行业周期上行叠加业绩扭亏。 来源：富凯财经 作者|川扇假 炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 排版|十 一 富凯摘要 市场资金关注度的提升，也是油气板块涨停潮不可忽视的推动力量。春节后，市场资金逐步回流，积极 探寻具有投资价值的板块，油气板块作为典型的周期性行业，其股价表现与油价紧密相连，在油价上涨 的预期下，市场资金纷纷将目光投向油气板块，推动股价节节攀升。此外，油气板块中部分个股估值较 低，具备较高的安全边际和投资价值，也吸引了大量资金蜂拥而入。 正因如此，在春节后的首个交易日，提供从油气勘探开发到装备制造全链条支持的新锦动力便强势涨 停，公司市盈率（TTM）虽高达231.82倍，但若剔除债务重组等非经常性损益的影响，其核心业务估值 实则处于低位，以2025年扣非净利润计算，新锦动力市盈率约30倍，低于行业平均水平，具备较高的安 全边际。 业绩扭亏为盈 新锦动力受到资金青睐，不仅源于其估值优势和行业热度，更得益于公司自身走出低谷。 在地缘政治风险的推波助澜下，国际油价在春节期间已连续多日大幅上扬。 春节后，A股市场油气板块强势崛起，国际油价的攀升，无疑是油气板块涨停潮 ...

证券日报网讯 2月24日，新锦动力在互动平台回答投资者提问时表示，公司作为国际型高端能源装备企 业，核心聚焦离心式压缩机、工业驱动汽轮机及其成套设备的设计、制造与全生命周期服务，在透平机 械领域积淀了深厚的技术底蕴和丰富的产品经验，核心技术水平已处于国际第一梯队。同时，公司已具 备燃气轮机维修、备品备件提供及机组成套解决方案的能力。未来，公司将持续聚焦高端能源装备主 业，紧扣市场和用户需求，加大核心技术创新研发和市场开拓力度，不断提升产品与解决方案的适配性 和企业竞争力，进一步扩大市场份额。 （文章来源：证券日报） ...

格隆汇2月24日丨新锦动力(300157.SZ)在投资者互动平台表示，在油气勘探开发领域，公司拥有完备的 商业化地球物理、地质、油藏及开发工程软件技术体系，配备专业的技术服务团队，可为国内外石油公 司提供油气勘探开发一体化技术解决方案，服务客户涵盖中石油、中石化、中海油等龙头石油企业，技 术服务能力与市场认可度均处于行业前列。目前公司暂未与雪佛龙开展合作，也暂无直接涉足委内瑞拉 的相关业务。 ...

Group 1: Stock Performance - The stock price of Xinjin Power has been in a continuous decline over the past week, with a net outflow of funds [2] - As of February 13, the stock closed at 5.65 yuan, down 2.08% for the day, with a trading volume of 230 million yuan and a turnover rate of 5.71% [2] - In the last five trading days, the stock has dropped 10.74%, with a price fluctuation of 11.69%, falling from a high of 6.38 yuan on February 9 to a low of 5.64 yuan on February 13 [2] Group 2: Financial Performance - For the first three quarters of 2025, Xinjin Power reported a revenue of 399 million yuan, representing a year-on-year growth of 2.08% [3] - The net profit attributable to shareholders reached 78.6 million yuan, showing a significant year-on-year increase of 172% [3] - The main business revenue composition includes 83.59% from equipment and spare parts sales and 13.10% from oil and gas exploration and sales [3] Group 3: Shareholder Structure - As of September 30, the number of shareholders was 54,300, a decrease of 15.92% from the previous period, while the average circulating shares per person increased by 19.94%, indicating a higher concentration of shares [3] Group 4: Institutional Insights - The relative valuation range for Xinjin Power is estimated to be between 4.95 and 5.47 yuan, with a low accuracy rating of C [4] - The report indicates that the company has a weak competitive moat and profitability, but good revenue growth potential in the future [4] - Current stock price is considered high based on the overall fundamentals, with low frequency of institutional research and neutral sentiment in the latest public opinion [4]

Market Performance - The general equipment sector increased by 0.34% compared to the previous trading day, with Zhiyuan New Energy leading the gains [1] - The Shanghai Composite Index closed at 4102.2, up 0.85%, while the Shenzhen Component Index closed at 14156.27, up 0.21% [1] Top Gainers - Zhiyuan New Energy (300985) closed at 25.10, up 19.98% with a trading volume of 150,400 shares and a transaction value of 357 million [1] - New Jin Power (300157) closed at 6.13, up 12.48% with a trading volume of 1,982,500 shares and a transaction value of 1.2 billion [1] - Chunhui Zhikong (300943) closed at 33.93, up 11.25% with a trading volume of 342,300 shares [1] Top Losers - Naikan Mining Machinery (300818) closed at 40.86, down 16.98% with a trading volume of 169,300 shares and a transaction value of 701 million [2] - Lio Co., Ltd. (002131) closed at 9.26, down 9.04% with a trading volume of 13,710,000 shares and a transaction value of 13.079 billion [2] - Deen Precision (300780) closed at 27.38, down 7.90% with a trading volume of 264,000 shares and a transaction value of 753 million [2] Capital Flow - The general equipment sector experienced a net outflow of 2.227 billion from main funds, while retail funds saw a net inflow of 1.982 billion [2][3] - Major stocks like Juyi Sockets (002342) had a net inflow of 284 million from main funds but a net outflow of 177 million from speculative funds [3] - Beijing Shares (600860) had a significant net inflow of 111 million from main funds, indicating strong interest [3]

