Group 1 - The company has a subsidiary that produces small and medium-sized components primarily for the aviation sector, with potential applications in other high-end equipment manufacturing fields such as gas turbines, high-speed rail, shipping, and petrochemicals [2] - The company is actively monitoring industry development opportunities and technological product application scenarios [2]

Group 1 - The company, Tuanan Co., stated that as of September 19, 2025, the number of registered shareholders is approximately 13,400 [2]

Summary of Tunan Co., Ltd. Conference Call Company Overview - Tunan Co., Ltd. is a rare profitable company in the military industry with a gross margin exceeding 45%, providing a solid value foundation and significant advantages within the sector [2][4][10]. Key Developments - The company is focusing on the development of its new machining business at the Shenyang branch, utilizing a "small core, large collaboration" model to partner with industry chain collaborators, thereby unlocking growth potential and complementing its Jiangsu headquarters [2][5]. - As of the first half of 2025, Tunan's total orders reached 1.75 billion yuan, showing substantial year-on-year and quarter-on-quarter growth, with significant contributions from the new Shenyang business expected to enhance revenue [2][6]. Industry Dynamics - The aerospace engine supply chain is gradually recovering, with expectations that Tunan will benefit from the industry's improving conditions in 2026, alongside the new business growth in Shenyang and steady recovery in Jiangsu [2][7]. Financial Projections - The company anticipates a net profit of approximately 300 million yuan for 2025, increasing to 430 million yuan in 2026, which corresponds to a valuation of about 26 times for 2026, indicating significant growth potential and a relatively safe valuation margin [2][8]. Shenyang Branch Business Outlook - The new business at the Shenyang branch is projected to generate revenues of 550 million yuan in 2025, 530 million yuan in 2026, and nearly 700 million yuan in 2027, contributing significantly to the company's income in the coming years [2][9]. - Although the profitability of the machining business may be slightly lower than that of the Jiangsu headquarters, it is expected to provide considerable profits due to better turnover rates [3][9]. Overall Assessment - Tunan Co., Ltd. demonstrates clear incremental changes and possesses a relatively safe valuation margin. The optimistic outlook for the new business at the Shenyang branch, along with strong performance in terms of revenue and profitability, supports a positive view on the company's future development [2][10].

Group 1 - The company's subsidiary produces small and medium-sized components primarily used in the aviation sector, with potential applications in high-end equipment manufacturing such as gas turbines, high-speed trains, ships, and petrochemicals [1] - The current production capacity of Shenyang Tunan Precision Parts Manufacturing Co., Ltd. is 500,000 aviation-related components annually, while the construction of an automated production line with a capacity of 10 million components per year is ongoing at Shenyang Tunan Intelligent Manufacturing Co., Ltd. [1] - No significant new construction projects are planned for the subsidiary beyond the aforementioned production capacity developments [1]

Market Overview - On September 17, the metal new materials sector rose by 1.95%, with Huitong New Materials leading the gains [1] - The Shanghai Composite Index closed at 3876.34, up 0.37%, while the Shenzhen Component Index closed at 13215.46, up 1.16% [1] Top Performers - Huitong New Materials (Code: 833751) closed at 25.15, up 7.16% with a trading volume of 47,400 shares and a transaction value of 116 million [1] - Jinli Permanent Magnet (Code: 300748) closed at 37.90, up 6.49% with a trading volume of 928,700 shares and a transaction value of 344.3 million [1] - Tunan Co., Ltd. (Code: 300855) closed at 28.49, up 4.63% with a trading volume of 83,600 shares and a transaction value of 235 million [1] Underperformers - Shenzhen New Star (Code: 603978) closed at 20.51, down 3.93% with a trading volume of 161,500 shares [2] - Youyan Powder Materials (Code: 688456) closed at 51.93, down 3.83% with a trading volume of 38,200 shares [2] - Zhongzhou Special Materials (Code: 300963) closed at 18.36, down 1.98% with a trading volume of 115,100 shares [2] Capital Flow - The metal new materials sector saw a net inflow of 287 million from institutional investors, while retail investors experienced a net outflow of 234 million [2][3] - Major stocks like Jinli Permanent Magnet and Boweitai Gold saw significant net inflows from institutional investors, indicating strong institutional interest [3] Summary of Individual Stock Performance - Jinli Permanent Magnet had a net inflow of 221 million from institutional investors, while retail investors saw a net outflow of 174 million [3] - Boweitai Gold had a net inflow of 46.73 million from institutional investors, with retail investors experiencing a net outflow of 1.94 million [3] - Zhenghai Magnetic Materials had a net inflow of 45.98 million from institutional investors, while retail investors saw a net outflow of 4.52 million [3]

