北京市朝阳区东三环北路 38 号泰康金融大厦 9 层 邮编：100026 9/F, Taikang Financial Tower, 38 North Road East Third Ring, Chaoyang District, Beijing 100026, China 电话/Tel: (+86)(10) 6589 0699 传真/Fax: (+86)(10) 6517 6800 网址/Website: www.grandall.com.cn 国浩律师（北京）事务所 二〇二五年九月 国浩律师（北京）事务所 法律意见书 国浩律师（北京）事务所 关于江苏国茂减速机股份有限公司 2025 年第一次临时股东会之法律意见书 关于 江苏国茂减速机股份有限公司 2025 年第一次临时股东会 之 法律意见书 国浩京律字[2025]第【0791】号 致：江苏国茂减速机股份有限公司 国浩律师（北京）事务所（以下简称"本所"）接受江苏国茂减速机股份有 限公司（以下简称"公司"）的委托，指派律师出席了公司 2025 年第一次临时 股东会（以下简称"本次股东会"）。现根据《中华人民共和国公司法》（以下 简称"《公司法》"）《上市 ...

证券代码：603915 证券简称：国茂股份 公告编号：2025-035 江苏国茂减速机股份有限公司 第四届董事会第一次会议决议公告 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法律责任。 一、董事会会议召开情况 江苏国茂减速机股份有限公司（简称"公司"）第四届董事会第一次会议于 2025 年 9 月 10 日以通讯方式发出通知，并于 2025 年 9 月 15 日在公司会议室以 现场结合通讯方式召开。会议应出席董事 7 人，实际出席会议的董事 7 人。会议 由半数以上董事共同推举的董事徐国忠先生主持，公司部分高级管理人员列席会 议。本次董事会会议的召集、召开和表决程序符合有关法律、行政法规、部门规 章、规范性文件和公司章程的规定。 二、董事会会议审议情况 本次董事会会议形成了如下决议： （一）审议通过了《关于选举公司第四届董事会董事长的议案》。 同意选举徐国忠先生担任公司第四届董事会董事长，任期自本次董事会选举 通过之日起至本届董事会届满之日止。 表决结果：7 票同意，0 票反对，0 票弃权。 （二）审议通过了《关于选举公司第四届董事 ...

Group 1 - The core point of the article highlights the trading activity of Guomao Co., which saw a 3.81% increase in stock price, closing at 17.17 yuan on September 8 [1] - The company experienced three block trades totaling 993,700 shares with a transaction value of 15.1042 million yuan [1] - Each of the three trades occurred at a price of 15.20 yuan per share, with a discount rate of -11.47% [1] Group 2 - The first trade involved 400,000 shares, valued at 6.08 million yuan, with the buyer being Founder Securities and the seller being Guotai Junan Securities [1] - The second trade involved 460,000 shares, valued at 6.992 million yuan, with the buyer being an institutional investor and the seller also being Guotai Junan Securities [1] - The third trade involved 133,700 shares, valued at 2.0322 million yuan, with the buyer being CITIC Securities and the seller again being Guotai Junan Securities [1] Group 3 - Over the past three months, Guomao Co. has recorded a total of 15 block trades, amounting to 144 million yuan [1] - In the last five trading days, the stock has increased by 2.26%, while the net outflow of main funds totaled 66.8351 million yuan [1]

简式权益变动报告书 上市公司：江苏国茂减速机股份有限公司 上市地点：上海证券交易所 江苏国茂减速机股份有限公司 股票简称：国茂股份 股票代码：603915 信息披露义务人一：徐国忠 住所及通讯地址：江苏省常州市武进区 信息披露义务人二：徐彬 住所及通讯地址：江苏省常州市武进区 信息披露义务人三：国茂减速机集团有限公司 住所及通讯地址：江苏省常州市武进高新技术开发区西湖路111号 信息披露义务人四：沈惠萍 住所及通讯地址：江苏省常州市武进区 信息披露义务人五：徐玲 住所及通讯地址：江苏省常州市武进区 权益变动性质：持股比例减少 签署日期：2025 年 9 月 8 日 1 一、本报告书系根据《中华人民共和国证券法》《上市公司收购管理办法》《公 开发行证券的公司信息披露内容与格式准则第15号——权益变动报告书》及其他相关 法律法规编写。 二、信息披露义务人签署本报告书已获得必要的授权和批准，其履行亦不违反信 息披露义务人章程或内部规则中的任何条款，或与之相冲突。 三、依据《中华人民共和国证券法》《上市公司收购管理办法》《公开发行证券 的公司信息披露内容与格式准则第15号——权益变动报告书》的规定，本报告书已全 面披 ...

