（原标题：润邦股份(002483.SZ)：2026年以来公司在物料起重搬运装备业务领域持续取得积极进展） 格隆汇1月27日丨润邦股份(002483.SZ)近日接受特定对象调研时表示，2026年以来，公司在物料起重搬 运装备业务领域持续取得积极进展。公司已成功获取多份包括轮胎吊、门座式起重机、轨道式龙门起重 机、移动式港口起重机、装船机、造船龙门吊等产品在内的国内外订单，并与巴基斯坦卡拉奇门户码 头、印尼NPCT1 码头等达成重要合作。同时，多个海工船舶及特种运输船舶项目也在积极推进中。目 前，市场拓展工作正在大力开展，在手订单充足。 ...

格隆汇1月27日丨润邦股份(002483.SZ)近日接受特定对象调研时表示，2026年以来，公司在物料起重搬 运装备业务领域持续取得积极进展。公司已成功获取多份包括轮胎吊、门座式起重机、轨道式龙门起重 机、移动式港口起重机、装船机、造船龙门吊等产品在内的国内外订单，并与巴基斯坦卡拉奇门户码 头、印尼NPCT1 码头等达成重要合作。同时，多个海工船舶及特种运输船舶项目也在积极推进中。目 前，市场拓展工作正在大力开展，在手订单充足。 ...

调研基本情况 2026年1月22日至23日，江苏润邦重工股份有限公司（证券代码：002483，证券简称：润邦股份）在公 司全资子公司南通润邦重机有限公司接待了特定对象调研。本次调研活动类别为特定对象调研，华夏基 金、中正投资、骏耀投资等3家机构的基金经理及投资经理参与，公司副总裁兼董事会秘书谢贵兴、证 券事务代表刘聪、证券事务专员窦晓林负责接待并交流。 参与单位名称及人员姓名 华夏基金 张雪韬 中正投资 杨忠水 骏耀投资 张子钢、陈帅君 上市公司接待人员姓名 副总裁兼董事会秘书 谢贵兴 证券事务代表 刘聪 证券事务专员 窦晓林 业务进展：多领域订单充足，海工装备成增长引擎 交流中，公司透露2026年以来业务拓展成效显著。在物料起重搬运装备领域，已成功获取轮胎吊、门座 式起重机、轨道式龙门起重机等多类产品的国内外订单，与巴基斯坦卡拉奇门户码头、印尼NPCT1码 头等达成重要合作。同时，海工船舶及特种运输船舶项目推进顺利，目前在手订单充足。 润邦工业聚焦港口自动化趋势，加大轮胎吊、轨道吊、岸桥等核心产品研发，与科研院所合作取得多项 成果，已获得多个港口码头自动化设备订单及升级改造订单。随着智慧港口时代到来，公司港 ...

编号：2026001 | | √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 □其他 | | 参与单位名称 | 华夏基金 张雪韬；中正投资 杨忠水；骏耀投资 张子钢、陈 | | 及人员姓名 | 帅君 | | 时间 | 2026 年 1 月 22 日；2026 年 1 月 23 日 | | 地点 | 公司全资子公司南通润邦重机有限公司 | | 上市公司 | 副总裁兼董事会秘书 谢贵兴；证券事务代表 刘聪；证券事务 | | 接待人员姓名 | 专员 窦晓林 2026 年 1 月 22 日和 2026 年 1 月 23 日，公司分别接待了华夏 | | | 基金、中正投资和骏耀投资等机构的基金经理、投资经理的来 | | | 访并与其进行了交流。主要沟通内容如下： | | | 1、问：自进入 2026 年以来，公司业务拓展情况如何？ 答：今年以来，公司在物料起重搬运装备业务领域持续取得积 | | | 极进展。公司已成功获取多份包括轮胎吊、门座式起重机、轨 | | 投资者关系活 | 道式龙门起 ...

