Investment Rating - The investment rating for the company is "Accumulate" [4][6]. Core Insights - The company's performance growth is impressive, with a revenue of 8.076 billion yuan for the first three quarters of 2025, representing a year-on-year increase of 26.88%. The net profit attributable to shareholders reached 1.788 billion yuan, up 26.21% year-on-year, with basic earnings per share of 2.2421 yuan [3][4]. - The company has announced an employee stock ownership plan to enhance governance structure and motivate employees, involving up to 2,100 key employees and a maximum of 1.4412 million shares, accounting for 0.1802% of the total share capital [5]. - The company has shown continuous improvement in expense control, with a period expense ratio of 8.18% for the first three quarters of 2025, down 1.44 percentage points from the same period in 2024. R&D expenses increased to 456 million yuan, a year-on-year growth of 38.57%, with an R&D expense ratio of 5.65% [4]. Financial Summary - For 2025, the company is expected to achieve revenues of 11.054 billion yuan, with a growth rate of 25.4%. The net profit is projected to be 2.463 billion yuan, reflecting a growth rate of 22.5% [9]. - The earnings per share (EPS) for 2025 is estimated at 3.08 yuan, with further increases to 3.75 yuan in 2026 and 4.40 yuan in 2027 [9][6]. - The company’s EBIT is forecasted to be 2.795 billion yuan in 2025, with a growth rate of 25.1% [9].

Market Overview - As of October 27, the Shanghai Composite Index closed at 3996.94 points, with an increase of 1.18% [1] - The Shenzhen Component Index closed at 13489.40 points, up by 1.51% [1] - The ChiNext Index closed at 3234.45 points, rising by 1.98% [1] Trading Activity - A total of 2530 stocks saw an increase in average transaction volume, with 78 stocks experiencing a growth of over 50% [1] - 2034 stocks reported a decrease in average transaction volume [1] - Notable stocks with significant increases in transaction volume include Xinri Co., Haomai Technology, and Changbao Co. [1] Individual Stock Performance - Xinri Co. reported a daily increase of 10.02% with an average transaction volume of 1456 shares, showing a 253.73% increase [1] - Haomai Technology increased by 10.01% with an average transaction volume of 784 shares, reflecting a 206.77% increase [1] - Changbao Co. rose by 9.95% with an average transaction volume of 2716 shares, marking a 197.17% increase [1] - Tianyi Medical saw a significant increase of 20.00% with an average transaction volume of 575 shares, up by 153.85% [1] Active Stocks by Transaction Count - Geer Software had a notable increase in transaction count, rising by 3312.09% with 106,389 transactions [2] - Huajian Group experienced a decrease of 9.99% but had a transaction count increase of 1338.50% with 220,091 transactions [2] - Shanghai Port Bay reported a 1.59% increase with 41,109 transactions, reflecting a 723.50% increase [2] Summary of Notable Stocks - Tianyi Medical, Wanlang Magnetic Plastic, and Jialan Technology all reported significant increases in both transaction volume and count, indicating heightened trading activity [1][2] - Stocks like Xinyuan Co. and Juzhu Co. also showed substantial increases in transaction metrics, suggesting potential investment interest [1][2]

Core Insights - The company has achieved significant revenue growth, with a year-on-year increase of 26.89% in the first three quarters of 2025, reaching 8.076 billion yuan, and a net profit of 1.788 billion yuan, also up by 26.21% [1][2] Financial Performance - In Q3 2025, the company reported revenue of 2.811 billion yuan, a 26.21% increase year-on-year, and a net profit of 592 million yuan, reflecting a 29.49% growth [2] - The gross profit margin for the first three quarters of 2025 was 33.99%, a decrease of 0.95 percentage points year-on-year, while the net profit margin was 22.15%, down by 0.14 percentage points [3] Expense Management - The company’s expense ratio for the first three quarters of 2025 was 8.18%, a decrease of 1.44 percentage points year-on-year. The breakdown of expenses includes sales (0.78%), management (2.62%), R&D (5.65%), and financial expenses (-0.87%) [4] - R&D expenses increased by 38.57% year-on-year, while financial expenses decreased significantly due to increased foreign exchange gains [4] Business Segments - The tire mold business remains stable, benefiting from a recovery in overseas investments by Chinese tire companies, with production expansions in Thailand and Mexico to meet global demand [5] - The demand for large components is strong, driven by the construction of AI computing centers and a booming gas turbine market, with full order books for gas turbine components [5] - The CNC machine tool business is entering a high growth phase, with a 145% year-on-year revenue increase in the first half of 2025, particularly in five-axis machines [5] Profit Forecast - The company maintains its net profit forecasts for 2025-2027 at 2.513 billion, 3.048 billion, and 3.634 billion yuan respectively, with corresponding dynamic P/E ratios of 18, 15, and 13 times [6]

