国机精工集团股份有限公司投资者关系活动记录表 编号：2025—018 | 及世界首台 26 兆瓦系列主轴轴承及齿轮箱轴承，不断刷新产品 | | --- | | 纪录，推进国产化替代进程。 | | （三）精密机床轴承 | | 精密机床轴承近几年发展稳定，产品种类主要为精密机床主 | | 轴轴承和滚珠丝杠轴承。 | | 二、磨料磨具业务领域 | | 主要分为超硬材料磨具产品、复合超硬材料产品、金刚石功 | | 能化应用产品： | | （一）超硬材料磨具产品 | | 是具有极强市场竞争优势的核心业务，产品打破国外垄断， | | 主要服务于半导体、汽车、光电、工模具等领域。 | | （二）复合超硬材料产品 | | 聚焦石油、硬线等专业领域，金刚石复合片、金刚石拉丝模 | | 坯料和切削刀具用复合超硬材料等主要产品，金刚石复合片主要 | | 应用于石油、天然气、煤田地质钻探。 | | （三）金刚石功能化应用产品 | | 大单晶金刚石作为极限材料，拥有优异的声、光、电、磁、 | | 热等性能特点，被誉为"材料之王"，其功能化应用已经开始服 | | 务于国家重大工程和战略性新兴产业发展。金刚石更是"终极半 | | 导体材料 ...

10月20日，国机精工盘中上涨2.15%，截至13:45，报27.60元/股，成交4.29亿元，换手率2.98%，总市值 148.01亿元。 国机精工所属申万行业为：机械设备-通用设备-磨具磨料。所属概念板块包括：国机集团、空间站、军 民融合、商业航天（航天航空）、高铁等。 截至9月30日，国机精工股东户数5.30万，较上期减少5.69%；人均流通股9979股，较上期增加6.04%。 2025年1月-6月，国机精工实现营业收入16.08亿元，同比增长25.14%；归母净利润1.74亿元，同比减少 1.69%。 分红方面，国机精工A股上市后累计派现5.13亿元。近三年，累计派现3.12亿元。 资金流向方面，主力资金净流出1890.03万元，特大单买入3603.10万元，占比8.41%，卖出4523.20万 元，占比10.55%；大单买入7569.47万元，占比17.66%，卖出8539.40万元，占比19.92%。 国机精工今年以来股价涨100.15%，近5个交易日涨2.83%，近20日跌17.59%，近60日涨63.31%。 今年以来国机精工已经6次登上龙虎榜，最近一次登上龙虎榜为9月26日，当日龙虎榜净买入 ...

Group 1 - The A-share market has seen a significant rise in the cultivated diamond sector, with notable increases in stock prices for several companies [1] - HuiFeng Diamond experienced an increase of 18.28%, with a total market capitalization of 3.266 billion [2] - SiFangDa rose by 16.99%, reaching a market cap of 6.657 billion, and has a year-to-date increase of 24.34% [2] - LiLiang Diamond saw a 10.54% increase, with a market cap of 11.7 billion and a year-to-date increase of 24.49% [2] - Hengsheng Energy hit the 10% limit up, with a market cap of 8.408 billion and a remarkable year-to-date increase of 177.12% [2] - HuangHe XuanFeng approached the limit up with a 9.31% increase, having a market cap of 9.143 billion and a year-to-date increase of 52.40% [2] Group 2 - The MACD golden cross signal has formed, indicating a positive trend for these stocks [2]

