江苏力星通用钢球股份有限公司 2025 年半年度报告全文 江苏力星通用钢球股份有限公司 2025 年半年度报告 2025 年 8 月 1 江苏力星通用钢球股份有限公司 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。 公司负责人施祥贵、主管会计工作负责人周钰及会计机构负责人(会计主 管人员)吴文娟声明：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。 公司在经营管理中可能面临的风险因素已在本报告中第三节 " 管理层 讨论与分析 " 之 " 十、公司面临的风险和应对措施 " 部分予以描述。 敬请广大投资者关注，并注意投资风险。 公司计划不派发现金红利，不送红股，不以公积金转增股本。 2 | | | | 第一节 | 重要提示、目录和释义 | 2 | | --- | --- | --- | | 第二节 | 公司简介和主要财务指标 | 6 | | 第三节 | 管理层讨论与分析 | 9 | | 第四节 | 公司治 ...

（文章来源：每日经济新闻） 每经AI快讯，有投资者在投资者互动平台提问：请问公司产品和哪些品牌机器人厂家合作的？ 力星股份（300421.SZ）8月8日在投资者互动平台表示，公司产品可应用于机器人领域中所需的各类转 动单元中，具体应用视下游厂商实际对接客户而定。 ...

A股人形机器人板块震荡走低，兰生股份跌超9%，南京聚隆跌超5%，祥明智能、中联重科、力星股 份、中大力德跟跌。 ...

Group 1: M&A Activity Overview - From July 14 to July 20, there were 77 M&A events involving listed companies, with 27 classified as significant M&A transactions[9] - Out of the total M&A events, 12 were completed, including 1 significant M&A transaction involving Baota Industrial[9] - There were 3 failed M&A attempts by listed companies, specifically by Lixing Co., Hongming Co., and Zhongji Health[15] Group 2: Policy Updates - On July 18, Tianjin's financial authorities released measures to support M&A, focusing on 12 key industrial chains and establishing a resource pool for quality M&A targets[7] - The Shanghai G60 Science and Technology Innovation Group held a summit on July 16 to discuss M&A and overseas expansion in the context of innovation and industry leadership[7] Group 3: Market Performance - During the week of July 14 to July 20, the restructuring index outperformed the Wind All A index by 0.27%[19] - Over a mid-term view, the restructuring index's rolling 20-day return shifted from negative to positive compared to the Wind All A index[19] Group 4: Control Changes - Two listed companies reported changes in actual control during this period, with Shenjian Co. and Hualan Group undergoing ownership transitions[17]

Core Viewpoint - Lixing Co., Ltd. has decided to terminate the planned acquisition of Qingdao Feiyan Lingang Precision Steel Ball Manufacturing Co., Ltd. due to the inability to reach an agreement on relevant terms within the stipulated time frame [1][3]. Company Overview - Lixing Co., Ltd. operates in the general equipment manufacturing industry, focusing on the research, production, and sales of precision bearing rolling elements, including precision bearing steel balls, rollers, and ceramic balls [3]. - The company has experienced a decline in net profit for three consecutive years, with net profits of 90 million, 62 million, 60 million, and 55 million yuan from 2021 to 2024 [4]. Acquisition Details - The acquisition was intended to enhance Lixing's technological capabilities in non-bearing fields and create a strategic framework of "technology complementarity + market synergy" [3]. - Feiyan Steel Ball, established in 2004, specializes in the R&D and manufacturing of precision steel balls, holding over 90% market share in the commercial vehicle and heavy truck sectors in China [3]. Financial Performance - Lixing's revenue figures from 2021 to 2024 were 974 million, 981 million, 1.002 billion, and 1.045 billion yuan, respectively, indicating a gradual increase in revenue [4]. - The first quarter of 2025 showed a total revenue of 252 million yuan, a year-on-year increase of 4.66%, with a net profit of approximately 17.13 million yuan, reflecting an 11.28% increase [4].

Core Viewpoint - Lixing Co., Ltd. announced the termination of its acquisition of Qingdao Feiyan Lingang Precision Steel Ball Co., Ltd. due to the inability to reach an agreement on relevant terms within the stipulated time frame, prioritizing the protection of the company's and shareholders' rights [1][2]. Group 1: Acquisition Details - The acquisition was initially proposed on March 31, with Lixing planning to acquire a controlling stake in Feiyan Steel Ball through cash [2][4]. - Lixing aimed to enhance its non-bearing market presence and create a strategic framework of "technology complementarity + market synergy" through this acquisition [2][3]. - Feiyan Steel Ball, established in 2004, specializes in precision steel balls with a diameter range of 0.5 to 12.7mm, holding a dominant market share in the commercial vehicle and heavy truck sectors in China [3]. Group 2: Management Actions - During the acquisition process, six senior executives of Lixing disclosed plans to reduce their shareholdings, indicating potential concerns about the acquisition's progress [1][5]. - The first set of reductions was announced on May 23, involving three executives planning to sell a total of 190,000 shares, citing personal financial needs [5][6]. - A second announcement on June 17 revealed further plans from three additional executives to reduce their holdings by a total of 218,000 shares, also for personal financial reasons [6].

