https://216612.xyz/tags/%E4%B8%AD%E8%88%B9%E7%89%B9%E6%B0%94/Recent content in 中船特气 on 216612Hugozh-cnFri, 17 Jul 2026 19:07:53 +0800https://216612.xyz/posts/20260717-zhong-chuan-te-qi-ban-nian-bao-fen-xi/Fri, 17 Jul 2026 19:07:53 +0800https://216612.xyz/posts/20260717-zhong-chuan-te-qi-ban-nian-bao-fen-xi/<h2 id="一核心财务数据">一、核心财务数据</h2> <table> <thead> <tr> <th>指标</th> <th>2026 H1</th> <th>同比</th> <th>2025全年</th> <th>2026 Q1</th> <th>2026 Q2</th> </tr> </thead> <tbody> <tr> <td>营收</td> <td><strong>19.04亿</strong></td> <td><strong>+83.1%</strong></td> <td>22.6亿</td> <td>7.01亿</td> <td>12.03亿</td> </tr> <tr> <td>归母净利</td> <td><strong>3.48亿</strong></td> <td><strong>+95.6%</strong></td> <td>3.46亿</td> <td>1.01亿</td> <td>2.47亿</td> </tr> <tr> <td>扣非净利</td> <td><strong>3.26亿</strong></td> <td><strong>+117.1%</strong></td> <td>2.38亿</td> <td>0.91亿</td> <td>2.35亿</td> </tr> <tr> <td>净利率</td> <td>18.3%</td> <td>+1.2pct</td> <td>15.3%</td> <td>14.4%</td> <td>20.5%</td> </tr> <tr> <td>EPS</td> <td>0.66元</td> <td>+94.1%</td> <td>0.65元</td> <td>0.19元</td> <td>0.47元</td> </tr> <tr> <td>经营现金流</td> <td>-2.41亿</td> <td>-172%</td> <td>+6.77亿</td> <td>-1.28亿</td> <td>-1.13亿</td> </tr> </tbody> </table> <p>H1归母净利润3.48亿，Q2单季归母2.47亿，环比Q1增长143%，涨价传导正在加速。</p> <h2 id="二业务拆解wf是唯一的增长引擎">二、业务拆解：WF₆是唯一的增长引擎</h2> <p>公司出于商业竞争原因不公开披露产品拆分比例，但公告明确指出：<strong>六氟化钨营业收入同比增长近3倍</strong>。据此推算：</p> <table> <thead> <tr> <th>业务</th> <th>2025 H1（估）</th> <th>2026 H1（估）</th> <th>变化</th> </tr> </thead> <tbody> <tr> <td><strong>WF₆</strong></td> <td>~4.5亿</td> <td><strong>~13.5亿</strong></td> <td><strong>3倍↑</strong></td> </tr> <tr> <td>三氟甲磺酸</td> <td>1.44亿</td> <td><strong>~2.2亿</strong></td> <td>+53%</td> </tr> <tr> <td>NF₃/其他电子特气</td> <td>~4.0亿</td> <td><strong>~3.0亿</strong></td> <td>承压下滑</td> </tr> <tr> <td>其他</td> <td>~0.5亿</td> <td><strong>~0.3亿</strong></td> <td>—</td> </tr> <tr> <td><strong>合计</strong></td> <td><strong>10.40亿</strong></td> <td><strong>19.04亿</strong></td> <td>+83%</td> </tr> </tbody> </table> <p>WF₆贡献了H1营收增量的约85%，是绝对的单一增长极。三氟甲磺酸稳步增长但体量小。NF₃受行业价格下行拖累，收入有所收缩。</p>