9月23日，浙江力诺跌5.21%，截至发稿，报13.45元/股，成交1770.88万元，换手率1.26%，总市值18.56 亿元。浙江力诺股价已经连续4天下跌，区间累计跌幅4.25%。 资料显示，浙江力诺流体控制科技股份有限公司位于浙江省温州市瑞安市上望街道望海路2899号，成立 日期2003年1月9日，上市日期2020年6月8日，公司主营业务涉及工业控制阀的研发、生产和销售。主营 业务收入构成为：开关阀50.30%，调节阀37.16%，工艺阀6.29%，配件5.47%，其他(补充)0.78%。 从浙江力诺十大流通股东角度 大成景恒混合A（090019）基金经理为苏秉毅。 截至发稿，苏秉毅累计任职时间13年231天，现任基金资产总规模12.4亿元，任职期间最佳基金回报 242.57%， 任职期间最差基金回报-71.74%。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 责任编辑：小浪快报 数据显示，大成基金旗下1只基金位居浙江力诺十大流通股东。大成景恒混合A（09001 ...

Core Viewpoint - Zhejiang Lino's stock price has shown fluctuations with a year-to-date increase of 17.67%, while facing a decline of 6.66% over the past 20 days [2] Company Overview - Zhejiang Lino Fluid Control Technology Co., Ltd. was established on January 9, 2003, and went public on June 8, 2020. The company specializes in the research, production, and sales of industrial control valves [2] - The company's revenue composition includes: 50.30% from switch valves, 37.16% from regulating valves, 6.29% from process valves, 5.47% from accessories, and 0.78% from other sources [2] - As of June 30, 2025, the number of shareholders increased by 20.42% to 10,500, while the average circulating shares per person decreased by 16.96% to 9,692 shares [2] Financial Performance - For the first half of 2025, Zhejiang Lino reported a revenue of 406 million yuan, representing a year-on-year decrease of 10.77%. The net profit attributable to shareholders was 7.19 million yuan, down 68.12% year-on-year [2] - The company has distributed a total of 137 million yuan in dividends since its A-share listing, with 89.07 million yuan distributed over the past three years [3] Shareholding Structure - As of June 30, 2025, the top ten circulating shareholders include Dazheng Jingheng Mixed A (090019) holding 832,200 shares, unchanged from the previous period, and Nuoan Multi-Strategy Mixed A (320016) as a new shareholder with 712,300 shares [3]

Group 1 - Zhejiang Lino Fluid Control Technology Co., Ltd. experienced a stock decline of 5.03% on August 27, with a share price of 14.92 yuan and a total market capitalization of 2.059 billion yuan [1] - The company, established on January 9, 2003, and listed on June 8, 2020, specializes in the research, production, and sales of industrial control valves [1] - The revenue composition of the company's main business includes: switch valves 61.08%, regulating valves 27.45%, process valves 9.98%, accessories 0.83%, and others 0.66% [1] Group 2 - Among the top ten circulating shareholders of Zhejiang Lino, Dazhong Fund's Dazhong Jingheng Mixed A (090019) holds 832,200 shares, unchanged from the previous period, representing 0.82% of circulating shares [2] - The Dazhong Jingheng Mixed A fund has a current scale of 397 million yuan and has achieved a return of 38% this year, ranking 1182 out of 8194 in its category [2] - Over the past year, the fund has returned 100.94%, ranking 275 out of 7963, and since its inception, it has achieved a return of 363.38% [2] Group 3 - The fund manager of Dazhong Jingheng Mixed A is Su Bingyi, who has a cumulative tenure of 13 years and 204 days, managing assets totaling 1.24 billion yuan [3] - During his tenure, the best fund return was 241.47%, while the worst return was -71.74% [3]

