| 市场数据 | | | | --- | --- | --- | | 指数名称 | 收盘 | 涨跌% | | 上证指数 | 3280.34 | 0.13 | | 深证成指 | 9759.05 | -0.16 | | 创业板指 | 1908.78 | 0.09 | | 科创 50 | 1016.81 | 0.23 | | 北证 50 | 1303.15 | 0.91 | | 沪深 300 | 3772.22 | -0.02 | A 股市场概览 | 类别 | 总市值 | 流通市 | 市盈率 | 市净率 | | --- | --- | --- | --- | --- | | | (亿元) | 值(亿元) | PE | PB | | 上证指数 | 632277 | 491820 | 11.58 | 1.23 | | 深证成指 | 207991 | 175983 | 19.95 | 2.09 | | 创业板指 | 53773 | 42538 | 28.46 | 3.63 | | 科创 50 | 35293 | 22673 | 48.71 | 4.27 | | 北证 50 | 2779 | 1911 | 40.25 | ...

2025 年 04 月 17 日 | 市场数据 | | | | --- | --- | --- | | 指数名称 | 收盘 | 涨跌% | | 上证指数 | 3276.00 | 0.26 | | 深证成指 | 9774.73 | -0.85 | | 创业板指 | 1907.11 | -1.21 | | 科创 50 | 1014.51 | 0.81 | | 北证 50 | 1291.45 | -1.13 | | 沪深 300 | 3772.82 | 0.31 | 证券研究报告 A 股市场概览 | 类别 | 总市值 | 流通市 | 市盈率 | 市净率 | | --- | --- | --- | --- | --- | | | (亿元) | 值(亿元) | PE | PB | | 上证指数 | 631478 | 491105 | 11.55 | 1.23 | | 深证成指 | 208262 | 176179 | 20.00 | 2.09 | | 创业板指 | 53710 | 42447 | 28.48 | 3.63 | | 科创 50 | 35255 | 22595 | 48.85 | 4.27 | | 北证 50 ...

证券研究报告 2025 年 04 月 16 日 | 市场数据 | | | | --- | --- | --- | | 指数名称 | 收盘 | 涨跌% | | 上证指数 | 3267.66 | 0.15 | | 深证成指 | 9858.10 | -0.27 | | 创业板指 | 1930.40 | -0.13 | | 科创 50 | 1006.34 | -0.78 | | 北证 50 | 1306.14 | -0.34 | | 沪深 300 | 3761.23 | 0.06 | A 股市场概览 | 类别 | 总市值 | 流通市 | 市盈率 | 市净率 | | --- | --- | --- | --- | --- | | | (亿元) | 值(亿元) | PE | PB | | 上证指数 | 629069 | 489746 | 11.52 | 1.22 | | 深证成指 | 209990 | 177556 | 20.17 | 2.11 | | 创业板指 | 54361 | 42990 | 28.83 | 3.67 | | 科创 50 | 34892 | 22379 | 48.50 | 4.23 | | 北证 5 ...

Investment Rating - The report maintains a rating of "Accumulate" for the company [7] Core Views - The company reported a revenue of 48.08 billion yuan in 2024, a decrease of 0.76% year-on-year, and a net profit attributable to shareholders of 6.55 billion yuan, down 7.41% year-on-year [7] - The aluminum electrolytic capacitor remains the core business, with significant growth potential in the AI sector and breakthroughs in automotive applications [8] - The company is positioned to benefit from the rapid penetration of AI applications, with projected revenues of 55.22 billion yuan in 2025, representing a year-on-year growth of 14.84% [8] Financial Performance Summary - **Revenue Forecast**: - 2023: 48.45 billion yuan - 2024: 48.08 billion yuan - 2025: 55.22 billion yuan - 2026: 66.34 billion yuan - 2027: 77.45 billion yuan [4][9] - **Net Profit Forecast**: - 2023: 7.07 billion yuan - 2024: 6.55 billion yuan - 2025: 8.02 billion yuan - 2026: 10.01 billion yuan - 2027: 12.06 billion yuan [4][9] - **Earnings Per Share (EPS)**: - 2023: 0.83 yuan - 2024: 0.77 yuan - 2025: 0.94 yuan - 2026: 1.18 yuan - 2027: 1.42 yuan [4][9] - **Price-to-Earnings (P/E) Ratio**: - 2023: 22.01 - 2024: 23.77 - 2025: 19.40 - 2026: 15.55 - 2027: 12.90 [4][9] - **Price-to-Book (P/B) Ratio**: - 2023: 2.82 - 2024: 2.66 - 2025: 2.39 - 2026: 2.09 - 2027: 1.80 [4][9]

