benefiting from increased utilization of drilling platforms and a new investment cycle in oil fields, with new orders in the first half of the year reaching 39,500 tons, exceeding last year's total [2][7] - **Floating Wind Power Potential**: Floating wind power is projected to enter commercialization by 2030 and mature by 2034, with a market size of approximately 14-15 billion RMB, significantly expanding Yaxing's growth potential as a mooring chain supplier [2][8][11] - **Mining Chain Market**: The mining chain market is estimated at around 2 billion RMB, currently dominated by foreign companies. Yaxing has secured multiple orders, indicating a shift towards domestic alternatives and future revenue growth [2][8][12] Additional Important Insights - **Underestimated Market Position**: The market has undervalued Yaxing's high market share in ship anchor chains and the performance elasticity from product diversification, alongside the growth potential from floating wind power and mining chains [2][9] - **Future Growth Projections**: Revenue growth is expected to be between 15% and 20%, with profit growth between 20% and 26%. The current valuation corresponds to a PE ratio of 23 for 2026 and 19 for 2027, indicating strong investment value [3][13] - **Government Support**: The company is positioned to benefit from government initiatives aimed at promoting high-quality development in the marine economy, as highlighted in recent government reports [4][6][11] Conclusion Yaxing Anchor Chain is well-positioned for significant growth in the deep-sea technology sector, with strong market shares, expanding product lines, and favorable government policies supporting its business model and future performance potential [2][5][9][13]

Group 1 - The report summarizes key insights from the macro strategy team regarding the manufacturing sector, focusing on cyclical reversals, growth opportunities, military trade expansion, and overseas development [1] - The core investment targets identified include companies such as Yokogawa Precision, Zhejiang Rongtai, Shanghai Yanpu, and Sany Heavy Industry, among others [2][3] - The report highlights the strong investment value of leading companies in the engineering machinery sector and notes the significant valuation of the humanoid robot startup Figure at $39 billion [4] Group 2 - The performance of various sectors in the manufacturing industry is tracked, with coal, electric equipment, electronics, and automotive sectors showing positive growth rates of 4% to 3% [5][27] - The industrial gas sector led the manufacturing indices with a 9% increase, followed by the Yangtze Engineering Machinery Index at 6% and the National New Energy Vehicle Index at 4% [5][29] - The report emphasizes the growth potential in the domestic chip market, particularly in FPGA technology, with a projected market size increase from $2.5 billion in 2024 to $4.7 billion by 2030, reflecting a CAGR of 11% [10] Group 3 - The report discusses the strategic partnership between Aolide and BOE Technology Group, which aims to enhance growth in the AMOLED sector through collaboration on equipment and materials [12][13] - Aolide's revenue for the first half of 2025 reached 6.61 billion yuan, marking a 14.92% year-on-year increase, with a significant rise in net profit attributed to improved operational cash flow [12][16] - The solid-state battery equipment sector is highlighted as a new growth area, with the market expected to grow from 2.06 billion yuan in 2025 to 33.62 billion yuan by 2030, indicating a CAGR of 74.8% [14] Group 4 - The report identifies the cooling and air conditioning components business as a key revenue driver, with a 25.49% year-on-year increase in revenue for the first half of 2025, driven by global climate demands [15][16] - The automotive components business also showed growth, with revenue increasing by 8.83% in the same period, supported by a diversified customer base including major automotive manufacturers [16] - The report notes the strategic focus on liquid cooling and robotics as emerging growth areas, with significant potential in data center applications and robotic actuator manufacturing [16][17] Group 5 - The report highlights the potential of the deep-sea technology sector, particularly in floating wind power, with a projected market growth rate of 70% CAGR from 2024 to 2030 [17][18] - The company is positioned to benefit from the increasing demand for mooring chains in the offshore oil and gas sector, with a strong order intake in 2025 [17][20] - The report emphasizes the importance of government policies in promoting deep-sea technology, which is expected to drive growth in the sector [18][20]

Core Viewpoint - The maritime equipment sector experienced a 1.67% increase on September 22, with Hailanxin leading the gains, while the Shanghai Composite Index rose by 0.22% and the Shenzhen Component Index increased by 0.67% [1] Group 1: Market Performance - The closing price of Hailanxin was 19.48, reflecting a 7.51% increase with a trading volume of 778,700 shares and a transaction value of 1.479 billion yuan [1] - Other notable performers included Zhongmoxing, which closed at 48.37 with a 3.24% increase, and China Shipbuilding, which closed at 35.77 with a 1.59% increase [1] - The overall net inflow of main funds in the maritime equipment sector was 212 million yuan, while retail investors saw a net outflow of 16.3169 million yuan [1] Group 2: Fund Flow Analysis - Hailanxin had a net inflow of main funds amounting to 1.89 billion yuan, but retail investors experienced a net outflow of 126 million yuan [2] - China Shipbuilding also saw a net inflow of 1.37 billion yuan from main funds, while retail investors had a net outflow of 11.586 million yuan [2] - The majority of stocks in the sector experienced net outflows from retail investors, indicating a trend of selling among this group [2]

Core Viewpoint - The report from Zheshang Securities highlights that Yaxing Anchor Chain is a core supporting enterprise in "deep-sea technology," benefiting from the rising demand in the shipping and offshore oil and gas sectors, as well as the growth potential in floating wind power [1] Group 1: Project Overview - Currently, there are five connected floating offshore wind power projects, including the Three Gorges Leading No. 1, China Shipbuilding Fuyun No. 1, CNOOC Guanquan No. 1, State Power Sharing No. 1, and Mingyang Tiancai No. 1, all of which are demonstration projects [1] - Three actively promoted domestic projects include the Hainan Wanning commercial project (100MW), CNOOC Lufeng Oilfield Group clean energy power supply transformation demonstration project (16MW), and the Three Gorges 16MW floating offshore wind power project [1] Group 2: Market Potential - According to the Global Wind Energy Council, it is estimated that by 2030, the global installed capacity of floating wind power will increase by 1.03GW, with a CAGR of 70% from 2024 to 2030; by 2034, the new installed capacity will reach 5.724GW, with a CAGR of 63% from 2024 to 2034 [1] - The estimated market space for new mooring chains corresponding to the new installed capacity of floating wind power in 2034 is approximately 14.3 billion [1] Group 3: Company Outlook - Previously, the company's performance was mainly reliant on the contributions from ship anchor chains and offshore oil service mooring chains, which had limited market space; however, with the active expansion into the floating wind power sector and product matrix, the market space has opened up [1] - The company is positioned as a key player in the shipping sector and is recognized as a strong alpha logic stock among wind power component companies, with positive prospects in shipping, offshore engineering, and floating wind power [1]