10月9日，润邦股份盘中上涨2.11%，截至10:01，报7.26元/股，成交4276.50万元，换手率0.67%，总市 值64.36亿元。 截至9月19日，润邦股份股东户数2.81万，较上期增加0.37%；人均流通股31559股，较上期减少0.37%。 2025年1月-6月，润邦股份实现营业收入31.36亿元，同比减少0.42%；归母净利润1.63亿元，同比减少 6.11%。 分红方面，润邦股份A股上市后累计派现8.00亿元。近三年，累计派现4.02亿元。 机构持仓方面，截止2025年6月30日，润邦股份十大流通股东中，香港中央结算有限公司位居第三大流 通股东，持股4297.91万股，相比上期增加473.27万股。招商量化精选股票发起式A（001917）、汇添富 成长焦点混合（519068）退出十大流通股东之列。 责任编辑：小浪快报 资金流向方面，主力资金净流入276.58万元，特大单买入218.94万元，占比5.12%，卖出0.00元，占比 0.00%；大单买入948.54万元，占比22.18%，卖出890.90万元，占比20.83%。 润邦股份今年以来股价涨47.86%，近5个交易日涨4.31%，近20 ...

9月29日，润邦股份盘中上涨2.00%，截至10:52，报7.14元/股，成交6531.61万元，换手率1.05%，总市 值63.29亿元。 资金流向方面，主力资金净流入82.98万元，特大单买入123.97万元，占比1.90%，卖出122.40万元，占 比1.87%；大单买入1304.57万元，占比19.97%，卖出1223.16万元，占比18.73%。 润邦股份今年以来股价涨45.42%，近5个交易日涨4.54%，近20日涨7.85%，近60日涨12.26%。 资料显示，江苏润邦重工股份有限公司位于江苏省南通经济技术开发区振兴西路9号，成立日期2003年9 月25日，上市日期2010年9月29日，公司主营业务涉及高端装备业务(主要包括物料搬运装备、海上风电 装备、船舶配套装备等业务);以及环保业务(主要包括危废及医废处理处置服务、污泥处理处置服务等业 务)。主营业务收入构成为：物料起重搬运装备72.67%，海洋工程装备及配套装备12.76%，环保业务 10.56%，船舶及配套装备2.01%，其他业务1.30%，通用设备制造行业其他0.70%。 润邦股份所属申万行业为：机械设备-专用设备-能源及重型设备。所 ...

Core Viewpoint - On September 24, Runbang Co., Ltd. experienced a slight increase in stock price by 0.29%, with a trading volume of 112 million yuan, indicating a stable market interest in the company [1]. Financing Summary - On September 24, Runbang Co., Ltd. had a financing buy-in amount of 13.41 million yuan and a financing repayment of 9.44 million yuan, resulting in a net financing buy of 3.97 million yuan [1]. - As of September 24, the total financing and securities balance for Runbang Co., Ltd. was 160 million yuan, which represents 2.60% of its circulating market value, indicating a relatively low financing balance compared to the past year [1]. - The company had no shares repaid in securities lending on September 24, with 100 shares sold short, amounting to 696 yuan at the closing price, and the securities lending balance was also 696 yuan, which is above the 80th percentile of the past year [1]. Company Overview - Runbang Co., Ltd. is located in Nantong Economic and Technological Development Zone, Jiangsu Province, and was established on September 25, 2003, with its listing date on September 29, 2010 [2]. - The company's main business includes high-end equipment (material handling equipment, offshore wind power equipment, ship supporting equipment) and environmental protection services (hazardous waste treatment, sludge treatment) [2]. - The revenue composition of Runbang Co., Ltd. is as follows: material handling equipment 72.67%, marine engineering and supporting equipment 12.76%, environmental protection services 10.56%, ship and supporting equipment 2.01%, other businesses 1.30%, and general equipment manufacturing 0.70% [2]. Financial Performance - For the first half of 2025, Runbang Co., Ltd. reported a revenue of 3.136 billion yuan, a year-on-year decrease of 0.42%, and a net profit attributable to shareholders of 163 million yuan, down 6.11% year-on-year [2]. Dividend Information - Since its A-share listing, Runbang Co., Ltd. has distributed a total of 800 million yuan in dividends, with 402 million yuan distributed over the past three years [3]. Shareholder Information - As of June 30, 2025, Runbang Co., Ltd. had 28,100 shareholders, an increase of 0.37% from the previous period, with an average of 31,559 circulating shares per person, a decrease of 0.37% [2][3]. - Hong Kong Central Clearing Limited is the third-largest circulating shareholder, holding 42.9791 million shares, an increase of 4.7327 million shares from the previous period [3].