Core Insights - The article highlights the transformation of the manufacturing industry driven by Industry 4.0, emphasizing the integration of new information technologies with manufacturing processes [1] - Zhejiang Lino has made significant contributions to domestic substitution in the valve industry while achieving remarkable growth [1] Company Overview - Zhejiang Lino has been focused on the research, production, sales, and after-sales service of industrial control valves since its establishment in 2004, providing customized solutions for process control systems [4] - Initially, 90% of the company's orders came from the paper industry, but it shifted its strategy in 2008 to penetrate other sectors such as petrochemicals and mining [4] - The company went public on the New Third Board in 2014 and successfully listed on the Growth Enterprise Market in June 2020, with revenue surpassing 500 million yuan in 2018 [4][5] Technological Innovation - Zhejiang Lino has established itself as a "hidden champion" in the industrial automation wave, achieving significant upgrades from technology introduction to independent innovation [5] - The company has a strong focus on R&D, with 107 authorized patents as of the end of 2024, and collaborates with research institutions and universities to enhance its R&D capabilities [11][10] Domestic Substitution Efforts - Control valves are critical in process industries, yet the domestic substitution rate for core components like positioners is below 10% [12] - In 2023, Zhejiang Lino established a subsidiary in Mianyang to tackle key technologies in collaboration with Xi'an Jiaotong University [12] - The company achieved a breakthrough in March 2025 with the mass production of self-developed intelligent positioners, becoming one of the few companies in China to achieve full-chain autonomy in control valves [13] Smart Manufacturing - The company has invested in an 82-acre smart manufacturing base, enhancing production capacity and integrating digital technologies for real-time data feedback [15] - The use of AI digital twin platforms allows customers to monitor workshop dynamics remotely, promoting transparency and trust in the industrial ecosystem [16] Strategic Acquisitions - Zhejiang Lino announced the acquisition of Xuzhou Chemical Machinery Co., which will enhance its full industry chain layout and expand its market share in various sectors [17][18] - The acquisition will enable the company to integrate its product offerings, including control valves and intelligent positioners, across different industrial applications [18] Future Vision - The company emphasizes employee well-being by creating facilities such as reading areas and sports amenities, aiming to foster a positive work environment [19][20] - Chairman Chen Xiaoyu likens the company's long-term strategy to the aging process of white tea, suggesting that patience and focus on core competencies will yield enduring success [22][24]

Core Viewpoint - The company, Zhejiang Lino Fluid Control Technology Co., Ltd., reported a significant decline in revenue and net profit for the year, attributed to various market challenges, while emphasizing its commitment to high-quality development and strategic investments in technology and industry chain expansion [11][12]. Company Overview - Zhejiang Lino focuses on the research, production, sales, and after-sales service of industrial control valves, providing customized and systematic solutions for process control systems [6][7]. - The main product categories include control valves, process valves, positioners, and accessories, which are essential in various industries such as petrochemical, energy, and pharmaceuticals [6][8]. Financial Performance - For the reporting period, the company achieved an operating income of CNY 932.81 million, a year-on-year decrease of 16.05% - The net profit attributable to shareholders was CNY 18.33 million, down 82.88% year-on-year - Total assets at the end of 2024 were CNY 1.54 billion, an increase of 5.84% from the beginning of the year, while net assets decreased by 1.95% to CNY 987.31 million [11]. Profit Distribution - The company proposed a cash dividend of CNY 1.50 per 10 shares, totaling CNY 20.70 million, with no stock dividends or capital reserve transfers [12][19]. Strategic Initiatives - The company plans to concentrate resources on core business areas, enhance cost control, and improve operational efficiency to boost profitability [12]. - It aims to strengthen its technology development, product quality, and digital transformation while expanding its industry chain layout [11]. Investment Activities - The company increased its stake in Longyou Krite Machinery Equipment Co., Ltd. to 53.45% through a capital increase and acquisition of additional shares [13][14]. - It also acquired a 33.38% stake in Jiangsu Fengci New Materials Technology Co., Ltd. during the reporting period [14]. Governance and Compliance - The company’s board and supervisory committee meetings were conducted in compliance with relevant laws and regulations, ensuring transparency and accountability in decision-making [18][67]. - The company plans to renew its audit engagement with Zhonghui Certified Public Accountants for the 2025 fiscal year [51][82].