EF001 免責聲明 | 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 | 大行科工（ 深 圳 ）股份有限公司 | | 股份代號 | 02543 | | 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2025年12月31日止年度的全年業績公告 | | 公告日期 | 2026年3月27日 | | 公告狀態 | 新公告 | | 股息信息 | | | 股息類型 | 末期 | | 股息性質 | 普通股息 | | 財政年末 | 2025年12月31日 | | 宣派股息的報告期末 | 2025年12月31日 | | 宣派股息 | 每 股 1.118 RMB | | 股東批准日期 | 2026年5月14日 | | 香港過戶登記處相關信息 | | | 派息金額及公司預設派發貨幣 | HKD， 金額有待公佈 | | 匯率 | 有待 ...

Financial Performance - Revenue reached RMB 641.5 million, an increase of approximately 42.3% compared to RMB 450.7 million in 2024[4] - Profit attributable to equity shareholders was RMB 63.5 million, up about 21.4% from RMB 52.3 million in 2024[4] - Adjusted net profit (non-HKFRS) was RMB 76.2 million, a 45.6% increase from RMB 52.4 million in 2024[4] - Gross margin improved to 33.4%, up 0.4 percentage points from 33.0% in 2024[4] - Net profit for 2025 was approximately RMB 61.1 million, reflecting a 16.9% increase from RMB 52.3 million in 2024[31] - Adjusted net profit (non-HKFRS measure) for 2025 reached RMB 76.2 million, a 45.6% increase from RMB 52.4 million in 2024, driven by strong sales growth and improved cost control[34] - Total revenue for 2025 was RMB 641.5 million, up from RMB 450.7 million in 2024, reflecting a significant growth in sales[38] - Gross profit for 2025 was approximately RMB 214.3 million, a 44.0% increase from RMB 148.7 million in 2024, with a gross margin of 33.4%[21] - The company's sales cost rose to approximately RMB 427.2 million in 2025, a 41.5% increase from RMB 302.0 million in 2024, primarily due to increased production costs and material usage[22] - Cash and cash equivalents increased to RMB 419.3 million as of December 31, 2025, compared to RMB 101.8 million in 2024, primarily due to proceeds from the IPO[36] - Shareholders' equity rose from RMB 125.8 million in 2024 to RMB 530.6 million in 2025, mainly due to IPO proceeds and continued profitability[35] - Operating cash flow for 2025 was RMB 37.9 million, down from RMB 78.9 million in 2024, impacted by increased inventory and receivables[41] Market Position and Strategy - Market share in the Chinese folding bicycle market was approximately 26.3% and 36.5%, maintaining the leading position[6] - The company expanded its retail network to over 850 points in China and established a sales network in over 40 countries[8] - The company plans to expand its distribution network and enhance online operations, focusing on high-potential international markets such as the US, Europe, and Southeast Asia[15] - The global folding bicycle retail market is projected to grow from RMB 23.1 billion in 2024 to RMB 40.7 billion in 2029, with a compound annual growth rate of approximately 12.0%[13] - The company aims to upgrade its brand from "industry-known" to "consumer-desired" through cross-industry collaborations and enhanced retail experiences[13] Research and Development - Continuous investment in R&D is planned, focusing on high-end talent acquisition and enhancing the collaborative efficiency of the R&D team[13] - Research and development expenses increased to approximately RMB 24.1 million in 2025, a 37.5% rise from RMB 17.6 million in 2024, driven by hiring more R&D personnel and product development[28] - The company has 140 valid patents, including 22 invention patents, enhancing its technological leadership[8] Online and E-commerce Initiatives - The company has established online stores on major e-commerce platforms like Amazon and Walmart, enhancing its penetration and brand influence in key markets such as the US, Europe, the UK, and Australia[10] - Online sales increased significantly, contributing RMB 167.9 million in 2025, up 67.7% from RMB 100.2 million in 2024[19] Dividend and Shareholder Information - The board proposed a final dividend of RMB 1.118 per ordinary share for the year ending December 31, 2025[4] - Total dividends declared for the year ended December 31, 2025, amounted to RMB 35,000,000, with a proposed final dividend of RMB 36,658,000 pending shareholder approval[62] - The audited profit available for distribution to shareholders as of December 31, 2025, is approximately RMB 635 million[89] Financial Management and Cash Flow - The company raised approximately RMB 407.9 million from its global offering, with net proceeds of about RMB 313.9 million after expenses[74] - The company plans to allocate 30% of the net proceeds to enhance production facilities and supply chain systems, with an expected completion date of September 9, 2030[74] - Trade payables decreased to RMB 59,920,000 in 2025 from RMB 82,049,000 in 2024, indicating improved cash flow management[69] - The company has no trade receivables overdue by 90 days or more as of December 31, 2025, compared to RMB 17,967,000 in 2024, suggesting effective credit management[68] Corporate Governance and Compliance - The audit committee has reviewed the financial results for the year ending December 31, 2025, and confirmed compliance with applicable accounting standards[85] - The company is committed to maintaining high corporate governance standards to protect shareholder interests[82] - The company plans to hold the annual general meeting on May 14, 2026[91] Future Outlook - The global bicycle market is experiencing a post-pandemic demand adjustment, with some overseas markets entering destocking phases, prompting the company to focus on the more stable growth of the Chinese mainland market[11] - The "Shared 360" project aims to evolve into an open ecosystem strategy, enhancing collaboration with innovative manufacturers and technology companies[15]

