Core Viewpoint - The company, Nichiha Precision Machinery (002520.SZ), is facing significant financial challenges, with expected losses in the first half of 2025 projected to increase by over 800% year-on-year due to the poor performance of its overseas subsidiaries, Airwork and MCM [1][3][4]. Financial Performance - The company has experienced a decline in revenue for three consecutive years since 2022, with net losses of CNY 1.53 billion, CNY 903 million, and CNY 675 million from 2022 to 2024 respectively [2]. - For the first half of 2025, the company anticipates a net loss of CNY 224 million to CNY 333 million, representing an increase of 855.45% to 1323.55% compared to the previous year [3]. Overseas Subsidiaries - The losses are primarily attributed to the underperformance of Airwork and MCM, both of which are overseas subsidiaries acquired by the company [1][4]. - Airwork's aircraft leasing business has significantly contracted due to global economic fluctuations and geopolitical conflicts, leading to a substantial decline in revenue and profits [4]. - MCM is also facing severe operational challenges, exacerbated by the European economic downturn and rising costs, resulting in an expanded loss in the first half of 2025 [4][7]. Asset Management and Debt - Airwork has been taken over by a syndicate due to failure to reach an agreement on asset sales to repay loans, with a remaining loan balance of approximately USD 88.31 million (around CNY 632 million) as of June 30, 2025 [5][6]. - The company has recognized the need for asset impairment provisions due to the forced disposal of Airwork's collateral assets for debt repayment [7]. - MCM has initiated bankruptcy protection procedures due to liquidity crises and operational difficulties, further complicating the company's financial situation [7][8]. Long-term Borrowing - Airwork has maintained substantial long-term borrowing, primarily for operational funding and capital expenditures, which is typical in the capital-intensive aircraft operation industry [11]. - The company has faced scrutiny regarding the necessity of maintaining high levels of long-term debt, which has been used for aircraft purchases and upgrades [11].

Core Viewpoint - Zhejiang Rifa Precision Machinery Co., Ltd. is expected to report a significant net loss of between 222.3 million to 333 million yuan for the first half of 2025, marking an increase in losses of 855.45% to 1323.55% year-on-year, the highest loss growth in nearly three years [1] Group 1: Financial Performance - The company's net profit loss, excluding non-recurring gains and losses, is projected to be between 232 million to 346 million yuan, reflecting a year-on-year increase of 867.38% to 1342.73% [1] - Basic earnings per share are expected to be a loss of 0.298 to 0.444 yuan, a significant increase from the loss of 0.031 yuan per share in the same period last year [1] - The company has experienced a continuous trend of expanding losses over three consecutive half-year periods, with the first half of 2024 showing a loss of 22.8 million yuan and a total loss of 315 million yuan for the entire year [1] Group 2: Operational Challenges - The significant loss expansion is attributed to two main issues: a decline in demand for high-end CNC machine tools, particularly due to reduced investment in the aerospace manufacturing sector, and the new digital intelligent equipment business not yet providing effective profit support, which continues to strain cash flow [2] - The financial downturn is exacerbated by the bankruptcy proceedings of two overseas subsidiaries, Airwork in New Zealand and MCM in Italy, leading to full impairment risks for the company's investments [2] - Airwork was taken over by a syndicate due to loan defaults, while MCM's net assets deteriorated to -57.3 million yuan, prompting a court application for bankruptcy restructuring [2] Group 3: Market Reaction - The company attributes its losses to changes in the macroeconomic environment and cyclical adjustments in the industry, but has not disclosed specific countermeasures [3] - There has been a 300% increase in investor inquiries regarding cash flow pressures and timelines for returning to profitability, but the company has responded uniformly by stating "as per the announcement information" [3] - The company's stock has dropped 37.6% this year, underperforming the high-end equipment sector index by 260 basis points, with institutional investor holdings decreasing by 14.2% since the beginning of the year [3]

7月14日，日发精机发布公告，预计2025年上半年归母净利润亏损2.23亿元-3.33亿元，同比亏损增加 855.45%-1323.55%。由于两家海外子公司一家被银团接管、一家启动破产保护，这家昔日工业母机龙头 的海外版图正在崩塌。 巨亏背后，是高溢价并购埋下的商誉地雷持续引爆。从业绩承诺爽约到股东对簿公堂，再到如今资产失 控，日发精机跨界扩张的美梦终成难以挣脱的枷锁。 继大股东被立案、海外资产失控后，日发精机（002520.SZ）再爆业绩大雷。 资料显示，日发精机前身为浙江新昌日发精密机械有限公司，2000年由日发集团和吴捷等6位自然人采 用整体变更方式设立股份有限公司，并于2010年登陆深交所。目前，日发精机主要从事数字化智能机床 及产线、航空航天智能装备及产线、智能制造生产管理系统软件的研制及服务和飞机租售等运营服务。 受海外资产爆雷、大幅计提商誉减值等影响，日发精机自2022年以来延续营收下滑、净利亏损势头。其 中2024年，公司实现营收18.04亿元，同比下降13.4%，净利润亏损6.75亿元；最近三年，日发精机累计 亏损约31.08亿元。 溢价并购后遗症频发 海外资产接连爆雷 此次业绩亏损源于两 ...

