Core Viewpoint - Ningbo Deye Technology Co., Ltd. plans to increase its foreign exchange hedging business limit for 2025 from $1.5 billion to $3 billion to mitigate foreign exchange and interest rate risks as its overseas business expands and foreign currency settlements increase [1][2]. Group 1: Business Strategy and Expansion - The company is expanding its overseas business and primarily using foreign currencies for settlements, leading to an increase in foreign exchange income and expenditure [1]. - The decision to increase the hedging limit is driven by the need to manage the growing foreign exchange risk due to fluctuating international conditions [1]. Group 2: Approval Process - The increase in the foreign exchange hedging business limit has been approved by the company's board and supervisory board but requires final approval from the shareholders' meeting [2]. - The relevant meetings for approval were held on April 28, 2025, and August 25, 2025, with the final shareholder meeting scheduled for May 21, 2025 [2]. Group 3: Risk Management Measures - The company has established an internal control management system for foreign exchange hedging, outlining management principles, approval authority, and operational processes to mitigate risks [3]. - The company will use simple, liquid, and market-recognized trading tools and collaborate with reputable financial institutions to reduce transaction risks [3]. - The hedging activities are based on actual business conditions and aim to prevent and mitigate foreign exchange risks, with strict internal approval procedures in place [3].

宁波德业科技股份有限公司2025 年半年度报告摘要 公司代码：605117 公司简称：德业股份 | | 第二节 公司基本情况 | | | | | --- | --- | --- | --- | --- | | | 公司股票简况 | | | | | 股票种类 | 股票上市交易所 | 股票简称 | 股票代码 | 变更前股票简称 | | A股 上海证券交易所 | | 德业股份 | 605117 无 | | | 联系人和联系方式 | | 董事会秘书 | 证券事务代表 | | | 姓名 | | 刘书剑 | 郑超琦 | | | 电话 | | 0574-86222335 | 0574-86222335 | | | 办公地址 | 浙江省宁波市北仑区大碶甬江 | | | 浙江省宁波市北仑区大碶甬江 | | | 宁波德业科技股份有限公司2025 | | 年半年度报告摘要 | | | | | 南路26号 | | 南路26号 | | 电子信箱 | | stock@deye.com.cn | | stock@deye.com.cn | | | | | | 单位：元 币种：人 | | 民币 | | | | | | | | | | 本报告 ...

Core Viewpoint - Ningbo Deye Technology Co., Ltd. reported a significant increase in revenue and net profit for the first half of 2025, driven by strong demand in the photovoltaic and energy storage sectors, while also announcing a cash dividend distribution plan for shareholders [1][2][3]. Financial Performance - The company's operating revenue for the first half of 2025 reached RMB 5,535,465,365.91, a 16.58% increase compared to RMB 4,748,194,445.57 in the same period last year [2][3]. - The total profit amounted to RMB 1,736,648,078.55, reflecting a 23.14% increase from RMB 1,410,310,331.13 year-on-year [2][3]. - Net profit attributable to shareholders was RMB 1,522,164,569.91, up 23.18% from RMB 1,235,683,828.04 in the previous year [2][3]. - The company plans to distribute a cash dividend of RMB 1.108 per share, totaling approximately RMB 1,000,015,340.47, which represents 65.70% of the net profit for the period [1][2]. Industry Overview - The company operates in the electrical machinery and equipment manufacturing industry, focusing on the photovoltaic sector and home appliances, including dehumidifiers [3][4]. - The global inverter market is projected to reach RMB 66.3 billion by 2025, with an expected shipment volume of 570 GW, driven by increasing adoption of renewable energy and supportive policies [4][5]. - The energy storage market is anticipated to become a second growth driver, with significant demand emerging from commercial and industrial sectors due to policy support and peak-valley price differences [4][5]. Product Development and Market Strategy - The company has developed a comprehensive product matrix covering energy storage, string, and micro-inverters, positioning itself as a leader in the inverter market [3][4]. - New product launches include off-grid storage inverters and integrated solutions that enhance flexibility and reduce costs by 30% [5][6]. - The company actively participates in international exhibitions and regional roadshows to promote its brand and products, reaching over 110 countries and regions [5][6]. Operational Highlights - The company sold a total of 763,800 inverters in the first half of 2025, with household storage inverters accounting for 272,700 units and commercial storage for 42,900 units, marking an 85.80% increase year-on-year [5][6]. - The company’s cash flow from operating activities was RMB 1,515,942,460.28, a 14.63% increase from the previous year [2][3]. - The total assets of the company reached RMB 18,568,024,806.26, a 22.85% increase compared to the previous year [2][3].

