25家公司的营收及归母净利润在今年二季度均实现了单季度同比和环比正增长，如卓兆点胶、贝特瑞、 建邦科技等。同时21家公司宣布半年度分红计划，股东回报日益获得关注。 展望下半年，北交所公司整体业绩表现或将进一步延续增速回升趋势，北交所已经涌现了一批具备高壁 垒的稀缺性标的，凭借其竞争优势不断提升赛道份额、加快业务开拓。 四年来北交所市场规模稳步提升，市场运行保持稳中向好 8月份北交所北证50指数创出年内新高，显示市场情绪正在逐步修复。成交额较前期有所回升，新股上 市依旧延续高弹性特征，首日涨幅亮眼，凸显稀缺供给对资金的吸引力。市场在中报验证、政策预期和 资金回暖的共振下，已显现出活跃度提升的迹象。 截至8月31日，274家北交所上市公司全部完成半年报披露，平均实现营业收入3.36亿元，同比增长 6.01%。从业绩情况看，225家公司实现盈利，盈利面82.12%，168家公司（占比61.31%）营业收入同比 增长，137家公司（占比50 %）净利润同比增长。 华源证券北交所首席赵昊告诉新京报贝壳财经记者，整体来看，北交所上市公司上半年收入、盈利增速 均较2023—2024年有所回升，整体业绩表现有转暖迹象。 北交 ...

Core Viewpoint - The report from Dongwu Securities highlights the industrial potential of warm isostatic pressing (WIP) technology for solid-state battery densification, indicating a significant market opportunity by 2029 with an expected value of 2.9 billion yuan [1][4]. Group 1: Isostatic Pressing Technology - Isostatic pressing technology has a wide range of applications across various industries, including aerospace, medical, automotive, and electronics, due to its advantages in densification and uniformity [2]. - The technology is categorized into cold, warm, and hot isostatic pressing, with warm isostatic pressing achieving a balance between densification performance, production efficiency, and cost [2]. Group 2: Application in Solid-State Batteries - Isostatic pressing can effectively address solid-solid interface contact issues in solid-state batteries, enhancing densification and improving component contact quality [3]. - Warm isostatic pressing is identified as the optimal process for solid-state battery densification, as it meets the temperature and pressure requirements while minimizing adverse reactions and energy costs [3]. Group 3: Industry Players and Market Dynamics - Traditional isostatic equipment manufacturers, such as Quintus and domestic firms like Chuanxi Machinery and Steel Research, are leveraging high-pressure technology to accelerate the transition to solid-state battery applications [4]. - Cross-industry players, including battery manufacturers and equipment suppliers like Xian Dao Intelligent and Liyuanheng, are redefining equipment based on downstream production line experiences, facilitating the industrialization of solid-state battery isostatic pressing [4]. Group 4: Challenges in Production - Current challenges in isostatic pressing equipment for solid-state batteries include design complexities, safety concerns, and limited production capacity, which hinder large-scale manufacturing [5]. - Enhancements in pre-treatment processes, pressure vessel volume, and automation can improve production efficiency and integration into solid-state battery production lines [5]. Group 5: Recommended Companies - Key recommendations include solid-state battery equipment suppliers like Xian Dao Intelligent (300450.SZ) and Liyuanheng (688499.SH), as well as companies involved in isostatic pressing equipment such as Nakano (832522.BJ) and Chuanxi Machinery [6].

广发证券首席金工分析师 安宁宁 anningning@gf.com.cn 广发证券联席首席金工分析师 陈原文 chenyuanwen@gf.com.cn 广发金工安宁宁陈原文团队 摘要 盈利、成长是选股的重要变量： 在2020年8月26日广发金融工程团队发布了关于长线选股系列报告 (二)：《如何挖掘景气向上，持续增长企业》，围绕盈利和成长两大维度，辅助个股质量、价值等维度 对个股进行精选。本篇报告对该策略的表现进行跟踪，以下如无特别说明，本篇报告数据来源均为 Wind。 实证分析： 在回测期内，等权重策略在历史回测期内相对中证800指数年化波动率为13.67%，年化信息 比为1.19。组合从个股持股数量上看，平均每期持股数量约为55只，每期组合内个股的平均流通市值为 140亿元左右；从历史组合每期入选个股的行业分布中可以看出，医药生物、化工、电子、机械设备、 食品饮料等行业个股入选次数较多。 风险提示： （1） 本专题报告所述模型用量化方法通过历史数据统计、建模和测算完成，所得结论与规 律在市场政策、环境变化时可能存在失效风险 ；（2） 策略在市场结构改变时有可能存在策略失效风险 ；（3） 策略在交易行为改变 ...

