东方证券股份有限公司 关于海能技术募集资金投资项目结项 并将节余募集资金永久补充流动资金的核查意见 东方证券股份有限公司（以下简称"本保荐机构"或"东方证券"）作为海能未来 技术集团股份有限公司（以下简称"海能技术"或"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，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》《北京证券交易所证券发行上市保荐业务管 理细则》《北京证券交易所股票上市规则》和《北京证券交易所上市公司持续监管 办法（试行）》等有关规定，对海能技术本次募投项目结项并将节余募集资金永久 补充流动资金事项进行了核查，具体情况如下： 一、募集资金基本情况 按照中国证券监督管理委员会《关于同意海能未来技术集团股份有限公司向 不特定合格投资者公开发行股票注册的批复》（证监许可〔2022〕2023号），并经北 京证券交易所同意，公司向不特定合格投资者公开发行人民币普通股股票 10,000,000.00股，每股面值1.00元，发行价格为人民币10.88元/股。本次发行募集资 金总额为人民币108,800,000.00元，扣除发行费用17,617,766.16元（不含 ...

证券代码：920476 证券简称：海能技术 公告编号：2025-136 海能未来技术集团股份有限公司 关于控股子公司获得发明专利证书的公告 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。 授权公告号：CN 116988692 B 二、对公司的影响 上述发明专利主要应用于公司的全自动实验室清洗机产品。公司的全自动 实验室清洗机产品可广泛应用于实验室玻璃、塑料、橡胶等多元材质器皿的清洗， 可满足制药类实验室 ppb 分析级洁净度及结果可验证、科研/公安/医学实验室 规避交叉污染和提高实验数据可靠性、石化实验室高防爆高防腐、粮油/食品/化 妆品实验室可定制流程及高效清洗等不同行业及领域实验室的要求。公司控股 子公司获得上述专利，实现了其实验室清洗设备核心技术的完全自主可控，有利 于巩固其在智能实验室清洗设备领域的技术优势，为其后续产品迭代开发及市 场拓展奠定知识产权护城河。 三、备查文件 一、基本情况 海能未来技术集团股份有限公司（以下简称"公司"）的控股子公司白小白 科技（山东）有限公司近日收到国家知识产权 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [5] Core Views - The company plans to invest 21 million yuan in Anypu to enhance its high-end product matrix and strategically enter the mass spectrometry market, which is a key segment in the domestic scientific instrument industry [5][6] - The mass spectrometry market is currently dominated by developed countries, with 90% of the global market share, and China has an annual import scale of approximately 10 billion yuan for mass spectrometers [6] - The company has launched the N70 Fourier Transform Near-Infrared Spectrometer, which is expected to drive incremental sales and has established a research institute in collaboration with Xi'an Jiaotong University for the development of cell membrane chromatography products [6] - The company is increasing its investment in overseas markets, with its subsidiary G.A.S. developing methods for detecting siloxane content in biogas power generation, which has already become a standard detection method in the U.S. [6] Financial Summary - The company expects to achieve a net profit of 0.50 billion yuan in 2025, with projected profits of 0.63 billion yuan in 2026 and 0.80 billion yuan in 2027, corresponding to P/E ratios of 43, 34, and 27 times respectively [6][8] - Revenue is projected to grow from 3.10 billion yuan in 2024 to 5.26 billion yuan in 2027, with a compound annual growth rate of approximately 20.21% [8][10] - The company’s return on equity (ROE) is expected to improve from 2.77% in 2024 to 12.03% in 2027, indicating enhanced profitability [8][10]

Core Viewpoint - Haineng Technology plans to invest 21 million yuan in Anyipu (Suzhou) Medical Technology Co., Ltd. through a combination of equity transfer and capital increase, aiming to enhance its business layout in the mass spectrometry product sector [3][4]. Investment Details - The investment consists of two parts: 7 million yuan for acquiring 1.6393% equity from existing shareholders and 14 million yuan for subscribing to the new registered capital of 19.3688 million yuan [3][4]. - After the transaction, Haineng Technology is expected to hold 3.85% of Anyipu's equity [3][4]. Financial Overview of Anyipu - Anyipu, established in March 2021, focuses on the R&D, production, and sales of mass spectrometers, with applications in semiconductor testing, biomedicine, food safety, and environmental monitoring [4][5]. - Financial projections indicate that Anyipu will achieve a revenue of 41.8749 million yuan in 2024 and 35.2890 million yuan from January to September 2025, with total assets of 120 million yuan and net assets of 103 million yuan as of September 2025 [4][5]. Shareholding Structure - Prior to the capital increase, Anyipu's registered capital was 8.4392 million yuan, which is expected to rise to 8.6329 million yuan post-investment [5]. - Zhang Xiaohua remains the largest shareholder, increasing his stake from 38.37% to 40.69% after the capital increase, while Haineng Technology will hold 3.85% [5][6]. Strategic Importance - This investment is a significant move for Haineng Technology to establish a foothold in the mass spectrometry market, which is experiencing strong demand in strategic emerging sectors such as semiconductors and biomedicine [6][7]. - The collaboration is expected to create synergies in technology R&D, manufacturing, and sales channels, enhancing overall market competitiveness [6][7].

