机械设备/通用设备 铭利达（301268.SZ） 2025 年 08 月 29 日 投资评级：买入（维持） | 日期 | 2025/8/28 | | --- | --- | | 当前股价(元) | 24.19 | | 一年最高最低(元) | 24.86/13.15 | | 总市值(亿元) | 96.86 | | 流通市值(亿元) | 43.64 | | 总股本(亿股) | 4.00 | | 流通股本(亿股) | 1.80 | | 近 3 个月换手率(%) | 146.76 | 股价走势图 数据来源：聚源 -20% 0% 20% 40% 60% 80% 2024-08 2024-12 2025-04 铭利达 沪深300 相关研究报告 《海外汽车客户迎放量元年，经营拐 点 或 已 现 — 公 司 首 次 覆 盖 报 告 》 -2025.6.4 单 Q2 同环比扭亏为盈，经营拐点或已现 ——公司信息更新报告 | 殷晟路（分析师） | 王嘉懿（分析师） | | --- | --- | | yinshenglu@kysec.cn | wangjiayi@kysec.cn | | 证书编号：S0790522080001 ...

Company Overview - Zhongda Lide Intelligent Transmission Co., Ltd. is located in Cixi City, Ningbo, Zhejiang Province, established on August 28, 2006, and listed on August 29, 2017. The company specializes in the research, production, sales, and service of key components in the mechanical transmission and control application fields [1][2]. Financial Performance - For the first half of 2025, Zhongda Lide achieved operating revenue of 516 million yuan, representing a year-on-year growth of 2.08%. The net profit attributable to the parent company was 46.37 million yuan, up 6.50% year-on-year [2]. - Since its A-share listing, Zhongda Lide has distributed a total of 160 million yuan in dividends, with 61.98 million yuan distributed over the past three years [3]. Stock Performance - As of August 29, Zhongda Lide's stock price increased by 220.62% year-to-date, with a recent decline of 2.66% over the past five trading days. The stock has risen by 20.01% over the past 20 days and 63.61% over the past 60 days [1]. - The stock's trading volume on August 29 was 546 million yuan, with a turnover rate of 3.01% and a total market capitalization of 18.491 billion yuan [1]. Shareholder Structure - As of June 30, 2025, Zhongda Lide had 56,800 shareholders, an increase of 8.67% from the previous period. The average number of circulating shares per person was 3,459, up 19.63% [2]. - The top ten circulating shareholders include notable funds such as Penghua Carbon Neutral Theme Mixed A and Huaxia CSI Robot ETF, with some changes in their holdings compared to the previous period [3]. Business Segments - The company's main business revenue composition includes: intelligent execution units (38.49%), reduction motors (37.00%), precision reducers (22.41%), and other components (1.30%) [1]. - Zhongda Lide operates within the mechanical equipment sector, specifically in general equipment and metal products, and is involved in various concept sectors such as machinery, reducers, express delivery concepts, smart logistics, and engineering machinery [2].

据证券之星公开数据整理，近期华丰股份（605100）发布2025年中报。截至本报告期末，公司营业总收 入3.73亿元，同比下降33.1%，归母净利润1315.23万元，同比下降71.94%。按单季度数据看，第二季度 营业总收入1.52亿元，同比下降39.7%，第二季度归母净利润150.84万元，同比下降91.04%。本报告期 华丰股份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179.53%。 本次财报公布的各项数据指标表现不尽如人意。其中，毛利率10.82%，同比减29.25%，净利率3.52%， 同比减58.06%，销售费用、管理费用、财务费用总计1628.61万元，三费占营收比4.36%，同比增 14.52%，每股净资产10.63元，同比减2.5%，每股经营性现金流-0.08元，同比减108.01%，每股收益0.08 元，同比减71.43% | 项目 | 2024年中报 | 2025年中报 | 同比增幅 | | --- | --- | --- | --- | | 营业总收入(元) | 5.58亿 | 3.73亿 | -33.10% | | 归母净利润（元） | 4687.76万 | 131 ...

