为落实以投资者为本的理念，推动持续优化经营、规范治理和积极回报投资者， 株洲欧科亿数控精密刀具股份有限公司(以下简称"欧科亿"或"公司")于2025 年 4月26日发布了《2025年度"提质增效重回报"专项行动方案》。2025年上半年， 公司根据行动方案内容，积极开展和落实相关工作，并认真评估实施效果，现将2025 年度"提质增效重回报"专项行动方案的半年度评估情况报告如下： 欧科亿持续专注于硬质合金切削刀具的研发、生产和销售，致力于高端数控刀 具国产化和进口替代，为市场提供专业优质产品和服务，为全球制造提供切削解决 方案。 属于上市公司股东的净利润77.54万元，同比下降98.71%。报告期内，公司数控刀 具产品实现营业收入为30,611.39万元，同比下降4.69%；硬质合金制品实现营业 收入28,307.01万元，同比增长11.25%。报告期内，公司数控刀具产业园项目产能 利用率较低；同时，固定资产折旧增加，材料成本大幅上升，期间费用率同比上升， 因此，归属于上市公司股东的净利润同比下降。 公司以市场需求为导向，以技术创新为引领，通过完善组织架构、拓展销售渠 道、强化内部管理等多维度举措，推动公司各项业 ...

我们预计公司2025 -2027 年实现营业收入10.10/11.71/13.90 亿元，同比+33.01%/+16.03%/+18.62%；实现 归母净利润为1.69/2.18 /2.74亿元，同比+57.90%/+29.35%/+25.55%，当前股价对应 PE 34/26/21倍，维 持"买入"评级。 风险提示 优化海内外渠道拓展，积极布局航空航天、机器人等新兴领域刀具产品。1）市场开拓方面，公司优化 升级"经销+直销"双轮驱动销售体系，推动产品宣传、渠道建设、客户服务及销售团队的转型。公司对 内在强化经销网络的同时，着力加大直销团队建设与重点客户开发力度，促使技术研发与服务能力持续 增强，目前已经一些重点行业重点客户达成合作；对外加速布局海外市场，完善海外渠道，2025H1 公 司实现海外营收0.28 亿元，同比增长20.62%。2）产品研发方面，公司面向航空航天、机器人等领域对 刀具切削应用和加工精度的需求，加大相关刀具的研究开发力度，已在耐热合金加工用涂层刀具研究开 发方面及精密零部件切削刀具开发方面取得了一定成果。上半年在机器人等行业精密零部件加工刀具研 究与开发中，公司完成3 项刀片型号的开发 ...

Core Insights - The company reported a total revenue of 519 million yuan for H1 2025, representing a year-on-year increase of 26.48% [1] - The net profit attributable to shareholders reached 85 million yuan, up 18.80% year-on-year [1] - The company achieved a non-recurring net profit of 84 million yuan, reflecting an 18.32% year-on-year growth [1] Financial Performance - In Q2 2025, total revenue was 297 million yuan, showing a year-on-year growth of 23.65% and a quarter-on-quarter increase of 33.73% [1] - The net profit attributable to shareholders for Q2 was 56 million yuan, which is a 2.72% year-on-year increase and a significant 92.43% quarter-on-quarter growth [1] - The non-recurring net profit for Q2 was also 56 million yuan, with a year-on-year growth of 2.26% and a quarter-on-quarter increase of 96.97% [1] Market Dynamics - The improvement in performance is attributed to a recovery in downstream demand, enhanced product performance, and the completion of a previous equity incentive plan, which eliminated related costs [2] - The company has accelerated its overseas market expansion, with overseas revenue growing by 20.62% year-on-year in H1 2025 [2] Strategic Initiatives - The company is actively investing in emerging fields such as robotics and high-precision cutting tools, responding to demands in aerospace and robotics [2] - In H1 2025, the company completed the development of three blade models, with two already in testing [2] - The company is enhancing its capabilities in CNC tool research and has developed a collaborative development ability for CNC blades and bodies, improving overall product competitiveness [2] Future Projections - Revenue projections for 2025-2027 are 1.031 billion yuan, 1.284 billion yuan, and 1.509 billion yuan, respectively, with net profits of 182 million yuan, 248 million yuan, and 340 million yuan [3] - Corresponding price-to-earnings ratios are expected to be 31.75, 23.22, and 16.95 times for the respective years [3] - The company is well-positioned to capitalize on the recovery of the manufacturing sector and the restructuring of the industry chain, which is expected to drive continued rapid growth in operating performance [3]

