证券代码：920242 证券简称：建邦科技 公告编号：2025-145 青岛建邦汽车科技股份有限公司独立董事专门会议 关于第四届董事会独立董事专门会议第五次会议相关事项 的核查意见 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《上市公司股权激励管理办法》（以下简称"管理办法"）、《北京证券交 易所股票上市规则》（以下简称"《上市规则》"）、《北京证券交易所上市公司持续 监管指引第3号——股权激励和员工持股计划》（以下简称"《监管指引第3号》）"、 《青岛建邦汽车科技股份有限公司章程》（以下简称"《公司章程》"）、《青岛建邦 汽车科技股份有限公司 2022 年股权激励计划（草案）》（以下简称"《2022 年激 励计划》"）及《青岛建邦汽车科技股份有限公司 2023 年股权激励计划（草案）》 （以下简称"《2023 年激励计划》"）等法律、法规及规章制度的有关规定，公司 独立董事专门会议对第四届董事会独立董事专门会议第五次会议的相关事项进 行了审核，发表审核意见如下： 一、《关于<青岛建邦汽车科技股 ...

1.会议召开时间：2025 年 11 月 18 日 证券代码：920242 证券简称：建邦科技 公告编号：2025-136 青岛建邦汽车科技股份有限公司 第四届董事会第七次会议决议公告 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 （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。 董事钟永铎、代晓玲、楼周仁、单军、海乐、詹桂华因工作原因以通讯方式 参与表决。 二、议案审议情况 （一）审议通过《关于<青岛建邦汽车科技股份有限公司 2022 年股权激励计划 (草案)>首次授予股票期权第三个行权期行权条件成就的议案》 2.会议召开地点：青岛建邦汽车科技股份有限公司会议室 3.会议召开方式：现场方式及通讯方式相结合 4.发出董事会会议通知的时间和方式：2025 年 11 月 13 日以电话、邮件方式 发出 5.会议主持人：钟永铎 6.会议列席人员：高级管理人员 7.召开情况合法合规的说明： 本次会议的召集、召开、议案审议程序符合《中华人民共和 ...

一、修订原因 根据《北京证券交易所股票上市规则》（以下简称"《上市规则》"）、《北京 证券交易所上市公司持续监管指引第 3 号——股权激励和员工持股计划》及 《青岛建邦汽车科技股份有限公司章程》（以下简称"《公司章程》"）等法律法 规、规范性文件以及《青岛建邦汽车科技股份有限公司 2023 年股权激励计划 （草案）》的有关规定，鉴于激励计划中 1 名激励对象因 2024 年个人考核年度 考核结果为"不合格"，本期不能解除限售，公司将回购注销其持有的本期计 划解除限售的限制性股票 9,000 股，注销完成后，公司股本由原来的 65,823,750 股变更为 65,814,750 股，注册资本由原来的 65,823,750.00 元变更为 65,814,750 元。 二、修订内容 根据《公司法》及《上市规则》等相关规定，公司拟修订《公司章程》的部 分条款，修订对照如下： 证券代码：920242 证券简称：建邦科技 公告编号：2025-143 青岛建邦汽车科技股份有限公司 关于拟减少注册资本暨修订《公司章程》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 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company reported a revenue of 586 million yuan for the first three quarters of 2025, representing a year-on-year growth of 8.99%. However, the net profit attributable to the parent company was 72 million yuan, a decline of 4.46% year-on-year. In Q3 2025, revenue was 211 million yuan, down 7.10% year-on-year, primarily due to the slow shipping speed from the Thailand factory and a suspension of shipments to a major customer. The net profit for Q3 2025 was 23 million yuan, a significant drop of 37.86% year-on-year [5][6] Financial Performance - The gross margin for the first three quarters of 2025 was 29.77%, down 0.83 percentage points year-on-year. The net margin was 12.30%, down 1.77 percentage points year-on-year. In Q3 2025, the gross margin was 31.13%, down 3.27 percentage points year-on-year but up 1.04 percentage points quarter-on-quarter. The net margin for Q3 was 10.77%, down 5.43 percentage points year-on-year and down 4.58 percentage points quarter-on-quarter [7][8] Revenue and Profit Forecast - The company is expected to achieve revenues of 797 million yuan, 968 million yuan, and 1.127 billion yuan for 2025, 2026, and 2027, respectively, with year-on-year growth rates of 5.97%, 21.46%, and 16.37%. The net profit attributable to the parent company is projected to be 118 million yuan, 145 million yuan, and 171 million yuan for the same years, with growth rates of 10.60%, 23.44%, and 17.93% respectively. The corresponding EPS for these years is expected to be 1.79 yuan, 2.21 yuan, and 2.60 yuan [8][10] Operational Insights - The Thailand factory's production capacity is expected to gradually improve, with a designed capacity of 300,000 to 500,000 units per year. As of Q3 2025, the factory had shipped 9,827 units, with a monthly capacity utilization rate of less than 10%. It is anticipated that there will be significant improvements in 2026 as the workforce and equipment become more integrated [6][7] Strategic Developments - The company has signed an investment cooperation agreement with Qingdao Haibang Optical Technology Co., Ltd. to establish a new company in Qingdao, focusing on developing automotive electronic products. This move is part of the company's strategy to enhance its capabilities in optical sensing technology [7][8]