Core Points - The arrival of large equipment for the Yangpu International Container Terminal expansion project marks a significant step towards operational readiness [2] - The expansion project aims to enhance the terminal's container throughput capacity to 5 million TEUs annually upon completion [3] - The construction of a specialized grain and oil terminal by Guotou Yangpu Port is also underway, expected to be completed by the end of 2026, addressing logistical challenges in the region [3][4] Group 1 - The first batch of large equipment, including three quay cranes and one rubber-tired gantry crane, has arrived at the port, facilitating the subsequent production phase of the expansion project [2] - The Yangpu International Container Hub's expansion will incorporate smart technology to improve container handling efficiency and alleviate transportation pressure in the region [2][3] - The grain and oil terminal project will become the only specialized facility of its kind in Hainan, supporting the development of the health food industry and ensuring smooth logistics [3][4] Group 2 - The main construction of the terminal's 1,188-meter berth is complete, ready for docking, which will significantly enhance the port's operational capacity [3] - The grain and oil terminal will utilize advanced equipment and automated processes, aligning with the development of the "International Health Food Port" project [4] - The ongoing developments at Yangpu Port are aimed at transforming it from a general port to a specialized one, improving infrastructure and service capabilities [4]

Core Viewpoint - The report from Zhongyou Securities indicates that Huadong Heavy Machinery has experienced a significant increase in net profit attributable to the parent company in the first half of the year, driven by improved profitability and reduced expenses [1] Group 1: Financial Performance - The company's net profit attributable to the parent company for the first half of 2025 reached 362 million yuan, showing a substantial year-on-year increase [1] - Profitability has improved compared to the previous year, while expense spending has decreased [1] Group 2: Revenue Sources - Container handling equipment (port machinery) is currently the main source of revenue for the company [1] - Key products include quay cranes, rail-mounted gantry cranes, and rubber-tired gantry cranes [1] Group 3: Market Outlook - The company has a sufficient backlog of orders and is expected to benefit further from the improving shipping market and the automation and intelligent upgrades of port machinery [1] Group 4: Strategic Expansion - In October 2024, the company acquired Xiamen Ruixin Tuchip Technology Co., Ltd., expanding into GPU-based chip design and solution business [1] - Ruixin Tuchip has also won a bid and signed a framework procurement project for power control chips with Southern Power Grid, with a contract amount of approximately 19.74 million yuan, and has begun to supply [1] Group 5: Investment Rating - The report initiates coverage with an "Overweight" rating for the company [1]

Investment Rating - The report assigns an "Accumulate" rating for the company, marking its first coverage [1][7]. Core Insights - The company has shown a significant increase in its non-recurring net profit, with a year-on-year growth of 59.89% in the first half of 2025, despite a decline in overall revenue due to the divestment of its CNC machine tool business [4]. - The gross profit margin improved to 26.13%, reflecting a 24.6 basis point increase, while the net profit margin also saw a slight increase [4]. - The company is well-positioned in the container handling equipment sector, with a strong order backlog and increasing market share both domestically and internationally [5]. - The acquisition of Xiamen Ruixin Tuxin Technology Co., Ltd. is expected to drive growth in the GPU chip design and solutions business, targeting various industries [6]. Company Overview - The latest closing price is 9.19 yuan, with a total market capitalization of 9.3 billion yuan [3]. - The company has a total share capital of 1.008 billion shares, with a debt-to-asset ratio of 50.8% and a price-to-earnings ratio of 75.27 [3]. Financial Projections - Revenue projections for 2025-2027 are 11.39 billion, 14.50 billion, and 18.71 billion yuan, with expected growth rates of -3.82%, +27.34%, and +28.98% respectively [7]. - The forecasted net profit for the same period is 1.02 billion, 1.48 billion, and 2.30 billion yuan, with growth rates of -17.30%, +45.18%, and +55.66% respectively [7]. - The corresponding price-to-earnings ratios are projected to be 91.01, 62.69, and 40.27 [7].

Core Viewpoint - Huadong Heavy Machinery Co., Ltd. reported a solid performance in its core container handling equipment business, achieving a revenue of 364 million yuan and a net profit of 26.16 million yuan in the first half of 2025 [1][2] Group 1: Container Handling Equipment Business - The company focuses on container handling equipment, including quay cranes, rail-mounted gantry cranes, and rubber-tired gantry cranes, which are essential for port operations [1] - Huadong's products are utilized in major domestic ports and have been exported to various countries, enhancing its market share both domestically and internationally [1] Group 2: Chip Design and Solutions Business - In October 2024, the company acquired Xiamen Ruixin Tuxin Technology Co., Ltd. to expand its chip design and solutions business, which has begun mass supply of GPU chips targeting the domestic market [2] - The company secured a framework procurement project for power control chips with a total estimated value of approximately 19.74 million yuan [2] Group 3: Solar Business - The company's solar subsidiary has filed for bankruptcy reorganization, and as of June 30, 2025, it will no longer be included in the consolidated financial statements [2] Group 4: Overall Business Outlook - The company maintains a positive outlook for its container handling equipment business, supported by a strong order backlog and increasing market share [2] - The chip design and solutions business is positioned for growth as the importance of the domestic innovation industry rises, indicating a potential acceleration in market demand [2]

