证券代码：603958 证券简称：哈森股份 公告编号：2026-010 哈森商贸（中国）股份有限公司 关于发行股份购买资产并募集配套资金暨关联交易 事项的进展公告 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、本次交易的基本情况 哈森商贸（中国）股份有限公司（以下简称"公司"）拟以发行股份方式购 买苏州郎克斯精密五金有限公司（以下简称"苏州郎克斯"）45%股权，同时拟发 行股份并募集配套资金（以下简称"本次交易"）。 本次交易预计不构成《上市公司重大资产重组管理办法》规定的重大资产重 组，本次交易不会导致公司实际控制人发生变更，不构成重组上市。 二、本次交易的进展情况 公司因筹划本次交易，根据《上海证券交易所股票上市规则》等相关规定， 经公司向上海证券交易所申请，公司股票于 2024 年 12 月 12 日开市起停牌，并 于 2024 年 12 月 13 日开市起继续停牌，停牌时间不超过 10 个交易日。具体内容 详见公司于 2024 年 12 月 13 日在上海证券交易所网站（www.sse.com.cn）披露 的《关 ...

Core Viewpoint - The article discusses the potential benefits for various industries following the announcement of infrastructure support for Taiwan by the mainland after peaceful reunification [4]. Group 1: Companies with Taiwanese Capital Background - Companies such as Harsen Co., Seagull Construction, Xinyin Electronics, Jiaheng Home, Songlin Technology, and Shitou Co. are identified as having Taiwanese capital backgrounds [5]. Group 2: Deeply Integrated Supply Chain Companies - Companies like Fuman Micro, Haozhi Electromechanical, Dingjia Precision, Anhui Phoenix, Honghe Technology, Nanjiao Food, and Beiqing Song are noted for their deep integration with Taiwanese enterprises [5]. Group 3: Core Enterprises in Fujian's Cross-Strait Integration - Key companies in Fujian that are part of the cross-strait integration include Xiamen Tungsten, Jinlong Automobile, Qingyuan Co., Jindawei, Zhongmin Energy, Antong Holdings, Huichuan Beer, Shennong Development, Longgao Co., and Zhuoyue New Energy [5]. Group 4: Other Regional Companies Complementing or Competing with Taiwan - Companies such as Zhenhua Heavy Industry, Yuanzu Co., Qianwei Yangchun, Haoxiangni, Zhimo Yu, Jiangyan Group, Jinyi Industry, and Aerospace Development are recognized for their complementary or competitive relationships with Taiwanese industries [5].

Summary of Key Points from the Conference Call Industry Overview: 3D Printing - The 3D printing industry is experiencing a significant transformation driven by advancements in titanium powder production methods, transitioning from traditional gas atomization to hydrogenation-dehydrogenation and spheroidization, resulting in substantial improvements in powder yield and cost [1] - The average price of titanium powder has decreased by 95% over the past 8-10 years, with mid-term projections estimating prices to be between 100-150 RMB/kg, approaching the price levels of stainless steel and aluminum alloy powders [1] Key Insights - Major titanium powder manufacturers are planning to expand production capacity by nearly 10 times by 2026, indicating strong growth potential in the industry [1] - The efficiency of 3D printers is expected to improve significantly due to three factors: enhanced laser printing efficiency, increased number of laser heads in printers, and larger sizes of printer components, which will lead to a drastic reduction in manufacturing costs [1] Market Demand and Opportunities - The shipment volume of 3D printing equipment from leading players is anticipated to increase by over 5 times [2] - Global 3C (computer, communication, consumer electronics) clients are accelerating the integration of 3D printed titanium alloys in precision components such as foldable smartphone hinges, titanium alloy frames, and smart wearable devices [2] - There is a growing clarity in demand for 3D printed titanium alloys for next-generation products from North American clients, suggesting that 3D printing equipment may secure unexpectedly large orders [2] Investment Recommendations - Key companies to focus on include Huazhu High-Tech, Dazhong Laser, Feiwo Technology, Harsen Co., Yibang Co., and Bolite [2]

