9月30日，震裕科技涨5.38%，截至发稿，报189.64元/股，成交9.66亿元，换手率4.24%，总市值328.98 亿元。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 资料显示，宁波震裕科技股份有限公司位于浙江省宁波市宁海县滨海新城东港南路6号，成立日期1994 年10月18日，上市日期2021年3月18日，公司主营业务涉及精密级进冲压模具及下游精密结构件的研 发、设计、生产和销售的高新技术企业。主营业务收入构成为：精密结构件79.07%，其他15.23%，模 具及配件5.70%。 责任编辑：小浪快报 申万菱信专精特新主题混合型发起式A（015919）成立日期2022年7月12日，最新规模1436.99万。今年 以来收益6.11%，同类排名1/2；近一年收益43.05%，同类排名1/2；成立以来亏损15.6%。 申万菱信专精特新主题混合型发起式A（015919）基金经理为。 从基金十大重仓股角度 数据显示，申万菱信基金旗下1只基金重仓震裕科技。申万菱信专精特新主 ...

中银新趋势混合A（001370）成立日期2015年5月29日，最新规模9740.46万。今年以来收益43.34%，同 类排名1476/8173；近一年收益90.05%，同类排名892/7996；成立以来收益94.8%。 中银新趋势混合A（001370）基金经理为杨成。 截至发稿，杨成累计任职时间14年50天，现任基金资产总规模5.1亿元，任职期间最佳基金回报 92.19%， 任职期间最差基金回报-11.02%。 9月24日，震裕科技涨5.1%，截至发稿，报170.62元/股，成交8.48亿元，换手率4.07%，总市值295.99亿 元。 资料显示，宁波震裕科技股份有限公司位于浙江省宁波市宁海县滨海新城东港南路6号，成立日期1994 年10月18日，上市日期2021年3月18日，公司主营业务涉及精密级进冲压模具及下游精密结构件的研 发、设计、生产和销售的高新技术企业。主营业务收入构成为：精密结构件79.07%，其他15.23%，模 具及配件5.70%。 从基金十大重仓股角度 数据显示，中银基金旗下1只基金重仓震裕科技。中银新趋势混合A（001370）二季度持有股数2.85万 股，占基金净值比例为2.97%，位居 ...

Group 1 - The core point of the news is the decline in the stock price of Zhenyu Technology, which fell by 5.01% to 161.60 CNY per share, with a trading volume of 7.51 billion CNY and a turnover rate of 3.68%, resulting in a total market capitalization of 280.34 billion CNY [1] - Zhenyu Technology, established on October 18, 1994, and listed on March 18, 2021, is located in Ningbo, Zhejiang Province. The company specializes in the research, design, production, and sales of precision progressive stamping molds and downstream precision structural components, classified as a high-tech enterprise [1] - The main business revenue composition of Zhenyu Technology includes precision structural components at 79.07%, other products at 15.23%, and molds and accessories at 5.70% [1] Group 2 - According to data from the top ten holdings of funds, one fund under Bank of China holds a significant position in Zhenyu Technology. The Bank of China New Trend Mixed A Fund (001370) held 28,500 shares in the second quarter, accounting for 2.97% of the fund's net value, ranking as the eighth largest holding [2] - The estimated floating loss for the Bank of China New Trend Mixed A Fund today is approximately 243,200 CNY [2] - The Bank of China New Trend Mixed A Fund was established on May 29, 2015, with a latest scale of 97.4046 million CNY. Year-to-date returns are 42.24%, ranking 1488 out of 8172 in its category, while the one-year return is 88.4%, ranking 900 out of 7980 [2]

Group 1 - The core viewpoint of the news is that Zhenyu Technology has seen a significant stock price increase of 5.5%, reaching 168.73 CNY per share, with a total market capitalization of 29.271 billion CNY [1] - Zhenyu Technology, established on October 18, 1994, is located in Ningbo, Zhejiang Province, and specializes in the research, design, production, and sales of precision progressive stamping molds and downstream precision structural components [1] - The company's main business revenue composition includes precision structural components at 79.07%, other products at 15.23%, and molds and accessories at 5.70% [1] Group 2 - According to data, Zhongyin Fund has a significant holding in Zhenyu Technology through its fund Zhongyin New Trend Mixed A, which held 28,500 shares, accounting for 2.97% of the fund's net value, making it the eighth largest holding [2] - The Zhongyin New Trend Mixed A fund has achieved a year-to-date return of 38.19%, ranking 1658 out of 8174 in its category, and a one-year return of 81.45%, ranking 1009 out of 7982 [2] - The fund manager, Yang Cheng, has a tenure of 14 years and 42 days, with the fund's total asset size at 510 million CNY and a best return of 86.94% during his tenure [2]

