证券日报网讯1月26日，真兰仪表（301303）在互动平台回答投资者提问时表示，公司主要从事燃气和 水计量产品及系统的研发、生产和销售，并布局汽车零部件的相关业务。公司产品与液冷服务器技术路 径、应用场景无直接关联，目前未涉足该领域研发或业务合作。公司会结合战略规划保持对该领域的动 态关注。 ...

Core Viewpoint - The State-owned Assets Supervision and Administration Commission (SASAC) has released the "2024 Edition of the Central Enterprises Technology Innovation Achievements Recommendation Directory" to accelerate the promotion and application of technological innovations from central enterprises, aiming to transform these innovations into productive forces more efficiently [1][5]. Group 1: Overview of Achievements - A total of 208 innovative achievements from 67 central enterprises have been included in the directory, covering seven key areas: electronic components, parts, new materials, instruments, software products, high-end equipment, and manufacturing processes [6]. - The instruments sector features 12 representative achievements, showcasing breakthroughs and industrial applications in areas such as X-ray fluorescence, infrared thermal imaging, and 3D laser scanning [6][7]. Group 2: Notable Innovations in Instruments - The Quantum Absolute Gravity Meter developed by China Aviation Industry Corporation is designed for geophysical exploration and seismic monitoring, featuring high sensitivity and compact design, making it suitable for various applications including navigation and geological surveys [9]. - The Fusion Spectroscopy Coal Quality Analyzer by State Power Investment Corporation integrates 22 patents and enables rapid, high-precision coal quality detection, significantly improving the gasification coal qualification rate from 77% to 98% [9][10]. - The Low-Altitude Safety Perception Lightweight Infrared Thermal Imager developed by AVIC is suitable for environmental monitoring and industrial safety, featuring high thermal sensitivity and low power consumption [7][10]. Group 3: Applications and Impact - The 5G Real-Time Seismic Data Acquisition System developed by Sinopec has reduced construction cycles by approximately 20% and labor costs by about 30%, demonstrating its efficiency in oil and gas exploration [10]. - The TMS T316 Digital Turbine Monitoring Instrument by Xi'an Thermal Engineering Research Institute has been applied in multiple power plants, achieving stable operation for over two years [10]. - The Vehicle-Mounted Multi-Source Data Acquisition Terminal developed by China Automotive Technology and Research Center has been applied in over 60 automotive enterprises, generating additional sales of 3.66 billion yuan [11].

真兰仪表上市发行费用总额9,863.04万元，其中华福证券有限责任公司获得保荐及承销费用7,975.85 万元。 2024年5月30日，真兰仪表上公告分红方案，每10股派息(税前)3.5元，转增4股。股权登记日为2024 年6月6日，除权除息日为2024年6月7日。 (责任编辑：何潇) 中国经济网北京1月26日讯 真兰仪表(301303.SZ)今日收报16.14元，跌幅7.82%。该股目前处于破发 状态。 真兰仪表于2023年2月20日在深交所创业板上市，公开发行的股票数量为73,000,000股，全部为公开 发行新股，发行价格为每股26.80元，保荐机构（主承销商）为华福证券有限责任公司，保荐代表人马 业青、邢耀华。 上市当日，真兰仪表开盘报33.00元，盘中最高价39.61元，为该股上市以来最高价。 真兰仪表上市募集资金总额为195,640.00万元，扣除发行费用后募集资金净额为185,776.96万元，公 司最终募集资金净额比原计划多11,981.21万元。2023年2月15日，真兰仪表发布的招股书显示，公司拟 募集资金173,795.75万元，分别用于真兰仪表科技有限公司燃气表产能扩建项目、上海真兰仪 ...

