上海龙旗科技股份有限公司 2025 年限制性股票激励计划预留授予部分激励对象名单 一、激励对象获授的限制性股票分配情况 本激励计划预留授予的限制性股票在各激励对象间的分配情况如下表所示： | 姓名 | 职务 | 获授的限制性股 | 占预留授予限制性 | 占授予时公司总 | | --- | --- | --- | --- | --- | | | | 票数量（万股） | 股票总数的比例 | 股本的比例 | | 中高层管理人员及核心骨干人员 | | 96.50 | 100.00% | 0.21% | | （不超过 80 | 人） | | | | 二、中高层管理人员及核心骨干人员名单 | 序号 | 姓名 | 序号 | 姓名 | 序号 | 姓名 | | --- | --- | --- | --- | --- | --- | | 1 | 包* | 28 | 黄*拔 | 55 | 王* | | 2 | 卜*颖 | 29 | 黄*峰 | 56 | 王* | | 3 | 蔡*滔 | 30 | 蒋* | 57 | 王*彬 | | 4 | 柴*鹏 | 31 | 寇* | 58 | 王*锋 | | 5 | 常*珍 | 32 | 李* ...

证券代码：603341 证券简称：龙旗科技 上海荣正企业咨询服务（集团）股份有限公司 关于 上海龙旗科技股份有限公司 2025 年限制性股票激励计划 预留授予相关事项 之 独立财务顾问报告 2025 年 11 月 | 一、释义 | 2 | | --- | --- | | 二、声明 | 3 | | 三、基本假设 | 4 | | 四、本激励计划的批准和授权 | 5 | | 五、独立财务顾问意见 | 6 | | 六、备查文件及咨询方式 | 9 | 一、释义 本独立财务顾问报告中，除非文义载明，下列简称具有如下含义： | 龙旗科技、本公司、公司 | 指 | 上海龙旗科技股份有限公司（含分公司及控股子公司） | | --- | --- | --- | | 本激励计划、本次股权激励 计划 | 指 | 上海龙旗科技股份有限公司 2025 年限制性股票激励计划 | | 限制性股票 | 指 | 公司根据本激励计划规定的条件和价格，授予激励对象一定数量 的公司股票，该等股票设置一定期限的限售期，在达到本激励计 | | | | 划规定的解除限售条件后，方可解除限售流通 | | 激励对象 | 指 | 按照本激励计划规定，获得限制性股 ...

德恒上海律师事务所 关于上海龙旗科技股份有限公司 2025 年限制性股票激励计划 预留部分授予事项的 法律意见书 德恒上海律师事务所 关于上海龙旗科技股份有限公司 2025 年限制性股票激励计划预留部分授予事项的法律意见书 德恒上海律师事务所 上海市东大名路 501 号上海白玉兰广场办公楼 23 楼 电话：021-55989888 传真：021-55989898 邮编：200080 德恒上海律师事务所 关于上海龙旗科技股份有限公司 2025 年限制性股票激励计划预留部分授予事项的法律意见书 释义 在本《法律意见书》中，除非文义另有所指，下列词语具有下述涵义： | 龙旗科技/公司 | 指 | 上海龙旗科技股份有限公司 | | --- | --- | --- | | 本激励计划/本次激 | 指 | 上海龙旗科技股份有限公司 2025 年限制性股票激励计 | | 励计划 | 划 | | | 本《法律意见书》 | 指 司 | 《德恒上海律师事务所关于上海龙旗科技股份有限公 年限制性股票激励计划预留部分授予事项的法 2025 | | | | 律意见书》 | | 《激励计划》 | 指 | 《上海龙旗科技股份有限公司 年限 ...

上海龙旗科技股份有限公司 第四届董事会第十一次会议决议公告 证券代码：603341 证券简称：龙旗科技 公告编号：2025-104 经审议，董事会认为：公司 2025 年限制性股票激励计划规定的授予条件已 经成就，同意以 2025 年 11 月 20 日为预留授予日，向 80 名激励对象授予 96.5 万股限制性股票，授予价格为 19.34 元/股。 表决结果：同意 7 票，占全体董事人数的 100%；反对 0 票；弃权 0 票。 本议案已经公司第四届董事会薪酬与考核委员会第五次会议审议通过。 具体内容详见公司同日于上海证券交易所网站（http://www.sse.com.cn）披 露的《关于向公司 2025 年限制性股票激励计划激励对象授予预留部分限制性股 票的公告》（公告编号：2025-105）。 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。 一、董事会会议召开情况 上海龙旗科技股份有限公司（以下简称"公司"）第四届董事会第十一次会 议于2025年11月20日以现场加通讯表决方式召开。本次会议通知已于2025年11 月1 ...

