每经AI快讯，2月26日，钢研纳克在投资者关系活动中表示，公司研发生产的量大面广型仪器与进口仪 器相比，在性能满足客户需求的同时，价格有较明显的优势；高端产品在检测下限等方面较进口仪器略 有差距，公司将持续大力度研发投入，力争产品达到国际水平。 ...

Group 1: Company Overview - The company specializes in the research, development, and application of metal material testing technology, providing services such as testing services, analytical instruments, standard materials, and corrosion protection [2][4]. - It is recognized as a leading authority in the domestic steel industry and has a comprehensive range of testing capabilities [4]. - As of 2024, the company achieved a revenue of CNY 1,097.67 million, a 15.60% increase year-on-year, with a net profit of CNY 145.02 million, up 15.37% [3]. Group 2: Business Segments - The main business segments include testing services (approximately 50% of revenue), instrument manufacturing (about 25%), standard materials, corrosion protection, and capability verification [3][4]. - The testing services cover various fields, including physical, chemical, mechanical, and corrosion testing, with a focus on high-tech material evaluation [4][6]. Group 3: Laboratory and Instrumentation - The company has established laboratories in multiple regions, including Beijing, Shanghai, and Chengdu, ensuring comprehensive service coverage across major areas [6]. - The instrumentation segment features over 60 models across 8 categories, with notable products like the spark direct reading spectrometer recognized as a champion by the Ministry of Industry and Information Technology [5]. Group 4: Competitive Advantages and Future Directions - The company’s instruments offer competitive pricing compared to imported products while meeting customer needs, with ongoing efforts to enhance high-end product capabilities [7][9]. - Future focus areas include deepening customer engagement, extending testing services, improving operational efficiency, and advancing high-end instrument development to increase market share [9].

Investment Rating - The report maintains an "Overweight" rating for the aerospace and military industry [8] Core Views - The successful controlled sea splashdown of the Long March 10 rocket's first stage marks a significant breakthrough in rocket payload capacity, which is crucial for the development of the commercial space sector and the acceleration of satellite deployment [1][11] - The report emphasizes the importance of reusable rocket technology in reducing launch costs and enhancing satellite internet construction, which is expected to benefit the satellite industry chain [15][12] Summary by Sections Industry Overview - The report highlights the advancements in China's reusable rocket technology, which is seen as a key factor in enhancing launch capacity and reducing costs, thereby accelerating satellite deployment [1][15] - The military modernization during the "14th Five-Year Plan" period is expected to shift from quantity to quality, creating structural opportunities in military equipment demand [2] Key Companies - Recommended companies include Torch Electronics, Hongyuan Electronics, AVIC Optoelectronics, Steel Research Nack, Gaode Infrared, Aerospace Intelligence, and AVIC High-Tech, all rated as "Buy" except for AVIC High-Tech, which is rated as "Hold" [3][37] - The report provides target prices for these companies, indicating strong growth potential based on their performance and market conditions [37] Market Performance - The report notes that the aerospace and military sector outperformed the market, with a 2.17% increase in the defense and military index, ranking 8th among 31 sectors [24] - The report includes a detailed analysis of stock performance, highlighting significant gainers and losers within the industry [9][10] Valuation Metrics - As of February 13, 2026, the Shenyin Wanguo defense and military sector index has a PE (TTM) of 97.40, indicating a high valuation relative to historical levels [29][34] - The report provides a breakdown of PE ratios for various sub-sectors within the military industry, indicating varying levels of valuation across different segments [29][36]

