上大股份 20260226 摘要 在航空航天、燃气轮机与核工程等领域，公司具体供货方向与典型零部件环节 有哪些？ 公司通过返回料再生技术，在行业低迷期仍保持盈利，成本优势显著。 2025 年抚顺特钢亏损约 8 亿，而上大股份盈利数千万，得益于该技术 带来的低成本优势，尤其是在高温合金领域，废料回收利用降低了原材 料采购成本。 公司产品主要应用于航空航天、燃气轮机和核工程等领域，并已形成稳 定供货格局。航空领域主要面向航空发动机关键零部件，航天领域用于 火箭发动机壳体等，燃气轮机领域为"三大电器"提供配套，核工程领 域向三代、四代核反应堆提供高性能不锈钢。 公司已掌握高温返回料再生应用技术并实现产业化，通过发动机试车考 核。2011-2016 年打通高温合金生产线核心工艺路线，2017-2019 年 再生高温合金技术与产品通过航发、中航工业及军方考核，用于主力型 号发动机。 公司产品已获得国外重要客户认证，预计 2026 年开始长期批量供货。 2025 年 12 月拿到国外 2026-2030 年供货意向性协议，客户主要为飞 机发动机厂商，供货落地后有望陆续打开更多局面。 航空领域主要面向航空发动机关键零部件， ...

2月26日，上大股份涨3.71%，成交额5.91亿元。两融数据显示，当日上大股份获融资买入额7600.53万 元，融资偿还5024.33万元，融资净买入2576.20万元。截至2月26日，上大股份融资融券余额合计4.85亿 元。 融券方面，上大股份2月26日融券偿还0.00股，融券卖出1.30万股，按当日收盘价计算，卖出金额54.11 万元；融券余量1.46万股，融券余额60.77万元，超过近一年90%分位水平，处于高位。 资料显示，中航上大高温合金材料股份有限公司位于河北省清河县挥公大道16号，成立日期2007年8月 23日，上市日期2024年10月16日，公司主营业务涉及高温及高性能合金、高品质特种不锈钢等特种合金 产品的研发、生产和销售。主营业务收入构成为：高温及高性能合金52.58%，高品质特种不锈钢 44.22%，其他产品2.02%，其他(补充)1.17%。 截至9月30日，上大股份股东户数2.55万，较上期减少1.12%；人均流通股2914股，较上期增加1.13%。 2025年1月-9月，上大股份实现营业收入18.05亿元，同比减少4.10%；归母净利润7658.01万元，同比减 少38.60%。 ...

Core Viewpoint - The company, Zhonghang Shanda High-Temperature Alloy Materials Co., Ltd., is experiencing fluctuations in its stock performance and financial metrics, indicating potential investment opportunities and risks in the high-temperature alloy and special stainless steel market. Group 1: Stock Performance - On February 9, the stock price of Shanda increased by 1.73%, with a trading volume of 303 million yuan [1] - The margin trading data shows a financing buy amount of 34.28 million yuan and a financing repayment of 38.86 million yuan, resulting in a net financing buy of -4.57 million yuan [1] - As of February 9, the total margin trading balance for Shanda is 487 million yuan, which accounts for 4.40% of its circulating market value, indicating a high level compared to the past year [1] Group 2: Financial Performance - For the period from January to September 2025, Shanda reported an operating income of 1.805 billion yuan, a year-on-year decrease of 4.10% [2] - The net profit attributable to shareholders for the same period was 76.58 million yuan, reflecting a significant year-on-year decline of 38.60% [2] Group 3: Shareholder Information - As of September 30, the number of shareholders for Shanda is 25,500, which is a decrease of 1.12% compared to the previous period [2] - The average circulating shares per person increased by 1.13% to 2,914 shares [2] - The top ten circulating shareholders include various ETFs, with notable changes in holdings, such as a decrease of 115,300 shares for Guotai Zhongzheng Military Industry ETF [3]

Group 1 - The core viewpoint of the news is that Shangda Co., Ltd. has seen a significant increase in its stock price, rising by 5.32% to 41.74 CNY per share, with a total market capitalization of 15.522 billion CNY as of January 22 [1] - Shangda Co., Ltd. specializes in the research, production, and sales of high-temperature and high-performance alloys, as well as high-quality special stainless steel, with its main business revenue composition being 52.58% from high-temperature and high-performance alloys, 44.22% from high-quality special stainless steel, and 2.02% from other products [1] - The company was established on August 23, 2007, and is located in Qinghe County, Hebei Province, with its listing date set for October 16, 2024 [1] Group 2 - From the perspective of the top ten circulating shareholders, Guotai Fund's Guotai Zhongzheng Military Industry ETF (512660) reduced its holdings by 115,300 shares in the third quarter, now holding 735,400 shares, which accounts for 0.99% of the circulating shares [2] - The Guotai Zhongzheng Military Industry ETF (512660) has a current scale of 14.109 billion CNY and has achieved a year-to-date return of 7.79%, ranking 1873 out of 5542 in its category, with a one-year return of 48.43%, ranking 1356 out of 4256 [2]

