证券代码：002960 证券简称：青鸟消防 编号：2025-005 青鸟消防股份有限公司 投资者关系活动记录表 （2025 年 8 月 26 日） 青鸟消防股份有限公司 | 投资者关系活动 | □特定对象调研 □分析师会议 | | --- | --- | | 类别 | □媒体采访 业绩说明会 | | | □新闻发布会 □路演活动 | | | □现场参观 | | | □其他 | | 参与单位名称及 | 交银施罗德基金管理有限公司、中庚基金管理有限公司、长信基金管理 | | 人员姓名 | 有限责任公司、泉果基金管理有限公司、长江证券(上海)资产管理有限 | | | 公司、HARVEST FUND LIMITED、ArtIvet Cap；开源证券股份有限公 | | | 司、东亚前海证券有限责任公司、华泰证券股份有限公司、华龙证券股 | | | 份有限公司、华创证券有限责任公司、财通证券股份有限公司、中国国 | | | 际金融股份有限公司、兴业证券股份有限公司、长江证券股份有限公司、 | | | 国盛证券有限责任公司、财通证券股份有限公司、方正证券股份有限公 | | | 司、中泰证券股份有限公司、华安证券股份有限公 ...

证券研究报告 | 半年报点评 gszqdatemark 2025 08 26 年 月 日 青鸟消防（002960.SZ） 25H1 业绩短期承压，多元化布局展现经营韧性 业绩短期承压，经营韧性凸显，业务结构持续优化。2025 年上半年国内 地产竣工面积同比下滑，公司业绩短期承压，实现营业收入 21.5 亿元，同 比下降 5.04%；实现归母净利润 1.59 亿元，同比下降 16.06%。尽管面临 行业下行压力，公司核心的国内民商用报警与疏散业务展现出较强韧性， 实现营收 13.43 亿元，同比降幅（-7.48%）显著优于同期全国房屋竣工面 积下滑幅度（-14.8%），龙头地位稳固。公司整体业务结构正向高成长、 高毛利的工业与海外市场倾斜，为长期稳健发展奠定基础。 工业消防与海外业务双轮驱动，新兴领域打开增长空间。公司增量业务持 续发力，国内工业与行业消防业务实现稳步增长，上半年收入 3.52 亿元， 同比增长 3.27%。其中，数据中心及算力中心相关项目发货额超 9000 万 元，同比增长 50%以上；储能消防板块发货额近 6000 万元，同比增长近 90%，成为重要增长点。海外业务方面，上半年实现营收 3. ...

业绩简评 盈利预测、估值和评级 我们结合 Q2 财报调整此前预期，预计公司 25~27 年营业收 入分别为 49.7/54.3/59.8 亿元，同比+0.9%/+9.4%/+10.0%； 归母净利润分别为 4.7/6.0/6.8 亿元， 同 比 +33.3%/+28.2%/+12.3%，对应 20X/16X/14X PE，维持"买 入"评级。 风险提示 国内民商用消防行业出清不及预期；住宅更新节奏不及预期； 工业消防大客户突破不及预期。 0 200 400 600 800 1,000 1,200 7.00 8.00 9.00 10.00 11.00 12.00 240826 241126 250226 250526 人民币(元) 成交金额(百万元) 成交金额 青鸟消防 沪深300 2025 年 8 月 25 日，公司发布 2025 年中报。 Q2 整体业务稳中有韧性。1）收入端：1H25 实现营业收入 21.5 亿元，yoy-5.04%；2Q25 实现营业收入 12.67 亿元， Q1/2 同比增速分别为-3.64%/-5.99%。2）利润端：1H25 实 现归母净利 1.59 亿元，yoy-16.06%；2 ...

