Core Viewpoint - Meideng Technology (920227) experienced a significant increase of 22.82% in its stock price, with a trading volume of 4.63 billion yuan and a volatility of 31.83% on the day of reporting [2] Trading Data Summary - The stock's turnover rate reached 35.98%, leading to its listing on the trading board due to the notable price increase and trading activity [2] - The total net buying from brokerage seats amounted to 24.11 million yuan, with the top five brokerage seats contributing to a total transaction of 84.29 million yuan [2] - The largest buying brokerage was Guosheng Securities, with a purchase amount of 16.07 million yuan, while the largest selling brokerage was Ping An Securities, with a selling amount of 8.56 million yuan [2] Brokerage Activity Breakdown - The top five buying brokerages included: - Guosheng Securities, Hangzhou Construction Third Road: 16.07 million yuan - Great Wall Securities, Northwest Branch: 10.02 million yuan - Guoxin Securities, Shenzhen Internet Branch: 9.47 million yuan (with a selling amount of 0.16 million yuan) - Chuan Cai Securities, Chongqing Jiangbei Mouth: 8.18 million yuan (with a selling amount of 0.07 million yuan) - Guojin Securities, Shenzhen Branch: 7.82 million yuan (with a selling amount of 0.36 million yuan) [2] - The top five selling brokerages included: - Ping An Securities, Shenzhen Shennan East Road: 0.64 million yuan (with a buying amount of 0.00 million yuan) - Ping An Securities, Yinchuan Phoenix North Street: 0.63 million yuan (with a buying amount of 0.06 million yuan) - Huatai Securities, Nanjing Jiangning Tianyuan East Road: 0.48 million yuan (with a buying amount of 0.03 million yuan) - Donghai Securities, Shenzhen Shennan Avenue: 0.44 million yuan (with a buying amount of 0.00 million yuan) - Guoxin Securities, Shenzhen Tai Ran Ninth Road: 0.40 million yuan (with a buying amount of 0.11 million yuan) [2]

Core Points - Meidun Technology (920227) experienced a significant stock price increase of 22.82% on November 18, 2025, closing at 75.9 yuan [1] - The trading volume reached 6.3305 million shares, with a total transaction value of 463 million yuan [1] Trading Details - The top buying seat was from Guosheng Securities, which purchased 16.068 million yuan worth of shares [2] - The top selling seat was from Ping An Securities, which sold shares worth 8.5595 million yuan [2] - Other notable buying and selling activities included: - Changcheng Securities bought approximately 10.02 million yuan [2] - Guoxin Securities bought around 9.47 million yuan and sold about 1.56 million yuan [2] - Chuan Cai Securities bought approximately 8.18 million yuan and sold about 73.99 thousand yuan [2]

Core Viewpoint - Meidun Technology, established in 2013, is a pioneer in e-commerce SaaS software development and sales in China, focusing on providing SaaS software and value-added services to e-commerce merchants [1][3]. Group 1: Technology and R&D - The company emphasizes that technology is the core driver of efficiency, leading to increased R&D investments, with R&D expenses reaching 21.51 million yuan and an R&D expense ratio of 18.83% as of September [3][4]. - The technical team comprises over 50% of the workforce, with a total of 107 members, which supports the development of leading products and services [3][4]. - Meidun Technology has developed several core technologies in the e-commerce SaaS field, including a high-performance distributed massive data processing engine and patented methods for real-time data filtering and analysis [3][4]. Group 2: Market Position and Financial Performance - The company went public on the Beijing Stock Exchange on December 28, 2022, raising 176 million yuan for product optimization and R&D center construction, enhancing its product development capabilities [6][8]. - Post-listing, the company's market recognition and credibility have significantly improved, with its products leading in their respective categories on major e-commerce platforms [6][8]. - For the first three quarters of 2025, the company reported a revenue of 114 million yuan, a year-on-year increase of 5.17%, while net profit decreased by 4.22% to 29.90 million yuan [8][9]. Group 3: Future Strategy and Growth - The company plans to continue investing in AI technology, focusing on product iterations for intelligent customer service and expanding into new areas like live e-commerce and supply chain management [4][9]. - Meidun Technology aims to deepen data integration with major e-commerce platforms to enhance cross-platform collaboration efficiency [4][9]. - The company is committed to maintaining a stable cash dividend policy, with a minimum of 80% of profits distributed as dividends when mature and without significant capital expenditures [7][8].

