2025 年迄今，兰石重装已披露的核聚变相关订单总额约为 9 亿元，订 单增速非常快，大型设备如线圈盒单个体量金额非常可观，是未来拓展 的重要方向。 兰石重装主要参与冷却系统、包覆层、屏蔽包覆层及整流系统等多个核 聚变子系统的建设，技术壁垒主要体现在高效传热、高温材料及复杂系 统集成方面，未来批量化生产后，其毛利水平预计将高于三代核电产品。 料焊接。 兰石重装 20251125 摘要 兰石重装具备高端金属材料研发和锻造能力，以及工业智能装备设计和 生产能力，已在三代核电站装备（如压力容器、板式换热器）方面有较 好布局，并通过收购中核嘉华实现核燃料全产业链覆盖。 控股股东变更为甘肃国投后，兰石重装将获得更强的融资支持和甘肃省 内装备制造业资源的协同发展，有利于拓展市场和提升竞争力，甘肃国 投作为 3A 级信用评级的平台公司，将为兰石集团提供更强有力的融资 支持。 兰石重装在可控核聚变项目中，从换热器项目切入，与 CFEDR 合作开 发高性能材料（如 316 控氮合金钢），并从整体系统设计角度切入，注 重模块化开发，青岛基地新建车间用于高温合金材料焊接。 兰石重装在聚变堆高效换热器方面深耕多年，积累了板翘式换热器 ...

Core Points - The stock of Lanstone Heavy Industry (603169) experienced a significant decline of 9.85% on the trading day, with a turnover rate of 11.38% and a total transaction value of 1.509 billion yuan [1] - The company reported a revenue of 4.746 billion yuan for the first three quarters of the year, reflecting a year-on-year growth of 26.93%, while net profit decreased by 88.33% to 11.1964 million yuan [2] Trading Activity - The stock was listed on the Shanghai Stock Exchange for a deviation of -9.70%, with net selling from the Shanghai-Hong Kong Stock Connect amounting to 6.0046 million yuan [1] - The top five trading departments accounted for a total transaction of 1.89 billion yuan, with buying amounting to 862.928 million yuan and selling at 1.03 billion yuan, resulting in a net selling of 167.529 million yuan [1] - The main buying and selling department was the Shanghai-Hong Kong Stock Connect, with a buying amount of 376.045 million yuan and selling amount of 436.091 million yuan, leading to a net selling of 6.0046 million yuan [1] Fund Flow - The stock saw a net outflow of 251 million yuan from main funds, with a significant outflow of 163 million yuan from large orders [1] - Over the past five days, the main funds experienced a net inflow of 3.0071 million yuan [1] - As of November 25, the margin trading balance for the stock was 630 million yuan, with a financing balance of 628 million yuan and a securities lending balance of 2.0397 million yuan [1] - The financing balance increased by 58.6242 million yuan over the past five days, representing a growth of 10.30%, while the securities lending balance rose by 102.3 thousand yuan, a growth of 5.28% [1]

Core Viewpoint - Lanstone Heavy Industry (603169) experienced a significant decline of 9.85% in stock price, with a trading volume of 1.509 billion yuan and a turnover rate of 11.38% on the day of reporting [2] Trading Activity - The stock was listed on the Shanghai Stock Exchange for a daily price deviation of -9.70%, with net selling from the Shanghai-Hong Kong Stock Connect amounting to 6.0046 million yuan [2] - The top five trading departments recorded a total transaction of 1.89 billion yuan, with buying amounting to 862.93 million yuan and selling at 1.03 billion yuan, resulting in a net selling of 167.53 million yuan [2] - The largest buying and selling department was the Shanghai-Hong Kong Stock Connect, with buying at 37.6045 million yuan and selling at 43.6091 million yuan, leading to a net selling of 6.0046 million yuan [2] Fund Flow - The stock saw a net outflow of 251 million yuan in principal funds, with a significant outflow of 163 million yuan from large orders and 88.91 million yuan from major funds [2] - Over the past five days, the stock experienced a net inflow of 3.0071 million yuan [2] Margin Trading Data - As of November 25, the margin trading balance for the stock was 630 million yuan, with a financing balance of 628 million yuan and a securities lending balance of 2.0397 million yuan [2] - In the last five days, the financing balance increased by 58.6242 million yuan, reflecting a growth rate of 10.30%, while the securities lending balance rose by 102,300 yuan, marking a 5.28% increase [2][3]

