Market Overview - The marine equipment sector experienced a slight decline of 0.13% on September 10, with Guorui Technology leading the losses [1] - The Shanghai Composite Index closed at 3812.22, up 0.13%, while the Shenzhen Component Index closed at 12557.68, up 0.38% [1] Stock Performance - Key stocks in the marine equipment sector showed mixed performance, with China Shipbuilding at 37.98, up 0.37%, while Guorui Technology fell by 5.76% to 16.52 [1] - The trading volume and turnover for major stocks were significant, with China Shipbuilding recording a turnover of 2.486 billion yuan [1] Capital Flow - The marine equipment sector saw a net outflow of 283 million yuan from main funds, while retail investors contributed a net inflow of 259 million yuan [1] - Specific stock capital flows indicated that China Shipbuilding had a net outflow of 1.13 billion yuan from main funds, but a net inflow of 916 million yuan from retail investors [2]

Group 1 - On September 9, Yaxing Anchor Chain's stock increased by 0.72%, with a trading volume of 271 million yuan [1] - The financing data on the same day showed a financing purchase amount of 14.39 million yuan and a financing repayment of 19.07 million yuan, resulting in a net financing outflow of 4.68 million yuan [1] - As of September 9, the total balance of margin trading for Yaxing Anchor Chain was 381 million yuan, with a financing balance of 379 million yuan, accounting for 4.03% of the circulating market value [1] Group 2 - As of June 30, the number of shareholders for Yaxing Anchor Chain was 116,300, a decrease of 0.51% from the previous period [2] - For the first half of 2025, Yaxing Anchor Chain reported operating revenue of 999.1 million yuan, a year-on-year increase of 5.88%, while the net profit attributable to shareholders decreased by 17.43% to 115 million yuan [2] - Since its A-share listing, Yaxing Anchor Chain has distributed a total of 637 million yuan in dividends, with 283 million yuan distributed in the last three years [2] Group 3 - The top ten circulating shareholders as of June 30, 2025, included Hong Kong Central Clearing Limited as the third-largest shareholder with 13.42 million shares, an increase of 2.93 million shares from the previous period [2] - The fourth-largest shareholder, Bosera Growth Navigation Mixed A, held 8.07 million shares, a decrease of 1.42 million shares from the previous period [2] - New entrants among the top ten shareholders included Bosera Growth Advantage Mixed A, holding 4.37 million shares [2]

Investment Rating - The investment rating for the company is "Accumulate" [1] Core Views - The company reported a revenue of 999.1 million yuan for H1 2025, representing a year-on-year increase of 6%, with Q2 revenue at 403 million yuan, down 17% year-on-year [3] - The ship chain segment faced slight pressure, while the mooring chain revenue and orders accelerated significantly [3] - The company is expected to benefit from the high prosperity of the shipping and offshore industries, with the mining chain entering a rapid growth phase [5] - The floating offshore wind power sector presents a long-term growth opportunity for the company [5] Revenue Summary - H1 2025 revenue breakdown: - Ship chains and accessories: 618 million yuan, down 9% year-on-year - Mooring chains: 355 million yuan, up 51% year-on-year - H1 2025 sales volume: - Ship chains: 63,500 tons, down 2% year-on-year - Mooring chains: 20,900 tons, up 51% year-on-year - H1 2025 order intake: 142,700 tons, with ship anchor chains at 103,200 tons and mooring chains at 39,500 tons [3] Profit Summary - H1 2025 net profit attributable to shareholders was 115 million yuan, down 17% year-on-year, with a net profit margin of 11.98% [4] - The gross profit margin for H1 2025 was 27.71%, benefiting from the higher proportion of mooring chain revenue [4] - Investment income and fair value changes totaled 17.33 million yuan, a decrease of 36.43 million yuan year-on-year, impacting profit performance [4] Financial Forecasts - Adjusted revenue forecasts for 2025-2027 are 2.2 billion, 2.526 billion, and 2.822 billion yuan, representing year-on-year growth of 11%, 15%, and 12% respectively [6] - Adjusted net profit forecasts for 2025-2027 are 309 million, 369 million, and 416 million yuan, with year-on-year growth of 10%, 20%, and 13% respectively [6] - The estimated EPS for 2025-2027 is 0.32, 0.38, and 0.43 yuan [6]

