内容概况：电动扭扭车是一种基于动态平衡原理的智能个人出行工具。相较于传统的手动扭扭车，电动 扭扭车加入了先进的电动驱动系统与精密的传感技术，用户可以通过身体的轻微倾斜和转向动作来操控 车辆前进、后退、转弯以及停止。随着生产技术逐渐进步，电动扭扭车种类逐渐增多，由于电动扭扭车 具有特殊的机械结构和先进的控制技术，与传统交通工具相比具有携带方便、驾驶简便、旋转灵活及绿 色环保等诸多优势，既方便了短途出行，又解决了微交通痛点问题，与公交系统、停车场、住家、办公 区接驳成为完整的循环交通链条，有效缓解交通压力的同时也实现了绿色出行的倡导。当前，随着城市 化进程的加速和人们对出行品质的要求提高，电动扭扭车市场需求不断增长，行业内生产商持续扩大产 能，提升产品供应能力。据统计，中国电动扭扭车行业市场规模从2018年的164.4亿元增长至2024年的 367亿元，年复合增长率为14.32%。随着技术的进步和市场需求的增长，未来电动扭扭车将在产品设 计、续航里程、智能化程度等方面继续提升，为用户提供更加优质、个性化的出行体验。 相关上市企业：九号公司（689009）、中国神华（601088）、天茂集团（000627）、金发科 ...

Core Viewpoint - The announcement by Giant Star Technology Co., Ltd. regarding a procurement confirmation from a major international retail company signifies a substantial growth opportunity for the company in the electric tools market, particularly in the global supply chain context [1][2]. Group 1: Procurement Details - The order involves a series of 20V cordless lithium battery electric tools and related accessories, with a total procurement amount expected to be no less than $30 million annually, which exceeds 10% of the company's projected revenue from electric tools in 2024 [1]. - This order marks the first electric tool order produced and delivered outside of China since the company began developing its electric tool product line in 2021, specifically for the U.S. market with production and delivery based in Vietnam [1]. Group 2: Global Manufacturing and Supply Chain - The order is seen as recognition of the company's global manufacturing layout, which is expected to enhance revenue share from electric tools and build confidence among global customers regarding the company's Vietnamese production base [2]. - The company has established a comprehensive global production and supply chain management system, with 23 production bases worldwide and strong partnerships with thousands of suppliers [2]. - The Southeast Asia region is highlighted for its abundant labor resources and relatively low costs, which can effectively reduce production costs and expand capacity, allowing the company to seize market opportunities [2]. Group 3: Strategic Implications - The global supply chain is undergoing a structural transformation towards resilience, and the company's overseas supply system is designed to mitigate various operational risks, ensuring stable orders and customer trust [2]. - The globalization of the supply chain enables the company to achieve "customer proximity, rapid delivery, and customized response," transitioning from traditional export models to local service and competition capabilities [2].

Group 1 - The Russian hardware tools market is expanding due to ongoing infrastructure development and manufacturing upgrades, with the ToolMash 2024 exhibition attracting over 5,600 professional visitors, 22% of whom have procurement budgets exceeding 50 million rubles [1][8] - The audience composition includes 24.3% wholesalers, 18.1% construction and renovation professionals, and 13.6% retailers, with 60% of attendees from small and medium-sized enterprises [1][8] - The exhibition will be held alongside the Woodex exhibition in December 2025, creating synergistic opportunities for increased business engagement [1][11] Group 2 - High-budget buyers, defined as those with procurement budgets over 50 million rubles, represent a significant segment of the audience, indicating strong purchasing intent [3][8] - Key companies represented among the attendees include Rosneft, Aeroflot, and EVRAZ STEEL, highlighting the diverse industrial interest in the hardware tools sector [8][10] - The interest in specific product categories shows that electric tools (22.1%), hand tools (19.3%), and storage systems (13.6%) are the most sought after, with a notable increase in demand for automotive repair tools and gardening equipment [8][10] Group 3 - ToolMash utilizes digital tools to enhance exhibition efficiency, including a LeadScanning feature that streamlines contact information exchange and data management for exhibitors [10] - The upcoming ToolMash 2025 aims to leverage the collaboration with Woodex to attract a broader audience, with Woodex having previously drawn over 8,000 industry professionals [11] - The integration of these two exhibitions is expected to significantly expand the potential customer base and influence purchasing decisions among professionals [11]

