资金流向方面，今日主力资金净流入1410.73万元，占比成交额3.7%。其中，超大单净流出899.94万 元、占成交额2.36%，大单净流入2310.67万元、占成交额6.06%，中单净流出流入1699.80万元、占成交 额4.46%，小单净流出3110.52万元、占成交额8.16%。 中科三环最新一期业绩显示，截至2024年报，公司营业总收入67.51亿元、同比减少19.23%，归属净利 润1200.78万元，同比减少95.64%，扣非净利润1726.53万元，同比减少107.88%，流动比率3.052、速动 比率1.979、资产负债率26.23%。 中科三环（000970）3月24日主力资金净流入 1410.73万元 金融界消息 截至2025年3月24日收盘，中科三环（000970）报收于13.02元，上涨1.56%，换手率 2.43%，成交量29.52万手，成交金额3.81亿元。 通过天眼查大数据分析，北京中科三环高技术股份有限公司共对外投资了22家企业，参与招投标项目5 次，知识产权方面有商标信息5条，专利信息611条，此外企业还拥有行政许可13个。 来源：金融界 天眼查商业履历信息显示，北京中科三环 ...

北京中科三环高技术股份有限公司 关于控股子公司获得政府补助的公告 本公司及其董事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 一、获取补助的基本情况 北京中科三环高技术股份有限公司（以下简称"公司"或"本公司"）获悉， 公司控股子公司宁波三环磁声工贸有限公司于近日获得政府补助 154.65 万元人 民币。前述补助为与收益相关的政府补助，占公司最近一期经审计归属于上市公 司股东净利润的 12.88%，补助形式为现金，与公司日常经营活动相关，具有可持 续性。截至本公告披露日，前述补助已经实际收到相关款项。 二、补助的类型及其对上市公司的影响 证券代码：000970 证券简称：中科三环 公告编号：2025-019 3、补助对上市公司的影响。 依据《企业会计准则第 16 号一政府补助》的相关规定，上述政府补助的取 得预计对公司 2025 年度利润总额的影响金额为 154.65 万元人民币，全部计入其 他收益。以上会计处理及其对公司相关财务数据的影响未经审计，最终结果以会 计师事务所审计确认后的结果为准。 1 4、风险提示和其他说明。 本次政府补助具体的会计处理及对公司利润总额的 ...

证券代码：000970 证券简称：中科三环 公告编号：2025-018 北京中科三环高技术股份有限公司 除增加上述临时提案外，公司 2024 年年度股东大会的会议召开时间、地点 等其他事项均保持不变，现将增加临时提案后的股东大会有关事宜补充通知如下： 一、召开会议的基本情况 1、股东大会届次：2024 年年度股东大会 1 2、股东大会的召集人：公司董事会。 关于 2024 年年度股东大会增加临时提案 暨股东大会补充通知的公告 本公司及其董事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 北京中科三环高技术股份有限公司（以下简称 "公司"或"本公司"）已于 2025 年 3 月 13 日披露了《关于召开 2024 年年度股东大会的通知》，公告了公司 召开 2024 年年度股东大会的时间、地点、审议事项等有关事宜。 2025 年 3 月 11 日，公司召开的第九届董事会第八次会议审议通过《关于开 展远期结售汇及外汇期权业务的议案》，具体内容详见公司于 2025 年 3 月 13 日 在 《 证 券 时 报 》《 证 券 日 报 》《 中 国 证 券 报 》 及 巨 潮 资 讯 ...

Investment Rating - The report does not explicitly state an investment rating for the small metals industry or the specific company being analyzed [1]. Core Insights - The company is focused on enhancing its core competitiveness and sustainable profitability through improved raw material procurement management, cost control optimization, and market expansion efforts [20]. - The company has been involved in the robotics sector for several years, primarily in industrial robots, and is currently developing humanoid robots, which could positively impact the neodymium-iron-boron permanent magnet materials industry once commercialized [20]. - The company's capacity expansion plans are aligned with order and market demand, avoiding blind expansion, and the current overall operating rate is approximately 60%-70% [20]. Summary by Sections 1. Basic Research Information - The research was conducted on March 14, 2025, focusing on the small metals industry, specifically the company Zhongke Sanhuan [13]. 2. Detailed Research Institutions - Various institutions participated in the research, including Fangzheng Securities, Dingfeng Asset Management, Haitong Fund, and others [14]. 3. Research Institution Proportions - The report does not provide specific data on the proportions of research institutions involved [18]. 4. Main Content Information - The company is committed to providing high-quality products and services amidst intense market competition and is actively engaged in research and innovation to capture future market opportunities [20]. - The company is exploring the recycling of magnetic material waste through partnerships with external raw material suppliers [22].