6月23日，浙江欣兴工具股份有限公司(以下简称：欣兴工具)深市创业板IPO获受理。随着数控机床市场 加速转型升级，刀具市场的需求量与性能要求同步迎来快速提升。受下游市场需求持续增长驱动，孔加 工和螺纹加工刀具细分领域的市场规模保持扩张态势。欣兴工具作为孔加工刀具的钻削刀具产品核心供 应商，2024年环形钻削系列产品产能利用率与产销率分别达96.02%和101.47%，公司在产能接近饱和的 状态下仍维持高产销率，致使现有生产布局、设施及场地已无法满足业务持续增长需求，推进扩产计划 与新产品开发成为公司进一步拓展市场的迫切任务。 招股书显示，欣兴工具本次募投核心项目精密数控刀具夹具数字化工厂建设项目，拟投入募集资金5.60 亿元，建设期3年，募投项目投产后将形成500万件/年螺纹刀具、100万件/年可换刀头式刀具、45万件/ 年整体硬质合金钻头、15万件/年精密夹具产品产能。募投项目紧密围绕公司现有主营业务，依托国家 产业政策导向与行业发展趋势，以现有技术体系为支撑实施投资布局，是对主营业务的战略性拓展。产 能扩建项目投产后，将有效缓解公司现有产品产能瓶颈，优化产品结构组合，进一步提升整体经营规模 与综合竞争实力 ...

Core Viewpoint - Zhejiang Xinxing Tool Co., Ltd. has initiated its IPO process on the ChiNext board, with a focus on precision CNC tool manufacturing and a projected revenue of 467 million yuan and net profit of 185 million yuan for 2024 [1][3]. Financial Performance - The company expects to achieve revenues of 391 million yuan, 425 million yuan, and 467 million yuan from 2022 to 2024, with net profits of 172 million yuan, 177 million yuan, and 185 million yuan respectively [3][4]. - The gross profit margins are projected to be 58.06%, 57.10%, and 56.49% for the same period, significantly higher than the industry average of 44.93%, 41.51%, and 38.25% [3][4]. Market Position - Xinxing Tool ranks first in sales volume for steel plate drill products among domestic tool manufacturers, as certified by the China Machine Tool Industry Association [3][6]. - The company's products are utilized in major projects such as the Qinshan Nuclear Power Station and the Shanghai Maglev Train project, with key clients including China National Railway and Bosch [3][5]. Research and Development - The company has invested a total of 65.18 million yuan in R&D from 2022 to 2024, representing approximately 5.21%, 5.15%, and 4.90% of its revenue [5][6]. - Xinxing Tool has been granted 146 patents, including 33 invention patents, and has played a role in establishing two national industry standards [5][7]. Ownership Structure - The Zhu Dongwei family controls 92.65% of the company's shares, with Zhu Dongwei serving as the chairman and general manager [8].

General Provisions - The purpose of the work guidelines is to standardize company behavior and clarify the responsibilities and authority of the board secretary, in accordance with relevant laws and regulations [2] - The board secretary is a senior management position responsible to the company and the board of directors, subject to the same regulations as other senior management [2] Qualifications - The board secretary must possess essential professional knowledge and experience, and should be a director, general manager, deputy general manager, or financial officer [3] - The qualifications include knowledge in finance, taxation, law, finance, and corporate management, along with good personal qualities and communication skills [3] Responsibilities - The board secretary is responsible for information disclosure, ensuring compliance with disclosure regulations, and managing investor relations [4] - Duties include organizing board meetings, assisting in establishing internal control systems, and managing shareholder information [4] - The board secretary must also ensure that directors and senior management fulfill their duties and report any violations [4] Appointment and Dismissal Procedures - The board secretary is nominated by the chairman and appointed by the board of directors [6] - The board must terminate the appointment within one month if the secretary is unable to perform duties or violates regulations [6] - A confidentiality agreement must be signed upon appointment, and the company must report the dismissal to the stock exchange [6] Transition and Interim Management - Before leaving, the board secretary must undergo a review and transfer relevant documents and responsibilities [7] - An interim representative must be appointed to fulfill the duties of the board secretary during any vacancy [7] Miscellaneous - The guidelines take effect upon approval by the board and will be interpreted by the board [8]

欧科亿首次公开发行股票的发行费用为6637.27万元，其中，保荐承销费用4917.95万元。 欧科亿保荐机构民生证券安排依法设立的另类投资子公司民生证券投资有限公司参与本次发行的战略配 售，民生证券投资有限公司为民生证券全资子公司，跟投比例为本次公开发行股票的5%，即125万股， 获配金额为2998.75万元，民生证券投资有限公司本次跟投获配股票的限售期为24个月。 中国经济网北京6月9日讯欧科亿(688308.SH)近日披露的2025年第一季度报告显示，报告期内，该公司 实现营业收入3.02亿元，同比增长14.32%；实现归属于上市公司股东的净利润766.32万元，同比下降 74.33%；实现归属于上市公司股东的扣除非经常性损益的净利润126.48万元，同比下降90.54%；经营活 动产生的现金流量净额为-1.26亿元，上年同期为-1.33亿元。 2022年至2024年，欧科亿实现营业收入分别为10.55亿元、10.26亿元和11.27亿元，实现归属于上市公司 股东的净利润分别为2.42亿元、1.66亿元和5730.24万元，实现归属于上市公司股东的扣除非经常性损益 的净利润分别为2.25亿元、1.30亿元 ...