11月19日，华菱精工跌5.03%，截至发稿，报14.73元/股，成交7351.19万元，换手率3.64%，总市值 19.64亿元。 诺安多策略混合A（320016）基金经理为孔宪政。 截至发稿，孔宪政累计任职时间4年359天，现任基金资产总规模56.08亿元，任职期间最佳基金回报 95.2%， 任职期间最差基金回报-16.74%。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 责任编辑：小浪快报 资料显示，宣城市华菱精工科技股份有限公司位于安徽省宣城市郎溪县梅渚镇郎梅路，成立日期2005年 9月7日，上市日期2018年1月24日，公司主营业务涉及电梯配重产品、钣金产品等电梯配件的研发、生 产和销售。主营业务收入构成为：对重块31.98%，钣金件31.26%，电梯绳19.67%，光伏支架7.25%，电 梯补偿缆4.23%，其他3.19%，制动器2.42%。 从华菱精工十大流通股东角度 数据显示，诺安基金旗下1只基金位居华菱精工十大流通股东。诺安多策略混合A（320016 ...

Core Viewpoint - Hualing Precision Technology Co., Ltd. has experienced a significant decline in revenue and profit in the first half of the year, prompting concerns about its future strategic adjustments and operational performance [2][3][4]. Financial Performance - In the first half of the year, Hualing Precision reported a revenue of 445 million yuan, a year-on-year decrease of 20.48%, primarily due to a decline in market orders and sales prices [3]. - The net profit attributable to shareholders was -46.11 million yuan, a decrease of 17.39% year-on-year, while the net profit excluding non-recurring items was -46.29 million yuan, down 20.32% [3][4]. - The company's operating cash flow was -48.38 million yuan, although this was an improvement from -76.20 million yuan in the same period last year [4]. Market Conditions - The elevator parts industry is facing increased competition and a slowdown in demand, particularly influenced by the downturn in the real estate market [3][4]. - Hualing Precision's revenue from elevator parts was 380 million yuan, which constitutes its primary revenue source [3]. Strategic Adjustments - The company plans to actively seek new business opportunities and markets while reducing external investments and optimizing idle assets to enhance competitiveness and profitability [2][4]. - Hualing Precision aims to expand into new energy sectors, including wind power components and photovoltaic support structures, to find new growth points [5][6]. Recent Developments - The company recently terminated its planned private placement and control change, which was influenced by changes in the capital market environment and internal strategic considerations [6][7]. - The termination of the private placement means that the proposed acquisition of control by a specific partner will not proceed, maintaining the current control structure [7].

Core Points - Hualing Precision Technology Co., Ltd. has revised its company articles of association as of October 2025 to enhance corporate governance and protect stakeholder rights [1][2] - The company was approved by the China Securities Regulatory Commission for its initial public offering of 33.34 million shares on December 28, 2017, and was listed on the Shanghai Stock Exchange on January 24, 2018 [1] - The registered capital of the company is RMB 133.34 million, and its business scope includes the development, manufacturing, and sales of elevator components, steel structures, and elevator installation and maintenance [1] Shareholder and Shareholder Meeting - The revised articles clarify shareholder rights and obligations, including dividend distribution, participation in shareholder meetings, and oversight of company operations [2] - The shareholder meeting is the company's authority body, responsible for electing directors and approving profit distribution plans, with specific procedures for convening, proposing, notifying, and voting [2] Board of Directors - The board consists of seven directors and is accountable to the shareholder meeting, with powers to convene meetings, execute resolutions, and determine operational plans [2] - The chairman is elected by a majority of the board and presides over meetings, with clear regulations on the qualifications, duties, and resignation of directors [2] - The company has established independent directors and specialized committees to enhance oversight and professional decision-making [2] Senior Management - The company appoints one president and several vice presidents, with a term of three years, and they must adhere to relevant regulations and fulfill their duties faithfully [2] - Comprehensive regulations are in place regarding financial accounting, profit distribution, auditing, notifications, mergers, and amendments to the articles of association [2] - The revision of the articles is expected to further improve governance and ensure stable development for the company [2]

