证券代码：603296 证券简称：华勤技术 公告编号：2025-091 华勤技术股份有限公司 2025年第二次临时股东大会决议公告 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： 一、 会议召开和出席情况 (一)股东大会召开的时间：2025 年 09 月 10 日 (二)股东大会召开的地点：上海市浦东新区绿科路 699 号华勤全球研发中心会议 室 (三)出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： | 1、出席会议的股东和代理人人数 | 422 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 783,081,828 | | 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（%） | 77.3195 | (四)表决方式是否符合《公司法》及《公司章程》的规定，大会主持情况等。 本次股东大会由华勤技术股份有限公司（以下简称"公司"）董事会召集， 董事长邱文生先生主持会议。本次股东大会的召集、召开程序及表决方式符合《中 华人民共和国 ...

华勤技术股份有限公司（以下简称"公司"）于2025年8月22日召开第二届董事会第十八次会议、第二届 监事会第十五次会议，审议通过了《关于2023年限制性股票激励计划预留授予部分第一个解除限售期解 除限售条件成就的议案》，同意公司为符合2023年限制性股票激励计划（以下简称"本激励计划"或"激 励计划"）预留授予部分第一个解除限售期解除限售条件的29名激励对象办理解除限售相关事宜，本次 可解除限售数量为187,881股，占目前公司总股本的0.0185%。现将有关事项说明如下： 一、本激励计划的批准及实施情况 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、准确性和完整性依法承担法律责任。 重要内容提示： ● 本次股票上市类型为股权激励股份；股票认购方式为网下，上市股数为187,881股。 本次股票上市流通总数为187,881股。 ● 本次股票上市流通日期为2025年9月12日。 1、2023年12月12日，公司召开第二届董事会薪酬与考核委员会第一次会议、第二届董事会第二次会议 和第二届监事会第二次会议，审议通过了《关于〈公司2023年限制性股票激励计划（草案 ...

证券代码：603296 证券简称：华勤技术 公告编号：2025-090 华勤技术股份有限公司 关于 2023 年限制性股票激励计划预留授予部分 第一个解除限售期解除限售暨上市的公告 重要内容提示： 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、准确性和完整性依法承担法律责任。 本次股票上市流通总数为187,881股。 本次股票上市流通日期为2025 年 9 月 12 日。 华勤技术股份有限公司（以下简称"公司"）于 2025 年 8 月 22 日召开第二届 董事会第十八次会议、第二届监事会第十五次会议，审议通过了《关于 2023 年限 制性股票激励计划预留授予部分第一个解除限售期解除限售条件成就的议案》，同 意公司为符合 2023 年限制性股票激励计划（以下简称"本激励计划"或"激励计 划"）预留授予部分第一个解除限售期解除限售条件的 29 名激励对象办理解除限 售相关事宜，本次可解除限售数量为 187,881 股，占目前公司总股本的 0.0185%。 现将有关事项说明如下： 一、本激励计划的批准及实施情况 1、2023 年 12 月 12 日，公司召开 ...

