Investment Rating - The report maintains a "Buy" investment rating for the company [1][7] Core Insights - The company reported Q3 2025 revenue of 290 million yuan, a year-over-year increase of 42.1%, and a net profit attributable to shareholders of 45.05 million yuan, up 32.4% year-over-year [3][4] - The actuator business is identified as a key growth driver, benefiting from the trend towards automotive electrification, with actuator revenue growing by 77.4% year-over-year [5] - The company is expanding into humanoid robots and liquid cooling sensor markets, leveraging its strong foundation in temperature sensor technology [6] Financial Performance - Q3 2025 gross margin was 33.0%, showing a year-over-year decrease of 0.9 percentage points but a quarter-over-quarter improvement of 1.5 percentage points [4] - The company’s operating expenses as a percentage of revenue were 12.3%, with R&D expenses increasing due to a rise in technical staff and related compensation [4] - Revenue projections for 2025-2027 are 1.17 billion, 1.48 billion, and 1.87 billion yuan respectively, with net profits of 196 million, 252 million, and 315 million yuan [7][9] Market Position and Growth Potential - The actuator segment is expected to experience explosive growth due to increasing applications in electric vehicles, including new configurations like hidden door handles and electronic locks [5] - The company has established partnerships to develop products for humanoid robots and data center cooling solutions, indicating a strategic expansion into high-potential markets [6]

湖北开特汽车电子电器系统 股份有限公司 第三条 公司注册名称：中文全称：湖北开特汽车电子电器系统股份有限公 司 英文全称：Hubei Kait Automotive Electronic & Electrical Systems Co., Ltd. 第四条 公司住所：武汉市武昌区长江路 36 附 25 号 3 楼 章 程 二〇二五年十一月 湖北开特汽车电子电器系统股份有限公司章程 第一章 总 则 第一条 为维护湖北开特汽车电子电器系统股份有限公司（以下简称"公 司"）、股东、职工和债权人的合法权益，规范公司的组织和行为，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》）、《上市公司章程指引》《上市公司股东会规则》《北京证券交易所 股票上市规则》《上市公司独立董事管理办法》和其他有关规定，制订本章程。 第二条 公司系依照《公司法》和其他有关规定成立的股份有限公司。 公司系由湖北开特汽车电子电器系统有限公司按经审计的原账面净资产值 折股以整体变更方式设立而来；在武汉市武昌区市场监督管理局注册登记，取得 营业执照，统一社会信用代码：9142010617760740 ...

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 证券代码：920978 证券简称：开特股份 公告编号：2025-140 湖北开特汽车电子电器系统股份有限公司 2025 年第二次临时股东会决议公告 1.会议召开时间：2025 年 11 月 17 日 2.会议召开地点：武汉市经开区（汉南区）兴城大道 499 号开特汽车电子工 业园二楼会议室 3.会议召开方式：现场投票和网络投票相结合 4.会议召集人：董事会 5.会议主持人：公司董事长郑海法先生和副董事长胡连清先生以远程通讯方 式出席会议，过半数董事共同推举董事潘英武先生主持本次现场会议。 6.召开情况合法合规的说明： 本次股东会的召集、召开履行了法定程序，符合法律、行政法规、《股东会 规则》和《公司章程》的相关规定。 （二）会议出席情况 出席和授权出席本次股东会的股东共 10 人，持有表决权的股份总数 60,632,256 股，占公司有表决权股份总数的 33.6793%。 其中通过网络投票参与本次股东会的股东共 ...

会社律师事务所 KING&WCOD AAL ESONS 广东省深圳市南山区科苑南路2666号 邮编:518052 中国华润大厦28层 28th Floor, China Resources Towe 2666 Keyuan South Road Nanshan District Shenzhen, Guangdong 518052 P.R. China T +86 755 2216 3333 86 755 2216 3380 北京市金杜（深圳）律师事务所 关于湖北开特汽车电子电器系统股份有限公司 2025年第二次临时股东会 之法律意见书 致:湖北开特汽车电子电器系统股份有限公司 北京市金杜（深圳）律师事务所（以下简称本所）接受湖北开特汽车电子电器 系统股份有限公司（以下简称公司）委托,根据《中华人民共和国证券法》（以下 简称《证券法》）、《中华人民共和国公司法》（以下简称《公司法》）、中国证 券监督管理委员会（以下简称中国证监会）《上市公司股东会规则》（以下简称《股 东会规则》)等中华人民共和国境内(以下简称中国境内,为本法律意见书之目的, 不包括中国香港特别行政区、中国澳门特别行政区和中国台湾省）现行有效的 ...

