Summary of Key Points Core Viewpoint - The financing activities of Hotway Co., Ltd. (热威股份) indicate a positive trend in investor sentiment, with a net financing purchase of 2.5494 million yuan on August 21, 2025, contributing to a cumulative net purchase of 9.5639 million yuan over the last three trading days [1][2]. Financing Activities - On August 21, 2025, Hotway Co., Ltd. had a financing buy of 10.8737 million yuan and a financing repayment of 8.3243 million yuan, resulting in a net financing purchase of 2.5494 million yuan, with a financing balance of 61.9947 million yuan [1]. - The financing net purchases for the previous trading days were as follows: - August 20: 3.1174 million yuan - August 19: 3.8972 million yuan - August 18: 5.2880 million yuan - August 15: 546,500 yuan [2]. Margin Trading Balance - The total margin trading balance on August 21, 2025, was 62.0418 million yuan, reflecting an increase of 4.28% from the previous day [3][4]. - The changes in margin trading balance over the last few trading days were: - August 20: 59.4928 million yuan (increase of 3.0689 million yuan) - August 19: 56.4239 million yuan (increase of 3.9013 million yuan) - August 18: 52.5226 million yuan (increase of 5.3254 million yuan) - August 15: 47.1972 million yuan (increase of 577,300 yuan) [4].

杭州热威电热科技股份有限公司（以下简称"公司"）于 2024 年 9 月 2 日召 开第二届董事会第十七次会议和第二届监事会第十四次会议，审议通过了《关于 使用部分暂时闲置募集资金进行现金管理的议案》，同意公司使用最高额度不超 过人民币 4.8 亿元（含 4.8 亿元）的暂时闲置募集资金（含超募资金）购买安全 性高、流动性好、风险低的保本型投资产品进行现金管理，现金管理授权期限自 董事会审议通过之日起 12 个月内有效，有效期内可以循环滚动使用。具体内容 详见公司于 2024 年 9 月 3 日披露于上海证券交易所网站（www.sse.com.cn）的 《关于使用部分暂时闲置募集资金进行现金管理的公告》（公告编号：2024-055）。 证券代码：603075 证券简称：热威股份 公告编号：2025-042 杭州热威电热科技股份有限公司 关于使用部分暂时闲置募集资金进行现金管理 赎回的公告 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： 本次赎回本金：10,000 万元 一、本次使用部分暂时闲置募集资金进行现金管 ...

Group 1 - The core point of the news is that Hotway Co., Ltd. (603075) has seen significant financing activity, with a net financing purchase of 3.12 million yuan on August 20, 2025, and a cumulative net purchase of 12.30 million yuan over the last three trading days [1][4]. - The financing balance as of August 20, 2025, is 59.45 million yuan, which represents 5.77% of the circulating market value [2][4]. - The financing activities have shown a consistent increase, with net purchases rising from 546,500 yuan on August 15 to 3.12 million yuan on August 20 [2]. Group 2 - On the short selling side, there were no shares sold on August 20, but 2,000 shares were repaid, resulting in a net short selling of 2,000 shares and a remaining short balance of 1,900 shares [3]. - The total margin balance on August 20, 2025, is 59.49 million yuan, reflecting an increase of 3.07 million yuan or 5.44% from the previous day [4].

Core Viewpoint - The home appliance components sector experienced a slight decline of 0.35% on August 20, with Hai Li Co. leading the drop, while the overall market indices showed positive performance with the Shanghai Composite Index rising by 1.04% and the Shenzhen Component Index increasing by 0.89% [1] Group 1: Market Performance - The home appliance components sector's decline was noted at 0.35% [1] - The Shanghai Composite Index closed at 3766.21, up 1.04% [1] - The Shenzhen Component Index closed at 11926.74, up 0.89% [1] Group 2: Individual Stock Performance - Hongchang Technology (301008) saw a significant increase of 20.02%, closing at 30.64 with a trading volume of 198,200 shares and a transaction value of 556 million [1] - Chunguang Technology (603657) increased by 9.07%, closing at 42.21 with a trading volume of 90,800 shares and a transaction value of 374 million [1] - Huaxiang Service (603112) rose by 6.83%, closing at 18.93 with a trading volume of 347,700 shares and a transaction value of 655 million [1] - Other notable performers included Langdi Group (603726) up 3.65%, Zhucheng Technology (301280) up 1.99%, and Xiangqiang Co. (300160) up 1.76% [1] Group 3: Capital Flow - The home appliance components sector experienced a net outflow of 1.046 billion from main funds, while retail investors contributed a net inflow of 716 million [3] - Speculative funds saw a net inflow of 330 million into the sector [3]

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]

Group 1 - The second meeting of the second supervisory board of Hangzhou Rewei Electric Heating Technology Co., Ltd. was held on August 18, 2025, with all three supervisors present, confirming compliance with legal and regulatory requirements [1] - The supervisory board approved the 2025 semi-annual report and its summary, affirming that the report accurately reflects the company's financial status and operational results without any false statements or omissions [1][2] - The supervisory board also approved the special report on the storage and actual use of raised funds, confirming compliance with relevant laws and regulations, and no violations were found in the management of raised funds [2][3] Group 2 - The supervisory board approved the expected daily related party transactions for 2025, stating that the transactions align with the company's operational needs and that the decision-making process is legal and effective [3] - The pricing principles and settlement basis for the related party transactions were deemed fair and reasonable, with no harm to the interests of the company and its shareholders [3]

Core Viewpoint - Hangzhou Heatwell Electric Heating Technology Co., Ltd. is holding a half-year performance briefing on August 25, 2025, to communicate with investors and gather their opinions and suggestions [1][2]. Group 1: Event Details - The performance briefing will take place on August 25, 2025, from 15:00 to 16:00 [2]. - The event will be conducted online via the website www.ir-online.cn [2]. - Investors can submit questions before the event through the provided link [1][2]. Group 2: Participants - The meeting will include key personnel such as the General Manager, Financial Director, and Independent Directors [2]. - Specific attendees mentioned are: - General Manager: Lv Yuebin - Financial Director: Shen Yuan - Board Secretary: Zhang Liang - Independent Director: Jiang Yinzhu [2]. Group 3: Contact Information - Contact person for inquiries is Zhang Liang, with a phone number of 0571-86697018 and an email address IR@e-heatwell.com [3].

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].