Core Viewpoint - Haomai Technology's stock price has shown a significant increase of 33.22% year-to-date, despite a recent decline of 3.69% over the last five trading days, indicating volatility in the market [1][2]. Financial Performance - For the period from January to September 2025, Haomai Technology achieved a revenue of 8.076 billion yuan, representing a year-on-year growth of 26.88% [2]. - The net profit attributable to shareholders for the same period was 1.788 billion yuan, reflecting a year-on-year increase of 26.21% [2]. Shareholder Information - As of September 30, 2025, the number of shareholders for Haomai Technology reached 18,100, an increase of 9.88% compared to the previous period [2]. - The average number of circulating shares per shareholder was 43,850, which decreased by 8.99% from the previous period [2]. Dividend Distribution - Since its A-share listing, Haomai Technology has distributed a total of 3.976 billion yuan in dividends, with 1.417 billion yuan distributed over the last three years [3]. Major Shareholders - As of September 30, 2025, Hong Kong Central Clearing Limited was the fifth-largest circulating shareholder, holding 28.5043 million shares, an increase of 2.1456 million shares from the previous period [3]. - Dachen Gaoxin Stock A (000628) ranked as the sixth-largest circulating shareholder, holding 20.2601 million shares, a decrease of 1.875 million shares from the previous period [3].

Investment Rating - The report maintains a "Buy" rating for the company [5] Core Insights - The company achieved a revenue of 8.076 billion yuan in the first three quarters of 2025, representing a year-on-year increase of 26.89%. The net profit attributable to shareholders reached 1.788 billion yuan, up 26.21% year-on-year [2] - The company's profitability remains stable, with a gross margin of 33.99%, a slight decrease of 0.95 percentage points year-on-year. The net profit margin was 22.15%, down 0.14 percentage points year-on-year [3] - The demand for large components is strong, and the CNC machine tool business is opening new growth opportunities. The tire mold business remains stable, while the large component machinery products benefit from the booming gas turbine market. The CNC machine tool business saw a significant revenue increase of 145% year-on-year in the first half of 2025 [4] Financial Performance Summary - For 2023A, the total revenue is projected at 7.166 billion yuan, with a year-on-year growth of 7.88%. The net profit attributable to shareholders is expected to be 1.612 billion yuan, reflecting a growth of 34.33% [1] - The company forecasts a total revenue of 11.103 billion yuan for 2025E, with a year-on-year increase of 25.97%. The net profit attributable to shareholders is estimated at 2.513 billion yuan, a growth of 24.95% [1][5] - The earnings per share (EPS) for 2025E is projected to be 3.14 yuan, with a price-to-earnings (P/E) ratio of 18.48 based on the current price [1][5]

Core Viewpoint - Haomai Technology experienced a decline of 1.17% in stock price on October 17, with a trading volume of 155 million yuan, indicating a potential shift in investor sentiment and market dynamics [1]. Financing Summary - On October 17, Haomai Technology had a financing buy-in amount of 13.02 million yuan and a financing repayment of 25.90 million yuan, resulting in a net financing outflow of 12.87 million yuan [1]. - The total financing and securities balance for Haomai Technology reached 491 million yuan, with the current financing balance of 487 million yuan accounting for 1.09% of the circulating market value, which is above the 90th percentile level over the past year, indicating a high level of financing activity [1]. - In terms of securities lending, Haomai Technology repaid 400 shares and sold 2,900 shares on October 17, with a selling amount of 162,100 yuan, while the securities lending balance stood at 4.23 million yuan, below the 40th percentile level over the past year, suggesting a lower level of short-selling activity [1]. Financial Performance - For the first half of 2025, Haomai Technology reported a revenue of 5.265 billion yuan, reflecting a year-on-year growth of 27.25%, and a net profit attributable to shareholders of 1.197 billion yuan, which is a 24.65% increase compared to the previous year [2]. Shareholder and Dividend Information - Since its A-share listing, Haomai Technology has distributed a total of 3.976 billion yuan in dividends, with 1.417 billion yuan distributed over the past three years [3]. - As of June 30, 2025, the number of shareholders increased by 2.82% to 16,500, while the average circulating shares per person decreased by 2.71% to 48,181 shares [2][3]. - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited holds 26.3588 million shares, a decrease of 558,900 shares from the previous period, while Dacheng Gaoxin Stock A holds 22.1351 million shares, down by 33,900 shares [3].