Core Insights - The company, founded in 2013, is a pioneer in e-commerce SaaS software development and sales in China, providing SaaS software and value-added services to e-commerce merchants [1] Group 1: Technology and R&D - The company emphasizes that technology is the core driver of efficiency, with over 50% of its workforce in the technology team, reflecting a strong commitment to R&D [2] - As of September, the R&D expenses reached 21.51 million yuan, with an R&D expense ratio of 18.83%, indicating a 6.31% year-on-year increase [2] - The company has developed several core technologies in the e-commerce SaaS field, including a high-performance distributed data processing engine and real-time data filtering and analysis methods [2] Group 2: Product Development and Market Strategy - Future plans include continued investment in AI R&D, focusing on intelligent customer service and expanding into new areas like live e-commerce and supply chain management [3] - The company aims to create a comprehensive service system covering all aspects of e-commerce, enhancing operational efficiency and business growth for merchants [3][8] Group 3: Financial Performance and Market Position - The company went public on the Beijing Stock Exchange on December 28, 2022, raising 176 million yuan for product optimization and R&D center projects, which have strengthened its market position [4] - Since its IPO, the company has distributed a total of 117 million yuan in cash dividends, establishing a stable cash dividend policy [5][6] - For the first three quarters of 2025, the company reported revenue of 114 million yuan, a 5.17% year-on-year increase, while net profit decreased by 4.22% due to rising sales and R&D expenses [7] Group 4: Future Outlook - The company expects to maintain stable operations in the fourth quarter and throughout the year, with plans to expand into live e-commerce and continue AI technology development [7] - Future investments will focus on product development in live tools and order management, as well as exploring external investment opportunities to enhance the e-commerce SaaS ecosystem [7][8]

Market Overview - The IT services sector increased by 0.77% on November 13, with Meidun Technology leading the gains [1] - The Shanghai Composite Index closed at 4029.5, up 0.73%, while the Shenzhen Component Index closed at 13476.52, up 1.78% [1] Top Performers - Meidun Technology (code: 920227) closed at 66.28, up 13.57% with a trading volume of 18,600 [1] - Haixia Innovation (code: 300300) closed at 13.31, up 10.92% with a trading volume of 2,498,700 [1] - Guangyun Technology (code: 688365) closed at 14.89, up 8.77% with a trading volume of 135,300 [1] - Hongjing Technology (code: 301396) closed at 64.41, up 7.89% with a trading volume of 81,100 [1] - Huina Technology (code: 300609) closed at 41.20, up 7.29% with a trading volume of 101,400 [1] Underperformers - Huibo Yuntong (code: 301316) closed at 48.19, down 3.14% with a trading volume of 82,800 [2] - ST Haofeng (code: 300419) closed at 7.52, down 3.09% with a trading volume of 257,800 [2] - Rongke Technology (code: 300290) closed at 27.64, down 2.95% with a trading volume of 262,000 [2] Capital Flow - The IT services sector experienced a net outflow of 586 million yuan from institutional investors, while retail investors saw a net inflow of 560 million yuan [2] - Speculative funds had a net inflow of 25.8 million yuan [2] Individual Stock Capital Flow - Major net inflows were observed in Dawei Technology (code: 600589) with 77.82 million yuan, and Hongjing Technology (code: 301396) with 72.36 million yuan [3] - Notable net outflows were seen in Huina Technology (code: 300609) with 33.11 million yuan and Han De Information (code: 300170) with 26.83 million yuan [3]

证券代码：838227 证券简称：美登科技 公告编号：2025-134 杭州美登科技股份有限公司 自有资金委托理财进展公告 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。 根据《北京证券交易所股票上市规则》中相关规定，交易的成 交金额占上市公司最近一期经审计净资产的 10%以上且超过 1,000 万元的应当及时披露。 公司本次使用闲置自有资金购买理财产品的金额为 4,900 万 元。截止目前，公司使用自有闲置资金购买理财产品的未到期余额 为 10,961 万元，占公司 2024 年经审计净资产的 26.64%，达到上述 披露标准，现予以披露。 二、 本次委托理财情况 | 受托方 | 产品类 | | 产品金 | 预计年 | 产品 | 收益 | 投资 | 资金 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 名称 | 型 | 产品名称 | 额（万 | 化收益 | 期限 | 类型 | 方向 | 来源 | | | | | 元） | 率（%） ...

