（原标题：23股今日获机构买入评级 5股上涨空间超20%） 23只个股今日获机构买入型评级，11股机构首次关注。 证券时报•数据宝统计显示，今日机构研报共发布23条买入型评级记录，共涉及23只个股。美的集团、 甘肃能源等关注度最高，均有1次机构买入型评级记录。 今日获机构买入型评级个股中，共有6条评级记录中对相关个股给出了未来目标价。以公布的预测目标 价与最新收盘价进行对比显示，共有5股上涨空间超20%，亚翔集成上涨空间最高，6月23日华泰证券预 计公司目标价为38.40元，上涨空间达29.55%，上涨空间较高的个股还有美的集团、淮北矿业等，上涨 空间分别为25.15%、21.10%。 行业来看，电子、计算机等行业最受青睐，均有3只个股上榜机构买入评级榜。电力设备、有色金属等 行业也较受机构关注，分别有2只、2只个股上榜。（数据宝） 机构今日买入型评级记录 | 代码 | 简称 | 机构名称 | 最新评级 | 上次评级 | 预测 | | 最新收盘 | | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | | 目标价（元） | | 价（元） | | ...

Investment Rating - The report maintains an "Overweight" rating for the construction and decoration industry [1] Core Views - Infrastructure investment remains stable, with a focus on water conservancy and cleanroom engineering sectors [1] - The first four months of 2025 saw a 5.8% year-on-year increase in infrastructure investment, with notable growth in water management (30.7%), water transportation (26.9%), and air transportation (13.9%) [10][15] - The report highlights the resilience of the economy despite external pressures, with construction material retail sales showing a significant increase of 9.7% in April [15] Summary by Sections Industry Dynamics - The report notes that the overseas contracting business is expected to benefit from the Belt and Road Initiative, with new contract amounts reaching $76.59 billion, a 22.4% year-on-year increase [2][11] - Companies involved in specialized engineering sectors, energy conservation, and new energy infrastructure are anticipated to see growth opportunities [11] Market Performance - The construction and decoration sector experienced a decline of 0.97% in the week of May 19-23, 2025, while the broader market indices showed smaller declines [5] - The report suggests that the performance of construction companies remains stable, with a focus on state-owned enterprises and local government enterprises for potential valuation recovery [10] Policy and Economic Data - The report emphasizes the importance of proactive macroeconomic policies to support infrastructure investment, with expectations for increased fiscal policy support in the second quarter [10][15] - The construction PMI showed a decline, indicating weaker project expectations, which necessitates close monitoring of funding and policy impacts [10]

Core Points - The stock price of Yaxiang Integration (603929) closed at 28.67 yuan on May 23, 2025, down 1.58% from the previous week [1] - The company has a total market capitalization of 6.117 billion yuan, ranking 14th out of 39 in the professional engineering sector and 2398th out of 5148 in the A-share market [1] Company Announcements - Yaxiang Integration will distribute a cash dividend of 1.00 yuan per share on May 26, 2025 [3] - The total amount of the dividend distribution is 213.36 million yuan [3] - The record date for A-share equity registration is May 23, 2025, with the ex-dividend date and dividend payment date both set for May 26, 2025 [3] Tax Information - Individual shareholders holding unrestricted A-shares for over one year are exempt from personal income tax [1] - For shares held for one year or less, personal income tax will not be withheld [1] - A 10% tax rate will be applied for certain shareholders, including QFII and Shanghai-Hong Kong Stock Connect investors [1]

证券代码：603929 证券简称：亚翔集成 公告编号：2025-021 亚翔系统集成科技（苏州）股份有限公司2024年年度权益分派实施公 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： ? 每股分配比例 A 股每股现金红利1.00元 ? 相关日期 | 股份类别 | 股权登记日 | | 最后交易日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | --- | --- | --- | | Ａ股 | 2025/5/23 | － | 2025/5/26 | 2025/5/26 | | ? 差异化分红送转： 否 一、通过分配方案的股东大会届次和日期 本次利润分配方案经公司2025 年 4 月 8 日的2024年年度股东大会审议通过。 二、分配方案 截至股权登记日下午上海证券交易所收市后，在中国证券登记结算有限责任公司上海分 公司（以下简称"中国结算上海分公司"）登记在册的本公司全体股东。 本次利润分配以方案实施前的公司总股本213,360,000股为基数，每股派发现金红利1.00 元（ ...

