2026 年 03 月 01 日 行业研究 评级：推荐(维持) | 研究所： | | | --- | --- | | 证券分析师： | 董伯骏 S0350521080009 | | | dongbj@ghzq.com.cn | | 证券分析师： | 李永磊 S0350521080004 | | | liyl03@ghzq.com.cn | | 证券分析师： | 李振方 S0350524080003 | | | lizf@ghzq.com.cn | [Table_Title] 关注油价上涨，关注化工旺季到来—看好全球化 工反内卷大周期+AI 需求大周期 ——基础化工行业周报 最近一年走势 2026 年 2 月 26 日，国海化工景气指数为 94.19，较 2026 年 2 月 19 日上升 0.22。 投资建议： 从全球范围看，中国化工优势企业的成本和效率优势已经非常稳固，龙 头企业已经进入了业绩长周期向上的阶段。同时，对于部分供给端受限 的行业，随着需求的回升，这部分行业的景气度有望持续提升，值得重 点关注。碳排放管控下的反内卷有望重估中国化工行业，后续措施有望 使全球以及中国化工行业产能扩张大幅放缓，并对部 ...

同壁财经讯，企查查数据显示，根据《[华能北方公司内蒙古北联电能源开发有限责任公司东坪矿井及 选煤厂项目主斜井胶带机输送带采购] 中标结果公示》，浙江双箭橡胶股份有限公司于2026年2月24日 公告中标内蒙古北联电能源开发有限责任公司采购项目，中标金额为591.60万元。 同壁财经讯，企查查数据显示，根据《[华能北方公司内蒙古北联电能源开发有限责任公司东坪矿井及 选煤厂项目主斜井胶带机输送带采购] 中标结果公示》，浙江双箭橡胶股份有限公司于2026年2月24日 公告中标内蒙古北联电能源开发有限责任公司采购项目，中标金额为591.60万元。 相关上市公司：双箭股份(002381.SZ) 同壁财经小贴士： 双箭股份（002381.SZ）2024年营业收入为27.13亿元，营业收入增长率为4.64%，归属母公司净利润为 1.54亿元，归属母公司净利润增长率为-36.49%，净资产收益率为7.20%。 2025年上半年公司营业收入为13.33亿元，营业收入增长率为4.63%，归属母公司净利润为0.44亿元，归 属母公司净利润增长率为-59.99%。 目前公司属于材料行业，主要产品类型为高分子聚合物，2024年报主营构成 ...

证券日报网讯 2月24日，双箭股份在互动平台回答投资者提问时表示，公司业务遍布五大洲，近几年境 外销售收入约占营业总收入的20%，以公司境内经营主体直接销售为主，根据订单情况，各地区会有所 差异。 （编辑 袁冠琳） ...

Industry Overview - The Chinese automated warehouse equipment industry is transitioning from rapid expansion to high-quality development, with a market size projected to reach approximately 43.52 billion yuan in 2024, reflecting a year-on-year growth of 12.52% [1][9] - The fundamental purpose of investing in automated warehouse equipment is shifting from "storing goods" to "optimizing processes," aiming for cost reduction through semi/full automation and intelligence [1][9] - The current trend involves upgrading traditional high-rise warehouses to automated storage and retrieval systems (AS/RS), integrating shuttle cars, AGVs, and WMS systems [1][9] Market Size - The area of automated warehouses in China is expected to reach about 450 million square meters in 2024, with a year-on-year growth of 4.65% [6][7] - The growth in warehouse area directly reflects strong demand in industrial production, e-commerce logistics, and cold chain transportation, leading to increased equipment renovation and system integration needs [7][9] Industry Chain - The upstream of the automated warehouse equipment industry includes raw materials and components such as steel, aluminum alloys, sensors, and PLCs [4] - The midstream involves the manufacturing and system integration of automated warehouse equipment, while the downstream applications span various sectors including e-commerce, pharmaceuticals, and renewable energy [4] Key Companies - Leading companies in the industry include Qingdao Maoyuan, Kunshan Intelligent, and Beizi Technology, which dominate large complex projects due to their strong capital and technical backgrounds [9] - Companies like Jiangsu Liuwi and Hefei Jingsong are recognized for their dynamic market presence, transitioning from equipment manufacturing to solution providers [9] Industry Development Trends 1. The future of automated warehouses will evolve beyond simple "automated storage and retrieval" functions to become "intelligent warehouse brains" with capabilities for perception, decision-making, and execution [11] 2. Market demand is shifting from general scenarios to high-growth niche industries such as new energy vehicles and biomedicine, leading to customized solutions [12] 3. The focus of market competition is shifting from equipment sales to providing comprehensive intelligent warehouse solutions, which will concentrate resources among leading system integrators [13][14]

