万丰奥威系列 车中旭霞 行业深度 《 eVTOL行业专题：低空经济的先导产业，飞行汽车商业化渐近》——20240516 公司深度 《 万丰奥威（002085.SZ）-汽车轻量化为基，通航飞机打开低空经济成长空间》——20240928 公司点评 《 万丰奥威（002085.SZ）-三季报点评：单三季度净利润同比增长38%，通航飞机和eVTOL业务持续推进》—— 2025Q3万丰奥威实现净利润2.29亿元，同比增长38%。 公司2025年前三季度实现营收114.16亿元，同比+0.40%，归母净利润7.29亿元，同比+29.38%。分季度看，公司 2025Q3实现营收39.22亿元，同比-1.93%，环比-0.14%，归母净利润2.29亿元，同比+38.14%，环比+1.35%。分产品 看，2025年前三季度，公司汽车金属轻量化零部件收入93.85亿元，同比+0.02%，通航飞机制造收入20.31亿元，同比 2025Q3公司净利率同比提升1.3pct。 ——20250508 《万丰奥威（002085.SZ）-三季报点评：单三季度营收环比增长4%，通航飞机打开低空经济成长空间》——20241112 2025Q3公司 ...

公司发布2025 年三季报，归母净利增长。"十五五"纳入低空经济为"战略性新兴产业集群"。持续推进 Volocopter 资源整合，载人 eVTOL产品 TC取证在即。 VoloCity 机型为更先进的eVTOL 产品，能够满足 EASA（欧洲航空安全局）制定的更严格的航空标 准，其在各方面的设计均处于行业领先水平，目前正推进其在 EASA 的TC 取证工作。 风险提示：乘用车产销不及预期，低空经济发展不及预期，原材料价格大幅上涨。 "十五五"纳入低空经济为"战略性新兴产业集群"。据新华社报道，"十五五"规划建议中提及：培育壮大 新兴产业和未来产业。实施产业创新工程，一体推进创新设施建设、技术研究开发、产品迭代升级，加 快新能源、新材料、航空航天、低空经济等战略性新兴产业集群发展。完善产业生态，实施新技术新产 品新场景大规模应用示范行动，加快新兴产业规模化发展。我们认为，随着低空经济相关政策持续推 进，公司通航飞机相关业务有望受益。 持续推进Volocopter 资源整合，载人eVTOL 产品TC 取证在即。 投资要点： 根据公司公告《投资者关系活动记录表》，公司于2025 年3 月收购Volocopter ...

来源：尧望后势 25Q3，险资继续加大权益资产配置规模，权益资产配置比例大幅上升接近历史新高。25Q3险资资产配 置中，银行存款、债券、股票、基金、长期股权投资和其他资产投资比例分别为7.9%、50.3%、 10.0%、5.5%、7.9%和18.4%，其中银行存款和债券的投资比例较二季度分别降低0.7pct/0.8pct，而股票 和基金的投资比例大幅升至15.5%，已十分接近2015年上半年16.1%的历史最高水平。 | 加仓前10 | 证券名称 申万一级 | | 25Q3增持市值 | 股息率 | 减仓前10 | 证券名称 申万一级 | 25Q3减持市值 | 股息率 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | (亿元) | (%) | | | (1270) | (%) | | 601288.SH 农业银行 | | 银行 | 329.1 | 3.63 | 002281.SZ 光迅科技 | 通信 | -7.0 | 0.39 | | 601658.SH 邮储银行 | | 银行 | 125.9 | 3.60 | 002085.SZ ...

