Group 1 - The company, Jinguan Technology, is focusing on the research and development of screw rods [2]

Group 1 - The company, Jinguan Technology, stated on August 27 that it will comply with regulatory requirements for information disclosure in response to investor inquiries [2]

Company Overview - Jiangsu Pacific Precision Forging Technology Co., Ltd. is located in Jiangyan District, Taizhou, Jiangsu Province, established on December 9, 1992, and listed on August 26, 2011 [1] - The company specializes in automotive differential bevel gears, transmission gears, axle components, electronic differential lock gears, synchronizer rings, clutch drive hubs, parking gears, electric motor shafts and assemblies for new energy vehicles, and high-end agricultural machinery gears [1] Financial Performance - As of June 30, 2025, the company reported a revenue of 987 million yuan, a year-on-year decrease of 2.00%, and a net profit attributable to shareholders of 60.6 million yuan, down 35.23% year-on-year [2] - Cumulative cash dividends since the A-share listing amount to 604 million yuan, with 181 million yuan distributed over the past three years [3] Stock Market Activity - On August 27, the company's stock price fell by 2.05%, trading at 14.30 yuan per share, with a total market capitalization of 8.366 billion yuan [1] - Year-to-date, the stock price has increased by 61.20%, but it has decreased by 5.92% over the last five trading days [1] - The stock has a turnover rate of 4.75%, with a trading volume of 395 million yuan on the same day [1] Shareholder Information - As of June 30, 2025, the number of shareholders increased by 11.35% to 33,700, while the average circulating shares per person decreased by 6.79% to 15,351 shares [2] - The second-largest circulating shareholder is Yongying Advanced Manufacturing Mixed Fund A, holding 23.14 million shares, while Qianhai Kaiyuan Jiaxin Mixed Fund A is the ninth-largest with 2.43 million shares, both being new shareholders [3]

Core Viewpoint - Recent financial results of Precision Forging Technology (300258) show a decline in revenue and net profit, indicating potential challenges in the company's operational performance and financial health [1] Financial Performance - Total revenue for the first half of 2025 was 987 million yuan, a decrease of 2.0% year-on-year [1] - Net profit attributable to shareholders was 60.6 million yuan, down 35.23% compared to the previous year [1] - In Q2 2025, total revenue was 474 million yuan, a decline of 5.75% year-on-year, with net profit at 20.4 million yuan, down 56.22% [1] - Gross margin decreased to 24.52%, down 3.28% year-on-year, while net margin fell to 6.15%, a drop of 33.83% [1] - Total expenses (selling, administrative, and financial) amounted to 106 million yuan, representing 10.75% of revenue, an increase of 9.18% year-on-year [1] Cash Flow and Investments - Operating cash flow increased by 90.3%, attributed to higher use of endorsed bank acceptance bills for supplier payments [2] - Investment cash flow decreased significantly by 1437.34% due to increased purchases of financial products and new investments [2] - Financing cash flow dropped by 67.84% due to increased loan repayments [2] - Net increase in cash and cash equivalents fell by 158.17%, reflecting declines in both investment and financing cash flows [2] Asset and Liability Management - Accounts receivable accounted for 247.04% of net profit, indicating a high level of receivables relative to earnings [1][9] - The company’s interest-bearing debt increased to 22.22 billion yuan, a rise of 2.31% year-on-year [1] Investment Returns - The return on invested capital (ROIC) was reported at 3.54%, indicating weak capital returns [7] - Historical data shows a median ROIC of 6.75% over the past decade, suggesting a trend of low investment returns [7] Market Position and Future Outlook - The company’s performance is heavily reliant on R&D and capital expenditures, necessitating careful evaluation of capital projects [8] - Analysts project a performance of 216 million yuan for 2025, with an average earnings per share of 0.39 yuan [9]