Investment Rating - The report maintains an "Accumulate" rating for Jianghai Co., Ltd. (002484.SZ) [3] Core Views - The company is expected to see a recovery in performance in Q4 2024, with significant growth potential in its supercapacitor business [1][6] - The aluminum electrolytic capacitor remains the core business, with breakthroughs in technology and industry chain layout enhancing competitive advantages [6][7] - The thin film capacitor business is showing signs of a turning point, and the supercapacitor's application in AI is promising [7] Financial Forecasts - Revenue projections for Jianghai Co., Ltd. are as follows: - 2023: 48.45 billion CNY - 2024: 48.08 billion CNY - 2025: 55.22 billion CNY - 2026: 66.34 billion CNY - 2027: 77.45 billion CNY [2][8] - Net profit forecasts are: - 2023: 7.07 billion CNY - 2024: 6.55 billion CNY - 2025: 8.02 billion CNY - 2026: 10.01 billion CNY - 2027: 12.06 billion CNY [2][8] - Earnings per share (EPS) estimates are: - 2023: 0.83 CNY - 2024: 0.77 CNY - 2025: 0.94 CNY - 2026: 1.18 CNY - 2027: 1.42 CNY [2][8] Business Segments Performance - The revenue breakdown by business segments for 2024 is as follows: - Aluminum electrolytic capacitors: 39.42 billion CNY (81.99%) - Thin film capacitors: 4.30 billion CNY (8.94%) - Supercapacitors: 2.31 billion CNY (4.80%) - Electrode foil: 1.75 billion CNY (3.63%) [6] - The growth rates for these segments are: - Aluminum electrolytic capacitors: -0.70% - Thin film capacitors: -5.77% - Supercapacitors: +4.34% - Electrode foil: +6.50% [6] Valuation Metrics - The price-to-earnings (P/E) ratio is projected to decrease from 22.01 in 2023 to 12.90 by 2027 [2][8] - The price-to-book (P/B) ratio is expected to decline from 2.82 in 2023 to 1.80 in 2027 [2][8]

证券研究报告 2025 年 04 月 14 日 | 市场数据 | | | | --- | --- | --- | | 指数名称 | 收盘 | 涨跌% | | 上证指数 | 3238.23 | 0.45 | | 深证成指 | 9834.44 | 0.82 | | 创业板指 | 1926.37 | 1.36 | | 科创 50 | 1011.71 | 2.07 | | 北证 50 | 1284.13 | 1.48 | A 股市场概览 | 类别 | 总市值 | 流通市值 | 市盈率 | 市净率 | | --- | --- | --- | --- | --- | | | (亿元) | (亿元) | PE | PB | | 上证指数 | 622548 | 485311 | 11.39 | 1.21 | | 深证成指 | 209347 | 177040 | 20.22 | 2.11 | | 创业板指 | 54267 | 42879 | 29.33 | 3.70 | | 科创 50 | 35085 | 22506 | 48.71 | 4.25 | | 北证 50 | 2730 | 1894 | 39.11 | 4.43 | ...

上证指数-沪深 300 走势图 -10% 0% 10% 20% 30% 2024-04 2024-07 2024-10 2025-01 上证指数 沪深300 黄红卫 分析师 执业证书编号:S0530519010001 huanghongwei@hnchasing.com 相关报告 1 策略深度报告：AI 产业迈入成长期，坚定中国 AI 产业发展信心 2025-04-09 2 财信证券宏观策略周报（4.7-4.11）：冷静应对 美国关税冲击，短期转向防守策略 2025-04-06 3 策略专题报告：2025 年第二季度十大金股 2025-04-01 策略点评 证券研究报告 市场情绪逐步趋稳，关注苹果产业链估值修复 财信证券宏观策略周报（4.14-4.18） 2025 年 04 月 13 日 投资要点 此报告 考 请务必阅读正文之后的免责条款部分 上周（4.7-4.11)股指表现为，上证指数下跌 3.11%，收报 3238.23 点，深证成 指下跌 5.13%，收报 9834.44 点，中小 100 下跌 4.32%，创业板指下跌 6.73%； 行业板块方面，农林牧渔、商贸零售、国防军工涨幅居前；沪深两市日均成 ...