证券研究报告 | 2025年11月17日 万丰奥威（002085.SZ） 优于大市 单三季度净利润同比增长 38%，通航飞机和 eVTOL 业务持续推进 2025Q3 万丰奥威实现净利润 2.29 亿元，同比增长 38%。公司 2025 年前三 季度实现营收 114.16 亿元，同比+0.40%，归母净利润 7.29 亿元，同比 +29.38%。分季度看，公司 2025Q3 实现营收 39.22 亿元，同比-1.93%， 环比-0.14%，归母净利润 2.29 亿元，同比+38.14%，环比+1.35%。分产 品看，2025 年前三季度，公司汽车金属轻量化零部件收入 93.85 亿元， 同比+0.02%，通航飞机制造收入 20.31 亿元，同比+2.20%。 2025Q3 公司净利率同比提升 1.3pct。2025Q3 公司毛利率 15.3%，同比 -0.4pct，环比-3.5pct，净利率 6.6%，同比+1.3pct，环比-0.4pct。 汽车轻量化为基，通航飞机+eVTOL 打开低空经济成长空间。1）汽车金属部 件轻量化业务方面，公司持续优化客户结构，加大以铝合金、镁合金为 主导的轻量化金属应用技术研发 ...

证券研究报告 | 2025年11月17日 万丰奥威（002085.SZ） 优于大市 单三季度净利润同比增长 38%，通航飞机和 eVTOL 业务持续推进 2025Q3 万丰奥威实现净利润 2.29 亿元，同比增长 38%。公司 2025 年前三 季度实现营收 114.16 亿元，同比+0.40%，归母净利润 7.29 亿元，同比 +29.38%。分季度看，公司 2025Q3 实现营收 39.22 亿元，同比-1.93%， 环比-0.14%，归母净利润 2.29 亿元，同比+38.14%，环比+1.35%。分产 品看，2025 年前三季度，公司汽车金属轻量化零部件收入 93.85 亿元， 同比+0.02%，通航飞机制造收入 20.31 亿元，同比+2.20%。 2025Q3 公司净利率同比提升 1.3pct。2025Q3 公司毛利率 15.3%，同比 -0.4pct，环比-3.5pct，净利率 6.6%，同比+1.3pct，环比-0.4pct。 汽车轻量化为基，通航飞机+eVTOL 打开低空经济成长空间。1）汽车金属部 件轻量化业务方面，公司持续优化客户结构，加大以铝合金、镁合金为 主导的轻量化金属应用技术研发 ...

11月17日，万丰奥威（维权）盘中下跌2.01%，截至09:54，报16.12元/股，成交1.74亿元，换手率 0.50%，总市值342.28亿元。 资金流向方面，主力资金净流出2441.92万元，特大单买入291.83万元，占比1.68%，卖出1199.31万元， 占比6.90%；大单买入2574.57万元，占比14.82%，卖出4109.00万元，占比23.66%。 万丰奥威今年以来股价跌14.03%，近5个交易日跌3.36%，近20日跌3.12%，近60日跌3.76%。 今年以来万丰奥威已经2次登上龙虎榜，最近一次登上龙虎榜为4月23日，当日龙虎榜净买入1.99亿元； 买入总计3.70亿元 ，占总成交额比23.76%；卖出总计1.72亿元 ，占总成交额比11.02%。 万丰奥威所属申万行业为：汽车-汽车零部件-轮胎轮毂。所属概念板块包括：理想汽车概念、无人机、 小鹏汽车概念、低空经济、汽车零部件等。 截至9月30日，万丰奥威股东户数22.33万，较上期减少8.64%；人均流通股9509股，较上期增加9.46%。 2025年1月-9月，万丰奥威实现营业收入114.16亿元，同比增长0.40%；归母净利润7 ...

