| 证券代码：603890 | 证券简称：春秋电子 | 公告编号：2025-040 | | --- | --- | --- | | 债券代码：113577 | 债券简称：春秋转债 | | | 债券代码：113667 | 债券简称：春23转债 | | 苏州春秋电子科技股份有限公司 关于召开 2025 年半年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： （网址：https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络文字互动 投资者可于 2025 年 09 月 15 日（星期一）至 09 月 19 日（星期五）16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或通过苏州春秋电子科技 股份有限公司（以下简称"公司"）邮箱（zhengquan@chunqiu-group.com）进行 提问。公司将在信息披露允许的范围内，于说明会上对投资者普遍关注的问题进 行回答。 公司已于 2025 年 08 月 21 日发布公司 2025 年半年度报告，为便于广大投 ...

一、"春 23 转债"发行上市概况 经中国证券监督管理委员会证监许可[2022]2164 号文核准，公司于 2023 年 行总额 57,000 万元，期限 6 年，自 2023 年 3 月 17 日起至 2029 年 3 月 16 日止。 票面利率第一年 0.30%、第二年 0.50%、第三年 1.00%、第四年 1.50%、第五年 经上海证券交易所自律监管决定书[2023]64 号文同意，公司 57,000 万元可 转换公司债券于 2023 年 4 月 11 日起在上海证券交易所挂牌交易，债券简称"春 根据有关规定和公司《向不特定对象发行可转债募集说明书》的约定，公司 该次发行的"春 23 转债"自 2023 年 9 月 25 日起可转换为本公司股份，转股期 间为 2023 年 9 月 25 日至 2029 年 3 月 16 日，初始转股价格为 10.40 元/股。 因 2022 年年度利润分配，自 2023 年 6 月 20 日起，"春 23 转债"转股价格 由人民币 10.40 元/股调整为人民币 10.30 元/股。 因 2024 年年度利润分配，自 2025 年 6 月 19 日起，"春 23 转债 ...

| 证券代码：603890 | 证券简称：春秋电子 | 公告编号：2025-039 | | --- | --- | --- | | 债券代码：113577 | 债券简称：春秋转债 | | | 债券代码：113667 | 债券简称：春23转债 | | 苏州春秋电子科技股份有限公司 关于不提前赎回"春 23 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法律责任。 重要内容提示： 一、"春 23 转债"发行上市概况 经中国证券监督管理委员会证监许可[2022]2164 号文核准，公司于 2023 年 3 月 17 日向不特定对象发行了 570 万张可转换公司债券，每张面值 100 元，发 行总额 57,000 万元，期限 6 年，自 2023 年 3 月 17 日起至 2029 年 3 月 16 日止。 票面利率第一年 0.30%、第二年 0.50%、第三年 1.00%、第四年 1.50%、第五年 2、有条件赎回 经上海证券交易所自律监管决定书[2023]64 号文同意，公司 57,000 万元可 转换公司债券于 2023 年 ...

国联民生证券承销保荐有限公司 关于苏州春秋电子科技股份有限公司 不提前赎回"春23转债"的核查意见 国联民生证券承销保荐有限公司（以下简称"国联民生保荐"或"保荐人"） 作为苏州春秋电子科技股份有限公司（以下简称"春秋电子"或"公司"） 2023年 向不特定对象发行可转换公司债券并上市的保荐机构，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》《可转换公司债券管理办法 》和《上海证券交易所上市公司自律监管指引第12号——可转换公司债券》等 有关规定，对春秋电子本次不行使"春23转债"提前赎回权利的事项进行了核 查，核查情况及核查意见如下： 一、"春23转债"发行上市概况 经中国证券监督管理委员会证监许可[2022]2164号文核准，公司于2023年3 月17日向不特定对象发行了570万张可转换公司债券，每张面值100元，发行总 额57,000万元，期限6年，自2023年3月17日起至2029年3月16日止。票面利率第 一年0.30%、第二年0.50%、第三年1.00%、第四年1.50%、第五年2.00%、第六 年2.50%。 经上海证券交易所自律监管决定书[2023]64号文同意，公司57 ...

