公司基本信息 | 产业别 | 电气设备 | | --- | --- | | A 股价(2025/7/7) | 100.80 | | 深证成指(2025/7/7) | 10435.51 | | 股价 12 个月高/低 | 168.33/34.12 | | 总发行股数(百万) | 240.20 | | A 股数(百万) | 206.20 | | A 市值(亿元) | 207.85 | | 主要股东 | 深圳前海兆威 | | | 金融控股有限 | | | 公司(35.44%) | | 每股净值(元) | 13.43 | | 股价/账面净值 | 7.51 | | | 一个月 三个月 一年 | | 股价涨跌(%) | -3.5 -11.0 130.0 | 近期评等 2025 年 07 月 08 日 赵旭东 H70556@capital.com.tw 目标价(元) 118 | 出刊日期 | 前日收盘 | 评等 | | --- | --- | --- | | 产品组合 | | | | 微型传动系统 | | 63.3% | | 精密零件 | | 30.7% | | 精密模具及其他 | | 6.0% | 机构投资者占流通 A ...

以下文章来源于霞光社 ，作者岭南人鱼机 霞光社 . 赋能企业全球化 来源丨霞光社 时间轴来到2025，日本经济跑不动的趋势更鲜明了。 日前，在日本政府公布的本年度"经济财政运 营和改革基本方针"草案中，"风险"一词共计出现18次（包括在文件目录中），出现频率明显高于 过去几年，反映了日本政府对于经济形势的担忧。 那么为什么中国电商平台会在此刻着眼于日本市场？难道疲软的日本市场，开始在电商层面呈现结 构性机遇了吗？日本市场的消费降级，能够为中国商品带来新的可能性吗？ 作者｜岭南人鱼机 编辑｜李小天 "经济上行的美"成为今年上半年的流行词，带着对昨日生机勃勃的浓烈怀旧气息，击中了无数年轻 人的心。 2025年Q1，日本GDP再次出现负增长，这意味着自1989年日本泡沫经济破裂后，经济停滞的状态 已经长达35年之久。期间，日本GDP全球占比从1989年的约15.3% [1] 降至2022年的4.18%， GDP总量从位居全球第二，先后在2010年、2023年被中国、德国超越，跌至全球第四。 值得提及的是，尽管同为东亚社会，日本市场极具特殊性。一方面，日元是世界前三大国际储备货 币中，唯一的非西方主权货币；同时，日本 ...

Group 1 - The company has received a surge in orders from the U.S., with a backlog totaling approximately $8 million, and plans to fulfill these orders within a month [3] - The company's precision parts are in high demand due to their competitive advantages, including a product lifespan exceeding 500 hours compared to less than 300 hours for similar products [3] - The company is a leading supplier for major global oil service companies and has consistently exported over $100 million annually, maintaining its position as the top exporter in its city [3] Group 2 - The company is diversifying its market presence by exploring new overseas markets, having developed 25 new clients in countries such as Canada, South Korea, and Saudi Arabia, with non-U.S. market orders totaling approximately $113,000 [4] - The company is focusing on upgrading its products to higher value-added components and tools, enhancing competitiveness through innovation and collaboration within the supply chain [4] - The company has established market development teams for regions like South America and Europe to expand its global business [4]

4月23日，绵阳科技城光子技术研究院 工作人员正在制作精密器件。四川日报全媒体记者 赵明 摄 对青年人才的吸引力，推动绵阳城市 公共服务加快升级，打造青年友好型园区。图为航拍的绵阳科技城新区。绵阳观察 郭超英 摄 绵阳科技城新区的无人驾驶车辆。 绵阳 观察 郭超英 摄 □四川日报全媒体记者 王国平 祖明远 王培哲 任紫鑫城市硬实力科技城单项冠军四川旭虹光电科 技有限公司高铝超薄触控屏保护玻璃四川东方绝缘材料股份有限公司电工聚酯薄膜四川省银河化 学股份有限公司重铬酸钾绵阳富临精工股份有限公司可变气门正时系统（VVT）绵阳西磁科技有 限公司钐钴磁性元件5月6日，结束休假从山东赶回绵阳的四川玖谊源粒子科技有限公司（下称玖 谊源）技术经理张鹏，在工作本上记下医用回旋加速器中心区提升研究、研发团队碰头会等工作 要点。他暗下决心："早日推出国产30兆伏回旋加速器产品。"同一天，绵阳巨星永磁材料有限公 司（下称巨星永磁）技术人员曾基灵准备前往成都，代表公司参与磁悬浮技术攻关项目。张鹏和 曾基灵都是从外地来绵的新青年。吸引他们的不是绵阳众多的科研院所，而是可从事技术成果转 化与创新产品研发工作的创新平台。过去3年，绵阳吸引各 ...

