图南股份最新一期业绩显示，截至2025中报，公司营业总收入5.99亿元、同比减少18.16%，归属净利润 9296.70万元，同比减少51.41%，扣非净利润9038.73万元，同比减少52.97%，流动比率4.915、速动比率 2.993、资产负债率23.00%。 金融界消息 截至2025年8月25日收盘，图南股份（300855）报收于30.89元，上涨0.52%，换手率2.6%， 成交量7.61万手，成交金额2.35亿元。 资金流向方面，今日主力资金净流入1390.83万元，占比成交额5.91%。其中，超大单净流入417.88万 元、占成交额1.78%，大单净流入972.95万元、占成交额4.13%，中单净流出流入2296.01万元、占成交 额9.76%，小单净流出3686.84万元、占成交额15.66%。 通过天眼查大数据分析，江苏图南合金股份有限公司共对外投资了6家企业，参与招投标项目131次，知 识产权方面有商标信息15条，专利信息75条，此外企业还拥有行政许可29个。 来源：金融界 天眼查商业履历信息显示，江苏图南合金股份有限公司，成立于1991年，位于镇江市，是一家以从事有 色金属冶炼和压延加工 ...

Investment Rating - The report maintains an "Overweight" rating for the steel industry [5]. Core Viewpoints - Demand is expected to gradually bottom out, and the supply side is beginning to show signs of market-driven clearance, indicating a potential recovery in the steel industry's fundamentals [3][4]. - The report anticipates that if supply policies are implemented, the speed of supply contraction will accelerate, leading to a quicker upward trend in the industry [3]. Summary by Sections Steel Market Overview - The apparent consumption of five major steel products reached 8.5299 million tons, an increase of 2.64% week-on-week [24]. - The total steel inventory was 14.4104 million tons, with a week-on-week increase of 2.25% [11]. - The operating rate of blast furnaces in 247 steel mills was 83.36%, a decrease of 0.23 percentage points week-on-week [28]. Production and Profitability - The total steel production was 8.7806 million tons, an increase of 0.73% week-on-week [30]. - The average gross profit for rebar was 243.7 CNY/ton, down 13.4% week-on-week, while hot-rolled coil gross profit was 201.7 CNY/ton, down 13.5% week-on-week [35]. Demand and Supply Dynamics - The report notes a decline in real estate demand, but infrastructure and manufacturing sectors are expected to maintain stable growth [3]. - Steel exports from China maintained a year-on-year growth of 9.2% in the first half of the year [3]. Raw Material Prices - Iron ore prices decreased, with the spot price dropping to 765 CNY/ton, a decline of 1.54% [42]. - Coking coal prices remained stable at 1430 CNY/ton, while coking prices increased to 1660 CNY/ton, a rise of 3.11% [42]. Recommendations - The report recommends focusing on leading companies with technological and product structure advantages, such as Baosteel and Hesteel, as well as companies with low valuations and high dividends like CITIC Special Steel [3].

Investment Rating - The report maintains a "Buy" rating for the company, expecting a relative increase in stock price of over 20% compared to the benchmark index within the next six months [4][14]. Core Insights - The company experienced a significant increase in orders, indicating potential for a second growth curve in its components business. The revenue from signed contracts yet to be fulfilled reached 1.75 billion yuan, a 478% increase from the end of 2024 [7][4]. - Despite a decrease in overall revenue and net profit in the first half of 2025, the second quarter showed signs of improvement with a 9% quarter-on-quarter revenue growth [5][6]. - The company is expected to see a gradual recovery in net profit over the next three years, with projections of 302 million yuan, 365 million yuan, and 436 million yuan for 2025, 2026, and 2027 respectively [4][10]. Financial Overview - As of the latest report, the company has a total market capitalization of 12.2 billion yuan and a circulating market capitalization of 9 billion yuan. The latest closing price is 30.73 yuan, with a price-to-earnings ratio of 45.19 [3][4]. - The company reported a total revenue of 599 million yuan in the first half of 2025, a decrease of 18% year-on-year, with a net profit of 93 million yuan, down 51% year-on-year [4][5]. - The gross profit margin for the first half of 2025 was 27.92%, a decrease of 10.42 percentage points compared to the previous year, with various product lines experiencing different levels of margin changes [6].

