每经AI快讯，威力传动（SZ 300904，收盘价：64.78元）9月1日晚间发布公告称，截至2025年8月31 日，公司通过回购专用证券账户以集中竞价交易方式累计回购股份数量约为88万股，占公司总股本的 1.2109%，最高成交价为54.05元/股，最低成交价为46.56元/股，成交总金额为人民币约4421万元。 2025年1至6月份，威力传动的营业收入构成为：风电齿轮箱占比98.23%，其他产品占比1.77%。 截至发稿，威力传动市值为47亿元。 每经头条（nbdtoutiao）——个人消费贷贴息明日开闸！贷30万元最多可享贴息3000元，一文读懂→ （记者 张喜威） ...

二、其他说明 证券代码：300904 证券简称：威力传动 公告编号：2025-063 银川威力传动技术股份有限公司 关于回购股份进展的公告 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。 银川威力传动技术股份有限公司（以下简称"公司"）于2025年3月14日召 开第三届董事会第三十次会议审议通过了《关于回购公司股份方案的议案》， 同意公司使用自有资金和/或自筹资金通过深圳证券交易所集中竞价交易方式回 购公司已发行的人民币普通股（A股）股票（以下简称"本次回购"），回购的 股份后续将用于股权激励或员工持股计划。本次回购的资金总额不低于人民币 6,000万元且不超过人民币9,000万元（均含本数），回购价格不超过人民币 70.00元/股。具体回购股份的数量以回购结束时实际回购的股份数量为准。本 次回购股份的实施期限自董事会审议通过本次回购股份方案之日起十二个月内。 具体内容详见公司在巨潮资讯网（www.cninfo.com.cn）披露的《关于回购公司 股份方案的公告》及《回购股份报告书》。 根据《上市公司股份回购规则》《深圳证券交易所上市公司自律监管指引 第9号— ...

业务——风电增速器业务的长远发展规划，提前开展人员储备工作 所致。新增人员重点覆盖该业务板块的销售推广、生产运营及管理 支持等关键岗位，为业务后续扩张奠定人力基础。 在报告期内，公司"支付给职工以及为职工支付的现金"金额 达 8153.33 万元，较上年同期增幅达 75.45%。人员规模的扩大直接 推动了工资薪酬、社会保险及住房公积金等人力成本的增长；与此 同时，为配合业务拓展节奏，差旅费等与日常运营相关的支出亦同 步增加。上述两方面因素共同作用，对当期利润造成了一定压力。 从长期发展来看，随着风电增速器业务相关工厂逐步完成设备 调试、实现产线全面贯通并推进产能爬坡，该业务将逐步进入规模 化生产阶段，其毛利率水平预计将随之稳步提升。同时，随着新增 人员与现有业务的协同效率持续优化，前期费用投入的效益将逐步 释放，公司整体利润水平有望随之得到改善。后续，公司将继续集 中资源推进风电增速器业务的产能建设与市场拓展工作，同时动态 调整成本费用管控策略，保障业务健康发展。 5、公司电机业务进展如何？ 答：公司积极拓展威马电机业务，目前公司主力产品偏航异步 电机已经在金风科技、远景能源、东方风电、中车风电、明阳智能 等 ...

Core Viewpoint - The company is experiencing a decline in profits due to increased operational costs associated with strategic investments in the wind power gearbox business, but anticipates improvements as production scales up and operational efficiencies are realized [2][5]. Financial Performance - For the first half of 2025, the company reported a main revenue of 350 million yuan, a year-on-year increase of 113.17%, while the net profit attributable to shareholders was -43.51 million yuan, a decline of 343.76% [7]. - In Q2 2025, the company achieved a main revenue of 239 million yuan, up 76.83% year-on-year, but the net profit attributable to shareholders was -25.96 million yuan, down 201.33% [7]. - The company's gross margin stood at 11.51% [7]. Operational Developments - As of August 29, 2025, the company has invested 1.23 billion yuan in the construction of the wind power gearbox smart factory, with all civil engineering work completed and equipment installation progressing smoothly [3][4]. - The factory is currently in a critical construction phase, with production capacity expected to gradually ramp up as operational efficiencies are achieved [4]. Product Advantages - The company's gearboxes are characterized by smooth engagement, low noise, good sealing performance, high efficiency, lightweight, and low cost, attributed to advanced technology and high-quality materials [6]. - The smart factory is expected to enhance gross margins through product value addition and economies of scale, with the potential for higher pricing due to the high-tech nature of the wind power gearbox [5]. Market Engagement - The company has engaged with various institutional investors during a recent research meeting, indicating a proactive approach to maintaining transparency and communication with stakeholders [1][6].

