重要内容提示： 本次拟结项募集资金投资项目：数字化系统升级与产线智能化改造项目。 证券代码：603583 证券简称：捷昌驱动 公告编号：2025-058 浙江捷昌线性驱动科技股份有限公司 关于部分募投项目结项并注销相关募集资金专项账户的 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。 （一）募集资金的管理情况 为了规范募集资金的管理和使用，提高资金使用效率，保护投资者权益， 本公司按照《中华人民共和国公司法》《中华人民共和国证券法》《上海证券 交易所股票上市规则》及《上海证券交易所上市公司募集资金管理办法》等有 关法律、法规和规范性文件的规定，结合公司实际情况，制定了《浙江捷昌线 性驱动科技股份有限公司募集资金管理办法》（以下简称《管理办法》）。根 据《管理办法》，公司对募集资金实行专户存储制度，以便于募集资金的管理 和使用以及对其使用情况进行监督，保证募集资金专款专用。 （二）募集资金三方监管协议的签订和履行情况 公司与保荐机构北京证券有限责任公司（原"瑞信证券（中国）有限公司， 以下简称"北京证券"）于 2020 年 ...

Core Points - The company has completed the implementation of the "Digital System Upgrade and Production Line Intelligent Transformation Project" funded by a private placement of shares [1] - The total amount of funds raised for the project was 213.4574 million yuan, and the balance in the fundraising account is now 0.00 yuan [1] - The company has canceled the special account for the raised funds, and the corresponding tripartite supervision agreement has been terminated [1]

Core Insights - On November 11, brokerages issued target prices for listed companies a total of 21 times, with notable increases in target prices for Century Huatong, ZTE Corporation, and Zhuhai Smelter Group, showing increases of 50.48%, 47.02%, and 34.74% respectively, across the gaming, communication equipment, and industrial metals sectors [1][2]. Target Price Increases - Century Huatong received a target price of 26.50 yuan, reflecting a target price increase of 50.48% [2]. - ZTE Corporation's target price was set at 60.13 yuan, indicating a 47.02% increase [2]. - Zhuhai Smelter Group's target price reached 20.40 yuan, with a 34.74% increase [2]. - Other companies with significant target price increases include Jinlei Co. (30.79%), Changan Automobile (30.29%), and Sanhua Intelligent Control (29.84%) [2]. Brokerage Recommendations - The top companies recommended by brokerages on November 11 include Zhonglian Heavy Industry, Xinbao Co., and Sany Heavy Industry, each receiving two brokerage ratings [3]. - Zhonglian Heavy Industry had a closing price of 8.44 yuan, while Xinbao Co. closed at 15.30 yuan, and Sany Heavy Industry at 20.91 yuan [3]. Rating Adjustments - Nanjing Steel Group's rating was upgraded from "Hold" to "Buy" by Zhongtai Securities on November 11 [4]. - A total of 14 companies received first-time coverage from brokerages, with Zhejiang Energy Power rated "Hold" and Zhonggu Logistics rated "Hold" as well [5]. Newly Covered Companies - Newly covered companies include Zhejiang Energy Power (rated "Hold"), Zhonggu Logistics (rated "Hold"), and Longxin General (rated "Outperform") [5]. - Other companies receiving first-time ratings include Yifeng Pharmacy (rated "Outperform") and Haier Smart Home (rated "Buy") [5].

Investment Rating - The report assigns an "Accumulate" rating for the company, indicating a potential increase of 5% to 15% relative to the CSI 300 index over the next six months [28]. Core Insights - The company, Jiechang Drive (603583), reported a total revenue of 3.035 billion yuan for the first three quarters of 2025, representing an 18.19% year-on-year growth. The net profit attributable to shareholders reached 380 million yuan, up 29.63% year-on-year, while the net profit excluding non-recurring items was 355 million yuan, reflecting a 36.44% increase [6][11]. - The third quarter of 2025 saw a revenue of 1.028 billion yuan, with a year-on-year growth of 3.70%. The net profit for Q3 was 109 million yuan, marking a 4.79% increase year-on-year. However, the growth rate slowed due to external factors such as increased tariffs on exports to the U.S. and significant exchange rate fluctuations [7][8]. - The company's gross margin for the first three quarters was 30.37%, an increase of 0.9 percentage points year-on-year, while the net profit margin was 12.52%, up 1.2 percentage points year-on-year [8]. Summary by Sections Financial Performance - For the first three quarters of 2025, Jiechang Drive achieved a total revenue of 3.035 billion yuan, with a year-on-year growth of 18.19%. The net profit attributable to shareholders was 380 million yuan, reflecting a 29.63% increase [6]. - The third quarter's revenue was 1.028 billion yuan, with a year-on-year growth of 3.70%, and a net profit of 109 million yuan, up 4.79% year-on-year [7]. Profitability - The gross margin for the first three quarters was 30.37%, an increase of 0.9 percentage points year-on-year. The net profit margin was 12.52%, up 1.2 percentage points year-on-year [8]. - The net cash flow from operating activities for the first three quarters was 457 million yuan, a 23.88% increase year-on-year, indicating healthy cash flow management [8]. Business Growth - The company is focusing on three growth curves: the smart office business, which accounts for over 70% of revenue; the medical care business, which contributes about 15%; and the humanoid robot business, which is expected to open new growth opportunities [9][10]. - The smart office segment has shown significant recovery in overseas markets, contributing substantially to revenue growth [10]. Future Projections - Revenue projections for 2025 to 2027 are 4.394 billion yuan, 5.377 billion yuan, and 6.466 billion yuan, respectively. Corresponding net profits are expected to be 445 million yuan, 578 million yuan, and 727 million yuan, with PE ratios of 32.41X, 24.92X, and 19.83X [11].