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected relative return of over 20% within the next six months [7]. Core Views - The company's performance in H1 2025 shows a significant improvement in financial metrics on a quarter-over-quarter basis, despite a year-over-year decline in revenue and net profit [1]. - The substantial increase in the company's order backlog, which reached 1.75 billion yuan, suggests strong support for future revenue growth [2]. - The profitability of the company has been under pressure due to significant investments in subsidiaries, but there are expectations for gradual recovery as operations mature and orders are released [3]. - The company's vertical integration in the aerospace materials sector is expected to enhance its growth trajectory, particularly in the small component business [4]. - Adjustments to profit forecasts have been made, with expected net profits of 304 million yuan and 397 million yuan for 2025 and 2026, respectively, reflecting changes in the supply chain dynamics [5]. Financial Summary - In H1 2025, the company reported revenue of 599 million yuan, a year-over-year decrease of 18.16%, but a quarter-over-quarter increase of 9.49% in Q2 [1]. - The gross profit margin for H1 2025 was 27.92%, down 10.42 percentage points year-over-year, while the net profit margin was 15.53%, up 10.63 percentage points from the previous year [3]. - The company’s revenue projections for 2025 to 2027 indicate a recovery trend, with expected revenues of 1.47 billion yuan in 2025, 1.83 billion yuan in 2026, and 2.26 billion yuan in 2027 [6]. - The earnings per share (EPS) is projected to be 0.77 yuan in 2025, increasing to 1.26 yuan by 2027 [6].

证券日报网讯 图南股份（300855）8月21日在互动平台回答投资者提问时表示，截至2025年8月20日， 公司在册股东人数约1.34万户。 ...

图南股份8月20日大宗交易平台共发生3笔成交，合计成交量449.47万股，成交金额1.25亿元。成交价格 均为27.81元，相对今日收盘价折价8.85%。从参与大宗交易营业部来看，机构专用席位共出现在3笔成 交的买方或卖方营业部中，合计成交金额为1.25亿元，净买入1.25亿元。 两融数据显示，该股最新融资余额为2.62亿元，近5日增加1.02亿元，增幅为64.26%。 机构评级来看，近5日共有3家机构给予该股评级，预计目标价最高的是国投证券，8月19日国投证券发 布的研报预计公司目标价为37.80元。（数据宝） 8月20日图南股份大宗交易一览 注：本文系新闻报道，不构成投资建议，股市有风险，投资需谨慎。 （文章来源：证券时报网） 证券时报·数据宝统计显示，图南股份今日收盘价为30.51元，下跌0.49%，日换手率为2.13%，成交额为 1.89亿元，全天主力资金净流出315.93万元，近5日该股累计上涨7.81%，近5日资金合计净流入1503.54 万元。 | 成交量（万 | 成交金额（万 | 成交价格 | 相对当日收盘折溢价 | 买方营 | 卖方营业部 | | --- | --- | --- | --- ...

Core Viewpoint - Tunan Co., Ltd. (300855) is a leading domestic high-temperature alloy material company, currently focusing on applications in the aerospace sector, particularly in aircraft engines and gas turbines [1] Group 1: Company Focus - Tunan's high-temperature alloy products are primarily used in aerospace engines, gas turbines, and the petrochemical industry, with a significant emphasis on the aerospace sector [1] - The company is actively monitoring industry development opportunities and potential applications of its technology and products in emerging fields such as robotics and drones [1] Group 2: Industry Trends - There is a noticeable increase in demand for high-temperature alloys in various applications, including industrial, firefighting, and military robots, as well as cargo and weapon-carrying drones, which are seen as future growth trends [1]