威力传动 20250830.docx AceCamp AI 2025-08-30 请介绍一下银川威力传动股份有限公司 2025 年上半年的经营情况和财务数据。 2025 年上半年，银川威力传动股份有限公司的销售收入同比增长 113%，达 到 4.349 亿元。尽管销售收入大幅增加，但由于人工工资和管理费用的上涨， 公司净利润出现亏损。具体而言，支付给职工的现金从 2024 年的 4,000 多万 元增加到 2025 年的 8,000 多万元。此外，公司员工数量从 2023 年底的 700 多人增加到目前的 1,600 至 1,800 人，这些因素导致了管理费用和人工工资的 大幅上涨。预计到 2025 年第三季度和第四季度，随着产能逐步释放，公司的 盈利状况将有所改善。 关于公司增速器项目的进展情况如何？ 增速器项目于 2024 年 3 月启动，并在同年 9 月封顶。截至 2025 年 6 月，所 有生产设备基本到齐并进入调试阶段。目前热处理工艺段、铸件工艺段等均已 进入联产联调阶段。预计在 2025 年底前实现计划产能 1,500 台。目前，每天 能够下线六七十台增速器，一个月约 60 多台。如果按 12 个 ...

Core Viewpoint - The company, Yinchuan Weili Transmission Technology Co., Ltd., held an online meeting with 33 institutions to discuss its business growth, core products, and the reasons behind the profit decline in the first half of 2025 [1][2]. Group 1: Financial Performance - The company's profit decline in the first half of 2025 was primarily due to a 75.45% increase in employee-related cash payments, amounting to 81.53 million yuan, attributed to strategic personnel reserves for the wind power gearbox business [1]. - The company anticipates an improvement in overall profit levels as production capacity ramps up and the benefits of expense investments become evident [1]. Group 2: Production and Capacity - As of August 29, 2025, the company has invested a total of 1.23 billion yuan in the wind power gearbox smart factory, with construction progressing smoothly and key phases of the project ongoing [2]. - The initial production capacity of the smart factory is currently being optimized, with factors such as team proficiency and equipment calibration affecting full capacity release [2]. - The company expects a significant increase in gross margin post-production due to product value addition and cost reduction from scale effects [2]. Group 3: Product Advantages - The wind power gearbox product boasts advantages such as smooth engagement, low noise, and excellent sealing performance, attributed to the company's advanced technology and processes [2]. - High-quality alloy steel materials and advanced heat treatment processes are utilized in gear production, enhancing precision and durability [2].

Company Overview - The company introduced its growth history, main business, and core products, along with the key points from the 2025 semi-annual report [2]. Financial Performance - The company's profit in the first half of 2025 decreased due to a 75.45% increase in employee-related costs, amounting to 81.53 million CNY, driven by strategic personnel recruitment for the wind power gearbox business [2][3]. - Increased operational expenses, including travel costs, also contributed to the profit decline [3]. - The company anticipates improved profit levels as production capacity ramps up and operational efficiencies are optimized [3]. Wind Power Gearbox Smart Factory - As of August 29, 2025, the total investment in the wind power gearbox smart factory reached 1.23 billion CNY, with construction progressing smoothly [3]. - The factory is in a critical construction phase, with core production equipment mostly delivered [3]. - The company is focused on talent recruitment and training to support production operations [3]. Production Capacity and Efficiency - The factory is currently in the initial capacity ramp-up phase, facing challenges such as team proficiency and equipment calibration [3][4]. - The production capacity will gradually increase as operational processes are refined and staff training is completed [4]. Profitability Expectations - The smart factory is expected to significantly enhance gross margins through product value addition and economies of scale [4]. - The gearbox is a high-value component in wind turbine manufacturing, with anticipated gross margins exceeding those of conventional products [4]. Product Advantages - The gearbox features advantages such as smooth engagement, low noise, good sealing, high efficiency, and lightweight design, attributed to advanced technology and manufacturing processes [4]. - The company employs high-quality alloy steel and advanced heat treatment processes to enhance durability and performance [4]. Investor Communication - The company ensured compliance with information disclosure regulations, maintaining transparency and accuracy in communications with investors [4].

