9月11日，晶品特装涨5.67%，截至发稿，报79.99元/股，成交8527.86万元，换手率3.11%，总市值60.52 亿元。 资料显示，北京晶品特装科技股份有限公司位于北京市昌平区创新路15号，成立日期2009年7月9日，上 市日期2022年12月8日，公司主营业务涉及光电侦察设备和军用机器人的研发、生产和销售。主营业务 收入构成为：特种机器人39.03%，智能制造23.71%，模拟仿真18.99%，智能感知设备16.16%，技术服 务2.10%，其他(补充)0.02%。 从基金十大重仓股角度 德邦新兴产业混合发起式A（023674）成立日期2025年3月25日，最新规模1305.68万。成立以来收益 9.64%。 德邦新兴产业混合发起式A（023674）基金经理为袁之渿。 截至发稿，袁之渿累计任职时间171天，现任基金资产总规模2487.01万元，任职期间最佳基金回报 10.14%， 任职期间最差基金回报-2.73%。 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 ...

Group 1 - The core viewpoint of the news is that Jingpin Special Equipment experienced a decline in stock price, with a drop of 5.52% to 80.49 CNY per share, and a total market capitalization of 6.09 billion CNY [1] - Jingpin Special Equipment, established on July 9, 2009, focuses on the research, production, and sales of optoelectronic reconnaissance equipment and military robots, with its main business revenue composition being: special robots 39.03%, intelligent manufacturing 23.71%, simulation 18.99%, intelligent sensing equipment 16.16%, technical services 2.10%, and others 0.02% [1] Group 2 - Among the top ten circulating shareholders of Jingpin Special Equipment, Huaxia Fund's Huaxia CSI Robot ETF (562500) entered the list in the second quarter, holding 820,900 shares, which accounts for 2.32% of the circulating shares, with an estimated floating loss of approximately 3.86 million CNY [2] - The Huaxia CSI Robot ETF (562500) was established on December 17, 2021, with a latest scale of 14.471 billion CNY, achieving a year-to-date return of 31.67% and a one-year return of 84.56% [2]

Group 1 - The core viewpoint of the news is the performance and financial status of Beijing Jingpin Special Equipment Technology Co., Ltd., which has seen a decline in stock price and is primarily engaged in the development, production, and sales of optoelectronic reconnaissance equipment and military robots [1] - As of August 28, the stock price of Jingpin Special Equipment dropped by 5.31% to 82.00 yuan per share, with a trading volume of 58.34 million yuan and a turnover rate of 1.95%, resulting in a total market capitalization of 6.204 billion yuan [1] - The company's main business revenue composition includes special robots (39.03%), intelligent manufacturing (23.71%), simulation and emulation (18.99%), intelligent sensing equipment (16.16%), technical services (2.10%), and others (0.02%) [1] Group 2 - From the perspective of fund holdings, Jin Xin Fund has one fund heavily invested in Jingpin Special Equipment, specifically the Jin Xin Prosperity Preferred Mixed A Fund (018375), which held 2,600 shares, accounting for 2.23% of the fund's net value, making it the largest holding [2] - The Jin Xin Prosperity Preferred Mixed A Fund was established on November 2, 2023, with a latest scale of 945,500 yuan, and has achieved a year-to-date return of 13.53%, ranking 4703 out of 8190 in its category [2] - The fund has a one-year return of 57.87%, ranking 1761 out of 7966, and a cumulative return since inception of 29.55% [2] Group 3 - The fund manager of Jin Xin Prosperity Preferred Mixed A Fund is Yang Chao, who has been in the position for 4 years and 111 days, managing total assets of 2.083 billion yuan [3] - During Yang Chao's tenure, the best fund return was 66.25%, while the worst return was -12.19% [3]