Core Insights - Tangshan High-tech Zone has become a key area for the collaborative development of the "robotics industry chain" in the Beijing-Tianjin-Hebei region, with 233 robotics companies and an industry scale of 3.9 billion yuan, showing a year-on-year growth of 20.3% in the first half of the year [1][2] Industry Development - Leading companies in the Tangshan High-tech Zone, such as Tangshan Kaiyuan Robot System Co., Ltd. and Tangshan Panasonic Industrial Machinery Co., Ltd., have established a complete welding robot industry chain, capturing a 30% market share domestically and ranking first in industry scale nationwide [2] - In the special robotics sector, Baichuan Group's train maintenance and inspection robots hold over 50% of the domestic market share, while CITIC Heavy Industries' firefighting robots dominate with a 70% market share [2] - The growth of leading enterprises has spurred the rapid development of supporting companies, including Hebei Eagle Eye Intelligent Technology Co., Ltd. and Tangshan Yinglai Robot System Co., Ltd., contributing to the initial emergence of industrial cluster effects [2] Application and Innovation - Tangshan High-tech Zone has opened 110 typical application scenarios, facilitating innovation through fiscal funding and promoting effective supply-demand matching [3][4] - The low-altitude "comprehensive one-time flight" intelligent inspection platform has completed over 400 test flights, showcasing the practical application of robotics in various scenarios [3] - The zone has organized 25 supply-demand matching events this year, resulting in over 10 cooperation orders among enterprises [3] Policy and Support - The Tangshan High-tech Zone has implemented various supportive policies for the robotics industry, including measures for high-quality development, shared factory construction plans, and talent recognition pilot programs [4][5] - A total of 7.2 billion yuan has been allocated to three special funds to attract quality enterprises to the region [4] - Collaborative innovation efforts with top universities have been established to enhance the conversion rate of technological achievements and optimize the "R&D + incubation + industrialization" ecosystem [4] Shared Manufacturing - The establishment of a shared manufacturing factory in collaboration with Baichuan Intelligent Machinery Co., Ltd. addresses challenges faced by startups, such as funding pressures and risks in technology transfer [5] - The shared intelligent manufacturing public service platform has supported 165 enterprises, generating a total output value of 135 million yuan [5]

Group 1 - Company closed at 30.54 yuan on August 21, down 0.46 yuan from the previous trading day [1] - Opening price was 30.80 yuan, with a high of 32.44 yuan and a low of 30.14 yuan, resulting in an intraday volatility of 7.42% [1] - Trading volume reached 158,000 hands, with a total transaction amount of 488 million yuan [1] Group 2 - Main business includes research, production, and sales of firefighting equipment, covering products such as firefighting robots and smart firefighting gear [1] - The company operates in the specialized equipment manufacturing industry and is registered in Xiamen, Fujian Province [1] Group 3 - On August 21, the company experienced a rapid decline in the morning session, with a drop of over 2% within 5 minutes at 9:38 AM, and a transaction amount of 114 million yuan at that time [1] - Net outflow of main funds was 59.73 million yuan, accounting for 1.61% of the circulating market value [1] - Over the past five trading days, the cumulative net inflow of main funds was 29.67 million yuan [1]

徐州海伦哲专用车辆股份有限公司 2025 年半年度报告全文 徐州海伦哲专用车辆股份有限公司 【2025 年 8 月 16 日】 徐州海伦哲专用车辆股份有限公司 2025 年半年度报告全文 公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容 的真实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担 个别和连带的法律责任。 公司负责人丁波、主管会计工作负责人谷峰及会计机构负责人(会计主管 人员)袁显芳声明：保证本半年度报告中财务报告的真实、准确、完整。 所有董事均已出席了审议本次半年报的董事会会议。 半年报中涉及未来计划等前瞻性陈述，不构成公司对投资者的实际承诺， 投资者及相关人士均应对此保持足够的风险认识，并且应当理解计划、预测 与承诺之间的差异。 公司在本报告第三节"管理层讨论与分析"之"十、公司面临的风险和应 对措施"部分详细描述了公司经营中可能存在的风险及应对措施，敬请投资 者关注。 公司计划不派发现金红利，不送红股，不以公积金转增股本。 徐州海伦哲专用车辆股份有限公司 2025 年半年度报告全文 徐州海伦哲专用车辆股份有限公司 2025 年半年度报告全文 一、载有公司法定代表人、主 ...

国安达最新股价报22.97元，较前一交易日上涨0.02元。盘中最高触及23.20元，最低下探22.62元，成交 量为37805手，成交金额达0.86亿元。 该公司属于专用设备制造业，主营业务涵盖消防安全装备的研发、生产和销售。其产品主要包括自动灭 火装置、消防机器人等，广泛应用于电力、交通、石化等领域。 风险提示：投资有风险，入市需谨慎。本文所载信息仅供参考，不构成任何投资建议。 来源:金融界 资金流向方面，8月8日国安达主力资金净流入146.41万元，占流通市值的0.05%。近五个交易日累计净 流出542.83万元，占流通市值的0.19%。 根据公开信息，国安达拟通过控股子公司国翔航空在漳州市平和县投资建设低空经济产业园项目，计划 总投资不超过2亿元人民币。该项目是公司拓展低空经济领域的重要布局。 ...

