研发攻坚打开长期增长空间 公司以"技术突破"为核心战略，高研发投入与产学研协同推动产品迭代，截至2025 年6 月30 日，公司 累计申请境内外知识产权共计 118 项 ，已获授权 89 项 ，有效专利 67项 （其中发明专利32 项）。2025 年上半年，公司新增 1 项基体材料牌号、1 项PVD 涂层材料、4 项PVD 涂层工艺及1 项CVD 涂层工 艺，并在高精密3C 行业刀具、新型铣钻系列刀具、微小径整体刀具、机器人精密零部件加工刀具等多 个方向完成开发或批量测试。此外，在研项目涵盖航空难加工材料切削刀具涂层、高温条件下切削硬质 材料性能改性、硬质合金材料信息数据库与集成计算平台建设等，均处于中试或小试阶段，目标是提升 刀具寿命、性能稳定性与开发效率。 高端刀具国产替代领军，核心技术实力强劲 切削刀具是机械制造的基础环节，占机械加工工作量约90%，在汽车、模具、通用机械、能源装备、轨 道交通及航空航天等领域不可或缺。中国刀具行业市场规模在2016 年至2023 年间呈现波动增长趋势， 2023 年中国刀具行业市场规模达到492 亿元，增速为6.12%.全球高端刀具长期由欧美及日韩厂商垄断， 但近年来国 ...

2025 年 09 月 25 日 高端刀具国产替代加速，研发突破打开成长空间 —华锐精密（688059.SH）公司动态研究报告 买入(首次) 投资要点 分析师：尤少炜 S1050525030002 yousw@cfsc.com.cn | 基本数据 | 2 0 2 5-0 9-2 4 | | --- | --- | | 当前股价（元） | 78.46 | | 总市值（亿元） | 68 | | 总股本（百万股） | 87 | | 流通股本（百万股） | 87 | | 52 周价格范围（元） | 40.22-83.11 | | 日均成交额（百万元） | 131.15 | 市场表现 资料来源：Wind，华鑫证券研究 -50 0 50 100 150 200 (%) 华锐精密 沪深300 相关研究 ▌高端刀具国产替代领军，核心技术实力强劲 切削刀具是机械制造的基础环节，占机械加工工作量约 90%，在汽车、模具、通用机械、能源装备、轨道交通及航空 航天等领域不可或缺。中国刀具行业市场规模在 2016 年至 2023 年间呈现波动增长趋势，2023 年中国刀具行业市场规模 达到 492 亿元，增速为 6.12%.全球高端刀 ...

Company Overview - Oukeyi Precision Tool Co., Ltd. is located in Hunan Province, established on January 23, 1996, and listed on December 10, 2020. The company specializes in the research, production, and sales of CNC tool products and hard alloy products [1] - The main revenue composition includes CNC tool products (50.72%), hard alloy products (46.91%), other supplementary products (1.49%), and other products (0.88%) [1] Stock Performance - On September 22, Oukeyi's stock rose by 5.13%, reaching a price of 23.76 CNY per share, with a trading volume of 122 million CNY and a turnover rate of 3.34%. The total market capitalization is 3.773 billion CNY [1] Fund Holdings - According to data, the Everbright Pramerica Fund holds a significant position in Oukeyi, with the Everbright Pramerica Hengxin Mixed A Fund (013980) owning 9,000 shares, accounting for 1.37% of the fund's net value, making it the fourth-largest holding [2] - The Everbright Pramerica Hengxin Mixed A Fund was established on November 30, 2021, with a latest scale of 6.9011 million CNY. Year-to-date returns are 15.14%, ranking 5068 out of 8244 in its category, while the one-year return is 34.46%, ranking 4672 out of 8066 [2]

Company Overview - Oukeyi Precision Tool Co., Ltd. is located in Hunan Province, China, and was established on January 23, 1996. The company went public on December 10, 2020. Its main business involves the research, production, and sales of CNC tools and hard alloy products [1] - The revenue composition of the company is as follows: CNC tools account for 50.72%, hard alloy products for 46.91%, other supplementary products for 1.49%, and other products for 0.88% [1] Stock Performance - On September 19, Oukeyi's stock price fell by 5.06%, closing at 22.12 CNY per share, with a trading volume of 57.91 million CNY and a turnover rate of 1.61%. The total market capitalization is 3.512 billion CNY [1] Fund Holdings - According to data, the Everbright Pramerica Fund holds a significant position in Oukeyi, with the Everbright Pramerica Hengxin Mixed A Fund (013980) owning 9,000 shares, representing 1.37% of the fund's net value, making it the fourth-largest holding. The estimated floating loss today is approximately 10,600 CNY [2] - The Everbright Pramerica Hengxin Mixed A Fund was established on November 30, 2021, with a current scale of 6.9011 million CNY. Year-to-date returns are 15.21%, ranking 5012 out of 8172 in its category, while the one-year return is 35.35%, ranking 4619 out of 7980 [2]