Group 1 - The cultivated diamond concept has seen a decline of 4.62%, ranking among the top losers in the concept sector as of the market close on October 17 [1][2] - Within the cultivated diamond sector, *ST Yazhen hit the daily limit down, while Huanghe Xuanfeng, Sifangda, and Jingsheng Mechanical & Electrical also experienced significant declines [1][2] - Only two stocks in the sector saw price increases, with China Gold and Guojijinggong rising by 0.35% and 0.04% respectively [1][2] Group 2 - The cultivated diamond sector experienced a net outflow of 1.007 billion yuan from major funds today, with 13 stocks facing net outflows and 6 stocks seeing outflows exceeding 30 million yuan [2][3] - The stock with the highest net outflow was Chuangjiang New Material, which saw a net outflow of 397 million yuan, followed by Jingsheng Mechanical & Electrical and Huanghe Xuanfeng with net outflows of 243 million yuan and 98 million yuan respectively [2][3] - The stocks with the highest net inflows included Yuyuan Shares, Guokong Electronics, and Guojijinggong, with net inflows of 2.55 million yuan, 1.83 million yuan, and 410 thousand yuan respectively [2][3]

Core Insights - The cultivated diamond index experienced a significant adjustment, with most constituent stocks declining [1] - Notably, Strength Diamond led the decline with a substantial drop, while several other stocks such as Huanghe Xuanfeng, Sifangda, Huifeng Diamond, and Zhongbing Hongjian also followed suit [1] - Conversely, Wald and Guoji Jinggong saw slight increases, standing out in an otherwise downward trend [1] Company Performance - Strength Diamond reported the largest decline among the constituents of the cultivated diamond index [1] - Other companies like Huanghe Xuanfeng, Sifangda, Huifeng Diamond, and Zhongbing Hongjian also experienced notable decreases in their stock prices [1] - Wald and Guoji Jinggong were exceptions, showing minor gains despite the overall market downturn [1]

Core Insights - The report highlights the resilience of the A-share market amidst external shocks, indicating a sustained upward trend in the medium term despite recent volatility [4][5] - The banking sector is experiencing a recovery with positive relative returns, driven by improved dividend yields and stable fundamentals [7][8] - The commercial aerospace industry, particularly in rocket technology, presents investment opportunities in engine component suppliers and testing service providers [12][15] Economic News - China's scientists have made significant advancements in solid-state lithium batteries, potentially doubling the range of electric vehicles from 500 km to over 1000 km [2] - The National Development and Reform Commission has launched a three-year plan to double the service capacity of electric vehicle charging facilities by 2027, aiming for 28 million charging stations [2] - TSMC reported a record net profit growth of 39% in Q3 2025, with optimistic projections for the AI market and a capital expenditure increase [2] Company Insights - XPeng Motors achieved a remarkable 79.4% year-on-year increase in exports in September 2025, with total exports exceeding 29,723 units in the first nine months [3] - Tianhao Energy signed an investment agreement for a natural gas development project, enhancing energy security in the Southwest region [3] - Xiaomi launched a new ad-free short drama app, indicating a strategic move into content distribution [3] Banking Sector Analysis - The banking sector's PB valuation stands at 0.67x, indicating a favorable position compared to historical averages, with several banks showing positive stock performance [7][8] - The report anticipates stable net interest income growth due to a stabilization in interest margins and a resilient banking sector despite external pressures [9] - Mid-term dividend announcements from banks are expected to attract long-term capital, enhancing the sector's appeal [10] Commercial Aerospace Industry - The report emphasizes the importance of engine components and testing services in the commercial rocket industry, particularly referencing SpaceX's development of the Falcon 1 rocket [12][15] - Key suppliers in the domestic market, such as Sui Rui New Materials and Guoji Precision, are highlighted for their roles in providing critical components for rocket engines [16]

