Investment Rating - The report maintains a "Strong Buy" investment rating for the company [3]. Core Insights - The company has shown impressive growth in lithium battery and automotive sectors, with a significant recovery in gross margin [6]. - For the first half of 2025, the company reported revenue of 1.461 billion yuan, a year-on-year increase of 18.68%, and a net profit attributable to shareholders of 282 million yuan, up 26.49% year-on-year [1]. - The second quarter of 2025 saw revenue of 841 million yuan, a year-on-year increase of 21.79% and a quarter-on-quarter increase of 35.65% [1]. - The company is expected to maintain rapid growth, with projected revenues of 2.898 billion yuan in 2025, 3.502 billion yuan in 2026, and 3.853 billion yuan in 2027, reflecting year-on-year growth rates of 16%, 21%, and 10% respectively [2][6]. Financial Performance - The company's gross margin for the first half of 2025 was 39.1%, an increase of 3.46 percentage points year-on-year, while the net margin was 19.28%, up 1.19 percentage points year-on-year [6]. - The company has successfully optimized its product structure to enhance gross margins, particularly through the development of high-margin products [6]. - The overseas revenue for the first half of 2025 reached 5.182 million yuan, a year-on-year increase of 126%, with the number of overseas customers growing by 71.74% [6]. Financial Data and Valuation - The company’s total market capitalization is 17.4 billion yuan, with a circulating market value of 12.7 billion yuan [3]. - The price-to-earnings (PE) ratio is projected to be 33.5 for 2025, decreasing to 23.7 by 2027 [2][13]. - The return on equity (ROE) is reported at 11.0% [3]. Future Outlook - The report anticipates continued demand from downstream lithium battery clients and growth in the automotive sector due to new model launches and technological advancements [6]. - The company is expected to benefit from increasing demand in the 3C sector, particularly from VR/AR devices and new Apple products [6].

不得行使表决权的股份 张红 | 证券代码：301029 证券简称：怡合达 | | | 公告编号：2025-051 | | | --- | --- | --- | --- | --- | | 东莞怡合达自动化股份有限公司 | | | | | | 关于持股 5%以上股东权益变动触及 1%整数倍的公告 | | | | | | 持股 5%以上的股东张红先生保证向本公司提供的信息内容真实、准 | | | | | | 确、完整，没有虚假记载、误导性陈述或重大遗漏。 | | | | | | 公司于近日收到持股 5%以上股东张红先生出具的《关于股份变 | | | | | | 动的告知函》,获悉信息披露义务人于 2025 年 7 月 12 日至 2025 年 | | | 8 | | | 月 20 日期间，通过集中竞价以及大宗交易方式减持公司股份，持股 | | | | | | 比例累计减少 0.88%，截至权益变动日信息披露义务人持股比例为 | | | | | | 信息披露义务人 张红 | | | | | | 住所 兴城市沙后所镇**** | | | | | | 权益变动时间 2025 年 7 月 12 年 8 月 20 | 日 ...

证券代码：301029 证券简称：怡合达 公告编号：2025-051 信息披露义务人： 张红 2025 年 8 月 21 日 | 1.基本情况 | | | | | | | --- | --- | --- | --- | --- | --- | | 信息披露义务人 | 张红 | | | | | | 住所 | | 兴城市沙后所镇**** | | | | | 权益变动时间 | 2025 | 年 7 月 12 日至 2025 年 8 | 月 20 | 日 | | | 股票简称 | 怡合达 | 股票代码 | | 301029 | | | 变动类型 （可多选） | 增加□ 减少☑ | 一致行动人 | | 有□ 无☑ | | | 是否为第一大股东或实际控制人 | | | 是□ | 否☑ | | | 2.本次权益变动情况 | | | | | | | 股份种类（A 股、B | 股等） | 增持/减持股数（股） | | 增持/减持比例 | | | A 股 | | -5,555,733 | | -0.88% | | | 合 计 | | -5,555,733 | | -0.88% | | | 本次权益变动方式（可多 | | 通过证券 ...

