截至发稿，江博文累计任职时间1年171天，现任基金资产总规模3.87亿元，任职期间最佳基金回报 37.94%， 任职期间最差基金回报6.42%。 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 数据显示，长安基金旗下1只基金重仓融捷股份。长安鑫禧混合A（005477）三季度减持25万股，持有 股数26.3万股，占基金净值比例为3.95%，位居第四大重仓股。根据测算，今日浮盈赚取约69.43万元。 长安鑫禧混合A（005477）成立日期2018年2月7日，最新规模6439.17万。今年以来收益23.07%，同类 排名4027/8087；近一年收益19.5%，同类排名4381/8074；成立以来亏损55.08%。 长安鑫禧混合A（005477）基金经理为江博文。 12月26日，融捷股份涨5.01%，截至发稿，报55.32元/股，成交7.53亿元，换手率5.34%，总市值143.64 亿元。 资料显示，融捷股份有限公司位于广东省广州市天河区珠江西路5号广州国 ...

12月24日，融捷股份盘中上涨2.01%，截至09:47，报53.74元/股，成交2.87亿元，换手率2.09%，总市值 139.54亿元。 融捷股份今年以来股价涨69.35%，近5个交易日涨5.79%，近20日涨0.90%，近60日涨58.20%。 今年以来融捷股份已经2次登上龙虎榜，最近一次登上龙虎榜为11月19日，当日龙虎榜净买入2.24亿 元；买入总计7.52亿元 ，占总成交额比23.69%；卖出总计5.27亿元 ，占总成交额比16.62%。 资料显示，融捷股份有限公司位于广东省广州市天河区珠江西路5号广州国际金融中心45层04-05单元， 成立日期1998年8月21日，上市日期2007年12月5日，公司主营业务涉及以新能源锂电材料产业链为主 体,主要包括锂矿采选、锂盐加工及冶炼、锂电设备制造等业务,并参股镍钴锂湿法冶炼及深加工、锂电 池正极材料等业务板块。主营业务收入构成为：锂精矿86.31%，锂电池设备12.76%，锂盐0.66%，其他 0.28%。 融捷股份所属申万行业为：有色金属-能源金属-锂。所属概念板块包括：磷酸铁锂、锂电池、中盘、融 资融券、MSCI中国等。 截至11月30日，融捷股份股 ...

12月19日，融捷股份涨5.06%，截至发稿，报51.74元/股，成交9.60亿元，换手率7.47%，总市值134.35 亿元。 南方周期优选混合发起A（021711）基金经理为鲍宇晨。 南方中证1000ETF（512100）基金经理为崔蕾。 截至发稿，崔蕾累计任职时间7年44天，现任基金资产总规模1227.6亿元，任职期间最佳基金回报 183.96%， 任职期间最差基金回报-15.93%。 从基金十大重仓股角度 数据显示，南方基金旗下1只基金重仓融捷股份。南方周期优选混合发起A（021711）三季度持有股数 3.27万股，占基金净值比例为2.68%，位居第九大重仓股。根据测算，今日浮盈赚取约8.14万元。 南方周期优选混合发起A（021711）成立日期2024年9月19日，最新规模3069.22万。今年以来收益 61.3%，同类排名476/8098；近一年收益58.13%，同类排名504/8067；成立以来收益51.2%。 资料显示，融捷股份有限公司位于广东省广州市天河区珠江西路5号广州国际金融中心45层04-05单元， 成立日期1998年8月21日，上市日期2007年12月5日，公司主营业务涉及以新能源锂 ...

Core Viewpoint - The company is experiencing a significant increase in orders and is actively working to expand its production capacity to meet future market demand for lithium battery equipment, particularly driven by the growth in the electric vehicle and energy storage markets [1] Group 1: Company Operations - The company currently has a large number of orders on hand, with production capacity utilization remaining at a high level [1] - The construction progress of the second production park in Huizhou is being accelerated to alleviate delivery pressure caused by the substantial increase in orders [1] Group 2: Market Demand - There is a clear growth in demand for lithium batteries from downstream markets, particularly in the electric vehicle and energy storage sectors [1] - The demand for lithium battery equipment is expected to continue to grow over the next 2-3 years, driven by the replacement of retired equipment and production line upgrades [1]

