Investment Rating - The report assigns a "Buy-A" rating to the company, indicating a positive outlook for its stock performance in the coming months [1][7]. Core Insights - The company has achieved international leadership in AI slag removal technology, with continuous high growth in special equipment for thermal power [4][5]. - The recent certification of the intelligent operation and maintenance technology for slag removal equipment enhances the company's innovation and R&D capabilities, supporting its market expansion [6]. - The company expects significant revenue growth in H1 2025, with projected revenue between 900 million to 1.25 billion yuan, reflecting a year-on-year increase of 75.1% to 143.2% [6]. Financial Data and Valuation - The company’s projected earnings per share (EPS) for 2025, 2026, and 2027 are 1.78 yuan, 2.31 yuan, and 2.98 yuan respectively, with corresponding price-to-earnings (P/E) ratios of 15.5, 11.9, and 9.3 [7][10]. - Revenue forecasts for the years 2023 to 2027 are 1.029 billion yuan, 1.314 billion yuan, 1.947 billion yuan, 2.493 billion yuan, and 2.977 billion yuan, with year-on-year growth rates of 35.0%, 27.7%, 48.2%, 28.0%, and 19.4% respectively [10][11]. - The net profit for the same period is projected to be 87 million yuan, 93 million yuan, 219 million yuan, 285 million yuan, and 366 million yuan, with year-on-year growth rates of 48.0%, 7.3%, 135.6%, 29.9%, and 28.8% respectively [10][11].

Investment Rating - The report maintains a "Strong Buy" rating for the company, expecting it to outperform the benchmark index by over 20% in the next six months [1][16]. Core Views - The company is projected to achieve a net profit attributable to shareholders of 225 to 260 million yuan for the first half of 2025, representing a year-on-year increase of 115.36% to 148.86%. The net profit after deducting non-recurring items is expected to be between 223 to 258 million yuan, reflecting a year-on-year growth of 154.59% to 194.64% [1]. - The company has successfully optimized its delivery capacity through the production of fundraising projects, leading to significant improvements in profitability. The overseas projects are progressing smoothly, contributing to a robust revenue growth [7]. - The company has maintained a high level of new orders, with the total new signed orders for 2022, 2023, and 2024 being approximately 3.775 billion, 4.1 billion, and 4 billion yuan respectively, indicating strong future revenue and profit support [7]. Financial Summary - Total revenue is projected to grow from 2,419 million yuan in 2024 to 2,937 million yuan in 2025, reflecting a year-on-year growth rate of 21.4% [3]. - The net profit attributable to shareholders is expected to increase from 261 million yuan in 2024 to 389 million yuan in 2025, with a growth rate of 48.9% [3]. - Earnings per share (EPS) are forecasted to rise from 1.63 yuan in 2024 to 2.43 yuan in 2025 [3]. Market Position and Competitive Advantage - The company has made significant breakthroughs in the petrochemical industry, securing several large-scale air separation unit orders, which enhances its competitive edge in high-end product markets [7]. - The company has strategically expanded into overseas markets, with overseas revenue accounting for 42.4% and 39.1% in 2023 and 2024 respectively, significantly higher than the industry average [7]. - The company is positioned as a leading enterprise in the air separation equipment industry, combining high-quality German standards with local business practices, which is expected to drive future growth [7].

2025 年 07 月 13 日 欧克科技(001223.SZ) Q2 业绩增速靓丽，新业务持续拓展 事件：欧克科技发布 2025 年半年度业绩预告。2025H1 公司预 计实现营收 3.58-3.98 亿元，同比增长 67.42%-86.02%；归母净 利润为 0.68-0.73 亿元，同比增长 51.24%-61.66%；扣非归母净 利润为 0.62-0.67 亿元，同比增长 93.83%-108.47%。其中，2025Q2 公司预计实现营收 1.59-1.99 亿元，同比增长 79.46%-124.35%； 归母净利润为 0.27-0.32 亿元，同比增长 116.38%-153.28%；扣 非归母净利润为 0.26-0.31 亿元，同比增长 109.79%-147.47%。 生活用纸设备订单顺利交付、海外开拓，驱动业绩增长。 预计 25H1 生活用纸设备业务实现快速增长，24 年底推出的全自动底 部抽纸巾生产线获市场认可，25Q1 订单金额达 3.1 亿元。25Q2 公司 加大对生活用纸智能装备订单的生产产能，有序开展对前期已公告订 单的交付事项。同时海外销售情况良好，订单规模同比持续增长，东 南亚、 ...