Summary of Huaqin Technology (603296.SS) Conference Call Company Overview - **Company**: Huaqin Technology (603296.SS) - **Event**: Asia Leaders Conference 2025 - **Date**: September 4, 2025 - **Rating**: Buy (on CL) Key Points 1. Data Center Business - Management is optimistic about the data center business, driven by increasing AI infrastructure demand in China - Huaqin aims to maintain its market-leading position due to its experience in AI infrastructure manufacturing and successful partnerships with major Chinese CSPs - Continued investment in R&D for AI servers, including: - Various chipset platforms - Liquid cooling solutions and vertical power supply systems - Expected revenue mix from data center business to rise from 21% in 2024 to 56% in 2028E, supported by diversified product lines and strong R&D capabilities [2][1] 2. Legacy Business (PC and Smartphone ODM) - Huaqin remains positive about its legacy business, citing: - Stable market share and increasing penetration in smartphone ODM - Entry into new global-tier consumer electronics PC supply chains, which may enhance market share - Anticipated growth in legacy business will support overall company growth, driven by: - Accumulated experience in consumer electronics ODM - Improved operational profit margins due to rising business scale - Established partnerships with global-tier consumer electronics brands [3][6] 3. Capital Expenditure (Capex) and Operating Expenditure (Opex) Outlook - Capex for 2024 is projected to increase by 41% YoY to Rmb2.1 billion - Management expects capex to continue rising in 2025 and remain elevated in subsequent years to support growth in consumer electronics, data centers, automotive electronics, and AIoT - Despite increased R&D investments, the overall opex ratio is expected to decrease in the long run as revenues scale up - Projected earnings growth at a 27% CAGR from 2025 to 2028E, driven by revenue growth across diversified product lines and disciplined cost control [7][1] 4. Valuation and Price Target - 12-month price target set at Rmb124, based on a target 2026E P/E multiple of 23.9x - Target P/E derived from correlation between P/E and EPS growth of peers - Key risks include: - Slower-than-expected ramp-up of AI server production in China - Delays in production site diversification - Increased pricing competition [8][9] 5. Financial Projections - Market cap: Rmb89.4 billion / $12.5 billion - Revenue projections: - 2024: Rmb109.9 billion - 2025E: Rmb162.0 billion - 2026E: Rmb224.4 billion - 2027E: Rmb276.3 billion - EBITDA projections: - 2024: Rmb3.3 billion - 2025E: Rmb5.1 billion - 2026E: Rmb6.5 billion - 2027E: Rmb8.4 billion - EPS projections: - 2024: Rmb2.88 - 2025E: Rmb3.99 - 2026E: Rmb5.19 - 2027E: Rmb6.56 [9][1] Additional Insights - Huaqin's disciplined cost control and operational efficiency are crucial for sustaining earnings growth - The company is well-positioned to capitalize on the growing demand for AI and consumer electronics, with a strong focus on R&D and strategic partnerships [7][1]

Core Insights - The company is entering a high growth phase starting in 2025, with a 113% increase in revenue and a 46% increase in net profit for the first half of the year [2] - The revenue structure is stable and diversified, with smart phones, personal computers, data business, and other segments each contributing approximately 25% to total revenue [2] - The top five customers account for about 50% of total revenue, indicating a healthy and resilient customer structure [2] Business Segments - In the smart terminal sector, the company expects steady growth in smart phones due to increasing ODM penetration, with a projected year-on-year shipment growth rate of nearly 30% in 2025 [2][3] - The wearable products segment is anticipated to maintain rapid growth as white-label products transition to branded ones [2] - The personal computer segment is projected to grow over 20% in 2025, driven by increased market share from existing customers and new product introductions [3] - The data business will leverage the rapid growth in computing power demand, maintaining its position as a core supplier through a comprehensive product offering [2] Competitive Advantages - The company’s core competencies in the personal computer sector include technological innovation, rapid product development cycles, and a global manufacturing presence [3][4] - The company is expanding its ODM market share in the personal computer segment, with a target of reaching 10% in 2025 [4] - The company has established a global dual-circulation manufacturing layout, with production bases in China and overseas locations such as Vietnam, Mexico, and India [4]

Core Viewpoint - The report details the equity change of Hainan Huaxiao Venture Capital Partnership (Limited Partnership) in Huqin Technology Co., Ltd., indicating a reduction in shareholding to below 5% due to various corporate actions and a planned share reduction [1][6][11]. Group 1: Company Information - The disclosing entity is Hainan Huaxiao Venture Capital Partnership (Limited Partnership), with its registered address in Haikou, Hainan Province [4]. - The registered capital of the entity is 37,702.84 million RMB, and it operates from May 26, 2017, to May 25, 2037 [5]. Group 2: Equity Change Details - The equity change is primarily due to the entity's need for funds and arrangements, leading to a reduction in shares held in the listed company [6]. - The entity's shareholding in Huqin Technology was reduced to 4.9999% after selling 1,996,300 shares through centralized bidding [11]. Group 3: Shareholding Changes - The entity's shareholding was diluted from 5.2058% to 5.1946% following the issuance of 1,549,395 restricted stocks on February 6, 2024 [10]. - Following a capital increase through a differentiated dividend plan, the entity's shareholding increased to 5.1979% on June 11, 2024, before being diluted again to 5.1958% on August 20, 2024 [10]. - The entity plans to reduce its holdings by up to 6,922,002 shares, which is not more than 0.68% of the total share capital, within three months after the announcement made on July 26, 2025 [7].

