公司于 2025 年 8 月 11 日接到控股股东翔宇投资函告，获悉其所持有 本公司的部分股份质押及部分股份解除质押，具体事项如下： | 证券代码：603638 | 证券简称：艾迪精密 | 公告编号：2025-028 | | --- | --- | --- | | 转债代码：113644 | 转债简称：艾迪转债 | | 烟台艾迪精密机械股份有限公司 关于控股股东部分股份质押及部分股份解除质押的公告 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个别及 连带责任。 重要内容提示: 烟台艾迪精密机械股份有限公司（以下简称"公司"）控股股东烟 台翔宇投资有限公司（以下简称"翔宇投资"）持有本公司股份为 146,741,743 股，占公司总股本的 17.66%，其中被质押的股份累计 32,261,500股，占其持有公司股份总数的 21.99%，占公司总股本的 3.88%。 控股股东一致行动人宋飞先生持有本公司股份为 11,342,198 股，占公司总股本的 1.36%，其中被质押的股份累计 5,670,000 股，占其 持有公司股份总数的 49 ...

专题：专题|2024年度A股董秘数据报告：1144位董秘年薪超百万 占比超21% 董秘作为连接投资者与上市公司的"桥梁"，在上市公司资本运作中发挥着关键作用。新浪财经《2024年 度A股董秘数据报告》显示，2024年A股上市公司董秘薪酬合计达40.86亿元，平均年薪75.43万元。 分行业来看，塑料行业董秘薪酬总额4225.63万元，平均年薪64.02万元。 按学历来看，塑料行业董秘学历以本科为主，占比56.06%，其次为硕士，占比34.85%，专科、博士分 别占6.06%、3.03%。 按年龄来看，塑料行业董秘年龄普遍超过（含）40岁，年龄最高的为浙江众成董秘许丽秀，1965年生， 现年60岁。 按职务重合来看，存在董秘兼任CFO情形的上市公司占比24.24%。 按任职时长来看，双象股份沈铭自2007年12月起任公司董秘，至今任职时长接近18年之久。2024年，沈 铭薪酬为33万元，与上年持平，约为同行平均薪酬的一半。 按薪酬高低来看，金发科技董秘戴耀珊薪酬最高，年薪229.07万元，约是行业平均薪酬的3.6倍，上年为 184.9万元，同比增长23.89%。公司经营业绩层面，金发科技2024年营收为605. ...

Market Performance - The engineering machinery sector rose by 0.55% on August 4, with Weiman Sealing leading the gains [1] - The Shanghai Composite Index closed at 3583.31, up 0.66%, while the Shenzhen Component Index closed at 11041.56, up 0.46% [1] Top Gainers - Weiman Sealing (301161) closed at 31.19, up 12.36% with a trading volume of 242,000 shares and a transaction value of 731 million [1] - Shanhai Intelligent (002097) closed at 15.61, up 10.01% with a trading volume of 1,532,800 shares and a transaction value of 2.36 billion [1] - Huadong Heavy Machine (002685) closed at 8.11, up 4.92% with a trading volume of 1,181,100 shares [1] Top Losers - Tietuo Machinery (873706) closed at 25.39, down 4.58% with a trading volume of 69,400 shares [2] - Heng7 Drill Tools (836942) closed at 56.90, down 4.42% with a trading volume of 117,800 shares [2] - Wuxin Suizhuang (835174) closed at 63.13, down 3.88% with a trading volume of 66,900 shares [2] Capital Flow - The engineering machinery sector saw a net inflow of 477 million from main funds, while retail funds experienced a net outflow of 32.95 million [2][3] - Major stocks like Shanhai Intelligent and Weiman Sealing had significant net inflows from main funds, indicating strong institutional interest [3] Individual Stock Analysis - Shanhai Intelligent had a main fund net inflow of 46 million, representing 19.49% of its trading volume, while retail funds saw a net outflow of 22.6 million [3] - Weiman Sealing experienced a main fund net inflow of 55.83 million, accounting for 7.64% of its trading volume, with retail funds also seeing a net outflow [3]