Group 1 - The core point of the article is that Weilon Co., Ltd. (SZ 002871) held its 15th meeting of the 5th Board of Directors on August 28, 2025, to review the agenda including the 2025 semi-annual report and its summary [1] - For the first half of 2025, the revenue composition of Weilon Co., Ltd. is as follows: valve sales accounted for 80.11%, valve parts and pipes accounted for 11.72%, mechanical castings and others accounted for 4.44%, and filters accounted for 3.72% [1]

（编辑 李家琪） 证券日报网讯 8月28日晚间，宏盛股份发布公告称，全资子公司无锡宏盛换热系统有限公司的日常经营 需求，在确保运作规范和风险可控的前提下，公司子公司拟向银行等金融机构申请综合授信额度，公司 拟为上述子公司提供连带责任保证担保，担保总额预计不超过人民币10，000万元，实际担保金额、担 保期限、担保方式等内容以与银行签订的担保合同为准，担保期限不超过1年。截至本公告披露日，公 司及子公司对外担保总额为12，628.03万元，占截止2024年12月31日经审计公司净资产的21.22%，无逾 期担保。 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company's net profit attributable to shareholders significantly improved in Q2 2025, with a quarter-on-quarter increase of 62%, and the order backlog at the end of Q2 stood at 580 million yuan [2] - In H1 2025, the company achieved revenue of 278 million yuan, a year-on-year increase of 8%, while the net profit attributable to shareholders decreased by 5% [2] - The revenue growth is primarily driven by stable demand in the container ship and automotive transport ship sectors [2] - The company has a strong position in the ventilation fan market, which accounted for nearly 80% of its revenue, and is actively expanding into the power transmission and transformation industry [3] Revenue and Profitability - For H1 2025, domestic revenue was 241 million yuan (up 12% year-on-year), while overseas revenue was 37 million yuan (down 8% year-on-year) [2] - The sales gross margin for H1 2025 was 28.75%, a slight decrease of 0.08 percentage points year-on-year, while the net profit margin was 10.41%, down 1.41 percentage points year-on-year [2] - The company’s revenue from ventilation fans in H1 2025 was 211 million yuan (up 8% year-on-year), representing 76% of total revenue [3] Market Demand and Growth Drivers - The demand in the rail transit, new energy, and marine engineering sectors is expected to expand, providing multiple growth drivers for the company [4] - The company is well-positioned to benefit from the ongoing investment in green transportation and the development of clean energy projects in China [4] - The marine engineering equipment sector is anticipated to see significant market demand, with the company maintaining good cooperation with major shipyards [4]

证券日报网讯 中泰股份8月28日发布公告，在公司回答调研者提问时表示，公司多年来致力于海外市场 的布局，目前已进入多家知名客户的供应商名单，并已通过多家知名工程公司的资质审核，由于国外业 主以及工程公司严格的审核体系，国内很少企业能进入其合格供应商名单；且通过持续的海外订单交 付，客户对公司产品以及品牌的认可度不断提升，竞争格局较为友好。在海外市场上公司主要对标全球 知名的欧美设备厂商，竞争环境较国内较为友好，随着海外订单占比不断提升，公司总体毛利向上的趋 势依旧存在。 （编辑 袁冠琳） ...

从股价来看，2025年7月20日至2025年7月31日，国机精工区间涨幅为14.67%，在此期间股东户数减少 7436.0户，减幅为16.74%。 证券之星消息，近日国机精工披露，截至2025年7月31日公司股东户数为3.7万户，较7月20日减少7436.0 户，减幅为16.74%。户均持股数量由上期的1.21万股增加至1.45万股，户均持股市值为28.1万元。 在通用设备行业个股中，国机精工股东户数高于行业平均水平，截至7月31日，通用设备行业平均股东 户数为2.94万户。户均持股市值方面，通用设备行业A股上市公司户均持股市值为19.41万元，国机精工 高于行业平均水平。 根据统计，国机精工2025年7月20日至2025年7月31日，主力资金净流入2.07亿元，游资资金净流出 9319.86万元，散户资金净流出1.14亿元。 ...