策略点评 证券研究报告 市场情绪逐步趋稳，关注苹果产业链估值修复 财信证券宏观策略周报（4.14-4.18） 2025 年 04 月 13 日 上证指数-沪深 300 走势图 -10% 0% 10% 20% 30% 2024-04 2024-07 2024-10 2025-01 上证指数 沪深300 黄红卫 分析师 执业证书编号:S0530519010001 huanghongwei@hnchasing.com 相关报告 1 策略深度报告：AI 产业迈入成长期，坚定中国 AI 产业发展信心 2025-04-09 2 财信证券宏观策略周报（4.7-4.11）：冷静应对 美国关税冲击，短期转向防守策略 2025-04-06 3 策略专题报告：2025 年第二季度十大金股 2025-04-01 投资要点 此报告仅供内部客户参考 请务必阅读正文之后的免责条款部分 上周（4.7-4.11)股指表现为，上证指数下跌 3.11%，收报 3238.23 点，深证成 指下跌 5.13%，收报 9834.44 点，中小 100 下跌 4.32%，创业板指下跌 6.73%； 行业板块方面，农林牧渔、商贸零售、国防军工涨幅居前；沪深 ...

Investment Rating - The investment rating for the company is "Buy" with the rating maintained [1][6] Core Views - The company has shown significant revenue growth, achieving a revenue of 11.945 billion yuan in 2024, a year-on-year increase of 38.1%, although the net profit attributable to the parent company decreased by 3.6% to 1.977 billion yuan [3] - The company is recognized as the global leader in the robotic vacuum cleaner market, with domestic revenue growing by 25.4% and international revenue by 51.1% in 2024 [3] - The company is actively expanding its market and product offerings, with a focus on long-term profitability improvement despite short-term pressure on profit margins [3][4] Financial Forecasts - The company is projected to achieve revenues of 15.201 billion yuan, 17.939 billion yuan, and 20.662 billion yuan for the years 2025, 2026, and 2027 respectively [2][5] - The net profit attributable to the parent company is expected to be 2.101 billion yuan, 2.430 billion yuan, and 2.786 billion yuan for the same years [2][5] - Earnings per share (EPS) are forecasted to be 11.37 yuan, 13.15 yuan, and 15.08 yuan for 2025, 2026, and 2027 respectively [2][5] Market Performance - The company's stock price has fluctuated between 184.52 yuan and 465.10 yuan over the past 52 weeks, with a current price of 184.52 yuan [1] - The company has experienced a decline in stock performance over the past year, with a drop of 22.49% over 12 months [1] Strategic Initiatives - The company is transitioning from a distribution model to a self-operated model in Europe, which has led to increased initial costs but is expected to yield positive results in the long term [3] - The company is focusing on product innovation, including the introduction of a foldable robotic arm design, which enhances its competitive edge in the North American market [3]

A 股市场概览 | 类别 | 总市值 | 流通市 | 市盈率 | 市净率 | | --- | --- | --- | --- | --- | | | (亿元) | 值(亿元) | PE | PB | | 上证指数 | 620004 | 483474 | 11.31 | 1.20 | | 深证成指 | 207784 | 175929 | 20.06 | 2.09 | | 创业板指 | 53598 | 42268 | 28.85 | 3.66 | | 科创 50 | 34416 | 22111 | 47.58 | 4.16 | | 北证 50 | 2702 | 1869 | 38.81 | 4.38 | | 沪深 300 | 548953 | 413776 | 10.65 | 1.20 | | 袁闯 | 分析师 | | --- | --- | | 执业证书编号:S0530520010002 | | | yuanchuang@hnchasing.com | | | 周舒鹏 | 研究助理 | | zhoushupeng@hnchasing.com | | 证券研究报告 2025 年 04 月 11 日 | 市场数据 ...