公司亮点 我国羊毛及羊绒纱线龙头，产能优势助力市占率提升。2025 年前 三季度公司营收 38.94 亿元，同比增长 0.60%，归母净利润 3.77 亿元，同比增长 1.98%，2024 年公司内贸/外贸占比分别为 71%/29%。公司产能主要分布在浙江、宁夏、越南等地，目前拥有 毛精纺纱线产能约 19.4 万锭，羊绒纱线产能超 3200 吨。公司较 竞对企业拥有产能优势。1）2022 年开始拓展越南产能，有利于海 外客户接单。2）相较竞对企业，公司生产效率/成本相较更有优 势，我们预计公司市占率有望持续提升。 投资逻辑： 盈利看点 2：越南/宁夏产能爬坡。越南 5 万锭高档精纺生态纱项 目一期 2 万锭已于 2025 年 6 月投产，宁夏 2 万锭高品质精纺羊毛 (绒)纱建设项目已于 2025 年 8 月投产，2026 年毛精纺纱线产能利 用率预计较 2025 年进一步提升，毛利率有望增长。 高分红托底：公司 2014 年上市至今累计分红 13.7 亿元，近七年 分红率维持在 50%以上，假设 25 年分红与 24 年一致为 51%，当前 股息率超 4%。 盈利预测、估值和评级 我们预计 25-27 年公 ...

国泰安康定期支付混合A（000367）成立日期2014年4月30日，最新规模1.7亿。今年以来收益0.64%， 同类排名7865/9012；近一年收益4.77%，同类排名7350/8157；成立以来收益104.3%。 国泰安康定期支付混合A（000367）基金经理为茅利伟。 1月12日，新澳股份涨5.01%，截至发稿，报8.60元/股，成交7163.20万元，换手率1.19%，总市值62.80 亿元。 资料显示，浙江新澳纺织股份有限公司位于浙江省桐乡市崇福镇观庄桥，成立日期1995年9月8日，上市 日期2014年12月31日，公司主营业务涉及羊毛纱线及羊毛毛条、羊绒纱线的研发、生产和销售。主营业 务收入构成为：毛精纺纱线56.11%，羊绒30.77%，羊毛毛条11.87%，改性处理、染整及羊绒加工 0.78%，其他0.48%。 从基金十大重仓股角度 数据显示，国泰基金旗下1只基金重仓新澳股份。国泰安康定期支付混合A（000367）三季度持有股数 20万股，占基金净值比例为0.66%，位居第五大重仓股。根据测算，今日浮盈赚取约8.2万元。 截至发稿，茅利伟累计任职时间2年214天，现任基金资产总规模41.75亿 ...

1月8日，新澳股份涨5.17%，截至发稿，报8.14元/股，成交1.08亿元，换手率1.86%，总市值59.44亿 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。 从基金十大重仓股角度 责任编辑：小浪快报 银河转型混合A（519651）基金经理为杨琪。 资料显示，浙江新澳纺织股份有限公司位于浙江省桐乡市崇福镇观庄桥，成立日期1995年9月8日，上市 日期2014年12月31日，公司主营业务涉及羊毛纱线及羊毛毛条、羊绒纱线的研发、生产和销售。主营业 务收入构成为：毛精纺纱线56.11%，羊绒30.77%，羊毛毛条11.87%，改性处理、染整及羊绒加工 0.78%，其他0.48%。 截至发稿，杨琪累计任职时间9年4天，现任基金资产总规模5.41亿元，任职期间最佳基金回报70.44%， 任职期间最差基金回报-21.19%。 数据显示，银河基金旗下1只基金重仓新澳股份。银河转型混合A（519651）三季度持有股数122.81万 股，占基金净值比例为2.74%，位居第九大重仓 ...

Core Points - New Australia Co., Ltd. experienced a stock price decline of 2.06% on November 17, trading at 8.10 yuan per share with a market capitalization of 5.915 billion yuan [1] - The company has seen a year-to-date stock price increase of 20.72%, with a 35.45% rise over the past 60 days [1] - As of September 30, the company reported a revenue of 3.894 billion yuan for the first nine months of 2025, reflecting a year-on-year growth of 0.60% [2] Financial Performance - The company’s main business revenue composition includes: fine wool yarn 56.11%, cashmere 30.77%, wool tops 11.87%, modified processing, dyeing and finishing, and cashmere processing 0.78%, and others 0.48% [1] - The net profit attributable to the parent company for the same period was 377 million yuan, showing a year-on-year increase of 1.98% [2] Shareholder Information - As of September 30, the number of shareholders increased by 8.80% to 16,000, with an average of 44,965 circulating shares per person, a decrease of 8.09% [2] - Since its A-share listing, the company has distributed a total of 1.372 billion yuan in dividends, with 643 million yuan distributed over the past three years [3]