Group 1 - Xinhua Media achieved a net profit of 32.34 million yuan in the first half of 2025, a year-on-year increase of 9.29% [1] - Xinhua Media's operating income for the first half of 2025 was 631 million yuan, a year-on-year growth of 2.45% [1] - China Galaxy reported a net profit of 6.488 billion yuan, up 47.86% year-on-year, with an operating income of 137.47 billion yuan, a 37.71% increase [2] Group 2 - Lek Electric's net profit decreased by 29.01% to 428 million yuan, despite a slight revenue increase of 0.65% to 4.781 billion yuan [3] - Honghui Fruits and Vegetables reported a net profit of 6.9243 million yuan, down 44.82%, with revenue of 470 million yuan, up 7.86% [4] - Bull Group's net profit fell by 8% to 2.06 billion yuan, with a revenue decline of 2.6% to 8.168 billion yuan [5] Group 3 - Nanshan Aluminum achieved a net profit of 2.625 billion yuan, a year-on-year increase of 19.95%, with operating income of 17.274 billion yuan, up 10.25% [6] - Zhujiang Beer reported a net profit of 612 million yuan, a 22.51% increase, with revenue of 3.198 billion yuan, up 7.09% [8] - Baolong Technology's net profit decreased by 9.15% to 135 million yuan, with revenue growth of 24.06% to 3.95 billion yuan [10] Group 4 - Jindi Co. reported a net profit of 75.93 million yuan, a year-on-year increase of 32.86%, with operating income of 835 million yuan, up 40.57% [12] - China Vision Media turned a profit with a net profit of 19.9811 million yuan, compared to a loss of 18.4349 million yuan in the previous year, despite a revenue decline of 10.75% to 229 million yuan [14] - Botao Bio's net profit fell by 82.82% to 12.4024 million yuan, with revenue down 23.91% to 203 million yuan [16] Group 5 - Caitong Securities reported a net profit of 1.083 billion yuan, a year-on-year increase of 16.85%, with operating income of 2.959 billion yuan, down 2.19% [18] - Yili Group's net profit decreased by 4.39% to 7.2 billion yuan, with revenue growth of 3.49% to 61.777 billion yuan [19] - Springlight Technology achieved a net profit of 7.3787 million yuan, a year-on-year increase of 83.73%, with revenue of 251 million yuan, up 39.6% [20] Group 6 - China Haifeng reported a net profit of 94.5739 million yuan, a year-on-year increase of 25.48%, with operating income of 1.385 billion yuan, up 19.64% [21] - Zhongke Titanium White's net profit decreased by 14.83% to 259 million yuan, with revenue growth of 19.66% to 3.77 billion yuan [23] - Huasheng Tiancai turned a profit with a net profit of 14 million yuan, compared to a loss in the previous year, despite a revenue decline of 10.75% to 226 million yuan [25] Group 7 - Shen Zhou Cell reported a net loss of 33.7711 million yuan, with revenue down 25.50% to 972 million yuan [26] - Meihu Co. achieved a net profit of 101 million yuan, a year-on-year increase of 10.26%, with operating income of 1.075 billion yuan, up 10.74% [28] - Jifeng Technology plans to apply for a comprehensive credit of 170 million yuan to supplement working capital [29] Group 8 - Foton Motor reported a net profit of 777 million yuan, a year-on-year increase of 87.57%, with operating income of 30.371 billion yuan, up 26.71% [41] - BOE Technology achieved a net profit of 3.247 billion yuan, a year-on-year increase of 42.15%, with operating income of 110.278 billion yuan, up 8.45% [42] - CIMC reported a net profit of 1.278 billion yuan, a year-on-year increase of 47.63%, with operating income of 76.09 billion yuan, down 3.82% [43]

Core Viewpoint - Jiangsu Shentong announced its commitment to international expansion as a key strategy for enhancing company scale and promoting technological advancement [2] Company Strategy - The company is actively laying out its international business expansion based on an understanding of competitive dynamics in both domestic and international markets [2] - An international trade department has been established, and a team of experienced professionals has been formed to support this initiative [2] - External licensing and certification processes are nearly complete, and market channel development is progressing as planned [2] Future Focus - Future export efforts will concentrate on core areas such as petroleum refining and oil and gas extraction to achieve long-term development goals [2]