8月28日，斯菱股份跌5.11%，截至发稿，报96.10元/股，成交4.00亿元，换手率4.16%，总市值153.28亿 元。斯菱股份股价已经连续3天下跌，区间累计跌幅6.65%。 德邦高端装备混合发起式A（023566）成立日期2025年3月14日，最新规模1325.97万。成立以来收益 0.79%。 德邦高端装备混合发起式A（023566）基金经理为陆阳。 截至发稿，陆阳累计任职时间1年309天，现任基金资产总规模11.98亿元，任职期间最佳基金回报 173.37%， 任职期间最差基金回报0.68%。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 责任编辑：小浪快报 资料显示，浙江斯菱汽车轴承股份有限公司位于浙江省新昌县澄潭街道江东路3号，成立日期2004年11 月22日，上市日期2023年9月15日，公司主营业务涉及汽车轴承的研发、制造和销售。主营业务收入构 成为：制动系统类轴承80.22%，传动系统类轴承12.78%，动力系统类轴承5.27%，非汽车类轴承 0. ...

Group 1: Financial Performance - The company's gross margin increased in the first half of the year due to continuous optimization of product and customer structure, leading to a higher sales proportion of products with better margins [2] - The company aims to maintain a stable and sustainable gross margin level through a focus on high value-added business, technological upgrades, and cost control [2] Group 2: Impact of Tariffs - The company's Thailand factory has successfully obtained the E-Ruling from U.S. Customs, allowing it to meet most order demands in the North American market [2] - The North American business primarily operates on an FOB basis, with related tariffs borne by customers, resulting in a limited impact from tariff policies due to the essential nature of the products in the aftermarket [2] Group 3: Product Segmentation - Bearing products for braking systems represent the largest revenue segment, including hub bearings and heavy-duty truck bearings, which are essential components for both electric and traditional fuel vehicles [2] - The company plans to continue increasing market share in this segment to drive steady business growth and enhance overall profitability [2] Group 4: Future Development Plans - The main engine market is a key strategic direction for the company, with ongoing efforts to expand quality projects [2] - A new project for the annual production of 6.29 million high-end automotive bearings is expected to be completed next year, enhancing the company's capacity for high-end intelligent products [2] Group 5: Robotics Division - The company established a robotics components division in 2024, focusing on the research, production, and sales of robotic components, particularly harmonic reducers [3] - The core equipment for harmonic reducers is expected to be in place by the end of 2024, enabling small-scale production, with a second production line investment aimed at meeting future market demand [3]

Investment Rating - The report maintains a "Buy" rating for the company [5] Core Views - The company's performance in H1 2025 met expectations, with revenue of 390 million yuan, a year-on-year increase of 9%, and a net profit attributable to shareholders of 100 million yuan, up 5% year-on-year [1] - The company is accelerating its global expansion, with production bases in Xinchang and Thailand, which are expected to support future revenue growth [2] - The establishment of a robotics division positions the company to benefit from the upcoming growth in the robotics industry, leveraging its precision manufacturing capabilities [2] Financial Performance Summary - In H1 2025, the company's gross margin was 34.8%, an increase of 1.9 percentage points year-on-year, while the net profit margin was 25.4%, a decrease of 0.9 percentage points year-on-year [1] - Revenue projections for 2025-2027 are 952 million yuan, 1.171 billion yuan, and 1.581 billion yuan, respectively, with corresponding net profits of 218 million yuan, 259 million yuan, and 347 million yuan [4] - The company’s earnings per share (EPS) for 2025 is projected to be 1.36 yuan, with a price-to-earnings (P/E) ratio of 75.5 [4]

Core Viewpoint - The recent financial report of Slin Co., Ltd. (301550) shows moderate growth in revenue and net profit, but raises concerns regarding accounts receivable and cash flow performance [1][3]. Financial Performance - Total revenue for the first half of 2025 reached 391 million yuan, an increase of 8.75% year-on-year [1]. - Net profit attributable to shareholders was 99.17 million yuan, up 4.95% year-on-year [1]. - In Q2 2025, total revenue was 196 million yuan, a slight decrease of 0.41% year-on-year, while net profit rose by 11.05% to 52.71 million yuan [1]. - Gross margin improved to 34.82%, up 5.9% year-on-year, while net margin decreased to 25.35%, down 3.5% year-on-year [1]. - Accounts receivable increased significantly by 32.88% year-on-year, raising concerns about cash flow [1][7]. Cash Flow and Expenses - Operating cash flow decreased by 34.43%, attributed to an increase in payable procurement [3]. - The net increase in cash and cash equivalents surged by 279.5%, due to the redemption of financial products [4]. - Total sales, management, and financial expenses rose by 205.61% year-on-year, totaling 2.93 million yuan [1]. Investment and Returns - The company's return on invested capital (ROIC) was 9.15%, indicating average capital returns [5]. - The historical median ROIC since the company's listing is 12.25%, suggesting a generally favorable investment return profile [5]. Accounts Receivable and Market Position - The ratio of accounts receivable to profit reached 136.63%, indicating potential liquidity issues [7]. - The company has established a competitive advantage in import substitution through differentiated product manufacturing and a robust supply chain [9]. Fund Holdings - Notable funds holding Slin Co., Ltd. shares include Yongying Advanced Manufacturing Mixed Fund and Penghua Carbon Neutral Theme Mixed Fund, with recent increases in holdings [8]. - The largest fund, Yongying Advanced Manufacturing Mixed Fund, has a scale of 2.976 billion yuan and has shown significant growth over the past year [8].

