编号：2025-013 |  投资者关系 | 特定对象调研 □分析师会议 □媒体采访 | | --- | --- | | 活动类别 | 业绩说明会 □新闻发布会 □路演活动 | | | □现场参观 □其他 （请文字说明其他活动内容） | | 参与单位名称及 | 东北证券董军男，西部证券张艺杰，财通证券邵沙锞，景商投资张可， | | 人员姓名 | 坤徽投资陈彦宁，浦泓投资吴敏，玖石投资黄润，朴拙资本苗天一， | | | 通乾投资朱灵。 | | 时 间 | 2025 年 9 月 3 日 9:00—10:00 | | 地 点 | 上海凯宾斯基大酒店 | | 上市公司 | 董事会秘书：何寅、证券事务代表：颜希勇 | | 接待人员姓名 | | | | 公司于 9 月 3 日 9:00—10:00 参加东北证券策略会，并就投资者 | | | 关注的问题进行了回复。主要问题和回复如下： | | | 1、请介绍下公司 2025 年半年度的基本情况。 | | | 公司主营业务为自润滑轴承及高性能聚合物的研发、生产及销售，主 | | | 要产品为自润滑轴承、高性能改性工程塑料及氟塑料制品等产品。公 | | | 司产品广泛应用 ...

事件： 公司发布2025 年半年度报告：2025 年半年度公司实现营收6.18 亿元，同比增长11.03%；分别实现归母/ 扣非归母净利润1.26/1.17 亿元，同比分别增长9.22%/7.12%。其中第二季度公司实现收入3.36 亿元，同 比增长19.73%，实现归母/扣非归母净利润分别为0.73/0.67 亿元，同比分别增长15.58%/11.70%。 下游汽车产销两旺，公司业绩稳步增长 多领域具备应用空间，人形机器人部分产品实现批量销售随着新应用领域的开拓，自润滑轴承行业未来 的市场空间将更加广阔，参考发达国家应用，于建筑装饰，房屋、桥梁的减震、防震、防胀设施等领域 应用深度均存在较大挖掘空间。机器人业务方面，公司研究方向主要是应用于关节处的自润滑轴承、部 分直线执行器中的产品，以及灵巧手的相关部件。目前公司与机器人产业链合作的相关方包括机器人主 机厂、供应商、灵巧手等研发生产厂家。公司根据客户的需求进行相应的产品、应用开发，目前有部分 产品在机器人零部件领域已实现批量销售，部分产品尚处于送样及试验阶段。 投资建议与盈利预测 公司是国内自润滑轴承行业领军企业，汽车及工程机械滑轴业务发展稳健，人形机器人 ...

Investment Rating - The investment rating for the company is "Accumulate" [1] Core Views - The company reported a revenue of 618 million yuan for the first half of 2025, representing a year-on-year growth of 11.03%. The net profit attributable to shareholders was 126 million yuan, up 9.22% year-on-year [2] - The automotive industry is experiencing robust production and sales, which is driving the company's performance. In the first half of 2025, the company's revenue from various bearing products showed significant growth, with self-lubricating bearings increasing by 9.08%, bi-metal boundary lubricated bearings by 18.12%, and metal-based self-lubricating bearings by 21.93% [3] - The company's gross margin and net profit margin for the first half of 2025 were 34.54% and 20.38%, respectively, showing stable profitability. The company maintained good cost control, with a slight decrease in financial expenses due to currency exchange gains [4] - The self-lubricating bearing industry has broad application potential, especially in new fields such as construction and robotics. The company has begun to achieve bulk sales of certain products in the robotics sector [5] - The company is a leading player in the domestic self-lubricating bearing industry, with expected revenue growth from 2025 to 2027 projected at 12.93 billion yuan, 14.87 billion yuan, and 17.33 billion yuan, respectively. The net profit is expected to reach 2.65 billion yuan, 3.09 billion yuan, and 3.66 billion yuan during the same period [6] Financial Summary - For the first half of 2025, the company achieved a revenue of 618 million yuan, with a net profit of 126 million yuan, reflecting a year-on-year growth of 11.03% and 9.22%, respectively [2] - The revenue from self-lubricating bearings, bi-metal boundary lubricated bearings, and metal-based self-lubricating bearings for the first half of 2025 was 213 million yuan, 112 million yuan, and 104 million yuan, respectively [3] - The company's financial forecasts indicate a steady increase in revenue and net profit from 2025 to 2027, with projected earnings per share (EPS) of 0.89 yuan, 1.03 yuan, and 1.22 yuan [6]

