300751.SZ深圳证券交易所 · 创业板 ChiNext
Suzhou Maxwell Technologies 迈为股份
Solar Power Equipment 光伏设备
¥194.50−¥6.81 · −3.38%
Open 开盘
¥199.59
High 最高
¥200.92
Low 最低
¥194.44
Prev Close 昨收
¥201.31
Volume 成交量
316.1万股
Turnover 成交额
¥6.22亿
Mkt Cap 总市值
¥542亿
P/E 市盈率
93.5×
Recent Activity 近期动态All Filings 全部公告 →
6 significant filings since 31 May 2026: 4 on major holder selling, 1 on dividend and 1 on guarantee or financial assistance. The latest, on 15 Sep 2026: 2026年半年度权益分派实施公告.
自 31 May 2026 起有 6 份重大公告：major holder selling 4 份、dividend 1 份、guarantee or financial assistance 1 份。最新一份（15 Sep 2026）：2026年半年度权益分派实施公告。
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Volume 成交量
2,525.9万
20212022202420252026
Overview 概览Deep Report 深度报告Financials 财务Valuation 估值Ownership 股东Analysts 券商Estimates 预测News 动态Events 事件Peers 同业
As of 25 Sep 2026 截至2026年9月25日
Assessment 评估
Suzhou Maxwell Technologies 迈为股份, listed in 2018, operates in the solar power equipment industry. The company reported lower revenue and profit in 2025 compared to 2024, with revenue at RMB8.15bn and attributable net profit at RMB721.6m, down 17.1% and -22.1% respectively. Operating cash flow per share was -RMB2.50 in 2025, indicating a cash outflow from operations. Receivables took 239 days to collect and inventory took 751 days to turn over as of 30 Jun 2026. The company's stock has shown high volatility, with 26 trading days of 9% or more daily movement in the past year. Recent filings relate to the release of share pledges by the controlling shareholder. The financial profile shows pressure on cash conversion and asset efficiency.
迈为股份于2018年上市，属于光伏设备行业。2025年营业收入为81.52亿元，归母净利润为7.22亿元，同比分别下降17.1%和-22.1%。2025年每股经营现金流为-2.50元，显示经营活动现金流为净流出。截至2026年6月30日，应收账款周转天数为239天，存货周转天数为751天。过去12个月有26个交易日涨跌幅达9%及以上，股价波动较大。近期公告涉及控股股东部分股份解除质押。公司资金回笼和资产周转效率面临压力。
Risk Register 风险登记
| Flag 标记 | Risk 风险 | Mechanism 影响机制 |
|---|---|---|
| Operating cash outflow 经营现金净流出 | The company faces operating cash outflow. 公司面临经营活动现金流净流出。 | In 2025, operating cash flow per share was -RMB2.50, compared to RMB0.20 in 2024, indicating a worsening cash outflow from operations. This outflow suggests the company is generating less cash from core business activities than it consumes, which could strain liquidity and limit investment or debt repayment capacity. 2025年每股经营现金流为-2.50元，2024年为0.20元，显示经营现金流由流入转为流出。这表明公司主营业务产生的现金少于支出，可能对流动性造成压力，限制投资或偿债能力。 |
| Receivables take over 180 days to collect 应收账款周转天数超过180天 | Receivables take over 180 days to collect. 应收账款周转天数超过180天。 | As of 30 Jun 2026, receivable days were 239. This prolonged collection period ties up working capital, increases credit risk, and may indicate customer payment difficulties or weak pricing power, affecting cash availability and financial stability. 截至2026年6月30日，应收账款周转天数为239天。回款周期过长会占用营运资金，增加信用风险，可能反映客户支付困难或议价能力弱，影响现金可用性和财务稳定性。 |
What to Watch 关注要点
- Change in attributable net profit for the full year 2026.
2026全年归母净利润同比变动情况。 - Operating cash flow per share in 2026.
2026年每股经营现金流。 - Receivable days as of 31 Dec 2026.
截至2026年12月31日的应收账款周转天数。 - Inventory days as of 31 Dec 2026.
截至2026年12月31日的存货周转天数。 - Any new share pledge or release filings by the controlling shareholder.
控股股东是否有新的股份质押或解除质押公告。 - Revenue change for the second half of 2026 compared to the first half.
2026年下半年营业收入环比变动情况。
Facts 事实
- Company: Suzhou Maxwell Technologies 迈为股份, Shenzhen Stock Exchange 300751; industry Solar Power Equipment; listed 9 Nov 2018.
