证券代码：603859 证券简称：能科科技 公告编号：2025-066 能科科技股份有限公司 关于召开 2025 年第三季度业绩说明会的公告 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。 重要内容提示： 会议召开时间：2025 年 11 月 26 日（星期三）16:00-17:00 会议召开地点：上海证券交易所上证路演中心（网址：https://roadshow. sseinfo.com/） 会议召开方式：上证路演中心网络互动 1 （二） 会议召开地点：上证路演中心（网址：https://roadshow.sseinfo.com/） （三） 会议召开方式：上证路演中心网络互动 三、 参加人员 投资者可于 2025 年 11 月 19 日（星期三）至 11 月 25 日（星期二）16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 (nancalir@nancal.com)进行提问。公司将在说明会上对投资者普遍关注的问题进 行回答。 能科科技股份有限公司（以下简称"公司"）已于 2025 年 10 月 2 ...

能科科技股份有限公司 2025 年第三次临时股东大会 会 议 资 料 二 O 二五年十一月 能科科技股份有限公司 2025 年第三次临时股东大会会议须知 为了维护全体股东的合法权益，确保股东大会的正常秩序和议事效率，保证 大会的顺利进行，根据中国证券监督管理委员会发布的《上市公司股东会规则》 及《公司章程》《股东会议事规则》的规定，特制定本须知。 一、经公司审核，符合参加本次大会的股东、股东代表以及其他出席人员可 进入会场，公司有权拒绝不符合条件的人员进入会场。 二、与会者必须遵守本次股东大会的议程安排。进入会场后，应按照会务安 排及次序就座。会议期间，应保持会场安静，不得干扰大会秩序，寻衅滋事、打 断与会人员的正常发言以及侵犯股东合法权益的行为，公司会务组有权予以制止 并报告有关部门查处。 三、股东发言应有秩序，并听从会议主持人安排。 四、股东发言范围仅限于本次大会审议的议题或公司的经营、管理、发展等 内容，超出此限的，大会组织方有权取消发言人该次发言资格，应答者有权拒绝 回答无关问题。 五、股东对公司有关经营、管理等方面的建议可采取口头发言或书面形式， 但口头发言时间应服从大会会务组安排。 六、股东及股东 ...

Core Viewpoint - The company is focused on building a multi-field industrial ecosystem and has established deep collaborations with leading domestic and international computing power vendors, large model manufacturers, and robotics companies to jointly develop integrated solutions that connect "computing power - models - applications" [1] Group 1 - The company is actively working on constructing a multi-field industrial ecosystem [1] - The company has formed deep partnerships with leading computing power vendors, large model manufacturers, and robotics companies [1] - The collaborative efforts aim to develop integrated solutions that encompass "computing power - models - applications" [1]

Core Viewpoint - Nengke Technology (603859) has a diverse project portfolio covering multiple industries, indicating a broad market presence and potential for growth [1] Group 1: Industry Coverage - The company has projects in heavy machinery, automotive, high-tech electronics, general machinery, and energy power sectors, showcasing its involvement in various key industries [1]

Core Viewpoint - The report highlights the target price increases for several listed companies, indicating strong potential growth in various sectors, particularly in medical devices, home appliances, and engineering machinery [2][4]. Group 1: Target Price Increases - Weigao Orthopedics, Gree Electric Appliances, and Sany Heavy Industry have the highest target price increases of 46.70%, 40.99%, and 37.03% respectively, indicating strong market confidence in these companies [2][4]. - The target prices for Gree Electric Appliances and Sany Heavy Industry are set at 56.00 yuan and 29.90 yuan respectively [4]. Group 2: Rating Adjustments - On November 5, Citic Securities upgraded the rating of Trina Solar from "Hold" to "Buy," reflecting increased optimism about the company's future performance [5][6]. - Additionally, the rating for Nengke Technology was also upgraded from "Hold" to "Buy" by Industrial Securities [5][6]. Group 3: New Coverage - Salt Lake Co. received a "Buy" rating from Tianfeng Securities, marking its first coverage, indicating a positive outlook for the agricultural chemical sector [7][8]. - Haoyang Co. was also newly covered with an "Increase" rating by Industrial Securities, suggesting potential growth in the specialized equipment industry [7][8].