图南股份最新一期业绩显示，截至2025中报，公司营业总收入5.99亿元、同比减少18.16%，归属净利润 9296.70万元，同比减少51.41%，扣非净利润9038.73万元，同比减少52.97%，流动比率4.915、速动比率 2.993、资产负债率23.00%。 金融界消息 截至2025年8月19日收盘，图南股份（300855）报收于30.66元，下跌2.01%，换手率 3.58%，成交量10.49万手，成交金额3.22亿元。 资金流向方面，今日主力资金净流入1216.60万元，占比成交额3.77%。其中，超大单净流出257.90万 元、占成交额0.8%，大单净流入1474.50万元、占成交额4.57%，中单净流出流出1405.71万元、占成交 额4.36%，小单净流入189.10万元、占成交额0.59%。 天眼查商业履历信息显示，江苏图南合金股份有限公司，成立于1991年，位于镇江市，是一家以从事有 色金属冶炼和压延加工业为主的企业。企业注册资本39553.15万人民币，实缴资本12920万人民币。公 司法定代表人为万柏方。 通过天眼查大数据分析，江苏图南合金股份有限公司共对外投资了6家企业，参与招投标 ...

Investment Rating - The investment rating for the company is "Buy-A" with a 12-month target price of 37.8 CNY [6]. Core Views - The company is expected to open a second growth curve in consumables, with a strong order backlog of over 1.75 billion CNY, indicating potential revenue growth in the coming years [4][10]. - The company has experienced a decline in revenue and net profit in the first half of 2025, with revenue at 599 million CNY, down 18.16% year-on-year, and net profit at 93 million CNY, down 51.41% year-on-year [1][2]. Financial Performance - In the first half of 2025, the company's revenue from high-temperature alloys was 169 million CNY, down 39.62% year-on-year, while the revenue from deformed high-temperature alloys was 277 million CNY, down 0.24% year-on-year [2]. - The overall gross margin for the company was 27.92%, a decrease of 10.42 percentage points year-on-year, with a net profit margin of 15.53%, down 10.63 percentage points year-on-year [2]. Order Backlog and Future Prospects - The company has signed contracts worth 1.75 billion CNY that are yet to be fulfilled, with expected revenue recognition of 555 million CNY in 2025, 530 million CNY in 2026, and 665 million CNY in 2027 [4]. - The company is expanding its product offerings from raw materials to small and medium-sized components, with projects in the aerospace sector already yielding production capabilities [4][9]. Cost Management and Financial Health - The company maintained stable operating expenses, with R&D, sales, and management expenses at 26 million CNY, 6 million CNY, and 23 million CNY respectively, showing a mixed trend in year-on-year changes [3]. - Accounts receivable increased by 106.67% compared to the beginning of the period, indicating ongoing business activities, while inventory rose by 3.97% [3]. Profit Forecast - The company is projected to achieve net profits of 285 million CNY, 428 million CNY, and 589 million CNY for the years 2025, 2026, and 2027, with growth rates of 6.9%, 49.8%, and 37.6% respectively [10][11].

Investment Rating - The investment rating for the company is "Buy" and is maintained [6] Core Views - The company reported a significant increase in orders on hand, indicating a potential turning point in performance for the third quarter [4][5] - For the first half of 2025, the company achieved revenue of 599 million, a year-on-year decrease of 18.16%, and a net profit attributable to the parent company of 93 million, down 51.41% year-on-year [2][4] - The company has signed contracts with a corresponding revenue amount of 1.75 billion as of the end of the first half of 2025, representing a 478% increase compared to the beginning of the period [4] Financial Performance Summary - In Q2 2025, the company recorded revenue of 313 million, a year-on-year decrease of 18.01%, but a quarter-on-quarter increase of 9.49% [2][4] - The gross profit margin for the casting high-temperature alloy business was 39.4%, down 11.4 percentage points year-on-year, while the gross profit margin for the deformation high-temperature alloy business was 25.6%, down 4.9 percentage points year-on-year [4] - The company forecasts net profits attributable to the parent company for 2025-2027 to be 300 million, 450 million, and 650 million, respectively, with year-on-year growth rates of 14%, 47%, and 46% [4]