个股表现方面，热景生物上涨20.00%，涨幅居首；信宇人下跌12.03%，跌幅居首。 成交额方面，寒武纪成交额31.12亿元，位居首位；仁度生物成交额805.68万元，位居末位。 换手率方面，信宇人换手率为27.05%，位居首位；龙腾光电及威胜信息换手率均为0.20%，同居末位。 （文章来源：新华财经） 科创50指数7月4日早间微幅低开，指数盘初震荡下行，跌约0.7%后开始逐步反弹，午后翻红并有快速 拉升，但涨逾1.2%后震荡回落，尾盘在上一交易日收盘点位附近窄幅整理，收盘时微幅下跌。至收盘 时，科创50指数报984.80点，跌幅0.02%，指数振幅为2.09%，总成交额约245亿元。 4日，科创综指盘初震荡下跌，跌约1%后开始波动反弹，午后一度涨近0.95%，随后持续调整，收盘时 下跌0.33%，收于1215.29点，总成交额约1024亿元，总成交额放量。 当日，科创板近八成股票收跌。部分创新药相关股延续强势表现，热景生物、汇宇制药、神州细胞、荣 昌生物、上海谊众、前沿生物等大幅上涨；拓荆科技、思特威、峰岹科技等少数半导体股出现显著上 涨。信宇人、晶品特装、华曙高科等专用机械股跌幅靠前。 经新华财经统计，7 ...

Group 1 - The Shanghai Composite Index opened lower and the CSI 300 Machinery Manufacturing Index reported at 5816.79 points [1] - The CSI 300 Machinery Manufacturing Index has decreased by 0.21% in the past month, 5.59% in the past three months, and increased by 1.11% year-to-date [1] - The CSI 300 Index is categorized into 11 primary industries, 35 secondary industries, over 90 tertiary industries, and more than 200 quaternary industries [1] Group 2 - The top ten weighted stocks in the CSI 300 Machinery Manufacturing Index are: Huichuan Technology (18.05%), Sany Heavy Industry (13.92%), CRRC Corporation (11.06%), Weichai Power (10.23%), China Shipbuilding (8.73%), XCMG (8.66%), China Heavy Industry (6.25%), Hengli Hydraulic (4.67%), Zoomlion (4.48%), and Yutong Bus (4.1%) [1] - The market share of the CSI 300 Machinery Manufacturing Index is 54.88% from the Shanghai Stock Exchange and 45.12% from the Shenzhen Stock Exchange [1] Group 3 - The industry composition of the CSI 300 Machinery Manufacturing Index includes: Engineering Machinery (27.07%), Electric Motors and Industrial Control Automation (18.05%), Shipbuilding and Other Marine Equipment (18.04%), Commercial Vehicles (15.21%), Urban Rail and Railways (14.16%), Fluid Machinery (4.67%), and Other Specialized Machinery (2.80%) [2] - The index sample is adjusted every six months, with adjustments implemented on the next trading day after the second Friday of June and December each year [2] - Weight factors are generally fixed until the next scheduled adjustment, with temporary adjustments made in response to changes in the CSI 300 Index samples [2]

新华财经北京5月22日电（罗浩）科创50指数5月22日早间小幅低开，指数盘初震荡上扬，涨近0.5%后 开始调整，午间收盘时基本走平，午后延续调整态势，收盘时下跌。至收盘时，科创50指数报990.71 点，跌幅0.48%，指数振幅为1.14%，总成交额约164.4亿元。 个股表现方面，三生国健上涨20.00%，涨幅居首；信宇人下跌6.38%，跌幅居首。 成交额方面，寒武纪成交额19.68亿元，位居首位；丛麟科技成交额858.89万元，位居末位。 换手率方面，汉邦科技换手率为49.24%，位居首位；华润微换手率为0.12%，位居末位。 （文章来源：新华财经） 22日，科创综指盘初冲高后震荡下行，早间期间最高涨约0.65%，尾盘最低跌约0.73%，收盘时跌 0.61%，收于1167.89点，总成交额约747.6亿元，成交额小幅放量。 伴随指数调整，科创板当日近八成个股下跌。市场活跃度也有所下降，经新华财经统计，5月22日创下 2025年以来新高、30个交易日新高、20个交易日新高的科创板股票家数分别为18只、44只、49只，上一 交易日相关数据分别为29只、77只，89只。 细分领域方面，少数医药股延续活跃态势，三 ...

