证券日报网讯 国机精工（002046）9月30日在互动平台回答投资者提问时表示，公司陶瓷球轴承主要应 用于航天航空以及高速机床等领域。 ...

Core Viewpoint - The stock of Guojijiangong experienced a decline of 2.01% on September 30, with a current price of 26.27 CNY per share, reflecting a significant fluctuation in trading activity and investor sentiment [1] Company Overview - Guojijiangong Group Co., Ltd. is located in Zhengzhou, Henan Province, and was established on December 9, 2001, with its listing date on May 26, 2005. The company specializes in the research, production, and sales of bearings and electric spindles, along with technology development services commissioned by various governmental and corporate entities [2] - The main business revenue composition includes: basic components (29.82%), special and precision bearings (29.40%), machine tools (9.99%), superhard material abrasives (9.99%), supply chain management and services (7.17%), high-end equipment (4.91%), and new materials (2.88%) [2] Financial Performance - As of September 20, the number of shareholders for Guojijiangong was 56,200, a decrease of 2.80% from the previous period, with an average of 9,411 circulating shares per shareholder, an increase of 3.20% [3] - For the first half of 2025, Guojijiangong reported a revenue of 1.608 billion CNY, representing a year-on-year growth of 25.14%, while the net profit attributable to shareholders decreased by 1.69% to 174 million CNY [3] Dividend and Shareholding - Since its A-share listing, Guojijiangong has distributed a total of 513 million CNY in dividends, with 312 million CNY distributed over the past three years [4] - As of June 30, 2025, the top ten circulating shareholders included Hong Kong Central Clearing Limited, which held 2.1 million shares, a decrease of 3.7803 million shares from the previous period [4]

Core Viewpoint - The company Guojijinggong (002046.SZ) specializes in ceramic ball bearings primarily used in aerospace and high-speed machine tool applications [1] Group 1 - The company's ceramic ball bearings are mainly applied in the aerospace industry [1] - The ceramic ball bearings are also utilized in high-speed machine tools [1]

Group 1 - The cultivated diamond concept index declined by 0.44% as of the market close on September 29, ranking among the top decliners in the concept sector [1] - Within the cultivated diamond sector, companies such as Chao Hong Ji and Woerde experienced significant declines, while *ST Yazhen, Guoli Electronics, and Chujian New Materials saw increases of 4.52%, 2.86%, and 1.39% respectively [1] - The cultivated diamond sector experienced a net outflow of 376 million yuan in principal funds today, with 11 stocks seeing net outflows, and 7 stocks exceeding 10 million yuan in outflows [2] Group 2 - The top net outflow stock in the cultivated diamond sector was Guoji Jinggong, with a net outflow of 202 million yuan, followed by Jing Sheng Jidian and Chao Hong Ji with net outflows of 69.44 million yuan and 51.89 million yuan respectively [2] - Conversely, the stocks with the highest net inflows included Guoli Electronics, China Gold, and Yuyuan Shares, with net inflows of 19.02 million yuan, 13.97 million yuan, and 7.69 million yuan respectively [2] - The trading volume for Guoji Jinggong was 7.78%, while *ST Yazhen had a trading volume of 2.18% with a gain of 4.52% [3]

Core Insights - The electric spindle market in China is projected to reach 5.677 billion yuan in 2024, with a year-on-year growth of 7.42% driven by the demand for high-precision and complex part processing in high-end manufacturing sectors such as aerospace, automotive, and electronics [1][6][7] - High-speed, high-precision, and high-power electric spindles have become the mainstream choice in the market, significantly enhancing the overall performance and processing capabilities of CNC machine tools [1][6] Industry Overview - Electric spindles integrate the spindle and motor of machine tools, eliminating the need for gearboxes and achieving a compact structure with advantages such as lightweight and good dynamic characteristics [2] - The electric spindle industry is closely linked to the overall development of the motor industry, which is expected to reach a market size of 798.758 billion yuan in 2024, growing by 0.98% [4] Market Size - The demand for electric spindles is expected to rise in tandem with the growth of the CNC machine tool market, which is projected to reach 432.5 billion yuan in 2024, with a year-on-year increase of 5.75% [6][7] Key Companies - Haozhi Electromechanical is a leading global player in the electric spindle market, with a focus on high-speed and precision grinding spindles, achieving a revenue of 703 million yuan in the first half of 2025, up 14.21% year-on-year [9] - Guojijiang Precision Engineering, part of the China National Machinery Industry Corporation, reported a revenue of 1.608 billion yuan in the first half of 2025, marking a 25.14% increase year-on-year [10] Industry Development Trends 1. **Accelerated Technological Iteration**: The industry is experiencing rapid technological advancements, enhancing product performance through new materials and smart technologies [11] 2. **Expansion of Application Fields**: The demand for electric spindles is growing in traditional sectors and emerging fields such as new energy vehicles and semiconductor equipment, creating new market opportunities [12] 3. **Integration of the Supply Chain**: The industry is moving towards deeper domestic substitution and integration, with leading companies enhancing their market positions through mergers and acquisitions [12]

