全球顶级资本突然盯上了中国的一批中小公司。 瑞士银行、摩根大通、高盛这些华尔街大佬，加上中 东土豪阿布达比，最近不约而同地把钱砸向6家中国企业。 他们可不是小打小闹，在路畅科技这一家公司身上，四家外资就抱团买了近200万股；而在鑫科材料， 巴克莱和摩根大通单家就分别砸进去417万股和318万股，出手就是几千万真金白银。 | 机构或基金名称 | 持有数量(股) | 持股变化(股) | | --- | --- | --- | | 刘郁 | 7069.77万 | 不变 | | 张剧 | 2095.26万 | 不变 | | 张正花 | 1026.85 F | 4-12.33万 | | 云南吉信泰富企业管理中心(有限合伙) | 984.25万 | 不变 | | 李光耀 | 472.01 7 | 4-2.00万 | | 黄晓娴 | 315.00万 | 不变 | | 张秀 | 200.00万 | 新进 | | BARCLAYS BANK PLC | 198.14万 | 新进 | | 叶来娣 | 155.1 可 写 可 天天注 | | 路畅科技成了外资眼中的香饽饽。 这家广东公司专门做汽车里的智能设备，像方向盘旁边的导航屏 ...

格隆汇8月20日丨博威合金(601137.SH)在投资者互动平台表示，公司是国内铜基特殊合金材料的引领 者，是研发驱动的数字化自进化型企业。在人工智能领域，公司材料的应用主要涉及：AI算力服务器 铜连接所用的高速连接器材料和以光模块屏蔽罩为代表的通讯电子器件屏蔽材料；GB300液冷板所用的 异型散热材料；算力服务器所用的供配电材料；新一代AI手机散热所用的VC材料。以上材料及公司提 供的散热解决方案使公司成为国内最主要的散热材料综合供应商。 ...

Business Overview - The company specializes in the R&D, design, production, and sales of precision functional components, automation equipment, and cooling solutions, with applications in smartphones, tablets, laptops, wearables, servers, graphics cards, data center equipment, communication base stations, photovoltaic solar energy, and new energy vehicles [1] - In 2024, the company achieved a revenue of CNY 818.84 million, representing a year-on-year growth of 22.10%, and a net profit attributable to shareholders of CNY 109.72 million, with a growth of 3.65% [1] Production Capacity and Strategy - The overall production capacity utilization rate is maintained at a reasonable level, with stable operations across production bases. The company plans to adjust capacity based on market demand and order growth in the second half of the year [2] - The company is open to potential mergers and acquisitions, focusing on targets that align with its strategic investment plans and enhance its market share and core competitiveness [3] Use of Funds - The company adopts a cautious approach to the use of excess raised funds, planning to invest based on market conditions and strategic needs. Until specific uses are determined, excess funds will be managed to improve efficiency and returns [4] Cooling Business Applications - The cooling business includes various products such as liquid cooling modules and air cooling modules, primarily focusing on servers and consumer electronics, with some involvement in automotive and energy storage applications [5] Customer Orders and Growth - The company reports a healthy order situation for the first half of 2025, with strategies in place to deepen existing customer relationships and explore new application scenarios to drive growth [6][7] Factory Distribution - Production bases are located in Shenzhen, Dongguan, Meizhou, and Huai'an, each with specific focuses to enhance operational efficiency and economic benefits [8] International Expansion - The company has established branches and production bases in the USA, Vietnam, and Thailand, enhancing its global production capabilities and local customer service [9] Share Buyback Plan - The company announced a share buyback plan of CNY 20-30 million at a price not exceeding CNY 62, emphasizing the importance of market conditions and stock price performance in executing this plan [10]

