证券之星消息，江苏神通(002438)9月2日公开信息显示，股东宁波聚源瑞利创业投资合伙企业(有限合 伙)向国泰海通证券股份有限公司合计质押1008.0万股，占总股本1.99%。质押详情见下表： 截止本公告日，股东宁波聚源瑞利创业投资合伙企业(有限合伙)已累计质押股份1008.0万股，占其持股 总数的12.19%，股东湖州风林火山股权投资合伙企业(有限合伙)已累计质押股份1070.0万股，占其持股 总数的42.16%。本次质押后江苏神通十大股东的累计质押股份占持股比例(占持股比例的计算以公司最 新一期财务报表公布的十大股东的持股总数为基准)见下图： 江苏神通财务数据及主营业务： 江苏神通2025年中报显示，公司主营收入10.68亿元，同比上升1.52%；归母净利润1.5亿元，同比上升 4.72%；扣非净利润1.38亿元，同比上升8.54%；其中2025年第二季度，公司单季度主营收入4.91亿元， 同比上升1.9%；单季度归母净利润6088.97万元，同比上升1.61%；单季度扣非净利润4764.62万元，同 比上升2.59%；负债率40.37%，投资收益1398.95万元，财务费用830.65万元，毛利率32 ...

大西洋分析师会议 调研日期：2025年09月01日 / 机构调研pro小程序 DJvanbao.com 洞见研报 出品 : 调研行业：通用设备 参与调研的机构：投资者等 机构调研pro小程序致力于为金融证券投资者提供最新最全的调研会议纪要。 来机构调研pro小程序，了解最新的：行业投资风向、热门公司关注、权威机构分析... 权威完善的信息持续更新! 更多精彩的机构调报告请移步机构调研pro小程序~ 一解投资机构行业关注度。 频判市场 | Gallia | | | --- | --- | | 11 2 12 200 2 110 | | | 1:给我们 = 影片面临官 = | | | 阿里巴巴佩尼 | | | 钢铁机之题。 8 | 图纸制图: 23 | | 20GB Millio Aller 19 | | | 海双集团 | | | 1 1 80.0 0 | 总机构建 23 | | LOGA: REGH, KETA: 1986 | | | 小麦具日 | | | 的研究次数:8 | 上机构馆:23 | | 定年代的:用者点击:我要的中:主要原因 | | | START SHILL CARD | | | 颜的集团 | ...

1. Report Industry - The report focuses on the general equipment industry [2] 2. Core Viewpoints - The report analyzes the business and product application scenarios of Binglun Environment, highlighting its technical strength and market performance in multiple fields [22][23][26] 3. Summary by Directory 3.1. Research Basic Situation - The research object is Binglun Environment, belonging to the general equipment industry, with a reception time of September 1, 2025, and the listed company's reception staff is the board secretary, Sun Xiuxin [17] 3.2. Detailed Research Institutions - The research institutions include Panjing Investment (represented by Chang Yile) and Huachuang Securities (represented by Ding Yi and Chen Hongyang) [18] 3.3. Main Content Data 3.3.1. Business and Industrial Sector - Binglun Environment provides advanced system solutions and full - life - cycle services in the energy and power fields, with main products such as compressors and heat exchange devices, covering a temperature range from - 271°C to 200°C. It has a full - series magnetic levitation compressor product matrix and participates in national standard drafting [22] - The company's products are widely used in various industries, including commercial refrigeration, industrial freezing, commercial air - conditioning, industrial special air - conditioning, energy utilization, casting, and intelligent control [23] 3.3.2. Product Application and Production Capacity in Data Centers - Dunham - Bush and Binglun Heat Exchange Technology provide cooling equipment for data centers and liquid - cooling systems. Two products of Dunham - Bush are on the national green data center list. The company has served many domestic and overseas data centers [23][24] - In 2024, new products were launched, and some technologies of Binglun Heat Exchange Technology were recognized. There are thresholds in the IDC cold - water unit market, and overseas manufacturing bases are expanding production [24][25] 3.3.3. Industrial Thermal Management Business - Guided by the national dual - carbon strategy, the company launched the "Industrial Full - domain Thermal Control Comprehensive Solution", which benefits from urban heat network transformation [26] 3.3.4. Products Applied in the Nuclear Power Industry - The company has developed a series of innovative technologies for nuclear power, serving many domestic nuclear power plants. Different subsidiaries have unique technologies and rich experience in the nuclear power field [26][27]