股票研究/[Table_Date] 2025.09.01 农业机器人迎"AI"机遇，金火机床项目开工 [Table_Industry] 机械制造业 ——机械行业周报 | [姓名table_Authors] | 电话 | 邮箱 | 登记编号 | | --- | --- | --- | --- | | 肖群稀(分析师) | 0755-23976830 | xiaoqunxi@gtht.com | S0880522120001 | | 黄龙(分析师) | 021-38031028 | huanglong@gtht.com | S0880525070027 | 本报告导读： 上周（2025/8/25-2025/8/29）机械设备指数涨跌幅为+1.15%。国务院发"AI+"意 见助农业机器人发展；金火科技高端机床及自动化产线项目动工；通用技术国测时 栅与西门子就机床合作达共识。 行 投资要点： 力边界持续突破》2025.08.24 机械制造业《具身智能重要方案发布，商业低轨 卫星密集升空》2025.08.10 机械制造业《上海助推具身智能产业集群发展， 多款机器人产品亮相 2025 世界机器人大会》 2025.08.1 ...

Market Sentiment - The current market sentiment score is 73, indicating a "relatively hot" market condition, which suggests a gradual upward trend supported by recent improvements in market sentiment and policy support [6][9][20]. Hot Themes Tracking - **Robotics Theme**: Nvidia is set to launch a new "brain" for robots, generating interest in related stocks such as Wolong Electric Drive (600580) and Changsheng Bearing (300718) [6]. - **GPU Theme**: The Ministry of Industry and Information Technology emphasizes the need to enhance computing power resources and promote the development of GPU chips, with related stocks including Loongson Technology (688047) and Jingjia Micro (300474) [6]. - **Rare Earth Theme**: The rare earth sector is gaining traction, with a recent seminar focusing on the integration of rare earth materials with low-altitude economy and robotics, involving companies like Northern Rare Earth (600111) and Guangsheng Nonferrous Metals (600259) [6]. Capital Flow Analysis - The top ten stocks with the highest net inflow include Dongfang Caifu (300059) with a net inflow of 323.69 million, followed by Tongfu Microelectronics (002156) at 179.80 million [10]. - The top ten stocks with the highest financing net purchases include Dongfang Caifu (300059) at 152.28 million and Ningde Times (300750) at 125.01 million [11]. - The top ten stocks with the highest net outflow include Lingyi iTech (002600) with a net outflow of -202.37 million and Gree Electric Appliances (000651) at -171.36 million [21]. Industry Insights - The electronics sector shows significant net inflow, indicating strong investor interest, while the machinery and automotive sectors are experiencing notable net outflows, suggesting caution among investors [15][16][21].

Group 1 - Five executives plan to reduce their holdings, totaling 30,638,139 shares (10.253% of total share capital), with a maximum reduction of 3,595,000 shares (1.203% of total share capital) [1][2] - The reduction period is set from September 19, 2025, to October 18, 2025, within one month after the announcement [2] - The reduction will be executed through centralized bidding or block trading, driven by personal funding needs [2] Group 2 - Vice Chairman Lu Xiaolin plans to reduce holdings by up to 1.47 million shares (0.492%), while other executives will also reduce their holdings in smaller amounts [3] - The minimum reduction price will not be lower than the company's initial public offering price, adjusted for rights and dividends [4] - The shares being reduced are sourced from pre-IPO shares and stock dividends, with no change in control or impact on the company's ongoing operations [4]

