Core Viewpoint - The company, Langdi Group, has announced its 2025 semi-annual report and will hold a performance briefing to discuss its financial results and operational status with investors [5][7]. Group 1: Company Overview - Langdi Group is preparing to disclose its 2025 semi-annual report, which includes important financial data and operational results [4]. - The report has not been audited, and the board of directors guarantees the accuracy and completeness of the report's content [2][5]. Group 2: Financial Data - The company has no profit distribution or capital reserve transfer plan for the first half of 2025 [3]. Group 3: Important Events - A performance briefing is scheduled for September 4, 2025, from 15:00 to 16:00, to facilitate communication with investors [6][8]. - Investors can submit questions prior to the briefing through designated online platforms [6][8].

Core Insights - The company reported a revenue of 1.06 billion yuan for the first half of 2025, representing a year-on-year growth of 7.05% [1] - The net profit attributable to shareholders decreased by 5.50% to 90.67 million yuan [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses increased by 0.64% to 83.09 million yuan [1] - The basic earnings per share stood at 0.49 yuan [1]

Financial Performance - The company's operating revenue for the first half of 2025 was CNY 1,059,824,038.08, representing a 7.05% increase compared to CNY 990,063,312.20 in the same period last year[21]. - The total profit for the first half of 2025 decreased by 7.77% to CNY 103,738,096.51 from CNY 112,475,287.62 in the previous year[21]. - The net profit attributable to shareholders of the listed company was CNY 90,667,361.75, down 5.50% from CNY 95,944,781.18 in the same period last year[21]. - The basic earnings per share for the first half of 2025 were CNY 0.49, a decrease of 5.77% compared to CNY 0.52 in the same period last year[22]. - The weighted average return on net assets decreased by 0.93 percentage points to 6.85% from 7.78% in the previous year[22]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion CNY for the first half of 2025, representing a 20% year-over-year growth[68]. - Net profit for the first half of 2025 was ¥89,903,528.49, a decrease of 5.1% from ¥95,235,590.78 in the same period last year[99]. - The company reported a total profit of ¥103,738,096.51 for the first half of 2025, down from ¥112,475,287.62 in the same period of 2024[99]. Cash Flow and Assets - The net cash flow from operating activities significantly decreased by 92.46% to CNY 4,976,828.29, primarily due to increased payments for goods and taxes[23]. - The company's cash and cash equivalents at the end of the period amounted to RMB 291.54 million, accounting for 10.79% of total assets, reflecting a 13.85% increase from the previous year[45]. - Accounts receivable increased by 23.05% to RMB 782.27 million, mainly due to an increase in unsettled sales payments[45]. - The total assets at the end of the reporting period were CNY 2,700,765,098.70, an increase of 8.46% from CNY 2,490,066,848.83 at the end of the previous year[21]. - The total current assets as of June 30, 2025, amounted to RMB 1,680,005,151.63, an increase from RMB 1,466,981,420.62 as of December 31, 2024, reflecting a growth of approximately 14.5%[89]. - Cash and cash equivalents reached RMB 291,537,831.69, up from RMB 256,073,066.06, indicating a growth of about 13.9%[89]. - The net cash flow from operating activities for the first half of 2025 was ¥4,976,828.29, a significant decrease from ¥66,008,380.32 in the first half of 2024[104]. Investments and R&D - The company added 26 new patent authorizations in the first half of 2025, bringing the total to 626 effective patents[35]. - The company is advancing the industrialization of EC permanent magnet brushless motors, with small batch production of motors above 1kW already achieved[36]. - The company is collaborating with Zhejiang University to establish a joint R&D center for robotic joint motor modules, focusing on various advanced technologies[37]. - The company plans to invest RMB 110 million in its Thailand production base, with a designed capacity of 12.7 million air conditioning fan blades per year, aiming to enhance overseas revenue growth and respond quickly to local customer demands[38]. - The company is actively pursuing strategic partnerships to enhance its technological capabilities, with an investment of 200 million CNY allocated for R&D in the next fiscal year[68]. - Research and development expenses for the first half of 2025 were ¥47,754,828.54, slightly up from ¥46,334,978.29 in the previous year[98]. Shareholder and Equity Information - The company has no plans for profit distribution or capital reserve transfer to increase share capital for the first half of 2025[6]. - The company distributed a cash dividend of RMB 74.18 million for the 2024 fiscal year, representing 43.08% of the net profit attributable to shareholders, continuing its trend of stable returns since its IPO in 2016[38]. - The total equity attributable to the parent company at the end of the period is CNY 1,311,475,362.79, compared to CNY 1,216,314,052.02 at the end of the previous year, reflecting an increase of approximately 7.83%[113]. - The total owner's equity at the end of the current period is CNY 1,215,838,978.76, up from CNY 732,537,549.12 at the end of the previous year, indicating a significant increase of approximately 65.8%[115]. - The largest shareholder, Gao Yankang, holds 97,508,336 shares, representing 52.52% of the total shares[82]. - The second-largest shareholder, Li Fengquan, has a holding of 8,302,465 shares, which is 4.47% of the total shares[82]. Risks and Governance - There are no significant risks or non-operating fund occupation by controlling shareholders reported[8]. - The company has a high customer concentration risk due to the concentrated nature of the downstream air conditioning industry, which may impact sales if major customers reduce orders[56]. - The company faces risks related to high accounts receivable balances, which could lead to increased bad debts if customers experience financial difficulties[57]. - The management has emphasized the importance of maintaining strong corporate governance and transparency, with no reported instances of misconduct or financial irregularities[70]. - There are no significant legal disputes or regulatory issues reported during the current period, ensuring a stable operational environment[70]. Accounting Policies and Financial Reporting - The financial statements are prepared based on the going concern principle, with no significant doubts about the company's ability to continue operations in the next 12 months[121]. - The company adheres to the accounting standards for enterprises, ensuring that the financial statements reflect a true and complete picture of its financial status[123]. - The company recognizes control over investees through participation in relevant activities, enjoying variable returns and the ability to influence the amount of those returns[130]. - Financial assets are classified into three categories upon initial recognition: measured at amortized cost, measured at fair value with changes recognized in other comprehensive income, and measured at fair value with changes recognized in profit or loss[133]. - The company ensures that all financial instruments are accounted for in accordance with the applicable accounting standards, ensuring accurate financial reporting[137]. Revenue Recognition - Revenue recognition principles require assessment of contracts to identify performance obligations and determine if they are fulfilled over time or at a point in time[187]. - Revenue is measured based on transaction prices allocated to performance obligations, excluding amounts collected on behalf of third parties[189]. - The company primarily sells household air conditioning components, with revenue recognition occurring at the point of sale[189].

