鑫铂股份获2551.86万政府补助：业绩纾困作用与潜在风险梳理

基础金属	铜电解铜铜精矿铜管铜棒废铜铜排铜合金精铜杆再生铜杆铜板带铝铝土矿氧化铝电解铝铝辅料铝棒铝合金锭废铝铝杆铝型材铝板卷铅铅精矿铅锭铅蓄电池再生精铅还原铅废铅蓄电池铅合金锌锌精矿电解锌锌合金氧化锌锌粉锡锡精矿锡锭锡材镁
稀有金属	稀土稀土矿稀土氧化物稀土金属钕铁硼稀散金属锑铋铟锗镓硒钽锆贵金属白银钨钨精矿 APT(仲钨酸铵)钨粉碳化钨钨酸钠钨条钨铁钨材钼钼精矿工业氧化钼钼铁钼化工高纯三氧化钼钼金属钛钛精矿钛渣四氯化钛海绵钛钛金属钛白粉硒
新能源	锂锂矿锂化合物金属锂镍镍矿镍铁精炼镍镍盐高冰镍 MHP 钴电解钴钴粉氯化钴四氧化三钴硫酸钴钴中间品氧化钴碳酸钴钴酸锂锰锰矿电解锰电池级硫酸锰锂电正负极三元前驱体磷酸铁正极材料石油焦针状焦包覆沥青人造石墨硅碳负极硅氧负极硅

基础金属

铜电解铜铜精矿铜管铜棒废铜铜排铜合金精铜杆再生铜杆铜板带铝铝土矿氧化铝电解铝铝辅料铝棒铝合金锭废铝铝杆铝型材铝板卷铅铅精矿铅锭铅蓄电池再生精铅还原铅废铅蓄电池铅合金锌锌精矿电解锌锌合金氧化锌锌粉锡锡精矿锡锭锡材镁

稀有金属

稀土稀土矿稀土氧化物稀土金属钕铁硼 稀散金属锑铋铟锗镓硒钽锆 贵金属白银钨钨精矿 APT(仲钨酸铵)钨粉碳化钨钨酸钠钨条钨铁钨材钼钼精矿工业氧化钼钼铁钼化工高纯三氧化钼钼金属钛钛精矿钛渣四氯化钛海绵钛钛金属钛白粉硒

新能源

锂锂矿锂化合物金属锂镍镍矿镍铁精炼镍镍盐高冰镍 MHP 钴电解钴钴粉氯化钴四氧化三钴硫酸钴钴中间品氧化钴碳酸钴钴酸锂锰锰矿电解锰电池级硫酸锰 锂电正负极三元前驱体磷酸铁正极材料石油焦针状焦包覆沥青人造石墨硅碳负极硅氧负极硅

鑫铂股份获2551.86万政府补助：业绩纾困作用与潜在风险梳理

2025-10-11 16:58:08 来源：北方有色网责任编辑：王欣悦

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鑫铂股份子公司安徽鑫铂新能源汽车零部件有限公司于2025年9月29日收到2551.86万元政府补助，其中1551.86万元(占比60.8%)为与资产相关补助，按会计准则计入递延收益并随资产折旧分期结转损益，若按5年常规折旧测算，年均约贡献310万元利润;另有1000万元(占比39.2%)为与收益相关补助，将直接计入2025年四季度当期损益。从财务影响看，该笔补助对公司业绩有明显提振作用，1000万元收益补助占2025年上半年归母净利润(3688.77万元)的27.1%，全额计入可提升四季度利润59.4%，还可能推动全年净利率提升0.3-0.5个百分点。政策背景上，收益类补助精准匹配《安徽省支持新能源汽车产业若干政策》(符合关键零部件技术创新项目最高补助标准)，资产类补助参照滁州光伏设备补贴政策反推或对应约7759万元设备投资，且公司2022年曾获766万元“三重一创”省级补助，此次补助规模较当时增长233%，体现安徽省打造新能源汽车产业集群背景下对其的重点扶持。市场反应方面，公告发布当日(10月9日)公司股价上涨0.71%，温和反映补助对业绩的边际改善;从业绩纾困角度，鉴于公司2025年净利润同比降幅达75.74%，该笔补助可部分对冲营收下滑压力，有望显著改善年报数据。不过仍需注意相关风险：具体摊销年限与损益计入时点需审计机构最终确认，存在调整可能;补助占净利润比重较高，未来新能源产业政策收紧或影响盈利稳定性;同时新能源汽车零部件行业竞争加剧，补助带来的利润改善或难以持续。

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鑫铂股份获2551.86万政府补助：业绩纾困作用与潜在风险梳理

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