Core Viewpoint - Sealing Technology (301020) has made progress in hydrogen energy technology, specifically in the supply of high-speed floating bearings for hydrogen fuel cell pumps, although current revenue contribution remains low [1]. Stock Performance - Over the past week (February 6 to February 11, 2026), Sealing Technology's stock price fluctuated between 23.26 yuan and 23.53 yuan, with a total change of 0.90% and a volatility of 3.09% [2]. - On February 11, 2026, the net outflow of main funds was 2.27 million yuan, marking three consecutive days of reduction in holdings; the stock price is approaching a support level of 23.50 yuan, with a resistance level at the upper Bollinger Band of 24.01 yuan [2]. - The automotive parts sector, to which the company belongs, experienced a decline of 0.51%, underperforming the broader market [2]. Institutional Insights - As of February 9, 2026, Securities Star's valuation analysis indicates that Sealing Technology's relative valuation range is between 20.37 and 22.51 yuan, with an accuracy rating of C; the fundamental analysis suggests that the stock price is relatively high and the competitive moat within the industry is weak [3]. - Institutional sentiment is neutral, with low frequency of research and no recent changes in ratings [3].

Group 1 - The core viewpoint of the news is that Sealing Technology has shown significant trading activity and financial performance, with notable changes in financing and shareholder structure [1][2]. Group 2 - On January 29, Sealing Technology's stock price decreased by 1.47%, with a trading volume of 35.90 million yuan. The financing buy-in amount was 5.74 million yuan, while the net financing buy-in reached 2.86 million yuan [1]. - As of January 29, the total financing and securities lending balance for Sealing Technology was 92.87 million yuan, with the financing balance accounting for 2.78% of the circulating market value, indicating a high level compared to the past year [1]. - The company repaid 400 shares of securities lending and sold 300 shares on January 29, with a selling amount of 6,825 yuan. The remaining securities lending volume was 11,300 shares, with a balance of 257,100 yuan, also indicating a high level compared to the past year [1]. Group 3 - As of September 30, the number of shareholders for Sealing Technology was 10,700, a decrease of 14.83% from the previous period. The average circulating shares per person increased by 17.41% to 13,709 shares [2]. - For the period from January to September 2025, Sealing Technology achieved an operating income of 425 million yuan, representing a year-on-year growth of 8.12%. The net profit attributable to the parent company was 73.47 million yuan, with a year-on-year increase of 10.95% [2]. Group 4 - Sealing Technology has distributed a total of 163 million yuan in dividends since its A-share listing, with 123 million yuan distributed over the past three years [3].

Core Viewpoint - Jiangsu Touping Sealing Technology Co., Ltd. has been established with a registered capital of 10 million RMB, fully owned by Jiangsu Touping Engineering Technology Co., Ltd. [1] Company Information - The legal representative of Jiangsu Touping Sealing Technology Co., Ltd. is Zhang Jianhua [1] - The company is classified as a limited liability company (non-natural person investment or holding) [1] - The business scope includes manufacturing and sales of sealing components, high-performance sealing materials, technology promotion and application services, technical services, and new material technology research and development [1] Shareholding Structure - Jiangsu Touping Engineering Technology Co., Ltd. holds 100% of the shares in Jiangsu Touping Sealing Technology Co., Ltd. [1] Operational Details - The company is located in the industrial park of Jiawang District, Xuzhou City, Jiangsu Province [1] - The business registration period is from January 29, 2026, with no fixed term [1] - The registration authority is the Xuzhou Jiawang District Administrative Service Management Office [1]

Group 1 - The core viewpoint of the article is that Sealing Technology (301020.SZ) currently does not have any products directly applied to gas turbines [1] Group 2 - The company has communicated this information through its investor interaction platform [1]

Core Viewpoint - The company has been actively expanding its international market presence in recent years, with significant growth expected in direct export revenues due to partnerships with renowned international manufacturers [2] Group 1: International Market Expansion - The company has been focusing on indirect exports, particularly in sealing gasket products, which follow the export trends of downstream engine and vehicle manufacturers [2] - Direct exports have seen increased efforts, with gasket products being supplied to major international manufacturers such as Cummins (USA) and Doosan (South Korea) [2] - The company is also developing board products for overseas clients in Russia, India, South Korea, and Italy, with a significant expected increase in direct export revenue this year [2] Group 2: Competitive Advantage and Recognition - The company's continuous improvement in technology and product competitiveness has led to increased recognition in the market and industry [2] - The company's research and development capabilities and product consistency have gained acknowledgment from numerous international manufacturers [2] - The implementation of the company's internationalization strategy is anticipated to provide strong support for its future performance in the international market [2]

Group 1 - The company has been actively developing its sealing gasket business in line with the growth of main engine manufacturers, leveraging industry-leading technology and product consistency to gain market share [2] - The metal adhesive board business faces competition from imported products, but the company's product performance has approached international advanced levels, offering competitive pricing and outstanding cost-performance ratio [2] - The company plans to accelerate its layout in the fields of sealing for new energy vehicles and precision processing, while also expanding into sealing areas for transmissions, pumps, heat exchangers, and refrigeration [2]

Group 1 - The company is focusing on the electric vehicle market this year, collaborating with several leading new energy vehicle manufacturers for mass production and supply of new energy extended-range and hybrid models [2] - The sealing business for new energy hybrid and extended-range vehicles is experiencing rapid growth, although the revenue contribution remains low due to the low unit value and small base [2]

Group 1 - The core viewpoint of the article highlights the significant market potential for metal-coated boards in the automotive sector, particularly in sealing and damping applications for brake systems [2] - The domestic high-end market for these products is largely dominated by imports, indicating an opportunity for local manufacturers to capture market share [2] - The company's metal-coated boards are made from stainless steel and coated with materials like nitrile rubber and fluororubber, making them suitable for various high-performance sealing applications in the automotive industry [2] Group 2 - The products can be used to manufacture high-end engine gaskets, transmission gaskets, compressor gaskets, and general gasoline engine gaskets, showcasing their versatility [2] - The target downstream industries include not only commercial vehicles but the entire automotive sector, addressing the needs of all disc brake systems and new energy vehicles [2] - The annual demand for new vehicles is in the thousands of millions, coupled with a maintenance market for several hundred million vehicles, indicating that the future market potential far exceeds that of diesel engine gaskets [2]

Group 1 - The company reports that its orders are normal and continue the positive trend from the previous year [2] - The company places significant emphasis on market development, actively mobilizing technical, administrative, and production personnel to assist business departments [2] - In the new year, the company aims to secure more orders through continuous technological innovation and strict quality control [2] Group 2 - The company is working on customer reserves for new production lines in the metal coated board sector [2] - The company intends to maintain its existing market share while continuously developing new clients [2]

Group 1 - The core viewpoint of the article is that Sealing Technology (301020) is focusing on capacity expansion and technological upgrades for its sealing gasket production, while adapting to market fluctuations in the commercial vehicle industry [1] - The company has prioritized tapping into existing capacity potential and actively adjusted the implementation pace of its fundraising projects in response to the complex market environment [1] - The company aims to enhance product competitiveness through strengthened technological transformation, avoiding the risks of overcapacity that may arise from blind expansion [1] Group 2 - The overall performance of the company's sealing gasket business is expected to be good in 2025, remaining unaffected by the delays in fundraising project implementation [1]