证券之星消息，9月5日轨交设备板块较上一交易日上涨1.24%，雷尔伟领涨。当日上证指数报收于 3812.51，上涨1.24%。深证成指报收于12590.56，上涨3.89%。轨交设备板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 301016 | 雷尔伟 | 19.14 | 10.32% | 11.96万 | 2.21亿 | | 605298 | 必得科技 | 36.30 | 10.00% | 5.46万 | 1.90亿 | | 600458 | 时代新材 | 15.35 | 7.79% | 37.53万 | 5.63亿 | | 688367 | 工大高科 | 20.17 | 6.83% | 4.48万 | 8756.54万 | | 688015 | 交控科技 | 23.53 | 5.28% | 4.95万 | 1.15亿 | | 300351 | 永慧电器 | 17.50 | 3.55% | 10.80万 | 1.86亿 | | 300011 | 鼎汉技术 | 8.25 ...

标配 （维持） 出口加速助发展，科技成长迎突破 机械设备行业 2025 半年报业绩综述 投资要点： 2025 年 9 月 5 日 分析师：谢少威 SAC 执业证书编号： S0340523010003 电话：0769-23320059 邮箱： xieshaowei@dgzq.com.cn 细分行业评级 | 工程机械 | 标配 | | --- | --- | | 自动化设备 | 标配 | 机械设备（申万）指数走势 资料来源：iFind，东莞证券研究所 相关报告 证 券 研 究 报 告 ◼ 机械设备：盈利能力增强，现金流明显改善。2025上半年申万机械设备板块 营收、归母净利润分别同比+7.45%、+19.09%。2025Q2，营收为5447.52亿元， 同比增长5.21%，环比增长19.05%；归母净利润为422.19亿元，同比增长 15.14%，环比增长26.92%。从季度来看，营收、归母净利润保持稳定增长趋 势。盈利能力方面，2025上半年机械设备行业毛利率、净利率分别同比提升 0.06pct、0.86pct。2025Q2，毛利率为23.46%，同比提升0.43pct，环比提升 0.67pct；净利率为8.2 ...

证券之星消息，9月4日轨交设备板块较上一交易日下跌0.74%，必得科技领跌。当日上证指数报收于 3765.88，下跌1.25%。深证成指报收于12118.7，下跌2.83%。轨交设备板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 603500 | 祥和实业 | 11.12 | 3.35% | 26.26万 | | 2.95亿 | | 688485 | 九州一轨 | 13.38 | 1.75% | 2.81万 | | 3763.84万 | | 300851 | 交大思诺 | 27.22 | 1.64% | 1.33万 | | 3608.67万 | | 688367 | 工大高科 | 18.88 | 1.51% | 2.62万 | | 4888.89万 | | 605001 | 威奧股份 | 7.43 | 1.23% | 7.98万 | | 5951.20万 | | 300594 | 朗讲科技 | 17.37 | 1.22% | 4.90万 | | 8532.0 ...

沪市公司半年报还显示，消费潜能持续释放，食品饮料、家用电器等消费行业公司营业收入、净利润同 比分别增长12%、2%，成为稳增长的重要支撑。传统产业转型升级是发展新质生产力的重要一极，沪 市钢铁、机械设备等行业以技术创新突破"内卷式"困局，向高附加值领域跃升，净利润同比增长 235%、21%。 此外，沪市公司中期分红再创新高。上半年408家沪市公司宣告中期分红，现金分红总额达5552亿元， 同比分别增长12%、5%。14家公司分红金额超百亿元。在研发投入方面，实体企业研发投入合计4326 亿元，同比增长1%；科创板公司研发投入总额841亿元，同比增长6%，研发投入占比中位数13%，持续 领跑A股各板块。(经济日报记者马春阳) 2025年上半年，沪市公司合计实现营业收入24.68万亿元，同比微降1.3%；净利润2.39万亿元，同比增 长1.1%；扣非后净利润2.29万亿元，同比增长0.7。季度间保持上升势头，第二季度营业收入、净利润 环比分别增长6.1%、0.1%。 从业绩增长的贡献度看，制造业基本盘稳固。制造业营业收入、净利润同比分别增长3.9%、7.1%，增 长值占剔除非银金融后的整体比重分别为78%、50% ...

