编号：2025-002 证券代码：300034 证券简称：钢研高纳 北京钢研高纳科技股份有限公司投资者关系活动记录表 投资者关系活动 类别 √特定对象调研 □分析师会议 □媒体采访 □业绩说明会 □新闻发布会 □路演活动 □现场参观 □电话会议 □其他： （请文字说明其他活动内容） 参与单位名称 及人员姓名 西部证券:温晓 鹏华基金:张卓然 时间 2025 年 9 月 18 日 地点 钢研高纳会议室 公司接待人员 姓名 财务总监、董事会秘书:刘彬 规划证券投资部:何晓珂 投资者关系活动 主要内容介绍 一、公司高温合金业务主要分为哪几类？ 答：公司高温合金业务主要分为三大类别，分别是铸造合金制品、变形 合金制品和新型合金制品，其中新型合金制品包含粉末高温合金、精细 高温合金、金属间化合物等。 二、公司民品和军品的收入占比大概是多少？ 答：从收入结构上看，公司军品业务收入占比约 60%左右，民品业务收 入占比约 40%左右。 三、请介绍下控股子公司青岛新力通未来发展 答：青岛新力通以"专业化、品牌化、国际化"为核心导向，聚焦战略 性新兴业务突破，不仅持续稳固国内石化市场龙头地位，更着力加快国 际市场布局步伐。20 ...

Core Viewpoint - Tokyo stock market indices rebounded on September 18, with the Nikkei 225 rising by 1.15% and the Tokyo Stock Exchange Price Index increasing by 0.41% due to encouragement from the Federal Reserve's interest rate cut announcement [1] Market Performance - The Nikkei index closed up by 513.05 points at 45303.43 points, while the Tokyo Stock Exchange index rose by 13.04 points to 3158.87 points [1] - Early trading saw a slight increase in indices, followed by profit-taking that led to a temporary decline, before the market rebounded [1] Sector Analysis - Semiconductor-related stocks such as Advantest, Tokyo Electron, and Discus showed significant gains, contributing to the rise in the Nikkei index [1] - Among the 33 industry sectors on the Tokyo Stock Exchange, sectors like electrical products, non-ferrous metals, and metal products saw notable increases, while sectors such as electric and gas utilities, other products, and air transportation experienced declines [1]

Core Viewpoint - Shandong Weida's stock has experienced fluctuations, with a year-to-date increase of 41.80% but a recent decline of 3.96% over the last five trading days, indicating volatility in investor sentiment and market conditions [1]. Company Overview - Shandong Weida Machinery Co., Ltd. is located in Weihai, Shandong Province, and was established on July 8, 1998, with its listing date on July 27, 2004. The company specializes in the research, production, and sales of various products including drill chucks, electric tool switches, powder metallurgy parts, precision castings, saw blades, machine tools and accessories, as well as smart manufacturing system integration and equipment [1]. - The main business revenue composition includes: electric tool accessories (52.00%), other products (26.29%), powder metallurgy parts (6.90%), automation equipment (4.63%), machine tools (3.04%), others (2.86%), new energy vehicle battery swap stations (2.26%), and saw blade products (2.01%) [1]. Financial Performance - As of June 30, 2025, Shandong Weida reported a revenue of 914 million yuan, a year-on-year decrease of 15.37%, while the net profit attributable to shareholders increased by 9.31% to 158 million yuan [2]. - The company has distributed a total of 504 million yuan in dividends since its A-share listing, with 138 million yuan distributed over the past three years [3]. Shareholder Information - As of June 30, 2025, the number of shareholders for Shandong Weida was 34,800, a decrease of 21.18% from the previous period, while the average circulating shares per person increased by 26.88% to 12,295 shares [2]. - Notable new institutional shareholders include: Bosera Credit Bond A/B (050011) holding 3.84 million shares, Bosera New Income Mixed A (002095) with 3.21 million shares, and Guangfa Small and Medium Cap Selected Mixed A (005598) with 2.27 million shares [3].

Group 1 - The core viewpoint of the news is that Minglida's stock has experienced fluctuations, with a year-to-date increase of 38% but a recent decline of 4.90% over the last five trading days [1] - As of September 18, Minglida's stock price was 22.88 CNY per share, with a market capitalization of 9.161 billion CNY [1] - The company has seen a net outflow of 4.88 million CNY in principal funds, with significant selling activity [1] Group 2 - For the first half of 2025, Minglida reported a revenue of 1.526 billion CNY, representing a year-on-year growth of 37.95% [2] - The net profit attributable to the parent company for the same period was -31.7354 million CNY, showing a year-on-year increase of 67.31% [2] - The number of shareholders increased by 2.74% to 12,700 as of August 31, while the average circulating shares per person decreased by 2.66% to 14,209 shares [2] Group 3 - Since its A-share listing, Minglida has distributed a total of 240 million CNY in dividends [3] Group 4 - Minglida is primarily engaged in the design, research and development, production, and sales of precision structural components and molds, with its main revenue sources being precision die-casting structural components (50.77%), profile stamping structural components (27.02%), and precision injection molding structural components (20.72%) [1] - The company is classified under the machinery equipment industry, specifically in general equipment and metal products, and is associated with concepts such as photovoltaic glass, Huawei concept, machine vision, liquid cooling concept, and margin trading [1]