公司：迈为股份，深圳证券交易所 300751；行业：光伏设备；上市日期：2018年11月9日。 - Close on 24 Sep 2026 RMB194.50; close on 24 Sep 2025 RMB95.70, RMB95.28 in today's terms; one-year change, adjusted for distributions and share changes +104.1%.
2026年9月24日收盘价194.50元；2025年9月24日收盘价95.70元（前复权95.28元）；一年涨跌幅（复权）+104.1%。 - 52-week range in today's terms, adjusted for distributions and share changes RMB87.47 to RMB360.92.
52周区间（前复权）87.47元至360.92元。 - In the last 12 months 26 trading days closed 9% or more above or below the day before (all days, not only this year). The 5 most recent of them: 20 Jul 2026 -12.1%; 21 Jul 2026 +16.6%; 30 Jul 2026 -11.6%; 18 Aug 2026 +13.6%; 19 Aug 2026 -10.8%. The longest run of them on consecutive trading days: 3 days.
近12个月共有26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7月20日 -12.1%；2026年7月21日 +16.6%；2026年7月30日 -11.6%；2026年8月18日 +13.6%；2026年8月19日 -10.8%。其中最长连续3个交易日。 - Market capitalisation RMB54.25bn; P/E TTM 93.5; price to book 6.74x.
总市值542.46亿元；市盈率（TTM）93.5；市净率6.74倍。 - Revenue 2025 RMB8.15bn; 2024 RMB9.83bn; change -17.1%.
营业收入2025年81.52亿元；2024年98.30亿元；同比-17.1%。 - Attributable net profit 2025 RMB721.6m; 2024 RMB925.9m; change -22.1%.
归属于母公司股东的净利润2025年7.22亿元；2024年9.26亿元；同比-22.1%。 - Net profit excluding non-recurring items, 2025 change -16.8%.
2025年扣除非经常性损益后的净利润同比-16.8%。 - Basic EPS 2025 RMB2.59; 2024 RMB3.32.
基本每股收益2025年2.59元；2024年3.32元。 - Operating cash flow per share 2025 -RMB2.50; 2024 RMB0.20; operating cash flow to net profit -1.01x.
每股经营现金流2025年-2.50元；2024年0.20元；经营现金流与净利润之比-1.01倍。 - 2025 gross margin 38.6%; net margin 8.5%; ROE 9.3%.
2025年毛利率38.6%；净利率8.5%；净资产收益率9.3%。 - At 30 Jun 2026: liabilities to assets 65.8%; current ratio 1.65; quick ratio 1.05; receivable days 239; inventory days 751.
截至2026年6月30日：资产负债率65.8%；流动比率1.65；速动比率1.05；应收账款周转天数239；存货周转天数751。 - Period to 30 Jun 2026 (six months, not comparable with the full years above): revenue RMB2.91bn, change -31.0%; attributable net profit RMB252.1m, change -36.0%; operating cash flow per share RMB5.91.
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29.09亿元，同比-31.0%；归母净利润2.52亿元，同比-36.0%；每股经营现金流5.91元。 - In the 12 months to 25 Sep 2026: 2 distinct filings classed critical, high or as a lift; by class: 2 filings classed Pledge Released. One filing can fall in more than one class, and several filings can concern one matter, such as the notice and the result of one auction.
截至2026年9月25日的近12个月：被归为重大、较高级别或解除类的公告共2份；按类别：归为解除质押的公告2份。同一公告可属多个类别，同一事项亦可有多份公告，例如同一拍卖的提示公告与结果公告。 - 7 Apr 2026, Pledge Released (medium): filing titled 《关于控股股东部分股份解除质押的公告》.
2026年4月7日，解除质押：公告《关于控股股东部分股份解除质押的公告》。 - 12 Mar 2026, Pledge Released (medium): filing titled 《关于控股股东部分股份解除质押的公告》.
2026年3月12日，解除质押：公告《关于控股股东部分股份解除质押的公告》。 - Ownership: actual controller 周剑,王正根; largest holder at 30 Jun 2026: 周剑, 21.19%.
股权：实际控制人：周剑,王正根；2026年6月30日第一大股东：周剑，持股21.19%。 - Latest distribution: ex-date 21 Sep 2026, cash RMB0.50 per share.
最近一次分配：除权除息日2026年9月21日，每股现金0.50元。 - Aurelian Grade C, score 54.7 of 100, graded within a peer group of 69 companies in its industry; no rank among peers is given.
金源评级C，得分54.7（满分100），于行业同业69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。