Event Overview - The company released its 2025 semi-annual report, reporting revenue of 990 million yuan for H1 2025, a year-on-year decrease of 2.0%. The net profit attributable to shareholders was 61 million yuan, down 35.2% year-on-year, and the net profit excluding non-recurring items was 45 million yuan, down 40.6% year-on-year [2]. Revenue and Profit Analysis - In Q2 2025, the company's revenue was 474 million yuan, a year-on-year decrease of 5.8% and a quarter-on-quarter decrease of 7.4%. The net profit attributable to shareholders was 20 million yuan, down 57.4% year-on-year and 50.0% quarter-on-quarter. The net profit excluding non-recurring items was 9 million yuan, down 71.9% year-on-year and 75.0% quarter-on-quarter [2][3]. - The decline in revenue was primarily attributed to a decrease in the fuel vehicle business, which generated 680 million yuan in revenue for H1 2025, down 7.9% year-on-year. However, the gross margin remained relatively stable at 24.7% in Q2 2025, an increase of 0.8 percentage points year-on-year and 0.5 percentage points quarter-on-quarter [3]. Expense and Tax Impact - In Q2 2025, the company's sales, management, R&D, and financial expenses were 1 million, 43 million, 32 million, and 13 million yuan, respectively. Year-on-year changes were -0.6%, +1.9%, 0.0%, and +0.4 percentage points, while quarter-on-quarter changes were -0.6%, +2.2%, +0.7%, and +0.8 percentage points. The net profit margin was 4.2%, up 2.7 percentage points year-on-year but down 3.6 percentage points quarter-on-quarter, mainly due to a decrease in gross margin, increased management expenses, and a rise in the tax rate [4]. Strategic Initiatives - The company is actively expanding into the humanoid robot sector, focusing on core components such as planetary gear reducers and joint modules. It has established a joint venture, Jiangsu Pacific Joint Electric Drive Technology, with a 90% stake, to advance joint module development. Additionally, the company has strategically invested in leading robot manufacturer Wuhan Gelanruo Intelligent Robot, acquiring a 10% stake to secure quality customers [5]. Financial Projections - The company is recognized as a leader in precision drive system gears and is accelerating its entry into the humanoid robot market. Revenue projections for 2025-2027 are 2.22 billion, 2.80 billion, and 3.54 billion yuan, with net profits of 190 million, 252 million, and 324 million yuan, respectively. The expected earnings per share (EPS) are 0.32, 0.43, and 0.55 yuan, corresponding to price-to-earnings (PE) ratios of 46, 35, and 27 times [6][8].

Summary of JinDun Technology Conference Call Company Overview - **Company**: JinDun Technology - **Date**: August 26, 2025 Key Points Industry Performance - In the first half of 2025, JinDun Technology's total revenue decreased by 2% year-on-year, with export product revenue down by 6% [2][3] - Revenue from new energy vehicle components grew by over 15%, accounting for 29% of total revenue, indicating growth potential in the new energy sector [2][3] Customer and Market Dynamics - Major customers include Volkswagen, GKN, Tesla, Magna, and Great Wall Motors [4] - Volkswagen's share of total revenue decreased by 2%, while GKN remained stable at around 20% and Tesla at approximately 12% [4] - Collaborations with Huawei, Xiaopeng, and others have increased, but reduced orders from Volkswagen's Tianjin plant impacted Q2 sales [2][4] Financial Performance - Net profit fell by 35% due to multiple factors, including tax policy adjustments, reduced VAT deductions, and increased losses from the Tianjin transmission project [2][6] - Domestic sales revenue was 670 million yuan, accounting for 69% of total revenue, while export sales were close to 300 million yuan, making up 30% [3] Profit Margin and Cost Management - Gross profit margin decreased by less than 0.7 percentage points year-on-year, but improved from Q1 to Q2, indicating effective market strategies [7] - Q1 gross margin was 24.28%, increasing to 24.78% in Q2, showing resilience against pricing pressures [7] New Customer and Project Development - Significant progress in acquiring new customers and projects, including partnerships with leading companies like BYD and Bosch [8] - Active development in the robotics sector, focusing on joint assembly design and intelligent detection devices [10] Market Forecast - Positive outlook for the second half of 2025, with expected growth from clients like Huawei and Volkswagen [9] - Anticipated revenue growth in double digits, with strategic adjustments to stabilize the domestic market and seize export opportunities [9] Robotics and Technology Advancements - JinDun is actively developing products in the robotics field, including joint assembly and planetary gear reducers [10] - Collaboration with Granrobo for joint assembly design and technology sharing [11] Thailand Factory and Future Plans - The Thailand factory is in trial production, with plans for mass production starting in Q3 2025 [12] - Expected revenue from the first phase of the factory could exceed 400 million yuan, with gradual sales increases anticipated [12] Lightweight Project Development - Ongoing discussions with Great Wall Motors and other automotive companies for lightweight components [18] - Revenue contributions from lightweight projects expected to increase significantly in 2026 [18] Management Expenses - Management expenses increased in Q2 due to costs associated with the Thailand factory, including recruitment and operational expenses [19] Conclusion - JinDun Technology is navigating a challenging market environment with strategic adjustments and new project developments, particularly in the new energy and robotics sectors, while managing costs and seeking to stabilize revenue streams.