Financial Performance - In the first three quarters of 2025, the company achieved revenue of 3.035 billion yuan, a year-on-year increase of 18.19%, with third-quarter revenue of 1.028 billion yuan, up 3.70% year-on-year [1] - The net profit attributable to shareholders for the first three quarters was 380 million yuan, representing a year-on-year growth of 29.63%, while the third-quarter net profit was 109 million yuan, an increase of 4.80% year-on-year [1] - The company's gross margin for the first three quarters was 30.4%, up 0.9 percentage points year-on-year, and the third-quarter gross margin was 30.8%, up 2.5 percentage points year-on-year [1] Development Trends - The company has made significant progress in its global layout, establishing efficient production bases in China, Asia-Pacific, and North America, with the first phase of the European logistics and production base project completed [2] - The expansion of the Malaysian production base is underway, which will optimize the company's capacity allocation in the Asia-Pacific region, enhancing its ability to respond to geopolitical risks and meet overseas customer demands [2] - The company is deepening its focus on smart manufacturing and product innovation, with core components of robotic actuators entering small-batch production and significant advancements in various product testing phases [2] Profit Forecast and Valuation - The company maintains its profit forecast for 2025 and introduces a new net profit estimate of 560 million yuan for 2026 [3] - The current stock price corresponds to a price-to-earnings ratio of 30.6 times for 2025 and 26.3 times for 2026, with a target price adjustment of 90% to 45.0 yuan, indicating a potential upside of 17.7% from the current stock price [3]

Core Viewpoint - The stock of Jiechang Drive has shown significant fluctuations in price and trading volume, reflecting investor interest and market dynamics [1][2]. Company Overview - Jiechang Drive, established on April 30, 2010, and listed on September 21, 2018, is located in the high-tech industrial park of Xinchang County, Shaoxing City, Zhejiang Province. The company specializes in the production and sales of linear drive systems and equipment, medical device components, and functional furniture and components [1][2]. - The main revenue source for Jiechang Drive comes from linear drive products, accounting for 99.66% of total revenue, with other products contributing 0.34% [1]. Financial Performance - For the period from January to September 2025, Jiechang Drive achieved a revenue of 3.035 billion yuan, representing a year-on-year growth of 18.19%. The net profit attributable to the parent company was 380 million yuan, reflecting a year-on-year increase of 29.63% [2]. - Since its A-share listing, Jiechang Drive has distributed a total of 685 million yuan in dividends, with 280 million yuan distributed over the past three years [3]. Shareholder Information - As of September 30, 2025, the number of shareholders for Jiechang Drive reached 50,100, an increase of 19.50% from the previous period. The average number of circulating shares per shareholder decreased by 16.32% to 7,634 shares [2]. - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited is the sixth largest, holding 5.1629 million shares, a decrease of 3.1568 million shares from the previous period [3].