证券代码：603915 证券简称：国茂股份 公告编号：2025-032 江苏国茂减速机股份有限公司关于实际控制人 及其一致行动人权益变动触及 5%刻度的提示性公告 公司实际控制人徐国忠、徐彬及其一致行动人国茂减速机集团有限公司、沈惠萍、 徐玲保证向本公司提供的信息真实、准确、完整，没有虚假记载、误导性陈述或重大 遗漏。 本公司董事会及全体董事保证公告内容与信息披露义务人提供的信息一致。 重要内容提示： 公司于 2025 年 9 月 8 日收到公司实际控制人徐国忠、徐彬及其一致行动人 国茂减速机集团有限公司、沈惠萍、徐玲（合称为"信息披露义务人"）发来的 《关于权益变动比例触及 5%整数倍的告知函》以及《简式权益变动报告书》， 自 2023 年 12 月 14 日信息披露义务人签署《简式权益变动报告书》之日至本报 告书签署日，因信息披露义务人基于自身资金需求减持股份以及公司回购注销限 制性股票导致信息披露义务人股权被动发生变化，导致信息披露义务人合计持股 比例减少至 65.00%，触及 5%的整数倍，信息披露义务人权益变动具体如下： ● 本次权益变动系自 2023 年 12 月 14 日信息披露义务人签署《简式 ...

Investment Rating - The investment rating for the company is "Buy" and is maintained [9]. Core Views - The company achieved a revenue of 6.88 billion yuan in Q2 2025, representing a year-on-year increase of 0.75%, while the net profit attributable to shareholders was 0.64 billion yuan, down 21.86% year-on-year [2][6]. - The company continues to strengthen its advantages in traditional sectors, with a steady increase in market share, while accelerating its layout in precision fields to seize opportunities in embodied intelligence and AI [2][11]. - Despite short-term weak demand and price competition affecting operations, the long-term outlook remains positive due to the company's established platform in general, specialized, and precision fields, solidifying its growth in the reducer sector [11]. Summary by Sections Financial Performance - In H1 2025, the company reported a revenue of 12.90 billion yuan, a year-on-year increase of 1.71%, and a net profit of 1.07 billion yuan, down 26.97% year-on-year [6]. - The company's revenue for Q2 2025 was 6.88 billion yuan, with a net profit of 0.64 billion yuan, reflecting a decline in profitability [6]. Market Position - The company has maintained its leading position in the domestic general reducer market, with a 5% year-on-year growth in its industrial transmission reducer business in H1 2025 [11]. - Key products such as modular reducers and high-power reducers saw sales growth of approximately 15% and 13% respectively, while traditional industrial cycloidal pinwheel reducers experienced an 8% decline in sales [11]. Strategic Initiatives - The company is actively expanding its precision field layout, focusing on harmonic reducers and precision reducers, and has initiated collaborations with major manufacturers in robotics [11]. - In July 2025, the company co-founded a technology company to deepen cooperation in the field of robotic joint modules [11]. - The company has increased its R&D investment, completing approximately 3,650 customized product designs in H1 2025 [11]. Future Outlook - The company is expected to achieve net profits of 2.80 billion yuan, 3.26 billion yuan, and 3.82 billion yuan for the years 2025 to 2027, with corresponding price-to-earnings ratios of 40x, 34x, and 29x [11].

Summary of Key Points Core Viewpoint - On September 5, Guomao Co., Ltd. executed a block trade of 2.84 million shares, amounting to 41.31 million yuan, which represented 9.56% of the total trading volume for the day. The average transaction price was 14.55 yuan, reflecting a discount of 12.06% compared to the market closing price of 16.54 yuan [1]. Trading Details - The highest transaction price recorded was 14.6 yuan, while the lowest was 14.52 yuan [1]. - Multiple brokerage firms participated in the transactions, including China Merchants Securities and CITIC Securities, indicating a diverse interest from institutional investors [2][3]. - The trading volume and amounts varied across different brokerage firms, with notable transactions including 715.4 thousand yuan at a price of 14.6 yuan and 580.8 thousand yuan at a price of 14.52 yuan [3].