Core Viewpoint - The company, Chuan Yi Automation Co., Ltd., has reported a decline in its financial performance for the year 2025, despite growth in specific market segments [2][5]. Financial Data Summary - The company expects to achieve an operating revenue of 679,992.94 thousand yuan in 2025, representing a decrease of 10.43% compared to the previous year [5]. - The net profit attributable to shareholders is projected to be 63,055.62 thousand yuan, down 18.96% year-on-year [5]. - The net profit after deducting non-recurring gains and losses is estimated at 55,045.44 thousand yuan, reflecting a decline of 14.34% from the previous year [5]. Operational Performance and Financial Condition - The decline in revenue and profit is attributed to insufficient effective demand from domestic downstream customers and intensified competition in the instrumentation industry [6]. - In response to these challenges, the company is focusing on technological innovation and lean management while actively exploring new market segments, particularly in industries such as petrochemicals, electricity, nuclear power, metallurgy, aerospace, and water resources, where orders have seen growth [6].

Core Viewpoint - The State-owned Assets Supervision and Administration Commission (SASAC) has officially released the "2024 Central Enterprise Technology Innovation Achievement Recommendation Directory," which includes 12 cutting-edge technologies in the field of instruments and meters, aimed at accelerating the promotion and application of technological innovations from central enterprises [1][2]. Summary by Relevant Sections Overview of the Directory - The directory includes a total of 208 innovative achievements from 67 central enterprises, covering seven key areas: electronic components, parts, new materials, instruments and meters, software products, high-end equipment, and manufacturing processes [2]. Instruments and Meters Achievements - The instruments and meters sector features 12 representative achievements, showcasing breakthroughs and industrial applications in this field. Notable technologies include: - X-ray fluorescence spectroscopy by Steel Research Institute, which has won the BCEIA Gold Award and is suitable for various industries [5]. - Infrared thermal imaging technology developed by AVIC Kaimai, applicable in environmental monitoring and industrial safety [3]. - 3D laser scanning technology by Mining and Metallurgy Group, designed for mining operations and urban planning [5]. Specific Innovations - The following specific innovations were highlighted: - A compact cold atom absolute gravimeter by AVIC, designed for geophysical exploration and earthquake monitoring, noted for its high sensitivity and portability [3]. - A rapid coal quality analysis instrument by China Electronics Technology Group, which has improved gasification coal quality rates from 77% to 98% [4]. - A 5G intelligent seismic data acquisition system by Sinopec, which has reduced construction cycles by approximately 20% and labor costs by about 30% [4]. Applications and Impact - These technologies have been successfully applied in various significant projects, including national disaster prevention initiatives and major energy projects, demonstrating their practical value and potential for broader industrial applications [4][5].

中邮证券研报指出，川仪股份业绩短期承压，看好国产替代大趋势。公司预计2025年实现营业总收入68 亿元，同比下降10.43%；实现归母净利润6.31亿元，同比下降18.96%；实现扣非归母净利润5.5亿元， 同比下降14.34%。面对挑战，公司加强技术创新、精益管理的同时，深耕主体市场，积极开拓新质新 域市场，石油化工、电力、核电、冶金、航空航天、水利水务等行业订单实现增长。国机集团作为机械 工业领域的重要央企，在科研平台、产业资源、市场渠道等方面具有显著优势；而川仪股份则拥有六十 年的技术积淀和完整的产业链布局，双重叠加之下，必定产生1+1>2的效果。维持"买入"评级。 ...

Core Viewpoint - The company, Zhenlan Instrument (301303.SZ), clarified that its products are not directly related to liquid cooling server technology and that it has not engaged in research or business cooperation in this field [1]. Group 1: Company Overview - The company primarily focuses on the research, production, and sales of gas and water metering products and systems [1]. - The company is also expanding into the automotive parts sector [1]. Group 2: Market Engagement - The company has been asked about its involvement with companies like Invec, Feirongda, and Shenling Environment regarding liquid cooling server products [1]. - The company stated it will maintain dynamic attention to the liquid cooling server field in line with its strategic planning [1].

