Group 1 - The A-share market is expected to continue its upward trend, with a focus on technology, cyclical sectors, and "anti-involution" manufacturing [1][6] - In August, the Shanghai Composite Index rose by 7.97%, the Shenzhen Component Index increased by 15.32%, and the ChiNext Index surged by 24.13% [1] - Multiple brokerages have released their investment portfolios for September, covering various sectors including consumption, technology, and finance [1] Group 2 - The most frequently recommended stocks include ZTE Corporation, which received recommendations from three brokerages, while Kingsoft Office, New Yisheng, Crystal Morning, and Race Intelligent received two recommendations each [4] - ZTE Corporation's stock price increased by 32.52% in August, closing at 45.44 yuan, with a market capitalization of 207.15 billion yuan [5] - New Yisheng had the highest increase in August, with a rise of over 88%, closing at 356.2 yuan [4][5] Group 3 - Brokerages suggest focusing on technology and advanced manufacturing as key growth areas, with high-tech manufacturing maintaining strong profitability [7] - The "anti-involution" policy is expected to promote high-quality industrial development, with a focus on sectors like electric equipment and basic chemicals [8] - Domestic demand policies are anticipated to create opportunities in industries such as machinery, home appliances, automobiles, and consumer electronics [8]

Group 1 - The report highlights a shift in the macro narrative affecting the A-share market, driven by internal policies aimed at demand stimulation and external factors such as a weakening dollar [5][6]. - The report identifies a rotation in investment focus from TMT and manufacturing sectors to other areas, suggesting a potential shift in market dynamics [5][6]. - The report emphasizes the importance of high-low switching strategies in the technology sector, recommending stocks like Kunlun Wanwei, Leisai Intelligent, and Jingchen Co. for investment [5][10][14]. Group 2 - Kunlun Wanwei is focusing on AI business development, with significant advancements in AI chip research and application, leading to a positive outlook for its commercialization potential [10][11]. - Leisai Intelligent is expanding its market share in the automation sector, leveraging its strong product matrix and partnerships to capture growth opportunities [14][15]. - Jingchen Co. is experiencing robust growth in its AIoT and WiFi chip segments, with significant sales increases and a strong customer base [19][20]. Group 3 - Conch Cement is positioned to benefit from supply-side reforms and industry policy improvements, which are expected to enhance profitability and market conditions [24][25]. - Luzhou Laojiao is implementing proactive marketing strategies to adapt to market cycles, aiming to capture demand in emerging consumer segments [30][31]. - Jerry Holdings is poised for recovery as it capitalizes on the resurgence of high-end liquor demand and maintains a strong digital marketing framework [34][35]. Group 4 - New Hope Liuhe is leveraging its integrated supply chain advantages in the fine chemical sector, focusing on vitamin and amino acid production to enhance competitiveness [39][40]. - Xinhecheng is expected to benefit from rising prices in the vitamin market and increased demand for its amino acid products, supported by its strong production capabilities [39][41]. - Newnovel is projected to see significant revenue growth driven by its innovative drug pipeline, particularly in the oncology sector [43][44]. Group 5 - The report anticipates that the financial technology sector, represented by companies like Zhinan Zhen, will continue to grow as it transitions into comprehensive financial service providers [48][49]. - Zhinan Zhen's strategic acquisitions and capital operations are expected to enhance its market position and profitability in the coming years [48][50].

