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伯特利跌2.02%,成交额4.15亿元,主力资金净流出3080.27万元
Xin Lang Cai Jing· 2025-10-10 05:35
资料显示,芜湖伯特利汽车安全系统股份有限公司位于中国(安徽)自由贸易试验区芜湖片区泰山路19 号,成立日期2004年6月25日,上市日期2018年4月27日,公司主营业务涉及汽车制动系统相关产品的研 发、生产和销售。主营业务收入构成为:智能电控产品45.59%,机械制动产品44.77%,机械转向产品 5.63%,其他(补充)2.92%,其他产品1.09%。 伯特利所属申万行业为:汽车-汽车零部件-底盘与发动机系统。所属概念板块包括:创投、中盘、比亚 迪概念、华为汽车、汽车零部件等。 10月10日,伯特利盘中下跌2.02%,截至13:15,报51.05元/股,成交4.15亿元,换手率1.33%,总市值 309.62亿元。 资金流向方面,主力资金净流出3080.27万元,特大单买入1939.97万元,占比4.67%,卖出3247.83万 元,占比7.82%;大单买入1.07亿元,占比25.88%,卖出1.25亿元,占比30.15%。 伯特利今年以来股价涨15.39%,近5个交易日跌3.15%,近20日涨8.55%,近60日涨3.91%。 今年以来伯特利已经1次登上龙虎榜,最近一次登上龙虎榜为2月6日。 机构持仓方 ...
伯特利股价涨5.12%,农银汇理基金旗下1只基金重仓,持有336.19万股浮盈赚取830.38万元
Xin Lang Cai Jing· 2025-09-16 06:20
9月16日,伯特利涨5.12%,截至发稿,报50.73元/股,成交11.09亿元,换手率3.67%,总市值307.68亿 元。 资料显示,芜湖伯特利汽车安全系统股份有限公司位于中国(安徽)自由贸易试验区芜湖片区泰山路19 号,成立日期2004年6月25日,上市日期2018年4月27日,公司主营业务涉及汽车制动系统相关产品的研 发、生产和销售。主营业务收入构成为:智能电控产品45.59%,机械制动产品44.77%,机械转向产品 5.63%,其他(补充)2.92%,其他产品1.09%。 从基金十大重仓股角度 数据显示,农银汇理基金旗下1只基金重仓伯特利。农银新能源混合A(002190)二季度持有股数336.19 万股,与上期相比持股数量不变,占基金净值比例为2.31%,位居第八大重仓股。根据测算,今日浮盈 赚取约830.38万元。 农银新能源混合A(002190)成立日期2016年3月29日,最新规模76.16亿。今年以来收益22.24%,同类 排名3863/8174;近一年收益43.07%,同类排名3854/7982;成立以来收益172.93%。 农银新能源混合A(002190)基金经理为左腾飞、邢军亮。 邢军 ...
伯特利股价涨5.23%,农银汇理基金旗下1只基金重仓,持有336.19万股浮盈赚取833.75万元
Xin Lang Cai Jing· 2025-09-15 02:11
截至发稿,左腾飞累计任职时间1年223天,现任基金资产总规模76.67亿元,任职期间最佳基金回报 38.04%, 任职期间最差基金回报37.16%。 邢军亮累计任职时间4年64天,现任基金资产总规模82.54亿元,任职期间最佳基金回报44.58%, 任职 期间最差基金回报-41.83%。 数据显示,农银汇理基金旗下1只基金重仓伯特利。农银新能源混合A(002190)二季度持有股数336.19 万股,与上期相比持股数量不变,占基金净值比例为2.31%,位居第八大重仓股。根据测算,今日浮盈 赚取约833.75万元。 农银新能源混合A(002190)成立日期2016年3月29日,最新规模76.16亿。今年以来收益19.86%,同类 排名4235/8246;近一年收益38.22%,同类排名4364/8054;成立以来收益167.63%。 农银新能源混合A(002190)基金经理为左腾飞、邢军亮。 9月15日,伯特利涨5.23%,截至发稿,报49.89元/股,成交5.88亿元,换手率1.96%,总市值302.59亿 元。 资料显示,芜湖伯特利汽车安全系统股份有限公司位于中国(安徽)自由贸易试验区芜湖片区泰山路19 号, ...
