8月20日，横店东磁发布2025年上半年报告称，报告期内，公司实现营业收入119.36亿元，同比增长24.75%；实现归属于上市公司股东的净利润10.2亿元， 同比增长58.94%；扣除非经常性损益的净利润为10.71亿元，同比增长77.83%。 | | 本报告期 | 上年同期 | | 本报告期比上年同期增减 | | | --- | --- | --- | --- | --- | --- | | | | 调整前 | 调整后 | 调整后 | | | 营业收入(万元) | 1.193.568.24 | 956.700.79 | 956,751.93 | | 24.75% | | 归属于上市公司股东的净利润 (万元) | 102.004.34 | 63.883.47 | 64.179.53 | | 58.94% | | 归属于上市公司股东的扣除非 经常性损益的净利润(万元) | 107.084.30 | 59.922.72 | 60.217.83 | | 77.83% | | 经营活动产生的现金流量净额 (万元) | 170.075.32 | 134.746.07 | 134,486.21 | 26.46% | | ...

据证券之星公开数据整理，近期英洛华(000795)发布2025年中报。截至本报告期末，公司营业总收入 17.34亿元，同比下降14.73%，归母净利润1.44亿元，同比上升0.52%。按单季度数据看，第二季度营业 总收入8.94亿元，同比下降21.46%，第二季度归母净利润7512.83万元，同比下降2.47%。本报告期英洛 华盈利能力上升，毛利率同比增幅10.4%，净利率同比增幅14.84%。 本次财报公布的各项数据指标表现一般。其中，毛利率20.88%，同比增12.43%，净利率8.47%，同比增 22.55%，销售费用、管理费用、财务费用总计1.26亿元，三费占营收比7.24%，同比增18.83%，每股净 资产2.38元，同比增1.53%，每股经营性现金流0.05元，同比减74.15%，每股收益0.13元，同比增2.02% | | | | 项目 | 2024年中报 | 2025年中报 | 同比增幅 | | --- | --- | --- | --- | | 营业总收入(元) | 20.33亿 | 17.34 Z | -14.73% | | 归母净利润(元) | 1.43亿 | 1.44亿 | 0.52% ...

公司最新资产负债率为56.99%，较上季度资产负债率增加1.95个百分点。 公司最新毛利率为18.12%。最新ROE为9.78%。 公司摊薄每股收益为0.64元。 2025年8月21日，横店东磁(002056.SZ)发布2025年中报。 公司营业总收入为119.36亿元。归母净利润为10.20亿元。经营活动现金净流入为17.01亿元。 公司最新总资产周转率为0.48次。最新存货周转率为2.47次，较去年同期存货周转率减少0.93次，同比 较去年同期下降27.41%。 公司股东户数为8.69万户，前十大股东持股数量为9.78亿股，占总股本比例为60.11%，前十大股东持股 情况如下： | 序号 | 股东名称 | 持股比例 | | --- | --- | --- | | I | 横店集团控股有限公司 | 50.59% | | 2 | 香港中央结算有限公司 | 3.04% | | 4 | 何时金 横店集团东磁股份有限公司-第三期员工持股计划 | 1.64% 0.88% | | ર | 全国社保基金五零二组合 | 0.80% | | 6 | 中国农业银行股份有限公司-中证500交易型开放式指数证券投资基金 | 0.7 ...

