证券代码：603380 证券简称：易德龙 公告编号：2026-003 苏州易德龙科技股份有限公司 关于持股 5%以上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。 重要内容提示： 大股东持股的基本情况 本次减持计划实施前，苏州易德龙科技股份有限公司（以下简称"公司"） 持股 5%以上股东王明先生持有公司股票 20,507,160 股，占公司总股本 12.78%， 上述股份来源于公司首次公开发行前持有的股份，均为无限售流通股。 减持计划的实施结果情况 公司于 2025 年 11 月 28 日披露了《苏州易德龙科技股份有限公司 5%以上股 东减持股份计划公告》（公告编号：2025-052），王明先生因自身资金需求，计 划自 2025 年 12 月 22 日至 2026 年 3 月 20 日期间以大宗交易方式合计减持公司 股份不超过 3,200,000 股，即不超过公司总股本的 2%。 1 | 持股数量 | 20,507,160股 | | --- | --- | | 持股比例 | 12.78% | | 当 ...

证券代码：603380 证券简称：易德龙 公告编号：2026-002 苏州易德龙科技股份有限公司 关于持股 5%以上股东权益变动触及 1%刻度的提示性公告 股东王明先生保证向本公司提供的信息真实、准确、完整，没有虚假记载、误导 性陈述或重大遗漏。 本公司董事会及全体董事保证公告内容与信息披露义务人提供的信息一致。 重要内容提示： | 权益变动方向 | 比例增加□ | | 比例减少 | | --- | --- | --- | --- | | 权益变动前合计比例 | 12.78% | | | | 权益变动后合计比例 | 11.88% | | | | 本次变动是否违反已作出的承 | 是□ | 否 | | | 诺、意向、计划 | | | | | 是否触发强制要约收购义务 | 是□ | 否 | | 一、 信息披露义务人及其一致行动人的基本信息 1.身份类别 投资者及其一致行动人的身份 □控股股东/实际控制人及其一致行动人 其他 5%以上大股东及其一致行动人 □合并口径第一大股东及其一致行动人（仅适用于 无控股股东、实际控制人） □其他______________ | 投资者名称 | 变动前股数 | 变动前比例 | ...

Core Viewpoint - The announcement indicates that major shareholder Wang Ming reduced his stake in the company through block trading, aligning with a previously disclosed reduction plan [1] Group 1: Shareholder Activity - Wang Ming, holding over 5% of shares, reduced his holdings by 1.45 million shares [1] - His ownership percentage decreased from 12.78% to 11.88%, reaching a 1% threshold [1] - This reduction is part of a previously planned divestment and does not trigger a mandatory tender offer [1] Group 2: Control and Governance - The reduction in shareholding will not result in a change of the company's controlling shareholder or actual controller [1] - The divestment plan remains incomplete, indicating potential for further share sales in the future [1]

Group 1 - The core point of the news is that Yidelong conducted a block trade of 200,000 shares on February 26, with a transaction amount of 7.18 million yuan, accounting for 7.04% of the total transaction volume for that day [1] - The transaction price was 35.9 yuan, which represents a discount of 10.29% compared to the market closing price of 40.02 yuan [1] Group 2 - The block trade occurred on February 26, 2026, for the stock Yidelong, with the stock code 603380 [2] - The transaction involved a total volume of 200,000 shares and a transaction amount of 7.18 million yuan [2]

Group 1 - The core transaction involved 850,000 shares of Yidelong, with a total transaction value of 30.515 million yuan, accounting for 38.09% of the total trading volume on that day [1] - The transaction price was 35.9 yuan, which represents an 8.07% discount compared to the market closing price of 39.05 yuan [1] Group 2 - Multiple brokerage firms participated in the transaction, including Meihua Zhengsai and Northeast Securities, indicating a diverse interest from various market players [2] - The transaction volume and price suggest a significant market activity, reflecting potential investor sentiment towards Yidelong [1][2]

Group 1 - The core point of the article is that Yidelong (603380) has over 17,000 shareholders as of January 9, 2026 [1]

