截至2025年8月26日收盘，赢合科技股价报23.01元，较前一交易日下跌1.46%。当日成交额6.89亿元， 换手率4.67%。 赢合科技主营业务涵盖锂电设备制造及电子烟业务，是新能源产业链核心设备供应商。公司产品广泛应 用于动力电池、储能等领域，客户包括宁德时代、比亚迪等头部企业。 根据公司2025年半年报，锂电设备业务合同负债达25.25亿元，较年初增长52.72%，显示订单储备充 足。此外，公司在固态电池设备领域取得技术突破，相关设备已交付客户中试线使用。电子烟业务方 面，子公司斯科尔持续拓展海外市场，重点布局欧洲及北美。 资金方面，8月26日主力资金净流出3375.64万元，近五日累计净流出2.27亿元。 风险提示：行业竞争加剧、技术迭代风险、海外市场拓展不及预期。 ...

1)星网锐捷（002396）(西部利得基金管理有限公司参与公司特定对象调研&电话会议) 调研纪要：星网锐捷在通讯板块重点发力光通信，德明通讯深耕美国车联网市场，升腾资讯在金融行业和信创领域深耕。政府希望公司在AI方面 有亮点并提供机会，公司围绕ICT基础设施与I应用方案战略，福建省国资委有市值管理要求。德明通讯2025年上半年营收7亿多，增长较大，光通 讯与国内运营商合作，产品结构调整使毛利率上升。金融信创推进至2028年，升腾资讯将抓住市场机会。2023-2024年组织架构调整已完成，2025 年起费用影响向好，海外业务毛利增加，费用率控制较好。各板块毛利率可能波动，I领域将继续保持投入。公司积极探索外延式增长机会，需企 业文化和市场目标契合。 2)兆易创新 调研纪要：兆易创新（603986）在2024年二季度各业务线增长情况良好，NOR Flash高个位数增长，利基型DRAM增长超50%，MCU接近20%，模 拟芯片基数低环比成长较高，传感器芯片增长约10%。预计第三季度环比增长，全年需求上涨，利基型DRAM供应偏紧缺至全年。下半年利基型 DRAM营收显著增长，合约价格上涨，第三季度继续上涨。公司毛利率整 ...

证券之星消息，根据市场公开信息及8月25日披露的机构调研信息，长盛基金近期对4家上市公司进行了 调研，相关名单如下： 1)锐捷网络（301165）(长盛基金管理有限公司参与公司业绩说明会&电话会议) 调研纪要：锐捷网络上半年数据中心产品收入增长主要来自互联网客户，占比超过90%，400G产品占 比超60%。下半年云端算力基础设施需求依旧旺盛，互联网行业基于智算的资本开支预计继续加大。2T 规格产品主要为200G+400G组合，支持大规模GPU集群互联。Scaleup网络在国内发展迅速，公司参与 高通量以太网联盟，推出面向智算场景的产品方案。上半年海外业务收入11.45亿元，同比增长48%， 主要面向SMB市场，合作伙伴数量增长到2620家。Q2交付未受影响，Q3订单多为年初框采合同，预计 新签订单增速可能下降。国内互联网大厂对国产化无明确时间表，国产12.8T芯片可以满足大部分数据 中心场景需求。公司与国产GPU厂商有产品适配和技术交流，但商业化部署需时间。上半年费用总额同 比减少，预计全年费用同比持续下降。园区网络业务受宏观经济影响明显，2024年行业整体呈现下滑趋 势，公司层面在Q2略有复苏。数据中心产品 ...