Group 1: 2024 Financial Performance - The company achieved a revenue of 818.84 million yuan in 2024, representing a year-on-year growth of 22.10% [1] - The net profit attributable to shareholders was 109.72 million yuan, with a year-on-year increase of 3.65% [1] - The net profit excluding non-recurring gains and losses was 95.73 million yuan, reflecting a year-on-year growth of 2.40% [1] Group 2: Market Trends and Challenges - The consumer electronics market is recovering, driven by the replacement cycle, AI technology, and emerging markets [1] - Challenges include global economic weakness affecting consumer spending, extended replacement cycles, and increased R&D costs due to rapid technological iteration [2] - Data security, privacy protection, and ESG requirements are reshaping the industry landscape [2] Group 3: Q1 2025 Performance - In Q1 2025, the company reported a revenue of 173.33 million yuan, a year-on-year increase of 33.76% [3] - The decline in net profit attributable to shareholders was 32.75%, primarily due to significant cost pressures during business expansion [4] Group 4: Future Growth Strategies - The company plans to expand into new business areas such as new energy vehicles and new materials while enhancing R&D investment in thermal management products [5] - The proposed cash dividend for 2024 is 72 million yuan, which is 8.00 yuan per 10 shares, pending shareholder approval [5][6] - Cumulative dividends from 2022 to 2024 will total 231 million yuan, accounting for 61.78% of the net profit attributable to shareholders over three years [6] Group 5: Shareholder Engagement and Market Position - The company is committed to enhancing investor confidence through improved communication and operational performance [5] - A shareholder reduction plan was disclosed, with a maximum of 1.8 million shares (2.00% of total shares) to be sold between March 13 and June 12, 2025 [7] - The thermal management business saw a revenue of 129 million yuan in 2024, marking a significant growth of 118.07% [8] Group 6: International Expansion - The company is actively establishing overseas operations, with bases in the USA and Vietnam, and plans to set up an assembly base in Thailand in 2025 [8] - The focus is on localizing production and enhancing collaboration with global clients to improve market share and profitability [8]

Investment Rating - The report maintains a "Buy" rating for the company [10] Core Views - The company reported a revenue of 11.49 billion yuan in Q1 2025, representing a year-on-year growth of 17.1%, and a net profit attributable to shareholders of 570 million yuan, which is a 23.5% increase year-on-year and a 62.2% increase quarter-on-quarter [6][10] - The company has diversified its operations, enhancing its technological and product advantages, particularly in the fields of industrial robots, AI glasses, and automotive electronics [6][8] Summary by Relevant Sections Financial Performance - In Q1 2025, the company achieved a revenue of 11.49 billion yuan, with a year-on-year growth of 17.1% and a net profit of 570 million yuan, up 23.5% year-on-year [6] - The company has maintained double-digit revenue growth for five consecutive quarters [6] Business Segments - The company has made significant advancements in various sectors, including: - **Robotics**: Established core technological capabilities in robot design and manufacturing, providing key components for humanoid robots [6] - **AI Glasses**: Focused on AR, VR, and MR technologies, supplying critical components to leading global clients [7] - **Foldable Screens**: Offers comprehensive solutions for high-end foldable devices, including key components like frames and heat dissipation solutions [7] - **Automotive Electronics**: Engaged in the production of battery structure components and is expanding into automotive cooling modules and charging products [8][9] Future Projections - The company forecasts net profits attributable to shareholders of 2.2 billion yuan, 2.9 billion yuan, and 3.3 billion yuan for 2025, 2026, and 2027 respectively, with corresponding EPS of 0.31, 0.41, and 0.47 yuan per share [10]

Investment Rating - The report maintains a "Buy" rating for the company [10] Core Views - The company achieved a revenue of 11.49 billion yuan in Q1 2025, representing a year-on-year growth of 17.1%, and a net profit attributable to the parent company of 570 million yuan, up 23.5% year-on-year and 62.2% quarter-on-quarter [5][6] - The company has diversified its operations, enhancing its technological and product advantages, particularly in the fields of industrial and special robots, AI glasses, and automotive electronics [6][7][8] - The company is positioned as a global leader in precision manufacturing, leveraging its core technologies in various sectors including robotics, AI, and automotive components [6][9] Financial Summary - The company forecasts net profits attributable to the parent company for 2025, 2026, and 2027 to be 2.201 billion, 2.892 billion, and 3.322 billion yuan respectively, with corresponding EPS of 0.31, 0.41, and 0.47 yuan per share [10] - Revenue projections for 2025, 2026, and 2027 are 48.676 billion, 55.856 billion, and 64.052 billion yuan, with year-on-year growth rates of 10.1%, 14.7%, and 14.7% respectively [12] - The company’s gross margin is expected to improve slightly from 15.8% in 2024 to 16.2% in 2027, while ROE is projected to increase from 8.9% to 12.1% over the same period [12]