Core Viewpoint - The report by Guojin Securities on Leisai Intelligent highlights stable growth in its main business and the potential for its robotics segment, maintaining a "buy" rating for the company [1]. Financial Performance - In the first half of 2025, Leisai Intelligent achieved revenue of 889 million yuan, a year-on-year increase of 8.3%, and a net profit attributable to shareholders of 120 million yuan, up 2.2% year-on-year, with a gross margin of 38.8%, an increase of 0.7 percentage points [2]. - For Q2 2025, the company reported revenue of 500 million yuan, a year-on-year increase of 13.4%, and a net profit of 60 million yuan, also up 2.2% year-on-year, with a gross margin of 39.1%, remaining stable [2]. Operational Analysis - The industrial control main business is showing steady growth, driven by servo and PLC systems. The domestic OEM automation market grew by 2% year-on-year [3]. - Revenue from the servo system reached 430 million yuan in H1 2025, up 19.3% year-on-year, with a gross margin of 27.6% [3]. - Control technology revenue was 140 million yuan, an increase of 11.3% year-on-year, with PLC revenue growing by 44.1% [3]. - The stepping system faced increased competition, resulting in a revenue decline of 4.1% year-on-year to 310 million yuan, but the gross margin improved by 4.1 percentage points to 42.7% [3]. - The company is focusing on human-shaped robots as a second growth curve, with several large clients testing its products and achieving significant commercial orders [3]. Expense and Cash Flow - In H1 2025, the company's sales, management, and R&D expense ratios were 8.4%, 4.7%, and 11.6%, respectively, reflecting increases due to marketing and new equity incentive costs [4]. - The operating cash flow showed significant improvement, with a net amount of 50 million yuan, a year-on-year increase of 115.9% [4]. Profit Forecast and Valuation - The company is expected to achieve net profits of 260 million yuan, 330 million yuan, and 400 million yuan for 2025, 2026, and 2027, respectively, with year-on-year growth rates of 30%, 25%, and 23% [5]. - The current price corresponds to a PE ratio of 57, 46, and 37 for the years 2025, 2026, and 2027 [5].

Investment Rating - The investment rating for the company is maintained as "Buy" with a target price of RMB 60.20 [1][5]. Core Views - The company's revenue for the first half of 2025 reached RMB 891 million, a year-on-year increase of 8.28%, while the net profit attributable to the parent company was RMB 119 million, up 2.22% year-on-year. The second quarter saw revenue of RMB 501 million, reflecting a year-on-year increase of 13.40% and a quarter-on-quarter increase of 28.27% [1]. - The company is expected to achieve steady growth in its main business through application expansion and sales transformation, with the humanoid robot product layout potentially creating a second growth curve [1]. - The servo system segment reported revenue of RMB 427 million, a year-on-year increase of 19.29%, while the PLC segment saw a significant growth of 44.09% year-on-year, indicating a successful expansion into the servo and PLC fields [2]. - The gross margin for the first half of 2025 was 38.78%, with a net margin of 13.94%. The company experienced a significant improvement in cash flow, with operating cash flow reaching RMB 50 million, a year-on-year increase of 115.87% [3]. - The humanoid business is being developed through subsidiaries focusing on core components and solutions, which is expected to drive revenue growth in this segment [4]. Summary by Sections Financial Performance - For the first half of 2025, the company reported a revenue of RMB 891 million and a net profit of RMB 119 million, with Q2 figures showing a revenue of RMB 501 million and a net profit of RMB 63 million [1]. - The gross margin for the first half was 38.78%, and the net margin was 13.94% [3]. Business Segments - The servo system segment generated RMB 427 million in revenue, up 19.29% year-on-year, while the PLC segment saw a 44.09% increase in revenue [2]. - The humanoid robot business is being developed through various subsidiaries, focusing on core components and solutions [4]. Profitability and Cash Flow - The company achieved a gross margin of 38.78% and a net margin of 13.94% for the first half of 2025, with significant improvements in cash flow [3]. Future Outlook - The company maintains its profit forecast for 2025-2027, expecting net profits of RMB 271 million, RMB 339 million, and RMB 389 million respectively, with corresponding EPS of RMB 0.86, RMB 1.08, and RMB 1.24 [5].

格隆汇8月27日丨雷赛智能(002979.SZ)公布2025年半年度报告，上半年公司实现营业收入8.91亿元，同 比增长8.28%；归属于上市公司股东的净利润1.19亿元，同比增长2.22%；归属于上市公司股东的扣除非 经常性损益的净利润1.16亿元，同比增长1.61%；基本每股收益0.38元。 ...

