格隆汇9月23日丨北路智控(301195.SZ)在互动平台表示，截至目前，公司和摩尔线程暂无合作。 ...

证券日报网讯北路智控（301195）9月8日在互动平台回答投资者提问时表示，截至2025年8月底，公司 股东人数为10222户。目前公司经营正常，不存在应披露而未披露的重大风险情形。 ...

Group 1 - The company is actively expanding its smart mining business, offering products that include smart communication, monitoring, centralized control, and equipment support systems [2] - The company's products cover various types of mines, including coal, gold, phosphate, copper, iron, lead-zinc, and gypsum mines [2] - The smart driving products mainly consist of intelligent mining vehicles, smart driving systems, and cloud control platforms, targeting underground coal mines and various non-coal underground mines [2] Group 2 - The underground unmanned driving scenarios have high technical and qualification requirements, resulting in relatively limited competition [2] - For operational and financial data, the company advises referring to its official announcements [2]

华泰联合证券有限责任公司 关于南京北路智控科技股份有限公司 2025 年半年度跟踪报告 | 保荐人名称：华泰联合证券有限责任公司 | 被保荐公司简称：北路智控 | | --- | --- | | 保荐代表人姓名：陈晓锋 | 联系电话：025-83387757 | | 保荐代表人姓名：钟超 | 联系电话：025-83387757 | 一、保荐工作概述 | 项目 | 工作内容 | | --- | --- | | 1.公司信息披露审阅情况 | | | （1）是否及时审阅公司信息披露文件 | 是 | | （2）未及时审阅公司信息披露文件的次数 | 次 0 | | 2．督导公司建立健全并有效执行规章制度的 | | | 情况 | | | （1）是否督导公司建立健全规章制度（包括 | | | 但不限于防止关联方占用公司资源的制度、 | 是 | | 募集资金管理制度、内控制度、内部审计制 | | | 度、关联交易制度） | | | （2）公司是否有效执行相关规章制度 | 是 | | 3.募集资金监督情况 | | | （1）查询公司募集资金专户次数 | 每月 1 次 | | （2）公司募集资金项目进展是否与信息披露 | 是 | ...

8月29日，北路智控跌0.77%，成交额6793.99万元。两融数据显示，当日北路智控获融资买入额766.64 万元，融资偿还1115.39万元，融资净买入-348.75万元。截至8月29日，北路智控融资融券余额合计 8697.01万元。 截至8月10日，北路智控股东户数1.19万，较上期增加15.19%；人均流通股7401股，较上期增加 53.38%。2025年1月-6月，北路智控实现营业收入4.65亿元，同比减少6.61%；归母净利润7013.28万元， 同比减少15.65%。 分红方面，北路智控A股上市后累计派现2.53亿元。 机构持仓方面，截止2025年6月30日，北路智控十大流通股东中，易方达新丝路混合（001373）位居第 九大流通股东，持股55.84万股，为新进股东。富国新活力灵活配置混合A（004604）退出十大流通股东 之列。 责任编辑：小浪快报 融资方面，北路智控当日融资买入766.64万元。当前融资余额8697.01万元，占流通市值的1.82%，融资 余额低于近一年50%分位水平，处于较低位。 融券方面，北路智控8月29日融券偿还0.00股，融券卖出0.00股，按当日收盘价计算，卖出金额 ...

Core Viewpoint - The company's operating revenue and net profit have declined year-on-year, primarily due to the cyclical nature of coal prices [1] Group 1: Financial Performance - The company's operating revenue and net profit are significantly affected by the cyclical fluctuations in coal prices, leading to a year-on-year decline [1] Group 2: Innovation and Technology - The company emphasizes research and development innovation, focusing on maintaining the competitiveness of its products through new industrial internet technologies such as 5G, AI, and software [1] - Recent or completed technologies include intelligent driving, a 5G-based dispatch system, UWB high-precision positioning, and an AI video analysis-based safety monitoring system for mining [1]

Macro Insights - The economic growth rate in August is expected to be supported by exports and consumption policies, despite a significant slowdown in the real estate sector, with a target of 5% annual growth remaining achievable [1][15][12] - The industrial added value in July grew by 5.7% year-on-year, with the manufacturing sector showing resilience, particularly in high-tech products and equipment manufacturing [12][13] - Fixed asset investment growth slowed to 1.6% year-on-year in the first seven months, primarily due to a decline in real estate investment, which fell by 12% [13][14] Strategy Insights - Current channels for resident capital entering the market include increasing financing balances and active personal investor accounts, leading to a positive feedback loop in the market [2] - The "anti-involution" market trend can be analyzed through policy expectations and real-world transmission, indicating a shift from theme-driven to profit-driven market dynamics [2] - The technology and small-cap sectors are expected to continue outperforming as more external funds enter the market [2] Industry Reports - The consumer electronics sector is anticipated to see significant opportunities with the upcoming release of new products, particularly in AI-related applications [8] - The coal mining industry is experiencing a continuous improvement in fundamentals, with the price of thermal coal expected to rise [8] - The healthcare sector, particularly innovative drugs, is projected to maintain a positive outlook due to improved profitability [8]

