Investment Rating - The industry investment rating is "Accumulate (Maintain)" [2] Core Viewpoints - The report indicates that the high-quality development of the Beijing Stock Exchange (北交所) is expected to yield significant results in 2025, with a positive outlook for the overall performance of the exchange in the coming year [21] - The report highlights the performance of the North Exchange 50 Index, which experienced a decline of 3.11% to close at 1528.98 points as of September 28, 2025, while other indices such as the Shanghai and Shenzhen 300, ChiNext, and Sci-Tech 50 showed increases of 1.07%, 1.96%, and 6.47% respectively [3][6] - The report emphasizes the average market capitalization of the 277 constituent stocks in the North Exchange, which stands at 3.138 billion yuan, and notes a significant valuation premium compared to other A-share markets [8][11] Summary by Sections 1. North Exchange Market Overview - As of September 28, 2025, the North Exchange has 277 constituent stocks with an average market capitalization of 3.138 billion yuan [6] - The North Exchange A-shares had a median PE ratio of 47 times, significantly higher than the median PE ratios of 29 times for the entire A-share market, 39 times for ChiNext, and 41 times for Sci-Tech Board, indicating a valuation premium of 164%, 121%, and 116% respectively [8] 2. Industry Performance - The top five performing industries in the A-share market for the week were electrical equipment, non-ferrous metals, electronics, media, and public utilities, with respective increases of 3.86%, 3.52%, 3.51%, 0.63%, and 0.28% [11] 3. North Exchange Individual Stock Performance - Among the 277 stocks listed on the North Exchange, 19 stocks increased in value, while 256 stocks decreased, resulting in an increase ratio of 7% [13] 4. New Stocks on the North Exchange - As of September 28, 2025, 19 companies, including Dongsheng Jin Material and Baiying Biological, have reached the inquiry stage, while three companies, including Jingchuang Electric and Dapeng Industrial, are in the registration stage [17][18] 5. Investment Strategy for the North Exchange - The report suggests focusing on several sectors for investment in 2025, including: 1. Data Centers: KLT and Shuguang Shuchuang 2. Robotics: Suzhou Axis, Audiwei, Jun Chuang Technology, and Fuheng New Materials 3. Semiconductors: Hualing Co. and Kaide Quartz 4. Consumer Goods: Taihu Snow, Boshenglong, Lusi Co., Kangbiter, and Thunder God Technology 5. Military Information Technology: Chengdian Guangxin and Xingtuzhihui [21]

9月18日，南方精工（维权）盘中上涨2.06%，截至10:03，报33.77元/股，成交4.27亿元，换手率 5.14%，总市值117.52亿元。 资金流向方面，主力资金净流出1971.51万元，特大单买入1540.27万元，占比3.61%，卖出2549.37万 元，占比5.97%；大单买入6157.48万元，占比14.42%，卖出7119.89万元，占比16.67%。 今年以来南方精工已经28次登上龙虎榜，最近一次登上龙虎榜为8月28日，当日龙虎榜净买入-5900.40 万元；买入总计3.89亿元 ，占总成交额比11.96%；卖出总计4.48亿元 ，占总成交额比13.78%。 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开发区龙翔路9号，成立日期 1998年5月8日，上市日期2011年2月25日，公司主营业务涉及主要从事滚针轴承、超越离合器、单向滑 轮总成等的研发、制造和销售,产品主要用于汽车行业、摩托车行业、电动工具以及其他工业领域。主 营业务收入构成为：精密轴承58.34%，单向离合器20.96%，单向滑轮总成14.78%，集成电路设计及软 硬件4.54%，其他(补充)0.80%，其他 ...

Group 1 - The core viewpoint of the news highlights the recent performance and financial metrics of Jiangsu Southern Precision Engineering Co., Ltd. (南方精工), indicating a significant increase in stock price and trading activity [1][2] - As of September 16, the stock price of Southern Precision Engineering rose by 2.08% to 31.85 CNY per share, with a total market capitalization of 11.084 billion CNY [1] - The company has seen a year-to-date stock price increase of 149.61%, with a 3.38% rise over the last five trading days and a 50.45% increase over the last 60 days [1] Group 2 - Southern Precision Engineering's main business involves the research, manufacturing, and sales of needle bearings, overrunning clutches, and one-way pulley assemblies, primarily serving the automotive, motorcycle, and industrial sectors [2] - The revenue composition of the company includes precision bearings (58.34%), overrunning clutches (20.96%), one-way pulley assemblies (14.78%), integrated circuit design and software/hardware (4.54%), and other components [2] - As of June 30, the company reported a revenue of 414 million CNY for the first half of 2025, representing a year-on-year growth of 13.92%, and a net profit of 229 million CNY, reflecting a staggering growth of 32,852.69% [2] Group 3 - Southern Precision Engineering has distributed a total of 613 million CNY in dividends since its A-share listing, with 139 million CNY distributed over the past three years [3] - As of June 30, 2025, the number of shareholders decreased by 21.30% to 93,700, while the average circulating shares per person increased by 27.06% to 2,675 shares [2][3] - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited is the seventh largest, holding 1.3883 million shares as a new shareholder [3]

