The Elec EnglishCodex · 实盘不做把握 6/10
北京时间·🕒 发布 21:10:23时区推断·⟳ 抓取 21:14:55·⚡ 决策 07-23 21:24:34 +9m39s·95.8 天前
LS Electric二季度营收1.577万亿韩元、营业利润1785亿韩元并创历史新高
二季度营收1.577万亿韩元、营业利润1785亿韩元，同比分别增长32.2%和64.4%，新增订单约2.1万亿韩元，在手订单约7万亿韩元。
📄 原文The Elec English↗ 原文
LS Electric Posts Record Q2 Earnings as Order Backlog Reaches KRW 7 Trillion
LS Electric Co. posted record quarterly revenue and operating profit for the second quarter of 2026. The company said i…
不做 LS Electric（010120.KS）
业绩和订单方向强，但当日已涨17.26%且净利润低于一致预期，次日追高edge不足，不做。
展开详情(成交明细 / 研究档案 / 原文全文 / 决策记录链)
研究档案
消息传播链
- LS Electric披露二季度营收1.577万亿韩元、营业利润1785亿韩元，新订单约2.1万亿韩元、在手订单约7万亿韩元。
- Chosunbiz报道业绩创纪录由AI数据中心配电和变压器需求驱动。市场反应:010120.KS最新较前收上涨17.26%。
- Yonhap报道净利润1158亿韩元同比增72.2%，但低于分析师平均预期1246亿韩元。
关键理由
- 二季度营收1.577万亿韩元、营业利润1785亿韩元，同比分别增长32.2%和64.4%，新增订单约2.1万亿韩元，在手订单约7万亿韩元。
- 定量库显示LS Electric 2025营收4.96万亿韩元、海外收入约47%，2026E订单指引曾上修至5万亿韩元，数据中心和美国电力设备敞口真实。
- 按当前市值约190.7亿韩元工具口径不可用且疑似币种缩放异常，改用收入基数判断：单季营收约为2025全年收入的约32%，在手订单约为2025收入的约1.4倍，基本面方向强。
主要风险
- Yonhap称二季度净利润1158亿韩元低于分析师预期1246亿韩元，且010120.KS当日已上涨17.26%，追次日开盘的见光死风险高。
- KB反向检索未找到明确新增利空，但近期20日跌18%且日波动高，说明资金拥挤和波动都很大。
反向证据
- 做多前查反向 · 来源 kb_search · 影响 weakens
内部KB未命中LS Electric新增实质利空，反证主要来自公开报道的净利润低于预期和当日大涨。
检索:LS Electric bearish risk valuation transformer order backlog North America 2026 - 做多前查反向 · 来源 web · 日期 2026-07-23 · 影响 weakens
Yonhap披露净利润低于分析师预期，说明业绩并非全口径超预期。
检索:LS Electric 2026 second quarter revenue KRW 1.577 trillion operating profit 178.5 billion 原文 ↗
工具调用 · 历史记录,结果未知(5 种)
- search_processed_events · 结果未知
- stock_quote · 结果未知
- normalize_ticker · 结果未知
- kb_search · 结果未知
- query_modeling_kb · 结果未知
原文全文
展开原文 · 1,295 字
LS Electric Co. posted record quarterly revenue and operating profit for the second quarter of 2026.
The company said in a regulatory filing on July 23 that it reported consolidated revenue of KRW 1.577 trillion and operating profit of KRW 178.5 billion for the second quarter. The figures increased 32.2% and 64.4%, respectively, from a year earlier.
New orders totaled approximately KRW 2.1 trillion, while the company's order backlog rose by about KRW 1.4 trillion from the previous quarter to KRW 7 trillion.
Growth was driven by its data center power distribution business and extra-high-voltage (EHV) transformer business. Demand for power distribution solutions increased as investments in artificial intelligence (AI) data centers and electric power grids accelerated. Shipments of EHV transformers also expanded, particularly in North America.
Second-quarter revenue from EHV transformers climbed 91.2% from a year earlier. Revenue at subsidiary LS Power Solution increased 39%, while North American revenue reached approximately KRW 400 billion, marking a record high on a quarterly basis.
LS Electric said it plans to expand investment in its manufacturing bases in Utah and Texas to increase local production capacity and further strengthen its presence in the North American market.
The company said in a regulatory filing on July 23 that it reported consolidated revenue of KRW 1.577 trillion and operating profit of KRW 178.5 billion for the second quarter. The figures increased 32.2% and 64.4%, respectively, from a year earlier.
New orders totaled approximately KRW 2.1 trillion, while the company's order backlog rose by about KRW 1.4 trillion from the previous quarter to KRW 7 trillion.
Growth was driven by its data center power distribution business and extra-high-voltage (EHV) transformer business. Demand for power distribution solutions increased as investments in artificial intelligence (AI) data centers and electric power grids accelerated. Shipments of EHV transformers also expanded, particularly in North America.
Second-quarter revenue from EHV transformers climbed 91.2% from a year earlier. Revenue at subsidiary LS Power Solution increased 39%, while North American revenue reached approximately KRW 400 billion, marking a record high on a quarterly basis.
LS Electric said it plans to expand investment in its manufacturing bases in Utah and Texas to increase local production capacity and further strengthen its presence in the North American market.
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