Core Viewpoint - As of August 28, no listed companies have disclosed any increase in shareholding, while 21 companies have announced share reductions by their shareholders [1]. Summary by Category Share Reduction Announcements - Keg Precision Machinery: Controlling shareholder plans to reduce holdings by up to 3% [2] - Oulu Tong: Controlling shareholder and actual controller's concerted action party plans to reduce holdings by up to 1.74% [2] - Nanmo Biology: Plans to reduce repurchased shares by up to 1% of total share capital [2] - Weike Technology: Three shareholders plan to transfer a total of 2.99% of total share capital [2] - Jino Medical: Shareholder plans to reduce holdings by up to 0.04% [2] - Zhejiang Shiyu: Controlling shareholder plans to reduce holdings by up to 2% [2] - Zhongke Tongda: Shareholder Wuhan Gaoke plans to reduce holdings by up to 1% [2] - Chunzong Technology: Multiple shareholders plan to reduce holdings by up to 2% [2] - Wantong Expressway: Shareholder China Merchants Highway plans to reduce holdings by up to 3% [2] - Tai Rui Machinery: Actual controller Zheng Jianguo plans to reduce holdings by up to 2.95% [2] - Haotong Technology: Actual controller Xia Jun and specific shareholder Xuzhou Botong plan to reduce holdings by up to 3% [2] - Changsheng Bearing: Some senior management plans to reduce holdings by up to 1.2% [2] - Dongtian Micro: Shareholder plans to reduce holdings by up to 0.57% [2] - Aojie Technology: Shareholder Ali Network plans to reduce holdings by up to 3% [2] - Bocheng Shares: Some directors and senior management plan to reduce holdings [2] - Rongtai Shares: Shareholder Tai'an Runtu plans to reduce holdings by up to 1.05% [2] - Shangwei New Materials: Jinfeng Investment Holdings has completed the reduction of 4.0336 million shares [2] - Zhongchu Logistics: Senior management member Chu Xuri plans to reduce holdings by up to 0.09% [2] - Hengsheng Energy: One of the actual controllers, Gan Shunxian, plans to reduce holdings by up to 2% [2] - Jinghua New Materials: Controlling shareholder plans to reduce holdings by up to 3.01% [2] - New Coordinates: Shareholder plans to reduce holdings by up to 1% [2]

格隆汇8月28日｜长盛轴承(300718.SZ)公告称，公司副董事长、常务副总经理陆晓林计划减持不超过 147万股，董事、副总经理曹寅超计划减持不超过100万股，监事王伟杰计划减持不超过54万股，总工程 师陆忠泉计划减持不超过50万股，副总经理戴海林计划减持不超过8.5万股。上述人员拟合计减持不超 过359.5万股，占公司总股本的1.203%。 ...

证券代码：300718 证券简称：长盛轴承 公告编号：2025-048 浙江长盛滑动轴承股份有限公司 关于部分董事、监事、高级管理人员减持股份预披露的公告 公司股东陆晓林先生、曹寅超先生、王伟杰先生、陆忠泉先生、戴海林先生保证提 供的信息内容真实、准确和完整，没有虚假记载、误导性陈述或重大遗漏。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一致。 特别提示： 1、直接持有浙江长盛滑动轴承股份有限公司（以下简称"公司"或"本公司"） 股份 11,493,750 股（占公司股份总数的 3.847%。占已剔除公司回购专用证券账户中的 股份数量后的公司股份总数的 3.868%）的副董事长、常务副总经理陆晓林先生计划在 本公告披露之日起 15 个交易日后的 1 个月内以集中竞价或大宗交易的方式减持本公司 股份不超过 1,470,000 股（占公司股份总数的 0.492%。占已剔除公司回购专用证券账 户中的股份数量后的公司股份总数的 0.495%）。 2、直接持有本公司股份 8,687,000 股（占公司股份总数的 2.907%。占已剔除公司 回购专用证券账户中的股份数量后的公司股份总数的 2.924%） ...

Group 1 - The company achieved steady growth in the first half of 2025, with operating revenue of 618 million yuan, a year-on-year increase of 11.03%, and a net profit attributable to shareholders of 126 million yuan, up 9.22% year-on-year [1] - The company's gross profit margin remained high at 34.54%, and the management of period expenses showed significant improvement, with the sales expense ratio decreasing from 11.21% in 2024 to 10.31% in the first half of 2025 [1] - In Q2 2025, the company saw a notable recovery in performance, with revenue of 336 million yuan, a year-on-year increase of 19.73%, and a net profit of 73 million yuan, up 15.58% year-on-year [1] Group 2 - The demand in traditional industries continues to recover, with the domestic automotive production and sales increasing by 12.5% and 11.4% respectively in the first half of 2025, and the penetration rate of new energy vehicles reaching 44.3% [2] - The company is actively expanding into the robotics sector, focusing on self-lubricating bearings for joints and components for dexterous hands, with some products already achieving small-scale sales in the robotics parts market [2] - Revenue forecasts for the company are projected to be 1.306 billion yuan in 2025, 1.506 billion yuan in 2026, and 1.740 billion yuan in 2027, with net profits expected to be 262 million yuan, 316 million yuan, and 371 million yuan respectively [2]