法定代表人：李卫平 主管会计工作的负责人：游道平 会计机构负责人：颜育新 单位：元 非经营性资金 占用 资金占用方 名称 占用方与上 市公司的关 联关系 上 市 公 司 核 算 的 会 计科目 2025 年期初 占用资金余 额 2025 年 半 年 度 占用累计发生金 额（不含利息） 2025 年半年度 占用资金的利 息（如有） 2025 年半年 度偿还累计 发生金额 2025 年半年 期末占用资 金余额 占用形 成原因 占用性质 控股股东、实际控制 人及其附属企业 小计 - - - 前控股股东、实际控 制人及其附属企业 小计 - - - 其他关联方及其附 属企业 小计 - - - 总计 - - - | 其他关联资金 | 资金往来方 | 往来方与上 | 上 市 司 | 公 | 2025 | 年期初 | 2025 年 年 | 半 | 度 | 2025 | 年半年度 | 2025 | 年半年 | 2025 | 年半年 | 往来形 | 往 来 性 质 （经营性往 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | - ...

深圳市雷赛智能控制股份有限公司 2025 年半年度财务报告 深圳市雷赛智能控制股份有限公司 China Leadshine Technology Co.,Ltd 2025 年半年度财务报告 （未经审计） 2025 年 8 月 一、审计报告 半年度报告是否经过审计 □是 否 二、财务报表 财务附注中报表的单位为：元 1、合并资产负债表 编制单位：深圳市雷赛智能控制股份有限公司 2025 年 06 月 30 日 单位：元 | 项目 | 期末余额 | 期初余额 | | --- | --- | --- | | 流动资产： | | | | 货币资金 | 484,761,653.24 | 286,261,606.77 | | 结算备付金 | | | | 拆出资金 | | | | 交易性金融资产 | 81,256,192.44 | 82,275,385.78 | | 衍生金融资产 | | | | 应收票据 | 123,401,438.81 | 108,659,585.12 | | 应收账款 | 722,197,567.17 | 649,071,545.19 | | 应收款项融资 | 57,738,581.82 | 61,4 ...

