来源：新浪证券-红岸工作室 9月29日，普莱得涨1.34%，成交额6319.74万元，换手率7.09%，总市值27.47亿元。 异动分析 跨境电商+人民币贬值受益+减速器+专精特新+锂电池概念 1、2023年7月11日互动易显示：公司在亚马逊、Ebay和淘宝、天猫等电商平台上开设了自有品牌旗舰 店，建立了恒动、纽迈特 (NEUMASTER)、邦他等全系列差异化定位的品牌组合，境外市场目前已覆 盖北美和欧洲等地区 2、根据2024年年报，公司海外营收占比为67.86%，受益于人民币贬值。 3、2023年6月27日公司互动：减速器为公司高压无气喷枪、清洗刷、打胶枪、气缸钉枪等产品的零部 件，均为公司自主研发和生产。 4、专精特新"小巨人"企业是全国中小企业评定工作中最高等级、最具权威的荣誉称号，是指专注于细 分市场、创新能力强、市场占有率高、掌握关键核心技术、质量效益优的排头兵企业，对于提升中小企 业自身的竞争力，以及提升产业链、供应链稳定性和竞争力具有重大意义。公司已入选工信部国家级专 精特新小巨人企业名单。 主力持仓 主力没有控盘，筹码分布非常分散，主力成交额3104.24万，占总成交额的5.15%。 技术面 ...

Core Viewpoint - The stock of Zhejiang Plade Electric Co., Ltd. has shown a significant increase of 35.07% year-to-date, despite a slight decline of 0.95% in the last five trading days, indicating volatility in its performance [2]. Company Overview - Zhejiang Plade Electric Co., Ltd. was established on November 1, 2005, and went public on May 30, 2023. The company specializes in the research, design, production, and sales of electric tools [2]. - The main revenue composition of the company includes 94.85% from electric tool assemblies, 3.66% from electric tool accessories, and 1.49% from other sources [2]. - The company is categorized under the Shenwan industry classification as machinery equipment - general equipment - other general equipment, and is part of several concept sectors including specialized and innovative, fund heavy positions, margin financing, high dividends, and small-cap stocks [2]. Financial Performance - For the period from January to June 2025, the company achieved a revenue of 461 million yuan, representing a year-on-year growth of 11.98%. The net profit attributable to the parent company was 45.65 million yuan, reflecting a growth of 14.23% [2]. - As of June 30, 2025, the company has distributed a total of 59.27 million yuan in dividends since its A-share listing [3]. Shareholder Information - As of June 30, 2025, the number of shareholders increased by 9.69% to 8,815, with an average of 3,616 circulating shares per person, up by 16.26% [2]. - Notable institutional holdings include Noan Multi-Strategy Mixed A (320016) as the fifth largest shareholder with 412,100 shares, an increase of 275,700 shares from the previous period. Huaxia CSI 500 Index Enhanced A (007994) is the sixth largest shareholder with 320,400 shares, a new entry. Huaxia Zhisheng Pioneer Stock (LOF) A (501219) ranks ninth with 209,400 shares, also a new entry [3].

Company Overview - Zhejiang Plade Electric Co., Ltd. is located in Jinhua City, Zhejiang Province, and was established on November 1, 2005. The company went public on May 30, 2023. Its main business involves the research, design, production, and sales of power tools [1] - The revenue composition of the company is as follows: 94.85% from power tool assemblies, 3.66% from power tool accessories, and 1.49% from other supplementary products [1] Stock Performance - On September 25, Plade's stock rose by 5.38%, reaching a price of 29.58 CNY per share, with a trading volume of 97.53 million CNY and a turnover rate of 10.74%. The total market capitalization is 2.904 billion CNY [1] Fund Holdings - Huian Fund has a significant position in Plade, with its Huian Multi-Strategy Mixed A Fund (005109) increasing its holdings by 22,600 shares in the second quarter, bringing the total to 81,700 shares. This represents 1.44% of the fund's net asset value, making it the second-largest holding [2] - The Huian Multi-Strategy Mixed A Fund has a total scale of 87.655 million CNY and has achieved a year-to-date return of 39.97%, ranking 2003 out of 8173 in its category. Over the past year, the fund has returned 63.35%, ranking 1943 out of 8003 [2] Fund Manager Information - The fund manager of Huian Multi-Strategy Mixed A is Liu Yucai, who has been in the position for 4 years and 271 days. The total asset size under his management is 1.222 billion CNY, with the best return during his tenure being 38.52% and the worst being -17.08% [3]