Core Insights - The stock of Haomai Technology increased by 2.88% on October 15, with a trading volume of 220 million yuan, indicating positive market sentiment towards the company [1] - The company reported a net financing outflow of 6.94 million yuan on the same day, with a total financing and margin balance of 505 million yuan, suggesting a high level of trading activity [1] - For the first half of 2025, Haomai Technology achieved a revenue of 5.265 billion yuan, reflecting a year-on-year growth of 27.25%, and a net profit of 1.197 billion yuan, up 24.65% year-on-year [2] Financing and Margin Data - On October 15, Haomai Technology had a financing buy-in of 10.97 million yuan, with a current financing balance of 500 million yuan, representing 1.10% of its market capitalization [1] - The company’s financing balance is above the 90th percentile of the past year, indicating a high level of investor interest [1] - The margin trading data shows that on October 15, there were no shares repaid, with 1,300 shares sold short, amounting to 74,000 yuan, and a margin balance of 4.1302 million yuan, which is below the 30th percentile of the past year [1] Shareholder and Dividend Information - As of June 30, the number of shareholders of Haomai Technology increased by 2.82% to 16,500, while the average number of circulating shares per shareholder decreased by 2.71% to 48,181 shares [2] - The company has distributed a total of 3.976 billion yuan in dividends since its A-share listing, with 1.417 billion yuan distributed in the last three years [3] - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited holds 26.3588 million shares, a decrease of 558,900 shares compared to the previous period [3]

Group 1 - The core viewpoint of the news is that Haomai Technology has seen a continuous increase in stock price, with a 5.9% rise over the last three days, reaching a price of 61.07 yuan per share and a market capitalization of 48.856 billion yuan [1] - Haomai Technology, established on March 31, 1995, specializes in the production and sales of automotive radial tire molds and tire manufacturing equipment, with its main business revenue composition being 49.91% from molds, 36.98% from large component machinery products, 9.62% from CNC machine tools, and 3.49% from other sources [1] - The trading volume for Haomai Technology was 202 million yuan, with a turnover rate of 0.42% [1] Group 2 - Minsheng Jia Yin Fund has a significant holding in Haomai Technology, with its Minsheng Jia Yin CSI 500 Index Enhanced Fund A (012926) holding 9,100 shares, accounting for 0.82% of the fund's net value, making it the third-largest holding [2] - The fund has achieved a year-to-date return of 30.63% and a one-year return of 56.49%, ranking 1705 out of 4220 and 1595 out of 3820 respectively in its category [2] - The fund manager, He Jiang, has a tenure of 14 years and 128 days, with a total fund asset size of 770 million yuan, while the co-manager, Zhou Shuai, has a tenure of 2 years and 106 days, managing assets of 351 million yuan [2]

Group 1 - The core viewpoint of the news is that Haomai Technology has seen a significant increase in its stock price, rising by 5.11% to 61.35 CNY per share, with a total market capitalization of 49.08 billion CNY [1] - Haomai Technology, established on March 31, 1995, and listed on June 28, 2011, specializes in the production and sales of automotive radial tire molds and tire manufacturing equipment, with its main business revenue composition being 49.91% from molds, 36.98% from large component machinery products, 9.62% from CNC machine tools, and 3.49% from other sources [1] Group 2 - From the perspective of fund holdings, Minsheng Jia Yin Fund has a significant position in Haomai Technology, with its Minsheng Jia Yin CSI 500 Index Enhanced Fund holding 9,100 shares, accounting for 0.82% of the fund's net value, making it the third-largest holding [2] - The Minsheng Jia Yin CSI 500 Index Enhanced Fund has achieved a year-to-date return of 27.93% and a one-year return of 59.51%, ranking 1718 out of 4220 and 1578 out of 3814 respectively [2] Group 3 - The fund manager of Minsheng Jia Yin CSI 500 Index Enhanced Fund, He Jiang, has a tenure of 14 years and 127 days, with the fund's total asset size at 770 million CNY and a best return of 60.59% during his tenure [3] - The other fund manager, Zhou Shuai, has a tenure of 2 years and 105 days, with the fund's total asset size at 351 million CNY and a best return of 34.57% during his tenure [3]

Company Overview - Haomai Technology Co., Ltd. is located in Gaomi City, Shandong Province, established on March 31, 1995, and listed on June 28, 2011. The company specializes in the production and sales of automotive radial tire molds and tire manufacturing equipment, along with related technology development [1]. - The main business revenue composition includes molds (49.91%), large component machinery products (36.98%), CNC machine tools (9.62%), and others (3.49%) [1]. Financial Performance - As of June 30, 2025, Haomai Technology achieved operating revenue of 5.265 billion yuan, representing a year-on-year growth of 27.25%. The net profit attributable to the parent company was 1.197 billion yuan, with a year-on-year increase of 24.65% [2]. - Since its A-share listing, the company has distributed a total of 3.976 billion yuan in dividends, with 1.417 billion yuan distributed over the past three years [3]. Stock Market Activity - On September 16, Haomai Technology's stock price decreased by 2.02%, trading at 58.32 yuan per share, with a total market capitalization of 46.656 billion yuan [1]. - The stock has seen a year-to-date increase of 17.13%, a decline of 4.74% over the last five trading days, a slight increase of 0.36% over the last 20 days, and a decrease of 3.87% over the last 60 days [1]. - As of June 30, 2025, the number of shareholders increased by 2.82% to 16,500, while the average circulating shares per person decreased by 2.71% to 48,181 shares [2]. Shareholder Information - As of June 30, 2025, the top ten circulating shareholders include Hong Kong Central Clearing Limited, holding 26.3588 million shares (a decrease of 558,900 shares), and Dacheng Gaoxin Stock A, holding 22.1351 million shares (a decrease of 339,000 shares) [3].

