Group 1 - The core viewpoint of the news is that Delijia's stock has shown a mixed performance, with a year-to-date increase of 6.50% and a recent decline of 15.11% over the past 20 days [2] - As of January 8, Delijia's stock price reached 66.55 yuan per share, with a market capitalization of 26.62 billion yuan [1] - The company has seen a net inflow of main funds amounting to 3.69 million yuan, indicating positive investor interest [1] Group 2 - Delijia's main business involves the research, production, and sales of high-speed heavy-load precision gear transmission products, with revenue contributions of 66.05% from high-speed transmission and 33.19% from medium-speed transmission [2] - For the period from January to September 2025, Delijia reported a revenue of 4.06 billion yuan, reflecting a year-on-year growth of 66.37%, and a net profit of 630 million yuan, up 64.96% year-on-year [2] - The company is categorized under the wind power equipment sector and is involved in various concept sectors including near-term new shares and offshore wind power [2]

Core Insights - The report emphasizes that the wind power sector is expected to break the cyclical pattern and maintain growth in 2026, driven by both onshore and offshore wind energy expansion globally, with a focus on green energy applications [10][12] - The report identifies four main investment themes for 2026: 1) Resonance of policies between China and Europe for offshore wind, 2) Green energy catalyzing non-electric utilization, 3) Profitability elasticity of major manufacturers, and 4) Sustained demand in the components sector [10][16] Group 1: Industry Overview - In 2025, the wind power sector faced cyclical pressures, but by the third quarter, the relative advantages of wind power became more pronounced due to policy impacts on the electricity market and non-electric utilization, leading to a projected double-digit growth in installed capacity for 2026 [10][20] - The report forecasts that installed capacity for onshore and offshore wind in 2026 will reach approximately 110 GW and 10 GW respectively, representing year-on-year growth of 10% and 25% [20][41] Group 2: Key Companies and Profitability Forecasts - The report highlights several key companies with investment ratings, including: - Goldwind Technology (002202.SZ) with a buy rating and projected EPS growth from 0.42 in 2024 to 1.16 in 2026 [7] - Dongfang Cable (603606.SH) also rated as buy, with EPS expected to rise from 1.47 in 2024 to 3.03 in 2026 [7] - New Strong Link (300850.SZ) rated as buy, with EPS projected to increase from 0.18 in 2024 to 2.92 in 2026 [7] - The profitability of major manufacturers is expected to improve significantly, with the average bidding price for main units increasing by 7.4% in 2025, and a high proportion of high-price orders expected to continue into 2026 [10][13] Group 3: Offshore Wind Development - The report notes that both Europe and China are emerging from a low point in offshore wind development, with a significant increase in project approvals and construction expected to drive growth in 2026 [10][56] - The offshore wind policy in China is evolving, with a focus on deep-sea technology and a significant number of projects expected to be initiated, which will enhance demand for high-voltage cables and other components [10][56] Group 4: Component Sector Dynamics - The demand for wind turbine components is projected to remain strong, with expectations of over 20,000 turbines needed annually during the "14th Five-Year Plan" period, indicating a recovery from previous supply chain constraints [10][44] - The report suggests that component manufacturers will benefit from increased capacity utilization and the introduction of new technologies, with specific companies recommended for investment, including New Strong Link and Delijia [10][13]

Group 1 - The company, Delijia, announced the approval of two proposals during its second extraordinary shareholders' meeting for 2025, which include increasing the cash management limit for idle self-owned funds and estimating the expected daily related transactions for 2026 [2]

ZHONG LUN LUN 中倫律師事務所 特殊的普通合伙 Limited Liability Partnership 北京市中伦(南京)律师事务所 关于德力佳传动科技(江苏)股份有限公司 2025 年第二次临时股东会的 法律意见书 二〇二五年十二月 FITUN 江苏省南京市鼓楼区汉中路2号亚太商务 36/F, Asia Pacific Business Building, 2 Hanzhong Road, Gulou District, Nanjing, Jiangsu 210005, China 电话/Tel:+8625 6951 1818 传真/Fax :+86 25 6951 1717 www.zhonglun.com 北京市中伦(南京)律师事务所 关于德力佳传动科技(江苏)股份有限公司 2025 年第二次临时股东会的 法律意见书 北京 · 上海 · 深圳 · 广州 · 武汉 · 成都 · 重庆 · 青岛 · 杭州 · 南京 · 香港 · 伦敦 · 纽约 · 洛杉矶 · 旧金山 Shenzhen · Guangzhou · Wuhan · Chengdu · Chongoing · Qingdao · ...