Group 1: Electric Equipment - Haopeng Technology - The company achieved revenue of 2.763 billion yuan in H1 2025, a year-on-year increase of 19.29% [6] - The net profit attributable to shareholders was 97 million yuan, up 252.49% year-on-year, with a non-recurring net profit of 80 million yuan, increasing by 366.27% [6] - The company expects net profits of 259 million, 387 million, and 503 million yuan for 2025-2027, representing year-on-year growth of 183.9%, 49.3%, and 30.0% respectively [8] Group 2: Non-Banking Financial - Hong Kong Stock Exchange - The company reported a revenue of 14.076 billion HKD and a net profit of 8.519 billion HKD in H1 2025, reflecting year-on-year increases of 33% and 39% respectively [10] - The average daily trading volume in the Hong Kong stock market reached approximately 240.2 billion HKD, a year-on-year increase of 117.6% [11] - The company is expected to achieve a net profit of 16.623 billion HKD in 2025, with a price-to-earnings ratio of 33.6 times based on the closing price on August 20 [12] Group 3: Nonferrous Metals - Jinli Permanent Magnet - The company achieved revenue of approximately 3.507 billion yuan in H1 2025, a year-on-year increase of 4.33%, with a net profit of 305 million yuan, up 154.81% [17] - Domestic sales revenue was 2.994 billion yuan, increasing by 8.17%, while overseas sales revenue was 513 million yuan, down 13.58% [17] - The company expects EPS of 0.47, 0.59, and 0.72 yuan for 2025-2027, with corresponding price-to-book ratios of 5.1, 4.6, and 4.1 [19] Group 4: Agriculture, Forestry, Animal Husbandry, and Fishery - Lihua Co., Ltd. - The company reported revenue of 8.353 billion yuan and a net profit of 149 million yuan in H1 2025, with a year-on-year increase of 7.02% but a decrease in net profit by 74.10% [21] - The chicken business revenue was 635 million yuan, down 6.76% year-on-year, while the pig business revenue was 1.947 billion yuan, up 117.65% [22] - The company expects net profits of 586 million, 1.474 billion, and 1.942 billion yuan for 2025-2027, with a year-on-year change of -61.5%, +151.5%, and +31.8% respectively [23] Group 5: Non-Banking Financial - Ruida Futures - The company achieved total revenue of 1.047 billion yuan and a net profit of 228 million yuan in H1 2025, with year-on-year increases of 4.49% and 66.49% respectively [26] - The asset management business saw a revenue increase of 223.83% to 121 million yuan, driven by product scale expansion and investment returns [26] - The company is expected to achieve a net profit of 423 million yuan in 2025, reflecting a year-on-year increase of 10.5% [28] Group 6: Steel - Hualing Steel - The company reported revenue of 62.794 billion yuan in H1 2025, a year-on-year decrease of 17.02%, while net profit increased by 31.31% to 1.748 billion yuan [29] - The company’s high-end products accounted for 68.5% of total sales, with a focus on product structure optimization [30] - The company expects EPS of 0.44, 0.51, and 0.55 yuan for 2025-2027, with corresponding price-to-earnings ratios of 13, 11, and 10 [31] Group 7: Automotive - Yixin Group - The company achieved total revenue of 5.452 billion yuan and a net profit of 549 million yuan in H1 2025, with year-on-year increases of 22% and 33.93% respectively [33] - The financing total reached 32.7 billion yuan, with a significant contribution from financial technology services, which saw a revenue increase of 124% [34] - The company is expected to achieve a net profit of 1.143 billion yuan in 2025, reflecting a year-on-year increase of 41.2% [35] Group 8: Automotive - Fuyao Glass - The company reported revenue of 21.45 billion yuan and a net profit of 4.8 billion yuan in H1 2025, with year-on-year increases of 16.9% and 37.3% respectively [36] - The company’s gross margin improved to 37.1%, with a net margin of 22.4% [37] - The company expects revenue growth of 15% annually from 2025 to 2027, with net profits of 9.3 billion, 10.6 billion, and 12.4 billion yuan [38] Group 9: Nonferrous Metals - Bowei Alloy - The company achieved revenue of 10.221 billion yuan and a net profit of 676 million yuan in H1 2025, with year-on-year increases of 15.21% and 6.05% respectively [40] - The new materials segment generated revenue of 7.935 billion yuan, up 23.83%, while the renewable energy segment saw a revenue decrease of 10.10% [41] - The company expects EPS of 1.97, 2.05, and 2.21 yuan for 2025-2027, with corresponding price-to-earnings ratios of 13.4, 12.9, and 11.9 [42]