Group 1 - The core point of the article is that Hualing Precision Engineering held a board meeting to discuss amendments to the "Board Secretary Work Rules" and reported its revenue composition for the first half of 2025 [1] - Hualing Precision Engineering's revenue for the first half of 2025 is primarily derived from elevator components, which account for 85.49% of total revenue, followed by photovoltaic brackets at 7.25%, other industries at 4.28%, and wind power brakes at 2.98% [1] - As of the report date, Hualing Precision Engineering has a market capitalization of 1.7 billion yuan [1]

Core Points - Hualing Precision Engineering has terminated its plan for a private placement of A-shares, which also ends the control change agreement with Shangrao Juzhun [2] - The company’s major shareholder remains Huang Yehua, with the actual controllers being Huang Yehua, Ma Xiping, and Huang Chao, all from the same family [2] - The company had previously approved a plan to issue up to 400 million shares, which would have made Shangrao Juzhun the controlling shareholder, but the issuance application was never submitted to the stock exchange [2][3] Financial Performance - Hualing Precision Engineering has experienced significant revenue decline since 2021, with total revenue dropping from 2.234 billion yuan in 2021 to 1.1217 billion yuan in 2024, representing a year-on-year decrease of 27.80% [4] - The company has reported continuous losses in net profit, with a net loss of 1.576 billion yuan in 2024, worsening from previous years [4] - The company’s non-recurring net profit has also shown a downward trend, with losses increasing from 399,000 yuan in 2021 to 1.5067 billion yuan in 2024 [4] Market Position - As of September 27, Hualing Precision Engineering's market capitalization stands at 1.735 billion yuan [5] - The company primarily engages in the research, production, and sales of elevator, garage, and wind power brake components, with elevator parts contributing nearly 90% of its revenue [3]

Core Viewpoint - The stock price of Hualing Precision Engineering has decreased, reflecting challenges in its financial performance and market conditions [1] Company Summary - Hualing Precision Engineering's stock price is reported at 13.34 yuan, down by 0.51 yuan from the previous trading day, with a trading volume of 61,306 hands and a transaction amount of 0.83 billion yuan [1] - The company specializes in the research, development, production, and sales of elevator counterweight products and sheet metal products, with applications in the elevator manufacturing sector and involvement in renewable energy fields such as wind and solar power [1] Financial Performance - According to the company's 2025 semi-annual report, it achieved an operating revenue of 4.45 billion yuan, representing a year-on-year decline of 20.48% [1] - The net profit attributable to shareholders of the listed company was -0.46 billion yuan, indicating an expanded loss compared to the same period last year [1] - The basic earnings per share were reported at -0.35 yuan [1]

Core Viewpoint - The company reported a significant decline in revenue and incurred losses in 2024, primarily due to industry slowdown, reduced market orders, intensified competition, and impairment of goodwill from acquisitions [3][21][24]. Group 1: Company Financial Performance - In 2024, the company achieved operating revenue of 1.121 billion yuan, a decrease of 27.8% compared to the previous year [3][21]. - The company recorded a net loss of 158 million yuan, attributed to decreased revenue, lower gross margins, and impairment losses on goodwill and fixed assets [3][21][24]. - The gross profit margin declined due to falling product prices and reduced sales orders [21][24]. Group 2: Operational Highlights - The board of directors conducted regular meetings and adhered to legal regulations, ensuring effective governance and decision-making [3][5]. - The company implemented a share repurchase plan, acquiring shares worth 80.03 million yuan during the reporting period [12][21]. - The company plans to issue up to 40 million shares to specific investors, aiming to raise no more than 453.2 million yuan for working capital and debt repayment [12][19]. Group 3: Governance and Compliance - The board and supervisory committee actively monitored compliance with laws and regulations, ensuring the protection of shareholder rights [10][18]. - The supervisory committee raised concerns regarding potential misconduct by senior management and recommended legal action [10][19]. - The company disclosed 140 temporary announcements during the reporting period, enhancing transparency and compliance with information disclosure obligations [11][18]. Group 4: Future Outlook - The company aims to achieve a sales revenue target of 1.2 billion yuan in 2025, reflecting a strategic focus on recovery and growth [24]. - The board will continue to enhance corporate governance and investor relations to improve market perception and operational efficiency [12][19].

