截至3月31日，南方精工股东户数11.91万，人均流通股2105股。 8月27日，南方精工盘中上涨5.05%，截至09:34，报34.92元/股，成交3.41亿元，换手率3.99%，总市值 121.52亿元。 资料显示，江苏南方精工股份有限公司位于江苏省常州市武进高新技术产业开发区龙翔路9号，公司主 要从事传动领域轴承及其相关零部件的制造和研发，产品包括滚针轴承、单向离合器、单向滑轮总成和 精密机加工零件，已为多家世界500强企业以及全球诸多著名公司配套。公司已通过IATF16949质量管 理体系,ISO14001环境管理体系和ISO45001职业健康安全管理体系的认证，并在全球设有业务，并在德 国设有子公司，在印度设有办事处。 2025年1月-3月，南方精工实现营业收入1.79亿元，同比增长9.18%；归属净利润9150.76万元，同比增长 727.82%。 ...

电网建设放量，瓷绝缘子产品拉动收入增长 分产品来看，2025H1，公司输变高压绝缘子业务实现收入 5.13 亿元， 同比增加 42.65%，占营业收入 24.65%，主要受益于我国在特高压电 力工程领域的投资和建设加速，公司子公司苏州电瓷按计划完成了多 条国网特高压关键线路产品的交付与验收。 2025 年 08 月 25 日 创元科技(000551.SZ) 深耕两大主业，业绩稳步增长 事件： 公司发布 2025 年半年度报告。2025H1，公司实现营业收入 20.79 亿 元，同比下降 7.99%，实现归属于上市公司股东的净利润 1.61 亿元， 较去年同期增长 11.15%。公司经营活动产生的现金流量净额为 1.76 亿元，较去年同期增长 131.62%，每股收益为 0.40 元/股，较去年同 期增长 10.83%，资产负债率为 37.74%。 把握洁净环保&瓷绝缘子基本盘，产品下游应用广泛，国产替代 空间广阔 公司核心业务包括洁净环保工程及设备、输变电高压瓷绝缘子、滚针 轴承等，经过多年发展，形成了以"洁净环保"和"瓷绝缘子"为双 主业，精密轴承、磨具磨料、精密仪器等多种经营产业并存的格局。 洁净环保领域 ...

Group 1 - The stock price of Chuangyuan Technology on August 19 was 12.13 yuan, down 0.20 yuan or 1.62% from the previous trading day [1] - The opening price was 12.30 yuan, with a highest point of 12.31 yuan and a lowest point of 11.86 yuan, with a trading volume of 208,558 hands and a transaction amount of 251 million yuan [1] - In the first half of 2025, the company achieved operating revenue of 2.079 billion yuan and a net profit attributable to shareholders of 161 million yuan, representing a year-on-year growth of 11.15% [1] Group 2 - On August 19, the net outflow of main funds for Chuangyuan Technology was 32.7834 million yuan, with a cumulative net outflow of 58.0499 million yuan over the past five days [2]

【中泰研究丨晨会聚焦】先进产业冯胜：电子涨幅居前，新股上 市与受理过会呈繁荣迹象——北交所半月报 证券研究报告/晨会聚焦 2025 年 08 月 07 日 分析师：戴志锋 执业证书编号：S0740517030004 Email：daizf@zts.com.cn 欢迎关注中泰研究所订阅号 晨报内容回顾 1、《【中泰研究丨晨会聚焦】固收 林莎：股债比价视角看 A 股行情的起 点与终点——负债驱动资金之二》 2025-08-05 2、《【中泰研究丨晨会聚焦】银行 戴志锋：测算｜债券增值税新规对上 市银行影响：营收静态影响 0.4%》 2025-08-04 3、《【中泰研究丨晨会聚焦】策略 徐驰：2025 年上半年 ETF 资金行为 复 盘 ： 政 策 驱 动 与 结 构 重 塑 》 2025-08-03 今日预览 今日重点>> 【中小盘和先进产业】冯胜：电子涨幅居前，新股上市与受理过会呈繁 荣迹象-——北交所半月报（7.21-8.1） 请务必阅读正文之后的重要声明部分 今日重点 【中小盘和先进产业】冯胜：电子涨幅居前，新股上市与受理过会呈繁荣迹象-——北交所半月报 （7.21-8.1） 北交所行情概览： 整体行情： ...

