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亚星锚链:一季度营收高增,漂浮式海风打开增长空间-20250509
Xinda Securities· 2025-05-09 08:23
Investment Rating - The investment rating for the company is not explicitly stated in the provided documents, but the report indicates a positive outlook based on revenue growth and market conditions [1]. Core Insights - The company achieved a revenue of 1.989 billion yuan in 2024, reflecting a year-on-year increase of 3.0%, and a net profit attributable to shareholders of 282 million yuan, up 19.2% year-on-year [3]. - In Q1 2025, the company reported a revenue of 588 million yuan, a significant increase of 31% year-on-year, although the net profit attributable to shareholders decreased by 23% to 52 million yuan [1][4]. - The company is expected to benefit from the high demand in the shipbuilding market, with orders totaling 185,300 tons in 2024, including 161,800 tons for marine anchor chains and accessories [4]. - The gross margin for Q1 2025 was reported at 27.99%, showing an improvement compared to previous periods, and the overall expense ratios were well controlled [4]. Financial Summary - The projected total revenue for the company is expected to grow from 1.931 billion yuan in 2023 to 3.112 billion yuan by 2027, with a compound annual growth rate (CAGR) of approximately 15.6% [3]. - The net profit attributable to shareholders is forecasted to increase from 237 million yuan in 2023 to 433 million yuan in 2027, with year-on-year growth rates of 58.7%, 19.2%, 10.1%, 19.6%, and 16.7% respectively [3]. - The company's gross margin is projected to remain stable around 31% over the next few years, indicating consistent profitability [3]. - The price-to-earnings (P/E) ratio is expected to decrease from 37.68 in 2023 to 20.58 by 2027, suggesting an improving valuation as earnings grow [3].
亚星锚链(601890):一季度营收高增,漂浮式海风打开增长空间
Xinda Securities· 2025-05-09 08:02
Investment Rating - The investment rating for the company is not explicitly stated in the provided documents, but the report indicates a positive outlook based on revenue growth and market conditions [1]. Core Insights - The company achieved a revenue of 1.989 billion yuan in 2024, reflecting a year-on-year increase of 3.0%, and a net profit attributable to shareholders of 282 million yuan, up 19.2% year-on-year [3][4]. - In Q1 2025, the company reported a revenue of 588 million yuan, a significant year-on-year increase of 31%, although the net profit attributable to shareholders decreased by 23% to 52 million yuan [1][4]. - The company is expected to benefit from the high demand in the shipbuilding market, with a total order intake of 185,300 tons in 2024, including 161,800 tons for marine anchor chains and accessories [4]. - The gross margin for Q1 2025 was reported at 27.99%, showing an improvement compared to previous periods, with overall expense ratios being well-controlled [4]. Financial Summary - The projected total revenue for the company is expected to grow from 2.332 billion yuan in 2025 to 3.112 billion yuan by 2027, with year-on-year growth rates of 17.3%, 15.5%, and 15.6% respectively [3]. - The net profit attributable to shareholders is forecasted to increase from 310 million yuan in 2025 to 433 million yuan in 2027, with growth rates of 10%, 20%, and 17% respectively [4]. - The company's gross margin is projected to remain stable around 31% over the next few years, indicating consistent profitability [3][4]. - The P/E ratio is expected to decrease from 28.72 in 2025 to 20.58 by 2027, suggesting a potentially more attractive valuation over time [3].
欢乐家(300997):主动求变,改革提效
Xinda Securities· 2025-05-09 07:14
公司研究 [欢Ta乐ble家_StockAndRank] (300997) 投资评级 买入 执业编号:S1500523110003 邮 箱:chenglili@cindasc.com 上次评级 买入 [程Ta丽bl丽e_A食ut品ho饮r] 料行业分析师 量贩零食渠道表现较好,贡献收入增量。2025Q1 公司实现营收 4.49 亿元,同比-18.52%。从产品来看,水果罐头收入同比-25.5%至 1.55 亿元,椰子饮料同比-14.6%至 2.28 亿元,我们认为主要系餐饮渠道较 为疲软所致。尽管传统渠道收入承压,但是公司积极开拓量贩零食渠道 业务,2025Q1 实现收入 4645 万元,平均月销达到千万级别。利润端 来看,由于部分原材料价格上涨、量贩零食渠道毛利率较低的影响,公 司 2025Q1 毛利率同比-7.32pct 至 31.38%,销售费用有一定的节省, 同比-1256 万元至 5879 万元,销售费用率同比+0.1pct 至 13.1%,综 上,2025Q1 公司归母净利润同比-58.27%至 3.43 亿元,归母净利率同 比-7.28pct 至 7.62%。 、 主动求变,改革提效。在外部环境 ...
