精锻科技发布2025年年度报告摘要：净利润下滑 股东分红引关注

年度业绩及财务要点

江苏太平洋精锻科技股份有限公司（精锻科技，300258）日前发布了2025年年度报告摘要，报告显示公司整体业绩出现明显下滑，盈利能力承压，但依然维持分红方案，显示对未来发展的信心。

• 2025年归属于上市公司股东的净利润为1.29亿元，同比下降19.50%。
• 归属于上市公司股东的扣除非经常性损益的净利润为7760万元，同比大幅下降36.14%。
• 营业收入基本持平，达到20.39亿元，同比微增0.66%。
• 经营活动产生的现金流量净额为4.71亿元，同比下降12.96%。
• 基本每股收益为0.2385元，较去年下降28.05%。
• 加权平均净资产收益率为2.94%，下滑1.28个百分点。
• 公司总资产达73.65亿元，同比增长3.85%；归属于上市公司股东的净资产为47.28亿元，同比增长24.54%。

分红方案与股本变化

精锻科技董事会审议通过2025年度利润分配预案：以573,317,182股为基数，向全体股东每10股派发现金红利0.45元（含税），不送红股，不以资本公积金转增股本。分红持续或对市场情绪形成一定支撑。

主营业务表现及新产品开发

• 公司专注于汽车差速器锥齿轮、变速器齿轮、EDL（电子差速锁）齿轮、同步器齿圈、离合器驱动盘毂、新能源汽车电机轴及差速器总成、高端农业机械齿轮等领域。
• 主要客户包括大众、通用、福特、奔驰、奥迪、宝马、丰田、日产、沃尔沃、比亚迪、小米、蔚来等国内外知名品牌。
• 报告期内新立项产品项目80项，样件开发19项，完成样件/小批量试制91项，批量生产新项目32项，体现研发创新能力和全球竞争力。

股东结构与控制权

• 公司前十大股东中，江苏大洋投资有限公司持股33.16%，为控股股东，实际控制人夏汉关持有大洋投资45.04%股权，与黄静为一致行动人。
• 截至报告期末，公司普通股股东总数为38,475。
• 无优先股股东，无表决权差异安排。
• 公司未披露存在尚未兑付的债券事项。

对投资者的关注重点及可能影响股价的因素

• 公司利润下滑明显，扣非净利润降幅较大，显示主营业务承压，或引发市场对公司业绩下行的担忧，有可能对股价形成压力。
• 公司现金流依然充裕、分红持续，反映公司财务稳健，为投资者提供一定信心支撑。
• 公司新产品开发能力强，覆盖国内外主流主机厂，未来新项目量产或将成为业绩新的增长点。
• 当前无重大未披露事项或债券风险。

结论

精锻科技2025年度报告显示，公司在汽车零部件领域维持领先地位，持续推进新产品开发和全球化布局。但盈利能力显著下滑，扣非净利润降幅较大，需关注行业景气度变化及新项目后续放量情况。公司现金流稳定、持续分红，短期或对市场情绪有一定正向作用，但中长期仍需关注主营业务盈利恢复情况。

免责声明：本文信息仅供投资参考，不构成任何投资建议。投资有风险，决策请谨慎。

English Version

Jiangsu Pacific Precision Forging Technology: 2025 Annual Report Summary – Profit Decline and Dividend Plan in Focus

Key Financial Highlights

• Net profit attributable to shareholders in 2025 was RMB 128 million, down 19.5% year-on-year.
• Net profit after deduction of non-recurring gains and losses was RMB 77.6 million, a steep 36.14% drop year-on-year.
• Operating revenue was RMB 2.04 billion, nearly flat with a slight increase of 0.66%.
• Net cash flow from operating activities was RMB 471 million, a 12.96% decrease.
• Basic earnings per share was RMB 0.2385, down 28.05%.
• Weighted average return on equity was 2.94%, down 1.28 percentage points.
• Total assets reached RMB 7.37 billion, up 3.85%; shareholder equity was RMB 4.73 billion, up 24.54%.

Dividend Plan and Share Capital

The board approved a cash dividend plan: based on 573,317,182 shares, a cash dividend of RMB 0.45 (tax included) per 10 shares will be distributed, with no bonus shares or capital reserve conversion. The continued dividend may provide some support to market sentiment.

Main Business and Product Innovation

• Company focuses on automotive differential bevel gears, transmission gears, EDL (electronic differential lock) gears, synchronizer rings, clutch hub parts, NEV motor shafts, differential assemblies, and high-end agricultural machinery gears.
• Main customers include global brands like Volkswagen, GM, Ford, Mercedes, Audi, BMW, Toyota, Nissan, Volvo, BYD, Xiaomi, NIO, etc.
• 80 new product projects initiated, 19 in sample development, 91 completed sample/small batch trials, and 32 mass production projects, showing strong R&D and global competitiveness.

Shareholder Structure and Control

• Top shareholder Jiangsu Dayang Investment holds 33.16%; actual controller Mr. Xia Hanguan holds 45.04% of Dayang and is acting in concert with shareholder Ms. Huang Jing.
• As of the reporting period, total ordinary shareholders: 38,475.
• No preferred shareholders; no differential voting arrangements.
• No outstanding bonds at the report approval date.

Investor Focus and Potential Share Price Impact

• Significant drop in profits, especially non-recurring net profit, signals business pressure and could weigh on share price.
• Stable cash flow and continued dividend payout reflect financial stability and may support investor confidence.
• Strong product innovation and new project ramp-up could drive future growth.
• No undisclosed major risks or bond issues at present.

Conclusion

Jiangsu Pacific Precision Forging remains a leader in China’s auto parts sector, with ongoing innovation and a broad global customer base. However, profit declines highlight operational pressure. Investors should watch for recovery in core business profits and the success of new projects. The company’s dividend and cash flow remain positive signals in the short term, but long-term fundamentals warrant attention.

Disclaimer: The above content is for information only and does not constitute investment advice. Please make investment decisions with caution.

View 精锻科技 Historical chart here