[Important Notes, Table of Contents, and Definitions](index=2&type=section&id=第一节%20重要提示、目录和释义) This section provides important disclaimers, the report's table of contents, and definitions of key terms used throughout the report [Important Notes](index=2&type=section&id=重要提示) The company's board of directors, supervisory board, and senior management guarantee the truthfulness, accuracy, and completeness of the semi-annual report, assuming legal responsibility, and state no cash dividends, bonus shares, or capital reserve conversions are planned - The company's board of directors, supervisory board, and senior management guarantee the truthfulness, accuracy, and completeness of the semi-annual report, free from false statements, misleading representations, or major omissions, and assume individual and joint legal responsibility[3](index=3&type=chunk) - Company principal Li Weiping, head of accounting work You Daoping, and head of accounting department Yan Yuxin declare that the financial report in this semi-annual report is true, accurate, and complete[3](index=3&type=chunk) - The company plans not to distribute cash dividends, issue bonus shares, or convert capital reserves into share capital[4](index=4&type=chunk) [Table of Contents](index=3&type=section&id=目录) This section lists the nine main chapters of the report and their starting page numbers, providing investors with quick navigation of the report's content Report Chapter Directory | Chapter | Title | Page Number | | :--- | :--- | :--- | | Section I | Important Notes, Table of Contents, and Definitions | 2 | | Section II | Company Profile and Key Financial Indicators | 6 | | Section III | Management Discussion and Analysis | 9 | | Section IV | Corporate Governance, Environment, and Society | 19 | | Section V | Significant Matters | 23 | | Section VI | Share Changes and Shareholder Information | 41 | | Section VII | Bond-Related Information | 48 | | Section VIII | Financial Report | 49 | | Section IX | Other Submitted Data | 187 | [Directory of Reference Documents](index=4&type=section&id=备查文件目录) This section lists all important documents publicly disclosed by the company during the reporting period, including financial statements, original audit reports, publicly disclosed documents on designated websites, and original announcements, ensuring information traceability and accessibility - Reference documents include financial statements bearing the signatures and seals of the legal representative, head of accounting work, and head of accounting department[9](index=9&type=chunk) - Reference documents include original audit reports bearing the seal of the accounting firm and the signatures and seals of certified public accountants[10](index=10&type=chunk) - Reference documents include the originals of all company documents and announcements publicly disclosed on the China Securities Regulatory Commission's designated website during the reporting period[11](index=11&type=chunk) [Definitions](index=5&type=section&id=释义) This section defines common terms used in the report, covering company names, regulatory bodies, reporting periods, and core technologies and products such as servo systems, stepping systems, motion control cards, motion controllers, PLCs, human-machine interfaces, encoders, frameless motors, and hollow cup motors - "The Company," "Company," or "Leisai Intelligent" refers to Shenzhen Leadshine Intelligent Control Co., Ltd[13](index=13&type=chunk) - "Reporting Period" refers to January 1, 2025, to June 30, 2025[13](index=13&type=chunk) - "Servo System" refers to an automatic control system composed of control variables such as object position, orientation, and state, capable of following arbitrarily changing input targets or given quantities[13](index=13&type=chunk) [Company Profile and Key Financial Indicators](index=6&type=section&id=第二节%20公司简介和主要财务指标) This section provides an overview of the company's basic information, contact details, and a summary of its key accounting data and financial indicators for the reporting period [Company Profile](index=6&type=section&id=公司简介) Shenzhen Leadshine Intelligent Control Co., Ltd. (stock abbreviation: Leadshine Intelligent, stock code: 002979) is listed on the Shenzhen Stock Exchange, with Li Weiping as its legal representative - The company's stock abbreviation is "Leadshine Intelligent," stock code "002979," listed on the Shenzhen Stock Exchange[16](index=16&type=chunk) - The company's Chinese name is Shenzhen Leadshine Intelligent Control Co., Ltd., and its legal representative is Li Weiping[16](index=16&type=chunk) [Contact Person and Contact Information](index=6&type=section&id=联系人和联系方式) The company's Board Secretary is Xiang Shaohua, and the Securities Affairs Representative is Zuo Shiyu; contact address, telephone, fax, and email information are disclosed for investor communication - The Board Secretary is Xiang Shaohua, and the Securities Affairs Representative is Zuo Shiyu[17](index=17&type=chunk) - The company's contact address is 20th Floor, Building B, Zhigu R&D Building, Shuguang Community, Xili Street, Nanshan District, Shenzhen, and its email is ir@leisai.com[17](index=17&type=chunk) [Other Information](index=6&type=section&id=其他情况) During the reporting period, there were no changes in the company's registered address, office address, website, email, information disclosure website and media, or semi-annual report placement, with specific details available in the 2024 annual report - The company's registered address, office address and postal code, website, email, etc., remained unchanged during the reporting period; specific details can be found in the 2024 annual report[18](index=18&type=chunk) - The securities exchange website and media name and URL for the company's semi-annual report disclosure, as well as the company's semi-annual report placement, remained unchanged during the reporting period; specific details can be found in the 2024 annual report[19](index=19&type=chunk) [Key Accounting Data and Financial Indicators](index=7&type=section&id=主要会计数据和财务指标) In the first half of 2025, the company's operating revenue increased by **8.28%** to **891.35 million yuan**, and net profit attributable to shareholders increased by **2.22%** to **118.94 million yuan**, with operating cash flow significantly up by **115.87%** Key Accounting Data and Financial Indicators for H1 2025 | Indicator | Current Reporting Period (yuan) | Prior Year Period (yuan) | YoY Change in Current Period | | :--- | :--- | :--- | :--- | | Operating Revenue | 891,348,438.81 | 823,165,435.39 | 8.28% | | Net Profit Attributable to Shareholders of Listed Company | 118,941,380.71 | 116,357,629.17 | 2.22% | | Net Profit Attributable to Shareholders of Listed Company After Deducting Non-Recurring Gains and Losses | 116,172,640.43 | 114,336,350.16 | 1.61% | | Net Cash Flow from Operating Activities | 50,428,929.93 | 23,360,439.08 | 115.87% | | Basic Earnings Per Share (yuan/share) | 0.38 | 0.39 | -2.56% | | Diluted Earnings Per Share (yuan/share) | 0.38 | 0.39 | -2.56% | | Weighted Average Return on Net Assets | 7.76% | 8.50% | -0.74% | | **End of Current Reporting Period** | **End of Prior Year** | **Change from Prior Year-End** | | Total Assets | 2,725,491,156.31 | 2,378,624,207.32 | 14.58% | | Net Assets Attributable to Shareholders of Listed Company | 1,577,702,758.56 | 1,486,708,637.96 | 6.12% | [Differences in Accounting Data Under Domestic and Overseas Accounting Standards](index=7&type=section&id=境内外会计准则下会计数据差异) During the reporting period, the company reported no differences in net profit and net assets between financial reports prepared under international or overseas accounting standards and those under Chinese accounting standards - The company reported no differences in net profit and net assets between financial reports disclosed simultaneously under International Accounting Standards and Chinese Accounting Standards[22](index=22&type=chunk) - The company reported no differences in net profit and net assets between financial reports disclosed simultaneously under overseas accounting standards and Chinese Accounting Standards[22](index=22&type=chunk) [Non-Recurring Gains and Losses and Amounts](index=7&type=section&id=非经常性损益项目及金额) During the reporting period, the company's total non-recurring gains and losses amounted to **2.77 million yuan**, primarily from government subsidies, disposal gains/losses of non-current assets, and other non-operating income/expenses, after tax and minority interest adjustments Non-Recurring Gains and Losses and Amounts for H1 2025 | Item | Amount (yuan) | Description | | :--- | :--- | :--- | | Gains or losses from disposal of non-current assets (including the write-back of impairment provisions) | 71,791.47 | | | Government subsidies recognized in current profit or loss (excluding those closely related to normal business operations, compliant with national policies, enjoyed according to fixed standards, and having a continuous impact on company profit or loss) | 2,220,914.30 | | | Other non-operating income and expenses apart from the above | 483,984.61 | | | Other profit and loss items meeting the definition of non-recurring gains and losses | 462,873.42 | | | Less: Income tax impact | 461,710.47 | | | Minority interest impact (after tax) | 9,113.05 | | | Total | 2,768,740.28 | | - The company has not classified any non-recurring gains and losses listed in "Interpretive Announcement No. 1 on Information Disclosure by Companies Issuing Securities to the Public – Non-Recurring Gains and Losses" as recurring gains and losses[24](index=24&type=chunk) [Management Discussion and Analysis](index=9&type=section&id=第三节%20管理层讨论与分析) This section provides a comprehensive analysis of the company's main business operations, core competencies