（股份代號：2543） 董事會會議通告 大行科工（深圳）股份有限公司（「本公司」）之董事會（「董事會」）謹此宣佈，本公司將 於2026年3月27日舉行董事會會議，藉以考慮及批准（其中包括）本公司及其附屬公 司截至2025年12月31日止年度的全年業績、其發佈、宣派及派付末期股息（如有）， 以及處理任何其他事宜。 承董事會命 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，概不對因本公告全部或任何 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。 DAHON TECH (SHENZHEN) CO., LTD. 大 行 科 工（ 深 圳 ）股 份 有 限 公 司 （於中華人民共和國註冊成立的股份有限公司） 執行董事兼董事會主席 韓德瑋博士 中國深圳 2026年3月17日 於本公告日期，本公司執行董事為韓德瑋博士、李桂玉女士、劉國存女士及李秀芬 女士；以及本公司獨立非執行董事為李勵生博士、劉學權先生及趙根生先生。 大行科工（深圳）股份有限公司 ...

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 致：香港交易及結算所有限公司 公司名稱: 大行科工（深圳）股份有限公司（「本公司」） 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 | H | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02543 | 說明 | H股 | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 9,041,000 | RMB | | 1 RMB | | 9,041,000 | | 增加 / 減少 (-) | | | | | | RMB | | | | 本月底結存 | | | 9,041,000 | RMB | | 1 RMB | | 9,041,000 | | 2. 股份分類 | 普通股 | 股份類別 | 其他類別 (請 ...

Group 1 - The company is scheduled to hold a board meeting on March 3, 2026, to review and approve the annual performance announcement for the year ending December 31, 2025, and to consider the distribution of the final dividend [2] - The company is expected to benefit from high-end transformation, improved gross margins from in-house production, and significant growth in online channels, with four major catalysts anticipated to be released in 2026 [2] - The upcoming annual performance report will summarize the company's operational results for 2025, and the market is keen to see if the results align with institutional expectations [2] Group 2 - The company's share capital structure remains stable, with no changes reported in the number of H-shares and domestic shares as of the end of December 2025 [3] - No other significant events, such as new product launches or major collaborations, have been identified in the public information [3] - Investors are advised to closely monitor the official announcements from the Hong Kong Stock Exchange for performance details and potential updates [3]

Investment Rating - The report initiates coverage with a "Buy" rating for the company [3] Core Insights - The company is a leading player in the global folding bicycle market, holding a market share of 6.2% globally and 26.3% in mainland China as of 2024 [1][13] - The company's revenue and net profit have shown significant growth, with a year-on-year increase of 42.57% and 52.32% respectively in the first half of 2025 [1][27] - The folding bicycle market is still in a low penetration stage, with a global market size of 231 billion RMB in 2024, representing only 5.3% of the total bicycle market [32][39] - The company has a strong competitive advantage due to its technological patents, optimized production capacity, and robust distribution network [2][3] Company Breakdown - The company has over 40 years of technical experience and a comprehensive product matrix, which has led to sustained high growth in revenue and profitability [1][13] - The main business focuses on the development, design, manufacturing, and marketing of folding bicycles and related accessories, with over 70 models available as of April 2025 [22] - The "Shared 360" project, initiated in 2019, has become a new growth engine by granting patent licenses to other brands [22] Industry Analysis - The folding bicycle market is characterized by a high-end product trend, with an average price increase of 6.77% globally from 2019 to 2024, and 11.03% in China [42] - The market is expected to grow significantly, with a projected CAGR of 12.0% from 2024 to 2029, reaching a market size of 407 billion RMB [32] - The demand for folding bicycles is driven by diverse usage scenarios, including leisure, fitness, and family activities, expanding the user base beyond traditional cycling enthusiasts [50][51] Financial Projections - The company is expected to achieve revenues of 654 million RMB and a net profit of 77 million RMB in 2025, with year-on-year growth rates of 45.0% and 47.8% respectively [4] - The earnings per share (EPS) is projected to increase from 1.06 RMB in 2023 to 2.36 RMB in 2025 [4] - The company's return on equity (ROE) is forecasted to remain strong, with rates of 38.1% in 2025 and 36.4% in 2026 [4]