证券代码：603726 证券简称：朗迪集团 公告编号：2025-029 浙江朗迪集团股份有限公司 关于召开 2025 年半年度业绩说明会的公告 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法律责任。 重要内容提示： 一、 说明会类型 浙江朗迪集团股份有限公司（以下简称"公司"）已于 2025 年 08 月 29 日 在上海证券交易所网站（www.sse.com.cn）披露了《朗迪集团 2025 年半年度报 告全文》及《朗迪集团 2025 年半年度报告摘要》。为便于广大投资者更全面深 入地了解公司 2025 年半年度经营成果、财务状况，公司计划于 2025 年 09 月 04 日（星期四）15:00-16:00 在"价值在线"（www.ir-online.cn）举办浙江朗迪 集团股份有限公司 2025 年半年度业绩说明会，与投资者进行沟通和交流，广泛 会议召开时间：2025 年 09 月 04 日(星期四)15:00-16:00 会议召开地点：价值在线（www.ir-online.cn） 会议召开方式：网络互动方式 会议问题征集：投资者 ...

Core Viewpoint - The home appliance components sector experienced a slight decline of 0.35% on August 20, with Hai Li Co. leading the drop, while the overall market indices showed positive performance with the Shanghai Composite Index rising by 1.04% and the Shenzhen Component Index increasing by 0.89% [1] Group 1: Market Performance - The home appliance components sector's decline was noted at 0.35% [1] - The Shanghai Composite Index closed at 3766.21, up 1.04% [1] - The Shenzhen Component Index closed at 11926.74, up 0.89% [1] Group 2: Individual Stock Performance - Hongchang Technology (301008) saw a significant increase of 20.02%, closing at 30.64 with a trading volume of 198,200 shares and a transaction value of 556 million [1] - Chunguang Technology (603657) increased by 9.07%, closing at 42.21 with a trading volume of 90,800 shares and a transaction value of 374 million [1] - Huaxiang Service (603112) rose by 6.83%, closing at 18.93 with a trading volume of 347,700 shares and a transaction value of 655 million [1] - Other notable performers included Langdi Group (603726) up 3.65%, Zhucheng Technology (301280) up 1.99%, and Xiangqiang Co. (300160) up 1.76% [1] Group 3: Capital Flow - The home appliance components sector experienced a net outflow of 1.046 billion from main funds, while retail investors contributed a net inflow of 716 million [3] - Speculative funds saw a net inflow of 330 million into the sector [3]

Investment Overview - Zhejiang Langdi Group Co., Ltd. has approved an investment plan to establish a production base in Thailand with a maximum investment amount of RMB 110 million, which includes land purchase and fixed asset construction [2] - The company has completed the establishment registration of Langdi Impeller Machinery (Thailand) Co., Ltd. in November 2024 [2] - In January 2025, the company received the overseas investment certificate and project filing notice from relevant authorities [3] Investment Progress Capital Increase - Langdi Thailand has received an investment approval certificate from the Thailand Board of Investment, and the registered capital has been increased from 5 million THB to 57.5 million THB [4] - The company holds 90% of the shares through its wholly-owned subsidiary Langdi (Singapore) Impeller Machinery Pte. Ltd. and 10% through Langdi (Hong Kong) Impeller Machinery Co., Limited [4] Land Purchase Agreement - The company signed a land sale agreement to purchase industrial land in Chonburi Province, Thailand, covering an area of approximately 10 rai (about 24 acres) [5] - The total price for the land is 43 million THB, with a 50% deposit of 21.5 million THB due within 7 days of signing the contract, and the remaining amount payable upon transfer of ownership [6]