8月21日，怡合达大宗交易成交24.87万股，成交额609.32万元，占当日总成交额的1.19%，成交价24.5 元，较市场收盘价26.67元折价8.14%。 | 交易日期 | 证券代码 | 证券简称 | 成交价格 | 成交量 | 成交全额 (万元) | 买方营业部 | 卖方营业部 | | --- | --- | --- | --- | --- | --- | --- | --- | | | | | (元) | (万股/万份) | | | | | 2025-08-21 | 301029 | 怡合达 | 24.50 | 8.50 | 208.25 | 机构专用 | 中信建投证券股份 | | | | | | | | | 有限公司深圳深南 | | | | | | | | | 中路证券营业部 | | 2025-08-21 | 301029 | 怡合达 | 24.50 | 8.20 | 200.90 | 国联民生证券股份 | 中信建投证券股份 | | | | | | | | 有限公司深圳益田 | 有限公司深圳深南 | | | | | | | | 路证券营业部 | 中路证券营业部 | | 2025-08-21 | 301 ...

Core Viewpoint - The company reported strong financial performance for the first half of 2025, with significant revenue and profit growth, driven by improvements in profit margins and strong performance in the new energy and automotive sectors [1][2]. Financial Performance - In H1 2025, the company achieved revenue of 1.461 billion yuan, a year-on-year increase of 18.70%, and a net profit attributable to shareholders of 282 million yuan, up 26.49% year-on-year [1]. - For Q2 2025, revenue reached 841 million yuan, reflecting a year-on-year growth of 21.79%, while net profit was 160 million yuan, also up 26.50% year-on-year [1]. Profitability Metrics - The company reported a gross margin of 39.83% in Q2, an increase of 3.72 percentage points year-on-year, and a net margin of 19.02%, up 0.7 percentage points year-on-year [2]. - Significant improvements in gross margins were noted in the 3C mobile phone and new energy sectors, indicating the effectiveness of the company's long-tail customer strategy and value enhancement [2]. Revenue Drivers - The new energy sector saw a revenue increase of 53.17% year-on-year, while the automotive sector grew by 53.25%, serving as the main drivers of revenue growth [2]. - Conversely, the 3C mobile phone segment experienced a revenue decline of 4.12% due to reduced demand for devices like those from Apple, while the semiconductor sector grew by 28% [2]. Business Strategy and Operations - The company continues to enhance its one-stop procurement service, with a significant increase in product variety, covering 196 major categories and over 2.3 million SKUs as of H1 2025 [3]. - The company has made substantial progress in automating its operations, reducing quote response times from hours to seconds, and improving production efficiency with flexible production lines [3]. Global Expansion - The company is steadily advancing its global business strategy, with operations now covering over 30 countries and regions, and overseas revenue reaching 5.1818 million yuan in H1 2025, a year-on-year increase of 126% [4]. - The number of overseas customers grew by 72%, indicating successful international market penetration [4]. Future Outlook - The company maintains a "buy" rating based on its traditional business strengths, ongoing product optimization, and global expansion efforts, with projected net profits of 530 million, 640 million, and 770 million yuan for 2025-2027 [4].

Investment Rating - The investment rating for the company is "Buy" and is maintained [10]. Core Insights - The company reported a revenue of 1.461 billion yuan for the first half of 2025, representing a year-on-year increase of 18.70%, and a net profit attributable to shareholders of 282 million yuan, up 26.49% year-on-year. For Q2 2025, the revenue was 841 million yuan, with a year-on-year growth of 21.79%, and a net profit of 160 million yuan, also up 26.50% year-on-year [2][7]. - The main drivers for revenue growth in the first half of the year were the new energy and automotive sectors, which saw increases of 53.17% and 53.25% respectively. The 3C mobile phone segment experienced a decline of 4.12%, while the semiconductor sector grew by 28% [12]. - The company has strengthened its one-stop procurement service and made significant progress in the automation of its FB business, enhancing supply chain management capabilities and increasing product variety [12]. - The company is steadily advancing its global business strategy, with overseas revenue reaching 5.1818 million yuan in the first half of 2025, a year-on-year increase of 126% [12]. Financial Performance - The gross profit margin for Q2 was 39.83%, an increase of 3.72 percentage points year-on-year, while the net profit margin was 19.02%, up 0.7 percentage points year-on-year [12]. - The company expects net profits attributable to shareholders to reach 530 million yuan, 640 million yuan, and 772 million yuan for 2025, 2026, and 2027 respectively, corresponding to P/E ratios of 33, 27, and 22 times [12].

