Financial Performance - The company reported a revenue of 500 million CNY for the first half of 2025, representing a 15% increase compared to the same period last year[18]. - The company's operating revenue for the reporting period was ¥1,082,645,749.25, a decrease of 38.16% compared to ¥1,750,790,443.57 in the same period last year[22]. - The net profit attributable to shareholders was -¥15,824,317.69, representing a decline of 216.78% from ¥13,551,047.08 in the previous year[22]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥30,549,945.48, a decrease of 1,740.73% compared to ¥1,861,975.93 in the same period last year[22]. - The net cash flow from operating activities was ¥172,056,925.42, down 38.93% from ¥281,727,907.98 in the previous year[22]. - The company reported a total comprehensive loss of approximately ¥33.54 billion in the first half of 2025, compared to a comprehensive income of ¥19.66 billion in the first half of 2024[161]. - The company reported a significant increase in financial expenses, rising 93.98% to ¥19,675,272.35 due to higher interest costs from increased bank borrowings[53]. - The company’s financial report for the first half of 2025 was not audited[149]. Market Expansion and Strategy - The company plans to expand its market presence in Southeast Asia, targeting a 25% market share by 2026[18]. - The company has set a performance guidance for the second half of 2025, expecting a revenue growth of 10% to 15%[18]. - The company aims to enhance global competitiveness by accelerating overseas industrial layout and responding to macroeconomic fluctuations[42]. - The company plans to invest a total of 24.023 million USD to establish a photovoltaic glass production line with an annual capacity of 500,000 tons in the UAE[43]. - The company is exploring potential mergers and acquisitions to enhance its market share and operational capabilities[176]. Research and Development - The company has invested 50 million CNY in R&D for new technologies in the first half of 2025, focusing on energy-efficient materials[18]. - The company continues to focus on R&D and innovation in new materials and technologies, with a diversified business model including solar glass and photovoltaic power station projects[30][31]. - The company is committed to technological innovation, continuously pushing for product development and upgrading to meet market demands[44]. - Research and development expenses were ¥31,924,559.92, down 43.83% from ¥56,835,640.14 in the previous year due to fewer projects entering high investment phases[53]. Assets and Liabilities - The company’s total assets as of June 30, 2025, amounted to 1.2 billion CNY, reflecting a 12% increase year-over-year[18]. - Total assets at the end of the reporting period were ¥5,733,094,864.54, an increase of 6.22% from ¥5,397,538,136.65 at the end of the previous year[22]. - The net assets attributable to shareholders decreased by 4.28% to ¥2,874,999,137.70 from ¥3,003,528,017.25 at the end of the previous year[22]. - Total liabilities increased to CNY 2,813,762,065.05 from CNY 2,354,057,922.67, reflecting a growth of approximately 19.5%[153]. Risks and Challenges - The management highlighted potential risks including market volatility and supply chain disruptions, with strategies in place to mitigate these risks[6]. - The company is facing risks from international tariff policy changes, which may adversely affect domestic operations due to trade protectionism and global supply chain restructuring[83]. - The company anticipates increased competition in the photovoltaic glass industry as domestic companies expand production capacity, prompting a focus on technological innovation and cost control[84]. - New investment projects are based on detailed market research, but there are risks associated with long construction cycles and changing market conditions, particularly for overseas projects affected by geopolitical factors[86]. Corporate Governance and Compliance - The company has committed to distributing cash dividends of no less than 10% of the distributable profits achieved in the current year, with a cumulative cash distribution of at least 30% of the distributable profits over the last three years[104]. - The company has promised to strictly adhere to the regulations set by the China Securities Regulatory Commission regarding corporate governance and avoid any unauthorized financial transactions[103]. - There are no stock incentive plans or employee stock ownership plans in place during the reporting period[94]. - The company has not engaged in any violations regarding external guarantees during the reporting period[107]. Product Development - New product development includes the launch of a photovoltaic AR glass, which is projected to enhance solar panel efficiency by 5%[18]. - The company specializes in the manufacturing and sales of photovoltaic glass, including anti-reflective coated photovoltaic AR glass and ultra-thin double-glass components[188]. - The company has established environmental and energy management systems, promoting green manufacturing and energy conservation, and has been recognized as a national-level green factory[100]. Shareholder Information - The company has a total of 199,062,500 shares, with 426,375 shares being limited sale condition shares, representing 0.21%[135]. - The company has a total of 25,165 common stock shareholders at the end of the reporting period[138]. - The actual controllers and shareholders of the company have committed not to transfer or entrust the management of their shares within 36 months from the date of the company's stock listing[102].

