证券代码：002965 证券简称：祥鑫科技 公告编号：2025-050 祥鑫科技股份有限公司 关于公司部分董事、高级管理人员减持计划实施完成的公告 本公司董事、副总经理和董事会秘书陈振海先生、财务负责人李燕红女士、副总经理 谢洪鑫先生保证向本公司提供的信息内容真实、准确、完整，没有虚假记载、误导性陈述 或重大遗漏。 祥鑫科技股份有限公司（以下简称"公司"）于 2025 年 05 月 24 日披露了《关于公 司部分董事、高级管理人员减持公司股份的预披露公告》（公告编号：2025-032），公司 董事、副总经理和董事会秘书陈振海先生、财务负责人李燕红女士、副总经理谢洪鑫先 生计划自该公告披露之日起 15 个交易日后的三个月内（即 2025 年 06 月 17 日起至 2025 年 09 月 16 日止，法律法规规定不得减持的期间除外）以集中竞价方式分别减持公司股 份不超过 66,612 股、49,250 股、64,834 股，不超过其持有公司股份总数的 25%。若公 司在减持计划实施期间有送股、资本公积金转增股本、配股等股份变动事项的，减持股 份数量将依据公司股本变动进行相应调整。 公司近日收到董事、副总经理和董 ...

证券代码：002965 证券简称：祥鑫科技 公告编号：2025-049 本次活动 将采用网络远程的方式举行，投资者可登录"全景路演"网站 （https://rs.p5w.net）参与本次互动交流，活动时间为 2025 年 09 月 19 日（星期五） 15:30-17:00。届时公司高管将在线就公司 2025 年半年度业绩、公司治理、发展战略、 经营状况、融资计划、股权激励和可持续发展等投资者关心的问题，与投资者进行沟通 与交流，欢迎广大投资者踊跃参与。 特此公告。 祥鑫科技股份有限公司 关于参加 2025 年广东辖区投资者集体接待日活动的公告 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。 为进一步加强与投资者的互动交流，祥鑫科技股份有限公司（以下简称"公司"） 将参加由广东证监局、广东上市公司协会联合举办的"向新提质 价值领航——2025 年 广东辖区投资者集体接待日暨辖区上市公司中报业绩说明会"，现将相关事项公告如下： 祥鑫科技股份有限公司董事会 2025 年 09 月 16 日 ...

Company Overview - Xiangxin Technology Co., Ltd. is located in Dongguan, Guangdong Province, established on May 20, 2004, and listed on October 25, 2019. The company specializes in the research, production, and sales of precision stamping molds and metal structural components [2] - The main business revenue composition includes: precision stamping molds and metal structural components for new energy vehicles (54.24%), fuel vehicles (17.30%), energy storage equipment (16.41%), communication equipment and other components (10.21%), and other income (1.83%) [2] - As of June 30, 2025, the number of shareholders is 41,500, an increase of 33.18% from the previous period, with an average of 4,802 circulating shares per person, a decrease of 2.39% [2] Financial Performance - For the first half of 2025, Xiangxin Technology achieved operating revenue of 3.572 billion yuan, a year-on-year increase of 13.25%, while the net profit attributable to the parent company was 112 million yuan, a year-on-year decrease of 36.37% [2] - The company has distributed a total of 424 million yuan in dividends since its A-share listing, with 309 million yuan distributed in the past three years [3] Stock Market Activity - On September 12, the stock price of Xiangxin Technology fell by 2.02%, trading at 43.68 yuan per share, with a total market capitalization of 11.592 billion yuan [1] - Year-to-date, the stock price has increased by 68.53%, with a 1.79% increase over the last five trading days, a 7.26% decrease over the last 20 days, and an 18.28% increase over the last 60 days [1] - The company has appeared on the "Dragon and Tiger List" three times this year, with the most recent appearance on July 29, where it recorded a net buy of 91.4611 million yuan [1] Institutional Holdings - As of June 30, 2025, among the top ten circulating shareholders, Penghua Carbon Neutral Theme Mixed A (016530) is the second-largest shareholder with 9.7044 million shares, an increase of 3.0705 million shares from the previous period [3] - New institutional shareholders include Yongying Advanced Manufacturing Smart Selection Mixed Fund A (018124) and several others, while Hong Kong Central Clearing Limited has exited the top ten circulating shareholders list [3]

Group 1: Key Insights on Xiangxin Technology (002965.SZ) - The company reported a revenue of 3.6 billion yuan in Q2 2025, representing a year-on-year increase of 22% and a quarter-on-quarter increase of 18% [8] - The automotive parts and accessories manufacturing segment saw a revenue of 1.94 billion yuan, accounting for 54% of total revenue, with a year-on-year growth of 3% [8] - The company is focusing on liquid cooling solutions for servers and robotics, with significant investments in R&D, leading to a 18% increase in R&D expenses [9][10] Group 2: Financial Performance and Projections - For H1 2025, the company achieved a total revenue of 3.6 billion yuan, with a net profit of 110 million yuan, reflecting a year-on-year decrease of 36% [6] - The projected net profits for 2025-2027 are estimated at 350 million, 500 million, and 630 million yuan respectively, with corresponding PE ratios of 33, 23, and 18 [10] Group 3: Industry Context and Growth Opportunities - The company is capitalizing on the growth of the new energy vehicle market, which saw a total sales volume of 6.94 million units, a year-on-year increase of 40% [8] - The communication equipment manufacturing sector is also experiencing growth, with the company’s revenue from this segment reaching 360 million yuan, a year-on-year increase of 146% [8] - The company is developing liquid cooling solutions for both automotive and computing servers, indicating a strategic shift towards high-growth technology sectors [10]

