证券代码：300984 简称：金沃股份 投资者关系活 动类别 ☑特定对象调研 □分析师会议 □媒体采访 □业绩说明会 □新闻发布会 □路演活动 □现场参观 □其他 （ ） 参与单位名称 浙商证券、中信证券、银河证券、申万宏源、中信建投证券、光大证券、 平安证券、东方证券、东方财富证券、工银瑞信基金、方正证券、国金 证券、国信证券、中泰证券、国盛证券、中邮证券、东北证券、西部证 券、长城基金、凯石基金、英大基金、长江资管、中信资管、泉果基金 等机构及个人投资者（排名不分先后） 时间 2026年1月8日 13:30-16:30 地点 浙江省衢州市柯城区刘山一路1号 上市公司参与 人员姓名 董事、总经理郑立成先生，董事、董事会秘书、财务总监陈亦霏女士， 证券事务代表徐益曼女士 投资者关系活 动主要内容介 绍 Q：请介绍公司的主业情况？ A：公司的主业为轴承套圈的研发、生产和销售，主要客户为舍弗勒、 斯凯孚、恩斯克、恩梯恩、捷太格特等国际轴承企业。围绕主业：1、 公司自主研发的高精机床设备，通过提高生产效率、降低人员成本来进 行降本增效，进一步提高公司的综合竞争能力；2、公司加大对国内客 户的开拓力度，目前与人本集团 ...

每经AI快讯，金沃股份（SZ 300984，收盘价：73.2元）12月29日晚间发布公告称，公司第三届第十二 次董事会会议于2025年12月29日在公司会议室以现场结合通讯的方式召开。会议审议了《关于预计公司 2026年度日常关联交易的议案》等文件。 每经头条（nbdtoutiao）——绕开光刻机"卡脖子"，中国新型芯片问世！专访北大孙仲：支撑AI训练和 具身智能，可在28纳米及以上成熟工艺量产 （记者 王晓波） 截至发稿，金沃股份市值为90亿元。 2024年1至12月份，金沃股份的营业收入构成为：轴承套圈占比95.47%，其他业务占比4.53%。 ...

资料显示，浙江金沃精工股份有限公司位于浙江省衢州市柯城区航埠镇刘山一路1号，成立日期2011年6 月14日，上市日期2021年6月18日，公司主营业务涉及轴承套圈研发、生产、销售。主营业务收入构成 为：轴承套圈95.72%，其他4.28%。 12月29日，金沃股份涨5.04%，截至发稿，报70.28元/股，成交1.61亿元，换手率2.66%，总市值86.63亿 元。 从基金十大重仓股角度 数据显示，华夏基金旗下1只基金重仓金沃股份。华夏稳进增益一年持有混合A（017912）三季度持有 股数1300股，占基金净值比例为0.28%，位居第十大重仓股。根据测算，今日浮盈赚取约4381元。 华夏稳进增益一年持有混合A（017912）基金经理为靖博灵。 截至发稿，靖博灵累计任职时间2年52天，现任基金资产总规模122.65亿元，任职期间最佳基金回报 20.32%， 任职期间最差基金回报-0.43%。 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。 责任编辑：小浪快报 华夏稳进增益一 ...

12月22日，金沃股份涨5.49%，截至发稿，报66.50元/股，成交1.71亿元，换手率2.99%，总市值81.97亿 元。 资料显示，浙江金沃精工股份有限公司位于浙江省衢州市柯城区航埠镇刘山一路1号，成立日期2011年6 月14日，上市日期2021年6月18日，公司主营业务涉及轴承套圈研发、生产、销售。主营业务收入构成 为：轴承套圈95.72%，其他4.28%。 鹏华碳中和主题混合A（016530）基金经理为闫思倩。 截至发稿，闫思倩累计任职时间8年69天，现任基金资产总规模188.18亿元，任职期间最佳基金回报 306.25%， 任职期间最差基金回报-1.44%。 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。 责任编辑：小浪快报 从金沃股份十大流通股东角度 数据显示，鹏华基金旗下1只基金位居金沃股份十大流通股东。鹏华碳中和主题混合A（016530）三季 度减持127.63万股，持有股数365.87万股，占流通股的比例为4.14%。根据测算，今日浮盈赚取约 1265 ...