转债代码：118042 转债简称：奥维转债 第一节重要提示 1.1 本半年度报告摘要来自半年度报告全文，为全面了解本公司的经营成果、财务状况及未来发展规 划，投资者应当到www.sse.com.cn网站仔细阅读半年度报告全文。 1.2 重大风险提示 公司已在本报告中详细阐述在经营过程中可能面临的各种风险及应对措施，敬请查阅本报告第三 节、"管理层讨论与分析"中"四、风险因素"相关的内容。 1.3 本公司董事会及董事、高级管理人员保证半年度报告内容的真实性、准确性、完整性，不存在虚假 记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 1.4 公司全体董事出席董事会会议。 1.5 本半年度报告未经审计。 1.6 董事会决议通过的本报告期利润分配预案或公积金转增股本预案 公司拟以本次董事会通知之日（2025年8月15日）的总股本315,637,856股为基数，向全体股东每10股派 发现金红利人民币5元（含税），合计拟派发现金红利人民币157,818,928元；本次不送红股,不进行资本 公积金转增股本。 在实施权益分派的股权登记日前，因可转债转股、回购股份、股权激励授予股份回购注销、重大资产重 组股份回购注销 ...

华自科技8月25日在互动平台表示，公司正聚焦核心业务攻坚，今年在大力拓展国际市场，也在加快抢 占新一轮锂电设备迭代更新的市场份额，公司目前在手订单充足，新增订单同比增加50%以上。 ...

据证券之星公开数据整理，近期中国电研（688128）发布2025年中报。截至本报告期末，公司营业总收 入23.29亿元，同比上升12.88%，归母净利润2.58亿元，同比上升31.28%。按单季度数据看，第二季度 营业总收入11.95亿元，同比上升0.54%，第二季度归母净利润1.32亿元，同比上升4.22%。本报告期中 国电研公司应收账款体量较大，当期应收账款占最新年报归母净利润比达270.66%。 本次财报公布的各项数据指标表现尚佳。其中，毛利率32.85%，同比减1.53%，净利率11.11%，同比增 16.41%，销售费用、管理费用、财务费用总计3.03亿元，三费占营收比13.0%，同比减7.8%，每股净资 产8.11元，同比增11.6%，每股经营性现金流0.65元，同比增244.15%，每股收益0.64元，同比增30.61% | 项目 | 2024年中报 | 2025年中报 | 同比增幅 | | --- | --- | --- | --- | | 营业总收入(元) | 20.63亿 | 23.29亿 | 12.88% | | 归母净利润(元) | 1.97亿 | 2.58亿 | 31.28% | | ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company has shown significant growth in its lithium battery and wiring harness businesses, with notable progress in its semiconductor operations [9] - The revenue for the first half of 2025 reached 3.2 billion yuan, representing a year-on-year increase of 32.5%, while the net profit attributable to shareholders was 580 million yuan, up 1005.1% year-on-year [9] - The semiconductor business is expected to double its revenue in 2025, with a focus on the advanced packaging market, which has a potential space exceeding 10 billion yuan [9] Financial Performance - Total revenue projections for 2023A to 2027E are as follows: 525.19 million yuan (2023A), 584.55 million yuan (2024A), 784.99 million yuan (2025E), 1,206.07 million yuan (2026E), and 1,807.81 million yuan (2027E) [1] - The net profit attributable to shareholders is projected to grow from 66.54 million yuan in 2023A to 503.04 million yuan in 2027E, with a year-on-year growth rate of 76% in 2025E [1] - The latest diluted EPS is expected to increase from 0.57 yuan in 2023A to 4.35 yuan in 2027E [1] Business Segments - The lithium battery segment is experiencing high demand, with expected revenue growth of over 50% for consumables and a 30% increase in equipment revenue [9] - The wiring harness segment is projected to double its revenue to 1.6 billion yuan [9] - The semiconductor segment is anticipated to secure around 200 million yuan in orders, with significant growth expected in the coming years [9] Cost and Efficiency - The company has seen a decrease in expense ratios, with the expense ratio for the first half of 2025 at 45.8%, down 9.4 percentage points year-on-year [9] - Operating cash flow for the first half of 2025 was 20 million yuan, showing significant improvement [9]

