证券代码：300115 证券简称：长盈精密 公告编号：2025-81 深圳市长盈精密技术股份有限公司 关于回购公司股份的进展公告 本公司及董事会全体成员保证公告内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 一、回购股份方案的基本情况 深圳市长盈精密技术股份有限公司（以下简称"公司"）于 2025 年 8 月 26 日召 开第六届董事会第二十六次会议，审议通过了《关于回购公司股份方案的议案》，同 意公司使用自有或自筹资金以集中竞价交易方式回购公司公开发行的人民币普通股 A 股股票，用于实施员工持股计划或股权激励计划。本次回购股份资金总额不低于 人民币 5,000 万元（含）且不超过人民币 10,000 万元（含），回购股份价格不高于人 民币 35 元/股，具体回购股份的数量以回购期满或回购完毕时公司实际回购的股份数 量为准。回购股份的实施期限为自公司第六届董事会第二十六次会议审议通过之日 起 12 个月内。具体内容详见公司于巨潮资讯网披露的《关于回购公司股份方案的公 告》（公告编号：2025-58）、《回购报告书》（公告编号：2025-59）。 公司于 2025 年 10 月 30 日召开第六届 ...

Q3 符合预期，关注 A 客户新品进展、机器人核心卡位 TMT 及中小盘/电子 事件：公司公告 25 年三季报，结合公司近况，我们点评如下： q 风险提示：行业需求低于预期、同行竞争加剧、地缘政治风险加剧、原材料 价格波动，产能利用率提升不及预期。 增持（维持） 当前股价：38.01 元 证券研究报告 | 公司点评报告 2025 年 11 月 03 日 基础数据 长盈精密（300115.SZ） | 总股本（百万股） | 1361 | | --- | --- | | 已上市流通股（百万股） | 1357 | | 总市值（十亿元） | 51.7 | | 流通市值（十亿元） | 51.6 | | 每股净资产（MRQ） | 6.1 | | ROE（TTM） | 7.8 | | 资产负债率 | 61.3% | | 主要股东 宁波长盈粤富投资有限公司 | | | 主要股东持股比例 | 32.64% | 财务数据与估值 | 会计年度 | 2023 | 2024 | 2025E | 2026E | 2027E | | --- | --- | --- | --- | --- | --- | | 营业总收入(百万元) | 137 ...

点击招商证券机智小程序查看PDF报告原文 事件：公司公告25年三季报，结合公司近况，我们点评如下： Q3业绩基本符合预期，收入创下历史季度新高。 公司前三季度收入135.1亿同比+11.7%，归母净利4.7亿同比-21.2%，扣非归母4.4亿同比 +19.2%，毛利率19.1%同比+0.4pct，净利率3.9%同比-1.4pcts，扣非净利率3.3%同比+0.2pct。收入增长主要系消费电子主业稳健，且新能源 收入快速增长，以及机器人业务贡献收入增量；归母净利下滑主要系去年同期处理广东天机部分股权取得1.8亿投资收益，剔除此影响后，归母净利 同比增长约14.6%，从毛利率和扣非净利率可看出，公司实则盈利能力持续改善。单Q3，收入48.7亿同比+10.5环比+14.7%，收入创下历史季度 新高，在去年同期高基数下仍实现收入增长，主要系新能源及机器人业务贡献；归母净利1.6亿同比+0.6%环比+23.4%，毛利率19.7%同 比-0.3pct环比+1.2pcts，净利率3.8%同比-0.2pct环比+0.2pct，归母净利增速低于收入增速，主要系部份高毛利率零部件产品出货下滑导致毛利 率略下降，且新品处于量产爬坡 ...

