证券日报网讯世荣兆业11月25日在互动平台回答投资者提问时表示，公司主营业务为房地产开发与经 营；公司参股公司玉柴船舶动力股份有限公司的主营业务为生产船用低速发动机。 （文章来源：证券日报） ...

（文章来源：每日经济新闻） 世荣兆业（002016.SZ）11月25日在投资者互动平台表示，公司主营业务为房地产开发与经营；公司参 股公司玉柴船舶动力股份有限公司的主营业务为生产船用低速发动机。 每经AI快讯，有投资者在投资者互动平台提问：贵司是否属于船舶制造行业？ ...

Group 1 - The company has a stake in Yuchai Marine Power Co., Ltd., which primarily produces marine low-speed engines, an important component of marine equipment [1] - Currently, the company is not involved in other deep-sea economic sectors [1] Group 2 - An investor inquired about the company's plans in the deep-sea economy sector [2]

Core Viewpoint - The company has indicated that its associate, Yuchai Marine Power Co., Ltd., primarily produces marine low-speed engines, which are a significant component of marine equipment. Currently, the company is not involved in other deep-sea economic sectors [1]. Group 1 - The company is involved in the marine equipment sector through its associate, Yuchai Marine Power Co., Ltd. [1] - Yuchai Marine Power Co., Ltd. specializes in the production of marine low-speed engines [1] - The company does not have operations in other deep-sea economic fields at this time [1]

Core Viewpoint - The company has stated that its associate, Yuchai Marine Power Co., Ltd., primarily produces marine low-speed engines, which are a crucial component of marine equipment. Currently, the company is not involved in other deep-sea economic sectors [1]. Group 1 - The company is involved in the marine equipment sector through its associate, Yuchai Marine Power Co., Ltd. [1] - Yuchai Marine Power Co., Ltd. specializes in the production of marine low-speed engines [1] - The company does not have operations in other deep-sea economic fields at this time [1]

Group 1: Company Strategy and Future Plans - The company will continue to focus on real estate as its main business while actively exploring diversified layouts to create new growth points [2][10] - In 2025, the company aims to enhance its urban operations, centralized heating, commodity trade, cultural tourism, and industrial investment sectors [2][10] Group 2: Financial Performance - For the first half of 2025, the company achieved a revenue of CNY 598.05 million, representing a year-on-year growth of 9.85% [7] - The real estate revenue was CNY 337.59 million, while heating supply revenue was CNY 117.23 million [7] - The net profit attributable to shareholders was CNY 15.29 million, a decrease of 44.35% compared to the previous year [7] - As of June 30, 2025, the total assets amounted to CNY 7.31 billion, with equity attributable to shareholders totaling CNY 4.80 billion [7] Group 3: Legal Matters - The company is currently involved in an overseas lawsuit where a judgment has ordered a compensation of approximately CNY 2.2 billion [9][10] - The outcome of the lawsuit remains uncertain, and the company advises caution regarding investment risks [9][11] Group 4: Technological Development - The company is actively researching the application of cloud computing and big data in the construction industry, having obtained 3 invention patents and 42 utility model patents [6] - The company is committed to integrating technology into its operations to support the development of smart cities and communities [10]

Core Viewpoint - The report from Zheshang Securities indicates that China Power's net profit attributable to shareholders for the first half of 2025 increased by approximately 93.35% year-on-year, with a 35.2% year-on-year growth in Q2 2025 [1] Group 1: Performance Highlights - The significant growth in performance is attributed to the continued growth momentum in the shipbuilding industry, with the company's diesel engine segment experiencing rapid sales growth and a substantial increase in contract settlements, alongside rising prices and improved gross margins for main products such as marine low-speed engines [1] - The marine machinery segment also saw an expansion in sales scale, increased order deliveries, and higher contract settlements, leading to year-on-year growth in both revenue and profit [1] - The company has implemented a "cost engineering" strategy, focusing on controlling three types of expenses, which has continuously enhanced product profitability, resulting in a year-on-year profit increase [1] Group 2: Order and Contract Insights - In terms of new orders, the company signed contracts worth 33.919 billion yuan in the first half of 2025, representing a year-on-year increase of 25.42% [1] - As of June 30, 2025, the company held contracts worth 62.794 billion yuan, an 8% increase compared to the same period last year [1] - As a leading enterprise in marine engines, the company is expected to benefit preferentially from the upward cycle in the shipbuilding industry [1]

Investment Rating - The investment rating for the company is "Buy" (maintained) [6] Core Views - The company reported a significant increase in net profit for the first half of 2025, with a year-on-year growth of approximately 93.35% and a 35.2% increase in Q2 2025 [1] - The growth in revenue and profit is attributed to the continued expansion in the shipbuilding industry, increased sales in the diesel engine segment, and effective cost control measures [1][3] - The company has a strong order book, with new contracts signed in the first half of 2025 amounting to 339.19 billion yuan, representing a year-on-year increase of 25.42% [1] Financial Performance - In H1 2025, the company's revenue reached 27.651 billion yuan, a year-on-year increase of 11.22%, while the net profit attributable to shareholders was 919 million yuan, up 93.35% [1] - The company's gross profit margin improved by 4.65 percentage points year-on-year in H1 2025, with a gross margin of approximately 16.49% [3] - The revenue breakdown by business segments shows that the diesel power segment generated 139.68 billion yuan, a 27.25% increase year-on-year, accounting for 50.52% of total revenue [2] Market Outlook - The shipbuilding cycle is on an upward trend, with demand for various ship types increasing, which is expected to improve the profitability of shipyards [5] - The company is well-positioned to benefit from the tight supply-demand relationship in the ship engine market, as it is a leading player in the industry [10] - The after-market service for diesel engines presents a significant growth opportunity, with the company expanding its global service network [10][11] Earnings Forecast and Valuation - The company is projected to achieve revenues of approximately 600 billion yuan, 681 billion yuan, and 757 billion yuan for 2025, 2026, and 2027, respectively, with a compound annual growth rate (CAGR) of 14% [12] - The net profit attributable to shareholders is expected to reach 21.4 billion yuan, 30.1 billion yuan, and 37.7 billion yuan for the same years, with a CAGR of 39% [12] - The estimated price-to-earnings (P/E) ratios for 2025, 2026, and 2027 are approximately 23, 16, and 13, respectively [12]

Core Viewpoint - The company Yuchai Shipbuilding, in which the company holds a stake, has shown significant growth in revenue and net profit due to the recovery of the shipbuilding industry [1] Group 1: Company Performance - Yuchai Shipbuilding's main business is the production of marine low-speed engines [1] - In the first half of 2025, Yuchai Shipbuilding achieved a revenue of 729 million yuan and a net profit of 151 million yuan [1]

Core Viewpoint - The company, Shiyong Zhaoye, has confirmed its involvement in the marine equipment sector through its stake in Yuchai Marine Power Co., Ltd, which produces marine low-speed engines, a critical component of marine equipment [1] Company Summary - The company has a stake in Yuchai Marine Power Co., Ltd, which manufactures marine low-speed engines [1] - The marine low-speed engines produced by Yuchai are considered an important part of marine equipment and belong to the core subsystem of this industry [1] - Currently, the company does not have any other layouts or applications in the marine engineering equipment field [1]