Summary of Key Points Core Viewpoint - 易实精密 (836221) experienced a price increase of 3.91% with a trading volume of 3.38 billion yuan and a turnover rate of 31.59% on the day of reporting [2] Trading Activity - The stock was listed on the North Exchange due to its turnover rate reaching 31.59%, with institutional investors net selling 4.0155 million yuan [2] - The top five trading departments had a total transaction volume of 84.829 million yuan, with buying amounting to 37.2669 million yuan and selling at 47.5621 million yuan, resulting in a net sell of 10.2952 million yuan [2] Institutional Participation - Among the trading departments, one institutional specialized seat was noted, which had a buying amount of 2.1423 million yuan and a selling amount of 6.1578 million yuan, leading to a net sell of 4.0155 million yuan [2] Detailed Trading Data - The top five buying departments included: - Guojin Securities Shenzhen Branch: Buying 10.4822 million yuan, Selling 2.9227 million yuan - GF Securities Shenzhen Dongbin Road Branch: Buying 5.5823 million yuan, Selling 0.4897 million yuan - Dongfang Caifu Securities Lhasa East Ring Road Branch: Buying 4.8293 million yuan, Selling 3.9154 million yuan - Guotai Junan Securities Nanning Minzu Avenue Branch: Buying 4.6365 million yuan, Selling 0.2690 million yuan - Dongfang Caifu Securities Lhasa Tuanjie Road Branch: Buying 4.6075 million yuan, Selling 3.0485 million yuan [2] - The top five selling departments included: - Northeast Securities Heilongjiang Branch: Buying 0.00 million yuan, Selling 10.2452 million yuan - Bank of China International Securities Wuxi Financial Street Branch: Buying 0.00 million yuan, Selling 9.5006 million yuan - Guoxin Securities Shenzhen Hongling Middle Road Branch: Buying 4.1962 million yuan, Selling 6.7146 million yuan - Institutional Specialized: Buying 2.1423 million yuan, Selling 6.1578 million yuan - Donghai Securities Xiamen Jiahe Road Branch: Buying 0.7906 million yuan, Selling 4.2986 million yuan [2]

Investment Rating - The report maintains a "Buy" rating for the company [1] Core Views - The company is acquiring 51% of Wuxi Tongyi and aims to enhance its metal forming process chain, which is expected to improve its technical competitiveness and profitability [7] - The acquisition price is capped at 163 million yuan, with payments structured in three phases based on performance commitments [7] - The target company has a strong foundation in precision stamping technology, which will complement the company's existing capabilities and expand its product offerings [7] - The acquisition is projected to contribute significantly to the company's earnings, with an expected average net profit contribution of 16.32 million yuan per year from the acquired stake [7] - The report revises the net profit forecasts for 2025-2027 upwards, reflecting the positive impact of the acquisition [7] Financial Projections - Total revenue is projected to grow from 321.39 million yuan in 2024 to 699.20 million yuan in 2027, with a compound annual growth rate (CAGR) of 20.03% [1] - Net profit attributable to the parent company is expected to increase from 54.10 million yuan in 2024 to 108.89 million yuan in 2027, with a CAGR of 19.88% [1] - The earnings per share (EPS) is forecasted to rise from 0.47 yuan in 2024 to 0.94 yuan in 2027 [1] - The price-to-earnings (P/E) ratio is projected to decrease from 37.69 in 2024 to 18.72 in 2027, indicating improved valuation over time [1] Market Data - The closing price of the stock is 17.57 yuan, with a market capitalization of approximately 2,038.82 million yuan [5] - The company has a price-to-book (P/B) ratio of 4.10 and a net asset value per share of 4.29 yuan [5][6]