Industry Transformation - Cultivated diamonds are transitioning from decorative items to critical materials in the tech industry, addressing significant thermal management challenges in semiconductor applications [2] - The global cultivated diamond market is undergoing a silent revolution, with China emerging as the dominant producer, accounting for 60% of global output [2][3] - The acceptance of cultivated diamonds is increasing among consumers, with 43% of post-95s opting for customizable cultivated diamond wedding rings [2] Technological Pathways - The two primary methods for synthesizing cultivated diamonds are High Pressure High Temperature (HPHT) and Chemical Vapor Deposition (CVD), with Chinese companies leading in HPHT production [3] - The HPHT method is particularly suited for producing larger diamonds, while CVD is preferred for high-purity diamonds suitable for semiconductor applications [3] - China's diamond production reached 2 billion carats last year, with gem-quality diamonds exceeding 12 million carats, representing 60% of global production [3] Market Potential - The diamond cooling market is projected to grow from $0.5 million in 2025 to $15.24 billion by 2030, with a compound annual growth rate of 214% [1][10] - The demand for high-performance cooling solutions is driven by the increasing thermal density of chips as the semiconductor industry advances towards smaller nodes [2] Key Companies Overview - Zhongbing Hongjian (中兵红箭) is a leading player in the industry, with a significant market share and advanced technology in diamond synthesis for high-end applications [5] - Huanghe Xuanfeng (黄河旋风) has achieved breakthroughs in CVD technology, producing diamonds over 10 carats and collaborating with universities on thermal management solutions [6] - Power Diamond (力量钻石) is recognized for its cost-effective HPHT production and is actively developing diamond materials for semiconductor cooling [7] - Sifangda (四方达) is expanding into CVD diamond production with a new super factory, aiming to become a major player in the market [8] - Guojijinggong (国机精工) is a dual leader in equipment and materials, benefiting from the industry's expansion cycle with a strong market presence [9] Future Outlook - The cultivated diamond industry is entering a phase of explosive growth, with competition intensifying as companies focus on technology, branding, and policy [10] - The market for diamond cooling solutions is expected to reshape the value chain of the diamond industry and influence the competitive landscape of next-generation computing technologies [10]

Core Viewpoint - The stock of Guojijinggong experienced a significant decline, hitting the daily limit down, with a trading volume of 1.453 billion yuan and a turnover rate of 9.42% [2] Group 1: Trading Activity - The stock's price fell by 8.46%, leading to its inclusion on the Shenzhen Stock Exchange's watch list for price deviation [2] - Institutional investors net sold 4.4014 million yuan, while the Shenzhen Stock Connect saw a net purchase of 89.848 million yuan [2] - The top five trading departments accounted for a total transaction volume of 625 million yuan, with net selling of 181 million yuan [2] Group 2: Institutional Participation - Three institutional special seats were involved in trading, with a total buying amount of 48.9664 million yuan and selling amount of 53.3678 million yuan, resulting in a net sell of 4.4014 million yuan [2] - The Shenzhen Stock Connect was the largest buying department with a purchase of 161.543 million yuan and a selling amount of 70.8063 million yuan, leading to a net purchase of 89.848 million yuan [2] Group 3: Recent Performance - Over the past six months, the stock has appeared on the watch list six times, with an average price increase of 3.72% the day after being listed and an average increase of 8.12% in the following five days [3] - The stock saw a net outflow of 377 million yuan in main funds today, with large orders contributing to a net outflow of 190 million yuan and 187 million yuan respectively [3]

Core Viewpoint - Guojin Precision Engineering (002046.SZ) experienced a limit down today with a turnover rate of 9.42% and a transaction volume of 1.453 billion yuan. The stock saw significant trading activity from both institutional and retail investors, indicating a volatile market response [1]. Trading Activity Summary - The stock's trading volume was 1.453 billion yuan, with a net buy of 898.5 million yuan from the Shenzhen Stock Connect, while retail investors showed a net sell of 1.41 billion yuan [1]. - The top five buying entities included the Shenzhen Stock Connect with a purchase amount of 1.606 billion yuan, accounting for 11.06% of total transactions [1][2]. - The top selling entities included retail investors, with "Hujialou" being the largest seller, net selling 1.41 billion yuan, and a quantitative fund net selling 631.4 million yuan [1].

Group 1 - The core viewpoint of the article is that Guojin Precision (国机精工) is actively developing its superhard materials business through its 67% owned subsidiary, Guojin Diamond (河南) Co., Ltd. [1] - Guojin Diamond will focus on key technology research and development in areas such as raw materials, diamond synthesis, structured applications of diamonds, functional applications of diamonds, and related equipment [1]

Core Viewpoint - The company, Guojijinggong (002046.SZ), has indicated its capability to produce harmonic reducer bearings, although the revenue generated from this segment is relatively small, currently in the million yuan range [1]. Group 1 - The company can produce harmonic reducer bearings [1] - The revenue from the company's robotic bearing business is currently at the million yuan level [1]