飞亚达称，报告期内，国内手表消费市场持续承压，公司手表主要业务销售收入及毛利率同比下降。公 司根据《企业会计准则》及公司会计政策相关规定，基于业务实际情况及谨慎性原则，对存在减值迹象 的各项资产计提了减值准备。 名表卖不动 飞亚达拥有自有手表品牌飞亚达、Emile Chouriet、ADASHER以及授权合作品牌北京、Jeep，覆盖中高 端、大众、时尚等细分市场。飞亚达虽然重点发力自有品牌和授权品牌的研发和销售，但实际上飞亚达 的收入主要来源于名表服务。 2025年半年度报告显示，飞亚达的手表业务收入占比高达93.02%，但聚焦产品研发、设计与销售的手 表品牌业务占比仅17.66%，而涵盖世界名表销售、售后维修在内的名表全面服务业务占比高达 75.36%。 2025年，国内手表消费市场持续承压，飞亚达手表主要业务销售收入及毛利率同比下降。面对传统手表 市场需求低迷，飞亚达提出加快转型升级，打造第二增长曲线，但相关收购项目的最终交易方案尚未确 定。 有关人士表示，未来飞亚达需通过强化传统业务的特色定位、加速新业务的规模扩张、加快收购整合与 管理提升，实现转型升级，打造"精密制造+智能生态"的双轮驱动模式。 近日 ...

Market Overview - The jewelry sector experienced a slight decline of 0.03% on February 4, with China Gold leading the drop [1] - The Shanghai Composite Index closed at 4102.2, up 0.85%, while the Shenzhen Component Index closed at 14156.27, up 0.21% [1] Individual Stock Performance - Notable gainers included: - Caizhi Co., Ltd. (605599) with a closing price of 25.23, up 5.43% and a trading volume of 305,900 shares, totaling 773 million yuan [1] - Shenhua A (000017) closed at 7.53, up 1.62% with a trading volume of 178,300 shares, totaling 134 million yuan [1] - Major decliners included: - China Gold (600916) closed at 12.17, down 6.31% with a trading volume of 2,423,000 shares [2] - Xinghua Jewelry (002731) closed at 11.05, down 0.90% with a trading volume of 307,700 shares [2] Capital Flow Analysis - The jewelry sector saw a net outflow of 465 million yuan from institutional investors, while retail investors contributed a net inflow of 464 million yuan [2] - The main capital flow for selected stocks showed: - Zhou Dazheng (002867) had a net inflow of 15.87 million yuan from institutional investors, while retail investors had a net outflow of 608,600 yuan [3] - Diya Co., Ltd. (301177) experienced a net inflow of 7.01 million yuan from institutional investors, with a net outflow of 68,700 yuan from retail investors [3]

Market Overview - The jewelry sector increased by 2.75% on February 3, with Cai Bai Co., Ltd. leading the gains [1] - The Shanghai Composite Index closed at 4067.74, up 1.29%, while the Shenzhen Component Index closed at 14127.1, up 2.19% [1] Stock Performance - Cai Bai Co., Ltd. (605599) closed at 23.93, up 10.02% with a trading volume of 125,100 shares and a transaction value of 292 million [1] - ST XinHuaJin (600735) closed at 6.33, up 4.98% with a trading volume of 195,800 shares and a transaction value of 122 million [1] - Chao Hong Ji (002345) closed at 12.70, up 4.44% with a trading volume of 214,600 shares and a transaction value of 268 million [1] - Man Ka Long (300945) closed at 19.33, up 4.26% with a trading volume of 349,200 shares and a transaction value of 665 million [1] - Other notable stocks include Shen Zhonghua A (000017) at 7.41, up 4.07%, and Mingpai Jewelry (002574) at 6.47, up 3.69% [1] Capital Flow - The jewelry sector experienced a net outflow of 555 million from institutional investors, while retail investors saw a net inflow of 392 million [2] - The net inflow from speculative funds was 162 million [2] Individual Stock Capital Flow - Cai Bai Co., Ltd. had a net inflow of 65.33 million from institutional investors, but a net outflow of 46.25 million from retail investors [3] - Zhou Da Sheng (002867) had a net inflow of 13.05 million from institutional investors, with a net outflow of 7.68 million from retail investors [3] - Lao Feng Xiang (600612) saw a net inflow of 12.57 million from institutional investors, while retail investors had a net outflow of 17.84 million [3] - Other stocks like ST XinHuaJin and Di A Co., Ltd. also showed varied capital flows with both inflows and outflows from different investor types [3]