Core Viewpoint - The company, 易实精密, announced its intention to acquire 51% of 通亦和精工科技 for a maximum price of 163 million yuan, aiming to enhance its technological capabilities and expand its business scope in the automotive parts industry [1][2]. Group 1: Acquisition Details - 易实精密 plans to purchase 51% of 通亦和 for no more than 163 million yuan, with the transaction not constituting a related party transaction [1]. - 通亦和 specializes in precision stamping technology and has become a supplier for several internationally recognized automotive parts companies [1]. Group 2: Financial Performance and Projections - The performance commitment period for 通亦和 is set from 2025 to 2027, with projected net profits of 28 million yuan, 32 million yuan, and 36 million yuan for the respective years after deducting non-recurring gains and losses [1]. - 易实精密 reported a revenue of 321 million yuan for 2024, reflecting a year-on-year growth of 16.56%, and a net profit of 54.1 million yuan, up 5.03% year-on-year [2]. Group 3: Strategic Implications - The acquisition is expected to enhance 易实精密's core technological competitiveness and profitability by diversifying its production processes to include precision stamping technology [2]. - The integration of customer resources between the two companies is anticipated to expand their customer base and improve risk resilience [2].

Mergers and Acquisitions - *ST Shengxun plans to acquire 51% equity of Zhejiang Zhongchen Urban Emergency Service Management Co., Ltd. for 28.05 million yuan to strengthen its capabilities in the fire emergency sector and support its integrated safety and emergency layout [1] - Yishijing Precision intends to purchase 51% equity of Tongyihe for no more than 163 million yuan, with the cash payment approved during the board meeting on June 13 [2] - Haikou Group disclosed progress on its major asset restructuring, aiming to acquire control of Hainan Travel Investment Duty-Free Goods Co., Ltd. The company faces challenges due to intense competition in the domestic duty-free market and slowing consumer demand [3] Shareholding Changes - Jinfei Kaida's controlling shareholder has cumulatively increased its stake by 1.94%, acquiring 11.656 million shares for a total amount of 54.9819 million yuan from December 12, 2024, to June 12, 2025 [4] - Kailer Co., Ltd.'s board secretary plans to increase shareholding by no less than 1 million yuan within six months from the announcement date [5] - Huayi Technology's subsidiary plans to reduce its stake by no more than 0.83%, equivalent to 121.68 million shares, within three months following the announcement [6] Risk Matters - Fangda Special Steel received a warning letter from the Jiangxi Securities Regulatory Bureau for not prudently recognizing revenue in 2024, leading to inaccuracies in its financial reports [7] - Huayang New Materials clarified that it does not possess rare earth permanent magnet attributes, despite significant stock price increases and media reports suggesting otherwise [8] - Beikong Technology stated that its rare earth permanent magnet materials business only has small-scale production capabilities, contributing less than 1% to its revenue, with limited short-term impact on performance [9][10]

证券代码：836221 证券简称：易实精密 公告编号：2025-042 江苏易实精密科技股份有限公司 关于签署股权收购意向协议的公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连 带法律责任。 特别提示： 1. 经江苏易实精密科技股份有限公司（以下简称"公司"、"本公司"） 于 2025 年 6 月 13 日召开的第四届董事会第四次会议审议通过，同意公司拟通过 支付现金的方式购买通亦和精工科技（无锡）股份有限公司（以下简称"通亦和"、 "标的公司"）51%的股权，公司与标的公司股东达成初步意向，并于同日共同 签署了《股权收购意向协议》（以下简称"意向协议"）。 2. 根据《北京证券交易所股票上市规则》等相关规定，及现阶段掌握的资 料，本次交易不构成关联交易，预计不构成《上市公司重大资产重组管理办法》 规定的重大资产重组。 3. 本次交易存在不确定性。本次签署的股权收购意向协议系公司与交易对 方就收购事宜达成的初步意向。具体交易价格等条款将在公司及其聘请的中介机 构进行尽职调查、审计等工作后，由双方进一步协商并签署正 ...

