Core Viewpoint - The medical cleanroom engineering industry in China is experiencing significant growth due to increasing demand from hospitals driven by an aging population and advancements in medical technology. The industry is projected to expand from 6.78 billion yuan in 2013 to 23.518 billion yuan in 2024, indicating a robust growth trajectory [1][6]. Industry Overview - Medical cleanroom engineering involves the design, construction, and management of environments that eliminate airborne particles, harmful gases, and bacteria, ensuring controlled parameters such as temperature, humidity, and cleanliness to provide a safe medical environment [1][6]. - The industry is witnessing an expansion in application areas beyond operating rooms and ICUs to include various medical departments, driven by policy support for healthcare infrastructure development [1][6]. Current Industry Status - The market size of the medical cleanroom engineering industry in China is projected to reach 30 billion yuan by 2028, reflecting ongoing growth due to industry upgrades and technological advancements [6]. - The annual new construction area for medical cleanrooms has increased from 1.5415 million square meters in 2013 to 3.704 million square meters in 2024, with expectations to reach 4.7 million square meters by 2028 [8]. - The average construction price for medical cleanrooms has risen from 4,398.34 yuan per square meter in 2013 to 6,349.41 yuan per square meter in 2024, with a compound annual growth rate of 3.39% [10]. Industry Structure - The medical cleanroom engineering industry in China is characterized by a high degree of marketization and intense competition, with a concentration of major players like Yaxiang Integration, Shenghui Integration, and Sujing Group dominating the mid-to-high-end market [12]. - Many smaller companies focus on low-end markets with limited technical capabilities, leading to fierce price competition [12]. Development Trends - Market demand is expected to continue growing due to increasing healthcare needs and the necessity for high-standard cleanrooms in new and renovated medical facilities [17]. - Technological innovations, such as smart control systems and advanced air filtration technologies, are anticipated to enhance the performance and efficiency of cleanrooms [18]. - The industry is likely to integrate with emerging technologies like artificial intelligence and the Internet of Things, expanding its application scope beyond traditional healthcare settings to include areas like medical device research and rehabilitation centers [20].

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。 亚翔系统集成科技（苏州）股份有限公司（以下简称"公司"）于 2025 年 4 月 24 日召开第六届董事会第七次会议，审议通过了《关于拟注销子公司 的议案》，同意注销全资子公司苏州翔信消防工程有限公司（以下简称"翔 信消防"），并授权经营管理层办理注销事项。本次注销事项不构成关联交 易，也不构成《上市公司重大资产重组管理办法》规定的重大资产重组。根 据《上海证券交易所股票上市规则》、《公司章程》等的相关规定，本次注 销事项在公司董事会审批权限范围内，无需提交股东大会审议。具体情况如 下： 一、注销子公司基本情况 企业名称：苏州翔信消防工程有限公司 证券代码：603929 证券简称：亚翔集成 公告编号：2025-020 亚翔系统集成科技（苏州）股份有限公司 关于拟注销子公司的公告 法定代表人：姚祖骧 成立日期：2018 年 04 月 27 日 经营范围：消防工程施工；消防设施维护、保养；消防器材销售。（依法 须经批准的项目，经相关部门批准后方可开展经营活动） 股权结构：公司 ...

本公司监事会及全体监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、监事会会议召开情况 亚翔系统集成科技（苏州）股份有限公司（以下简称"公司"） 第六届监事会第七次会议于 2025 年 4 月 17 日以书面方式发出会议 通知和会议材料，并于 2025 年 4 月 24 日以现场及通讯会议方式召 开。本次监事会会议应到监事三名，实到监事三名,符合《公司法》 和《公司章程》的规定。会议由监事会主席王富琳先生主持。本次会 议的召开符合《公司法》、《上海证券交易所股票上市规则》等有关法 律、行政法规、部门规章、规范性文件和《公司章程》的规定。会议 决议合法有效。 二、监事会会议经认真审议，情况如下： 证券代码：603929 证券简称：亚翔集成 公告编号：2025-018 亚翔系统集成科技（苏州）股份有限公司 关于第六届监事会第七次会议决议的公告 季报具体内容详见同日披露的《亚翔集成—公司 2025 年第一季 度报告》（公告编号：2025-019）。 特此公告! 亚翔系统集成科技（苏州）股份有限公司监事会 2025 年 4 月 24 日 审议 ...