证券代码：603929 证券简称：亚翔集成 公告编号：2025-021 亚翔系统集成科技（苏州）股份有限公司2024年年度权益分派实施公 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： 每股分配比例 A 股每股现金红利1.00元 差异化分红送转： 否 一、通过分配方案的股东大会届次和日期 本次利润分配方案经公司2025 年 4 月 8 日的2024年年度股东大会审议通过。 二、分配方案 截至股权登记日下午上海证券交易所收市后，在中国证券登记结算有限责任公司上海分 公司（以下简称"中国结算上海分公司"）登记在册的本公司全体股东。 3. 分配方案： 本次利润分配以方案实施前的公司总股本213,360,000股为基数，每股派发现金红利1.00 元（含税），共计派发现金红利213,360,000.00元。 相关日期 1. 发放年度：2024年年度 2. 分派对象： | 股份类别 | 股权登记日 | 最后交易日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | --- | --- | ...

Core Insights - The company reported a decline in Q1 2025 revenue and net profit, with revenue at 835 million yuan, down 23.83% year-on-year, and net profit at 82 million yuan, down 29.82% year-on-year [1][2] Financial Performance - Q1 revenue decreased to 835 million yuan, primarily due to the completion phase of major projects, particularly the Singapore UMC project, which had recognized revenue exceeding 3.5 billion yuan by the end of last year, with a completion percentage of 81.34% [2] - Q1 net profit was 82 million yuan, with a larger decline than revenue, attributed to an increase in expense ratio to 2.34%, up 0.55 percentage points year-on-year, and asset impairment losses exceeding 15 million yuan compared to an asset impairment gain of 9 million yuan in the same period last year [2] - The comprehensive gross margin for Q1 was 13.35%, up 0.82 percentage points year-on-year, while the net profit margin decreased to 9.82%, down 0.84 percentage points year-on-year [2] Cash Flow and Orders - Q1 operating cash flow net inflow was 910 million yuan, an increase of 244 million yuan year-on-year, mainly due to prepayments received for the Singapore VSMC project, with a cash collection ratio of 232.70%, up 47.40 percentage points year-on-year [3] - The company secured a significant order worth approximately 3.163 billion yuan from VisionPower Semiconductor Manufacturing Company Pte.Ltd. for MEP engineering, indicating strong overseas business capabilities [4] - The total amount of orders on hand by the end of 2024 is expected to be 3.031 billion yuan, with the new order potentially increasing this figure significantly [4] Future Outlook - The company anticipates a positive outlook for both domestic and international projects, maintaining long-term partnerships with key clients in China and actively expanding its customer base [5] - Notable domestic projects include collaborations with Xiamen United Semiconductor, SMIC, and others, while internationally, Micron Technology's advanced packaging plant in Singapore is set to begin operations in 2026, with an investment of approximately 7 billion USD [5]

Investment Rating - The investment rating for the company is "Buy" and is maintained [11]. Core Views - The company reported a decline in revenue and net profit for Q1 2025, with revenue at 835 million yuan, down 23.83% year-on-year, and net profit at 82 million yuan, down 29.82% year-on-year [2][8]. - Despite the decline in revenue, the company has a substantial backlog of orders, with a total order amount of 3.031 billion yuan as of the end of 2024, which is expected to increase significantly with the recent contract win of 3.163 billion yuan from VisionPower Semiconductor Manufacturing Company [13][8]. - The company's cash flow has improved significantly due to advance payments from the VSMC project, with net cash inflow from operating activities reaching 910 million yuan, an increase of 244 million yuan year-on-year [13][8]. Summary by Sections Financial Performance - Q1 2025 revenue was 835 million yuan, a decrease of 23.83% year-on-year; net profit was 82 million yuan, down 29.82% year-on-year; and non-recurring net profit was also 82 million yuan, down 29.95% year-on-year [2][8]. - The comprehensive gross margin for Q1 was 13.35%, an increase of 0.82 percentage points year-on-year, while the net profit margin decreased to 9.82%, down 0.84 percentage points year-on-year [13][8]. Order Backlog and Future Prospects - The company secured a major contract worth approximately 3.163 billion yuan for MEP engineering services, which is expected to enhance its order backlog significantly [13][8]. - The company maintains optimistic prospects for both domestic and international projects, with ongoing collaborations with major semiconductor manufacturers [13][8]. Cash Flow and Financial Health - The company reported a net cash inflow from operating activities of 910 million yuan, reflecting a strong cash position bolstered by advance payments from projects [13][8]. - The asset-liability ratio increased to 60.86%, up 1.72 percentage points year-on-year, indicating a slight increase in financial leverage [13][8].