Investment Rating - The report maintains a "Recommended" rating for the company, with a target price of 22.40 CNY, compared to the current price of 21.38 CNY [4][8]. Core Insights - The company achieved a revenue of 836 million CNY in 2024, representing a year-on-year growth of 25.75%. The net profit attributable to the parent company was 43 million CNY, with a growth of 1.48%. The non-recurring net profit reached 37 million CNY, showing a significant increase of 60.72% [2][4]. - In Q1 2025, the company reported a revenue of 79.86 million CNY, marking a year-on-year increase of 51.43%, while the net profit attributable to the parent company was a loss of 0.718 million CNY, indicating a substantial narrowing of losses [2][4]. Financial Performance - The company’s main revenue sources in 2024 included: 1. Intelligent warehousing logistics systems, generating 711 million CNY, up 23.34% year-on-year. 2. Intelligent warehousing logistics equipment, generating 98 million CNY, up 35.50% year-on-year [8]. - The overall gross margin for 2024 was 23.84%, an increase of 1.19 percentage points year-on-year. The gross margin for intelligent warehousing logistics systems was 21.46%, up 0.69 percentage points, while for intelligent warehousing logistics equipment, it was 38.66%, up 5.08 percentage points [8]. Future Projections - Revenue projections for 2025-2027 are as follows: - 2025: 1,034 million CNY - 2026: 1,268 million CNY - 2027: 1,540 million CNY - The net profit attributable to the parent company is projected to be: - 2025: 56 million CNY - 2026: 63 million CNY - 2027: 71 million CNY [8][9]. Valuation Metrics - The report suggests a 35x price-to-earnings (P/E) ratio for 2025, leading to a target price of approximately 22.40 CNY. The company is expected to benefit from its leading position in the intelligent warehousing and equipment sector, driving both revenue and valuation growth [8][9].

公司研究 证 券 研 究 报 告 收入实现较快增长，产品矩阵持续丰富 目标价：22.40 元 事项： 联系人：周志浩 邮箱：zhouzhihao1@hcyjs.com 公司基本数据 近期，公司发布 2024 年度报告及 2025 年一季报，2024 年实现营业收入 8.36 亿元，同比增长 25.75%；归母净利润 0.43 亿元，同比增长 1.48%；扣非净利 润 0.37 亿元，同比增长 60.72%。2025Q1 实现营业收入 7986.44 万元，同比增 长 51.43%；实现归母净利润-71.80 万元，亏损大幅收窄。 评论： [ReportFinancialIndex] 主要财务指标 其他专用机械 2025 年 05 月 20 日 | | | | 目标价：22.40 元 | | --- | --- | --- | --- | | 井松智能（688251）2024 年报及 收入实现较快增长，产品矩阵持续丰富 | 2025 | 年一季报点评 | 推荐（维持） 元 当前价：21.38 | 华创证券研究所 证券分析师：吴鸣远 邮箱：wumingyuan@hcyjs.com 执业编号：S0360523040 ...

其他专用机械 美埃科技（688376.SH） 增持-A(首次) 下游拓展与海外布局并举，业绩有望维持增势 | 市场数据：2025 年 5 月 | 16 日 | | --- | --- | | 收盘价（元）： | 34.65 | | 年内最高/最低（元）： | 45.98/24.25 | | 流通A股/总股本（亿）： | 0.51/1.34 | | 流通 股市值（亿）： A | 17.67 | | 总市值（亿）： | 46.57 | | 基础数据：2025 | 年 | 月 | 日 | 3 | 31 | 基本每股收益(元)： | 0.33 | | --- | --- | --- | --- | --- | --- | --- | --- | | 摊薄每股收益(元)： | 0.33 | | | | | | | | 每股净资产(元)： | 14.62 | | | | | | | | 净资产收益率(%)： | 2.23 | | | | | | | 资料来源：最闻 分析师： 姚健 执业登记编码：S0760525040001 邮箱：yaojian@sxzq.com 徐风 执业登记编码：S0760519110003 邮箱：x ...

| 市场数据：2025 年 月 5 | 日 16 | | | --- | --- | --- | | 收盘价（元）： | | 34.65 | | 年内最高/最低（元）： | | 45.98/24.25 | | 流通A股/总股本（亿）： | | 0.51/1.34 | | 流通 股市值（亿）： A | | 17.67 | | 总市值（亿）： | | 46.57 | | 基础数据：2025 | 年 | 月 | 日 | 3 | 31 | 基本每股收益(元)： | 0.33 | | --- | --- | --- | --- | --- | --- | --- | --- | | 摊薄每股收益(元)： | 0.33 | | | | | | | | 每股净资产(元)： | 14.62 | | | | | | | | 净资产收益率(%)： | 2.23 | | | | | | | 其他专用机械 美埃科技（688376.SH） 增持-A(首次) 2025 年 5 月 19 日 公司研究/公司快报 资料来源：最闻 分析师： 姚健 执业登记编码：S0760525040001 邮箱：yaojian@sxzq.com 徐风 执业登 ...