Core Viewpoint - The stock of Zhejiang Plade Electric Co., Ltd. has shown significant growth in 2023, with a year-to-date increase of 37.27% and a recent upward trend in trading performance [2]. Group 1: Stock Performance - On September 25, Plade's stock rose by 2.03%, reaching a price of 28.64 CNY per share, with a trading volume of 68.78 million CNY and a turnover rate of 7.62% [1]. - The stock has increased by 4.07% over the last five trading days, 12.18% over the last 20 days, and 13.79% over the last 60 days [2]. Group 2: Company Overview - Zhejiang Plade Electric Co., Ltd. was established on November 1, 2005, and went public on May 30, 2023. The company specializes in the research, design, production, and sales of electric tools [2]. - The main revenue sources for the company are electric tool assemblies (94.85%), electric tool accessories (3.66%), and other supplementary products (1.49%) [2]. - Plade belongs to the machinery equipment sector, specifically in general equipment and other general equipment categories [2]. Group 3: Financial Performance - For the period from January to June 2025, Plade achieved a revenue of 461 million CNY, representing a year-on-year growth of 11.98%. The net profit attributable to shareholders was 45.65 million CNY, with a year-on-year increase of 14.23% [2]. - Since its A-share listing, Plade has distributed a total of 59.27 million CNY in dividends [3]. Group 4: Shareholder Information - As of June 30, 2025, the number of shareholders for Plade was 8,815, an increase of 9.69% from the previous period, with an average of 3,616 circulating shares per person, up by 16.26% [2]. - Notable institutional shareholders include Noan Multi-Strategy Mixed A, which holds 412,100 shares, and Huaxia CSI 500 Index Enhanced A, which is a new shareholder with 320,400 shares [3].

Core Viewpoint - Zhejiang Plade Electric Co., Ltd. has shown significant growth in both revenue and net profit, indicating a positive trend in its financial performance since its recent IPO on May 30, 2023 [2][3]. Group 1: Financial Performance - For the first half of 2025, Plade achieved operating revenue of 461 million yuan, representing a year-on-year increase of 11.98% [2]. - The net profit attributable to the parent company for the same period was 45.65 million yuan, reflecting a year-on-year growth of 14.23% [2]. - Cumulative cash dividends since the A-share listing amount to 59.27 million yuan [3]. Group 2: Shareholder and Market Activity - As of June 30, 2025, the number of shareholders increased to 8,815, up by 9.69% from the previous period [2]. - The average number of circulating shares per shareholder rose to 3,616, marking a 16.26% increase [2]. - On September 23, 2023, Plade's stock price rose by 2.64%, with a trading volume of 203 million yuan [1]. Group 3: Financing and Margin Trading - On September 23, 2023, Plade recorded a financing purchase amount of 22.93 million yuan, with a net financing purchase of 7.86 million yuan [1]. - The total margin trading balance as of September 23, 2023, was 44.76 million yuan, accounting for 4.81% of the circulating market value, which is above the 90th percentile of the past year [1]. - There were no short-selling activities reported on the same day, with a short-selling balance of 0 [1]. Group 4: Company Overview - Plade, established on November 1, 2005, is located in Jinhua City, Zhejiang Province, and specializes in the research, design, production, and sales of electric tools [1]. - The company's main business revenue composition includes 94.85% from electric tool assemblies, 3.66% from electric tool accessories, and 1.49% from other sources [1].