Core Viewpoint - Chuangyuan Technology (000551.SZ) is focusing on expanding its product development and customer base in the fields of new energy vehicles, defense, aerospace, robotics, industrial automation, and high-end equipment [1] Product Segmentation - The company's subsidiary, Suzhou Bearing, produces various types of needle bearings, including radial needle bearings, thrust needle bearings, cylindrical roller bearings, roller needle bearings, and unidirectional bearings [1] - These products are widely used in critical automotive systems such as steering systems, active safety systems, transmission systems, torque management systems, new energy electric drive systems, intelligent seating systems, gearboxes, engines, and air conditioning compressors [1] Industry Applications - The applications of the products extend beyond automotive to include industrial automation, high-end equipment, robotics, construction machinery, reducers, hydraulic transmission systems, electric tools, textile machinery, agricultural machinery, aerospace, and defense industries [1] Future Development Plans - The company plans to increase its efforts in customer development and product research and development in the new energy vehicle sector and other high-tech fields [1]

Investment Rating - The report maintains an "Accumulate" rating for the industry [1] Core Insights - The North Exchange has shown fluctuating performance, with a total of 268 listed companies and an industry market capitalization of 858.43 billion [1][4] - The North Exchange 50 Index experienced a decline of 0.7% during the week of July 14-18, 2025, closing at 1418.61 points, while the Shanghai and Shenzhen 300 indices increased by 1.02% and 0.42%, respectively [4][13] - The average market capitalization of the North Exchange component stocks is 3.202 billion [4][13] - The average daily trading volume for the North Exchange component stocks reached 21.885 billion, reflecting a 1.55% increase from the previous week [4][16] Summary by Sections North Exchange Market Overview - As of July 18, 2025, the North Exchange comprises 268 component stocks, with an average market capitalization of 3.202 billion [4][13] - The North Exchange 50 Index saw a weekly decline of 0.7%, while the Shanghai and Shenzhen 300 indices posted gains of 1.02% and 0.42% respectively [4][13] - The daily average trading volume for the North Exchange component stocks was 21.885 billion, with a turnover rate of 25.26% [4][16] Industry Performance - The top five performing sectors in the A-share market during the week were pharmaceuticals and biotechnology, communications, national defense and military industry, computers, and banking, with respective gains of 21.25%, 20.08%, 19.06%, 17.35%, and 16.64% [4][21] Individual Stock Performance - Among the 268 stocks listed on the North Exchange, 100 stocks rose, 166 fell, and 2 remained flat, resulting in a rise ratio of 37.45% [4][24] New Stocks - No new stock issuances occurred during the week, but one company updated its review status to registration, while 30 companies moved to the inquiry stage [4][29] Key News - The North Exchange has strengthened its disclosure requirements and released the second-quarter ratings for securities firms, with 103 firms evaluated [4][32] Investment Strategy - The report expresses optimism for the North Exchange's performance in 2025, suggesting a focus on sectors such as data centers, robotics, semiconductors, consumer goods, and military information technology [4][33]

Investment Rating - The report maintains an "Accumulate" rating for the industry, indicating a positive outlook for the next 6 to 12 months [1]. Core Insights - The North Exchange has shown a strong performance with the North 50 Index increasing by 6.84% to close at 1439.63 points as of June 28, 2025, outperforming other major indices such as the Shanghai Composite and ChiNext [4][12]. - The total market capitalization of the industry reached 846.65 billion yuan, with an average market value of 3.14 billion yuan per listed company [4][12]. - A significant 94% of the 268 listed companies on the North Exchange experienced price increases during the week, with 252 stocks rising and only 16 declining [20]. Summary by Sections North Exchange Market Overview - As of June 28, 2025, the North Exchange comprises 268 constituent stocks, with an average market capitalization of 3.14 billion yuan. The North 50 Index has risen by 6.84%, while the Shanghai Composite, ChiNext, and Sci-Tech 50 indices have seen increases of 1.95%, 5.69%, and 3.17%, respectively [4][12]. - The top five performing sectors in the A-share market this week were Computer, Defense Industry, Non-Bank Financials, Communication, and Electronic Equipment/Nonferrous Metals, with gains of 7.70%, 6.90%, 6.66%, 5.53%, and 5.11%, respectively [18]. New Listings on the North Exchange - Guangxin Technology officially listed on the North Exchange on June 26, 2025, becoming the 268th listed company, and saw a remarkable first-day increase of 500% [6][26]. Key News from the North Exchange - The North 50 Index has accumulated a 38.72% increase year-to-date, leading all major A-share indices, surpassing the Hang Seng Index's 21.06% increase [33]. - A total of 26 stocks have doubled in value this year, primarily driven by technology innovation companies [33]. Investment Strategy for the North Exchange - The report suggests focusing on high-quality development in the North Exchange for 2025, with specific attention to sectors such as Data Centers, Robotics, Semiconductors, Consumer Goods, and Military Information Technology [31].