一、投资者关系活动类别 □特定对象调研 □业绩说明会 证券代码：920242 证券简称：建邦科技 公告编号：2025-135 青岛建邦汽车科技股份有限公司 投资者关系活动记录表 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。 □媒体采访 □现场参观 □新闻发布会 □分析师会议 □路演活动 √其他 （券商策略会） 二、投资者关系活动情况 活动时间：2025 年 11 月 5 日至 2025 年 11 月 7 日 活动地点：上海浦东丽思卡尔顿酒店、深圳东海朗廷大酒店、北京金融街威 斯汀大酒店 参会单位及人员：东吴证券、贝寅基金、开源证券、财信证券、德汇投资、 青创伯乐、同泰基金、南方基金、融通基金、华源证券、华夏基金、嘉实基金、 西部利得基金、永赢基金、中邮创业基金、中金公司、兴业证券、联储证券、东 北证券、江海证券、中泰证券、长江证券、左道投资、天襄资管、明德天盛投资、 鸿道投资、易知（北京）投资、相聚资管、银杏资本、长城财富保险（排名不分 先后） （3）青岛建邦智光汽车电子科技有限公司：公司与青岛海邦光 ...

证券代码：920242 证券简称：建邦科技 公告编号：2025-134 青岛建邦汽车科技股份有限公司 关于子公司完成工商登记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。 一、基本情况 青岛建邦汽车科技股份有限公司（以下简称"公司"）控股子公司青岛建邦 智光汽车电子科技有限公司（以下简称"建邦智光"）于 2025 年 11 月 4 日完成 相应的工商登记手续，并取得了胶州市行政审批服务局核发的《营业执照》。 营业执照具体内容如下： 名称：青岛建邦智光汽车电子科技有限公司 统一社会信用代码：91370281MAK0YCC32E 类型：其他有限责任公司 法定代表人：钟永铎 注册资本：壹佰万元整 成立日期：2025 年 11 月 04 日 经营范围：一般项目：汽车零部件研发；汽车零部件及配件制造；汽车零配 件批发；光电子器件制造；光通信设备制造；机械设备研发；机械零件、零部件 销售；通信设备销售；电子产品销售；光电子器件销售；光通信设备销售；移动 通信设备销售；技术服务、技术开发、技术咨 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [5][14] Core Insights - The company reported a revenue of 586 million yuan for the first three quarters of 2025, representing a year-on-year growth of 8.99%. However, the net profit attributable to the parent company decreased by 4.46% to 72.28 million yuan [5] - The third quarter of 2025 saw a revenue of 211 million yuan, down 7.10% year-on-year, with a net profit of 22.87 million yuan, a decline of 37.86% year-on-year. This decline was primarily due to the bankruptcy restructuring of a foreign client, leading to an increase in credit impairment losses [5] - The company has established a joint venture with Qingdao Haibang Optoelectronics to develop optoelectronic hybrid interconnection products, indicating a strategic move towards innovation and product development [6] - The Thai subsidiary has entered the production phase, with plans to purchase a new facility to expand research and production capabilities, reflecting the company's growth strategy in international markets [7] Financial Summary and Valuation Metrics - For 2025, the company is projected to achieve a revenue of 856 million yuan, with a year-on-year growth of 13.8%. The net profit is expected to be 103 million yuan, reflecting a slight decrease of 3.6% [8] - The projected earnings per share (EPS) for 2025 is 1.56 yuan, with corresponding price-to-earnings (P/E) ratios of 21.8, 15.3, and 13.5 for 2025, 2026, and 2027 respectively [5][8] - The company maintains a gross margin of approximately 29.2% for 2025, with a net margin of 12.0% [11]

证券代码：920242 证券简称：建邦科技 公告编号：2025-133 青岛建邦汽车科技股份有限公司 投资者关系活动记录表 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、投资者关系活动类别 □特定对象调研 二、投资者关系活动情况 活动时间：2025 年 10 月 30 日 活动地点：线上交流会 参会单位及人员：华源证券、创金合信基金、中庚基金、中信建投基金、同 泰基金、中汇人寿保险、上海汽车金控管理、中银理财、东北证券、国投证券、 华鑫证券、万和证券、第一创业证券、联储证券、尚诚资产管理、四海圆通投资、 颐歌资产管理、星允投资、冰河资产管理、滦海啸阳私募基金、仙人掌私募基金、 国联民生证券、长江证券、易米基金、正御私募基金、前海开源基金、中山证券、 方正证券、阳光资产、国富人寿保险、国开自营、华安证券、红塔红土、国寿财 富、方正资管、京管泰富、基明资本、新华基金、申万宏源证券、交银施罗德基 金、国元证券、西部证券、递归私募、平安基金、北大方正人寿保险、东证融汇 □业绩说明会 □媒体采访 □现场参观 ...