Core Viewpoint - The report outlines a reduction in shareholding by Hainan Huaxiao Venture Capital Partnership (Limited Partnership) in Huqin Technology Co., Ltd., bringing their ownership below the 5% threshold [1][5]. Group 1: Shareholding Changes - Hainan Huaxiao's shareholding in Huqin Technology decreased from 37,702,840 shares (5.2058%) to 50,787,676 shares (4.9999%) [6][9]. - The reduction in shareholding is attributed to a combination of passive dilution from the company's stock incentive plan and active selling of shares [5][6]. Group 2: Purpose of Shareholding Change - The purpose of the shareholding reduction is based on the information disclosure obligation's need for funds and arrangements [5]. Group 3: Future Plans - Hainan Huaxiao plans to reduce its holdings by up to 6,922,002 shares, which represents no more than 0.68% of the total share capital, within three months following the announcement [5]. Group 4: Legal Compliance - The report confirms that the information disclosure obligation has complied with relevant laws and regulations, ensuring the accuracy and completeness of the report [2][8].

信息披露义务人：海南华效创业投资合伙企业(有限合伙) 上市地点：上海证券交易所 股票简称：华勤技术 股票代码：603296 华勤技术股份有限公司 简式权益变动报告书 上市公司名称：华勤技术股份有限公司 住所/通讯地址：海南省海口市保税区（海口市南海大道168号）金盘路和坤大 厦537-1室 通讯地址：上海市浦东新区绿科路699号 权益变动性质：减少，减少后持股比例触及5%刻度 二、信息披露义务人签署本报告已获得必要的授权和批准，其履行亦不违 反信息披露义务人所任职或持有权益公司的章程或内部规则中的任何条款，或 与之相冲突。 三、依据《中华人民共和国证券法》、《上市公司收购管理办法》的规定， 本报告书已全面披露信息披露义务人所持有的华勤技术股份有限公司股份变动 情况。 截至本报告书签署日，除本报告书披露的信息外，信息披露义务人没有通 过任何其他方式增加或减少其在华勤技术股份有限公司中拥有权益的股份。 四、本次权益变动是根据本报告书所载明的资料进行的，除信息披露义务 人外，没有委托或者授权其它任何人提供未在本报告书列载的信息和对本报告 书做出任何解释或者说明。 五、信息披露义务人承诺本报告书不存在虚假记载、误导性 ...

Group 1 - The core viewpoint of the news is that Huqin Technology has shown significant stock performance and financial growth since its recent IPO, with a notable increase in revenue and net profit year-on-year [1][2][3] - As of September 5, Huqin Technology's stock price increased by 2.08% to 85.52 CNY per share, with a total market capitalization of 868.67 billion CNY [1] - The company has experienced a year-to-date stock price increase of 22.08%, despite a recent decline of 13.05% over the last five trading days [1] Group 2 - Huqin Technology's main business segments include high-performance computing (60.32%), smart terminals (31.93%), AIOT and others (3.95%), and automotive and industrial products (1.24%) [1] - For the first half of 2025, Huqin Technology reported a revenue of 839.39 billion CNY, representing a year-on-year growth of 113.06%, and a net profit of 18.89 billion CNY, up 46.30% year-on-year [2] - The company has distributed a total of 17.81 billion CNY in dividends since its A-share listing [3]

Group 1 - HuaQin Technology's stock price dropped by 5.01% on September 4, closing at 84.73 yuan per share, with a trading volume of 795 million yuan and a turnover rate of 1.60%, resulting in a total market capitalization of 86.065 billion yuan [1] - The stock has experienced a continuous decline for three days, with a cumulative drop of 9.3% during this period [1] - HuaQin Technology, established on August 29, 2005, specializes in the research, design, production, and operation services of smart hardware products, with revenue composition as follows: high-performance computing 60.32%, smart terminals 31.93%, AIOT and others 3.95%, others 2.56%, and automotive and industrial products 1.24% [1] Group 2 - According to data, one fund under China International Capital Corporation (CICC) holds a significant position in HuaQin Technology, specifically the CICC Consumer Upgrade Stock A fund, which held 53,700 shares in the second quarter, accounting for 3.22% of the fund's net value, ranking as the ninth largest holding [2] - The estimated floating loss for the fund today is approximately 240,000 yuan, with a total floating loss of 491,400 yuan during the three-day decline [2] - The CICC Consumer Upgrade Stock A fund was established on June 24, 2015, with a current scale of 135 million yuan, yielding a return of 17.17% year-to-date, ranking 2494 out of 4222 in its category, and a one-year return of 30.76%, ranking 2982 out of 3789 [2]