Core Viewpoint - Changying Precision is a leading manufacturer of precision electronic components in China, with strong technical capabilities and market competitiveness in consumer electronics and new energy vehicles [1] Financial Performance - In Q3 2025, Changying Precision reported revenue of 13.51 billion yuan, ranking 9th in the industry, while net profit was 524 million yuan, ranking 11th [2] - The industry leader, Industrial Fulian, had revenue of 603.93 billion yuan and net profit of 22.52 billion yuan [2] Financial Ratios - As of Q3 2025, the company's debt-to-asset ratio was 61.30%, higher than the industry average of 44.84% [3] - The gross profit margin was 19.10%, slightly above the previous year's 18.70% but below the industry average of 19.47% [3] Executive Compensation - The chairman, Chen Qixing, received a salary of 840,000 yuan in 2024, unchanged from 2023, while the general manager, Chen Xiaoshuo, received 1.2156 million yuan, an increase of 205,600 yuan from the previous year [4] Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 10.34% to 172,400, with an average holding of 7,871.35 shares, a decrease of 9.29% [5] Research Insights - Minsheng Securities noted that the company's Q3 2025 report showed improved profitability and a growing contribution from new energy business, exceeding 30% of total revenue [6] - The company is accelerating R&D investments in AI and humanoid robots, with significant revenue growth in overseas humanoid robot parts [6] - Huaxi Securities highlighted that the company's performance met expectations, with stable gross margins and increased R&D expenses by 15.01% year-on-year [7] Future Projections - Minsheng Securities forecasts revenues of 18.742 billion, 21.306 billion, and 24.149 billion yuan for 2025 to 2027, with net profits of 564 million, 786 million, and 1.124 billion yuan respectively [6] - Huaxi Securities adjusted its revenue projections to 18.701 billion, 23.108 billion, and 26.233 billion yuan for the same period, with net profits of 698 million, 1.034 billion, and 1.232 billion yuan [8]

Group 1 - A-shares experienced a collective pullback on October 31, with the three major indices declining [1] - Among the sectors, biopharmaceuticals, chemical pharmaceuticals, cultural media, internet services, medical services, and software development saw the highest gains, while insurance, small metals, and semiconductors faced the largest declines [1] - The net outflow of main funds from the Shanghai and Shenzhen markets reached 43.744 billion yuan, with 14 sectors experiencing net inflows [1] Group 2 - The media and pharmaceutical sectors had significant net inflows of 3.058 billion yuan and 1.971 billion yuan, respectively [1] - Public utilities, agriculture, forestry, animal husbandry, and food and beverage sectors also saw net inflows exceeding 400 million yuan [1] - In contrast, the electronics and communications sectors faced the largest net outflows, amounting to 18.309 billion yuan and 9.437 billion yuan, respectively [1] Group 3 - Eight stocks received net inflows exceeding 500 million yuan, with 32 stocks seeing net inflows over 200 million yuan [2] - Dongfang Precision received a net inflow of 1.245 billion yuan, with its Q3 revenue reaching 3.389 billion yuan, a year-on-year increase of 2.52%, and a net profit of 510 million yuan, up 54.64% year-on-year [2] - Changying Precision also attracted a net inflow of 719 million yuan, benefiting from its position in the humanoid robot supply chain [2] Group 4 - A total of 77 stocks experienced net outflows exceeding 200 million yuan, with Shenghong Technology and Zhongji Xuchuang seeing outflows over 2 billion yuan [3] - At the end of the trading day, the main funds saw a net outflow of 9.052 billion yuan, with public utilities, petroleum and petrochemicals, and retail sectors showing net inflows exceeding 50 million yuan [4] - Changying Precision had a late-session net inflow of 109 million yuan, while several other stocks also saw significant late-session inflows [4]

在保持主业稳步向上的同时，长盈精密也非常重视对研发创新的投入。今年前三季度，公司投入研发费 用10.15亿元，同比增长15.08%。根据最新的调研记录，长盈精密研发费用增长较快的主要原因是消费 类电子的大客户有个比较重要的项目预计在今年四季度开始进入量产，需要为这个项目做量产准备。同 时，AI眼镜类的产品市场需求增长较快，公司也拓展了应用在此类终端上的产品种类，除供应结构件 外，还为北美AI眼镜客户提供电池钢壳、塑胶橡胶类产品。 在算力领域，长盈精密以1.02亿元收购了深圳市威线科电子有限公司51%的股权，大力布局AI算力相关 领域。目前，长盈精密开发的应用于服务器、工作站内部高速背板连接器产品已给国内头部客户送样验 证。 据长盈精密董事会审议通过的《关于回购公司股份方案的议案》显示，公司计划使用0.5亿元至1亿元自 有或自筹资金，以集中竞价交易方式回购公司股票回购价格上限为35元/股，回购股份拟用于员工持股 计划或股权激励计划。 10月14日，长盈精密开始首次实施回购，通过回购专用证券账户以集中竞价交易方式回购股份了150万 股，占公司总股本的0.11%。此次回购最高成交价和最低成交价分别为33.72元/股 ...