证券研究报告：机械设备 |公司点评报告 股票投资评级 买入 |维持 个股表现 2025-01 2025-04 2025-06 2025-08 2025-11 2026-01 -8% -2% 4% 10% 16% 22% 28% 34% 40% 46% 川仪股份 机械设备 资料来源：聚源，中邮证券研究所 公司基本情况 | 最新收盘价（元） | 25.23 | | --- | --- | | 总股本/流通股本（亿股）5.13 | / 5.12 | | 总市值/流通市值（亿元）129 | / 129 | | 52 周内最高/最低价 | 26.90 / 20.06 | | 资产负债率(%) | 48.0% | | 市盈率 | 16.60 | | 第一大股东 | 中国四联仪器仪表集团 | | 有限公司 | | 研究所 分析师:刘卓 SAC 登记编号:S1340522110001 Email:liuzhuo@cnpsec.com 分析师:陈基赟 SAC 登记编号:S1340524070003 Email:chenjiyun@cnpsec.com 川仪股份(603100) 业绩短期承压，看好国产替代大趋势 l 事件描述 公 ...

证券研究报告：机械设备 |公司点评报告 股票投资评级 个股表现 2025-01 2025-04 2025-06 2025-08 2025-11 2026-01 -8% -2% 4% 10% 16% 22% 28% 34% 40% 46% 川仪股份 机械设备 买入 |维持 资料来源：聚源，中邮证券研究所 公司基本情况 | 最新收盘价（元） | 25.23 | | --- | --- | | 总股本/流通股本（亿股）5.13 | / 5.12 | | 总市值/流通市值（亿元）129 | / 129 | | 52 周内最高/最低价 | 26.90 / 20.06 | | 资产负债率(%) | 48.0% | | 市盈率 | 16.60 | | 第一大股东 | 中国四联仪器仪表集团 | | 有限公司 | | 研究所 分析师:刘卓 SAC 登记编号:S1340522110001 Email:liuzhuo@cnpsec.com 分析师:陈基赟 SAC 登记编号:S1340524070003 Email:chenjiyun@cnpsec.com 川仪股份(603100) 业绩短期承压，看好国产替代大趋势 业绩短期承压，单 ...

Core Viewpoint - The performance forecasts from eight companies listed on the Beijing Stock Exchange indicate a generally positive outlook for 2025, with most companies expecting profit growth, reflecting their ability to seize market opportunities and enhance competitiveness [1][2]. Group 1: Performance Overview - Out of the eight companies, five are expected to see profit increases, with Haine Technology projecting a net profit growth of over 213.65% to 236.61% [2] - Jilin Carbon Valley anticipates a net profit of 180 million to 220 million yuan, representing a year-on-year increase of 92.81% to 135.66% [2] - Longzhu Technology, Wangcheng Technology, and Lintai New Materials expect net profit growth of approximately 50%, over 66%, and over 64%, respectively, indicating robust growth momentum [2][3] - Conversely, three companies forecast losses or profit declines, with Hualing Co. expecting a loss of 44 million to 56 million yuan, and Ge Bi Jia projecting a 59.63% decline in net profit [2][5] Group 2: Market Demand and Growth Drivers - The growth of companies is primarily driven by an improving external market environment and internal capability enhancements [3] - The overall recovery in industry demand is a significant backdrop, with Haine Technology noting a notable trend towards domestic manufacturing of high-end instruments and the gradual implementation of equipment renewal policies [3] - Jilin Carbon Valley reported continuous sales growth due to the recovering carbon fiber market [3] Group 3: Internal Innovations and Strategies - Companies are enhancing their internal growth momentum through ongoing technological innovation, product upgrades, and market expansion [4] - Haine Technology has invested in R&D, launching high-end products like organic element analyzers and liquid chromatography instruments, which have improved customer recognition and revenue [4] - Jilin Carbon Valley has improved product quality and stability through continuous innovation, while Longzhu Technology has seen rapid growth in its cross-border e-commerce business [4] Group 4: Cost Pressures and Challenges - Companies forecasting losses or declines attribute these to rising fixed costs, reduced specific revenues, and ongoing adjustments in their respective sectors [5] - Hualing Co. cited increased depreciation costs and employee salaries due to new equipment and project-related hiring as significant pressures on profits [5] - Ge Bi Jia mentioned a decline in the sales proportion of high-margin specialty glass products and reduced government subsidies as factors contributing to lower overall profit margins [5][6]