电气机械及器材制造业

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经典重温 | 反内卷:为何需关注地方政府?(申万宏观·赵伟团队)
申万宏源宏观· 2025-09-25 16:03
中央财经委会议提出"统一政府行为尺度",为"反内卷"赋予新内涵。相比过往,本轮 "内卷" 中地方政府 为何成为主要驱动因素,其行为逻辑具体表现在哪些制度性层面?系统分析,供参考。 一、本轮"反内卷",有何不同?政策更聚焦地方政府行为规范。 相较于 2015 年中央财经领导小组第十一次会议,2025 年中央财经委尤其强调对地方政府行为的规范。 对比两份通稿,后者更侧重规范地方政府行为,提出 "规范地方招商引资" 等具体举措。同时,会议将 "五统一、一破除" 调整为 "五统一、一开放",核心变化体现在地方政府行为规范尺度与对外开放维度。 上述差异的形成,一方面源于 2015 年产能过剩的全局性特征,另一方面与本轮 "内卷式" 竞争中地方政 府的深度参与直接相关。 2015 年问题源于 "四万亿" 刺激后上游产业过度投资及当时的房地产下行压 力;《求是》文章指出,本轮地方政府的行为表现为打造政策洼地、盲目上马项目、设置市场壁垒。 2021 年后,地方政府对中央转移支付的依赖度明显上升。中央对新兴行业的补贴与扶持成为地方政府争 夺的对象。 2022-2023 年,可再生能源电价附加支出超收入 3579 亿元,实为中央 ...
工业房地产投资反弹,今年1-8月广州投资增速显著领先全省
Nan Fang Du Shi Bao· 2025-09-25 08:43
Group 1 - Guangzhou's fixed asset investment recorded a year-on-year growth of 0.3% from January to August, significantly outperforming the provincial decline of 12.4% and aligning closely with the national growth of 0.5% [2] - Industrial investment in Guangzhou grew by 10.1% during the same period, with industrial technological transformation investment accelerating by 16.0% and automotive manufacturing investment increasing by 14.1%, particularly in the auto parts sector which saw a 39.4% rise [2] - Real estate development investment increased by 3.9%, driven by urban village renovation projects, while equipment and tool purchases grew by 12.0% due to large-scale equipment renewal policies [2] Group 2 - The automotive industry remains under pressure, with the industrial added value of the automotive manufacturing sector declining by 5.3%, although the decline has narrowed compared to previous months, and new energy vehicle production increased by 14.3% [2] - In terms of new economic drivers, the electrical machinery and equipment manufacturing sector grew by 10.4%, while specialized equipment manufacturing rose by 5.8%. The electronic components sector saw industrial added value growth of 17.4% [3] - The production of liquid crystal display modules and integrated circuits surged by 1.4 times and 14.7%, respectively, while the aerospace manufacturing and repair sectors experienced industrial added value growth of 20.1% and 18.0% [3]
凯中精密:9月10日召开董事会会议
Mei Ri Jing Ji Xin Wen· 2025-09-10 12:56
Group 1 - The company, Kaizhong Precision (SZ 002823), announced that its fifth board meeting will be held on September 10, 2025, to discuss the stock option incentive plan [1] - For the first half of 2025, the company's revenue composition shows that the electrical machinery and equipment manufacturing sector accounts for 89.93%, while other businesses make up 10.07% [1] - As of the report, Kaizhong Precision has a market capitalization of 5.5 billion yuan [1]
*ST亚振: 关于聘任2025年度会计师事务所的公告
Zheng Quan Zhi Xing· 2025-09-01 11:08
Core Viewpoint - The company has decided to appoint Zhongshun Yatai Accounting Firm as the auditor for the fiscal year 2025, replacing Tianjian Accounting Firm, after a thorough evaluation of its business needs and audit requirements [2][7]. Group 1: Auditor Information - Zhongshun Yatai was established in August 1988 and has undergone several name changes and structural reforms, currently operating as a special general partnership [1]. - The firm has 93 partners and 482 registered accountants, with over 180 accountants having signed audit reports for securities services [1]. - In the last audited year, Zhongshun Yatai reported total revenue of 703.98 million yuan, with audit service revenue of 682.03 million yuan and securities service revenue of 301.09 million yuan [1]. Group 2: Change of Auditor - The change in auditors is due to the completion of the signing period for the previous auditor, Tianjian, and the company's evolving business needs [2][7]. - The company has communicated with Tianjian regarding the change, and Tianjian has raised no objections [2][7]. - The decision to appoint Zhongshun Yatai was based on its professional qualifications, independence, and ability to meet the company's audit requirements for 2025 [8]. Group 3: Audit Committee and Board Approval - The audit committee reviewed and approved the appointment of Zhongshun Yatai on September 1, 2025, confirming its capability to provide professional audit services [8]. - The board of directors unanimously approved the proposal to appoint Zhongshun Yatai and will submit it for shareholder approval [8]. - The appointment will take effect upon approval by the company's shareholders [8].