Core Viewpoint - Despite the increasing instability and uncertainty in the international trade environment, China's import and export activities have shown strong resilience and vitality, with significant growth in exports to ASEAN, the EU, and Belt and Road countries [5]. Group 1: Export Growth and Market Diversification - From January to July this year, China's exports to ASEAN, the EU, and Belt and Road countries grew by 14.8%, 8.2%, and 11.7% respectively, indicating a robust performance in international trade [5]. - Companies are actively expanding into diversified international markets, which is contributing to the resilience of foreign trade [5]. - Zhejiang Huafa Tea Co., Ltd. reported an export value of approximately 300 million yuan for tea products, with a year-on-year increase of over 40% in shipment volume [7]. Group 2: Product Quality and Innovation - The quality of products is the primary strength for Chinese foreign trade companies in expanding into diverse markets, with improvements in R&D capabilities and product structure [7]. - Hebei Yuanda Valve Group Co., Ltd. has optimized its valve products for the European market, ensuring leakage rates are well below EU standards, which has attracted environmentally conscious customers [8]. - Tianjin Kainuo Industrial Co., Ltd. has expanded its customer base by leveraging AEO certification and green channels established by customs, exporting 114 tons of various clamps to seven SCO countries this year [9]. Group 3: Utilizing Open Policies and Trade Agreements - Companies are capitalizing on open policies and trade agreements to expand their markets, such as the RCEP, which has allowed for lower tariffs and enhanced competitiveness [10]. - Jilin Bailong Craft Co., Ltd. has seen a 21.3% year-on-year increase in wood carving product exports, successfully tapping into both traditional and emerging markets [10]. - Jiangsu Runbang Industrial Equipment Co., Ltd. achieved a threefold increase in import and export volume compared to the previous year, driven by projects in Southeast Asia and Africa [11]. Group 4: Long-term Strategic Choices - Diversifying overseas markets is viewed as a necessary strategic choice for long-term business interests, rather than a last resort [13]. - Shenzhen's exports of household appliances to the EU reached 7.59 billion yuan, a year-on-year increase of 8.9%, reflecting the precise understanding of overseas demand by foreign trade companies [13]. - Fujian Province's imports and exports to Latin America surpassed 100 billion yuan, with notable transactions such as the delivery of 121 electric buses to Chile [14]. Group 5: Technological Advancements and Market Adaptation - Advances in information technology are accelerating the ability of foreign trade companies to diversify their markets [15]. - Companies like Quanzhou Tiwantans Trade Co., Ltd. have successfully increased their export share to Europe from 1.8% to 40% by utilizing AI for market analysis and product design [15]. - Alibaba International Station is enhancing its support for small and medium-sized enterprises in various markets through AI-driven tools that streamline trade processes [15].

Core Insights - Shanghai Yangshan Port has experienced continuous growth in container throughput, exceeding 14 million TEUs in the first half of the year, representing a year-on-year increase of nearly 7.3% [1] - The port's operational capacity is currently at full or over capacity for various container operating companies [1] Group 1: Infrastructure and Equipment Upgrades - A large bridge crane weighing over 2,000 tons was recently unloaded at Yangshan Port, which will enhance operational efficiency [1] - The addition of five new rubber-tired gantry cranes features significant upgrades in intelligence, remote operation, and energy efficiency, aimed at improving container transfer efficiency and increasing truck loading speed [1] - The total number of bridge cranes at the port has increased from 88 in early 2021 to 103 currently, with plans to add another crane by September [1] Group 2: Operational Efficiency - The new bridge crane is expected to increase daily operational capacity by approximately 800 TEUs, addressing the challenges posed by large vessel operations [2] - Enhanced equipment density will alleviate production workload and extend the lifespan of the machinery [2] - Safety measures have been reinforced during the unloading of the cranes, with inspections conducted by port authorities [2]