Summary of Conference Call Notes Industry Overview - The global 3D printing market is projected to reach $21.9 billion in 2024, with an expected compound annual growth rate (CAGR) of 18% over the next decade, potentially exceeding $114.5 billion by 2034 [1][1][1] - Traditional manufacturing processes are nearing their limits, unable to meet demands for heat dissipation and lightweight materials, necessitating advancements in 3D printing technology [1][1][1] Key Insights - The demand for 3D printed titanium alloy components is rapidly increasing, particularly among major smartphone manufacturers such as Apple, Honor, and Huawei, who are adopting 3D printing for precision parts like foldable phone hinges and titanium alloy frames [1][1][1] - The cost of manufacturing a smartphone mid-frame using traditional methods is approximately $200. If 3D printing can reduce this cost by 50% to $100, the market potential is substantial, especially considering leading smartphone manufacturers produce around 200 million units annually [2][2][2] Investment Recommendations - Key companies to focus on include Huazhu High-Tech, Dazong Laser, Feiwo Technology, Yinbang Co., Platinum Power, and Harsen Co. [2][2][2]

证券代码：603958 证券简称：哈森股份 公告编号：2026-009 哈森商贸（中国）股份有限公司 关于发行股份购买资产并募集配套资金暨关联交易 事项的进展公告 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、本次交易的基本情况 哈森商贸（中国）股份有限公司（以下简称"公司"）拟以发行股份方式购 买苏州郎克斯精密五金有限公司（以下简称"苏州郎克斯"）45%股权，同时拟发 行股份并募集配套资金（以下简称"本次交易"）。 本次交易预计不构成《上市公司重大资产重组管理办法》规定的重大资产重 组，本次交易不会导致公司实际控制人发生变更，不构成重组上市。 除上述进展情况之外，按照相关规定，公司分别于 2025 年 1 月 25 日、2 月 25 日、3 月 27 日、4 月 26 日、5 月 27 日、6 月 26 日、7 月 26 日、8 月 26 日、 9 月 26 日、10 月 27 日、11 月 26 日、12 月 26 日、2026 年 1 月 27 日披露了本 次交易事项的进展公告（公告编号：2025-003、 202 ...

Core Viewpoint - The company plans to issue shares to acquire a 45% stake in Suzhou Langkes and simultaneously raise supporting funds through share issuance [1] Group 1 - The company's stock will be suspended from trading starting December 12, 2024, and will resume trading on December 26, 2024 [1] - On December 14, 2025, the company will adjust its transaction plan to reduce the acquisition of 100% stake in Chenling Optics [1] - As of the announcement date, due diligence, auditing, and evaluation related to the transaction are not yet completed and require decisions from relevant parties, board approval, shareholder meeting approval, and regulatory agency approval [1]

Group 1 - The core point of the article is that Hason Co., Ltd. (stock code: sh603958) reached its daily limit with a price of 20.75 yuan, reflecting a 10.02% increase, and a total market capitalization of 4.552 billion yuan, driven by factors such as equity acquisition, business transformation, and reduced losses [1] Group 2 - The company recently announced the acquisition of 45% equity in Suzhou Langkes, which is expected to significantly enhance its performance with a projected net profit of 47.5585 million yuan in 2024, contributing to the stock price surge [1] - Hason is undergoing a critical business transformation, expanding into emerging fields such as precision hardware, consumer electronics, and 3D printing, which diversifies its risk and improves its industry chain layout, attracting investor interest [1] - The company anticipates a net loss of 24 to 36 million yuan in 2025, a significant reduction from the 96.4 million yuan loss in 2024, indicating an improvement in operational performance and sending a positive signal to the market [1]

