浙江皇马科技股份有限公司第二期员工持股计划（草案）摘要 （草案）摘要 二〇二五年十一月 1 浙江皇马科技股份有限公司第二期员工持股计划（草案）摘要 声明 证券简称：皇马科技 证券代码：603181 浙江皇马科技股份有限公司 第三期员工持股计划 本公司及全体董事保证本员工持股计划及其摘要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。 2 浙江皇马科技股份有限公司第二期员工持股计划（草案）摘要 风险提示 一、浙江皇马科技股份有限公司（以下简称"皇马科技""公司"或 "本公司"）第三期员工持股计划（草案）（以下简称"本员工持股计划草 案"）须经公司股东会批准后方可实施，本员工持股计划草案能否获得公司 股东会批准，存在不确定性。 二、有关公司第三期员工持股计划（以下简称"本员工持股计划"）的 具体的资金来源、出资金额、预计规模和具体实施方案等属初步结果，能否 完成实施，存在不确定性。 三、若员工认购资金较低，本员工持股计划存在无法成立的风险；若员 工认购份额不足，本员工持股计划存在低于预计规模的风险。 四、股票价格受公司经营业绩、宏观经济周期、国际/国内政治经济形势 及 ...

浙江皇马科技股份有限公司第三期员工持股计划（草案） 证券简称：皇马科技 证券代码：603181 浙江皇马科技股份有限公司 第三期员工持股计划 （草案） 二〇二五年十一月 1 浙江皇马科技股份有限公司第三期员工持股计划（草案） 声明 本公司及全体董事保证本员工持股计划及其摘要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。 2 浙江皇马科技股份有限公司第三期员工持股计划（草案） 风险提示 一、浙江皇马科技股份有限公司（以下简称"皇马科技""公司"或 "本公司"）第三期员工持股计划（草案）（以下简称"本员工持股计划草 案"）须经公司股东会批准后方可实施，本员工持股计划草案能否获得公司 股东会批准，存在不确定性。 二、有关公司第三期员工持股计划（以下简称"本员工持股计划"）的 具体的资金来源、出资金额、预计规模和具体实施方案等属初步结果，能否 完成实施，存在不确定性。 三、若员工认购资金较低，本员工持股计划存在无法成立的风险；若员 工认购份额不足，本员工持股计划存在低于预计规模的风险。 四、股票价格受公司经营业绩、宏观经济周期、国际/国内政治经济形势 及投资者心理等多种 ...

证券代码：603181 证券简称：皇马科技 公告编号：2025-043 浙江皇马科技股份有限公司 关于召开2025年第二次临时股东会的通知 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： 召开的日期时间：2025 年 11 月 26 日 14 点 30 分 召开地点：浙江省绍兴市上虞区杭州湾上虞经济技术开发区皇马尚宜公司会 议室 (五)网络投票的系统、起止日期和投票时间。 网络投票系统：上海证券交易所股东会网络投票系统 股东会召开日期：2025年11月26日 本次股东会采用的网络投票系统：上海证券交易所股东会网络投票系统 一、 召开会议的基本情况 (一)股东会类型和届次 2025年第二次临时股东会 (二)股东会召集人：董事会 (三)投票方式：本次股东会所采用的表决方式是现场投票和网络投票相结合的方 式 (四)现场会议召开的日期、时间和地点 网络投票起止时间：自2025 年 11 月 26 日 至2025 年 11 月 26 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股 东会召开当日的交 ...

证券代码：603181 证券简称：皇马科技 公告编号：2025-042 浙江皇马科技股份有限公司 第八届董事会第四次会议决议公告 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。 关联董事王伟松、马荣芬、王马济世回避表决。 表决结果：6 名同意，占出席会议的非关联董事人数的 100%；0 名反对；0 名 弃权。 本议案已经公司职工代表大会审议通过，尚需提请公司股东会审议。 （二）审议通过《关于公司第三期员工持股计划管理办法的议案》 具体内容详见公司同日在上海证券交易所网站（www.sse.com.cn）披露的《皇 马科技第三期员工持股计划管理办法》。 一、董事会会议召开情况 浙江皇马科技股份有限公司（以下简称"公司"）第八届董事会第四次会议 通知已于 2025 年 11 月 7 日以通讯等方式临时发出，会议于 2025 年 11 月 10 日在 子公司会议室以通讯表决方式召开。本次会议由公司董事长王伟松先生主持，应 参会董事 9 人，实际参会董事 9 人，公司高级管理人员列席了本次会议。 本次会议的召集、召开、表决程序符合《中华 ...

