Core Viewpoint - The stock of Xianheng International (605056) has shown a decline in price and mixed capital flow trends, indicating potential volatility in investor sentiment and market performance [1][2]. Group 1: Stock Performance - As of December 8, 2025, Xianheng International closed at 19.7 yuan, down 0.66%, with a turnover rate of 1.09% and a trading volume of 43,900 lots, amounting to a transaction value of 86.15 million yuan [1]. - Over the past five days, the stock has experienced fluctuations, with a notable increase of 3.88% on December 5, followed by a decline on December 8 [2]. Group 2: Capital Flow Analysis - On December 8, 2025, the net outflow of main funds was 1.69 million yuan, accounting for 1.96% of the total transaction value, while retail investors saw a net outflow of 502.22 million yuan, representing 5.83% of the total [1][2]. - In contrast, speculative funds recorded a net inflow of 6.71 million yuan, making up 7.79% of the total transaction value on the same day [1][2]. Group 3: Financial Metrics and Industry Comparison - Xianheng International's total market value is 8.083 billion yuan, with a net asset of 1.708 billion yuan and a net profit of 128 million yuan, ranking 12th in the industry [3]. - The company reported a year-on-year revenue increase of 35.47% for the first three quarters of 2025, with a net profit growth of 32.45% [3]. - The company's gross margin stands at 22.16%, significantly lower than the industry average of 41.76%, indicating potential areas for improvement [3]. Group 4: Analyst Ratings - In the last 90 days, six institutions have rated the stock as a buy, with an average target price of 22.36 yuan [4].

证券代码：605056 证券简称：咸亨国际 公告编号：2025-089 咸亨国际科技股份有限公司 关于回购注销部分限制性股票通知债权人的公告 销将按法定程序继续实施。公司债权人如要求公司清偿债务或提供相应担保的， 应根据《中华人民共和国公司法》等相关法律法规的有关规定向公司提出书面要 求，并随附有关证明文件。 债权申报所需材料：公司债权人可持证明债权债务关系存在的合同、协议及 其他凭证的原件及复印件到公司申报债权。债权人为法人的，需同时携带法人营 业执照副本原件及复印件、法定代表人身份证明文件；委托他人申报的，除上述 文件外，还需携带法定代表人授权委托书和代理人有效身份证的原件及复印件。 债权人为自然人的，需同时携带有效身份证的原件及复印件；委托他人申报的， 除上述文件外，还需携带授权委托书和代理人有效身份证件的原件及复印件。 债权申报具体方式如下： （一）债权申报登记地点：浙江省杭州市拱墅区星璜巷 101 号咸亨科技大厦 （二）申报时间：2025 年 12 月 9 日起 45 日内（9:00-12:00，13:30-17:30， 双休日及法定节假日除外） （三）联系人：叶兴波、张满 本公司董事会及全体董事保 ...

证券代码：605056 证券简称：咸亨国际 公告编号：2025-088 咸亨国际科技股份有限公司 2025年第七次临时股东会决议公告 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)股东会召开的时间：2025 年 12 月 8 日 (二)股东会召开的地点：浙江省杭州市拱墅区星璜巷 101 号咸亨科技大厦。 1、 议案名称：《关于减少注册资本及修订<公司章程>并办理工商变更登记的议 案》 审议结果：通过 表决情况： (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 | 103 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 286,537,338 | | 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 | 69.8390 | | 份总数的比例（%） | | (四)表决方式是否符合《公司法》及《公司章程》的规定，会议主持情况等。 本次会议由公司董事会召集， ...

北京市中伦（上海）律师事务所 关于咸亨国际科技股份有限公司 2025 年第七次临时股东会的 法律意见书 二〇二五年十二月 法律意见书 北京市中伦（上海）律师事务所 关于咸亨国际科技股份有限公司 2025 年第七次临时股东会的 法律意见书 致：咸亨国际科技股份有限公司（以下简称"公司"） 北京市中伦（上海）律师事务所（以下简称"本所"）接受公司的委托，指 派律师出席并见证公司2025年第七次临时股东会（以下简称"本次会议"）。 本所律师根据《中华人民共和国公司法》（以下简称"《公司法》"）、《中 华人民共和国证券法》（以下简称"《证券法》"）、《上市公司股东会规则》 （以下简称"《股东会规则》"）、《律师事务所从事证券法律业务管理办法》 （以下简称"《证券法律业务管理办法》"）、《律师事务所证券法律业务执业 规则（试行）》（以下简称"《证券法律业务执业规则》"）等相关法律、行政 法规、规章、规范性文件及《咸亨国际科技股份有限公司章程》（以下简称"《公 司章程》"）的规定，就本次会议的召集与召开程序、召集人资格、出席会议人 员资格、会议表决程序及表决结果等事宜，出具本法律意见书。 - 1 - 法律意见书 2．本所 ...

