Xizi Clean Energy Equipment Manufacturing 西子洁能
6 significant filings since 31 May 2026: 1 on acquisition or disposal, 1 on major contract or bid won and 1 on earnings pre-announcement, and 2 other kinds. The latest, on 11 Sep 2026: 关于公司副总经理辞任的公告. On 11 Jul 2026 the company said it expects net profit for the period ending 30 Jun 2026 to fall by 130.45% to 143.99% from the same period a year earlier.
自 31 May 2026 起有 6 份重大公告：acquisition or disposal 1 份、major contract or bid won 1 份、earnings pre-announcement 1 份，另有 2 类。最新一份（11 Sep 2026）：关于公司副总经理辞任的公告。11 Jul 2026 公司预告截至 30 Jun 2026 的净利润较上年同期下降 130.45% 至 143.99%。
As of 25 Sep 2026 截至2026年9月25日
Xizi Clean Energy Equipment Manufacturing 西子洁能 is a listed company in the Other Power Equipment industry, listed on the Shenzhen Stock Exchange since 10 Jan 2011. The company reported a slight decline in revenue and attributable net profit in 2025, with revenue at RMB6.24bn and net profit at RMB436.6m. However, net profit excluding non-recurring items rose sharply by +78.5%. Operating cash flow per share improved to RMB0.91, ahead of net profit. As of 30 Jun 2026, the company's financial position showed a healthy current ratio of 1.35 and liabilities to assets at 58.6%. However, the first half of 2026 saw a significant deterioration, with attributable net profit turning to a loss of -RMB50.4m, a decline of 134.1% year-on-year, as pre-announced in July 2026. This sharp reversal raises concerns about near-term profitability despite strong cash flow and balance sheet metrics.
西子洁能是一家其他电源设备行业的上市公司，于2011年1月10日在深圳证券交易所上市。2025年公司营业收入为62.41亿元，归母净利润为4.37亿元，均同比小幅下降。但扣除非经常性损益后的净利润同比大幅增长78.5%。每股经营现金流增至0.91元，高于净利润。截至2026年6月30日，公司流动比率为1.35，资产负债率为58.6%，财务状况稳健。然而，2026年上半年业绩大幅下滑，归母净利润由盈转亏，为-5,035.2万元，同比下滑134.1%，已在2026年7月的业绩预告中披露。尽管现金流和资产负债结构良好，但盈利的急剧恶化引发对短期盈利能力的担忧。
| Flag 标记 | Risk 风险 | Mechanism 影响机制 |
|---|---|---|
| Pre-announced profit fall of more than 50% 预告净利润降幅超过50% | The company pre-announced a profit decline of more than 50%. 公司已预告归母净利润同比下降超50%。 | The attributable net profit for the period to 30 Jun 2026 turned to a loss of -RMB50.4m, down 134.1% year-on-year, as stated in the pre-announcement of 11 Jul 2026. This sharp decline indicates a significant weakening in profitability in the first half of 2026. 根据2026年7月11日的业绩预告，截至2026年6月30日归母净利润为-5,035.2万元，同比下滑134.1%，由盈利转为亏损。这一大幅下降表明公司2026年上半年盈利能力显著减弱。 |
- Attributable net profit for the full year 2026, to see if the loss in the first half is offset by a recovery in the second half.
2026年全年归母净利润，观察上半年亏损是否在下半年得到弥补。 - Operating cash flow per share for the full year 2026, to assess whether cash generation remains ahead of profit.
2026年全年每股经营现金流，评估现金流是否持续优于净利润。 - Revenue change in the second half of 2026 compared to the first half, to determine if the decline is reversing.
2026年下半年营业收入变化，对比上半年，判断收入下滑趋势是否扭转。 - Liabilities to assets ratio at year-end 2026, to confirm financial leverage remains stable.
2026年末资产负债率，确认财务杠杆是否保持稳定。 - Gross margin in the second half of 2026, to assess pricing power and cost control.
2026年下半年毛利率，评估公司定价能力与成本控制。 - Whether the controlling shareholder pledges or sells shares in upcoming disclosures.
