Core Viewpoint - Donghua Testing conducted a total of 20 block trades on August 26, with a total trading volume of 1.288 million shares and a total transaction amount of 53.0396 million yuan, reflecting a discount of 11.17% compared to the closing price of the day [2][3] Trading Summary - The average transaction price for the block trades was 41.18 yuan, which is 11.17% lower than the closing price of 46.36 yuan on the same day [2] - Institutional proprietary seats participated in 14 of the trades, with a total transaction amount of 35.744 million yuan and a net purchase of 35.744 million yuan [2] - The stock closed at 46.36 yuan, up 4.70% for the day, with a turnover rate of 19.37% and a total transaction amount of 724 million yuan [2] - The net inflow of main funds for the day was 28.2222 million yuan, and the stock has increased by 6.57% over the past five days, with a total net inflow of 21.3262 million yuan [2]

| | | | | | | | HITAHINAHA | | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | | | | 南路第二证券营业 | | 2025-08-26 | 300354 | 东华测试 | 41.18 | 7.00 | 288.26 | 浙商证券股份有限 | 国泰海通证券股份 | | | | | | | | 公司上海长乐路证 | 有限公司泰州鼓楼 | | | | | | | | 券营业部 | 南路第二证券营业 | | 2025-08-26 | 300354 | 东华测试 | 41.18 | 7.30 | 300.61 | 机构专用 | 圆泰海通证券股份 | | | | | | | | | 有限公司泰州鼓楼 | | | | | | | | | 南路第二证券营业 | | 2025-08-26 | 300354 | 东华测试 | 41.18 | 7.00 | 288.26 | 申万宏源西部证券 | 圆泰海通证券股份 | | | | | | | | 有限公司乌鲁木齐 | 有限公司泰州鼓楼 | | | | | | | | 北京路证券营业 ...

特别提示 微信机制调整，点击顶部"仪器信息网" → 右上方"…" → 设为 ★ 星标，否则很可能无法看到我们的推送。 江苏东华测试技术股份有限公司于2025年8月20日召开了第六届董事会第九次会议 ， 审议通过了 《 关 于 设 立 分 公 司的议案 》 ， 同意公司在武汉及西安设立分公司 。 武汉分公司 武汉分公司于2025年8月21日完成工商注册登记手续 ， 并取得了武汉市洪山区行政审批局核发的 《 营业执照 》 ， 统一社会信用代码为91420111MAETN8FX11 ， 经营场所位于湖北省武汉市洪山区杨园南路41号长航蓝晶绿洲8栋 29层1室 。 西安分公司 西安分公司的经营场所位于西安市 ， 经营范围为总公司关联经营范围内业务 ， 具体情况以市场监督管理部门核准登 记为准 。 | 版 权 ： 本 文 部 分 素 材 源 自 网 络 ， 版 权 归 原 作 者 所 有 ， 观 点 代 表 作 者 本 人 ， 不 代 表 本 号立 场 | 转 载 ： 须 本 号 授 权 ， 请 联 系 主 编 | 责 编 ： 安 安 | 视 觉 ： 长 艳 柱 子 本次设立分公司有利于公司实现整体发展规划 ， 优化战 ...

