报告期内，公司陶机业务持续推进全球化布局，在埃及设立子公司，并在印度、埃及等地增设8个运营 网点，进一步拓展海外服务网络。同时，公司积极推进服务化与陶机通用化战略，墨水业务实现较好增 长，土耳其生产基地正在建设KAMI墨水工厂。 在海外建材业务方面，科特迪瓦陶瓷项目已于今年7月实现批量出砖。截至目前，公司在非洲7国共运营 21条建筑陶瓷产线、2条玻璃产线及2条洁具产线，年产能超过2亿平方米建筑陶瓷、40万吨玻璃及260万 件洁具。公司持续推动产线技改与工艺优化，玻璃业务产销量逐季提升，洁具产品成本和品质得到优 化。 锂电材料业务方面，公司人造石墨产品前三季度销量近7万吨，产销量同比增幅均超300%，盈利能力有 所提升。储能领域大电芯材料已实现规模化放量。此外，参股公司蓝科锂业前三季度碳酸锂产量约3.16 万吨，销量约3.15万吨，为科达制造归母净利润贡献2.71亿元。 公司表示，第四季度将继续依托战略规划、全球化布局及科技创新能力，全力推进年度经营目标的实 现。 中证报中证网讯(王珞)10月30日，科达制造（600499）发布2025年第三季度报告。报告显示，2025年前 三季度公司实现营收126.05亿元， ...

10月30日晚，科达制造（600499）发布2025年第三季度报告。数据显示，2025年前三季度，科达制造实 现营收126.05亿元，同比增长47.19%；归母净利润、扣非净利润则分别为11.49亿元、10.62亿元，同比 增长63.49%、66.96%。 另一方面，科达制造在服务化与陶机通用化的布局亦逐步深入，今年前三季度均实现稳健发展，其中墨 水业务保持较好增速。同时，科达制造土耳其生产基地建设KAMI墨水工厂，并将在后续推动模具、纳 米液生产等项目。 海外建材业务夯实长期竞争力 除了陶瓷机械业务外，海外建材亦是科达制造全球化版图中不容忽视的高潜力增长极。 产能布局方面，公司科特迪瓦陶瓷项目已于今年7月正式批量出砖。截至目前，科达制造已在非洲7国运 营21条建筑陶瓷产线、2条玻璃产线、2条洁具产线，合计形成年产超2亿平方米建筑陶瓷、40万吨玻璃 及260万件洁具的产能。 同时，科达制造亦持续推进陶瓷、玻璃及洁具项目的产线技改、工艺优化等工作，其中玻璃业务实现产 销量逐季度攀升，洁具产品成本及产品质量则持续优化。 其中，第三季度实现营收44.17亿元，同比增长超43.89%，创历史同期新高；归母净利润4.0 ...

[Table_Title] 证券研究报告 / 公司深度报告 非洲建材业务成长机遇显著 报告摘要： [Table_Summary] 核心业务为建材机械+海外建材，2025H1 盈利高增。公司前身为 1992 年 成立的佛山市城区科达五金机械厂，2002 年公司在上交所上市。2025H1， 公司实现营收 82 亿元同比+49%，归母净利润 7.5 亿元同比+64%，营收 与净利润同步高增，主要原因是海外建材业务产能释放叠加价格优化。 海外建材业务：非洲建材业务快速成长。公司从 2016 年开始进行海外建 材产能布局，与森大集团优势互补，建陶+玻璃+洁具多品类发力。截至 2025H1 海外建材业务在非洲肯尼亚、加纳、坦桑尼亚、塞内加尔、赞比 亚、喀麦隆、科特迪瓦 7 国拥有 11 个生产基地，运营 21 条建筑陶瓷产 线、2 条玻璃产线及 2 条洁具产线。2025H1 海外建材业务实现营收 37.7 亿元同比+90%，毛利率 36.8%同比+5.9pct。 非洲处于城镇化加速期，建材消费市场空间巨大。据联合国预测，至 2050 年非洲劳动年龄人口预计翻倍至 15 亿+；同时，撒哈拉以南非洲地区国 家目前城镇化率 4 ...