Company Overview - Runbang Co., Ltd. is located in Nantong Economic and Technological Development Zone, Jiangsu Province, and was established on September 25, 2003, with its listing date on September 29, 2010 [1] - The company primarily engages in high-end equipment business, including material handling equipment, offshore wind power equipment, and ship supporting equipment, as well as environmental protection services such as hazardous waste treatment and sludge disposal [1] - The revenue composition of the main business includes: 72.67% from material handling equipment, 12.76% from marine engineering and supporting equipment, 10.56% from environmental protection services, 2.01% from ship and supporting equipment, 1.30% from other businesses, and 0.70% from general equipment manufacturing [1] Stock Performance - On September 18, Runbang's stock increased by 5.09%, reaching a price of 7.02 CNY per share, with a trading volume of 1.23 billion CNY and a turnover rate of 2.04%, resulting in a total market capitalization of 62.23 billion CNY [1] Fund Holdings - Xinhua Fund holds a significant position in Runbang, with its Xinhua Active Value Flexible Allocation Mixed A Fund (001681) owning 193,300 shares, accounting for 1.92% of the fund's net value, making it the seventh largest holding [2] - The fund has achieved a year-to-date return of 8.77%, ranking 6078 out of 8172 in its category, and a one-year return of 35.28%, ranking 4831 out of 7980 [2] Fund Manager Information - The fund manager of Xinhua Active Value Flexible Allocation Mixed A Fund is Lin Zhai, who has been in the position for 5 years and 254 days, managing a total asset size of 181 million CNY [3] - During Lin Zhai's tenure, the best fund return was 14.33%, while the worst return was -5.55% [3]

Investment Rating - The investment rating for the company is "Accumulate" [2] Core Views - The company's performance in the first half of 2025 met expectations, with revenue of 3.136 billion yuan, a year-on-year decrease of 0.42%, and a net profit attributable to shareholders of 163 million yuan, down 6.11% year-on-year. However, the net profit excluding non-recurring items increased by 12.20% year-on-year [5] - The material handling equipment segment showed strong growth, with revenue of 2.279 billion yuan, up 26.51% year-on-year. The marine engineering equipment segment also performed well, with revenue of 400 million yuan, up 14.39% year-on-year, and is expected to enter a delivery phase starting in 2026 [5] - The company maintains good cost control, with a gross margin of 19.76% and a net margin of 6.73% in the first half of 2025. The operating cash flow was healthy, with a net cash flow from operating activities of 547 million yuan [6] Financial Performance Summary - For the first half of 2025, the company achieved a revenue of 3.136 billion yuan, with a slight decline in net profit but an increase in net profit excluding non-recurring items [5] - The company forecasts revenues of 7.491 billion yuan, 8.416 billion yuan, and 10.210 billion yuan for 2025, 2026, and 2027 respectively, with expected growth rates of -8.91%, 12.35%, and 21.31% [7] - The projected net profit attributable to shareholders for the same years is 454 million yuan, 520 million yuan, and 670 million yuan, with growth rates of -6.38%, 14.61%, and 28.83% respectively [7] - The company’s price-to-earnings ratios are projected to be 12.67, 11.06, and 8.58 for 2025, 2026, and 2027 respectively [7]

Investment Rating - The report maintains a "Buy" rating for the company, expecting a relative increase in stock price of over 20% compared to the benchmark index within six months [11]. Core Insights - The company reported a revenue of 8.224 billion yuan in 2024, representing a year-on-year growth of 14.50%. The net profit attributable to shareholders reached 485 million yuan, a significant increase of 775.84% year-on-year [3][5]. - For Q1 2025, the company achieved a revenue of 1.367 billion yuan and a net profit of 70 million yuan, reflecting a year-on-year growth of 12.28% [3]. - The material handling equipment segment saw a revenue increase of 43% year-on-year, contributing 5.894 billion yuan to the total revenue [4]. - The company has a healthy cash position with 3.747 billion yuan in cash as of Q1 2025, indicating strong liquidity [4]. Financial Performance Summary - The company’s gross margin improved to 23.85% in 2024, up by 3.42 percentage points year-on-year, while the net margin increased to 8.89%, up by 6.09 percentage points [4]. - The projected revenues for 2025-2027 are 7.871 billion yuan, 9.370 billion yuan, and 10.820 billion yuan, with expected growth rates of -4.3%, 19.06%, and 15.47% respectively [5][9]. - The estimated net profit for the same period is projected to be 456 million yuan, 590 million yuan, and 725 million yuan, with growth rates of -5.91%, 29.26%, and 22.98% respectively [5][9]. - The company’s price-to-earnings (P/E) ratios for 2025, 2026, and 2027 are projected to be 12.06, 9.33, and 7.59 respectively [5][9].