8月29日晚，海立股份（600619）发布2025年半年度报告。报告显示，上半年公司实现营业收入124.26 亿元，同比增长13.16%；实现归母净利润3335.46万元，同比增长693.76%。从披露的半年报来看，上半 年营收与利润双增长，主要是公司进一步发挥冷暖关联以及核心零部件主业优势，产品销售实现同比提 升；与此同时，汽车零部件主业积极提升全球运营效率，共同驱动业绩增长。 上半年，面对复杂严峻的外部环境及内部挑战，海立股份保持战略定力，以市场为导向、以客户为中 心、以技术为驱动，在冷暖与汽零双主业赛道上加速"质"的突破与"效"的提升，坚定不移走全球化、数 字化、绿色化的高质量发展新路，为"十四五"圆满收官蓄势，为"十五五"谋篇布局夯基。 冷暖关联主业量利双增，行业地位持续夯实 上半年，受全球气候变暖、国内政策刺激以及海外需求增长等因素带动，我国空调行业产销量稳步增 长，空调压缩机的需求也水涨船高。据产业在线统计，上半年，中国转子式压缩机行业销量17,003万 台，同比增长7.3%。 报告期内，海立股份冷暖关联主业核心产品在行业需求趋稳、价格竞争激烈的背景下，继续保持"量、 利、质"同步提升的强劲势头； ...

Core Insights - The company reported a revenue of 18.747 billion yuan for 2024, a year-on-year increase of 10.08%, and a net profit attributable to shareholders of 33.8485 million yuan, up 10.93% [1] - In Q1 2025, the company achieved a revenue of 6.753 billion yuan, a 21.03% increase year-on-year, and turned a profit with a net profit of 15.2561 million yuan [1] - The company emphasizes a dual business strategy focusing on core components for cooling and heating solutions and automotive parts [9] Business Performance - The company’s rotor compressor sales reached 37.34 million units in 2024, a 23.7% increase, outperforming the industry growth rate of 14.1% [2] - Export sales of rotor compressors hit 7.3 million units, marking a 35.1% increase [2] - The company’s gross profit margin improved to 13.52%, an increase of 1.71 percentage points year-on-year [1] Automotive Parts Development - The company has made significant improvements in its automotive parts segment, particularly after acquiring a 60% stake in Marelli's automotive air conditioning business [4] - Marelli's performance has stabilized, with strategic adjustments leading to improved profitability in 2024 [4] - New product developments in electric compressors and heat pump air conditioning for new energy vehicles have gained traction with major clients like Geely and BYD [4][5] Technological and Competitive Advantages - The company has developed five core competencies, including technological innovation, flexible large-scale intelligent manufacturing, and green supply chain management [3] - The company has established strong relationships with well-known domestic and international brands, enhancing its competitive position in the market [3] ESG and Sustainability Initiatives - The company has integrated ESG principles into its operations, achieving recognition as a leader in sustainable practices [8] - In 2024, the company added one "national-level" green factory and one "provincial-level" green factory, furthering its commitment to sustainability [8] - The company ranked 4th in the State-owned Assets Supervision and Administration Commission's ESG Pioneer Index for 2024, up from 48th in 2023 [8] Future Outlook - The company plans to continue its dual business strategy, increase R&D investment, and enhance market positioning while adhering to ESG principles [9]