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。 东莞怡合达自动化股份有限公司（以下简称"公司"）于 2025 年 5 月 21 日召开的 2024 年年度股东大会已同意授权董事会制定 2025 年中期分红方案，公司 2025 年半年度权益分派方案已获 2025 年 8 月 派事宜公告如下： 一、股东大会审议通过利润分配方案情况 审议通过了《关于 2025 年半年度利润分配方案的议案》，具体方案 为：公司以截至目前总股本 634,202,712 股为基数，向全体股东每 元（含税）。本年度不以资本公积金转增股本，不送红股。 如在实施权益分派的股权登记日前公司总股本发生变动的，公司 按照现金分红比例不变，对利润分配总额进行调整。 额未发生变化。 分配方案一致。 时间未超过两个月。 二、权益分派方案 证券代码：301029 证券简称：怡合达 公告编号：2025-050 东莞怡合达自动化股份有限公司 四、权益分派对象 本次分派对象为：截止 2025 年 8 月 25 日下午深圳证券交易所收 市后，在中国证券登记结算有限责任公司深圳分公司（以下简称"中 国结算深圳分公司" ...

证券日报网讯 8月19日晚间，怡合达发布公告称，公司2025年半年度权益分派方案为：以总股本634， 202，712股为基数，向全体股东每10股派发现金股利1.5元（含税）。股权登记日为2025年8月25日，除 权除息日为2025年8月26日。 （文章来源：证券日报） ...

证券代码：301029 证券简称：怡合达 公告编号：2025-050 东莞怡合达自动化股份有限公司 2025 年半年度权益分派实施公告 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。 东莞怡合达自动化股份有限公司（以下简称"公司"）于 2025 年5月21日召开的2024年年度股东大会已同意授权董事会制定2025 年中期分红方案，公司 2025 年半年度权益分派方案已获 2025 年 8 月 13 日召开的第三届董事会第十八次会议审议通过，现将本次权益分 派事宜公告如下： 一、股东大会审议通过利润分配方案情况 1、公司于 2025 年 8 月 13 日召开第三届董事会第十八次会议， 审议通过了《关于 2025 年半年度利润分配方案的议案》，具体方案 为：公司以截至目前总股本 634,202,712 股为基数，向全体股东每 10 股派发现金股利 1.5 元（含税），合计派发现金股利 95,130,406.80 元（含税）。本年度不以资本公积金转增股本，不送红股。 如在实施权益分派的股权登记日前公司总股本发生变动的，公司 按照现金分红比例不变，对利润分配总额进行调 ...

| 交易日期 | 证券代码 | 证券简称 | 成交价格 | 成交量 | 成交金额 | 买方营业部 | 卖方营业部 | | --- | --- | --- | --- | --- | --- | --- | --- | | | | | (元) | (万股/万份) | (万元) | | | | 2025-08-18 | 301029 | 怡合达 | 25.00 | 8.00 | 200.00 | 国联民生证券股份 | 中信建投证券股份 | | | | | | | | 有限公司深圳益田 | 有限公司深圳深南 | | | | | | | | 路证券营业部 | 中路证券营业部 | 8月18日，怡合达大宗交易成交8万股，成交额200万元，占当日总成交额的0.25%，成交价25元，较市场收盘价27.06元折价 7.61%。 ...