| 指数 收盘 涨跌 (%) | | --- | | 名称 | | ┣证指数 3582 0.0.01 5.94 2.24 | | 深证综指 2177 -0.54 9.53 2.66 | | 风格指数 | | 昨日表现 1 个月表现 6 个月表现 | | | --- | --- | --- | --- | | (%) | | (%) | (%) | | 大盘指数 | 0.11 | 6.89 | 8.55 | | 中盘指数 | -0.34 | 8.38 | 7.09 | | 小盘指数 | -0.37 | 9.36 | 13.88 | | 行业涨幅 | | 昨日涨 1 个月涨 6 个月涨 | | | 保険I | 2.25 | 4.72 | 14 | | 医疗服务工 | 1.62 | 18.99 | 32.43 | | 个护用品 | 1.42 | 4.64 | 19.64 | | 证券Ⅱ | 1.11 | 12.08 | 8.42 | | 国有大型银 | 1.08 | 1.4 | 12.59 | | 行业跌幅 | 昨日 跌 | | 1 个月跌 6 个月跌 | | 地面兵装Ⅱ -4.82 | | 21.32 | 63. ...

前公司 有色翁属 2025 年 07 月 23 日 金天钛业 (688750) ―― 材料强国之高端制造系列报告之七：高端钛合金新 锐, 航空深海合力铸就高成长 报告原因: 首次覆盖 增持 (首次评级) | 市场数据: 2025 年 07 月 22 日 | | | --- | --- | | 收盘价（元） | 21.77 | | 一年内最高/最低（元） 37.01/17.41 | | | 市净率 | 4.1 | | 股息率%（分红/股价） | 0.39 | | 流通 A 股市值(百万元) | 1.812 | | 上证指数/深证成指 3,581.86/11,099.83 | | | 注："股息率"以最近一年已公布分红计算 | | | 基础数据: | 2025 年 03 月 31 日 | | --- | --- | | 每股净资产（元） | 5.30 | | 资产负债率% | 26.37 | | 总股本/流通 A 股 (百万) | 463/83 | | 流通 B 股/H 股 (百万) | -/- | 金天钛业 沪深300指数 田听 (8621)23297818× tianxin@swsresearch.com | ...

上 市 公 司 有色金属 2025 年 07 月 23 日 金天钛业 (688750) —— 材料强国之高端制造系列报告之七：高端钛合金新 锐，航空深海合力铸就高成长 报告原因：首次覆盖 增持（首次评级） | 市场数据： | 2025 年 07 月 22 日 | | --- | --- | | 收盘价（元） | 21.77 | | 一年内最高/最低（元） | 37.01/17.41 | | 市净率 | 4.1 | | 股息率%（分红/股价） | 0.39 | | 流通 A 股市值（百万元） | 1,812 | | 上证指数/深证成指 | 3,581.86/11,099.83 | | 注："股息率"以最近一年已公布分红计算 | | | 基础数据: | 2025 年 03 月 31 日 | | --- | --- | | 每股净资产（元） | 5.30 | | 资产负债率% | 26.37 | | 总股本/流通 A 股（百万） | 463/83 | | 流通 B 股/H 股（百万） | -/- | -50% 0% 50% 金天钛业 沪深300指数 (收益率) 相关研究 本研究报告仅通过邮件提供给 中庚基金 使用。 ...

Group 1 - Baoji Titanium Industry Co., Ltd. has been included in Apple's supply chain for the first time, becoming a core supplier in the titanium alloy materials sector, with expectations to double its revenue in the next three years due to increased application of titanium alloys in the iPhone 17 series and mass production of AR devices [1][2] - The company has developed a titanium alloy body solution for the iPhone 15 Pro series, achieving a balance between high strength and lightweight, significantly enhancing product durability and aesthetic design [1][2] - Baoji Titanium's entry into Apple's supply chain reflects the international recognition of China's high-end materials technology and Apple's strategic intent to diversify and expand into high-precision fields [1][4] Group 2 - The core competitiveness of Baoji Titanium lies in its full industry chain layout and innovation capabilities, with self-developed titanium alloy materials that are 60% stronger than aluminum alloys and 60% lighter than steel, meeting Apple's demand for high-end models that balance performance and aesthetics [2][3] - The company has achieved a monthly production capacity of millions through digital production lines, with a stable yield rate exceeding 95%, significantly above the industry average [2][3] - The global consumer electronics industry is rapidly evolving towards lightweight and durable innovations, with the titanium market projected to exceed $5 billion by 2025, growing at a compound annual growth rate of 18% [2][3] Group 3 - Entering Apple's supply chain requires a rigorous process involving technical certification, small batch trial production, and scaling up production, typically taking 18-24 months [3] - Baoji Titanium's collaboration with Apple has led to a more than 200% increase in revenue from its consumer electronics business and a rise in gross margin to 35% [3] - The partnership has expanded Baoji Titanium's customer base to include global giants like Tesla and Samsung, shifting its valuation from a traditional materials supplier to a high-growth technology enterprise [3]

Group 1 - The core viewpoint of the article is that Baotai Co., Ltd. is advancing its capacity expansion through fundraising and external acquisitions, specifically by acquiring a 51% stake in Shaanxi Wanhao Titanium Technology Co., Ltd. for 287 million yuan [1][2] - The acquisition will allow Baotai to integrate local quality resources and quickly add 25,000 to 28,000 tons of annual smelting capacity, enhancing market competitiveness and laying a solid foundation for rapid development [2] - Baotai's recent financial performance shows a revenue of 6.657 billion yuan in 2024, a decrease of 3.9% year-on-year, while net profit increased by 5.92% to 576 million yuan [3] Group 2 - Baotai's processing capacity for titanium products in 2024 is designed at 27,800 tons per year, with an actual capacity of 38,100 tons, and a production and sales volume of 33,600 tons and 31,300 tons respectively, reflecting a year-on-year growth of 12% and 6.54% [3] - The company has previously raised 2.005 billion yuan through a private placement in February 2021, which was invested in various projects including high-quality titanium ingot production lines [2] - The controlling shareholder, Baotai Group, has initiated a share buyback plan worth between 150 million to 300 million yuan, with the first purchase of 500,000 shares completed in June [3]