Group 1 - On September 11, Xiangxin Technology conducted a block trade of 52,000 shares, with a transaction amount of 2.0311 million yuan, accounting for 0.23% of the total transaction amount for the day [1][2] - The transaction price was 39.06 yuan, which represents a discount of 12.38% compared to the market closing price of 44.58 yuan [1][2]

Investment Rating - The report maintains a "Buy" rating for the company [6] Core Views - The company reported a revenue of 3.6 billion yuan in Q2 2025, a year-on-year increase of 22% and a quarter-on-quarter increase of 18%. However, the net profit attributable to the parent company was 0.3 billion yuan, a year-on-year decrease of 52% and a quarter-on-quarter decrease of 69% [1] - The automotive parts and accessories manufacturing sector showed steady growth, with the company's revenue from new energy vehicle business reaching 1.94 billion yuan, accounting for 54% of total revenue, a year-on-year increase of 3% [1] - The company is actively investing in new growth areas such as liquid cooling servers and humanoid robots, with R&D expenses increasing by 18% year-on-year [2][3] Financial Performance - In H1 2025, the company's revenue was 3.6 billion yuan, with a year-on-year growth of 13%. The net profit attributable to the parent company was 1.1 billion yuan, down 36% year-on-year [1] - The gross profit margin for H1 2025 was 13.0%, a decrease of 1.9 percentage points year-on-year, while the net profit margin was 3.2%, down 2.4 percentage points year-on-year [2] - The company expects net profits for 2025-2027 to be 0.35 billion, 0.50 billion, and 0.63 billion yuan respectively, with corresponding P/E ratios of 33, 23, and 18 times [3] Business Segments - The automotive parts and accessories manufacturing sector saw a 40% year-on-year increase in new energy vehicle sales, with the company’s revenue from this segment growing by 3% [1] - The communication equipment manufacturing sector experienced significant growth, with the company’s revenue reaching 0.36 billion yuan, a year-on-year increase of 146% [1] - The company is developing liquid cooling solutions for both automotive and computing servers, and has established partnerships with leading companies in the robotics sector [3]

Group 1 - The stock of Xiangxin Technology closed down by 0.66% on September 10, with a closing price of 43.40 yuan [1] - Two block trades occurred, totaling a volume of 121,000 shares and a transaction amount of 4.7577 million yuan [1] - The first transaction was at a price of 39.32 yuan for 51,000 shares, with a transaction amount of 2.0053 million yuan and a premium rate of -9.40% [1] - The second transaction was also at a price of 39.32 yuan for 70,000 shares, with a transaction amount of 2.7524 million yuan and a premium rate of -9.40% [1] Group 2 - In the last three months, the stock has recorded a total of 16 block trades, with a cumulative transaction amount of 53.3951 million yuan [1] - Over the past five trading days, the stock has increased by 2.07%, while the net outflow of main funds totaled 39.2233 million yuan [1]

Core Insights - The demand for liquid cooling solutions in high-density computing servers is increasing due to the rising thermal management requirements driven by AI applications [1] Company Summary - Xiangxin Technology has developed a liquid cooling solution tailored for computing scenarios, leveraging its experience in thermal management from the automotive and battery sectors [1] - The new product features significant improvements in lightweight integrated design, integrated pipeline layout, temperature control precision, and system stability [1]

Core Viewpoint - Xiangxin Technology has launched a new humanoid robot arm optimized for industrial applications, achieving significant advancements in performance, including lightweight design, integrated appearance, control precision, and system stability, thereby supporting the intelligent upgrade of the industrial sector [1] Group 1: Simplified System Integration - The new robot arm features a driver-free plug-and-play design, allowing direct deployment on the main controller, which simplifies the system integration process and reduces deployment costs while improving work efficiency [2] Group 2: Flexible Deployment Solutions - The new robot arm supports multiple working modes, including independent single-arm operation and collaborative dual-arm operation, catering to diverse industrial scenarios and enhancing operational efficiency for tasks requiring high precision and flexibility [3] Group 3: Open Interface Ecosystem - The robot arm includes an open interface ecosystem compatible with the ROS2 system, allowing integration of various sensors and algorithm modules, and supports standard API interfaces for popular programming languages like Python and C++, facilitating secondary development [4] Group 4: High Precision and Easy Maintenance - The robot arm utilizes an asynchronous communication architecture with a command response time of less than 2ms, ensuring quick and accurate execution of operations, while its modular design allows for easy fault localization and maintenance, minimizing downtime [5] Group 5: Safety Assurance Mechanisms - The robot arm incorporates multiple layers of safety protection and intelligent fault handling, with automatic fault isolation capabilities to ensure the safety of operators and equipment, complemented by a visual monitoring interface for real-time status updates [6]

Group 1 - The company, Xiangxin Technology, is actively engaged in the research and production of photovoltaic inverters and energy storage cabinets [2] - The company has established supply relationships with notable clients such as H customer, Jinko Technology, Enphase, and others, providing components for photovoltaic inverters and integrated energy storage system solutions [2] - The company is continuously expanding its strategic customer base in the photovoltaic and energy storage sectors [2]