Core Points - The company’s board of directors has approved a proposal to authorize the board to formulate a mid-term dividend plan for 2025, contingent upon meeting profit distribution conditions [1] - The specific dividend distribution plan was approved during the board meeting held on August 22, 2025 [1] Distribution Plan - The dividend will be distributed for the half-year of 2025 [2] - The total number of shares for the dividend calculation is 959,400,000, with a cash dividend of 0.04 RMB per share (before tax), totaling 38,376,000 RMB [2] Implementation Details - The cash dividends will be distributed through the China Securities Depository and Clearing Corporation Limited Shanghai Branch to shareholders registered by the end of the trading day on the record date [3] - Shareholders who have not completed designated transactions will have their dividends held by the clearing company until the transactions are completed [3] - The company will directly distribute cash dividends to specific shareholders, Mr. Tao Anxiang and Mr. Tao Xing [3] Taxation Information - For individual shareholders and securities investment funds holding shares for over one year, the cash dividend of 0.04 RMB per share is exempt from personal income tax [5] - For shares held for one year or less, the company will not withhold personal income tax at the time of distribution, but tax will be calculated upon the transfer of shares [5] - Qualified Foreign Institutional Investors (QFIIs) will have a 10% corporate income tax withheld, resulting in a net cash dividend of 0.036 RMB per share [6] - Hong Kong investors will also have a 10% tax withheld, leading to a net cash dividend of 0.036 RMB per share [6] Contact Information - For inquiries regarding the dividend distribution plan, shareholders can contact the company’s secretariat office at 0523-84686986 [7]

Core Viewpoint - The company, Yaxing Anchor Chain, announced its profit distribution plan for the first half of 2025, which includes a cash dividend of 0.04 yuan per share (tax included) [1] Summary by Relevant Sections - **Dividend Announcement** - The cash dividend of 0.04 yuan per share is set to be distributed to A-share holders [1] - The record date for the dividend is September 11, 2025, with the ex-dividend date and payment date both on September 12, 2025 [1]

Core Points - The company announced a cash dividend of 0.04 yuan per share for its A shares, totaling 38,376,000 yuan based on a total share capital of 959,400,000 shares [1][2] - The relevant dates for the dividend distribution include the record date on September 11, 2025, the last trading day on September 12, 2025, and the ex-dividend date also on September 12, 2025 [1][2] - The company will not issue bonus shares or capital increases as part of this dividend distribution [2] Dividend Distribution Details - The cash dividend will be distributed to shareholders registered with the China Securities Depository and Clearing Corporation Limited, Shanghai Branch, after the market closes on the record date [2] - Shareholders who have completed designated transactions can receive their cash dividends on the distribution date at their designated securities business department [2] - For shareholders holding unrestricted circulating shares, the company will manage the distribution of dividends according to relevant tax policies [3][4] Taxation Policies - Individual shareholders and securities investment funds holding shares for over one year will not be subject to personal income tax on the dividend income [3] - For shares held for one year or less, the company will not withhold personal income tax at the time of distribution, but tax will be calculated upon the transfer of shares [3] - The actual tax burden varies based on the holding period, with a 20% tax for holdings of one month or less, and a 10% tax for holdings between one month and one year [3] Additional Information - The company provides contact information for inquiries regarding the dividend distribution plan [5]

证券代码：601890 证券简称：亚星锚链 公告编号：临 2025-034 江苏亚星锚链股份有限公司 2025年半年度权益分派实施公告 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法律责任。 重要内容提示： 每股分配比例 A 股每股现金红利0.04元 相关日期 | 股份类别 | 股权登记日 | 最后交易日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | --- | --- | | Ａ股 | 2025/9/11 | － | 2025/9/12 | 2025/9/12 | 差异化分红送转： 否 一、 通过分配方案的股东会届次和日期 2025 年 5 月 22 日，公司 2024 年年度股东大会审议通过《关于提请股东大会授权董事会 制定中期分红方案的议案》，授权董事会在符合利润分配条件下，制定并实施具体的 2025 年 中期利润分配方案。本次利润分配方案经公司 2025 年 8 月 22 日召开第六届董事会第七次会 议审议通过。 二、 分配方案 | 股份类别 | 股权登记日 | 最后交易日 | 除权（息）日 ...