Core Viewpoint - The company Jin Yinhe has achieved significant milestones in its production and sales of rubidium and cesium salts, contributing to its improved financial performance and stock price increase [2][3][5]. Group 1: Product Development and Sales - Jin Yinhe's rubidium and cesium salt products have begun sales, marking a key breakthrough after nearly ten years of research and development [3]. - The company’s high-purity rubidium and cesium salt crystallization project, which is the largest of its kind globally, reached production capacity on October 18 [2][3]. - The designed production capacity for the project is 1,800 tons/year of high-purity rubidium salt and 350 tons/year of high-purity cesium salt [3]. Group 2: Financial Performance - Jin Yinhe's net profit for the third quarter reached 53.98 million yuan, a year-on-year increase of 1,593.75%, marking the highest quarterly profit since its listing in 2017 [2][6]. - For the first three quarters of 2025, the company reported a total revenue of 1.371 billion yuan, a year-on-year growth of 7.33% [5]. - The stock price of Jin Yinhe has surged by 176.11% from 18.5 yuan per share at the beginning of 2025 to 51.08 yuan per share by November 27 [2][6]. Group 3: Research and Development Investment - Since its listing in 2017, Jin Yinhe has steadily increased its R&D investment, with total expenditures reaching 510 million yuan [4]. - In 2023, the company's R&D expenses exceeded 100 million yuan for the first time, amounting to 110 million yuan [4].

Core Insights - Rongjie Co., Ltd. has seen a stock price increase of 73.44% year-to-date, but has recently experienced a decline of 12.99% over the past five trading days [2] - The company specializes in the lithium battery materials industry, with a primary focus on lithium mining, lithium salt processing, and lithium battery equipment manufacturing [2] - As of October 31, the number of shareholders increased to 52,000, with an average of 4,983 circulating shares per person [3] Financial Performance - For the period from January to September 2025, Rongjie Co., Ltd. reported revenue of 510 million yuan, representing a year-on-year growth of 26.21%, while net profit attributable to shareholders decreased by 21.22% to 144 million yuan [3] - The company has distributed a total of 495 million yuan in dividends since its A-share listing, with 375 million yuan distributed over the past three years [4] Market Activity - As of November 26, the stock price was 55.04 yuan per share, with a trading volume of 1.164 billion yuan and a turnover rate of 8.31% [1] - The stock has appeared on the "Dragon and Tiger List" twice this year, with the most recent net purchase of 224 million yuan on November 19 [2] Shareholder Composition - As of September 30, 2025, the second-largest circulating shareholder is Hong Kong Central Clearing Limited, holding 5.2546 million shares, an increase of 1.6942 million shares from the previous period [4] - Several ETFs are among the top ten circulating shareholders, with notable changes in their holdings [4]

Key Points - The mechanical sector has seen a significant increase of 30.12% as of November 20, 2025, outperforming the CSI 300 index by 14.11 percentage points, ranking 6th among 30 sectors [5][14]. - The lithium battery equipment, basic components, and semiconductor equipment sub-sectors have shown strong growth, with increases of 103.2%, 58.93%, and 48.05% respectively [5][14]. - The report maintains a "stronger than market" investment rating for the mechanical industry, highlighting a new investment cycle and growth opportunities [5][6]. Mechanical Sector Performance - As of November 20, 2025, the mechanical sector's price-to-earnings ratio stands at 36.1, placing it in the 70.5 percentile of its 10-year historical range, indicating a higher valuation compared to historical averages [19][20]. - Among 632 listed companies in the mechanical sector, 549 have seen stock price increases in 2025, with a median increase of 30.23% [21][24]. New Recovery Cycle: Traditional Machinery Upgrading - The engineering machinery sector is entering a new equipment renewal cycle starting in 2025, driven by the aging of existing equipment and export expansion [25][28]. - Major products in the engineering machinery sector, such as excavators and loaders, have shown positive sales growth, with excavator sales reaching 192,135 units in the first ten months of 2025, a 17% year-on-year increase [28][29]. - The internationalization of engineering machinery is accelerating, with exports becoming a significant growth driver, as evidenced by excavator exports accounting for 53.21% of total sales in October 2025 [40][43]. New Technology Growth: Emerging Industries - The humanoid robot sector is experiencing a recovery, with mass production expected to drive significant market expansion [7][20]. - The AIDC (Automatic Identification and Data Capture) equipment sector is poised for rapid growth, benefiting from the fast development of the artificial intelligence industry [9][27]. - The lithium battery equipment sector is witnessing a rebound, with leading companies like Xian Dao Intelligent expected to benefit from the growing demand for solid-state battery equipment [9][35]. Investment Ratings and Key Targets - The report recommends key companies in the engineering machinery sector, including SANY Heavy Industry and XCMG, as primary investment targets due to their strong performance and growth potential [5][54]. - The focus on core components such as pumps, valves, and hydraulic cylinders is also emphasized as part of the investment strategy [54].