Industry Development - The robot industry in China is experiencing rapid growth, with continuous breakthroughs in technology and intelligence levels, expanding application scenarios, and accelerating industrial upgrades [1] - Special robots showcased include firefighting robots capable of spraying 80 liters of water per second, coal mine inspection robots for intelligent monitoring and fault warning, and underwater exploration robots simulating deep-sea conditions [2] Innovation and Collaboration - A shared manufacturing factory model allows small and micro enterprises to access high-end equipment like five-axis vertical machining centers and robotic welding stations, enabling them to realize their robotic development dreams [4] - This shared manufacturing model is seen as a significant opportunity for countries with fewer large tech companies, such as El Salvador, to enhance efficiency and reduce costs in technology innovation [4] Cultural Exchange - International students like Xiao Junlong are becoming important links in cross-cultural technology exchanges, with plans to promote technological cooperation between China and El Salvador after graduation [4]

Group 1 - The core point of the news is that the Penghua Carbon Neutral Fund's C-class shares experienced significant inflows and outflows in the second quarter, indicating a trend of short-term trading among investors [1][2][5] - In the second quarter, the total subscription for C-class shares exceeded 100 billion, reaching 100.5 billion, while redemptions amounted to 93.6 billion, highlighting a strong short-term trading behavior [2][4] - The fund's performance in the second quarter was negative, with a net value growth rate of -6.86%, underperforming the benchmark growth rate of 0.86% during the same period [4][5] Group 2 - The top ten holdings of the fund saw a significant change, with six stocks replaced, while still focusing on the robotics sector [6] - New stocks entering the top ten include Zhaomin Technology, Longsheng Technology, Beite Technology, Xiangxin Technology, Zhejiang Rongtai, and Siling Co., while stocks like Shuanglin Co., Zhongdali De, Huachen Equipment, and others exited [6] - The fund manager expressed concerns about various industries, particularly the challenges faced by the manufacturing sector due to global uncertainties and the need for supply-side reforms and technological upgrades to enhance competitiveness [8]

Company Overview - Helen Zhe was established in 2005 and became the first listed company in the aerial work vehicle industry in 2011 [1] - The company has a registered capital of 1.009 billion CNY [1] Main Business - Key products include aerial work vehicles, emergency power supply vehicles, emergency drainage vehicles, fire trucks, and military special vehicles [2] - The company leads in lightweight, high-altitude, intelligent, and insulated aerial work vehicles, achieving domestic substitution for insulated arms [2] - It has developed the world's largest 3000 kW vehicle-mounted power generation equipment, maintaining a leading position in the industry [2] Achievements and Awards - The company has received multiple awards, including 2 National Science and Technology Progress Awards and 1 China Patent Excellence Award [2] - The emergency drainage equipment has a capacity ranging from 500 to 6000 cubic meters per hour, providing comprehensive solutions for urban flood control [3] Strategic Planning (2023-2025) - The company aims to achieve a fourfold increase in operating performance by 2025, with net profit growth targets of 175%, 285%, and 439% for 2023, 2024, and 2025 respectively [5] Financial Performance - In 2024, the company achieved a revenue of 1.591 billion CNY, a year-on-year increase of 17.69%, and a net profit of 224 million CNY, up 8.64% [6] - In the first half of 2025, revenue is expected to grow by approximately 50%, with net profit between 78 to 88 million CNY, reflecting a year-on-year increase of 52.35% to 71.88% [6] Key Initiatives in 2025 - Focus on R&D to maintain technological leadership, including the development of high-altitude insulated vehicles and all-terrain insulated platforms [8][9] - Expansion of the rental market for aerial work vehicles, with sales in the first half of 2025 approaching the total for 2024 [10] - Improvement in supply chain efficiency, increasing production capacity from 8 to 10 units per day for rental vehicles [11] Strategic Partnerships - A strategic cooperation agreement was signed with China Aneng Group for emergency equipment development and market expansion [14] Cash Dividends - In June 2024, the company distributed a cash dividend of 0.3 CNY per 10 shares, totaling 29.85 million CNY [15] Market Expansion - The company is actively expanding into international markets, with new export orders of approximately 30 million CNY by June 30, 2025 [18] Industry Position - The fire truck market is estimated at 10 billion CNY annually, with growth expected due to increasing safety demands and natural disasters [23]