8月27日，内蒙一机跌5.01%，截至发稿，报24.10元/股，成交25.75亿元，换手率6.16%，总市值410.13 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。 资料显示，内蒙古第一机械集团股份有限公司位于内蒙古自治区包头市青山区民主路，成立日期2000年 12月29日，上市日期2004年5月18日，公司主营业务涉及轮履装甲车辆、火炮系列军品装备、铁路车 辆、车辆零部件的研发、制造、销售及资产经营等业务。主营业务收入构成为：特种装备100.00%。 责任编辑：小浪快报 国泰中证军工ETF（512660）成立日期2016年7月26日，最新规模156.01亿。今年以来收益24.3%，同类 排名1707/4222；近一年收益57%，同类排名1417/3766；成立以来收益29.48%。 国泰中证军工ETF（512660）基金经理为艾小军。 截至发稿，艾小军累计任职时间11年230天，现任基金资产总规模1418.59亿元，任职期间最佳基金回报 200.15%， 任 ...

Investment Rating - The report assigns an "Accumulate" rating to the company, Inner Mongolia First Machinery Group Co., Ltd. (600967.SH) [5] Core Views - The company is the only main battle tank research and manufacturing base in China, driven by both domestic demand and military trade. It has established a production pattern that integrates various types of armored vehicles and artillery, making it a key player in China's defense industry [1][5] - The company's revenue and profit are under short-term pressure, but there is an upward turning point in Q1 2025, with revenue of 2.731 billion yuan, a year-on-year increase of 19.6%, and a net profit of 186 million yuan, a year-on-year increase of 11.03% [1][31] - The company is actively expanding into the military drone sector, leveraging its technological advantages in armored vehicles, which presents significant growth potential [1][11] Summary by Sections Domestic Demand - The new generation of equipment has a continuous replacement demand, and the company is expanding into the military drone field. The ZTZ-99 main battle tank has been in service for over 20 years, and the development of the fourth generation of tanks is underway [1][11] - The company expects domestic revenue to grow by 12% to 114.1 billion yuan from 2025 to 2027, with a stable increase in gross profit margin [11][39] Foreign Trade - The demand for foreign trade is expected to drive a small peak in tank exports. The company has seen significant growth in military trade, with expected sales of 4.517 billion yuan in 2025, a 64% increase from 2024 [2][11] - The VT-4 and VT-5 tanks are gaining international recognition, with orders from countries like Pakistan, Thailand, and Nigeria, indicating a strong potential for military trade orders [2][67] Profit Forecast - The company is projected to achieve revenues of 11.5 billion yuan, 13.1 billion yuan, and 14.8 billion yuan from 2025 to 2027, with corresponding net profits of 750 million yuan, 950 million yuan, and 1.2 billion yuan, reflecting growth rates of 50%, 27%, and 27% respectively [2][14]

Core Viewpoint - Inner Mongolia First Machinery Group (Inner Mongolia Yijian) has announced that its current operating conditions are normal, and there have been no significant changes in its main business activities [1] Company Summary - The company primarily engages in the research, manufacturing, and sales of wheel-track series equipment, railway vehicles, vehicle components, and products that integrate military and civilian applications [1] - Inner Mongolia Yijian operates within the manufacturing sector, specifically in the railway, shipping, aerospace, and other transportation equipment manufacturing industries [1] Industry Summary - The external market environment and industry policies have not undergone significant changes, indicating a stable operational landscape for the company [1]