Core Viewpoint - Hengdian East Magnetic (002056.SZ) expects a significant increase in net profit for the first three quarters of 2025, projecting a range of 1.39 billion to 1.53 billion yuan, representing a year-on-year growth of 50.1% to 65.2% [2] Group 1: Business Performance - The company maintains its leading position in the magnetic materials industry, with rapid growth in new product shipments in emerging fields such as new energy vehicles and AI servers [2] - The photovoltaic industry is enhancing its differentiated strategy, with high-power products driving growth in both domestic and international markets, supported by effective cost control [2] - In the lithium battery sector, the company focuses on the small power market, ensuring stable quality and high operating rates [2]

Core Viewpoint - The company expects a significant increase in net profit for the first three quarters of 2025, projecting between 1.39 billion to 1.53 billion yuan, representing a growth of 50.1% to 65.2% compared to the same period last year [1] Magnetic Material Industry - The company maintains a leading position in the magnetic material industry, with a continuous increase in market share in the home appliance and automotive sectors [1] - New magnetic products in various fields, including onboard chargers for electric vehicles, charging modules for charging stations, thermal management systems, AI server power supply units, secondary module power supplies, and chip inductors, have seen rapid growth in shipments [1] - Organizational restructuring and digital transformation initiatives have further enhanced operational efficiency and profitability [1] Photovoltaic Industry - The company has strengthened its differentiated strategy through ongoing R&D investments, technological upgrades, and process optimizations, leading to the timely launch of ultra-high power products [1] - The company has effectively increased shipment volumes in both domestic and international quality markets by strategically laying out production capacity and marketing networks [1] - Proactive supply chain management has helped the company effectively manage cost fluctuations [1] Lithium Battery Industry - The company ensures stable product quality through standardized and refined management practices [1] - Focus on small power applications across multiple fields has allowed the company to maintain good market expansion while achieving high operational efficiency [1] - Overall, the company's operating performance for January to September 2025 is expected to show substantial growth compared to the same period last year [1]

证券代码：002056 证券简称：横店东磁 公告编号：2025-063 横店集团东磁股份有限公司 2025 年前三季度业绩预告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 一、本期业绩预计情况 1、业绩预告期间：2025年1月1日—2025年9月30日 2、业绩预告情况：预计净利润为正值且属于同向上升情形 单位：万元 | 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 | | | 比上年同期 增长 | 139,000.00 50.1% | — — | | 153,000.00 65.2% | 92,632.08 | | 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 益 （元/股） | ...

Core Viewpoint - Hengdian East Magnetic achieved a net profit attributable to shareholders of 1.02 billion yuan in H1 2025, representing a year-on-year increase of 58.94% [1] - The company’s Q2 2025 net profit reached 562 million yuan, with a remarkable year-on-year growth of 94.80% [1] Group 1: Financial Performance - The company’s strategic focus is on strengthening its magnetic materials business and developing new energy [1] - The magnetic materials segment is experiencing steady growth, while new products like copper sheet inductors are expected to create new growth points [1] - Despite the backdrop of overcapacity in the photovoltaic sector, the company maintains high growth in shipment volume and continuous improvement in profitability [1] Group 2: Market Outlook - Due to the impact of U.S. tariffs on the company’s production capacity in Indonesia, the profit forecasts for 2025 and 2026 have been slightly adjusted downwards [1] - The projected net profits attributable to shareholders for 2025, 2026, and 2027 are 2.0 billion, 2.29 billion, and 2.55 billion yuan respectively, with corresponding price-to-earnings ratios of 16.9, 14.8, and 13.2 times [1] - The company maintains a "buy" rating despite the adjustments in profit forecasts [1]

Investment Rating - The report maintains a "Market Perform" rating for the solar industry [1] Core Insights - The solar industry has experienced a significant decline in new installations, with August 2025 showing a 55.3% year-on-year decrease, totaling 7.4 GW. However, cumulative installations from January to August 2025 reached 230.61 GW, reflecting a 64.7% increase year-on-year [3][12] - Solar module exports in August 2025 amounted to 20.4% year-on-year growth, with a total export value of 20.95 billion yuan, and a month-on-month increase of 31.9%. Cumulatively, from January to August 2025, exports totaled 132.21 billion yuan, down 18.0% year-on-year [3][14] - Inverter exports also showed a year-on-year increase of 2.2% in August 2025, with a total export value of 6.29 billion yuan, despite a month-on-month decline of 3.4%. Cumulative inverter exports from January to August 2025 reached 43.4 billion yuan, up 8.0% year-on-year [4][22] - Solar power generation in August 2025 increased by 15.9% year-on-year, contributing to 5.75% of the total national power generation, which was 936.3 billion kWh, reflecting a 1.6% year-on-year increase [5][35] Summary by Sections New Installations - In August 2025, new solar installations in China were 7.4 GW, down 55.3% year-on-year and 33.3% month-on-month. Cumulative installations from January to August reached 230.61 GW, up 64.7% year-on-year [3][12] Exports - Solar module exports in August 2025 were valued at 20.95 billion yuan, showing a year-on-year increase of 20.4% and a month-on-month increase of 31.9%. Cumulative exports from January to August totaled 132.21 billion yuan, down 18.0% year-on-year [3][14] - Inverter exports in August 2025 were valued at 6.29 billion yuan, with a year-on-year increase of 2.2% and a month-on-month decrease of 3.4%. Cumulative inverter exports from January to August reached 43.4 billion yuan, up 8.0% year-on-year [4][22] Power Generation - Solar power generation in August 2025 was 53.82 billion kWh, reflecting a year-on-year increase of 15.9% and accounting for 5.75% of the total national power generation [5][35] Investment Recommendations - Key recommendations include companies focused on new technologies such as Aikang Co. and Longi Green Energy, supply-side companies like Daqo New Energy and Flat Glass Group, and companies with overseas layouts such as Bowei Alloy and Hengdian East Magnet. Additionally, companies in energy storage like Sungrow Power Supply and Deye Technology are highlighted [40]