证券研究报告 | 2025年09月01日 广电计量（002967.SZ） 优于大市 上半年归母净利润同比增长 22%，新质生产力业务加速驱动 2024 年收入同比增长 10.01%，归母净利润同比增长 22.11%。公司 2025 年 上半年实现收入 14.78 亿元，同比增长 10.01%，归母净利润 0.97 亿元，同 比增长 22.11%，扣非归母利润 0.83 亿元，同比增长 26.35%，其中二季度收 入 8.60 亿元，同比增长 13.79%，归母净利润 0.92 亿元，同比增长 17.83%， 扣非归母净利润 0.85 亿元，同比增长 17.95%，受益新质生产力业务实现较 好增长，利润增速快于收入增速。另上半年毛利率/净利率 43.36%/6.25%， 同比提升 1.47/0.70 个百分点，结构优化、降本增效明显。 核心观点 公司研究·财报点评 机械设备·通用设备 | 证券分析师：吴双 | 证券分析师：王鼎 | | --- | --- | | 0755-81981362 | 0755-81981000 | | wushuang2@guosen.com.cn | wangding1@guose ...

上次评级 —— 郭雪 环保公用联席首席分析师 执业编号：S1500525030002 证券研究报告 公司研究 [Table_ReportType] 公司点评报告 [Table_StockAndRank] 海鸥股份(603269.SH) 投资评级 —— 邮 箱：guoxue @cindasc.com 王锐 机械行业首席分析师 执业编号：S1500523080006 邮箱：wangrui1@cindasc.com 吴柏莹 环保行业分析师 执业编号：S1500524100001 邮 箱：wuboying@cindasc.com 信达证券股份有限公司 CINDA SECURITIES CO.,LTD 北京市西城区宣武门西大街甲127号金隅大厦 B座 邮编：100031 [Table_Title] 国内冷却塔龙头，订单充足利润稳步增长 [Table_ReportDate] 2025 年 09 月 1 日 [Table_S 事件：公司ummar发布y] 2025 年半年报，2025H1 公司实现总营业收入 7.75 亿元， 同比增长 19.99%；实现归母净利润 0.35 亿元，同比增长 25.31%；实现扣 非归母净利 ...

证券研究报告 | 公司点评 | 通用设备 申菱环境(301018) 报告日期：2025 年 09 月 01 日 Q2 有望开始业绩拐点，美国订单实现突破 ——申菱环境 25 年中报点评报告 投资要点 ❑ Q2 业绩同比+60%，毛利率显著改善 25H1 公司实现营收 16.8 亿元，YOY+29%，其中，数据服务营收 YOY+44%；工 业板块营收 YOY+99%；特种板块营收 YOY-20%；归母净利润 1.5 亿元， YOY+36%；毛利率 24.41%，同比-2.04pct；销售、管理、财务、研发费用率分 别为 5.10%/5.34%/0.60%/4.61%，同比分别-2.62pct/-0.56pct/+0.17pct/-0.62pct，期 间费用率持续优化。 ❑ 数据中心新签订单约同比翻倍，美国业务实现突破 25H1 公司数据服务板块营收同比增长 43.77%，营收增长主要来自于高能效创新 产品，包括新一代蒸发冷却产品、相变冷却、液冷产品等，与 H 公司、字节、 腾讯、阿里以及主要 COLO 商等重要头部客户的合作粘性进一步强化。 截至 25 年 8 月 29 日，公司 25 年数据服务新增订单约为 ...

Market Performance - The general equipment sector increased by 1.13% on September 1, with Rongyi Precision leading the gains [1] - The Shanghai Composite Index closed at 3875.53, up 0.46%, while the Shenzhen Component Index closed at 12828.95, up 1.05% [1] Top Gainers - Rongyi Precision (code: 873223) closed at 28.31, up 29.98% with a trading volume of 289,900 shares [1] - Lio Co., Ltd. (code: 002131) closed at 5.79, up 10.08% with a trading volume of 11,722,900 shares [1] - Lande Co., Ltd. (code: 605060) closed at 28.22, up 10.02% with a trading volume of 49,700 shares [1] Top Losers - Huaguang New Materials (code: 688379) closed at 56.50, down 10.60% with a trading volume of 94,700 shares [2] - Weilon Co., Ltd. (code: 002871) closed at 17.90, down 9.91% with a trading volume of 3,377,000 shares [2] - Tongfei Co., Ltd. (code: 300990) closed at 77.96, down 5.08% with a trading volume of 113,800 shares [2] Capital Flow - The general equipment sector saw a net inflow of 315 million yuan from institutional investors, while retail investors contributed a net inflow of 465 million yuan [2][3] - The sector experienced a net outflow of 781 million yuan from speculative funds [2][3] Individual Stock Capital Flow - Lio Co., Ltd. had a net inflow of 1.851 billion yuan from institutional investors, while it faced a net outflow of 845 million yuan from speculative funds [3] - Hanzhong Precision (code: 002158) had a net inflow of 254 million yuan from institutional investors, with a net outflow of 94.35 million yuan from speculative funds [3]