Investment Ratings - The report maintains a "Buy" rating for several companies including Zijin Mining, Weichuang Electric, Ideal Auto, and Honghua Wisdom Energy [22][24][26][36] Core Insights - The macroeconomic environment shows signs of recovery, with consumer demand beginning to stabilize, particularly in the real estate and automotive sectors [2][4] - The report highlights a positive outlook for the consumer sector driven by government initiatives aimed at boosting consumption, including the "Consumption Promotion Special Action Plan" [17] - The technology sector, particularly companies like NVIDIA, is expected to benefit from upcoming product launches and advancements in chip technology [28] Summary by Sections Macro Overview - The report indicates that the U.S. economic growth expectations are being downgraded, while Germany's fiscal expansion plans are gaining traction [2] - Consumer demand is showing marginal improvement compared to the previous year, with signs of recovery in housing transactions and automotive sales [2][4] Sector Analysis - The consumer sector is expected to see a shift from "repair growth" to "endogenous expansion," with a focus on service consumption and quality improvement [17] - The report emphasizes the potential for structural investment opportunities in sectors such as AI-driven consumption and the aging population market [17][18] Company-Specific Insights - Zijin Mining is projected to maintain strong growth with a forecasted CAGR of 14% for net profit from 2025 to 2028 [22] - Weichuang Electric is recognized for its leadership in industrial control and is expected to expand into new markets, maintaining a "Buy" rating [22] - Ideal Auto's revenue is expected to grow significantly, with new models set to launch in 2025 [24] - Honghua Wisdom Energy reported a substantial increase in core profits, with a projected dividend yield exceeding 6% [29] Market Trends - The A-share market is anticipated to continue its upward trend, supported by a favorable macro environment and active market sentiment [7] - The report notes that the technology sector remains a key focus for investment, with expectations of strong performance in the coming quarters [5][6]

Group 1 - A total of 203 companies were investigated by institutions in the past five days, with significant interest in companies like Shenzhen South Circuit, Chip Source Micro, and Zoli Pharmaceutical [1] - Among the companies investigated, 46 received attention from more than 20 institutions, with Shenzhen South Circuit being the most popular, attracting 129 institutions [1] - The types of institutions involved in the investigations included 177 securities companies, 148 fund companies, and 85 private equity firms [1] Group 2 - In terms of market performance, 25 stocks among those investigated saw an increase, with Shenghong Technology, Xingtum Control, and Chaohongji leading with gains of 37.70%, 27.75%, and 18.76% respectively [2] - Nine stocks have reported annual results, with the highest net profit growth seen in Wantong Hydraulic and Xingtum Control, at 37.02% and 35.68% respectively [2] - Fourteen stocks have released preliminary reports for 2024, with significant net profit growth reported by Sitwei and Shenghong Technology, at 2651.81% and 72.94% respectively [2]

稀土永磁行业龙头中科三环（000970.SZ）于3月12日发布2024年年度报告，报告期内营业收入、归母净 利润分别为67.51亿元、1200.78万元，拟现金分红2407.14万元。公司克服稀土原材料价格下跌、市场竞 争加剧影响，从二季度开始已连续3个季度营收降幅收窄，2025年有望加速回升，公司净利润已率先触 底反弹，四季度同比增长4.33%。 从上游看，工信部发布《稀土开采和稀土冶炼分离总量调控管理办法》加速我国稀土行业集中度提升， 稀土价格回升趋势有望延续。而磁材行业为稀土下游行业，其产品售价采取"原材料+加工费"模式定 价，稀土价格止跌企稳令磁材行业利润修复。从下游来看，工业领域对钕铁硼的需求持续向好，空调产 销维持良好增长态势，汽车行业保持高景气度，风电高增的招标项目释放。AI技术的突飞猛进有望加 速人形机器人实现量产，为磁材需求打开长期成长空间。 中科三环在近期财报电话会中解答投资者问题时表示，公司产品应用于机器人领域已有多年，未来人形 机器人推向消费市场后，将会给钕铁硼永磁材料行业和公司带来积极影响。公司将继续关注这一领域的 发展动态,积极与相关客户进行沟通，努力把握潜在的市场机会。实际上，券 ...