作为汽车零部件领域的隐形冠军，隆盛科技业务版图已形成"传统汽车部件+新能源核心产品+机器人核 心零部件"的三维矩阵。 换而言之，隆盛科技及其子公司，经营主要围绕EGR（废气再循环）部件总成、马达铁芯及驱动电机半 总成、精密零件以及航天航空业务展开。 新能源汽车驱动电机马达铁芯业务是龙盛街业绩增长引擎，2024年营收10.34亿元，同比增长29.21%， 配套问界M8、小米YU7等热门车型。 5月12日，隆盛科技在投资者关系活动上表示，隆盛科技与博世、赛力斯的新能源电机半总成项目进展 顺利，预计2025年下半年同步量产。 其中，隆盛科技为博世的供应，围绕轻卡产品（功率接近乘用车驱动电机）开展，而赛力斯项目由隆盛 新能源子公司重庆隆盛茂茂新能源科技有限公司（成立于2024年，以下简称隆盛新能源）供货。 此事标志着隆盛科技实现了从单一零部件供应商向系统集成商的升级，尽管尚处于初级阶段。 隆盛新能源的竞争优势是研发生产的铁芯定转子拥有较强的生产研发制造能力，定转子的未来新技术有 极强积累。 值得注意的是，隆盛科技正在积极布局机器人特别是人形机器人相关业务，包括灵巧手、谐波减速器、 关节总成等。 目前微研中佳已建设完成 ...

Group 1: Business Segments and Developments - Aerospace precision manufacturing is a key future business area for the company, with a focus on UAV components and missile precision parts [2][3] - The company is developing the third generation of dexterous hands for humanoid robots, targeting multi-sensor integration and control [3] - The company has established a strong market presence in the new energy electric drive core, with significant supply to leading electric vehicle manufacturers [3][4] Group 2: Strategic Partnerships and Projects - The company is collaborating with Bosch on the new energy commercial vehicle drive motor assembly, with supply expected to start in the second half of 2025 [3][4] - The company has successfully broken the foreign monopoly in the heavy-duty truck EGR valve market and is expanding its customer base [7] - The company has entered into contracts for commercial satellite projects with Galaxy Aerospace, with ongoing cooperation with China Aerospace Technology Group [10][11] Group 3: Market Position and Competitiveness - The company holds a leading position in the domestic EGR system market for passenger vehicles, supplying major clients such as BYD, Chery, and Geely [6][7] - The EGR technology is positioned as a key solution for energy conservation and emission reduction in both commercial and passenger vehicles, aligning with national policies [5][6] - The company is optimistic about the market prospects for EGR systems, leveraging over 20 years of industry experience [5][6] Group 4: Financial Outlook and Growth Drivers - The revenue contribution from satellite products is expected to be 10-15% in 2024 [10] - The company anticipates significant growth in the precision components sector driven by new project mass production and an expanding customer base [7][8] - The copper busbar business is projected to double in 2025, supported by various vehicle models [8]

Summary of Conference Call Notes Company and Industry Overview - The conference call discusses **Changjiang Automobile** and its joint venture with **Tuman Intelligent**, focusing on the **four-wheel drive system** and **screw rod production**. The collaboration aims to leverage both companies' strengths to overcome technical bottlenecks and enhance equipment qualifications and R&D capabilities [2][5]. Key Financial Performance and Growth Factors - In Q1 2025, Changjiang Automobile reported **revenue of 180 million yuan**, a **26% year-on-year increase**, with a profit of approximately **70 million yuan**, reflecting a **37% growth**. The revenue growth is primarily driven by overseas markets, with expectations for continued contributions from traditional business in 2025 [4][40]. - The gross margin for Q1 2025 improved due to **scale effects** and **internal process enhancements**, particularly a **10% increase in assembly line efficiency**. This improvement helped meet the rising demand from clients like BYD [2][6][7]. - The company anticipates **20%+ overall revenue growth** in 2025, with overseas revenue expected to rise from **40% in 2024 to 50% in 2025** [3][40]. Market Expansion and Performance - The Czech market is projected to grow by **80% in 2024**, with a net profit margin of **20%**, while the Mexican market is expected to grow by **30%**. This indicates significant revenue and profitability improvements in overseas markets [2][8]. - BYD is expected to account for approximately **15% of revenue in 2024**, with Volkswagen contributing around **40-50%**, of which **30% is from overseas**. BYD's sales are projected to increase significantly in 2025, potentially enhancing market share for Changjiang [25][37]. Joint Venture and Product Development - The joint venture with Tuman Intelligent will focus on producing screw rods using **extrusion and grinding processes**, targeting both vehicle and robotics sectors. The partnership includes exclusive agreements to protect interests and is expected to start sample deliveries in the second half of 2025 [2][10][21]. - The company is also developing screw rod equipment in collaboration with Tuman, leveraging Tuman's strengths in gear machine tools and grinding machines [11][12]. Challenges and Strategic Considerations - Despite strong overseas growth, the company faces challenges in management, particularly regarding local employee management and initial profit margins. However, the European market remains profitable, and the company is optimistic about its performance [30][31]. - The company plans to maintain a **high capacity utilization rate** of **80-90%** in overseas markets, with ongoing improvements in assembly line efficiency to support profitability [26]. Research and Development - R&D expenses are expected to increase in 2025, particularly for the **magnetic steel project**, with a total budget of **500 million yuan**. The company is in the early stages of this project, with significant investments planned for future phases [47][48]. Conclusion and Investor Communication - The company is in a preliminary R&D phase, with many details remaining confidential. The chairman expresses confidence in the company's future and encourages investors to reach out with any questions [54].