Core Viewpoint - The recent financial report of Weili Transmission (300904) shows a significant increase in revenue but a substantial decline in net profit, indicating potential operational challenges and financial strain [1][3]. Financial Performance - The total revenue for the first half of 2025 reached 350 million yuan, a year-on-year increase of 113.17% compared to 164 million yuan in 2024 [1]. - The net profit attributable to shareholders was -43.51 million yuan, representing a year-on-year decline of 343.76% from a profit of 17.84 million yuan in 2024 [1]. - The gross margin decreased to 11.51%, down 22.44% from 14.84% in the previous year [1]. - The net margin turned negative at -12.45%, a significant drop of 214.35% from 10.89% in 2024 [1]. - The company's inventory increased dramatically by 253.71%, indicating potential overstock issues [1]. Cash Flow and Debt Situation - The cash flow per share was -0.72 yuan, a decrease of 165.36% from 1.11 yuan in 2024, highlighting cash flow challenges [1]. - The company’s interest-bearing debt surged to 1.425 billion yuan, a 295.70% increase from 360 million yuan in 2024, raising concerns about financial leverage [1][4]. - The ratio of cash to current liabilities was only 18.95%, suggesting liquidity issues [4]. Business Model and Investment Returns - The company's historical median Return on Invested Capital (ROIC) stands at 15.8%, but the ROIC for the worst year, 2024, was -1.31%, indicating poor investment returns [3]. - The business model relies heavily on capital expenditures, necessitating scrutiny of the effectiveness and necessity of these investments [3]. Future Funding and Strategic Initiatives - The company plans to raise up to 6 billion yuan through a private placement to fund the construction of a wind power gearbox smart factory and to supplement working capital [5]. - The company has also proposed to apply for a credit limit of up to 3 billion yuan from financial and non-financial institutions to support its operations [5].

Core Viewpoint - The company, Weili Transmission, reported a significant increase in revenue for the first half of 2025, showcasing its enhanced competitiveness in the wind power transmission equipment market and strong order acquisition and delivery efficiency [1][2] Financial Performance - In the first half of 2025, the company achieved an operating income of 350 million yuan, a substantial increase of 113.17% compared to 164 million yuan in the same period last year [1] - Despite facing temporary pressure on net profit due to industry cycles and increased investments, the company continues to invest in core technology research and development, capacity building, and market expansion [1] Industry Position and Client Relationships - The company has established strong business relationships with well-known downstream wind turbine manufacturers, becoming a key supplier to domestic leaders such as Goldwind Technology, Dongfang Electric, and Envision Energy, as well as entering the qualified supplier lists of international firms like Siemens Gamesa and Germany's Enercon [2] - The transition to a low-carbon economy is accelerating global demand for clean energy, with wind power becoming increasingly important in the energy structure [2] Market Outlook - The Global Wind Energy Council (GWEC) projects that from 2025 to 2030, the global wind power installed capacity will increase by 981 GW, averaging 164 GW per year, which will directly drive the market demand for core components like wind power gearboxes [2] - The company plans to continue focusing on precision transmission, advancing product technology upgrades and cost optimization, while actively expanding into overseas markets to enhance global competitiveness [2]

银川威力传动技术股份有限公司 关于2025年度向特定对象发行A股股票预案 修订说明的公告 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。 证券代码：300904 证券简称：威力传动 公告编号：2025-056 1 《2025年度向特定对象发行A股股票预案（修订稿）》《2025年度向特定对象 发行A股股票方案的论证分析报告（修订稿）》《2025年度向特定对象发行A股股 票募集资金使用的可行性分析报告（修订稿）》等相关文件已于同日在巨潮资讯 网（www.cninfo.com.cn）上披露。 公司2025年度向特定对象发行A股股票预案的披露事项不代表审批机关对于 本次向特定对象发行股票相关事项的实质性判断、确认或批准，本次特定对象发 行股票相关事项尚需提交股东会审议通过、深圳证券交易所审核通过并经中国证 监会同意注册后方可实施，敬请广大投资者注意投资风险。 特此公告。 银川威力传动技术股份有限公司 董事会 2025年8月29日 1 银川威力传动技术股份有限公司（以下简称"公司"）于2025年8月27日召开 第三届董事会第三十四次会议，审议通过了《关于公司2025年度 ...