浙江日发精密机械股份有限公司 关于控股股东及其一致行动人股份解除质押及质押的 公告 本公司及董事会全体成员保证公告内容真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏。 特别提示： 公司控股股东浙江日发控股集团有限公司（以下简称"日发集团"）及其一 致行动人吴捷先生合计质押公司股份数量为 211,210,000 股，占其合计持有公司 股份数量的比例为 99.9955%，请投资者注意相关风险。 浙江日发精密机械股份有限公司（以下简称"公司"）接到控股股东日发集 团的通知，获悉其近日办理完成公司股份解除质押及质押登记手续，具体情况如 下： 证券代码：002520 证券简称：日发精机 编号：2025-044 | 一、股东股份本次解除质押的基本情况 | | --- | | 股东 | 是否为控股 | 本次解除质 | 本次解除质 | 本次解除质 | 质押 | 质押 | 质权人 | | --- | --- | --- | --- | --- | --- | --- | --- | | 名称 | 股东及其一 | 押股份数量 | 押占其所持 | 押占公司总 | 开始日 | 解除日 | | | | 致行动人 | （股） ...

Market Overview - As of July 14, the Shanghai Composite Index closed at 3519.65 points, up by 9.47 points, a rise of 0.27% [1] - The Shenzhen Component Index closed at 10684.52 points, down by 11.58 points, a decrease of 0.11% [1] - The ChiNext Index closed at 2197.07 points, down by 10.03 points, a decline of 0.45% [1] Stock Performance - A total of 79 A-shares had a turnover rate exceeding 20%, with two stocks, Xinling Electric and C Tongyu, having turnover rates above 50%, indicating significant trading activity [1] - The top-performing stock by turnover rate was Xinling Electric (301388) with a turnover rate of 70.84% and a price increase of 19.99%, closing at 42.13 yuan [1] - C Tongyu (301630) had a turnover rate of 54.09% but experienced a price drop of 12.50%, closing at 177.66 yuan [1] Notable Stocks - Other notable stocks with high turnover rates include: - Zhongke Magnetic (301141) with a turnover rate of 45.77% and a price decrease of 5.10%, closing at 70.85 yuan [1] - Yihau New Materials (301176) with a turnover rate of 42.23% and a price increase of 8.05%, closing at 37.30 yuan [1] - Hengbao Co. (002104) with a turnover rate of 40.85% and a price decrease of 7.58%, closing at 22.20 yuan [1] Additional Insights - The trading activity reflects a mixed sentiment in the market, with some stocks experiencing significant gains while others faced declines [1][2][3]

证券代码：002520 证券简称：日发精机 编号：2025-043 浙江日发精密机械股份有限公司 2025 年半年度业绩预告 本公司及董事会全体成员保证公告内容真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏。 一、本期业绩预计情况 1、业绩预告期间：2025 年 1 月 1 日至 2025 年 6 月 30 日； 2、预计的业绩：√亏损 □扭亏为盈 □同向上升 □同向下降 三、业绩变动原因说明 本报告期业绩亏损的主要原因如下： 1、Airwork 公司经营业绩亏损 受全球宏观经济环境波动及地缘政治冲突等多重因素叠加影响，Airwork 公 司的飞机租赁业务规模大幅缩减，与该业务相关的收入及利润较去年同期均出现 明显下降；同时，其飞机及相关资产出售状况不及预期，未能达成既定目标。因 此，Airwork 公司本报告期延续亏损态势，经营状况尚未出现实质性改善。 2、Airwork 公司计提资产减值准备 自 2025 年 7 月 2 日起，银团已正式对 Airwork 公司采取接管措施。银团已 | 项目 | 本报告期 | | | 上年同期 | | | --- | --- | --- | --- | --- ...

