作手刚哥的个人主页 - 老虎社区

作手刚哥

作手刚哥

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IP属地：四川

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2025-12-22

$华芢生物-B(02396)$ 拉起来，不能让恶庄收割了

2025-12-22

$华芢生物-B(02396)$ 拉起来，拉起来，拉起来

2025-12-22

$印象大红袍(02695)$ 拉起来拉起来，不能让狗庄收割

2025-12-22

$华芢生物-B(02396)$ 拉起来拉起来

2025-11-06

咨询一下，绿色剩余额度这个页面在哪里查看？谢谢

@股壇新手ton:$均胜电子(00699)$ 伏伏伏伏伏伏伏伏伏伏，绿鞋呢

2025-11-04

哦，那就涨50％给你看

均胜电子累计调整25%，三季度遭中国人寿减持｜IPO观察

2025-05-23

$黄金主连 2506(GCmain)$

2025-05-06

$恒生科技指数(HSTECH)$

去老虎APP查看更多动态

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拉起来拉起来，不能让狗庄收割","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/513457186550096","isVote":1,"tweetType":1,"viewCount":807,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"4118884890286510","authorId":"4118884890286510","name":"廿廿","avatar":"https://static.tigerbbs.com/0eb3d641d2374c55eae42b92138b7dc7","crmLevel":3,"crmLevelSwitch":0,"authorIdStr":"4118884890286510","idStr":"4118884890286510"},"content":"20个点割了，怕跌到底了，起不起来了 [流泪]","text":"20个点割了，怕跌到底了，起不起来了 [流泪]","html":"20个点割了，怕跌到底了，起不起来了 [流泪]"}],"imageCount":0,"langContent":"CN","totalScore":0},{"id":513456225231240,"gmtCreate":1766382485665,"gmtModify":1766382487896,"author":{"id":"4194242826067422","authorId":"4194242826067422","name":"作手刚哥","avatar":"https://static.tigerbbs.com/51c883c0c383c72bc8fbe1a0820d2517","crmLevel":2,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"4194242826067422","idStr":"4194242826067422"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/02396\">$华芢生物-B(02396)$ </a> 拉起来拉起来","listText":"<a href=\"https://laohu8.com/S/02396\">$华芢生物-B(02396)$ </a> 拉起来拉起来","text":"$华芢生物-B(02396)$ 拉起来拉起来","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/513456225231240","isVote":1,"tweetType":1,"viewCount":436,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":497246322782720,"gmtCreate":1762420547353,"gmtModify":1762420650000,"author":{"id":"4194242826067422","authorId":"4194242826067422","name":"作手刚哥","avatar":"https://static.tigerbbs.com/51c883c0c383c72bc8fbe1a0820d2517","crmLevel":2,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"4194242826067422","idStr":"4194242826067422"},"themes":[],"title":"","htmlText":"咨询一下，绿色剩余额度这个页面在哪里查看？谢谢","listText":"咨询一下，绿色剩余额度这个页面在哪里查看？谢谢","text":"咨询一下，绿色剩余额度这个页面在哪里查看？