Core Viewpoint - The stock of Times Electric has experienced fluctuations, with a recent decline of 2.01% on September 4, 2023, and a total market capitalization of 62.22 billion yuan. The company is involved in the research, design, manufacturing, and sales of rail transit equipment, with a significant portion of its revenue coming from this sector [1][2]. Company Overview - Times Electric, established on September 26, 2005, and listed on September 7, 2021, is located in Zhuzhou, Hunan Province. The company specializes in rail transit equipment, including traction conversion systems, rail engineering machinery, and communication signal systems. Its revenue composition is 56.58% from rail transit equipment, 42.94% from emerging equipment, and 0.48% from other sources [1][2]. Financial Performance - For the first half of 2025, Times Electric reported a revenue of 12.21 billion yuan, reflecting a year-on-year growth of 18.77%. The net profit attributable to shareholders was 1.67 billion yuan, marking a 10.93% increase compared to the previous year [2]. Shareholder Information - As of June 30, 2025, Times Electric had 21,800 shareholders, a decrease of 11.12% from the previous period. The average number of circulating shares per shareholder increased by 13.09% to 13,443 shares [2]. Dividend Distribution - Since its A-share listing, Times Electric has distributed a total of 4.51 billion yuan in dividends, with 3.24 billion yuan distributed over the past three years [3]. Institutional Holdings - As of June 30, 2025, the second-largest circulating shareholder is Hong Kong Central Clearing Limited, holding 15.95 million shares, a decrease of 4.56 million shares from the previous period. Other notable shareholders include Huaxia SSE STAR 50 ETF and E Fund SSE STAR 50 ETF, with varying changes in their holdings [3].

| 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 605298 | 必得科技 | 34.89 | 4.15% | 8.28万 | | 2.87亿 | | 688367 | 工大高科 | 18.60 | 1.81% | 3.42万 | | 6315.33万 | | 603111 | 康尼机电 | 7.77 | 1.17% | 38.59万 | | 2.97亿 | | 688015 | 交控科技 | 23.15 | 1.09% | 4.94万 | | 1.15亿 | | 920027 | 交大铁发 | 29.86 | -0.60% | 1.20万 | | 3585.45万 | | 600458 | 时代新材 | 14.13 | -0.77% | 10.42万 | | 1.47亿 | | 6888889 | 铁科轨道 | 22.30 | -0.80% | 1.02万 | | 2290.07万 | | 688009 | 中国通号 | 5.44 | -1.27% | 41.28万 | | 2 ...

Group 1 - The stock price of Jiao Da Si Nuo decreased by 2.21% on September 3, reaching 27.02 CNY per share, with a total market value of 2.349 billion CNY [1] - The company has seen a year-to-date stock price increase of 3.64%, but a decline of 3.15% over the last five trading days and 8.25% over the last twenty days [1] - Jiao Da Si Nuo's main business involves the research, design, production, sales, and technical support of key equipment for train operation control systems, with revenue composition including 42.10% from responder systems, 26.11% from locomotive signal CPU components, and 24.76% from track circuit readers [1] Group 2 - As of August 29, the number of shareholders for Jiao Da Si Nuo was 8,739, a decrease of 4.48%, while the average circulating shares per person increased by 4.69% to 6,191 shares [2] - For the first half of 2025, Jiao Da Si Nuo reported a revenue of 128 million CNY, a year-on-year decrease of 18.48%, and a net profit attributable to shareholders of 12.1868 million CNY, down 51.64% year-on-year [2] - The company has distributed a total of 196 million CNY in dividends since its A-share listing, with 106 million CNY distributed over the past three years [3]

