[Table_IndNameRptType] 轻工纺服 行业周报 半年报预告密集披露，业绩分化明显 行业[Table_IndRank] 评级：增 持 报告日期： 2025-07-20 [行业指数与沪深 Table_Chart] 300 走势比较 执业证书号：S0010523120001 邮箱：xucai@hazq.com 分析师：余倩莹 执业证书号：S0010524040004 邮箱：yuqianying@hazq.com [Table_Report] 相关报告 《行业周报：外卖大战持续升级，包 装企业有望受益_20250713》 主要观点： -15% -10% -5% 0% 5% 10% 轻工制造（申万） 纺织服饰（申万） 沪深300 [分析师：徐 Table_Author] 偲 2025 年 7 月 14 日至 7 月 18 日，上证综指上涨 0.69%，深证成指上 涨 2.04%，创业板指上涨 3.17%。分行业来看，申万轻工制造上涨 0.08%，相较沪深 300 指数-1.01pct，在 31 个申万一级行业指数中排 名 21；申万纺织服饰上涨 0.24%，相较沪深 300 指数-0.85pct，在 ...

A股上市公司半年度业绩轮廓渐显。 Wind统计数据显示，截至目前，累计超过1500家上市公司预告了公司半年度业绩表现，主要特点如下： 1.676家上市公司业绩预喜，占比约43%； 2.26家上市公司预计归属于上市公司股东的净利润最大增幅超过1000%； 3.193家上市公司业绩预计实现扭亏； 4.按Wind行业分类，预喜公司主要集中在硬件设备、化工和机械等行业。 从净利润最大变动幅度来看，26家公司预计归属于上市公司股东的净利润最大增幅超过1000%。 | 千方科技 | 预增 | 净利润:约1.5亿元~2亿元,增长1125.99%~1534.65% | | --- | --- | --- | | 华西证券 | 预增 | 净利润:约4.45亿元~5.75亿元,增长1025.19%~1353.9% | | 特一药业 | 预增 | 净利润:约3400万元~3800万元,增长1164.22%~1312.95% | | 杉杉股份 | 预增 | 净利润:约1.6亿元~2.4亿元,增长810.41%~1265.61% | | 海象新材 | 预增 | 净利润:约5600万元~7200万元,增长933.86%~1229.25% ...

Core Viewpoint - The article highlights the performance forecast of A-share listed companies for the first half of the year, indicating a significant number of companies are expected to report positive earnings, with a notable concentration in specific industries [2][3][4]. Summary by Sections Overall Performance - As of now, over 1500 A-share listed companies have announced their half-year performance forecasts, with 676 companies expecting positive earnings, accounting for approximately 43% of the total [2][4]. - 26 companies anticipate a net profit increase exceeding 1000% [8]. - 193 companies are expected to turn losses into profits [14]. Earnings Forecast Types - Among the companies forecasting positive earnings, 418 are expecting an increase, 59 slight increases, 6 are maintaining earnings, and 193 are turning losses into profits [5]. - Notable companies include: - China Salt Chemical: Revenue of 5.998 billion yuan, a decrease of 5.76% year-on-year, with a net profit of 52.71 million yuan [5]. - Shentong Technology: Revenue of 816 million yuan, a year-on-year increase of 22.46%, with a net profit of 64.28 million yuan, up 111.09% [5]. Companies with Significant Profit Increases - A list of companies with expected net profit increases exceeding 2000% includes: - Huayin Power: Net profit forecast of 180-220 million yuan, an increase of 3600.7%-4423.07% [9]. - Sanhe Pile: Net profit forecast of 60-75 million yuan, an increase of 3090.81%-3888.51% [12]. - Other companies like Huahong Technology and Wannianqing also show significant increases [11]. Companies Turning Losses into Profits - 193 companies are expected to turn losses into profits, with 24 of them forecasting net profits of 200 million yuan or more [14]. - New Hope is leading with a forecasted net profit of 680-780 million yuan, attributed to improvements in pig farming and feed business [15]. Industry Concentration - The companies expecting positive earnings are primarily concentrated in the hardware equipment, chemical, and machinery industries, with 77, 61, and 51 companies respectively [18]. - Historical trends indicate that during the mid-year reporting season, companies with stable profit growth are more likely to attract investor interest and outperform the market [18].

行 业 及 产 业 社会服务 行 业 研 究 / 行 业 点 评 相关研究 《苏超体育赛事带来靓眼经济支出，南京 商旅资产注入进度跟踪——社会服务行业 周报（6.30-7.4）》 2025/07/06 证券分析师 赵令伊 A0230518100003 zhaoly2@swsresearch.com 研究支持 2025 年 07 月 18 日 上半年出行需求受天气影响，酒店 行业预计分化加速 看好 ——社会服务半年报业绩前瞻 本期投资提示： 证 券 研 究 报 告 请务必仔细阅读正文之后的各项信息披露与声明 本研究报告仅通过邮件提供给 中庚基金 使用。1 杨光 A0230524100004 yangguang@swsresearch.com 联系人 杨光 (8621)23297818× yangguang@swsresearch.com ⚫ 旅游景区：我们预计九华旅游 25H1 营业收入实现 22%增长，归母净利润增长 28%。预计黄山旅 游 25H1 实现营收 9.11 亿元，同比增长 9%，实现归母净利润 1.49 亿元，同比增长 13%。根据长 白山发布的业绩预告，25H1 实现营收 2.35 亿元，同比 ...