Investment Rating - The report assigns a "Buy" rating for the company, marking its first coverage [2][5]. Core Insights - The company is positioned to benefit from the MRO (Maintenance, Repair, and Operations) procurement wave, leveraging its established market presence and expanding into various sectors [2][19]. - The MRO industry in China is entering a significant growth phase, with a projected increase in procurement efficiency and a shift towards centralized and digitalized purchasing [3][42]. - The company has a strong market position in the MRO supply chain for state-owned enterprises, with anticipated revenue growth and margin improvements in the coming years [5][7]. Summary by Sections Company Overview - The company has a total share capital of 410.28 million shares and a market capitalization of approximately 8,135.90 million yuan [1]. - It has established a comprehensive MRO service network, providing over 150,000 SKUs to more than 40,000 industry clients [3][19]. Financial Analysis - The company’s revenue is projected to grow from 2,928 million yuan in 2023 to 6,590 million yuan by 2027, reflecting a compound annual growth rate (CAGR) of approximately 25% [2][5]. - The net profit attributable to shareholders is expected to increase from 97 million yuan in 2023 to 464 million yuan by 2027, with significant growth rates in the coming years [2][5]. Industry Perspective - The MRO industry in China is still in its early stages, with a penetration rate below 1%, indicating substantial growth potential as companies seek to reduce costs and improve efficiency [3][42]. - The report highlights that the MRO market in China could reach a procurement scale of approximately 9.2 trillion yuan by 2024, driven by the increasing demand for centralized suppliers [3][42]. Growth Strategy - The company is expanding both horizontally and vertically, aiming to enhance its service offerings and deepen its market penetration in various sectors, including energy and transportation [4][7]. - The strategic focus includes developing high-margin services and products, such as drone technology and integrated solutions, to meet the evolving needs of its clients [4][7].

Group 1 - The conference focused on the innovative applications of artificial intelligence and robotics in the supply chain sector, aiming to explore the practical paths for technology-driven industrial upgrades [1] - Xianheng International showcased its smart inspection robot dog, which has been developed to enhance operational efficiency in various fields such as nuclear power, electricity generation, and emergency response [1] - The company has accumulated over ten years of data in cable fault handling, having served clients 13,560 times and conducted 3,029 real-site tests, with 1,936 case reports generated [1] Group 2 - Xianheng International is building its core capabilities around a three-layer architecture of "perception-decision-execution," utilizing self-developed technologies for visualizing equipment hazards and AI models to enhance diagnostic efficiency by over 80% [2] - The company aims to create a closed-loop intelligent ecosystem and plans to increase technological investments, targeting the development of approximately 20 application scenarios for special robots or robot dogs next year [2] - The potential market for humanoid robots in manufacturing and domestic services in China and the U.S. is projected to reach 300 billion yuan by 2030, highlighting the significant growth opportunities in the embodied intelligence sector [3]

Core Insights - The conference held by the China Logistics and Purchasing Federation focused on the innovative applications of artificial intelligence and robotics in the supply chain sector, aiming to explore the practical paths for technology-driven industrial upgrades [5] - Xianheng International showcased its smart inspection robot dog, which attracted significant attention from attendees, highlighting the company's commitment to technological innovation in the industry [5] Company Overview - Xianheng International has over 30 years of experience in the industry and serves as a national MRO centralized supplier, providing comprehensive products, services, and solutions primarily in the energy, transportation, and emergency sectors [5] - The company has accumulated extensive data in cable fault handling, with 13,560 service instances and 3,029 real-site tests conducted to date, demonstrating its capability in the field [5] Technological Development - The company is focusing on the development of robotic applications, particularly in nuclear power, electricity generation, high-speed rail, and emergency response, indicating a broad market potential [5] - Xianheng International is building core capabilities around a three-layer architecture of "perception-decision-execution," utilizing self-developed technologies and AI models to enhance operational efficiency [6] Industry Trends - The company plans to increase its technological investments and develop approximately 20 application scenarios for specialized robots or robot dogs in the coming year [8] - The report presented at the forum highlighted the macro trends and core tracks of the embodied intelligence industry, predicting a potential market space of around 300 billion yuan in humanoid robots for manufacturing and domestic services in China and the U.S. by 2030 [8]

