Group 1 - The core viewpoint of the article highlights the recent research conducted by Baoyin Investment on Ningbo Jingda, a listed company specializing in heat exchanger and precision press equipment, with a focus on battery and motor casing stamping equipment [1] - The company's performance in the first half of the year experienced a slight decline due to international trade factors, but there was a recovery in the second quarter with double-digit year-on-year growth in orders [1] - The acquisition of 100% equity in Wuxi Weiyan contributed to a 70% increase in export orders in the first half of the year, with North American orders reaching the level of the previous year [1] Group 2 - The establishment of a joint venture, Germany Jingda Shaola, aims to introduce advanced technologies such as high-frequency pipe manufacturing and rolling machines to promote import substitution [1] - The microchannel heat exchanger equipment is applied in various fields including automotive thermal management, data centers, and hydrogen energy, with clients such as BYD, Valeo, and Sanhua [1] - The company is expanding into new directions such as EV, robotics, eVTOL lightweighting, and hydrogen energy, while also focusing on the development of specialized machines for robotics [1]

Core Viewpoint - The company reported a decline in revenue and net profit for H1 2025, primarily due to weakened market demand for its core product, filter presses [4][5]. Financial Performance - In H1 2025, the company achieved revenue of 2.83 billion, a year-on-year decrease of 9.6%, and a net profit attributable to shareholders of 330 million, down 28.5% year-on-year [4]. - For Q2 2025, revenue was 1.42 billion, a year-on-year decline of 12.3%, with a net profit of 160 million, down 30.0% year-on-year [4]. - The overall gross margin decreased by 3.5 percentage points to 25.9%, while the net profit margin fell by 3.1 percentage points to 11.6% [5]. Market Demand and Sales - The demand for filter presses has weakened, leading to pressure on both sales volume and profit margins [5]. - Revenue from the new energy sector decreased significantly, with its contribution to total revenue dropping by 9.1 percentage points to 13.4% [5]. - Domestic revenue accounted for 95.8% of total revenue, amounting to 2.71 billion, down 9.0% year-on-year, while international revenue was 120 million, down 21.4% [5]. Strategic Initiatives - The company is actively promoting new products and expanding into new markets, focusing on technological innovation and product upgrades [6]. - Orders and revenue from supporting equipment have been increasing, although their lower gross margins limit their contribution to overall net profit [6].

德力西新能源科技股份有限公司 股票交易风险提示公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： ?德力西新能源科技股份有限公司（以下简称"公司"）于 2025 年 9 月 1 日披露《德力西新能源科技股份有限公司股票交易异常波动公告》（公告编 号：2025-049）。公司股票于 2025 年 8 月 29 日、9 月 1 日连续两个交易日内 日收盘价格涨幅偏离值累计超过 20%，根据《上海证券交易所交易规则》的有 关规定，属于股票交易异常波动情形。2025 年 9 月 2 日公司股票再次以涨停价 收盘。 证券代码：603032 证券简称：德新科技 公告编号：2025-050 截至本公告披露日，公司注意到目前市场上对于公司固态电池概念的热点 情况。公司特此说明：公司不直接生产固态电池，子公司东莞致宏精密模具有 限公司为下游锂电池生产企业、新能源设备制造企业提供能满足不同生产工 艺、产品性能及应用需求的系列极片自动裁切高精密模具、高精密模切刀等产 品及解决方案。 （三）重大事项情况 ?鉴于公司股票价格短期涨幅较 ...

格隆汇9月2日丨东威科技(688700.SH)在投资者互动平台表示，公司的双边夹设备可用于制备HVLP铜 箔，目前已接到客户订单。公司设备的优势有：1、低温低电流能够让表面更致密和平整，非接触式设 备，使产品具有更好的外观；2.一体式电镀，连续镀出铜层具有更可靠物理性能。 ...

