Core Viewpoint - The recent financial report of Heatway Co., Ltd. (603075) shows positive growth in revenue and net profit for the first half of 2025, indicating improved profitability and operational efficiency [1]. Financial Performance - The total revenue for the first half of 2025 reached 985 million yuan, an increase of 8.91% year-on-year - The net profit attributable to shareholders was 161 million yuan, up 14.27% year-on-year - In Q2 2025, total revenue was 531 million yuan, reflecting a 9.21% increase year-on-year, while net profit for the quarter was 91.78 million yuan, a rise of 9.98% year-on-year - Gross margin improved to 31.75%, up 1.71% year-on-year, and net margin increased to 16.25%, up 5.05% year-on-year - Total operating expenses (selling, administrative, and financial expenses) amounted to 65.67 million yuan, accounting for 6.66% of revenue, a decrease of 9.14% year-on-year [1]. Key Financial Metrics - Earnings per share (EPS) rose to 0.40 yuan, an increase of 14.29% year-on-year - Operating cash flow per share surged to 0.35 yuan, a significant increase of 296.49% year-on-year - The company's net asset per share was 4.96 yuan, up 2.92% year-on-year [1]. Changes in Financial Items - Significant changes in financial items include a 32.03% decrease in trading financial assets due to the maturity of large deposits - Accounts receivable increased by 18.63% to 509 million yuan, attributed to revenue growth - Interest-bearing liabilities decreased by 14.39% to 318 million yuan, indicating improved debt management - The net cash flow from operating activities saw a dramatic increase of 299.01% due to early sales of receivables [3]. Business Operations - The company reported a return on invested capital (ROIC) of 12.57% for the previous year, indicating strong capital returns - The net profit margin was recorded at 15.51%, reflecting high added value in products or services [4]. - The company has a balanced revenue stream, with 44.32% from domestic sales and 55.68% from exports [6]. Product and Market Focus - The company exports various electric heating components, including those for civilian, commercial, industrial, and new energy vehicles - The electric heating components for new energy vehicles are already in use by major brands such as Mercedes-Benz, BMW, and Volkswagen [9]. - The sales model primarily involves direct sales, as most products are customized and developed in collaboration with clients [10]. Employee Incentives - The company implemented its first stock incentive plan in 2024, which will vest over two years, aiming to align employee benefits with company growth [8].

Group 1 - The company held its 25th meeting of the second board on August 18, 2025, with all 7 directors present, confirming compliance with legal and regulatory requirements [1] - The board approved the 2025 semi-annual report, affirming that it accurately reflects the company's financial status and operational results without any misleading statements or omissions [2][3] - The board also approved the special report on the storage and actual use of raised funds, confirming compliance with relevant laws and regulations [2][3] Group 2 - The board approved the expected daily related transactions for 2025, stating that the decision-making process is legal and does not harm the interests of the company or its shareholders [3] - The board authorized the opening of special accounts for raised funds to enhance the efficiency of fund usage and maintain investor rights, with all 7 votes in favor [4]

会议由监事会主席金莉莉主持，公司高级管理人员列席会议。会议召开符 合有关法律、法规、规章和《公司章程》的规定。出席会议的监事对各项议案进 行了认真审议并做出了如下决议： 二、监事会会议审议情况 （一）审议通过《关于 2025 年半年度报告及其摘要的议案》 经审核，监事会认为：公司 2025 年半年度报告及其摘要的编制和审议程序 符合法律、行政法规及中国证监会的规定，报告内容真实、准确、完整地反映了 公司的财务状况和经营成果，不存在任何虚假记载、误导性陈述或者重大遗漏。 未发现参与 2025 年半年度报告编制和审议的人员有违反保密规定的行为。 具体内容详见公司披露于上海证券交易所网站（www.sse.com.cn）的《2025 年半年度报告》《2025 年半年度报告摘要》。 证券代码：603075 证券简称：热威股份 公告编号：2025-040 杭州热威电热科技股份有限公司 本公司监事会及全体监事保证本公告内容不存在任何虚假记载、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法律责任。 一、监事会会议召开情况 杭州热威电热科技股份有限公司（以下简称"公司"）第二届监事会第二十 一次会议于 20 ...