Company Overview - Oukeyi Precision Tool Co., Ltd. is located in Hunan Province, established on January 23, 1996, and listed on December 10, 2020. The company specializes in the research, production, and sales of CNC tools and hard alloy products [1] - The main revenue composition includes CNC tools at 50.72%, hard alloy products at 46.91%, other products at 1.49%, and miscellaneous products at 0.88% [1] Stock Performance - On September 17, Oukeyi's stock rose by 5.46%, reaching a price of 21.84 CNY per share, with a trading volume of 76.52 million CNY and a turnover rate of 2.29%. The total market capitalization is 3.468 billion CNY [1] Fund Holdings - Wanji Fund has a significant holding in Oukeyi, with its fund "Wanji High-end Equipment Quantitative Stock Mixed Initiation A" (020560) holding 18,700 shares, accounting for 2.01% of the fund's net value, making it the sixth-largest holding [2] - The fund has a total scale of 8.7935 million CNY and has achieved a year-to-date return of 28.92%, ranking 2928 out of 8172 in its category. Over the past year, the return is 66.12%, ranking 1882 out of 7980 [2] Fund Manager Information - The fund manager of Wanji High-end Equipment Quantitative Stock Mixed Initiation A is Yin Hang, who has been in the position for 5 years and 60 days. The total asset size of the fund is 468 million CNY, with the best return during his tenure being 59.74% and the worst being -8.76% [3]

Core Viewpoint - The company will participate in the 2025 Hunan Listed Companies Investor Online Reception Day and Semi-Annual Performance Briefing to enhance interaction with investors [1] Group 1 - The event will be held online on September 19, 2025, from 14:00 to 17:00 [1] - Investors can participate through the "Panjing Roadshow" website, WeChat public account, or by downloading the Panjing Roadshow APP [1] - Company executives will discuss the company's performance from 2024 to 2025, governance, development strategy, operational status, equity incentives, and sustainable development during the event [1]

2009年末，公司整体搬迁至哈尔滨开发区迎宾路集中区。新公司占地面积5.17万平方米，建筑面积6.4万平方米，员工近500人，总资产6亿元，拥有主要生产 设备、仪器400台（套）。 近日，齐鲁晚报·齐鲁壹点记者从信用中国（黑龙江）获悉，哈尔滨第一工具制造有限公司因发票违法，被哈尔滨市税务局第二稽查局罚款31万元。 哈尔滨第一工具制造有限公司是国内外知名的刀具专业制造企业，其前身哈尔滨第一工具厂始建于1948年，1950年由沈阳迁至哈尔滨市。 新闻热线电话0531-85193242 ...

随着受理关口的打开，不少此前折戟的IPO项目正奔往沪深市场。 信风注意到，今年以来获得受理的惠科股份有限公司、南通联亚药业股份有限公司、浙江欣兴工具股份有限公司（下称"欣兴工具"）等 项目，均是二度冲刺沪深IPO。 欣兴工具正是从主板转战至创业板，业绩已足具规模。 2022年至2024年，欣兴工具的收入分别为3.91亿元、4.25亿元和4.67亿元，同期净利润分别为1.72亿元、1.77亿元和1.85亿元。 欣兴工具前度IPO过程中备受诟病处在于其100%股权均由实控人家族持有，给内控制度的有效性等带来挑战。 为此，欣兴工具已通过引入外部股东将实控人家族的持股比例降低至92.65%，为此番IPO扫清股权结构争议。 不过仍有问题待解。 欣兴工具实控人与其第一大客户海盐三环进出口有限公司（下称"三环进出口"）实控人吴月生等当地的企业联合开设了海盐欣兴小额贷 款有限公司（下称"欣兴小贷"）。 不仅如此，欣兴工具的部分供应商亦与欣兴小贷有着业务往来。 扫清股权集中障碍？ 早在2023年6月，欣兴工具就曾向上交所递交主板上市申请，但历时1年多后便主动撤单。 相比前度IPO，欣兴工具此番准备确实更为充分。 一方面，欣兴工 ...

Core Viewpoint - Huarui Precision (688059.SH) experienced a significant stock price increase, reaching a new high since April 2023, attributed to a price adjustment announcement for its CNC tool products due to rising production costs from raw material price hikes and supply shortages [1] Company Summary - Huarui Precision's stock price rose over 6% during trading, reaching 75.2 yuan, marking a new high since April 2023 [1] - The company announced a price increase of over 15% for its CNC tool series products, effective from September 1, 2025, in response to significant increases in production costs due to market supply fluctuations and imbalances [1] Industry Summary - The hard alloy raw materials have been experiencing substantial price increases and supply tightness, impacting the overall production costs within the industry [1] - The decision to raise prices is aimed at maintaining normal production and operational stability while ensuring product quality [1]

Core Viewpoint - Huarui Precision (688059.SH) experienced a significant stock price increase, reaching a new high since April 2023, due to a product price adjustment announcement in response to rising raw material costs [1] Group 1: Company Actions - Huarui Precision announced a price increase of over 15% for its CNC tool series products, effective from September 1, 2025 [1] - The decision was made after careful consideration of market conditions and the company's operational situation [1] Group 2: Market Conditions - The price increase is attributed to substantial rises in hard alloy raw material costs, driven by market supply fluctuations and supply-demand imbalances [1] - The company is facing significant increases in production costs due to tight market supply [1]