Market Overview - The engineering machinery sector experienced a decline of 1.75% on July 31, with Hengli Drilling leading the drop [1] - The Shanghai Composite Index closed at 3573.21, down 1.18%, while the Shenzhen Component Index closed at 11009.77, down 1.73% [1] Top Performers - Tianyuan Intelligent (603273) saw a significant increase of 10.02%, closing at 21.09 with a trading volume of 218,000 shares and a turnover of 455 million yuan [1] - Southern Road Machinery (603280) also rose by 10.01%, closing at 54.86 with a trading volume of 82,400 shares [1] - Changling Hydraulic (605389) increased by 9.99%, closing at 48.99 with a trading volume of 45,400 shares [1] Underperformers - Hengli Drilling (836942) experienced the largest decline, down 11.39% to 57.90 with a trading volume of 135,500 shares and a turnover of 811 million yuan [2] - Tuoshan Heavy Industry (001226) fell by 9.97%, closing at 40.00 with a trading volume of 109,400 shares [2] - Wuxin Suizhuang (835174) decreased by 7.19%, closing at 64.67 with a trading volume of 87,500 shares [2] Capital Flow - The engineering machinery sector saw a net outflow of 566 million yuan from institutional investors and 196 million yuan from speculative funds, while retail investors contributed a net inflow of 762 million yuan [2][3] - Notable capital flows include Huadong Heavy Machine (002685) with a net inflow of 17.7 million yuan from institutional investors, while Tianyuan Intelligent (603273) had a net outflow of 143 million yuan from institutional investors [3]

Core Viewpoint - As of July 30, 2025, Yantai Eddie Precision Machinery Co., Ltd. (艾迪精密) reported a stock price of 18.28 yuan, reflecting a decline of 1.08% with a trading volume of 49,500 lots and a transaction amount of 90.82 million yuan [1] Financial Performance - For the first quarter of 2025, the company achieved total operating revenue of 770 million yuan, representing a year-on-year growth of 21.88% - The net profit attributable to shareholders was 102 million yuan, an increase of 15.62% year-on-year - The non-recurring net profit was 87.03 million yuan, up by 8.81% year-on-year - The current ratio stood at 1.831, the quick ratio at 1.246, and the debt-to-asset ratio at 46.40% [1] Capital Flow - On the reporting day, the main capital saw a net outflow of 11.30 million yuan, accounting for 12.44% of the transaction amount - Large orders experienced a net outflow of 4.86 million yuan, representing 5.35% of the transaction amount, while small orders had a net inflow of 7.80 million yuan, making up 8.59% of the transaction amount [1] Company Background - Yantai Eddie Precision Machinery Co., Ltd. was established in 2003 and is primarily engaged in the automotive manufacturing industry - The company has a registered capital of 8.31 billion yuan and a paid-in capital of 5.99 billion yuan - The legal representative of the company is Song Fei [1][2] Investment and Intellectual Property - The company has made investments in 10 enterprises and participated in 87 bidding projects - It holds 42 trademark registrations and 381 patents, along with 42 administrative licenses [2]

Investment Rating - The industry investment rating is "Overweight" [12] Core Viewpoints - The commencement of the Yarlung Zangbo River downstream hydropower project is expected to significantly benefit the engineering machinery sector, with a total investment of approximately 1.2 trillion yuan, making it the highest investment project in a single country [5][6] - The project will require a high degree of mechanization, with a projected demand for engineering machinery equipment amounting to about 120 billion yuan, which is estimated to be 10% of the total investment [5][6] - The geological conditions favor the use of tunnel boring machines (TBM), leading to an expected increase in the proportion of TBM construction methods [4][5] Summary by Sections General Engineering Machinery - General engineering machinery such as excavators, cranes, concrete machinery, and aerial work platforms will see increased demand due to the project's construction cycle and local conditions [4] - The demand for larger and electric equipment is anticipated to be higher, reflecting greater profitability for companies [4] Tunnel Boring Machinery - The project will utilize TBM and other drilling equipment, with expectations of more extensive tunnel construction compared to previous projects [4][5] - The average length of tunnels in similar projects has been noted to be around 16.7 kilometers, with the Yarlung Zangbo project expected to have even longer tunnels [4][5] Large Cable Cranes - Large cable cranes will be essential for transporting concrete and installing metal structures in the challenging mountainous terrain [4] Key Beneficiaries - Core companies to focus on include Sany Heavy Industry, XCMG, Zoomlion, LiuGong, and others for general engineering machinery; China Railway Engineering Corporation and others for tunnel boring machinery; and Farlantech for cable cranes [6]