机器人产业蓬勃发展，北交所机器人概念板块也迎来扩容。 证券时报记者梳理发现，北交所的机器人概念公司总市值已接近千亿，凭借在细分领域的优势，展现出与沪深机器人上市公司不同的发展特色。 总市值接近千亿 北交所机器人概念公司普遍规模不大。统计显示，25家公司去年实现营收为136.79亿元，其中长虹能源、开特股份、富恒新材、苏轴股份、骏创科技、奥 迪威等营收在6亿元以上；25家公司实现归母净利润为12.62亿元，其中仅长虹能源、苏轴股份、开特股份、万通液压的归母净利润超过1亿元。 北交所机器人概念公司多为细分领域的专精特新"小巨人"，集中在核心零部件、传感器、控制器、系统集成及应用场景等领域，在细分领域具有一定的技 术壁垒。 比如鼎智科技，公司运动控制解决方案在市场上具有一定的竞争力，公司还布局滚珠丝杆、空心杯电机等产品；丰光精密自主研发了谐波减速器产品， 2025年目标产能为10万套；万达轴承是叉车轴承单项冠军，积极拓展海康、三一、库卡等工业机器人客户；苏轴股份滚针轴承产品可配套RV减速机，应 用于工业机器人关节；威贸电子与图灵机器人战略合作，推进连接器、PEEK材料在机器人中的验证；创远信科与凯盛机器人战略合作， ...

Company Overview - Jiangsu Southern Precision Engineering Co., Ltd. is located in Wujin High-tech Development Zone, Changzhou, Jiangsu Province, established on May 8, 1998, and listed on February 25, 2011 [2] - The company primarily engages in the research, manufacturing, and sales of needle bearings, overrunning clutches, and one-way pulley assemblies, with products mainly used in the automotive, motorcycle, electric tool, and other industrial sectors [2] - The revenue composition of the main business includes precision bearings (58.34%), overrunning clutches (20.96%), one-way pulley assemblies (14.78%), integrated circuit design and software/hardware (4.54%), and others [2] Financial Performance - For the first half of 2025, the company achieved operating revenue of 414 million yuan, representing a year-on-year growth of 13.92%, and a net profit attributable to shareholders of 229 million yuan, showing a significant increase of 32,852.69% [2] - Cumulative cash dividends since the A-share listing amount to 613 million yuan, with 139 million yuan distributed over the past three years [3] Stock Performance - As of September 12, the stock price of Southern Precision Engineering increased by 149.45% year-to-date, with a 3.78% rise over the last five trading days, 19.04% over the last 20 days, and 59.23% over the last 60 days [1] - The company has appeared on the trading leaderboard 28 times this year, with the most recent appearance on August 28, where the net buying on the leaderboard was -59 million yuan [1] Shareholder Information - As of June 30, 2025, the number of shareholders is 93,700, a decrease of 21.30% from the previous period, while the average circulating shares per person increased by 27.06% to 2,675 shares [2] - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited is the seventh largest, holding 1.3883 million shares as a new shareholder [3]

2025 年 9 月 11 日投资者关系活动记录表 编号：2025-012 证券代码：000551 证券简称：创元科技 创元科技股份有限公司 1 | | 继续加大科技创新，实现产品结构迭代升级，努力开拓新市场、 | | --- | --- | | | 新领域。谢谢！ | | | 2、苏州轴承产品应用场景？ | | | 答:尊敬的投资者，您好！感谢您对公司的关心。公司控 | | | 股子公司苏州轴承生产的滚针轴承产品广泛应用于汽车的转 | | | 向系统、主动安全系统、传动系统、扭矩管理系统、新能源电 | | | 驱系统、智能座椅系统、变速箱、发动机和空调压缩机等重要 | | | 总成，同时还可应用于工业自动化、高端装备、工业机器人、 | | | 工程机械、减速机、液压传动系统、电动工具、纺机、农林机 | | | 械、航空航天、国防工业等领域。谢谢！ | | | 3、苏州电瓷上半年业绩表现亮眼原因？ | | | 答：尊敬的投资者，您好！感谢您对公司的关心。上半年， | | | 公司控股子公司苏州电瓷主营业务收入及利润较去年同期均 | | | 有增长，主要系一方面是由于苏州电瓷国家电网项目订单充 | | | 足， ...