今日有14个行业主力资金净流入。 A股三大指数今日（10月31日）集体回调。行业板块涨多跌少，生物制品、化学制药、文化传媒、互联 网服务、医疗服务、软件开发板块涨幅居前，保险、小金属、半导体板块跌幅居前。 从今日主力资金情况来看，沪深两市全天主力资金净流出437.44亿元。14个行业主力资金净流入，其中 传媒、医药生物行业主力资金净流入金额分别为30.58亿元、19.71亿元；公用事业、农林牧渔、食品饮 料行业主力资金净流入金额均超4亿元；基础化工、石油石化、社会服务等行业主力资金净流入金额均 超1亿元。 17个主力资金净流出行业中，电子、通信行业主力资金净流出金额居前，金额分别为183.09亿元、94.37 亿元；电力设备、有色金属、计算机、非银金融、家用电器行业主力资金净流出金额均超20亿元。 8股获主力资金净流入超5亿元 从个股来看，32股主力资金净流入超2亿元，8股获主力资金净流入超5亿元。 东方精工主力资金净流入12.45亿元，人形机器人概念股震荡走高，东方精工一度涨停，近日公司三季 报显示，前三季度营业总收入33.89亿元，同比增长2.52%，归母净利润5.1亿元，同比增长54.64%。 长盈精密 ...

Core Viewpoint - The Tonghuashun Fruit Index concept has experienced a decline of 2.53%, ranking among the top declines in concept sectors, with notable drops in stocks such as Pengding Holdings, Industrial Fulian, and Zhongshi Technology [1] Group 1: Market Performance - The top gainers in the market include Changying Precision, Wentai Technology, and Xinwei Communication, with increases of 4.71%, 3.05%, and 0.76% respectively [1] - The concept sectors with the highest gains today include Recombined Protein at 3.72%, Cell Immunotherapy at 3.58%, and Sora Concept (Wensheng Video) at 3.51% [2] Group 2: Capital Flow - The Tonghuashun Fruit Index concept saw a net outflow of 5.675 billion yuan, with 16 stocks experiencing net outflows, and 9 stocks seeing outflows exceeding 1 billion yuan [2] - Industrial Fulian led the net outflow with 3.028 billion yuan, followed by Luxshare Precision, Changdian Technology, and Dongshan Precision with outflows of 1.477 billion yuan, 588 million yuan, and 353 million yuan respectively [2] - The stocks with the highest net inflows include Changying Precision, Wentai Technology, and Xinwei Communication, with inflows of 691 million yuan, 299 million yuan, and 8.716 million yuan respectively [3]

10月31日，上证指数、科创50指数全天震荡走低；深证成指、创业板指早盘一度快速回落，随后震荡回 升，之后回落走低，午后持续走低。截至收盘，上证指数报3954.79点，跌0.81%，成交额10311亿元； 深证成指报13378.21点，跌1.14%，成交额12866.88亿元；创业板指报3187.53点，跌2.31%，成交额 5953.5亿元；科创50指数报1415.53点，跌3.13%，成交额950亿元。沪深两市合计成交23177.88亿元，成 交额较上一交易日减少1039.3亿元。 创新药、短剧互动游戏等概念走强 ST中迪11连板 盘面上来看，行业板块、概念涨多跌少。其中，医药生物、传媒、商贸零售、纺织服饰、教育、计算 机、轻工制造、农林牧渔、食品饮料等行业涨幅靠前；创新药、短剧互动游戏、AI语料、重组蛋白、 盲盒经济、共享经济、数据确权、免税、轮毂电机等概念走势活跃。通信、保险、电子、有色金属、煤 炭等行业跌幅居前；培育钻石、存储芯片、CPO、被动元件、稀土永磁、量子科技等概念走势较弱。涨 停个股主要集中在医药生物、传媒、电力设备、汽车、建筑装饰等行业。 个股涨跌情况，截至收盘，沪深两市合计3541只个 ...

Group 1 - The core viewpoint of the report is that Changying Precision (300115.SZ) is rated as a "buy" due to its leading position in precision component manufacturing and its stable fundamentals in consumer electronics and new energy sectors, along with forward-looking investments in humanoid robots [1] - The humanoid robot industry is gradually entering the commercialization stage, and the company has already entered the supply chains of leading domestic and international manufacturers [1] - In the consumer electronics sector, the company is expanding its client base horizontally, with foldable smartphones expected to bring additional growth [1]