国机精工集团股份有限公司投资者关系活动记录表 编号：2026—002 | | □特定对象调研 □分析师会议 | | --- | --- | | | □媒体采访 □业绩说明会 | | 投资者关系 | □新闻发布会 □路演活动 | | 活动类别 | | | | □现场参观 电话会议 ☑ | | | □其他 | | 参与单位名称 | | | | 大和证券：罗畅、刘伟健、叶文瀚 | | 及人员姓名 | | | 时间 | 2026 年 01 月 07 日 | | 地点 | 董事会秘书办公室 | | 上市公司接待 | 董事会秘书：赵祥功 | | 人员姓名 | 投资者关系助理：汪智婷 | | | 一、公司情况介绍 | | | （一）公司概况 | | | 1.基本情况及战略定位 | | | 国机精工的历史，可追溯至 1958 年成立的洛阳轴承研究所和郑 | | | 州磨料磨具磨削研究所，2005 年在深交所上市。公司秉承国机集团"引 | | | 领机械工业发展，推动人类社会进步"的发展理念，践行"精工致远， | | | 利器善事"的企业使命与产业抱负，聚焦精密制造领域，以科技创新 | | | 驱动产业发展，提供满足国家战略需 ...

2026年1月6日，国机精工披露接待调研公告，公司于1月6日接待淡水泉（北京）投资管理有限公司、北 京城天九投资有限公司、北京恒德时代私募基金管理有限公司、北京玺悦资产管理有限公司、北信瑞丰 基金管理有限公司、博时基金管理有限公司等57家机构调研。 调研情况显示，国机精工2025年主营业务核心分为轴承业务和超硬材料业务。轴承业务包括特种轴承 （应用于航天、航空等领域，航天市占率约90％）、风电轴承（增速较快，涵盖主轴、齿轮箱及偏航变 桨轴承）和精密机床轴承（发展稳定，主要为精密机床主轴及滚珠丝杠轴承）；超硬材料业务由公司持 股67％的国机金刚石运营，核心为超硬材料磨具，服务于半导体、汽车等领域，竞争对手以国际跨国企 业为主。 公司未来业务布局重点包括商业航天轴承、人形机器人轴承、金刚石散热片和光学窗口片等，将作为第 二增长曲线主力军。除轴承外，公司还为卫星、火箭提供部分动量轮，不提供其他结构件；卫星和火箭 用轴承因工况特殊、技术壁垒高、可靠性要求高，短期内竞争相对有序，长期或加剧；机器人轴承已纳 入"十五五"业务板块规划，未来重点聚焦交叉滚子轴承等高附加值产品。 金刚石散热业务方面，其功能化应用包括散热片、光 ...

证券日报网12月23日讯国机精工（002046）在接受投资者提问时表示，2025年前三季度，公司经营业绩 稳中有升。从收入端看，实现营业收入22.96亿元，同比增加4.9亿元，同比增长27%，特种及精密轴 承、超硬材料磨具这两大核心产品合计收入同比增幅超50%，主要的贡献因素是风电轴承业务的增长。 从利润端看，前三季度，公司毛利总额7.97亿元，同比增加1.3亿元，同比增长20%；净利润2.45亿元， 同比增加3265万元，同比增长15.4%；归母净利润2.06亿元，与去年同期相比略有增长，影响归母净利 润增速的主要因素是，超硬材料业务于今年3、4月份注入国机金刚石，公司对超硬材料业务的权益从 100%降到67%，超硬材料业务创造的部分收益成为少数股权权益。 ...

Financial Performance - In the first three quarters of 2025, the company achieved operating revenue of 2.296 billion yuan, an increase of 490 million yuan, representing a year-on-year growth of 27% [2] - The total gross profit reached 797 million yuan, up by 130 million yuan, with a year-on-year increase of 20% [2] - Net profit was 245 million yuan, an increase of 32.65 million yuan, reflecting a year-on-year growth of 15.4% [2] - The attributable net profit to shareholders was 206 million yuan, showing slight growth compared to the same period last year, impacted by a reduction in equity from 100% to 67% in the superhard materials business [2] Strategic Planning - The company aims to enhance its bearing products to support China's commercial aerospace development and expand into high-value products like cross-roller bearings for humanoid robots [2][3] - In the superhard materials sector, the focus is on advancing diamond functional applications, optimizing diamond-copper composite materials, and breaking through large-size optical-grade diamond production [2][3] Diamond Heat Dissipation Business - The diamond industry is divided into structural and functional applications, with functional applications including heat sinks and optical window pieces [3] - The diamond heat dissipation sector is expected to see growth due to high heat dissipation demands driven by AI, transitioning diamond from an optional to a necessary material [3] - The company began generating revenue from heat dissipation and optical windows in 2023, with expectations to exceed 10 million yuan in 2025, primarily in non-civilian sectors [3] MPCVD Product Development - The development plan for MPCVD products includes three phases: 1. Cultivating diamond rough products (mature stage) 2. Developing diamond heat sinks, optical window pieces, and acoustic membranes (starting phase) 3. Long-term planning for semiconductor materials to replace silicon [3] - Cost reduction strategies include utilizing low-cost electricity in the Xinjiang Hami industrial park and advancing technology across the entire supply chain [3]