Group 1 - The company issued 2.4 million convertible bonds with a total amount of 240 million yuan, with a maturity period of six years and increasing interest rates from 0.70% to 3.00% [1] - The initial conversion price was set at 15.69 yuan per share, which has been adjusted multiple times due to profit distributions and stock issuances, currently standing at 10.50 yuan per share [2][3] - The bonds are listed on the Shanghai Stock Exchange and have been trading since May 13, 2020, under the name "春秋转债" [1] Group 2 - The company has redemption clauses for the convertible bonds, allowing for redemption at 112% of the face value after five trading days post-maturity, and under certain conditions during the conversion period [3][4] - A conditional redemption clause may be triggered if the company's stock price remains above 130% of the conversion price for at least 15 out of 30 trading days [5] - As of September 1, 2025, the company's stock price has met the criteria for triggering the conditional redemption clause, allowing the company to decide on redemption [5]

| 证券代码：603890 | 证券简称：春秋电子 | 公告编号：2025-038 | | --- | --- | --- | | 债券代码：113577 | 债券简称：春秋转债 | | | 债券代码：113667 | 债券简称：春23转债 | | 苏州春秋电子科技股份有限公司 关于"春秋转债"预计满足赎回条件的提示性公告 因 2021 年年度利润分配，自 2022 年 7 月 6 日起，"春秋转债"转股价格由 人民币 10.85 元/股调整为人民币 10.75 元/股。 因 2022 年年度利润分配，自 2023 年 6 月 20 日起，"春秋转债"转股价格 由人民币 10.75 元/股调整为人民币 10.65 元/股。 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、"春秋转债"发行上市概况 经中国证券监督管理委员会证监许可[2020]81 号文核准，苏州春秋电子科 技股份有限公司（以下简称"公司"、"本公司"）于 2020 年 4 月 14 日公开发 行了 240 万张可转换公司债券，每张面值 100 元，发行总额 ...

Core Viewpoint - Spring Autumn Electronics (SH603890) reported a significant increase in net profit for the first half of 2025, with a year-on-year growth of 248.44% [1][2]. Financial Performance - The company's operating revenue for the first half of 2025 was 1.926 billion yuan, representing a year-on-year increase of 2.62% [1][2]. - Total profit for the period reached 112.29 million yuan, up 453.88% compared to the same period last year [1][2]. - The net profit attributable to shareholders was 933.18 million yuan, marking a 248.44% increase year-on-year [1][2]. - The net profit after deducting non-recurring gains and losses was 763.14 million yuan, reflecting a growth of 384.47% [1][2]. - Basic earnings per share were reported at 0.21 yuan [2]. Profitability Metrics - The gross profit margin for the first half of 2025 was 18.05%, an increase of 3.53 percentage points year-on-year [2]. - The net profit margin stood at 4.63%, up 4.58 percentage points from the previous year [2]. Expense Management - The company's period expenses totaled 210 million yuan, a decrease of 16.57 million yuan compared to the same period last year [3]. - The expense ratio was 10.91%, down 1.17 percentage points year-on-year [3]. - Sales expenses increased by 33.70%, while management and R&D expenses decreased by 23.75% and 28.49%, respectively [3]. Company Background - Spring Autumn Electronics was established on August 23, 2011, and went public on December 12, 2017 [6]. - The company specializes in the research, design, production, and sales of precision structural components and related precision molds for consumer electronics [6].

| 证券代码：603890 | 证券简称：春秋电子 | 公告编号：2025-037 | | --- | --- | --- | | 债券代码：113577 | 债券简称：春秋转债 | | | 债券代码：113667 | 债券简称：春23转债 | | 苏州春秋电子科技股份有限公司 关于"春 23 转债"预计满足赎回条件的提示性公告 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、"春 23 转债"发行上市概况 经中国证券监督管理委员会证监许可[2022]2164 号文核准，公司于 2023 年 3 月 17 日向不特定对象发行了 570 万张可转换公司债券，每张面值 100 元，发 行总额 57,000 万元，期限 6 年，自 2023 年 3 月 17 日起至 2029 年 3 月 16 日止。 票面利率第一年 0.30%、第二年 0.50%、第三年 1.00%、第四年 1.50%、第五年 2.00%、第六年 2.50%。 因 2022 年年度利润分配，自 2023 年 6 月 20 日起，"春 23 转债"转股价格 由人 ...

