Core Viewpoint - The performance of low-altitude economy companies in the first half of 2025 shows mixed results, with 12 companies reporting profits and 12 companies experiencing losses [3][5]. Group 1: Performance Overview - As of July 14, 2025, 24 companies in the low-altitude economy index disclosed their performance forecasts, revealing a split between profitable and loss-making entities [3]. - Among the 24 companies, 12 reported profits while the other 12 faced losses [3]. - Four companies are expected to see profit increases of over 50%: Zongshen Power (001696.SZ), Longxin General (603766.SH), Huijia Times (603101.SH), and Changyuan Donggu (603950.SH) [6]. Group 2: Profit and Loss Analysis - Companies such as Aerospace Development (000547.SZ) and Aerospace Rainbow (002389.SZ) reported losses, with the latter citing delays in delivery due to user demand plans [8]. - Aerospace Power (600893.SH) and Aerospace Electric (002025.SZ) achieved profitability but saw a decline in net profit compared to the previous year [6]. - North Navigation (600435.SH) turned a profit, expecting a net profit of 105 million to 120 million yuan in the first half of 2025 [7]. Group 3: Industry Challenges - Many companies in the low-altitude economy sector, particularly those in the aviation industry and low-altitude mainframe manufacturers, reported losses [5][8]. - The losses were attributed to various factors, including market environment impacts, product transformation challenges, and increased operational costs [9]. - Despite ongoing losses, some companies like Chuan University Zhisheng (002253.SZ) are actively pursuing low-altitude economy projects, indicating a commitment to future growth [9].

[Current Period Performance Forecast](index=1&type=section&id=I.%20Current%20Period%20Performance%20Forecast) The company forecasts a net loss for the first half of 2025, but the loss is significantly narrowed compared to the same period last year 2025 Semi-Annual Performance Forecast | Metric | Estimated Amount (CNY) | | :--- | :--- | | Net Profit Attributable to Parent Company Shareholders | Approximately -20.00 million | | Net Profit Attributable to Parent Company Shareholders After Non-Recurring Items | Approximately -26.00 million | [Operating Performance and Financial Status in the Same Period Last Year](index=1&type=section&id=II.%20Operating%20Performance%20and%20Financial%20Status%20in%20the%20Same%20Period%20Last%20Year) The report provides 2024 comparative financial data, indicating a more severe loss in the prior year 2024 Semi-Annual Performance Review | Metric (2024 Semi-Annual) | Amount (CNY) | | :--- | :--- | | Net Profit Attributable to Parent Company Shareholders | -85.0341 million | | Net Profit Attributable to Parent Company Shareholders After Non-Recurring Items | -92.2442 million | | Earnings Per Share | -0.4190 | [Main Reasons for the Current Period's Estimated Loss](index=2&type=section&id=III.%20Main%20Reasons%20for%20the%20Current%20Period%27s%20Estimated%20Loss) The company's loss significantly narrowed due to a substantial year-over-year increase in overall revenue and gross profit, with total expenses decreasing due to management optimization despite continued strategic investments in embodied AI and multi-industry robot applications - The significant year-over-year increase in the company's overall revenue and gross profit in the first half of 2025 is the primary reason for the narrowed loss[6](index=6&type=chunk) - The company continues to advance its "robot + industry" strategy, focusing on embodied AI technology and maintaining resource investment in sectors such as power grids, commercial cleaning, new energy charging, and rail transit[6](index=6&type=chunk) - Although total expenses decreased year-over-year due to management optimization, strategic investments kept expenses at a relatively high level, resulting in a net loss for the first half of the year[6](index=6&type=chunk) [Risk Warning and Other Disclosures](index=2&type=section&id=IV.%20Risk%20Warning) The company emphasizes that this performance forecast is a preliminary, unaudited estimate subject to uncertainty, and investors should refer to the official 2025 semi-annual report for final accurate financial data and be aware of investment risks - This performance forecast is a preliminary calculation by the company's finance department based on its professional judgment and has not been audited by a certified public accountant[7](index=7&type=chunk) - The final accurate financial data will be subject to the company's officially disclosed 2025 semi-annual report, and investors are advised to pay attention to investment risks[8](index=8&type=chunk)

亿嘉和（603666）公告，预计2025年半年度实现归属于母公司所有者的净利润为-2000万元左右，归属 于母公司所有者的扣除非经常性损益后的净利润为-2600万元左右。 ...