Company Overview - Henan Hengxing Technology Co., Ltd. is located in Gongyi City, Henan Province, established on July 12, 1995, and listed on April 27, 2007 [2] - The company specializes in the production and sales of metal products including galvanized steel wire, galvanized steel strand, steel cord, rubber hose steel wire, prestressed steel strand, and diamond wire [2] - The revenue composition of the main business includes: chemical products 28.18%, prestressed steel strand 21.17%, steel cord 20.45%, galvanized steel strand 15.51%, rubber hose steel wire 6.88%, diamond wire 4.38%, galvanized steel wire 2.08%, and other products 1.36% [2] Financial Performance - As of September 10, the number of shareholders is 61,000, a decrease of 0.16% from the previous period, with an average of 22,942 circulating shares per person, an increase of 0.16% [2] - For the first half of 2025, the company achieved operating revenue of 2.436 billion yuan, a year-on-year decrease of 0.67%, while the net profit attributable to the parent company was 21.376 million yuan, a year-on-year increase of 111.08% [2] Stock Performance - On September 18, the stock price of Hengxing Technology fell by 2.14%, trading at 3.65 yuan per share, with a total transaction volume of 120 million yuan and a turnover rate of 2.33%, resulting in a total market value of 5.116 billion yuan [1] - Year-to-date, the stock price has increased by 35.54%, with a decline of 2.67% over the last five trading days and a decrease of 6.41% over the last 20 days, while it has risen by 3.02% over the last 60 days [1] - The company has appeared on the "Dragon and Tiger List" three times this year, with the most recent appearance on April 2, where the net buying was -30.5271 million yuan, with total buying of 58.792 million yuan, accounting for 6.41% of total trading volume, and total selling of 89.3191 million yuan, accounting for 9.75% of total trading volume [1] Dividend Information - Hengxing Technology has cumulatively distributed 662 million yuan in dividends since its A-share listing, with 203 million yuan distributed in the last three years [3]

9月18日，应流股份盘中上涨2.04%，截至10:59，报33.06元/股，成交3.98亿元，换手率1.82%，总市值 224.49亿元。 资金流向方面，主力资金净流出1655.69万元，特大单买入1982.22万元，占比4.98%，卖出2223.26万 元，占比5.58%；大单买入8271.53万元，占比20.76%，卖出9686.18万元，占比24.31%。 应流股份今年以来股价涨135.64%，近5个交易日涨2.80%，近20日涨18.24%，近60日涨47.92%。 截至6月30日，应流股份股东户数2.26万，较上期增加5.56%；人均流通股30095股，较上期减少5.27%。 2025年1月-6月，应流股份实现营业收入13.84亿元，同比增长9.11%；归母净利润1.88亿元，同比增长 23.91%。 分红方面，应流股份A股上市后累计派现5.58亿元。近三年，累计派现2.50亿元。 机构持仓方面，截止2025年6月30日，应流股份十大流通股东中，泉果旭源三年持有期混合A （016709）位居第二大流通股东，持股3278.99万股，持股数量较上期不变。香港中央结算有限公司位 居第三大流通股东，持股32 ...

Core Viewpoint - Liou Co., Ltd. has shown significant stock price growth and trading activity, indicating strong market interest and potential investment opportunities [1][2]. Company Performance - As of September 18, Liou's stock price increased by 2.06% to 6.44 CNY per share, with a total market capitalization of 43.61 billion CNY [1]. - Year-to-date, Liou's stock price has risen by 110.39%, with a 5.92% increase over the last five trading days, 36.73% over the last 20 days, and 89.97% over the last 60 days [1]. - For the first half of 2025, Liou reported a revenue of 9.635 billion CNY, a year-on-year decrease of 9.62%, while net profit attributable to shareholders increased by 164.28% to 478 million CNY [2]. Shareholder Information - As of June 30, 2025, the number of Liou's shareholders decreased by 10.49% to 508,800, while the average number of tradable shares per person increased by 11.72% to 11,497 shares [2]. - The company has distributed a total of 766 million CNY in dividends since its A-share listing, with 395 million CNY distributed in the last three years [3]. Trading Activity - Liou has appeared on the trading leaderboard 20 times this year, with the most recent instance on September 10, where it recorded a net buy of 412 million CNY [1]. - The major funds showed a net outflow of 1.0333 million CNY, with significant buying and selling activity from large orders [1]. Business Segments - Liou's main business segments include media agency services (75.15% of revenue), machinery manufacturing (20.98%), digital marketing services (1.95%), metal materials trading (0.96%), and other services (0.67%) [1].

