山东威达（002026）8月25日晚间披露2025年半年报。上半年，公司各业务板块稳步发展，通过技术改 造、改进工艺，实现降本增效，实现营业收入9.14亿元，较上年同期下降15.37%；实现归属于上市公司 股东的净利润1.58亿元，较上年同期增长9.31%；经营活动产生的现金流量净额1.92亿元，同比增长 86.38%。 上半年，公司核心业务电动工具配件板块实现营业收入5.57亿元。据悉，公司坚持深耕电动工具行业， 通过深化与TTI、史丹利（002588）百得、博世、牧田等全球知名品牌商的战略合作，进一步巩固了长 期稳定的客户关系，积极开发新客户，为业务增长注入新动力。公司持续开发新产品、新市场，实现电 动工具配件领域精密夹具、电动工具开关、精密铸造件、粉末冶金件、锯片等产品线全覆盖，并向家用 电器部件、汽车部件和机床功能部件等领域深入拓展。 高端智能装备业务板块上半年实现营业收入0.70亿元。子公司济南一机依托国家级企业技术中心，坚持 智能化、个性化、高端化的发展方向，持续推进主力机型的结构改型和升级工作，深耕汽车行业、工程 机械、能源行业，重点聚焦MJ、VL系列高端数控车床、MC系列车铣复合机床以及CK系 ...

Core Viewpoint - The company is actively expanding its business across various sectors, including electric tools, new energy, and high-end equipment, leading to significant growth in performance and revenue forecasts for 2024 [1][2]. Electric Tools Sector - The company has a leading global market share of approximately 50% in key electric tool components, particularly drill chucks, and achieved a revenue of 5.95 billion yuan in the first half of 2024, representing a year-on-year growth of 33.71% [1]. - The electric tools segment accounted for 55.11% of total revenue in the same period [1]. Overseas Expansion - The company is implementing a strategic layout centered around Weihai, China, with additional bases in Vietnam and Mexico, aiming to enhance its international presence [2]. - The Vietnamese subsidiary reported a sales revenue of 0.52 billion yuan in the first half of 2024, marking an 85.13% increase year-on-year [2]. New Energy Business - The new energy segment, which includes lithium battery packs and charging stations, saw a revenue of 3.67 billion yuan in the first half of 2024, a decline of 31.39% due to reduced orders for charging stations [2]. - The company is positioned to become a leading supplier for battery swapping stations in collaboration with NIO, with plans to expand its network significantly [4]. Lithium Battery Development - The company has diversified its lithium battery applications into various sectors, including smart appliances and electric vehicles, with a revenue of 2.82 billion yuan from battery packs and chargers in the first half of 2024, reflecting a year-on-year growth of 48.83% [3]. High-End Equipment Sector - The high-end equipment division generated a revenue of 84.76 million yuan in the first half of 2024, with a year-on-year increase of 14.75% [5]. - The company is focusing on automation and robotics, streamlining its operations to enhance efficiency and competitiveness in the market [7]. Investment Outlook - The company is projected to achieve revenues of 24.56 billion yuan, 28.63 billion yuan, and 33.25 billion yuan from 2024 to 2026, with corresponding net profits of 2.88 billion yuan, 3.36 billion yuan, and 3.93 billion yuan [8].