Group 1 - The core point of the news is that Dongpeng Holdings experienced a 5.01% drop in stock price, closing at 7.21 yuan per share, with a trading volume of 159 million yuan and a turnover rate of 1.89%, resulting in a total market capitalization of 8.342 billion yuan [1] - Dongpeng Holdings, established on November 4, 2011, and listed on October 19, 2020, is based in Foshan, Guangdong Province, and specializes in the research, production, and sales of building sanitary ceramics, including tiles and sanitary ware [1] - The main revenue composition of Dongpeng Holdings includes glazed tiles at 83.73%, sanitary ceramics at 6.81%, bathroom products at 5.86%, other products at 2.63%, and unglazed tiles at 0.96% [1] Group 2 - From the perspective of fund holdings, Ping An Fund has one fund heavily invested in Dongpeng Holdings, specifically the Ping An Balanced Optimal One-Year Holding Mixed A (013023), which increased its holdings by 10,000 shares in the second quarter, totaling 870,000 shares, representing 2.9% of the fund's net value [2] - The current estimated floating loss for the fund is approximately 330,600 yuan [2] - The Ping An Balanced Optimal One-Year Holding Mixed A fund was established on September 24, 2021, with a latest scale of 163 million yuan, and has achieved a year-to-date return of 5.2%, ranking 6661 out of 8160 in its category [2]

Core Viewpoint - Dongpeng Holdings experienced a stock price decline of 2.09% on October 20, 2023, with a current price of 7.49 CNY per share and a total market capitalization of 8.666 billion CNY [1] Group 1: Stock Performance - Year-to-date, Dongpeng Holdings' stock price has increased by 17.64%, with a 2.60% rise over the last five trading days, 4.61% over the last twenty days, and 28.47% over the last sixty days [1] - The company has appeared on the "Dragon and Tiger List" once this year, with the most recent occurrence on August 28, 2023, where net purchases amounted to 3.4919 million CNY [1] Group 2: Company Overview - Dongpeng Holdings, established on November 4, 2011, and listed on October 19, 2020, is based in Foshan, Guangdong Province, specializing in the research, production, and sales of building sanitary ceramics, primarily tiles and sanitary ware [2] - The revenue composition of Dongpeng Holdings includes glazed tiles (83.73%), sanitary ceramics (6.81%), bathroom products (5.86%), others (2.63%), and unglazed tiles (0.96%) [2] - The company is classified under the light industry manufacturing sector, specifically in home goods and tile flooring, and is associated with concepts such as share buybacks, graphene, small caps, new retail, and Olympic concepts [2] Group 3: Financial Performance - For the first half of 2025, Dongpeng Holdings reported a revenue of 2.934 billion CNY, a year-on-year decrease of 5.18%, while the net profit attributable to shareholders increased by 3.85% to 219 million CNY [2] - Since its A-share listing, Dongpeng Holdings has distributed a total of 1.331 billion CNY in dividends, with 744 million CNY distributed over the past three years [3] - As of June 30, 2025, the number of shareholders decreased by 0.40% to 27,800, with an average of 41,196 circulating shares per person, an increase of 0.37% [2][3]

Group 1 - The core point of the news is that Dongpeng Holdings experienced a decline of 5.06% in its stock price, reaching 7.69 yuan per share, with a trading volume of 174 million yuan and a turnover rate of 1.94%, resulting in a total market capitalization of 8.897 billion yuan [1] - Dongpeng Holdings, established on November 4, 2011, and listed on October 19, 2020, is primarily engaged in the research, production, and sales of building sanitary ceramics, including tiles and sanitary ware [1] - The revenue composition of Dongpeng Holdings is as follows: glazed tiles account for 83.73%, sanitary ceramics 6.81%, bathroom products 5.86%, others 2.63%, and unglazed tiles 0.96% [1] Group 2 - From the perspective of major fund holdings, Ping An Fund has one fund heavily invested in Dongpeng Holdings, specifically the Ping An Balanced Optimal One-Year Holding Mixed A Fund (013023), which increased its holdings by 10,000 shares in the second quarter, totaling 870,000 shares, representing 2.9% of the fund's net value [2] - The current floating loss for the Ping An Balanced Optimal One-Year Holding Mixed A Fund is approximately 356,700 yuan [2] - The fund was established on September 24, 2021, with a latest scale of 163 million yuan, and has achieved a year-to-date return of 5.59%, ranking 6637 out of 8160 in its category [2]