Financial Performance - The company reported a total revenue of 465 million yuan for the first half of 2025, a decrease of 6.61% year-on-year [1] - The net profit attributable to shareholders was 70.13 million yuan, down 15.65% compared to the previous year [1] - In Q2 2025, the revenue was 216 million yuan, reflecting a decline of 20.72% year-on-year, while the net profit for the same quarter was 28.19 million yuan, down 39.46% [1] - The gross margin improved to 44.4%, an increase of 7.33% year-on-year, while the net margin decreased to 15.1%, down 9.68% [1] Accounts Receivable and Cash Flow - Accounts receivable increased significantly, with a year-on-year growth of 31.7%, reaching 467 million yuan [1] - The net cash flow from operating activities saw a drastic decline of 121.15%, attributed to reduced collections [3] - The net increase in cash and cash equivalents rose by 54.81%, due to decreased expenditures on cash management products [3] Investment and Return Metrics - The company's return on invested capital (ROIC) was reported at 8.02%, indicating average capital returns [3] - Historical data shows a median ROIC of 30.85% since the company went public, suggesting strong investment returns historically [3] Market Expectations - Analysts project the company's performance for 2025 to reach 235 million yuan, with an average earnings per share estimate of 1.78 yuan [4] Fund Holdings - The largest fund holding the company’s shares is the Manulife Reverse Strategy Mixed Fund, which has recently entered the top ten holdings with 38,300 shares [5] - The fund's current scale is 102 million yuan, with a recent net value of 2.217, reflecting a 0.4% decline from the previous trading day but a 29.87% increase over the past year [5]

Financial Performance - The company reported total revenue of 465 million yuan for the first half of 2025, a decrease of 6.61% year-on-year [1] - The net profit attributable to shareholders was 70.13 million yuan, down 15.65% compared to the previous year [1] - In Q2 2025, total revenue was 216 million yuan, reflecting a decline of 20.72% year-on-year, while net profit for the quarter was 28.19 million yuan, a decrease of 39.46% [1] - The gross margin improved to 44.4%, an increase of 7.33% year-on-year, while the net margin decreased to 15.1%, down 9.68% [1] Accounts Receivable and Cash Flow - Accounts receivable increased significantly, with a year-on-year growth of 31.7%, reaching 467 million yuan [1] - The net cash flow from operating activities saw a drastic decline of 121.15%, attributed to reduced collections [3] - The company reported a negative operating cash flow per share of -0.1 yuan, a decrease of 121.06% year-on-year [1] Financial Ratios and Metrics - The total of selling, administrative, and financial expenses amounted to 68.24 million yuan, accounting for 14.69% of revenue, which is an increase of 6.29% year-on-year [1] - The return on invested capital (ROIC) for the previous year was 8.02%, indicating average capital returns [3] - The company's net profit margin for the previous year was 17.82%, suggesting high added value for its products or services [3] Fund Holdings - The largest fund holding in the company is the Manulife Reverse Strategy Mixed Fund, which holds 38,300 shares and has recently entered the top ten holdings [4] - The fund has a current scale of 102 million yuan and has seen a 29.87% increase over the past year [4]

Group 1 - The stock price of Beilu Zhikong (301195.SZ) closed at 37.55 yuan, down 4.65%, currently below the issue price [1] - Beilu Zhikong was listed on the Shenzhen Stock Exchange's ChiNext on August 1, 2022, with an issuance of 21,920,290 shares, accounting for 25% of the post-issue total share capital, at an issue price of 71.17 yuan per share [1] - The total funds raised by Beilu Zhikong amounted to 156,006.70 million yuan, with a net amount of 143,080.79 million yuan after deducting issuance costs of 12,925.92 million yuan [1] Group 2 - The net amount raised was 82,244.07 million yuan more than the original plan of 60,836.72 million yuan, which was intended for the construction of intelligent mining equipment production lines, the establishment of an intelligent mining R&D center, and to supplement working capital [1] - The total issuance costs (excluding tax) were 12,925.92 million yuan, with Huatai United Securities receiving underwriting and sponsorship fees of 10,920.47 million yuan [1] - The 2022 annual profit distribution plan was approved at the shareholders' meeting on May 8, 2023, with a cash dividend of 9 yuan per 10 shares, totaling 78,913,044 yuan, and a capital reserve conversion of 5 shares for every 10 shares [2]