Group 1 - The company Jack Co., Ltd. (stock code 603337) will change its stock abbreviation from "Jack Co., Ltd." to "Jack Technology" starting from September 10, 2025 [1]

Core Viewpoint - The company will change its stock name from "Jack Shares" to "Jack Technology" on September 10, 2025, while maintaining the stock code "603337" to better reflect its development strategy and business layout [1] Company Transformation - The company has transitioned from being a single sewing equipment manufacturer to a provider of intelligent manufacturing software systems and services [1] - The company plans to launch high-end intelligent products, including a high-end AI sewing machine scheduled for release in the second half of 2025 [1]

Company Overview - Jack Technology Co., Ltd. is located in Taizhou, Zhejiang Province, and was established on August 27, 2003. The company went public on January 19, 2017. Its main business involves the research, production, and sales of industrial sewing machinery, including industrial sewing machines, cutting tables, and fabric spreading machines, as well as important components like motors and electronic controls [1]. Financial Performance - For the first half of 2025, Jack achieved operating revenue of 3.373 billion yuan, representing a year-on-year growth of 4.27%. The net profit attributable to shareholders was 477 million yuan, showing a year-on-year increase of 14.57% [2]. - Since its A-share listing, the company has distributed a total of 1.402 billion yuan in dividends, with 752 million yuan distributed over the past three years [2]. Stock Performance - As of September 4, Jack's stock price was 46.66 yuan per share, with a market capitalization of 22.230 billion yuan. The stock has increased by 55.61% year-to-date, but has seen a decline of 3.81% over the last five trading days [1]. - The stock's trading volume on September 4 was 93.2058 million yuan, with a turnover rate of 0.42%. The net outflow of main funds was 5.911 million yuan [1]. Shareholder Information - As of June 30, 2025, the number of shareholders for Jack was 10,000, an increase of 13.42% from the previous period. The average circulating shares per person decreased by 12.19% to 46,995 shares [2]. - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited ranked as the fourth largest, holding 15.5558 million shares, an increase of 1.6101 million shares from the previous period [2].

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].

证券日报网讯 9月1日晚间，杰克股份发布公告称，截至2025年8月31日，公司通过集中竞价交易方式已 累计回购股份4，872，678股，占目前公司总股本的比例为1.0228%。 （文章来源：证券日报） ...

关于股份回购进展公告 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： | 回购方案首次披露日 | 2025/4/8 | | --- | --- | | 回购方案实施期限 | 待董事会审议通过后 12 个月 | | 预计回购金额 | 7,500万元~15,000万元 | | 回购用途 | □减少注册资本 √用于员工持股计划或股权激励 | | | □用于转换公司可转债 □为维护公司价值及股东权益 | | 累计已回购股数 | 4,872,678股 | | 累计已回购股数占总股本比例 | 1.0228% | | 累计已回购金额 | 131,061,568.56元 | | 实际回购价格区间 | 24.60元/股~31.94元/股 | 一、回购股份的基本情况 杰克科技股份有限公司（以下简称"公司"）于 2025 年 4 月 7 日召开第六届 董事会第二十次会议，审议通过了《关于以集中竞价交易方式回购公司股份的议 案》，同意公司使用自有资金以集中竞价交易方式回购公司股份用于股权激励， 回购价格不超过人民币 37 元/股（含） ...

Investment Rating - The report assigns an "Overweight" rating to the mechanical manufacturing industry [6]. Core Insights - The report highlights the rapid development opportunities for agricultural robots driven by AI, as outlined in the State Council's recent policy [6]. - The commencement of the Jinhuo Technology project for high-end machine tools and automation production lines marks a significant step towards domestic high-end machine tool production [6]. - Collaboration between General Technology and Siemens in the machine tool sector is expected to enhance technological synergies and regional resource sharing [6]. Summary by Sections Market Performance - From August 25 to August 29, the mechanical equipment index increased by 1.15%, underperforming compared to the CSI 300 index, which rose by 2.23% [9]. - Year-to-date, the mechanical equipment index has gained 33.69%, outperforming the CSI 300 index's 17.70% increase [11]. Key Developments - The State Council's policy on "AI+" aims to accelerate the digital transformation of agriculture, promoting the development of smart agricultural machinery, including robots [6]. - The Jinhuo Technology project, with an annual production capacity of 3,000 high-end machine tools, is set to establish a precision machine tool manufacturing base in Fuyang Economic and Technological Development Zone [6]. - The collaboration between General Technology and Siemens focuses on core needs in machine tools and servo automation, aiming for high-quality development in the Asia-Pacific region [6]. Sub-industry Data - In July 2025, the production of industrial robots reached 63,740 units, marking a 24% year-on-year increase [45]. - The output of metal cutting machine tools in July 2025 was 71,000 units [43]. Company Recommendations - For humanoid robots, recommended companies include Hengli Hydraulic, Best, Changsheng Bearing, Zhaowei Electric, Mingzhi Electric, Top Group, Jiechang Drive, Mannester, and Shuanghuan Transmission [6]. - In the engineering machinery sector, recommended companies are Hengli Hydraulic, Sany Heavy Industry, XCMG, and Zoomlion [6]. - For the export chain, recommended companies include Honghua Digital Technology, Juxing Technology, Jack Shares, and Taotao Vehicle [6].