证券代码：603181 证券简称：皇马科技 公告编号：2025-044 浙江皇马科技股份有限公司 1、公司不存在《指导意见》等法律、法规、规范性文件规定的禁止实施员 工持股计划的情形；《第三期员工持股计划（草案）》及其摘要的内容符合《公司 法》《证券法》《指导意见》等有关法律、法规及规范性文件以及《公司章程》的 规定，不存在损害公司及全体股东利益的情形。 2、本员工持股计划遵循了依法合规、自愿参与、风险自担的基本原则，公 司通过召开职工代表大会充分征求了员工意见，不存在以摊派、强行分配等方式 强制员工参加的情形。 3、公司实施员工持股计划有利于建立和完善员工、股东的利益共享机制， 改善公司治理水平，提高职工的凝聚力和公司竞争力，调动员工的积极性和创造 性，促进公司长期、持续、健康发展。 综上，公司董事会薪酬与考核委员会同意实施公司第三期员工持股计划，并 同意将《第三期员工持股计划（草案）》相关事项提交公司董事会审议。 特此公告。 浙江皇马科技股份有限公司 董事会 2025 年 11 月 11 日 董事会薪酬与考核委员会关于公司第三期员工持股计划（草 案）相关事项的核查意见 本公司董事会及全体董事保证本公告内容 ...

Group 1 - The core viewpoint of the news is that Huangma Technology's stock has seen a significant increase of 5.13%, reaching a price of 18.84 yuan per share, with a trading volume of 493 million yuan and a turnover rate of 4.58%, resulting in a total market capitalization of 11.091 billion yuan [1] - Huangma Technology, established on May 30, 2003, and listed on August 24, 2017, is primarily engaged in the research, production, and sales of specialty surfactants, with 99.97% of its revenue coming from this segment [1] Group 2 - From the perspective of major fund holdings, Dachen Fund has a significant position in Huangma Technology, with its Dachen Preferred Mixed Fund (LOF) A (160916) reducing its holdings by 685,400 shares in the third quarter, now holding 3.13 million shares, which constitutes 4.93% of the fund's net value, ranking as the eighth largest holding [2] - The Dachen Preferred Mixed Fund (LOF) A (160916) was established on July 27, 2012, with a current scale of 1.081 billion yuan, achieving a year-to-date return of 14.35%, ranking 5271 out of 8150 in its category, and a one-year return of 14.59%, ranking 5157 out of 8043 [2] - The fund manager, Dai Jun, has been in position for 10 years and 171 days, overseeing total assets of 1.325 billion yuan, with the best fund return during his tenure being 97.83% and the worst being 1.23% [2]

Core Viewpoint - Huangma Technology is a leading enterprise in the production of specialty surfactants in China, showcasing strong financial performance and growth potential in the industry [1][2]. Group 1: Business Overview - Huangma Technology was established on May 30, 2003, and listed on the Shanghai Stock Exchange on August 24, 2017, with its headquarters in Shaoxing, Zhejiang Province [1]. - The company specializes in the research, production, and sales of specialty surfactants, categorized under the basic chemical industry [1]. Group 2: Financial Performance - In Q3 2025, Huangma Technology achieved a revenue of 1.82 billion yuan, ranking 24th among 79 companies in the industry, while the industry leader, Sinochem International, reported a revenue of 35.716 billion yuan [2]. - The net profit for the same period was 337 million yuan, placing the company 7th in the industry, with the top performer, Hangyang Co., reporting a net profit of 850 million yuan [2]. Group 3: Financial Ratios - As of Q3 2025, the company's debt-to-asset ratio was 18.46%, lower than the industry average of 34.74%, indicating strong solvency and financial safety [3]. - The gross profit margin for Q3 2025 was 26.35%, surpassing the industry average of 19.93%, reflecting robust profitability [3]. Group 4: Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 69.97% to 30,200, while the average number of shares held per shareholder decreased by 41.17% to 19,500 [5]. - The top circulating shareholder, Noan Pioneer Mixed A, held 19.042 million shares, unchanged from the previous period [5]. Group 5: Future Outlook - The company is expected to see revenue growth, with projections of 2.502 billion, 3.048 billion, and 3.556 billion yuan for 2025, 2026, and 2027, respectively, and net profits of 467 million, 573 million, and 670 million yuan for the same years [5]. - The production capacity for high-end functional new materials is progressing smoothly, with a projected annual output of 330,000 tons [6].