Financial Performance - The company's operating revenue for Q1 2025 was ¥835,003,533.61, a decrease of 23.83% compared to ¥1,096,238,079.65 in the same period last year[3] - Net profit attributable to shareholders was ¥81,990,935.83, down 29.82% from ¥116,836,671.73 year-on-year[3] - Basic and diluted earnings per share were both ¥0.3843, reflecting a decrease of 29.82% from ¥0.5476 in the previous year[3] - Total revenue for Q1 2025 was CNY 835,003,533.61, a decrease of 23.87% compared to CNY 1,096,238,079.65 in Q1 2024[16] - The net profit for Q1 2025 was CNY 82,852,170.37, a decrease of 28.8% compared to CNY 116,374,405.83 in Q1 2024[17] - The total comprehensive income for Q1 2025 was CNY 89,129,790.77, down from CNY 113,697,072.53 in Q1 2024, representing a decline of 21.5%[18] - The company's total revenue for Q1 2025 was ¥805,568,420.71, a decrease of 26.4% compared to ¥1,093,783,629.84 in Q1 2024[26] - The net profit for Q1 2025 was ¥82,523,558.20, down 30.1% from ¥118,022,865.92 in Q1 2024[27] Cash Flow and Assets - The net cash flow from operating activities increased by 36.74% to ¥909,628,640.68, primarily due to advance payments received for the Singapore VSMC project[6] - Cash and cash equivalents increased to CNY 3,348,938,374.90 as of March 31, 2025, up 34.83% from CNY 2,483,621,459.26 at the end of 2024[12] - Cash and cash equivalents at the end of Q1 2025 reached CNY 3,322,187,735.66, up from CNY 1,683,457,657.35 at the end of Q1 2024, indicating a growth of 97.4%[21] - The company's cash and cash equivalents at the end of Q1 2025 were ¥3,165,042,137.81, up from ¥1,506,410,665.25 at the end of Q1 2024, representing a growth of 109.0%[30] Assets and Liabilities - Total assets at the end of the reporting period were ¥4,957,390,786.98, an increase of 22.72% from ¥4,039,585,433.57 at the end of the previous year[4] - Total assets reached CNY 4,957,390,786.98, a growth of 22.73% compared to CNY 4,039,585,433.57 at the end of 2024[15] - Total liabilities increased to CNY 3,016,961,571.69, up 37.83% from CNY 2,189,645,964.88 at the end of 2024[14] - The total liabilities rose to ¥2,837,748,885.60 in Q1 2025, compared to ¥2,149,845,662.31 in Q1 2024, marking an increase of 31.9%[25] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 15,874[8] - The largest shareholder, 亚翔工程股份有限公司, holds 53.99% of the shares, totaling 115,200,000 shares[10] Research and Development - Research and development expenses for Q1 2025 were CNY 8,280,016.05, a decrease of 12.09% compared to CNY 9,419,841.38 in Q1 2024[16] - Research and development expenses for Q1 2025 were ¥8,280,016.05, a decrease of 12.1% from ¥9,419,841.38 in Q1 2024[26] Other Financial Metrics - The return on equity (ROE) decreased to 4.38%, down 3.49 percentage points from 7.87%[4] - The company reported a significant reduction in accounts payable, which decreased to CNY 1,357,998,732.48 from CNY 1,579,408,476.62[14] - The company experienced a net cash outflow from investing activities of CNY -50,955,015.78 in Q1 2025, compared to CNY -49,284,873.99 in Q1 2024[21] - The company's cash flow from investing activities for Q1 2025 was negative at -¥50,963,041.81, compared to -¥40,522,240.58 in Q1 2024[30] Future Outlook - The company has not disclosed any new product developments or market expansion strategies in this report[9] - The company will implement new accounting standards starting from 2025, which will involve adjustments to the financial statements at the beginning of the year[31]