Core Viewpoint - Spring Autumn Electronics (603890) reported a strong performance in its 2025 mid-year financial results, with significant increases in revenue and net profit compared to the previous year [1] Financial Performance - Total revenue for the first half of 2025 reached 1.926 billion yuan, a year-on-year increase of 2.62% [1] - Net profit attributable to shareholders was 93.3183 million yuan, up 248.44% year-on-year [1] - In Q2 2025, total revenue was 1.058 billion yuan, reflecting a 9.34% increase year-on-year [1] - Q2 net profit attributable to shareholders was 53.021 million yuan, a substantial increase of 330.26% year-on-year [1] - Gross margin improved to 18.05%, with a year-on-year increase of 24.31% [1] - Net margin surged to 4.63%, marking an increase of 8836.87% year-on-year [1] Cost and Expenses - Total selling, administrative, and financial expenses amounted to 140 million yuan, accounting for 7.25% of revenue, which is a 6.2% increase year-on-year [1] - Operating cash flow per share was 0.31 yuan, up 94.81% year-on-year [1] - Earnings per share reached 0.21 yuan, reflecting a 250% increase year-on-year [1] Balance Sheet Highlights - Cash and cash equivalents remained stable at 879 million yuan, with a slight change of 0.02% [2] - Accounts receivable increased to 1.333 billion yuan, a rise of 21.66% [2] - Interest-bearing liabilities decreased to 1.357 billion yuan, down 11.84% [2] - Net asset value per share was 6.44 yuan, an increase of 8.27% year-on-year [1] Investment and Cash Flow - Long-term equity investments saw a significant decrease of 82.64% due to the disposal of an associate [2] - Cash flow from operating activities increased by 94.82%, attributed to higher cash receipts from sales and tax refunds [3] - Cash flow from investing activities rose by 62.13%, as cash payments for fixed assets decreased [3] - Cash flow from financing activities decreased significantly by 267.17%, due to reduced bank borrowings [3] Business Model and Market Position - The company's performance is primarily driven by research and development [4] - Analysts expect the company's performance for 2025 to reach 260 million yuan, with an average earnings per share forecast of 0.59 yuan [4]

