2025.09.07 本文字数：2277，阅读时长大约4分钟 作者 |第一财经 魏中原 封图 |AI生成 光伏电池设备商捷佳伟创（300724.SZ）股价连创阶段新高之际，股东与高管接连不断抛出减持计划。 另外，捷佳伟创两名副总经理金晶磊、谭湘萍此次计划分别减持不超过5600股、5000股，分别拟套现 59.75万元、53.35万元。 按照最新收盘价106.7元测算，李时俊拟套现金额约3.2亿元。李时俊此次减持的股份是捷佳伟创IPO前 发行的股份及限制性股票激励计划获授的股份。根据捷佳伟创此前公告，2019年11月29日，公司以授予 价格16.23元/股，授予李时俊4.25万股，这部分股票目前收益率高达5.57倍。 记者梳理数据显示，李时俊是捷佳伟创的联合创始人，2018年8月捷佳伟创上市以来，李时俊一直位列 前十大股东，其最初持股达1367.71万股，占总股本的4.27%。2021年11月，李时俊第一次减持捷佳伟 创，此后陆续减持了好几次，较大比例的一次减持是在2022年8月10月，李时俊一口气减持308.84万 股，套现金额4.84亿元。 迄今为止，李时俊累计减持公司股票464.99万股，合计套现约6.6 ...

在前期套现逾6亿元后，股东李时俊拟再顶格减持套现约3.2亿元 光伏电池设备商捷佳伟创（300724.SZ）股价连创阶段新高之际，股东与高管接连不断抛出减持计划。 光伏设备机遇与挑战并存 截至最新收盘，捷佳伟创股价报106.7元，年内涨幅已超过70%，8月25日至今，捷佳伟创加速上涨，两 周涨幅约37%。在光伏产业"反内卷"不断加码、产业链价格企稳的背景下，作为光伏电池设备领域的头 部企业，捷佳伟创受到资金青睐并不令人意外。 然而，与股价节节攀升形成鲜明对比的是，公司股东和高管年内频频抛出减持计划。9月5日，捷佳伟创 公告，自然人股东李时俊计划在2025年9月11日至2025年12月10日期间，通过竞价交易方式减持不超过 300万股，占总股本的0.8649%，减持原因为个人资金需求。截至目前，李时俊持股数量906.97万股，占 总股本比例为2.61%。 另外，捷佳伟创两名副总经理金晶磊、谭湘萍此次计划分别减持不超过5600股、5000股，分别拟套现 59.75万元、53.35万元。 按照最新收盘价106.7元测算，李时俊拟套现金额约3.2亿元。李时俊此次减持的股份是捷佳伟创IPO前 发行的股份及限制性股票激励计 ...

Investment Rating - The investment rating for the company is "Buy" and is maintained [6]. Core Views - The company reported significant growth in revenue and profit for the first half of 2025, with revenue reaching 8.372 billion yuan, a year-on-year increase of 26.41%, and net profit attributable to shareholders of 1.83 billion yuan, up 49.26% year-on-year [2][4]. - In Q2 2025, the company achieved revenue of 4.273 billion yuan, reflecting a year-on-year growth of 5.66% and a quarter-on-quarter increase of 4.23%. The net profit for Q2 was 1.122 billion yuan, marking a year-on-year increase of 73.22% and a quarter-on-quarter rise of 58.47% [2][4]. Revenue Summary - The revenue growth in H1 2025 was primarily driven by the continuous acceptance of orders, with the revenue from process equipment and automation equipment accounting for 83% and 12% of total revenue, respectively, remaining consistent with the previous year [8]. - The domestic and overseas revenue contributions were 76% and 24%, respectively, indicating an increase in overseas market expansion [8]. Profitability Summary - The gross margin for H1 2025 was approximately 30%, a decrease of 2 percentage points year-on-year. The gross margins for process and automation equipment were around 28%, showing reasonable year-on-year changes [8]. - In Q2 2025, the gross margin improved to about 32%, with a significant quarter-on-quarter increase of 4 percentage points. The net profit margin for Q2 reached 26%, reflecting a substantial quarter-on-quarter increase of 9 percentage points [8]. Future Outlook - The company plans to strengthen its overseas market expansion by establishing subsidiaries in countries such as Japan, Singapore, and Malaysia, while also enhancing product safety certification coverage to improve competitiveness in international markets [8]. - The company aims to accelerate the mass production of new products and comprehensively layout high-efficiency technology routes, including TOPCon, HJT, XBC, perovskite, and perovskite tandem technologies, while actively exploring the semiconductor and lithium battery equipment sectors [8].