Group 1 - The core point of the news is that Shangda Co., Ltd. experienced a decline of 5.07% in its stock price, reaching 40.84 CNY per share, with a trading volume of 609 million CNY and a turnover rate of 5.19%, resulting in a total market capitalization of 15.187 billion CNY [1] - Shangda Co., Ltd. specializes in the research, production, and sales of high-temperature and high-performance alloys, as well as high-quality special stainless steel, with revenue composition being 52.58% from high-temperature and high-performance alloys, 44.22% from high-quality special stainless steel, 2.02% from other products, and 1.17% from supplementary sources [1] Group 2 - Among the top ten circulating shareholders of Shangda Co., Ltd., Guotai Fund's ETF, Guotai Zhongzheng Military Industry ETF (512660), reduced its holdings by 115,300 shares, now holding 735,400 shares, which accounts for 0.99% of the circulating shares, resulting in an estimated floating loss of approximately 1.6032 million CNY [2] - The Guotai Zhongzheng Military Industry ETF (512660) has a total scale of 14.109 billion CNY, with a year-to-date return of 13.82%, ranking 381 out of 5,525 in its category, and a one-year return of 56.1%, ranking 906 out of 4,208 [2]

Group 1 - The core viewpoint of the news is that Shangda Co., Ltd. has experienced a significant stock price increase, with a 7.04% rise on January 9, reaching 44.98 yuan per share, and a cumulative increase of 8.49% over three days [1] - Shangda Co., Ltd. specializes in the research, production, and sales of high-temperature and high-performance alloys, as well as high-quality special stainless steel, with revenue composition being 52.58% from high-temperature alloys, 44.22% from special stainless steel, and 2.02% from other products [1] - The company was established on August 23, 2007, and went public on October 16, 2024, with a total market capitalization of 16.727 billion yuan [1] Group 2 - The top circulating shareholder of Shangda Co., Ltd. is the Guotai Fund, which has reduced its holdings in the Guotai Zhongzheng Military Industry ETF (512660) by 115,300 shares, now holding 735,400 shares, representing 0.99% of circulating shares [2] - The Guotai Zhongzheng Military Industry ETF has achieved a year-to-date return of 9.47% and a one-year return of 55.58%, ranking 254 out of 5509 and 949 out of 4198 respectively [2] - The fund manager of Guotai Zhongzheng Military Industry ETF, Ai Xiaojun, has a total fund asset scale of 1690.29 billion yuan and has been in the position for 12 years, with the best fund return during his tenure being 275.69% [3]

Group 1 - The core viewpoint of the news is that Shangda Co., Ltd. has seen a significant increase in its stock price, rising by 5.15% to 41.64 CNY per share, with a total market capitalization of 15.485 billion CNY as of January 8 [1] - Shangda Co., Ltd. specializes in the research, production, and sales of high-temperature and high-performance alloys, as well as high-quality special stainless steel, with its main business revenue composition being 52.58% from high-temperature alloys, 44.22% from special stainless steel, and 2.02% from other products [1] - The company was established on August 23, 2007, and is located in Qinghe County, Hebei Province, with its listing date set for October 16, 2024 [1] Group 2 - Among the top ten circulating shareholders of Shangda Co., Ltd., Guotai Fund's Guotai Zhongzheng Military Industry ETF (512660) reduced its holdings by 115,300 shares in the third quarter, now holding 735,400 shares, which accounts for 0.99% of the circulating shares [2] - The Guotai Zhongzheng Military Industry ETF (512660) has a total scale of 14.109 billion CNY and has achieved a return of 5.04% this year, ranking 1280 out of 5493 in its category [2] - The fund has a one-year return of 48.24%, ranking 1242 out of 4197, and a total return of 44.07% since its inception on July 26, 2016 [2]