谢谢","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/497246322782720","repostId":"497198563697616","repostType":1,"repost":{"id":497198563697616,"gmtCreate":1762408888090,"gmtModify":1767077049299,"author":{"id":"3575250876128761","authorId":"3575250876128761","name":"股壇新手ton","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575250876128761","idStr":"3575250876128761"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/00699\">$均胜电子(00699)$&nbsp;</a>伏伏伏伏伏伏伏伏伏伏，绿鞋呢","listText":"<a href=\"https://laohu8.com/S/00699\">$均胜电子(00699)$&nbsp;</a>伏伏伏伏伏伏伏伏伏伏，绿鞋呢","text":"$均胜电子(00699)$ 伏伏伏伏伏伏伏伏伏伏，绿鞋呢","images":[{"img":"https://community-static.tradeup.com/news/c485eac042ade8ea513fd6caa6d9830e","width":"1080","height":"1938"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/497198563697616","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":303,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":496563444863008,"gmtCreate":1762254744804,"gmtModify":1762261180684,"author":{"id":"4194242826067422","authorId":"4194242826067422","name":"作手刚哥","avatar":"https://static.tigerbbs.com/51c883c0c383c72bc8fbe1a0820d2517","crmLevel":2,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"4194242826067422","idStr":"4194242826067422"},"themes":[],"title":"","htmlText":"哦，那就涨50％给你看","listText":"哦，那就涨50％给你看","text":"哦，那就涨50％给你看","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/496563444863008","repostId":"2580842877","repostType":2,"repost":{"id":"2580842877","kind":"news","pubTimestamp":1762251852,"share":"https://www.laohu8.com/m/news/2580842877?lang=zh_CN&edition=full","pubTime":"2025-11-04 18:24","market":"hk","language":"zh","title":"均胜电子累计调整25%，三季度遭中国人寿减持｜IPO观察","url":"https://stock-news.laohu8.com/highlight/detail?id=2580842877","media":"第一财经","summary":"11月4日，均胜电子跌4.43%，报收29.57元，相比9月19日近40元的高点累计调整超过25%。受益机器人概念，均胜电子在第三季度股价一度翻倍。2025年第三季度，均胜电子实现营业收入154.97亿元，同比增长10.25%，环比下降1.74%；归母净利润4.13亿元，同比增长35.40%，环比增长12.37%。三季报当中均胜电子表示，随着材料降本、运营效率提升、产能转移优化等措施落地，前三季度整体毛利率同比提升2.7个百分点至18.3%，第三季度单季毛利率同比提升2.9个百分点至18.6%。","content":"<div>\n<p>汽车安全电子龙头股均胜电子（600699.SH）11月3日晚间公布了港股上市发行价，定价为22港元，相比A股最新收盘价折价大约32%。11月4日，均胜电子跌4.43%，报收29.57元，相比9月19日近40元的高点累计调整超过25%。有业内人士表示，虽然有机器人新业务支撑，但这部分业务对业绩贡献不好预判，海外投资者依然按照汽车零部件行业作为参考定价，市盈率是25倍左右。受益机器人概念，均胜电子在...