Investment Rating - The report maintains a "Recommended" rating for the company with a target price of 30.3 yuan [2][8]. Core Views - The company reported a revenue of 1.86 billion yuan for the first half of 2025, representing a year-on-year increase of 12%. However, the net profit attributable to the parent company was a loss of 105 million yuan, compared to a loss of 18 million yuan in the same period last year [2][3]. - The company is experiencing pressure on its performance, but it has successfully expanded into new businesses such as energy storage and semiconductors [2][8]. - The automotive business showed a year-on-year revenue growth of 18%, while the communication business faced slight declines [8]. Financial Summary - Total revenue is projected to grow from 3.66 billion yuan in 2024 to 5.54 billion yuan in 2027, with year-on-year growth rates of 14.7%, 16.2%, 14.5%, and 13.8% respectively [4][9]. - The net profit attributable to the parent company is expected to improve from a loss of 164 million yuan in 2024 to a profit of 170 million yuan in 2027, with growth rates of -220.6%, 5.1%, 146.2%, and 137.0% respectively [4][9]. - The company’s gross margin is projected to fluctuate, with a decrease in 2025 to 7.9% before recovering to 13.5% by 2027 [4][9]. Business Performance - In the second quarter of 2025, the company achieved a revenue of 978 million yuan, with a quarter-on-quarter increase of 11% [8]. - The automotive parts revenue reached 1.20 billion yuan, showing an 18% year-on-year increase, while the communication components revenue was 560 million yuan, slightly down by 0.1% year-on-year [8]. - The company has successfully entered the supply chain for energy storage and semiconductor clients, indicating potential for future growth [8].

Group 1 - Meilixin (301307.SZ) released its semi-annual report for 2025 on August 27, 2025, with a total of 8 institutional investors disclosing their holdings, amounting to 97.4953 million shares, which represents 46.29% of the total share capital [1] - The institutional investors include Meilixin Holdings Co., Ltd., and several investment funds managed by Wens (Shenzhen) Equity Investment Management Co., Ltd., among others, with the total institutional holding percentage decreasing by 0.78 percentage points compared to the previous quarter [1] - In the public fund sector, one public fund, namely Huaxia Industrial Upgrade Mixed A, reduced its holdings by 0.33% compared to the previous quarter, while a new public fund, Bosera Strategic New Materials Theme Mixed A, was disclosed during this period [1] Group 2 - From the foreign investment perspective, there were no new disclosures from foreign institutions compared to the previous quarter, with Hong Kong Central Clearing Limited being the only foreign institution that did not disclose its holdings this period [2]

Group 1 - The company reported a revenue of approximately 1.859 billion yuan for the first half of 2025, representing a year-on-year growth of 12.41%. However, the net profit attributable to shareholders was -105 million yuan due to decreased gross margin and increased asset impairment [1] - The company is focusing on a strategy of "quality foundation, cost reduction and efficiency improvement, and solidifying overseas expansion" amidst the slowdown in the traditional fuel vehicle market and the rise of new energy vehicles. It aims to stabilize its traditional market share while accelerating R&D and production in thermal management, energy storage, and semiconductor technologies [1] - The company has established collaborations with several leading new energy vehicle manufacturers, including Rivian and various domestic new energy vehicle startups, as well as well-known tier-one suppliers like ZF, Eaton, Aisin, and Schaeffler [1] Group 2 - In the communication sector, the company has a long-standing partnership with Ericsson and other leading domestic communication equipment manufacturers, maintaining strong collaboration and entering Nokia's supply chain this year [2] - In the energy storage sector, the company has entered the supply chain of clients like Zhenghao, while in the semiconductor field, it has partnered with leading domestic clients in Shanghai and Shenzhen [2] - The company has established production bases in Chongqing, Xiangyang, Dongguan, and Ma'anshan, with a North American base already securing contracts with new energy vehicle and energy storage clients. The global layout of production bases allows the company to respond quickly to customer needs [2]

Group 1 - Meilixin (SZ 301307) announced the convening of its 14th meeting of the second board session on August 26, 2025, to review the proposal regarding the full text and summary of the 2025 semi-annual report [1] - For the year 2024, Meilixin's revenue composition is entirely from aluminum components, accounting for 100.0% [1] Group 2 - The pet industry is experiencing a significant boom, with a market size of 300 billion yuan, leading to a surge in stock prices for related listed companies [1]