Investment Rating - The report maintains a "Recommended" rating for the company, indicating a potential upside of over 15% relative to the benchmark index [6]. Core Views - The company reported a revenue of 990 million yuan for H1 2025, a decrease of 2.0% year-on-year, and a net profit attributable to shareholders of 61 million yuan, down 35.2% year-on-year [1]. - The decline in revenue is primarily attributed to a drop in the fuel vehicle business, while the gross margin remains relatively stable due to favorable business terms with overseas and major clients [2]. - The company is actively expanding into the humanoid robot sector, focusing on key components such as planetary gear reducers and joint modules, which is expected to contribute to a new growth curve [3]. Summary by Sections Financial Performance - In Q2 2025, the company generated revenue of 474 million yuan, down 5.8% year-on-year and 7.4% quarter-on-quarter. The net profit for the same period was 20 million yuan, a significant decline of 57.4% year-on-year and 50.0% quarter-on-quarter [1][2]. - The gross margin for Q2 2025 was 24.7%, an increase of 0.8 percentage points year-on-year and 0.5 percentage points quarter-on-quarter, indicating resilience despite market pressures [2]. Cost Structure - The company's management expenses, along with increased tax liabilities, have impacted net profit. In Q2 2025, the net profit margin was 4.2%, reflecting a year-on-year increase of 2.7 percentage points but a quarter-on-quarter decrease [3]. Growth Prospects - The company is leveraging its expertise in precision gear forging to develop humanoid robot components, establishing a joint venture for joint module research and investing in leading robotics firms to secure quality clients [3]. - Revenue projections for 2025-2027 are set at 2.22 billion, 2.80 billion, and 3.54 billion yuan, with net profits expected to reach 190 million, 250 million, and 320 million yuan respectively [4][5].

证券日报网讯8月25日晚间，精锻科技（300258）发布公告称，公司将于2025年9月16日召开2025年第二 次临时股东会。本次股东会将审议《关于2025年半年度利润分配预案的议案》。 ...

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。 一、召开会议的基本情况 证券代码：300258 证券简称：精锻科技 编号：2025-096 江苏太平洋精锻科技股份有限公司 关于召开2025年第二次临时股东会的通知 1、股东会届次：2025年第二次临时股东会 2、股东会的召集人：公司董事会 3、会议召开的合法、合规性：经公司第五届董事会第十三次会议审议通过，决 定召开公司2025年第二次临时股东会。本次股东会的召开符合有关法律法规、规范 性文件、深交所业务规则和《公司章程》的规定。 （1）股权登记日深圳证券交易所交易结束后在中国结算公司深圳分公司登记在 册的公司全体股东均有权出席股东会，并可以以书面形式委托代理人出席会议和参 加表决，该股东代理人不必是本公司股东。 （2）公司董事和高级管理人员。 （3）公司聘请的律师。 8、现场会议地点：江苏省泰州市姜堰区双登大道 198 号，江苏太平洋精锻科技 股份有限公司三楼会议室。 4、会议召开的日期、时间： （1）现场会议时间：2025年9月16日（星期二）14:30 （2）网络投票时间：2025年9月16日 其中：通过 ...

证券代码：300258 证券简称：精锻科技 公告编号：2025-093 江苏太平洋精锻科技股份有限公司 第五届董事会第十三次会议决议公告 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。 一、董事会会议召开情况 江苏太平洋精锻科技股份有限公司（以下简称"公司"第五届董事会第十三次会 议通知于 2025 年 8 月 12 日以电子邮件方式发出，会议于 2025 年 8 月 22 日 14:00 在 公司三楼会议室以现场会议结合视频会议的方式召开。会议应到董事 7 名，实到 7 名， 符合《中华人民共和国公司法》和《公司章程》的规定，会议程序合法、有效。会议 由夏汉关先生主持，公司高级管理人员列席了会议。 二、董事会会议审议情况 本次董事会经审议，通过了以下议案： 《关于 2025 年半年度利润分配预案的公告》详见中国证监会指定信息披露网站。 审计委员会认为：2025 年半年度利润分配预案符合公司当前的实际情况，顺应了 公司发展战略需要，有利于公司的持续稳定健康发展，符合公司《未来三年股东回报 规划（2023 年度~2025 年度）》和《公司章程》规定的利润分配政策 ...