Investment Rating - The report maintains a "Buy" rating for companies in the semiconductor equipment and robotics sectors, highlighting strong growth potential in these areas [1][4][35]. Core Insights - The semiconductor equipment sector is expected to benefit from accelerated platformization and technological upgrades, with major companies launching new products at the SEMICON exhibition [1]. - The demand for optical modules is surging due to AI developments, leading to a high demand for automation equipment in the assembly process [2][3]. - The robotics industry is experiencing significant growth, particularly with the upcoming IPO of Yuzhu Technology, which has shown impressive revenue growth and profitability [4]. Summary by Sections Semiconductor Equipment - Major companies like North China Innovation and Zhongwei Company are launching advanced equipment, enhancing their product offerings in etching and deposition technologies [1]. - The report emphasizes the importance of platform-based equipment manufacturers and low domestic production rate equipment suppliers as key investment targets [1][24]. Optical Communication Equipment - The report notes that AI-driven demand is pushing the optical module market towards higher specifications, with a shift from 400G to 800G and 1.6T products [2][3]. - Automation in the assembly of optical modules is becoming essential due to the increasing complexity and precision required in production [3]. Robotics Industry - Yuzhu Technology's IPO materials reveal significant revenue growth, with a notable increase in sales of humanoid and quadruped robots [4]. - The report suggests that the robotics sector is poised for recovery and growth, particularly with the anticipated release of Tesla's V3 robot [4]. Investment Recommendations - The report recommends a diversified portfolio including companies like North China Innovation, Zhongwei Company, and Yuzhu Technology, which are positioned to benefit from industry trends [1][4][35].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈之內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 對 因 本 公 佈 全部或任何部分內容而產生或因倚賴該等內容而引致之任何損失承擔任何責 任。 HAITIAN INTERNATIONAL HOLDINGS LIMITED 海天國際控股有限公司 （於 開 曼 群 島 註 冊 成 立 的 有 限 公 司） （股 份 代 號：1882） 有關建議委任獨立非執行董事的補充公佈 茲 提 述 本 公 司 日 期 為 二 零 二 六 年 三 月 十 六 日 的 公 佈，內 容 有 關（其 中 包 括）建 議 委任石建輝先生及貝洪俊女士為獨立非執行董事（「該公佈」）。除 文 義 另 有 所 指 外，本 公 佈 所 用 詞 彙 具 有 該 公 佈 所 界 定 的 涵 義。 石建輝先生 董事會謹此根據上市規則第13.51(2)(h)條，就 上 海 證 券 交 易 所 於 二 零 二 三 年 八 月 三日作出的決定（《紀 律 處 分 決 定 書》[2023]87號）（「二零二三年上交所決定」）提 供 有 關 貝 ...

Investment Rating - The report maintains a "Buy" rating for the mechanical equipment industry, with a focus on AI and mechanical equipment investment opportunities [1]. Core Insights - The report emphasizes the potential of AI-driven mechanical equipment, particularly in the robotics sector, where companies like Yushu Technology are showing significant growth in revenue and profitability [1]. - The GTC conference highlighted the increasing demand for AI computing power, which is expected to drive growth in PCB and liquid cooling segments [2]. - The solar equipment sector is poised to benefit from Tesla's procurement of photovoltaic equipment and Blue Origin's satellite launch plans, indicating strong demand for leading equipment manufacturers [3]. Summary by Sections Recommended Companies - The report suggests a focus on companies such as Northern Huachuang, Sany Heavy Industry, and Zhongwei Company, among others, across various segments including robotics, AI devices, and solar equipment [1][2][3]. Industry Trends - The robotics industry is experiencing a significant rebound, with Yushu Technology's IPO materials indicating a revenue increase of 335.36% and a net profit increase of 674.29% for 2025 [1]. - The AI device sector is seeing advancements in architecture and cooling solutions, with Nvidia's LPU architecture expected to enhance performance and drive PCB demand [2]. - The solar equipment market is benefiting from increased demand driven by major companies like Tesla and innovative projects like Blue Origin's satellite constellation [3]. Market Dynamics - The oil service equipment sector is facing short-term adjustments due to geopolitical tensions, but long-term demand is expected to rise as oil prices remain high and reconstruction efforts in conflict areas increase [7]. - The mechanical equipment industry is projected to see significant growth opportunities due to China's increasing foreign investments and the global demand for advanced machinery [37].