Core Insights - New Australia Co., Ltd. (新澳股份) has seen a stock price increase of 17.29% year-to-date, with a recent price of 7.87 CNY per share and a market capitalization of 5.747 billion CNY [1] - The company operates in the textile manufacturing sector, focusing on wool yarn and cashmere yarn production, with a revenue composition heavily weighted towards fine wool yarn at 56.11% [1][2] - For the first nine months of 2025, the company reported a revenue of 3.894 billion CNY, reflecting a year-on-year growth of 0.60%, and a net profit of 377 million CNY, up 1.98% [2] Financial Performance - As of September 30, the number of shareholders increased by 8.80% to 16,000, while the average number of tradable shares per person decreased by 8.09% to 44,965 shares [2] - The company has distributed a total of 1.372 billion CNY in dividends since its A-share listing, with 643 million CNY distributed over the past three years [3] Market Activity - The stock experienced a net outflow of 506,800 CNY in principal funds, with significant buying and selling activity noted in large orders [1] - The company has appeared on the trading leaderboard once this year, with a net buy of -50.8695 million CNY on October 10 [1]

Company Overview - Zhejiang Xin'ao Textile Co., Ltd. is located in Tongxiang City, Zhejiang Province, established on September 8, 1995, and listed on December 31, 2014. The company specializes in the research, production, and sales of wool yarn, wool tops, and cashmere yarn [1][2]. Financial Performance - For the period from January to September 2025, Xin'ao achieved operating revenue of 3.894 billion yuan, representing a year-on-year growth of 0.60%. The net profit attributable to the parent company was 377 million yuan, with a year-on-year increase of 1.98% [2]. - Since its A-share listing, Xin'ao has distributed a total of 1.372 billion yuan in dividends, with 643 million yuan distributed over the past three years [3]. Stock Performance - As of November 5, Xin'ao's stock price increased by 2.10%, reaching 7.77 yuan per share, with a total market capitalization of 5.674 billion yuan. The stock has risen by 15.80% year-to-date, with a 1.97% increase over the last five trading days, 14.26% over the last 20 days, and 28.01% over the last 60 days [1]. - The company has seen a net inflow of main funds amounting to 324,400 yuan, with large orders accounting for 5.75% of total purchases and 3.72% of total sales [1]. Shareholder Information - As of September 30, Xin'ao had 16,000 shareholders, an increase of 8.80% from the previous period. The average number of circulating shares per person decreased by 8.09% to 44,965 shares [2]. Business Segments - The main business revenue composition includes: fine wool yarn (56.11%), cashmere (30.77%), wool tops (11.87%), modified processing, dyeing, and cashmere processing (0.78%), and others (0.48%) [1]. Industry Classification - Xin'ao belongs to the textile and apparel industry, specifically in the textile manufacturing sector, with concepts including low price-to-earnings ratio, antibacterial fabrics, Yangtze River Delta integration, small-cap stocks, and industrial internet [2].

Core Viewpoint - New Ao Co., Ltd. has experienced a decline in stock price recently, with a year-to-date increase of 12.37% and a notable drop of 2.20% in the last five trading days [2] Group 1: Stock Performance - As of November 4, New Ao's stock price was 7.54 CNY per share, with a market capitalization of 5.506 billion CNY [1] - The stock has seen a 25.88% increase over the past 60 days, while it has decreased by 2.20% in the last five trading days [2] - The company has appeared on the "Dragon and Tiger List" once this year, with a net buy of -50.87 million CNY on October 10 [2] Group 2: Financial Performance - For the period from January to September 2025, New Ao achieved a revenue of 3.894 billion CNY, reflecting a year-on-year growth of 0.60%, and a net profit attributable to shareholders of 377 million CNY, up by 1.98% [2] - Cumulative cash dividends since the company's A-share listing amount to 1.372 billion CNY, with 643 million CNY distributed over the past three years [3] Group 3: Business Overview - New Ao Co., Ltd. specializes in the research, production, and sales of wool yarn and cashmere yarn, with its main revenue sources being fine wool yarn (56.11%), cashmere (30.77%), and wool tops (11.87%) [2] - The company is classified under the textile and apparel industry, specifically in textile manufacturing, and is associated with concepts such as low price-to-earnings ratio and industrial internet [2]