Summary of Key Points Core Viewpoint - Over 40% of A-share listed companies in China have reported positive performance forecasts for the first half of 2025, indicating a recovery in various sectors driven by price increases in commodities like rare earths and gold [1][2]. Group 1: Positive Performance Forecasts - A total of 1,543 A-share companies have released performance forecasts, with 674 companies expecting positive results, including 419 with significant increases and 192 turning losses into profits [1]. - Notable performers include China Rare Earth, which anticipates a net profit of 136 million to 176 million yuan, a turnaround from a loss of 244 million yuan in the same period last year [1]. - Zijin Mining expects a net profit of approximately 23.2 billion yuan for the first half of 2025, a year-on-year increase of about 54% [1]. Group 2: Sector-Specific Highlights - The rare earth and gold sectors have shown remarkable performance, with companies like Northern Rare Earth projecting a net profit of 900 million to 960 million yuan, reflecting a year-on-year increase of 1,882.54% to 2,014.71% [2]. - The gold sector has also benefited from rising prices, with Shandong Gold forecasting a net profit of 2.55 billion to 3.05 billion yuan, an increase of 84.3% to 120.5% [2]. - The semiconductor industry is experiencing strong demand, with companies like Changjiang Storage expecting revenue of approximately 2.633 billion yuan, a year-on-year increase of about 58.17% [4]. Group 3: Underperforming Companies - Several companies in the chemical sector are facing challenges, with Vanadium Titanium Co. predicting a loss of 180 million to 220 million yuan due to falling prices of vanadium and titanium products [5]. - Snack company Laiyifen expects a loss of 47 million to 70 million yuan, attributing this to adjustments in store types and structures amid changing consumer trends [5]. - Central Plaza, a retail company, anticipates a loss of 7 million to 10.5 million yuan, primarily due to declining sales in traditional retail channels [6].

07月16日，邮储银行拟出资百亿设立金融资产投资子公司；精工钢构中标沙特世界杯场馆项目，斩获 5.5亿元钢结构大单；全球知名消费电子品牌安克创新谋求国际化，正研究论证赴港融资。 以下是盘后公告精选：邮储银行：拟出资100亿元发起设立中邮金融资产投资有限公司 太极集团公告，拟以集中竞价交易方式回购公司股份，回购金额不低于8000万元且不超过1.2亿元，回 购价格不超过28.03元/股。回购股份将全部用于注销并减少公司注册资本。预计回购股份数量为285.41 万股-428.11万股，占公司总股本的0.51%-0.77%。广生堂：乙肝治疗一类创新药GST-HG131被药审中心 纳入突破性治疗品种名单并不代表能获批上市 邮储银行公告，中国邮政储蓄银行股份有限公司拟出资人民币100亿元发起设立中邮金融资产投资有限 公司，该公司将作为本行全资一级子公司管理，具体业务范围以有关监管机构批复为准。中邮投资将严 格遵循各项法律法规及监管规定，建立完善的公司治理结构，在做好风险管理基础上开展各项业务。精 工钢构：签约沙特5.5亿元吉达体育场及周边体育村项目项目将用于足球世界杯赛事 精工钢构晚间公告，近日，公司成功签约了沙特吉达体 ...

7月14日，和讯投顾刘金锁称，今天市场仍是严重分化局面。从涨跌幅榜看，涨停72只，跌停18家；涨 幅超5%的有152只，跌幅超5%的有68只。这组数据表明，个股两极分化，但多数个股涨跌幅度有限， 市场分化较为严重。上周指数逼近3555.22点时，理论上应出现风格切换，比如卖出底部票，买入权重 股。有人反映，一换仓到大盘股，大盘就调整。这说明当前若随意切换，仍是急功近利、想抓住每次短 线波动机会的表现，这实际上很难做到，不可能抓住每一波上涨。所以现阶段大家还是要坚定按自己的 策略操作。现在建议大家别随便切换仓位，尤其是前期没怎么涨的票，一旦大盘股调整，这些票就可能 轮动上涨。这两天有个细节，今天是14号，有一批半年报业绩预披露，这些票明天才会表现，今天盘面 表现的是周末预披露的。明天15号是最后一批预披露，16号还会有一天表现，之后将有一个月的空窗 期，即7月16号到8月15号左右，期间主力可能不会围绕业绩预披露展开行情。不过8月15号以后，随着 半年报正式披露，市场可能又会有主力带个股业绩节奏，这是每年大概的节奏。我们要熟悉这种节奏， 即便底部区域出现业绩不佳、利空导致业绩下滑的个股，今天也有大阳线拉升的情况 ...

Group 1 - The A-share market is currently experiencing a rapid rotation phase, with increased volatility expected due to the upcoming half-year report disclosures and uncertainties surrounding US tariff negotiations [1] - Market sentiment is generally improving, supported by various policies, which may lead to a new stable state for the market [1] - The funding environment for A-shares is expected to remain stable and positive in the long term, with valuations still relatively low compared to mature overseas markets, indicating a higher investment cost-performance ratio [1] Group 2 - The A-share market has shown a strong oscillating trend recently, but trading volume has decreased, raising concerns about the sustainability of the rebound [2] - The market is approaching the upper limit of the oscillation range since the "9.24" market, and without clear turning points in economic fundamentals, liquidity, or policy, the index may remain in a volatile range in the short term [2] - The upcoming half-year report season is expected to reveal varying performance among sectors, with some lacking earnings support potentially facing downward pressure [1][2]