Core Viewpoint - Rongjie Co., Ltd. has experienced a significant stock price increase of 48.45% year-to-date, indicating strong market performance in the lithium battery materials sector [2] Company Overview - Rongjie Co., Ltd. is located in Guangzhou, Guangdong Province, and was established on August 21, 1998, with its stock listed on December 5, 2007 [2] - The company primarily operates in the new energy lithium battery materials industry, including lithium mining, lithium salt processing, and lithium battery equipment manufacturing [2] - The revenue composition of the company is as follows: lithium concentrate 86.31%, lithium battery equipment 12.76%, lithium salt 0.66%, and others 0.28% [2] Stock Performance - As of November 12, the stock price of Rongjie Co., Ltd. was 47.11 CNY per share, with a market capitalization of 12.232 billion CNY [1] - The stock has seen a recent decline of 3.13% in intraday trading, with a trading volume of 71.16 million CNY and a turnover rate of 0.58% [1] - Over the past five trading days, the stock has increased by 3.09%, 17.13% over the past 20 days, and 25.96% over the past 60 days [2] Financial Performance - For the period from January to September 2025, Rongjie Co., Ltd. achieved a revenue of 510 million CNY, representing a year-on-year growth of 26.21% [2] - The net profit attributable to shareholders was 144 million CNY, showing a year-on-year decrease of 21.22% [2] Shareholder Information - As of September 30, 2025, the number of shareholders was 50,400, a decrease of 4.16% from the previous period [2] - The average number of circulating shares per shareholder increased by 4.34% to 5,139 shares [2] - The top circulating shareholder is Hong Kong Central Clearing Limited, holding 5.2546 million shares, an increase of 1.6942 million shares from the previous period [3]

Core Viewpoint - Rongjie Co., Ltd. has seen a stock price increase of 5.26% on November 10, reaching 50.80 CNY per share, with a total market capitalization of 13.19 billion CNY, indicating a positive market sentiment towards the company [1] Company Overview - Rongjie Co., Ltd. is based in Guangzhou, Guangdong Province, and was established on August 21, 1998, with its listing date on December 5, 2007 [1] - The company primarily operates in the new energy lithium battery materials industry, which includes lithium ore mining, lithium salt processing and smelting, and lithium battery equipment manufacturing [1] - The revenue composition of the company is as follows: lithium concentrate 86.31%, lithium battery equipment 12.76%, lithium salt 0.66%, and others 0.28% [1] Fund Holdings - E Fund has one fund that heavily invests in Rongjie Co., Ltd., specifically the E Fund Yibai Smart Quantitative Strategy Mixed A (005437), which held 54,900 shares in the third quarter, accounting for 0.4% of the fund's net value [2] - The fund has generated a floating profit of approximately 139,400 CNY today, with a total floating profit of 86,200 CNY during the three-day stock price increase [2] - The E Fund Yibai Smart Quantitative Strategy Mixed A was established on January 24, 2018, and has a current scale of 303 million CNY, with a year-to-date return of 46.9% [2]

Group 1 - The core point of the news is that Rongjie Co., Ltd. experienced a decline of 5.01% in its stock price, reaching 44.79 yuan per share, with a trading volume of 563 million yuan and a turnover rate of 4.73%, resulting in a total market capitalization of 11.63 billion yuan [1] - Rongjie Co., Ltd. is primarily engaged in the new energy lithium battery materials industry chain, which includes lithium ore mining, lithium salt processing and smelting, and lithium battery equipment manufacturing. The main revenue composition is as follows: lithium concentrate 86.31%, lithium battery equipment 12.76%, lithium salt 0.66%, and others 0.28% [1] Group 2 - From the perspective of the top ten circulating shareholders of Rongjie Co., Ltd., a fund under GF Fund ranks among the top ten shareholders. The GF CSI 1000 ETF (560010) entered the top ten circulating shareholders in the third quarter, holding 875,800 shares, accounting for 0.34% of the circulating shares, with an estimated floating loss of approximately 2.07 million yuan today [2] - The GF CSI 1000 ETF (560010) was established on July 28, 2022, with a latest scale of 35.30 billion yuan. Year-to-date return is 27.92%, ranking 2041 out of 4216 in its category; the one-year return is 28.6%, ranking 1818 out of 3896; and since inception, the return is 9.41% [2]