华测检测最新一期业绩显示，截至2025一季报，公司营业总收入12.87亿元、同比增长7.96%，归属净利 润1.36亿元，同比增长2.75%，扣非净利润1.25亿元，同比增长11.00%，流动比率2.747、速动比率 2.681、资产负债率20.42%。 天眼查商业履历信息显示，华测检测认证集团股份有限公司，成立于2003年，位于深圳市，是一家以从 事专业技术服务业为主的企业。企业注册资本168282.8214万人民币，实缴资本168282.8169万人民币。 公司法定代表人为万峰。 通过天眼查大数据分析，华测检测认证集团股份有限公司共对外投资了67家企业，参与招投标项目5000 次，知识产权方面有商标信息171条，专利信息345条，此外企业还拥有行政许可124个。 来源：金融界 金融界消息 截至2025年8月1日收盘，华测检测（300012）报收于12.27元，上涨0.82%，换手率1.68%， 成交量24.06万手，成交金额2.96亿元。 资金流向方面，今日主力资金净流入3923.06万元，占比成交额13.25%。其中，超大单净流入2526.89万 元、占成交额8.53%，大单净流入1396.17万元、占 ...

Group 1: Investor Relations Activities - The company conducted multiple broker strategy meetings from June 9 to August 1, 2025, involving various investment firms and asset management companies, with a total of 13 meetings held [1][2][3][4]. - Participants included notable firms such as JP Morgan Asset Management, Baillie Gifford, and Antipodes, among others, indicating strong interest from institutional investors [1][2][3][4]. Group 2: Performance and Growth Strategy - The company reported steady growth in the first half of the year, driven by customer-oriented management, the implementation of the "123 strategy," and improvements in operational efficiency through AI and digitalization [4][5]. - The company aims to deepen lean management and pursue strategic mergers and acquisitions to sustain long-term growth [4]. Group 3: Operational Efficiency and Technology - There is potential for further improvement in operational efficiency, with ongoing initiatives in lean culture and digital transformation [5][6]. - The company has developed a four-layer collaborative system architecture for AI applications, enhancing automation in business processes and improving service efficiency [6]. Group 4: International Expansion and Acquisitions - The company is committed to an internationalization strategy, focusing on strategic acquisitions and building a global service network [7][8]. - Recent acquisitions include the full acquisition of ALS Group's branch in China and Safety SA, which will enhance the company's capabilities in geochemical analysis and food safety [9][10]. Group 5: Talent Development and Organizational Capability - The company emphasizes talent development as a core competitive advantage, investing in training and creating a diverse assessment and incentive mechanism [11][12]. - Initiatives include cross-departmental talent mobility and leadership development programs to enhance organizational capabilities [12]. Group 6: Response to National Policies - The company actively responds to national supply-side reforms by enhancing service quality and investing in emerging sectors such as transportation, healthcare, and green technologies [12]. - This strategic alignment with national policies is expected to strengthen the company's market position and drive sustainable growth [12].

华测检测7月31日大宗交易平台共发生5笔成交，合计成交量749.17万股，成交金额9334.66万元。成交价 格均为12.46元，相对今日收盘价溢价2.38%。 证券时报·数据宝统计显示，华测检测今日收盘价为12.17元，下跌2.33%，日换手率为2.41%，成交额为 4.24亿元，全天主力资金净流出7081.14万元，近5日该股累计下跌3.79%，近5日资金合计净流出1.44亿 元。 （文章来源：证券时报网） | 成交量 | 成交金额 | 成交价 | 相对当日收盘 | | | | --- | --- | --- | --- | --- | --- | | （万 | （万元） | 格 | 折溢价（%） | 买方营业部 | 卖方营业部 | | 股） | | （元） | | | | | 240.00 | 2990.40 | 12.46 | 2.38 | 中信证券股份有限公司深圳 | 中信证券股份有限公司深 | | | | | | 分公司 | 圳分公司 | | 170.00 | 2118.20 | 12.46 | 2.38 | 华泰证券股份有限公司广州 | 中信证券股份有限公司深 | | | | | | 兴民路证券 ...

7月31日，华测检测大宗交易成交749.17万股，成交额9334.66万元，占当日总成交额的18.05%，成交价 12.46元，较市场收盘价12.17元溢价2.38%。 ...