截至月份: 2026年1月31日 狀態: 新提交 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 致：香港交易及結算所有限公司 公司名稱: 大行科工（深圳）股份有限公司（「本公司」） 呈交日期: 2026年2月2日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 (註1) | | 是 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02543 | 說明 | H股 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 9,041,000 | RMB | | 1 RMB | | | 9,041,000 | | 增加 / 減少 (-) | | | | | | RMB | | | | | 本月底結存 | | | 9,041,000 | RMB | | 1 RMB | | | 9,041,000 | | 2. 股份分類 | 普通 ...

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: 2025年12月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 大行科工（深圳）股份有限公司（「本公司」） 呈交日期: 2026年1月2日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02543 | 說明 | H股 | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 9,041,000 | RMB | | 1 RMB | | 9,041,000 | | 增加 / 減少 (-) | | | | | | RMB | | | | 本月底結存 | | | 9,041,000 | RMB | | 1 RMB | | 9,041,000 | | 2. 股份分類 | 普通股 | 股份類別 | 其他類別 ( ...

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: 2025年11月30日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 大行科工（深圳）股份有限公司（「本公司」） 呈交日期: 2026年1月2日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02543 | 說明 | H股 | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 9,041,000 | RMB | | 1 RMB | | 9,041,000 | | 增加 / 減少 (-) | | | | | | RMB | | | | 本月底結存 | | | 9,041,000 | RMB | | 1 RMB | | 9,041,000 | FF301 第 2 頁 共 11 頁 v 1.1.1 | 2. ...

Summary of Dahon's Conference Call Company Overview - Dahon is a leading player in the domestic folding bicycle market, with an estimated revenue of approximately 450 million yuan in 2024 and a compound annual growth rate (CAGR) of 33% from 2022 to 2024. The company holds a significant market share, with retail sales accounting for 36% and a sales volume share of 26% in the domestic market. However, 90% of its revenue is derived from the domestic market, indicating substantial potential for expansion in overseas markets [2][3]. Industry Insights - The global folding bicycle market is projected to exceed 40 billion yuan by 2029, with an annual growth rate of about 15%. The main trends driving this growth include electrification and lightweight materials, particularly in the European market where the penetration rate of electric bicycles has reached 50%. Chinese brands are rapidly emerging in the global market [2][4][5][6]. Key Competitive Advantages - Dahon's core competitive advantage lies in its research and development capabilities, with founder Han Bo recognized as the "Father of Folding Bicycles." The company has a 40-year history and has successfully created popular products through a cost-performance strategy, continuously investing in R&D, branding, and channel development [2][7][12]. Market Demand Catalysts - The demand for folding bicycles globally is driven by changes in urban transportation and leisure activities. New materials and technological advancements have improved product performance, facilitating market penetration, especially in Europe where folding bicycles are becoming ideal for commuting and weekend outings [2][8][9]. Trends in the Folding Bicycle Industry - The industry is characterized by two major trends: electrification and the use of lightweight materials. The electrification trend, particularly in Europe, enhances riding comfort and meets the needs of an aging society. Government subsidies for electric bicycles further support this trend, although the technology barriers, especially in motor technology, remain high [6][10]. Core Technologies - Key technologies in the folding bicycle industry include folding technology, hinge technology, and performance stability. Dahon has developed advanced designs that enhance both aesthetics and performance, ensuring safety and efficiency during rides [11]. R&D and Product Development - Dahon has a strong R&D foundation, with a consistent investment of around 4% of revenue in R&D. The company has launched several successful products, such as the P8 model, which contributes significantly to its revenue [12]. Channel Strategies - Dahon employs a multi-channel strategy, including flagship stores, shop-in-shop models, and dealerships. The number of flagship stores is expected to double from 2023 to 2024, while online sales have increased significantly, accounting for over 20% of total revenue [13]. Overseas Market Expansion - Dahon is focusing on expanding into developed markets in Europe and the U.S., as well as Southeast Asia. The company has re-entered the European market through joint ventures and aims to leverage its supply chain advantages to reduce costs [14][15]. Future Outlook - Dahon anticipates a compound growth rate of over 40% in its distribution channels over the next three years, with online channels expected to grow at a rate of over 60%. The establishment of a joint venture factory is projected to boost overseas revenue significantly by 2026. Overall, the company expects a revenue CAGR of 50% and a faster profit growth rate, although it must navigate risks related to market competition, product development, and tariffs [16].