证券代码：601908 证券简称：京运通 公告编号：临 2025-043 北京京运通科技股份有限公司 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法律责任。 重要内容提示： 会议召开时间：2025 年 09 月 26 日（星期五）上午 10:00-11:00。 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 09 月 19 日（星期五）至 09 月 25 日（星期四）16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 ir@jytcorp.com 进行提问。公司将在说明会上对投资者普遍关注的问题进行回答。 北京京运通科技股份有限公司（以下简称"公司"）已于 2025 年 08 月 29 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 年半年度经营成果和财务状 ...

Core Viewpoint - The rare earth industry is experiencing a positive trend, with significant price increases expected due to rising demand from downstream sectors and strategic importance in the context of "de-globalization" [4]. Group 1: Market Performance - As of September 17, 2025, the China Rare Earth Industry Index rose by 0.39%, with notable stock performances including Jingyuntong reaching the daily limit increase, and Dayang Electric and Wolong Electric Drive rising by 8.22% and 7.50% respectively [1]. - The rare earth ETF, Jiashi (516150), increased by 0.58% [1]. - The Jiashi rare earth ETF recorded a turnover rate of 1.73% and a transaction volume of 147 million yuan, leading comparable funds in average daily trading volume over the past month at 564 million yuan [3]. Group 2: Fund Performance - The Jiashi rare earth ETF saw a significant scale increase of 367 million yuan over the past week, ranking first among comparable funds [3]. - The fund's net inflow reached 144 million yuan recently, with a total net value increase of 122.13% over the past year, placing it in the top 3.85% of index stock funds [3]. - Since its inception, the Jiashi rare earth ETF achieved a maximum single-month return of 41.25% and an average monthly return of 10.78% during rising months [3]. Group 3: Industry Fundamentals - The rare earth supply chain is entering a traditional consumption peak season, with increasing orders from downstream magnetic material manufacturers and strong overseas replenishment demand, driving up rare earth prices [4]. - Huatai Securities emphasizes the strategic importance of rare earths and anticipates a continued upward trend in prices from 2025 to 2026 [4]. - The active bidding for praseodymium and neodymium metals in July reflects strong market optimism regarding rare earth prices [4]. Group 4: Key Stocks - The top ten weighted stocks in the China Rare Earth Industry Index account for 62.15% of the index, with notable companies including Northern Rare Earth, China Rare Earth, and Lingyi Technology [3][4]. - The performance of key stocks varies, with Northern Rare Earth and China Rare Earth experiencing slight declines of 1.10% and 0.53% respectively, while Wolong Electric Drive saw a significant increase of 7.50% [6].

Group 1 - The core point of the news is the performance and financial details of Beijing Jingyuntong Technology Co., Ltd., which saw a stock price increase of 5.29% to 4.38 CNY per share, with a total market capitalization of 10.576 billion CNY [1] - The company was established on August 8, 2002, and went public on September 8, 2011, focusing on high-end equipment manufacturing, photovoltaic power generation, new materials, and energy conservation and environmental protection [1] - The revenue composition of the company includes silicon wafers (36.93%), electricity (36.00%), silicon rods (16.94%), other (5.26%), denitration catalysts (4.84%), and equipment (0.03%) [1] Group 2 - Southern Fund's Southern CSI 1000 ETF (512100) is among the top ten circulating shareholders of Jingyuntong, having increased its holdings by 2.5518 million shares in the second quarter, totaling 13.3961 million shares, which represents 0.55% of the circulating shares [2] - The Southern CSI 1000 ETF has a current scale of 64.953 billion CNY and has achieved a year-to-date return of 25.92%, ranking 1846 out of 4222 in its category [2] - The fund manager, Cui Lei, has been in position for 6 years and 314 days, with the fund's total asset scale at 94.976 billion CNY and a best return of 147.61% during the tenure [3]

