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伟星股份(002003) - 2025年8月25日投资者关系活动记录表
2025-08-27 07:38
证券代码:002003 证券简称:伟星股份 浙江伟星实业发展股份有限公司 投资者关系活动记录表 编号:2025-024 | | □特定对象调研 □分析师会议 | | --- | --- | | 投资者关系活动 | □媒体采访 □业绩说明会 | | 类别 | □新闻发布会 □路演活动 | | | □现场参观 √其他:电话会议 | | | 易方达基金:郭杰、周光远;泰康资产:陈怡;华安基金:马丁、张峦;汇添富 | | | 基金:劳杰男;石锋资产:徐玉露、崔红建;台州市资管:李亚雄;兴全基金: | | | 伍修毅;交银施罗德基金:韩威俊、高逸云;鹏扬基金:吴西燕;人保资产:李 | | | 晴;睿远基金:檀廷钰;中欧基金:吉翔、刘占洋;申万宏源:王立平、求佳峰、 | | | 赵玥;国泰海通:盛开、曹冬青;Janchor Partners:李拓;Lazard Asset:Fisher | | | Xi;大家资产:钱怡;比立弗投资:李文;长城基金:柴程森;长江证券:柯睿; | | | 长信基金:刘亮;晨燕资管:倪耿皓、李树荣;东方阿尔法基金:钱文静;东方 | | | 财富证券:金叶羽;东方基金:梁忻;东方证券:施红梅、殷 ...
华源证券给予伟星股份买入评级,拉链主业增长稳健,全球化战略布局成果初现
Sou Hu Cai Jing· 2025-08-26 09:32
每经头条(nbdtoutiao)——能给主人"打电话"的宠物智能手机也来了!宠物产业3000亿元市场大爆 发,行业上市公司"涨"声一片 (记者 胡玲) 免责声明:本文内容与数据仅供参考,不构成投资建议,使用前请核实。据此操作,风险自担。 每日经济新闻 每经AI快讯,华源证券8月25日发布研报称,给予伟星股份(002003.SZ,最新价:11.3元)买入评级。 评级理由主要包括:1)外部环境扰动下公司25H1营收同比+1.80%;2)分产品看,拉链主业稳健,其 他服饰辅料业务快速增长;3)分地区看,国际地区营收占比及毛利率同比均提升。风险提示:消费者 消费意愿修复不及预期风险;国际关税政策变动风险;全球经济下行风险。 ...
伟星股份(002003):Q2需求扰动致业绩下滑,越南工业园加快爬坡
EBSCN· 2025-08-26 01:52
2025 年 8 月 26 日 公司研究 Q2 需求扰动致业绩下滑,越南工业园加快爬坡 ——伟星股份(002003.SZ)2025 年中报点评 买入(维持) 当前价:11.18 元 作者 分析师:姜浩 执业证书编号:S0930522010001 021-52523680 jianghao@ebscn.com 分析师:孙未未 执业证书编号:S0930517080001 021-52523672 sunww@ebscn.com 分析师:朱洁宇 执业证书编号:S0930523070004 021-52523842 zhujieyu@ebscn.com 单季度收入保持双位数增长,Q3 费用计提 带来阶段性影响——伟星股份(002003.SZ) 2024 年三季报点评(2024-10-29) 要点 事件: 市场数据 | 总股本(亿股) | 11.69 | | --- | --- | | 总市值(亿元): | 130.68 | | 一年最低/最高(元): | 10.14/14.89 | | 近 3 月换手率: | 38.74% | 股价相对走势 -14% -2% 9% 21% 32% 08/24 11/24 02/25 ...
伟星股份(002003):25Q2费用率拖累短期业绩 长期成长趋势延续
Xin Lang Cai Jing· 2025-08-25 06:35
纽扣及拉链毛利率均持续提升,越南工厂投产及汇兑损失等因素导致费用率增加拖累净利率。 公司25Q2 收入同比-9.18%,归母净利润同比-20.40%。纽扣及拉链毛利率均持续提升,越南工厂投产及 汇兑损失等因素导致费用率增加拖累净利率。随着越南工厂的爬坡,全球化布局长期成长趋势延续。预 计25-27 年公司归母净利润分别为7.0 亿元、7.7 亿元、8.9 亿元,当前市值对应25PE19X,26PE17X,维 持强烈推荐评级。 国内外需求疲软,Q2 收入&利润承压。1)25H1: 公司营收23.38 亿元,同比+1.80%;归母净利润3.69 亿元,同比-11.19%;扣非净利润3.62 亿元,同比-9.71%。公司拟派发现金红利每10 股1 元(含税), 占中期利润31.64%。 2)25Q2: 营收13.59 亿元,同比-9.18%;归母净利润2.69 亿元,同比-20.40%;扣非净利润2.64 亿元, 同比-18.81%。 上半年拉链及其他辅料收入保持增长,海外表现好于国内。 1)分产品:25H1 拉链收入同比+2.68%至12.93 亿元,钮扣收入同比-0.17%至9.26 亿元,其他服饰辅料 收入同 ...
