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正海磁材(300224):短期业绩承压 看好后续业绩拐点及长期成长价值
Xin Lang Cai Jing· 2025-08-21 00:33
Group 1 - The company reported a revenue of 3.057 billion yuan for the first half of 2025, representing a year-on-year increase of 20.42%, while the net profit attributable to shareholders was 113 million yuan, a decrease of 24.39% year-on-year [1] - In Q2 2025, the company achieved a revenue of 1.599 billion yuan, up 17.02% year-on-year and 9.58% quarter-on-quarter, with a net profit of 44 million yuan, down 39.06% year-on-year and 37.23% quarter-on-quarter [1] - The company's overseas business is expected to recover due to stable approval of export licenses and increased market acceptance of rare earth-free magnets, with a significant growth in export shipment volume by the end of the reporting period [1] Group 2 - The company continues to see steady growth in the energy-saving and new energy vehicle sectors, while also actively pursuing new applications in humanoid robots and low-altitude aircraft, with a product shipment increase of over 20% year-on-year [2] - The energy-saving and new energy vehicle market saw a shipment increase of over 30%, with a total of 2.9 million sets of motors delivered [2] - The company is optimistic about its long-term growth potential in the humanoid robot market, having developed core components that match the requirements of this sector [2] Group 3 - The company forecasts EPS of 0.35, 0.44, and 0.55 yuan for 2025-2027, with corresponding PE ratios of 53, 42, and 34 times, maintaining a "buy" rating [2]