Summary of Eddie Precision's Conference Call Company Overview - Eddie Precision specializes in high-end hydraulic components (main pumps, main valves, travel motors, swing motors) primarily used in excavators, accounting for over 50% of the company's overall business [2][5][6]. Industry Insights - The excavator market experienced a growth rate of approximately 16% in the first half of 2025, while Eddie Precision's high-end hydraulic components grew by 30%-40%, attributed to increased market share among OEMs and enhanced core competitiveness [2][5][6]. - The hydraulic breaker, Eddie Precision's second-largest business segment, constitutes about 35% of the company's operations. Its growth was limited in the first half of 2025 due to low operating rates of large excavators in China, but overseas exports performed well [2][7]. Key Products and Performance - **Travel Motors**: This is Eddie Precision's leading product, with the company being the only domestic supplier to OEMs, resulting in a continuous increase in market share [2][6]. - **Hydraulic Breakers**: These are widely used in mining, municipal engineering, and hydropower projects. The demand for hydraulic breakers is significant, especially in complex geological environments [3][5]. - **Overall Growth**: Hydraulic components saw an overall growth of 30%-40% in the first half of 2025, driven by domestic substitution of imports and increased market share among OEMs [2][6]. Financial Performance - The gross profit margin for hydraulic components and hydraulic breakers was stable at around 30%-32% [12][13]. - The company has faced pressure to reduce prices from OEMs, but has managed to maintain profitability through automation and process improvements [13]. International Expansion - Eddie Precision's overseas sales account for approximately 20%-25%, with major markets including the USA, Russia, the Middle East, India, and Southeast Asia. Caterpillar in the USA is the largest customer, accounting for over 20% of sales [14][15]. - A new factory in Thailand is expected to start production in September or October 2025, aiming to increase overseas sales to 50% within the next three to five years [14]. New Business Ventures - Eddie Precision is incubating new industries, including industrial robots and RV reducers, which previously incurred annual losses of about 50 million yuan but are now showing improvement [8][10]. - The company aims for each new venture to achieve over 100 million yuan in sales and break even [8][9]. - The new products are expected to have a broad customer base across various manufacturing sectors, relying on both distribution and direct sales [17]. Challenges and Future Outlook - The company anticipates continued strong growth in the hydraulic components sector, with expectations of maintaining robust performance in the next couple of years [2][6]. - The focus on automation and process improvements is expected to enhance overall profitability as the company scales up its operations and diversifies its product offerings [13][16].

