2026年2月6日，玉马科技在投资者关系活动中表示，梦幻帘产品在国内销售出现阶段性回落，但国外市 场呈现上涨趋势，公司正积极加大该产品出口力度，重点布局海外市场推广以开拓新增长空间。同时， 为防御全球贸易政策风险，公司计划在2026年开始实施海外建厂工作，已完成新加坡子公司设立，越南 项目因关税政策变化暂未推进。汇率波动方面，2025年下半年美元贬值导致汇兑损失，公司通过保留美 元存款等策略对冲风险。 机构观点 经济观察网 玉马科技（300993）2025年三季报显示，前三季度公司主营收入5.53亿元，同比微增 0.49%；归母净利润1.11亿元，同比下降13.71%；扣非净利润1.06亿元，同比下降14.88%。其中第三季 度单季收入1.89亿元，同比下降0.28%，单季归母净利润3641.94万元，同比下降12.84%。公司毛利率为 39.79%，负债率5.96%，财务费用为-613.73万元。 机构给予玉马科技综合目标价为19.00元，较最新价上涨空间29.43%。最近90天内1家机构给出买入评 级，盈利预测显示2025年净利润同比增长2.90%，2026年预测增长17.80%。 近期事件 股票近期走势 ...

美国客户需求是否有回暖迹象？ 尽管通胀环境依然存在，但我们正在逐步提升在美国市场的渗透率。目前，美 国市场收入占比相对较低，但我们凭借性价比优势，并在德克萨斯州新建子公 司，加强当地仓储和销售力量，以提升市场占有率。预计 2027 年会有明显增 长。 未来需求增长主要源于客户补库还是终端需求修复？ 玉马科技 20260205 摘要 御马科技预计 2026 年基本面保持稳定，尽管面临行业冲击，但四季度 未见明显变化。公司正逐步提升在美国市场渗透率，虽当前占比低，但 凭借性价比优势和新建德克萨斯州子公司，预计 2027 年美国市场将有 显著增长。 欧洲市场消费稳定增长，功能性遮阳材料渗透率高，更新换代需求稳定， 预计 2026 年欧洲市场将保持增长。公司功能性遮阳材料逐步替代传统 材料，进一步驱动增长。 受关税政策变动影响，海外建厂进度延缓，目前印尼工厂可能性较大， 预计 2026 年明确并披露相关信息，总投资约 4,000 万美元，分期实施。 印尼工厂将辐射欧洲客户，初期产能占总产能 10%-15%，生产成熟且 自动化程度高的产品。 公司主要原材料价格相对处于低位，毛利较高，成本压力尚不显著。公 司价格相对稳定 ...

证券日报网2月6日讯 ，玉马科技在接受调研者提问时表示，欧洲市场功能性遮阳产品已经得到消费者 的广泛认可，市场相对成熟，根据目前公司和客户沟通情况来看，欧洲市场整体需求还是持续稳定向 好，公司将继续深化欧洲市场的开拓，不断提升在欧洲市场的占有率。 （文章来源：证券日报） ...

（文章来源：证券日报） 证券日报网2月6日讯 ，玉马科技在接受调研者提问时表示，公司的主要原材料包括聚酯纤维和PVC 等，目前市场供应充足，当前的原材料价格处于历史底部区域，预计价格会保持平稳。 ...

证券日报网2月6日讯 ，玉马科技在接受调研者提问时表示，梦幻帘产品在经过前期高速增长后，目前 处于市场调整阶段，受供需关系变化及行业竞争加剧影响，国内销售出现阶段性回落，但国外市场呈现 上涨趋势。公司认为梦幻帘凭借其融合调光、装饰功能并兼具百叶帘与布艺优势，在市场上仍具有显著 竞争优势。当前公司正积极加大该产品的出口力度，重点布局海外市场推广，以开拓新的增长空间。 （文章来源：证券日报） ...

南财智讯2月6日电，玉马科技在投资者关系活动中表示，公司主要原材料包括聚酯纤维和PVC等，目前 市场供应充足，当前原材料价格处于历史底部区域，预计价格将保持平稳。 ...

Industry Overview - As of the end of 2024, there are approximately 3,000 functional shading enterprises in China, with annual sales exceeding 180 million yuan [2] - The competitive landscape consists of three tiers: - First tier: Large-scale companies with high product quality and advanced technology, targeting the mid-to-high-end market with high gross margins - Second tier: Medium-sized companies with moderate product quality and lower technology levels - Third tier: Numerous small workshop-style enterprises focusing on low-end markets through price competition [2] - The market penetration rate for functional shading products in China is currently below 5% [2][10] International Market Comparison - In developed countries, the market penetration rate for functional shading products exceeds 70%, with major companies like Hunter Douglas and Phifer dominating the market [4] - The consumer recognition of shading products is high in Europe, North America, and Asia, with a typical replacement cycle of 3-5 years [4] Company Strategy and Market Development - The company plans to establish overseas production capacity starting in 2026, with preliminary research in Southeast Asia and the establishment of a subsidiary in Singapore [5] - The U.S. market remains stable but has not shown significant growth due to inflation; the company aims to enhance its market share through improved logistics and local sales teams [6][7] - The European market shows stable demand, and the company intends to deepen its market penetration [8] Raw Material and Product Insights - Key raw materials include polyester fiber and PVC, with current prices at historical lows and expected to remain stable [9] - The company's domestic market share for functional shading products is currently low, but there is potential for growth as consumer demand increases [10] - The "Dream Curtain" product is experiencing a temporary decline in domestic sales but is seeing growth in international markets [11] Financial Considerations - The company faces exchange rate losses due to the depreciation of the U.S. dollar against the Chinese yuan; it is managing this risk through prudent financial strategies [12]

每经AI快讯，有投资者在投资者互动平台提问：公司与武汉中科共同研发的超薄光伏膜材和与柔性组 件进展到什么程度了？将来能否应用于太空光伏方面？ 玉马科技（300993.SZ）2月4日在投资者互动平台表示，公司未与武汉中科共同研发超薄光伏膜材和与 柔性组件项目。 （文章来源：每日经济新闻） ...

格隆汇2月4日丨玉马科技(300993.SZ)在投资者互动平台表示，公司未与武汉中科共同研发超薄光伏膜 材和与柔性组件项目。 ...

Core Viewpoint - Shouguang Yuxin Investment Center (Limited Partnership), a shareholder holding more than 5% of Yuma Technology, has completed a share reduction plan, selling a total of 8.6321 million shares, which represents approximately 3.27% of the company's total share capital [1] Summary by Category Share Reduction Details - The shareholder reduced 3.0210 million shares through centralized bidding at an average price of 16.33 CNY per share, accounting for 0.980427% of the total share capital [1] - Additionally, 5.6111 million shares were sold through block trading at an average price of 14.69 CNY per share, representing 1.821010% of the total share capital [1] - The total shares reduced amounted to 8.6321 million, with the remaining shares held by the shareholder now totaling 10,087,900, which is 3.273898% of the total share capital [1]