Core Insights - The report emphasizes the strong growth potential in the testing services industry, particularly driven by emerging sectors such as commercial aerospace and new technologies [4][6] - The testing services sector is closely linked to macroeconomic growth, with a projected global market size of approximately 2.3 trillion RMB by 2024, reflecting a CAGR of about 6% from 2021 to 2024 [4][24] - In China, the testing services market is expected to reach around 487.6 billion RMB by 2024, with a CAGR of approximately 10.5% from 2015 to 2024, indicating a robust growth trajectory [5][24] Industry Overview - The testing, inspection, and certification (TIC) industry serves various sectors including consumer goods, industrial products, and pharmaceuticals, covering all stages from R&D to production and distribution [16][24] - The industry is characterized by a large market space and stable growth, with demand closely tied to macroeconomic trends and government regulations [20][24] - Emerging technologies such as AI, electric vehicles, and commercial aerospace are expected to create new testing demands, raising the entry barriers for new players [6][20] Company Performance - The report analyzes 19 listed companies in the testing services sector, highlighting their revenue and profit performance, with notable companies including Huace Testing, Guangdian Measurement, and Su Testing [2][11] - In the first three quarters of 2025, the testing services sector in China reported a revenue of 30.4 billion RMB, a decline of 7% year-on-year, but a growth of 3% when excluding companies heavily involved in medical testing [5][57] - Leading companies such as Huace Testing, Guangdian Measurement, and Su Testing demonstrated superior performance, with revenue growth rates of 7%, 12%, and 9% respectively, significantly outpacing the industry average [5][62] Market Dynamics - The testing services market is experiencing a structural shift, with a trend towards consolidation as larger firms gain market share and smaller firms face challenges [44][50] - The report notes that the majority of testing institutions in China are small and micro-sized, which limits their ability to withstand economic pressures [50][51] - Government policies are increasingly supporting the marketization and consolidation of testing institutions, aiming to enhance the overall quality and efficiency of the industry [51][53] Financial Metrics - The report indicates that the average gross margin for the testing services sector has improved, reaching 26.2% in the first three quarters of 2025, reflecting a recovery in profitability [63] - The accounts receivable turnover days have increased from 90 days in 2019 to 176 days in 2025, indicating a slowdown in cash flow and potential credit risks within the industry [67][68] - The report highlights that the proportion of accounts receivable in relation to revenue has risen to 50%, suggesting increasing challenges in managing receivables [71]

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：300797 证券简称：钢研纳克 公告编号：2026-003 钢研纳克检测技术股份有限公司 关于第三届董事会第十二次会议决议的公告 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。 一、董事会召开情况 钢研纳克检测技术股份有限公司（以下简称"公司"）第三届董事会第十二次会议于2026年2月12日以通 讯方式召开，会议通知于2026年2月2日以专人送出、电子邮件等方式送达全体董事。 会议由公司董事长杨植岗先生主持，公司高级管理人员列席了本次会议。本次会议应出席董事人数9 人，实际出席董事人数9人。出席董事资格、人数以及召集、召开程序等均符合《中华人民共和国公司 法》等法律法规和《钢研纳克检测技术股份有限公司章程》的规定，本次会议合法有效。 二、董事会会议审议情况 经与会董事充分讨论，本次会议审议并通过了如下议案： 1、审议通过《关于补选第三届董事会审计委员会委员的议案》 表决结果：有效表决票9票，同意票9票，反对票0票，弃权票0票 具体内容详见2026年2月13日刊载于中国证监会指定信息披露网站巨潮资讯网 ...

证券日报网讯2月12日，钢研纳克（300797）发布公告称，公司董事会同意选举蒋劲锋先生为第三届董 事会审计委员会委员。 ...

证券代码：300797 证券简称：钢研纳克 公告编号：2026-004 钢研纳克检测技术股份有限公司 关于补选第三届董事会审计委员会委员的公告 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。 钢研纳克检测技术股份有限公司董事会 2026 年 2 月 12 日 钢研纳克检测技术股份有限公司（以下简称"公司"）于 2026 年 2 月 12 日召开了第三 届董事会第十二次会议，审议通过了《关于补选第三届董事会审计委员会委员的议案》，现 将相关事项公告如下： 公司董事会同意选举蒋劲锋先生为第三届董事会审计委员会委员，任期自本次董事会审 议通过之日起，至第三届董事会任期届满之日止。 补选完成后，公司第三届董事会审计委员会情况如下： | | 委员 | 召集人 | | --- | --- | --- | | | 佟岩（独立董事） | | | 审计委员会 | 谢洪（独立董事） | 佟岩（独立董事） | | | 蒋劲锋（职工代表董事） | | 特此公告。 ...