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20251104182802a48787e1&s=b\">网页链接</a>\n\n</div>\n","source":"tencent","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>均胜电子累计调整25%，三季度遭中国人寿减持｜IPO观察</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; 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width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n均胜电子累计调整25%，三季度遭中国人寿减持｜IPO观察\n</h2>\n\n<h4 class=\"meta\">\n\n\n2025-11-04 18:24 北京时间&nbsp;&nbsp;&nbsp;<a href=http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20251104182802a48787e1&s=b><strong>第一财经</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>汽车安全电子龙头股均胜电子（600699.SH）11月3日晚间公布了港股上市发行价，定价为22港元，相比A股最新收盘价折价大约32%。11月4日，均胜电子跌4.43%，报收29.57元，相比9月19日近40元的高点累计调整超过25%。有业内人士表示，虽然有机器人新业务支撑，但这部分业务对业绩贡献不好预判，海外投资者依然按照汽车零部件行业作为参考定价，市盈率是25倍左右。受益机器人概念，均胜电子在...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20251104182802a48787e1&s=b\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU2097828474.EUR":"AZ EQUITY CHINA \"A\" (EUR) ACC A","LU0588546209.SGD":"Eastspring Investments - China Equity Fund AS SGD","LU0173614495.USD":"富达中国焦点A","BK1550":"内险股","IE0032431581.USD":"PINEBRIDGE GREATER CHINA EQUITY \"A\" (USD) ACC","BK1521":"挪威政府全球养老基金持仓","02628":"中国人寿","SG9999012728.SGD":"United Asian Income Fund Dis SGD","LU2097828557.USD":"AZ EQUITY CHINA \"A\" (USD) 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ACC"},"source_url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20251104182802a48787e1&s=b","is_english":false,"share_image_url":"https://static.laohu8.com/9a95c1376e76363c1401fee7d3717173","article_id":"2580842877","content_text":"汽车安全电子龙头股均胜电子（600699.SH）11月3日晚间公布了港股上市发行价，定价为22港元，相比A股最新收盘价折价大约32%。11月4日，均胜电子跌4.43%，报收29.57元，相比9月19日近40元的高点累计调整超过25%。有业内人士表示，虽然有机器人新业务支撑，但这部分业务对业绩贡献不好预判，海外投资者依然按照汽车零部件行业作为参考定价，市盈率是25倍左右。受益机器人概念，均胜电子在第三季度股价一度翻倍。不过，10月29日晚间公布的三季报显示，均胜电子环比收入出现了负增长，不能满足投资者预期，中国人寿在第三季度也减持了超过300万股，仍然持有619.45万股，持仓占总股本比例下降到0.44%，随后均胜电子连跌多日。港股IPO折价32%，第三季度收入环比下滑11月4日，均胜电子公告，公司确定本次H股发行价格为每股22港元，预计将于2025年11月6日在香港联交所主板挂牌交易。该发行价对应市盈率约25倍左右，较A股最新收盘价折价32%。有香港投行人士向第一财经记者表示，香港IPO都是由海外机构投资者主导，定价比较理性，虽然均胜电子一度沾上人形机器人概念，但海外投资者更多还是看成汽车零部件，跟其他零部件企业的估值相当。均胜电子主营汽车电子解决方案、汽车安全解决方案及其他汽车零部件。汽车电子板块涵盖智能座舱、新能源管理系统和人机交互产品；汽车安全板块包括安全气囊、安全带、智能方向盘及集成式安全系统；其他部件涉及座舱结构件与电动车充配电系统。招股书称，智能座舱解决方案行业相对分散，行业竞争正逐步从单一产品的竞争转向集成智能座舱解决方案。凭借在技术、成本、供应链管理和服务方面的优势，中国公司在全球智能座舱解决方案市场的影响力正逐步增加。2024年，全球前五大智能座舱域控系统提供商合共占市场份额的45.6%，均胜电子来自全球智能座舱域控系统行业的收入为63亿元，市场份额约为8.9%，在全球排名第四。行业前景方面，招股书表示，日益严格的汽车安全法规推高单车被动安全成本，由2020年约1500元升至2029年约1800元，制造商加大侧面气囊、预紧式安全带等投入，带动相关产品单车成本稳步上升。2025年第三季度，均胜电子实现营业收入154.97亿元，同比增长10.25%，环比下降1.74%；归母净利润4.13亿元，同比增长35.40%，环比增长12.37%。不过，三季报当中公司并未解释营业收入环比下滑的原因。三季报当中均胜电子表示，随着材料降本、运营效率提升、产能转移优化等措施落地，前三季度整体毛利率同比提升2.7个百分点至18.3%，第三季度单季毛利率同比提升2.9个百分点至18.6%。