Group 1 - The core viewpoint of the news is that Zhejiang Plad Electric Co., Ltd. has seen a significant increase in its stock price, with a rise of 5.45% to 29.02 CNY per share, and a total market capitalization of 2.849 billion CNY [1] - The company was established on November 1, 2005, and went public on May 30, 2023, focusing on the research, design, production, and sales of power tools [1] - The revenue composition of the company is primarily from power tool assemblies at 94.85%, followed by power tool accessories at 3.66%, and other supplementary products at 1.49% [1] Group 2 - From the perspective of fund holdings, the ICBC Credit Suisse Fund has a significant position in Plad, with the ICBC Joy Mixed A Fund (011729) holding 13,400 shares, representing 0.12% of the fund's net value, making it the eighth largest holding [2] - The ICBC Joy Mixed A Fund was established on August 24, 2021, with a latest scale of 90.9406 million CNY, and has achieved a year-to-date return of 26.04% [2] - The fund's one-year return stands at 46.7%, ranking 3,513 out of 7,980 in its category, while the return since inception is 23.87% [2] Group 3 - The fund manager of ICBC Joy Mixed A Fund is Jiao Wenlong, who has a tenure of 10 years and 128 days, managing a total asset scale of 9.24 billion CNY, with the best fund return during his tenure being 82.02% [3] - Another fund manager, He Shun, has a tenure of 1 year and 336 days, managing assets totaling 6.865 billion CNY, with a best return of 57.88% during his tenure [3]

Group 1 - The core viewpoint of the news is that Pulaide's stock price has increased by 5.3% on September 17, reaching 28.40 yuan per share, with a total market capitalization of 2.788 billion yuan [1] - Pulaide has experienced a continuous increase in stock price for four consecutive days, with a cumulative increase of 5.35% during this period [1] - The company, Zhejiang Pulaide Electric Co., Ltd., was established on November 1, 2005, and went public on May 30, 2023, focusing on the research, design, production, and sales of electric tools [1] Group 2 - According to data from Pulaide's top ten circulating shareholders, the Noan Multi-Strategy Mixed A Fund increased its holdings by 275,700 shares in the second quarter, now holding a total of 412,100 shares, accounting for 1.29% of circulating shares [2] - The Noan Multi-Strategy Mixed A Fund has achieved a return of 63.01% this year, ranking 432 out of 8,172 in its category, and a return of 126.17% over the past year, ranking 213 out of 7,980 [2] - The fund managers, Kong Xianzheng and Wang Haichang, have had varying performance records, with Kong achieving a best return of 77.74% and Wang achieving a best return of 65.23% during their respective tenures [2]

Performance - In the first half of 2025, the company achieved revenue of 914 million yuan, a year-on-year decrease of 15.37%, while net profit attributable to shareholders was 158 million yuan, an increase of 9.31%. The net profit excluding non-recurring items was 138 million yuan, up by 8.48%. The gross margin was 25.09%, an increase of 1.06 percentage points year-on-year [1] - In Q2 2025, the company reported revenue of 474 million yuan, a year-on-year decrease of 19.85%, with net profit attributable to shareholders at 99 million yuan, an increase of 14.98%. The net profit excluding non-recurring items was 88 million yuan, up by 13.63%. The gross margin was 25.65%, an increase of 1.12 percentage points year-on-year [1] Segment Performance - In H1 2025, the revenue by segment showed that the electric tool accessories business generated 557 million yuan, a year-on-year decrease of 6.47%; the high-end intelligent equipment manufacturing business generated 70 million yuan, down by 17.26%; and the new energy sector generated 261 million yuan, a decrease of 28.86% [2] - Revenue by region in H1 2025 indicated that domestic business revenue was 547 million yuan, accounting for 59.78% of total revenue, while overseas business revenue was 368 million yuan, accounting for 40.22%, showing an increase in overseas business proportion [2] - The revenue from the Vietnam subsidiary grew by 139.07% year-on-year, with net profit increasing by 261.07%, indicating initial success in global expansion and contributing additional growth for the company [2] Investment Outlook - The company is projected to achieve revenues of 2.559 billion yuan, 2.900 billion yuan, and 3.216 billion yuan for the years 2025, 2026, and 2027 respectively. The net profits attributable to shareholders are expected to be 322 million yuan, 366 million yuan, and 400 million yuan for the same years, corresponding to price-to-earnings ratios of 18.7, 16.5, and 15.1 times [3]