Core Viewpoint - The stock of Shangda Co., Ltd. has shown significant price increases recently, with a year-to-date rise of 8.02% and a 12.74% increase over the last five trading days, indicating strong market interest and potential growth in the company's performance [1]. Financial Performance - For the period from January to September 2025, Shangda Co., Ltd. reported a revenue of 1.805 billion yuan, reflecting a year-on-year decrease of 4.10%. The net profit attributable to shareholders was 76.58 million yuan, down 38.60% compared to the previous year [2]. - Cumulative cash dividends since the company's A-share listing amount to 43.51 million yuan [3]. Shareholder and Market Activity - As of September 30, 2025, the number of shareholders for Shangda Co., Ltd. was 25,500, a decrease of 1.12% from the previous period. The average number of circulating shares per shareholder increased by 1.13% to 2,914 shares [2]. - The major shareholders include various ETFs, with notable changes in holdings. For instance, the Guotai Zhongzheng Military Industry ETF reduced its holdings by 11.53% to 735,400 shares, while the Southern Zhongzheng Shenyuan Nonferrous Metals ETF increased its holdings by 32,150 shares to 597,200 shares [3]. Company Overview - Shangda Co., Ltd., established on August 23, 2007, specializes in the research, production, and sales of high-temperature and high-performance alloys, as well as high-quality special stainless steel. The revenue composition includes 52.58% from high-temperature alloys, 44.22% from special stainless steel, and 2.02% from other products [1]. - The company operates within the non-ferrous metals sector, specifically in the new materials category, and is involved in concepts such as high-temperature alloys, nuclear fusion, nuclear power, aerospace, and military-civilian integration [1].

Core Viewpoint - The stock of Shangda Co., Ltd. experienced a decline of 2.61% on December 22, with a trading volume of 427 million yuan, indicating a significant market reaction to recent financial performance and trading activities [1]. Financing Summary - On December 22, Shangda Co., Ltd. had a financing buy-in amount of 59.21 million yuan, with a net financing purchase of 11.50 million yuan after repayments [1]. - The total financing and securities lending balance reached 312 million yuan, with the financing balance accounting for 3.26% of the circulating market value, indicating a high level of financing activity compared to the past year [1]. - The company also reported a securities lending repayment of 3,300 shares and a selling amount of 98,500 yuan, with a securities lending balance of 339,500 yuan, also at a high level compared to the past year [1]. Financial Performance - For the period from January to September 2025, Shangda Co., Ltd. achieved an operating income of 1.805 billion yuan, reflecting a year-on-year decrease of 4.10% [2]. - The net profit attributable to the parent company was 76.58 million yuan, showing a significant year-on-year decline of 38.60% [2]. Shareholder and Institutional Holdings - As of September 30, 2025, the number of shareholders for Shangda Co., Ltd. was 25,500, a decrease of 1.12% from the previous period, while the average circulating shares per person increased by 1.13% to 2,914 shares [2]. - The top institutional shareholders include Guotai CSI Military Industry ETF, which holds 735,400 shares, a decrease of 115,300 shares from the previous period, and Southern CSI 1000 ETF, holding 678,800 shares, down by 12,200 shares [3].

Core Viewpoint - The stock of Zhonghang Shanda High-Temperature Alloy Materials Co., Ltd. (上大股份) has shown a positive performance with a 1.95% increase on December 18, 2023, alongside significant trading activity in margin financing and securities lending [1] Financing Summary - On December 18, 2023, the financing buy-in amount for Zhonghang Shanda was 79.24 million yuan, while the financing repayment was 72.50 million yuan, resulting in a net financing buy of 6.74 million yuan [1] - As of December 18, 2023, the total margin financing and securities lending balance for the company was 293 million yuan, with the financing balance accounting for 3.01% of the circulating market value, indicating a high level compared to the past year [1] - The company had no shares repaid in securities lending on December 18, 2023, but sold 600 shares, amounting to 20,700 yuan at the closing price, with a securities lending balance of 376,400 yuan, also at a high level compared to the past year [1] Business Performance - For the period from January to September 2025, Zhonghang Shanda reported an operating income of 1.805 billion yuan, reflecting a year-on-year decrease of 4.10%, and a net profit attributable to shareholders of 76.58 million yuan, down 38.60% year-on-year [2] - The company's main business revenue composition includes high-temperature and high-performance alloys at 52.58%, high-quality special stainless steel at 44.22%, and other products at 3.19% [1] Shareholder Information - As of September 30, 2025, the number of shareholders for Zhonghang Shanda was 25,500, a decrease of 1.12% from the previous period, with an average of 2,914 circulating shares per person, an increase of 1.13% [2] - The top ten circulating shareholders include various ETFs, with notable changes in holdings, such as a decrease in shares held by Guotai Zhongzheng Military Industry ETF and an increase in shares held by Southern CSI Nonferrous Metals ETF [3]