伯特利系列二十一-中报点评:上半年收入同比增长32%,公司海外业务加速【国信汽车】
车中旭霞· 2025-09-04 13:50
Core Viewpoint - In the first half of 2025, the company achieved a revenue of 5.048 billion yuan, a year-on-year increase of 31.58%, and a net profit attributable to shareholders of 522 million yuan, up 14.19% year-on-year. The sales volume of smart electronic control products increased by 43.10% year-on-year, while the sales of disc brakes and lightweight brake components also saw significant growth [2][8]. Group 1: Financial Performance - In the second quarter of 2025, the company reported a revenue of 2.5 billion yuan, a year-on-year increase of 20%, but a quarter-on-quarter decrease of 4%. The net profit attributable to shareholders was 252 million yuan, reflecting a year-on-year increase of 1.8% and a quarter-on-quarter decrease of 6.8% [2][8]. - The gross profit margin for Q2 2025 was 19.19%, down 2.24 percentage points year-on-year, while the net profit margin was 9.98%, down 1.78 percentage points year-on-year, attributed to product structure and annual decline transmission effects [3][14]. Group 2: Product Development and Market Position - The company is a leading domestic brake system manufacturer, with a continuous increase in designated projects. As of the first half of 2025, the number of projects under research reached 486, an increase of 8.97% year-on-year, and the number of new designated projects rose by 43.88% [4][22]. - The company has a strong competitive edge in technology, production capacity, and customer resources, benefiting from the automotive industry's shift towards lightweight and intelligent solutions [4][6]. Group 3: R&D and Innovation - The company is one of the few in China with independent intellectual property rights capable of mass-producing electronic parking brake systems, anti-lock braking systems, and electronic stability control systems. It is actively expanding its overseas R&D and production bases in countries like the USA, Mexico, and Morocco [6][28]. - Continuous investment in R&D is evident, with a 19% year-on-year increase in R&D expenses in Q2 2025, reflecting the company's commitment to innovation and product development [3][14]. Group 4: Future Outlook - The lightweight business is expected to grow at a compound annual growth rate of 25% in the coming years, driven by increasing aluminum usage in vehicles and the company's ongoing development of lightweight components [28][34]. - The electronic parking brake (EPB) system is anticipated to be a key driver of short-term performance growth, with the company successfully entering the supply chains of major automotive brands [34][36].
伯特利(603596):上半年收入同比增长32%,公司海外业务加速
Guoxin Securities· 2025-09-03 15:23
Investment Rating - The investment rating for the company is "Outperform the Market" [5][37]. Core Views - The company achieved a revenue of 5.048 billion yuan in the first half of 2025, representing a year-on-year growth of 31.58%, with a net profit of 522 million yuan, up 14.19% year-on-year. The sales volume of smart electronic control products increased by 43.10% [1][7]. - The company is positioned as a leading domestic brake system manufacturer, with a continuous increase in designated projects. It has advantages in technology, production capacity, and customer resources, benefiting from the automotive industry's shift towards lightweight and intelligent solutions [2][3]. - The company is actively investing in emerging high-growth sectors such as humanoid robots and automotive intelligence through partnerships, while also expanding its overseas research and production bases [3][17]. Financial Performance - The company reported a gross margin of 19.19% in Q2 2025, down 2.24 percentage points year-on-year, and a net profit margin of 9.98%, down 1.78 percentage points year-on-year. The company continues to invest in R&D, with R&D expenses increasing by 19% year-on-year in Q2 [2][14]. - Revenue projections for 2025-2027 are adjusted to 1.36 billion, 1.82 billion, and 2.32 billion yuan respectively, reflecting a downward revision due to increased pricing pressures from OEMs [3][37]. Product and Market Position - The company is one of the few domestic manufacturers with independent intellectual property rights capable of mass-producing electronic parking brake systems and other smart electronic control products, which are essential for the automotive industry's transition to electric and intelligent vehicles [3][26]. - The company has a robust pipeline of projects, with 486 projects under research as of the first half of 2025, an increase of 8.97% year-on-year, and 282 new designated projects, up 43.88% year-on-year [2][3]. Sales and Growth - The sales volume of smart electronic control products reached 2.86 million units in the first half of 2025, a 43.10% increase year-on-year. The company is expected to continue benefiting from the growing demand for lightweight components and electronic control systems in the automotive sector [1][27]. - The company is expanding its market share in the brake system sector, with a projected sales volume of 3.4 million disc brakes in 2024, representing a 22% year-on-year growth [22].