Core Insights - In 2025, advancements in hardware lightweight design and basic AI functionalities will enhance the user experience and drive product innovation in smart glasses [1] - The Chinese smart glasses market is expected to reach a critical turning point in 2026, with significant changes in product forms, interaction methods, and service models [1] - Global smart glasses shipments are projected to exceed 23.687 million units in 2026, with China's shipments surpassing 4.915 million units, marking the beginning of a new phase of scaled growth [1] Industry Analysis - Jianghai Securities anticipates rapid promotion and popularization of smart glasses as a key carrier for AI, recommending attention to companies in the supply chain such as Xiaomi Group-W, Hengxuan Technology, Allwinner Technology, GoerTek, and Crystal Optoelectronics [1] - Founder Securities suggests that with major industry players accelerating their strategies and supply chain efficiency improvements, AI+AR glasses are likely to develop quickly, recommending focus on ODM and acoustic segment representatives like GoerTek, as well as other companies in the ODM and optical segments [1]

长城久嘉创新成长混合A（004666）成立日期2017年7月5日，最新规模19.74亿。今年以来收益 28.14%，同类排名2831/8136；近一年收益27.9%，同类排名2635/8055；成立以来收益108.04%。 长城久嘉创新成长混合A（004666）基金经理为尤国梁。 截至发稿，尤国梁累计任职时间6年30天，现任基金资产总规模42.62亿元，任职期间最佳基金回报 134.3%， 任职期间最差基金回报-15.93%。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 11月20日，龙旗科技跌0.82%，截至发稿，报39.82元/股，成交1.65亿元，换手率1.54%，总市值186.91 亿元。龙旗科技股价已经连续5天下跌，区间累计跌幅6.39%。 资料显示，上海龙旗科技股份有限公司位于上海市徐汇区漕宝路401号1号楼一层,香港湾仔皇后大道东 183号合和中心46楼，成立日期2004年10月27日，上市日期2024年3月1日，公司主营业务涉及智能产品 研发设计、生产 ...

Summary of Key Points Core Viewpoint - Longqi Technology's stock experienced a decline of 1.53% on November 11, with a trading volume of 256 million yuan, indicating a potential shift in investor sentiment and market dynamics [1] Financing and Margin Trading - On November 11, Longqi Technology had a financing buy-in amount of 33.78 million yuan and a financing repayment of 43.90 million yuan, resulting in a net financing outflow of 10.12 million yuan [1] - The total margin trading balance for Longqi Technology as of November 11 was 585 million yuan, with the financing balance accounting for 5.05% of the circulating market value, indicating a high level of financing activity compared to the past year [1] - The company had a margin balance of 5.11 million yuan with a short selling volume of 300 shares and a repayment of 1,200 shares on the same day, reflecting a high level of short selling activity [1] Business Performance - As of September 30, Longqi Technology had 27,000 shareholders, an increase of 15.64% from the previous period, while the average number of circulating shares per shareholder decreased by 13.52% to 9,848 shares [2] - For the period from January to September 2025, Longqi Technology reported a revenue of 31.33 billion yuan, a year-on-year decrease of 10.28%, while the net profit attributable to shareholders increased by 17.74% to 507 million yuan [2] Dividend Distribution - Longqi Technology has distributed a total of 461 million yuan in dividends since its A-share listing [3]

11月11日，龙旗科技盘中下跌2.01%，截至13:58，报42.94元/股，成交1.96亿元，换手率1.70%，总市值 201.55亿元。 资金流向方面，主力资金净流出270.12万元，特大单买入554.26万元，占比2.82%，卖出396.00万元，占 比2.02%；大单买入2622.19万元，占比13.36%，卖出3050.57万元，占比15.55%。 分红方面，龙旗科技A股上市后累计派现4.61亿元。 责任编辑：小浪快报 截至9月30日，龙旗科技股东户数2.70万，较上期增加15.64%；人均流通股9848股，较上期减少 13.52%。2025年1月-9月，龙旗科技实现营业收入313.32亿元，同比减少10.28%；归母净利润5.07亿元， 同比增长17.74%。 资料显示，上海龙旗科技股份有限公司位于上海市徐汇区漕宝路401号1号楼一层,香港湾仔皇后大道东 183号合和中心46楼，成立日期2004年10月27日，上市日期2024年3月1日，公司主营业务涉及智能产品 研发设计、生产制造、综合服务。主营业务收入构成为：智能手机70.44%，AIoT产品16.68%，平板电 脑9.55%，其他(补充)3. ...