Key Insights - The report highlights significant year-on-year revenue growth in Q3, driven by advancements in the semiconductor and AR/VR testing sectors, particularly for companies like Maolai Optics and Junsheng Electronics [4][7] - Companies such as Amazon and Yudong Network have shown resilience in their revenue streams, with Amazon's Q3 revenue reaching $180.2 billion, a 13% increase year-on-year, and Yudong Network's revenue growing by 84.04% in the same period [21][27] - The report indicates a structural shift in the secondary market, with new infrastructure sectors experiencing a favorable market environment despite overall market pressure [18] Group 1: Company Performance - Maolai Optics reported a revenue of 503 million yuan in the first three quarters of 2025, a 34.05% increase year-on-year, with a net profit of 46 million yuan, up 86.57% [4] - Junsheng Electronics achieved a revenue of approximately 154.97 billion yuan in Q3 2025, reflecting a 10.25% year-on-year increase, with a net profit of about 4.13 billion yuan, up 35.4% [7] - Concept Electronics reported a net profit increase of 173.46% year-on-year, with a revenue of 315 million yuan in the first three quarters of 2025 [12] Group 2: Industry Trends - The semiconductor sector is experiencing robust growth, with Maolai Optics reporting that 58.80% of its revenue comes from this field [5] - The report notes a significant increase in new business orders for Junsheng Electronics, with a total of 714 billion yuan in new orders accumulated in the first three quarters of 2025 [9] - The e-commerce sector, particularly Amazon, continues to show resilience, with various revenue streams exceeding expectations, including a 24% increase in advertising service revenue [23][24] Group 3: Future Outlook - Forecasts for Maolai Optics suggest revenues of 673 million yuan, 871 million yuan, and 1.07 billion yuan for 2025-2027, with corresponding net profits of 63 million yuan, 97 million yuan, and 139 million yuan [6] - Junsheng Electronics is expected to achieve revenues of 625.64 billion yuan, 673.16 billion yuan, and 726.56 billion yuan from 2025 to 2027, with net profits projected at 15.39 billion yuan, 18.54 billion yuan, and 21.65 billion yuan [11] - Amazon's revenue is projected to reach $711 billion, $800 billion, and $900 billion for 2025-2027, with net profits of $76.5 billion, $87.9 billion, and $108.9 billion [26]

Investment Rating - The report assigns a "Buy" rating for the company, marking its first coverage [1][11]. Core Insights - The company has shown steady revenue growth, with a significant increase in net profit driven by an optimized business structure focusing on AI-related services [5][6]. - The partnership with Huawei has positioned the company at the core of the "industry + AI" ecosystem, enhancing its growth potential [9]. Financial Performance Summary - For the first three quarters of 2025, the company reported revenue of 1.089 billion yuan, a year-on-year increase of 5.05%, and a net profit attributable to shareholders of 165 million yuan, up 40.34% [4]. - In Q3 2025, revenue reached 351 million yuan, reflecting a 5.35% year-on-year growth, while net profit surged by 122.94% to 54 million yuan [4]. Business Growth Drivers - AI has emerged as the main growth engine, with AI-related revenue accounting for 30.79% of total revenue, amounting to 335 million yuan [6]. - The company has effectively controlled expenses, with sales and management expenses decreasing by 14.23% and 3.66% respectively, while R&D expenses increased by 2.97% [5]. Future Projections - Revenue projections for 2025-2027 are estimated at 1.76 billion, 2.08 billion, and 2.465 billion yuan respectively, with corresponding net profits of 236 million, 305 million, and 388 million yuan [11]. - The report anticipates a gradual increase in EPS from 0.97 yuan in 2025 to 1.58 yuan in 2027, with a decreasing P/E ratio from 47.27x to 28.81x over the same period [11].