Market Overview - The Shanghai Composite Index rose by 0.48% on July 10, with 18 out of 28 sectors experiencing gains, led by real estate and petrochemicals, which increased by 3.19% and 1.54% respectively [1] - Conversely, the automotive and media sectors saw declines of 0.62% and 0.54% respectively [1] Capital Flow Analysis - The main capital outflow from the two markets totaled 13.025 billion yuan, with 10 sectors seeing net inflows [1] - The non-bank financial sector had the highest net inflow, amounting to 3.470 billion yuan, while the real estate sector followed with a net inflow of 2.228 billion yuan [1] Mechanical Equipment Sector Performance - The mechanical equipment sector experienced a slight decline of 0.05%, with a total net capital outflow of 2.771 billion yuan [2] - Out of 531 stocks in this sector, 219 stocks rose, while 294 stocks fell, with 3 stocks hitting the daily limit up [2] - The top three stocks with net inflows were: - Houp Co., Ltd. (厚普股份) with a net inflow of 154 million yuan and a rise of 15.72% - Beijing Capital Co., Ltd. (京城股份) with a net inflow of 136 million yuan and a rise of 6.37% - Robotec Co., Ltd. (罗博特科) with a net inflow of 97 million yuan and a rise of 4.09% [2] Mechanical Equipment Sector Outflow - The top three stocks with significant net outflows were: - Giant Lifting (巨力索具) with a net outflow of 350.79 million yuan and a decline of 6.09% - Dafeng Industrial (大丰实业) with a net outflow of 181.79 million yuan and a rise of 3.59% - Rifa Precision Machinery (日发精机) with a net outflow of 179.38 million yuan and a decline of 3.91% [3]

Group 1 - The humanoid robot concept stocks are experiencing significant fluctuations, with companies like Nippon Denso (日发精机) hitting the daily limit up [1] - Feirongda (飞荣达) and Zhaowei Electromechanical (兆威机电) have seen their stock prices increase by over 7% [1] - Other companies such as Huqin Technology (华勤技术), Shiyun Circuit (世运电路), and Noli Co., Ltd. (诺力股份) are also witnessing upward trends in their stock prices [1] Group 2 - There is a notable influx of dark pool funds into these stocks, indicating increased investor interest [1]

Core Viewpoint - The company, Rifa Precision Machinery (日发精机), is facing significant challenges due to the receivership of its subsidiary Airwork, which has defaulted on loans and has five Boeing aircraft detained in Russia, impacting its financial performance and future prospects [1][2][3]. Group 1: Company Financial Situation - As of July 2, 2023, Airwork has been placed under receivership due to a loan default, with the outstanding principal balance of the loan amounting to approximately 63.2 million yuan (8.83 million USD) [1]. - The company reported cumulative losses of 3.108 billion yuan (approximately 450 million USD) from 2022 to 2024, with net losses of 1.530 billion yuan, 903 million yuan, and 675 million yuan for the respective years [6]. - The subsidiary, Italian MCM, has also been in a state of continuous loss, contributing to the overall financial difficulties of Rifa Precision Machinery [6][7]. Group 2: Impact of Airwork's Situation - Airwork has five Boeing 757 aircraft detained in Russia, which has led to significant asset impairment provisions totaling 741 million yuan (approximately 104 million USD) [3]. - The company attempted to negotiate with Russian clients for the return of the aircraft but has faced challenges due to international sanctions following the Russia-Ukraine conflict [3]. - Airwork has initiated legal proceedings against its insurance providers to seek compensation for the detained aircraft, indicating a proactive approach to mitigate financial losses [4]. Group 3: Business Operations and Strategy - Rifa Precision Machinery has expanded its overseas operations significantly, with foreign revenue reaching 1.416 billion yuan (approximately 200 million USD) by the end of 2024, accounting for 78.47% of total revenue [5]. - The company has diversified its business through acquisitions, including the purchase of Italian MCM, which has provided access to advanced manufacturing technologies and high-profile clients [5]. - Despite the growth in overseas revenue, the company has experienced stagnation since 2019, with foreign income fluctuating between 1.4 billion yuan and 1.6 billion yuan [6].

Core Viewpoint - Airwork has undergone a change in control due to the appointment of a receiver by the syndicate, following a failure to reach an agreement on the extension of loan terms, leading to a potential asset seizure or forced sale [1][2]. Group 1: Company Situation - On July 2, the syndicate took control of Airwork, and the company is now under receivership, with its board's rights revoked [1]. - Airwork's outstanding syndicate loan principal is approximately $88.31 million, due by June 30, 2025, and was previously extended to July 31, 2026 [1]. - The company has faced significant revenue declines due to geopolitical conflicts, with aircraft leased to Russian clients being detained, impacting its ability to repay loans [2]. Group 2: Risk Mitigation Efforts - Airwork is pursuing insurance claims and potential aircraft sales to mitigate risks associated with its financial situation [2]. - The company has indicated that it will strategically divest weaker business segments to manage overall operational risks [3]. Group 3: Future Outlook - The company has fully recognized goodwill impairment related to Airwork in 2022 and asset impairment in 2024, suggesting that risks associated with Airwork have been largely addressed [3]. - Future strategic focus will be on high-end equipment manufacturing and providing integrated solutions for digital factories across various sectors, including aerospace and new energy vehicles [3].