Core Viewpoint - The stock of Hengdian East Magnetic has shown significant growth this year, with a year-to-date increase of 67.45%, indicating strong market performance and investor interest [2]. Stock Performance - As of October 10, the stock price of Hengdian East Magnetic decreased by 2.02%, trading at 20.33 CNY per share with a total transaction volume of 7.52 billion CNY and a market capitalization of 330.71 billion CNY [1]. - The stock has experienced a 12.16% increase over the last five trading days, an 18.02% increase over the last 20 days, and a 43.01% increase over the last 60 days [2]. Financial Performance - For the first half of 2025, Hengdian East Magnetic reported a revenue of 11.936 billion CNY, representing a year-on-year growth of 24.76%, and a net profit attributable to shareholders of 1.020 billion CNY, which is a 59.67% increase year-on-year [3]. Shareholder Information - As of June 30, 2025, the number of shareholders increased by 19.51% to 86,900, while the average circulating shares per person decreased by 16.33% to 18,690 shares [3]. - The company has distributed a total of 4.367 billion CNY in dividends since its A-share listing, with 2.545 billion CNY distributed in the last three years [4]. Institutional Holdings - As of June 30, 2025, Hong Kong Central Clearing Limited is the second-largest circulating shareholder, holding 49.4492 million shares, a decrease of 1.2471 million shares from the previous period [4]. - The Southern CSI 500 ETF is the sixth-largest circulating shareholder, increasing its holdings by 1.7110 million shares to 12.0341 million shares [4].

（文章来源：证券日报） 证券日报网讯横店东磁10月9日在互动平台回答投资者提问时表示，公司生产的锂电池可应用于便携式 储能的小动力领域，但非大型储能项目。公司有延伸布局了户储产品，并与第三方合作参与工商业和大 储市场的拓展。 ...

公司报告 | 半年报点评 横店东磁（002056） 证券研究报告 光伏差异化布局开花结果，出货、业绩双高增 事件：公司 25H1 实现营业收入 119.36 亿元，同比增长 24.75%；实现归母 净利润 10.20 亿元，同比增长 58.94%。25Q2 单季度实现营业收入 67.13 亿 元，同比增长 25.87%；实现归母净利润 5.62 亿元，同比增长 94.80%。 光伏：深化差异化战略，出货量大幅增长。25H1 公司光伏业务实现营业收 入 80.54 亿元，同比增长 36.58%。光伏产品出货 13.4GW，同比增长超 65%。 光伏业务毛利率 16.70%，同比提升 5.29pct。光伏产业稳步推进深度国际 化，海外产能凭借差异化布局， 叠加自身产品的技术和品质优势实现了满 产释放；持续强化差异化竞争策略，海内外优质市场的出货量持续提升， 并积极参与提供下游应用的解决方案；各生产基地通过严控制造成本、突 破产量极限、提升电池量产转换效率和组件平均功率等措施，进一步提升 了产品的竞争力。 磁材器件：收入稳步增长，出货结构优化。2025H1 磁材器件业务实现营 业收入 23.71 亿元，同比增长 8 ...

□ 本报记者丁宏波通讯员梅丛婧 "这次对接太精准了，直接帮我们找到了技术突破方向。"近日，在海安新材料产业集群交流对接会上， 南通瑞诚高分子材料有限公司和常州大学教授一拍即合，达成初步合作意向，公司研发部经理郭晓亮难 掩兴奋。 今年，海安围绕"五群十链"产业布局，整合多方资源推出"三驱联动"机制——银政企研融通资源链、供 需对接激活产业链、人才引育夯实服务链。在"小规模、多频次、高精准"的服务模式下，"更能打"的产 业生态正在海安成形。截至8月，海安规模以上工业企业总数达1396家，居南通首位，其中亿元以上企 业超400家；今年前8月，海安工业开票销售同比增长4.7%，总量列南通第一。 "链"金融活水浇灌专精特新 在海安"功能膜材料"专场活动中，南京大学赖耘教授团队带来的"神奇玻璃"惊艳全场——正面哑光，翻 面瞬间晶莹剔透。专家一介绍完，几位海安企业家立马围上去聊合作。 企业敢干敢闯，背后是海安提供的金融服务保障支撑。招商银行、海安农商行等拿出"专精特新贷""筑 峰强链贷"，现场预授信620亿元。25家银行和50家企业对接，108个合作意向当场敲定。 金融"及时雨"巧妙破解企业"融资难、融资贵"难题。今年，海 ...

证券之星消息，9月29日光伏设备板块较上一交易日上涨2.24%，易成新能领涨。当日上证指数报收于 3862.53，上涨0.9%。深证成指报收于13479.43，上涨2.05%。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) | | | --- | --- | --- | --- | --- | --- | --- | | 300080 | 易成新能 | 5.88 | 20.00% | 129.23万 | | 7.24亿 | | 688717 | 艾罗能源 | 82.90 | 10.53% | 10.94万 | | 8.99亿 | | 300827 | 上能电气 | 35.33 | 8.94% | 77.75万 | | 27.28亿 | | 688147 | 微导纳米 | 56.28 | 7.10% | ● 15.48万 | | 8.43亿 | | 600732 | 爱旭股份 | 16.41 | 6.08% | 70.92万 | | 11.47亿 | | 002056 | 横店东磁 | 20.49 | 6.06% | 89.59万 | | 18.40 ...