Core Viewpoint - Hubei Kaiter Automotive Electronics and Electrical Systems Co., Ltd. (Kaiter) has established a partnership with Shanghai Turing Intelligent Manufacturing Co., Ltd. and completed product sampling, although it has not yet generated revenue from this collaboration [1] Group 1: Company Overview - Kaiter was founded in 1996 and specializes in the research, production, and sales of automotive electronic and electrical system products, including sensors, controllers, and actuators [1] - The company is recognized as a national-level specialized and innovative "little giant" enterprise [1] Group 2: Clientele and Market Position - Kaiter's clients include major automotive manufacturers such as SAIC Motor Corporation, GAC Group, and Great Wall Motors, as well as new energy vehicle companies like WM Motor, Xpeng, and HiPhi [1] - The company also supplies products to BYD [1] Group 3: Robotics Application Development - In addition to the ongoing collaboration with Turing Intelligent Manufacturing, Kaiter has formed a joint venture with Xi'an Xutong Electronic Technology Co., Ltd. to focus on developing electronic mechanical brake (EMB) force sensors, encoders, and six-dimensional force sensors for the robotics sector, achieving some progress [1] Group 4: Financial Information - As of November 11, 2025, Kaiter's stock price is 38.25 yuan, with a slight increase of 0.05%, and the total market capitalization is approximately 6.886 billion yuan [2]

证券代码：920978 证券简称：开特股份 公告编号：2025-139 湖北开特汽车电子电器系统股份有限公司 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 二、投资者关系活动情况 □特定对象调研 √业绩说明会 □媒体采访 □现场参观 □新闻发布会 □分析师会议 □路演活动 □其他 活动时间：2025 年 11 月 10 日 活动地点：价值在线（https://www.ir-online.cn/）网络互动。 参会单位及人员：通过网络方式参与公司本次业绩说明会的投资者。 上市公司接待人员：董事长兼总经理郑海法先生、董事会秘书李元志先生、 财务总监余雄兵先生、保荐代表人宋德华先生。 三、投资者关系活动主要内容 本次业绩说明会通过三季度报告视频解读等形式，介绍公司基本情况，回顾 公司前三季度经营成果及对未来发展展望。同时，公司就投资者关心的问题进行 了沟通交流，主要问题及回复如下： 问题 1：截至三季度末，公司的存货水平较高，其中发出商品金额是多少？ 回复： 尊敬 ...

Investment Rating - The report upgrades the investment rating to "Buy" based on the company's strong performance and growth prospects [3][6]. Core Insights - The company achieved a revenue of 796 million yuan in the first three quarters of 2025, representing a year-on-year growth of 43.84%. The net profit attributable to shareholders was 130 million yuan, up 37.24% year-on-year [3][6]. - The company's products have gained significant brand recognition and competitive advantages in the industry, with a diverse client base including major automotive manufacturers and new energy vehicle companies [6]. - Research and development (R&D) expenses increased by 49.60% to 38 million yuan, reflecting the company's commitment to innovation and product development [6]. Financial Performance Summary - For the first three quarters of 2025, the company's gross margin was 32.43%, slightly down by 0.05 percentage points compared to the same period last year [6]. - The company forecasts earnings per share (EPS) of 1.02 yuan and 1.37 yuan for 2025 and 2026, respectively, with corresponding price-to-earnings (PE) ratios of 40 and 30 [6][7]. - The total revenue is projected to grow from 826 million yuan in 2024 to 1.799 billion yuan in 2027, indicating a strong upward trend [7].

Core Insights - The company reported strong financial performance for the first three quarters of 2025, with revenue of 796 million yuan, a year-on-year increase of 43.84%, and a net profit attributable to shareholders of 130 million yuan, up 37.24% year-on-year [1][2] Financial Performance - For Q3 2025, the company achieved revenue of 293 million yuan, reflecting a year-on-year growth of 42.13%, and a net profit of 45 million yuan, which is a 32.37% increase year-on-year [1] - The company's non-recurring net profit for the first three quarters rose by 50.98% year-on-year, driven by the rapid growth of actuator products [2] Market Trends - In the automotive sector, China's production and sales for the first three quarters of 2025 reached 24.33 million and 24.36 million vehicles, respectively, marking increases of 13.3% and 12.9% year-on-year [2] - The penetration rate of new energy vehicles reached 46.1%, with production and sales of 11.24 million and 11.22 million units, reflecting year-on-year growth of 35.2% and 34.9% [2] Product Development and Expansion - The company is experiencing significant growth in sensor and controller products, with actuator product revenue increasing by 77.41% year-on-year in H1 2025, and its sales proportion rising from 36.67% to 44.91% [2] - The company is actively expanding its production capacity, with fixed assets increasing by 51.66% since the beginning of the year, primarily due to the expansion of its subsidiary Yunmeng Electronics [2] Strategic Initiatives - The company is strategically entering the fields of embodied intelligence and liquid cooling, having established a joint venture for embodied intelligence equipment and developed samples for six-dimensional force sensors and electronic mechanical brake sensors [3] - A strategic partnership was formed with a national-level specialized company to leverage strengths in automotive thermal management and smart energy management, aiming to build a supply chain for energy storage and data centers [3] Profit Forecast - The company is expected to benefit from the ongoing trends of electrification and intelligentization in the automotive industry, with projected net profits of 186 million, 243 million, and 316 million yuan for 2025-2027, representing year-on-year growth rates of 34.96%, 30.6%, and 30.09% respectively [4]

