证券代码：002046 证券简称：国机精工 公告编号：2026-001 国机精工集团股份有限公司 第八届董事会第十五次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、 完整，没有虚假记载、误导性陈述或重大遗漏。 一、董事会会议召开情况 公司第八届董事会第十五次会议于 2025 年 12 月 26 日发出通知， 2025 年 12 月 31 日以通讯方式召开。本次会议应出席董事 8 名，实 际出席董事 8 名。 本次会议的召开符合有关法律、行政法规、部门规章、规范性文 件和公司章程的规定。 二、董事会会议审议情况 表决结果：8 票同意、0 票反对、0 票弃权。 该议案在提交董事会前，已经公司第八届董事会战略与投资委员 会 2025 年第四次会议审议通过并获全票同意。 2.审议通过了《关于国机金刚石投资实施 RVD 金刚石产业化项目 的议案》 公司持有67%股权的控股子公司国机金刚石(河南)有限公司拟在 新疆哈密投资建设 RVD 金刚石产业化二期项目，项目总投资 19,450 万元，建设周期 19 个月，项目建成达产后可实现营业收入 1.1 亿元， 利润总额 1800 万元。 表决结果：8 票同 ...

Core Viewpoint - The continuous decline in the number of shareholders in 986 companies indicates a trend of increasing concentration of shares, with some companies experiencing a significant drop in shareholder numbers over multiple periods [1][2]. Group 1: Shareholder Trends - 200 companies have reported a continuous decrease in shareholder numbers for more than three periods, with some like ST Renzi and Yihau New Materials seeing declines for up to 15 periods [1]. - ST Renzi has the latest shareholder count of 41,786, reflecting a cumulative decrease of 25.41%, while Yihau New Materials has 14,402 shareholders, down 37.94% over 12 periods [1]. - Other companies with notable declines include *ST Huike, Zhukebo Design, and Kute Intelligent, indicating a broader trend across various sectors [1]. Group 2: Market Performance - Among the companies with declining shareholder numbers, 54 have seen their stock prices rise, while 145 have experienced declines, with notable gainers including Guojijiangong (up 54.38%), Shibao Detection (up 51.95%), and Quanyin High-Tech (up 31.53%) [2]. - 53 companies, or 26.50%, outperformed the Shanghai Composite Index during this period, with Guojijiangong, Shibao Detection, and Quanyin High-Tech showing significant excess returns of 55.62%, 51.59%, and 32.77%, respectively [2]. Group 3: Industry Distribution - The industries with the highest concentration of companies experiencing declining shareholder numbers include basic chemicals (26 companies), machinery and equipment (22 companies), and pharmaceutical biology (18 companies) [2]. - The main board has 121 companies with declining shareholder numbers, while the ChiNext board has 79 [2]. Group 4: Institutional Activity - In the past month, 23 companies with declining shareholder numbers have been investigated by institutions, with Shengda Resources, Guojijiangong, and Shenzhen Huqiang receiving the most attention, being surveyed 6, 4, and 3 times, respectively [2]. - The companies with the highest number of institutional participants include Shengda Resources (47 institutions), Baowu Magnesium (20 institutions), and Guojijiangong (17 institutions) [2].

Market Performance - The general equipment sector increased by 0.68% on December 31, with Jinwo Co., Ltd. leading the gains [1] - The Shanghai Composite Index closed at 3968.84, up 0.09%, while the Shenzhen Component Index closed at 13525.02, down 0.58% [1] Top Gainers - Jinwo Co., Ltd. (300984) closed at 84.88, up 10.49% with a trading volume of 106,800 shares and a transaction value of 877 million [1] - Tailong Co., Ltd. (002347) closed at 12.38, up 10.04% with a trading volume of 405,500 shares and a transaction value of 496 million [1] - Baida Precision (603331) closed at 14.25, up 10.04% with a trading volume of 197,400 shares and a transaction value of 273 million [1] - Lushin Investment (600783) closed at 24.73, up 10.01% with a trading volume of 1,213,600 shares and a transaction value of 2.948 billion [1] Top Losers - Fengguang Precision (920510) closed at 21.01, down 10.52% with a trading volume of 119,700 shares and a transaction value of 266 million [2] - Chuanrun Co., Ltd. (002272) closed at 16.35, down 9.92% with a trading volume of 1,318,700 shares and a transaction value of 223 million [2] - Hongsheng Co., Ltd. (603090) closed at 55.45, down 6.78% with a trading volume of 77,600 shares and a transaction value of 435 million [2] Capital Flow - The general equipment sector experienced a net outflow of 644 million from institutional investors and 601 million from retail investors, while retail investors had a net inflow of 1.244 billion [2][3] - Notable net inflows from retail investors were observed in companies like Lio Co., Ltd. (002131) with a net inflow of 23 million [3] - Significant net outflows from institutional investors were noted in companies like Tailong Co., Ltd. (002347) with a net outflow of 515 million [3]