New Consumption - In August 2025, the GMV of the beauty category on Douyin exceeded 20 billion yuan, with a year-on-year growth of 19.56% and a month-on-month growth of 21.46% [2][7] - Domestic brands performed well, with Han Shu leading the market with a GMV exceeding 700 million yuan, and the Han Shu Hongman Waist Ring Six Peptide Set being the only product to exceed 100 million yuan in sales [7][8] - The trend in Douyin beauty consumption is shifting from "trial consumption" to "stable repurchase," indicating a more rational consumer behavior focusing on product practicality [8] Robotics Industry - The human-shaped robot market is expected to grow significantly, with the market size projected to reach approximately 27.6 billion yuan in 2024 and 750 billion yuan by 2029 [9][10] - Key components for human-shaped robots include actuators, sensors, and transmission systems, with the planetary roller screw expected to account for 19% of the total cost by 2030 [9][10] - Domestic companies are gradually breaking into the high-end bearing market, which is currently dominated by eight global enterprises, with a current localization rate of less than 20% [10][11] Food and Beverage Industry - National beer companies showed stable revenue and profit performance in the first half of 2025, with cost reductions contributing to gross profit growth [15][16] - The dairy sector is expected to see a reversal in fundamentals as raw milk prices stabilize and beef prices rise, which could enhance profitability for dairy companies [16] - The snack food sector is experiencing a divergence in performance, with emerging channels like bulk snacks and membership supermarkets maintaining high momentum, while traditional channels face challenges [17] Logistics Industry - Zhonggu Logistics reported a revenue of 5.338 billion yuan in the first half of 2025, a decrease of 6.99% year-on-year, but net profit increased by 41.59% to 1.072 billion yuan [19][20] - The company is optimizing its capacity deployment in response to domestic demand recovery and external trade needs, which supports profit growth [20][21] - The company plans to distribute 9.03 billion yuan in dividends, reflecting its strong profit attributes [21] Public Utilities and Environmental Protection - Datang New Energy achieved a revenue of 6.845 billion yuan in the first half of 2025, with a year-on-year growth of 3.26%, while net profit decreased by 4.37% [22][23] - The company’s capital expenditure significantly decreased, indicating a focus on optimizing financial structure [26][27] - The wind power sector is expected to outperform solar power in terms of output and operational cycles, with a favorable market environment anticipated for wind power operators [27]

证券代码：000551 证券简称：创元科技 创元科技股份有限公司 答:尊敬的投资者，您好！感谢您对公司的关心。公司控 股子公司江苏苏净围绕电子信息、大健康和新能源三大行业逐 步加大市场拓展力度，进一步推动了苏净产品、工程服务聚焦 高端行业和高端客户，工程服务聚焦高端行业和高端客户。江 苏苏净通过新建市场营销管理制度并制定"融营销"管理提升 项目方案，逐步形成信息共享、渠道共建、项目共商、市场共 赢的融合营销模式。重点拓展电子信息、医药卫生、太阳能光 伏、锂电新能源、新基建等重点行业领域。谢谢！ 3、苏州电瓷 2025 年上半年继续保持增长，下半年是否会 继续保持？ 2025 年 9 月 5 日投资者关系活动记录表 编号：2025-011 | 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 （请文字说明其他活动内容） | | 参与单位名称及 | 机构投资者：东方财富证券、东海证券、中天证券、中信证券、 | | 人员姓名 | 中金财富证券、国弘天下资本集团、路 ...

创元科技分析师会议 调研日期：2025年09月04日 调研行业：环保行业 参与调研的机构：线上参与创元科技2025年半年度业绩网上说明 会的投资者等 / 关注公众号即可体验 机构调研pro小程序~ 扫码关注 调研纪要精选公众号 机构调研pro小程序 DJvanbao.com 洞见研报 出品 : 机构调研pro小程序致力于为金融证券投资者提供最新最全的调研会议纪要。 来机构调研pro小程序，了解最新的：行业投资风向、热门公司关注、权威机构分析... 权威完善的信息持续更新! 更多精彩的机构调报告请移步机构调研pro小程序~ 一解投资机构行业关注度。 频判市场 | Gallia | | | --- | --- | | 11 2 12 200 2 110 | | | 1:给我们 = 影片面临官 = | | | 阿里巴巴佩尼 | | | 钢铁机之题。 8 | 图纸制图: 23 | | 20GB Millio Aller 19 | | | 海双集团 | | | 1 1 80.0 0 | 总机构建 23 | | LOGA: REGH, KETA: 1986 | | | 小麦具日 | | | 的研究次数:8 | 上机构馆: ...

证券代码：000551 证券简称：创元科技 创元科技股份有限公司 2025 年 9 月 4 日投资者关系活动记录表 编号：2025-010 投资者关系活动 类别 □特定对象调研 □分析师会议 □媒体采访 √业绩说明会 □新闻发布会 □路演活动 □现场参观 □其他 （请文字说明其他活动内容） 参与单位名称及 人员姓名 线上参与创元科技 2025 年半年度业绩网上说明会的投资者 时间 2025 年 9 月 4 日 星期四 下午 3:00 至 5:00 地点 价值在线（https://www.ir-online.cn/）网络互动 上市公司接待人 员姓名 董事长、总经理 周成明先生； 独立董事 葛卫东先生； 董事会秘书、副总经理 周微微女士； 财务总监 刘文华先生。 投资者关系活动 主要内容介绍 公司董事长、总经理周成明先生；独立董事葛卫东先生； 董事会秘书、副总经理周微微女士；财务总监刘文华先生参加 了此次业绩说明会，就公司的基本情况及业务发展情况等问题 与投资者进行了交流。主要问题如下： 一、介绍创元科技 2025 年半年度经营情况 2025 年上半年，国际与国内形势持续受到多重因素的影 响，呈现出复杂性和不确定 ...