Zhangjiagang Haiguo New Energy Equipment 海锅股份
7 significant filings since 30 May 2026: 2 on major holder selling, 2 on change of interest and 1 on dividend, and 2 other kinds. The latest, on 3 Jul 2026: 2025年年度权益分派实施公告.
自 30 May 2026 起有 7 份重大公告：major holder selling 2 份、change of interest 2 份、dividend 1 份，另有 2 类。最新一份（3 Jul 2026）：2025年年度权益分派实施公告。
As of 25 Sep 2026 截至2026年9月25日
Zhangjiagang Haiguo New Energy Equipment 海锅股份 is a special-purpose machinery company listed on the Shenzhen Stock Exchange. It reported revenue growth of 40.4% in 2025 to RMB1.88bn, with attributable net profit rising 53.5% to RMB51.2m. Profit quality weakened as operating cash flow per share turned negative at -RMB0.97 in 2025, compared to RMB0.33 in 2024, resulting in an operating cash flow to net profit ratio of -1.98x. The company remains profitable, with a 2025 net margin of 2.7% and ROE of 3.3%. As of 30 Jun 2026, its balance sheet shows a liabilities to assets ratio of 40.8%, current ratio of 1.74 and receivable days of 148. In the first half of 2026, revenue declined 10.9% to RMB842.9m and attributable net profit fell 86.6% to RMB4.6m. The stock has declined 27.3% over one year.
海锅股份是一家在深交所上市的专用设备公司。2025年营业收入达18.77亿元，同比增长40.4%；归母净利润达5,120.2万元，同比增长53.5%。但盈利质量弱化，2025年每股经营现金流为-0.97元，较2024年的0.33元转负，经营现金流与净利润之比为-1.98倍。公司仍保持盈利，2025年净利率为2.7%，净资产收益率为3.3%。截至2026年6月30日，资产负债率为40.8%，流动比率1.74，应收账款周转天数148天。2026年上半年营业收入同比下降10.9%至8.43亿元，归母净利润同比下降86.6%至455.0万元。过去一年股价下跌27.3%。
| Flag 标记 | Risk 风险 | Mechanism 影响机制 |
|---|---|---|
| Operating cash outflow 经营现金净流出 | The company generated negative operating cash flow in 2025. 公司2025年经营现金流为负。 | Operating cash flow per share was -RMB0.97 in 2025, compared to RMB0.33 in 2024. This outflow weakens the link between reported profit and cash generation, increasing liquidity risk. 2025年每股经营现金流为-0.97元，2024年为0.33元。经营现金流转为流出，削弱了账面利润与现金生成的联系，增加流动性风险。 |
- Change in attributable net profit for the full year 2026.
2026全年归母净利润变动情况。 - Operating cash flow per share in 2026.
2026年每股经营现金流。 - Revenue growth 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。 - Receivable days at year-end 2026.
2026年末应收账款周转天数。 - Liabilities to assets ratio at year-end 2026.
2026年末资产负债率。 - Announcement of any share pledge or freeze by the controlling shareholder.
控股股东是否存在股份质押或冻结的公告。
- Company: Zhangjiagang Haiguo New Energy Equipment 海锅股份, Shenzhen Stock Exchange 301063; industry Special-purpose Machinery; listed 24 Sep 2021.
公司：海锅股份，深圳证券交易所 301063；行业：专用设备；上市日期：2021年9月24日。 - Close on 24 Sep 2026 RMB18.43; close on 24 Sep 2025 RMB25.58, RMB25.34 in today's terms; one-year change, adjusted for distributions and share changes -27.3%.
2026年9月24日收盘价18.43元；2025年9月24日收盘价25.58元（前复权25.34元）；一年涨跌幅（复权）-27.3%。 - 52-week range in today's terms, adjusted for distributions and share changes RMB14.98 to RMB30.80.
52周区间（前复权）14.98元至30.80元。 - Market capitalisation RMB1.92bn; P/E TTM 87.9; price to book 1.21x.
总市值19.23亿元；市盈率（TTM）87.9；市净率1.21倍。 - Revenue 2025 RMB1.88bn; 2024 RMB1.34bn; change +40.4%.
营业收入2025年18.77亿元；2024年13.36亿元；同比+40.4%。 - Attributable net profit 2025 RMB51.2m; 2024 RMB33.4m; change +53.5%.
归属于母公司股东的净利润2025年5,120.2万元；2024年3,335.2万元；同比+53.5%。 - Net profit excluding non-recurring items, 2025 change +65.9%.
2025年扣除非经常性损益后的净利润同比+65.9%。 - Basic EPS 2025 RMB0.50; 2024 RMB0.33.
基本每股收益2025年0.50元；2024年0.33元。 - Operating cash flow per share 2025 -RMB0.97; 2024 RMB0.33; operating cash flow to net profit -1.98x.
每股经营现金流2025年-0.97元；2024年0.33元；经营现金流与净利润之比-1.98倍。 - 2025 gross margin 10.8%; net margin 2.7%; ROE 3.3%.
2025年毛利率10.8%；净利率2.7%；净资产收益率3.3%。 - At 30 Jun 2026: liabilities to assets 40.8%; current ratio 1.74; quick ratio 1.18; receivable days 148; inventory days 136.
截至2026年6月30日：资产负债率40.8%；流动比率1.74；速动比率1.18；应收账款周转天数148；存货周转天数136。 - Period to 30 Jun 2026 (six months, not comparable with the full years above): revenue RMB842.9m, change -10.9%; attributable net profit RMB4.6m, change -86.6%; operating cash flow per share -RMB0.01.
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8.43亿元，同比-10.9%；归母净利润455.0万元，同比-86.6%；每股经营现金流-0.01元。 - Ownership: actual controller 盛雪华,盛天宇,钱丽萍; controlling shareholder 盛雪华; largest holder at 30 Jun 2026: 盛雪华, 14.56%.
股权：实际控制人：盛雪华,盛天宇,钱丽萍；控股股东：盛雪华；2026年6月30日第一大股东：盛雪华，持股14.56%。 - Latest distribution: ex-date 10 Jul 2026, cash RMB0.15 per share.
最近一次分配：除权除息日2026年7月10日，每股现金0.15元。 - Aurelian Grade D, score 32.6 of 100, graded within a peer group of 204 companies in its industry; no rank among peers is given.
金源评级D，得分32.6（满分100），于行业同业204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。