证券代码：688786 证券简称：悦安新材 公告编号：2026-001 江西悦安新材料股份有限公司 2025 年度业绩快报公告 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、准确性和完整性依法承担法律责任。 本公告所载2025年度主要财务数据为初步核算数据，未经会计师事务所审计， 具体数据以江西悦安新材料股份有限公司（以下简称"公司"）2025年年度报告 为准，提请投资者注意投资风险。 一、2025 年度主要财务数据和指标 单位：人民币万元 | 项目 | 本报告期 | 上年同期 | 增减变动幅度（％） | | --- | --- | --- | --- | | 营业总收入 | 43,753.16 | 41,777.73 | 4.73 | | 营业利润 | 10,077.88 | 7,891.75 | 27.70 | | 利润总额 | 10,000.15 | 7,756.63 | 28.92 | | 归属于母公司所有者的净利润 | 8,718.48 | 7,029.37 | 24.03 | | 归属于母公司所有者的扣除非 经常性损益的净利润 | 8,154 ...

Core Insights - The company reported a total operating revenue of 438 million yuan for the fiscal year 2025, representing a year-on-year increase of 4.73% [1] - The net profit for the same period reached 87.18 million yuan, showing a significant year-on-year growth of 24.03% [1] - The increase in net profit is attributed to a reduction in product costs compared to the previous year, driven by higher production volumes that diluted fixed costs and ongoing optimization of production processes that effectively reduced losses during manufacturing [1]

Core Viewpoint - On February 27, 2026, the stock price of Yuenan New Materials (688786.SH) experienced a decline of 5.50%, closing at 36.95 yuan, following a significant increase the previous day [1][4]. Stock Performance - After hitting the daily limit up of 15% on February 26, Yuenan New Materials closed at 39.1 yuan, leading to a technical correction as some investors opted to take profits [1]. Market Environment - The overall A-share market showed a fluctuating pattern on February 27, with the Shanghai Composite Index down 0.17% and the Shenzhen Component Index down 0.68%. Although the non-ferrous metal sector rose by 1.34%, the specific metal new materials segment only increased by 0.80%, indicating potential impacts from fund rotation across different sectors [2]. Fund Flow - On the same day, Yuenan New Materials saw a net inflow of main funds, but the overall trading volume and turnover rate were high, suggesting significant divergence between bullish and bearish sentiments, which contributed to increased stock price volatility [3]. Event Impact - The decline in Yuenan New Materials' stock price on February 27 was primarily attributed to normal market fluctuations and profit-taking after the previous day's strong performance. Additionally, the overall market index fluctuations and fund rotation between sectors also played a role in this price movement [4].

证券日报网2月13日讯，悦安新材在接受调研者提问时表示，公司正积极拓展粗粉在金属注射成型 (MIM)喂料领域的应用，聚焦传统金属五金件、化工阀体等铸造替代领域。相较于传统铸造工艺，MIM 技术自动化程度高，在产品精度控制及复杂结构成型方面具备优势。公司目前正与下游五金件客户推进 工艺验证及小批量试用，以期打开该领域新的应用场景。 ...

Core Viewpoint - The company is progressing as planned with the trial production of its 3,000-ton demonstration line project in Ningxia, achieving expected technical indicators [1] Group 1: Project Development - The demonstration line project utilizes a titanium iron carbonyl process, enabling the simultaneous production of carbonyl iron powder and rutile, thus achieving resource utilization [1] - The project is on track with its trial production, indicating effective project management and execution [1] Group 2: Cost Structure and Competitive Advantage - The cost structure benefits from the value of by-products, which helps to lower overall costs [1] - The company leverages the regional advantages in energy, such as electricity and gas in Ningxia, to further reduce the comprehensive production costs of carbonyl iron powder [1] - These strategies are aimed at enhancing the company's long-term market competitiveness [1]

Core Viewpoint - The company emphasizes a principle of "steady expansion and priority on efficiency" for the second phase of its Ningxia base construction and business development [1] Group 1: Project Development - The second phase project will be advanced based on the operational data from the first phase, confirmation of market demand, and the realization of construction funding planning [1] Group 2: Business Strategy - The company aims to consolidate its core advantage in carbonyl iron powder while also focusing on the efficient utilization of by-products and expanding into diverse downstream application scenarios [1] - This dual approach is intended to balance short-term operational stability with long-term strategic layout, continuously enhancing the comprehensive value and core competitiveness of the company's material platform [1]