Core Viewpoint - Zhejiang Jiechang Linear Drive Technology Co., Ltd. has announced the results of its 2025 restricted stock incentive plan, which includes the granting of 3.524 million shares to 267 incentive objects, aimed at enhancing employee motivation and aligning their interests with the company's performance [2][5][6]. Summary by Sections Incentive Plan Details - The restricted stock registration date is October 29, 2025, with a total of 3.524 million shares granted [2]. - The decision-making process for the incentive plan was completed through several board meetings and shareholder approvals, with the first meeting held on August 29, 2025 [3][4]. Granting Process - The actual number of shares granted was reduced by 68,000 shares due to four incentive objects voluntarily waiving their shares, resulting in 3.524 million shares being granted to 267 individuals [5][6]. - The granting price for the shares is set at 19.15 yuan per share [6]. Financial Impact - The total funds raised from the incentive plan amount to 67.484 million yuan, which will be used to supplement the company's working capital [7]. - The estimated total expense for the granted shares is 83.3778 million yuan, which will be amortized over the vesting period [8]. Shareholder Structure - Following the granting of the restricted stock, the total number of shares will increase from 382,246,955 to 385,770,955, with the controlling shareholder's ownership percentage slightly decreasing from 27.56% to 27.31% [7].

证券代码：603583 证券简称：捷昌驱动 公告编号：2025-057 浙江捷昌线性驱动科技股份有限公司 2025 年限制性股票激励计划首次授予结果公告 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： 浙江捷昌线性驱动科技股份有限公司（以下简称"公司"、"捷昌驱动"）根据 《上市公司股权激励管理办法》《浙江捷昌线性驱动科技股份有限公司 2025 年 限制性股票激励计划》（以下简称"本激励计划"、"本次激励计划"）的相关规定 和公司 2025 年第一次临时股东会的授权，公司于 2025 年 8 月 29 日召开了第六 届董事会第四次会议，审议通过了《关于向 2025 年限制性股票激励计划激励对 象首次授予限制性股票的议案》，公司已于 2025 年 10 月 29 日在中国证券登记 结算有限责任公司上海分公司办理完成公司本激励计划的首次授予登记工作，现 将有关事项说明如下： 一、限制性股票本次授予情况 （一）已履行的决策程序和信息披露情况 3、2025 年 8 月 27 日，公司 2025 年第一次临时股东会审议通 ...

Investment Rating - The industry is rated as "Positive" for the next 12 months, expecting a growth rate exceeding 10% relative to the CSI 300 index [8][38]. Core Views - The demand for construction machinery is expected to continue growing due to favorable factors such as ongoing hydropower projects and urban renewal initiatives. The global tariff disturbances are gradually diminishing, enhancing the cost-performance advantage of domestic construction machinery [8][38]. - Tesla's announcement regarding the mass production of the Optimus robot indicates a clear production roadmap, with plans to showcase a prototype in Q1 2026 and establish a production line for 1 million units. This development suggests significant future production potential, with estimates reaching up to 100 million units in the long term [8][38]. - The report maintains "Buy" ratings for specific companies: Zoomlion Heavy Industry (000157), Hengli Hydraulic (601100), Jiechang Drive (603583), and Haomai Technology (002595) [8][38]. Industry News - The rental index for aerial work platforms in September was recorded at 686 points, showing a slight month-on-month decrease of 1.9% but a year-on-year increase of 9.4% [16]. - Longsheng Bearing achieved a revenue of 935 million yuan in the first three quarters of 2025, marking an 11.97% year-on-year growth [24]. Industry Data - As of October 24, 2025, the steel composite price index (CSPI) was 91.22, indicating a slight decline [17]. - International crude oil prices have rebounded, with WTI and Brent crude prices at 61.31 USD/barrel and 65.62 USD/barrel, respectively, as of October 28, 2025 [18]. Market Review - From October 22 to October 28, 2025, the CSI 300 index rose by 1.83%, while the Shenwan Machinery Equipment Industry increased by 1.76%, underperforming the CSI 300 by 0.06 percentage points [27][28]. - The price-to-earnings ratio (TTM) for the Shenwan Machinery Equipment Industry was 32.37 times, with a valuation premium of 134.86% relative to the CSI 300 as of October 28, 2025 [28].

Group 1 - The core point of the article is that Jiechang Drive (603583.SH) reported its Q3 2025 results, revealing a decline in institutional ownership compared to the previous quarter [1] - As of October 28, 2025, four institutional investors hold a total of 37.3272 million shares of Jiechang Drive, representing 9.77% of the total share capital, which is a decrease of 5.04 percentage points from the last quarter [1] - The institutional investors include New Chang County Zhongsheng Investment Co., Ltd., Hong Kong Central Clearing Limited, National Social Security Fund 602 Portfolio, and Zhejiang Jiechang Holdings Co., Ltd. [1] Group 2 - In the public fund sector, 141 public funds were not disclosed in this period compared to the previous quarter, including notable funds such as Penghua Carbon Neutrality Theme Mixed A and Southern CSI 1000 ETF [1] - Among social security funds, there was a slight increase in holdings from one fund, the National Social Security Fund 602 Portfolio, indicating a small uptick in its shareholding [1]