Core Viewpoint - Hason Co., Ltd. (603958) has experienced a recent stock price correction due to multiple factors, including regulatory warnings from information disclosure violations, underperformance of acquisition targets, and profit-taking by market participants [1] Information Disclosure Violations - On January 27, 2026, Hason disclosed information regarding its "3D printing" and "consumer electronics" businesses on an interactive platform but failed to adequately highlight associated risks. For instance, the 3D printing business generated only 2.67 million yuan in revenue for 2025, accounting for less than 0.2% of total revenue, and products like titanium powder have not yet generated sales revenue. The incomplete disclosure and insufficient risk warnings led the Shanghai Stock Exchange to issue a regulatory warning letter to the company and its secretary in early February [2] Company Status - The acquisitions of Suzhou Langke and Jiangsu Langxun in 2024 did not meet their first-year performance targets. Suzhou Langke achieved a net profit of 46.97 million yuan, with a completion rate of 91.38%, while Jiangsu Langxun's net profit was only 41,190 yuan, with a completion rate of just 4.97%. Additionally, Suzhou Langke's gross margin dropped to 23.20% in 2025, a year-on-year decline of 5.19 percentage points, indicating pressure on profit quality. This has intensified market skepticism regarding the effectiveness of cross-industry mergers in improving performance [3] Funding Situation - From January 26 to February 6, 2026, Hason's stock price increased by 59.68%, with consecutive trading halts on January 28 and 29. Following this significant short-term increase, some investors opted to take profits, resulting in a stock price correction of 11.17% from February 9 to 13. Trading volume also decreased, with a transaction amount of 152 million yuan on February 13, down 59% from 371 million yuan on February 9, reflecting a cooling of market participation [4] Current Operating Status - Despite revenue growth driven by cross-industry mergers (with a year-on-year increase of 86.36% in revenue for the first three quarters of 2025), the footwear business continues to incur losses. The company expects a net loss attributable to shareholders of between 24 million and 36 million yuan for 2025, marking the sixth consecutive year of losses. The number of stores has decreased from 1,305 at the beginning of 2021 to 821 by the third quarter of 2025, with inventory reaching 425 million yuan, indicating ongoing impairment pressure [5] Restructuring Progress - In December 2025, the company terminated its acquisition of 100% equity in Chenling Optics due to valuation disagreements, retaining only the plan to acquire 45% of Suzhou Langke. This adjustment has been interpreted by the market as an increase in resistance to cross-industry transformation, diminishing investor expectations for business synergy [6]

Core Viewpoint - Hason Co., Ltd. (603958.SH) has experienced a significant stock price increase, with a rise of 59.68% from January 26 to February 6, 2024, attributed to disclosures about its ventures into 3D printing and consumer electronics, although the accuracy of these disclosures has been questioned by regulators [1][11][12]. Group 1: Stock Performance and Market Reaction - On February 6, 2024, Hason's stock price reached a peak of 21.94 CNY per share, marking an increase of 8.67% for the day [1]. - The stock experienced a trading halt due to a cumulative price deviation of 20% over two consecutive trading days on January 28 and 29, prompting the company to issue an announcement regarding abnormal trading fluctuations [1][11]. - The surge in stock price is closely linked to the company's announcements regarding its new business directions, particularly in 3D printing and consumer electronics, which have attracted market interest [11][12]. Group 2: Business Operations and Financial Performance - Hason has been facing continuous losses, with a projected cumulative loss of approximately 340 million CNY by 2025, marking five consecutive years of negative net profit since 2020 [6][17]. - The company has initiated a cross-industry transformation, including acquisitions to diversify its business, such as the purchase of 45% of Suzhou Langkes and 55.2% of Jiangsu Langxun for a total of 358 million CNY [8][19]. - Despite the acquisitions, the actual net profits for 2024 from these entities fell short of commitments, with Suzhou Langkes achieving 46.97 million CNY (91.38% of the target) and Jiangsu Langxun only reaching 0.41 million CNY (4.97% of the target) [20]. Group 3: Regulatory and Disclosure Issues - The Shanghai Stock Exchange has issued warnings to Hason for "selective disclosure" of information that may mislead investors, emphasizing the need for timely and accurate communication [5][15]. - The company has been criticized for not fully disclosing the actual performance and potential risks associated with its new business ventures, particularly in 3D printing, which is projected to generate only 2.67 million CNY in revenue by 2025, accounting for less than 0.2% of total revenue [3][14]. - Hason's management has acknowledged that the new business lines have not yet significantly impacted the company's core operations, and the future profitability remains uncertain [12][14].

证券代码：603958 证券简称：哈森股份 公告编号：2026-008 担保对象及基本情况 | | | 被担保人名称 本次担保金额 | 2,000.00 | 江苏郎克斯智能工业科技有限公司 万元 | | | --- | --- | --- | --- | --- | --- | | 担 象 | 保 对 | 实际为其提供的担保余额 | 9,304.30 | 万元 | | | | | 是否在前期预计额度内 | 是 | □否 | □不适用：_________ | | | | 本次担保是否有反担保 | □是 | 否 | □不适用：_________ | 累计担保情况 | 截至本公告日上市公司及其控股 子公司对外担保总额（万元） | 39,800.00 | | --- | --- | | 对外担保总额占上市公司最近一 | 56.30 | | 期经审计净资产的比例（%） | □对外担保总额超过最近一期经审计净资产 | | 100% | □担保金额超过上市公司最近一期经审计净 | | 资产 特别风险提示（如有请勾选） | 50% | | | □对合并报表外单位担保金额达到或超过最 | | | 近一期经审计净资产 30% ...