报 告 摘 要 乘势而起：市场新高趋势追踪 触及新高的个股、行业和板块可被视为市场的风向标。越来越多的研究表明动量、趋势跟踪策略的有效性。本报告旨在定期跟踪市场中创新高的个股及其 分布，以追踪市场趋势、把握市场热点。 截至2025年8月22日，上证指数、深证成指、沪深300、中证500、中证1000、中证2000、创业板指、科创50指数250日新高距离分别为0.00%、 0.00%、0.00%、0.00%、0.00%、0.06%、0.00%、0.00%。中信一级行业指数中家电、国防军工、综合、传媒、计算机行业指数距离250日新高较 近，食品饮料、煤炭、房地产、银行、消费者服务行业指数距离250日新高较远。概念指数中，数字货币、万得风电、航天军工、汽车零部件、金属非金 属、汽车、家用电器等概念指数距离250日新高较近。 见微知著：利用创新高个股进行市场监测 截至2025年8月22日，共1606只股票在过去20个交易日间创出250日新高。其中创新高个股数量最多的是机械、医药、电子行业，创新高个股数量占比最 高的是国防军工、有色金属、医药行业。按照板块分布来看，本周制造、科技板块创新高股票数量最多；按照指数分布来看 ...

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected stock price increase of over 15% within the next six months [6]. Core Insights - The company achieved a revenue of 1.473 billion yuan in H1 2025, representing a year-on-year increase of 8.85%, and a net profit attributable to shareholders of 172 million yuan, up 70.98% year-on-year, marking a historical high in profit scale [1]. - The growth in the pre-stressed materials segment is attributed to sales expansion, product structure optimization, and deepening in traditional markets [2]. - The concrete products for rail transit segment saw a significant gross margin of 49.56%, up 22.09 percentage points year-on-year, driven by major high-speed rail projects [3]. - The company is exploring the robot tendon business, leveraging its existing technology in pre-stressed materials, and conducting market research in emerging fields [4]. Financial Summary - For 2025, the company is projected to achieve a net profit of 347 million yuan, with corresponding P/E ratios of 24.80X, 19.49X, and 16.37X for the years 2025, 2026, and 2027 respectively [5]. - Revenue is expected to grow from 3.699 billion yuan in 2025 to 4.886 billion yuan in 2027, with a compound annual growth rate of 21.13% [5]. - The net profit margin is projected to increase from 9.4% in 2024 to 10.8% in 2027, indicating improving profitability [5].

8月19日晚间，银龙股份（603969）发布2025年半年报，上半年公司实现营业收入14.73亿元，同比增长 8.85%；实现归母净利润为1.717亿元，同比增长70.98%；实现扣非归母净利润为1.722亿元，同比增长 71.52%；基本每股收益0.20元。 对于本期营业收入增长，银龙股份在半年报中表示，主要来源于预应力产业。本期预应力产品收入较上 年同期增长8.12%，主要是预应力产品销售量同比增长9.08%。 银龙股份还指出，报告期内，利润总额较上年同期增长74.66%，归母净利润较上年同期增长70.98%， 扣非净利润较上年同期增长71.52%，主要原因是预应力产品、轨道板、轨枕销售量增加以及智能化生 产装备、轨道板配套相关服务、风电塔筒预应力专业张拉业务产生的利润较上年同期增加。 银龙股份表示，通过持续创新与产业协同，公司已发展成为行业领先的预应力材料系统解决方案提供 商，为国家基础设施建设提供专业服务。(燕云) 作为预应力材料行业的龙头企业，银龙股份表示，公司始终坚持双主业驱动、协同新能源赋能的发展战 略，以预应力材料产业和轨道交通用混凝土制品产业为核心支柱，同时积极布局新能源应用与投资领 域，致 ...

据证券之星公开数据整理，近期银龙股份(603969)发布2025年中报。截至本报告期末，公司营业总收入 14.73亿元，同比上升8.85%，归母净利润1.72亿元，同比上升70.98%。按单季度数据看，第二季度营业 总收入8.88亿元，同比上升0.88%，第二季度归母净利润1.02亿元，同比上升67.12%。本报告期银龙股 份盈利能力上升，毛利率同比增幅50.49%，净利率同比增幅57.27%。 本次财报公布的各项数据指标表现尚佳。其中，毛利率24.26%，同比增50.49%，净利率12.24%，同比 增57.27%，销售费用、管理费用、财务费用总计7231.64万元，三费占营收比4.91%，同比增17.74%，每 股净资产3.06元，同比增11.49%，每股经营性现金流0.0元，同比减99.27%，每股收益0.2元，同比增 66.67% | 项目 | 2024年中报 | 2025年中报 | 同比增幅 | | --- | --- | --- | --- | | 营业总收入(元) | 13.53亿 | 14.73亿 | 8.85% | | 归母浄利润（元） | 1亿 | 1.72亿 | 70.98% | | 扣 ...