附调研内容：1.公司认为关税问题是否影响公司的业务？答：亚翔集成作为系统集成工程建设企业，业 务不涉及对美出口且进口量极小，美国关税政策调整对公司影响有限。公司采用成本挂钩的定价机制， 可灵活调整报价策略以保障利润率，当前国际贸易环境变化对公司经营影响可控。在供应链方面，公司 材料和设备国产化率已达99%，仅少量客户指定进口高端设备。近年来，公司持续优化供应链布局，通 过与客户沟通减少进口依赖，有效增强了供应链稳定性，为应对国际贸易波动提供了有力支撑。公司将 继续聚焦工程服务领域，保持稳健发展态势。2、新加坡项目是否会持续高毛利率？海外市场的竞争情 况？答：首先，新加坡作为成熟市场，产业投资需求稳定但专业工程服务商相对有限，形成了良好的竞 争格局；其次，公司通过本地化运营团队与国际化管理体系的结合，实现了高效的资源整合与精准的成 本管控；再者，公司在新加坡市场已建立品牌口碑，具备承接优质项目的能力。未来，公司将继续发挥 工程管理优势，通过优化供应链、提升施工效率等措施维持合理利润水平，同时密切关注东南亚市场动 态，审慎评估新进入者带来的竞争变化，确保海外业务的可持续发展。3、公司感受到国内客户需求增 强，是否 ...

关于接待投资者调研情况的公告 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。 亚翔系统集成科技（苏州）股份有限公司于 2025 年 4 月11日通过现 场会议交流形式接待了投资者调研，现将有关主要调研情况公告如下： 一、 调研情况 调研时间： 2025 年 4 月 11 日 调研方式：现场会议交流 调研机构（排名不分先后）：华泰证券、国泰基金、华夏久盈、东北证券、 东吴证券、国信证券、宁银理财、淳厚基金、天风证券、中信证券、九富公关、 国金证券、广发证券、新华基金、九方智投、德汇集团、兴业证券、国海证券、 东方财富。 公司接待人员：CEO 执行长毛智辉，董事会秘书李繁骏，财务负责人王明 君，证券事务代表钱静波。 证券代码：603929 证券简称：亚翔集成 公告编号：2025-016 亚翔系统集成科技（苏州）股份有限公司 二、 调研交流主要内容及公司回复概要 1.公司认为关税问题是否影响公司的业务？ 答：亚翔集成作为系统集成工程建设企业，业务不涉及对美出口且进口量 极小，美国关税政策调整对公司影响有限。公司采用成本挂钩的 ...

Core Viewpoint - In 2024, Yaxiang Integrated achieved record-high revenue and net profit, driven by strong performance in engineering construction and effective cost management strategies [2][3]. Financial Performance - Yaxiang Integrated reported a total revenue of 5.381 billion yuan in 2024, representing a year-on-year increase of 68.09% [2][3]. - The net profit attributable to shareholders reached 636 million yuan, marking a year-on-year growth of 121.66% [2][3]. - The engineering construction segment generated 5.291 billion yuan in revenue, up 72.40% year-on-year, while equipment sales decreased by 35.33% to 65.8537 million yuan [3][5]. Profitability Metrics - The overall gross margin for 2024 was 13.55%, down from 14.17% in 2023, reflecting a decrease of 0.62 percentage points [5][7]. - The gross margin for the engineering construction business was 13.35%, a slight decrease of 0.12 percentage points year-on-year, while the equipment sales segment saw a more significant drop in gross margin to 23.03%, down 8.4 percentage points [5][7]. Regional Performance - Revenue from the domestic market was 3.038 billion yuan with a gross margin of 7.74%, down 5.68 percentage points from the previous year [7]. - The Singapore branch generated 2.282 billion yuan in revenue with a gross margin of 21.22%, an increase of 7.66 percentage points year-on-year [4][7]. - Revenue from Vietnam was 43.5444 million yuan, with a gross margin of 8.71%, down 63.24 percentage points compared to the previous year [7]. Client Concentration - Sales to the top five clients amounted to 4.723 billion yuan, accounting for 87.77% of total annual sales [8]. - The electronic industry, including IC semiconductors and optoelectronics, represented 99.15% of Yaxiang Integrated's main business revenue in 2024 [8].