Core Insights - The company reported a revenue of 914 million yuan for the first half of 2025, a decrease of 15.37% year-on-year, while net profit attributable to shareholders increased by 9.31% to 158 million yuan [1] - The company achieved a significant increase in net cash flow from operating activities, reaching 192 million yuan, up 86.38% year-on-year [1] Business Segments Summary Electric Tool Accessories - The electric tool accessories segment generated a revenue of 557 million yuan, with the company focusing on deepening partnerships with global brands such as TTI, Stanley, Bosch, and Makita [1] - The company is expanding its product lines to cover precision fixtures, electric tool switches, precision castings, powder metallurgy parts, and saw blades, while also venturing into home appliance parts, automotive components, and machine tool functional parts [1] - A strategic layout centered on Weihai, China, with bases in Vietnam and Mexico, is being implemented to enhance supply chain integration and reduce production costs [1] New Energy Business - The new energy segment achieved a revenue of 261 million yuan, with a focus on expanding product applications across various fields including electric tools, electric transportation, smart home appliances, and portable energy storage [2] - The company launched a portable mobile energy storage series with power specifications of 1000W and 2000W, supporting both grid and solar charging, catering to diverse outdoor and mobile power needs [2] - In the electric vehicle sector, the subsidiary Kunshan Swop Intelligent Equipment Co., Ltd. is adapting to market trends and enhancing its capabilities in research, production, and sales of battery swapping stations [2] High-end Intelligent Equipment - The high-end intelligent equipment segment reported a revenue of 70 million yuan, with a focus on smart, personalized, and high-end development in the automotive, construction machinery, and energy sectors [3] - The subsidiary Jinan Yiji has been upgrading its main models and has secured new orders worth 145 million yuan, a year-on-year increase of 19.86% [3] - The company provides comprehensive smart manufacturing solutions, covering automation in various industries, including system consulting, design, manufacturing, integration, and training [3]

Core Viewpoint - The company, Zhejiang Plade Electric Co., Ltd., has shown growth in revenue and profit, benefiting from its overseas sales and the depreciation of the RMB, while also being recognized as a "specialized and innovative" small giant enterprise in China [2][3][7]. Company Overview - Zhejiang Plade Electric Co., Ltd. was established on November 1, 2005, and went public on May 30, 2023. The company specializes in the research, design, production, and sales of electric tools, with main business revenue composition being 92.05% from electric tool assemblies, 7.25% from accessories, and 0.70% from other sources [7]. - As of March 31, 2025, the company reported a revenue of 227 million yuan, representing a year-on-year growth of 23.88%, and a net profit attributable to shareholders of 17.76 million yuan, up 4.75% year-on-year [7]. Market Position and Recognition - The company has been recognized as a "specialized and innovative" small giant enterprise, which is a prestigious title in China for small and medium enterprises that excel in niche markets and possess strong innovation capabilities [2]. - The company has established its own brand flagship stores on various e-commerce platforms, including Amazon, eBay, Taobao, and Tmall, with a brand portfolio that includes "Hengdong" and "Neumaster" [3]. Financial Performance - The company's overseas revenue accounted for 67.86% of total revenue, benefiting from the depreciation of the RMB [3]. - The company has distributed a total of 59.27 million yuan in dividends since its A-share listing [8]. Stock Performance - On August 5, the company's stock price increased by 0.94%, with a trading volume of 48.38 million yuan and a turnover rate of 5.68%, resulting in a total market capitalization of 2.639 billion yuan [1]. - The average trading cost of the stock is 26.28 yuan, with the stock currently near a resistance level of 27.48 yuan, indicating potential for upward movement if this level is breached [6].