财经频道更多独家策划、专家专栏，免费查阅>> 天眼查资料显示，重庆万丰奥威铝轮有限公司，成立于2014年，位于重庆市，是一家以从事金属制品业 为主的企业。企业注册资本20000万人民币。通过天眼查大数据分析，重庆万丰奥威铝轮有限公司参与 招投标项目16次，专利信息55条，此外企业还拥有行政许可111个。 声明：市场有风险，投资需谨慎。本文为AI基于第三方数据生成，仅供参考，不构成个人投资建议。 国家知识产权局信息显示，重庆万丰奥威铝轮有限公司取得一项名为"一种汽车轮毂旋压铸件的铸造模 具"的专利，授权公告号 CN 223544081 U，申请日期为 2024 年 11 月。 专利摘要显示，本实用新型属于电动车零部件技术领域，尤其是一种汽车轮毂旋压铸件的铸造模具，包 括上模板、下模板、侧模板和底模板，侧模板设在上模板和下模板之间，底模板设于下模板的下表面， 上模板的下表面为上形模，下模板的上表面为下形模，侧模板的内表面为侧形模，上模板下表面的中心 处设分流锥，下模板的对应位置开有浇注口侧模板内设有第水冷通道底模板上表面设气冷喷头，底模板 的底部设进气通道；上模板内设第二水冷通道。对第一水冷通道和第二水冷通道内注 ...

Group 1: China Construction - The total new contracts signed by China Construction from January to October reached 3.61 trillion yuan, representing a year-on-year increase of 1% [1] Group 2: Changyuan Power - Changyuan Power's subsidiary received approval for the 100MW wind power project in Songzi, Hubei [2] Group 3: China Metallurgical Group - China Metallurgical Group reported a total new contract amount of 845.07 billion yuan from January to October, a decrease of 11.8% year-on-year, while overseas contracts increased by 7.3% to 71.16 billion yuan [4] Group 4: Shapuaisi - Shapuaisi received approval for clinical trials of deoxycorticosterone ketone solution, intended for use during cataract surgery [5] Group 5: Jianfeng Group - Jianfeng Group's subsidiary received approval for clinical trials of a new drug for treating advanced non-squamous non-small cell lung cancer [7] Group 6: Chongqing Steel - Chongqing Steel announced the resignation of its president Meng Wenwang due to work adjustments [8] Group 7: Tianma Technology - Tianma Technology reported an output of approximately 1732.99 tons of eel in October, with a total output of about 15218.73 tons from January to October [10] Group 8: Qingyuan Co. - Qingyuan Co.'s controlling shareholder reduced holdings of convertible bonds by 685,400 units, accounting for 13.71% of the total issuance [11] Group 9: Spring Airlines - Spring Airlines reported a passenger turnover of 506,200.49 million kilometers in October, a year-on-year increase of 20.06% [12] Group 10: China Merchants Port - China Merchants Port reported a total container volume of 17.1714 million TEUs from January to October, a year-on-year increase of 5.1% [13] Group 11: Yangdian Technology - Yangdian Technology announced a change in control following a share transfer [15] Group 12: Wanfu Biology - Wanfu Biology decided to postpone the implementation of its Knowledge City production base project [16] Group 13: Iwu Biology - Iwu Biology terminated the research project for a specific drug, which will reduce its 2025 net profit by approximately 333.79 million yuan [17] Group 14: Hainan Rubber - Hainan Rubber received an insurance payout of 22.9241 million yuan due to revenue loss from rubber price fluctuations [19] Group 15: Xinjiang Tianye - Xinjiang Tianye plans to establish a joint venture with Tianchi Energy to develop coal chemical projects [20] Group 16: China Coal Energy - China Coal Energy's executive director and president Zhao Rongzhe resigned due to reaching retirement age [22] Group 17: Huading Co. - Huading Co. received approval for a stock issuance to specific investors from the Shanghai Stock Exchange [24] Group 18: Zhongmu Co. - Zhongmu Co. decided to waive its right of first refusal for a 4.04% stake in a subsidiary [25] Group 19: Tianlong Co. - Tianlong Co. reported that its subsidiary's stock issuance was approved by the Beijing Stock Exchange [26] Group 20: Hualan Co. - Hualan Co.'s subsidiary plans to invest 20 million yuan in a biotechnology company [27] Group 21: Haichen Pharmaceutical - Haichen Pharmaceutical received a drug registration certificate for a new injection [28] Group 22: Aier Eye Hospital - Aier Eye Hospital plans to invest 300 million yuan in wealth management products [29] Group 23: Xiamen Engineering Machinery - Xiamen Engineering Machinery announced a planned share reduction by a major shareholder [30] Group 24: Guotai Group - Guotai Group successfully acquired 100% of a mining technology company for 110.1 million yuan [31] Group 25: Wanfeng Aowei - Wanfeng Aowei reached a settlement regarding an arbitration matter with a subsidiary [32] Group 26: Taihe Technology - Taihe Technology is undergoing technical upgrades for its ethylene carbonate project [33] Group 27: Renhe Pharmaceutical - Renhe Pharmaceutical's controlling shareholder plans to reduce holdings by 0.21% [34] Group 28: Changshu Bank - Changshu Bank's second-largest shareholder increased its stake to 3.98% [35] Group 29: Overseas Chinese Town A - Overseas Chinese Town A reported a 57% decrease in contract sales in October [36] Group 30: Canadian Solar - Canadian Solar's controlling shareholder expects total revenue of 1.3 to 1.5 billion USD in Q4 2025 [38] Group 31: Zhonggong Education - Zhonggong Education's controlling shareholder's shares will be auctioned due to a loan dispute [40] Group 32: Aikexibo - Aikexibo's shareholders plan to reduce their holdings by up to 3% [42] Group 33: Wanhua Chemical - Wanhua Chemical's shareholder plans to reduce holdings by up to 0.5% [44] Group 34: Jujie Microfiber - Jujie Microfiber's controlling shareholder plans to reduce holdings by up to 2% [45] Group 35: Wangsu Technology - Wangsu Technology's shareholder plans to reduce holdings by up to 1% [46] Group 36: Tianli Lithium Energy - Tianli Lithium Energy received a patent for lithium-ion battery materials [47] Group 37: Heshun Electric - Heshun Electric won a 40 million yuan project for energy storage services [49] Group 38: Changchun High-tech - Changchun High-tech's subsidiary received FDA approval for a clinical trial of a new drug [51] Group 39: Dongrui Co. - Dongrui Co. received an additional export quota for live pigs to Hong Kong [52] Group 40: Zhongwei Co. - Zhongwei Co. set the H-share issuance price at 34 HKD per share [53] Group 41: Fospower Technology - Fospower Technology plans to invest in a lithium sulfide project with partners [54]

