证券研究报告：国防军工 | 公司点评报告 发布时间：2025-09-04 股票投资评级 个股表现 -36% -26% -16% -6% 4% 14% 24% 34% 44% 54% 64% 2024-09 2024-11 2025-01 2025-04 2025-06 2025-09 佳力奇 国防军工 资料来源：聚源，中邮证券研究所 公司基本情况 | 最新收盘价（元） | 53.45 | | --- | --- | | 总股本/流通股本（亿股）0.83 / 0.53 | | | 总市值/流通市值（亿元）44 / 28 | | | 52 周内最高/最低价 73.40 / 36.01 | | | 资产负债率(%) | 20.6% | | 市盈率 | 36.86 | | 第一大股东 | 路强 | 研究所 分析师:马强 SAC 登记编号:S1340523080002 Email:maqiang@cnpsec.com 佳力奇(301586) 2025H1 营收同比增长 60%，市场开拓和材料研发并 进 ⚫ 事件 8 月 26 日，佳力奇发布 2025 年半年报。2025H1，公司实现营收 4.32 亿元，同比增长 60 ...

Group 1 - The core viewpoint of the news highlights the recent performance and financial metrics of Jialiqi, including stock price changes and trading volumes [1][2] - On September 2, Jialiqi's stock price fell by 1.15%, with a trading volume of 89.4653 million yuan, and a net financing buy of -2.5827 million yuan [1] - As of September 2, the total margin balance for Jialiqi was 130 million yuan, accounting for 4.56% of its market capitalization [1] Group 2 - For the first half of 2025, Jialiqi reported a revenue of 432 million yuan, representing a year-on-year growth of 60.02%, while the net profit attributable to shareholders decreased by 38.69% to 37.7317 million yuan [2] - The number of shareholders increased by 11.61% to 10,700 as of June 30, with an average of 1,931 circulating shares per person, a decrease of 10.40% [2] - The largest circulating shareholder is E Fund National Defense and Military Industry Mixed A, holding 1.3156 million shares, an increase of 176,200 shares from the previous period [2]

Group 1 - The core business of the company involves the research, production, and sales of advanced composite materials, primarily for aircraft and missile components, with 93.32% of revenue coming from aircraft composite parts [1] - As of August 22, the company's financing balance is 126 million yuan, accounting for 10.54% of its market capitalization [1] - The company reported a revenue of 182 million yuan for the first quarter of 2025, representing a year-on-year growth of 69.76%, while the net profit attributable to the parent company decreased by 55.94% to 11.01 million yuan [2] Group 2 - As of March 31, the number of shareholders decreased by 37.97% to 9,622, while the average circulating shares per person increased by 69.99% to 2,155 shares [2] - Cumulative cash dividends paid by the company after its A-share listing amount to 39.83 million yuan [3] - The largest circulating shareholder is E Fund Defense Industry Mixed A, holding 1.1394 million shares, an increase of 927,700 shares compared to the previous period [3]