Investment Rating - The report maintains a "Buy" rating for the company [1] Core Views - The company's performance in the first half of 2025 met market expectations, with revenue of 391 million yuan, a year-on-year increase of 8.75%, and a net profit attributable to shareholders of 99 million yuan, up 4.95% year-on-year [8] - The company is actively expanding its robot components and automation production lines, with the first production line already operational and plans for a second line investment in 2025 [8] - The company has a strong global presence, with stable orders from leading global clients and ongoing capacity upgrades [8] - Profit margins have improved due to changes in customer structure, with a gross margin of 34.82% in the first half of 2025, up 1.94 percentage points year-on-year [8] Financial Summary - Total revenue is projected to reach 950.19 million yuan in 2025, with a year-on-year growth of 22.71% [1] - Net profit attributable to shareholders is expected to be 221.36 million yuan in 2025, reflecting a year-on-year increase of 16.48% [1] - The company’s earnings per share (EPS) is forecasted to be 1.39 yuan in 2025, with a price-to-earnings (P/E) ratio of 78.16 based on the current price [1]

经济观察网 2025年8月24日，斯菱股份(301550)发布2025年半年度报告，2025年上半年实现营业收入 3.91亿元，同比增长8.75%；实现净利润9917.16万元，同比增长4.95%；基本每股收益0.62元；加权平均 净资产收益率ROE为5.60%。 ...

证券代码：301550 证券简称：斯菱股份 公告编号：2025-034 浙江斯菱汽车轴承股份有限公司 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。 浙江斯菱汽车轴承股份有限公司（以下简称"公司"）于2025年8月22日召开第 四届董事会第十次会议审议通过了《关于提请召开2025年第一次临时股东大会的议 案》，公司董事会决定于2025年9月10日（星期三）以现场表决与网络投票相结合的 方式召开公司2025年第一次临时股东大会（以下简称"本次会议"或"本次股东大会"） 现将本次股东大会相关事宜通知如下： 一、召开会议的基本情况 门规章、规范性文件、深圳证券交易所业务规则和《公司章程》的相关规定和要求。 （1）现场会议时间：2025年9月10日（星期三）14:00 （2）网络投票时间：通过深圳证券交易所交易系统进行网络投票的具体时间为： 券交易所互联网投票系统投票的具体时间为：2025年9月10日（星期三）9:15—15:00 期间的任何时间。 本次股东大会采用现场表决与网络投票相结合的方式召开。 （1）现场表决：包括本人出席以及通过填写授权委托书（详见附件3）授 ...

证券代码：301550 证券简称：斯菱股份 公告编号：2025-029 浙江斯菱汽车轴承股份有限公司 第四届监事会第九次会议决议公告 本公司及监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。 一、监事会会议召开情况 浙江斯菱汽车轴承股份有限公司（以下简称"公司"）第四届监事会第九次会议通 知于 2025 年 8 月 12 日以电子邮件等通讯方式发出，于 2025 年 8 月 22 日在公司会议 室以现场结合通讯的方式召开。会议由公司监事会主席梁汉洋先生主持，本次会议应 出席监事 5 人，实际出席监事 5 人，公司董事会秘书列席了会议。 本次会议的召集、召开和表决程序符合有关法律、法规和《公司章程》的规定。 表决情况：同意 5 票，反对 0 票，弃权 0 票。 （二）审议通过《关于<2025 年半年度募集资金存放、管理与使用情况专项报告> 的议案》 二、监事会会议审议情况 与会监事经过审议，表决通过了以下议案： （一）审议通过《关于<2025 年半年度报告>及其摘要的议案》 公司《2025 年半年度报告》及其摘要的编制及审议程序符合法律、行政法规，报 告内容真实、准确、完 ...

Core Viewpoint - The board of directors of Zhejiang Siling Automotive Bearing Co., Ltd. held its tenth meeting of the fourth session, where several key resolutions were passed regarding the company's operations and governance structure [1][2][3]. Meeting Details - The meeting was convened on August 22, 2025, with all five directors present, and the procedures complied with relevant laws and regulations [1]. Resolutions Passed - The board approved the 2025 semi-annual report and its summary, confirming that the report accurately reflects the company's operational status without any misleading statements [2]. - A special report on the management and use of raised funds was also approved, indicating compliance with legal requirements and no violations in fund usage [2]. - The board proposed changes to the company's registered capital and the abolition of the supervisory board, with the audit committee taking over its responsibilities [3]. - The board agreed to postpone certain fundraising projects without altering the investment scale or direction, ensuring no adverse impact on the company's operations [6]. - The reappointment of Tianjian Accounting Firm as the financial auditor for 2025 was approved, emphasizing the firm's professionalism and continuity in auditing [6]. - The board proposed the establishment and revision of governance-related systems to enhance operational compliance and governance structure [6]. - A resolution was made to convene the first extraordinary general meeting of shareholders in 2025 on September 10, 2025 [10].

| 财通证券股份有限公司 | | --- | | 关于浙江斯菱汽车轴承股份有限公司 | | 保荐机构名称：财通证券股份有限公司 被保荐公司简称：斯菱股份 | | 保荐代表人姓名：王静 联系电话：0571-87130373 | | 保荐代表人姓名：戚淑亮 联系电话：0571-87821394 | | 一、保荐工作概述 | | 项目 工作内容 | | （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 0次 | | （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 | | （1）查询公司募集资金专户次数 按月查阅各期对账单 | | （2）公司募集资金项目进展是否与信息披露文件 | | 是 | | 一致 | | （1）列席公司股东大会次数 0次 | | （2）列席公司董事会次数 0次 | | （3）列席公司监事会次数 0次 | | （1）现场检查次数 1次 | | （2）现场检查报告是否按照本所规定报送 不适用 | | （3 ...