Core Insights - Zhenyu Technology's stock rose by 5.23% to 160.70 CNY per share, with a trading volume of 355 million CNY and a turnover rate of 1.82%, resulting in a total market capitalization of 27.878 billion CNY [1] Company Overview - Zhenyu Technology Co., Ltd. is located in Ningbo, Zhejiang Province, established on October 18, 1994, and listed on March 18, 2021. The company specializes in the research, design, production, and sales of precision progressive stamping molds and downstream precision components, classified as a high-tech enterprise [1] - The revenue composition of Zhenyu Technology includes precision components at 79.07%, other products at 15.23%, and molds and accessories at 5.70% [1] Shareholder Insights - Yongying Fund's advanced manufacturing mixed fund (018124) is among the top ten circulating shareholders of Zhenyu Technology, having increased its holdings by 3.255 million shares to a total of 6.7226 million shares, representing 5.39% of the circulating shares. The estimated floating profit today is approximately 53.7135 million CNY [2][4] - The fund was established on May 4, 2023, with a latest scale of 2.976 billion CNY. Year-to-date returns are 81.67%, ranking 161 out of 8246 in its category, while the one-year return is 211.34%, ranking 16 out of 8054 [2] Fund Management - The fund manager of Yongying Advanced Manufacturing Mixed Fund (018124) is Zhang Lu, who has a cumulative tenure of 6 years and 47 days. The total asset scale of the fund is 15.413 billion CNY, with the best return during the tenure being 129.77% and the worst being -60.31% [3]

Company Overview - Ningbo Zhenyu Technology Co., Ltd. specializes in the R&D, design, production, and sales of precision progressive stamping molds and downstream precision structural components [1] - The company reported a revenue of 4 billion CNY in the first half of 2025, representing a year-on-year growth of approximately 40.47% [2] - The net profit attributable to shareholders reached 211 million CNY, with a year-on-year increase of about 60% [2] Financial Performance - The operating cash flow for the first half of 2025 was 222.24 million CNY, with a significant improvement in cash flow management [2] - Revenue from precision structural components, including lithium battery components and motor cores, was approximately 3.2 billion CNY, showing a year-on-year growth of 28.59% [2] - The gross margin for precision structural components increased by 1.62% compared to the previous year [2] Market and Industry Insights - The company is focusing on emerging fields such as humanoid robotics, leveraging its advanced technology in precision component manufacturing [1][3] - The growth in the robotics sector is expected to be gradual, with significant investments required in R&D and team building [1] - The company has established a subsidiary dedicated to the design and manufacturing of precision components for humanoid robots [1] Product Development and Innovation - The company has made advancements in its product offerings, including the development of a new generation of linear actuators and integrated bionic arms, achieving a weight reduction of 22.5% compared to previous models [4] - The introduction of adhesive core technology has improved the performance of motor cores, with 20% of motor core revenue coming from this new technology [5] - The company is expanding its product line to include customized integration solutions for downstream clients in the robotics sector [4][6] Risks and Challenges - The humanoid robotics industry is still in its infancy, with the company's main business revenue exceeding 4 billion CNY in the first half of 2025, but contributions from new robotics-related products remain minimal [6] - There are significant uncertainties in the development and market expansion of the emerging robotics sector, which investors should be aware of [1][6]

Investment Rating - The report assigns a "Buy" rating for the company, marking its first coverage [1]. Core Viewpoints - The company has a strong growth trajectory in precision manufacturing, particularly in the fields of electric motor cores and lithium battery structural components, with a significant increase in revenue and profit margins expected [8][14]. - The entry into the humanoid robot sector is seen as a strategic move, with high technical barriers and substantial profit potential [8][14]. - The company is expected to benefit from automation improvements and cost reductions, leading to a recovery in profit margins [8][14]. Summary by Sections 1. Company Overview - The company has been deeply involved in the precision mold industry for over 20 years, expanding into electric motor cores and lithium battery structural components, achieving rapid growth [14]. - Established in 1994, the company has evolved from manufacturing steel needles to becoming a leader in precision stamping molds and structural components [14]. 2. Financial Performance - The company’s revenue grew from 1.193 billion to 7.129 billion yuan from 2020 to 2024, with a CAGR of 42.96% [23]. - The net profit increased from 130 million to 254 million yuan during the same period, reflecting a CAGR of 14.42% [23]. - The company’s gross margin for lithium battery structural components is projected to rise to over 12% by 2025 [8][23]. 3. Precision Molding Business - The precision stamping mold technology is critical for downstream component performance, and the company is recognized as a domestic leader in this field [33][40]. - The company’s molds are used in various industries, including automotive and industrial control, with a focus on high efficiency and precision [33][40]. 4. Lithium Battery Structural Components - The company has established strong partnerships with major clients like CATL, leading to a rapid increase in market share [8][14]. - Revenue from lithium battery structural components is expected to grow by over 35% starting in 2025, driven by increased demand from second and third-tier battery clients [8][14]. 5. Humanoid Robot Sector - The company is entering the humanoid robot market, focusing on the production of precision components such as lead screws, which are essential for robot functionality [8][14]. - The lead screw market is characterized by high technical barriers, and the company is well-positioned to capture significant market share due to its existing precision manufacturing capabilities [8][14]. 6. Profit Forecast - The company’s projected net profits for 2025, 2026, and 2027 are 413 million, 575 million, and 785 million yuan respectively, with year-on-year growth rates of 62.67%, 39.21%, and 36.52% [1][8].