证券代码：603092 证券简称：德力佳 公告编号：2025-017 德力佳传动科技（江苏）股份有限公司 2025年第二次临时股东会决议公告 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： 本次会议是否有否决议案：无 一、 会议召开和出席情况 | 1、出席会议的股东和代理人人数 | 517 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 274,597,748 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股 | | | 份总数的比例（%） | 68.6494 | (四) 表决方式是否符合《公司法》及《公司章程》的规定，会议主持情况等。 本次股东会由公司董事会召集，会议由董事长刘建国先生主持，会议采取现 场投票和网络投票相结合的方式。会议的召集、召开及表决方式符合《中华人民 共和国公司法》《上市公司股东会规则》《上海证券交易所股票上市规则》等有关 法律、行政法规、部门规章、规范性文件和《公司章程》的有关规定。 (一) 股东会召开的时间：2025 年 12 月 ...

Group 1 - The report highlights that Jinma Amusement has achieved significant performance growth through technological breakthroughs and a comprehensive industry chain layout, covering 13 categories of large amusement facilities and 8 series of virtual immersive projects, with exports to nearly 50 countries [1][2][14] - The amusement equipment industry in China is undergoing structural upgrades driven by policy support and market demand, with the global theme park market expected to reach USD 55.9 billion in 2024, growing by 8.21% year-on-year, indicating a strong recovery trend [2][14] - Jinma Amusement is positioned as a benchmark enterprise in the industry, holding over 240 authorized patents and participating in the formulation of 26 industry standards, while continuously enhancing its R&D capabilities and accelerating the application of AI and robotics in the cultural tourism sector [2][14] Group 2 - The company has a broad customer network, deeply binding with leading domestic theme park groups and entering high-end markets in Europe and the "Belt and Road" emerging markets, with new orders expected to grow by over 40% year-on-year in 2024 [3][14] - Jinma Amusement's strategic investment in Shanghai Matrix Super Intelligence aims to promote the implementation of cultural tourism robotics, establishing a joint venture to create a digital service ecosystem [3][14] - The report projects Jinma Amusement's net profit attributable to shareholders to be CNY 1.09 billion, CNY 2.07 billion, and CNY 3.46 billion for 2025-2027, with corresponding PE ratios of 83, 44, and 26 times, respectively, and assigns a target price of CNY 81.16, indicating a potential upside of 40.7% from the current stock price [3][14]

德力佳传动科技（江苏）股份有限公司 2025 年第二次临时股东会 会议资料 2025 年 12 月 30 日 | 年第二次临时股东会会议议程 - | 2025 | 1 | - | | | --- | --- | --- | --- | --- | | 议案一——关于增加闲置自有资金现金管理额度的议案 - | 3 | - | | | | 议案二——关于 | 年度日常关联交易预计的议案 - | 2026 | 6 | - | 2025年第二次临时股东会会议议程 1、参会人员签到，股东或股东代表登记。 2、主持人宣布会议开始。 3、介绍现场出席本次会议的股东或股东代表及其代表股数，列席参会的公 司董事、高级管理人员，本次会议的见证律师。 4、主持人宣布监票、计票人员名单。 5、主持人宣读并审议以下议案： 一、会议时间：2025 年 12 月 30 日 14:30 二、会议地点：德力佳传动科技（江苏）股份有限公司会议室 三、出席人员：公司股东或股东代表，董事、高级管理人员以及公司聘请的 律师等。 四、主持人：董事长、总经理刘建国先生 五、会议安排： 6、现场股东或股东代表发言及解答问题。 7、现场股东或股东代表投票表决 ...