控股股东是否在后续公告中质押或减持股份。
- Company: Xizi Clean Energy Equipment Manufacturing 西子洁能, Shenzhen Stock Exchange 002534; industry Other Power Equipment; listed 10 Jan 2011.
公司：西子洁能，深圳证券交易所 002534；行业：其他电源设备；上市日期：2011年1月10日。 - Close on 24 Sep 2026 RMB17.41; close on 24 Sep 2025 RMB15.18, RMB15.11 in today's terms; one-year change, adjusted for distributions and share changes +15.2%.
2026年9月24日收盘价17.41元；2025年9月24日收盘价15.18元（前复权15.11元）；一年涨跌幅（复权）+15.2%。 - 52-week range in today's terms, adjusted for distributions and share changes RMB12.38 to RMB21.98.
52周区间（前复权）12.38元至21.98元。 - In the last 12 months 5 trading days closed 9% or more above or below the day before (all days, not only this year). The 5 most recent of them: 29 Sep 2025 +10.0%; 9 Feb 2026 +10.0%; 8 Jul 2026 -10.0%; 30 Jul 2026 +10.0%; 31 Aug 2026 +10.0%. No two of the 5 fell on consecutive trading days.
近12个月共有5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：2025年9月29日 +10.0%；2026年2月9日 +10.0%；2026年7月8日 -10.0%；2026年7月30日 +10.0%；2026年8月31日 +10.0%。其中任意两个交易日均不相邻。 - Market capitalisation RMB14.55bn; P/E TTM 61.0; price to book 2.66x.
总市值145.54亿元；市盈率（TTM）61.0；市净率2.66倍。 - Revenue 2025 RMB6.24bn; 2024 RMB6.44bn; change -3.0%.
营业收入2025年62.41亿元；2024年64.37亿元；同比-3.0%。 - Attributable net profit 2025 RMB436.6m; 2024 RMB439.8m; change -0.7%.
归属于母公司股东的净利润2025年4.37亿元；2024年4.40亿元；同比-0.7%。 - Net profit excluding non-recurring items, 2025 change +78.5%.
2025年扣除非经常性损益后的净利润同比+78.5%。 - Basic EPS 2025 RMB0.57; 2024 RMB0.60.
基本每股收益2025年0.57元；2024年0.60元。 - Operating cash flow per share 2025 RMB0.91; 2024 RMB0.77; operating cash flow to net profit 1.36x.
每股经营现金流2025年0.91元；2024年0.77元；经营现金流与净利润之比1.36倍。 - 2025 gross margin 19.0%; net margin 9.0%; ROE 9.5%.
2025年毛利率19.0%；净利率9.0%；净资产收益率9.5%。 - At 30 Jun 2026: liabilities to assets 58.6%; current ratio 1.35; quick ratio 1.18; receivable days 97; inventory days 311.
截至2026年6月30日：资产负债率58.6%；流动比率1.35；速动比率1.18；应收账款周转天数97；存货周转天数311。 - Period to 30 Jun 2026 (six months, not comparable with the full years above): revenue RMB2.47bn, change -11.4%; attributable net profit -RMB50.4m, change -134.1% (from a profit to a loss); operating cash flow per share -RMB0.15.
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24.74亿元，同比-11.4%；归母净利润-5,035.2万元，同比-134.1%（由盈转亏）；每股经营现金流-0.15元。 - Pre-announcement of 11 Jul 2026 for the period to 30 Jun 2026: attributable net profit change -144% to -130%.
2026年7月11日发布的截至2026年6月30日业绩预告：归母净利润同比-144%至-130%。 - Ownership: controlling shareholder 西子电梯集团有限公司; actual controller 王水福; largest holder at 30 Jun 2026: 西子电梯集团有限公司, 34.49%.
股权：控股股东：西子电梯集团有限公司；实际控制人：王水福；2026年6月30日第一大股东：西子电梯集团有限公司，持股34.49%。 - Latest distribution: ex-date 29 May 2026, cash RMB0.10 per share.
最近一次分配：除权除息日2026年5月29日，每股现金0.10元。 - Aurelian Grade E, score 28.5 of 100, graded within a peer group of 35 companies in its industry; no rank among peers is given.
金源评级E，得分28.5（满分100），于行业同业35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。