芜湖伯特利汽车安全系统股份有限公司
Zhong Guo Zheng Quan Bao - Zhong Zheng Wang· 2025-06-26 23:04
Core Viewpoint - The company is issuing convertible bonds with a credit rating of AA, indicating a stable outlook, while highlighting the importance of understanding associated risks in the automotive industry and market dynamics [1][2]. Group 1: Industry and Market Risks - The automotive parts industry is closely tied to the automotive manufacturing sector, which is cyclical and influenced by macroeconomic conditions. In 2023, China's automotive production and sales reached 30.16 million and 30.09 million units, respectively, marking year-on-year growth of 11.6% and 12.0% [2]. - The automotive parts market is experiencing intensified competition, with both international giants and domestic suppliers vying for market share. The shift from price competition to technology and brand competition is notable [2][3]. Group 2: Operational and Financial Risks - The company has a high customer concentration, with the top five customers accounting for 75.34% of revenue in the latest reporting period. This reliance on major clients poses risks if their demand decreases due to market pressures [3]. - The company has significant related-party transactions, particularly with Chery Automobile, which accounted for 44.44% of revenue. While these relationships are stable, any adverse changes could impact profitability [3]. - The company's gross margin has been declining, with rates of 20.45%, 19.50%, and 18.81% over the reporting periods. Increased competition and downward pressure on vehicle prices could further affect margins [4]. Group 3: Fundraising and Investment Risks - The company is raising funds for projects related to mechanical braking and intelligent electronic control products. Successful implementation is contingent on market conditions and customer demand [5][6]. - The company faces risks related to the international trade environment, particularly for its investment project in Mexico, which could be affected by changes in trade policies and market conditions in North America [7]. Group 4: Dividend Distribution Policy - The company has a stable profit distribution policy, prioritizing cash dividends, with a minimum of 10% of distributable profits to be paid out annually. The policy emphasizes reasonable returns to investors while ensuring sustainable development [8][9].
伯特利(603596):Q1营收增长亮眼 盈利能力有所承压
Xin Lang Cai Jing· 2025-05-02 14:32
Core Viewpoint - The company reported strong revenue growth in Q1 2025, but profitability faced pressure due to various factors, including increased production and new project launches [1] Group 1: Financial Performance - In Q1 2025, the company achieved revenue of 2.638 billion yuan, representing a year-on-year increase of 41.8% but a quarter-on-quarter decrease of 21.5% [1] - The net profit attributable to shareholders was 270 million yuan, up 28.8% year-on-year but down 37.3% quarter-on-quarter [1] - The gross margin for Q1 2025 was 17.97%, a decrease of 2.8 percentage points year-on-year and 2.9 percentage points quarter-on-quarter [1] Group 2: Product Sales and Growth - Major clients saw significant sales growth, with Chery up 17.9% year-on-year but down 27.1% quarter-on-quarter, Geely up 48% year-on-year and 2.5% quarter-on-quarter, and Changan up 1.9% year-on-year but down 9.5% quarter-on-quarter [1] - Sales of intelligent electronic control products reached 1.462 million units, a year-on-year increase of 58.4% [1] - Sales of disc brakes were 933,000 units, up 36.1% year-on-year, while lightweight brake components sold 3.438 million units, up 23.5% year-on-year [1] Group 3: Technological Advancements and Capacity Expansion - The company completed the manufacturing of B samples for its electronic mechanical brake system (EMB) and launched several new platforms, including WCBS1.5 and GEEA3.0 [2] - The company is expanding its lightweight component production capacity, with a planned annual capacity of 4 million units at its new facility in Mexico, which began operations in 2023 [2] - The Mexican production base is expected to enhance service levels for North American clients and foster deeper customer relationships [2] Group 4: New Market Opportunities - The company reported a 23.8% year-on-year increase in sales of mechanical steering products, with a net profit margin of 6.7%, reflecting significant integration effects [3] - Development of integrated control systems for automotive chassis, including line control braking and steering, is progressing well [3] - The company is actively promoting its L2 and L2+ level ADAS products and engaging in R&D for high-precision mapping and intelligent algorithms [3] Group 5: Earnings Forecast - The company forecasts EPS of 2.49, 3.27, and 4.18 yuan for 2025-2027, corresponding to PE ratios of 24, 18, and 14 times, with a projected CAGR of 28% for net profit attributable to shareholders [3]
伯特利(603596):2024年年报业绩点评:智能电控业务高增,底盘一体化布局成效显著
Yin He Zheng Quan· 2025-04-29 14:32
Investment Rating - The report maintains a "Recommended" rating for the company [2][8]. Core Insights - The company has achieved significant growth in its intelligent electronic control business, with a notable increase in revenue and net profit for 2024, driven by core customers' production increases [5][6]. - The integration of chassis systems has shown remarkable progress, with new products and production capacity expected to contribute to a second growth curve for the company [2][5]. - The company has successfully expanded its customer base, adding eight new clients in 2024, which strengthens its growth potential [5][6]. Financial Performance Summary - In 2024, the company reported total revenue of 9.937 billion yuan, a year-on-year increase of 32.95%, and a net profit attributable to shareholders of 1.209 billion yuan, up 35.60% [5][7]. - The revenue breakdown for 2024 shows mechanical braking, intelligent electronic control, and mechanical steering products generating revenues of 4.449 billion yuan, 4.530 billion yuan, and 0.559 billion yuan, respectively [5]. - The company’s gross margin for 2024 was 21.14%, with a slight decrease attributed to the ramp-up of lightweight product capacity [5][10]. Future Projections - The company is projected to achieve revenues of 13.072 billion yuan, 16.581 billion yuan, and 20.350 billion yuan for 2025, 2026, and 2027, respectively [7][8]. - The expected net profit for the same years is 1.540 billion yuan, 1.957 billion yuan, and 2.451 billion yuan, with corresponding EPS of 2.54 yuan, 3.23 yuan, and 4.04 yuan [8][10]. - The report anticipates a gradual decline in revenue growth rates, projecting 31.56% for 2025, 26.84% for 2026, and 22.73% for 2027 [7][10].