New Consumption - The company Ruyuchen (003010.SZ) reported a 73% year-on-year growth in net profit attributable to shareholders in Q3 2025, driven by strong performance in its proprietary brands [2][10] - For the first three quarters of 2025, the company achieved revenue of 2.14 billion yuan, an 85% increase year-on-year, and a net profit of 105 million yuan, up 82% [2][10] - The proprietary brand business accounted for 55.1% of total revenue, with brands like Zhanjia and Feicui maintaining high growth rates [11][12] Metal New Materials - Xiamen Tungsten (600549.SH) exceeded expectations in Q3 2025, with revenue of 12.82 billion yuan, a 39.3% year-on-year increase, and a net profit of 810 million yuan, up 109.9% [15][16] - The tungsten and molybdenum segment saw significant profit growth due to rising tungsten prices, with Q3 profits reaching 1.06 billion yuan, a 98.3% increase year-on-year [16][18] - The company is positioned to benefit from the rising demand for cobalt lithium in the energy new materials sector, with a 45% year-on-year increase in sales volume [17][18] Transportation - Milkewei (603713.SH) reported a 2.1% increase in revenue to 3.64 billion yuan in Q3 2025, although net profit decreased by 3.5% to 173 million yuan [20][21] - The company's integrated logistics strategy is showing results, with total assets growing by 41.42% year-on-year, indicating rapid expansion in distribution business [21][23] - The gross margin improved to 11.2%, driven by optimization in distribution product categories [21][22] Machinery/Building Materials - Weixing New Materials (002372.SZ) experienced a revenue decline of 10.76% year-on-year in the first three quarters of 2025, with net profit down 13.52% [25][26] - The company reported a slight improvement in performance due to investment gains, with a gross margin of 43.04% in Q3 [26][27] - The company is facing challenges in operational performance despite a healthy cash flow situation [27][28] Overseas/Education Research - Tiangong International (00826.HK) is transitioning from a cutting tool manufacturer to a leader in high-end materials, focusing on powder metallurgy and titanium alloy sectors [34][35] - The company is expected to benefit from the growing demand in high-value sectors such as aerospace and consumer electronics [36][38] - The powder metallurgy technology is seen as a key platform for entering strategic new materials and high-end manufacturing markets, potentially enhancing both performance and valuation [37][38] North Exchange - Jianbang Technology (920242.BJ) reported a 9% year-on-year revenue increase to 586 million yuan in the first three quarters of 2025, despite facing credit loss provisions [39][40] - The company is expanding its product offerings in the automotive electronics sector and has initiated production at its Thailand factory [41][42] - Future growth is anticipated from the development of optoelectronic hybrid interconnection products and a focus on non-automotive components [42]

Investment Rating - The investment rating for the company is "Buy" (maintained) [5] Core Views - The company faces short-term pressure on Q3 performance due to increased credit loss provisions, but is expanding its boundaries by developing optoelectronic hybrid interconnection products [5] - The company has shown resilience through various measures such as multi-channel expansion, product iteration, and supply chain optimization, particularly with the production phase of its Thailand factory starting in July 2025 [7] - The non-automotive parts business is rapidly growing, with revenue of 64.99 million yuan in the first half of 2025, accounting for 17.34% of total revenue and showing a year-on-year growth of 183.18% [7] - The company is actively exploring the pre-installation market and does not rule out potential acquisitions in the automotive electronics and micro-motor sectors [7] - The company plans to purchase industrial buildings to enhance its automotive electronics business and is partnering with Haibang Optoelectronics to develop optoelectronic hybrid interconnection products [7] Financial Summary - Revenue projections for the company are as follows: 2023: 558 million yuan, 2024: 752 million yuan, 2025E: 869 million yuan, 2026E: 992 million yuan, 2027E: 1,175 million yuan, with respective growth rates of 31.93%, 34.71%, 15.51%, 14.21%, and 18.44% [6] - The projected net profit attributable to the parent company is: 2023: 70 million yuan, 2024: 107 million yuan, 2025E: 113 million yuan, 2026E: 145 million yuan, 2027E: 174 million yuan, with growth rates of 38.24%, 52.91%, 5.97%, 28.35%, and 20.04% [6] - The projected earnings per share (EPS) are: 2023: 1.06 yuan, 2024: 1.62 yuan, 2025E: 1.71 yuan, 2026E: 2.20 yuan, 2027E: 2.64 yuan [6] - The company’s return on equity (ROE) is expected to be 13.79% in 2023, increasing to 21.22% by 2027 [6]