答：超纯水系高毛利业务，但进入门槛较高，公司将持续努力，力争拓展 在该领域的发展。 4、问：盐湖提锂用膜产品实现镁截留率 95% 以上，该技术在上半年的实 际应用规模有多大？是否已形成稳定的盈利贡献？ 答：您好！公司在盐湖提锂领域构建不同选择性分离性能的 MASE 特种分离 纳滤膜产品线和多膜耦合分离纯化技术，该类产品和技术目前已经成功应 用于青海汇信 20000 吨/年等多个盐湖提锂项目中。上述产品和技术为公司 在特种分离膜及膜分离工程业务提供了产品和技术支撑，同时为公司的经 营业绩和效益做出了贡献。谢谢您的关注。 5、问：报告显示公司的流动负债较期初下降约 19.5%，请问主要得益于合 同负债增长还是短期借款减少？ 证券代码：000920 证券简称：沃顿科技 沃顿科技股份有限公司投资者关系活动记录表 编号：202510 | 投资者关 | □特定对象调研 □分析师会议 | | --- | --- | | 系活动类 | □媒体采访 业绩说明会 ☑ | | 别 | □新闻发布会 □路演活动 | | | □现场参观 | | | □其他 | | 参与单位 | 参与沃顿科技 2025 年半年度线上业绩说明会的投资者 ...

Group 1: Financial Performance - The company's net profit attributable to shareholders for the first half of 2025 increased by 27% year-on-year, driven primarily by revenue growth in the membrane business [2] - The revenue from membrane separation engineering increased due to the completion and acceptance of multiple projects, although the gross margin showed some fluctuations due to varying project characteristics [2][3] Group 2: Market Expansion - Overseas business revenue grew by over 20% year-on-year in the first half of 2025, with major sales regions covering over 130 countries including Southeast Asia, the Middle East, Eastern Europe, and South America [3] - The company is actively enhancing its overseas market presence through channel development, product structure optimization, and brand promotion [3] Group 3: Product Development - The sales revenue of seawater desalination membranes and acid-alkali resistant membranes saw significant growth, aligning with the company's strategic expectations for domestic substitution and high-end product demand [3] - The company plans to continue leveraging its technological advantages to expand market applications for related products [3] Group 4: Subsidiary Performance - The growth of the subsidiary's plant fiber business is relatively weak, attributed to the correlation with real estate delivery volumes affecting furniture demand [3] - The company is exploring commercial projects in sectors like education and healthcare, while enhancing online and offline integration to improve operational efficiency [3]

Core Insights - Wharton Technology has developed a series of ultra-pure water membrane products characterized by high desalination rates, high water production, and low TOC leaching levels [1] - The company is focused on identifying high-quality targets with technological synergy and market potential, and will prudently evaluate various potential cooperation and investment opportunities based on its development plan to enhance core competitiveness and sustainable development capabilities [1]

| 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 688585 | 上纬新材 | 83.00 | -5.26% | 10.64万 | 8.94亿 | | 300305 | 裕兴股份 | 6.28 | -4.12% | 8.70万 | 5513.21万 | | 920066 | 科拜尔 | 31.39 | -3.95% | 2.02万 | 6406.28万 | | 301395 | 仁信新材 | 11.63 | -3.00% | ﻛ 6.10万 | 7145.78万 | | 300834 | 星辉环材 | 23.62 | -2.56% | 2.68万 | 6343.12万 | | 002395 | 双象股份 | 18.78 | -2.14% | 5.14万 | 9743.05万 | | 301003 | 江苏博云 | 35.77 | -2.11% | 1.99万 | 7200.66万 | | 300218 | 安利股份 | 24.97 | -2.08% | 25.28万 | 6.38亿 | | 60 ...

Group 1 - The core viewpoint of the article highlights the recent movements of social security funds in the A-share market, revealing that they have entered the top ten circulating shareholders of 71 new stocks in the second quarter of 2025 [1] - Su Shi Testing has the highest number of new social security fund holdings, with 3 new holdings, while Shanghai Jahwa and Xin Qiang Lian each have 2 new holdings [1] - The article provides a detailed list of companies that have seen new social security fund investments, including their respective shareholding numbers, quantities, and market values [2][3][4][5] Group 2 - Specific companies mentioned include Su Shi Testing with 1,486.20 thousand shares valued at 213 million yuan, Shanghai Jahwa with 1,150.51 thousand shares valued at 242 million yuan, and Xin Qiang Lian with 555.56 thousand shares valued at 199 million yuan [2][3] - Other companies with new social security fund holdings include Hengdian East Magnetic, Nuofushin, and Baichu Electronics, each with 1 new holding, along with their respective share quantities and market values [2][3][4] - The article lists a total of 71 companies that have received new investments from social security funds, indicating a diverse range of industries from agriculture to electronics and pharmaceuticals [2][3][4][5]

