9月30日，杭可科技涨5.22%，截至发稿，报37.48元/股，成交2.34亿元，换手率1.06%，总市值226.26亿 元。 格林碳中和主题混合A（015856）成立日期2023年1月18日，最新规模340.78万。今年以来收益 66.56%，同类排名410/8167；近一年收益101.66%，同类排名266/8010；成立以来收益66.91%。 格林碳中和主题混合A（015856）基金经理为刘赞。 截至发稿，刘赞累计任职时间2年321天，现任基金资产总规模3.84亿元，任职期间最佳基金回报 80.86%， 任职期间最差基金回报0.01%。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 责任编辑：小浪快报 资料显示，浙江杭可科技股份有限公司位于浙江省杭州市萧山经济技术开发区桥南区块高新十一路77 号,浙江省杭州市萧山经济开发区高新六路298号，成立日期2011年11月21日，上市日期2019年7月22 日，公司主营业务涉及各类可充电电池,特别是锂离子电池生产线后处理系 ...

Group 1 - The core point of the news is that Hangke Technology's stock price dropped by 5.43% to 36.08 CNY per share, with a trading volume of 554 million CNY and a turnover rate of 2.43%, resulting in a total market capitalization of 21.78 billion CNY [1] - Hangke Technology, established on November 21, 2011, and listed on July 22, 2019, specializes in the design, research and development, production, and sales of various rechargeable batteries, particularly lithium-ion battery production line post-processing systems [1] - The company's main business revenue composition includes 70.17% from charging and discharging equipment, 28.54% from other equipment, 0.83% from accessories, and 0.47% from other sources [1] Group 2 - From the perspective of fund holdings, one fund under China Europe Fund has a significant position in Hangke Technology, with the China Europe Small Cap Growth Mixed A Fund holding 149,900 shares, accounting for 0.57% of the fund's net value, ranking as the sixth-largest holding [2] - The China Europe Small Cap Growth Mixed A Fund has a current scale of 199 million CNY and has achieved a year-to-date return of 53.64%, ranking 992 out of 8171 in its category, and a one-year return of 106.93%, ranking 418 out of 8004 [2] - The fund manager, Qian Yating, has a tenure of 3 years and 329 days, with the fund's total asset scale at 2.377 billion CNY, achieving a best return of 58.45% during the tenure [3]

9月10日，杭可科技涨5.14%，截至发稿，报41.10元/股，成交12.01亿元，换手率5.02%，总市值248.11 亿元。 资料显示，浙江杭可科技股份有限公司位于浙江省杭州市萧山经济技术开发区桥南区块高新十一路77 号,浙江省杭州市萧山经济开发区高新六路298号，成立日期2011年11月21日，上市日期2019年7月22 日，公司主营业务涉及各类可充电电池,特别是锂离子电池生产线后处理系统的设计、研发、生产与销 售。主营业务收入构成为：充放电设备70.17%，其他设备28.54%，配件0.83%，其他0.47%。 责任编辑：小浪快报 格林碳中和主题混合A（015856）成立日期2023年1月18日，最新规模340.78万。今年以来收益 65.46%，同类排名243/8177；近一年收益129.34%，同类排名103/7982；成立以来收益65.81%。 格林碳中和主题混合A（015856）基金经理为刘赞。 截至发稿，刘赞累计任职时间2年301天，现任基金资产总规模3.84亿元，任职期间最佳基金回报 81.21%， 任职期间最差基金回报23.45%。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动 ...

Core Viewpoint - The company has benefited significantly from the recovery of the new energy industry in the first half of 2025, with a notable improvement in revenue and profit due to increased production rates and expansion plans by leading manufacturers [1][2]. Financial Performance - In the first half of 2025, the company achieved operating revenue of 1.97 billion yuan, a year-on-year increase of 4.19%, and a net profit attributable to shareholders of 288 million yuan, up 6.92% year-on-year [2][3]. - In Q2 2025, the company reported operating revenue of 1.29 billion yuan, a year-on-year increase of 28.12% and a quarter-on-quarter increase of 89.70%, with a net profit of 172 million yuan, reflecting a year-on-year growth of 78.73% and a quarter-on-quarter growth of 48.67% [2][3]. Revenue Composition - The revenue composition for the first half of 2025 includes: 1. Charging and discharging equipment revenue of 1.38 billion yuan, down 4.99% year-on-year, accounting for 70.17% of total revenue 2. Other equipment revenue (mainly automation logistics equipment, single machine testing equipment) of 562 million yuan, up 37.51% year-on-year, accounting for 28.54% 3. Accessories revenue of 16 million yuan, up 27.28% year-on-year 4. Other business revenue of 9 million yuan, down 35.28% year-on-year [3]. Profitability and Cash Flow - The gross margin for the first half of 2025 was 24.53%, a year-on-year decrease of 5.39 percentage points, primarily due to the competitive market conditions during the revenue recognition period [4]. - In Q2 2025, the gross margin was 26.36%, showing a slight year-on-year decrease of 0.01 percentage points but an increase of 5.31 percentage points quarter-on-quarter, indicating a recovery [5]. - The net cash flow from operating activities reached 541 million yuan, a significant year-on-year increase of 382.87%, reflecting improved cash flow health [5]. Market Opportunities - The demand for new battery technologies, such as small steel shell, energy storage, and solid-state batteries, is strong, providing new growth opportunities for the company [6][7]. - The company has established deep collaborations with major clients in South Korea, Japan, and Europe, including partnerships with LG, Samsung, SK, and Tesla, enhancing its global presence [7]. Future Outlook - Revenue projections for 2025-2027 are 3.59 billion yuan, 4.40 billion yuan, and 5.61 billion yuan, representing year-on-year growth rates of 20.33%, 22.75%, and 27.34% respectively [8]. - Net profit forecasts for the same period are 594 million yuan, 721 million yuan, and 895 million yuan, with year-on-year growth rates of 81.87%, 21.43%, and 24.16% respectively [8].

Investment Rating - The report maintains a "Buy" rating for the company [1] Core Views - The company experienced a revenue decline in 2024 but showed a significant improvement in Q1 2025, with a 119.26% increase in revenue compared to the previous quarter. The focus on overseas market expansion is viewed positively [7] - The company’s revenue for 2024 was 2.981 billion yuan, a year-on-year decrease of 24.18%, primarily due to intensified competition in the lithium battery equipment manufacturing industry and extended acceptance cycles from battery manufacturers [7] - The report highlights the company's stable growth in R&D investment, with R&D expenses reaching 257 million yuan in 2024, a year-on-year increase of 5.6% [7] - The company is recognized as a leading player in the global lithium battery equipment market, with ongoing exports to various countries including Germany, Sweden, and the USA [7] Financial Summary - Total revenue forecast for 2024 is 2.981 billion yuan, with a projected increase to 3.770 billion yuan in 2025, and further growth expected in subsequent years [1][8] - The net profit attributable to the parent company is forecasted to be 326.34 million yuan in 2024, with an expected increase to 425.26 million yuan in 2025 [1][8] - The report projects a dynamic P/E ratio of 24 for 2025 and 18 for 2026, indicating a favorable valuation outlook [7]