Investment Rating - Industry investment rating is "Overweight" [1] Core Viewpoints - The report highlights a new round of market momentum driven by advancements in robotics, particularly in humanoid robots, with a projected global demand of approximately 2 million units by 2030 [4][19] - Key recommended stocks include Xinjie Electric, Beite Technology, Hanwei Technology, Zhaowei Electromechanical, Hengli Hydraulic, and Nuwei Co., among others [2][4] - The report emphasizes the importance of tracking the humanoid robot sector, which is entering a critical growth phase [3][4] Summary by Sections Humanoid Robots - The humanoid robot industry is expected to see significant growth, with major projects and partnerships emerging, such as the procurement project by China Mobile for humanoid biped robots worth 124 million [9][19] - Companies like Tesla and Figure are ramping up production, with Figure planning to increase its humanoid robot output by three times in the upcoming months [10][19] Photovoltaic Equipment - The report notes an accelerated penetration of N-type technology, enhancing the competitive edge of leading companies in the sector [20] - It suggests focusing on companies that are innovating in cost-reduction technologies and expanding production capacity [20] Energy Storage - The energy storage sector is poised for growth due to favorable policies and increasing demand from both generation and user sides [20] - Key players in this space include companies involved in lithium battery systems and integrated storage solutions [20] Semiconductor Equipment - The semiconductor equipment market is projected to reach 140 billion by 2030, with a growing share from domestic manufacturers [4][20] Automation - The automation market is expected to grow significantly, with a market size of approximately 40 billion, projected to reach 55.7 billion by 2026 [4][20] Hydrogen Energy - The report highlights the potential of green hydrogen in achieving carbon neutrality, with a focus on companies that have integrated hydrogen production capabilities [21] Engineering Machinery - The report suggests monitoring leading companies in the engineering machinery sector, emphasizing those with product, scale, and cost advantages [4][20]

Group 1 - The company held its fourth supervisory board meeting on July 11, 2025, with all three supervisors present, and the meeting was deemed legally valid [1] - The supervisory board approved the proposal to abolish the supervisory board, transferring its powers to the audit committee of the board of directors, pending approval from the shareholders' meeting [1][2] - The board will continue to fulfill its responsibilities until the shareholders' meeting votes on the proposal to cancel the supervisory board [1] Group 2 - The supervisory board approved the use of idle self-owned funds for cash management, allowing investments up to 500 million RMB in low-risk, high-liquidity financial products for a period of twelve months starting from August 25, 2025 [2][3] - The decision aims to enhance the efficiency of fund utilization and increase investment returns without harming the interests of the company and all shareholders, especially minority shareholders [2]

Meeting Information - The second extraordinary general meeting of shareholders for 2025 is scheduled for July 28, 2025, at 14:00 [1] - The meeting will be held at Yijiahe Company, No. 5 Chuangsi Road, Yuhua District, Nanjing [1] - Voting will be conducted through a combination of on-site and online methods using the Shanghai Stock Exchange's voting system [1] Voting Procedures - Shareholders can vote via the Shanghai Stock Exchange's online voting system, with voting available from 9:15 to 15:00 on the day of the meeting [2][3] - Shareholders holding multiple accounts can aggregate their voting rights across all accounts for the same class of shares [3][5] - Duplicate voting through different methods will be counted based on the first vote cast [5] Agenda Items - The meeting will review a non-cumulative voting proposal titled "Management System for Preventing Fund Occupation by Controlling Shareholders, Actual Controllers, and Other Related Parties," which has already been approved by the board [2] - There are no related shareholders that need to abstain from voting on this proposal [2] Attendance Requirements - Shareholders registered by the close of trading on July 22, 2025, are eligible to attend the meeting [4] - Attendance can be in person or by proxy, with specific documentation required for both corporate and individual shareholders [4][6] Contact Information - For inquiries, shareholders can contact Yang Yun at 025-58520952 or via email at info@yijiahe.com [6]

Core Viewpoint - The company plans to cancel repurchased shares, reduce registered capital, and amend its articles of association to enhance governance and compliance with relevant laws and regulations [1][4]. Group 1: Share Repurchase and Capital Reduction - The company will cancel 960,396 shares repurchased, which represents 0.4619% of the total share capital, and reduce its registered capital from RMB 20,649.0816 million to RMB 20,553.0420 million [2][3]. - The repurchase was conducted between May 17, 2022, and August 16, 2022, with a total expenditure of RMB 50,444,752.84, at prices ranging from RMB 47.463 to RMB 57.990 per share [2][3]. - The cancellation of shares will not affect the controlling shareholder or the company's financial performance significantly [3]. Group 2: Amendments to Articles of Association - The company will revise its articles of association to improve operational standards and governance, including the cancellation of the supervisory board and transferring its powers to the audit committee of the board [4]. - Other amendments include the establishment of employee director positions and changing the term "shareholders' meeting" to "shareholders' assembly" [4]. - The full revision of the articles of association will be submitted for approval at the shareholders' meeting [5].

