Core Viewpoint - Luokai Co., Ltd. has experienced a stock price increase of 57.09% year-to-date, but has seen a recent decline of 5.83% over the past five trading days, indicating volatility in its stock performance [2]. Company Overview - Luokai Co., Ltd. is located in Changzhou, Jiangsu Province, and was established on September 30, 2010, with its stock listed on October 17, 2017. The company specializes in the research, production, and sales of key components for high and low voltage circuit breakers, smart ring network cabinets, and their critical accessories [2]. - The company's revenue composition includes: 21.64% from circuit breaker operating mechanisms, 19.94% from complete cabinet accessories, 18.88% from complete cabinet products, 15.77% from frames, 12.29% from other products, 9.44% from circuit breakers, and 2.04% from supplementary products [2]. Financial Performance - For the first half of 2025, Luokai Co., Ltd. achieved a revenue of 1.091 billion yuan, representing a year-on-year growth of 5.82%. However, the net profit attributable to shareholders decreased by 3.41% to 57.1465 million yuan [2]. - The company has distributed a total of 134 million yuan in dividends since its A-share listing, with 52.01 million yuan distributed over the past three years [3]. Shareholder Information - As of June 30, 2025, the number of shareholders for Luokai Co., Ltd. was 12,600, an increase of 20.94% from the previous period. The average number of circulating shares per shareholder decreased by 17.31% to 12,739 shares [2]. - Among the top ten circulating shareholders, the "Zhaoshang Quantitative Selected Stock Initiation A" (001917) is the seventh largest shareholder, holding 683,800 shares as a new investor [3].

| 证券代码：603829 | 证券简称：洛凯股份 | 公告编号：2025-054 | | --- | --- | --- | | 债券代码：113689 | 债券简称：洛凯转债 | | 一、可转债发行上市概况 （一）债券简称：洛凯转债 （二）债券代码：113689 （三）发行日期：2024年10月17日 江苏洛凯机电股份有限公司 关于提前赎回"洛凯转债"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个别及连带责任。 重要内容提示： 江苏洛凯机电股份有限公司（以下简称"公司"或"洛凯股份"）股票价 格自 2025 年 9 月 12 日起至 2025 年 10 月 10 日已有 15 个交易日的收盘价不低于 "洛凯转债"当期转股价格（即 15.33 元/股）的 130%（即 19.929 元/股）。根据 《江苏洛凯机电股份有限公司向不特定对象发行可转换公司债券募集说明书》 （以下简称"《募集说明书》"）的相关规定，已触发"洛凯转债"的有条件赎回 条款。 公司于 2025 年 10 月 10 日召开第四届董事会第五次会议，审议通过了 ...

中泰证券股份有限公司 关于江苏洛凯机电股份有限公司 提前赎回"洛凯转债"的核查意见 （一）债券简称：洛凯转债 （二）债券代码：113689 （三）发行日期：2024年10月17日 （四）上市日期：2024年11月11日 （五）发行数量：403.431万张 （六）票面金额：100元/张 （七）发行总额：40,343.10万元 （八）票面利率：第一年0.20%、第二年0.40%、第三年0.80%、第四年 1.50%、第五年2.00%、第六年2.50%。 中泰证券股份有限公司（以下简称"中泰证券"或"保荐机构"）作为 江苏洛凯机电股份有限公司（以下简称"洛凯股份"或"公司"）向不特定 对象发行可转换公司债券的保荐机构，根据《证券发行上市保荐业务管理办 法》《上海证券交易所股票上市规则》等有关规定，对公司提前赎回"洛凯 转债"的事项进行了核查，具体情况如下： 一、可转债发行上市概况 （九）债券期限：6年，自2024年10月17日至2030年10月16日。 （十）可转债开始转股的日期：2025年4月23日 （十一）初始转股价格：15.45元/股 （十二）最新转股价格：因公司2024年度权益分派方案实施调整转股价格， 目 ...

| 证券代码：603829 | 证券简称：洛凯股份 | 公告编号：2025-053 | | --- | --- | --- | | 债券代码：113689 | 债券简称：洛凯转债 | | 江苏洛凯机电股份有限公司 第四届董事会第五次会议决议公告 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个别及连带责任。 一、董事会会议召开情况 江苏洛凯机电股份有限公司（以下简称"公司"）第四届董事会第五次会议 于 2025 年 10 月 10 日在公司会议室以现场和通讯相结合的方式召开，会议通知 及相关资料于 2025 年 10 月 10 日通过电话、微信等方式发出。本次董事会应参 加会议董事 9 人，实际参加会议董事 9 人。会议由董事长谈行先生主持，公司部 分监事和高级管理人员列席会议。会议的召集和召开程序符合《中华人民共和国 公司法》等法律法规、行政部门规章、规范性文件和《江苏洛凯机电股份有限公 司章程》的有关规定。 1、审议并通过了《关于董事会会议豁免提前通知的议案》； 全体董事一致同意豁免本次会议提前 2 日通知的时限要求，同意于 202 ...