Core Insights - The materials testing industry is crucial in the application of new materials, with significant growth driven by the demand from strategic sectors like new energy and semiconductors in China [1][6] - The global materials testing market is projected to reach $6.8 billion in 2024, with China's market expected to grow to 13 billion yuan, and further growth anticipated in 2025 [4][6] Industry Definition - The materials testing industry involves the examination, analysis, and evaluation of various materials' composition, performance, structure, safety, reliability, and environmental impact [2] - It covers a wide range of materials including metals, non-metals, polymers, composites, and biomaterials, serving multiple sectors such as industrial manufacturing, construction, aerospace, automotive, electronics, new energy, and medical devices [2] Current Development Status - The demand for materials testing is primarily focused on the quality, performance, and safety of construction materials, with significant growth attributed to advancements in testing technology and increased emphasis on product quality and safety [4] - The global materials testing market is expected to grow to $7.1 billion by 2025, with specific sectors like rail transportation and aerospace projected to see substantial increases in testing demand [4] Industry Value Chain - The upstream of the materials testing industry includes instruments, consumables, standards, data and software, and talent, with a reliance on imported high-end testing equipment [8] - The downstream includes diverse demand for testing services across various industries, particularly emerging sectors like new energy and semiconductors, which drive technological upgrades in testing [8] Competitive Landscape - The materials testing service market features a multi-tiered and differentiated competitive structure, with both international giants and local firms competing [12] - Key domestic players include Huace Testing, China Certification & Inspection Group, and PONY Testing, while international competitors include SGS, BV, and Intertek [12][13] Industry Development Trends - The materials testing industry is evolving towards smart and digital solutions, sustainability, and increased localization, driven by advancements in new materials technology and global quality standards [14]

人民财讯7月30日电，近期，华测检测（300012）与希腊Emicert公司完成控股权收购的协议签署，预计 将于2025年第三季度完成控股权交割。此次战略收购是华测检测在可持续发展领域进军欧盟市场的重要 节点，通过整合Emicert在欧盟的温室气体审核资质，填补了华测检测在欧盟境内EU-ETS、CORSIA、 IMO DCS、产品碳足迹、碳边境调节机制(CBAM)等温室气体领域合格评定服务的空白。 ...

Core Viewpoint - The company,华测检测, is expected to benefit from the increasing demand for "Three Consistencies" certification driven by government policies aimed at promoting the integration of domestic and foreign trade [1]. Group 1: Company Performance - As of July 29, 2025,华测检测's stock closed at 12.59 yuan, up by 0.96%, with a turnover rate of 2.09%, a trading volume of 299,200 shares, and a transaction value of 373 million yuan [1]. - On the same day, the net outflow of main funds was 3.94 million yuan, while retail investors saw a net inflow of 3.08 million yuan [2]. Group 2: Industry Insights - The "Three Consistencies" policy, which refers to products produced on the same production line, under the same quality standards, and achieving the same quality level, aims to enhance the integration of domestic and foreign trade [1]. - This policy, initiated in November 2021 and reiterated in December 2023, is expected to lead to a growing demand for related certifications, which the company is well-positioned to meet due to its extensive laboratory network and professional team [1].

Core Viewpoint - The announcement of the Yarlung Tsangpo River downstream hydropower project, with a total investment of approximately 1.2 trillion yuan, has sparked significant interest in the capital market, leading to a surge in related A-share sectors, particularly the hydropower sector, which saw a cumulative increase of 21.9% from July 21 to July 22 [1] Company Involvement - Zhejiang Fuhua Holdings has reported ongoing projects in pumped storage, with orders amounting to approximately 2 billion yuan, and has experience in high-altitude hydropower projects [3] - Far East Holdings is actively following the Yarlung Tsangpo project and is optimizing its products for the unique characteristics of the project [3] - Xihigh Institute has noted that the project will support the development of surrounding solar and wind energy resources, creating a clean energy base [4] - Rigong Energy Technology focuses on power engineering construction and has a history of providing monitoring products for major hydropower projects [4] - Zhongyuan Co. plans to participate in the bidding for equipment related to the Yarlung Tsangpo project [5] - China Electric Power Construction has confirmed its involvement in the project [7] - Huace Testing is providing environmental monitoring services for the project [7] - Jiu Steel Hongxing is prioritizing business related to the Yarlung Tsangpo project [8] - Henghua Technology emphasizes the market opportunities presented by the project and its alignment with the company's product offerings [9] - Hualing Cable has experience in major hydropower projects and is preparing to engage with the Yarlung Tsangpo project [10]

