Investment Rating - The investment rating for the company is "Accumulate" [1] Core Views - The company reported strong resilience in Q2 performance, with AI and sewing intelligence opening up growth opportunities [2] - The company achieved revenue of 3.373 billion yuan in H1 2025, a year-on-year increase of 4%, with Q2 revenue at 1.580 billion yuan, down 2% year-on-year [3] - The domestic sales were weak, with a year-on-year decline of approximately 30-35% in the sewing equipment market, while the company’s domestic revenue decreased by 11%, outperforming the industry benchmark [3] - The overseas market saw a 20% increase in industrial sewing machine exports, with the company’s overseas revenue rising by 23% year-on-year [3] - The gross profit margin is on a rapid upward trend, with a sales gross margin of 34.07% in H1 2025, up 2.26 percentage points year-on-year [4] - The company is focusing on high-end AI sewing machines and humanoid robots, with plans to launch its high-end AI sewing machine in the second half of 2025 [5] - Revenue forecasts for 2025-2027 have been adjusted to 6.709 billion, 7.659 billion, and 9.041 billion yuan, respectively, with net profit forecasts adjusted to 972 million, 1.142 billion, and 1.392 billion yuan [6]

证券代码：603337 证券简称：杰克股份 公告编号：2025-056 杰克科技股份有限公司 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： ? 变更后的股票证券简称：杰克科技， 股票证券代码"603337"保持不变 ? 证券简称变更日期：2025 年 9 月 10 日 杰克科技股份有限公司（以下简称"公司"）于 2025 年 8 月 26 日召开第六届 董事会第二十三次会议，审议通过了《关于拟变更证券简称的议案》，同意将公司 证券简称由"杰克股份"变更为"杰克科技"，公司证券代码"603337"保持不变。 具体详见公司于 2025 年 8 月 28 日在上海证券交易所网站（www.sse.com.cn）披 露的《关于拟变更证券简称的公告》（公告编号：2025-053）。 二、 公司证券简称变更的原因 近年来，公司坚定不移地推进数字化、智能化转型，已从单一的缝制设备制 造商成功转型为一家集 PDM、APS、MES、WMS、人工智能融合一体的智能制造软件 系统，以及服装面辅料智能仓储、智能裁剪、AI 排产吊挂、智 ...

近年来，公司坚定不移地推进数字化、智能化转型，已从单一的缝制设备制 造商成功转型为一家集 PDM、APS、MES、WMS、人工智能融合一体的智能制造软件 系统，以及服装面辅料智能仓储、智能裁剪、AI 排产吊挂、智能缝纫、智能分拣、 数字化成品仓储等软硬件为一体的服装智能制造成套解决方案服务商。公司基于 人工智能等新技术与服装机械工艺、服装智能制造的深度融合，逐步布局开发智 能化高端产品，预计 2025 年下半年发布高端 AI 缝纫机，开创缝纫机行业新品类， 大幅提升智能缝制设备的生产效率。 变更后的股票证券简称：杰克科技， 股票证券代码"603337"保持不变 证券简称变更日期：2025 年 9 月 10 日 证券代码：603337 证券简称：杰克股份 公告编号：2025-056 杰克科技股份有限公司 公司证券简称变更实施公告 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： 一、 公司董事会审议变更证券简称的情况 杰克科技股份有限公司（以下简称"公司"）于 2025 年 8 月 26 日召开第六届 董事会第二十 ...

（原标题：杰克股份(603337.SH)证券简称将自9月10日起变更为"杰克科技"） 智通财经APP讯，杰克股份(603337.SH)发布公告，公司证券简称将自2025年9月10日起由"杰克股份"变 更为"杰克科技"，公司证券代码"603337"保持不变。 ...

杰克股份公告，公司将于2025年9月10日变更证券简称，由"杰克股份"变更为"杰克科技"，股票证券代 码"603337"保持不变。此次变更旨在更好地反映公司发展战略和业务布局，公司已从单一的缝制设备制 造商转型为智能制造软件系统和服务商，推出智能化高端产品，如计划在2025年下半年发布的高端AI 缝纫机。 ...

杰克股份所属申万行业为：机械设备-专用设备-纺织服装设备。所属概念板块包括：人形机器人、工业 互联网、中盘、工业4.0、人工智能等。 今年以来杰克股份已经1次登上龙虎榜，最近一次登上龙虎榜为8月15日。 机构持仓方面，截止2025年6月30日，杰克股份十大流通股东中，香港中央结算有限公司位居第四大流 通股东，持股1555.58万股，相比上期增加161.01万股。广发稳健增长混合A（270002）位居第八大流通 股东，持股555.00万股，相比上期减少195.00万股。招商优势企业混合A（217021）位居第九大流通股 东，持股500.00万股，为新进股东。 资料显示，杰克科技股份有限公司位于浙江省台州市椒江区三甲东海大道东段1008号，成立日期2003年 8月27日，上市日期2017年1月19日，公司主营业务涉及工业缝制机械的研发、生产和销售,包括工业缝 纫机、裁床、铺布机等工业用缝中、缝前设备以及电机、电控等工业缝制机械重要零部件。主营业务收 入构成为：智能工业缝纫机86.87%，智能裁床及铺布机10.21%，衬衫及牛仔智能自动缝制设备2.71%， 其他(补充)0.21%。 责任编辑：小浪快报 9月4日，杰 ...