Group 1 - The chemical products sector increased by 1.03% on October 31, with Zhuoyue New Energy leading the gains [1] - The Shanghai Composite Index closed at 3954.79, down 0.81%, while the Shenzhen Component Index closed at 13378.21, down 1.14% [1] - Notable gainers in the chemical products sector included Zhuoyue New Energy, which rose by 11.71% to a closing price of 49.88, and Baihehua, which increased by 10.02% to 16.03 [1] Group 2 - The chemical products sector saw a net inflow of 8.81 billion yuan from institutional investors, while retail investors experienced a net outflow of 1400.95 million yuan [2] - Major stocks with significant net inflows included Yongtai Technology with 3.46 billion yuan and Duofuduo with 3.37 billion yuan [3] - Conversely, stocks like Kai Met Gas and Xinheng experienced notable net outflows from retail investors, indicating a shift in investor sentiment [3]

Group 1 - The core point of the news is that Huangma Technology's stock price increased by 5.08% to 17.99 CNY per share, with a trading volume of 408 million CNY and a turnover rate of 3.91%, resulting in a total market capitalization of 10.591 billion CNY [1] - Huangma Technology, established on May 30, 2003, and listed on August 24, 2017, is located in Shaoxing, Zhejiang Province, and specializes in the research, production, and sales of specialty surfactants, with 99.97% of its revenue coming from this segment [1] Group 2 - According to data, Dachen Fund has a significant holding in Huangma Technology, with its Dachen Preferred Mixed Fund (LOF) A (160916) reducing its stake by 685,400 shares in the third quarter, now holding 3.13 million shares, which accounts for 4.93% of the fund's net value, ranking it as the eighth largest holding [2] - The Dachen Preferred Mixed Fund (LOF) A (160916) was established on July 27, 2012, with a current scale of 1.081 billion CNY, achieving a year-to-date return of 13.24% and a one-year return of 12.59%, ranking 5432 out of 8154 and 5406 out of 8046 in its category, respectively [2]

Investment Rating - The report maintains a "Strong Buy" investment rating for the company [3][7]. Core Views - The company's performance in Q3 2025 met expectations, with a revenue of 6.26 billion yuan, a year-on-year increase of 2.04%, and a net profit of 1.19 billion yuan, reflecting a year-on-year growth of 25.15% [1][7]. - The company continues to see growth in its specialty surfactants production and sales, with a total production of 14.27 million tons and sales of 14.61 million tons in the first three quarters of 2025 [7]. - The report highlights the successful progress of the Kaimeike project, which is expected to enhance future growth prospects [7]. Financial Data and Valuation - The company is projected to achieve revenues of 28.57 billion yuan, 33.93 billion yuan, and 39.54 billion yuan for the years 2025, 2026, and 2027 respectively, with net profits of 4.96 billion yuan, 5.89 billion yuan, and 6.85 billion yuan for the same years [2][7]. - The current price-to-earnings (PE) ratios are projected to be 20.4, 17.2, and 14.8 for 2025, 2026, and 2027 respectively [2][7]. - The company has a total market capitalization of 10.1 billion yuan and a return on equity (ROE) of 13.5% [3][7]. Sales and Production Performance - In Q3 2025, the average selling price of specialty surfactants was 12,100 yuan per ton, with a slight decrease of 4.1% from the previous quarter [7]. - The company reported a gross margin of 26.35% for the first three quarters of 2025, indicating a stable profitability despite fluctuations in raw material prices [7]. Future Growth Prospects - The Kaimeike project, which is expected to produce 33,000 tons of high-end functional new materials, is progressing well and is anticipated to contribute significantly to future profits [7]. - The company is also investing in technological upgrades, with a project to produce 9,000 tons of polyether amine expected to be completed in the second half of 2024 [7].