【券商聚焦】兴业证券维持创科实业(00669)“增持”评级指公司有望凭借RYOBI等品牌推动收入增长

金吾财讯

Aug 08, 2025

金吾财讯 | 兴业证券发研报指，2025H1创科实业(00669)收入同比增长7.1%，达到78.33亿美元。这一增长主要得益于公司旗下 Milwaukee 和 RYOBI 两大品牌业务的强劲表现，以及公司在全球市场的持续拓展和运营效率的提升。毛利率同比增加0.34个百分点至40.3%，主要得益于高利润率的 Milwaukee 业务增长、持续提升的运营效率以及整个生产与采购网络生产力的提升。净利润同比增长 14.2%，达到6.28 亿美元。中期每股派息 16.09 美仙，同比增长 15.7%，派息率约 47%。该机构表示，创科实业有望凭借 Milwaukee 品牌在专业市场的持续创新和RYOBI品牌在消费市场的竞争力，推动收入增长。预计 2026 年Milwaukee 品牌销售额将实现两位数增长，或将得益于其在数据中心建设、矿业和运输维护等垂直领域的深耕，以及新产品开发的推动。RYOBI 品牌销售额预计增长中单位数，或将得益于ONE+18伏特电池平台的持续扩张和地理市场的拓展。截至 2025 年8 月6 日，公司市盈率2年分位数为 15.9%。我们预计 2025-2027 年的营业收入将分别达到161/176/190亿美元，同比增长 9.9%/9.7%/7.7%。归母净利润分别达 13.2/14.8/16.6 亿美元，同比变动+17.3%/+12.5%/+12.3%。维持“增持”评级。

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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【券商聚焦】兴业证券维持创科实业(00669)“增持”评级 指公司有望凭借RYOBI等品牌推动收入增长\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1086022552\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/19a93586c3b023ec6ebfed568990555c);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">金吾财讯 </p>\n<p class=\"h-time\">2025-08-08 15:18</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><body><p>金吾财讯 | <a href=\"https://laohu8.com/S/601377\">兴业证券</a>发研报指，2025H1<a href=\"https://laohu8.com/S/00669\">创科实业</a>(00669)收入同比增长7.1%，达到78.33亿美元。这一增长主要得益于公司旗下 Milwaukee 和 RYOBI 两大品牌业务的强劲表现，以及公司在全球市场的持续拓展和运营效率的提升。毛利率同比增加0.34个百分点至40.3%，主要得益于高利润率的 Milwaukee 业务增长、持续提升的运营效率以及整个生产与采购网络生产力的提升。净利润同比增长 14.2%，达到6.28 亿美元。中期每股派息 16.09 美仙，同比增长 15.7%，派息率约 47%。该机构表示，创科实业有望凭借 Milwaukee 品牌在专业市场的持续创新和RYOBI品牌在消费市场的竞争力，推动收入增长。预计 2026 年Milwaukee 品牌销售额将实现两位数增长，或将得益于其在数据中心建设、矿业和运输维护等垂直领域的深耕，以及新产品开发的推动。RYOBI 品牌销售额预计增长中单位数，或将得益于ONE+18伏特电池平台的持续扩张和地理市场的拓展。截至 2025 年8 月6 日，公司市盈率2年分位数为 15.9%。我们预计 2025-2027 年的营业收入将分别达到161/176/190亿美元，同比增长 9.9%/9.7%/7.7%。归母净利润分别达 13.2/14.8/16.6 亿美元，同比变动+17.3%/+12.5%/+12.3%。维持“增持”评级。</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"00669","symbol_name":"创科实业","start_time":0,"source_url":"1963730","article_id":"2557854549","we_media_id":"1086022552","thumbnails":["https://static.szfiu.com/news/20241108/MjAwMmJhMzhlMzU2ODgyNzA0NzY4MTcyNA==.jpg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2557854549","pubTimestamp":1754637536,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"金吾财讯","introduction":"「金吾财讯」以精准用户需求为切入点，打造一站式港美股投资细分领域品牌。依托战略合作伙伴凤凰网财经，将港美股内容传播到全球华人圈。","home_visible":1,"id":"1086022552","head_image":"https://static.tigerbbs.com/19a93586c3b023ec6ebfed568990555c"},"summary":"该机构表示，创科实业有望凭借 Milwaukee 品牌在专业市场的持续创新和RYOBI品牌在消费市场的竞争力，推动收入增长。RYOBI 品牌销售额预计增长中单位数，或将得益于ONE+18伏特电池平台的持续扩张和地理市场的拓展。维持“增持”评级。","collect":0,"end_time":0,"defaultTopTitle":"","property":["rate"],"viewcount":null,"language":"zh","relate_stocks":{"601377":"兴业证券","00669":"创科实业"},"translate_title":"[Brokerage Focus] Industrial Securities maintains the \"overweight\" rating of Chuangke Industries (00669), indicating that the company is expected to promote revenue growth with brands such as RYOBI","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"601377":1,"00669":1},"content_text":"金吾财讯 | 兴业证券发研报指，2025H1创科实业(00669)收入同比增长7.1%，达到78.33亿美元。这一增长主要得益于公司旗下 Milwaukee 和 RYOBI 两大品牌业务的强劲表现，以及公司在全球市场的持续拓展和运营效率的提升。毛利率同比增加0.34个百分点至40.3%，主要得益于高利润率的 Milwaukee 业务增长、持续提升的运营效率以及整个生产与采购网络生产力的提升。净利润同比增长 14.2%，达到6.28 亿美元。中期每股派息 16.09 美仙，同比增长 15.7%，派息率约 47%。该机构表示，创科实业有望凭借 Milwaukee 品牌在专业市场的持续创新和RYOBI品牌在消费市场的竞争力，推动收入增长。预计 2026 年Milwaukee 品牌销售额将实现两位数增长，或将得益于其在数据中心建设、矿业和运输维护等垂直领域的深耕，以及新产品开发的推动。RYOBI 品牌销售额预计增长中单位数，或将得益于ONE+18伏特电池平台的持续扩张和地理市场的拓展。截至 2025 年8 月6 日，公司市盈率2年分位数为 15.9%。我们预计 2025-2027 年的营业收入将分别达到161/176/190亿美元，同比增长 9.9%/9.7%/7.7%。归母净利润分别达 13.2/14.8/16.6 亿美元，同比变动+17.3%/+12.5%/+12.3%。维持“增持”评级。","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1,"need_auth":false,"code":"91000000","status":"200"}}}