内容概要：智能仓储物流系统是利用先进技术来优化和自动化仓库运营的各个方面。随着物联网、大数 据、云计算、人工智能、数字孪生等新一代信息通信技术的快速发展。我国经济进入转型升级阶段，国 内企业生产规模日趋扩大、企业管理信息化的日益普及，人工、成本、仓储租金等则在不断上升，各行 业对于减少人工成本、提高效率及良品率、节约仓储面积及生产模式转变等需求十分迫切，各类企业对 现代物流及先进物流技术与设备的需求与日俱增，促进智能物流系统的快速发展。2018年我国智能仓储 物流系统市场规模为319.2亿元，预计2025年有望达到1350亿元。在经济全球化、互联网技术等多重因 素推动下，以信息技术为核心、强调物流智能化和自动化、强化资源整合和物流全过程优化的现代物流 系统已成为物流行业发展的方向，各行业大中型企业需要广泛建设智能化的生产与物流系统，市场需求 将进一步涌现，智能仓储物流系统应用前景广阔。 上市企业：音飞储存（603066）、德马科技（688360）、北自科技（603082）、诺力股份（603611）、 今天国际（300532）、兰剑智能（688557）、井松智能（688251）、中科微至（688211）、昆船能 ...

Core Insights - The Chinese smart logistics equipment industry is projected to reach a market size of approximately 110 billion yuan in 2024, with a compound annual growth rate (CAGR) of 15.64% over the past two years [1][3]. Market Segmentation - The smart logistics equipment market is divided into four main segments: smart warehousing equipment, smart sorting equipment, smart handling equipment, and logistics robots. In 2023, smart warehousing and smart sorting equipment accounted for the largest shares of the market, with 36% and 33% respectively [3]. Industry Competition - Leading companies in the Chinese smart logistics equipment sector include Dongjie Intelligent, Nuoli Co., and Dematech. Their specific business focuses and layouts are as follows: - **Dongjie Intelligent**: Focuses on enhancing value creation for manufacturing enterprises through smart logistics equipment, integrating advanced technologies such as 5G and big data [6]. - **Nuoli Co.**: A leading provider of smart logistics system solutions, specializing in the design, manufacturing, and technical services of intelligent warehousing logistics equipment [6]. - **Dematech**: A technology innovation enterprise across the entire smart logistics equipment industry chain, providing automated logistics solutions widely used in various sectors including e-commerce and retail [6]. - **Lanjian Intelligent**: Offers a comprehensive smart logistics system solution, including consulting, software development, and equipment manufacturing, with a focus on warehouse automation technology [6]. - **Jintian International**: A high-tech logistics technology company that integrates logistics solutions, technical transformation, and system integration [6].

Investment Rating - The industry investment rating is "Overweight," indicating that the industry index is expected to outperform the CSI 300 index by 10% or more over the next six months [7]. Core Insights - The forklift industry is experiencing steady growth, with overall sales in March 2025 reaching 153,100 units, a year-on-year increase of 11.5%. Domestic sales accounted for 107,800 units, up 11.6%, while overseas sales reached 45,200 units, increasing by 11.2% [6]. - The first quarter of 2025 showed a robust growth of 10.16% in overall sales, with external sales outperforming domestic sales, driven by domestic companies' international expansion and increasing global demand for forklifts [6]. - Anhui Heli (600761) reported a 2024 revenue of 17.325 billion yuan, a year-on-year increase of 0.99%, with a net profit of 1.32 billion yuan, up 0.18%. The company achieved a sales volume of 340,200 units, a growth of 16.53%, surpassing the industry average [6]. - Hangcha Group achieved a revenue of 16.486 billion yuan in 2024, a 1.15% increase, with a net profit of 2.022 billion yuan, up 17.86%. The company sold 280,000 units, a growth of 14.06% [6]. Summary by Sections Sales Performance - In Q1 2025, the forklift industry saw a total sales volume of 348,200 units, with domestic sales at 229,000 units and exports at 119,100 units, reflecting a year-on-year growth of 10.16% [6]. - The demand for forklifts is closely linked to the manufacturing and logistics sectors, with the manufacturing PMI reaching 51.80% in March 2025, indicating a favorable economic environment [6]. Company Highlights - Anhui Heli's international revenue reached 6.928 billion yuan in 2024, a 13.33% increase, with exports of 126,400 units, up 34.08% [6]. - Hangcha Group's overseas sales surpassed 100,000 units for the first time, generating 6.846 billion yuan in revenue, a 4.76% increase, with a gross margin of 30.72% [6]. Future Outlook - The forklift market is expected to benefit from the recovery of the manufacturing sector and increased logistics demand, with domestic companies accelerating their global expansion and establishing local production capacities [6]. - The report suggests focusing on leading domestic forklift manufacturers with strong brand recognition and R&D capabilities, such as Anhui Heli and Hangcha Group, as they are well-positioned to reshape the logistics industry landscape [6].