Core Viewpoint - The article highlights the commencement of the Yarlung Tsangpo River downstream hydropower project, which is China's largest investment in hydropower to date, with a total investment of 1.2 trillion RMB and an installed capacity of 60-81 million kilowatts, equivalent to three Three Gorges dams [1]. Group 1: Project Overview - The Yarlung Tsangpo River downstream hydropower project officially started construction on July 19, with a total investment of 1.2 trillion RMB [1]. - The project will consist of five dams and aims to create a "cascade power station" [1]. Group 2: Construction Challenges - The construction of large-scale hydropower projects, especially under complex geological conditions in high-altitude areas, will face significant challenges such as rock fragmentation, mountain excavation, and tunnel drilling [3]. - There is a continuous and clear demand for reliable and efficient construction machinery in the rock processing phase [3]. Group 3: Company Positioning - Aidi Precision is positioned as a leader in China's hydraulic breaker industry, showcasing significant advantages in rock processing [4]. - The design features of Aidi's tunnel-specific breakers allow for greater flexibility and efficiency in confined spaces [6][7]. Group 4: Product Innovations - Aidi's underwater breakers include automatic sensing functions to prevent air strikes and are equipped with a professional air supply system to ensure operational safety [10]. - The Aidi super-large breaker has a design life of up to 10,000 hours and is particularly suitable for mining operations, effectively utilizing excavator energy while protecting the hydraulic system [13]. Group 5: Industry Outlook - The article suggests a potential recovery in the engineering machinery industry, with improved operating rates and a significant increase in exports [15][18]. - The industry is expected to benefit from a warming domestic demand and a shift towards new energy solutions in engineering machinery and commercial vehicles [19].

Core Viewpoint - The hydraulic motor industry in China is experiencing structural changes, characterized by differentiated import growth and simultaneous increases in export volume and value, reflecting the demand for high-precision and high-reliability products driven by domestic industrial upgrades [1][11]. Industry Overview - Hydraulic motors are key components in hydraulic systems, converting hydraulic pressure into mechanical energy, widely used in various industrial applications such as construction machinery, shipbuilding, and mining [2]. Industry Development History - The hydraulic motor industry in China has evolved through three main stages: the initial phase from 1952 to 1978, the rapid development phase from 1979 to 2000, and the mature and transformative phase from 2000 to present, with significant advancements in technology and production capabilities [4][5]. Industry Status - In the first five months of 2025, China imported 104,400 hydraulic motors, a year-on-year increase of 2.09%, with an import value of 629 million yuan, up 11.84%. Exports reached 929,900 units, growing 12.76%, with an export value of 810 million yuan, up 9.20% [1][11]. - The demand for high-end hydraulic motors is particularly strong in sectors like construction machinery electrification and industrial automation, with local companies making technological breakthroughs in high-end markets [1][11]. Industry Supply Chain - The upstream of the hydraulic motor industry includes raw materials such as steel, castings, and hydraulic oil, while the downstream applications span across various industrial sectors, with construction machinery being the largest application area [7]. Key Enterprises' Performance - The competitive landscape of the hydraulic motor industry features international giants dominating the high-end market, while domestic companies like Hengli Hydraulic and Aidi Precision are gaining market share through cost-effective strategies [15][19]. Industry Development Trends - The industry is undergoing a transformation towards high-end and intelligent products, with advancements in materials and electronic control technologies enhancing performance [21]. - Green manufacturing is becoming a standard, driven by environmental regulations and energy efficiency standards, pushing companies to adopt energy-saving technologies [22][23]. - The globalization of the hydraulic motor industry is shifting from an export-oriented approach to localized development, with companies establishing production bases in countries along the Belt and Road Initiative [24].

| 证 | 证券代码：603638 | 证券简称：艾迪精密 | 公告编号：2025-027 | | --- | --- | --- | --- | | | 转债代码：113644 | 转债简称：艾迪转债 | | 烟台艾迪精密机械股份有限公司 关于部分募集资金投资项目结项的公告 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个别及连带责任。 重要内容提示： ●本次拟结项募集资金投资项目：艾崎精密高端液压件项目。 一、募集资金基本情况 经中国证券监督管理委员会《关于核准烟台艾迪精密机械股份有限公司公 开发行可转换公司债券的批复》（证监许可〔2022〕496 号）核准，烟台艾迪 精密机械股份有限公司（以下简称"公司"）获准公开发行可转换公司债券人 民币 100,000 万元，扣除不包含可抵扣增值税进项税额的承销及保荐费用、会 计师费用、律师费用、资信评级费、信息披露及发行手续费等费用合计人民币 1,598.69 万元，实际募集资金净额为人民币 98,401.31 万元。 本次募集资金到账时间为 2022 年 4 月 21 日，本次募集资金到位 ...