Core Viewpoint - The controlling shareholder of Huaxiang Co., Ltd. (华翔股份) has completed a share reduction plan, selling a total of 16,205,085 shares, which represents 3% of the company's total share capital, during the specified period from December 1, 2025, to February 12, 2026 [1][2]. Group 1: Share Reduction Details - The share reduction plan was first disclosed on October 22, 2025, with a maximum intended reduction of 16,205,116 shares [1][3]. - The actual reduction included 5,401,674 shares sold through centralized bidding and 10,803,411 shares sold via block trading [1][3]. - The share reduction occurred at a price range of 16.42 to 20.05 yuan per share, totaling approximately 293.23 million yuan [2][3]. Group 2: Current Shareholding Status - After the completion of the reduction, the controlling shareholder, Shanxi Linfen Huaxiang Industrial Co., Ltd. (山西临汾华翔实业有限公司), holds 281,579,735 shares, which is 52.13% of the total share capital [1][3]. - Prior to the reduction, the controlling shareholder held 297,784,820 shares, representing 55.13% of the total share capital [3].

Group 1 - The company has postponed the completion date of certain convertible bond fundraising projects, specifically the "Machining Expansion and Component Industry Chain Extension Project" and the "Intelligent Upgrade of Casting Production Line and R&D Capability Enhancement Project" from December 2025 to April 2026 [2] - The postponement has been approved by the company's board of directors, and the sponsoring institution, Guotai Junan Securities, has no objections to this decision [2] - The implementation subjects, fundraising purposes, and investment scale of the projects remain unchanged despite the delay [1][2]

Core Viewpoint - The company, Huaxiang Co., Ltd. (603112), is expanding its export business to EU member countries, focusing on engineering machinery products such as balance weights, axles, and bridge shells [1] Group 1: Export Business - The company has initiated export operations to EU member countries, primarily selling engineering machinery components [1] - Products are mainly sold through a domestic direct sales model [1] Group 2: Local Operations - To shorten delivery times and enhance customer loyalty, the company has started a project to establish local overseas warehouses [1] - The company plans to consider local sales through an EU subsidiary based on business scale and customer demand in the future [1]

Group 1 - On February 12, Huaxiang Co., Ltd. executed a block trade of 909,400 shares, with a transaction value of 14.9325 million yuan, accounting for 15.77% of the total trading volume for that day [1] - The transaction price was 16.42 yuan, which represents a discount of 7.7% compared to the market closing price of 17.79 yuan [1]

Core Viewpoint - Huaxiang Co., Ltd. announced that its controlling shareholder, Shanxi Linfen Huaxiang Industrial Co., Ltd., has completed a share reduction plan, selling approximately 16.21 million shares, which accounts for 3% of the company's total share capital [1] Group 1: Share Reduction Details - The share reduction was executed through both centralized bidding and block trading methods, with approximately 5.4 million shares sold via centralized bidding and about 10.8 million shares sold through block trading [1] - The reduction plan was officially completed on February 12, 2026, marking the end of the designated reduction period [1] Group 2: Market Reaction - Following the announcement of significant investments from notable investors, including Ge Weidong and Fang Wenyuan, each contributing 1 billion yuan, the company's stock price experienced a notable increase [1]

Core Viewpoint - Huaxiang Co., Ltd. (603112.SH) announced the completion of a share reduction plan by Huaxiang Industrial, which involved the reduction of 16.2051 million shares, accounting for 3.00% of the company's total share capital [1] Summary by Category Share Reduction Details - Huaxiang Industrial reduced its holdings through two methods: centralized bidding and block trading, with 5.4017 million shares sold via centralized bidding and 10.8034 million shares sold through block trading [1] - The share reduction plan was disclosed and executed within a specified time frame, which concluded on February 12, 2026 [1]

控股股东持股的基本情况 本次减持计划实施前，山西华翔集团股份有限公司（以下简称"公司"）控 股股东山西临汾华翔实业有限公司（以下简称"华翔实业"）持有公司股份 297,784,820 股，占公司总股本的 55.13%，其中，271,135,074 股为无限售条件流 通股，26,649,746 股为有限售条件流通股。 减持计划的实施结果情况 证券代码：603112 证券简称：华翔股份 公告编号：2026-015 山西华翔集团股份有限公司 控股股东减持股份结果公告 本公司董事会、全体董事及相关股东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： 披露的减持时间区间届满 | 股东名称 | 山西临汾华翔实业有限公司 | | | | | --- | --- | --- | --- | --- | | 减持计划首次披露日期 | 2025 年 10 月 22 日 | | | | | 减持数量 | 16,205,085股 | | | | | 减持期间 | 2025 年 12 月 1 日～2026 | 年 2 | 月 | 12 日 | | 减持方式及对 ...