Investment Rating - The report maintains a recommendation for investment in the aerospace and defense sectors, particularly focusing on companies like MOOG and others involved in commercial aerospace and robotics [3]. Core Insights - MOOG is expanding its capacity in the aerospace sector, aiming to benefit from increased global defense spending and the growth of commercial space activities. The company achieved revenues of $3.861 billion in 2025, a year-on-year increase of 7%, with a net profit of $235 million, up 12% [4][21]. - The electric servo drive systems are expected to benefit significantly from the booming commercial aerospace and humanoid robotics industries, with the market for motors and gear reducers projected to exceed 200 billion yuan [5]. - The report highlights potential investment opportunities in companies like Haoshi Electromechanical, Feiyada, and Yap Group, which are expanding into the aerospace and robotics sectors [6]. Summary by Sections 1. From MOOG's Capacity Expansion - MOOG, a leader in precision motion control for aerospace and defense, is actively expanding its commercial aerospace capabilities. The company has a strong historical presence in NASA and defense projects, with a diversified product line that includes actuators and servo systems [4][12]. - The company completed a significant capacity expansion in June 2025 to meet the increasing demand for weekly space launch tasks from commercial and government clients [24]. 2. Electric Servo Drive Systems - Electric servo systems serve as critical components in connecting control computers to execution structures, with applications in both aerospace and humanoid robotics. The market for these systems is expected to grow substantially due to the maturation of the commercial aerospace and robotics industries [5][32]. - The report forecasts that the market for electric motors and gear reducers will exceed 200 billion yuan as the commercial aerospace and humanoid robotics sectors mature [5]. 3. Investment Recommendations - Haoshi Electromechanical is focusing on high-end CNC machine tools and has begun collaborations in the commercial aerospace sector [60]. - Feiyada, a leading domestic watchmaker, plans to acquire Chang Kong Gear to enter the robotics and aerospace fields [64]. - Yap Group, a global leader in fuel systems, is acquiring Ying Shuang to expand into robotics and aerospace applications [67].

近年来市盈率变化情况 (倍) 中证智能财讯飞亚达（000026）1月30日晚间披露2025年度业绩预告，预计2025年归母净利润7600万元至9800万元，同比下降55.53%-65.51%；扣非净利润预 计7200万元-9400万元，同比下降54.97%-65.51%；基本每股收益0.1873元/股-0.2415元/股。以1月30日收盘价计算，飞亚达目前市盈率（TTM）约为65.67 倍-84.68倍，市净率（LF）约1.91倍，市销率（TTM）约1.8倍。 以本次披露业绩预告均值计算，公司近年市盈率（TTM）图如下所示： 1,000 இ00 600 400 200 19-4 0 15-0 14-26 17.76 -200 2020-12-37 2021-06-30 2021-12-37 2022-06-30 3-06-30 22-12-37 *-72 ـ در r ּ〇- 公司 -〇- 行业均值 100 ହ 90 80 70 60 50 40 30 23:38 20 14:2 12024 10 100 3 4.83 74 0 2027-12-37 | 2020-12-37 I 2021-06-30 | 2 ...

经济观察网2026年1月30日，飞亚达（000026）发布2025年度业绩预告，预计2025年净利润7600万元至 9800万元，同比下降55.53%至65.51%；扣除非经常性损益后的净利润7200万元至9400万元，同比下降 54.97%至65.51%。 ...