荣亿精密股价创出历史新高，截至10:47，该股上涨7.44%，股价报23.40元，成交量1590.30万股，成交 金额3.46亿元，换手率19.49%，该股最新A股总市值达36.80亿元，该股A股流通市值19.09亿元。 证券时报·数据宝统计显示，荣亿精密所属的机械设备行业，目前整体涨幅为0.42%，行业内，目前股价 上涨的有352只，涨停的有德固特、利欧股份等9只。股价下跌的有229只，跌幅居前的有正帆科技、卓 然股份、伟隆股份等，跌幅分别为9.77%、9.27%、8.45%。 两融数据显示，该股最新（8月29日）两融余额为1137.59万元，其中，融资余额为1137.59万元，近10日 增加563.53万元，环比增长98.17%。 公司发布的半年报数据显示，上半年公司共实现营业收入1.93亿元，同比增长49.37%，实现净利 润-522.38万元，同比增长58.13%，基本每股收益为-0.0300元。（数据宝） （文章来源：证券时报网） ...

Core Viewpoint - Three companies listed on the ChiNext board reported a decrease in shareholder accounts as of August 31, with notable declines in the number of shareholders for Naipu Mining Machine, Huichuan Technology, and Guangwei Composite Materials [1][2] Group 1: Shareholder Account Changes - Naipu Mining Machine reported the largest decline in shareholder accounts, with a total of 9,387 accounts, down 16.69% from August 20, and has seen a cumulative increase of 0.73% in stock price since the concentration of shares began [1][2] - Huichuan Technology's shareholder accounts decreased by 0.44% to 149,618, with a cumulative stock price increase of 8.93% during the same period [1][2] - Guangwei Composite Materials had 75,100 shareholder accounts, reflecting a decrease of 0.16%, and a cumulative stock price increase of 1.49% since the concentration of shares began [1][2] Group 2: Market Performance and Trends - Naipu Mining Machine has experienced a cumulative decline of 25.98% in shareholder accounts over four consecutive periods [2] - The average stock price increase for concentrated shares since August 21 is 3.72%, with Huichuan Technology, Guangwei Composite Materials, and Naipu Mining Machine showing increases of 8.93%, 1.49%, and 0.73% respectively [2] - In terms of industry, the mechanical equipment sector has the highest concentration of shares among the reported companies, with two stocks listed [2]

投资策略专题 2025 年中报：结构重于全局、科技为先 策略研究团队 ——投资策略专题 韦冀星（分析师） 曹晋（联系人） weijixing@kysec.cn 证书编号：S0790524030002 《寻找当下相对便宜的指数和风格— 投资策略周报》-2025.8.30 《开源金股，9 月推荐—投资策略专 题》-2025.8.29 《华为产业链，或为下一个"高低切" caojin1@kysec.cn 证书编号：S0790124080011 2025 年中报速览：全 A 营收增速转正、盈利增速放缓 相较 Q1 财报表现，A 股 2025 年上半年的营收同比增速由负转正，净利润同比 增速下滑，全 A（非金融）的净利润增速较 Q1 大幅下滑。 需求端：2025 年 H1 全 A 的营收同比增速为 0.04%，较 Q1 的-0.15%小幅改善； 全 A（非金融）H1 营收同比增速为-0.45%，Q1 为-0.2%。 利润端：2025 年 H1 全 A 的净利润同比增速为 2.40%，较 Q1 的 4.02%回落；全 A（非金融）H1 净利润同比增速为 0.96%，Q1 为 5.21%。 对于 A 股 2025 年中报业 ...

