Core Insights - The report emphasizes the importance of proactive discovery in investment opportunities rather than merely relaying information [2] Industry Updates - The upcoming Bay Chip Exhibition will focus on advanced semiconductor processing equipment, attracting attention to related stocks such as Aopu Optoelectronics (002338) and Guolin Technology (300786) [7] - The industrial software sector is entering a golden investment cycle, benefiting from increased domestic production rates, with key stocks including Zhongkong Technology (688777) and Dingjie Smart (300378) [7] - The Ministry of Industry and Information Technology has announced the launch of commercial trials for satellite IoT services, with relevant stocks being Zhenyou Technology (688418) and Qifeng Precision (920169) [7] Company Highlights - Heyuan Gas (002971) has signed a gas supply contract worth 768 million yuan with Dingyi New Materials, set to commence in July 2026 for a duration of ten years [9] - Jinggong Steel Structure (600496) reported new contracts worth 17.98 billion yuan in the first three quarters of 2025, with international business increasing by 87.3% year-on-year [9] - Hengdian East Magnetic (002056) expects a net profit of 1.39 billion to 1.53 billion yuan for the first three quarters of 2025, representing a year-on-year growth of 50.1% to 65.2% [9] - Mingyang Smart Energy (601615) plans to invest 1.5 billion pounds to establish the UK's first integrated wind turbine manufacturing base in Scotland [9] Market Review and Outlook - On October 13, the market showed resilience with major indices recovering from initial declines, with the STAR Market Index rising over 1% in the afternoon session [10] - The total trading volume in the Shanghai and Shenzhen markets was 2.35 trillion yuan, a decrease of 160.9 billion yuan from the previous trading day [10] - Key sectors such as rare earth permanent magnets, semiconductor, and non-ferrous metals saw significant gains, while automotive parts and gaming sectors faced declines [10] - The report suggests that despite short-term uncertainties, there remains strong buying interest, indicating potential low-entry opportunities in popular sectors during adjustments [10]

Core Viewpoint - Hengdian East Magnetic (002056) expects a significant increase in net profit for the first three quarters of 2025, with a forecasted net profit attributable to shareholders ranging from 1.4 billion to 1.53 billion yuan, reflecting a year-on-year growth of 50.1% to 65.2% [1] Group 1: Business Performance - The company's three core business segments—magnetic materials, photovoltaics, and lithium batteries—demonstrated strong resilience during the reporting period, contributing to substantial overall profit growth through business synergy and differentiated competition strategies [2] - The magnetic materials segment, as the foundational business, has seen a continuous increase in market share in traditional sectors such as home appliances and automobiles, ensuring stable revenue growth [2] - By the end of 2024, the company is expected to have an annual production capacity of 290,000 tons of magnetic materials, with a projected shipment of 232,000 tons of ferrite magnetic materials in 2024, marking a 17% year-on-year increase [2] Group 2: Photovoltaic Sector - The photovoltaic segment has achieved growth despite intensified industry competition, with a strategic focus on differentiated products [3] - The company has established an annual production capacity of 23 GW for batteries and 21 GW for modules, with a projected module shipment of 17.2 GW in 2024, representing a 73% year-on-year increase [3] - The company is expected to ship nearly 20 GW in the first three quarters of 2025, surpassing the total shipments of the previous year [3] Group 3: Lithium Battery Sector - The lithium battery segment has also significantly contributed to profit growth, focusing on small power applications across various fields [3] - The company currently has an annual production capacity of 8 GWh for lithium batteries, ranking among the top three in the domestic cylindrical small power battery industry [3] - In the first half of 2025, the company shipped over 300 million units, reflecting a year-on-year growth of 12.25% [3] Group 4: Industry Development - The three industries in which Hengdian East Magnetic operates are experiencing favorable development cycles driven by policy support and market demand [4] - In the magnetic materials sector, the demand for high-performance materials is rising due to the rapid development of new industries such as electric vehicles and AI [4] - The photovoltaic sector benefits from the global energy transition, with long-term market demand remaining strong despite short-term supply-demand adjustments [4] - The small power lithium battery market is expanding due to the increasing prevalence of electric two-wheelers, electric tools, and smart home applications [4]