Company Overview - Zhejiang Xin'ao Textile Co., Ltd. was established on September 8, 1995, and listed on December 31, 2014. The company specializes in the research, production, and sales of wool yarn, wool tops, and cashmere yarn [2] - The main revenue composition includes: fine wool yarn 56.11%, cashmere 30.77%, wool tops 11.87%, modified processing, dyeing, and cashmere processing 0.78%, and others 0.48% [2] Stock Performance - Xin'ao shares have increased by 18.33% year-to-date, with a 3.93% rise in the last five trading days, 28.69% in the last 20 days, and 31.02% in the last 60 days [2] - As of October 24, the stock price was 7.94 CNY per share, with a market capitalization of 5.799 billion CNY [1] Trading Activity - On October 10, Xin'ao shares appeared on the trading leaderboard with a net buy of -50.8695 million CNY, total buy of 112 million CNY (27.48% of total trading volume), and total sell of 163 million CNY (39.94% of total trading volume) [2] - As of October 24, the main funds had a net inflow of 1.8281 million CNY, with significant buying and selling activity [1] Financial Performance - For the period from January to June 2025, Xin'ao achieved operating revenue of 2.554 billion CNY, a slight decrease of 0.08% year-on-year, while net profit attributable to shareholders was 271 million CNY, an increase of 1.67% [2] - Since its A-share listing, Xin'ao has distributed a total of 1.372 billion CNY in dividends, with 643 million CNY distributed in the last three years [3] Shareholder Information - As of June 30, 2025, the number of shareholders increased to 14,700, with an average of 48,921 circulating shares per person, a decrease of 2.17% from the previous period [2]

Group 1 - The core point of the news is that Zhejiang Xin'ao Textile Co., Ltd. has seen a stock price increase of 5.04%, reaching 7.92 CNY per share, with a total market capitalization of 5.784 billion CNY [1] - The company was established on September 8, 1995, and went public on December 31, 2014. Its main business involves the research, production, and sales of wool yarn, wool tops, and cashmere yarn [1] - The revenue composition of the company's main business includes: fine wool yarn 56.11%, cashmere 30.77%, wool tops 11.87%, modified processing, dyeing, and cashmere processing 0.78%, and others 0.48% [1] Group 2 - From the perspective of fund holdings, one fund under Galaxy Fund has a significant position in Xin'ao shares. Galaxy Meili Mixed A (519664) reduced its holdings by 468,400 shares in the second quarter, retaining 1.1546 million shares, which accounts for 3.06% of the fund's net value [2] - The fund has achieved a floating profit of approximately 438,700 CNY today [2] - Galaxy Meili Mixed A was established on May 29, 2014, with a current scale of 169 million CNY. Year-to-date returns are 14.04%, ranking 5007 out of 8162 in its category; the one-year return is 14.87%, ranking 4628 out of 8024; and since inception, the return is 140.08% [2]

Company Overview - Zhejiang Xin'ao Textile Co., Ltd. is located in Tongxiang City, Zhejiang Province, established on September 8, 1995, and listed on December 31, 2014. The company's main business involves the research, production, and sales of wool yarn, wool tops, and cashmere yarn [2]. Financial Performance - For the first half of 2025, Xin'ao achieved operating revenue of 2.554 billion yuan, a slight decrease of 0.08% year-on-year, while net profit attributable to shareholders increased by 1.67% to 271 million yuan [2]. - Since its A-share listing, Xin'ao has distributed a total of 1.372 billion yuan in dividends, with 643 million yuan distributed over the past three years [3]. Stock Performance - As of October 17, Xin'ao's stock price increased by 2.12% to 7.71 yuan per share, with a total market capitalization of 5.631 billion yuan. The stock has risen by 14.90% year-to-date, with a 0.64% decline over the last five trading days, a 23.76% increase over the last 20 days, and a 31.35% increase over the last 60 days [1][2]. - The stock has appeared on the "Dragon and Tiger List" once this year, with the most recent appearance on October 10, where it recorded a net buy of -50.8695 million yuan [2]. Shareholder Information - As of June 30, 2025, Xin'ao had 14,700 shareholders, an increase of 2.22% from the previous period, with an average of 48,921 circulating shares per person, a decrease of 2.17% [2]. - The top ten circulating shareholders saw a change, with the "Jiaoyin New Vitality Flexible Allocation Mixed A" fund exiting the list [3]. Capital Flow - On October 17, the net inflow of main funds was 1.1989 million yuan, with large orders accounting for 14.12% of total purchases and 17.33% of total sales [1].