湖北开特汽车电子电器系统股份有限公司 2025 年三季度报告业绩说明会预告公告 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、 说明会类型 湖北开特汽车电子电器系统股份有限公司（以下简称"公司"）于 2025 年 10 月 30 日在北京证券交易所信息披露平台（www.bse.cn）披露了《2025 年三季 度报告》（公告编号：2025-134）。为方便广大投资者更深入了解公司 2025 年三 季度经营业绩的具体情况，加强与投资者的沟通与交流，公司拟召开 2025 年三 季度报告业绩说明会。 二、 说明会召开的时间、地点 （一）会议召开时间：2025 年 11 月 10 日（星期一）15:00-16:00。 证券代码：920978 证券简称：开特股份 公告编号：2025-138 本次 2025 年三季度报告业绩说明会将采用网络方式召开，投资者可登录"价 值在线"（www.ir-online.cn）参与本次活动。 三、 参加人员 董事长兼总经理：郑海法先生 财务总监：余雄兵先生 董事会秘书：李元志先 ...

Group 1: Report Industry Investment Rating - No relevant content provided Group 2: Core Viewpoints of the Report - In Q3 2025, the total holdings of public - offering funds in the Beijing Stock Exchange (BSE) increased steadily, with expanding market breadth and deepening participation. The allocation style shifted from high concentration to diversification, focusing on high - end manufacturing and emerging industries. Theme funds saw growth in both scale and returns, and passive products contributed stable increments [3]. Group 3: Summary According to the Table of Contents 1. Fund Third - Quarter Report Summary - In Q3 2025, 71 BSE companies entered the top ten heavy - holding lists of various funds, and the market value of public - offering heavy - holdings in the BSE reached 1.031 billion yuan. Over 30 funds heavily held shares of 10 companies, with the number of funds holding Nacanoor and Jinbo Biology ranking first at 54 each. 49 companies were increased in holdings, 19 were reduced, and 18 exited the heavy - holding list. 30 new companies entered the list compared to Q2 2025 [6]. - A total of 142 funds included BSE companies in their top ten holdings, with 103 non - BSE theme funds accounting for 72.5%, indicating growing market attention [8]. - From Q3 2023 to Q3 2025, the total market value of BSE public - offering heavy - holding stocks showed an upward trend, breaking through 1 billion yuan in Q3 2025 (qoq + 4%). The proportion of public - offering heavy - holdings in the BSE in the total public - offering heavy - holding market value reached 0.26% in Q3 2025, a slight decline [11][14]. - The number of funds heavy - holding the BSE increased rapidly from 49 in Q3 2023 to 142 in Q3 2025. The increase was mainly contributed by non - BSE active equity funds and index funds. The heavy - holding market value of non - BSE active equity funds decreased slightly to 263 million yuan, while that of index funds exceeded 500 million yuan [18]. 2. Active Equity 2.1 Active Equity Overall - In Q3 2025, active equity funds showed a more diversified allocation trend, with the CR5 ratio dropping from 61% to 54%. Jinbo Biology's allocation ratio decreased by nearly 10 percentage points, while Nacanoor's increased to 14.9% and ranked second, and Kait Co., Ltd. was also significantly increased in holdings [3][20]. - The proportion of active equity funds' holdings in the outstanding shares of individual stocks changed. Kait Co., Ltd. ranked first with a 9.8% ratio, and Nacanoor ranked second with 9.2%. Newly listed companies such as Guangxin Technology and Haidaer entered the list with a ratio exceeding 5%, indicating a shift of funds towards small - and medium - cap stocks with growth potential [25]. - Active equity institutions showed a differentiated adjustment in positions. Guangxin Technology led the increase in holdings, while Tongli Co., Ltd. was significantly reduced. In terms of industry allocation, the proportion of the power equipment industry increased by 12 percentage points to 27.0%, becoming the largest heavy - holding industry, while beauty care and machinery industries were reduced [27][28]. 2.2 North - Exchange Active Theme Funds - As of October 29, 2025, the total scale of 11 BSE active theme funds reached 579.4 million yuan, and the average quarterly return was 9.7%, outperforming the BSE 50 Index [30]. 2.2.1 Structural Changes - In Q3 2025, Nacanoor rose to the top of the heavy - holding list of BSE theme funds, Kait Co., Ltd. rose to the second place, and Minshida remained third. Ten new companies entered the top ten heavy - holding list, such as Gobica, Guangxin Technology, etc. [33][34]. 2.2.2 Changes in Each Fund - In Q3 2025, most funds maintained high positions or moderately increased positions, focusing on sub - leading companies with stable performance and reasonable valuations. Some funds increased the layout of emerging fields such as innovative drugs, AI computing power, and energy storage. The 11 BSE active theme funds generally increased their holdings in companies like Gobica, Nacanoor, and Kait Co., Ltd. [37][38]. 3. North - Exchange Passive Theme Funds - The scale of BSE passive theme funds continued to grow steadily to 1.208 billion yuan in Q3 2025, with an increase of 96 million yuan compared to the previous period. The BSE Specialized and Sophisticated New Index products are expected to be launched soon, which may bring considerable incremental funds to the market [3].