Group 1 - The manufacturing PMI for August is 49.4%, a slight increase of 0.1 percentage points from July, indicating a modest recovery in the manufacturing sector [1] - The non-manufacturing business activity index rose to 50.3%, up 0.2 percentage points from July, reflecting an overall positive trend in the economy [1] - The comprehensive PMI output index increased to 50.5%, a rise of 0.3 percentage points from the previous month, suggesting improved economic conditions [1] Group 2 - The production index for manufacturing reached 50.8%, up 0.3 percentage points, indicating accelerated production expansion [1] - The new orders index for manufacturing is at 49.5%, a slight increase of 0.1 percentage points, showing a gradual improvement in market demand [1] - High-tech manufacturing PMI significantly improved by 1.3 percentage points to 51.6%, indicating strong growth and resilience in this sector [2] Group 3 - The basic raw materials industry PMI rose to 48.2%, an increase of 0.2 percentage points, showing signs of recovery in this sector [2] - The production and business activity expectation index is at 53.7%, up 1.1 percentage points, reflecting increased confidence among manufacturing enterprises [2] Group 4 - The service industry business activity index reached 50.5%, a rise of 0.5 percentage points, marking the highest level this year [3] - The business activity expectation index for the service sector is at 57.0%, up 0.4 percentage points, indicating optimism about future market developments [3] - The upcoming "Golden September and Silver October" period is expected to further improve economic indicators as seasonal demand increases [3]

证券研究报告 | 2025年09月01日 金帝股份（603270.SH） 优于大市 2025 年上半年利润同比增长 33%，积极拓展低空人形新产品 2025 年上半年营业收入同比增长 40.57%，归母净利润同比增长 32.86%。公 司 2025 年上半年实现营收 8.35 亿元，同比增长 40.57%；归母净利润 0.76 亿元，同比增长 32.86%。单季度看，2025 年第二季度公司实现营收 4.53 亿 元，同比增长 41.22%；归母净利润 0.37 亿元，同比增长 31.04%。盈利能力 方面，2025 年上半年公司毛利率/净利率为 28.84%/9.10%，同比变动 -1.72/-0.60pct。期间费用方面，2025 年上半年公司销售/管理/研发/财务 费 用 率 分 别 为 1.67%/8.25%/7.88%/0.16% ， 同 比 变 动 -0.23/-0.88/ -0.67/-0.30pct，整体费用率持续优化。 产品结构持续优化，新能源及风电领域表现亮眼。公司精密零部件业务实现 收入 3.40 亿元，同比增长 41.67%，毛利率 19.52%，同比下滑 4.68pct，其 中新能源 ...

机械设备/通用设备 泉峰控股（02285.HK） 2025 年 09 月 01 日 投资评级：买入（维持） 数据来源：聚源 -60% -30% 0% 30% 60% 2024-08 2024-12 2025-04 泉峰控股 恒生指数 相关研究报告 《2025H1 彰显韧性提振预期，产能外 迁利于业绩释放—港股公司信息更新 报告》-2025.7.24 《短期盈利或承压，产能外迁后利润 有望显著释放—港股公司信息更新报 告》-2025.3.28 《品牌及产品竞争力稳固，加速产能 迁移或能缓解担忧—港股公司信息更 新报告》-2024.8.29 短期压力或随顺周期缓释，越南产能或提升确定性 | 日期 | 2025/8/29 | | --- | --- | | 当前股价(港元) | 22.440 | | 一年最高最低(港元) | 24.800/10.700 | | 总市值(亿港元) | 114.68 | | 流通市值(亿港元) | 114.68 | | 总股本(亿股) | 5.11 | | 流通港股(亿股) | 5.11 | | 近 3 个月换手率(%) | 33.8 | 股价走势图 ——港股公司信息更新报告 | 张可 ...