Investment Rating - The report maintains a "Buy" rating for the company with a target price of 30 HKD, representing a potential upside of 34.6% from the current price of 22.28 HKD [1][4]. Core Insights - The company achieved record-high performance in 2025, with revenue reaching 17.733 billion RMB, a year-on-year increase of 10.0%, and net profit attributable to shareholders at 3.301 billion RMB, up 7.2% [2][3]. - All product lines experienced positive growth, with significant contributions from the Mars, Jupiter, and Changfei series, which saw revenue increases of 8.1%, 16.4%, and 8.9% respectively [2]. - The overseas market is expected to be a major growth driver, with overseas sales growing by 26.4% year-on-year, contributing to 42.9% of total revenue [3]. Financial Performance Summary - For 2025, the company reported a gross margin of 32.7%, an increase of 0.5 percentage points, attributed to improved supply chain management and a higher proportion of overseas sales [2]. - The projected revenues for 2026-2028 are 19.469 billion RMB, 20.806 billion RMB, and 22.666 billion RMB respectively, with net profits expected to be 3.638 billion RMB, 3.965 billion RMB, and 4.314 billion RMB [5][6]. - The earnings per share (EPS) for 2025 is projected at 2.07 RMB, with a year-on-year growth of 7.2% [5]. Market Dynamics - The report highlights that despite challenges in the domestic market due to insufficient demand, the company is well-positioned to capitalize on overseas market opportunities, particularly in Southeast Asia and South America [3]. - The company’s strategic investments in overseas manufacturing bases are expected to enhance its competitive edge and market share globally [3].

Investment Rating - The report maintains a "Buy" rating for the company [4] Core Insights - The company achieved a revenue of 17.73 billion RMB in 2025, representing a year-on-year growth of 10.0%, and a net profit of 3.30 billion RMB, up 7.2% year-on-year [1] - The company's comprehensive gross margin for 2025 was 32.7%, an increase of 0.2 percentage points, while the net profit margin was 18.6%, a decrease of 0.5 percentage points [1] - The injection molding machine sales revenue reached 16.90 billion RMB, growing by 9.7%, with parts and services revenue at 840 million RMB, up 15.6% [2] - The overseas revenue for 2025 was 7.60 billion RMB, a significant increase of 26.4%, driven by global supply chain adjustments and the company's overseas investment strategies [3] Summary by Sections Financial Performance - Revenue for 2025 was 17,733 million RMB, with a growth rate of 10.0% [5] - Net profit for 2025 was 3,301 million RMB, with a growth rate of 7.2% [5] - Earnings per share (EPS) for 2025 was 2.07 RMB [5] Sales Breakdown - Injection molding machine sales contributed 16,900 million RMB, a 9.7% increase [2] - Parts and services sales reached 840 million RMB, growing by 15.6% [2] Market Performance - Domestic revenue was 10.13 billion RMB, a slight increase of 0.2% [3] - Overseas revenue was 7.60 billion RMB, reflecting a growth of 26.4% [3] Profitability Metrics - The gross margin for 2025 was 32.7%, an increase of 0.2 percentage points [1] - The net profit margin was 18.6%, a decrease of 0.5 percentage points [1] Future Projections - The company’s net profit forecasts for 2026 and 2027 are 3,641 million RMB and 4,005 million RMB, respectively [4] - The EPS projections for 2026 and 2027 are 2.28 RMB and 2.51 RMB, respectively [4]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈之內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示 概 不 就 因 本 公 佈 全 部或任何部分內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 HAITIAN INTERNATIONAL HOLDINGS LIMITED 海天國際控股有限公司 （於 開 曼 群 島 註 冊 成 立 的 有 限 公 司） （股 份 代 號：1882） (1)執行董事及 獨 立 非 執 行 董 事 退 任； (2)建議委任執行董事及 獨 立 非 執 行 董 事；及 (3)董事委員會組成的建議變更 董 事 會 宣 佈，陳 蔚 群 先 生（「陳先生」）、樓 百 均 先 生（「樓先生」）及郭永輝先生（「郭 先 生」）將根據本公司組織章程細則於二零二六年五月十五日舉行的應屆股東 週 年 大 會 上 退 任。陳 先 生 已 知 會 董 事 會，彼 已 決 定 不 會 於 股 東 週 年 大 會 上 膺 選 連 任，以 便 投 放 更 多 時 間 於 本 身 的 其 他 事 務。此 外，郭 先 生 及 樓 先 生 各 自 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈之內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 對 因 本 公 佈 全部或任何部分內容而產生或因倚賴該等內容而引致之任何損失承擔任何責 任。 HAITIAN INTERNATIONAL HOLDINGS LIMITED 海天國際控股有限公司 （於 開 曼 群 島 註 冊 成 立 的 有 限 公 司） （股 份 代 號：1882） 截至二零二五年十二月三十一日止年度的 全年業績公佈 | 摘 要 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | | | | | | | | 二零二五年 二零二四年 變動 | | | | | | | | 人民幣百萬元 人民幣百萬元 % | | 收 入 | | | | | | 17,733.2 16,128.3 10.0 | | 毛 利 | | | | | | 5,799.1 5,235.8 10.8 | | 經營利潤 | | | | | | 3,848.8 3,533.9 8.9 | | 本公司股 ...

