2025 年 7 月 15 日 | H70529@capital.com.tw | | | --- | --- | | 何利超 目标价(元) | 100 | 公司基本资讯 | 产业别 | | 通信 | | --- | --- | --- | | A 股价(2025/7/14) | | 82.24 | | 上证指数(2025/7/14) | | 3519.65 | | 股价 12 个月高/低 | | 95.04/37.84 | | 总发行股数(百万) | | 261.66 | | A 股数(百万) | | 261.66 | | A 市值(亿元) | | 215.19 | | 主要股东 | | 钱鹏鹤 | | | | (17.19%) | | 每股净值(元) | | 15.81 | | | 一个月 三个月 | 一年 | | 股价涨跌(%) | 6.0 22.3 | 63.3 | 近期评等 | 出刊日期 | 前日收盘 | 评等 | | --- | --- | --- | | 2024-09-23 | 39.05 | 买进 | | 产品组合 | | | --- | --- | | 无线通信模组 | 98.67% | ...

[Table_Main] 行业研究|电信服务 证券研究报告 电信服务行业周报 2025 年 7 月 13 日 [Table_Title] Grok 4 多模态问题分析能力增强，算力消耗倍增 ——通信行业周报 [Table_Summary] 报告要点： 市场整体行情及通信细分板块行情回顾 周行情：本周（2025.7.7-2025.7.13）上证综指上涨 1.09%，深证成 指上涨1.78%，创业板指上涨 2.36%。本周申万通信上涨2.13%。考 虑通信行业的高景气度延续，AI、5.5G 及卫星通信持续推动行业发 展，我们给予通信行业"推荐"评级。 国际政治环境不确定性风险、市场需求不及预期风险。 [Table_Invest]推荐|维持 资料来源：Ifind，国元证券研究所 -20% 0% 20% 40% 60% 7/13 10/13 1/13 4/13 7/13 沪深300 通信(申万) [Table_DocReport] 相关研究报告 细分行业：本周（2025.7.7-2025.7.13）通信板块三级子行业中，通 信网络设备及器件上涨幅度最高，涨幅为 4.16%，通信应用增值服务 上涨幅度最低，涨幅为 0. ...

Core Viewpoint - The company, Shanghai Mijuan Communication Technology Co., Ltd., anticipates a significant increase in net profit for the first half of 2025, projecting a year-on-year growth of approximately 121.13% [2][3]. Performance Forecast - The company expects to achieve a net profit attributable to shareholders of approximately 463 million yuan for the first half of 2025, an increase of about 253.62 million yuan compared to the same period last year [2][3]. - The net profit after deducting non-recurring gains and losses is projected to be around 443 million yuan, reflecting a year-on-year increase of approximately 134.99% [2][3]. Previous Year Performance - In the same period last year, the total profit was approximately 208 million yuan, with a net profit attributable to shareholders of about 209 million yuan and a net profit after deducting non-recurring gains and losses of around 188 million yuan [5]. Reasons for Profit Increase - The company is capitalizing on the growth opportunities in the Internet of Things (IoT) sector, transitioning from a module supplier to a comprehensive IoT solution provider, which is expected to enhance market coverage and uncover new growth points [7]. - The company anticipates a revenue of approximately 11.45 billion yuan for the first half of 2025, representing a year-on-year growth of about 38.81% [7]. - Management has focused on cost control and efficiency improvements, shifting the business strategy from "scale first" to a balance between "scale and efficiency" [7]. Non-Operating and Accounting Impact - Non-operating gains and losses are not expected to have a significant impact on the company's performance forecast [8]. - Accounting treatments are also not anticipated to have a major influence on the performance forecast [9].

2025.07. 10 7月10日晚间，沪深两市多家上市公司发布公告，以下是第一财经对一些重要公告的汇总，供投资者 参考。 【品大事】 塞力医疗：旗下联营企业治疗性降压疫苗项目试验能否成功还存在重大不确定性 塞力医疗(603716)发布股票交易异常波动公告，公司股票连续3个交易日内日收盘价格涨幅偏离值累 计超过20%，属于股票交易异常波动的情形。公司关注到近期市场对创新药业务关注度较高。公司 旗下联营企业华纪元生物是公司于2020年1月投资的参股公司，持有其15.61%的股份，投资金额 1066.6万元，华纪元生物2024年营业收入2.68万元，净利润-238.23万元。其治疗性降压疫苗项目 HJY-ATRQβ-001已完成概念验证（POC）阶段研究和临床前研究，已于2025年6月6日获得国家药 监局（NMPA）的新药临床试验申请（IND）受理，后续还需经一期、二期临床试验，试验能否成功 还存在重大不确定性。上述投资目前对公司主营业务的影响较小，敬请投资者注意相关风险，理性决 策，审慎投资。 人福医药：股东招商生科取得增持股份专项贷款承诺函 人福医药(600079)公告，公司近日收到股东招商生命科技（武汉）有 ...