Core Viewpoint - Changsheng Bearing has shown significant stock performance with a year-to-date increase of 231.99%, indicating strong market interest and potential growth in the mechanical equipment sector [1][2]. Group 1: Stock Performance - As of September 18, Changsheng Bearing's stock price reached 101.11 CNY per share, with a trading volume of 5.01 billion CNY and a market capitalization of 30.21 billion CNY [1]. - The stock has experienced a 2.07% increase during the trading session, with a recent 5-day increase of 8.25%, 20-day increase of 4.74%, and a 60-day increase of 43.42% [1]. - The company has appeared on the "Dragon and Tiger List" seven times this year, with the most recent net purchase of 383 million CNY on July 21 [1]. Group 2: Financial Performance - For the first half of 2025, Changsheng Bearing reported a revenue of 618 million CNY, reflecting a year-on-year growth of 11.03%, and a net profit attributable to shareholders of 126 million CNY, up 9.22% year-on-year [2]. - The company has distributed a total of 697 million CNY in dividends since its A-share listing, with 344 million CNY distributed over the past three years [3]. Group 3: Shareholder Information - As of June 30, 2025, the number of shareholders for Changsheng Bearing was 68,500, a decrease of 13.36% from the previous period, while the average number of circulating shares per shareholder increased by 15.42% to 2,828 shares [2]. - Notable changes in institutional holdings include Hong Kong Central Clearing Limited as the ninth largest shareholder, reducing its holdings by 1.28 million shares, while Southern CSI 1000 ETF entered as a new shareholder with 1.10 million shares [3].

Core Insights - The article highlights the complexities of the opening auction process in the stock market, emphasizing the strategic maneuvers of institutional investors versus retail investors during the critical 10-minute period from 9:15 to 9:25 AM [1][2]. Group 1: Auction Phases - The auction period is divided into two phases: from 9:15 to 9:20 AM, where orders can be canceled, and from 9:20 to 9:25 AM, where orders become irrevocable [1][2]. - During the first phase, a high cancellation rate of 40% is noted, indicating potential manipulation by institutional investors who may place large orders to create false price movements [1][2]. - The second phase requires that all buy orders at or above the determined opening price and sell orders at or below that price are executed, with a focus on maximizing transaction volume [2][4]. Group 2: Case Studies - A case study of Ning Shui Group illustrates how institutional investors can manipulate prices by placing large orders and then retracting them, leading to retail investors being trapped at inflated prices [5]. - Another example involves Fengxing Co., where continuous selling created panic, resulting in a higher actual transaction price than displayed, demonstrating psychological tactics in trading [5]. - The case of Huayu Mining shows how sudden large orders can signal strong institutional control, leading to significant price increases [6]. Group 3: Trading Strategies and Indicators - The article discusses the importance of observing order cancellations before 9:20 AM as a signal of potential price movements, while after 9:20 AM, the focus should shift to the changes in unmatched buy and sell orders [10]. - A 5% rule is introduced, where if the auction volume exceeds 5% of the previous day's volume, it indicates institutional involvement, while lower percentages may suggest less credible movements [9]. - The article advises caution against aggressive pricing strategies, as orders that exceed the price limits are deemed invalid, and emphasizes the need for calm decision-making during the auction phase to avoid emotional trading [12][14].

分红方面，钢研高纳A股上市后累计派现7.60亿元。近三年，累计派现2.77亿元。 机构持仓方面，截止2025年6月30日，钢研高纳十大流通股东中，富国中证军工龙头ETF（512710）位 居第三大流通股东，持股919.17万股，相比上期增加329.92万股。香港中央结算有限公司位居第四大流 通股东，持股911.65万股，相比上期增加255.28万股。国泰中证军工ETF（512660）位居第七大流通股 东，持股555.40万股，相比上期增加100.96万股。南方中证1000ETF（512100）位居第九大流通股东， 持股441.69万股，为新进股东。易方达创业板ETF（159915）退出十大流通股东之列。 责任编辑：小浪快报 融券方面，钢研高纳9月17日融券偿还1900.00股，融券卖出0.00股，按当日收盘价计算，卖出金额0.00 元；融券余量11.66万股，融券余额189.24万元，超过近一年80%分位水平，处于高位。 资料显示，北京钢研高纳科技股份有限公司位于北京市海淀区大柳树南村19号，成立日期2002年11月8 日，上市日期2009年12月25日，公司主营业务涉及从事航空航天、电力、汽车、冶金、玻璃制 ...