其中，汽车安全业务前三季度毛利率同比提升2.4个百分点至约16.4%，第三季度单季升至约17.2%；汽车电子业务前三季度毛利率约20.8%，同比提升1.6个百分点。未来，公司将继续推进芯片国产化、气体发生器自产等降本方案，毛利率有望进一步提升。在毛利率改善的同时，公司严控期间费用，并加大智能驾驶等前沿领域研发投入，销售、管理、研发费用均有所增长。2025年第三季度，公司新获订单全生命周期总金额约402亿元，前三季度累计约714亿元，其中汽车安全业务约396亿元，汽车电子业务约318亿元。客户结构方面，头部自主品牌及造车新势力订单占比持续提升，成为主要驱动力。尽管公司称业务继续向好，但股东名单显示，“中国人寿保险股份有限公司－传统－普通保险产品－005L－CT001沪”第三季度减持均胜电子300万股，减持后仍持有619.45万股，占总股本0.44%。股价曾一个月内翻倍因机器人概念受到市场热捧，均胜电子股价在8月20日到9月20日的一个月内翻倍，随后回落。均胜电子在半年报中曾表示，当前汽车与机器人产业正迎来深度融合的关键节点。公司依托汽车零部件核心主业沉淀的研发实力与高端制造能力，战略延伸至机器人产业链上下游，以“汽车+机器人Tier1”的全新定位，为全球车企及机器人企业提供机器人关键零部件领域的软硬件一体化解决方案，积极打造第二增长曲线。报告期内，公司已开始全面布局人形机器人领域，并于2025年4月正式成立全资子公司宁波均胜具身智能机器人有限责任公司，快速搭建人才队伍，积极推进相关产品的研发和商业化落地，为国内外客户提供包括大小脑控制器、能源管理模块、高性能机身机甲材料等关键零部件以及机器人头部、胸腔总成等软硬件一体化解决方案。东吴证券研究报告关注到，8月21日，均胜电子发布机器人全域控制器胸腔及底盘总成方案，首创大小脑融合+供电散热一体化集成设计；8月26日，与阿里云达成AI全面合作，基于通义千问模型打造具备认知、决策与交互能力的机器人智能体；9月18日，发布机器人AI头部总成、基于英伟达Jetson 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伏伏伏伏伏伏伏伏伏伏，绿鞋呢","images":[{"img":"https://community-static.tradeup.com/news/c485eac042ade8ea513fd6caa6d9830e","width":"1080","height":"1938"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/497198563697616","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":303,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":496563444863008,"gmtCreate":1762254744804,"gmtModify":1762261180684,"author":{"id":"4194242826067422","authorId":"4194242826067422","name":"作手刚哥","avatar":"https://static.tigerbbs.com/51c883c0c383c72bc8fbe1a0820d2517","crmLevel":2,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"4194242826067422","idStr":"4194242826067422"},"themes":[],"title":"","htmlText":"哦，那就涨50％给你看","listText":"哦，那就涨50％给你看","text":"哦，那就涨50％给你看","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/496563444863008","repostId":"2580842877","repostType":2,"repost":{"id":"2580842877","kind":"news","pubTimestamp":1762251852,"share":"https://www.laohu8.com/m/news/2580842877?lang=zh_CN&edition=full","pubTime":"2025-11-04 18:24","market":"hk","language":"zh","title":"均胜电子累计调整25%，三季度遭中国人寿减持｜IPO观察","url":"https://stock-news.laohu8.com/highlight/detail?id=2580842877","media":"第一财经","summary":"11月4日，均胜电子跌4.43%，报收29.57元，相比9月19日近40元的高点累计调整超过25%。受益机器人概念，均胜电子在第三季度股价一度翻倍。2025年第三季度，均胜电子实现营业收入154.97亿元，同比增长10.25%，环比下降1.74%；归母净利润4.13亿元，同比增长35.40%，环比增长12.37%。三季报当中均胜电子表示，随着材料降本、运营效率提升、产能转移优化等措施落地，前三季度整体毛利率同比提升2.7个百分点至18.3%，第三季度单季毛利率同比提升2.9个百分点至18.6%。","content":"<div>\n<p>汽车安全电子龙头股均胜电子（600699.SH）11月3日晚间公布了港股上市发行价，定价为22港元，相比A股最新收盘价折价大约32%。