Market Trends - The domestic market indices showed a decline, with the Shanghai Composite Index closing at 3,813.56, down 1.16% [4] - The New Materials sector index increased by 3.72%, underperforming the ChiNext Index by 4.01% [5] Industry Commentary - The State Council's issuance of the "Artificial Intelligence +" action plan is expected to drive rapid development in AI new materials [5] - The FDA's plan to phase out synthetic food colorings is likely to benefit domestic natural colorant companies due to a surge in demand [8] Company Analysis - **Yara International (000893.SZ)**: The company reported a 48.5% year-on-year increase in revenue to 2.52 billion yuan and a 216.6% increase in net profit to 850 million yuan for H1 2025, driven by rising potassium fertilizer prices and sales [10] - **Jianlong Micro-Nano**: The company achieved a revenue of 378 million yuan in H1 2025, a 0.33% increase year-on-year, with a focus on expanding its product matrix and overseas growth [11] - **Xianlead Intelligent (300450.SZ)**: The company reported a strong rebound in order volume for H1 2025, with revenue expected to grow significantly due to the recovery of the lithium battery sector [14] - **Zhejiang Rongtai (603119.SH)**: The company is focusing on the development of humanoid robots and reported steady growth in its main business [26] - **Qingda Environmental Protection (688501.SH)**: The company’s performance met expectations, with AI applications in the thermal power sector expected to exceed forecasts [29] Investment Recommendations - The AI server market is projected to grow from $125.1 billion in 2024 to $158.7 billion in 2025, with significant growth in China's AI computing market anticipated [5] - Domestic natural colorant companies are recommended for investment due to the expected demand surge from the FDA's synthetic colorant phase-out [8] - Yara International is expected to achieve net profits of 1.89 billion, 2.54 billion, and 3.52 billion yuan from 2025 to 2027, with a corresponding PE ratio of 16, 12, and 9 [10] - Jianlong Micro-Nano is expected to enhance its capabilities through strategic acquisitions and product development [11]

Group 1 - The core viewpoint of the report is that Jack Shares (603337.SH) is rated as a "buy" due to its significant achievements in innovation-driven strategies and leading industry transformation with core products [1] - The company is accelerating its global layout and enhancing local operations to increase its international market share [1] - There are notable advancements in the integration of AI, humanoid robots, and the apparel industry, with expectations to launch a high-end AI sewing machine in the second half of 2025 and humanoid robot products in the second half of 2026, which could open new growth opportunities [1] - The company's profitability is expected to reach new highs due to product structure optimization and regional structural changes, with profit margins projected to continue increasing year-on-year by the second quarter of 2025 [1]

Investment Rating - The investment rating for the company is "Buy-A" (maintained) [1] Core Views - The company achieved a revenue of 3.373 billion yuan in the first half of 2025, representing a year-on-year growth of 4.27%, while the net profit attributable to shareholders was 477 million yuan, up 14.57% year-on-year [5] - The company's innovative strategy has led to significant results, with the launch of several industry-leading products and successful technological upgrades [6] - The company has accelerated its global layout, achieving foreign revenue of 1.785 billion yuan in the first half of 2025, a year-on-year increase of 22.82% [6] - The integration of AI and humanoid robots with the garment industry has made significant progress, with plans to launch high-end AI sewing machines in the second half of 2025 [7] - The company's profitability reached new highs, with net profit margins and gross profit margins improving in the second quarter of 2025 [8] Financial Performance - For the first half of 2025, the company reported a revenue structure breakdown: industrial sewing machines at 2.930 billion yuan (up 4.57% year-on-year), smart cutting beds and spreading machines at 344 million yuan (up 6.10% year-on-year), and shirt and denim intelligent automatic sewing equipment at 91 million yuan (down 8.87% year-on-year) [6] - The company expects net profits for 2025-2027 to be 1.0 billion, 1.38 billion, and 1.524 billion yuan, respectively, with year-on-year growth rates of 23.5%, 37.4%, and 10.6% [11] - The earnings per share (EPS) are projected to be 2.1, 2.9, and 3.2 yuan for 2025, 2026, and 2027, respectively [11] Market Position and Strategy - The company is focusing on high-quality product development and enhancing its international market share through innovative products like the Fast Response King 2.0 and AI sewing machines [11] - The ongoing industrial upgrade in the downstream footwear and apparel industry is a strong driver for the expansion of the sewing equipment market [11] - The company is leveraging digital marketing networks and localized service systems to enhance its overseas operations [6]

Core Insights - On September 1, 2023, brokerage firms provided target prices for listed companies, with significant increases noted for Zhuhai Gree, Anhui Energy, and Fulian Precision, showing target price increases of 54.55%, 42.86%, and 40.28% respectively, all within the battery and power sectors [1]. Group 1: Target Price Increases - Zhuhai Gree (688772) received a target price of 34.00 yuan, reflecting a 54.55% increase [2]. - Anhui Energy (000543) has a target price of 10.30 yuan, indicating a 42.86% increase [2]. - Fulian Precision (300432) was assigned a target price of 21.00 yuan, showing a 40.28% increase [2]. Group 2: Additional Companies with Notable Increases - Double Star New Materials (002585) has a target price of 7.80 yuan, with a 39.78% increase [3]. - Zhonglun New Materials (301565) received a target price of 33.00 yuan, reflecting a 38.36% increase [3]. - Jack Shares (603337) has a target price of 66.00 yuan, indicating a 37.47% increase [3]. Group 3: Brokerage Recommendations - A total of 39 listed companies received brokerage recommendations on September 1, 2023, with Double Star New Materials, China National Freight, and Postal Savings Bank each receiving one recommendation [3]. - Zhonglun New Materials was given a "Buy" rating in its first coverage by Citic Securities [3].