证券日报网12月15日讯国机精工（002046）在12月12日回答调研者提问时表示，2024年超硬磨具业务收 入5.8亿元左右，下游应用分半导体领域和非半导体(汽车、制冷、LED、工模具等)领域。其中用于半导 体领域的产品近几年增长较为显著。公司超硬材料磨具产品性能优越，具有较高的技术门槛，竞争对手 基本为国际跨国企业。 ...

Company Overview - The history of Guojijiangong dates back to the establishment of the Luoyang Bearing Research Institute and Zhengzhou Abrasives Research Institute in 1958, with the company listed on the Shenzhen Stock Exchange in 2005 [2][3] - The company focuses on precision manufacturing, driven by technological innovation, to provide key products, technologies, and services that meet national strategic needs [2][3] Business Segments and Applications - Guojijiangong operates in five major sectors: new materials, basic components, machine tools, high-end equipment, and supply chain management, with applications in aerospace, military, electronics, renewable energy, high-end machine tools, and automotive industries [2][3] - The company has achieved over 2,400 research results and has established 42 national and provincial-level innovation platforms [3] Financial Performance - In the first three quarters of 2025, the company reported a revenue of CNY 2.296 billion, a year-on-year increase of 27% [4] - Gross profit totaled CNY 797 million, up 20% year-on-year, while net profit reached CNY 245 million, reflecting a 15.4% increase [4] Business Highlights Bearing Business - The special bearing segment has shown steady growth, with a 90% supply rate for key aerospace projects [5][6] - Wind power bearing business has been a significant growth driver, with the company developing the first domestically produced 8 MW and 18 MW wind power bearings [5][6] Abrasives Business - The superhard materials segment continues to grow, with key products serving the semiconductor, automotive, and optical industries [6][7] - The company has made breakthroughs in diamond functional applications, which are expected to become a new source of profit [6][7] Strategic Focus - The company aims to strengthen its core business while optimizing its new business layout, focusing on traditional and emerging sectors for dual growth [8] - A comprehensive R&D system is being established to enhance innovation capabilities and drive industry advancement [8] Future Outlook - Guojijiangong plans to deepen its focus on bearings and abrasives, leveraging technological advantages to drive upgrades and breakthroughs [9] - The company aims to maintain a dividend payout ratio of no less than 40%, with a target to rank in the top 70% of listed companies for dividend payments [9][10] Investor Relations - The company emphasizes transparent governance and investor relations, aiming to build a trust system through comprehensive information disclosure and engagement activities [10][11]

| ☑ | 特定对象调研 □分析师会议 | | --- | --- | | 投资者关系 | □媒体采访 □业绩说明会 | | 活动类别 | □新闻发布会 □路演活动 | | | □现场参观 □电话会议 | | □其他 | | | 参与单位名称 | 山西证券：刘斌 | | 及人员姓名 | 洛克化学：陈睿 | | 时间 2025 | 年 12 月 8 日 | | 地点 国机精工 | 会议室 | | 上市公司接待 | 董事会秘书：赵祥功 | | 人员姓名 | 投资者关系助理：汪智婷 | | | 1.问：请简单介绍一下公司的主营业务。 | | | 答：国机精工在轴承行业和磨料磨具行业开展业务，提供满足国 | | | 家战略需求的产品、技术和服务，业务涵盖"新材料、基础零部件、 | | | 机床工具、高端装备、供应链管理与服务"五大业务板块。总体来看， | | | 目前，特种轴承以及超硬材料磨具业务是公司利润的主要来源，风电 | | | 轴承是增速最快的业务。 | | | 公司轴承业务的核心支撑力量为洛阳轴承研究所有限公司、超硬 | | 投资者关系活 | 材料及制品的核心支撑力量为郑州磨料磨具磨削研究所有限公司，这 | ...