Group 1 - The core point of the news is that Nengke Technology's stock has experienced a decline of 5.17%, with a current price of 43.26 CNY per share and a total market capitalization of 10.586 billion CNY [1] - Nengke Technology, established on December 26, 2006, and listed on October 21, 2016, focuses on industries such as national defense, high-tech electronics, 5G, automotive and rail transportation, and equipment manufacturing, while also expanding into new energy, consumer goods, and infrastructure [1] - The company's main business revenue composition includes: cloud products and services (30.35%), industrial engineering and electrical products and services (30.24%), software systems and services (20.90%), AI products and services (18.08%), and other (0.43%) [1] Group 2 - From the perspective of major fund holdings, only one fund under CITIC Prudential holds shares in Nengke Technology, specifically the CITIC Prudential Small and Medium Cap Mixed A Fund (550009), which holds 165,800 shares, accounting for 2.82% of the fund's net value [2] - The CITIC Prudential Small and Medium Cap Mixed A Fund has a current scale of 2.57 billion CNY and has achieved a return of 36.76% this year, ranking 1955 out of 8150 in its category [2] - The fund manager, Sun Haozhong, has been in position for 5 years and 318 days, with the fund's total asset scale at 3.145 billion CNY, achieving a best return of 81.2% and a worst return of -54.09% during his tenure [3]

Group 1 - In October, public fund institutions showed a significant increase in research enthusiasm, with 159 institutions participating in A-share listed company research, covering 632 stocks across 30 industries, resulting in a total of 7,452 research instances, a 60.57% increase from September [1] - The research focus of public fund institutions has further intensified, with 165 stocks receiving at least 15 research instances, and 15 stocks receiving over 50 instances, highlighting the increased attention on specific companies [2] - The pharmaceutical and biotechnology sectors emerged as core areas of interest for institutions, reflecting their emphasis on high-quality targets in these industries during market fluctuations [2] Group 2 - The top three public fund institutions by research frequency in October were: Chuangjin Hexin Fund with 302 instances, followed by Ping An Fund with 169 instances, and Bosera Fund with 137 instances, focusing on technology manufacturing sectors [1] - The A-share market showed an upward trend in October, with the Shanghai Composite Index briefly surpassing 4,000 points, leading to a positive price increase for 304 of the 632 stocks researched by public fund institutions [1] - The medical and electronic sectors were the most researched, with the pharmaceutical sector receiving 1,229 instances of research across 85 stocks, while the electronic sector received 1,069 instances across 78 stocks [2]

能科科技股份有限公司 信息披露事务管理制度 （2025 年 11 月修订） （二）公司高级管理人员； （三）公司董事会秘书和信息披露事务管理部门； （四）公司总部各中心以及各分公司、子公司； （五）公司控股股东、实际控制人和持股 5%以上的大股东； （六）收购人，重大资产重组、再融资、重大交易有关各方等自然人、单位 及其相关人员，破产管理人及其成员； 第一章 总则 第一条 为进一步规范和加强能科科技股份有限公司（以下简称公司）信息 披露工作，完善信息披露管理制度，正确履行公司的信息披露义务，维护投资者 的合法权益，确保公司信息披露的真实、准确、完整、及时、公平、合法、简明 清晰、通俗易懂，根据法律法规、监管要求和《能科科技有限公司公司章程》（以 下简称"《公司章程》"）的规定（以下简称"适用法律、法规和要求"），制 定本制度。 第二条 本制度所称信息是指可能对公司证券及其衍生品种价格、交易量或 投资人的投资决策产生较大影响的信息（即股价敏感信息），及根据适用法律、 法规和要求应当披露的其他信息。 第三条 本制度所称信息披露是指根据适用的法律、法规和要求，在规定的 时间内，在规定的媒体上，以规定的方式向社会公众 ...