Investment Rating - The report gives a "Buy" rating for the company, Yidelong (603380.SH) [3] Core Views - Yidelong is positioned as a leading flexible EMS company globally, entering a new value cycle driven by R&D. The company has over 20 years of experience in the EMS industry, focusing on high-quality, small-batch, and multi-variety production. Key downstream industries include industrial control, communication equipment, medical devices, automotive electronics, and consumer electronics. The company is expanding its R&D efforts and exploring new products like PCB axial flux motors [8][10]. Financial Forecast and Key Metrics - Revenue projections for Yidelong are as follows: - 2024: 2,161 million CNY, growth rate of 12.7% - 2025: 2,498 million CNY, growth rate of 15.6% - 2026: 3,003 million CNY, growth rate of 20.2% - 2027: 3,546 million CNY, growth rate of 18.1% - Net profit attributable to shareholders is projected to be: - 2024: 184 million CNY, growth rate of 38.2% - 2025: 241 million CNY, growth rate of 30.9% - 2026: 291 million CNY, growth rate of 20.6% - 2027: 350 million CNY, growth rate of 20.3% - Earnings per share (EPS) is expected to be: - 2024: 1.15 CNY - 2025: 1.50 CNY - 2026: 1.81 CNY - 2027: 2.18 CNY - Price-to-earnings (PE) ratios are projected as follows: - 2024: 35x - 2025: 27x - 2026: 22x - 2027: 19x - Price-to-book (PB) ratios are projected as follows: - 2024: 4.3x - 2025: 4.1x - 2026: 3.6x - 2027: 3.1x [2] Company Overview - Yidelong has a stable shareholding structure, with the actual controllers holding 43.59% of the shares. The management team has extensive experience, with key executives having worked in the company for over ten years [20][22]. - The company has established a global production base, including facilities in Mexico, Vietnam, and Romania, allowing for localized supply and reduced costs [51][54]. Industry Insights - The EMS industry is transitioning to a multi-center regional manufacturing model, with significant growth expected in the coming years. The global EMS market is projected to grow from 638.2 billion USD in 2023 to 799 billion USD by 2028, with a CAGR of 4.6% [41][42]. - There are two major trends in the EMS industry: the restructuring of supply chains by international brands seeking partners with R&D capabilities, and the shift from a primarily Asia-Pacific manufacturing model to a more diversified regional approach [42][43].

Investment Rating - The report gives a "Buy" rating for the company [3] Core Views - The company is positioned as a leading flexible EMS provider globally, entering a new value cycle driven by R&D [8] - The EMS industry is transitioning to a "regional manufacturing + demand restructuring" phase, with a focus on localized production and partnerships with R&D capabilities [10] - The company is expanding its R&D efforts and product offerings, particularly in PCB axial motors, which are expected to have significant market potential [10] Summary by Sections 1. Flexible EMS Leader, Entering a New R&D-Driven Value Cycle - The company has over 20 years of experience in the EMS industry, with a global production base established in regions like Mexico, Vietnam, and Romania [16] - The company has a stable shareholding structure, with the founding team having extensive experience [20] - Revenue has shown steady growth, with a significant recovery in profitability expected starting in 2024 [24] 2. Transition from EMS to R&D Manufacturing, Unlocking Growth Potential - The EMS industry is entering a new phase characterized by regional manufacturing and demand restructuring [37] - The company has established multiple overseas production bases to enhance its delivery capabilities and reduce costs [51] 3. Forward-Looking Layout in High-Potential Sectors, R&D of PCB Axial Motors - PCB axial motors are highlighted for their advantages in lightweight and high power density, suitable for applications in robotics and electric vehicles [57] - The global market for axial flux motors is projected to grow significantly, with the company positioned to capitalize on this trend [78] 4. Profit Forecast and Investment Recommendations - The company is expected to achieve revenues of 24.98 billion, 30.03 billion, and 35.46 billion yuan in 2025, 2026, and 2027 respectively, with corresponding net profits of 2.41 billion, 2.91 billion, and 3.50 billion yuan [2]

Group 1 - The first extraordinary general meeting of shareholders for Suzhou Yidelong Technology Co., Ltd. was held on January 12, 2026, at the company's meeting room in Suzhou [2] - The meeting was convened by the board of directors and chaired by Chairman Qian Xindong, utilizing a combination of on-site and online voting methods, in compliance with the Company Law and the Articles of Association [2] - All five current directors and the board secretary attended the meeting, along with some senior executives [3][4] Group 2 - A resolution to amend the Articles of Association was passed during the meeting, requiring more than two-thirds of the voting rights held by attending shareholders for approval [4] - The meeting was witnessed by Beijing Zhonglun (Shanghai) Law Firm, with lawyers Yuan Mingwei and Yang Xueqi confirming the legality and validity of the meeting's proceedings and resolutions [5][6]

北京市中伦(上海)律师事务所 关于苏州易德龙科技股份有限公司 2026 年第一次临时股东会的 法律意见书 二〇二六年一月 北京 • 上海 • 深圳 • 广州 • 武汉 • 成都 • 重庆 • 青岛 • 杭州 • 南京 • 海口 • 东京 • 香港 • 伦敦 • 纽约 • 洛杉矶 • 旧金山 • 阿拉木图 Beijing • Shanghai • Shenzhen • Guangzhou • Wuhan • Chengdu • Chongqing • Qingdao • Hangzhou • Nanjing • Haikou • Tokyo • Hong Kong • London • New York • Los Angeles • San Francisco • Almaty 法律意见书 北京市中伦(上海)律师事务所 关于苏州易德龙科技股份有限公司 2026 年第一次临时股东会的 法律意见书 致：苏州易德龙科技股份有限公司 为出具本法律意见书，本所律师审查了公司提供的本次股东会会议通知、股 东签名册、会议议案等与本次股东会有关的全部文件，并对本次股东会的召开进 行了现场见证。本所律师按照律师行业公认的业务标 ...