截至2025年8月26日收盘，银都股份报17.52元，较前一交易日下跌1.02%。当日成交量为3.91万手，成 交金额达6800万元，振幅为2.77%。 资金流向方面，银都股份当日主力资金净流入125.79万元，近五个交易日累计净流入1551.15万元。 8月26日公司披露的半年报显示，拟向全体股东每10股派发现金红利3.5元。从财务数据来看，公司上半 年经营活动现金流净额为1.48亿元，同比下降51.07%；加权平均净资产收益率为11.66%，同比微升0.06 个百分点。 银都股份属于通用设备制造业，主营业务为商用餐饮设备的研发、生产、销售和服务。公司最新财报显 示，2025年上半年实现营业收入14.26亿元，归母净利润3.47亿元。 风险提示：以上内容仅供参考，不构成投资建议。市场有风险，投资需谨慎。 ...

Summary of Conference Call Records Industry or Company Involved - The discussion primarily revolves around the **mechanical industry** and its interactions with **U.S.-China trade relations** and **tariffs**. Specific companies mentioned include **Caterpillar**, **Genie**, **Apple**, **Amazon**, and **Stanley Black & Decker**. Core Points and Arguments - **U.S.-China Tariff Negotiations**: Ongoing negotiations indicate a possibility of reducing tariffs, particularly on non-strategic goods like textiles, which could benefit related industries [1][3] - **Transshipment Trade Risks**: Brand companies face high risks with transshipment trade due to legal issues, while basic processing companies, such as apparel firms, have lower legal risks and higher feasibility, potentially leading to better performance [4][5] - **Response to High Tariffs**: If high tariffs persist, companies like Stanley Black & Decker are shifting supply chains to Southeast Asia or Mexico and raising prices to mitigate tariff impacts. Chinese companies may also consider passing costs downstream [6] - **Healthy Demand in U.S. Market**: Caterpillar and Genie report healthy new order demand, primarily from large projects and infrastructure, alleviating concerns about market conditions [7] - **Apple and Amazon's Financial Impact**: Apple anticipates a $900 million increase in costs for Q2, which is manageable given its revenue scale. Amazon's retail prices have not significantly increased, but there is potential for future price hikes [10] - **Commercial Kitchen Equipment Industry**: Companies like Rational AG face increased costs due to tariffs on stainless steel, but have not yet raised prices. They are prepared to negotiate price increases if necessary [11] - **Overall Mechanical Industry Perspective**: The industry expects price increases in the U.S. market as a natural response to tariffs, with companies showing strong pricing power. However, demand fluctuations due to inflation remain a concern [12] - **Transshipment Trade Viability**: Despite high tariffs, transshipment trade remains a viable option, with companies showing stable growth. Attention should be given to emerging markets in Europe, Africa, and South America [13] - **Monitoring U.S. Consumer Market**: Upcoming earnings reports from major retailers like Walmart will be crucial for understanding U.S. consumer trends and adjusting research directions [14] Other Important but Potentially Overlooked Content - **Long-term Stability**: Historical data suggests that many sectors have shown relative stability even during economic downturns, indicating potential resilience in U.S. exports [12] - **Impact of Inflation on Demand**: Future inflation leading to a 10% price increase could create demand uncertainties, which is a critical concern for the export chain [12] - **Technological Developments**: The call also touched on advancements in humanoid robotics, particularly in hand-eye coordination and visual technology, which may influence future investment opportunities [14]