Core Viewpoint - The company has experienced fluctuations in revenue and profit margins, with a notable decline in net profit over the past three years, indicating potential challenges in maintaining competitiveness in the bearing industry [1][6]. Revenue Analysis - The company's main products are various types of bearing rings, with revenues of 1,044.36 million, 988.48 million, 1,146.46 million, and 295.99 million yuan, showing a trend of decline followed by recovery [1][6]. - The net profit attributable to the parent company has decreased consistently over the last three years, with figures of 45.28 million, 37.71 million, and 26.14 million yuan [1][6]. - The gross profit margins for the company were 12.61%, 11.49%, 12.61%, and 13.75%, which are below the industry average of comparable companies [1][6]. Gross Margin Comparison - The company's gross margin is lower than that of comparable companies such as Wuzhou Xinchun and Lixing Co., primarily due to differences in product offerings and market positioning [2][7]. - Wuzhou Xinchun has a longer industrial chain with higher product added value, leading to lower unit product costs and higher gross margins [7]. - Lixing Co. holds a leading position in the domestic precision bearing steel ball market, allowing for better pricing power and higher gross margins [7]. Trends in Gross Margin - The company's gross margin showed a trend of decline followed by an increase, influenced by factors such as new factory production and fluctuating customer demand [2][8]. - In 2023, increased manufacturing costs due to lower sales volume and accounting adjustments led to a decline in gross margin [7][8]. - In 2024, recovery in customer demand and new orders contributed to a rise in gross margin, despite a lag in price adjustments [7][8]. - By the first half of 2025, gross margins for the company and its peers showed an upward trend, indicating a potential recovery in the market [8].

Group 1 - The core viewpoint of the news is that Jinwo Co., Ltd. has seen a significant increase in its stock price, rising by 5.24% to reach 61.70 CNY per share, with a total market capitalization of 7.606 billion CNY [1] - Jinwo Co., Ltd. is primarily engaged in the research, production, and sales of bearing rings, with 95.72% of its revenue coming from this main business segment [1] - The company was established on June 14, 2011, and went public on June 18, 2021, indicating a relatively recent entry into the public market [1] Group 2 - Among the top circulating shareholders of Jinwo Co., Ltd., Penghua Fund's carbon neutrality theme mixed fund A (016530) has reduced its holdings by 1.2763 million shares, now holding 3.6587 million shares, which accounts for 4.14% of the circulating shares [2] - The Penghua carbon neutrality theme mixed fund A has achieved a year-to-date return of 78.08%, ranking 142 out of 8127 in its category, and a one-year return of 98.57%, ranking 43 out of 8059 [2] - The fund was established on May 5, 2023, and currently has a total asset size of 2.83 billion CNY [2]

Group 1 - The core viewpoint of the news indicates that Jinwo Co., Ltd. experienced a decline in stock price by 1.10% on November 21, with a trading volume of 136 million yuan and a net financing outflow of 649.34 million yuan [1] - As of November 21, the total margin balance of Jinwo Co., Ltd. is 296 million yuan, accounting for 4.17% of its market capitalization, which is above the 80th percentile of the past year, indicating a high level of financing [1] - The company has not engaged in any short selling activities on November 21, with a short selling balance of 0.00 shares, also indicating a high level of inactivity in this area [1] Group 2 - As of September 30, the number of shareholders of Jinwo Co., Ltd. increased by 8.46% to 9,346, with an average of 9,456 circulating shares per person, reflecting a growth in shareholder engagement [2] - For the period from January to September 2025, Jinwo Co., Ltd. achieved an operating income of 930 million yuan, representing a year-on-year growth of 10.56%, and a net profit attributable to shareholders of 37.34 million yuan, which is a significant increase of 74.83% year-on-year [2] - The company has distributed a total of 102 million yuan in dividends since its A-share listing, with 39.93 million yuan distributed over the past three years [3]