证券之星消息，11月26日专用设备板块较上一交易日下跌0.23%，兰石重装领跌。当日上证指数报收于 3864.18，下跌0.15%。深证成指报收于12907.83，上涨1.02%。专用设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) | | --- | --- | --- | --- | --- | --- | | 600835 | 上海机电 | 33.00 | 10.00% | 53.75万 | 17.03亿 | | 300472 | *ST新元 | 9.16 | 7.89% | 20.97万 | 1.87亿 | | 300159 | *ST新研 | 3.24 | 4.85% | 42.24万 | 1.34亿 | | 688312 | 症麦科技 | 31.03 | 4.20% | - 3.84万 | 1.18亿 | | 920091 | 大鹏工业 | 64.33 | 4.08% | 9.41万 | 5.88亿 | | 300669 | 沪宁股份 | 27.76 | 3.81% | 2.30万 | 6290.86万 | | 688648 | 中郎科技 | ...

Group 1 - The core point of the news is that Lanzhou Lanshi Heavy Industry Co., Ltd. plans to introduce strategic investors through a capital increase and share expansion to optimize its equity structure and enhance core competitiveness [1] - The capital increase will be publicly listed on the Gansu Province Property Exchange, aiming to introduce no more than 5 strategic investors, with an expected increase in registered capital of 43 million yuan and a total capital increase not exceeding 130 million yuan [1][2] - After the capital increase, strategic investors will hold no more than 31% of the equity in the heavy industry company, while Lanzhi Heavy Industry will maintain at least 69% ownership, ensuring it remains a controlling subsidiary within the consolidated financial statements of Lanzhi Heavy Industry [1] Group 2 - Financial data indicates that the heavy industry company has a stable operating condition, with total audited assets of 687 million yuan and net assets of 203 million yuan as of December 31, 2024, and a net profit of 28.73 million yuan for the same period [2] - As of June 30, 2025, the total audited assets were 684 million yuan, net assets were 220 million yuan, and the company achieved a revenue of 189 million yuan with a net profit of 16.71 million yuan for the first half of 2025 [2] - The pricing for the capital increase is based on an evaluation report, with the total equity value of the heavy industry company assessed at 299 million yuan, leading to a base price of 2.99 yuan per share for the capital increase [2] Group 3 - Lanzhi Heavy Industry has indicated that the final investors and amounts for the capital increase are uncertain due to the public listing method [3] - Additionally, Hunan Hualing Xiangtan Steel Co., Ltd. disclosed a plan to reduce its holdings in Lanzhi Heavy Industry, intending to sell up to 13.06 million shares, which is 1% of the total share capital [3] - As of November 25, 2025, the reduction plan was completed, with a total of 13.0628 million shares sold, reducing its stake from approximately 6% to just under 5% [3]

Core Viewpoint - Lanzhou Lanshi Heavy Equipment Co., Ltd. plans to increase capital and introduce strategic investors through public listing, aiming to enhance its subsidiary's technological capabilities and optimize its equity structure [2][6]. Group 1: Capital Increase Details - The company will introduce up to 5 strategic investors, with a total capital increase not exceeding 130 million yuan, and the registered capital expected to increase by 43 million yuan [2][6]. - The public listing will occur at the Gansu Property Exchange, with the final transaction details remaining uncertain [2][6]. - The company will waive its preferential subscription rights for this capital increase [2][6]. Group 2: Subsidiary Information - The subsidiary, Lanzhou Lanshi Heavy Machinery Co., Ltd., was established on July 17, 2006, with a registered capital of 100 million yuan [3][4]. - The subsidiary specializes in integrated industrial intelligent equipment, being one of the earliest national high-tech enterprises in this field [3][4]. Group 3: Financial Assessment - The total equity value of the subsidiary was assessed at approximately 299.3 million yuan as of June 30, 2025, with a base price of 2.993 yuan per share for the capital increase [6][5]. - The capital increase will result in a change in the equity structure of the subsidiary, with strategic investors potentially holding up to 31% of the shares post-transaction [2][6]. Group 4: Impact on the Company - The capital increase aligns with the company's long-term strategic goals, enhancing the subsidiary's R&D and product innovation capabilities [6][7]. - The transaction will not affect the company's normal operations, and the subsidiary will remain a controlled entity within the company's consolidated financial statements [7].