Core Viewpoint - In 2024, the company experienced a decline in both revenue and net profit, attributed to intensified competition in the elevator parts industry and challenges in the military simulation sector [2][3] Financial Performance - The company reported total revenue of 469 million yuan in 2024, a year-on-year decrease of 6.80% - The net profit attributable to shareholders was 9.96 million yuan, down 87.80% year-on-year - In Q1 2025, revenue fell by 25.86% to 54.24 million yuan, with a net profit of -15.13 million yuan, indicating a shift from profit to loss [2][3] Business Segments - The company has established a dual business model focusing on elevator control systems and military simulation products, with the latter contributing significantly to profits in 2024 - Excluding the military simulation segment, the elevator control systems reported a net loss of 6.96 million yuan [2][3] Industry Challenges - The elevator parts industry is facing unprecedented challenges, including fierce competition and seasonal downturns, impacting overall revenue and profit [2][3] - The military simulation business is characterized by a unique industry nature, leading to fewer contract verifications and revenue generation [3] Strategic Developments - The company acquired a controlling stake in Beijing Lingwei Junrong Technology Co., Ltd., enhancing its dual business structure [2] - The military simulation segment focuses on developing products for aviation combat training, with a key product being the portable general digital air combat simulation system [3] Integration and Collaboration - The company is working on integrating resources between its existing operations and the newly acquired military simulation business, aiming for efficient resource allocation [3][4] - A new facility for the military simulation segment has been established, facilitating collaborative R&D efforts in various technical areas [3] Future Focus - The company plans to enhance its elevator control systems by developing new products and exploring IoT-based intelligent monitoring solutions - The military simulation segment aims to upgrade its product platform by incorporating large language models to improve performance and usability [5]

Group 1 - The company has formed a dual business structure focusing on "elevator control system-related products and military simulation system products" following the completion of the acquisition of Lingwei Junrong [1] - In 2024, the company achieved operating revenue of 469 million yuan, a decrease of 6.80% compared to the previous year, primarily due to a downturn in the real estate market affecting the elevator and elevator parts industry [1] - The company anticipates challenges in the elevator parts sector due to insufficient demand, overcapacity, and intensified competition, which have negatively impacted revenue and profits [1] Group 2 - The military simulation market is projected to grow significantly, with the global market expected to reach 121.6 billion dollars by 2027, and China's military simulation software market anticipated to exceed 20 billion yuan [2] - The company's products are primarily used in tactical training for aviation troops and aviation equipment support, with ongoing integration efforts between the company and Lingwei Junrong to leverage resource advantages [2] - A new 1,700 square meter facility for Lingwei Junrong has been established, focusing on collaborative R&D in areas such as cockpit data collection systems and load control systems [2] Group 3 - The collaboration between the company and Lingwei Junrong enhances hardware product competitiveness through the integration of the company's electromechanical product capabilities and Lingwei Junrong's advanced software simulation technology [3] - This partnership is expected to drive advancements in the military simulation industry and create greater market value and competitive advantages for the company in the future [3]

Group 1 - The company held its 2024 online performance briefing on May 19, 2025, to discuss operational performance and future plans with investors [1][2] - In 2024, the company achieved revenue of 469,138,106.22 yuan, a decrease of 6.80% compared to the previous year, primarily due to challenges in the real estate market affecting the elevator and elevator parts industry [1] - The company has established a dual business model focusing on "elevator control system products and military simulation system products" following the acquisition of Lingwei Military Simulation [1][2] Group 2 - The profit distribution plan for 2024 includes a cash dividend of 0.30 yuan per 10 shares, totaling 8,759,713.20 yuan, to be distributed within two months after the meeting [1] - The company is optimistic about fulfilling its performance commitments for 2025 and is actively working on integrating resources with Lingwei Military Simulation [1][2] - Future development will focus on enhancing the elevator control system product line and exploring IoT-based remote monitoring in the elevator sector, as well as upgrading military simulation products using large language models [2]