Investment Rating - The report maintains an "Accumulate-A" investment rating for the company [3][6] Core Views - The company's profitability is continuously recovering, and it is actively expanding production capacity [3][5] - The company achieved a revenue of 930 million yuan in the first three quarters of 2025, representing a year-on-year growth of 10.56% [3] - The net profit attributable to the parent company for the same period was 37.34 million yuan, showing a significant year-on-year increase of 74.83% [3] Financial Performance Summary - In Q3 2025, the company reported a revenue of 316 million yuan, with a year-on-year increase of 15.98% [4] - The gross profit margin for Q3 was 15.45%, up by 1.03 percentage points year-on-year [4] - The net profit margin for Q3 was 3.75%, an increase of 0.73 percentage points year-on-year [4] Market Expansion and Capacity Growth - The company is deepening its global market layout, successfully entering multiple international markets including Europe, America, and Asia [5] - The "High-speed Forging Intelligent Manufacturing Project" was completed and put into production in April 2025, while the "Bearing Ring Heat Treatment Production Line" is expected to be completed by December 2025 [5] - The company plans to raise no more than 721 million yuan through a private placement to support new production capacity and working capital [5] Emerging Business Development - The company is focusing on new product lines, particularly screw components and insulated bearing rings, with significant progress in production capacity and R&D [5] - The company has established a complete R&D system and has passed multiple quality management system certifications, enhancing product competitiveness [5] Future Earnings Forecast - The company is expected to achieve revenues of 1.33 billion yuan, 1.66 billion yuan, and 2.10 billion yuan from 2025 to 2027, with year-on-year growth rates of 15.7%, 25.3%, and 26.3% respectively [6] - The net profit attributable to the parent company is projected to reach 51 million yuan, 93 million yuan, and 172 million yuan during the same period, with year-on-year growth rates of 95.4%, 82.4%, and 85.0% respectively [6]

Group 1 - The core viewpoint of the news is that Jinwo Co., Ltd. has shown significant financial performance with a notable increase in revenue and net profit, alongside high financing activity in the stock market [1][2]. Group 2 - As of November 14, Jinwo Co., Ltd. experienced a slight stock price increase of 0.05%, with a trading volume of 114 million yuan [1]. - On the same day, the company had a financing buy-in amount of 16.56 million yuan and a financing repayment of 16.10 million yuan, resulting in a net financing buy of 453,400 yuan [1]. - The total financing and securities balance for Jinwo Co., Ltd. reached 296 million yuan, accounting for 3.95% of its circulating market value, which is above the 90th percentile level over the past year [1]. - The company has not engaged in any short selling activities on November 14, with a short selling balance of 0 yuan, indicating a high level of investor confidence [1]. Group 3 - As of September 30, the number of shareholders for Jinwo Co., Ltd. increased to 9,346, reflecting an 8.46% rise compared to the previous period [2]. - For the period from January to September 2025, the company reported a revenue of 930 million yuan, representing a year-on-year growth of 10.56%, and a net profit attributable to shareholders of 37.34 million yuan, which is a 74.83% increase year-on-year [2]. - Since its A-share listing, Jinwo Co., Ltd. has distributed a total of 102 million yuan in dividends, with 39.93 million yuan distributed over the past three years [2]. - Among the top ten circulating shareholders, Penghua Carbon Neutral Theme Mixed A (016530) is the fourth largest, holding 3.65 million shares, which is a decrease of 1.28 million shares from the previous period [2].

Core Viewpoint - Jinwo Co., Ltd. has received approval from the Shenzhen Stock Exchange for its application to issue shares to specific investors, pending final approval from the China Securities Regulatory Commission (CSRC) [1] Summary by Sections Issuance Details - The total amount to be raised from the issuance of shares is not to exceed 720.51 million yuan, with net proceeds intended for investment in three projects: the expansion of the intelligent manufacturing base for bearing rings, enhancement of forging capacity, and replenishment of working capital [1][2] - The issuance will involve no more than 35 specific investors, including qualified institutional investors such as securities investment fund management companies, securities firms, insurance institutions, trust companies, and qualified foreign institutional investors [2] Project Investment Breakdown - The investment allocation for the projects is as follows: - Intelligent manufacturing base for bearing rings: 459.60 million yuan, with 405.43 million yuan from the raised funds - Forging capacity enhancement: 140.31 million yuan, with 98.93 million yuan from the raised funds - Replenishment of working capital: 216.15 million yuan, fully funded by the raised funds - Total investment across all projects is 816.06 million yuan, with 720.51 million yuan from the issuance [2] Pricing and Shareholder Control - The pricing benchmark for the issuance will be set on the first day of the issuance period, with the price not lower than 80% of the average trading price over the 20 trading days prior to the pricing benchmark [3] - The maximum number of shares to be issued will not exceed 30% of the company's total share capital before the issuance, and the final number will be determined after CSRC approval [3] - The actual controllers of the company hold a combined 53.47% of the shares, indicating that the issuance will not change the control of the company [4]