从资金流向上来看，当日黑色家电板块主力资金净流入3861.49万元，游资资金净流出5086.1万元，散户 资金净流入1224.61万元。黑色家电板块个股资金流向见下表： | 代码 | 名称 | 主力净流入(元) | 主力净占比 游资净流入 (元) | | 游资净占比 散户净流入 (元) | | 散户净占比 | | --- | --- | --- | --- | --- | --- | --- | --- | | 000801 四川九洲 | | -5826.13万 | 4.84% | -4908.84万 | -4.08% | -917.29万 | -0.76% | | 688696 极米科技 | | 4302.48万 | 8.93% | -1684.92万 | -3.50% | -2617.56万 | -5.43% | | 600839 四川长虹 | | 3256.73万 | 3.47% | -1875.33万 | -2.00% | -1381.40万 | -1.47% | | 688609 | 九联科技 | 412.89万 | 2.44% | -764.42万 | -4.52% | 351.53万 | 2.0 ...

天眼查商业履历信息显示，极米科技股份有限公司，成立于2013年，位于成都市，是一家以从事计算 机、通信和其他电子设备制造业为主的企业。企业注册资本7000万人民币，实缴资本7000万人民币。公 司法定代表人为钟波。 通过天眼查大数据分析，极米科技股份有限公司共对外投资了15家企业，参与招投标项目105次，知识 产权方面有商标信息229条，专利信息1039条，此外企业还拥有行政许可18个。 来源：金融界 极米科技最新一期业绩显示，截至2025一季报，公司营业总收入8.10亿元、同比减少1.89%，归属净利 润6263.91万元，同比增长337.45%，扣非净利润5542.42万元，同比增长583.28%，流动比率2.535、速动 比率1.880、资产负债率44.03%。 金融界消息 截至2025年7月31日收盘，极米科技（688696）报收于113.86元，上涨9.78%，换手率 6.03%，成交量4.22万手，成交金额4.82亿元。 资金流向方面，今日主力资金净流入4302.48万元，占比成交额8.93%。其中，超大单净流入2796.92万 元、占成交额5.81%，大单净流入1505.56万元、占成交额3.1 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [3] Core Views - The report indicates significant improvement in performance, with a forecasted revenue of 8.2 billion yuan for Q2 2025, representing a year-on-year increase of 5.4%, and a net profit of 0.26 billion yuan, reflecting a year-on-year increase of 354.6% [10] - The company is expected to benefit from improved domestic market share profitability, sustained high growth in overseas markets, and contributions from automotive and commercial sectors [8] - The forecast for revenue from 2025 to 2027 is 39.8 billion yuan, 46.9 billion yuan, and 53.3 billion yuan respectively, with year-on-year growth rates of 17.0%, 17.6%, and 13.7% [8] Revenue Analysis - The company anticipates a decline in domestic sales for Q2 due to weak domestic demand, while foreign sales are expected to continue double-digit growth [10] - The domestic gross margin is projected to improve to 30%, driven by product mix, chip price reductions, and optimization of solutions [7] Profit Analysis - The net profit margin for Q2 is expected to be 3.2%, with core drivers being the domestic gross margin improvements and stable foreign sales at over 40% [7] - The company forecasts net profits of 3.0 billion yuan, 4.1 billion yuan, and 5.5 billion yuan for 2025 to 2027, with year-on-year growth rates of 150%, 36%, and 35% respectively [8] Financial Projections - Key financial metrics for 2025E include revenue of 39.82 billion yuan, net profit of 301 million yuan, and a P/E ratio of 24.13 [11] - The company expects to achieve a gross margin of 31.7% in 2025, increasing to 34.2% by 2027 [15]

Core Viewpoint - The company, XGIMI Technology, anticipates a revenue of 1.626 billion yuan for the first half of 2025, reflecting a year-on-year growth of 1.63% [1] - The net profit attributable to the parent company is projected to be 88.6622 million yuan, an increase of 84.5619 million yuan compared to the same period last year, representing a year-on-year growth of 2062.33% [1] Financial Projections - Expected revenue for the first half of 2025: 1.626 billion yuan [1] - Year-on-year revenue growth: 1.63% [1] - Expected net profit for the first half of 2025: 88.6622 million yuan [1] - Year-on-year net profit increase: 84.5619 million yuan [1] - Year-on-year net profit growth percentage: 2062.33% [1]

