Group 1 - The core point of the article is the resignation of Yang Xin, the financial director of Weibo Hydraulic, effective January 16, 2026, due to personal reasons, with the chairman Ma Jinxing temporarily taking over the responsibilities until a new financial director is appointed [1] - Weibo Hydraulic, established on January 20, 2003, is a national-level specialized and innovative "little giant" enterprise focusing on the research, production, and sales of hydraulic power units and high-end hydraulic core components [1] - As of September 30, 2025, Weibo Hydraulic reported a revenue of approximately 244 million yuan, a year-on-year decrease of 2.33%, and a net profit attributable to shareholders of approximately 16.21 million yuan, a year-on-year decrease of 18.58% [1]

Group 1 - Jiangsu Province's Science and Technology Department announced the first batch of high-tech enterprises for 2025, with 100 companies from Huai'an recognized, indicating significant progress in cultivating technology innovation entities in the region [2] - Huai'an has been actively strengthening the cultivation of technology enterprises, implementing strategies for leading technology enterprises, high-tech enterprises, and incubating technology-based SMEs, which contributes to high-quality economic development [2] Group 2 - Jiangsu Yuefeng Crystal Technology Co., Ltd. is a representative enterprise in Huai'an, utilizing the latest ultra-thin wall technology and special materials, breaking Europe's long-standing technological monopoly, with over 200 product types and 2,300 designs, ranking first in production capacity in China and among the top three globally [4] - The company invests 5% of its sales revenue annually in R&D and holds over 30 national patents, showcasing its commitment to innovation and international market expansion [4] - Local government provides substantial policy support in funding, labor, and technological innovation, facilitating the company's growth and technological advancements [4] Group 3 - Jiangsu Weibo Hydraulic Co., Ltd. has accumulated six invention patents and 27 utility model patents, receiving multiple awards, including the 2025 Mechanical Industry Science and Technology Progress Award [5] - The company collaborates with several universities for R&D projects, receiving over 60 million yuan in various subsidies and enjoying favorable tax policies [5] - Huai'an aims to establish itself as a significant industrial technology innovation hub in the northern Yangtze River Delta, focusing on the integration of technological and industrial innovation [5]

Core Viewpoint - The company is undergoing a critical transformation from components to intelligent systems, with a focus on the integration of electrification and intelligence technologies, which will enhance product performance and establish a competitive advantage in hydraulic products [1][3]. Company Development - Founded in 2003 by borrowing 1.3 million yuan, the company introduced the concept of hydraulic power units, enabling a leap from mechanical components to parts, and successfully listed on the stock market [3][4]. - The company became one of the first to be listed on the Beijing Stock Exchange under the new registration system in 2021, marking a significant milestone in its growth trajectory [3][4]. Innovation and Market Position - The company emphasizes innovation as a key driver of development, with plans to issue convertible bonds in 2025 to support the electrification and intelligent upgrade of hydraulic power equipment [5][6]. - The company has achieved a leading market position in low-noise hydraulic power units, reducing noise levels by 10 decibels through innovative design [6][7]. Technological Advancements - The company has developed a bidirectional gear hydraulic pump that generates electricity, enhancing energy efficiency and increasing product gross margins by 10% [7]. - The company is actively working on intelligent systems that integrate electric control and hydraulic technologies, aiming to leverage AI for improved operational precision and cost reduction [7][8]. Financing and Future Outlook - The company plans to issue 84 million yuan in convertible bonds to fund high-end intelligent hydraulic systems and core component development, while also considering shareholder interests [8]. - The company anticipates that the next five years will be a golden era for the growth of Chinese technology enterprises, aiming to become a global leader in electric hydraulic systems through technological investment [8].