其中，10月15日黄河旋风早盘一度冲上涨停板、力量钻石和惠丰钻石早盘股价一度涨超10%。 中国商业经济学会副会长宋向清在接受《证券日报》记者采访时表示，此次股价异动并非短期炒作，核 心是出口政策升级引发的行业价值重估，叠加金刚石功能性应用突破与产业整合预期形成的共振效应， 超硬材料作为高端制造的"工业牙齿"，其战略价值将随产业升级持续凸显。 行业前景广阔 公开资料显示，超硬材料包括人造金刚石、立方氮化硼及其复合材料，被誉为"工业牙齿"和"终极半导 体材料"，广泛应用在我国高端制造和前沿技术中，是支撑国家科技进步和产业安全的关键战略材料。 近日，黄河旋风（600172）、力量钻石（301071）、惠丰钻石、四方达（300179）等超硬材料概念股股 价集体异动，10月9日至10月15日，5个交易日区间振幅分别达到36.33%、45.19%、41.54%、35.28%。 业内人士认为，未来，超硬材料生产企业亟需加强在新技术、新材料、新工艺等方面的研发投入，抓住 特色提升品质向高端转型，同时加大国内市场的开拓力度，以应对当前多变的市场环境。 产业链公司积极布局 中国超硬材料行业正从规模扩张向质量提升转变，产业链公司不 ...

Economic News - The Minister of Industry and Information Technology of China met with Apple's CEO to discuss Apple's business development in China and cooperation in the electronic information sector, emphasizing China's commitment to high-level opening-up and creating a favorable business environment for foreign companies [2] - In September 2025, China's CPI decreased by 0.3% year-on-year, primarily due to a drop in food prices, which fell by 4.4%, impacting CPI significantly [2] - The Bay Area Semiconductor Industry Ecological Expo showcased new domestic EDA design software with a 30% performance improvement over industry benchmarks and a 40% reduction in hardware development cycle [2] - A new high-precision, scalable analog matrix computing chip was developed, achieving a computational throughput and energy efficiency improvement of 100 to 1000 times over current top digital processors [2] - China's oil drilling has reached depths exceeding 10,000 meters, marking a significant advancement in deep earth energy exploration [2] - JD.com announced a collaboration with CATL and GAC Group to develop a new vehicle, leveraging JD's data and channel advantages [2] - SenseTime and Cambricon signed a strategic cooperation agreement to enhance AI infrastructure and explore international markets [2] - Global smartphone shipments increased by 3% in Q3 2025, with Samsung leading the market with a 19% share, followed by Apple at 18% [3] Company Insights - The banking sector has seen a positive relative return after adjustments, with the Shenwan Banking Index rising by 0.28% [5] - The banking sector's PB valuation stands at 0.67x, indicating a favorable position compared to historical levels [5] - Key banks such as Qilu Bank and Agricultural Bank of China reported significant stock price increases, reflecting market confidence [5] - The banking sector is expected to benefit from upcoming mid-term dividends, enhancing the attractiveness of bank stocks for long-term investors [6] - The net interest income for banks is projected to improve, with a stabilization of net interest margins anticipated in Q3 [6] - The average dividend yield for listed banks has increased to 4.4%, making them more appealing to long-term investors [7] - The report suggests a focus on quality mid-sized banks with performance potential and state-owned banks with stable profitability for long-term investments [8] Industry Analysis - The report highlights the importance of the rocket engine components and testing services in the commercial space industry, particularly referencing SpaceX's Falcon 1 rocket development [10] - The Merlin 1A engine is identified as a critical component, with the combustion chamber being a key area of focus for material and manufacturing technology [10] - The report emphasizes the significance of extensive testing in achieving high success rates for rocket launches, with SpaceX achieving a 97.76% success rate [14] - Investment opportunities are identified in companies supplying rocket engine components and those providing testing services for commercial rockets [15]

