根据该公司测算，在港口起重机械领域，市占率仍有较大提升空间，增量市场可进一步提升公司盈利水 平。在聚焦主业的同时，华伍股份也在积极利用技术同源优势，拓展新的应用领域。例如，石油开采设 备面临的恶劣工况对其制动系统的安全性、可靠性要求极高，这与公司的技术特长高度契合，成为公司 后续布局的领域之一。新业务的培育将为公司中长期发展储备新的动能，丰富产品品类，提升盈利能 力。 矿卡制动器成为新的增长点 2月27日，江西华伍制动器股份有限公司(以下简称"华伍股份（300095）")在接受调研时表示："矿卡制 动器业务是公司今后几年的重点发展业务，也将是公司利润增长的重要贡献方面，近期公司湿式制动器 产品的首个批量订单顺利取得，实现新春开门红。公司将全力以赴保质保量交付订单。" 近年来，该公司坚持聚焦主业、技术创新、市场拓展战略，传统业务稳健增长，矿卡制动器等新兴赛道 实现突破，为高质量发展注入强劲动能。 深耕工业制动器领域 华伍股份主要从事工业制动器及其控制系统的研发、制造和销售，产品广泛应用于各类起重机械、矿山 机械、风力发电等领域。公司创建至今，已有30多年的历史，始终专注于工业制动器领域的发展。该公 司从起重机械 ...

证券代码：300095 证券简称：华伍股份 江西华伍制动器股份有限公司投资者关系活动记录表 编号：2026-002 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 ☐ 其他（请文字说明其他活动内容） 参与单 位名称 宝盈基金、山西证券 时间 2026年2月25日 地点 江西省丰城市高新技术产业园区火炬大道26号 上市公 司接待 人员姓 名 副总经理、董事会秘书胡仁绸 投资者 关系活 动主要 内容介 绍 一、参观厂区 参观公司展厅、生产车间、实验车间和厂区，观看公司矿卡湿式 制动器产品装配、生产过程。 二、公司情况介绍 公司主要从事工业制动器及其控制系统的研发、制造和销售，产 品广泛应用于各类起重机械、矿山机械、风力发电等领域。公司创建 至今，已有30多年的历史，始终专注于工业制动器领域的发展。公司 从起重机械领域出发，不断拓展工业制动器产品运用领域，在港口机 械、风电发电、水利工程、海上重工等运用领域，先后走在行业前列。 2025年，公司主业持续向好，主营业务盈利能力进一步提升。然 而公司公布的2025年度业绩预告出现合并报表口径 ...

Group 1 - The company, Huawu Co., Ltd. (300095.SZ), is a leading industrial brake supplier in China, with products widely used in major domestic ports [2] - The company maintains long-term business cooperation with key domestic port customers and port machinery manufacturers, having provided reliable products and services for several large automated terminal upgrade projects, such as Yantian Port and Rizhao Port [2] - The construction of the Hainan Free Trade Port is a significant national strategy, and the automation and efficiency upgrades of its ports will create new market opportunities [2] Group 2 - The company will actively monitor the progress of related projects and maintain close communication with partners to provide quality solutions for industry clients [2] - The participation in specific projects is subject to various factors, including the public bidding process, which introduces uncertainty [2] - Relevant information should be based on official announcements from the bidding parties or the company [2]

Group 1: Company Overview and Financial Performance - Jiangxi Huawu Brake Co., Ltd. has been engaged in the research, development, manufacturing, and sales of industrial brakes since its establishment in 1992, focusing on innovation and industry upgrades [1] - In the first three quarters of 2025, the company achieved a revenue of CNY 994 million, representing a year-on-year growth of 16.55%, and a net profit attributable to shareholders of CNY 41.21 million, up 70.84% [1] - The main revenue and profit contributions come from the industrial brake segment, particularly in the port and metallurgy sectors, which continue to show steady growth [1] Group 2: Market Expansion and Product Innovation - The company is focusing on customer-oriented strategies and increasing R&D efforts, particularly in smart and digital product innovations [2] - A dedicated project team has been established for the mining truck brake market, which has significant growth potential and currently faces limited domestic competition [2] - The company aims to enhance its overseas market presence, particularly through the optimization of its Swiss subsidiary and partnerships with domestic manufacturers for overseas aftermarket development [2] Group 3: Customer Relationship Management - The company maintains long-term relationships with customers by co-developing core components and ensuring technical support [3] - Emphasis is placed on product quality and comprehensive service throughout the sales process, with a focus on rapid response to customer needs [3] - The company prioritizes customer satisfaction and problem-solving over pricing considerations, ensuring alignment with customer demands [3] Group 4: Environmental and Social Responsibility - The company adheres to environmental protection requirements and implements necessary measures as per regulatory standards [4] - It maintains good relationships with partners, suppliers, and employees while engaging in social responsibility initiatives [4] - Future plans include advancing ESG (Environmental, Social, and Governance) initiatives, focusing on social responsibility and corporate governance [4]