Core Points - The China Securities New Energy Vehicle Industry Index rose by 2.22% to 2233.36 points, with a trading volume of 56.581 billion yuan [1] - The index has increased by 6.73% over the past month, 6.70% over the past three months, and 12.35% year-to-date [1] - The index includes 50 listed companies involved in various aspects of the new energy vehicle industry, reflecting the overall performance of leading companies in this sector [1] Index Composition - The top ten weighted companies in the index are: CATL (10.04%), Huichuan Technology (9.23%), BYD (8.03%), Changan Automobile (4.73%), Sanhua Intelligent Control (4.71%), Huayou Cobalt (4.44%), EVE Energy (4.23%), Tianqi Lithium (3.34%), Ganfeng Lithium (3.23%), and Gree Environmental (2.53%) [1] - The index is primarily composed of companies listed on the Shenzhen Stock Exchange (83.86%) and the Shanghai Stock Exchange (16.14%) [1] Industry Breakdown - The industry composition of the index shows that 58.17% is in the industrial sector, 22.85% in consumer discretionary, 17.81% in materials, and 1.17% in information technology [2] - The index samples are adjusted biannually, with adjustments occurring on the next trading day after the second Friday of June and December [2] - Public funds tracking the new energy vehicle sector include several ETFs from Ping An and Huatai-PineBridge [2]

Group 1 - The core viewpoint of the article highlights that Xianhui Technology has signed a contract with CATL and its subsidiaries, amounting to approximately 702 million yuan (excluding tax) [1][2] - The order is expected to positively impact the company's performance in the fiscal years 2025 to 2026, enhancing its profitability and core competitiveness [2]

Investment Rating - The industry investment rating is "Overweight" [3][23]. Core Insights - The report highlights a significant acceleration in the commercialization of humanoid robots, particularly in industrial automation and healthcare, with multiple successful case studies demonstrating real commercial value [9][10]. - The humanoid robot industry is expected to see a cumulative global demand of approximately 2 million units by 2030, indicating a critical breakthrough phase from 0 to 1 [6][19]. - Key trends identified include the shift from demonstration to practical application, technological breakthroughs in motion control and dexterous hands, and a clear industry direction towards embodied intelligence and multi-scenario penetration over the next 3-5 years [9][18]. Summary by Sections Humanoid Robots - The report emphasizes the importance of tracking the humanoid robot sector, noting that the number of robot manufacturers has doubled, and there is an increase in core component suppliers [5][9]. - Key players in the humanoid robot supply chain include Tier 1 suppliers and core component manufacturers such as Sanhua Electric, Zhejiang Rongtai, and Beite Technology [6][19]. Photovoltaic Equipment - The report indicates that the penetration rate of N-type photovoltaic technology is accelerating, enhancing the competitiveness of leading companies [20]. - It suggests focusing on companies like Maiwei and Jiejia Weichuang, which have strong technological innovation and customer bases [20]. Energy Storage - The energy storage sector is poised for growth due to favorable policies and increasing demand from both generation and user sides [20]. - Companies like Xingyun and Kexin New Energy are highlighted as key players benefiting from this trend [20]. Semiconductor Equipment - The semiconductor equipment market is projected to reach $140 billion by 2030, with a growing share from mainland China, although the domestic production rate remains low [21]. - The report recommends focusing on companies like Zhongwei and Beifang Huachuang, which are positioned for rapid breakthroughs in domestic substitution [21]. Automation - The automation market, particularly in industrial consumables, is expected to grow from approximately 40 billion to 55.7 billion by 2026, with leading companies benefiting from increased concentration and import substitution [21]. - Key companies to watch include Huarui Precision and Oke Yi [21]. Hydrogen Energy - The report notes that green hydrogen aligns with carbon neutrality goals, with rapid developments in photovoltaic and wind energy supporting hydrogen production [20]. - Companies with integrated advantages in the green hydrogen supply chain, such as Longi Green Energy and Yihua Tong, are recommended for investment [20]. Engineering Machinery - The report suggests focusing on leading companies in the engineering machinery sector, emphasizing the strength of established players [21]. - Recommended companies include Sany Heavy Industry and Zoomlion [21].