Market Overview - The A-share market has shown strong performance, breaking through last year's high, with expectations for continued upward movement supported by reasonable valuations and new positive factors such as a potential interest rate cut by the Federal Reserve and a recovery in public fund issuance [2][3] - The weighted REITs index has decreased by 1.52% during the week of August 18-22, 2025, indicating a downward trend in the secondary market prices of publicly listed REITs [2] Credit Bonds - A total of 375 credit bonds were issued from August 18 to August 22, 2025, with a total issuance scale of 376.74 billion, reflecting a week-on-week increase of 12.45% [3] - The total transaction volume of credit bonds reached 1,286.40 billion, up 16.04% week-on-week, with commercial bank bonds, corporate bonds, and medium-term notes being the top three in transaction volume [3] Convertible Bonds - The CSI Convertible Bond Index increased by 2.8% during the week, with a year-to-date increase of 17.9%, slightly below the equity market performance [4] - Current valuations of convertible bonds are close to or exceed historical highs, yet the equity market remains robust, suggesting continued strong performance in the convertible bond market [4] High-end Manufacturing - Exports of engineering machinery maintained double-digit growth, with excavators, tractors, and mining machinery showing year-on-year increases of 24%, 30%, and 25% respectively [6] - The report suggests focusing on companies like QuanFeng Holdings, JuXing Technology, and Xugong Machinery due to their strong export performance [6] TMT Sector - The company SUTENG has seen rapid growth in its robotics business, indicating a successful strategic transformation [6] - The report highlights the importance of SUTENG's self-research technology and its competitive advantages in the ADAS and robotics ecosystem [6] Agriculture, Forestry, Animal Husbandry, and Fishery - The report notes a slight decline in pig prices, with the average price of live pigs at 13.75 yuan/kg, down 0.07% week-on-week [6] - The government has initiated pork storage measures to boost market sentiment, suggesting a potential recovery in pig prices [6] Medical and Biological Sector - The report recommends increasing allocations to the medical device sector, highlighting undervalued companies in Hong Kong and those with strong growth potential [7] - Companies like Weikang Medical and Mindray Medical are noted for their robust growth and research capabilities [7] Petrochemical Sector - The report indicates a significant market opportunity for the renovation of old refineries, with companies like Sinopec Engineering and PetroChina Engineering expected to benefit [7] - The report emphasizes the trend of "de-involution" in the refining industry, which may lead to a substantial market for dismantling and renovation [7] Basic Chemicals - The second phase of phosphate fertilizer export quotas has been allocated, with leading companies expected to benefit from high overseas prices [7] - The report anticipates continued high demand for high-grade phosphate rock in the short to medium term [7] Non-Banking Financials - AIA Insurance has seen new business value reach new highs, with stable growth in operating profits [10] - The report adjusts profit forecasts for AIA for 2025-2027, maintaining a "buy" rating [10] Real Estate - The property management sector shows steady growth, with a stable dividend outlook from companies like Yuexiu Services [10] - The report notes a slight decline in net profit but maintains a positive outlook due to strong project delivery from related companies [10] Electric New Energy - The report highlights the growth potential in the energy storage battery sector, with companies like Yiwei Lithium Energy expected to benefit from increased demand [24] - The company has adjusted its profit forecasts for 2025, reflecting a strong competitive position in the market [24] Textile and Apparel - The report indicates a decline in profit margins for companies like Li Ning, despite revenue growth [34] - The company is expected to maintain a strong brand presence, with a "buy" rating maintained [34]

查看完整报告 特别申明： 本订阅号中所涉及的证券研究信息由光大证券研究所编写，仅面向光大证券专业投资者客户，用作新媒体形势下研究 信息和研究观点的沟通交流。非光大证券专业投资者客户，请勿订阅、接收或使用本订阅号中的任何信息。本订阅号 难以设置访问权限，若给您造成不便，敬请谅解。光大证券研究所不会因关注、收到或阅读本订阅号推送内容而视相 关人员为光大证券的客户。 报告摘要 事件： 公司发布2025年半年度报告，25H1实现营业收入2.83亿元，同比增长2.44%；归母净利润0.76亿元，同比 增长2.80%。其中，25Q2实现营业收入1.74亿元，同比增长1.34%；归母净利润0.48亿元，同比增长 1.14%。上半年，公司经营活动现金流量净额为80.4万元，同比实现由负转正。 主业结构力学系统与电化学工作站业务经营稳健 上半年，结构力学性能测试分析系统收入1.94亿元，同比增长2.35%；电化学工作站收入0.28亿元，同比增 长10.33%。两项业务的毛利率分别为69.62%、67.83%，较上年同期分别提升3.30、2.93个百分点。结构安 全在线监测及防务装备PHM系统业务收入小幅下滑，上半年收入0.35 ...