伟星股份(002003)2025年中报简析:增收不增利,公司应收账款体量较大
Zheng Quan Zhi Xing· 2025-08-25 01:13
Core Viewpoint - The recent financial report of Weixing Co., Ltd. shows a mixed performance with a slight increase in revenue but a significant decline in net profit, indicating potential challenges in the company's operational efficiency and market conditions [1][2]. Financial Performance - The total revenue for the first half of 2025 reached 2.338 billion yuan, a year-on-year increase of 1.8% [1]. - The net profit attributable to shareholders was 369 million yuan, down 11.19% year-on-year [1]. - In Q2 2025, revenue was 1.359 billion yuan, a decrease of 9.18% compared to the same quarter last year [1]. - The gross profit margin improved to 42.89%, up 2.6% year-on-year, while the net profit margin decreased to 15.95%, down 12.68% year-on-year [1]. - Total expenses (selling, administrative, and financial) amounted to 466 million yuan, representing 19.92% of revenue, an increase of 21.04% year-on-year [1]. Accounts Receivable and Cash Flow - Accounts receivable accounted for 85.96% of the latest annual net profit, indicating a significant amount of outstanding payments [1]. - The company reported a cash flow from operations of 0.37 yuan per share, an increase of 10.47% year-on-year [1]. Market and Industry Outlook - The company is cautious about short-term performance due to uncertainties from tariff policies and weak end-consumer demand in the apparel sector [6][7]. - In the medium to long term, the company aims to focus on its core business of fashion accessories, enhancing brand influence and product competitiveness [7]. - The company anticipates a stable profit margin in the future, relying on revenue growth from new projects and production capacity [9]. Investment and Capital Expenditure - The company plans to be prudent with capital expenditures, especially in light of the uncertain international trade environment, while still pursuing necessary upgrades and expansions [11][12]. - The company’s overseas production bases, particularly in Bangladesh and Vietnam, are expected to enhance operational efficiency and meet customer demands [12][13]. Shareholder Engagement - The company maintains a high dividend payout ratio, averaging around 80% since its listing, reflecting its commitment to shareholder returns [13].
伟星股份(002003):费用先行投入暂压制利润表现,产能加码保障成长性
2025 年 08 月 24 日 伟星股份 (002003) ——费用先行投入暂压制利润表现,产能加码保障成长性 报告原因:有业绩公布需要点评 买入(维持) | 市场数据: | 2025 年 08 月 22 日 | | --- | --- | | 收盘价(元) | 11.45 | | 一年内最高/最低(元) | 15.28/10.41 | | 市净率 | 3.0 | | 股息率%(分红/股价) | 4.37 | | 流通 A 股市值(百万元) | 11,640 | | 上证指数/深证成指 | 3,825.76/12,166.06 | | 注:"股息率"以最近一年已公布分红计算 | | 上 市 公 司 纺织服饰 | 基础数据: | 2025 年 06 月 30 日 | | | --- | --- | --- | | 每股净资产(元) | | 3.76 | | 资产负债率% | | 36.14 | | 总股本/流通 A 股(百万) | | 1,169/1,017 | | 流通 B 股/H 股(百万) | | -/- | 年内股价与大盘对比走势: 08-22 09-22 10-22 11-22 12-22 01-2 ...
伟星股份(002003):短期经营表现波动 关注公司长期全球份额提升进度
Xin Lang Cai Jing· 2025-08-24 10:32
公司2025H1 营收增长1.8%,归母净利润下降11.2%,短期接单较弱。公司2025H1 营收同比增长1.8%至 23.4 亿元,毛利率同比提升1.1pcts 至42.9%,销售费用率同比提升0.8pcts 至8.8%,管理费用率同比提升 0.9pcts 至10%,综合考虑期内的汇兑损失后(2025H1 汇兑净损失1041 万元,2024H1 汇兑净收益1353 万元),公司上半年归母净利率同比下降2.3pcts 至15.8%,归母净利润同比下降11.2%至3.7 亿元,扣非 后归母净利润同比下降9.71%至3.6 亿元。分红方面,上半年公司拟每10 股派发现金股利1 元,股利支 付率为32%(2024H1 为56%)。 单Q2 来看,公司营收同比下降9.2%至13.6 亿元,归母净利润同比下降20.4%至2.69 亿元,扣非后归母 净利润同比下降18.81%至2.64 亿元,Q2公司接单情况较弱,同时汇兑损失也对公司业绩造成负面压 力。 展望2025 年,我们预计公司归母净利润下降4.4%。上半年由于公司接单较弱导致基本面承压,综合考 虑消费环境的不确定性,我们预计公司2025 年收入增长3.8%至48 ...