8月20日晚，横店东磁（002056）发布了2025年半年报，2025年上半年，公司实现营业收入119.36亿 元，同比增长24.75%；归母净利润10.20亿元，同比增长58.94%；扣非净利润10.71亿元，同比增长 77.83%。公司实现整体收入与利润的持续双增长，彰显出强劲的发展韧性与持久增长动能。 对于业绩增长的驱动因素，横店东磁表示，公司磁材产业龙头地位稳固，出货品类多结构优，新品开发 成效好，使公司经营质量进一步提升；光伏产业凭借差异化的海内外产能和市场布局，并参与提供下游 应用的解决方案，持续保持合理的盈利能力；锂电产业聚焦小动力市场，产量和收入再创新高。 具体来看，在磁材器件领域，横店东磁通过外拓市场，内挖潜力，提质增效。2025年上半年，公司磁材 器件实现收入23.71亿元，同比略有增长，磁材出货10.73万吨，出货结构更优化。 此外，在光伏领域，横店东磁持续开发差异化新品，目前已推出5类双玻标准产品和9类特殊应用场景产 品，电池量产转换效率提升至26.85%，研发效率达到27.25%。此外公司于年初制订了超高功率产品提 效路径，通过技改投资和工艺优化，超高功率产品取得了阶段性成果，从而进 ...

Financial Performance - In the first half of 2025, the company achieved total revenue of 3.057 billion CNY, a year-on-year increase of 20.42% [2] - The net profit attributable to shareholders was 113 million CNY, a year-on-year decrease of 24.39% [2] - Basic earnings per share were 0.14 CNY, down 22.22% year-on-year [2] - Total assets amounted to 8.664 billion CNY, a decrease of 1.27% year-on-year [2] - Net assets were 3.901 billion CNY, down 1.28% year-on-year [2] Market Dynamics - The company focused on quality revenue and high-quality growth, optimizing product and customer structures [2] - In Q1, operational efficiency improved significantly, while Q2 faced pressure on profitability due to international trade environment changes and intensified domestic competition [2][3] - The company’s overseas business showed significant recovery, with export shipment volume increasing year-on-year [3] Product Application and Sales - High-performance NdFeB permanent magnetic materials are primarily used in high-end applications in new energy, energy-saving, and intelligent sectors [4] - Product shipment volume increased by over 20% year-on-year, with shipments in the energy-saving and new energy vehicle market growing by over 30% [4] - The company shipped 2.9 million sets of energy-saving and new energy vehicle motors [4] Technology and Innovation - The coverage of grain optimization technology (TOPS) in products remained above 90%, while diffusion technology (THRED) coverage was about 80% [4] - The production of non-rare earth magnets increased by 55% year-on-year, and ultra-light rare earth magnet shipments grew by 82% [4][5] - The company maintains a dual strategy of "leading edge" and "rare earth resource balance" in R&D to reduce costs and enhance technology [8] Customer Base - The customer base includes Fortune 500 companies and leading enterprises in various sectors, with 100% coverage of top brands in energy-saving and new energy vehicles [7] - The company has established extensive business relationships with leading users in wind power generation, energy-saving motors, humanoid robots, and smart consumer electronics [7] Investor Relations - The investor relations activity was conducted via a conference call on August 20, 2025, with participation from various financial institutions [9][10]

盈利预测：我们预计2025-2027 年公司EPS 分别为0.35、0.44、0.55 元，PE 分别为53、42、34 倍，维 持"买入"评级。 风险提示：项目进度不及预期，产能释放不及预期，金属价格上涨不及预期。 Q2 业绩短期承压，不过随着出口许可证稳定获批和市场对无重稀土磁体接受度明显增加，公司业绩有 望回暖。由于公司海外业务占比较高(2024 年海外占比约23.71%)，因此Q2 受国际经贸环境变化影响较 大，短期内业绩有所承压，不过随着出口许可证稳定获批和市场对无重稀土磁体接受度明显增加，公司 海外业务已出现显著回暖，报告期末公司出口发货量同比实现增长，并呈现出"老客户补单需求释放与 新客户渗透效果提升"态势，业绩拐点或正在到来。 公司节能和新能源汽车领域继续维持稳步增长，同时也积极跟进人形机器人、低空飞行器等下游重点应 用新场景，已持续向下游客户小批量供货，未来成长可期。传统业务方面，公司继续推动无重稀土、低 重稀土和超轻稀土相关技术的创新与应用，进一步增强公司在高端磁性材料领域的竞争力，25H1 公司 实现整体产品出货量同比增长超过20%。其中，节能和新能源汽车市场出货量同比增长超过30%，共 ...