Group 1 - The core viewpoint of the article highlights the performance and growth potential of various companies in different sectors, emphasizing their financial results and strategic initiatives [5][7][8]. Group 2 - 中油工程 (China Oil Engineering) reported a total revenue of 36.3 billion yuan for H1 2025, a year-on-year increase of 12.2%, but a net profit of 470 million yuan, down 10.9% year-on-year. The company is expected to benefit from the "Belt and Road" initiative and the petrochemical industry's international cooperation [5]. - 许继电气 (XJ Electric) experienced a revenue decline of 5.68% to 6.447 billion yuan in H1 2025, while net profit increased by 0.96% to 634 million yuan. The company is expanding its international market presence amid ongoing ultra-high voltage construction in China [5]. - 同飞股份 (Tongfei Co., Ltd.) is poised for growth due to increasing demand for liquid cooling technology in data centers, driven by the rise of AI and green development [5]. - 东华测试 (Donghua Testing) achieved a revenue of 283 million yuan in H1 2025, a 2.44% increase, with a net profit of 76 million yuan, up 2.80%. The company is focusing on the humanoid robot sector [7]. - 中微公司 (Zhongwei Company) expects H1 2025 revenue to be approximately 4.961 billion yuan, a year-on-year increase of about 43.88%, with net profit projected between 680 million and 730 million yuan, reflecting a growth of 31.61% to 41.28% [7]. - 天融信 (Tianrongxin) reported a revenue of 826 million yuan in H1 2025, down 5.38%, but net loss narrowed to 65 million yuan from 206 million yuan in the previous year. The company showed improvement in Q2 with a revenue of 491 million yuan, up 8.72% [7]. - 泡泡玛特 (Pop Mart) achieved a revenue of 13.88 billion yuan in H1 2025, a significant increase of 204.4%, with a gross profit of 9.76 billion yuan and a gross margin of 70.3%, up 6.3 percentage points. The adjusted net profit reached 4.71 billion yuan, a 362.8% increase [8].

（文章来源：证券日报） 证券日报网讯 8月22日晚间，东华测试发布公告称，公司第六届董事会第九次会议审议通过了《关于设 立分公司的议案》。 ...

（编辑 任世碧） 证券日报网讯 8月22日晚间，东华测试发布公告称，公司于2025年8月20日召开了第六届董事会第九次 会议，审议通过了《关于设立分公司的议案》，同意公司在武汉及西安设立分公司。武汉分公司于2025 年8月21日完成工商注册登记手续，并取得了武汉市洪山区行政审批局核发的《营业执照》。 ...

证券代码：300354 证券简称：东华测试 公告编号：2025-044 江苏东华测试技术股份有限公司 第六届董事会第九次会议决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，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 江苏东华测试技术股份有限公司（以下简称"公司"）于2025年8月20日在 公司会议室以现场与通讯相结合方式召开了第六届董事会第九次会议，会议通知 及相关资料于2025年8月16日通过邮件方式发出。本次董事会会议应出席董事7 名，实际出席董事7名。会议由董事长刘士钢主持，公司高级管理人员列席了会 议。会议的召集及召开程序符合《中华人民共和国公司法》及《公司章程》的规 定。 二、董事会会议审议情况 审议结果：赞成7票；反对0票；弃权0票，通过。 三、备查文件 1.经与会董事签字的第六届董事会第九次会议决议； 2.第六届董事会战略委员会会议决议。 1 特此公告。 经与会董事认真审议与表决，形成了以下决议： 1、审议通过《关于设立分公司的议案》 公司基于整体发展规划，拟设立江苏东华测试技术股份有限公司武汉分公司、 西安分公司。本次设立分公司有利于公司实现整体发展规划 ...

证券代码：300354 证券简称：东华测试 公告编号：2025-045 江苏东华测试技术股份有限公司 关于设立武汉分公司及西安分公司的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 江苏东华测试技术股份有限公司（以下简称"公司"）于2025年8月20日召 开了第六届董事会第九次会议，审议通过了《关于设立分公司的议案》，同意公 司在武汉及西安设立分公司，并授权公司经营管理层负责上述事项的具体实施并 办理有关手续。 武汉分公司于2025年8月21日完成工商注册登记手续，并取得了武汉市洪山 区行政审批局核发的《营业执照》，具体情况如下： 1、分公司名称：江苏东华测试技术股份有限公司武汉分公司 2、统一社会信用代码：91420111MAETN8FX11 3、分公司类型：股份有限公司分公司（上市、自然人投资或控股） 4、负责人：顾剑锋 5、成立日期：2025年8月21日 6、经营场所：湖北省武汉市洪山区杨园南路41号长航蓝晶绿洲8栋29层1室 7、经营范围：一般项目：技术服务、技术开发、技术咨询、技术交流、技 术转让、技术推广，信息系统集成服务，软件开发，软件销售 ...