Investment Rating - The report maintains a "Recommended" investment rating for the humanoid robot industry, indicating that the industry index is expected to outperform the benchmark index by more than 10% [8]. Core Insights - The humanoid robot concept index increased by 4.61% from December 21 to December 26, 2025, outperforming the CSI 300 index by 2.66 percentage points. Year-to-date, the humanoid robot index has risen by 73.16%, surpassing the CSI 300 index by 51.25 percentage points [3][13]. - UBTECH has secured a project worth approximately 59.62 million yuan for the Huizhou Huizhong District humanoid robot data collection center, contributing to a total order amount of nearly 1.4 billion yuan for 2025 [6][23]. - The humanoid robot industry is witnessing significant advancements, including the launch of the 1000th industrial humanoid robot Walker S2 by UBTECH, marking a major milestone in production capacity [4][22]. Weekly Market Review - The humanoid robot index outperformed the CSI 300 index during the week, with notable stock performances including Andar Intelligent, which saw a weekly increase of 43.82%, while Lianchuang Electronics experienced a decline of 5.26% [3][18]. - The report highlights the strong performance of the humanoid robot sector, with a focus on key companies and their recent developments [5][6]. Weekly Hotspots Policy Developments - The Chinese Ministry of Foreign Affairs emphasized China's leading position in humanoid robot manufacturing, citing a significant number of patents and innovations in the field [4][21]. - The establishment of the Beijing Robotics Industry Association aims to enhance industry collaboration and support for companies in the humanoid robotics sector [4][21]. Product and Technology Iteration - UBTECH's Walker S2 robot is capable of performing complex tasks and has been integrated into production lines, showcasing the practical applications of humanoid robots in industrial settings [4][22]. - The Beijing Humanoid Robot Innovation Center has released the XR-1 model, which is designed to enhance the capabilities of humanoid robots in various applications [4][22]. Investment and Financing - Yundongchu Technology has initiated Pre-IPO financing, raising several hundred million yuan, indicating strong investor interest in the humanoid robotics sector [4][23]. - Key companies are making substantial investments in humanoid robotics, with plans for new projects and product developments [5][25][26]. Key Company Announcements - WanKai New Materials has signed a contract to supply lightweight components for humanoid robot arms, indicating ongoing collaboration within the industry [5][25]. - Zhenyu Technology plans to invest 1 billion yuan in the development of humanoid robot components, reflecting the growing demand for advanced robotics solutions [5][26]. - Guoji Precision Engineering is expanding its product offerings to include high-value bearings for humanoid robots, aiming to enhance its market position [5][26].

Core Viewpoint - The continuous decline in the number of shareholders in various companies indicates a trend of increasing concentration of shares, with 188 companies experiencing a decrease for more than three consecutive periods, and some, like Yihau New Materials, seeing a drop for 12 consecutive periods [1] Group 1: Shareholder Trends - A total of 893 companies reported their latest shareholder numbers as of December 20, with 188 companies showing a continuous decline in shareholder numbers for over three periods [1] - Yihau New Materials has the lowest number of shareholders at 14,402, with a cumulative decrease of 37.94% over 12 periods [1] - Other companies with significant declines include Zhukebo Design, which has seen a 27.40% drop over 11 periods, and Kute Intelligent, Dadongnan, and Far East Transmission also showing notable decreases [1] Group 2: Market Performance - Among the companies with declining shareholder numbers, 46 have seen their stock prices rise, while 142 have experienced declines, with notable gainers including Shibu Detection (up 54.90%), Guojijiangong (up 52.63%), and Quanyin High-Tech (up 30.86%) [2] - 49 companies outperformed the Shanghai Composite Index during this period, representing 26.06% of the declining shareholder group, with Shibu Detection, Guojijiangong, and Quanyin High-Tech showing relative returns of 54.63%, 53.95%, and 32.18% respectively [2] Group 3: Industry Distribution - The industries with the highest concentration of companies experiencing declining shareholder numbers include basic chemicals (26 companies), machinery and equipment (21 companies), and pharmaceutical biology (18 companies) [2] - The main board has 114 companies with declining shareholder numbers, while the ChiNext board has 74 [2] Group 4: Institutional Activity - In the past month, 22 companies with declining shareholder numbers have been investigated by institutions, with Shengda Resources, Guojijiangong, and Shenzhen Huqiang receiving the most attention, having been investigated 6, 4, and 3 times respectively [2] - The companies with the highest number of institutional participants in their investigations are Shengda Resources (47 institutions), Guojijiangong (17 institutions), and Xinkai Technology (17 institutions) [2]