证券之星消息，9月2日轨交设备板块较上一交易日下跌0.35%，交控科技领跌。当日上证指数报收于 3858.13，下跌0.45%。深证成指报收于12553.84，下跌2.14%。轨交设备板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 603500 | 祥和实业 | 11.64 | 5.63% | 45.76万 | 5.38亿 | | 872541 | 铁大科技 | 17.01 | 2.78% | 4.35万 | 7300.24万 | | 605298 | 必得科技 | 33.50 | 2.13% | 9.67万 | 3.29亿 | | 603111 | 康尼机电 | 7.68 | 1.32% | 35.08万 | 2.70亿 | | 300011 | 鼎汉技术 | 8.32 | 0.60% | 20.70万 | 1.72亿 | | 920027 | 交大铁发 | 30.04 | 0.30% | 1.50万 | 4494.77万 | | 601766 | 中国中车 | 7.61 ...

Core Viewpoint - The overall profitability growth of A-share listed companies is slowing down due to continuous price declines and weak effective demand, despite some improvements in revenue [1][2] Profitability Analysis - The net profit growth of listed companies has narrowed, with quarterly net profit growth rates for 2024Q4, 2025Q1, and 2025Q2 being -15.7%, 3.2%, and 1.2% respectively [2] - Non-financial oil and petrochemical sectors show even more significant declines, with quarterly net profit growth rates of -50.2%, 4.5%, and -0.1% for the same periods [2] Revenue Trends - A-share companies have seen an improvement in quarterly revenue growth compared to 2025Q1, with growth rates of 1.4%, -0.3%, and 0.4% for 2024Q4, 2025Q1, and 2025Q2 respectively [2] - Non-financial oil and petrochemical sectors also show improved revenue growth rates of 1.2%, 0.5%, and 0.9% for the same quarters [2] Sector Performance - Key sectors showing improved profitability include healthcare, midstream manufacturing, and financial real estate, with information technology leading in profit growth [4] - The quarterly profit growth rates for 2025Q2 are ranked as follows: Information Technology > Midstream Manufacturing > Financial Real Estate > Healthcare > Utilities > Consumer Services > Resource Products [4] Cash Flow and Capital Expansion - Free cash flow as a percentage of market value and revenue is steadily increasing, with operating cash flow showing high growth, particularly from midstream manufacturing [5] - Capital expenditure growth has declined since reaching a peak in Q2 2023, with limited recovery in demand and low corporate capital expansion willingness [5] Focus Areas for Growth - Industries with high or improving profit growth in 2025Q2 include TMT (software development, gaming, components, communication devices, other electronics, semiconductors, consumer electronics), mid-to-high-end manufacturing, and certain resource products [6]

12.07%。公司 AI 技术正持续渗透核心业务领域。在 AI 金融领域，公司在数字渠 道、数字运营、数字营销、数字财管、数字风控等领域，赋能银行数字化转型， 助力银行降本增效提升核心竞争力。上半年，数字财管软件产品斩获广州农商行 等多家区域性银行订单；征信大数据业务在新增项目、覆盖区域方面实现多维度 突破。在 AI 政务领域，公司打造了智慧城市大脑、公共数据运营平台、城市可信 数据空间等系列产品，为城市数字化治理打造核心基础设施，已在广州从化、广 州花都、清远、汕尾、茂名、湛江、平顶山、龙岩等地多点开花。在 AI 交通领域， 公司 AI 大模型驱动收费场景革新，签署河南中天一体化收费项目、河南中天行业 大模型应用开发服务器采购项目合同，并加速刷掌全生态产品研发与业务布局， 智慧出行设备在国际航空枢纽试点落地。 2、公司在行业大模型和 AI Agent 方面有哪些积累和行业落地案例？ 广电运通集团股份有限公司 投资者关系活动记录表 编号：2025014 | 投资者关系活 | □特定对象调研 □分析师会议 □媒体采访 | | | | | | --- | --- | --- | --- | --- | --- | ...