Core Viewpoint - Maimai Co., Ltd. has experienced fluctuations in stock price and financial performance, with a notable decrease in revenue and net profit in the first half of 2025, while also showing some recent stock price recovery [1][2]. Financial Performance - As of June 30, 2025, Maimai Co., Ltd. reported a revenue of 4.213 billion yuan, a year-on-year decrease of 13.48% [2]. - The net profit attributable to shareholders for the same period was 394 million yuan, down 14.59% year-on-year [2]. - Cumulative cash dividends since the company's A-share listing amount to 1.349 billion yuan, with 1.013 billion yuan distributed over the past three years [3]. Stock Market Activity - On September 18, 2023, Maimai's stock price increased by 2.07%, reaching 93.19 yuan per share, with a trading volume of 286 million yuan and a turnover rate of 1.62% [1]. - The company has a total market capitalization of 26.038 billion yuan [1]. - Year-to-date, Maimai's stock price has decreased by 10.44%, but it has seen a 16.70% increase over the past 20 days and a 38.26% increase over the past 60 days [1]. Shareholder Information - As of June 30, 2025, the number of shareholders increased by 14.86% to 31,700, while the average number of tradable shares per person decreased by 12.36% to 6,102 shares [2]. - The top ten circulating shareholders include notable funds, with changes in holdings observed among major institutional investors [3].

Investment Rating - The report maintains a "Recommended" rating for the OLED industry chain related equipment stocks [5]. Core Insights - The construction of the 8.6 generation OLED production lines is accelerating, with TCL Technology announcing a joint investment of 29.5 billion RMB to build a new production line, expected to start in November 2025 and take 24 months to complete [1][8]. - The demand for OLED panels in automotive and IT applications is expected to drive significant growth, with AMOLED panel shipments projected to exceed 1.33 billion units by 2030, capturing 35% of the market share [3][21]. - The report highlights the competitive landscape, noting that major players like Samsung Display, BOE, and Visionox are also investing heavily in 8.6 generation OLED production lines, with total investments nearing 170 billion RMB [1][11]. Summary by Sections Section 1: Industry Developments - TCL, Samsung Display, BOE, and Visionox are all actively investing in 8.6 generation OLED production lines, with TCL's new line set to produce approximately 22,500 glass substrates per month [1][11]. - The report discusses the three main OLED technologies: FMM OLED, ViP OLED, and printed OLED, each with its advantages and disadvantages [2][20]. Section 2: Market Trends - The report anticipates a compound annual growth rate (CAGR) of 33% for laptops and 27% for automotive displays by 2030, indicating strong demand for OLED technology in these sectors [3][21]. - Counterpoint Research data shows that Samsung Display held a 37% market share in the global OLED panel market as of Q2 2025, with significant growth in laptop and display panel shipments [22][26]. Section 3: Investment Recommendations - The report suggests focusing on companies within the OLED supply chain, including Aolide, Linde Equipment, Dazhu Laser, and Maiwei Co., which are positioned to benefit from the growth in OLED production [4][31][35][38].

| 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 300776 | 帝尔激光 | 73.10 | -5.25% | 7.08万 | 5.21亿 | | 688503 | 業和材料 | 65.48 | -4.41% | 19.67万 | 13.22 乙 | | 603185 | 弘元绿能 | 23.37 | -3.27% | 22.26万 | 5.22亿 | | 688598 | 金博股份 | 35.87 | -3.13% | 8.01万 | 2.88亿 | | 003022 | 联泓新科 | 22.32 | -3.00% | 39.29万 | 8.95 | | 300751 | 迈为股份 | 86'06 | -2.99% | 6.34万 | 5.79亿 | | 834770 | 文能案 | 20.67 | -2.73% | 5.92万 | 1.23亿 | | 000821 | 京山轻机 | 13.17 | -2.66% | 40.60万 | 5.37亿 | | 688472 | 阿特斯 | 12. ...

9月11日，迈为股份盘中上涨2.03%，截至11:27，报92.35元/股，成交3.32亿元，换手率1.89%，总市值 258.03亿元。 资金流向方面，主力资金净流入159.10万元，特大单买入1189.95万元，占比3.58%，卖出2388.99万元， 占比7.20%；大单买入8169.90万元，占比24.61%，卖出6811.76万元，占比20.52%。 责任编辑：小浪快报 迈为股份所属申万行业为：电力设备-光伏设备-光伏加工设备。所属概念板块包括：高派息、钙钛矿电 池、送转填权、HJT电池、锂电池等。 截至6月30日，迈为股份股东户数3.17万，较上期增加14.86%；人均流通股6102股，较上期减少 12.36%。2025年1月-6月，迈为股份实现营业收入42.13亿元，同比减少13.48%；归母净利润3.94亿元， 同比减少14.59%。 分红方面，迈为股份A股上市后累计派现13.49亿元。近三年，累计派现10.13亿元。 机构持仓方面，截止2025年6月30日，迈为股份十大流通股东中，睿远成长价值混合A（007119）位居 第五大流通股东，持股691.11万股，相比上期减少111.06万股。香港 ...