（编辑 姚尧） 证券日报网讯 11月25日晚间，兰石重装发布公告称，本次减持计划实施前，兰州兰石重型装备股份有 限公司（以下简称"兰石重装"或"公司"）持股5%以上股东湖南华菱湘潭钢铁有限公司（以下简称"华菱 湘钢"）持有公司无限售条件流通股78，351，508股，占公司总股本的5.99801%。公司于2025年11月25 日收到华菱湘钢发来的《关于减持兰石重装股份结果的告知函》，截至2025年11月25日，华菱湘钢在减 持计划期间通过集中竞价方式累计减持公司股份13，062，818股，占公司总股本的0.99999%，其中于 2025年11月13日减持公司股份13，036，918股，占公司总股本的0.99801%，具体内容详见公司于2025 年11月14日披露的《关于持股5%以上股东减持至5%的权益变动提示性公告》；华菱湘钢于2025年11月 25日减持公司股份25，900股，占公司总股本的0.00198%。截至本公告日，华菱湘钢本次减持计划已实 施完成，减持后华菱湘钢持有公司股份65，288，690股，占公司总股本的4.99802%，华菱湘钢不再是 公司持股5%以上股东。 ...

Core Viewpoint - The company plans to introduce strategic investors through a capital increase to optimize its equity structure and enhance core competitiveness [1][3] Group 1: Capital Increase Details - The subsidiary, Lanzhou Lanshi Heavy Industry Co., Ltd., will publicly list the capital increase on the Gansu Provincial Property Exchange, aiming to introduce no more than 5 strategic investors [1] - The registered capital is expected to increase by 43 million yuan, with a total capital increase amount not exceeding 130 million yuan [1] - After the capital increase, strategic investors will hold up to 31% of the subsidiary, while the parent company will maintain at least 69% ownership [1] Group 2: Financial Performance - As of December 31, 2024, the subsidiary's audited total assets were 687 million yuan, with a net asset value of 203 million yuan [2] - For the fiscal year 2024, the subsidiary achieved a revenue of 409 million yuan and a net profit of 28.74 million yuan [2] - As of June 30, 2025, the audited total assets were 684 million yuan, with a net asset value of 220 million yuan [2] Group 3: Strategic Implications - The capital increase aligns with the company's long-term strategic goals and is expected to enhance technological research and product innovation capabilities [3] - The introduction of strategic investors is anticipated to support the subsidiary's leapfrog development without affecting normal operations or harming shareholder interests [3]

资料显示，重工公司具备快速锻造液压机组、径向锻造机组、薄板成型液压机、重型数控卷板机、粉末 冶金压机、热模锻成型压机、环件制坯压机、校直机、智能锻造操作机、重载转序机器人、自动化生产 线等通用系列装备的研发、设计、制造及工程总承包技术能力。 重工公司自成功研制国内第一套8MN快速锻造液压机组、国内第一套1.6MN径向锻造机组、全球最大的 300MN多缸薄板成型液压机以来，累计为国内外客户提供300余台套快速锻造液压机组及金属压延装 备，市场占有率达70%以上，稳居国内压延装备行业龙头地位，产品远销俄罗斯、印度、缅甸等国家。 本报讯(记者刘欢)11月25日晚间，兰州兰石重型装备股份有限公司(以下简称"兰石重装（603169）")发 布公告称，公司全资子公司兰州兰石重工有限公司(以下简称"重工公司")拟通过公开挂牌方式引入不超 过5名战略投资者并预计增加注册资本4300万元，增资金额不超过1.3亿元。增资完成后，战略投资者将 合计持有重工公司不超过31%股权，兰石重装仍保持控股股东地位。 公告显示，重工公司此次通过增资扩股引入战略投资者，符合其发展战略和长远规划，有助于加强重工 公司作为国家级专精特新"小巨人"企 ...

每经AI快讯，兰石重装（SH 603169，收盘价：10.96元）11月25日晚间发布公告称，公司第六届第九次 董事会会议于2025年11月25日在公司六楼会议室召开。会议审议了《关于公司组织机构调整的议案》等 文件。 2024年1至12月份，兰石重装的营业收入构成为：机械制造占比72.87%，金属新材料占比14.29%，工程 总包占比9.96%，技术服务占比2.02%，其他业务占比0.86%。 截至发稿，兰石重装市值为143亿元。 每经头条（nbdtoutiao）——688496，被证监会立案！刚上市业绩就变脸，亏损超1亿元；核心产品受重 创：第一大客户"自产自用"，减少采购 （记者 曾健辉） ...