万通液压上半年境外业务表现亮眼，公司境外收入同比增长41.24%。万通液压表示，公司通过持续优 化产品适配性及性能表现，深化与海外客户的合作，三大产品出口收入均实现增长。油气弹簧产品在国 际市场实现突破，定制化产品已逐步量产交付。 威贸电子表示，上半年，公司有多个汽车类项目实现量产，如商用物流车电池包线束、吉利银河和领克 等新能源车型充电枪组件、国产空气悬架线束总成等；还获得多个新项目定点，如零跑汽车高压控制线 束、华为尚界智能充电枪组件等。 研发能力不断增强 ● 本报记者罗京 9月以来，北交所上市公司迎来一波机构调研热潮。曙光数创、开特股份、万通液压等多家上市公司相 继发布投资者关系活动记录表，披露了近期接待机构调研的情况。从调研重点来看，产品研发、技术储 备及市场拓展成为机构高频关注的三大议题，折射出市场对北交所企业成长潜力的高度关注。 核心产品持续发力 多家北交所公司上半年凭借核心产品的市场竞争力，相关业务营收实现显著增长，展现出强劲的发展动 能。 得益于新一代C8000浸没液冷产品逐步部署以及冷板液冷行业渗透率的提升，曙光数创上半年营收同比 增长43.23%，其中，浸没液冷收入同比增长212.82%， ...

● 本报记者 罗京 9月以来，北交所上市公司迎来一波机构调研热潮。曙光数创、开特股份、万通液压等多家上市公司相 继发布投资者关系活动记录表，披露了近期接待机构调研的情况。从调研重点来看，产品研发、技术储 备及市场拓展成为机构高频关注的三大议题，折射出市场对北交所企业成长潜力的高度关注。 核心产品持续发力 多家北交所公司上半年凭借核心产品的市场竞争力，相关业务营收实现显著增长，展现出强劲的发展动 能。 得益于新一代C8000浸没液冷产品逐步部署以及冷板液冷行业渗透率的提升，曙光数创上半年营收同比 增长43.23%，其中，浸没液冷收入同比增长212.82%，冷板液冷收入同比增长42.36%。 曙光数创表示，上半年公司整体毛利率下降主要是收入结构变化导致，2023年ChatGPT问世以前，公司 收入主要来自浸没液冷收入，随着生成式AI对算力需求的增长，冷板液冷渗透率快速提升，公司抓住 市场机遇，积极布局互联网、运营商、金融等市场，截至上半年，冷板液冷收入占比已经达到公司总体 收入近一半。 开特股份主营业务为传感器类、控制器类和执行器类等产品的研发、生产和销售。上半年，公司执行器 类产品需求持续增加，销量上升，产品营 ...

Core Viewpoint - Wantong Hydraulic reported a strong performance in the first half of 2025, with significant growth in revenue and net profit, driven by innovation and market expansion efforts [1][2] Financial Performance - The company achieved operating revenue of 344 million yuan, a year-on-year increase of 13.12% - Net profit attributable to shareholders reached 67.32 million yuan, up 40.33% - Basic earnings per share were 0.57 yuan [1] Business Development - Focused on core business development, enhancing innovation, and implementing lean management practices - Steady growth in main business areas, with orderly progress in new product market development and significant results in international business expansion [1] - Research and exploration in electrification, intelligence, systemization, and servo control fields led to phased achievements in product iteration and technological innovation [1] Segment Performance - The revenue from special oil cylinders for dump trucks increased by 25.95% due to the positive effects of the old-for-new policy and the rapid growth of the new energy vehicle market [1] - The oil and gas spring products saw a revenue increase of 21.40%, with steady growth in order volume and enhanced brand influence [2] - Mechanical equipment cylinders benefited from active market expansion, with overall revenue growth of 3.96% in this segment [2] Market Analysis - Domestic market showed recovery in demand for special oil cylinders for dump trucks, with a year-on-year revenue increase of 9.74% - Internationally, the company achieved a significant revenue increase of 41.24%, driven by the high reliability and core technology advantages of its products [2]

Group 1 - The company reported a revenue of 344 million yuan in the first half of 2025, representing a year-on-year increase of 13.12% [1] - The net profit attributable to shareholders reached 67.32 million yuan, showing a year-on-year growth of 40.33% [1] - The net cash flow from operating activities was 108 million yuan, up 48.40% year-on-year [1] Group 2 - The company focused on four main industries: automotive, energy extraction equipment, engineering machinery, and national defense equipment, leading to significant growth in core products [1] - The revenue from specialized oil cylinders for dump trucks increased by 25.95% due to the positive effects of the vehicle replacement policy and the rapid growth of the new energy vehicle market [1] - The demand for oil and gas spring products surged, with revenue increasing by 21.40% year-on-year, and overseas revenue grew by 41.24% [2] Group 3 - The company enhanced its research and development efforts, with R&D expenses rising by 15.93%, focusing on innovative projects in smart driving and industrial robotics [2] - Lean management practices have improved the company's profitability, with a systematic upgrade of the entire value chain from R&D to sales [3] - Automation and digital transformation initiatives have significantly increased production efficiency and reduced costs [3]

Group 1: Investor Relations Activities - The company conducted an online investor communication meeting on June 13, 2025, with participation from various investment firms including 华夏基金, 泰康资产, and 红杉中国 [3] - The meeting was attended by the company's board members, including the Vice General Manager and Board Secretary, Ms. Wang Mengjun [3] Group 2: Product Applications in Autonomous Driving - The company has developed oil-gas suspension products for application in the autonomous and intelligent driving sectors, showcasing their potential [4] - In May 2025, the company participated in the global launch of the first 100 unmanned electric mining trucks, providing a full oil-gas suspension system and an integrated intelligent weighing system [4] Group 3: Competitive Advantages of Oil-Gas Spring Products - The company has a strong design matching capability, covering various vehicle types, including non-road wide-body mining vehicles and multi-axle heavy transport vehicles [5] - The company emphasizes quality control, cost management, and timely service, enhancing its market competitiveness [5] Group 4: Wind Power Applications - The company signed a strategic cooperation agreement with 盘古智能 in March 2025 to develop hydraulic systems for wind power [6] - Hydraulic cylinders are crucial in wind turbine systems, with a typical wind turbine requiring 14-18 hydraulic cylinders, which account for approximately 35%-45% of the system's value [7] Group 5: Electric Cylinder and Screw Products - The company's electric cylinders are primarily used in the military sector, with ongoing R&D efforts in advanced electric cylinder technologies [8] - The company is exploring new markets in industrial automation and humanoid robotics, focusing on the development of precision components like planetary roller screws [8]