证券代码：920476 证券简称：海能技术 公告编号：2025-135 海能未来技术集团股份有限公司 拟进行对外投资的公告 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、对外投资概述 （一）基本情况 根据海能未来技术集团股份有限公司（以下简称"公司"）发展规划，为了 不断丰富公司产品矩阵，布局科学仪器行业中市场空间和增长潜力巨大的质谱产 品，公司拟通过以现金方式认缴新增注册资本及收购原股东部分股权的方式投资 安益谱（苏州）医疗科技有限公司（以下简称"安益谱"），并已于 2025 年 11 月 11 日与安益谱及其股东张小华、王延军、杨锋博、黄健签署了《意向协议书》。 公司本次拟以现金 7,000,000.00 元受让安益谱原股东 1.6393%的股权（对 应注册资本为 138,348.00 元），同时，拟以现金 14,000,000.00 元出资，认缴其 新增注册资本 193,688.00 元，其中 193,688.00 元计入注册资本，13,806,312.00 元计入资本公积。如本次交易顺利完 ...

Overall Insights - In the first three quarters of 2025, 53% of the companies in the North Exchange technology growth sector reported positive net profit growth [11][12][15] - The median revenue of the electronic equipment sector was 229 million yuan, reflecting a year-on-year increase of 16.50%, while the median net profit decreased by 7.58% [17][18] - The median revenue of the machinery equipment sector was 204 million yuan, with a year-on-year increase of 7.63%, and the median net profit increased by 6.22% [27][32] - The median revenue of the automotive sector was 385 million yuan, showing a year-on-year increase of 2.49%, and the median net profit increased by 5.01% [5][44] - The median revenue of the new energy sector was 729 million yuan, with a year-on-year increase of 3.68%, while the median net profit decreased by 33.37% [7][25] Electronic Equipment Sector - Among 46 companies in the electronic equipment sector, 18 reported positive growth in both revenue and net profit in Q1-Q3 2025 [25][26] - Key growth drivers included product structure optimization and increased market competitiveness due to R&D investments and government support policies [25][26] Machinery Equipment Sector - The machinery equipment sector showed signs of stabilization, with 7 companies reporting positive growth in both revenue and net profit in Q1-Q3 2025 [30][31] - Growth was attributed to increased demand for core products and successful market expansion efforts [30][31] Automotive Sector - The automotive sector demonstrated consistent revenue growth, with 11 companies reporting positive growth in both revenue and net profit in Q1-Q3 2025 [5][44] - Companies like 旺成科技 and 捷众科技 expanded their market presence and diversified their product offerings, contributing to their revenue growth [5][6] New Energy Sector - In the new energy sector, only 4 out of 19 companies reported positive growth in both revenue and net profit in Q1-Q3 2025 [7][25] - Companies like 酉立智能 and 长虹能源 achieved significant revenue growth due to effective market expansion and product competitiveness [7][25]

Core Viewpoint - The information disclosure requirements for A-share listed companies are becoming increasingly stringent, with the Beijing Stock Exchange (BSE) releasing its first evaluation results for 2024-2025, indicating an overall improvement in disclosure quality among listed companies [2][4]. Summary by Categories Evaluation Results - Among the 262 companies evaluated, 48 received an A rating (18.3%), 178 received a B rating (67.9%), 31 received a C rating (11.8%), and 5 received a D rating (1.9%) [2][4]. - A total of 86.2% of the companies were rated either A or B, indicating a positive trend in information disclosure [4]. Company Performance - The five companies rated D, including Tianye Co. (BJ920023) and Digital People (BJ920670), may face delisting warnings due to issues with their financial report disclosures [2][5]. - The average market capitalization of the 48 A-rated companies is 4.591 billion, with an average stock price increase of 84% this year and an average net profit growth of 28% [14][15]. Regulatory Framework - The BSE's evaluation is part of a broader effort to establish a unified and normalized regulatory framework for information disclosure across China's three major stock exchanges [7]. - The evaluation focuses on three main dimensions: the standardization and effectiveness of information disclosure, investor relations maintenance, and social responsibility disclosure [4]. Impact on Corporate Actions - Companies rated A will receive support and facilitation for refinancing and mergers, including reduced inquiry rounds and targeted training [9]. - Conversely, companies rated D will face increased scrutiny and guidance to improve their information disclosure practices [9]. Notable Company Statistics - In the top 10 companies by market capitalization, 5 received A ratings and 5 received B ratings, indicating a correlation between disclosure quality and market performance [10]. - The top 10 companies by net profit for the first three quarters include 3 A-rated and 7 B-rated companies, further illustrating the relationship between disclosure ratings and financial performance [12][13].