伟星股份2025年中报简析:增收不增利,公司应收账款体量较大
Zheng Quan Zhi Xing· 2025-08-23 22:57
据证券之星公开数据整理,近期伟星股份(002003)发布2025年中报。截至本报告期末,公司营业总收入 23.38亿元,同比上升1.8%,归母净利润3.69亿元,同比下降11.19%。按单季度数据看,第二季度营业 总收入13.59亿元,同比下降9.18%,第二季度归母净利润2.69亿元,同比下降20.4%。本报告期伟星股 份公司应收账款体量较大,当期应收账款占最新年报归母净利润比达85.96%。 证券之星价投圈财报分析工具显示:业务评价:公司去年的ROIC为13.74%,资本回报率强。去年的净 利率为15.12%,算上全部成本后,公司产品或服务的附加值高。从历史年报数据统计来看,公司近10 年来中位数ROIC为13.81%,中位投资回报一般,其中最惨年份2019年的ROIC为10.51%,投资回报也较 好。公司历史上的财报相对良好。 财报体检工具显示:建议关注公司现金流状况(货币资金/流动负债仅为79.54%)建议关注公司债务状况 (有息资产负债率已达20.29%)建议关注公司应收账款状况(应收账款/利润已达85.96%) 分析师工具显示:证券研究员普遍预期2025年业绩在7.71亿元,每股收益均值在0.66 ...
伟星股份: 2025年半年度报告
Zheng Quan Zhi Xing· 2025-08-22 16:36
证券代码:002003 证券简称:伟星股份 公告编号:2025-041 浙江伟星实业发展股份有限公司 2025 年半年度报告全文 公司董事会及董事、高级管理人员保证半年度报告内容的真实、准确、完整,不存在 虚假记载、误导性陈述或者重大遗漏,并承担个别和连带的法律责任。 公司负责人蔡礼永先生、主管会计工作负责人沈利勇先生及会计机构负责人林娜女士 声明:保证本半年度报告中财务报告的真实、准确、完整。 除下列董事外,其他董事亲自出席了审议本次半年报的董事会会议 未亲自出席董事姓名 未亲自出席董事职务 未亲自出席会议原因 被委托人姓名 张莉 独立董事 工作原因 张永炬 公司需遵守《深圳证券交易所上市公司自律监管指引第 3 号——行业信息披露》中的 "纺织服装相关业务"的披露要求。 境不确定性增加和生产要素成本持续上升等风险,已在本报告"第三节 管理层讨论与分析" 之"十一、公司面临的风险和应对措施"进行了具体阐述,敬请广大投资者查阅并注意投 资风险。 公司经本次董事会审议通过的利润分配预案为:以总股本 1,168,889,653 股为基数, 向全体股东每 10 股派发现金红利 1.00 元(含税),送红股 0 股(含 ...
伟星股份(002003) - 2025年7月21日投资者关系活动记录表
2025-07-23 01:02
Group 1: Company Performance and Market Conditions - The company faced pressure in Q2 2025 due to uncertainties from tariff policies and weak end-consumer demand, leading to cautious order intake [2] - The company maintains a prudent short-term outlook but aims to focus on its core business of fashion accessories and enhance brand influence and product competitiveness in the long term [2] - The company’s top five customers accounted for 9.04% of total sales in 2024, indicating a low customer concentration [3] Group 2: Competitive Positioning - The company differentiates itself from YKK through a "product + service" business model, emphasizing quality products and comprehensive service, while YKK relies on brand recognition and global operational capabilities [4] - The company has developed strong competitive advantages in product diversity, fashionability, innovation, and supporting capabilities, which are increasingly demanded by downstream apparel brands [4] Group 3: Sales and Pricing Strategy - The company employs a direct sales model through subsidiaries and offices, selling to global apparel brands and their designated factories [5] - While product prices are a consideration for downstream clients, factors such as product development capabilities, delivery times, and service quality are more critical in supplier selection [5] Group 4: Profitability and Investment Outlook - The company has achieved strong operational results through innovation and smart manufacturing, but future profitability will depend on revenue growth from new production capacities [6] - The company plans to be cautious with capital expenditures due to uncertainties in trade policies and will prioritize risk control in investment decisions [7] Group 5: Dividend and Incentive Policies - The company has maintained an average dividend payout ratio of around 80% since its listing, reflecting its commitment to sustainable development and shareholder returns [7] - There are no current substantial plans for a new equity incentive program, but the company may consider it at an appropriate time in the future [7] Group 6: Talent Development - The company is focused on strengthening its talent pipeline through various training programs and mentorship initiatives to enhance employee skills and support sustainable development [7]