Core Insights - The superhard materials industry is transitioning from a niche market to a strategic necessity, driven by demand in photovoltaic, semiconductor, and high-end manufacturing sectors [1][3] - The article analyzes the profitability of 27 companies in the superhard materials sector, focusing on 10 core companies based on their comprehensive profitability [1][4] Industry Dynamics - Superhard materials, including synthetic diamonds and cubic boron nitride (CBN), are essential for supporting key industries such as photovoltaics, semiconductors, and advanced manufacturing [3] - Three main demand drivers are identified: - Photovoltaics: Increased demand for diamond wire saws due to larger silicon wafer sizes and thinner wafers [3] - Semiconductors: Diamond substrates are seen as critical materials for the post-silicon era, with potential market sizes reaching hundreds of billions [3] - High-end manufacturing: Demand for precision tools and wear-resistant components is growing, with superhard materials offering significantly longer lifespans compared to traditional tools [3] Company Analysis - **Zhongtung High-tech (000657.SZ)**: Leading in hard alloy tools with a stable ROE of 12.53% and a gross margin of 22.07%, benefiting from a comprehensive industry chain and high technical barriers [4][5] - **Guojijiang Precision (002046.SZ)**: Dual-driven by superhard materials and equipment, with a gross margin of 35.27% and a rising ROE of 8.31% [5][6] - **Xinxin Co., Ltd. (688257.SH)**: Global presence with over 40% of revenue from overseas, showing a gross margin of 31.81% and a ROE of 8.40% [6][7] - **World (688028.SH)**: High-end tool manufacturer with a gross margin of 46.10% and a strong market position in diamond tools [7][8] - **Meichang Co., Ltd. (300861.SZ)**: Dominates the diamond wire market with over 60% market share, benefiting from the photovoltaic sector's growth [8][9] - **Zhongbing Hongjian (000519.SZ)**: Military and superhard materials dual business model, with significant potential for growth as demand increases [9][10] - **Oke Yi (688308.SH)**: Focused on CNC tools with a gross margin of 22.66%, benefiting from strong customer relationships [10] - **Tongyu Heavy Industry (300185.SZ)**: Wind power components and hard alloy business, with a gross margin of 12.73% [10] - **Fuliwang (688678.SH)**: Cross-industry growth with a focus on precision components and diamond wire, showing a gross margin of 24.41% [10] - **Yujing Co., Ltd. (002943.SZ)**: Potential in diamond wire products, with a focus on synergy between equipment and materials [10]

Economic News - The Ministry of Commerce of China has taken countermeasures against five U.S. subsidiaries of Hanwha Ocean Corporation in response to the U.S. investigation into China's maritime, logistics, and shipbuilding sectors [2] - The Chinese automotive industry has seen significant growth in the first nine months of the year, with production and sales reaching 24.43 million and 24.36 million vehicles, respectively, marking year-on-year increases of 13.3% and 12.9% [2] - The China Nuclear Group has made significant progress in key technologies for magnetic confinement nuclear fusion energy extraction, establishing a research platform for liquid metal and helium gas working fluids [2] Company Insights - ZTE Corporation has completed testing for 5G-A cellular passive IoT technology, achieving a 100% success rate in inventory success for both single and multiple tags [4] - CATL has established a new five-year strategic cooperation with Dongfeng Commercial Vehicle, focusing on electric vehicle technology development and market expansion [4] - Tongyu Communication has entered the low-orbit satellite supply chain and received overseas orders, aiming to enhance its capabilities in satellite-ground collaboration [4] Daily Research - The report indicates that external shocks have limited impact on the market, with the A-share market maintaining a mid-term upward trend despite recent volatility [5] - The report suggests a dual mainline investment strategy, emphasizing the importance of the technology sector while also considering cyclical sectors like military, pharmaceuticals, and new energy [6] Satellite Internet Industry - The report reviews the development of SpaceX's Falcon 1 rocket, highlighting the importance of engine components and testing services in the commercial space industry [8] - The Merlin 1A engine is identified as a core component of the Falcon 1 rocket, with the combustion chamber being critical for its performance [9] - The report emphasizes the significance of extensive testing in achieving a high success rate for rocket launches, with SpaceX achieving a 97.76% success rate across its missions [12] Investment Strategy - The report recommends focusing on domestic suppliers of rocket engine components and testing services as promising investment opportunities in the commercial space sector [13] - Specific companies highlighted include Srey New Materials and Guoji Precision Engineering as key players in the rocket engine supply chain [14]