Core Viewpoint - The company Yu'an New Materials has highlighted the application of carbonyl iron powder in automotive intelligent suspension systems, specifically in magnetorheological dampers, which cater to the precise control needs of high-performance vehicles. This product line has established stable sales overseas while being in the market introduction phase domestically, with ongoing technical collaborations and product validations with several leading suppliers. The trend of intelligent upgrades in domestic new energy vehicles is expected to become a significant source of business growth for the company in the future [1]. Group 1 - The carbonyl iron powder can be used in automotive intelligent suspension systems [1] - The product has a millisecond response advantage, suitable for high-performance vehicle control [1] - Stable sales have been achieved in overseas markets, while the domestic market is in the introduction phase [1] Group 2 - The company is engaging in technical collaborations and product validations with multiple leading suppliers [1] - The trend of intelligent upgrades in domestic new energy vehicles is anticipated to drive future business growth [1]

Group 1 - The company Yu'an New Materials stated that its wholly-owned subsidiary, Ningxia Yu'an Metal Soft Magnetic Micro-Nano Powder Production Demonstration Line, is currently in the trial production phase [2] - The company has not yet formed batch sales of rutile products, and the current product prices and gross margins are not yet referenceable [2]

Group 1 - The core viewpoint of the news is that Yuenan New Materials has shown significant trading activity, with a notable increase in stock price and fluctuations in financing and margin trading [1] - On January 29, Yuenan New Materials' stock price increased by 6.17%, with a trading volume of 201 million yuan [1] - The financing data indicates that on the same day, the company had a financing buy amount of 14.31 million yuan and a financing repayment of 18.08 million yuan, resulting in a net financing buy of -3.76 million yuan [1] Group 2 - As of September 30, the number of shareholders for Yuenan New Materials reached 5,289, an increase of 21.92% compared to the previous period [2] - The company reported a revenue of 321 million yuan for the period from January to September 2025, reflecting a year-on-year growth of 3.19% [2] - The net profit attributable to the parent company for the same period was 61.42 million yuan, representing a year-on-year increase of 9.04% [2] Group 3 - Yuenan New Materials has distributed a total of 184 million yuan in dividends since its A-share listing, with 133 million yuan distributed over the past three years [3]

Core Viewpoint - The metal new materials sector experienced a slight increase of 0.42% on January 29, with notable gains from specific companies, while the overall market showed mixed results with the Shanghai Composite Index rising by 0.16% and the Shenzhen Component Index declining by 0.3% [1] Group 1: Market Performance - The Shanghai Composite Index closed at 4157.98, up 0.16% [1] - The Shenzhen Component Index closed at 14300.08, down 0.3% [1] - The metal new materials sector saw a net inflow of 6.09 billion yuan from institutional investors, while retail investors experienced a net outflow of 7.45 billion yuan [2][3] Group 2: Individual Stock Performance - Ni'an New Materials (688786) led the sector with a closing price of 33.19, up 6.17% with a trading volume of 61,700 shares and a transaction value of 201 million yuan [1] - Jinli Permanent Magnet (300748) followed with a closing price of 41.16, up 5.67%, with a trading volume of 1.5032 million shares and a transaction value of 6.13 billion yuan [1] - Galaxy Magnetic Materials (300127) closed at 38.39, up 4.66%, with a trading volume of 421,800 shares and a transaction value of 1.602 billion yuan [1] Group 3: Fund Flow Analysis - Jinli Permanent Magnet (300748) had a net inflow of 4.20 billion yuan from institutional investors, while retail investors saw a net outflow of 3.12 billion yuan [3] - Ningbo Yunsheng (600366) recorded a net inflow of 2.07 billion yuan from institutional investors, with a net outflow of 2.53 billion yuan from retail investors [3] - The overall fund flow indicates a strong preference for institutional investment in the metal new materials sector despite retail investor withdrawals [2][3]