Core Insights - 56 companies listed on the Sci-Tech Innovation Board have released their performance forecasts for the first half of the year, with 41 expecting profit increases, 7 expecting declines, 3 expecting profits, 2 expecting reduced losses, 2 expecting losses, and 1 expecting stable performance [1] Performance Forecast Summary - Among the 56 companies, 78.57% are reporting positive forecasts, with 41 companies expecting profit increases and 3 expecting profits [1] - The median profit increase for 22 companies is over 100%, while 12 companies expect increases between 50% and 100% [1] - The company with the highest expected profit increase is Rongzhi Rixin, with a median increase of 2103.61%, followed by *ST Tianwei and Jimi Technology with expected increases of 2064.85% and 2062.33% respectively [1][3] Industry Performance - The industries with significant profit increases include electronics, biomedicine, and machinery, with 15, 5, and 3 companies respectively reporting over 50% profit growth [1] - The average increase in stock prices for high-growth companies on the Sci-Tech Innovation Board this year is 45.05%, with Nanya New Materials leading at a 120.43% increase [1] Capital Flow Insights - In terms of capital flow, the stocks with significant net inflows over the past five days include Lankai Technology, Lexin Technology, and Hengxuan Technology, with net inflows of 266 million, 108 million, and 54.21 million respectively [2] - Conversely, stocks with high net outflows include Narui Radar, Microchip Biotech, and Crystal Integration, with net outflows of 166 million, 160 million, and 120 million respectively [2]

Group 1: Government Initiatives - The Ministry of Finance announced the establishment of a "Childcare Subsidy Fund" with an initial budget of approximately 90 billion yuan for this year [1][2] - The National Development and Reform Commission is soliciting public opinions on guidelines for government investment funds, emphasizing the need to control investment amounts and promote effective market-government collaboration [2] Group 2: Industry Developments - The China Metal Materials Circulation Association issued a proposal to resist "involution-style competition" in the steel circulation industry, advocating for compliance with laws and encouraging cooperative models in logistics and processing [3] - The Anhui Provincial Department of Industry and Information Technology is seeking opinions on a plan to optimize the non-ferrous metal industry, focusing on enhancing supply chains and promoting high-end, intelligent, and green development [3] Group 3: Market Trends - The sports industry is experiencing a surge in interest, with several sports-related stocks seeing significant gains following the announcement of the "Hunan Super League" and the upcoming World Games in Chengdu [5][6] - The baby and toddler sector is gaining momentum due to the implementation of the childcare subsidy system, with stocks in this sector showing strong performance [7] Group 4: Financial Performance - Nine funds have seen their net values double this year, driven by the ongoing performance of the innovative drug sector, with specific funds reporting returns exceeding 100% [13] - XGIMI Technology expects a revenue of 1.626 billion yuan for the first half of 2025, a year-on-year increase of 1.63%, while Longjiang Electric Power anticipates a revenue of 36.587 billion yuan, up 5.02% year-on-year [9]

Investment Rating - The report maintains a "Buy" rating for the company with a target price of 150.00 RMB [6][4]. Core Views - The company is expected to achieve revenue of 1.626 billion RMB in H1 2025, a year-on-year increase of 1.63%, and a significant increase in net profit attributable to shareholders of 88.66 million RMB, up 84.56 million RMB year-on-year [1][4]. - The company is focusing on vertical integration of "hardware + algorithms + optics" to optimize cost control and enhance the universality of key components, leading to a recovery in profitability [1]. - The company is accelerating its penetration into overseas markets through smart and localized strategies, aiming to capture a larger share of the global mid-to-high-end market [1]. - The automotive optical products have been successfully implemented in various models from clients such as Seres, JAC, and BAIC, indicating potential for growth beyond the retail market [1][3]. Summary by Sections Financial Performance - The company forecasts net profits of 350 million RMB, 404 million RMB, and 447 million RMB for 2025, 2026, and 2027 respectively, representing year-on-year growth of 191%, 15.4%, and 10.8% [4][10]. - The expected EPS for the same years is 5.00 RMB, 5.77 RMB, and 6.39 RMB [4][10]. Market Conditions - The domestic market for smart projectors is under pressure, with a 3.9% decline in sales volume to 2.778 million units and a 2.9% decrease in sales revenue to 4.68 billion RMB in H1 2025 [2]. - Despite the challenges, the company has managed to increase its average selling price by 22.7% year-on-year across major e-commerce platforms [2]. Product Development - The automotive optical products are expected to contribute to revenue starting from H1 2025, although initial depreciation and amortization costs may impact profitability [3]. - The company’s long-standing expertise in projection technology is anticipated to create differentiated advantages in various application scenarios, including automotive and commercial uses [3].