Core Viewpoint - The continuous decline in the number of shareholders for many companies indicates a trend of increasing concentration of shares, with 772 companies reporting their latest shareholder numbers as of December 20, and 174 companies experiencing a decline for three consecutive periods or more [1]. Group 1: Shareholder Trends - 174 companies have seen their shareholder numbers decrease for three consecutive periods or more, with some like Yihau New Materials experiencing a decline for 12 consecutive periods, resulting in a cumulative decrease of 37.94% [1]. - Other companies with significant declines include Zhuhua Design, which has seen a 27.40% drop over 11 periods, and Kute Intelligent, Dadongnan, and Far East Transmission also showing notable decreases [1]. - The latest data shows that companies like Hewei Electric, Guoji Precision, and Dalian Heavy Industry have experienced declines of 15.15%, 13.33%, and 11.90% in their shareholder numbers, respectively [1]. Group 2: Market Performance - Among the companies with declining shareholder numbers, 47 have seen their stock prices rise, while 127 have experienced declines, with notable increases for Guoji Precision (59.28%), Shibao Detection (58.76%), and Quanyin High-Tech (30.29%) [2]. - 44 companies, representing 25.29%, have outperformed the Shanghai Composite Index during this period, with Guoji Precision, Shibao Detection, and Quanyin High-Tech achieving relative returns of 60.75%, 58.63%, and 31.76%, respectively [2]. - The industries with the highest concentration of companies experiencing declining shareholder numbers include basic chemicals, machinery equipment, and pharmaceutical biology, with 24, 18, and 16 companies, respectively [2]. Group 3: Institutional Interest - In the past month, 26 companies with declining shareholder numbers have been subject to institutional research, with Guoji Precision, Shengda Resources, and Baowu Magnesium receiving the most attention, being researched 6, 5, and 3 times, respectively [2]. - The companies with the highest number of institutional participants in research include Yahua Group, Xingfa Group, and Igor, with 61, 46, and 46 institutions involved [2].

Core Viewpoint - Guokong Precision Engineering's subsidiary, the Axle Research Institute, is a leading manufacturer of special bearings for aerospace, aviation, naval, and nuclear industries in China, achieving a domestic leading technical level with a key product matching rate of approximately 90% in the aerospace sector [1] Group 1 - The company has successfully completed significant milestones in China's space development history, including projects like "Dongfanghong," "Changzheng," "Shenzhou," "Chang'e," and "Tianwen" [1] - Since 2023, the company has started generating revenue from heat dissipation and optical windows, with expectations to exceed 10 million yuan by 2025 [1] - The current application areas are primarily in non-civilian sectors, while civilian applications are in the testing phase with leading domestic manufacturers, indicating potential breakthroughs in the future [1] Group 2 - The company is viewed positively for its long-term development in aerospace special bearings and diamond functional applications, receiving an initial "Buy" rating [1]