Group 1 - The stock price of Landy Group closed at 19.17 yuan on August 19, 2025, down by 0.04 yuan, a decrease of 0.21% from the previous trading day [1] - The company has a total market capitalization of 3.559 billion yuan and a price-to-earnings ratio of 23.79 times [1] - Landy Group is primarily engaged in the research, production, and sales of household air conditioning fan blades and mechanical fans, with products widely used in household and commercial air conditioning and ventilation equipment [1] Group 2 - The company announced significant progress in its Thailand production base project, with its wholly-owned subsidiary increasing registered capital to 57.5 million Thai Baht and successfully acquiring 24 acres of industrial land for 43 million Thai Baht [1] - The total investment for the Thailand project is not expected to exceed 110 million yuan, with preliminary work such as overseas investment filing completed since the project started in September 2024 [1] - In the first quarter of 2025, the company achieved operating revenue of 470 million yuan and a net profit of 37.41 million yuan [1] Group 3 - On August 19, 2025, the net outflow of main funds was 12.64 million yuan, accounting for 0.36% of the circulating market value [1] - Over the past five trading days, the cumulative net outflow reached 84.86 million yuan, representing 2.4% of the circulating market value [1]

Core Points - The company announced plans to invest in a new production base in Thailand, with a maximum investment amount of 110 million RMB [1] - The investment will cover land purchase and construction of fixed assets, with actual investment subject to approval from Chinese and local authorities [1] - The management team is authorized to develop and implement specific plans for the investment, including establishing a subsidiary in Thailand and signing relevant agreements [1] Investment Details - The establishment of "Randall Turbine Machinery (Thailand) Co., Ltd." was completed in November 2024 [1] - The company received necessary investment certificates and project registration notifications from relevant authorities in Ningbo by January 2025 [1] - A land sale agreement has recently been signed for the new production base [1]

证券代码：603726 证券简称：朗迪集团 编号：2025-028 浙江朗迪集团股份有限公司 关于投资建设泰国生产基地的进展公告 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。 一、对外投资概述 浙江朗迪集团股份有限公司（以下简称"公司"）于2024年9月20日召开了第七届 董事会第十二次会议，审议通过了《关于拟投资建设泰国生产基地的议案》，同意在泰 国投资新建生产基地，该项目计划投资金额不超过人民币1.1亿元，包括但不限于购买 土地、购建固定资产等相关事项，实际投资金额以中国及当地主管部门批准金额为准； 授权公司经营管理层及其合法授权人员就泰国生产基地投资事项制定与实施具体方案、 申请投资备案登记、设立泰国子公司及海外结构搭建、签署土地购买等相关协议或文 件，及办理其他与本事项相关的一切事宜。具体内容详见公司2024年9月21日在上海证 券交易所网站（www.sse.com.cn）披露的《朗迪集团关于拟投资建设泰国生产基地的 公告》（公告编号：2024-046）。 2024年11月，公司完成朗迪叶轮机械(泰国)有限公司（以下 ...

Investment Rating - The report initiates coverage with a "Buy" rating for the company [4] Core Views - The company is a leading player in the domestic fan blade and mechanical fan industry, with a robust product line and a strong market position, benefiting from the "home appliance replacement" policy in 2024, which is expected to significantly boost the sales volume of its air conditioning fan blade products [2] - The establishment of a new production base in Thailand with an investment of 110 million yuan is anticipated to enhance the company's overseas market share, targeting a production capacity of 12.7 million air conditioning fan blades per year [2] - The company has made significant technological advancements in mechanical fans, particularly in the core components, which are expected to expand its downstream application scenarios [2] - The company has strategically entered the semiconductor sector, becoming the second-largest shareholder of Yongxi Electronics, with a 7.59% stake, and has significant indirect holdings in leading NAND and DRAM manufacturers, indicating substantial growth potential [3] - The company is also actively pursuing acquisitions in the new materials sector, such as the proposed acquisition of a stake in Ningbo Jujia Technology, which is expected to strengthen its supply chain and expand into emerging fields [10] Financial Summary - Revenue projections for 2025-2027 are 2.18 billion, 2.49 billion, and 2.84 billion yuan, respectively, with corresponding net profits of 192 million, 228 million, and 264 million yuan, indicating a steady growth trajectory [4] - The company is expected to achieve a net profit growth rate of 57.16% in 2024, followed by 11.27% and 19.00% in the subsequent years [5] - The projected PE ratios for 2025-2027 are 18.62, 15.64, and 13.52, reflecting an attractive valuation as the company grows [4]