来源：市场资讯 整体来看，2025年上半年大明国际盈利显著修复，项目成果丰硕，海外业务加快扩展，协同合作持续深 化，业绩潜力有待释放。未来随著基建投资稳步增长、制造业持续发展以及出口增量提升，行业发展前 景向好，公司业务有望持续受益。目前公司市净率低于行业平均水准，估值修复可期。 撰文 : 大湾区家族办公室协会 李慧芬教授 (本人并没持有以上股票) 细看核心业务板块表现，公司加工业务增长稳健。2025年上半年不锈钢和碳钢的加工业务销售量增幅分 别为3.1%和0.4%，碳钢加工业务的加工量更是同比增长6.6%，两大主力产品的健康发展为公司业绩增 长奠定坚实的基础。 大明国际在国内设有十个加工中心和一个制造基地，为七万家不同行业的公司提供专业的定制化金属材 料加工和高端装备制造配套服务。凭借多年的技术积累和"一站式"服务，公司收获了丰富的项目成果， 彰显在高技术、高附加值加工领域的强大竞争力。在船舶制造领域，凭借国际一流的高性能双相钢和精 密工艺成功打入欧洲高端船舶市场。在化工领域，公司批量出口了常压储罐产品、承建高端油罐项目。 在工业机械领域，预计今年内完成15辆超大吨位矿卡货箱交付。 随著大明靖江基地的4万吨 ...

Core Insights - Daming International (01090) reported revenue of RMB 21.198 billion for the six months ending June 30, 2025, representing a year-on-year decrease of 7% [1] - The profit attributable to equity holders increased by 70.85% to RMB 7.579 million, with basic earnings per share at 0.59 cents [1] Revenue and Profit Analysis - The group's stainless steel processing business saw sales volume increase from approximately 965,000 tons for the six months ending June 30, 2024, to approximately 996,000 tons for the same period in 2025, reflecting a growth of about 3.1% [1] - Processing volume decreased slightly from approximately 1,525,000 tons for the six months ending June 30, 2024, to approximately 1,522,000 tons for the same period in 2025, showing a decline of about 0.2% [1]

Group 1 - The core viewpoint of the article is that Daming International (01090) reported a revenue of 21.198 billion RMB for the six months ending June 30, 2025, representing a year-on-year decrease of 7% [1] - The profit attributable to equity holders increased to 7.579 million RMB, showing a significant year-on-year increase of 70.85% [1] - Basic earnings per share were reported at 0.59 cents [1] Group 2 - The sales volume of the stainless steel processing business increased from approximately 965,000 tons for the six months ending June 30, 2024, to approximately 996,000 tons for the same period in 2025, reflecting an increase of about 3.1% [1] - The processing volume slightly decreased from approximately 1,525,000 tons for the six months ending June 30, 2024, to approximately 1,522,000 tons for the same period in 2025, indicating a decrease of about 0.2% [1]