数据显示，长信基金旗下1只基金位居隆达股份十大流通股东。长信国防军工量化混合A（002983）三 季度新进十大流通股东，持有股数415.86万股，占流通股的比例为3.29%。根据测算，今日浮盈赚取约 128.92万元。 12月30日，隆达股份涨1.16%，截至发稿，报27.01元/股，成交4668.12万元，换手率1.39%，总市值 66.68亿元。 长信国防军工量化混合A（002983）成立日期2017年1月5日，最新规模9.05亿。今年以来收益47.4%， 同类排名1351/8087；近一年收益43.12%，同类排名1470/8085；成立以来收益91.52%。 资料显示，江苏隆达超合金股份有限公司位于江苏省无锡市锡山区安镇街道翔云路18号，成立日期2004 年9月30日，上市日期2022年7月22日，公司主营业务涉及以高温合金板块为战略核心业务，辅以逐步收 缩优化的合金管材业务。主营业务收入构成为：高温耐蚀合金72.80%，合金管材22.45%，其他4.75%。 长信国防军工量化混合A（002983）基金经理为宋海岸。 从隆达股份十大流通股东角度 截至发稿，宋海岸累计任职时间7年324天，现任基金资产总 ...

数据显示，博时基金旗下1只基金重仓隆达股份。博时集兴配置优选6个月持有混合发起式(FOF)A （018285）三季度持有股数2515股，占基金净值比例为0.38%，位居第八大重仓股。根据测算，今日浮 盈赚取约779.65元。 博时集兴配置优选6个月持有混合发起式(FOF)A（018285）成立日期2023年8月29日，最新规模1314.09 万。今年以来收益27.42%，同类排名186/1037；近一年收益26.18%，同类排名176/1031；成立以来收益 30.22%。 12月30日，隆达股份涨1.16%，截至发稿，报27.01元/股，成交4668.12万元，换手率1.39%，总市值 66.68亿元。 博时集兴配置优选6个月持有混合发起式(FOF)A（018285）基金经理为郑铮、张卫卫。 资料显示，江苏隆达超合金股份有限公司位于江苏省无锡市锡山区安镇街道翔云路18号，成立日期2004 年9月30日，上市日期2022年7月22日，公司主营业务涉及以高温合金板块为战略核心业务，辅以逐步收 缩优化的合金管材业务。主营业务收入构成为：高温耐蚀合金72.80%，合金管材22.45%，其他4.75%。 从基金十大重 ...

Investment Rating - The report assigns a "Buy" rating to the company, with a target price of 33.76 CNY for the next six months, indicating an expected price increase of over 15% compared to the market benchmark [4][6]. Core Insights - The company, Longda Co., Ltd., specializes in high-temperature alloy materials and is expected to benefit from the growing demand for AI-related electricity usage. The company has expanded its business from copper-based alloys to nickel-based and high-temperature alloys, with applications in various industries including aerospace, energy, oil and gas, and automotive [1][4]. - The aerospace sector shows strong growth potential, with increasing demand for high-temperature alloys in both military and civil aviation markets. The automotive turbocharger market in China is also expanding, leading to higher usage of high-temperature alloys [2]. - The company has a diverse customer base in the gas turbine sector, including major players like GE and Siemens. It is actively expanding its production capacity, particularly in Malaysia, which is expected to significantly enhance its profitability and customer support capabilities [3][4]. Financial Summary - The projected revenue for the company from 2025 to 2027 is 17.3 billion CNY, 21.9 billion CNY, and 28.0 billion CNY, respectively. The net profit attributable to the parent company is expected to be 1.06 billion CNY, 1.67 billion CNY, and 2.38 billion CNY for the same period [4][5]. - The company anticipates a revenue growth rate of 24.33% in 2025, 26.30% in 2026, and 28.15% in 2027, with net profit growth rates of 59.92%, 57.62%, and 42.61% for the respective years [5][11].

Core Viewpoint - Longda Co., Ltd. shows a stable performance in stock trading and financing activities, with a notable increase in revenue and net profit year-on-year, indicating potential growth opportunities in the high-temperature alloy sector [1][2]. Financing Activities - On October 13, Longda Co., Ltd. recorded a financing buy-in amount of 4.38 million yuan, with a net financing buy of 1.02 million yuan, reflecting a low financing balance of 84.76 million yuan, which is 3.32% of the circulating market value [1]. - The financing balance is below the 40th percentile level over the past year, indicating a relatively low position in terms of financing [1]. Stock Performance - On October 13, Longda Co., Ltd.'s stock price increased by 0.55%, with a trading volume of 52.36 million yuan [1]. - The company has a high short-selling position, with no shares sold or repaid on the same day, and a short-selling balance of 0, which is at the 90th percentile level over the past year [1]. Company Overview - Longda Co., Ltd. was established on September 30, 2004, and listed on July 22, 2022. The company focuses on high-temperature alloy products, with 72.80% of its revenue coming from corrosion-resistant alloys, 22.45% from alloy pipes, and 4.75% from other sources [1]. - As of June 30, 2025, the company reported a revenue of 829 million yuan, a year-on-year increase of 15.72%, and a net profit of 53.04 million yuan, also reflecting a growth of 15.53% [2]. Shareholder Information - As of June 30, 2025, Longda Co., Ltd. had 11,000 shareholders, an increase of 10.11% from the previous period, with an average of 11,473 circulating shares per person, a decrease of 9.18% [2]. - The company has distributed a total of 219 million yuan in dividends since its A-share listing [2].

