8月28日晚间，鼎汉技术（300011）发布2025年半年度报告。报告显示，2025年1—6月，鼎汉技术实现 营收7.21亿元，稳中有增，实现归属于上市公司股东的净利润为967万元。其中二季度实现归属于上市 公司股东的净利润为2466.61万元，同比大增234.27%，环比增长264.47%；经营现金流为3279万元，同 比增长149%，环比增长139%，大幅改善。2025年上半年新增订单8.3亿元，同比取得良好增长。二季度 业绩增长的背后，是公司锚定市场开拓、科技创新、降本增效三大核心的成果落地。 资本加持夯实发展基础 在广州国资的引领下，鼎汉积极推进内部管理优化，凭借精细化管控措施，于上半年成功使管销财费用 率下降2.33个百分点，为公司战略转型筑牢了强劲的内生动力根基。与此同时，公司在资本市场动作不 断，控股股东广州工控资本拟全额认购公司本次增发股份，推动广州国资定增落地进程向前迈进一大 步。从行业趋势而言，中国城市轨道交通协会发布的《国创城轨发展规划》为轨道交通行业指明方 向，"十五五"期间将以新质生产力为引擎构建创新驱动、绿智发展的产业生态体系，这将促使轨交设备 更新周期加速、新能源装备替代成为重要 ...

Core Viewpoint - The company, Dinghan Technology, reported a revenue of 1.588 billion yuan for 2024, marking a year-on-year growth of 4.63%, with significant contributions from international business and a notable increase in net profit [1][2]. Financial Performance - The company achieved a net profit attributable to shareholders of 11.1163 million yuan, with a non-recurring net profit growth of 85.08% year-on-year [1]. - The total new orders for 2024 reached 1.836 billion yuan, with a backlog of 2.568 billion yuan by the end of the year [1]. - The operating cash flow net amount was 151 million yuan, reflecting a year-on-year increase of 26.8% [1]. Business Strategy - The company is focusing on "new quality productivity" as a core engine, enhancing revenue generation, quality improvement, and efficiency [1]. - It is deepening the integration of "high-end equipment + smart solutions" and expanding its market presence in both traditional and new sectors [1][4]. Market Segments - The rail transportation sector remains a key focus, with revenue from vehicle electrical equipment reaching 854 million yuan, a year-on-year increase of 19.04%, accounting for 53.81% of total revenue [3]. - Ground electrical equipment generated 458 million yuan in revenue, with a gross margin increase of 6.64 percentage points to 40.67% [3]. - Smart solutions contributed 265 million yuan, showing a slight growth of 0.99% [3]. Innovation and R&D - The company invested 116 million yuan in R&D for 2024, representing 7.33% of revenue, with a year-on-year increase of 8.3% [5][6]. - The workforce includes 351 R&D personnel, making up 23% of total employees [5]. - Innovations include advancements in signal power systems, vehicle auxiliary power systems, and smart solutions integrating various technologies [6][7]. New Market Opportunities - The company is exploring strategic emerging industries, achieving breakthroughs in fields such as new energy thermal management, smart warehousing, and industrial robotics [4]. - Notable projects include the development of thermal management products for major manufacturers and automated sorting systems for e-commerce logistics [4].