Core Viewpoint - Multiple listed companies in the Shanghai and Shenzhen markets have released important announcements, highlighting significant developments and performance forecasts that may impact investor decisions [1]. Company Announcements - **Saili Medical**: The therapeutic hypertension vaccine project by its affiliate, Huajiyuan Biotechnology, faces significant uncertainty despite recent market interest in innovative drugs. The company holds a 15.61% stake in Huajiyuan, which reported a revenue of 26,800 yuan and a net loss of 2,382,300 yuan for 2024 [3]. - **Renfu Pharmaceutical**: Shareholder,招商生科, has secured a loan commitment of up to 750 million yuan from招商银行武汉分行 to increase its stake in Renfu Pharmaceutical. The planned share buyback will occur within six months starting from July 3, 2025, with a maximum purchase price of 25.53 yuan per share [4]. - **China Merchants Energy Shipping**: The company has received a new multi-purpose heavy-lift vessel, "Mingshi," as part of its order for four eco-friendly vessels. The fleet now includes 102 operational bulk carriers, with 16 vessels on order for future delivery [5]. - **Shangwei New Materials**: The company announced a significant stock price fluctuation, with a 30% increase over two days. A share transfer agreement was signed, potentially changing the controlling shareholder to Zhiyuan Hengyue, pending shareholder approval [6]. - **Northern Rare Earth**: The trading price for rare earth concentrates has been adjusted to 19,109 yuan per ton for Q3 2025, based on market conditions [7]. - **Baotou Steel**: Similar to Northern Rare Earth, Baotou Steel has proposed an adjustment of the rare earth concentrate trading price to 19,109 yuan per ton for Q3 2025 [9]. - **Shanghai Mechanical & Electrical**: The company received approval from the Shanghai State-owned Assets Supervision and Administration Commission for the transfer of 51.137 million shares from its controlling shareholder, Shanghai Electric, without changing control [10]. Performance Forecasts - **Eyer Communication**: The company expects a net profit of approximately 463 million yuan for the first half of 2025, a year-on-year increase of about 121.13%, driven by growth in the IoT sector [12]. - **Tianbao Infrastructure**: The company forecasts a net profit of 90 million to 130 million yuan for the first half of 2025, representing a year-on-year increase of 1581.8% to 2329.27% due to tax recoveries [13]. - **China Shipbuilding**: The expected net profit for the first half of 2025 is between 2.8 billion and 3.1 billion yuan, reflecting a year-on-year increase of 98.25% to 119.49% due to improved production efficiency and order structure [14]. - **Shanghai Xiba**: The company anticipates a net profit of 99 million to 118 million yuan for the first half of 2025, a year-on-year increase of 136.47% to 181.85%, primarily due to non-recurring income [15]. - **Longyuan Technology**: The expected net profit for the first half of 2025 is between 26 million and 31 million yuan, reflecting a year-on-year increase of 116.61% to 158.26% [16]. - **Zhengbang Technology**: The company forecasts a net profit of 190 million to 210 million yuan for the first half of 2025, marking a return to profitability driven by increased pig sales [17][18]. - **Bolong Technology**: The expected net profit for the first half of 2025 is between 22 million and 28 million yuan, a year-on-year increase of 123.09% to 183.93% due to successful project deliveries [19]. - **Haitou Shares**: The company anticipates a net profit of approximately 380 million yuan for the first half of 2025, a year-on-year increase of about 233.10% due to favorable market conditions [20]. - **Chuangjiang New Materials**: The expected net profit for the first half of 2025 is between 24 million and 29 million yuan, reflecting a year-on-year increase of 42.35% to 72% [21]. - **Hudian Shares**: The company forecasts a net profit of between 1.65 billion and 1.75 billion yuan for the first half of 2025, a year-on-year increase of 44.63% to 53.4% [22]. - **Taiping Bird**: The company expects a net profit of around 77.7 million yuan for the first half of 2025, a decrease of approximately 55% due to declining retail performance [23]. - **China Satellite**: The company anticipates a loss of between 21.2 million and 41.2 million yuan for the first half of 2025, attributed to reduced contract fulfillment and increased operational costs [24]. - **ST Yatai**: The company expects a loss of between 12.6 million and 20.9 million yuan for the first half of 2025, primarily due to cash flow issues and increased non-recurring expenses [25]. Major Contracts - **Bai Da Group**: The company signed a significant leasing contract for the Hangzhou Department Store, with a rental agreement of 375 million yuan per quarter, increasing by 4.5% every three years [26]. Shareholding Changes - **Baoshui Technology**: A major shareholder plans to reduce their stake by up to 1% through market transactions between August 4 and November 3, 2025 [28].