伯特利 | 2024:业绩超预期 智能电动齐驱【民生汽车 崔琰团队】
汽车琰究· 2025-04-24 09:15
01 事件概述 公司披露2024年报:2024年实现营收99.37亿元,同比+33.0%,归母净利12.09亿元,同比+35.7%,扣非归母净利11.13亿元,同比+30.2%;2024Q4实现营收33.58亿 元,同比+41.8%,环比+28.8%;归母净利4.31亿元,同比+45.3%/环比+34.4%;扣非归母净利4.04亿元,同比+28.9%/环比+40.6%。 披露2025年预算为收入127亿元/同比+28%,净利润15.1亿元/同比+24% 。 02 分析判断 ► 2024 年业绩超预期 电控业务净利率高增 公司 2024 年营收同比 +33% ,其中 2024Q4 营收同比 +41.8%/ 环比 +28.8% ,主要系: 1 )重点客户销量高增,奇瑞汽车 / 吉利汽车 2024 年销量分别同比 +38.4%/+27.6% , 且 2024 年公司新增客户 8 家; 2 )重点产品销量高增,智能电控 / 盘式制动器 / 轻量化零部件 / 机械转向产品 2024 年销量分别同比 +40.0%/+19.2%/+35.3%/+23.8% ,且新增 量产 / 定点项目 309 项 /416 项,新定点项目 ...
伯特利(603596):2024年业绩超预期智能电动齐驱
Xin Lang Cai Jing· 2025-04-24 00:37
Core Viewpoint - The company reported strong financial performance for 2024, with significant year-on-year growth in revenue and net profit, driven by increased sales from key customers and new product launches [1][2]. Financial Performance - In 2024, the company achieved revenue of 9.937 billion yuan, a year-on-year increase of 33.0%, and a net profit attributable to shareholders of 1.209 billion yuan, up 35.7% year-on-year [1]. - For Q4 2024, revenue reached 3.358 billion yuan, reflecting a year-on-year growth of 41.8% and a quarter-on-quarter increase of 28.8% [1]. - The net profit for Q4 2024 was 431 million yuan, showing a year-on-year increase of 45.3% and a quarter-on-quarter increase of 34.4% [1]. Business Growth Drivers - The growth in revenue was primarily due to significant sales increases from key customers, with Chery Automobile and Geely Automobile reporting year-on-year sales growth of 38.4% and 27.6%, respectively [2]. - The company added 8 new customers in 2024, contributing to the overall sales growth [2]. - Key products such as intelligent electronic control systems, disc brakes, lightweight components, and mechanical steering systems saw year-on-year sales growth of 40.0%, 19.2%, 35.3%, and 23.8%, respectively [2]. Profitability and Margins - The company's gross margin for 2024 was 21.1%, a decrease of 1.5 percentage points year-on-year, with Q4 2024 gross margin at 20.9%, down 2.2 percentage points year-on-year [3]. - The company benefited from scale effects, leading to a decrease in sales, management, R&D, and financial expense ratios [3]. Strategic Initiatives - The company is advancing in smart and electric vehicle technologies, becoming the first domestic supplier to mass-produce line control braking systems and planning to expand production capacity [3]. - The company is also the first domestic supplier to achieve mass production of EPB (Electronic Parking Brake) systems, with plans to increase production capacity by 1 million units [3]. - Global expansion efforts include establishing production bases in Mexico and planning a new base in Morocco [3]. Mergers and Acquisitions - The company acquired a 45% stake in Wanda in 2022 to enhance its automotive chassis business, leading to significant improvements in net profit margins [4]. - In November 2024, the company established Berteli Automotive Suspension Technology Company, aiming to add 200,000 units of suspension capacity annually [4]. Future Outlook - The company has set a 2025 revenue target of 12.7 billion yuan, representing a year-on-year increase of 28%, and a net profit target of 1.51 billion yuan, up 24% year-on-year [2]. - Revenue projections for 2025-2027 are 13.075 billion yuan, 17.089 billion yuan, and 22.044 billion yuan, with corresponding net profits of 1.594 billion yuan, 2.104 billion yuan, and 2.793 billion yuan [4].