| 证券代码：002381 | 证券简称：双箭股份 | 公告编号：2026-004 | | --- | --- | --- | | 债券代码：127054 | 债券简称：双箭转债 | | 浙江双箭橡胶股份有限公司 关于可转换公司债券 2026 年付息的公告 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。 特别提示： 1、"双箭转债"将于2026年2月11日按面值支付第四年利息，每10张"双箭 转债"（面值1,000元）利息为15.00元（含税）。 经中国证券监督管理委员会《关于核准浙江双箭橡胶股份有限公司公开发行 可转换公司债券的批复》（证监许可〔2021〕3594号）核准，浙江双箭橡胶股份 有限公司（以下简称"公司"）于2022年2月11日公开发行了513.64万张可转债， 每张面值人民币100元，按面值发行，发行总额为人民币51,364.00万元，期限6 年。经深圳证券交易所"深证上〔2022〕226号"文同意，公司513.64万张可转 债于2022年3月15日起在深圳证券交易所上市交易，债券简称"双箭转债"，债 券代码"127054"。根据《浙江双箭橡胶 ...

Core Viewpoint - The company, Shuangjian Co., Ltd. (002381.SZ), has stated on its interactive platform that it is currently not conducting research on the transportation of conveyor belts under low gravity conditions [1] Group 1 - The company has clarified its current research focus, indicating no ongoing studies related to low gravity transportation of conveyor belts [1]

Group 1 - The company, Shuangjian Co., Ltd. (002381.SZ), has stated on its interactive platform that it is currently not conducting research on the transportation of conveyor belts under low gravity conditions [1]

| 代码 | 名称 | 主力净流入(元) | 主力净占比 游资净流入(元) | | 游资净占比 散户净流入(元) | | 散户净占比 | | --- | --- | --- | --- | --- | --- | --- | --- | | 300587 | 天铁科技 | - 695.75万 | 4.07% | 125.77万 | 0.74% | -821.52万 | -4.81% | | 920098 | 科隆新材 | 263.93万 | 9.76% | -255.12万 | -9.43% | -158.38万 | -5.86% | | 002381 | 双箭股份 | 162.51万 | 2.84% | 48.65万 | 0.85% | -211.16万 | -3.69% | | 300320 海达股份 | | 161.47万 | 1.47% | 551.30万 | 5.02% | -712.77万 | -6.49% | | 920834 | 三维装备 | -16.60万 | -1.04% | -107.76万 | -6.73% | 89.99万 | 5.62% | | 920694 | 中裕科技 | -5 ...

上市企业：博实股份（002698）,亚星化学（600319）,阳谷华泰（300121）,双箭股份（002381）,齐翔腾 达（002408）,海达股份（300320）,软控股份（002073）,中化国际（600500）,三力士（002224）,彤程 新材（603650） 相关报告：智研咨询发布的《2026-2032年中国合成橡胶行业市场供需态势及发展前景研判报告》 2020-2025年中国合成橡胶产量统计图 数据来源：国家统计局，智研咨询整理 知前沿，问智研。智研咨询是中国一流产业咨询机构，十数年持续深耕产业研究领域，提供深度产业研 究报告、商业计划书、可行性研究报告及定制服务等一站式产业咨询服务。专业的角度、品质化的服 务、敏锐的市场洞察力，专注于提供完善的产业解决方案，为您的投资决策赋能。 根据国家统计局数据显示：2025年12月中国合成橡胶产量为80万吨，同比下降20.2%；2025年1-12月中 国合成橡胶累计产量为893.2万吨，累计下降20.3%。 ...

Core Viewpoint - The company, Shuangjian Co., Ltd. (002381.SZ), forecasts a significant decline in net profit for the fiscal year 2025, with estimates ranging from 61 million to 73 million yuan, representing a year-on-year decrease of 52.47% to 60.28% [1] Financial Performance - The net profit attributable to shareholders is projected to be between 61 million and 73 million yuan, a decline compared to the previous year [1] - The net profit after deducting non-recurring gains and losses is expected to be between 53.4 million and 65.4 million yuan, reflecting a year-on-year decrease of 54.65% to 62.97% [1] Market Conditions - The primary reason for the decline in net profit is the overall slowdown in demand within the conveyor belt market, coupled with intensified competition in the industry [1] - Despite the challenges, the company's operating revenue has remained relatively stable, although the gross profit margin on product sales has decreased [1]