证券代码：603075 证券简称：热威股份 公告编号：2025-041 杭州热威电热科技股份有限公司 关于举办2025年半年度业绩说明会的 四、投资者参加方式 投资者可于 2025 年 8 月 25 日（星期一）15:00-16:00 通过网址 https://eseb.c n/1qJsdBYTBMA 或使用微信扫描下方小程序码即可进入参与互动交流。投资者 可于 2025 年 8 月 25 日前进行会前提问，公司将通过本次业绩说明会，在信息披 露允许范围内就投资者普遍关注的问题进行回答。 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、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法律责任。 重要内容提示： 杭州热威电热科技股份有限公司（以下简称"公司"）已于 2025 年 8 月 19 日 在上海证券交易所网站（www.sse.com.cn）披露了《2025 年半年度报告》。为便 于广大投资者更加全面深入地了解公司经营业绩、发展战略等情况，公司拟定于 "杭州热威电热科技股份有限公司 2025 年半年度业绩说明会"，与投资者进行沟 通和交流，广泛听取投资者的意见和建议。 二、说明会召 ...

Core Viewpoint - The announcement details the expected daily related transactions for the year 2025 by Hangzhou Rewei Electric Heating Technology Co., Ltd, emphasizing that these transactions are necessary for normal business operations and will not affect the company's independence or create dependency on related parties [1][2]. Summary of Related Transactions - The board of directors approved the expected daily related transactions for 2025 without requiring a shareholders' meeting, with independent director Hu Chunrong abstaining from the vote [1][2]. - The independent directors confirmed that the expected transactions align with the company's operational needs and that the decision-making process is legal and effective, ensuring fair pricing and settlement [2]. - The expected amount for related transactions in 2025 is set at 18 million yuan, which constitutes 1.80% of the total expected procurement of raw materials for the year [2]. Previous Related Transactions - The previous year's expected related transactions and actual execution were reviewed, with a notable transaction involving the purchase of raw materials from Zhejiang Wanliyang New Materials Co., Ltd [2]. - The actual amount for 2024 was 5.69 million yuan, with no significant discrepancies reported [2]. Related Parties and Relationships - Zhejiang Wanliyang New Materials Co., Ltd is a wholly-owned subsidiary of Zhejiang Wanliyang Co., Ltd, with independent director Hu Chunrong serving on its board, establishing a clear related party relationship [3][4]. - The company has confirmed that Zhejiang Wanliyang New Materials Co., Ltd has a good credit standing and is capable of fulfilling its obligations [4]. Transaction Details and Pricing Policy - The expected related transactions primarily involve the procurement of raw materials necessary for the company's operations [5]. - The pricing for these transactions will be based on market prices and industry practices, ensuring fairness and preventing harm to the interests of the company and its shareholders [5]. Purpose and Impact of Related Transactions - The expected related transactions are deemed essential for the company's operational and business development needs, adhering to principles of fairness and reasonableness [5]. - The transactions will not compromise the company's independence, and the main business operations will not become reliant on related parties [5]. Verification by Sponsoring Institution - The sponsoring institution has verified that the related transactions have been properly reviewed and approved by the board and supervisory committee, with independent directors having conducted a special meeting to discuss the transactions [5].

Summary of Key Points Core Viewpoint The report outlines the fundraising activities and the actual usage of the raised funds by Hangzhou Rewei Electric Heating Technology Co., Ltd. for the first half of 2025, detailing the total amount raised, the allocation of funds, and the management of these funds. Fundraising Overview - The company raised a total of RMB 924.23 million by issuing 40,010,000 shares at RMB 23.10 per share, with a net amount of RMB 805.63 million after deducting issuance costs [1][2]. - The funds were fully received by September 5, 2023, and verified by Tianjian Accounting Firm [2]. Fund Usage and Balance - As of June 30, 2025, the actual usage of the raised funds was RMB 396.25 million, with a remaining balance of RMB 395.04 million [2][3]. - The breakdown of fund usage includes: - Project investments: RMB 363.18 million - Permanent working capital supplementation from oversubscription: RMB 27 million - Net interest income: RMB 12.67 million [2][3]. Fund Management - The company has established a fund management system to ensure the effective use of raised funds, including opening dedicated bank accounts and signing tripartite supervision agreements with banks and sponsors [2][3]. - As of June 30, 2025, the company maintained six dedicated fundraising accounts with a total balance of RMB 172.31 million [3]. Temporary Fund Supplementation - The company approved the temporary use of up to RMB 200 million of idle funds for working capital, with RMB 20 million still outstanding as of the report date [4]. - Additionally, the company is authorized to use up to RMB 480 million of idle funds for cash management, investing in low-risk, high-liquidity products [4][5]. Oversubscription Fund Usage - The company has utilized RMB 13.50 million of oversubscription funds for permanent working capital supplementation, with no other uses reported for ongoing or new projects [5][6]. Other Fund Usage Situations - The company has not reported any significant issues regarding the disclosure and usage of the raised funds, ensuring timely and accurate reporting [6][7]. - There have been no changes in the investment projects funded by the raised capital during the reporting period [6][8].