Group 1 - On October 10, Longda Co., Ltd. experienced a decline of 2.05% in stock price, with a trading volume of 42.79 million yuan [1] - The financing data for Longda on the same day showed a financing purchase amount of 5.02 million yuan and a net financing purchase of 1.44 million yuan, with a total financing and securities balance of 83.74 million yuan [1] - The current financing balance of Longda accounts for 3.30% of its circulating market value, which is below the 30th percentile level over the past year, indicating a low position [1] Group 2 - As of June 30, Longda had 11,000 shareholders, an increase of 10.11% from the previous period, while the average circulating shares per person decreased by 9.18% [2] - For the first half of 2025, Longda reported a revenue of 829 million yuan, representing a year-on-year growth of 15.72%, and a net profit attributable to shareholders of 53.04 million yuan, also showing a year-on-year increase of 15.53% [2] - Since its A-share listing, Longda has distributed a total of 219 million yuan in dividends [2]

Group 1 - The core viewpoint of the news is that Longda Co., Ltd. has shown fluctuations in its stock performance and financing activities, indicating a high level of trading activity and investor interest [1][2] - On August 28, Longda Co., Ltd. experienced a stock decline of 0.93% with a trading volume of 133 million yuan, and the net financing buy was negative at -865,300 yuan [1] - As of August 28, the total margin balance for Longda Co., Ltd. was 115 million yuan, accounting for 4.27% of its market capitalization, which is above the 90th percentile level over the past year [1] Group 2 - As of June 30, the number of shareholders for Longda Co., Ltd. increased to 11,000, a rise of 10.11%, while the average circulating shares per person decreased by 9.18% to 11,473 shares [2] - For the first half of 2025, Longda Co., Ltd. reported a revenue of 829 million yuan, representing a year-on-year growth of 15.72%, and a net profit attributable to shareholders of 53 million yuan, up 15.53% year-on-year [2] - Since its A-share listing, Longda Co., Ltd. has distributed a total of 175 million yuan in dividends [2]

Investment Rating - The report maintains a "Buy" rating for the company [5] Core Insights - The company achieved a revenue of 830 million (up 15.7% year-on-year) and a net profit attributable to shareholders of 50 million (up 15.5% year-on-year) in the first half of 2025 [1][5] - The high-temperature alloy production capacity is steadily increasing, with the revenue from the high-temperature corrosion-resistant alloy segment reaching 603 million (up 17.98% year-on-year) [1][2] - The company is accelerating its entry into the global high-temperature alloy supply chain, gaining recognition from major domestic and international enterprises in the aerospace and oil and gas sectors [2] Financial Performance Summary - For the first half of 2025, the company reported a gross margin of 15.75% (up 0.13 percentage points year-on-year) and a net profit margin of 6.40% (down 0.01 percentage points year-on-year) [2] - The second quarter of 2025 saw a revenue of 485 million (up 21.3% year-on-year, up 41.0% quarter-on-quarter) and a net profit of 25 million (up 34.2% year-on-year, down 14.1% quarter-on-quarter) [1][2] - The company forecasts revenues of 1.76 billion, 2.21 billion, and 2.74 billion for 2025, 2026, and 2027 respectively, with year-on-year growth rates of 26%, 26%, and 24% [2][3] Key Financial Metrics - The projected earnings per share (EPS) for 2025, 2026, and 2027 are 0.47, 0.70, and 1.00 respectively [3] - The price-to-earnings (P/E) ratio is expected to decrease from 95.7 in 2023 to 21.5 in 2027, indicating improved valuation over time [3]