Focus Events - The 20th Central Committee's Fourth Plenary Session will be held in October in Beijing, focusing on the report of work and the formulation of the 15th Five-Year Plan for national economic and social development [1] Macro News - The average interest rate for newly issued commercial housing loans in Q2 2025 is 3.09% [18] - The Ministry of Agriculture and Rural Affairs is guiding the orderly elimination of low-yield dairy cows and enhancing support for large-scale breeding enterprises [18] Company Focus - Feilong Co., Ltd. is expanding into the robotics industry, collaborating with several vehicle manufacturers on product development [20] - Yonghui Supermarket plans to raise up to 3.992 billion yuan through a private placement for store upgrades and logistics improvements [21] - WuXi AppTec is issuing new H-shares at a price of 104.27 HKD per share, aiming to raise approximately 7.7 billion HKD [23] - China Shipbuilding Emergency Response received a warning and a fine of 4 million yuan for information disclosure violations, with its stock being marked as ST [25] - Hongxiang Co., Ltd.'s actual controller has been released on bail [27] - A stock of Upwind New Materials has been suspended for review after a 1083.42% increase in price over 16 trading days [29] - CATL reported a net profit of 30.5 billion yuan for the first half of 2025, a 33% year-on-year increase [31] - XGIMI expects a 2062.33% increase in net profit for the first half of 2025 [33] - Zhiwei Intelligent reported a net profit of 102 million yuan for the first half of 2025, an 80.08% increase [34] - Jinhai Biological reported a net profit of 138 million yuan for the first half of 2025, a 51.52% increase [34] - Lideman is planning to acquire control of Xiansheng Xiangrui [36] - San Chao New Materials is planning a change in control, with stock suspension starting July 31 [36] - Digital Certification will change its controlling shareholder to Beijing Data Group [37] - Jin Orange is planning to acquire 55% of Samit [37] - Taotao Vehicle announced a strategic cooperation agreement with Yushu Technology for market expansion in robotics [38] - China State Construction recently secured 9 major projects totaling 28.33 billion yuan [40] - Yangtze Power plans to invest approximately 26.6 billion yuan in the Gezhouba shipping capacity expansion project [42] - Changying Precision has established partnerships with several leading humanoid robot brands [44]

Industry News - The State Council held a press conference announcing that starting from January 1, 2022, eligible infants can receive childcare subsidies, with a preliminary budget of approximately 90 billion yuan for this year [6] - A national teleconference on the prevention and control of the Chikungunya virus was held, emphasizing the need for environmental sanitation and effective mosquito control measures [6] - The Chinese medicine industry will implement labeling regulations for medicinal herbs starting August 1, 2023, requiring labels to include expiration dates [7] - The China Coking Industry Association held a market analysis meeting, where representatives agreed to raise coking prices by 50 to 75 yuan per ton starting July 31 [7] - A successful launch of low-orbit satellite internet satellites was conducted using the Long March 8 rocket, marking advancements in automated launch technology [8] Company News - Upwind New Materials announced a suspension of trading due to abnormal stock price fluctuations [3] - CATL reported a net profit of 30.5 billion yuan for the first half of the year, a year-on-year increase of 33.02%, and plans to distribute a cash dividend of 10.07 yuan per share [9] - Vanke A announced that Shenzhen Metro Group will provide a loan of up to 869 million yuan to the company [9] - XGIMI Technology projected a net profit increase of 2062% year-on-year for the first half of the year [9] - Yonghui Supermarket plans to raise no more than 3.992 billion yuan through a private placement for store upgrades [9] - Yangtze Power announced plans to invest approximately 26.6 billion yuan in the construction of the Gezhouba shipping capacity expansion project [9] - Digital Certification announced that its controlling shareholder intends to transfer shares without compensation, changing the controlling shareholder to Beijing Data Group [9] - Chip products from Shanghai Lisan are undergoing optimization, with no revenue generated yet [9] - Zhongwang Software is facing a copyright infringement lawsuit from Autodesk in a U.S. court [9] - Chipsea Technology is planning to issue H-shares and list on the Hong Kong Stock Exchange [9] - Sunshine Dairy announced that its controlling shareholder sold a total of 1.1452 million shares in the past two days [9]

金橙子：筹划购买萨米特光电55%股权 金橙子公告，公司正在筹划以发行股份及支付现金的方式购买长春萨米特光电科技有限公司55%的股权，同时拟募集配套资金。本次交易预计不构成重大 资产重组，不构成公司关联交易，不会导致公司实控人变更。公司股票自2025年7月31日开市起停牌。 特宝生物：子公司收购Skyline Therapeutics Limited部分资产完成交割 特宝生物公告，全资子公司厦门伯赛基因转录技术有限公司收购Skyline Therapeutics Limited部分资产，收购范围包括Skyline Therapeutics Limited及其下属 公司的资产。2025年7月29日（开曼群岛时间2025年7月28日），本次交易已完成交割。 每经记者｜王琳 每经编辑｜程鹏 魏官红 并购重组 业绩披露 宁德时代：上半年归母净利润同比增长33.02% 宁德时代披露半年度报告，2025年上半年实现营业收入1788.86亿元，同比增加7.27%；归母净利润305.12亿元，同比增长33.02%。 金河生物：上半年归母净利润同比增长51.52% 金河生物披露半年度报告，公司2025年上半年实现营业收入为13. ...