| 600884 | 杉杉股 | 3.10 | 6.92 | 6484.36 | 4.49 | | --- | --- | --- | --- | --- | --- | | | 份 | | | | | | 000603 | 盛达资 | 9.99 | 4.57 | 4545.90 | 7.94 | | | 源 | | | | | | 605376 | 博迁新 | 3.05 | 3.89 | 4152.53 | 8.09 | | | 材 | | | | | | 601061 | 中信金 | 3.22 | 10.26 | 3514.16 | 7.37 | | | 属 | | | | | | 300919 | 中伟股 | 1.31 | 2.33 | 2783.03 | 3.49 | | | 份 | | | | | | 601618 | 中国中 | 0.59 | 0.95 | 1987.47 | 3.43 | | | 冶 | | | | | | | 寒锐钴 | | | | | | 300618 | 业 | 10.14 | 15.50 | 1883.93 | 1.02 | | 603568 | 伟明环 | 0.42 | ...

截至8月29日收盘，金属镍概念上涨1.67%，位居概念板块涨幅第10，板块内，24股上涨，盛屯矿业涨 停，蓝晓科技、湘潭电化、兴业银锡等涨幅居前，分别上涨7.01%、5.94%、4.87%。跌幅居前的有*ST 清研、ST合纵、华新环保等，分别下跌3.67%、1.88%、1.63%。 今日涨跌幅居前的概念板块 | 概念 | 今日涨跌幅（%） | 概念 | 今日涨跌幅（%） | | --- | --- | --- | --- | | 兵装重组概念 | 3.57 | 智谱AI | -2.60 | | 钠离子电池 | 2.41 | WiFi 6 | -2.59 | | 石墨电极 | 2.32 | 华为欧拉 | -2.41 | | 同花顺出海50 | 2.14 | 星闪概念 | -2.24 | | 固态电池 | 2.14 | 数字水印 | -2.15 | | 减肥药 | 1.80 | 汽车芯片 | -2.07 | | PVDF概念 | 1.74 | F5G概念 | -2.03 | | 金属钴 | 1.70 | 电子纸 | -2.00 | | 盐湖提锂 | 1.69 | 国资云 | -1.97 | | 金属镍 | 1.6 ...

正极材料前驱体产品。图源：中伟股份招股书 本报（chinatimes.net.cn）记者胡雅文 北京报道 中伟股份（300919.SZ）近日发布2025年半年报，上半年镍、钴、磷、钠四系产品销售量超过18.8万 吨，同比增长33.91%。营业收入为213.23亿元，同比增长6.16%；归母净利润为7.33亿元，同比下降 15.2%。 中伟股份是三元前驱体龙头企业。前驱体是生产正极材料过程中的"半成品"，它与锂盐发生化学反应可 以制成正极材料，在生产过程中属于中间产物，因此被叫做前驱体。如今，越做越大的中伟股份正面临 盈利能力下降的问题。2025年上半年，它的毛利率从去年同期的12.77%下降至12.1%，下降了0.67个百 分点。中伟股份的镍系、钴系前驱体的毛利率一直较为可观，但随着三元电池市场增速受限，上半年电 池材料业务营收同比下降。同时，营收增长主力——新能源金属业务的毛利率却仅有7.44%，拖累了整 体毛利率表现。8月19日，《华夏时报》记者已就相关问题致函中伟股份，截至发稿未得回复。 今年前7个月，8系三元前驱体的均价为87642元/吨，同比下降0.8%。上海钢联新能源事业部镍分析师白 琼告诉记者， ...

东吴证券股份有限公司曾朵红,阮巧燕,岳斯瑶,胡锦芸近期对中伟股份（300919）进行研究并发布了研究报 告《2025半年报点评：Q2四钴贡献利润弹性，三》，上调中伟股份目标价至46.0元，给予买入评级。 中伟股份 投资要点 Q2归母净利润环比提升38%，符合预期。公司25H1营收213.2亿元，同6.2%，归母净利润7.3亿元， 同-15.2%，毛利率12.1%，同-0.7pct；其中25Q2营收105.4亿元，同环比-2.4%/-2.3%，归母净利润4.3亿 元，同环比-12%/38%，毛利率12.3%，同环比0.1/0.3pct。 Q2受益于钴涨价，四钴贡献利润弹性。1H25公司镍、钴、磷、钠产品出货量18.8万吨，同比增34%，其中 我们预计三元前驱体9.6万吨、四钴1.7万吨，同比持平微增。我们预计Q2三元和四钴合计出货量6万吨+， 环比+30%，其中四钴1万吨。盈利情况看，三元前驱体1H25收入75亿，同比-15%，毛利率18%，同 比-0.3pct，基本稳定，对应均价9万左右，单吨利润0.5万。四钴1H收入14.5亿，同比+30%，毛利率26%， 同比+16pct，盈利大幅改善受益于钴涨价，我们预 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company's Q2 net profit increased by 38% quarter-on-quarter, aligning with expectations. For the first half of 2025, revenue reached 21.32 billion yuan, a year-on-year increase of 6.2%, while net profit was 730 million yuan, a year-on-year decrease of 15.2% [7] - The company benefited from rising cobalt prices, with four-cobalt contributing to profit elasticity. The total shipment volume of nickel, cobalt, phosphorus, and sodium products in the first half of 2025 was 188,000 tons, a year-on-year increase of 34% [7] - The company is expected to maintain stable profitability in the three-element precursor segment, with a projected total shipment volume of around 230,000 tons for the year, representing a year-on-year increase of 15% [7] - The company has shown strong cash flow, with operating cash flow for the first half of 2025 reaching 1.48 billion yuan, a year-on-year increase of 13.1% [7] - The profit forecast for 2025-2027 has been adjusted downwards, with expected net profits of 1.72 billion, 2.02 billion, and 2.7 billion yuan respectively, reflecting a year-on-year growth of 17%, 18%, and 33% [7] Financial Summary - Total revenue for 2023 is projected at 34.273 billion yuan, with a year-on-year growth of 12.95%. By 2027, revenue is expected to reach 68.083 billion yuan, with a growth rate of 17.89% [1][8] - The net profit attributable to the parent company for 2023 is estimated at 1.947 billion yuan, with a year-on-year increase of 26.15%. By 2027, this is expected to rise to 2.696 billion yuan, reflecting a growth of 33.15% [1][8] - The latest diluted EPS for 2023 is projected at 2.08 yuan per share, with an expected increase to 2.87 yuan per share by 2027 [1][8] - The company’s P/E ratio is expected to be 19x in 2025, decreasing to 12.16x by 2027 [1][8]