Investment Rating - The report maintains a "Strong Buy" rating for the company [3] Core Views - The company has experienced rapid growth in its high-temperature alloy business, with an increasing proportion of overseas revenue [6] - In H1 2025, the company achieved operating revenue of 829 million yuan, a year-on-year increase of 15.72%, and a net profit attributable to shareholders of 53.04 million yuan, also up 15.53% year-on-year [6][7] - The company is focusing on international expansion, with plans to establish production bases in Singapore and Malaysia, and has signed long-term agreements with several overseas clients [6] Financial Performance - The company reported a Q2 revenue of 485 million yuan, reflecting a year-on-year growth of 21.30% and a quarter-on-quarter increase of 40.97% [6] - The revenue from high-temperature corrosion-resistant alloys reached 603 million yuan, with a year-on-year growth of 17.98% [6] - The gross profit margin for domestic revenue was 15.34%, while for overseas revenue it was 17.22% [6] Profit Forecast - The company forecasts net profits attributable to shareholders of 99 million yuan, 129 million yuan, and 162 million yuan for the years 2025, 2026, and 2027, respectively [6][7] - Corresponding PE ratios are projected to be 54, 41, and 33 for the same years [6][7] Market Position - The company is well-positioned to benefit from the increasing global demand for high-temperature alloys, particularly in the aerospace and gas turbine sectors [6] - The report highlights the ongoing shift of supply chains towards China, which may present significant opportunities for the company [6]

Investment Rating - The report gives an "Accumulate" rating for the company [4]. Core Views - The company is a rising star in the domestic high-temperature alloy sector, driven by increasing demand from the aerospace and gas turbine industries [2][4]. - The company focuses on high-temperature alloys and alloy materials, with a diverse range of products including cast and deformed high-temperature alloys and alloy pipes [2][4]. - The company is expected to achieve revenue and net profit growth in 2024, with revenue of 1.391 billion yuan and net profit of 66 million yuan, representing year-on-year growth of 15.22% and 19.38% respectively [2][4]. Summary by Sections Company Overview - The company specializes in high-temperature alloys and alloy materials, with products that cover military and civilian applications [2][4]. - The company aims to become a world-class high-temperature alloy manufacturer, having established production lines for both cast and deformed high-temperature alloys [19][20]. Market Demand - The demand for high-temperature alloys is expected to rise due to the growth in the aerospace engine and gas turbine markets, with global civil aviation showing promising prospects [2][40]. - The company is well-positioned to benefit from the restructuring of supply chains by overseas aerospace manufacturers, which presents opportunities for domestic suppliers [52]. Financial Projections - The company is projected to achieve revenues of 1.759 billion yuan in 2025, 2.209 billion yuan in 2026, and 2.736 billion yuan in 2027, with corresponding net profits of 115 million yuan, 173 million yuan, and 247 million yuan [3][14]. - The expected earnings per share (EPS) for 2025, 2026, and 2027 are 0.47 yuan, 0.70 yuan, and 1.00 yuan respectively [14]. International Expansion - The company is actively expanding its international customer base and has signed long-term agreements with several overseas clients, enhancing its global supply chain presence [2][30]. - The overseas revenue is expected to significantly contribute to the company's growth, with a projected increase of 128.69% in 2024 [30]. Product Segmentation - The company's revenue from high-temperature alloys and alloy pipes is expected to reach 959 million yuan and 346 million yuan respectively in 2024, with year-on-year growth of 18.97% and 15.97% [24]. - The aerospace sector is the core application area for the company's products, with significant revenue contributions from aerospace, gas turbines, and automotive sectors [28].

Core Viewpoint - Jiangsu Longda Superalloy Co., Ltd. has received an inquiry letter from the Shanghai Stock Exchange regarding its 2024 annual report, prompting the company to provide clarifications and corrections related to its financial disclosures and operational performance [1]. Financial Performance - The company reported significant revenue growth in the aerospace, gas turbine, and automotive turbocharger sectors, with increases of 46.64%, 67.34%, and 52.34% respectively [1]. - Other business revenues amounted to 85.724 million yuan [1]. - The company adjusted its financial data, ensuring that the corrections do not impact the overall financial status or cash flow for the years 2023 and 2024 [1]. Revenue Structure - The revenue structure for 2024 shows a notable increase in the aerospace sector, driven by demand from key domestic aerospace manufacturers [5]. - The gas turbine sector also experienced substantial growth, attributed to increased demand from domestic and international high-temperature alloy material service providers [9]. - The automotive turbocharger sector's revenue decreased from 16.08% in 2022 to 3.4% in 2024, indicating a shift in market dynamics [1]. Client Performance - The top five clients in the aerospace sector contributed significantly to revenue, with notable sales increases observed from key clients [6]. - The company’s sales to client one in the aerospace sector increased dramatically, reflecting a growing demand for domestic civil aviation engine materials [5]. - In the gas turbine sector, sales to client nine surged due to increased high-temperature alloy demand, highlighting the impact of domestic projects on revenue growth [9]. Sales Model Analysis - The company categorizes its sales into direct sales and dealer models, with direct sales representing end-user transactions and dealer sales involving trade merchants [3]. - Adjustments in sales models have been made to better reflect the operational realities and market conditions [3].