登录新浪财经APP 搜索【信披】查看更多考评等级 第一节 重要提示 1、本年度报告摘要来自年度报告全文，为全面了解本公司的经营成果、财务状况及未来发展规划，投 资者应当到www.sse.com.cn网站仔细阅读年度报告全文。 2、重大风险提示 公司已在本报告中描述可能存在的风险，敬请查阅"第三节管理层讨论与分析"之"四、风险因素"部分， 请投资者注意投资风险。 3、本公司董事会、监事会及董事、监事、高级管理人员保证年度报告内容的真实性、准确性、完整 性，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 4、公司全体董事出席董事会会议。 5、毕马威华振会计师事务所（特殊普通合伙）为本公司出具了标准无保留意见的审计报告。 6、公司上市时未盈利且尚未实现盈利 □是 √否 7、董事会决议通过的本报告期利润分配预案或公积金转增股本预案 经毕马威华振会计师事务所（特殊普通合伙）审计，中科微至2024年度实现归属于上市公司股东的净利 润为-84,750,818.23元，母公司净利润为-65,668,824.90元。母公司2024年度期初累计未分配利润为 70,141,006.36元，扣除当年股东分红10, ...

点击注册小程序 查看完整报告 特别申明： 本订阅号中所涉及的证券研究信息由光大证券研究所编写，仅面向光大证券专业投资者客 户，用作新媒体形势下研究信息和研究观点的沟通交流。非光大证券专业投资者客户，请勿 订阅、接收或使用本订阅号中的任何信息。本订阅号难以设置访问权限，若给您造成不便， 敬请谅解。光大证券研究所不会因关注、收到或阅读本订阅号推送内容而视相关人员为光大 证券的客户。 报告摘要 业绩稳定增长，盈利能力持续提升 积极推动AI技术应用，智能物流有望打开第二成长曲线 2024年公司智能物流整体解决方案合同金额首次突破10亿元，在海外市场实现了具有里程碑意义的开拓成 果，成功中标快消品、零售、汽车、轮胎等领域内全球顶级公司的项目订单。公司全力推动AI技术在智能 物流领域的深度应用，积极投入研发人形智能物流机器人，打造全方位AI智能物流解决方案。在各行业智 能化转型升级的大趋势下，智能物流的市场需求持续增强，智能物流业务有望为公司打造第二增长曲线。 风险提示： 上游原材料价格波动的风险；出口发货不顺风险；海外市场拓展不及预期的风险；叉车锂电化 化进程不及预期的风险。 杭叉集团2024年实现营业收入164.9亿 ...

业绩稳定增长，盈利能力持续提升 杭叉集团2024年实现营业收入164.9亿元，同比增长1.15%（调整后）；归母净利润20.2亿元，同比增长 17.9%（调整后）。毛利率为23.6%，同比上升2.8个百分点；净利率为13.1%，同比上升1.8个百分点。 公司2025年一季度实现营业收入45.1亿元，同比增长8.0%；归母净利润4.4亿元，同比增长15.2%。毛利率 为20.5%，同比下降0.1个百分点；净利率为10.0%，同比上升0.4个百分点。 点击注册小程序 查看完整报告 特别申明： 本订阅号中所涉及的证券研究信息由光大证券研究所编写，仅面向光大证券专业投资者客 户，用作新媒体形势下研究信息和研究观点的沟通交流。非光大证券专业投资者客户，请勿 订阅、接收或使用本订阅号中的任何信息。本订阅号难以设置访问权限，若给您造成不便， 敬请谅解。光大证券研究所不会因关注、收到或阅读本订阅号推送内容而视相关人员为光大 证券的客户。 报告摘要 本订阅号是光大证券股份有限公司研究所（以下简称"光大证券研究所"）依法设立、独立运营的 官方唯一订阅号。其他任何以光大证券研究所名义注册的、或含有"光大证券研究"、与光大证券 研究 ...

智能物流板块快速拉升 【导读】智能物流板块多股涨停，跨境支付概念股表现活跃，华鹏飞开盘两分钟冲上20cm涨停板 中国基金报记者李智 一起来看下最新的市场情况及资讯。 4月22日，A股三大指数涨跌不一，创业板指一度跌逾1%，截至发稿，沪指涨0.19%，深成指跌0.31%， 创业板指跌0.77%。 从板块来看，智能物流、跨境支付、港口、零售等板块表现活跃，而互联网、餐饮旅游、AI算力等板 块跌幅居前。 港股三大指数悉数走低，恒生科技指数跌逾1%，同程旅行跌超10%，京东集团、美团、腾讯音乐等跌 幅居前。 跨境支付概念股表现活跃 跨境支付概念股开盘大涨，新晨科技20cm涨停，拉卡拉、高伟达、科蓝软件等涨超10%。 | 名称 | 现价 | 涨跌幅 | 成交量 | 换手率 | 市智峰 | 总市值 | | --- | --- | --- | --- | --- | --- | --- | | 新晨科技 | 16.66 | 20.03% | 90万 | 0.36% | 131 | 50亿 | | 拉卡拉 | 23.86 | 12.07% | 1.17亿 | 15.94% | 53.9 | 1887 | | 高伟达 | 16 ...

