Kunshan Huguang Auto Harness 沪光股份
5 significant filings since 30 May 2026: 3 on guarantee or financial assistance, 1 on earnings pre-announcement and 1 on dividend. The latest, on 29 Aug 2026: 关于为全资子公司提供担保的进展公告.
自 30 May 2026 起有 5 份重大公告：guarantee or financial assistance 3 份、earnings pre-announcement 1 份、dividend 1 份。最新一份（29 Aug 2026）：关于为全资子公司提供担保的进展公告。
As of 25 Sep 2026 截至2026年9月25日
Kunshan Huguang Auto Harness 沪光股份, listed on the Shanghai Stock Exchange, operates in the auto parts industry. The company reported revenue growth in 2025, rising to RMB8.49bn from RMB7.91bn in 2024, but profit declined significantly, with attributable net profit falling to RMB481.2m from RMB670.3m. Margins and returns remain positive, with a 5.7% net margin and 18.4% ROE in 2025. However, the first half of 2026 shows weakening performance, with profit down 80.6% and operating cash flow per share at RMB0.04. The share price has dropped sharply, falling 56.0% over one year, triggering a risk flag. Liquidity ratios are stable, with a current ratio of 1.13 and quick ratio of 0.97 at mid-2026. The controlling and largest shareholder is 成三荣, holding 56.46%.
沪光股份（Kunshan Huguang Auto Harness）在上海证券交易所上市，属于汽车零部件行业。公司2025年营业收入从2024年的79.14亿元增至84.90亿元，但净利润明显下滑，归母净利润从6.70亿元降至4.81亿元。2025年净利率为5.7%，净资产收益率为18.4%，仍保持盈利。然而，2026年上半年业绩走弱，归母净利润同比下滑80.6%，每股经营现金流为0.04元。股价在过去一年下跌56.0%，触发风险警示。截至2026年6月30日，流动比率1.13，速动比率0.97，流动性状况稳定。控股股东及第一大股东为成三荣，持股56.46%。
| Flag 标记 | Risk 风险 | Mechanism 影响机制 |
|---|---|---|
| Share price down 40% or more in a year 股价一年下跌40%或以上 | The share price has fallen more than 40% in one year. 股价一年内下跌超过40%。 | A sharp decline in share price may affect investor confidence and the company's ability to raise capital. It reflects a significant market revaluation, possibly due to deteriorating earnings trends, as seen in the 80.6% drop in first-half 2026 profit. 股价大幅下跌可能影响投资者信心及公司融资能力。这反映了市场的显著重估，可能与盈利恶化有关，例如2026年上半年利润下滑80.6%。 |
- Change in attributable net profit for the full year 2026 compared to 2025.
2026全年归母净利润较2025年的变动情况。 - Operating cash flow to net profit ratio in the 2026 annual report.
2026年报中经营现金流与净利润之比。 - Revenue trend in the second half of 2026 compared to the first half.
2026年下半年营业收入相较于上半年的变化趋势。 - Liabilities to assets ratio at year-end 2026.
2026年末资产负债率。 - Pledge status of shares held by the controlling shareholder 成三荣.
控股股东成三荣所持股份的质押情况。 - Next distribution announcement, if any, after 16 Jun 2026.
2026年6月16日之后的下一次分红公告（如有）。
- Company: Kunshan Huguang Auto Harness 沪光股份, Shanghai Stock Exchange 605333; industry Auto Parts; listed 18 Aug 2020.
公司：沪光股份，上海证券交易所 605333；行业：汽车零部件；上市日期：2020年8月18日。 - Close on 24 Sep 2026 RMB16.67; close on 24 Sep 2025 RMB38.30, RMB37.90 in today's terms; one-year change, adjusted for distributions and share changes -56.0%.
2026年9月24日收盘价16.67元；2025年9月24日收盘价38.30元（前复权37.90元）；一年涨跌幅（复权）-56.0%。 - 52-week range in today's terms, adjusted for distributions and share changes RMB15.58 to RMB38.86.
52周区间（前复权）15.58元至38.86元。 - In the last 12 months 2 trading days closed 9% or more above or below the day before (all days, not only this year). The 2 most recent of them: 24 Apr 2026 -9.3%; 18 Aug 2026 +10.0%. No two of the 2 fell on consecutive trading days.
近12个月共有2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2个：2026年4月24日 -9.3%；2026年8月18日 +10.0%。其中任意两个交易日均不相邻。 - Market capitalisation RMB7.74bn; P/E TTM 29.9; price to book 2.32x.
总市值77.36亿元；市盈率（TTM）29.9；市净率2.32倍。 - Revenue 2025 RMB8.49bn; 2024 RMB7.91bn; change +7.3%.
营业收入2025年84.90亿元；2024年79.14亿元；同比+7.3%。 - Attributable net profit 2025 RMB481.2m; 2024 RMB670.3m; change -28.2%.
归属于母公司股东的净利润2025年4.81亿元；2024年6.70亿元；同比-28.2%。 - Net profit excluding non-recurring items, 2025 change -29.6%.
2025年扣除非经常性损益后的净利润同比-29.6%。 - Basic EPS 2025 RMB1.09; 2024 RMB1.53.
基本每股收益2025年1.09元；2024年1.53元。 - Operating cash flow per share 2025 RMB0.78; 2024 RMB0.89; operating cash flow to net profit 0.75x.
每股经营现金流2025年0.78元；2024年0.89元；经营现金流与净利润之比0.75倍。 - 2025 gross margin 14.3%; net margin 5.7%; ROE 18.4%.
2025年毛利率14.3%；净利率5.7%；净资产收益率18.4%。 - At 30 Jun 2026: liabilities to assets 60.9%; current ratio 1.13; quick ratio 0.97; receivable days 151; inventory days 45.
截至2026年6月30日：资产负债率60.9%；流动比率1.13；速动比率0.97；应收账款周转天数151；存货周转天数45。 - Period to 30 Jun 2026 (six months, not comparable with the full years above): revenue RMB3.53bn, change -2.9%; attributable net profit RMB53.6m, change -80.6%; operating cash flow per share RMB0.04.
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35.25亿元，同比-2.9%；归母净利润5,361.8万元，同比-80.6%；每股经营现金流0.04元。 - Ownership: actual controller 成三荣,金成成; controlling shareholder 成三荣; largest holder at 30 Jun 2026: 成三荣, 56.46%.
股权：实际控制人：成三荣,金成成；控股股东：成三荣；2026年6月30日第一大股东：成三荣，持股56.46%。 - Latest distribution: ex-date 16 Jun 2026, cash RMB0.20 per share.
最近一次分配：除权除息日2026年6月16日，每股现金0.20元。 - Aurelian Grade E, score 24.3 of 100, graded within a peer group of 275 companies in its industry; no rank among peers is given.
金源评级E，得分24.3（满分100），于行业同业275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。