Core Viewpoint - The company is expanding its business from traditional precision manufacturing into emerging fields such as robotics, while maintaining a focus on precision stamping molds and lithium battery structural components [1] Group 1: Business Development - The company started with precision manufacturing and has developed a business model centered on precision stamping molds, lithium battery structural components, and precision motor cores, while also venturing into humanoid robotics [1] - In 2015, the company initiated a project for precision structural components for lithium batteries, capitalizing on the growth of the electric vehicle industry [1] - The establishment of the wholly-owned subsidiary Martin Robotics in 2024 marks the company's entry into the robotics sector, achieving breakthroughs in actuator transmission and drive modules [1][3] Group 2: Financial Performance - In 2023, the company's operating revenue reached 6.019 billion yuan, a year-on-year increase of 4.63%, while the net profit attributable to shareholders was 43 million yuan, a significant decline of 58.73% [2] - The decline in net profit was attributed to several factors, including quality compensation from 2022 affecting the power lithium battery top cover, increased R&D expenses, rising management costs, and higher depreciation due to new production facilities [2] - The company’s structural component revenue showed a rebound in growth in 2024, with revenue increasing to 5.75 billion yuan, reflecting a growth rate of 15.5% [3] Group 3: Profitability and Future Outlook - The gross margin for structural components was 13.3% in 2024, recovering from a low of 11.3% in 2023, indicating improved profitability [3] - The company forecasts operating revenues of 9.114 billion, 11.454 billion, and 14.051 billion yuan for 2025 to 2027, with net profits projected at 409 million, 557 million, and 701 million yuan respectively [4] - The company is expected to achieve a net profit of 410 million yuan in 2025, corresponding to a PE ratio of 32, which is higher than the average PE ratio of comparable companies [4]

雷达财经 文|冯秀语 编|李亦辉 5月12日，宁波震裕科技股份有限公司（证券简称：震裕科技，证券代码：300953）发布公告，披露了公司控股股东、实际控制人蒋震林先生部分股份质押 的情况。蒋震林先生本次质押了6,000,000股，占其所持股份的18.06%，占公司总股本的4.81%。质押起始日为2025年5月9日，质押到期日为9999年1月1日， 质权人为浙商银行股份有限公司宁波宁海支行，质押用途为融资需求。 截至公告披露日，蒋震林先生及其一致行动人累计质押股份数量为25,661,210股，占其所持股份的44.86%，占公司总股本的20.58%。公告强调，此次股份质 押不会对公司的生产经营和治理产生重大影响，且不存在被冻结、拍卖、平仓或强制过户的风险。公司将持续关注相关股份质押及风险情况，并按规定及时 披露信息，提醒投资者注意投资风险。 目前，公司董事长为蒋震林，董秘为彭勇泉，员工人数为5656人，实际控制人为蒋震林、洪瑞娣。 公司参股公司23家，包括常州震裕新能源科技有限公司、上饶震裕汽车部件有限公司、宁波震裕销售有限公司、岳阳范斯特机械科技有限公司、苏州范斯特 机械科技有限公司等。 在业绩方面，公司202 ...

Group 1: Company Overview and Financial Performance - Ningbo Zhenyu Technology Co., Ltd. specializes in the R&D, design, production, and sales of precision progressive stamping molds and downstream precision structural components [3] - In 2024, the company achieved a revenue of CNY 7.129 billion, a year-on-year increase of approximately 18.45%, and a net profit attributable to shareholders of CNY 254 million, up about 494% [3] - For Q1 2025, the company reported a revenue of CNY 1.793 billion, a year-on-year growth of approximately 24.24% [3] Group 2: Business Segments and Growth - Revenue from lithium battery structural components grew by 30% year-on-year, with a gross profit margin increase of 42.4% [3] - The motor core segment saw a revenue decline of approximately 12%, but gross profit increased by 2.41% [3] - The mold segment's revenue increased by about 33% year-on-year, with a gross profit margin rise of 4.97% [3] Group 3: Strategic Initiatives and Future Outlook - The company plans to enhance production line automation and expand its customer base to achieve scale benefits [3][4] - A focus on R&D investment to develop new products and improve gross margins is part of the strategic plan [3] - The company aims to establish a subsidiary to focus on precision components for emerging fields like humanoid robots, despite the long development cycles and associated risks [3][11] Group 4: Risk Management and Market Conditions - The company acknowledges the risks associated with the long development cycles in emerging industries and the need for significant investment in technology and team building [3] - Recent changes in payment methods from a key customer have led to an increase in accounts receivable, which the company plans to manage more effectively [5] - The impact of recent tariff increases on the company's business is minimal, as direct export revenue has been low, accounting for 1.9%, 2.96%, and 2.22% over the past three years [5] Group 5: Shareholder Returns and Profit Distribution - The company has consistently returned at least 10% of its net profit to shareholders as cash dividends in recent years [5] - A proposal for a stock split of 10 shares for every 4 shares is under consideration to enhance stock liquidity [5]