Group 1 - The company *ST Xinyuan (SZ 300472) held its 14th meeting of the 5th Board of Directors on September 2, 2025, via remote voting, where it reviewed a proposal to authorize temporary management to apply to the court for common debt borrowing [1] - For the first half of 2025, *ST Xinyuan's revenue composition was entirely from the specialized equipment manufacturing industry, accounting for 100.0% [1] - The current market capitalization of *ST Xinyuan is 1.7 billion yuan [2]

Core Viewpoint - Dongwei Technology (688700.SH) has received customer orders for its bilateral clamping equipment used in the preparation of HVLP copper foil, highlighting the company's growing market presence and product demand [1] Group 1: Product Advantages - The equipment offers low temperature and low current capabilities, resulting in a denser and smoother surface, which enhances product appearance [1] - The non-contact design of the equipment contributes to better product aesthetics [1] - The integrated electroplating process allows for continuous copper layer deposition, ensuring more reliable physical properties [1]

Core Viewpoint - The company, Jiejia Weichuang, is primarily focused on the research, production, and sales of photovoltaic cell equipment, while its semiconductor equipment business remains relatively small [1] Group 1: Business Focus - The main business of the company is the research, production, and sales of photovoltaic cell equipment [1] - The company is actively expanding into the semiconductor and third-generation semiconductor equipment sectors [1] Group 2: Recent Developments - The company's semiconductor cleaning equipment is continuously receiving new orders [1] - The silicon carbide high-temperature heat treatment process equipment has been delivered to leading industry clients [1] - The company is engaged in ongoing research and development of other semiconductor and related equipment [1]

Core Viewpoint - Haosen Intelligent (688529) currently has no orders in solid-state battery equipment but is actively developing technology and market opportunities [1] Company Summary - The company has conducted process equipment and technology reserves for solid-state battery production [1] - It possesses the planning and technical capabilities for module PACK mass production lines [1] - The company is engaged in market expansion efforts to secure order business [1]

Core Viewpoint - The company, Southern Road Machinery (603280.SH), has successfully integrated AI technology into its equipment and solutions, enhancing operational efficiency and accuracy in various applications [1] Group 1: AI Technology Applications - The AI robotic technology is widely applied across multiple product lines and solutions, including the AI efficient pneumatic sorting robot, which achieves a recognition accuracy of over 95% for impurity removal [1] - The AI+ aggregate intelligent feeding system utilizes artificial intelligence and visual detection technology for real-time monitoring and automatic alerts, ensuring efficient concrete production by managing aggregate grading and morphology [1] Group 2: Operational Efficiency - The AI solutions support intelligent operation and maintenance through cloud-based monitoring of sensor data, enabling round-the-clock management of equipment [1]

Investment Rating - The report maintains a "Buy" rating for the company, indicating a positive outlook for future performance [5]. Core Views - The company has shown steady revenue growth in the first half of 2025, with a 13.1% year-on-year increase in revenue to 443 million yuan, although net profit decreased by 23.7% to 43 million yuan [1][2]. - The second quarter of 2025 saw significant improvement, with a 19.1% year-on-year revenue increase to 232 million yuan and a 49.9% quarter-on-quarter net profit growth [1][2]. - The company is benefiting from increased demand in the PCB sector due to the Southeast Asia investment boom and the rapid development of AI-related big data storage [2][3]. - The company has a strong order backlog, with contract liabilities increasing by 45.8% to 537 million yuan as of June 30, 2025, driven by growing demand and successful technology innovation [2][3]. Summary by Sections Financial Performance - In the first half of 2025, the company achieved a revenue of 443 million yuan, a 13.1% increase year-on-year, while net profit decreased to 43 million yuan, down 23.7% [1]. - The gross margin for the first half of 2025 was 32.5%, a decline of 6.1 percentage points compared to the previous year [1]. - The second quarter of 2025 reported a revenue of 232 million yuan, a 19.1% increase year-on-year, and a net profit of 25 million yuan, reflecting a 3.2% year-on-year increase and a 49.9% quarter-on-quarter increase [1][2]. Business Development - The company has successfully developed new equipment for the PCB sector, including glass substrate-related devices for semiconductor packaging, and has received positive feedback from customers [3]. - In the renewable energy sector, the company has developed innovative equipment that improves material utilization and reduces production costs, receiving high recognition from clients [3]. - The company has expanded its market presence in Southeast Asia, particularly in Thailand, where it has established a production base and is serving numerous clients [2][3]. Profit Forecast and Valuation - The report forecasts the company's net profit for 2025 to be 168 million yuan, with expected earnings per share (EPS) of 0.56 yuan [3][9]. - The company is projected to have a net profit of 234 million yuan in 2026 and 282 million yuan in 2027, with corresponding EPS of 0.78 yuan and 0.94 yuan [3][9]. - The report maintains a positive outlook on the growth potential of PCB equipment, supported by a strong order backlog [3].