Group 1 - The core viewpoint of the news is that 德力佳 (Delijia) has shown significant growth in revenue and profit, with a notable increase in financing activities on December 19 [1] - On December 19, 德力佳's stock price increased by 0.01%, with a trading volume of 136 million yuan [1] - The financing buy amount for 德力佳 on the same day was 11.06 million yuan, while the financing repayment was 13.70 million yuan, resulting in a net financing outflow of 2.64 million yuan [1] Group 2 - As of December 19, the total balance of margin trading for 德力佳 was 180 million yuan, which accounts for 8.04% of its circulating market value [1] - 德力佳's main business involves the research, production, and sales of high-speed heavy-load precision gear transmission products, with revenue composition being 66.05% from high-speed transmission and 33.19% from medium-speed transmission [1] - For the period from January to September 2025, 德力佳 achieved an operating income of 4.06 billion yuan, representing a year-on-year growth of 66.37%, and a net profit attributable to shareholders of 630 million yuan, up 64.96% year-on-year [1]

Group 1 - As of November 30, 2025, Jiangsu has 717 A-share companies, an increase of 3 from the previous month, ranking third in the country, with Zhejiang Province in second place at 729 companies [3][8] - The total market value of Jiangsu's A-share companies is 85,083.8 billion yuan, a decrease of nearly 2,000 billion yuan from the previous month, but an increase of 17,104 billion yuan year-on-year [3][51] - In terms of city distribution, Suzhou leads with 227 A-share companies, followed by Wuxi with 126 and Nanjing with 124 [8][30] Group 2 - In the first eleven months of 2025, Jiangsu added 24 new A-share companies, ranking first among all provinces, with a total IPO fundraising amount of 158.74 billion yuan, placing third nationally [22][62] - Suzhou's IPO fundraising total reached 68.27 billion yuan, maintaining the top position in the province, while Wuxi, Yangzhou, and Changzhou each exceeded 10 billion yuan [23][30] - Jiangsu's A-share companies are predominantly small to mid-cap, with 309 companies valued between 1 billion and 5 billion yuan, accounting for approximately 43.1% of the total [51] Group 3 - The market value distribution shows that there are 11 companies with a market value over 100 billion yuan, ranking fourth in the country, while 187 companies exceed 10 billion yuan [51][34] - The electronic industry leads in total market value at 13,072.71 billion yuan, followed by the pharmaceutical and biological sector at 10,982.62 billion yuan [37][38] - The A-share market in Jiangsu experienced a general decline in November 2025, with 231 companies seeing price increases and 483 companies experiencing declines [55][52] Group 4 - As of November 30, 2025, Jiangsu has 49 companies in the IPO application queue, ranking third among provinces, with Suzhou leading with 20 applications [58][62] - A total of 231 companies in Jiangsu are in the IPO counseling stage, the highest in the country, with Suzhou having 76 companies [62][60] - The number of companies applying for IPOs has increased, but the number of companies in the queue has decreased significantly [62]

Core Viewpoint - Delijia experienced a decline of 1.81% on December 18, with a trading volume of 146 million yuan, indicating a potential market reaction to recent financial performance and trading activity [1] Financing Summary - On December 18, Delijia had a financing buy amount of 16.08 million yuan and a financing repayment of 15.15 million yuan, resulting in a net financing buy of 934,300 yuan [1] - As of December 18, the total financing and securities lending balance for Delijia was 183 million yuan, with the financing balance accounting for 8.16% of the circulating market value [1] Securities Lending Summary - On December 18, Delijia had no securities lent or repaid, resulting in a securities lending balance of 0 shares and 0 yuan [1] Company Overview - Delijia Transmission Technology (Jiangsu) Co., Ltd. was established on January 12, 2017, and is located in Wuxi City, Jiangsu Province [1] - The company specializes in the research, production, and sales of high-speed heavy-load precision gear transmission products, with revenue composition of 66.05% from high-speed transmission, 33.19% from medium-speed transmission, and 0.76% from other business [1] Financial Performance - For the period from January to September 2025, Delijia achieved an operating income of 4.059 billion yuan, representing a year-on-year growth of 66.37% [1] - The net profit attributable to the parent company was 630 million yuan, reflecting a year-on-year increase of 64.96% [1] Shareholder Information - As of November 7, 2025, Delijia had 54,300 shareholders, an increase of 301,361.11% compared to the previous period, with an average of 616 circulating shares per shareholder [1]