Group 1 - Xiamen Tungsten's revenue for the first half of 2025 reached 19.178 billion yuan, an increase of 11.75% year-on-year [1] - Xiamen Tungsten's net profit attributable to shareholders decreased by 4.37% year-on-year to 972 million yuan [1] - Xiamen Tungsten plans to distribute a cash dividend of 1.84 yuan per 10 shares [1] Group 2 - Sinopec's revenue for the first half of 2025 was 1.41 trillion yuan, a decrease of 10.6% year-on-year [1][2] - Sinopec's net profit attributable to shareholders fell by 39.8% year-on-year to 21.483 billion yuan [1][2] - Sinopec's basic earnings per share were 0.177 yuan [1] Group 3 - Xinhua Department Store's revenue for the first half of 2025 was 3.254 billion yuan, a decrease of 0.99% year-on-year [3][4] - Xinhua Department Store's net profit attributable to shareholders decreased by 2.52% year-on-year to 86.08 million yuan [3][4] - Xinhua Department Store plans to distribute a cash dividend of 1 yuan per 10 shares [3] Group 4 - Huaqin Technology's revenue for the first half of 2025 reached 516 million yuan, an increase of 6.44% year-on-year [5][6] - Huaqin Technology's net profit attributable to shareholders decreased by 32.45% year-on-year to 146 million yuan [5][6] - Huaqin Technology plans to distribute a cash dividend of 1.3 yuan per 10 shares [5] Group 5 - Tianhao Energy's revenue for the first half of 2025 was 1.372 billion yuan, a decrease of 32.15% year-on-year [7] - Tianhao Energy's net profit attributable to shareholders decreased by 32.08% year-on-year to 69.01 million yuan [7] - Tianhao Energy's basic earnings per share were 0.0798 yuan [7] Group 6 - Wanliyang's revenue for the first half of 2025 reached 2.812 billion yuan, an increase of 2.69% year-on-year [8][9] - Wanliyang's net profit attributable to shareholders increased by 50.24% year-on-year to 277 million yuan [8][9] - Wanliyang's basic earnings per share were 0.21 yuan [8] Group 7 - Kede CNC's revenue for the first half of 2025 was 295 million yuan, an increase of 15.24% year-on-year [10] - Kede CNC's net profit attributable to shareholders increased by 1.27% year-on-year to 49.06 million yuan [10] - Kede CNC's basic earnings per share were 0.4582 yuan [10] Group 8 - Saifutian's revenue for the first half of 2025 reached 1.06 billion yuan, an increase of 62.41% year-on-year [11] - Saifutian achieved a net profit of 3.08 million yuan, recovering from a loss of 12.49 million yuan in the previous year [11] - Saifutian's basic earnings per share were 0.01 yuan [11] Group 9 - Funeng's revenue for the first half of 2025 was 6.369 billion yuan, a decrease of 4.44% year-on-year [13][14] - Funeng's net profit attributable to shareholders increased by 12.48% year-on-year to 1.337 billion yuan [13][14] - Funeng plans to distribute a cash dividend of 0.73 yuan per 10 shares [13] Group 10 - Ningbo Shipping reported a net loss of 39.23 million yuan for the first half of 2025 [15][16] - Ningbo Shipping's revenue for the first half of 2025 was 1.157 billion yuan, an increase of 11.33% year-on-year [15][16] - Ningbo Shipping's basic earnings per share were a loss of 0.0325 yuan [15] Group 11 - Samsung Medical's revenue for the first half of 2025 reached 7.972 billion yuan, an increase of 13.93% year-on-year [17][18] - Samsung Medical's net profit attributable to shareholders increased by 6.93% year-on-year to 1.23 billion yuan [17][18] - Samsung Medical plans to distribute a cash dividend of 4.85 yuan per 10 shares [17] Group 12 - Huiding Technology's revenue for the first half of 2025 was 2.251 billion yuan, a decrease of 0.20% year-on-year [20] - Huiding Technology's net profit attributable to shareholders increased by 35.74% year-on-year to 431 million yuan [20] - Huiding Technology plans to distribute a cash dividend of 0.15 yuan per share [20] Group 13 - Baihua Pharmaceutical's revenue for the first half of 2025 reached 202 million yuan, an increase of 2.95% year-on-year [21] - Baihua Pharmaceutical's net profit attributable to shareholders increased by 12.45% year-on-year to 25.48 million yuan [21] - Baihua Pharmaceutical's basic earnings per share were 0.0663 yuan [21] Group 14 - Stanley's revenue for the first half of 2025 was 6.391 billion yuan, an increase of 12.66% year-on-year [22][23] - Stanley's net profit attributable to shareholders increased by 18.9% year-on-year to 607 million yuan [22][23] - Stanley plans to distribute a cash dividend of 0.45 yuan per 10 shares [22] Group 15 - Duoli Technology's revenue for the first half of 2025 reached 1.734 billion yuan, an increase of 13.15% year-on-year [24] - Duoli Technology's net profit attributable to shareholders decreased by 28.13% year-on-year to 157 million yuan [24] - Duoli Technology's basic earnings per share were 0.51 yuan [24] Group 16 - Datang Telecom reported a net loss of 81.17 million yuan for the first