药师帮(09885):股份回购注销以推动价值回归,业绩释放、药店经营改善或是关键催化剂
Xinda Securities· 2025-05-08 11:35
证券研究报告 公司研究 [Table_ReportType] 公司点评报告 [Table_StockAndRank] 药师帮(9885.HK) 投资评级 上次评级 [Table_Author] 唐爱金 医药行业首席分析师 执业编号:S1500523080002 邮 箱:tangaijin@cindasc.com 章钟涛 医药行业分析师 执业编号:S1500524030003 邮 箱:zhangzhongtao@cindasc.com 信达证券股份有限公司 CINDA SECURITIES CO.,LTD 北京市西城区宣武门西大街甲127号金隅大厦 B座 邮编:100031 核股份回购注销以推动价值回归,业绩释放&药店经营改善或是关键催化剂 [Table_ReportDate] 2025 年 05 月 08 日 [Table_S 事件:公司发布 ummary]股份回购计划,公司拟动用最多 1 亿港元的回购预算,以根 据 2024 年股份回购授权于 2025 年股东周年大会前不时于公开市场回购股 份。同时,公司于 2025 年 5 月 7 日回购 30 万股股份,总回购金额约 210.44 万港元(不包括佣金及其 ...
星环科技:25年Q1业绩逐渐恢复,大模型相关订单落地-20250508
Xinda Securities· 2025-05-08 10:23
证券研究报告 公司研究 [Table_ReportType] 点评报告 [Table_StockAndRank] 星环科技-U(688031.SH) 投资评级: 上次评级: [Table_A 庞倩倩 uthor计算机] 行业首席分析师 执业编号:S1500522110006 邮 箱: pangqianqian@cindasc.com 信达证券股份有限公司 CINDA SECURITIES CO.,LTD 北京市西城区宣武门西大街甲127号金隅大厦 B座 邮编:100031 [Table_Title] 25 年 Q1 业绩逐渐恢复,大模型相关订单落地 [Table_ReportDate] 2025 年 5 月 8 日 请阅读最后一页免责声明及信息披露 http://www.cindasc.com 2 [Table_S 事件:星环科技 ummary]发布 2024 年年度报告和 2025 年一季报,公司 2024 年实 现营收 3.71 亿元,同比下降 24.31%;实现归母净利润-3.43 亿元,亏损幅 度同比扩大;实现扣非净利润-3.80 亿元;2025Q1,公司实现营收 0.64 亿 元,同比增长 2.59 ...
巨星科技(002444):工具出海龙头,品牌化+全球布局共铸成长
Xinda Securities· 2025-05-08 09:42
工具出海龙头,品牌化+全球布局共铸成长 [Table_CoverStock] —巨星科技(002444)公司首次覆盖报告 [Table_ReportDate] 2025 年 05 月 08 日 [Table_CoverAuthor] 姜文镪 新消费行业首席分析师 S1500524120004 S1500525030005 S1500523080006 jiangwenqiang@cindasc.com gongyizhi@cindasc.com wangrui@cindasc.com 龚轶之 新消费行业分析师 王锐 机械行业首席分析师 [Table_CoverReportList] 相关研究 1.巨星科技:自主品牌高增,加速全球化布局 证券研究报告 公司研究 资料来源:聚源,信达证券研发中心 [Table_BaseDat 公司主要数据 | a] 收盘价(元) | 24.40 | | --- | --- | | 52 周内股价波动区间 | 33.53-21.43 | | (元) | | | 最近一月涨跌幅(%) | 10.11 | | 总股本(亿股) | 11.94 | | 流通 A 股比例(%) | 95.7 ...