证券代码：836221 证券简称：易实精密 公告编号：2025-043 江苏易实精密科技股份有限公司 第四届董事会第四次会议决议公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连 带法律责任。 一、会议召开和出席情况 （二）会议出席情况 会议应出席董事 8 人，出席和授权出席董事 8 人。 （一）会议召开情况 1.会议召开时间：2025 年 6 月 13 日 2.会议召开地点：公司会议室 3.会议召开方式：现场召开 4.发出董事会会议通知的时间和方式：2025 年 6 月 2 日以书面及通讯方式发 出 5.会议主持人：董事长徐爱明 6.会议列席人员：公司监事及高级管理人员 7.召开情况合法、合规、合章程性说明： 本次会议的召集、召开、议案审议程序等方面符合有关法律、行政法规、部 门规章、规范性文件和《公司章程》及公司《董事会议事规则》的规定。 二、议案审议情况 （一）审议通过《关于签署股权收购意向协议的议案》 1.议案内容： 经全体董事讨论，同意公司拟通过支付现金的方式购买通亦和精工科技（无 锡）股份有限公司（以下 ...

Group 1 - The company plans to acquire 51% of Tongyi through cash payment, with a maximum transaction price of 163 million yuan [1] - The acquisition was approved during the fourth meeting of the fourth board of directors held on June 13, 2025 [1] - The performance commitment period for the target company is from 2025 to 2027, with net profits for the years 2025, 2026, and 2027 set at 28 million, 32 million, and 36 million yuan respectively [1]

证券代码：836221 证券简称：易实精密 公告编号：2025-041 江苏易实精密科技股份有限公司 关于变更持续督导保荐代表人的公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连 带法律责任。 公司董事会对朱军先生在担任公司保荐代表人期间所做的工作表示衷心感 谢！ 伏勇先生简历详见附件。 特此公告。 江苏易实精密科技股份有限公司（以下简称"公司"）近日收到保荐机构金 元证券股份有限公司（以下简称"金元证券"）出具的《关于更换江苏易实精密 科技股份有限公司持续督导保荐代表人的函》。 金元证券作为公司向不特定合格投资者公开发行股票并在北京证券交易所 上市的保荐机构，委派朱军先生和崔国峰先生担任公司持续督导保荐代表人，持 续督导期为 2023 年 6 月 8 日至 2026 年 12 月 31 日。 由于原保荐代表人朱军先生工作变动，无法继续从事对公司的持续督导工作。 为保证持续督导工作的有序进行，金元证券委派保荐代表人伏勇先生接替朱军先 生继续履行对公司的持续督导工作职责。 本次保荐代表人变更不影响金元证券对公司的持 ...

证券代码：836221 证券简称：易实精密 公告编号：2025-040 江苏易实精密科技股份有限公司 关于对外投资设立控股孙公司并取得营业执照的公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记 载、误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个 别及连带法律责任。 江苏易实精密科技股份有限公司（以下简称"公司"或"易实精密"）基于 战略布局和业务发展需要，以控股子公司马克精密金属成形（南通）有限公司 （以下简称"马克精密"）出资设立控股子公司马克表面处理科技（南通）有限 公司。新公司注册地址为南通海安市孙庄街道南海大道西 555 号海安电子信息 产业园表面处理中心 6-1-西区，注册资本为 1,000 万元人民币，类型为有限责 任公司，新公司已完成工商注册登记手续。 （二）是否构成重大资产重组 本次交易不构成重大资产重组。 根据《上市公司重大资产重组管理办法》的相关规定，公司本次对外投资 不构成重大资产重组。 一、对外投资概述 （一）基本情况 （三）是否构成关联交易 本次交易不构成关联交易。 （四）决策与审议程序 根据《北京证券交易所股票上市规则》《公司章程》《对外投资 ...

Group 1 - The company announced a 2024 annual equity distribution plan, which includes a bonus issue of 2 shares for every 10 shares held and a cash dividend of 4 yuan per share [1] - After the distribution, the total share capital will increase from 96.7 million shares to 116 million shares [1] - The record date for the equity distribution is set for June 5, 2025, with the ex-dividend date on June 6, 2025 [1]