half of 2025 [25][26] - Datang Telecom's revenue for the first half of 2025 was 275 million yuan, a decrease of 3.32% year-on-year [25][26] - Datang Telecom's basic earnings per share were a loss of 0.0623 yuan [25] Group 17 - Niuwei Co.'s revenue for the first half of 2025 reached 3.404 billion yuan, an increase of 19.96% year-on-year [27][28] - Niuwei Co.'s net profit attributable to shareholders increased by 30.44% year-on-year to 637 million yuan [27][28] - Niuwei Co. plans to distribute a cash dividend of 5.8 yuan per 10 shares [27] Group 18 - ST Zhiyun reported a net loss of 106 million yuan for the first half of 2025 [29][30] - ST Zhiyun's revenue for the first half of 2025 was 89.13 million yuan, a decrease of 63.59% year-on-year [29][30] - ST Zhiyun's basic earnings per share were a loss of 0.37 yuan [29] Group 19 - Huace Testing's revenue for the first half of 2025 reached 2.96 billion yuan, an increase of 6.05% year-on-year [31] - Huace Testing's net profit attributable to shareholders increased by 7.03% year-on-year to 467 million yuan [31] - Huace Testing plans to distribute a cash dividend of 0.5 yuan per 10 shares [31] Group 20 - Taixiang's revenue for the first half of 2025 was 219 million yuan, an increase of 6.57% year-on-year [32] - Taixiang's net profit attributable to shareholders increased by 16.12% year-on-year to 25.30 million yuan [32] - Taixiang's basic earnings per share were 0.2533 yuan [32] Group 21 - Huayi Technology applied for a credit line of up to 165 million yuan from HSBC [33][34] - Huayi Technology will use real estate as collateral for the credit line [33][34] Group 22 - Hengong Precision plans to use up to 70 million yuan of idle raised funds for cash management [35][36] - Hengong Precision will invest in high-security, high-liquidity products with a term not exceeding 12 months [35][36] Group 23 - Tianhe's financial assistance to its associate company has not been repaid [37] - Tianhe provided 243,200 yuan in financial assistance to its associate company [37] Group 24 - Spring and Autumn Electronics' revenue for the first half of 2025 reached 1.926 billion yuan, an increase of 2.62% year-on-year [38] - Spring and Autumn Electronics' net profit attributable to shareholders increased by 248.44% year-on-year to 93.31 million yuan [38] - Spring and Autumn Electronics' basic earnings per share were 0.21 yuan [38] Group 25 - Kingsoft Office's revenue for the first half of 2025 was 2.657 billion yuan, an increase of 10.12% year-on-year [39][40] - Kingsoft Office's net profit attributable to shareholders increased by 3.57% year-on-year to 747 million yuan [39][40] Group 26 - Yanjinpuzi's revenue for the first half of 2025 reached 2.941 billion yuan, an increase of 19.58% year-on-year [41] - Yanjinpuzi's net profit attributable to shareholders increased by 16.70% year-on-year to 373 million yuan [41] Group 27 - Muyuan's revenue for the first half of 2025 was 76.463 billion yuan, an increase of 34.46% year-on-year [43][44] - Muyuan's net profit attributable to shareholders increased by 1169.77% year-on-year to 10.53 billion yuan [43][44] - Muyuan plans to distribute a cash dividend of 9.32 yuan per 10 shares [43][44] Group 28 - Tianwei Food is planning to issue H-shares and apply for listing on the Hong Kong Stock Exchange [45][46] Group 29 - Alloy Investment's shareholder plans to reduce their stake by no more than 3% [47] - Alloy Investment's shareholder plans to sell up to 11.5531 million shares [47] Group 30 - Rongzhi Rixin's controlling shareholder plans to reduce their stake by no more than 3% [48] - Rongzhi Rixin's controlling shareholder plans to sell up to 1.2318 million shares [48] Group 31 - Yijiahe's shareholders plan to reduce their stake by no more than 2% [49] - Yijiahe's shareholders plan to sell up to 409.72 million shares [49] Group 32 - Dongfeng Group adjusted the upper limit of its share repurchase price to 6.28 yuan per share [50] Group 33 - Jingu's revenue for the first half of 2025 reached 2.123 billion yuan, an increase of 10.04% year-on-year [51] - Jingu's net profit attributable to shareholders increased by 45.36% year-on-year to 30.27 million yuan [51] Group 34 - Yibai Pharmaceutical reported a net loss of 19.9 million yuan for the first half of 2025 [52] - Yibai Pharmaceutical's revenue for the first half of 2025 was 999 million yuan, a decrease of 14.99% year-on-year [52] Group 35 - Yonghui Supermarket reported a net loss of 241 million yuan for the first half of 2025 [53] - Yonghui Supermarket's revenue for the first half of 2025 was 29.948 billion yuan, a decrease of 20.73% year-on-year [53] Group 36 - Suotong Development's net profit increased by 1568.52% year-on-year to 523 million yuan [54] - Suotong Development's revenue for the first half of 2025 was 8.306 billion yuan, an increase of 28.28% year-on-year [54]