Group 1 - The company, Tunan Co., Ltd. (stock code: 300855), reported that as of September 10, 2025, the number of registered shareholders is approximately 13,200 [1]

数据显示，长盛基金旗下1只基金重仓图南股份。长盛航天海工混合A（000535）二季度增持6700股， 持有股数23.33万股，占基金净值比例为3.11%，位居第十大重仓股。根据测算，今日浮盈赚取约32.43 万元。 长盛航天海工混合A（000535）成立日期2014年3月11日，最新规模1.59亿。今年以来收益17.32%，同 类排名4153/8180；近一年收益38.81%，同类排名3518/7978；成立以来收益162.08%。 长盛航天海工混合A（000535）基金经理为王柄方。 9月4日，图南股份涨5%，截至发稿，报29.17元/股，成交5394.52万元，换手率0.64%，总市值115.38亿 元。 资料显示，江苏图南合金股份有限公司位于江苏省丹阳市凤林大道9号，成立日期1991年5月28日，上市 日期2020年7月23日，公司主营业务涉及高温合金、特种不锈钢等高性能合金材料及其制品的研发、生 产和销售。主营业务收入构成为：变形高温合金46.24%，铸造高温合金28.17%，其他合金制品 10.63%，其他业务收入8.31%，特种不锈钢5.23%，中小零部件1.42%。 从基金十大重仓股角度 截至发 ...

Group 1 - The core viewpoint of the news is that Tunan Co., Ltd. has seen a 5% increase in stock price, reaching 29.17 yuan per share, with a total market capitalization of 11.538 billion yuan [1] - Tunan Co., Ltd. specializes in the research, production, and sales of high-performance alloy materials, including high-temperature alloys and special stainless steels, with its main business revenue composition being: 46.24% from deformed high-temperature alloys, 28.17% from cast high-temperature alloys, and 10.63% from other alloy products [1] - The company was established on May 28, 1991, and went public on July 23, 2020 [1] Group 2 - Manulife Fund holds a significant position in Tunan Co., Ltd., with its Manulife New Starting Mixed A Fund (001254) holding 33,500 shares, accounting for 1.17% of the fund's net value, ranking as the seventh largest holding [2] - The Manulife New Starting Mixed A Fund has achieved a year-to-date return of 12.85% and a one-year return of 21.76%, with a total fund size of 67.8524 million yuan [2] Group 3 - The fund managers of Manulife New Starting Mixed A Fund are Liu Xiaocheng and Ning Xiao, with Liu having a tenure of 12 years and 271 days and a best fund return of 86.46% during his tenure [3] - Ning Xiao has a tenure of 5 years and 129 days, with a best fund return of 19.75% during his tenure [3]

Group 1 - The company is currently adopting a "production by order" model to align with customer demand [2] - The overall capacity utilization rate for the first half of 2025 is expected to decline compared to the same period in 2024 [2] - Detailed information regarding the company's specific production and sales volume, product structure, and direct material cost changes will be disclosed in the upcoming annual report [2]

Core Viewpoint - The company announced a cash dividend distribution plan for the first half of 2025, indicating a commitment to returning value to shareholders [1] Group 1 - The dividend distribution is set at 1.000000 RMB per 10 shares, which translates to a total payout based on the current total share capital of 395,531,500 shares [1] - The record date for shareholders to be eligible for the dividend is September 11, 2025, while the ex-dividend date is September 12, 2025 [1]