Core Points - The company is preparing for its 2024 Annual General Meeting (AGM) to discuss various proposals including the confirmation of director and supervisor remuneration for 2024 and the proposed remuneration scheme for 2025 [1][2][3] - The company reported a significant decline in financial performance for 2024, with total revenue of 163.74 million yuan, a decrease of 27.39% year-on-year, and a net loss attributable to shareholders of 57.19 million yuan, down 286.87% compared to the previous year [22][34] - The company plans to cancel the supervisory board and amend its articles of association and related governance systems to enhance operational efficiency and protect shareholder rights [19][20] Meeting Procedures - Shareholders and their representatives must arrive 30 minutes before the meeting to complete registration and present necessary identification documents [2] - The meeting will follow a predetermined agenda for reviewing and voting on proposals, with rights for shareholders to speak and inquire during the meeting [2][3] - Voting will be conducted through a combination of on-site and online methods, with results announced at the end of the meeting [4][7] Financial Performance - The company reported a total revenue of 163.74 million yuan for 2024, a decrease of 27.39% from the previous year [34] - The total profit for the year was -76.69 million yuan, representing a decline of 367.74% year-on-year [34] - The net profit attributable to shareholders was -57.19 million yuan, a decrease of 286.87% compared to the previous year [34] Remuneration Proposals - The remuneration for directors in 2024 includes specific amounts for each position, with the chairman receiving 62.04 million yuan and other directors receiving amounts ranging from 30.91 million yuan to 77.65 million yuan [16][17] - The proposed remuneration scheme for 2025 will consist of a basic salary and year-end bonuses based on performance evaluations [16][17] Governance Changes - The company intends to abolish the supervisory board, transferring its responsibilities to the audit committee of the board of directors, and will revise its governance documents accordingly [19][20] - The proposed changes aim to streamline operations and enhance the governance structure in line with regulatory requirements [19][20]

Investment Rating - The report maintains a "Buy" rating for the company, expecting a relative increase in stock price of over 20% within the next six months [13]. Core Views - The company reported a revenue of 164 million yuan for 2024, a decrease of 27% year-on-year, and a net profit attributable to shareholders of -57 million yuan, a decrease of 287% year-on-year. The decline in defense and military sales revenue by 45% to 100 million yuan significantly impacted overall performance, while civil sales revenue increased by 71% to 62 million yuan, indicating initial success in the civil sector [4][5]. - The integration of artificial intelligence in military robotics presents a promising outlook for the company. Despite a 52% decrease in revenue from military robot products to 40 million yuan and a 5.46 percentage point drop in gross margin to 31.34%, the company is focusing on developing intelligent combat robots to meet the urgent demand for automation in warfare [4][5]. - The company achieved a significant revenue increase of 213% year-on-year in Q1 2025, amounting to 26.41 million yuan, with a reduced net loss of 3.58 million yuan, indicating improved financial health. The backlog of orders and sufficient cash flow are expected to support performance throughout the year [5]. - A strategic cooperation agreement signed with Poly Technology in June 2024 aims to enhance the company's foreign trade market presence in intelligent equipment [5]. - The projected net profits for 2025-2027 are estimated at 62.2 million, 106.4 million, and 171 million yuan, representing year-on-year growth rates of 209%, 71%, and 60%, respectively. The corresponding price-to-earnings ratios are expected to be 90, 53, and 33 times [5][9].

Investment Rating - The report maintains a "Buy" rating for the company, expecting a relative increase in stock price of over 20% within the next six months [13]. Core Insights - The company reported a revenue of 164 million yuan for 2024, a decrease of 27% year-on-year, and a net profit attributable to shareholders of -57 million yuan, a decrease of 287% year-on-year. The decline in defense and military sales revenue by 45% to 100 million yuan significantly impacted overall performance, while civil sales revenue increased by 71% to 62 million yuan, indicating initial success in the civil sector [4][5]. - The integration of artificial intelligence in military robotics presents a promising outlook for the company. Despite a 52% decrease in revenue from military robot products to 40 million yuan, the company is focusing on developing intelligent combat robots to meet the urgent demand for automation in warfare [4]. - The company achieved a significant revenue increase of 213% year-on-year in Q1 2025, amounting to 26.41 million yuan, with a reduced net loss of 3.58 million yuan. The backlog of orders and sufficient cash flow are expected to support performance throughout the year [5]. - A strategic cooperation agreement signed with Poly Technology in June 2024 aims to enhance the company's foreign trade market presence in intelligent equipment [5]. - Forecasts for net profit attributable to shareholders for 2025-2027 are 62 million, 106 million, and 171 million yuan, representing year-on-year growth rates of 209%, 71%, and 60%, respectively. The corresponding price-to-earnings ratios are projected to be 90, 53, and 33 times [5][9]. Financial Summary - For 2024, the company is projected to have a revenue of 164 million yuan, with a growth rate of -27.39%. The EBITDA is expected to be -84.05 million yuan, and the net profit attributable to shareholders is forecasted at -57.19 million yuan, with a growth rate of -286.87% [9][12]. - The company’s financial ratios indicate a debt-to-asset ratio of 12.1% for 2024, which is expected to rise to 26.9% by 2027, reflecting a gradual increase in leverage [12].