明年，洛克希德马丁公司（ NYSE： LMT ）将迎来 100 周年纪念日。最近公布的季度业绩完美地反映了洛克希德公司作为一家百年历史、行动 迟缓的承包商所面临的问题，以及为什么很难看到未来超越市场的回报之路。 由于缺乏运营杠杆或定价能力，洛克希德的收入增长轨迹仅限于中等个位数，利润率持平。这样的轨迹不太可能长期持续带来超越市场的回 报。 第二季度业绩进一步强化了熊市论：本季度销售额为182亿美元，同比持平，低于预期的185亿美元。增长主要来自导弹和火控业务，增长 11%；其次是航天业务，增长4%；最后是航空业务，增长2%。旋翼机和任务系统业务同比下降12%。 【如需和我们交流可扫码添加进社群】 | | Quarters Ended | | | | | --- | --- | --- | --- | --- | | | June 29. | | June 30. | 0/0 | | | 2025 | | 2024 | Change | | Sales | | | | | | Aeronautics | ર્ક 7.420 | ട് | 7,277 | 2% | | Missiles and Fire Cont ...

乌克兰国家安全与国防委员会反虚假信息中心主任安德烈·科瓦连科当地时间6月7日在其官方社交平台 上称，俄罗斯 卢克石油公司的一座炼油厂发生了火灾。他表示，卢克石油公司是俄罗斯燃料行业的关 键 资产之一，主要为俄罗斯 军队提供航空、装甲车辆和后勤燃料。目前，俄罗斯方面对此暂无说明。 ...

Core Viewpoint - Sichuan Youji Industrial Co., Ltd. plans to issue convertible bonds to raise funds for the transformation of its intelligent valve production line, with a total investment of approximately 121.34 million yuan, of which 120 million yuan will be raised through this bond issuance [3][8]. Company Overview - The company specializes in the research, design, manufacturing, and sales of customized machinery and components, primarily providing fluid control equipment and components for the oil and gas chemical industry, as well as engineering and mining machinery components [8][9]. - As of December 31, 2024, the total share capital of the company is 101,521,378 shares, with a shareholding structure that includes both unrestricted and restricted shares [8][9]. Industry Characteristics - The customized machinery and components industry is a foundational sector for high-end equipment, receiving strong support from national policies aimed at promoting advanced manufacturing and intelligent production [9][10]. - The industry is characterized by a diverse range of applications across various sectors, including oil and gas, mining, and general machinery, which helps mitigate the impact of fluctuations in individual sectors [18][20]. Market Dynamics - The mechanical equipment and components industry is closely tied to the overall macroeconomic cycle, with demand influenced by national investment in infrastructure and industrial projects [18][20]. - The industry has seen a steady increase in exports, with the total import and export volume of mechanical goods exceeding 1.17 trillion USD in 2024, marking a 7.5% year-on-year growth [16][17]. Competitive Landscape - The company has established a strong reputation and customer base, recognized by international firms such as Emerson and Honeywell, and has become a key supplier for major state-owned enterprises in China [21]. - The industry faces significant barriers to entry, including supply chain management, brand loyalty, and technological expertise, which favor established players [20][21].