Core Viewpoint - The report highlights the financial performance and operational strategies of Hangzhou Heatwell Electric Heating Technology Co., Ltd. for the first half of 2025, showcasing growth in revenue and net profit, alongside a focus on innovation and market expansion in the electric heating components sector. Financial Performance - The company achieved a revenue of CNY 985.31 million, representing an 8.91% increase compared to CNY 904.73 million in the same period last year [2][3] - The total profit reached CNY 181.34 million, up 13.86% from CNY 159.26 million year-on-year [2][3] - The net profit attributable to shareholders was CNY 160.60 million, a 14.27% increase from CNY 140.55 million in the previous year [2][3] - The net cash flow from operating activities surged by 299.01% to CNY 141.80 million, primarily due to early sales of receivables [2][3] Industry Overview - China's home appliance exports showed resilience, with a total export volume of 221.35 million units, up 3.5%, and an export value of CNY 352.46 billion, increasing by 1.4% [3] - The retail sales of home appliances (excluding 3C products) reached CNY 453.70 billion, reflecting a 9.2% year-on-year growth [3] - The growth in the domestic appliance market is driven by policy support, consumption upgrades, and technological innovation [3] Business Strategy - The company adheres to a dual-market strategy, focusing on both domestic and international markets, emphasizing product quality and customer service [3][4] - Continuous investment in R&D has led to the development of new products and the expansion of product categories, particularly in the emerging clean appliance sector [3][4] - The company has established strategic partnerships with global appliance leaders, enhancing its market position and driving innovation [3][4] Product Segmentation - The company specializes in electric heating components for various applications, including household appliances, commercial equipment, industrial machinery, and new energy vehicles [4][5] - Key clients include major brands such as Midea, Haier, Samsung, and Bosch, ensuring a stable demand for its products [5][6] Operational Efficiency - The company employs a flexible production model to meet diverse customer needs, optimizing resource allocation and enhancing production efficiency [8][9] - It has established multiple production bases in China and Thailand, facilitating efficient production and delivery [8][9] Competitive Advantages - The company possesses strong technical capabilities, a loyal customer base, and a diversified manufacturing capacity, which contribute to its competitive edge in the electric heating market [10][11] - Quality management systems and certifications ensure high product standards and reliability [12][13]

| | 杭州热威电热科技股份有限公司2025 年半年度报告摘要 | | | | --- | --- | --- | --- | | 公司代码：603075 | 公司简称：热威股份 | | | | | 杭州热威电热科技股份有限公司 | | | | | 杭州热威电热科技股份有限公司2025 年半年度报告摘要 | | | | | 第一节 重要提示 | | | | 展规划，投资者应当到 | www.sse.com.cn 网站仔细阅读半年度报告全文。 | | | | 完整性，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 | | | | | 无 | | | | | | 第二节 公司基本情况 | | | | | 公司股票简况 | | | | 股票种类 | 股票上市交易所 股票简称 | 股票代码 | 变更前股票简 | | 称 | | | | | A股 | 上海证券交易所 热威股份 | 603075 | 不适用 | | 联系人和联系方式 | 董事会秘书 | | 证券事务代表 | | 姓名 | 张亮 卞欢 | | | | 电话 | 0571-86697018 | 0571-86697018 | | | 办公 ...

（文章来源：证券日报） 证券日报网讯 8月18日晚间，热威股份发布公告称，2025年半年度公司实现营业收入985，313，161.79 元，同比增长8.91%；归属于上市公司股东的净利润为160，599，905.65元，同比增长14.27%。 ...

（文章来源：证券日报） 证券日报网讯 8月18日晚间，热威股份发布公告称，公司第二届监事会第二十一次会议审议通过了《关 于2025年半年度报告及其摘要的议案》等多项议案。 ...