证券研究报告 机械设备 | 自动化设备 北交所|首次覆盖报告 hyzqdatemark 2025 年 11 月 27 日 证券分析师 赵昊 SAC：S1350524110004 zhaohao@huayuanstock.com 万枭 SAC：S1350524100001 wanxiao@huayuanstock.com 市场表现： | 基本数据 | | 2025 | 年 | 11 | | 24 | 日 | | 月 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 收盘价（元） | | | | | | 27.98 | | | | | | 年 内 高 最 低 | / | | | | 最 | | | | | 一 | | （元） | | | | | | | | 29.80/12.85 | | | | 总市值（百万元） | | | | | | 3,924.47 | | | | | | 流通市值（百万元） | | | | | | 3,080.05 | | | | | | 总股本（百万股） | | | | | | 140.26 ...

Market Overview - On November 24, the total trading volume of individual stocks on the Beijing Stock Exchange reached 603 million shares, with a total transaction value of 12.81 billion yuan, a decrease of 5.44 billion yuan compared to the previous trading day [1] - Among the tradable stocks, 220 stocks closed higher, accounting for 77.74% of the total, with notable gainers including Tietuo Machinery, Guoyi Bidding, and Meideng Technology, which rose by 18.20%, 8.61%, and 8.21% respectively [1][2] - Conversely, 56 stocks closed lower, with Dapeng Industrial hitting the daily limit down, and the largest declines seen in Beikang Testing, Hanwei Technology, and Litong Technology, which fell by 6.74%, 5.72%, and 5.71% respectively [1] Trading Activity - A total of 32 stocks had transaction values exceeding 10 million yuan, with Meideng Technology, Tietuo Machinery, and Haixi Communications leading at 329 million yuan, 326 million yuan, and 275 million yuan respectively [1] - In terms of trading activity, 8 stocks had a turnover rate exceeding 10%, with 3 stocks exceeding 20%. Additionally, 33 stocks had turnover rates between 5% and 10%, while 210 stocks had turnover rates between 1% and 5% [1] Notable Stocks - The top three stocks by turnover rate were Tietuo Machinery at 28.89%, Beikang Testing at 28.87%, and Meideng Technology at 26.85% [1] - The closing prices and performance of selected stocks included: - Meideng Technology: Closing price 70.55 yuan, up 8.21%, turnover rate 26.85%, transaction value 328.66 million yuan [1] - Tietuo Machinery: Closing price 27.47 yuan, up 18.20%, turnover rate 28.89%, transaction value 326.09 million yuan [1] - Haixi Communications: Closing price 27.98 yuan, up 1.27%, turnover rate 8.84%, transaction value 274.51 million yuan [1]

证券代码：920405 证券简称：海希通讯 公告编号：2025-154 上海海希工业通讯股份有限公司 2025 年第三季度权益分派实施公告 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。 上海海希工业通讯股份有限公司董事会于 2025 年 10 月 24 日根据 2024 年 年度股东会审议通过的中期分红条件和上限制定 2025 年第三季度权益分派方案。 本次实施分配方案距离董事会制定中期分红方案的时间未超过两个月。 现将权益分派事宜公告如下： （1）个人股东、投资基金适用股息红利差别化个人所得税政策, 个人股东、 投资基金持股 1 个月（含 1 个月）以内，每 10 股补缴税款 0.100000 元；持股 1 个月以上至 1 年（含 1 年）的，每 10 股补缴税款 0.050000 元；持股超过 1 年的， 不需补缴税款。 （2）对合格境外投资者股东，根据国税函[2009]47 号，公司按 10%的税率 代扣代缴所得税后，实际每 10 股派发 0.450000 元。 （3）对于合格境外投资者之外的其 ...

