资料显示，成都智明达电子股份有限公司位于四川省成都市青羊区敬业路108号T区1栋，成立日期2002 年3月28日，上市日期2021年4月8日，公司主营业务涉及面向军工客户,提供定制化嵌入式计算机模块和 解决方案。主营业务收入构成为：机载嵌入式计算机67.72%，其他20.83%，商业航天嵌入式计算机 6.14%，弹载嵌入式计算机3.22%，无人装备2.09%。 从基金十大重仓股角度 数据显示，招商基金旗下1只基金重仓智明达。招商中证2000指数增强A（019918）三季度增持13.55万 股，持有股数31.58万股，占基金净值比例为0.62%，位居第三大重仓股。根据测算，今日浮盈赚取约 51.47万元。 招商中证2000指数增强A（019918）成立日期2024年1月2日，最新规模5.73亿。今年以来收益38.4%， 同类排名596/4208；近一年收益36.84%，同类排名464/3981；成立以来收益59.71%。 11月24日，智明达涨5.14%，截至发稿，报33.35元/股，成交2727.64万元，换手率0.50%，总市值55.90 亿元。 截至发稿，王平累计任职时间15年160天，现任基金资产总规模 ...

Core Viewpoint - The company, Zhimingda, is a leading player in the embedded computer industry, focusing on customized solutions for military clients, with a significant increase in revenue and net profit in 2025 compared to previous years [1][6]. Group 1: Business Performance - In Q3 2025, Zhimingda achieved revenue of 512 million yuan, ranking 35th in the industry, significantly lower than the top competitors [2]. - The main business segments include airborne embedded computers, which accounted for 67.72% of revenue, while other segments contributed smaller percentages [2]. - The net profit for the same period was 81.99 million yuan, ranking 20th in the industry, but still below the top competitors [2]. Group 2: Financial Ratios - As of Q3 2025, the company's debt-to-asset ratio was 35.79%, higher than the industry average of 32.84%, indicating increased debt pressure [3]. - The gross profit margin was 47.98%, which, despite a slight decrease from the previous year, remains above the industry average of 34.84%, reflecting strong profitability [3]. Group 3: Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 85.39%, indicating growing investor interest [5]. - The average number of shares held per shareholder decreased by 46.06%, suggesting a shift in shareholder composition [5]. Group 4: Management Compensation - The chairman, Wang Yong, received a salary of 1.8419 million yuan in 2024, an increase of 801,300 yuan from the previous year [4]. - The general manager, Long Bo, maintained a stable salary of 1.7456 million yuan, reflecting consistency in management compensation [4]. Group 5: Future Outlook - The company reported a significant increase in product orders, with a total order backlog of 450 million yuan, indicating strong future revenue potential [6]. - Forecasts for net profit from 2025 to 2027 are projected to grow steadily, reflecting confidence in the company's growth trajectory [6].

Core Viewpoint - The stock of Zhimin Da has shown significant growth, with a year-to-date increase of 99.32%, indicating strong market performance and investor interest [1][2]. Financial Performance - For the period from January to September 2025, Zhimin Da achieved a revenue of 512 million yuan, representing a year-on-year growth of 145.16% [2]. - The net profit attributable to shareholders for the same period was 81.99 million yuan, reflecting a remarkable year-on-year increase of 995.37% [2]. Stock Market Activity - As of October 27, the stock price of Zhimin Da was 37.40 yuan per share, with a market capitalization of 6.269 billion yuan [1]. - The stock experienced a trading volume of 121 million yuan, with a turnover rate of 1.95% [1]. - The net inflow of main funds was 2.2413 million yuan, with significant buying activity from large orders [1]. Shareholder Information - As of September 30, the number of shareholders increased to 9,837, up by 85.39% from the previous period [2]. - The average number of circulating shares per shareholder decreased by 46.06% to 17,040 shares [2]. Dividend Distribution - Zhimin Da has distributed a total of 52.5689 million yuan in dividends since its A-share listing, with 31.7847 million yuan distributed over the past three years [3]. Institutional Holdings - As of September 30, 2025, notable institutional shareholders include Guangfa Small and Medium Cap Selected Mixed A and Guangfa Technology Power Stock, with new entries in the top ten shareholders [3].

Core Insights - The company, Zhimin Da, experienced a 2.32% decline in stock price on August 26, with a trading volume of 230 million yuan [1] - The company reported a significant increase in revenue and net profit for the first half of 2025, with revenue reaching 295 million yuan, a year-on-year growth of 84.83%, and a net profit of 38.3 million yuan, a staggering increase of 2147.93% [2] Financing and Trading Activity - On August 26, Zhimin Da had a net financing purchase of 5.5 million yuan, with a total financing balance of 218 million yuan, accounting for 3.43% of its market capitalization [1] - The company’s margin trading balance is at a high level, exceeding the 90th percentile of the past year [1] - The short selling activity on the same day included the repayment of 2,900 shares and the sale of 1,500 shares, with a short selling balance of 8,701 shares valued at approximately 329,800 yuan [1] Shareholder and Institutional Holdings - As of June 30, the number of shareholders increased by 7.98% to 5,306, with an average of 31,592 circulating shares per person, up 37.99% [2] - The company has distributed a total of 52.6 million yuan in dividends since its A-share listing, with 31.8 million yuan distributed over the past three years [2] - Notable institutional investors include Guangfa Technology Innovation Mixed A and Changxin National Defense Military Industry Quantitative Mixed A, with significant increases in their holdings [2]

Revenue and Profit Growth - The company achieved significant revenue and profit growth in the first half of 2025, with total operating revenue reaching 295 million yuan, an increase of 84.83% year-on-year [1] - The net profit attributable to shareholders was 38.298 million yuan, up 2147.93% year-on-year, while the net profit excluding non-recurring items was 35.6825 million yuan, an increase of 2901.58% [1] - In Q2, total operating revenue was 214 million yuan, a year-on-year increase of 93.77%, with net profit attributable to shareholders at 29.9803 million yuan, up 133.82% [1] Main Business Composition - The company's main business revenue is derived from several key areas, including embedded computers for aviation and other high-end equipment [2] Financial Indicators - The revenue from airborne embedded computers was 200 million yuan, accounting for 67.72% of total revenue, with a gross margin of 53.16% [4] - Other products generated revenue of 61.3986 million yuan, representing 20.83% of total revenue, with a gross margin of 58.58% [4] - The net profit margin was 12.99%, reflecting a year-on-year increase of 1116.13% [4] - The company's cash flow per share was 0.17 yuan, showing a year-on-year growth of 960.06% [4] Accounts Receivable and Cash Flow - The accounts receivable stood at 863 million yuan, which is 4437.75% of the latest annual net profit, indicating significant pressure on receivables collection [4] - The company's cash and cash equivalents amounted to 39.98 million yuan, a year-on-year increase of 89.64%, but the ratio of cash to current liabilities was only 21.92% [4] - The average net cash flow from operating activities over the past three years has been negative, highlighting potential financial pressure [4]