11月4日，均胜电子跌4.43%，报收29.57元，相比9月19日近40元的高点累计调整超过25%。有业内人士表示，虽然有机器人新业务支撑，但这部分业务对业绩贡献不好预判，海外投资者依然按照汽车零部件行业作为参考定价，市盈率是25倍左右。受益机器人概念，均胜电子在...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20251104182802a48787e1&s=b\">网页链接</a>\n\n</div>\n","source":"tencent","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>均胜电子累计调整25%，三季度遭中国人寿减持｜IPO观察</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; 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width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n均胜电子累计调整25%，三季度遭中国人寿减持｜IPO观察\n</h2>\n\n<h4 class=\"meta\">\n\n\n2025-11-04 18:24 北京时间&nbsp;&nbsp;&nbsp;<a href=http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20251104182802a48787e1&s=b><strong>第一财经</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>汽车安全电子龙头股均胜电子（600699.SH）11月3日晚间公布了港股上市发行价，定价为22港元，相比A股最新收盘价折价大约32%。11月4日，均胜电子跌4.43%，报收29.57元，相比9月19日近40元的高点累计调整超过25%。有业内人士表示，虽然有机器人新业务支撑，但这部分业务对业绩贡献不好预判，海外投资者依然按照汽车零部件行业作为参考定价，市盈率是25倍左右。受益机器人概念，均胜电子在...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20251104182802a48787e1&s=b\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU2097828474.EUR":"AZ EQUITY CHINA \"A\" (EUR) ACC A","LU0588546209.SGD":"Eastspring Investments - China Equity Fund AS SGD","LU0173614495.USD":"富达中国焦点A","BK1550":"内险股","IE0032431581.USD":"PINEBRIDGE GREATER CHINA EQUITY \"A\" (USD) ACC","BK1521":"挪威政府全球养老基金持仓","02628":"中国人寿","SG9999012728.SGD":"United Asian Income Fund Dis SGD","LU2097828557.USD":"AZ EQUITY CHINA \"A\" (USD) 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ACC"},"source_url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20251104182802a48787e1&s=b","is_english":false,"share_image_url":"https://static.laohu8.com/9a95c1376e76363c1401fee7d3717173","article_id":"2580842877","content_text":"汽车安全电子龙头股均胜电子（600699.SH）11月3日晚间公布了港股上市发行价，定价为22港元，相比A股最新收盘价折价大约32%。11月4日，均胜电子跌4.43%，报收29.57元，相比9月19日近40元的高点累计调整超过25%。有业内人士表示，虽然有机器人新业务支撑，但这部分业务对业绩贡献不好预判，海外投资者依然按照汽车零部件行业作为参考定价，市盈率是25倍左右。受益机器人概念，均胜电子在第三季度股价一度翻倍。不过，10月29日晚间公布的三季报显示，均胜电子环比收入出现了负增长，不能满足投资者预期，中国人寿在第三季度也减持了超过300万股，仍然持有619.45万股，持仓占总股本比例下降到0.44%，随后均胜电子连跌多日。港股IPO折价32%，第三季度收入环比下滑11月4日，均胜电子公告，公司确定本次H股发行价格为每股22港元，预计将于2025年11月6日在香港联交所主板挂牌交易。该发行价对应市盈率约25倍左右，较A股最新收盘价折价32%。有香港投行人士向第一财经记者表示，香港IPO都是由海外机构投资者主导，定价比较理性，虽然均胜电子一度沾上人形机器人概念，但海外投资者更多还是看成汽车零部件，跟其他零部件企业的估值相当。均胜电子主营汽车电子解决方案、汽车安全解决方案及其他汽车零部件。汽车电子板块涵盖智能座舱、新能源管理系统和人机交互产品；汽车安全板块包括安全气囊、安全带、智能方向盘及集成式安全系统；其他部件涉及座舱结构件与电动车充配电系统。招股书称，智能座舱解决方案行业相对分散，行业竞争正逐步从单一产品的竞争转向集成智能座舱解决方案。