（记者 王晓波） 截至发稿，洛凯股份市值为36亿元。 每经头条（nbdtoutiao）——天水麻辣烫、淄博烧烤、荣昌卤鹅⋯⋯"泼天流量"退去后，这些城市怎么 样了？ 每经AI快讯，洛凯股份（SH 603829，收盘价：22.62元）10月10日晚间发布公告称，公司第四届第五次 董事会会议于2025年10月10日在公司会议室以现场和通讯相结合的方式召开。会议审议了《关于董事会 会议豁免提前通知的议案》等文件。 2024年1至12月份，洛凯股份的营业收入构成为：配电及控制设备制造业占比100.0%。 ...

Core Points - The company, Jiangsu Luokai Electromechanical Co., Ltd., has issued convertible bonds known as "Luokai Convertible Bonds" which began conversion on April 23, 2025, with a total amount of 403.431 million bonds issued [3][4][9]. Summary by Sections Convertible Bond Issuance Overview - The company received approval from the China Securities Regulatory Commission to issue convertible bonds, raising a total of 403.431 million yuan with a face value of 100 yuan per bond, and a term of 6 years [3][9][11]. - The coupon rates are structured to increase over the years, starting at 0.20% in the first year and reaching 2.50% in the sixth year [10][12]. Conversion Status - As of September 30, 2025, the total amount converted from the Luokai Convertible Bonds is 810,000 yuan, resulting in 52,741 shares, which is 0.0330% of the company's total shares before conversion [2][5]. - The amount of unconverted bonds as of the same date is 402,621,000 yuan, accounting for 99.7992% of the total issuance [2][5]. Recent Conversion Activity - From July 1, 2025, to September 30, 2025, the conversion amount was 682,000 yuan, leading to the issuance of 44,472 shares [2][5]. Interest Payment Announcement - The first interest payment for the Luokai Convertible Bonds will occur on October 17, 2025, covering the period from October 17, 2024, to October 16, 2025 [7][17]. - The interest payment amount is set at 0.20 yuan per bond, which is subject to a 20% personal income tax, resulting in a net payment of 0.16 yuan per bond [21][22]. Important Dates - The bondholders' registration date for interest payment is October 16, 2025, with the interest payment and ex-dividend date both on October 17, 2025 [8][19].

| 证券代码：603829 | 证券简称：洛凯股份 | 公告编号：2025-051 | | --- | --- | --- | | 债券代码：113689 | 债券简称：洛凯转债 | | 江苏洛凯机电股份有限公司 可转债转股结果暨股份变动公告 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个别及连带责任。 重要内容提示： 累计转股情况：江苏洛凯机电股份有限公司（以下简称"公司"）向不特 定对象发行的可转换公司债券（以下简称"洛凯转债"或"可转债"）自 2025 年 4 月 23 日起可转换为本公司股份，截至 2025 年 9 月 30 日，"洛凯转债"累计 转股金额 810,000 元，累计因转股形成的股份数量为 52,741 股，占可转债转股前 公司已发行股份总额的 0.0330%。 未转股可转债情况：截至 2025 年 9 月 30 日，尚未转股的"洛凯转债" 金额为 402,621,000 元，占"洛凯转债"发行总量的 99.7992%。 本季度转股情况：2025 年 7 月 1 日至 2025 年 9 月 30 日期间，"洛凯转 ...