Core Viewpoint - Guojijinggong Group Co., Ltd. is experiencing increased investor interest due to its advancements in aerospace bearings, diamond business, and superhard material tools, with multiple investor relations activities recorded in November [1] Group 1: High-End Bearing Business - The company produces high-end bearings and has a unique comprehensive research and development institution in China's bearing industry, enhancing its competitive edge [2] - In the wind power bearing sector, the company has developed the world's largest 26MW main shaft bearing and gearbox bearing, with a strong order backlog and plans to expand production capacity by the end of 2026 [2] - The company holds over 90% market share in domestic aerospace bearings, focusing on products like rocket fuel turbine pump bearings and satellite momentum wheel bearings [2] Group 2: Commercial Aerospace Development - The development of commercial aerospace is expected to provide new growth opportunities for the company's bearing business, with plans to focus on high-value products such as crossed roller bearings and thin-walled bearings [4] Group 3: Diamond Technology Applications - The diamond industry is divided into structural and functional applications, with functional applications like heat sinks and optical window pieces gaining attention [5] - The company anticipates that diamond heat sinks may be applied in chip manufacturing, currently in the early stages of industrialization, with projected revenue exceeding 10 million yuan by 2025 [5] - The company is in the testing phase for civilian applications, with expected results by 2026 if progress is favorable [5] Group 4: Superhard Material Tools - The company plans to build a dedicated superhard material tools industrial park, expected to be completed by 2027 [6] - The three main business segments are at a critical stage of "technological breakthroughs - capacity expansion - market release," with strong performance certainty in wind power bearings and significant long-term potential in humanoid robot bearings and synthetic diamonds [6]

| | 越，具有较高的技术门槛，竞争对手基本为国际跨国企业。 | | --- | --- | | | 3.问：国家出口管制政策对公司或者行业是否有影响？ | | | 答：出口管制是短期干扰因素，产业长期发展还是取决于下游需 | | | 求。 | | | 4.问：公司是否考虑热丝法制备金刚石？ | | | 答：公司从 2015 年开始就主攻做微波等离子体化学气相沉积 法， | | | 目前暂无在热丝法方面进行投入的计划。公司将密切关注金刚 石散 | | | 热方面的技术路线和技术进展，如果实践证明热丝法是生成金 刚石 | | | 散热片的较好方法，公司不排除会在此方向上积极进行布局。 | | | 5.问：高温高压法是否还会继续开发？ | | | 答：会继续开发，一是在结构化应用领域还有新的市场空间； 二 | | | 是生产工艺有改善空间。 | | 关于本次活动 | | | 是否涉及应披 | 否 | | 露重大信息的 | | | 说明 | | | 活动过程中所 | | | 使用的演示文 | | | 稿、提供的文 | 无 | | 档等附件（如 | | | 有，可作为附 | | | 件） | | 编号：2025—02 ...

Group 1: Financial Performance - In the first three quarters of 2025, the company achieved operating revenue of 2.296 billion yuan, an increase of 490 million yuan, representing a growth of 27% year-on-year. The core products, special and precision bearings, and superhard material tools, saw a revenue increase of over 50%, primarily driven by the growth in wind power bearing business [2]. - The total gross profit for the first three quarters was 797 million yuan, an increase of 130 million yuan, reflecting a year-on-year growth of 20%. The net profit reached 245 million yuan, an increase of 32.65 million yuan, corresponding to a growth of 15.4% [2]. - The attributable net profit was 206 million yuan, showing slight growth compared to the same period last year. The main factor affecting the growth rate was the reduction of the company's equity in the superhard materials business from 100% to 67%, resulting in 33% of the earnings being accounted for as minority interests [2]. Group 2: Business Development - The diamond heat dissipation business is currently in its nascent stage, with potential applications in chip manufacturing due to high heat dissipation demands driven by AI development. The company began focusing on diamond functional applications in 2015, utilizing the MPCVD method, which offers high-quality diamond plates and strong compatibility [3]. - Revenue from the diamond heat dissipation and optical window applications is expected to exceed 10 million yuan in 2025, primarily in non-civilian sectors, with civilian applications undergoing testing by leading domestic manufacturers [3]. - The superhard tools business is projected to generate approximately 580 million yuan in revenue in 2024, with significant growth in the semiconductor sector [3]. Group 3: Strategic Focus Areas - The company has integrated robot bearings into its "14th Five-Year" business plan, focusing on high-value-added products such as crossed roller bearings and thin-walled bearings [3]. - The company holds a 90% market share in the domestic aerospace bearing sector, with products used in rocket fuel turbine pump bearings and satellite components. The development of commercial aerospace is expected to create new growth opportunities [3]. - Continuous investment in R&D for wind power bearings has led to the successful development of the world's largest 26MW series main shaft bearings, with a full order book and high growth rates in 2025. The company is also working on expanding production capacity, expected to be operational by the end of 2026 [3].