Investment Rating - The report assigns an "Add-A" rating to the company, indicating a positive outlook for its stock performance [4][9]. Core Insights - The company reported a revenue of 17.325 billion yuan for 2024, a slight increase of 0.99% year-on-year, while the net profit was 1.32 billion yuan, up 0.18% year-on-year [5][6]. - The company has shown a strong growth in forklift sales, outperforming the industry with a 16.53% increase in sales volume, capturing a market share of 26.5% [6]. - The overseas business has been a significant growth driver, with a 34% increase in complete machine exports and overseas revenue reaching 6.928 billion yuan, accounting for nearly 40% of total revenue [6][7]. Market Performance - As of April 18, 2025, the company's closing price was 15.55 yuan, with a yearly high of 28.50 yuan and a low of 14.31 yuan [2]. - The total market capitalization stands at 13.85 billion yuan [2]. Financial Data - The basic earnings per share (EPS) for 2024 is reported at 1.59 yuan, with a diluted EPS also at 1.59 yuan [3]. - The return on equity (ROE) is 13.63%, indicating a solid profitability level [3]. - The company plans to distribute a cash dividend of 534 million yuan, with a payout ratio of 40.5%, resulting in a dividend yield of approximately 3.4% [7]. Future Projections - The company expects revenues of 18.213 billion yuan in 2025, with projected EPS of 1.59 yuan, 1.71 yuan, and 1.95 yuan for 2025, 2026, and 2027 respectively [11][9]. - The projected price-to-earnings (P/E) ratios for 2025, 2026, and 2027 are 9.8, 9.1, and 8.0 respectively, indicating a potentially undervalued stock [11][9].

现场，阿卢米科技、东风鸿泰、长江万润半导体、捷普科技、中国邮政储蓄银行等50余 家企业与长江汽车链平台集中签约，涵盖供应链协同、跨境贸易与物流、金融服务等领域。 会上，湖北长江车百链科技有限公司产品研发部负责人柯美君介绍，围绕数字化供应 链、智能物流等领域，今年将对平台进行至少两次大的升级，帮助企业找到更多的合作商和 订单。其中，平台4.0将整合汽车链多个平台信息，打通汽车产业上下游服务和数据；平台 5.0将建设智能供需对接等6大应用模型，为企业生产经营"精准画像"，从"软件定义汽车"迈 向"AI定义汽车"。 "届时，入驻企业需求订单在10秒钟内就可推送给匹配潜在供应商。"柯美君称，经过两 次升级后，长江汽车链平台注册用户将突破5万户，撮合对接订单将超过5000笔，汇聚产业 链企业超30万家。 中国汽车流通协会乘用车市场信息联席分会秘书长崔东树表示，中国汽车出口规模潜力 巨大，2024年中国汽车实现出口641万辆，且保持23%的增长。长江汽车链支持企业面向全 球市场需求，多渠道扩大汽车出口，能够打造更加完善的汽车供应链生态体系，推动"中国 车谷"加速迈向"世界车谷"。 超15万家企业汇聚，一年内签下了158亿 ...

Group 1: Forklift Industry Overview - Forklift sales in January-February 2025 showed steady growth, with total sales reaching 195,100 units, a year-on-year increase of 9.15%. Domestic sales were 121,200 units, up 6.48%, while overseas sales were 73,900 units, up 13.84% [6][7] - In February 2025, major forklift manufacturers sold 101,500 units, a significant year-on-year increase of 49.1%. Domestic sales were 66,200 units, up 59.4%, and export sales were 35,200 units, up 32.9% [6][7] - The strong performance in February is attributed to a low base from the previous year due to the Spring Festival occurring in February 2024. The overall demand for forklifts is closely linked to the manufacturing and logistics sectors, which are showing signs of recovery [7][9] Group 2: Key Players and Global Expansion - Anhui Heli has announced its first overseas joint venture factory in Thailand, aiming for an annual production of 10,000 forklifts and 10,000 lithium battery packs. This move is part of its strategy to enhance global presence and brand influence [8] - Hangcha Group plans to establish companies in the United States and the Middle East to strengthen its market position and enhance competitiveness in North America and the Middle East [8] - The domestic forklift leaders are accelerating their globalization efforts, establishing local production capacities and after-sales services abroad, which is expected to increase their market penetration [9] Group 3: Economic Data and Implications - The economic data for January-February 2025 indicates a positive trend, with retail sales increasing by 4.0% year-on-year and fixed asset investment rising by 4.1% [11][12] - High-tech industries are highlighted as a significant growth area, with high-tech manufacturing value-added and investment growing faster than the overall economy [11][12] - The manufacturing sector remains stable, with industrial production growth at 5.9%, supported by strong performance in equipment manufacturing [12][14]