Core Insights - The financing balance of the ChiNext board has reached 464.83 billion yuan, marking a continuous increase for 15 trading days, with a total increase of 64.59 billion yuan during this period [1][2]. Financing Balance Overview - As of August 29, 2025, the total margin balance of the ChiNext board is 466.35 billion yuan, with a day-on-day increase of 6.11 billion yuan. The financing balance is 464.83 billion yuan, increasing by 6.09 billion yuan from the previous day [1][2]. - The financing balance has increased for 15 consecutive trading days, with a cumulative increase of 64.59 billion yuan [1]. Individual Stock Performance - Among the stocks with increased financing balances, 615 stocks saw an increase, with 273 stocks experiencing an increase of over 20%. The stock with the highest increase is Meixin Technology, with a financing balance of 12.66 million yuan, reflecting a 334.26% increase [2][3]. - Conversely, 328 stocks experienced a decrease in financing balance, with 33 stocks seeing a decline of over 20%. The largest decrease was observed in Kailong High-Tech, with a financing balance of 3.58 million yuan, down 54.85% [2][3]. Sector Analysis - The stocks with financing balance increases of over 20% are primarily concentrated in the electronics, machinery equipment, and power equipment sectors, with 49, 36, and 34 stocks respectively [4]. - The average increase in stock prices for those with financing balance increases exceeding 20% is 16.37%, which is lower than the ChiNext index performance [5]. Notable Stocks - The stocks with the largest increases in financing balance include Shenghong Technology (11.92 billion yuan, up 6.03 billion yuan), New Yi Sheng (12.02 billion yuan, up 5.34 billion yuan), and Zhongji Xuchuang (10.92 billion yuan, up 4.45 billion yuan) [5][6]. - Stocks with significant decreases in financing balance include Guangxin Media (1.82 billion yuan, down 338 million yuan), Jingjiawei (2.09 billion yuan, down 210 million yuan), and Shuo Beid (808 million yuan, down 208 million yuan) [5][6].

科创板2022年业绩概貌出炉。截至2月28日，科创板507家公司悉数披露2022年业绩(或业绩预告)。 其中，504家披露业绩快报，2家披露年报，1家披露业绩预告。 总体上看，科创板公司业绩稳中有升，营业收入首次破万亿元，净利润首次破千亿元。其中，七成 公司实现营业收入增长，超八成公司实现盈利，近五成公司归母净利润同比增长。 接受记者采访的专家表示，从目前情况来看，2022年科创板整体业绩呈现增长态势。 整体业绩呈增长态势 2月24日晚间，盛美上海披露2022年年度报告，正式拉开了科创板2022年年报披露序幕。盛美上海 去年实现营收28.73亿元，同比增长77.25%；实现归母净利润6.68亿元，同比增长151.08%。2月27日晚 间，威胜信息披露年报，公司2022年实现营业收入20.04亿元，实现净利润4亿元，分别同比增长 9.75%、17.20%。 科创50成份股公司业绩亮眼 受益于科创板业绩高增长，科创50ETF"吸金效应"明显。上交所数据显示，截至2月28日，科创 50ETF产品最新份额已达到874亿份，较2022年初增长191%，产品规模超过800亿元，已成为境内第三 大宽基指数产品。 据记者梳理 ...

注：本文系新闻报道，不构成投资建议，股市有风险，投资需谨慎。 （文章来源：证券时报网） 证券时报·数据宝统计显示，必得科技所属的机械设备行业，目前整体涨幅为0.66%，行业内，目前股价 上涨的有339只，涨停的有德固特、博杰股份等4只。股价下跌的有230只，跌幅居前的有华光新材、正 帆科技、卓然股份等，跌幅分别为6.91%、6.71%、6.20%。 公司发布的半年报数据显示，上半年公司共实现营业收入2.13亿元，同比增长17.06%，实现净利润 2247.51万元，同比增长147.04%，基本每股收益为0.1200元，加权平均净资产收益率2.19%。（数据 宝） 必得科技股价再创历史新高，该股近期呈不断突破新高之势，近一个月累计有10个交易日股价刷新历史 纪录。截至09:33，该股目前上涨4.70%，股价报32.09元，成交166.31万股，成交金额5438.02万元，换 手率0.90%，该股最新A股总市值达60.28亿元，该股A股流通市值59.25亿元。 ...

两融数据显示，该股最新（8月29日）两融余额为3.68亿元，其中，融资余额为3.68亿元，近10日增加 1.04亿元，环比增长39.32%。 公司发布的半年报数据显示，上半年公司共实现营业收入4.44亿元，同比增长22.68%，实现净利润 3058.70万元，同比下降19.94%，基本每股收益为0.3300元，加权平均净资产收益率1.78%。（数据宝） 精智达股价创出历史新高，截至9:33，该股上涨6.99%，股价报112.77元，成交量63.13万股，成交金额 7054.51万元，换手率0.87%，该股最新A股总市值达106.02亿元，该股A股流通市值81.59亿元。 证券时报·数据宝统计显示，精智达所属的机械设备行业，目前整体涨幅为0.66%，行业内，目前股价上 涨的有339只，涨停的有德固特、博杰股份等4只。股价下跌的有230只，跌幅居前的有华光新材、正帆 科技、卓然股份等，跌幅分别为6.91%、6.71%、6.20%。 注：本文系新闻报道，不构成投资建议，股市有风险，投资需谨慎。 （文章来源：证券时报网） ...