森源电气:8月28日召开董事会会议
Mei Ri Jing Ji Xin Wen· 2025-08-28 18:46
Group 1 - The company, Senyuan Electric (SZ 002358), held its seventh meeting of the eighth board of directors on August 28, 2025, to review proposals including the revision of corporate governance related systems [1] - For the first half of 2025, Senyuan Electric's revenue composition was as follows: 83.16% from electrical machinery and equipment manufacturing, 14.24% from sanitation industry services, and 2.59% from other businesses [1]
富佳股份:8月25日召开董事会会议
Mei Ri Jing Ji Xin Wen· 2025-08-25 13:33
Group 1 - The core viewpoint of the article is that Fujia Co., Ltd. (SH 603219) held its third fifth board meeting on August 25, 2025, to review the semi-annual report and summary for 2025 [1] - For the year 2024, Fujia Co., Ltd.'s revenue composition shows that the electrical machinery and equipment manufacturing industry accounts for 96.9%, while other businesses make up 3.1% [1] - As of the report, Fujia Co., Ltd. has a market capitalization of 11.7 billion yuan [1] Group 2 - The A-share market has seen trading volumes exceed 2 trillion yuan for eight consecutive days, indicating strong market activity [1] - Major brokerage firms are actively recruiting for the autumn season, with 25 job positions available, highlighting the industry's demand for talent [1]
九江市京富星科技有限公司成立,注册资本300万人民币
Sou Hu Cai Jing· 2025-08-22 04:49
Company Overview - Recently, Jiujiang Jingfuxing Technology Co., Ltd. was established with a registered capital of 3 million RMB [1] - The legal representative of the company is Cai Debao, and it is wholly owned by Kebi Hui Technology (Wuxi) Co., Ltd. [1] Business Scope - The company's business scope includes technology services, development, consulting, exchange, transfer, and promotion [1] - It also involves manufacturing and sales of electrical accessories, household appliances, plastic products, hardware products, rubber products, and packaging materials [1] - Additionally, the company is engaged in the remanufacturing of automotive parts, excluding projects that require approval [1] Industry Classification - The company is classified under the manufacturing industry, specifically in the electrical machinery and equipment manufacturing sector [1] - The address of the company is located in the Furong Mountain Industrial Park, Jiujiang City, Jiangxi Province [1] Company Type and Registration - Jiujiang Jingfuxing Technology Co., Ltd. is categorized as a limited liability company, with no natural person investment or control [1] - The business registration is valid until August 21, 2025, with no fixed term thereafter [1] - The registration authority is the Market Supervision Administration of Duchang County [1]
长城电工股价上涨1.75% 半年度业绩说明会即将召开
Sou Hu Cai Jing· 2025-08-20 15:10
Group 1 - The stock price of Changcheng Electric reported at 11.60 yuan as of August 20, 2025, with an increase of 1.75% compared to the previous trading day [1] - The trading volume on that day was 479,750 hands, with a transaction amount of 560 million yuan [1] - The company is primarily engaged in the manufacturing of electrical machinery and equipment, belonging to the power grid equipment sector [1] Group 2 - Changcheng Electric is registered in Gansu Province and is associated with the concept of central state-owned enterprise reform [1] - The company announced a semi-annual performance briefing scheduled for August 27, 2025, from 11:00 to 12:00 [1] - On August 20, the net inflow of main funds was 34.41 million yuan, while the cumulative net outflow over the past five trading days was 318.87 million yuan [1]
政策加码对冲需求放缓,量价再平衡谋修复
China Post Securities· 2025-08-18 03:31
Economic Growth - In July, the economic growth rate is estimated to be 5.3%, a decrease of 0.4 percentage points from the previous value[1] - Consumption showed a slight marginal slowdown, while investment continued to decline, increasing the drag on economic growth[1] - Real estate investment is nearing its bottom, indicating ongoing challenges in the sector[1] Consumer Behavior - The year-on-year growth rate of social retail sales in July was 3.7%, down 1.1 percentage points from the previous value and lower than the expected 4.87%[11] - Consumer budget constraints remain cautious, with the marginal propensity to consume at 65.52%, a decrease of 0.08 percentage points from the previous year[16] - Upgrading consumption remains stable, with jewelry and cosmetics showing year-on-year growth rates of 8.2% and 4.5%, respectively[19] Investment Trends - Fixed asset investment growth rate for January to July was 1.6%, below the expected 2.68% and down 1.2 percentage points from the previous value[21] - Real estate investment saw a year-on-year decline of 12%, indicating ongoing pressure in the housing market[22] - Infrastructure investment growth rates were 3.2% for narrow definitions and 7.29% for broad definitions, both showing declines from previous values[21] Policy Implications - Incremental consumption policies are expected to boost retail sales growth by approximately 0.62%[28] - The "anti-involution" policy aims to improve price levels, with a focus on achieving a balance between quantity and price to enhance industrial profits[30] - Risks include escalating geopolitical conflicts and the possibility that policy effects may not meet expectations[31]
长城电工股价下跌3.5% 半年度亏损同比扩大38.5%
Jin Rong Jie· 2025-08-15 21:00
Core Viewpoint - The company, Changcheng Electric, reported a decline in revenue and an increase in net loss for the first half of 2025, indicating financial challenges ahead [1]. Financial Performance - For the first half of 2025, the company achieved an operating revenue of 694 million yuan, a year-on-year decrease of 6.31% [1]. - The net profit attributable to shareholders was -112 million yuan, with a year-on-year loss increase of 38.51% [1]. - The company's asset-liability ratio reached 76.64%, up 4.71 percentage points compared to the same period last year [1]. Market Activity - As of August 15, 2025, the stock price of Changcheng Electric was 11.30 yuan, down 3.5% from the previous trading day [1]. - The trading volume on that day was 631,093 hands, with a transaction amount of 708 million yuan, resulting in a turnover rate of 14.29% [1]. - On August 15, there was a net outflow of main funds amounting to 23.21 million yuan, with a cumulative net outflow of 109 million yuan over the past five days [1]. Company Overview - Changcheng Electric operates in the electrical machinery and equipment manufacturing industry, with products including medium and high voltage switchgear, bus ducts, and power electronic devices [1]. - The actual controller of the company is the Gansu Provincial State-owned Assets Supervision and Administration Commission, indicating it is a local state-owned enterprise [1].