Core Viewpoint - The company is undergoing a critical transformation from components to intelligent systems, with a focus on the integration of electrification and intelligence technologies, which will enhance product performance and create a core competitive advantage in hydraulic products [2][6]. Company Development - Founded in 2003 by borrowing 1.3 million yuan, the company introduced the concept of hydraulic power units, enabling a leap from mechanical components to parts, and successfully listed on the Beijing Stock Exchange in 2021 [2][3]. - The company emphasizes innovation as a key driver for growth, and in 2025, it plans to issue convertible bonds to support the electrification and intelligent upgrade of hydraulic power equipment [4][8]. Market Position and Strategy - The company has consistently led industry development by identifying new market opportunities, such as the demand for standardized hydraulic power units, which has resulted in steady growth in operational scale [3][4]. - The company has achieved a leading market share in low-noise hydraulic power units, particularly in the logistics sector, and is expanding into high-value products like AGV unmanned transport vehicles and aerial work platforms [5][6]. Technological Advancements - The company has developed a bidirectional gear hydraulic pump that generates electricity, enhancing energy efficiency and increasing product gross margins by 10% [7]. - The company is advancing towards an AI-driven future by decentralizing hydraulic systems and integrating small electric hydraulic devices, which allows for more precise control and significant cost reductions [7][8]. Financing and Growth Strategy - The company is planning to issue 84 million yuan in convertible bonds to fund high-end intelligent hydraulic systems, core component development, and working capital [8]. - The company aims to balance shareholder rights with institutional investor interests in its financing strategy, promoting long-term cooperation and growth [8].

江苏威博液压股份有限公司 关于北京证券交易所中止审核公司 2025 年度向特定对象发行可 转换公司债券的公告 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。 根据《公开发行证券的公司信息披露内容与格式准则第 52 号——北京证券 交易所上市公司发行证券申请文件》的相关规定，经向北京证券交易所（以下简 称"北交所"）申请，北交所同意江苏威博液压股份有限公司（以下简称"公司"） 向特定对象发行可转换公司债券中止审核。现将相关情况公告如下： 证券代码：871245 证券简称：威博液压 公告编号：2025-139 2025 年 7 月 4 日，公司收到北交所出具的《受理通知书》（DK2025070001）, 并在北交所官网（www.bse.cn）于 2025 年 7 月 7 日披露了《关于向特定对象发 行可转换公司债券申请获得北京证券交易所受理的公告》（公告编号：2025-112） 及相关申报稿。于 2025 年 9 月 12 日收到《关于江苏威博液压股份有限公司向特 定对象发行可转换公司债券申请文件的第二轮审 ...

Market Performance - The engineering machinery sector increased by 2.81% on September 17, with Wantong Hydraulic leading the gains [1] - The Shanghai Composite Index closed at 3876.34, up 0.37%, while the Shenzhen Component Index closed at 13215.46, up 1.16% [1] Individual Stock Performance - Wantong Hydraulic (code: 830839) closed at 45.91, up 12.41% with a trading volume of 50,300 shares and a turnover of 221 million yuan [1] - Changling Hydraulic (code: 605389) closed at 53.37, up 10.00% with a trading volume of 27,100 shares [1] - Hangcha Group (code: 603298) closed at 28.85, up 8.09% with a trading volume of 180,100 shares and a turnover of 506 million yuan [1] - Zhonglian Heavy Industry (code: 000157) closed at 7.71, up 4.76% with a trading volume of 2,696,700 shares and a turnover of 2.043 billion yuan [1] Capital Flow Analysis - The engineering machinery sector saw a net inflow of 197 million yuan from institutional investors, while retail investors experienced a net outflow of 75.92 million yuan [2] - The main stocks with significant net inflows included Zhonglian Heavy Industry with 202 million yuan and Zhejiang Dingli with 89.57 million yuan [3] Summary of Stock Movements - The overall performance of the engineering machinery sector indicates a positive trend, with several key players showing substantial gains in both stock price and trading volume [1][2] - The capital flow data suggests a strong interest from institutional investors, contrasting with the outflows from retail investors, indicating a potential shift in market sentiment [2][3]

关于收到北京证券交易所《关于江苏威博液压股份 有限公司向特定对象发行可转换公司债券申请文件的第二轮审 证券代码：871245 证券简称：威博液压 公告编号：2025-138 江苏威博液压股份有限公司 公司将按照上述问询函的要求，会同相关中介机构逐项落实并及时提交对问 询函的回复，回复内容将通过临时公告方式披露，并按照审核要求通过北交所发 行上市审核业务系统报送相关文件。 公司本次向特定对象发行可转换公司债券事项尚需通过北交所审核，并获得 中国证券监督管理委员会做出同意注册的决定后方可实施，本次发行的审核周期 及结果存在不确定性。公司将根据该事项的进展情况，严格按照有关法律法规的 规定及时履行信息披露义务，敬请广大投资者注意投资风险。 江苏威博液压股份有限公司 董事会 2025 年 9 月 12 日 核问询函》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。 江苏威博液压股份有限公司（以下简称"公司"）于 2025 年 9 月 12 日收到 北京证券交易所（以下简称"北交所"）出具的《关于江苏威博液 ...