每经头条（nbdtoutiao）——核电建设热潮下，设备厂忙到"飞起"！订单已排至2028年，员工三班倒， 产线24小时不停 （记者 胡玲） 每经AI快讯，飞亚达1月30日晚间发布公告称，公司本次合计计提各项资产减值准备5962.14万元，转回 各项资产减值准备262.2万元，转销各项资产减值准备2417.85万元，相应减少公司2025年度利润总额 3282.09万元。上述数据以会计师事务所年度审计最终确认的金额为准。 ...

飞亚达精密科技股份有限公司市值管理制度 飞亚达精密科技股份有限公司 市值管理制度 （2026 年 1 月） 第一章 总则 第一条 为加强飞亚达精密科技股份有限公司（以下简称"公司"）市值管理，推动提升 公司投资价值，增强投资者回报，根据《中华人民共和国公司法》、《中华人民共和国证券法》、 《深圳证券交易所股票上市规则》、《上市公司监管指引第 10 号——市值管理》等法律法规、 规范性文件和《公司章程》的有关规定，结合公司实际情况，制定本制度。 第二条 本制度所称市值管理，是指公司以提高上市公司质量为基础，为提升公司投资价 值和股东回报能力而实施的战略管理行为。 （一）合规性原则：公司应当在严格遵守相关法律法规、规范性文件、自律监管规则以及 《公司章程》等内部规章制度的前提下开展市值管理工作。 （二）系统性原则：公司应当按照系统思维、整体推进的原则，协同公司各业务体系以系 统化方式持续开展市值管理工作。 （三）科学性原则：公司应当依据市值管理的规律进行科学管理，科学研判影响公司投资 价值的关键性因素，以提升公司质量为基础开展市值管理工作。 （四）常态性原则：公司应当及时关注资本市场及公司股价动态，常态化主动跟进 ...

飞亚达精密科技股份有限公司 关于 2025 年度计提资产减值准备的公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假记载、误导性陈述或者重 大遗漏。 飞亚达精密科技股份有限公司（以下简称"公司"）于 2026 年 1 月 29 日召开第十一届董 事会第十三次会议，会议审议通过了《关于 2025 年度计提资产减值准备的议案》。现将具体 情况公告如下： 一、本次计提资产减值准备的情况概述 为真实反映公司 2025 年度财务状况、资产状况及经营成果，根据《企业会计准则》和公 司会计政策相关规定，公司对截至 2025 年 12 月 31 日合并资产负债表范围内的各类资产进行 了全面检查和减值测试，基于谨慎性原则，对存在减值迹象的各项资产合计计提减值准备 5,962.14 万元，转回资产减值准备 262.20 万元，转销资产减值准备 2,417.85 万元，具体情 况如下： 单位：万元 | 项目 | 计提 | 转回 | 转销 | | --- | --- | --- | --- | | 应收款项坏账准备 | 568.45 | 262.20 | - | | 存货跌价准备 | 5,393.69 | - ...

2025 年度业绩预告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假记载、误导性陈述或者重 大遗漏。 一、本期业绩预计情况 1.业绩预告期间：2025 年 1 月 1 日-2025 年 12 月 31 日 证券代码：000026 200026 证券简称：飞亚达 飞亚达 B 公告编号：2026-003 飞亚达精密科技股份有限公司 2.业绩预告情况：预计净利润为正值且属于同向下降情形 | 项目 | 本报告期 | | | 上年同期 | | | | --- | --- | --- | --- | --- | --- | --- | | 归属于上市公司股 东的净利润 | 盈利：7,600 | 万元–9,800 | 万元 | 盈利：22,035.02 | 万元 | | | | 比上年同期下降：65.51%-55.53% | | | | | | | 扣除非经常性损 益后的净利润 | 盈利：7,200 | 万元–9,400 | 万元 | 盈利：20,872.83 | 万元 | | | | 比上年同期下降：65.51%-54.97% | | | | | | | 基本每股收益 | 盈利：0.1873 | 元 ...