巨星科技 2025 年上半年业绩如何？有哪些主要影响因素？ 巨星科技 2025 年上半年销售收入预计较去年有所增长，但第二季度受到美国 对等关税的冲击，导致公司各生产基地产能受到不同程度的负面影响。中国地 区受影响较大，越南、柬埔寨和泰国也短期受到关税冲击，客户订单有所暂缓 执行和冻结。因此，公司进行了产能调整以保证后续供应，这对整体业绩产生 一定负面影响。尽管如此，二季度收入仍与去年同期基本持平在 34 亿元左右。 归属于上市公司股东的净利润预计增长 5%到 15%，下限 12.5 亿，上限 13.7 亿；扣非净利润下限 12.6 亿，上限 13.8 亿，同比增长也是 5%到 15%。 2024 年和 2025 年二季度巨星科技的经营性利润情况如何？ 2024 年一季度和二季度的收入规模与 2025 年二季度差距不大，但由于今年 二季度受到贸易影响，对等关税导致产能问题。在相同收入情况下，经营性利 美国房地产市场处于历史底部，房屋换手需求减少，压缩工具消费，但 房屋维修维护需求平稳增长，预计今年行业增长 4%左右，需关注企业 自身能力成长及新产品带来的市场份额提升。 公司对未来三年电动工具业务收入达到 10 ...

Investment Rating - The investment rating for the company is "Buy" [1] Core Views - The company has reported better-than-expected performance, with a forecasted revenue of 7.05 billion yuan for the first half of 2025, representing a year-on-year growth of 5.2%. The net profit attributable to shareholders is expected to be between 1.25 billion and 1.37 billion yuan, reflecting a growth of 5% to 15% [1][2] - The impact of tariff changes has been mitigated, and the company is expected to return to a stable growth trajectory due to its global production capacity layout, new product launches in electric tools, and innovations in cross-border e-commerce channels [1][2] Summary by Sections Financial Performance - For Q2 2025, the company anticipates revenue of 3.4 billion yuan, with net profit attributable to shareholders expected to be between 790 million and 910 million yuan, indicating a year-on-year growth of 1.6% to 16.9% [1][2] - The company’s gross margin continues to improve, driven by price increases in the downstream markets and increased sales of new products, particularly electric tools [2] Tariff and Global Strategy - The company faced significant operational disruptions due to U.S. tariff policy changes, with approximately 40 days of order delivery being affected in Q2. However, the company has successfully adjusted prices and increased overseas shipments to maintain revenue stability [2] - The uncertainty surrounding tariffs is diminishing, with a new agreement reached between Vietnam and the U.S. regarding a 20% tariff, allowing the company to accelerate its production capacity in Southeast Asia [2] Market Outlook - The report suggests that the current low point in industry prosperity may soon reverse, as the impacts of tariff friction are gradually fading. The company is well-positioned to gain market share due to its integrated global operations and cost advantages [3] - Profit forecasts for the company indicate a net profit of 2.8 billion yuan in 2025, growing to 3.92 billion yuan by 2027, with corresponding PE ratios of 11.5X, 9.5X, and 8.2X for the years 2025, 2026, and 2027 respectively [3]

目 录 苏州新锐合金工具股份有限公司 苏州新锐合金工具股份有限公司 章 程 二零二五年七月 章 程 第一章 总 则 第一条 为维护公司、股东和债权人的合法权益，规范公司的组织和行为， 根据《中华人民共和国公司法》（以下简称"《公司法》"）、《中华人民共和国证 券法》（以下简称"《证券法》"）、《上市公司章程指引》等法律法规及规范性文 件的有关规定，制订本章程。 第二条 公司系依照《公司法》和其他有关规定成立的股份有限公司（以下 简称"公司"）。 公司由苏州新锐工程工具有限公司依法以整体变更方式设立，并在江苏省工 商行政管理局注册登记并取得营业执照。 第三条 公司于 2021 年 8 月 24 日经中华人民共和国证券监督管理委员会 （以 下简称为"中国证监会"）注册，首次公开发行人民币普通股 2,320 万股，股票于 第四条 公司中文名称：苏州新锐合金工具股份有限公司 公司英文名称：SHAREATE TOOLS LTD 第五条 公司住所：苏州工业园区唯亭镇双马街 133 号，邮编 215121。 第六条 公司注册资本为人民币 25,240.8504 万元。 第七条 公司为永久存续的股份有限公司。 第八条 董事长 ...