凭借在技术、成本、供应链管理和服务方面的优势，中国公司在全球智能座舱解决方案市场的影响力正逐步增加。2024年，全球前五大智能座舱域控系统提供商合共占市场份额的45.6%，均胜电子来自全球智能座舱域控系统行业的收入为63亿元，市场份额约为8.9%，在全球排名第四。行业前景方面，招股书表示，日益严格的汽车安全法规推高单车被动安全成本，由2020年约1500元升至2029年约1800元，制造商加大侧面气囊、预紧式安全带等投入，带动相关产品单车成本稳步上升。2025年第三季度，均胜电子实现营业收入154.97亿元，同比增长10.25%，环比下降1.74%；归母净利润4.13亿元，同比增长35.40%，环比增长12.37%。不过，三季报当中公司并未解释营业收入环比下滑的原因。三季报当中均胜电子表示，随着材料降本、运营效率提升、产能转移优化等措施落地，前三季度整体毛利率同比提升2.7个百分点至18.3%，第三季度单季毛利率同比提升2.9个百分点至18.6%。其中，汽车安全业务前三季度毛利率同比提升2.4个百分点至约16.4%，第三季度单季升至约17.2%；汽车电子业务前三季度毛利率约20.8%，同比提升1.6个百分点。未来，公司将继续推进芯片国产化、气体发生器自产等降本方案，毛利率有望进一步提升。在毛利率改善的同时，公司严控期间费用，并加大智能驾驶等前沿领域研发投入，销售、管理、研发费用均有所增长。2025年第三季度，公司新获订单全生命周期总金额约402亿元，前三季度累计约714亿元，其中汽车安全业务约396亿元，汽车电子业务约318亿元。客户结构方面，头部自主品牌及造车新势力订单占比持续提升，成为主要驱动力。尽管公司称业务继续向好，但股东名单显示，“中国人寿保险股份有限公司－传统－普通保险产品－005L－CT001沪”第三季度减持均胜电子300万股，减持后仍持有619.45万股，占总股本0.44%。股价曾一个月内翻倍因机器人概念受到市场热捧，均胜电子股价在8月20日到9月20日的一个月内翻倍，随后回落。均胜电子在半年报中曾表示，当前汽车与机器人产业正迎来深度融合的关键节点。公司依托汽车零部件核心主业沉淀的研发实力与高端制造能力，战略延伸至机器人产业链上下游，以“汽车+机器人Tier1”的全新定位，为全球车企及机器人企业提供机器人关键零部件领域的软硬件一体化解决方案，积极打造第二增长曲线。报告期内，公司已开始全面布局人形机器人领域，并于2025年4月正式成立全资子公司宁波均胜具身智能机器人有限责任公司，快速搭建人才队伍，积极推进相关产品的研发和商业化落地，为国内外客户提供包括大小脑控制器、能源管理模块、高性能机身机甲材料等关键零部件以及机器人头部、胸腔总成等软硬件一体化解决方案。东吴证券研究报告关注到，8月21日，均胜电子发布机器人全域控制器胸腔及底盘总成方案，首创大小脑融合+供电散热一体化集成设计；8月26日，与阿里云达成AI全面合作，基于通义千问模型打造具备认知、决策与交互能力的机器人智能体；9月18日，发布机器人AI头部总成、基于英伟达Jetson Thor芯片的全域控制器及新一代能源管理产品，与此前胸腔底盘、传感器等方案形成完整矩阵，具备系统化支持能力。均胜电子在招股书表示，汽车行业智能电动化、具身智能机器人等是目前新兴产业的主要发展趋势，但仍存在整体商业化进度慢于预期的风险。未来，公司也将持续推进新兴领域产品系的布局和新客户的开拓，并利用公司在这些新兴业务领域的优势，与上下游公司广泛合作，共同推进新兴领域业务的商业化落地。关于主营业务前景，有业内人士担忧2026年新能源汽车免征购置税结束对行业的影响。广州一位公募基金人士向第一财经记者称：“过去的消费补贴和税收优惠对市场影响都要重视，新能源汽车产销量来看，2025年内或许能维持增速，但明年的确不好说，预计2026年开始同比增速会放缓，市场影响需要观察。”2025年是中国对新能源汽车免征车辆购置税的最后一年，明年起将恢复征税。根据2023年财政部等公布的《关于延续和优化新能源汽车车辆购置税减免政策的公告》（下称《公告》），对购置日期在2026年1月1日至2027年12月31日期间的新能源汽车减半征收车辆购置税，每辆新能源乘用车减税额不超过1.5万元。这意味着2026年和2027年购买新能源汽车的个人或单位，将恢复征收车辆购置税，目前车购税税率为10%，新能源汽车减半征税意味着实际税率为5%。(本文来自第一财经)","news_type":1,"symbols_score_info":{"02628":1.5,"00699":0.9}},"isVote":1,"tweetType":1,"viewCount":441,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":438093763199288,"gmtCreate":1747991730563,"gmtModify":1747993361323,"author":{"id":"4194242826067422","authorId":"4194242826067422","name":"作手刚哥","avatar":"https://static.tigerbbs.com/51c883c0c383c72bc8fbe1a0820d2517","crmLevel":2,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"4194242826067422","idStr":"4194242826067422"},"themes":[],"htmlText":"<a 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