亿嘉和科技股份有限公司 募集资金管理办法 第一章 总 则 第一条 为了进一步规范亿嘉和科技股份有限公司（以下简称"公司"）募集 资金的管理，提高募集资金使用效率，促进企业健康发展，维护全体股东的合法 利益，依据《中华人民共和国公司法》《中华人民共和国证券法》《上市公司募集 资金监管规则》《上海证券交易所股票上市规则》《上海证券交易所上市公司自律 监管指引第 1 号——规范运作》等法律法规、规范性文件，以及《亿嘉和科技股 份有限公司章程》（以下简称"公司章程"）及其他有关规定，特制定本办法。 第二条 本办法所称募集资金是指公司通过发行股票或者其他具有股权性 质的证券，向投资者募集并用于特定用途的资金，但不包括公司实施股权激励计 划募集的资金。 超募资金是指实际募集资金净额超过计划募集资金金额的部分。 募集资金投资境外项目的，除符合第一款、第二款规定外，公司及保荐机构 还应当采取有效措施，确保投资于境外项目的募集资金的安全性和使用规范性， 并在《公司募集资金存放、管理与实际使用情况的专项报告》中披露相关具体措 施和实际效果。 第三条 公司董事和高级管理人员应当勤勉尽责，督促公司规范使用募集资 金，确保公司募集资金 ...

亿嘉和科技股份有限公司 股东会议事规则 第一章 总则 第一条 为规范亿嘉和科技股份有限公司（下称"公司"）股东会的组织和 行为，提高股东会议事效率，保障股东的合法权益，确保股东会能够依法行使职 权和依法决议，根据《中华人民共和国公司法》（以下简称"《公司法》"）、《中华 人民共和国证券法》（以下简称"《证券法》"）、《上市公司股东会规则》、《上海证 券交易所股票上市规则》等相关法律法规、规范性文件以及《亿嘉和科技股份有 限公司章程》（以下简称"《公司章程》"）的规定，特制定本规则。 第二条 公司应当严格按照法律、行政法规、《公司章程》及本规则的相关规 定召开股东会，保证股东能够依法行使权利。 公司董事会应当切实履行职责，认真、按时组织股东会。公司全体董事应当 勤勉尽责，确保股东会正常召开和依法行使职权。 第三条 股东会应当在《公司法》和《公司章程》规定的范围内行使职权。 第四条 股东会分为年度股东会和临时股东会。年度股东会每年召开一次， 应当于上一会计年度结束后的 6 个月内举行。临时股东会不定期召开，出现《公 司法》及《公司章程》规定的应当召开临时股东会的情形时，临时股东会应当在 2 个月内召开。 第五条 ...

亿嘉和科技股份有限公司 独立董事制度 第一章 总则 第一条 为进一步完善亿嘉和科技股份有限公司（以下简称"公司"或"上 市公司"）治理结构，促进公司规范运作，根据《中华人民共和国公司法》《中 华人民共和国证券法》《上市公司治理准则》《上市公司独立董事管理办法》《上 海证券交易所股票上市规则》《上海证券交易所上市公司自律监管指引第 1 号— —规范运作》等有关法律、法规和规范性文件，以及《亿嘉和科技股份有限公司 章程》（以下简称"《公司章程》"）的有关规定，制定本制度。 第二条 独立董事是指不在公司担任除董事外的其他职务，并与公司及公司 主要股东、实际控制人不存在直接或者间接利害关系，或者其他可能影响其进行 独立客观判断关系的董事。 独立董事应当独立履行职责，不受公司及公司主要股东、实际控制人等单位 或者个人的影响。 第三条 独立董事对公司及全体股东负有忠实与勤勉义务，应当按照法律、 行政法规、中国证券监督管理委员会（以下简称"中国证监会"）规定、上海证 券交易所业务规则和《公司章程》的规定，认真履行职责，在董事会中发挥参与 决策、监督制衡、专业咨询作用，维护公司整体利益，保护中小股东合法权益。 公司股东间或者 ...