金融界消息 截至2025年8月22日收盘，雷赛智能（002979）报收于48.0元，上涨4.08%，换手率7.63%， 成交量16.65万手，成交金额7.93亿元。 通过天眼查大数据分析，深圳市雷赛智能控制股份有限公司共对外投资了6家企业，参与招投标项目21 次，知识产权方面有商标信息128条，专利信息582条，此外企业还拥有行政许可13个。 来源：金融界 雷赛智能最新一期业绩显示，截至2025一季报，公司营业总收入3.90亿元、同比增长2.36%，归属净利 润5581.95万元，同比增长2.25%，扣非净利润5362.34万元，同比增长0.96%，流动比率2.585、速动比率 2.028、资产负债率36.88%。 天眼查商业履历信息显示，深圳市雷赛智能控制股份有限公司，成立于2007年，位于深圳市，是一家以 从事计算机、通信和其他电子设备制造业为主的企业。企业注册资本30764.0847万人民币，实缴资本 30664.72万人民币。公司法定代表人为李卫平。 资金流向方面，今日主力资金净流入2620.37万元，占比成交额3.3%。其中，超大单净流入2566.40万 元、占成交额3.24%，大单净流入53.97 ...

证券之星消息，8月22日自动化设备板块较上一交易日上涨2.27%，天准科技领涨。当日上证指数报收于 3825.76，上涨1.45%。深证成指报收于12166.06，上涨2.07%。自动化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) | | | --- | --- | --- | --- | --- | --- | --- | | 688003 | 天准科技 | 62.83 | 11.44% | 15.06万 | | 9.02亿 | | 000988 | 华工科技 | 58.63 | 7.48% | 91.45万 | | 52.99 Z | | 688698 | 伟创电气 | 55.80 | 6.86% | 10.88万 | | 5.96亿 | | 300757 | 罗博特科 | 225.30 | 5.68% | 10.40万 | | 23.20亿 | | 301021 | 英诺激光 | 35.96 | 4.08% | 8.24万 | | 2.94亿 | | 002979 | 雷赛智能 | 48.00 | 4.08% | 16.65万 | | 7.93 ...