Summary of Conference Call Transcript Industry Overview - The discussion revolves around the testing and inspection services industry, particularly focusing on physical and chemical testing methods [1][2]. Key Points and Arguments - **Testing Categories**: - Testing is categorized into physical and chemical types. Physical testing assesses physical properties and parameters, requiring higher capital investment and longer construction cycles [1]. - Chemical testing focuses on chemical indicators, with lower equipment dependency and a higher proportion of labor involvement, leading to shorter testing cycles and lower costs [2]. - **Market Dynamics**: - The physical testing sector has higher barriers to entry due to capital and talent requirements. The low-altitude economy is highlighted as a policy-driven sector that may spur demand for physical testing services [3]. - The semiconductor industry is experiencing rapid growth, driven by domestic substitution trends and the division of labor within the semiconductor supply chain [4]. - **Company Performance**: - 华策检测 (Huace Testing) is identified as the largest private third-party testing institution in China, with a significant focus on life sciences and environmental testing, contributing to 50% of its revenue [7]. - 广电计量 (Guangdian Measurement) achieved a 77% profit growth last year, benefiting from its involvement in high-demand sectors like new energy vehicles and semiconductors [9]. - 苏氏事业 (Sushi Industry) is expected to recover from previous downturns, with increasing capacity utilization and a forecast for double-digit growth this year [10]. Additional Important Insights - **Profitability Trends**: - The overall profitability of physical testing is expected to improve due to structural optimization and the development of emerging industries, which will contribute to profit margins [6]. - 华策检测 is projected to maintain stable revenue growth of 5% to 10% and a profit increase of around 10% this year, excluding government subsidies [9]. - **Future Outlook**: - The industry anticipates potential stimulus policies to boost domestic demand and the impact of local government debt on economic recovery [11]. - Recommendations for investment focus on four companies, including 华特检测 (Huate Testing), 广联计量 (Guanglian Measurement), and 苏日试验 (Suri Testing) [11]. This summary encapsulates the key insights from the conference call, highlighting the dynamics of the testing services industry, company performances, and future expectations.

Summary of Conference Call Records Company Overview - **Companies Involved**: 华测检测 (HuaCe Testing) and 广电计量 (Guangdian Measurement) - **Industry**: Testing and Measurement Services Key Points from HuaCe Testing 1. **Overall Performance**: HuaCe Testing's 2024 performance is in line with expectations, showing steady growth, but with varied performance across business segments [1][2] 2. **Environmental Testing**: Significant impact from the national soil survey, leading to expected pressure in 2025, with recovery anticipated in 2026 [1][4] 3. **Food and Agricultural Testing**: Maintains steady growth; increased demand from pet food and cosmetics testing [1][4] 4. **Industrial Testing**: Growth linked to industrial value-added; expected low-speed growth in 2025 [1][4] 5. **Consumer Testing**: Benefiting from new energy vehicles and semiconductor testing; currently in a loss-reduction phase [1][4] 6. **Trade Assurance**: High market share and gross margin, maintaining about 10% steady growth over the years [1][4] 7. **Medical and Pharmaceutical Testing**: Facing significant pressure but showing signs of recovery due to increased investment in innovative drug development [1][4][6] 8. **Profitability**: Net profit margin peaked at 18.02% in 2022, expected to decline to 15.33% in 2024 due to various pressures [1][10] 9. **Strategic Development**: Implementing a "123" strategy for differentiated development across business segments, enhancing new business expansion and operational efficiency [1][5] 10. **International M&A**: Successful acquisitions in Southeast Asia, Southern Europe, and South Africa, enhancing service capabilities [1][8][9] Key Points from Guangdian Measurement 1. **Performance in 2025**: Expected revenue of 14.5 to 15 billion, with a year-on-year growth of 7.9% to 11.6% [3][12] 2. **Profitability**: Anticipated net profit of 0.95 to 1 billion, with a year-on-year growth of 19.2% to 25.5% [3][12] 3. **Business Segments**: Traditional business may decline, but advanced manufacturing sectors like new energy vehicles and semiconductors show significant order growth [3][13] 4. **R&D Investment**: R&D expense ratio maintained at around 10%, focusing on new production capabilities [3][13] 5. **Net Profit Margin**: Expected to reach 6.6% in the first half of 2025, with a potential increase to 15% in the next three to five years [3][14][15] 6. **Management Changes**: New management team implemented refined management practices, leading to improved performance and higher dividend payouts [3][17] 7. **Valuation**: Current PE ratio of 24-25, considered relatively low historically, indicating limited downside risk [3][18] Additional Insights - **Market Trends**: Both companies are adapting to market changes and focusing on high-growth sectors to mitigate risks from traditional business declines [1][3][19] - **Future Outlook**: Positive growth outlook for both companies, with HuaCe Testing focusing on operational efficiency and Guangdian Measurement leveraging new management strategies for enhanced profitability [1][3][19]