Market Overview - The general equipment sector experienced a decline of 0.13% on January 30, with New Jin Power leading the losses [1] - The Shanghai Composite Index closed at 4117.95, down 0.96%, while the Shenzhen Component Index closed at 14205.89, down 0.66% [1] Top Performers - SiKan Technology (688583) saw a significant increase of 20.00%, closing at 128.68 with a trading volume of 12,300 [1] - Zhenglei Co., Ltd. (301317) rose by 13.37%, closing at 42.15 with a trading volume of 108,900 [1] - Oke Yi (688308) increased by 11.26%, closing at 53.25 with a trading volume of 95,700 [1] - Rui Xin Technology (300828) gained 10.02%, closing at 23.83 with a trading volume of 120,670 [1] - Baida Precision (603331) rose by 9.99%, closing at 15.63 with a trading volume of 316,900 [1] Underperformers - New Jin Power (300157) fell by 10.41%, closing at 5.68 with a trading volume of 1,903,900 [2] - Jiuling Technology (920505) decreased by 10.27%, closing at 51.80 with a trading volume of 40,900 [2] - Huanghe Xuanfeng (600172) dropped by 10.03%, closing at 6.55 with a trading volume of 2,199,900 [2] - Huifeng Diamond (920725) declined by 9.31%, closing at 33.72 with a trading volume of 69,800 [2] - Baoding Technology (002552) decreased by 9.24%, closing at 19.25 with a trading volume of 236,500 [2] Capital Flow - The general equipment sector saw a net outflow of 3.508 billion yuan from institutional investors, while retail investors had a net inflow of 3.369 billion yuan [2] - The sector experienced a net inflow of 139 million yuan from speculative funds [2] Individual Stock Capital Flow - JuLi SuoJu (002342) had a net inflow of 135 million yuan from institutional investors, while it faced a net outflow from speculative and retail investors [3] - Baida Precision (603331) saw a net inflow of 73.68 million yuan from institutional investors, with outflows from both speculative and retail investors [3] - New Jin Power (300157) had a net inflow of 34.49 million yuan from institutional investors, but faced significant outflows from speculative and retail investors [3]

Core Viewpoint - Xinjing Power Group Co., Ltd. expects significant revenue growth and profitability improvement in 2025, driven by increased orders and expansion into overseas markets [2]. Financial Performance - The company forecasts revenue between 700 million to 800 million yuan for 2025, compared to 550 million yuan in the previous year [2]. - Expected net profit attributable to shareholders is projected to be between 40 million to 50 million yuan, marking a turnaround from a loss [2]. Reasons for Performance Improvement - The increase in revenue and gross profit is attributed to a rise in orders and the exploration of overseas markets [2]. - The company completed multiple debt restructurings during the reporting period, resulting in significant debt restructuring gains and a decrease in the cost of major overdue debts [2]. Non-Recurring Gains - Non-recurring gains are expected to impact net profit by approximately 120 million yuan, primarily from debt restructuring gains, other comprehensive income turning into profit, and penalties from overdue debts [2]. Business Overview - Xinjing Power started with a focus on oil and gas exploration and development software and technical services, evolving into a business model centered around high-end equipment manufacturing, integrated with energy and energy services [2]. - The company's equipment products are applicable in various fields, including petrochemicals, coal chemicals, natural gas chemicals, natural gas transportation, natural gas liquefaction, green energy, green power generation, and energy storage [2].

Core Viewpoint - The company, Xinjin Power, announced an expected revenue of 700 million to 800 million yuan for the fiscal year 2025, compared to 552 million yuan in the same period last year. Additionally, it anticipates a net profit attributable to the parent company of 40 million to 50 million yuan, a significant recovery from a loss of 166 million yuan in the previous year [1]. Financial Performance - Expected revenue for 2025 is projected to be between 700 million and 800 million yuan, an increase from 552 million yuan in the previous year [1]. - The anticipated net profit for 2025 is between 40 million and 50 million yuan, a turnaround from a loss of 166 million yuan in the prior year [1].

Core Viewpoint - The company expects a net profit of 40 million to 50 million yuan for 2025, a significant recovery from a loss of 165.78 million yuan in the same period last year [1] Group 1: Financial Performance - The company has turned a profit compared to the previous year, primarily due to an increase in orders and expansion into overseas markets [1] - Revenue and gross profit have significantly increased year-on-year during the reporting period [1] - The company completed multiple debt restructurings, resulting in substantial debt restructuring gains and a decrease in the cost of major overdue debts compared to the previous year [1]

Core Viewpoint - The company Xinjin Power (300157.SZ) expects a net profit attributable to shareholders of 40 million to 50 million yuan for 2025, marking a turnaround from losses in the previous year, with operating revenue projected between 700 million to 800 million yuan [1] Financial Performance - The company anticipates a significant increase in operating revenue and gross profit due to growth in orders and expansion into overseas markets [1] - The expected net profit for 2025 represents a recovery compared to the previous year, primarily driven by improved financial performance [1] Debt Restructuring - The company completed multiple debt restructurings during the reporting period, resulting in substantial gains from debt restructuring and a decrease in the cost of overdue debts compared to the previous year [1] - Non-recurring gains and losses are expected to impact net profit by approximately 120 million yuan, influenced by debt restructuring gains, conversion of other comprehensive income to profit and loss, and penalties related to overdue debts [1]