Core Points - Yamaton has experienced a decline of 5.12% on August 27, with a stock price of 21.13 yuan per share and a total market capitalization of 4.206 billion yuan [1] - The company has seen a cumulative drop of 4.38% over the past three days [1] Company Overview - Yamaton, established on September 11, 2006, and listed on October 13, 2011, is located in Changzhou, Jiangsu Province [1] - The company's main business involves the research and development of photovoltaic glass coating materials and technologies, production of photovoltaic glass coatings, and sales of photovoltaic coated glass [1] - Revenue composition includes: 90.58% from solar glass, 5.37% from electronic glass and others, 1.66% from electricity sales, 1.42% from solar components, and 0.98% from other sources [1] Fund Holdings - The Caixin Advanced Manufacturing Smart Selection Mixed Fund A (019612) holds 31,300 shares of Yamaton, representing 2.36% of the fund's net value, ranking as the tenth largest holding [2] - The fund has incurred a floating loss of approximately 35,700 yuan today, with a total floating loss of 31,900 yuan during the three-day decline [2] Fund Manager Performance - The fund manager Zhu Haidong has a tenure of 6 years and 45 days, with a total asset scale of 1.478 billion yuan and a best return of 61.83% during his tenure [3] - Co-manager Gu Hongyuan has a tenure of 4 years and 95 days, managing assets of 484 million yuan, with a best return of 47.19% during his tenure [3]

8月27日，亚玛顿跌5.12%，截至发稿，报21.13元/股，成交2.04亿元，换手率4.66%，总市值42.06亿 元。亚玛顿股价已经连续3天下跌，区间累计跌幅4.38%。 资料显示，常州亚玛顿股份有限公司位于江苏省常州市天宁区青龙东路616号，成立日期2006年9月11 日，上市日期2011年10月13日，公司主营业务涉及光伏玻璃镀膜材料技术和工艺技术的研发,光伏玻璃 的镀膜生产以及光伏镀膜玻璃销售。主营业务收入构成为：太阳能玻璃90.58%，电子玻璃及其他玻 5.37%，电力销售1.66%，太阳能组件1.42%，其他0.98%。 从亚玛顿十大流通股东角度 数据显示，金元顺安基金旗下1只基金位居亚玛顿十大流通股东。金元顺安元启灵活配置混合 （004685）一季度新进十大流通股东，持有股数65.94万股，占流通股的比例为0.33%。根据测算，今日 浮亏损失约75.17万元。连续3天下跌期间浮亏损失67.26万元。 金元顺安元启灵活配置混合（004685）成立日期2017年11月14日，最新规模13.5亿。今年以来收益 32.37%，同类排名1735/8194；近一年收益62.08%，同类排名1498/796 ...