Core Viewpoint - The General Aviation ETF managed by E Fund (159255) opened with a decline of 0.50%, priced at 1.003 yuan, indicating a negative market sentiment towards the sector [1] Group 1: ETF Performance - The General Aviation ETF (159255) has a performance benchmark based on the National General Aviation Industry Index return [1] - Since its establishment on July 25, 2025, the ETF has yielded a return of 0.67%, while its return over the past month has been -5.01% [1] Group 2: Major Holdings Performance - Key holdings in the ETF include Wan Feng Ao Wei, which opened down 0.66%, Hongdu Aviation down 0.24%, and Aerospace Rainbow down 0.14% [1] - Other notable declines include Zhongzhi Shares down 0.19%, Zhuhai Guanyu down 0.85%, Huali Chuantong down 1.08%, Yingliu Shares down 0.94%, Nanjing Power Technology down 0.83%, Ruichuang Weina down 0.55%, and China Satellite down 0.90% [1]

Core Viewpoint - The company Wan Feng Ao Wei announced that its subsidiary, Austria Diamond, has reached a settlement with Shandong Bin Ao regarding arbitration matters, terminating the licensing agreement for the DA40 model in China [1] Group 1 - Austria Diamond and Shandong Bin Ao have amicably resolved arbitration issues and signed the "International Arbitration Award Confirmation Letter" on November 12, 2025 [1] - The licensing agreement between Austria Diamond and Shandong Bin Ao has been terminated, allowing Austria Diamond to cease granting production and sales rights for the DA40 model in China [1] - Both parties confirmed that Austria Diamond has fulfilled all obligations required by the ICC arbitration award [1]