Company Overview - Haomai Technology Co., Ltd. is located in Gaomi City, Shandong Province, and was established on March 31, 1995. The company was listed on June 28, 2011. Its main business involves the production and sales of automotive radial tire molds and tire manufacturing equipment, along with related technology development [1]. - The revenue composition of Haomai Technology includes: molds 49.91%, large component machinery products 36.98%, CNC machine tools 9.62%, and others 3.49% [1]. Financial Performance - For the period from January to June 2025, Haomai Technology achieved operating revenue of 5.265 billion yuan, representing a year-on-year growth of 27.25%. The net profit attributable to the parent company was 1.197 billion yuan, with a year-on-year increase of 24.65% [2]. - Since its A-share listing, Haomai Technology has distributed a total of 3.976 billion yuan in dividends, with 1.417 billion yuan distributed over the past three years [3]. Stock Performance - As of September 15, Haomai Technology's stock price was 59.62 yuan per share, with a market capitalization of 47.696 billion yuan. The stock has increased by 19.74% year-to-date, with a 2.55% rise over the last five trading days [1]. - The stock experienced a net inflow of main funds amounting to 1.1906 million yuan, with large single purchases accounting for 11.39% of total transactions [1]. Shareholder Information - As of June 30, 2025, the number of shareholders of Haomai Technology was 16,500, an increase of 2.82% from the previous period. The average number of circulating shares per person was 48,181, a decrease of 2.71% [2]. - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited held 26.3588 million shares, a decrease of 558,900 shares compared to the previous period [3].

Core Viewpoint - Haomai Technology's stock has shown a mixed performance with a year-to-date increase of 22.21%, while recent trading days have seen slight gains and a decline over the past 60 days [1] Financial Performance - For the first half of 2025, Haomai Technology reported revenue of 5.265 billion yuan, representing a year-on-year growth of 27.25% [2] - The net profit attributable to shareholders for the same period was 1.197 billion yuan, reflecting a year-on-year increase of 24.65% [2] Shareholder Information - As of June 30, 2025, the number of shareholders for Haomai Technology was 16,500, an increase of 2.82% from the previous period [2] - The average number of tradable shares per shareholder was 48,181, which decreased by 2.71% compared to the previous period [2] Dividend Distribution - Since its A-share listing, Haomai Technology has distributed a total of 3.976 billion yuan in dividends, with 1.417 billion yuan distributed over the last three years [3] Institutional Holdings - As of June 30, 2025, Hong Kong Central Clearing Limited was the fifth-largest circulating shareholder, holding 26.3588 million shares, a decrease of 558,900 shares from the previous period [3] - Dacheng Gaoxin Stock A was the sixth-largest circulating shareholder, holding 22.1351 million shares, down by 33,900 shares from the previous period [3]

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company reported a revenue of 5.265 billion yuan for H1 2025, representing a year-on-year increase of 27.25%, and a net profit attributable to shareholders of 1.197 billion yuan, up 24.65% year-on-year, indicating stable growth [4][5] - In Q2 2025, the company achieved a record revenue of 2.986 billion yuan, with a year-on-year growth of 25.9%, and a net profit of 677 million yuan, reflecting a year-on-year increase of 20.87% [5] - The company's gross margin for H1 2025 was 34.48%, a slight decline of 0.74 percentage points compared to H1 2024, primarily due to a decrease in the gross margin of its main product, tire molds [5] - The company has diversified its business across multiple sectors, with the CNC machine tool segment showing significant growth, achieving a revenue increase of 145.08% year-on-year in H1 2025 [5][6] Summary by Sections Financial Performance - The company achieved a revenue of 5.265 billion yuan in H1 2025, with a net profit of 1.197 billion yuan, marking a year-on-year increase of 27.25% and 24.65% respectively [4][5] - The revenue for Q2 2025 reached 2.986 billion yuan, with a net profit of 677 million yuan, reflecting a year-on-year growth of 25.9% and 20.87% respectively [5] Business Segments - Tire molds accounted for 49.91% of total revenue in H1 2025, generating 2.628 billion yuan, with a year-on-year growth of 18.56% [5] - Large component machinery products contributed 36.98% of revenue, achieving 1.947 billion yuan, up 32.94% year-on-year, benefiting from strong demand in the gas turbine and wind power markets [6] - The CNC machine tool segment, a key focus for the company, generated 506 million yuan in revenue, marking a significant year-on-year increase of 145.08% [6] Profitability and Valuation - The company adjusted its revenue forecasts for 2025-2027 to 10.78 billion, 12.44 billion, and 14.20 billion yuan respectively, with net profits projected at 2.44 billion, 2.81 billion, and 3.24 billion yuan [8] - The current stock price corresponds to a PE ratio of 19.2, 16.6, and 14.4 for the years 2025-2027, indicating a favorable valuation given the company's market position and growth prospects [8]