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精锻科技 | 25Q2:业绩短期承压 机器人打开第二成长曲线【民生汽车 崔琰团队】
汽车琰究· 2025-08-26 16:18
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].
精锻科技20250826
2025-08-26 15:02
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.
精锻科技(300258):系列点评四:25Q2业绩短期承压,机器人打开第二成长曲线
Minsheng Securities· 2025-08-26 14:03
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].
精锻科技:9月16日将召开2025年第二次临时股东会
Zheng Quan Ri Bao Wang· 2025-08-25 13:15
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》。 ...
精锻科技(300258) - 关于召开2025年第二次临时股东会的通知
2025-08-25 11:16
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 ...
精锻科技(300258) - 董事会决议公告
2025-08-25 11:15
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 ...
精锻科技(300258) - 2025095 关于2025年半年度利润分配预案的公告
2025-08-25 11:15
关于 2025 年半年度利润分配预案的公告 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。 江苏太平洋精锻科技股份有限公司 特别提示: 1、公司 2025 年半年度利润分配预案:以截至 2025 年 8 月 21 日公司总股本剔 除回购专户中已回购股份后的股本 575,659,882 为基数,向全体股东每 10 股派发现 金 0.35 元人民币(含税),合计派发现金 20,148,095.87 元(含税)。 2、公司利润分配预案不触及《深圳证券交易所创业板股票上市规则》第 9.4 条 第(八)项规定的可能被实施其他风险警示情形。 一、审议程序 证券代码:300258 证券简称:精锻科技 公告编号:2025-095 三、2025 年半年度利润分配预案的合法性、合规性 江苏太平洋精锻科技股份有限公司(以下简称"公司")于 2025 年 8 月 22 日召 开第五届董事会审计委员会第五次会议,于 2025 年 8 月 22 日召开第五届董事会第 十三次会议,审议通过了《关于 2025 年半年度利润分配预案的议案》。本议案尚需 提交公司股东会审议。 (一)审计委员会审 ...
精锻科技(300258) - 2025 Q2 - 季度财报
2025-08-25 11:05
江苏太平洋精锻科技股份有限公司 2025 年半年度报告全文 江苏太平洋精锻科技股份有限公司 2025 年半年度报告 2025 年 8 月 26 日 1 江苏太平洋精锻科技股份有限公司 2025 年半年度报告全文 第一节 重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真实、准确、完整,不存 在虚假记载、误导性陈述或者重大遗漏,并承担个别和连带的法律责任。 公司负责人夏汉关、主管会计工作负责人毛新宇及会计机构负责人(会计主管人员)陈攀声明:保证 本半年度报告中财务报告的真实、准确、完整。 所有董事均已出席了审议本次半年报的董事会会议。 本报告中如有涉及未来的计划、业绩预测等方面的内容,均不构成本公司对任何投资者及相关人 士的承诺,投资者及相关人士均应对此保持足够的风险认识,并且应当理解计划、预测与承诺之间的差 异,注意投资风险。 公司在本报告"第三节管理层讨论与分析"中"十、公司面临的风险和应对措施"部分中详细描 述了公司经营中可能存在的风险和应对措施,敬请广大投资者关注相关内容。 公司经本次董事会审议通过的利润分配预案为:以 575,659,882 股为基数,向全体股东每 ...
精锻科技(300258) - 2025年上半年度募集资金存放与实际使用情况专项报告
2025-08-25 11:01
江苏太平洋精锻科技股份有限公司 2025年上半年度募集资金存放与实际使用情况专项报告 一、募集资金基本情况 (一)实际募集资金金额、资金到位时间 根据《上市公司监管指引第2号——上市公司募集资金管理和使用的监管要求 (2022年修订)》《深圳证券交易所上市公司自律监管指引第2号——创业板上市公 司规范运作》有关规定,现将本公司2025上半年度募集资金存放与实际使用情况说 明如下: 1、2023年向不特定对象发行可转换公司债券 经中国证券监督管理委员会证监许可【2023】45号文核准,并经深圳证券交易 所同意,本公司于2023年2月15日向不特定对象发行可转换公司债券980万张,发行 价格为人民币100元/张,债券发行总额为人民币98,000.00万元。截至2023年2月21日, 本公司共募集资金98,000.00万元,扣除发行费用1,187.26万元(不含税)后,募集资 金净额为96,812.74万元。 上述募集资金净额已经致同会计师事务所(特殊普通合伙)于2023年2月22日出 具致同验字(2023)第110ZC00070号《验资报告》验证。 (二)以前年度已使用金额、本年度使用金额及当前余额 1、以前年度 ...
精锻科技(300258) - 非经营性资金占用及其他关联资金往来情况汇总表
2025-08-25 11:01
江苏太平洋精锻科技股份有限公司2025年半年度非经营性资金占用及其他关联资金往来情况汇总表 1 编制单位:江苏太平洋精锻科技股份有限公司 单位:万元 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 年度期末 占用资金 余额 占用形成 原因 占用性质 小计 小计 小计 总计 其他关联资金往来 资金往来方名称 往来方与上 市公司的关 联关系 上市公司核算 的会计科目 2025年期初 往来资金 余额 2025年半年度 往来累计发生 金额(不含利 息) 2025年半年 度往来资金 的利息(如有) 2025年半 年度偿还 累计发生 金额 2025年半 年度期末 往来资金 余额 往来形成 原因 往来性质 天津太平洋传动科技有限公司 子公司 其他应收款 273.57 13.09 260.48 非经营性往来 重庆太平洋精工科技有限公司 子公司 其他应收款 1,544.66 200.00 12.83 1, ...