证券之星消息，截至2025年12月4日收盘，咸亨国际(605056)报收于19.09元，上涨2.47%，换手率 0.99%，成交量4.0万手，成交额7583.06万元。 12月4日的资金流向数据方面，主力资金净流入732.52万元，占总成交额9.66%，游资资金净流出330.87 万元，占总成交额4.36%，散户资金净流出401.65万元，占总成交额5.3%。 近5日资金流向一览见下表： 该股最近90天内共有5家机构给出评级，买入评级5家；过去90天内机构目标均价为22.36。 资金流向名词解释：指通过价格变化反推资金流向。股价处于上升状态时主动性买单形成的成交额是推 动股价上涨的力量，这部分成交额被定义为资金流入，股价处于下跌状态时主动性卖单产生的的成交额 是推动股价下跌的力量，这部分成交额被定义为资金流出。当天两者的差额即是当天两种力量相抵之后 剩下的推动股价上升的净力。通过逐笔交易单成交金额计算主力资金流向、游资资金流向和散户资金流 向。 注：主力资金为特大单成交，游资为大单成交，散户为中小单成交 该股主要指标及行业内排名如下： 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备31010434 ...

Core Viewpoint - As of December 2, 2025, Xianheng International (605056) closed at 18.99 yuan, down 1.71%, with a trading volume of 52,500 lots and a transaction value of 99.192 million yuan [1] Group 1: Stock Performance - On December 2, 2025, the net outflow of main funds was 2.68% of the total transaction value, while retail investors experienced a net outflow of 9.61% [1] - Over the past five days, the stock has shown fluctuations in net fund flows, with notable changes in both main and retail investor activities [2] Group 2: Financial Metrics - Xianheng International's total market value is 7.791 billion yuan, with a net asset value of 1.708 billion yuan and a net profit of 128 million yuan [3] - The company reported a year-on-year revenue increase of 35.47% for the first three quarters of 2025, with a third-quarter revenue of 1.111 billion yuan, up 38.02% year-on-year [3] - The company's gross profit margin stands at 22.16%, which is significantly lower than the industry average of 41.76% [3] Group 3: Industry Ranking - In the instrument and meter industry, Xianheng International ranks 12th in net profit and 13th in return on equity (ROE) [3] - The company's price-to-earnings ratio (P/E) is 45.58, placing it 23rd in the industry ranking [3] Group 4: Analyst Ratings - In the last 90 days, four institutions have given a buy rating for the stock, with an average target price of 22.36 yuan [4]

证券代码：605056 证券简称：咸亨国际 公告编号：2025-087 咸亨国际科技股份有限公司 关于5%以上股东减持结果公告 ● 减持计划的实施结果情况 截至2025年11月28日，高盛亚洲战略在减持计划实施期间通过集中竞价交易方式减持公司股份4,099,972 股，通过大宗交易方式减持股份8,200,000股，合计减持12,299,972股，占公司目前总股本的2.9979%， 本次减持股份实施后，高盛亚洲战略持有公司流通股10,706,534股，占公司目前总股本的2.6096%。高 盛亚洲战略本次减持计划已实施完毕。 一、减持主体减持前基本情况 ■ 注：持股比例按2025年8月7日总股本计算。 本公司董事会、全体董事及相关股东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： ● 大股东的基本情况 本次减持计划实施前，股东GOLDMAN SACHS ASIA STRATEGIC PTE. LTD.（以下简称"高盛亚洲战 略"）持有咸亨国际科技股份有限公司（以下简称"公司"）无限售流通股份23,006,506股，占公司总股本 的5.6 ...