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个别及连带责任。 重要内容提示： | 证券代码：603829 | 证券简称：洛凯股份 | 公告编号：2025-052 | | --- | --- | --- | | 债券代码：113689 | 债券简称：洛凯转债 | | 江苏洛凯机电股份有限公司 关于"洛凯转债"付息公告 江苏洛凯机电股份有限公司（以下简称"公司"或"本公司"）于2024年10 月17日发行的可转换公司债券（以下简称"洛凯转债"）将于2025年10月17日开 始支付自2024年10月17日至2025年10月16日期间的利息。根据《江苏洛凯机电股 份有限公司向不特定对象发行可转换公司债券募集说明书》（以下简称"《募集 说明书》"）有关条款的规定，现将有关事项公告如下： 一、可转债发行上市概况 （一）债券简称：洛凯转债 可转债付息债权登记日：2025 年 10 月 16 日 可转债除息日：2025 年 10 月 17 日 可转债兑息日：2025 年 10 月 17 日 （二）债券代码：113689 （三）发行日期：2024年10 ...

Core Insights - The article discusses the departure of Shao Jiaxu from Luokai Co., Ltd. and highlights the significant financial impact of the company's investment in Quanzhou Qixing Electric Co., Ltd. since 2017, which is expected to generate over RMB 600 million in revenue for 2022 [2][8]. Investment and Financial Performance - Luokai Co. has sold Quanzhou Qixing at a price-to-earnings (PE) ratio of over 5 times, indicating a lucrative exit from the investment [2][20]. - Quanzhou Qixing has contributed over RMB 1.8 billion in revenue to Luokai Co. since its establishment, showcasing its importance as a subsidiary [8][12]. - The financial performance of Quanzhou Qixing has been strong, with revenues increasing from approximately RMB 1.38 billion in 2020 to an estimated RMB 4.71 billion in 2024 [12][14]. Client Relationships and Sales Dynamics - After the investment, Qixing Electric, previously a competitor, became Luokai Co.'s largest customer, generating sales of approximately RMB 2.1 billion in 2024 [7][12]. - Luokai Co. has reported cumulative sales to Qixing Electric exceeding RMB 900 million from 2020 to 2024, indicating a strong interdependence between the two companies [7][12]. Operational Changes and Future Outlook - The restructuring involved Luokai Co. acquiring a controlling stake in Quanzhou Qixing, which was previously wholly owned by Qixing Electric, leading to a "binding" relationship between the two entities [4][6]. - Despite the initial plan for Qixing Electric to exit the same business area, it has continued to supply Luokai Co., resulting in significant sales figures [21][22]. - Luokai Co. plans to divest its stake in Quanzhou Qixing for approximately RMB 100 million, valuing the company at about RMB 197 million, which reflects a PE ratio of around 5.4 times based on its projected profits [23][24].

Core Insights - The article discusses the departure of Shao Jiaxu from Luokai Co., Ltd. and highlights the significant financial impact of the company's investment in Quanzhou Qixing Electric Co., Ltd. and Jiangsu Luokai Electric Co., Ltd. since 2017, with projected revenues exceeding 600 million RMB in 2022 [1][2] Group 1: Company Operations and Financial Performance - Luokai Co., Ltd. sold Quanzhou Qixing at a price reflecting a price-to-earnings (PE) ratio of over 5 times, which significantly affected its revenue [2][20] - Quanzhou Qixing has contributed over 1.8 billion RMB in revenue to Luokai since its establishment, showcasing strong financial performance post-separation from Qixing Electric Co., Ltd. [2][11] - From 2020 to 2024, Quanzhou Qixing's revenues were approximately 1.38 billion RMB, 2.55 billion RMB, 4.16 billion RMB, 5.60 billion RMB, and 4.71 billion RMB, totaling around 1.84 billion RMB [11][12] Group 2: Business Relationships and Transactions - The relationship between Luokai and Qixing Electric evolved from competitors to a significant customer-supplier dynamic, with Qixing becoming Luokai's largest customer by 2024, contributing approximately 210 million RMB in sales [7][11] - Luokai's investment in Quanzhou Qixing involved a capital injection of 51 million RMB, alongside annual rental payments for facilities and equipment, leading to substantial revenue generation [20][18] - The ongoing rental agreements between Quanzhou Qixing and Qixing Electric for production facilities indicate a continued interdependence despite the initial separation [16][18] Group 3: Future Outlook and Strategic Decisions - Luokai plans to divest its stake in Quanzhou Qixing for approximately 100 million RMB, valuing the company at 197 million RMB, with a PE ratio of about 5.4 times based on projected profits [23][24] - The decision to sell Quanzhou Qixing is attributed to differing future business strategies between Luokai and its partners, aiming to streamline operations and reduce related party transactions [24][23] - The anticipated exit of Qixing Electric from the related business by mid-2024 is expected to allow Quanzhou Qixing to operate independently [20][21]