Group 1 - Dongpeng Holdings experienced a stock price increase of 5.48%, reaching 7.70 CNY per share, with a trading volume of 1.27 billion CNY and a turnover rate of 1.49%, resulting in a total market capitalization of 8.909 billion CNY [1] - The company, established on November 4, 2011, and listed on October 19, 2020, specializes in the research, production, and sales of building sanitary ceramics, primarily tiles and sanitary ware [1] - The revenue composition of Dongpeng Holdings includes glazed tiles at 83.73%, sanitary ceramics at 6.81%, bathroom products at 5.86%, other products at 2.63%, and unglazed tiles at 0.96% [1] Group 2 - Ping An Fund has a significant holding in Dongpeng Holdings, with the Ping An Balanced Preferred 1-Year Holding Mixed A Fund (013023) increasing its stake by 10,000 shares in the second quarter, totaling 870,000 shares, which represents 2.9% of the fund's net value [2] - The fund has generated a floating profit of approximately 348,000 CNY as of the latest report [2] - The Ping An Balanced Preferred 1-Year Holding Mixed A Fund was established on September 24, 2021, with a current size of 163 million CNY, yielding a return of 5.37% year-to-date and 8.64% over the past year [2]

Core Insights - Chinese enterprises are currently presented with a favorable window for investment in Africa, particularly in Ghana, which offers a stable political environment and supportive policies for foreign investment [1][4]. Company Overview - Senda Group is engaged in the research and production of various products, including ceramics, sanitary ware, household chemicals, personal care items, and hardware, operating 32 factories across 13 countries, with 11 located in Africa [3]. - In Ghana, Senda Group has established 9 factories focusing on products such as tiles, sanitary ware, baby diapers, laundry powder, soap, sanitary napkins, hardware, and cartons [3]. Market Position - The brand Softcare, under Senda Group, ranks first in Africa's baby diaper and sanitary napkin markets with market shares of 20.3% and 15.6%, respectively, based on projected 2024 sales [3]. - In terms of revenue for 2024, Softcare ranks second in the baby diaper and sanitary napkin markets, with market shares of 17.2% and 11.9% [3]. Strategic Importance - The Belt and Road Initiative serves as a crucial foundation for cooperation between Chinese enterprises and Africa, with significant contributions to Africa's economic development over the past decade [4]. - Senda Group's operations have positively impacted local livelihoods and contributed to the industrialization and modernization efforts in Africa, receiving high recognition from the Ghanaian government and its citizens [4].

Group 1 - The core point of the article is that Dongpeng Holdings has recently obtained 13 invention patents from the National Intellectual Property Administration, enhancing its intellectual property portfolio [1] - As of the announcement date, Dongpeng Holdings and its subsidiaries have accumulated a total of 2,525 patents, with 1,315 of them being valid [1] - The revenue composition for Dongpeng Holdings in the first half of 2025 shows that tiles account for 84.69%, sanitary ware for 12.67%, and other products for 2.63% [1] Group 2 - The market capitalization of Dongpeng Holdings is reported to be 8.5 billion yuan [2]

Company Overview - Dongpeng Holdings is located in Foshan, Guangdong Province, and was established on November 4, 2011. The company was listed on October 19, 2020. Its main business involves the research, production, and sales of building sanitary ceramics, represented by tiles and sanitary ware [1][2]. Financial Performance - For the first half of 2025, Dongpeng Holdings achieved a revenue of 2.934 billion yuan, a year-on-year decrease of 5.18%. The net profit attributable to the parent company was 219 million yuan, reflecting a year-on-year increase of 3.85% [2]. - Since its A-share listing, Dongpeng Holdings has distributed a total of 1.331 billion yuan in dividends, with 744 million yuan distributed over the past three years [3]. Stock Performance - As of September 26, Dongpeng Holdings' stock price increased by 2.13%, reaching 7.20 yuan per share, with a total market capitalization of 8.33 billion yuan. The stock has risen by 13.08% year-to-date [1]. - The company has seen a net inflow of main funds amounting to 3.0443 million yuan, with significant trading activity over the past 60 days, where the stock price increased by 26.98% [1]. Shareholder Information - As of June 30, the number of shareholders for Dongpeng Holdings was 27,800, a decrease of 0.40% from the previous period. The average circulating shares per person increased by 0.37% to 41,196 shares [2]. - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited is the sixth largest, holding 23.3987 million shares, an increase of 4.3828 million shares compared to the previous period [3]. Business Segmentation - The main revenue composition of Dongpeng Holdings includes glazed tiles (83.73%), sanitary ceramics (6.81%), bathroom products (5.86%), other products (2.63%), and unglazed tiles (0.96%) [1]. Industry Classification - Dongpeng Holdings is classified under the light industry manufacturing sector, specifically in home goods, focusing on tiles and flooring. The company is associated with various concept sectors, including share buybacks, graphene, Olympic concepts, virtual digital humans, and new retail [2].