Core Viewpoint - The A-share market showed a narrow fluctuation in the morning and rebounded in the afternoon, with significant gains across major indices, indicating a positive market sentiment and strong sector performance, particularly in commercial aerospace and computing hardware [1] Sector Movements - The commercial aerospace sector experienced a notable surge, with over 20 stocks hitting the daily limit, including Shenjian Co. with five consecutive limit-ups and Guoji Precision Engineering with three limit-ups in four days [1][7] - The computing hardware sector also saw a rise, with Huanxu Electronics achieving three limit-ups in six days and Yintang Intelligent Control hitting the limit [1][8] - The Fujian sector strengthened, highlighted by Anji Food with four limit-ups in seven days and Hexing Packaging with three consecutive limit-ups [1][8] - The PCB sector quickly escalated, with Shengyi Technology hitting the limit and reaching a historical high [1] Limit-Up Analysis - A total of 75 stocks hit the limit today, with 14 stocks achieving consecutive limit-ups, and a limit-up rate of 78% (excluding ST and delisted stocks) [1][4] - Key stocks in the commercial aerospace sector include: - Shenjian Co. (5 limit-ups) [7] - Guoji Precision Engineering (3 limit-ups in 4 days) [7] - Zai Sheng Technology (1 limit-up, supplier for SpaceX) [7] - Other notable stocks include: - Anji Food (10 limit-ups in 17 days) [8] - Hexing Packaging (3 limit-ups) [8] Related Hotspots - Recent developments in the commercial aerospace sector include the completion of the IPO guidance for Blue Arrow Aerospace, indicating a significant step in its capital market journey [8] - The successful first flight of the Long March 12A rocket on December 23, which aimed to achieve secondary orbit insertion, although the primary rocket recovery did not meet expectations, providing valuable data for future technology iterations [8]

Group 1: Commercial Aerospace - The commercial aerospace sector relies heavily on low-cost, high-frequency launch capabilities, with reusable rockets being a key factor [4] - China's recoverable rocket technology has entered the engineering verification stage, with multiple rocket types expected to enter the initial commercialization phase in the next three years [4] - The market for commercial aerospace in China is projected to reach 10 trillion yuan by 2030, with companies like Chaojie Co. already achieving bulk deliveries of rocket components [5][12] Group 2: Key Companies in Aerospace - Xinjing Energy is expanding its capabilities in the commercial aerospace sector by enhancing its supply of key materials like liquid oxygen and liquid hydrogen, aiming to become a new growth engine for its business [13][14] - Guojijiang Precision Engineering is a monopolist in aerospace special bearings, with nearly 100% market share, and is expanding into high-growth sectors like wind power bearings [11][12] - Aerospace Development Co. is leveraging its core electronic information technology to create a closed industrial chain from satellite development to data applications, aiming to become a leading player in aerospace defense electronics [16] Group 3: Market Reactions - Chaojie Co. experienced a 20% increase in stock price following positive news about its order fulfillment and market potential [5] - Guojijiang Precision Engineering and Xinjing Energy both saw their stock prices hit the daily limit up, reflecting strong market confidence in their growth prospects [11][14] - The stock prices of companies like Xinjing Energy and Aerospace Development Co. surged significantly, indicating investor optimism in the commercial aerospace sector [14][16]

Market Overview - On December 24, the market experienced a significant rally, with the Shanghai Composite Index rising by 0.53%, the Shenzhen Component Index increasing by 0.88%, and the ChiNext Index up by 0.77% [1] - The total trading volume in the Shanghai and Shenzhen markets reached 1.88 trillion yuan, a decrease of 19.6 billion yuan compared to the previous trading day [1] Sector Performance - The commercial aerospace sector saw a strong performance, with over 20 stocks hitting the daily limit, including Shenjian Co. (002361) with five consecutive limit-ups and Guoji Precision (002046) achieving three limit-ups in four days [1][2] - The computing hardware concept also surged, with Huanxu Electronics (601231) recording three limit-ups in six days and Yintang Intelligent Control (300131) hitting the daily limit [1] - The PCB sector experienced rapid growth, with Shengyi Technology (600183) reaching a historical high [1] Notable Stocks - The satellite internet concept index rose over 5%, with multiple stocks, including China Satellite (600118) and Aerospace Power (600343), achieving 20% limit-ups [2] - Shenjian Co. recorded five consecutive limit-ups, while Guoji Precision and Aerospace Engineering (603698) achieved three limit-ups in four days [2] Commodity LOF Products - On December 24, international gold and silver prices reached new highs, leading to multiple commodity LOF products hitting the daily limit, including gold-themed LOF and various resource LOFs [3] - The announcement from Guotai Asset Management indicated a further limit on subscriptions for the Guotai Silver LOF, with the A share subscription limit remaining at 500 yuan and the C share limit reduced from 500 yuan to 100 yuan [3]