Core Viewpoint - The company, Hengdian East Magnetic, is expected to achieve significant profit growth in the first three quarters of 2025, driven by its strong performance in the magnetic materials, photovoltaic, and lithium battery sectors [2][3][4]. Financial Performance - For the first three quarters of 2025, Hengdian East Magnetic anticipates a net profit of 1.39 billion to 1.53 billion yuan, representing a year-on-year increase of 50.1% to 65.2% [3][4]. - The company's net profit for the first half of 2025 was 6.1 billion yuan, accounting for nearly 60% of its net profit for that period [5]. - The company has shown consistent growth in net profit over the past nine years, increasing from 441 million yuan in 2016 to 1.827 billion yuan in 2024, a growth of over three times [4]. Business Segments - In the magnetic materials sector, Hengdian East Magnetic has solidified its leading position, increasing market share in the home appliance and automotive industries [4]. - The photovoltaic segment has benefited from a differentiated strategy, with significant improvements in product offerings and market reach, leading to a revenue increase of 36.58% in the first half of 2025 [7]. - The lithium battery segment has maintained stable product quality and market expansion, focusing on small power applications [4][7]. Investment and Development - The company has been actively investing in new projects, including three photovoltaic power generation projects in Jiangsu with a total investment of approximately 5.269 billion yuan [6]. - Hengdian East Magnetic has a strong commitment to research and development, with a total of 1,846 effective patents and significant R&D expenditures totaling 3.369 billion yuan from 2021 to mid-2025 [8]. Asset and Liability Management - As of June 30, 2025, the company's total assets reached 25.33 billion yuan, with a debt-to-asset ratio of 56.99%, indicating a solid financial position [4][7].

Core Insights - The low-altitude economy sector saw a slight increase of 0.19% on October 13, with *ST Dongtong leading the gains [1] - The Shanghai Composite Index closed at 3889.5, down 0.19%, while the Shenzhen Component Index closed at 13231.47, down 0.93% [1] Stock Performance - *ST Dongtong (300379) closed at 2.31, up 12.14% with a trading volume of 1.08 million shares and a transaction value of 242 million yuan [1] - Xuguang Electronics (600353) closed at 20.87, up 10.02% with a trading volume of 957,400 shares and a transaction value of 1.909 billion yuan [1] - Changying Technology (688143) closed at 44.10, up 6.55% with a trading volume of 160,500 shares and a transaction value of 261 million yuan [1] - New Clean Energy (605111) closed at 37.99, up 6.38% with a trading volume of 452,900 shares and a transaction value of 1.690 billion yuan [1] - Hengdian East Magnet (002056) closed at 21.48, up 5.40% with a trading volume of 970,600 shares and a transaction value of 2.005 billion yuan [1] Capital Flow - The low-altitude economy sector experienced a net outflow of 2.225 billion yuan from institutional investors, while retail investors saw a net inflow of 2.087 billion yuan [2] - The overall capital flow indicates a mixed sentiment, with institutional investors pulling back while retail investors are actively buying [2][3]

证券之星消息，10月13日光伏设备板块较上一交易日下跌1.6%，易成新能领跌。当日上证指数报收于 3889.5，下跌0.19%。深证成指报收于13231.47，下跌0.93%。光伏设备板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 300716 | ST泉为 | 14.71 | 7.14% | 6.67万 | | 9504.73万 | | 002056 | 横店东磁 | 21.48 | 5.40% | 97.06万 | | 20.05亿 | | 603398 | *ST沐邦 | 8.48 | 4.95% | 47.89万 | | 3.78亿 | | 688556 | 昌涧股份 | 12.06 | 4.69% | 76.94万 | | 9.04亿 | | 301266 | 宇邦新材 | 35.82 | 4.25% | 6.36万 | | 2.24亿 | | 300842 | 竞科股份 | 71.70 | 3.09% | 9.09万 | | 6.27亿 | | ...

横店东磁（002056）曾不断创下新高的净利润数据，预计在2025年三季度小幅下降。业内人士称，在美 国关税政策阴影下，横店东磁在印尼的光伏业绩面临较大不确定性。 10月13日，横店东磁（证券代码：002056）公布了前三季度业绩预告。数据显示，今年前三个月，其归 属于上市公司股东的净利润预计为13.9亿元—15.3亿元，同比增长50.1%—65.2%。 | 项目 | | 本报告期(2025年1-9月) | | 上年同期 | | --- | --- | --- | --- | --- | | 归属于上市公司 股东的净利润 | | 139,000.00 | 153,000.00 | 92.632.08 | | | 比上年同期 增长 | 50.1% | 65.2% | | | 扣除非经常性损 益后的净利润 | | 140,000.00 | 153,000.00 | 88.513.45 | | | 比上年同期 增长 | 58.2% | 72.9% | | | 基本每股收益 (元/股) | | 0.87 | 0.95 | 0.57 | 对于业绩变动原因，横店东磁表示系公司在磁材产业、光伏产业、锂电产业三大业务板块布局 ...