证券简称：威博液压 证券代码：871245 江苏威博液压股份有限公司 JIANGSU VIBO HYDRAULICS JOINT STOCK CO.,LTD. 淮安经济技术开发区珠海东路 113 号 2025 年度向特定对象发行可转换公司债券 募集说明书（修订稿） 保荐机构（主承销商）:东吴证券股份有限公司 二零二五年八月 1-1-1 声明 本公司及控股股东、实际控制人、全体董事、监事、高级管理人员承诺定向发行可转债 募集说明书不存在虚假记载、误导性陈述或重大遗漏，并对其真实性、准确性、完整性承担 相应的法律责任。 公司负责人和主管会计工作的负责人、会计机构负责人保证定向发行可转债募集说明书 中财务会计资料真实、准确、完整。 对本公司发行证券申请予以注册，不表明中国证监会和北京证券交易所对该证券的投资 价值或者投资者的收益作出实质性判断或者保证。任何与之相反的声明均属虚假不实陈述。 根据《证券法》的规定，本公司经营与收益的变化，由本公司自行负责，由此变化引致 的投资风险，由投资者自行负责。 1-1-2 | 第一节 重要提示 4 | | --- | | 第二节 释义 6 | | 第三节 上市公司基本情况 10 ...

关于江苏威博液压股份有限公司 向特定对象发行可转换公司债券申请文件的 审核问询函之回复 保荐机构 二〇二五年八月 北京证券交易所： 贵所于 2025 年 7 月 21 日出具的《关于江苏威博液压股份有限公司向特定对 象发行可转换公司债券申请文件的审核问询函》（以下简称"问询函"）已收悉， 东吴证券股份有限公司（以下简称"保荐机构"）作为江苏威博液压股份有限公司 （以下简称"威博液压"、"公司"或"发行人"）向特定对象发行可转换公司债券的 保荐机构，会同威博液压、锦天城律师事务所（以下简称"发行人律师"）、容诚 会计师事务所（特殊普通合伙）（以下简称"申报会计师"）等相关各方对问询函 相关问题逐项进行了落实，现对问询函回复如下，请审核。 说明： 1、除另有说明外，本回复所用简称或名词的释义与《江苏威博液压股份有 限公司向特定对象发行可转换公司债券募集说明书》所用简称一致。 2、本回复中若出现总计数尾数与所列数值总和尾数不符的情况，均为四舍 五入所致。 3、本回复中的字体代表以下含义： | 问询函所列问题 | 黑体（加粗） | | --- | --- | | 对问询函所列问题的回答 | 宋体 | | 对募集说明书 ...

上海市锦天城律师事务所 关于江苏威博液压股份有限公司 向特定对象发行可转换公司债券的 补充法律意见书（一） 地址：上海市浦东新区银城中路 501 号上海中心大厦 9/11/12 层 电话：021-20511000 传真：021-20511999 邮编：200120 | | | | 声明事项 | | 3 | | --- | --- | --- | | 正 | 文 | 6 | | 一、问题 | 1.关于前次募投项目 6 | | | 二、问题 | 2.关于本次募投项目 13 | | | 三、问题 | 5.其他 | 21 | | 四、补充说明 | | 29 | 上海市锦天城律师事务所 补充法律意见书（一） 上海市锦天城律师事务所 关于江苏威博液压股份有限公司 向不特定对象发行可转换公司债券并上市的 补充法律意见书（一） 致：江苏威博液压股份有限公司 上海市锦天城律师事务所（以下简称"本所"）接受江苏威博液压股份有限公 司（以下简称"发行人"或"公司"或"威博液压"）的委托，并根据发行人与本所签 订的《专项法律服务协议》，作为发行人向特定对象发行可转换公司债券（以下 简称"本次发行"）的特聘专项法律顾问。本所已于 20 ...