通过天眼查大数据分析，常州亚玛顿股份有限公司共对外投资了11家企业，参与招投标项目71次，知识 产权方面有商标信息63条，专利信息510条，此外企业还拥有行政许可37个。 金融界消息 截至2025年8月25日收盘，亚玛顿（002623）报收于22.8元，下跌0.18%，换手率6.37%，成 交量12.66万手，成交金额2.88亿元。 来源：金融界 资金流向方面，今日主力资金净流出1815.52万元，占比成交额6.31%。其中，超大单净流出267.40万 元、占成交额0.93%，大单净流出1548.12万元、占成交额5.38%，中单净流出流入568.37万元、占成交 额1.98%，小单净流入1247.14万元、占成交额4.34%。 亚玛顿最新一期业绩显示，截至2025一季报，公司营业总收入5.60亿元、同比减少36.80%，归属净利润 504.94万元，同比减少58.25%，扣非净利润294.69万元，同比减少162.28%，流动比率1.778、速动比率 1.713、资产负债率46.21%。 天眼查商业履历信息显示，常州亚玛顿股份有限公司，成立于2006年，位于常州市，是一家以从事电气 机械和器材制造业为主的企 ...

Core Viewpoint - Changzhou Yamaton Co., Ltd. has obtained a patent for a "modular splicing photovoltaic tile component structure," indicating innovation in the photovoltaic tile technology sector [1] Company Summary - Changzhou Yamaton Co., Ltd. was established in 2006 and is located in Changzhou, primarily engaged in the manufacturing of electrical machinery and equipment [1] - The company has a registered capital of 199.0625 million RMB [1] - Yamaton has invested in 11 enterprises and participated in 71 bidding projects [1] - The company holds 63 trademark registrations and 510 patent records, along with 38 administrative licenses [1] Industry Summary - The newly patented modular splicing photovoltaic tile component structure includes a front frameless glass layer, encapsulation film layers, a battery string layer, and a back frameless glass layer, showcasing advancements in photovoltaic technology [1] - The design features installation holes and waterproof strips, enhancing the structural integrity and functionality of photovoltaic tiles [1]

Market Overview - The A-share market opened with all three major indices rising, with the Shanghai Composite Index up by 0.12%, continuing to reach a 10-year high [1] - The Shenzhen Component Index increased by 0.33%, while the ChiNext Index rose by 0.28% [1] Sector Performance - The cross-border payment concept saw significant gains, with Tianrongxin hitting the daily limit, and Zhongyou Capital and Sifang Jingchuang both rising over 9% [1] - Brokerage stocks experienced a broad rally, with Zhongyin Securities increasing by over 5%, and Hatou Securities and Dongxing Securities both rising over 3% [1] - The photovoltaic equipment sector faced adjustments, with Huamin Co. dropping over 4% and Yamaton falling over 3% [1] - The rare earth permanent magnet concept initially declined, with Jintian Co. falling over 8% and Dongfang Zirconium dropping over 5% [1]

证券之星消息，8月20日光伏设备板块较上一交易日上涨0.98%，联泓新科领涨。当日上证指数报收于 3766.21，上涨1.04%。深证成指报收于11926.74，上涨0.89%。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) | | | --- | --- | --- | --- | --- | --- | --- | | 003022 | 联汕新科 | 21.22 | 10.01% | 45.71万 | | 9.37 亿 | | 300345 | 委展股份 | 8.79 | 6.93% | 123.08万 | | 11.36亿 | | 002623 | 亚玛顿 | 23.00 | 5.17% | 34.93万 | | 8.15 亿 | | 300751 | 迈为股份 | 80.41 | 3.82% | 8.17万 | | 6.46亿 | | 300724 | 捷佳伟创 | 77.09 | 3.50% | 26.71万 | | 20.47亿 | | 834770 | 艾能案 | 20.58 | 3.26% | 16.50万 | | 3.57亿 | ...