EF001 免責聲明 第 2 頁 共 2 頁 v 1.1.1 EF001 發行人所發行上市權證/可轉換債券的相關信息 發行人所發行上市權證/可轉換債券 不適用 其他信息 其他信息 不適用 發行人董事 於本公佈日期，執行董事為張劍鳴先生、張斌先生、張劍峰先生、陳蔚群先生及陳露女士；非執行董事為郭明光先生及劉劍波先 生；而獨立非執行董事為樓百均先生、郭永輝先生、餘俊仙女士及盧志超先生。 | 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因 | | | --- | --- | | 公告全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 | | | 股票發行人現金股息公告 | | | 發行人名稱 | 海天國際控股有限公司 | | 股份代號 | 01882 | | 多櫃檯股份代號及貨幣 | 不適用 | | 相關股份代號及名稱 | 不適用 | | 公告標題 截至二零二五年十二月三十一日止年度的全年業績公佈 | | | 公告日期 | 2026年3月16日 | | 公告狀態 | 新公告 | | 股息信息 | | | 股息類型 ...

HAITIAN INTERNATIONAL HOLDINGS LIMITED 海天國際控股有限公司 （於 開 曼 群 島 註 冊 成 立 的 有 限 公 司） （股 份 代 號：1882） 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示 概 不 就 因 本 公 告 全 部或任何部分內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 承董事會命 海天國際控股有限公司 公司秘書 李嘉文 香 港，二 零 二 六 年 三 月 四 日 於本公告日期，本公司執行董事為張劍鳴先生、張斌先生、張劍峰先生、陳蔚群先生 及 陳 露 女 士；非 執 行 董 事 為 郭 明 光 先 生 及 劉 劍 波 先 生；及 獨 立 非 執 行 董 事 為 樓 百 均 先 生、郭 永 輝 先 生、餘 俊 仙 女 士 及 盧 志 超 先 生。 董事會會議召開日期 海天國際控股有限公司（「本公司」）董事會（「董事會」）宣 佈，董 事 會 會 議 將 於 二 零 二六年三月十六日（星 期 一）舉 行，藉 以（其 中 包 括）批准發 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2026年2月28日 狀態: 新提交 FF301 致：香港交易及結算所有限公司 公司名稱: 海天國際控股有限公司 (於開曼群島註冊成立的有限公司) 呈交日期: 2026年3月2日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01882 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | 5,000,000,000 | | HKD | 0.1 | HKD | | 500,000,000 | | 增加 / 減少 (-) | | | 0 | | | HKD | | | | 本月底結存 | | | 5,000,000,000 | HKD | | 0.1 HKD | | 500,000,000 | 本月底 ...