Company Focus - Postal Savings Bank plans to invest 10 billion yuan to establish China Post Financial Asset Investment Co., Ltd [2] - Anker Innovation is currently researching and evaluating equity financing in the Hong Kong capital market [2] - Hoshine Silicon Industry's controlling shareholder intends to transfer 5.08% of the company's shares to Xiao Xiukun for a total price of 2.634 billion yuan [2] - Shantui Co., Ltd. plans to issue H-shares and list on the Hong Kong Stock Exchange [2] Investment & Contracts - Jindi Co., Ltd. signed an industrial project investment contract with the Bishan District government for no less than 1.5 billion yuan [2] - Tuoxin Pharmaceutical intends to increase capital by 10 million yuan in Jingsan Biological, which has achieved the preparation of high-purity ergotamine [2] Equity Changes - Wuchan Huaneng plans to acquire 100% equity of Nantah Lake Technology for 1.457 billion yuan [3] - A shareholder of Aisecurity plans to reduce their holdings by no more than 3% of the company's shares [2] Performance & Earnings - Tiande Yu expects a net profit of 152 million yuan for the first half of the year, a year-on-year increase of 50.89% [4] - Pinming Technology anticipates a year-on-year net profit increase of 232%-303% for the first half of 2025 [4] Contracts & Project Wins - Pinggao Electric won a project from the State Grid with a total amount of approximately 1.45 billion yuan [4] Financing & Capital Increase - Shangwei Co., Ltd. plans to issue shares to its controlling shareholder Fuhua Chemical to raise no more than 1.144 billion yuan [2] Stock Price Movements - Zhongchen Technology's revenue from humanoid robot-related products accounts for no more than 1% of total revenue [2]

Group 1 - Postal Savings Bank plans to invest 10 billion yuan to establish China Post Financial Asset Investment Co., with a registered capital of 10 billion yuan, aiming to enhance comprehensive service capabilities and support technological innovation and private enterprises [1] - Tuo Xin Pharmaceutical intends to increase capital by 10 million yuan in Jiangsu Jin San Biotechnology Co., acquiring a 1.75% stake, with Jin San successfully producing high-purity ergothioneine for various products [2] - Anker Innovations is researching overseas share issuance to expand its global strategy and enhance brand influence, with no specific plan confirmed yet [3] Group 2 - Hoshine Silicon Industry's controlling shareholder plans to transfer 5.08% of shares to Xiao Xiugan for a total price of 2.634 billion yuan, with no change in control [4] - Zhuhai Guanyu has won a final ruling from the Supreme People's Court, dismissing the lawsuit from ATL, with 14 ATL patents declared invalid and no negative impact on the company's operations [5] - Lixing Co. has terminated the acquisition of Qingdao Feiyan Precision Steel Ball Manufacturing Co. due to failure to reach an agreement, with no adverse effects on its financial status [6] Group 3 - Pinming Technology expects a net profit of 28 million to 34 million yuan for the first half of the year, representing a year-on-year increase of 231.79% to 302.89% [7] - Tiande Yu's performance report anticipates a net profit of 152 million yuan for the first half, up 50.89% year-on-year [7] - Huahong Technology reports normal operations with no undisclosed significant matters [8]

Core Viewpoint - Lixing Co., Ltd. has decided to terminate the planned acquisition of Qingdao Feiyan Lingang Precision Steel Ball Manufacturing Co., Ltd. due to the inability to reach an agreement on relevant terms within the stipulated time frame, prioritizing the interests of the company and its shareholders [1][3]. Group 1: Acquisition Details - The acquisition was initially announced in late March, with Lixing intending to acquire a controlling stake in Feiyan Steel Ball for cash [1]. - Feiyan Steel Ball, established in 2004, specializes in the research and manufacturing of precision steel balls ranging from ∮0.5 to ∮12.7mm, with significant applications in automotive, aerospace, and precision machinery sectors [3]. - Feiyan Steel Ball holds over 90% market share in the commercial vehicle and heavy truck sectors in China, supplying international brands such as Jeep and Ford [3]. Group 2: Company Performance - Lixing Co., Ltd. operates in the general equipment manufacturing industry, focusing on the research, production, and sales of precision bearing rolling elements, including precision bearing steel balls and ceramic balls [3]. - The company has experienced a decline in net profit for three consecutive years, with revenues of 974 million, 981 million, 1.002 billion, and 1.045 billion yuan from 2021 to 2024, and net profits of 90 million, 62 million, 60 million, and 55 million yuan during the same period [5]. - In the first quarter of 2025, Lixing reported total revenue of 252 million yuan, a year-on-year increase of 4.66%, and a net profit of 17.13 million yuan, reflecting an 11.28% increase [5].

Core Viewpoint - Lixing Co., Ltd. has decided to terminate the acquisition of Feiyan Steel Ball due to the inability to reach an agreement on relevant terms within the stipulated time frame [1][3]. Group 1: Acquisition Details - Lixing Co., Ltd. initially announced on March 31 that it intended to acquire the controlling stake in Feiyan Steel Ball to expand its industrial chain [1]. - Feiyan Steel Ball, established in 2004, specializes in precision steel ball manufacturing and has a strong technological foundation [1][2]. - The company’s core products include bearing steel and stainless steel balls, which are widely used in automotive, aerospace, and precision machinery sectors [1][2]. Group 2: Market Position and Advantages - Feiyan Steel Ball holds over 90% market share in the domestic commercial vehicle and heavy truck sectors for its steel ball products, supplying well-known brands like Jeep and Ford [2]. - The company has developed a unique technological barrier in the micro steel ball sector (diameter below 3mm), making it irreplaceable in both domestic and international markets [2]. - Lixing Co., Ltd. is a leading enterprise in the domestic precision bearing steel ball sector, with applications in various industries including automotive, precision CNC machine tools, and renewable energy [2]. Group 3: Strategic Implications - The acquisition was expected to enhance Lixing Co., Ltd.'s competitiveness in the micro high-precision rolling body sector and support the import substitution strategy for high-end equipment manufacturing in China [2]. - The geographical advantage of Feiyan Steel Ball, located near Qingdao Port, would have facilitated easier access to Northeast Asia and European markets [3]. - Despite the termination of the acquisition, Lixing Co., Ltd. stated that it would not adversely affect its operational performance or financial status, and the company will continue to seek further development opportunities [3].