Core Insights - Company reported a revenue of 627 million yuan for the first half of 2025, marking a year-on-year growth of 12.41%, primarily driven by the industrial brake business which saw a revenue increase of 17.42% [1][2] - Net profit decreased by 28.29% to 16.89 million yuan, attributed to losses from subsidiaries and pressures from wind power pricing [1][2] Revenue Growth and Profitability Challenges - The industrial brake core business was the main revenue driver with a 17.42% increase [2] - Net profit decline was mainly due to two factors: a loss of 16.35 million yuan from the aviation subsidiary Ande Technology and a loss of 7.32 million yuan from the wind brake subsidiary Changsha Tianying [2] - Despite a 37.35% revenue growth in the wind brake sector, the gross margin fell to -2.38%, a decrease of 8.21 percentage points year-on-year, impacting overall profitability [2] Technological Advancements and Global Expansion - Company is focusing on breakthroughs in traditional and new sectors, with significant orders in the port machinery sector showcasing its leading position in heavy equipment brake technology [3] - The rail transit sector has achieved domestic breakthroughs with the HEP15 brake system and wet brake for mining vehicles [3] - International expansion is accelerating, with the Swiss subsidiary successfully entering the Siemens wind power supply chain, increasing overseas revenue share to 13.9% [3] Strategic Restructuring and Efficiency Improvement - Company is optimizing its business structure by divesting non-core assets and focusing resources on the brake business [4] - Efforts are being made to enhance technology and reduce costs through smart manufacturing and lean production, with a stabilization of gross margins in the wind brake sector [4] - The company is advancing its global strategy, using the Swiss subsidiary as a foothold for market certification in Europe and Asia [4]

Financial Performance - The company reported a net loss of 293 million yuan in 2024, a decrease of 585.32% year-on-year [2] - The main reasons for the loss include: - Significant decline in gross margin due to intense price competition in the wind brake business [2] - Provision for goodwill impairment of 224 million yuan, primarily related to Ande Technology [2] - Underperformance of subsidiaries such as Changsha Tianying and Huawu Rail Transit [2] - In Q1 2025, the company achieved a revenue of 278 million yuan, with a net profit attributable to shareholders of 9.88 million yuan [3] Strategic Focus - The management is committed to implementing strategic initiatives to focus on core industrial brake business and enhance reforms [2] - The company aims to strengthen traditional advantages while actively cultivating new growth points for high-quality development [2] Market Expansion - The company is prioritizing overseas market expansion, particularly in countries along the "Belt and Road" initiative [2] - Participation in major exhibitions and establishment of a spare parts warehouse and maintenance station in Singapore to enhance brand recognition [2] - Plans to improve global marketing network layout and increase overseas sales proportion in 2025 [2] Technological Innovation - The company emphasizes technological innovation to enhance market competitiveness, focusing on product integration, electrification, automation, and intelligence [3] - Continuous investment in R&D and collaboration with academic institutions to maintain technological leadership [3] Environmental Compliance - The company is not classified as a major air pollution discharge unit and will continue to comply with environmental regulations [3] - Regular audits to ensure compliance with environmental laws and effective management of pollution emissions [3] Product Development - The company is committed to developing new products with a focus on integration, intelligence, and digitalization [3] - New products are increasingly becoming the main supporting products for clients, enhancing core competitiveness [3] Raw Material Management - The company has implemented measures to mitigate the impact of raw material price fluctuations, including comprehensive budget management and cost control [3] - Monitoring of raw material price trends to optimize procurement timing and improve material utilization efficiency [3] Future Growth Points - Continued investment in R&D to integrate industrial brake systems with AI, enhancing product performance and reliability [4] - Focus on traditional sectors such as port machinery, metallurgy, and water conservancy, while also exploring new markets in robotics and other emerging fields [4]