证券代码：603929 证券简称：亚翔集成 公告编号：2025-015 亚翔系统集成科技（苏州）股份有限公司 2024 年年度股东大会决议公告 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。 重要内容提示： 本次会议是否有否决议案：无 一、 会议召开和出席情况 (一) 股东大会召开的时间：2025 年 4 月 8 日 (二) 股东大会召开的地点：苏州工业园区方达街 33 号会议室 (三) 出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： | 1、出席会议的股东和代理人人数 | 178 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 148,959,800 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股份总数 | 69.8161 | | 的比例（%） | | (四) 表决方式是否符合《公司法》及《公司章程》的规定，大会主持情况等。 本次股东大会由公司董事会召集，半数以上董事推选董事毛智辉先生主持，大会采用 现场投票和网络投票相结合的表决方式进行表决，会议的召开和 ...

股东大会法律意见书 北京海润天睿律师事务所 关于亚翔系统集成科技（苏州）股份有限公司 2024 年年度股东大会的法律意见书 中国·北京 朝阳区建外大街甲 14 号广播大厦 5/9/10/13/17 层 二〇二五年四月 股东大会法律意见书 北京海润天睿律师事务所 关于亚翔系统集成科技（苏州）股份有限公司 2024 年年度股东大会的法律意见书 致：亚翔系统集成科技（苏州）股份有限公司 3、本所及经办律师依据《中华人民共和国证券法》《律师事务所从事证券 法律业务管理办法》和《律师事务所证券法律业务执业规则》等规定及本法律意 见书出具日以前已经发生或者存在的事实，严格履行了法定职责，遵循了勤勉尽 责和诚实信用原则，进行了充分的核查验证，保证本法律意见所认定的事实真实、 准确、完整，所发表的结论性意见合法、准确，不存在虚假记载、误导性陈述或 者重大遗漏，并承担相应法律责任。 4、本法律意见书仅供公司本次会议之目的使用，不得用作任何其他用途。 本所律师同意将本法律意见书随公司本次会议决议一并公告。 北京海润天睿律师事务所（以下简称"本所"）接受亚翔系统集成科技（苏 州）股份有限公司（以下简称"公司"）的委托，指派吴团结、 ...

Core Viewpoint - Yaxiang Integrated (603929) has secured a significant project in Singapore, which is expected to enhance its international engineering capabilities and positively impact its operational performance [1] Company Announcement Summary - Yaxiang Integrated's Singapore branch has won the VSMC FACILITY SYSTEM project with a contract value of approximately 3.16 billion RMB (before tax) [1] - The project is located at TAMPINES INDUSTRIAL AVENUE 1/2 in Singapore and is expected to be completed by September 2027 [1] - The scope of the project includes mechanical air conditioning, electrical systems, plumbing, fire protection, automation, broadcasting, security monitoring, and other engineering services [1] - The new facility is projected to start mass production in 2027, with an expected monthly capacity of 55,000 wafers by 2029, focusing on mixed-signal, power management, and analog products for various markets [1] - Successful execution of this project will enhance the company's ability to undertake overseas engineering projects and improve its experience in international project collaboration [1]