江苏国茂减速机股份有限公司 2025 年第一次临时股东会现场会议须知 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》和《公司章程》等文 件的相关规定，为维护投资者的合法权益，确保股东会现场会议的正常秩序和议事效 率，特制订如下现场会议须知，望股东及股东代理人（以下统称为"股东"）、董事、其 他有关人员严格遵守。 一、本次股东会设会议秘书处，具体负责会议组织工作和股东登记等会务事宜。 二、董事会将维护股东的合法权益，以确保会议正常秩序和议事效率为原则，认真 履行法定职责。 江苏国茂减速机股份有限公司 2025 年第一次临时股东会会议资料 二○二五年九月十五日 三、股东要认真履行法定义务，不得侵犯其他股东的权益，不得扰乱会议的正常程 序。 四、股东依法享有发言权、质询权、表决权等权利。要求发言或提问的股东应当向 会议秘书处登记。股东可将有关意见填在征询表上，由会议秘书处汇总后，统一交有关 人员进行解答。股东发言应围绕本次会议所审议的议案，简明扼要。 五、股东发言的总时间原则上控制在 30 分钟内。有两名以上股东同时要求发言时， 主持人将按照所持股数由多到少的顺序安排发言。 六、股东发言时，应首先报告所持股 ...

9月5日，国茂股份涨5.05%，截至发稿，报16.42元/股，成交2.74亿元，换手率2.60%，总市值107.82亿 元。 资料显示，江苏国茂减速机股份有限公司位于江苏省常州市武进高新技术产业开发区龙潜路98号，成立 日期2013年3月21日，上市日期2019年6月14日，公司主营业务涉及减速机的研发、生产和销售。主营业 务收入构成为：减速机96.87%，配件其他3.13%。 从基金十大重仓股角度 数据显示，太平基金旗下1只基金重仓国茂股份。太平科技先锋混合发起式A（023044）二季度持有股 数9万股，占基金净值比例为4.68%，位居第六大重仓股。根据测算，今日浮盈赚取约7.11万元。 太平科技先锋混合发起式A（023044）成立日期2025年4月1日，最新规模2301.44万。成立以来收益 16.29%。 太平科技先锋混合发起式A（023044）基金经理为徐昊。 截至发稿，徐昊累计任职时间158天，现任基金资产总规模2794.87万元，任职期间最佳基金回报 16.29%， 任职期间最差基金回报15.99%。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于 ...

Group 1: Key Recommendations - Kangtai Biological (300601) shows good revenue growth with rapid R&D progress, achieving operating revenue of 1.392 billion yuan in H1 2025, up 15.81% year-on-year, but net profit down 77.30% due to rising costs and increased R&D investment [6][7][9] - The chemical industry overall performance in H1 2025 has recovered year-on-year, with total revenue of 1.124 trillion yuan, up 3.02%, and net profit of 69.724 billion yuan, up 4.43% [12][13] - Guomao Co., Ltd. (603915) reported operating revenue of 1.29 billion yuan in H1 2025, up 1.71%, but net profit decreased by 26.97% due to cautious capital expenditure in the manufacturing sector [18][19] - The market for unmanned forklifts is entering an accelerated penetration phase, with significant growth expected in the logistics sector [23][25] - Haier Biomedical (688139) experienced a strong overseas business performance, with revenue of 1.196 billion yuan in H1 2025, despite a slight decline in overall revenue [26][27][30] - Qingdao Beer (600600) achieved operating revenue of 20.491 billion yuan in H1 2025, up 2.11%, with net profit increasing by 7.21% [38][39][41] Group 2: Industry Insights - The chemical industry is witnessing structural optimization on the supply side, with a focus on domestic demand driven by new consumption trends and technological advancements [12][15][16] - The electronic industry is experiencing a mild recovery, with significant growth in AI-related sectors, particularly in cloud services and advertising [32][34][36] - The market for unmanned forklifts is projected to grow significantly, with sales expected to reach approximately 74,100 units by 2027, doubling the market size from 2024 [25][23] - The beer industry is facing external pressures but maintains stable growth, with Qingdao Beer focusing on product structure upgrades and channel expansion [38][40][41]