Group 1 - The Science and Technology Innovation 50 Index rose over 3%, reaching a new high for the year, driven by a collective surge in chip stocks [1] - Companies such as Jimin Health, Hanzhong Precision Machinery, and Kesen Technology have seen consecutive trading gains, with Jimin Health achieving a five-day streak [1] - The AI server market is dominated by Inspur Information, which holds over 50% market share in China and has reported a 64.39% year-on-year increase in net profit for the first quarter [1] Group 2 - The domestic leading companies are making significant advancements, with Nvidia reportedly developing an AI chip specifically for the Chinese market [3] - Companies like Fullchai Power and Yuanlin Co. have also seen consecutive trading gains, indicating strong market performance [3] - The company Guangxin Technology is a leader in optical modules and has partnered with Cisco to launch a 1.6T silicon optical module [3] Group 3 - The domestic automotive sector is witnessing significant developments, with China FAW planning to acquire approximately 10% of Leap Motor [6] - Companies like Mould Technology and Shentong Express are also making strides, with Mould Technology providing components for new energy vehicles [6] - The automotive thermal management sector is led by companies like Hanzhong Precision Machinery, which specializes in compressors and refrigeration products [8] Group 4 - The pharmaceutical industry is seeing a surge in domestic innovative drugs going global, with Tianmu Pharmaceutical being the first listed company in traditional Chinese medicine [7] - Companies like Huahai Pharmaceutical are advancing in the development of innovative drugs, with over 20 projects currently in research [7] - The automotive passive safety system sector is represented by companies like Songyuan Safety, which reported a 30.85% year-on-year increase in net profit [7]

Group 1: Aerospace and Defense Sector - Zhongtian Rocket experienced a limit-up increase of 9.99%, with other companies like Zhong Wuyunji, AVIC Chengfei, and Aero Engine Corporation of China also seeing significant gains [1][2] - The overall performance of the aerospace and defense sector is strong, indicating positive market sentiment towards military equipment stocks [1] Group 2: Alcohol Industry - Jiugui Liquor reached a limit-up increase of 10.00%, while other companies such as Shede Liquor and Shui Jing Fang also saw notable gains [4][5] - The rebound in the liquor sector suggests a recovery in consumer demand and investor confidence in alcohol stocks [4] Group 3: Solar Energy Sector - Yamaton and Huamin Co. both hit the limit-up mark, increasing by 10.01% and 9.49% respectively, with several other solar energy stocks also performing well [5][6] - The solar energy sector is showing resilience and growth potential amidst broader market fluctuations [6] Group 4: Market Overview - The Shanghai Composite Index opened lower, down 0.28%, while the ChiNext Index fell by 1.14%, indicating a challenging market environment for many sectors [8][9] - The overall market sentiment is mixed, with certain sectors like solar energy and alcohol showing strength while others, particularly in AI hardware, are experiencing declines [8][9]

Group 1: Liquor Industry Performance - The liquor stocks are experiencing a rebound, with JiuGuiJiu reaching a limit up of 10% [2] - Other notable performers include SheDe JiuYe up 7%, and ShuiJingFang, LaoBaiGan Jiu, YingJiaGong Jiu, and LuZhou LaoJiao also showing gains [2] - The overall trend indicates a positive sentiment in the liquor sector, as multiple stocks are following the upward movement [2][3] Group 2: Solar Equipment Sector Activity - The solar equipment sector is showing strong performance, with YaMaTon and HuaMin shares hitting the limit up of 10% and 9.49% respectively [4] - Other companies in this sector, such as AiNengJu and YiJing GuangDian, are also experiencing significant gains [4] - This indicates a robust interest and investment in the solar equipment market despite broader market fluctuations [4] Group 3: Market Overview - The A-share market opened lower, with the Shanghai Composite Index down 0.28%, Shenzhen Component Index down 0.61%, and ChiNext Index down 1.14% [5][6] - The overall market sentiment is bearish, with nearly 4,500 stocks declining across the Shanghai, Shenzhen, and Beijing markets [6] - The technology sector, particularly AI hardware, is facing notable declines, while the solar sector is performing well [5][6] Group 4: Currency and Monetary Policy - The People's Bank of China conducted a reverse repurchase operation of 616 billion yuan with a rate of 1.40%, resulting in a net injection of 497.5 billion yuan for the day [9] - The Chinese yuan depreciated against the US dollar by 25 basis points, with the central parity rate reported at 7.1384 [10]