Market Overview - The marine equipment sector experienced a decline of 1.31% on September 2, with Zhongke Haixun leading the drop [1] - The Shanghai Composite Index closed at 3858.13, down 0.45%, while the Shenzhen Component Index closed at 12553.84, down 2.14% [1] Stock Performance - Key stocks in the marine equipment sector showed the following closing prices and percentage changes: - China Shipbuilding (600150): 38.45, -1.21% - Yaxing Chain (601890): 10.08, -1.95% - China Marine Defense (600764): 34.45, -1.96% - China Ship Defense (600685): 29.24, -2.47% - Jianglong Shipbuilding (300589): 14.14, -3.02% - Tianhai Defense (300008): 7.17, -3.24% - Guorui Technology (300600): 18.45, -4.16% - Hailanxin (300065): 20.09, -4.74% - Zhonggui Haixun (300810): 52.21, -5.25% [1] Capital Flow - The marine equipment sector saw a net outflow of 605 million yuan from institutional investors, while retail investors contributed a net inflow of 508 million yuan [1] - The following table summarizes the capital flow for key stocks: - Zhongke Haixun (300810): Institutional -15.99 million, Retail +26.18 million - Jianglong Shipbuilding (300589): Institutional -20.29 million, Retail +18.36 million - China Ship Defense (600685): Institutional -28.92 million, Retail +33.69 million - Guorui Technology (300600): Institutional -30.66 million, Retail +30.70 million - China Marine Defense (600764): Institutional -41.68 million, Retail +27.36 million - Yaxing Chain (601890): Institutional -52.12 million, Retail +44.98 million - Tianhai Defense (300008): Institutional -129 million, Retail +108 million - Hailanxin (300065): Institutional -135 million, Retail +129 million - China Shipbuilding (600150): Institutional -151 million, Retail +89.23 million [2]

Market Overview - The marine equipment sector increased by 0.81% on August 29, with Zhongke Haixun leading the gains [1] - The Shanghai Composite Index closed at 3857.93, up 0.37%, while the Shenzhen Component Index closed at 12696.15, up 0.99% [1] Stock Performance - Notable stock performances include: - Yihard Technology (300810) rose by 4.29% to a closing price of 53.94 [1] - Guorui Technology (300600) increased by 3.71% to 19.27 [1] - China Shipbuilding (600150) saw a 1.52% rise, closing at 37.38 [1] - Hailanxin (300065) and China Ship Defense (600685) had smaller increases of 1.15% and 0.61%, respectively [1] - Tianhai Defense (300008) and Jianglong Shipbuilding (300589) experienced slight declines of 0.13% and 0.48% [1] Capital Flow - The marine equipment sector had a net inflow of 154 million yuan from institutional investors, while retail investors saw a net outflow of 144 million yuan [1] - Detailed capital flow for key stocks includes: - China Shipbuilding had a net inflow of 91.36 million yuan from institutional investors [2] - Zhongke Haixun attracted 70.05 million yuan, but retail investors withdrew 83.70 million yuan [2] - Guorui Technology had a net inflow of 19.56 million yuan from institutions, with retail investors withdrawing 18.39 million yuan [2] - China Haifang (600764) saw a net inflow of 6.61 million yuan from institutions, while retail investors withdrew 17.53 million yuan [2]

Group 1 - The report aims to summarize important in-depth reports, significant commentary, and marginal changes within the macro strategy team of large manufacturing [1] - Key companies highlighted include Shanghai Yanpu, Honghe Precision, Zhenlan Instrument, Zhejiang Rongtai, Sany Heavy Industry, China Shipbuilding, Huace Testing, Xugong Machinery, Hangcha Group, Yaxing Anchor Chain, Robotech, Juxing Technology, Yadea Holdings, Aima Technology, Hongdu Aviation, Zhongji United, and BGI [2][3] Group 2 - The mechanical equipment sector emphasizes investment opportunities in leading engineering machinery companies, with a continuous push for humanoid robots and overseas expansion [4] - As of August 22, 2025, the best-performing indices in the large manufacturing sector included the Sci-Tech Innovation 50 (+13%), the Semiconductor Index (+12%), and the ChiNext Index (+6%) [5][21] Group 3 - Zhongji United's mid-year report met expectations, with a 87% year-on-year increase in net profit attributable to shareholders for the first half of 2025 [8] - The company has significantly improved its profitability, with a sales net profit margin increasing by 8 percentage points year-on-year in Q2 2025 [8] - The wind power sector is experiencing high demand, with domestic wind power installations expected to reach approximately 105-115 GW in 2025, indicating a strong growth trajectory [9] Group 4 - Jinwo Co. reported a 94% year-on-year increase in net profit for the first half of 2025, driven by growth in its screw and insulation shaft sleeve segments [9] - The company is focusing on upgrading production capacity and enhancing its international layout through a planned fundraising of up to 950 million yuan [9] - The humanoid robot industry is anticipated to explode, with the market expected to grow significantly, driving demand for high-precision CNC machine tools [11]