重要新闻提示 横店东磁（002056）：上半年实现归母净利润10.2亿元，同比增长58.94%；拟每10股派发现金红利3.8 元（含税） 牧原股份：公司拟每10股派发现金红利9.32元（含税），分红总额为50.02亿元（含税） *ST亚振：股票交易停牌核查完成，8月21日复牌 1. 中国人民银行授权全国银行间同业拆借中心公布，8月20日贷款市场报价利率（LPR）为：1年期LPR 为3.0%，5年期以上LPR为3.5%，均与上期持平。 今日提示 今日有1287亿元7天期逆回购到期。 商务部今日举行新闻发布会，介绍近期商务领域重点工作有关情况。 《海南自由贸易港跨境资产管理试点业务实施细则》今起生效。 《广州商业性个人住房贷款转住房公积金个人住房贷款实施办法（暂行）》今起实施。 2025中国电解铝大会8月21日至23日在云南昆明举办。 智元机器人今日将召开首届合作伙伴大会。 财经新闻 公司新闻 1. 上市公司业绩 牧原股份：上半年实现营业收入764.63亿元，同比增长34.46%；实现归母净利润105.3亿元，同比增长 1169.77%。公司拟每10股派发现金红利9.32元（含税），分红总额为50.02亿元（含税 ...

财务报表中对有大幅变动的财务项目的原因说明如下：所得税费用变动幅度为-46.21%,原因:部分盈利子 公司利润弥补以前年度亏损不需计提缴纳企业所得税。经营活动产生的现金流量净额变动幅度 为-74.15%,原因:报告期销售商品、提供劳务收到的现金以及收到的税费返还均有减少。投资活动产生的 现金流量净额变动幅度为-119.11%,原因:收到其他与投资活动有关的现金净额同比减少。筹资活动产生 的现金流量净额变动幅度为69.13%,原因:偿还债务支付的现金同比减少较多。其他收益变动幅度为 51.48%,原因:本期确认的政府补助收益增加。投资收益变动幅度为-36.2%,原因:理财、定期存单收益减 少。资产减值损失变动幅度为-2003.07%,原因:确认的存货跌价损失增加。 据证券之星公开数据整理，近期英洛华(000795)发布2025年中报。截至本报告期末，公司营业总收入 17.34亿元，同比下降14.73%，归母净利润1.44亿元，同比上升0.52%。按单季度数据看，第二季度营业 总收入8.94亿元，同比下降21.46%，第二季度归母净利润7512.83万元，同比下降2.47%。本报告期英洛 华盈利能力上升，毛利率同 ...

据证券之星公开数据整理，近期正海磁材(300224)发布2025年中报。截至本报告期末，公司营业总收入 30.57亿元，同比上升20.42%，归母净利润1.13亿元，同比下降24.39%。按单季度数据看，第二季度营 业总收入15.99亿元，同比上升17.02%，第二季度归母净利润4361.58万元，同比下降39.06%。本报告期 正海磁材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1306.19%。 本次财报公布的各项数据指标表现一般。其中，毛利率12.07%，同比减25.61%，净利率3.79%，同比减 35.95%，销售费用、管理费用、财务费用总计7539.07万元，三费占营收比2.47%，同比减37.16%，每股 净资产4.35元，同比增1.31%，每股经营性现金流-0.36元，同比减65.65%，每股收益0.14元，同比减 22.22% | 项目 | 2024年中报 | 2025年中报 | 同比增幅 | | --- | --- | --- | --- | | 营业总收入(元) | 25.39 Z | 30.57 乙 | - 20.42% | | 归母浄利润（元） | 1.5亿 | 1.1 ...