Core Points - The Shanghai Composite Index fell by 2.45% today, with 9 stocks reaching historical closing highs [1] - Among the tradable A-shares, 354 stocks rose (6.50%) while 5072 stocks fell (93.17%), with 33 stocks hitting the daily limit up and 107 stocks hitting the limit down [1] Group 1: Historical Highs - A total of 9 stocks reached historical closing highs today, with 4 from the main board, 1 from the ChiNext, and 2 from the Sci-Tech Innovation Board [1] - The industries with the most stocks reaching historical highs include computer, electric equipment, and banking, with 2, 2, and 1 stocks respectively [1] - The average price of stocks that reached historical highs was 47.68 yuan, with one stock priced over 100 yuan and another between 50-100 yuan [1] Group 2: Stock Performance - Stocks that reached historical highs saw an average increase of 7.00%, with notable gainers including Pingao Co., Yidian Tianxia, and Luokai Co. [1] - The highest closing price was for Pinming Technology at 148.56 yuan, which increased by 4.77%, followed by Zhenai Meijia and Pingao Co. at 57.00 yuan and 49.02 yuan respectively [1] Group 3: Capital Flow - The total net inflow of main funds into stocks reaching historical highs was 658 million yuan, with the highest net inflows seen in Yidian Tianxia, Luokai Co., and Pingao Co. [2] - The average total market capitalization of stocks reaching historical highs was 174.197 billion yuan, with the highest market capitalizations belonging to China Bank, Yidian Tianxia, and Pinming Technology [2] Group 4: Recent Performance - Among the stocks that reached historical highs, Zhenai Meijia recorded 9 new highs in the past month, while Kunong Technology, Shanghai Port, and China Bank recorded 6, 5, and 4 new highs respectively [2]

证券代码：920405 证券简称：海希通讯 公告编号：2025-153 一、 合同签署概况 上海海希工业通讯股份有限公司签订重要销售合同的公告 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 近日，上海海希工业通讯股份有限公司（以下简称"公司"）全资孙公司海 希智能科技（浙江）有限公司（以下简称"海希浙江"）与浙江兆合贵能源科技 有限公司（以下简称"浙江兆合贵能源"）签订《货物批次采购合同》，浙江兆合 贵能源向海希浙江采购泰安市宁阳县伏山镇 400MW/800MWh 电网侧电化学 储能项目储能系统采购及安装（以下简称"合同货物"），合同金额为 401,880,000 元人民币。 （二） 审批情况 上述合同属于公司日常经营活动相关的合同，根据《北京证券交易所上市 规则》的相关规定，该合同不需要经过公司董事会及股东会的审议。 二、 合同对手方情况 （一）合同对手方基本情况 合同对手方名称：浙江兆合贵能源科技有限公司 统一社会信用代码：91330108MACGJ6HG2H 企业类型：有限责任 ...

Market Overview - The automation equipment sector increased by 0.48% on November 17, with Hai Xi Communication leading the gains [1] - The Shanghai Composite Index closed at 3972.03, down 0.46%, while the Shenzhen Component Index closed at 13202.0, down 0.11% [1] Top Performers in Automation Equipment Sector - Hai Xi Communication (Code: 920405) closed at 25.50, up 7.64% with a trading volume of 78,900 shares and a transaction value of 194 million [1] - Wei Chuang Electric (Code: 688698) closed at 75.44, up 6.16% with a trading volume of 65,300 shares and a transaction value of 491 million [1] - Kai Di Co., Ltd. (Code: 605288) closed at 95.18, up 6.13% with a trading volume of 30,100 shares and a transaction value of 291 million [1] - Other notable gainers include Hai Ri Ao (Code: 688889) up 5.77% and Lian Ying Laser (Code: 688518) up 4.19% [1] Underperformers in Automation Equipment Sector - Hong Ying Intelligent (Code: 001266) closed at 32.64, down 10.01% with a trading volume of 139,600 shares and a transaction value of 461 million [2] - Mai He Co., Ltd. (Code: 66110E) closed at 23.34, down 7.42% with a trading volume of 87,400 shares and a transaction value of 202 million [2] - Rui Sheng Intelligent (Code: 688215) closed at 72.49, down 5.07% with a trading volume of 15,200 shares and a transaction value of 112 million [2] Capital Flow Analysis - The automation equipment sector experienced a net outflow of 418 million from institutional investors, while retail investors saw a net inflow of 239 million [2] - Notable stocks with significant capital flow include Hui Chuan Technology (Code: 300124) with a net inflow of 10.9 million from institutional investors [3] - Kai Di Co., Ltd. (Code: 605288) had a net inflow of 29.74 million from institutional investors, while also experiencing outflows from retail investors [3]