数据显示，广发基金旗下1只基金位居横店东磁十大流通股东。广发高端制造股票A（004997）二季度 减持1756.56万股，持有股数1132.01万股，占流通股的比例为0.7%。根据测算，今日浮盈赚取约1177.29 万元。 广发高端制造股票A（004997）成立日期2017年9月1日，最新规模44.64亿。今年以来收益12.78%，同 类排名3456/4220；近一年亏损2.95%，同类排名3787/3855；成立以来收益45.6%。 广发高端制造股票A（004997）基金经理为郑澄然。 10月13日，横店东磁涨5.1%，截至发稿，报21.42元/股，成交17.22亿元，换手率5.16%，总市值348.44 亿元。 截至发稿，郑澄然累计任职时间5年148天，现任基金资产总规模135.23亿元，任职期间最佳基金回报 58.24%， 任职期间最差基金回报-49.65%。 资料显示，横店集团东磁股份有限公司位于浙江省东阳市横店华夏大道233号东磁大厦，成立日期1999 年3月30日，上市日期2006年8月2日，公司主营业务涉及永磁铁氧体、软磁铁氧体、其他磁性材料(永磁 烧结料粉和永磁粘结料粉)及电池、太阳能光伏产品 ...

光伏ETF（515790）基金经理为李茜、李沐阳。 截至发稿，李茜累计任职时间5年345天，现任基金资产总规模393.51亿元，任职期间最佳基金回报 89.32%， 任职期间最差基金回报-18.35%。 李沐阳累计任职时间4年282天，现任基金资产总规模212.73亿元，任职期间最佳基金回报137.86%， 任 职期间最差基金回报-42.62%。 10月13日，横店东磁涨5.1%，截至发稿，报21.42元/股，成交17.22亿元，换手率5.16%，总市值348.44 亿元。 资料显示，横店集团东磁股份有限公司位于浙江省东阳市横店华夏大道233号东磁大厦，成立日期1999 年3月30日，上市日期2006年8月2日，公司主营业务涉及永磁铁氧体、软磁铁氧体、其他磁性材料(永磁 烧结料粉和永磁粘结料粉)及电池、太阳能光伏产品的生产和销售。主营业务收入构成为：光伏产品 67.47%，磁性材料16.24%，锂电池10.77%，器件3.62%，其他(含其他业务收入)1.89%。 从横店东磁十大流通股东角度 数据显示，华泰柏瑞基金旗下1只基金位居横店东磁十大流通股东。光伏ETF（515790）二季度减持 3.98万股，持有股 ...

Core Viewpoint - The stock price of Hengdian East Magnetic has experienced significant movement, rising by 5.50% as of 14:19 today, with a trading volume of 82.6184 million shares and a transaction amount of 1.694 billion yuan, indicating strong market interest [2] Financial Performance - The latest earnings forecast from the company indicates an expected net profit of 1.39 billion to 1.53 billion yuan for the first three quarters, representing a year-on-year growth of 50.10% to 65.20% [2] Market Activity - Over the past five days, the main funds for Hengdian East Magnetic have shown a net inflow, totaling 69.2537 million yuan, despite a net outflow of 30.5684 million yuan on the previous trading day [2] - As of October 10, the margin trading balance for the stock is 758 million yuan, with a financing balance of 755.6 million yuan, reflecting an increase of 82.4641 million yuan over the past five days, which is a growth rate of 12.24% [2]

截至2025年10月13日 14:16，中证光伏产业指数(931151)下跌2.17%。成分股方面涨跌互现，石英股份 (603688)领涨5.12%，横店东磁(002056)上涨3.88%，上能电气(300827)上涨1.30%；捷佳伟创(300724)领 跌6.25%，阿特斯(688472)下跌5.67%，罗博特科(300757)下跌4.95%。光伏ETF基金(516180)下跌 1.94%，最新报价0.76元。拉长时间看，截至2025年10月10日，光伏ETF基金近2周累计上涨1.71%。 光伏ETF基金紧密跟踪中证光伏产业指数，中证光伏产业指数从主营业务涉及光伏产业链上、中、下游 的上市公司证券中，选取不超过50只最具代表性的上市公司证券作为指数样本，以反映光伏产业上市公 司证券的整体表现。 国金证券指出，光伏产业链价格和盈利底部明确，"反内卷"推进以来参与主体持续扩大、产品价格修复 效果显著，我们认为光伏行业有望通过顶层支持+市场化淘汰+技术迭代结合的方式实现供给侧改善， 预计后续关于产能、产品质量等相关的政策组合拳将陆续落地，驱动产业链景气度持续修复 数据显示，截至2025年9月30日，中证光伏产业 ...