Core Points - The company announced a cash dividend distribution plan for the first half of 2025, proposing a payment of 5.000000 RMB per 10 shares to all shareholders [2] - The total number of shares used as the basis for the dividend distribution is 278,396,492 shares, excluding repurchased shares [2] - The record date for the dividend is set for September 16, 2025, and the ex-dividend date is September 17, 2025 [2]

证券代码：300751 证券简称：迈为股份 公告编号：2025-047 苏州迈为科技股份有限公司 2025年半年度权益分派实施公告 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。 特别提示： 1、截止本公告披露日，苏州迈为科技股份有限公司（以下简称"公司"） 回购专用证券账户中股份数量为 1,008,514 股。公司回购专用证券账户中的股份 不享有利润分配、公积金转增股本等权利，公司以现有总股本 279,405,006 股剔 除回购专用证券账户中1,008,514股后的278,396,492股为基数进行本次权益分 派。 2、本次现金分红总额=实际参与现金分红的股本×每 10 股分红金额÷10 股 =278,396,492 股×5 元÷10 股= 139,198,246.00 元（含税）；按公司总股本折 算每 10 股现金红利=现金分红总额÷本次变动前总股本×10 股=139,198,246.00 元÷279,405,006 股*10 股=4.981952 元，每股现金红利=4.981952 元÷10= 0.4981952 元。 本次权益分派实施后的除权除息参考 ...

Core Viewpoint - The company reported a 15% year-on-year decline in net profit attributable to shareholders for the first half of 2025, while its overall profitability improved. The semiconductor and display business showed significant growth, and with the expansion of new photovoltaic technologies and the ramp-up of the semiconductor business, the company's revenue is expected to achieve high growth. The buy rating is maintained [1][4]. Financial Performance - In the first half of 2025, the company achieved operating revenue of 4.213 billion yuan, a decrease of 13.48% year-on-year. The net profit attributable to shareholders was 394 million yuan, down 14.59% year-on-year. The net profit after deducting non-recurring gains and losses was 364 million yuan, a decrease of 10.18% [2]. - In Q2 2025, the company achieved a net profit attributable to shareholders of 232 million yuan, an increase of 15.31% year-on-year and a 43% increase quarter-on-quarter [2]. Business Growth - The semiconductor and display business achieved operating revenue of 127 million yuan in the first half of 2025, a remarkable year-on-year growth of 496.90%. The company focuses on etching and thin-film deposition equipment in the semiconductor wafer manufacturing sector, with significant breakthroughs in high-selectivity etching and atomic layer deposition equipment, entering mass production [2]. - The company has pioneered an "etching + bonding overall solution" in the semiconductor packaging equipment sector, securing the top market share in domestic wafer laser grooving equipment [2]. Long-term Growth Potential - The company is expected to benefit from the expansion of new photovoltaic technologies, particularly HJT technology, which offers high automation, high unmanned operation, and high manufacturing yield, providing advantages for overseas expansion. The development of silicon-based perovskite/heterojunction tandem solar cell technology is identified as a key direction for future photovoltaic technology [3]. - The rapid breakthrough in the company's semiconductor business, particularly in selective etching technology, is anticipated to create a second growth curve for the company [3]. Valuation - Based on the company's semi-annual performance and the industrialization of HJT technology, the earnings per share forecasts for 2025-2027 have been adjusted to 2.95, 3.94, and 4.37 yuan, respectively, with corresponding price-to-earnings ratios of 31.8, 23.8, and 21.5 times. The buy rating is maintained due to breakthroughs in the semiconductor business [4].

300751.SZ 买入 原评级：买入 市场价格:人民币 93.77 板块评级:强于大市 股价表现 电力设备 | 证券研究报告 — 调整盈利预测 2025 年 9 月 9 日 (%) 今年 至今 1 个月 3 个月 12 个月 绝对 (9.4) 29.6 36.0 14.8 相对深圳成指 (29.5) 19.9 16.5 (32.6) 发行股数 (百万) 279.41 (19%) (1%) 17% 34% 52% 70% Sep-24 Oct-24 Nov-24 Dec-24 Jan-25 Feb-25 Mar-25 Apr-25 May-25 Jun-25 Jul-25 Sep-25 迈为股份 深圳成指 | 流通股 (百万) | 193.35 | | --- | --- | | 总市值 (人民币 百万) | 26,199.81 | | 3 个月日均交易额 (人民币 百万) | 424.45 | | 主要股东 | | | 周剑 | 22.12% | 资料来源：公司公告， Wind ，中银证券 以 2025 年 9 月 4 日收市价为标准 相关研究报告 《迈为股份》20241114 《迈为股份》20240507 ...

（文章来源：证券日报） 证券日报网讯 9月8日晚间，迈为股份发布公告称，公司于2025年9月8日召开职工代表大会，审议通过 了《关于选举职工代表董事的议案》。经职工代表大会民主选举，选举施政辉先生担任公司职工代表董 事。 ...

（文章来源：证券日报） 证券日报网讯 9月8日晚间，迈为股份发布公告称，公司第三届董事会第十六次会议审议通过了《关于 调整第三届董事会审计委员会成员的议案》等多项议案。 ...