Core Insights - On September 9, Jingyuntong's stock fell by 5.37%, with a trading volume of 777 million yuan [1] - The company experienced a net financing purchase of 11.25 million yuan on the same day, with a total financing and securities lending balance of 282 million yuan [1] Financing and Securities Lending - On September 9, Jingyuntong had a financing purchase of 54.30 million yuan, with a current financing balance of 280 million yuan, accounting for 2.74% of its market capitalization [1] - The financing balance is above the 70th percentile of the past year, indicating a high level [1] - In terms of securities lending, 92,200 shares were repaid, while 17,500 shares were sold, with a selling amount of 74,000 yuan [1] - The remaining securities lending volume was 394,800 shares, with a balance of 1.67 million yuan, exceeding the 60th percentile of the past year, also indicating a high level [1] Company Overview - Beijing Jingyuntong Technology Co., Ltd. was established on August 8, 2002, and listed on September 8, 2011 [1] - The company's main business includes high-end equipment manufacturing, photovoltaic power generation, new materials, and energy conservation and environmental protection [1] - The revenue composition is as follows: silicon wafers 36.93%, electricity 36.00%, silicon rods 16.94%, others 5.26%, denitration catalysts 4.84%, and equipment 0.03% [1] Shareholder Information - As of June 30, the number of shareholders increased by 22.47% to 130,200, while the average circulating shares per person decreased by 18.35% to 18,543 shares [2] - For the first half of 2025, Jingyuntong reported a revenue of 1.525 billion yuan, a year-on-year decrease of 47.25%, and a net profit attributable to shareholders of -212 million yuan, an increase of 80.46% year-on-year [2] - Since its A-share listing, the company has distributed a total of 810 million yuan in dividends, with 31.39 million yuan distributed in the last three years [2] Institutional Holdings - As of June 30, among the top ten circulating shareholders, Hong Kong Central Clearing Limited is the third-largest shareholder with 19.2443 million shares, an increase of 9.5089 million shares from the previous period [2] - Southern CSI 1000 ETF ranks fourth with 13.3961 million shares, an increase of 2.5518 million shares [2] - Other notable institutional shareholders include Huaxia CSI 1000 ETF, which holds 7.8890 million shares, and Jia Shi CSI Rare Earth Industry ETF, holding 7.3794 million shares, both showing increases in holdings [2]

Core Points - On September 9, Jingyuntong's stock fell by 5.15%, closing at 4.24 CNY per share, with a trading volume of 515 million CNY and a turnover rate of 4.97%, resulting in a total market capitalization of 10.238 billion CNY [1] - Jingyuntong, established on August 8, 2002, and listed on September 8, 2011, operates in high-end equipment manufacturing, photovoltaic power generation, new materials, and energy conservation and environmental protection [1] - The company's revenue composition includes: silicon wafers 36.93%, electricity 36.00%, silicon rods 16.94%, others 5.26%, denitration catalysts 4.84%, and equipment 0.03% [1] Shareholder Analysis - Among the top ten circulating shareholders of Jingyuntong, one fund from GF Fund ranks first. The GF CSI 1000 ETF (560010) increased its holdings by 1.3117 million shares in Q2, holding a total of 6.2733 million shares, which accounts for 0.26% of the circulating shares [2] - The estimated floating loss for the GF CSI 1000 ETF today is approximately 1.4428 million CNY [2] - The GF CSI 1000 ETF was established on July 28, 2022, with a current scale of 30.718 billion CNY. Year-to-date returns are 23.88%, ranking 1856 out of 4222 in its category; the one-year return is 63.74%, ranking 1294 out of 3798; and since inception, the return is 5.96% [2]

