Jiangxi Jiangnan New Material 江南新材
11 significant filings since 29 May 2026: 7 on share issue, 3 on guarantee or financial assistance and 1 on earnings pre-announcement. The latest, on 24 Sep 2026: 关于为全资子公司提供担保进展的公告.
自 29 May 2026 起有 11 份重大公告：share issue 7 份、guarantee or financial assistance 3 份、earnings pre-announcement 1 份。最新一份（24 Sep 2026）：关于为全资子公司提供担保进展的公告。
As of 25 Sep 2026 截至2026年9月25日
Jiangxi Jiangnan New Material 江南新材 is a listed company in the Advanced Metal Materials industry, listed on the Shanghai Stock Exchange. The company reported revenue growth of 18.7% in 2025, with attributable net profit rising 24.3% and net profit excluding non-recurring items increasing 40.3%. Profit margins remain low, with a 2025 gross margin of 4.1% and net margin of 2.1%. Despite profitability, operating cash flow per share was negative at -RMB6.06 in 2025, worsening from -RMB7.84 in 2024, and the operating cash flow to net profit ratio stood at -4.03x. As of 30 Jun 2026, the company's liabilities to assets ratio was 65.3%, with a current ratio of 1.57. The stock has shown high volatility, with 22 trading days of 9% or more daily movement in the past year. The actual controller and largest shareholder is 徐上金.
江南新材是一家在上交所上市的金属新材料行业公司。2025年营业收入同比增长18.7%，归母净利润同比增长24.3%，扣非后净利润同比增长40.3%。2025年毛利率为4.1%，净利率为2.1%，盈利水平较低。尽管盈利，2025年每股经营现金流为-6.06元，虽较2024年的-7.84元有所收窄，但经营现金流与净利润之比为-4.03倍。截至2026年6月30日，资产负债率为65.3%，流动比率为1.57。过去12个月有22个交易日涨跌幅达9%及以上，股价波动较大。实际控制人及第一大股东为徐上金。
| Flag 标记 | Risk 风险 | Mechanism 影响机制 |
|---|---|---|
| Operating cash outflow 经营现金净流出 | The company faces sustained operating cash outflows. 公司面临持续的经营现金流净流出。 | Negative operating cash flow per share of -RMB6.06 in 2025, though improved from -RMB7.84 in 2024, indicates weak cash generation from core operations. This could strain liquidity despite reported net profit. 2025年每股经营现金流为-6.06元，虽较2024年的-7.84元收窄，但仍表明主营业务现金生成能力弱，可能在盈利情况下对流动性造成压力。 |
- Operating cash flow per share in the 2026 full-year report
2026年全年报告中的每股经营现金流 - Revenue and net profit growth for the full year 2026
2026全年营业收入和净利润增长率 - Liabilities to assets ratio as of 31 Dec 2026
截至2026年12月31日的资产负债率 - Change in attributable net profit excluding non-recurring items for 2026
2026年扣除非经常性损益后的归母净利润变动 - Number of trading days with 9% or more daily price movement in the next 12 months
未来12个月涨跌幅达9%及以上的交易日数量 - Pledge or freeze status of shares held by 徐上金
徐上金所持股份的质押或冻结状态
- Company: Jiangxi Jiangnan New Material 江南新材, Shanghai Stock Exchange 603124; industry Advanced Metal Materials; listed 20 Mar 2025.
公司：江南新材，上海证券交易所 603124；行业：金属新材料；上市日期：2025年3月20日。 - Close on 24 Sep 2026 RMB131.82; close on 24 Sep 2025 RMB86.15, RMB85.87 in today's terms; one-year change, adjusted for distributions and share changes +53.5%.
2026年9月24日收盘价131.82元；2025年9月24日收盘价86.15元（前复权85.87元）；一年涨跌幅（复权）+53.5%。 - 52-week range in today's terms, adjusted for distributions and share changes RMB68.26 to RMB211.31.
52周区间（前复权）68.26元至211.31元。 - In the last 12 months 22 trading days closed 9% or more above or below the day before (all days, not only this year). The 5 most recent of them: 7 Aug 2026 +10.0%; 19 Aug 2026 -10.0%; 7 Sep 2026 +10.0%; 23 Sep 2026 +10.0%; 24 Sep 2026 -9.1%. The longest run of them on consecutive trading days: 3 days.
近12个月共有22个交易日收盘涨跌幅达9%及以上（为全部交易日，不限于今年）。其中最近5个：2026年8月7日 +10.0%；2026年8月19日 -10.0%；2026年9月7日 +10.0%；2026年9月23日 +10.0%；2026年9月24日 -9.1%。其中最长连续3个交易日。 - Market capitalisation RMB19.21bn; P/E TTM 70.2; price to book 9.89x.
总市值192.12亿元；市盈率（TTM）70.2；市净率9.89倍。 - Revenue 2025 RMB10.33bn; 2024 RMB8.70bn; change +18.7%.
营业收入2025年103.29亿元；2024年86.99亿元；同比+18.7%。 - Attributable net profit 2025 RMB219.1m; 2024 RMB176.3m; change +24.3%.
归属于母公司股东的净利润2025年2.19亿元；2024年1.76亿元；同比+24.3%。 - Net profit excluding non-recurring items, 2025 change +40.3%.
2025年扣除非经常性损益后的净利润同比+40.3%。 - Basic EPS 2025 RMB1.60; 2024 RMB1.61.
基本每股收益2025年1.60元；2024年1.61元。 - Operating cash flow per share 2025 -RMB6.06; 2024 -RMB7.84; operating cash flow to net profit -4.03x.
每股经营现金流2025年-6.06元；2024年-7.84元；经营现金流与净利润之比-4.03倍。 - 2025 gross margin 4.1%; net margin 2.1%; ROE 13.0%.
2025年毛利率4.1%；净利率2.1%；净资产收益率13.0%。 - At 30 Jun 2026: liabilities to assets 65.3%; current ratio 1.57; quick ratio 1.28; receivable days 51; inventory days 23.
截至2026年6月30日：资产负债率65.3%；流动比率1.57；速动比率1.28；应收账款周转天数51；存货周转天数23。 - Period to 30 Jun 2026 (six months, not comparable with the full years above): revenue RMB6.79bn, change +40.8%; attributable net profit RMB160.2m, change +51.7%; operating cash flow per share -RMB3.16.
截至2026年6月30日的报告期（六个月，不可与上述全年数据直接比较）：营业收入67.90亿元，同比+40.8%；归母净利润1.60亿元，同比+51.7%；每股经营现金流-3.16元。 - Ownership: actual controller 徐上金,钱芬妹; controlling shareholder 徐上金; largest holder at 30 Jun 2026: 徐上金, 39.06%.
股权：实际控制人：徐上金,钱芬妹；控股股东：徐上金；2026年6月30日第一大股东：徐上金，持股39.06%。 - Latest distribution: ex-date 3 Jun 2026, cash RMB0.46 per share.
最近一次分配：除权除息日2026年6月3日，每股现金0.46元。 - Aurelian Grade D, score 44.7 of 100, graded within a peer group of 36 companies in its industry; no rank among peers is given.
金源评级D，得分44.7（满分100），于行业同业36家中评定；未提供其在同业中的排名。 - Not held for this report: receivable ageing, litigation case amounts, the order book, the auditor's opinion and key audit matters, segment revenue.
本报告未掌握：应收账款账龄、诉讼案件金额、在手订单、审计意见及关键审计事项、分部收入。