Company Overview - Jiangsu Nanfang Precision Co., Ltd. was established on May 8, 1998, with a registered capital of 348 million yuan and is listed on the Shenzhen Stock Exchange under the stock code 002553 [9][10]. - The company primarily engages in the manufacturing and sales of precision bearings, automotive components, and industrial robots, with precision bearings accounting for over 50% of its revenue [14][20]. Fundraising and Investment Plans - The company plans to raise funds through a private placement of A-shares, with 50.15% of the raised capital (approximately 101.19 million yuan) allocated to the production of ball screw assemblies, which will increase annual production capacity by 3 million sets, representing a 4518.07% expansion [2][3]. - The expected average gross profit margin for the new investment project is 28.46%, with projected annual sales revenue of approximately 225.48 million yuan upon reaching full production [5]. Risks Associated with Business Operations - There are significant risks related to the absorption of new production capacity for ball screw assemblies, particularly if market growth does not meet expectations or competition intensifies [2][3]. - The company has recognized a potential impairment loss of 70.34 million yuan on its investment in Huzhou Hongtian, which indirectly holds shares in Hezhong New Energy, due to reported operational difficulties [2][3]. - The company faces risks in expanding its electric scroll compressor business, especially if its main customer, Hezhong New Energy, continues to experience operational challenges [3][4]. Industry Context - The global bearing market is projected to grow from 120.98 billion USD in 2023 to 226.60 billion USD by 2030, with a compound annual growth rate (CAGR) of 9.4% [19]. - China's bearing industry achieved a revenue of 218 billion yuan in 2023, with a production volume exceeding 20.2 billion sets, positioning it as the third-largest in the world [20]. - The industry is characterized by cyclical trends, closely tied to macroeconomic conditions, and is organized into several regional clusters, each specializing in different types of bearings [20].

Group 1 - Saint-Gobain Ceramics (Zhengzhou) Co., Ltd. applied for RCEP certificates for single crystal alumina exported to Japan, benefiting from tax reductions [1] - In the first five months of this year, the import and export value of goods under RCEP in Henan Province reached 1.17 billion yuan, a year-on-year increase of 5.4% [1] - The gradual reduction of tariff rates has led to an expanding list of zero-tariff products, enhancing the awareness and utilization of RCEP among foreign trade enterprises in the province [1] Group 2 - The use of RCEP and other tariff reduction policies is helping "Made in Henan" enhance its international market influence [2] - In the first five months of this year, Luoyang Customs issued origin certificates worth 36.493 million yuan for bearing companies, saving approximately 2.919 million yuan in import tariffs for these enterprises [2] - RCEP's tariff reductions are a significant achievement in the field of goods trade, injecting continuous momentum into regional trade development [2]

Investment Rating - The industry investment rating is "Overweight (Maintain)" [2] Core Viewpoints - The report highlights the first revision of the "North Certificate Index Calculation and Maintenance Rules" by the Beijing Stock Exchange, aimed at enhancing market service levels [4][14] - The North Certificate 50 index will undergo sample stock adjustments effective June 16, 2025, with new entrants and removals from the index [7][14] - The report expresses optimism for the high-quality development of the Beijing Stock Exchange in 2025, suggesting a focus on specific sectors such as data centers, robotics, semiconductors, consumer goods, and military information technology [7][15] Summary by Sections 1. Revision of Index Rules - The revision of the index rules includes changes to the regular review data cutoff date and considerations for temporary adjustments during the announcement period [5][14] - Stocks that are long-term suspended but have a clear resumption expectation after the effective date will not be eligible for new sample inclusion [5][14] 2. Sample Stock Adjustments - New entrants to the North Certificate 50 index include Tonghui Electronics, Yinuowei, Weida Optoelectronics, Wanda Bearings, and Tongguan Mining [7][14] - Stocks removed from the index include Xingchen Technology, Kangle Guardian, Kaide Quartz, Tongxiang Technology, and Guangsha Environmental Energy [7][14] 3. Investment Strategy - The report recommends focusing on sectors such as: - Data Centers: Kelaite and Shuguang Data Creation - Robotics: Suzhou Axis, Audiwei, Jun Chuang Technology, and Fuheng New Materials - Semiconductors: Hualing Co. and Kaide Quartz - Consumer Goods: Taihu Snow, Boshenglong, Lusi Co., and Kangbiter - Military Information Technology: Chengdian Guangxin and Xingtuzhihui [7][15]