Investment Rating - The report maintains a "Buy" rating for the company [5] Core Insights - The company achieved a revenue of 8.076 billion yuan in the first three quarters of 2025, representing a year-on-year increase of 26.89%. The net profit attributable to shareholders reached 1.788 billion yuan, up 26.21% year-on-year [2] - The company's profitability remains stable, with a gross margin of 33.99%, a slight decrease of 0.95 percentage points year-on-year. The net profit margin was 22.15%, down 0.14 percentage points year-on-year [3] - The demand for large components is strong, and the CNC machine tool business is opening new growth opportunities. The tire mold business remains stable, while the large component machinery products benefit from the booming gas turbine market. The CNC machine tool business saw a significant revenue increase of 145% year-on-year in the first half of 2025 [4] Financial Performance Summary - For 2023A, the total revenue is projected at 7.166 billion yuan, with a year-on-year growth of 7.88%. The net profit attributable to shareholders is expected to be 1.612 billion yuan, reflecting a growth of 34.33% [1] - The company forecasts a total revenue of 11.103 billion yuan for 2025E, with a year-on-year increase of 25.97%. The net profit attributable to shareholders is estimated at 2.513 billion yuan, a growth of 24.95% [1][5] - The earnings per share (EPS) for 2025E is projected to be 3.14 yuan, with a price-to-earnings (P/E) ratio of 18.48 based on the current price [1][5]

Core Viewpoint - Haomai Technology (SZ:002595) experienced a significant stock price increase, closing at 63.87 yuan with a rise of 10.01%, resulting in a total market capitalization of 51.096 billion yuan [1]. Company Summary - Haomai Technology's stock price reached a peak, indicating strong market performance [1]. - The company's market capitalization stands at 51.096 billion yuan, reflecting its substantial valuation in the market [1].

Core Points - The Shanghai Composite Index closed at 3991.35 points, above the six-month moving average, with a gain of 1.04% [1] - The total trading volume of A-shares reached 15,760.10 billion yuan, with 169 A-shares breaking through the six-month moving average [1] Summary of Key Stocks - The stocks with the highest deviation rates from the six-month moving average include Yongfu Co., Ltd. (16.89%), Guotai Group (8.74%), and Haomai Technology (7.96%) [1] - Notable stocks that just crossed the six-month moving average include Shanghai Automotive Parts, Keli Co., and Haiseng Pharmaceutical, with smaller deviation rates [1] Stock Performance Data - Yongfu Co., Ltd. (300712) saw a daily increase of 19.98% with a turnover rate of 9.37% and a latest price of 29.24 yuan, deviating by 16.89% from the six-month average [1] - Guotai Group (603977) increased by 10.00% with a turnover rate of 5.63%, latest price at 13.53 yuan, deviating by 8.74% [1] - Haomai Technology (002595) rose by 10.01% with a turnover rate of 1.60%, latest price at 63.87 yuan, deviating by 7.96% [1]

Investment Rating - The report maintains a "Buy" rating for the company [2] Core Views - The company reported Q3 2025 revenue of 28.11 billion yuan, a year-on-year increase of 26.21%, and a net profit of 5.92 billion yuan, up 29.49% year-on-year, exceeding market expectations [5][9] - The tire mold sector benefits from the growing global automotive ownership and the increasing penetration of new energy vehicles, providing stable demand for the tire industry and consequently the tire mold industry [9] - The CNC machine tool business saw significant growth, with revenue of 5.06 billion yuan in the first half of the year, a year-on-year increase of 145.08% [9] - The company has launched a new employee stock ownership plan to enhance employee motivation, with participation expected from up to 2,100 employees at a price of 30 yuan per share [9] - The profit forecast for 2025-2027 has been raised, with expected net profits of 24.50 billion, 28.28 billion, and 31.99 billion yuan respectively, corresponding to PE ratios of 19X, 16X, and 15X [9] Financial Data and Earnings Forecast - For Q1-3 2025, the company achieved total revenue of 80.76 billion yuan, a year-on-year increase of 26.89%, and a net profit of 17.88 billion yuan, up 26.21% year-on-year [5][7] - The projected total revenue for 2025 is 111.09 billion yuan, with a year-on-year growth rate of 26.0% [7] - The expected earnings per share for 2025 is 3.06 yuan, with a projected gross margin of 34.6% [7]

证券日报网讯 10月24日晚间，豪迈科技发布2025年第三季度报告称，2025年第三季度公司实现营业收 入2，811，250，087.12元，同比增长26.21%；归属于上市公司股东的净利润为591，550，507.07元， 同比增长29.49%。 （文章来源：证券日报） ...

Core Insights - The company reported a third-quarter revenue of 2.811 billion yuan, representing a year-on-year growth of 26.21% [1] - The net profit for the third quarter was 592 million yuan, showing a year-on-year increase of 29.49% [1] - For the first three quarters, the total revenue reached 8.076 billion yuan, with a year-on-year growth of 26.88% [1] - The net profit for the first three quarters was 1.788 billion yuan, reflecting a year-on-year increase of 26.21% [1]

山东豪迈机械科技股份有限公司 2025 年第三季度报告 □是 否 证券代码：002595 证券简称：豪迈科技 公告编号：2025-038 山东豪迈机械科技股份有限公司 2025 年第三季度报告 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。 重要内容提示： 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存 在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报 告中财务信息的真实、准确、完整。 3.第三季度财务会计报告是否经过审计 | | 本报告期 | 本报告期比上年同期 | 年初至报告期末 | 年初至报告期末 | | --- | --- | --- | --- | --- | | | | 增减 | | 比上年同期增减 | | 营业收入（元） | 2,811,250,087.12 | 26.21% | 8,076,365,203.24 | 26.88% | | 归属于上市公司股东的净利润（元） | 591,550,507.07 | 29. ...