Investment Rating - The report maintains an investment rating of "Buy-A" for the company [4]. Core Views - The company has demonstrated a strong growth trajectory in the first half of 2025, with a year-on-year increase in revenue of 8.85% to 1.473 billion yuan and a significant rise in net profit of 70.98% to 172 million yuan [1][2]. - The business structure has been optimized, leading to improved profitability across its segments, particularly in high-margin products [2][9]. - The company is positioned as a leading player in the pre-stressed steel materials and high-speed rail slab sectors, with a robust product matrix and a focus on high-value products [9]. Revenue and Profitability - In H1 2025, the pre-stressed materials segment generated revenue of 1.158 billion yuan, accounting for 78.58% of total revenue, while the concrete products segment contributed 213 million yuan, representing 14.45% [2]. - The gross margin for the company improved to 24.26%, up 8.14 percentage points year-on-year, driven by enhanced margins in both pre-stressed materials and concrete products [3]. - The net profit margin for the pre-stressed materials segment was 11.23%, while the concrete products segment achieved a remarkable net profit margin of 20.19% [3]. Cash Flow and Financial Health - The operating cash flow showed significant improvement in Q2 2025, with a net inflow of 106 million yuan, compared to a net outflow of 77.5 million yuan in Q2 2024 [8]. - As of H1 2025, accounts receivable amounted to 2.245 billion yuan, with over 80% being due within one year, indicating a healthy cash collection cycle [8]. Earnings Forecast and Valuation - The company is expected to achieve revenues of 3.519 billion yuan, 4.022 billion yuan, and 4.545 billion yuan for the years 2025, 2026, and 2027, respectively, with year-on-year growth rates of 15.2%, 14.3%, and 13.0% [11]. - Net profit forecasts for the same period are 357 million yuan, 472 million yuan, and 567 million yuan, reflecting growth rates of 51.0%, 31.9%, and 20.3% [11]. - The report sets a 12-month target price of 12.14 yuan, based on a projected PE ratio of 22 times for 2026 [9].

Group 1 - The company Silver Dragon Co., Ltd. reported a revenue of approximately 1.473 billion yuan for the first half of 2025, representing a year-on-year increase of 8.85% [1] - The net profit attributable to shareholders of the listed company was approximately 172 million yuan, showing a significant year-on-year increase of 70.98% [1] - The basic earnings per share reached 0.2 yuan, which is a year-on-year increase of 66.67% [1]

Group 1 - The company has decided to abolish the supervisory board, transferring its responsibilities to the audit committee of the board of directors [2][3] - The current supervisors will be relieved of their positions upon the approval of the shareholders' meeting regarding the cancellation of the supervisory board [3] - The company will revise its articles of association in accordance with legal requirements and the cancellation of the supervisory board [3] Group 2 - The board of directors guarantees the accuracy and completeness of the announcement regarding the cancellation of the supervisory board and the revision of the articles of association [2] - The supervisory board's meeting rules will be abolished following the cancellation [2] - The company expresses gratitude to the current supervisors for their contributions during their tenure [3]

Group 1 - The company is revising its articles of association, changing "shareholders' meeting" to "shareholders' assembly" and making necessary adjustments to the numbering of clauses [1][2] - The revised articles of association require approval from the shareholders' assembly and authorization for the general manager's office to handle business registration changes [1][2] Group 2 - The company will hold its first extraordinary shareholders' meeting of 2025 on September 5, 2025, with both on-site and online voting options available [4][5] - The meeting will discuss several key proposals, including changes to the company's registered capital and the cancellation of the supervisory board [33][36] Group 3 - The company reported a total asset of 4.366 billion yuan and a total liability of 1.717 billion yuan, resulting in a debt-to-asset ratio of 39.33% [40] - The company achieved a revenue of 1.473 billion yuan, representing a year-on-year increase of 8.85%, and a net profit of 172 million yuan, up 70.98% year-on-year [40] Group 4 - The company plans to enhance its governance structure by revising several internal regulations in accordance with the latest legal requirements [2][31] - The company emphasizes shareholder value maximization and has distributed cash dividends amounting to 68.59 million yuan, representing 36.48% of the net profit attributable to shareholders [41][42]

（文章来源：证券日报） 证券日报网讯 8月19日晚间，银龙股份发布公告称，公司将于2025年9月5日召开2025年第一次临时股东 大会。本次股东大会将审议《关于变更公司注册资本的议案》等。 ...

Group 1 - The company, Yinlong Co., announced the approval of its 2025 semi-annual report and summary by the 14th meeting of the fifth supervisory board [2]