Core Viewpoint - The optimism surrounding AIPC (Artificial Intelligence Personal Computer) from manufacturers may not be reliable, as the AI experience that consumers can directly perceive is still immature [6][23]. Group 1: AIPC Market Dynamics - Lenovo's AIPC sales are on the rise, indicating a growing trend in the market [3]. - Intel reported a revenue of $13.65 billion in Q3 2025, marking a 2.8% year-on-year increase, attributed to AIPC demand [4]. - By the end of 2025, Intel expects to supply processors for over 100 million AIPC units [4]. Group 2: Hardware and Software Ecosystem - AIPC integrates a Neural Processing Unit (NPU) alongside traditional CPU and GPU, enhancing AI task execution [2][7]. - The AIPC market is driven by various chip manufacturers, including Intel, AMD, and Qualcomm, each offering unique architectures and capabilities [9][10]. - Microsoft leads the operating system market with its "Copilot+PC" standard for AIPC, requiring a minimum NPU performance of 40 TOPS and 16GB of RAM [11]. Group 3: Consumer Experience and Challenges - Despite high expectations, AIPC's software ecosystem is fragmented, and many productivity applications do not effectively utilize the NPU [5][20]. - Users report dissatisfaction with AI functionalities, citing issues with accuracy and usability [19][20]. - The physical limitations of local devices pose challenges for running high-parameter AI models, impacting user experience [22]. Group 4: Future Outlook - The rapid growth of AIPC is closely tied to the end of support for Windows 10, pushing businesses to upgrade [18]. - The true potential of AIPC may not be realized until the developer ecosystem matures and AI applications become more robust [23][24]. - AIPC penetration is projected to exceed 50% by 2028, indicating a long-term growth trajectory [24].

Core Insights - The article discusses the rise of AIPC (Artificial Intelligence Personal Computer) as a new category in the tech industry, highlighting Lenovo's launch of the "Lenovo Savior AI Edition" laptops equipped with AI capabilities through the integration of NPU (Neural Processing Unit) alongside traditional CPU and GPU [2][3] - The demand for AIPC has surged since the introduction of ChatGPT, prompting major tech companies to accelerate their AIPC strategies and product offerings [3][4] - Despite the growing market interest, challenges remain regarding the software ecosystem and practical applications of AIPC, with many users reporting underwhelming AI experiences [5][6] Industry Trends - AIPC sales have been increasing, with Lenovo's AIPC series seeing a production priority shift due to rising demand [3] - Intel reported a revenue increase of 2.8% in Q3 2025, attributed to AIPC, and anticipates supplying processors for over 100 million AIPC units by the end of 2025 [3][8] - Other companies, such as iFlytek, are also entering the AIPC market, aiming to create a comprehensive ecosystem with domestic CPUs and operating systems [4][10] Market Dynamics - The AIPC market is characterized by a fragmented software ecosystem and insufficient practical applications, leading to consumer dissatisfaction despite hardware advancements [5][6] - The hardware foundation of AIPC relies on a heterogeneous computing architecture (CPU+GPU+NPU), with various chip manufacturers, including Intel, AMD, and Qualcomm, competing in this space [6][8] - The operating system landscape is dominated by Microsoft, which has set standards for AIPC, while domestic players like iFlytek are adapting their systems to local needs [9][10] Supply Chain and Manufacturing - ODM manufacturers like Huaqin Technology are experiencing significant growth in AIPC-related revenues, with expectations of over 30% revenue growth in 2025 [11] - The demand for AIPC is driving up the prices of components, such as heat dissipation structures, which are expected to increase by around 30% due to higher cooling requirements [12] - The transition to AIPC is creating a complete supply chain that includes high-value products and improved profit margins for manufacturers [14] Consumer Experience and Challenges - Despite the hardware advancements, many consumers report that the AI functionalities of AIPC are not meeting expectations, often describing them as inadequate or frustrating [16][18] - The current AIPC offerings are seen as traditional computers with AI features rather than fully realized AI systems, indicating a gap between consumer expectations and actual performance [18][19] - Industry experts suggest that the true potential of AIPC will not be realized until the software ecosystem matures and AI applications become more robust and user-friendly [19]