Core Insights - Wharton Technology (000920) reported a total revenue of 880 million yuan for the first half of 2025, representing a year-on-year increase of 18.95% [1] - The net profit attributable to shareholders reached 124 million yuan, up 27.81% year-on-year [1] - The company's gross margin improved to 38.91%, an increase of 3.12% compared to the previous year [1] Financial Performance - Total revenue for Q2 2025 was 517 million yuan, showing a year-on-year growth of 27.66% [1] - Q2 net profit attributable to shareholders was approximately 80 million yuan, reflecting a 26.44% increase year-on-year [1] - Accounts receivable rose significantly, with a year-on-year increase of 46.91%, reaching 333 million yuan [1] Key Financial Ratios - Gross margin for the reporting period was 38.91%, up from 37.73% in the previous year [1] - Net profit margin improved to 14.64%, compared to 13.55% a year earlier [1] - The ratio of selling, administrative, and financial expenses to revenue decreased to 15.44%, down 6.02% year-on-year [1] Cash Flow Analysis - Operating cash flow per share decreased by 82.84% to 0.05 yuan, attributed to increased cash payments for goods and services [3] - The net cash flow from investing activities increased by 47.15%, due to reduced cash payments for fixed assets and other long-term assets [3] - Net cash flow from financing activities saw a significant decline of 242.15%, primarily due to increased dividend payments [3] Business Model and Operations - The company operates primarily in three segments: core membrane business, membrane separation engineering, and plant fiber business [4] - The core membrane business includes the R&D, manufacturing, and sales of separation membrane products, which are sold in over 130 countries [4] - The membrane separation engineering segment leverages membrane technology to provide comprehensive services, including project operation and maintenance [4]

Core Viewpoint - Wharton Technology announced a semi-annual distribution plan for 2025, proposing a cash dividend of 0.6 yuan per 10 shares, totaling approximately 28.36 million yuan, which represents 22.79% of the company's net profit [2][3]. Company Financial Performance - For the first half of 2025, Wharton Technology reported revenue of 880 million yuan, reflecting a year-on-year growth of 18.95% [2]. - The net profit for the same period was 124 million yuan, showing a year-on-year increase of 27.81% [2]. Dividend Distribution History - This distribution marks the 17th cash payout since the company's listing, with a historical overview of past distributions provided [2]. - The most recent distribution of 0.6 yuan per 10 shares has a dividend yield of 0.61% [2]. Industry Context - In the basic chemical industry, 18 companies have announced their semi-annual distribution plans for 2025, with Wharton Technology's payout of 28.36 million yuan ranking among them [3]. - The highest cash distribution in the industry was reported by Yuntianhua at 365 million yuan, followed by Jiahuan Energy and Jinneng Technology with distributions of 265 million yuan and 199 million yuan, respectively [3].

Core Viewpoint - Wharton Technology (000920.SZ) reported a significant increase in both revenue and net profit for the first half of 2025, indicating strong financial performance and growth potential [1] Financial Performance - The company's operating revenue reached 880 million yuan, representing a year-on-year growth of 18.95% [1] - The net profit attributable to shareholders was 124 million yuan, showing a year-on-year increase of 27.81% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 123 million yuan, reflecting a year-on-year growth of 28.31% [1] - Basic earnings per share were reported at 0.263 yuan [1]

Core Viewpoint - Wharton Technology (000920.SZ) reported a strong financial performance for the first half of 2025, with significant year-on-year growth in both revenue and net profit [1] Financial Performance - The company's operating revenue reached 880 million yuan, representing a year-on-year increase of 18.95% [1] - Net profit attributable to shareholders was 124 million yuan, showing a year-on-year growth of 27.81% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 123 million yuan, reflecting a year-on-year increase of 28.31% [1] - Basic earnings per share stood at 0.263 yuan [1]

Group 1 - The core announcement from Wharton Technology is regarding its profit distribution plan for the first half of 2025, proposing a dividend of 0.6 yuan per 10 shares (including tax) [2] - The total expected dividend amount is approximately 28,357,267.08 yuan [2]