国泰海通证券股份有限公司 关于杭州美登科技股份有限公司 使用募集资金置换已投入募投项目自有资金之核查意见 国泰海通证券股份有限公司（以下简称"国泰海通"或"保荐机构"）作为 杭州美登科技股份有限公司（以下简称"美登科技""公司"或"发行人"）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，根据《证券 发行上市保荐业务管理办法》《上市公司募集资金监管规则》《北京证券交易所上 市公司持续监管办法（试行）》《北京证券交易所上市公司持续监管指引第 9 号— —募集资金管理》《北京证券交易所股票上市规则》等有关规定，对美登科技使 用自有资金支付募投项目部分款项用并以募集资金等额置换的事项进行了核查， 核查情况及核查意见如下： 三、募集资金账户开立情况 为规范公司募集资金管理，保护投资者的权益，根据《北京证券交易所股票 上市规则》《北京证券交易所上市公司持续监管指引第 9 号——募集资金管理》 等相关法律法规的规定，公司及公司全资子公司威海领新信息技术有限公司（以 下简称"威海领新"）、杭州一登科技有限公司（以下简称"杭州一登"）设立募 集资金专用账户存放本次向不特定合格投资者发行股票的募集资金，并与国 ...

证券代码：838227 证券简称：美登科技 公告编号：2025-131 杭州美登科技股份有限公司 关于使用募集资金置换已投入募投项目自有资金的公告 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。 杭州美登科技股份有限公司（以下简称"美登科技"、"公司"）于 2025 年 9 月 25 日召开第四届董事会第三次会议，审议通过了《关于使用募集资金置换已 投入募投项目自有资金的议案》，现将具体情况公告如下： 一、 募集资金基本情况 根据中国证券监督管理委员会《关于同意杭州美登科技股份有限公司向不 特定合格投资者公开发行股票注册的批复》（证监许可〔2022〕2971 号），本公 司由主承销商国泰君安证券股份有限公司（已更名为"国泰海通证券股份有限 公司"）采用定价方式，向不特定合格投资者公开发行人民币普通股股票 800 万 股，发行价为每股人民币 25.00 元，共计募集资金 20,000.00 万元，保荐及承 销费用 1,845.28 万元（不含增值税），前期已支付保荐费 245.28 万元（不含增 值税）， ...

1.会议召开时间：2025 年 9 月 25 日 2.会议召开地点：杭州市拱墅区丰潭路 380 号城西银泰城 E 座 9 楼公司会议 室 3.会议召开方式：现场、线上会议 4.发出董事会会议通知的时间和方式：2025 年 9 月 17 日以电话、邮件方式 发出 证券代码：838227 证券简称：美登科技 公告编号：2025-132 杭州美登科技股份有限公司 第四届董事会第三次会议决议公告 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 （一）会议召开情况 5.会议主持人：邹宇先生 6.会议列席人员：全体高级管理人员 7.召开情况合法、合规、合章程性说明： 本次会议的召集、召开符合《公司法》、《公司章程》和《董事会议事规则》 的相关规定。 （二）会议出席情况 会议应出席董事 7 人，出席和授权出席董事 7 人。 二、议案审议情况 （一）审议通过《关于使用募集资金置换已投入募投项目自有资金的议案》 1.议案内容： 根据募集资金专款专用原则，募集资金到位后全部支出原则上均应从募集 资金 ...

国泰海通证券股份有限公司 关于杭州美登科技股份有限公司 2025 年上半年度持续督导跟踪报告 根据《证券发行上市保荐业务管理办法》《北京证券交易所股票上市规则》 等有关法律法规、规范性文件等的规定，国泰海通证券股份有限公司（以下简称 "国泰海通""保荐机构"）作为杭州美登科技股份有限公司（以下简称"美登科 技"、"公司"）的保荐机构，负责美登科技的持续督导工作，并出具 2025 年上半 年度持续督导跟踪报告。 序号 项目 工作内容 1 公司信息披露审阅情况 保荐机构及时审阅了公司信息披露文件。对 公司及相关人员存在的股份代持事项、对外 收购未及时披露事项及募集资金专项报告信 息披露不准确事项等违规行为进行了核查并 出具了情况说明及后续整改方案专项意见。 2 督导公司建立健全并有效执行规则制度 的情况 保荐机构督导公司建立健全规则制度包括但 不限于根据新《公司法》及《北京证券交易 所股票上市规则》的规定，修改完善公司治 理制度，本督导期内，美登科技总体上有效 执行了规则制度。 3 募集资金使用监督情况 保荐机构定期查阅公司募集资金账户对账 单，核查公司募集资金使用情况；前往公司 现场核查募集资金使用情况。本督导 ...