证券研究报告 | 2025年06月04日 北交所 2025 年 5 月月报 优于大市 北证 50 月内创历史新高，机构对北交所关注度持续提升 本月北交所股票成交额活跃度保持在较高水平。 本月北交所新增上市公司 1 家，为天工股份（920068.BJ）。北交所上 市公司总数为 266 家，总市值为 7956.22 亿元，流通市值为 4781.19 亿 元，环比分别上升 7.8%和 8.2%。 流动性和市场成交活跃度方面，本月北交所股票成交活跃度比上月微 跌，单月成交数量和成交金额为 284.81 亿股和 6049.99 亿元，环比分 别下降 8.0%和 4.1%。两融方面，北交所 5 月两融余额日均值达到 53.67 亿元，与上月相仿，处在历史较高水平。 估值方面，截至 5 月 31 日，北证 50 指数市盈率（PE-TTM）为 47.71 倍， 处于近两年 98.14%的分位数水平，市净率（PB-MRQ）为 9.15 倍，处于 近两年 95.46%的分位数水平。股息率为 0.62 倍，处于近两年 0.83%的 分位数水平。按行业来看，以各行业的市盈率中位数排序（剔除负数） 计算机市盈率最高，为 134 倍，其 ...

5月13日，A股三大股指集体高开，深证成指高开近1%，创业板指涨超1%，盘中深证成指、创业板指双双翻绿，上证指数涨幅亦收窄。 银行板块温和走强，若按照复权价计，多只银行股股价创历史新高。另外，A股市场多只航运股盘中大幅走强。 港股市场今天上午整体走低，医药生物板块逆势大涨，成为上午港股市场主要亮点之一。 A股主要指数涨跌不一多只银行股复权价创历史新高 5月13日，A股三大股指早盘巨震，深证成指、创业板指盘中双双翻绿。截至中午收盘，上证指数上涨0.08%，深证成指下跌0.24%，创业板指下跌0.23%。 | 行情 | 资金净流入 | 涨跌分布 | | --- | --- | --- | | 上证指数 | 深证成指 | 北证50 | | 3371.86 | 10276.61 | 1413.93 | | +2.61 +0.08% -24.54 -0.24% | | -5.20 -0.37% | | 科创50 | 创业板指 | 万得全A | | 1010.03 | 2059.88 | 5128.04 | | -1.20 -0.12% -4.83 -0.23% -8.74 -0.17% | | | | 沪深300 | ...

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Monetary Policy - The People's Bank of China announced a 0.5 percentage point reduction in the reserve requirement ratio for financial institutions, effective from May 15 [2] - The reserve requirement ratio for auto finance companies and financial leasing companies will be reduced by 5 percentage points [2] Industry Events - The 20th "China Optics Valley" International Optoelectronic Exposition will be held from May 15 to 17, focusing on optoelectronic technology and emerging fields such as AI and smart manufacturing [3] - Multiple industry events, including the 2025 World Digital Education Conference and the 17th China International Battery Technology Exchange Conference, will take place next week [3] E-commerce Promotions - Major e-commerce platforms like Tmall and Suning will kick off their 618 pre-sale activities on May 13, with JD.com also launching its promotional season [4] Stock Market Updates - The Hang Seng Index Company will announce the results of its first-quarter index review on May 16, with changes effective from June 9 [5] - Over 180 billion yuan worth of restricted shares will be unlocked next week, with a peak on May 12 when 15 companies will have a total unlock value of 144.69 billion yuan [7] Earnings Reports - Major internet companies including Alibaba, Tencent, JD.com, and NetEase will release their earnings reports next week, with JD.com reporting on May 13 and Alibaba on May 15 [6] New Stock Listing - Tian Gong Co., Ltd. will be listed on the Beijing Stock Exchange on May 13, focusing on the research, production, and sales of titanium and titanium alloy materials [10]

在高强高韧钛合金、中强高韧钛合金、发动机专用钛合金、舰船用钛合金等多个领域，金天钛业均掌握 了多项自主可控的核心技术。 得益于深厚的技术积淀及专有的核心技术，公司钛合金棒材、锻坯产品在飞机结构件、紧固件及航空发 动机零部件等领域的渗透率稳步提升。目前，在该领域，金天钛业市占率排名第三，仅次于西部超导和 宝钛股份（600456）。 "公司积极对接国家重大型号装备需求，全方位参与航空、航天、舰船及兵器等高端装备领域型号装备 配套研制，新产品储备、产业化进程顺利。"4月30日，金天钛业(688750.SH)董事长李新罗在2024年年 度股东大会上表示。 2024年11月，金天钛业成功登陆科创板。这一年，公司聚焦"一体两翼"发展战略，在持续深耕高端航 空、航天市场基础上，通过发挥自身优势不断拓展海装市场与民用航空市场，采取各种措施提升公司经 营水平和盈利能力，交出了一份营收净利双增的成绩单。 年报显示，公司2024年实现营业收入8.08亿元，同比增长0.91%；归母净利润1.52亿元，同比增长 3.04%。 近年来，在我国"大飞机计划""空间站计划""舰船建造计划"等计划的牵引下，中高端钛材需求快速增 长。 在航空航 ...