Group 1 - The core point of the article is that Huaxiang Co., Ltd. announced a share reduction plan by its controlling shareholder, Shanxi Linfen Huaxiang Industrial Co., Ltd., which involved a total reduction of 16,205,085 shares, accounting for 3.00% of the company's total share capital [1] - The share reduction occurred between December 1, 2025, and February 12, 2026, through centralized bidding and block trading methods [1] - The reduction included 5,401,674 shares sold through centralized bidding and 10,803,411 shares sold through block trading, with a total reduction amounting to 293 million yuan [1] Group 2 - The share reduction price range was between 16.42 yuan per share and 20.05 yuan per share [1] - After the completion of the reduction, Shanxi Linfen Huaxiang Industrial Co., Ltd. holds 281,579,735 shares, which represents 52.13% of the total share capital [1] - The reduction plan was nearly completed, with only 31 shares remaining to reach the original planned limit [1]

Core Viewpoint - Huaxiang Co., Ltd. (603112.SH) announced the completion of a share reduction plan by Huaxiang Industrial, which involved the reduction of 16.2051 million shares, accounting for 3.00% of the company's total share capital [1] Summary by Category Share Reduction Details - Huaxiang Industrial reduced its holdings through two methods: centralized bidding and block trading, with 5.4017 million shares sold via centralized bidding and 10.8034 million shares sold through block trading [1] Timeline - The share reduction plan was disclosed and executed within a specified time frame, which concluded on February 12, 2026 [1]

Event Overview - On February 6, 2026, the company announced a revised plan for issuing convertible bonds to unspecified objects, with a total fundraising amount not exceeding RMB 1,301.02 million (including principal) [3][14] - The bonds will have a term of six years from the date of issuance, with the conversion period starting from the first trading day after six months from the end of the bond issuance until the maturity date [3][14] - On December 10, 2025, the company announced the production launch of the first production line for "humanoid robot components" at its Guangdong Shunde factory [4][14] Fundraising and Investment Plans - The raised funds will be used for enhancing the production capacity of core components and extending the industrial chain, as well as supplementing working capital [5][15] - The total investment for the core component capacity enhancement and industrial chain extension project is RMB 1.16 billion, with RMB 1.06 billion planned to be funded from the raised capital [5][15] - Investments in three major areas include RMB 512 million for smart home components, RMB 432 million for automotive components, and RMB 113 million for engineering machinery [5][15] - An additional RMB 240 million will be allocated for working capital and debt repayment to support the company's rapid growth [5][15] Production Capacity and Technology Enhancement - The smart home component capacity enhancement project aims to expand the production scale, covering the entire process from casting to precision machining, thereby increasing the added value of smart home components [5][15] - The automotive component capacity enhancement project will extend the industrial chain to the machining stage [5][15] - Both projects plan to introduce automated AI visual inspection equipment to reduce reliance on manual inspection, improve efficiency and accuracy, and lower waste losses [5][15] Production Line Details - The first production line for humanoid robot precision components has completed the installation and debugging of all high-precision core equipment and has achieved stable production [6][16] - The project focuses on manufacturing high-precision and complex components such as joint modules and reducer core structural parts, establishing a top-tier precision processing capability cluster [6][16] - The project has invested in and integrated multiple advanced processing systems, including international top multi-axis precision machining centers, ultra-precision grinding equipment, ultra-precision turning centers, micron-level wire cutting machines, and additive manufacturing systems for special materials [6][16] Financial Forecast - The company maintains its profit forecast, expecting revenues of RMB 4.2 billion, RMB 5.0 billion, and RMB 5.8 billion for the years 2025, 2026, and 2027, respectively [7][17] - The projected net profit attributable to shareholders is RMB 580 million, RMB 720 million, and RMB 850 million for the same years, with corresponding EPS of RMB 1.07, RMB 1.34, and RMB 1.57 [7][17] - Based on the closing price of RMB 17.17 on February 6, 2026, the corresponding PE ratios are 15, 12, and 10 times [7][17]