Core Viewpoint - Meilixin reported a revenue of 1.859 billion yuan for the first half of 2025, reflecting a year-on-year growth of 12.41%, but faced a net loss of 105 million yuan due to decreased gross margins and increased asset impairments [1] Group 1: Financial Performance - The company achieved an operating income of 1.859 billion yuan in the first half of 2025, which is a 12.41% increase compared to the previous year [1] - The net profit attributable to the parent company was -105 million yuan, indicating a decline compared to the same period last year [1] Group 2: Strategic Initiatives - In response to the slowing growth of traditional fuel vehicles and the rapid development of new energy vehicles, the company is focusing on maintaining its market share while enhancing efficiency and reducing costs [1] - The establishment of Meilixin (Shanghai) Company aims to support breakthroughs in extreme heat dissipation technology and innovations in aluminum-magnesium alloy lightweight materials through collaboration with top domestic research institutions [1] - The company also founded Chongqing Yulai Sheng Precision Technology Co., Ltd. to provide precision components for semiconductor clients, currently serving leading domestic customers in Shanghai and Shenzhen [1]

Group 1 - The core viewpoint of the article is that Meilixin (301307) reported a significant decline in net profit despite an increase in revenue for the first half of 2025 [1] Group 2 - In the first half of 2025, the company achieved an operating income of 1.859 billion yuan, representing a year-on-year growth of 12.41% [1] - The net profit for the same period was -105 million yuan, showing a year-on-year decrease of 468.13% [1] - The basic earnings per share were -0.5 yuan, and the weighted average return on equity (ROE) was -3.47% [1]

证券代码：301307 证券简称：美利信 公告编号：2025-043 重庆美利信科技股份有限公司 关于选举第二届董事会职工代表董事的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 重庆美利信科技股份有限公司（以下简称"公司"）于 2025 年 8 月 26 日召开 2025 年第一次职工代表大会，经公司职工代表认真审议、民主表决，同意选举 万敏（简历详见附件）为公司第二届董事会职工代表董事，任期自本次职工代表 大会审议通过之日起至公司第二届董事会任期届满之日止。 上述职工代表董事具备担任公司董事的任职资格和条件，符合相关法律法规 及《公司章程》的规定。本次选举完成后，公司董事会中兼任高级管理人员以及 由职工代表担任的董事人数未超过董事总数的二分之一。 特此公告。 重庆美利信科技股份有限公司董事会 2025 年 8 月 27 日 附件：职工代表董事简历 万敏先生，出生于 1967 年 9 月，中国国籍，无境外永久居留权，本科学历。 2001 年 6 月至 2013 年 11 月历任重庆大江美利信压铸有限责任公司技术质量部 部长、质量部部长、压铸分厂厂长、总 ...

证券代码：301307 证券简称：美利信 公告编号：2025-042 重庆美利信科技股份有限公司 2025 年半年度募集资金存放与使用情况专项报告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 根据中国证券监督管理委员会《上市公司募集资金监管规则》和深圳证券 交易所《深圳证券交易所上市公司自律监管指引第2 号——创业板上市公司规 范运作》的规定，将本公司 2025年半年度募集资金存放与使用情况专项说明如 下： 一、募集资金基本情况 （一）实际募集资金金额和资金到账时间 根据中国证券监督管理委员会《关于同意重庆美利信科技股份有限公司首 次公开发行股票注册的批复》（证监许可〔2023〕418号），本公司由主承销商 长江证券承销保荐有限公司采用向参与战略配售的投资者定向配售、网下向符 合条件的网下投资者询价配售和网上向持有深圳市场非限售A股股份和非限售 存托凭证市值的社会公众投资者定价发行相结合的方式，向社会公众公开发行 人民币普通股（A股）股票5,300.00万股，发行价为每股人民币32.34元，共计募 集资金171,402.00万元，坐扣承销和保荐费用10,1 ...

关于重庆美利信科技股份有限公司 2025 年半年度持续督导跟踪报告 | 保荐人名称：长江证券承销保荐有限公司 | 被保荐公司简称：美利信 | | --- | --- | | 保荐代表人姓名：李海波 | 联系电话：010-57065268 | | 保荐代表人姓名：朱伟 | 联系电话：010-57065268 | 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、募集资金管 | 是 | | 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 次 1 | | （2）公司募集资金项目进展是否与信息披露文件 | 是 | | 一致 | | | 4、公司治理督导情况 ...

证券日报网讯8月26日晚间，美利信（301307）发布公告称，同意选举万敏为公司第二届董事会职工代 表董事。 ...