Core Points - The electricity sector experienced a rise of 0.91% on the trading day, with Lu Xiao Technology leading the gains [1] - The Shanghai Composite Index closed at 3812.51, up 1.24%, while the Shenzhen Component Index closed at 12590.56, up 3.89% [1] Company Performance - Lu Xiao Technology (002617) closed at 9.09, with a gain of 10.05% and a trading volume of 3.1734 million shares, totaling a transaction value of 2.797 billion [1] - Shanghai Electric (600021) closed at 20.77, up 10.01%, with a trading volume of 1.5713 million shares, totaling a transaction value of 3.059 billion [1] - Tianfu Energy (600509) closed at 7.32, with a gain of 7.17% and a trading volume of 1.4411 million shares, totaling a transaction value of 1.039 billion [1] - Longyuan Power (001289) closed at 17.82, up 6.07%, with a trading volume of 154,700 shares, totaling a transaction value of 270 million [1] - Jingyuntong (601908) closed at 4.34, with a gain of 5.60% and a trading volume of 2.3028 million shares, totaling a transaction value of 992 million [1] - Other notable performers include Jiaze New Energy (619109), Xiexin Energy Technology (002015), Huaguang Huaneng (600475), ST Yinda (300125), and Jiawei New Energy (300317) with varying gains and trading volumes [1] Fund Flow - The electricity sector saw a net inflow of 784 million from main funds, while retail funds experienced a net outflow of 246 million [3] - Speculative funds had a net outflow of 538 million [3]

Core Viewpoint - The power sector experienced a significant rally, with Luoxiao Technology hitting the daily limit, Shanghai Electric rising over 5%, and Tianfu Energy, Jingyuntong, and Huaguang Huaneng also seeing gains [1] Group 1 - Luoxiao Technology reached the daily limit, indicating strong investor interest and confidence in the company [1] - Shanghai Electric's stock increased by more than 5%, reflecting positive market sentiment towards the company [1] - Other companies in the sector, including Tianfu Energy, Jingyuntong, and Huaguang Huaneng, also saw their stock prices rise, suggesting a broader trend of growth within the power industry [1]

Group 1 - The photovoltaic and energy storage sectors experienced an initial rise on September 5, with notable stocks such as Tongrun Equipment achieving a three-day consecutive increase [1] - Other companies that saw gains include Nenghui Technology, Sunshine Power, Jingyun Tong, Trina Solar, and Daqo Energy [1]

Group 1 - The core viewpoint of the article indicates that silicon wafer prices continue to rise, driven by strong demand and increasing raw material costs [2][3] - N-type G10L silicon wafer average transaction price is 1.28 yuan/piece, up 2.40% week-on-week; N-type G12R at 1.38 yuan/piece, up 0.73%; and N-type G12 at 1.60 yuan/piece, up 1.91% [2][4] - The overall operating rate in the industry has slightly increased, with leading companies operating at 52% and 50%, while integrated companies range from 54% to 80% [2] Group 2 - Downstream battery prices remain stable compared to last week, with mainstream battery prices at 0.28-0.29 yuan/W and component prices slightly increasing to 0.66-0.68 yuan/W, up 0.01 yuan/W week-on-week [3] - If raw material polysilicon prices continue to rise, the demand for 183 silicon wafers is expected to lead the market; however, domestic terminal component demand has not shown significant recovery [3] - The price fluctuations of various silicon wafers are based on weighted averages from 12 companies, which account for 92.77% of the domestic monocrystalline silicon wafer production in Q2 2025 [5]

Group 1 - The core point of the news is that Beijing Jingyuntong Technology Co., Ltd. experienced a stock decline of 5.03%, with a current share price of 4.15 yuan and a total market capitalization of 10.021 billion yuan [1] - The company, established on August 8, 2002, and listed on September 8, 2011, operates in four main industries: high-end equipment manufacturing, photovoltaic power generation, new materials, and energy conservation and environmental protection [1] Group 2 - From the perspective of major circulating shareholders, Southern Fund's Southern CSI 1000 ETF (512100) increased its holdings by 2.5518 million shares in the second quarter, now holding a total of 13.3961 million shares, which represents 0.55% of the circulating shares [2] - The estimated floating loss for Southern CSI 1000 ETF today is approximately 2.9471 million yuan [2] - The Southern CSI 1000 ETF was established on September 29, 2016, with a latest scale of 64.953 billion yuan, and has achieved a year-to-date return of 22.23% [2]