这几天，在宁夏银川市永宁县大唐闽宁绿电小镇100MW/200MWh共享储能电站项目建设现场，工人热 火朝天地施工，再加上机器设备的轰鸣声，共同奏响了这个西北地区首个"绿电小镇"配套项目加速推 进"进行曲"。 区别于传统的跟网型储能电站，作为"绿电小镇"首个构网型储能项目，该项目具备电压和频率的调节功 能，能够在周边线路出现故障大面积失电时，自发启动为电网供电，确保电力供应的稳定性和可靠性。 同时，该项目利用人工智能、大数据类比技术，研发新能源最优配比模型，精准计算实现"24小时绿 电"供应所需的源荷储最优配置比例，为新型电力系统新能源、储能建设规模提供参考依据，实现智能 最优配比。 该项目并网运行后，大唐闽宁共享储能电站相当于超大型"充电宝"，基本实现一天一充一放，满足闽宁 镇调用需求，一次可以存储电量20万度。项目投产后，可满足约2.4万户家庭一天的用电需求，年减排 二氧化碳约3万吨。 位于银川经开区的天通银厦新材料有限公司展示厅，各式各样的工业蓝宝石晶体材料依次排列，分外耀 眼。作为现代工业至关重要的基础材料，工业蓝宝石在LED照明和显示、消费类电子、医疗美容、工业 激光器、工业光窗、半导体基板以及mic ...

Group 1: Investor Relations Activity Overview - The investor relations activity was conducted online on June 27, 2025, with participation from various securities and investment firms [3][4]. - Key attendees included the company's Chairman and General Manager, Xu Aiming, and the Board Secretary and Financial Officer, Zhang Wenjin [4]. Group 2: Company Performance and Future Outlook - The company reported stable overall operations in the first half of 2025, with a positive development trend expected to accelerate in the second half due to new projects and production lines coming online [4]. - The first production line of the newly established subsidiary, Mark Surface Treatment Technology (Nantong) Co., Ltd., is expected to commence operations by the end of August 2025, with a second line following by the end of October 2025 [5]. Group 3: Acquisition and Technological Advancements - The acquisition of Tong Yi He Precision Engineering Co., Ltd. is anticipated to enhance the company's technical capabilities and profitability, with no significant overlap in customer bases, thus promising substantial synergy [6]. - The company is collaborating with precision component manufacturers to develop key components for harmonic reducers and planetary gear reducers, aiming to accelerate the domestic replacement process for these critical parts [7][8]. Group 4: International Expansion - The establishment of a joint venture in Slovenia is a strategic move to meet customer demands and expand the company's overseas presence, targeting existing clients like Bosch and Continental Automotive, while also seeking new customers in the European market [9]. - The Slovenian facility will focus on automotive parts, catering to both traditional fuel vehicles and new energy vehicles, utilizing advanced manufacturing techniques [9].

Core Viewpoint - The performance of Jingzhu Technology is currently under pressure due to fluctuations in export business and expenses, with a revenue of 2.03 billion yuan in 2024, down 3.7% year-on-year, and a net profit of 160 million yuan, down 33.1% year-on-year [2][11][16] Financial Performance - In 2024, Jingzhu Technology reported a revenue of 2.03 billion yuan, a decrease of 3.7% year-on-year, and a net profit of 160 million yuan, down 33.1% year-on-year. The net profit excluding non-recurring items was 120 million yuan, down 41.2% year-on-year [2][11][16] - For Q4 2024, the revenue was 560 million yuan, a decrease of 6.7% year-on-year but an increase of 21.3% quarter-on-quarter. The net profit was 40 million yuan, down 12.0% year-on-year but up 93.7% quarter-on-quarter [2][11][16] - In Q1 2025, the company achieved a revenue of 510 million yuan, an increase of 1.6% year-on-year but a decrease of 8.2% quarter-on-quarter. The net profit was 40 million yuan, down 14.9% year-on-year and down 7.9% quarter-on-quarter [2][11][16] Cost Management - In Q1 2025, the sales, management, and R&D expense ratios were 0.8%, 6.8%, and 6.0%, respectively, showing slight year-on-year and quarter-on-quarter changes. The gross profit margin was 24.3%, down 3.1 percentage points year-on-year but up 1.6 percentage points quarter-on-quarter [4][3][11] Business Expansion - The company is expanding its product categories from single gear supply to differential assembly supply, while also venturing into reducer gears and lightweight chassis business. It has secured orders from domestic brands, new forces, Volvo, and major North American clients [6][5] - The overseas expansion includes a factory in Thailand expected to begin small-scale trial production in June 2025, with mass supply planned for the second half of 2025. Future plans also include establishing a production base in North Africa [6][5] Robotics Sector - The company is actively advancing its robotics intelligent joint module business, collaborating with Tianjin Aima Automation to establish a joint venture. The internal team is progressing as planned, leveraging its gear forging capabilities and customer base for advancements in the robotics sector [8][7]

事件 公司发布一季报：公司实现营业收入20.65 亿元，同比微降0.47%；实现归母净利润2.76 亿元，同比增 长24.70%；实现扣非归母净利润2.69 亿元，同比增长28.27%。 经营分析 新能源汽车齿轮带动公司业绩稳健增长。公司主营业务收入在2025Q1 实现12.48%的同比增长，新能源 汽车齿轮业务是其核心增长引擎。这得益于公司作为行业龙头，深度绑定全球领先的电动车企，订单有 保障。海外拓展是未来重要看点，公司匈牙利工厂建设顺利推进，预计将承接欧洲客户订单，打开新的 增长空间。公司凭借国内积累的成本和效率优势，在海外市场具备较强竞争力。 盈利能力持续改善。2025Q1 公司毛利率约为26.8%，较去年同期提升了4.2 个百分点。毛利率提升主要 受益于：1）主营业务规模效应显现；2）高毛利产品（如新能源车齿轮，尤其是混动、同轴减速器齿 轮）占比提升带来的产品结构优化；3）公司持续推进的降本提效措施取得成效。费用方面，公司期间 费用管控良好。销售费用率1.00% (同比-0.17pct)，管理费用率3.76% (同比-0.11pct)，财务费用率0.44% (同比-0.03pct)，研发费用达1.1 ...

事件 公司发布一季报：公司实现营业收入 20.65 亿元，同比微降 0.47%； 实现归母净利润 2.76 亿元，同比增长 24.70%；实现扣非归母净利 润 2.69 亿元，同比增长 28.27%。 经营分析 新能源汽车齿轮带动公司业绩稳健增长。公司主营业务收入在 2025Q1 实现 12.48%的同比增长，新能源汽车齿轮业务是其核心 增长引擎。这得益于公司作为行业龙头，深度绑定全球领先的电 动车企，订单有保障。海外拓展是未来重要看点，公司匈牙利工 厂建设顺利推进，预计将承接欧洲客户订单，打开新的增长空 间。公司凭借国内积累的成本和效率优势，在海外市场具备较强 竞争力。 盈利能力持续改善。2025Q1 公司毛利率约为 26.8%，较去年同期 提升了 4.2 个百分点。毛利率提升主要受益于：1）主营业务规 模效应显现；2）高毛利产品（如新能源车齿轮，尤其是混动、 同轴减速器齿轮）占比提升带来的产品结构优化；3）公司持续 推进的降本提效措施取得成效。费用方面，公司期间费用管控良 好。销售费用率 1.00% (同比-0.17pct)，管理费用率 3.76% (同 比-0.11pct)，财务费用率 0.44% (同 ...