Investment Rating - The investment rating for the company is "Buy" (maintained) [2][4] Core Insights - The company reported a revenue of 227 million yuan for Q1-Q3 2025, representing a year-on-year growth of 23.54%. The net profit attributable to the parent company was 18.11 million yuan, a significant recovery from a loss of 4.68 million yuan in the same period of 2024. The company is expected to maintain strong growth in net profit for 2025-2027, with projections of 47 million yuan, 53 million yuan, and 64 million yuan respectively, corresponding to EPS of 0.55, 0.62, and 0.75 yuan per share [4][6] Financial Performance Summary - For 2025, the company is projected to achieve a revenue of 376 million yuan, with a year-on-year growth of 21.2%. The net profit is expected to be 47 million yuan, reflecting a substantial increase of 258.3% compared to 2024. The gross margin is forecasted to be 65.1%, and the net margin is expected to be 10.8% [6][9] - The company's total assets are estimated to be 610 million yuan in 2025, with total liabilities of 110 million yuan, resulting in a debt-to-asset ratio of approximately 18.1% [8][9] Industry Overview - The scientific instrument industry is crucial for high-quality economic development and technological innovation, with applications across various sectors including food, pharmaceuticals, agriculture, environmental monitoring, and new energy. The industry experienced a revenue growth of 7.0% year-on-year, reaching 509.42 billion yuan in the first half of 2025, with total profits amounting to 49.25 billion yuan, a year-on-year increase of 9.2% [6][8]

证券代码：920476 证券简称：海能技术 公告编号：2025-134 海能未来技术集团股份有限公司 投资者关系活动记录表 □现场参观 □新闻发布会 □分析师会议 □路演活动 √其他 （线上会议） 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 □业绩说明会 □媒体采访 二、 投资者关系活动情况 活动时间：2025 年 10 月 28 日 活动地点：线上调研 参会单位及人员：第一场：华源证券、创金合信基金、天弘基金、前海联合 基金、同泰基金、嘉合基金、开源证券、兴业证券、申万宏源证券、中泰证券、 长江证券、国投证券、红塔证券、民生证券、联储证券、上海东方证券资产管理 有限公司、上海艾叶私募基金管理有限公司、上海易正朗投资管理有限公司、深 圳市尚诚资产管理有限责任公司、鸿运私募基金管理(海南)有限公司、磊垚资本、 洪顺资本、巨鹿投资、上海冰河资产管理有限公司、深圳市正德泰投资有限公司、 北京星允投资管理有限公司、明河投资、浦赢建和（上海）资产管理有限公司。 第二场 ...

Investment Rating - The report maintains a rating of "Outperform" for the company [6][9]. Core Insights - The company reported a revenue of 227 million yuan for the first three quarters of 2025, representing a year-on-year increase of 23.5%. The net profit attributable to the parent company was 18 million yuan, marking a return to profitability [6]. - In Q3 2025, the company achieved a revenue of 91 million yuan, up 9.8% year-on-year, with a net profit of 13 million yuan, reflecting a 35.3% increase [6]. - The report highlights that the company's revenue growth is driven by the high demand for its chromatography and spectroscopy series, despite a high base effect from the previous year [9]. - The gross margin for Q3 2025 was 63.0%, slightly down by 1.2 percentage points year-on-year, attributed to a higher proportion of lower-margin products [9]. - The report emphasizes the growth potential in the domestic high-end scientific instrument market, supported by government policies and increasing research and testing demands [9]. - The company is expected to benefit from a clear long-term growth momentum, with strong product launches and a broad customer base [9]. Financial Data and Profit Forecast - The total revenue forecast for 2025 is 378 million yuan, with a projected growth rate of 21.9% [8]. - The net profit attributable to the parent company is expected to reach 45 million yuan in 2025, with a significant year-on-year growth of 246.6% [8]. - The report projects a steady increase in earnings per share, estimating 0.53 yuan per share for 2025 [8]. - The company's price-to-earnings ratio is forecasted to be 51 for 2025, decreasing to 31 by 2027 [8].