证券代码：920405 证券简称：海希通讯 公告编号：2025-151 上海海希工业通讯股份有限公司 2025 年第五次临时股东会决议公告 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 1.会议召开时间：2025 年 11 月 12 日 2.会议召开地点：上海市松江区莘砖公路 518 号 15 幢公司会议室 3.会议召开方式：本次会议采用现场投票和网络投票相结合方式召开 4.会议召集人：董事会 5.会议主持人：董事长 王小刚 6.召开情况合法合规的说明： 本次会议的召开符合《公司法》《公司章程》的有关规定。 （二）会议出席情况 出席和授权出席本次股东会的股东共 8 人，持有表决权的股份总数 36,045,994 股，占公司有表决权股份总数的 26.41%。 总经理李春友、联席总经理郑晓宇、副总经理蔡丹、财务总监闵书晗列席 会议。 二、议案审议情况 （一）审议通过《关于提名马志光先生为第四届董事会独立董事的议案》 1.议案表决结果： 同意股数 36,045,9 ...

GIUN 。 北京市中伦(上海)律师事务所 关于上海海希工业通讯股份有限公司 2025 年第五次临时股东会的 上海市浦东新区世纪大道 8 号国金中心二期 10/11/16/17 层 邮编:200120 10/11/16/17F, Two IFC, 8 Century Avenue, Pudong New Area, Shanghai 200120, China 电话/Tel : +86 21 6061 3666 | 传真/Fax : +86 21 6061 3555 www.zhonglun.com 北京市中伦(上海)律师事务所 法律意见书 二〇二五年十一月 根据《中华人民共和国公司法》(以下简称"《公司法》")、《中华人民共和国 证券法》(以下简称"《证券法》")、《北京证券交易所股票上市规则》(以下简称 "《上市规则》")等其他相关法律、法规和规范性文件的要求以及《上海海希工业 通讯股份有限公司章程》(以下简称"《公司章程》"),北京市中伦(上海)律师事务 所(以下简称"本所")接受上海海希工业通讯股份有限公司(以下简称"公司")的委 托,指派律师出席 2025年 11月 12日召开的 2025 年第五次 ...

Market Performance - The automation equipment sector increased by 2.11% on November 6, with Bojie Co., Ltd. leading the gains [1] - The Shanghai Composite Index closed at 4007.76, up 0.97%, while the Shenzhen Component Index closed at 13452.42, up 1.73% [1] Top Gainers in Automation Equipment Sector - Bojie Co., Ltd. (002975) closed at 76.26, up 10.00% with a trading volume of 115,200 shares and a transaction value of 850 million [1] - Haixi Communications (920405) closed at 24.70, up 7.63% with a trading volume of 84,500 shares [1] - Kaidi Co., Ltd. (605288) closed at 91.15, up 7.55% with a trading volume of 24,200 shares [1] - Other notable gainers include Green Harmonics (688017) at 160.90 (+6.91%) and Saiteng Co., Ltd. (603283) at 48.76 (+5.61%) [1] Market Capital Flow - The automation equipment sector saw a net inflow of 600 million from institutional investors, while retail investors experienced a net outflow of 358 million [2][3] - The top net inflow stocks included Huagong Technology (000988) with a net inflow of 16.41 million [3] - Bojie Co., Ltd. (002975) had a net inflow of 54.80 million from institutional investors, but a net outflow of 40.11 million from retail investors [3]

鉴于刘荣先生因个人原因申请辞去其担任的上海海希工业通讯股份有限公司（以 下简称"公司"）第四届董事会独立董事职务，为完善公司治理结构，根据《公司法》 及《公司章程》的有关规定，公司第四届董事会第二十一次会议于 2025 年 10 月 24 日审议并通过《关于提名马志光先生为第四届董事会独立董事的议案》，该议案尚需 提交 2025 年第五次临时股东会审议。 证券代码：920405 证券简称：海希通讯 公告编号：2025-144 上海海希工业通讯股份有限公司独立董事任命公告 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、独立董事任命的基本情况 （二）人员变动对公司的影响 如马志光先生经公司 2025 年第五次临时股东会同意选举为独立董事，公司董事 会同意补选马志光先生为第四届董事会审计委员会委员，任期自公司 2025 年第五次 临时股东会审议通过之日起至公司第四届董事会任期届满之日为止。 提名马志光先生为公司独立董事，任职期限至公司第四届董事会届满之日止，本次 任命尚需提交股东会审议，自股东会决议通过 ...