Group 1 - The core viewpoint of the articles highlights the recovery of Zhongke Sanhuan's performance in the rare earth magnetic materials industry, with a significant rebound in results and a proposed dividend payout ratio of 200.46% for the annual profit distribution, attracting high attention from institutions [1] - Zhongke Sanhuan has maintained a consistent cash dividend policy since its listing, with a total of 24 dividends distributed by the end of 2024, and a share repurchase amounting to 108 million yuan in 2024, leading to a total cash dividend and share repurchase of 132 million yuan, the highest since its listing [1] - The company possesses a sintered NdFeB production capacity of 25,000 tons and is increasing its investment in R&D to enhance automation and intelligence in production processes, which effectively ensures delivery cycles for various application market products [1] Group 2 - The rapid advancement of AI technology is expected to accelerate the mass production of humanoid robots, potentially opening long-term growth opportunities for the demand for rare earth permanent magnetic materials [2] - Zhongke Sanhuan has been applying its products in the robotics field for several years, primarily in industrial robots, and is closely monitoring the development of humanoid robots, which are still in the R&D stage [2] - The successful development and market introduction of humanoid robots could positively impact the NdFeB permanent magnetic materials industry and Zhongke Sanhuan, as the company aims to seize potential market opportunities through active communication with relevant customers [2]

2月19日工信部发布《稀土开采和稀土冶炼分离总量调控管理办法》加速我国稀土行业集中度提升，稀 土集团在产业链的话语权以及对价格的把控能力提升，对稀土价格底部支撑力度将得到强化，稀土价格 回升趋势有望延续。截至3月12日，稀土价格指数为183.65，较2024年末上涨12.15%。 华泰证券此前对中科三环的三季报点评研报中认为，磁材行业为稀土下游行业，其产品售价采取"原材 料+加工费"模式定价，由于提前备货稀土原材料原因，其行业利润在稀土价格下行期受到较大影响， 伴随稀土价格止跌企稳后，磁材行业利润或实现逐步修复。而在3月14日研报中，华泰证券测算2025- 2026年全球氧化镨钕供需平衡/需求分别为-5.8%/-4.6%，供需大概率改善，2025年行业或至景气拐点， 稀土磁材产业链回暖有望推动中科三环业绩修复。 根据湘财证券3月11日研报，空调产销维持良好态势，排产预示未来一个季度有望在高基数上保持平稳 增长态势，电梯生产降幅边际收窄，燃油车产量同比下滑但跌幅延续大幅收窄，新能源汽车产销保持高 景气度，风电新增装机增速尽管有较大回落，但高增的招标项目释放仍将为后续高景气度提供坚实基 础，工业领域对钕铁硼的需求 ...

Investment Rating - The report maintains a "Buy" rating for the company [6]. Core Views - The company reported a revenue of 6.751 billion RMB in 2024, a year-over-year decrease of 19.23%, and a net profit attributable to shareholders of 12.01 million RMB, down 95.64% year-over-year. The fourth quarter revenue was 1.769 billion RMB, showing a year-over-year decline of 8.86% but a quarter-over-quarter increase of 4.52% [1][2]. - The decline in performance is attributed to a significant drop in both volume and price, alongside asset impairment provisions. However, there is an expectation for a recovery in the rare earth magnetic materials industry in 2025, which supports the "Buy" rating [1][3]. Summary by Sections Financial Performance - In 2024, the company produced and sold 10,636.85 tons and 10,088.44 tons of magnetic materials, respectively, representing year-over-year decreases of 6.97% and 10.91%. The sales revenue from magnetic materials fell by 20.74%, with a gross margin decline to 10.69%, down 2.02 percentage points year-over-year. The company recognized an asset impairment loss of 140 million RMB due to falling rare earth prices, impacting overall performance [2][3]. Industry Outlook - The rare earth industry is anticipated to reach a turning point in 2025, with potential recovery in the rare earth magnetic materials supply chain. The company has a production capacity of 25,000 tons for sintered NdFeB and 1,500 tons for bonded NdFeB. If market conditions improve, the company is positioned for rapid capacity expansion [3][4]. Earnings Forecast and Valuation - The earnings per share (EPS) estimates for 2025, 2026, and 2027 are projected at 0.19 RMB, 0.33 RMB, and 0.49 RMB, respectively. The price-to-book (PB) ratio for 2025 is set at 2.68, with a target price of 14.72 RMB, reflecting an increase from the previous target of 12.92 RMB due to improved comparable valuation levels [4][7].