Core Viewpoint - The medical cleanroom engineering industry in China is experiencing significant growth due to increasing demand from hospitals driven by an aging population and advancements in medical technology. The industry is projected to expand from 6.78 billion yuan in 2013 to 23.518 billion yuan in 2024, indicating a robust growth trajectory [1][6]. Industry Overview - Medical cleanroom engineering involves the design, construction, and management of environments that eliminate airborne particles, harmful gases, and bacteria, ensuring controlled parameters such as temperature, humidity, and cleanliness to provide a safe medical environment [1][6]. - The industry is witnessing an expansion in application areas beyond operating rooms and ICUs to include various medical departments, driven by policy support for healthcare infrastructure development [1][6]. Current Industry Status - The market size of the medical cleanroom engineering industry in China is projected to reach 30 billion yuan by 2028, reflecting ongoing growth due to industry upgrades and technological advancements [6]. - The annual new construction area for medical cleanrooms has increased from 1.5415 million square meters in 2013 to 3.704 million square meters in 2024, with expectations to reach 4.7 million square meters by 2028 [8]. - The average construction price for medical cleanrooms has risen from 4,398.34 yuan per square meter in 2013 to 6,349.41 yuan per square meter in 2024, with a compound annual growth rate of 3.39% [10]. Industry Structure - The medical cleanroom engineering industry in China is characterized by a high degree of marketization and intense competition, with a concentration of major players like Yaxiang Integration, Shenghui Integration, and Sujing Group dominating the mid-to-high-end market [12]. - Many smaller companies focus on low-end markets with limited technical capabilities, leading to fierce price competition [12]. Development Trends - Market demand is expected to continue growing due to increasing healthcare needs and the necessity for high-standard cleanrooms in new and renovated medical facilities [17]. - Technological innovations, such as smart control systems and advanced air filtration technologies, are anticipated to enhance the performance and efficiency of cleanrooms [18]. - The industry is likely to integrate with emerging technologies like artificial intelligence and the Internet of Things, expanding its application scope beyond traditional healthcare settings to include areas like medical device research and rehabilitation centers [20].

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。 亚翔系统集成科技（苏州）股份有限公司（以下简称"公司"）于 2025 年 4 月 24 日召开第六届董事会第七次会议，审议通过了《关于拟注销子公司 的议案》，同意注销全资子公司苏州翔信消防工程有限公司（以下简称"翔 信消防"），并授权经营管理层办理注销事项。本次注销事项不构成关联交 易，也不构成《上市公司重大资产重组管理办法》规定的重大资产重组。根 据《上海证券交易所股票上市规则》、《公司章程》等的相关规定，本次注 销事项在公司董事会审批权限范围内，无需提交股东大会审议。具体情况如 下： 一、注销子公司基本情况 企业名称：苏州翔信消防工程有限公司 证券代码：603929 证券简称：亚翔集成 公告编号：2025-020 亚翔系统集成科技（苏州）股份有限公司 关于拟注销子公司的公告 法定代表人：姚祖骧 成立日期：2018 年 04 月 27 日 经营范围：消防工程施工；消防设施维护、保养；消防器材销售。（依法 须经批准的项目，经相关部门批准后方可开展经营活动） 股权结构：公司 ...

本公司监事会及全体监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。 一、监事会会议召开情况 亚翔系统集成科技（苏州）股份有限公司（以下简称"公司"） 第六届监事会第七次会议于 2025 年 4 月 17 日以书面方式发出会议 通知和会议材料，并于 2025 年 4 月 24 日以现场及通讯会议方式召 开。本次监事会会议应到监事三名，实到监事三名,符合《公司法》 和《公司章程》的规定。会议由监事会主席王富琳先生主持。本次会 议的召开符合《公司法》、《上海证券交易所股票上市规则》等有关法 律、行政法规、部门规章、规范性文件和《公司章程》的规定。会议 决议合法有效。 二、监事会会议经认真审议，情况如下： 证券代码：603929 证券简称：亚翔集成 公告编号：2025-018 亚翔系统集成科技（苏州）股份有限公司 关于第六届监事会第七次会议决议的公告 季报具体内容详见同日披露的《亚翔集成—公司 2025 年第一季 度报告》（公告编号：2025-019）。 特此公告! 亚翔系统集成科技（苏州）股份有限公司监事会 2025 年 4 月 24 日 审议 ...