巨星科技（002444）公告，公司近日取得某国际大型零售业公司G公司的采购确认，采购标的为20V无 绳锂电池电动工具系列和相关零配件，采购范围为全球数千家门店的未来三年全部该系列电动工具和零 配件产品的销售和服务，采购订单特别要求针对美国市场产品的生产和交付地为越南。预计订单整体采 购金额为每年不少于3000万美元，超过公司2024年电动工具产品收入的10%。截至本公告披露日，确认 已经生效，产品将于2025年下半年开始交付客户。预计2025年相关产品收入不超过2000万美元。 ...

今年以来的中美贸易摩擦，给我国外贸企业带来了巨大挑战。面对复杂多变的形势，外贸企业如何调整 生产节奏、应对订单变化？如何积极拓展新市场、提升产品附加值？经济日报记者奔赴浙江等外贸大 省，实地采访调研，观察我国外贸企业在风浪中坚守，凭借实力向上生长、向新而生的韧性与智慧。 5月12日发布的《中美日内瓦经贸会谈联合声明》成为二季度浙江外贸企业对美业务的分水岭。 之前一个多月的停顿、观望和小批量生产，立刻被全力恢复生产、物流飞速运转、洽谈新单取代。记者 在采访中看到，面对从暂停键到快进键的戏剧性变化，浙江外贸企业一边根据订单变化调整生产节奏， 一边拓展新市场、提升附加值，普遍表现出任凭风吹浪打、我自岿然不动的沉着与有序。 见惯风雨沉着坚守 5月16日8时30分，距离义乌国际商贸城二区开门营业还有一个小时。一堂特殊的西班牙语培训课在商贸 城一楼的"外语晨练基地"准时开始。 "你要订购多少个？""有最少起订量吗？""数量越多，价格越低……"老练的义乌商户变身专注的学生， 站在这个没有课桌椅的免费课堂里跟着老师大声朗读。培训内容来自做生意的高频使用场景，很接地 气，受到商户一致欢迎。 当天是西班牙语老师罗丽的教学首秀。罗 ...

社会服务 社会服务 2025 年 07 月 06 日 投资评级：看好（维持） ——行业周报 | | | | | 初敏（分析师） 李睿娴（分析师） 程婧雅（联系人） | | | | --- | --- | --- | --- | --- | --- | --- | | 社会服务 | | | 沪深300 | chumin@kysec.cn | liruixian@kysec.cn chengjingya@kysec.cn | | | 58% | | | | 证书编号：S0790522080008 | 证书编号：S0790525020004 证书编号：S0790123070033 | | | 43% | | |  | | 旅游/潮玩：暑期国内主题乐园预订热度高增，三丽鸥角色大赏排名出炉 | | | 29% | | | | 根据去哪儿，2025 | 年暑期国内主题乐园订单量同比增长七成，其中北京环球影城、 | | | 14% | | | | 上海迪士尼乐园等全球 | 巨头延续亮眼表现，暑期周边酒店及民宿预订量同比增 IP | | | 0% | | | | 长约四成。特色本土 | IP 乐园凭借消费热点翻红，其中泡泡 ...

波动中布局成长确定性，出口链叙事逻辑渐明 [Table_Industry] 轻工制造 [Table_ReportDate] 2025 年 7 月 6 日 | 轻工制造 | [Table_StockAndRank] | | --- | --- | | 投资评级 | 看好 | | 上次评级 | 看好 | 姜文镪 新消费行业首席分析师 执业编号：S1500524120004 邮箱：jiangwenqiang@cindasc.com [Table_Title] 波动中布局成长确定性，出口链叙事逻辑渐 明 [Table_ReportDate] 2025 年 07 月 06 日 本期内容提要: [造纸：木片收购价上移，浆纸全线企稳；仙鹤发力竹浆，成长逻辑延续。 Table_Summary] 根据 Fastmarkets，南美漂阔浆评估价格依旧维持在 500-510 美元/吨，尽 管部分买家持续压价，但浆厂挺市态度强硬；部分浆纸企业阔叶木片收购 价自 6 月中下旬已涨 90 元/绝干吨，制浆成本持续提升。我们认为当前海 外浆价已逼近国内浆厂成本线，Q3 价格有望触底回暖。纸价方面，本周各 个纸种价格全线启稳，其中包装纸规模 ...