证券代码：300797 证券简称：钢研纳克 公告编号：2026-003 钢研纳克检测技术股份有限公司 1、审议通过《关于补选第三届董事会审计委员会委员的议案》 表决结果：有效表决票 9 票，同意票 9 票，反对票 0 票，弃权票 0 票 具体内容详见 2026 年 2 月 13 日刊载于中国证监会指定信息披露网站巨潮资讯网 （http://www.cninfo.com.cn）上的《关于补选第三届董事会审计委员会委员的公告》。 三、备查文件 关于第三届董事会第十二次会议决议的公告 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。 一、董事会召开情况 钢研纳克检测技术股份有限公司（以下简称"公司"）第三届董事会第十二次会议于 2026 年 2 月 12 日以通讯方式召开，会议通知于 2026 年 2 月 2 日以专人送出、电子邮件等方式送 达全体董事。 会议由公司董事长杨植岗先生主持，公司高级管理人员列席了本次会议。本次会议应出 席董事人数 9 人，实际出席董事人数 9 人。出席董事资格、人数以及召集、召开程序等均符 合《中华人民共和国公司法》等法律法规和《钢研纳克 ...

Core Insights - Steel Research Nack (300797) has shown double-digit growth in both revenue and net profit according to its Q3 2025 report, despite experiencing a net outflow of main funds on February 10, 2026 [1][3]. Stock Performance - On February 10, 2026, Steel Research Nack's stock closed at 18.35 CNY, down 0.49% with a net outflow of 4.78 million CNY from main funds, while retail investors contributed a net inflow of 6.67 million CNY. The trading volume reached 79.13 million CNY with a turnover rate of 1.14%. As of February 11, 2026, the stock price was 18.23 CNY, reflecting a 0.65% decline from the previous day, with a cumulative increase of 0.77% over the past five days and a volatility of 1.80% [2]. Financial Report Analysis - The Q3 2025 report revealed that Steel Research Nack's main revenue for the first three quarters was 806 million CNY, marking an 11.64% year-on-year increase. The net profit attributable to shareholders was approximately 99.70 million CNY, up 15.08% year-on-year, with a gross margin of 46.98%, an increase of 1.03 percentage points. In Q3 alone, revenue was 307 million CNY, reflecting a 15.77% year-on-year growth, and the growth rate of net profit excluding non-recurring items reached 21.19%. R&D expenses increased by 23.06% year-on-year, primarily directed towards high-end scientific instruments and new testing technologies [3]. Institutional Perspectives - In the past 90 days, one institution has rated Steel Research Nack as a "buy" with a target average price of 21.15 CNY. During the research, the company emphasized the stability of its core technical personnel, with the testing business accounting for approximately 50% of its operations, while the instrument segment is accelerating its high-end breakthroughs [4].

Investment Rating - The report maintains a "Buy" rating for the aerospace and military industry, with specific recommendations for several companies [8][42]. Core Viewpoints - The report emphasizes the increasing uncertainty in international security, highlighting opportunities in military trade as countries ramp up defense spending. For instance, the U.S. has approved military sales worth $6.67 billion to Israel and $9 billion to Saudi Arabia, indicating a vibrant military trade market [11][12]. - The report suggests that China's military equipment demand is expected to grow, particularly in new domains and advanced weaponry, aligning with the "14th Five-Year Plan" [13][17]. - The military trade market is anticipated to remain active, with China positioned as a key supplier capable of providing comprehensive solutions [11][12]. Summary by Sections Industry Investment Rating - The aerospace and military industry is rated as "Buy" with a focus on specific companies such as AVIC Shenyang Aircraft Corporation, Guorui Technology, and others [8][42]. Key Companies - Recommended companies include: - AVIC Shenyang Aircraft Corporation (600760 CH) - Guorui Technology (600562 CH) - Western Superconducting Technologies (688122 CH) - Guotai Group (603977 CH) - Ruichuang Micro-Nano (688002 CH) - Steel Research and Testing (300797 CH) - Northern Navigation (600435 CH) - Gaode Infrared (002414 CH) - Aerospace Rainbow (002389 CH) - Aerospace Intelligent Manufacturing (300446 CH) [3][42]. Market Trends - The report notes a structural shift in military equipment demand, with a focus on new technologies such as unmanned systems and advanced weaponry. The "14th Five-Year Plan" is expected to drive significant growth in these areas [13][15][16]. - The military trade market is projected to grow, with China's market share expected to increase from 5.87% to a more competitive position as global military spending rises [17][18]. Performance Metrics - As of February 6, 2026, the Shenyuan Defense and Military Index has a PE (TTM) of 95.29, indicating a high valuation relative to historical levels [39][40].