Core Viewpoint - The company, Shanghai Yiyuan Communication Technology Co., Ltd., anticipates significant growth in net profit for the first half of 2025, projecting a year-on-year increase of approximately 121.13% [1][2]. Financial Performance Summary - The estimated net profit attributable to the parent company for the first half of 2025 is around 463 million yuan, an increase of approximately 253.62 million yuan compared to the same period last year [1][2]. - The estimated net profit after deducting non-recurring gains and losses is around 443 million yuan, reflecting an increase of approximately 254.48 million yuan year-on-year, which corresponds to a growth rate of about 134.99% [1][2]. Business Development Factors - The company has shifted from being a module supplier to a comprehensive IoT solution provider, capitalizing on the growth opportunities presented by the acceleration of 5G and AI technologies [1]. - The diversification of business operations has enhanced market coverage and identified new growth points, with a focus on balancing scale and efficiency in operations [1]. Non-Operating and Accounting Impact - Non-operating gains and losses have not had a significant impact on the company's performance forecast [1][2]. - Accounting treatments have also not significantly influenced the performance forecast [1][2]. Other Influences - There are no other significant factors affecting the performance forecast [2].

证券代码：603236 证券简称：移远通信 公告编号：2025-039 上海移远通信技术股份有限公司 2025 年半年度业绩预告 2025 年 1 月 1 日至 2025 年 6 月 30 日。 （二）业绩预告情况 经财务部门初步测算，预计 2025 年半年度实现归属于母公司所有者的净利 润为 46,300 万元左右，与上年同期相比，预计增加约 25,362.46 万元，同比增 长约 121.13%。 本期业绩预告适用于实现盈利，且净利润与上年同期相比上升 50%以上 的情形。 上海移远通信技术股份有限公司（以下简称"公司"）预计 2025 年半 年度实现归属于母公司所有者的净利润为 46,300 万元左右，与上年同 期相比，预计增加约 25,362.46 万元，同比增长约 121.13%。 扣除非经常性损益事项后，公司预计 2025 年半年度实现归属于母公司 所有者的扣除非经常性损益后的净利润为 44,300 万元左右。与上年同 期相比，预计增加约 25,447.94 万元，同比增长约 134.99%。 预计 2025 年半年度实现归属于母公司所有者的扣除非经常性损益后的净利 润为 44,300 万元左右。 ...

移远通信：上半年净利预增121.13% 智通财经7月10日电，移远通信(603236.SH)公告称，移远通信预计2025年半年度归属于母公司所有者的 净利润为4.63亿元，同比增长约121.13%。扣除非经常性损益后的净利润为4.43亿元，同比增长约 134.99%。报告期内，公司紧抓5G、AI技术加速渗透带来的物联网行业发展机遇，从模组供应商向全球 物联网综合解决方案供应商转型，多元化业务布局拓宽市场覆盖，带动营业收入同比增长约38.81%。 ...

移远通信：预计2025年上半年净利润同比增长约121.13% 金十数据7月10日讯，移远通信公告，预计2025年半年度实现归属于母公司所有者的净利润为4.63亿元 左右，与上年同期相比，预计增加约2.54亿元，同比增长约121.13%。预计2025年半年度实现归属于母 公司所有者的扣除非经常性损益后的净利润为4.43亿元左右。与上年同期相比，预计增加约2.54亿元， 同比增长约134.99%。 ...

Group 1 - The company held its sixth meeting of the fourth board of directors on July 8, 2025, with all five directors present, and the meeting was conducted in accordance with relevant laws and regulations [2][5]. - The board approved multiple resolutions, including the revision of the company's articles of association, which will be submitted to the shareholders' meeting for approval [3][4]. - The board also approved the revision of various governance documents, including the rules for shareholder meetings, board meetings, and the implementation details for various committees [6][9][12]. Group 2 - The sixth meeting of the fourth supervisory board was held on July 8, 2025, with all three supervisors present, and the meeting complied with legal requirements [53][56]. - The supervisory board approved a resolution to abolish the supervisory board, transferring its powers to the audit committee of the board, which will not affect the company's internal supervision [55][61]. - The company will revise its articles of association and related governance documents to reflect the cancellation of the supervisory board [60][62].