Group 1 - The board of directors of Ningbo Deye Technology Co., Ltd. held a meeting on August 25, 2025, with all 7 directors present, achieving the quorum required by the Company Law and the Articles of Association [1] - The meeting approved all agenda items through written voting, including the 2025 semi-annual report and its summary, with a unanimous vote of 7 in favor [2][3] Group 2 - The board approved a special report on the use of raised funds as of June 30, 2025, which was also disclosed on the Shanghai Stock Exchange [2] - A profit distribution plan was approved, proposing a cash dividend of RMB 1.108 per share, with a total distributable profit of RMB 1,080,464,545.57 as of June 30, 2025 [2] Group 3 - The board approved the reappointment of the accounting firm, which will also be submitted to the shareholders' meeting for approval [3][4] - A proposal to increase the foreign exchange hedging business limit for 2025 from USD 1.5 billion to USD 3 billion was approved to mitigate exchange rate risks [4] Group 4 - The board approved the draft of the 2025 Employee Stock Ownership Plan (ESOP) to enhance the company's operational mechanism and align the interests of shareholders, the company, and employees [6][7] - The management measures for the 2025 ESOP were also approved to ensure effective implementation [8] Group 5 - The board proposed to authorize the board to handle matters related to the 2025 ESOP, including establishment, changes, and termination of the plan [9] - An evaluation report on the "Quality Improvement and Efficiency Enhancement" action plan for 2024 was approved [9] Group 6 - The company decided to hold the first extraordinary shareholders' meeting of 2025, with details to be announced later [9]

证券代码：605117 证券简称：德业股份 公告编号：2025-076 宁波德业科技股份有限公司 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 根据《中华人民共和国公司法》（以下简称"《公司法》"）等有关法律法 规及《宁波德业科技股份有限公司章程》 （以下简称"《公司章程》"）的规定， 宁波德业科技股份有限公司（以下简称"公司"）于 2025 年 8 月 25 日上午 10 时在公司 9 楼会议室召开第三届监事会第十五次会议。本次会议于 2025 年 8 月 监事来二航、乐飞军、乐静娜参加了本次会议，会议达到了《公司法》和《公司 章程》规定的召开监事会法定监事人数。 本次会议由来二航先生主持，公司董事会秘书列席了会议。会议的召开符合 《公司法》《公司章程》及其他有关法律、法规的规定，形成决议合法有效。 二、 监事会会议审议情况 本次会议以现场表决的方式，审议并通过全部议案，形成如下决议： （一）审议通过《2025 年半年度报告及其摘要》 经核查，公司 2025 年半年度报告的编制和审议程序符合 ...

Fundraising Overview - The company raised a total of RMB 1,999,175,984.31 through the issuance of 35,997,120 shares at a price of RMB 55.56 per share, with net proceeds after expenses amounting to RMB 1,991,750,984.31 [1][2] - As of June 30, 2025, the balance in the fundraising account was RMB 84,649,625.21 after various expenditures and investments [1][2] Fund Utilization - The company has utilized RMB 337,207,927.30 for project expenditures, with RMB 181,008,939.70 spent in the first half of 2025 [1][2] - A significant portion of the funds, RMB 1,790,000,000.00, was allocated to financial products, with RMB 1,050,000,000.00 recovered from these investments [1][2] Fund Management - The company has established a management system for fundraising in compliance with relevant laws and regulations, ensuring proper storage, utilization, and supervision of the funds [1][2] - Multiple banks have been engaged for the storage of funds, with specific agreements in place to ensure compliance with regulatory requirements [1][2] Investment Projects - The company is focused on the construction of a production line for string and energy storage inverters, with a planned capacity of 25.5 GW, expected to be operational by the end of 2025 [3] - As of June 30, 2025, the cumulative investment progress for this project was 46.24%, impacted by market conditions and industry dynamics [3] Cash Management - The company has approved the temporary use of idle fundraising for cash management, with a limit of RMB 800,000,000.00 for safe and liquid financial products [2][3] - Various structured deposits have been utilized for cash management, with specific amounts and durations detailed in the report [2][3]

| 证券代码：605117 公告编号：2025-079 证券简称：德业股份 | | | --- | --- | | 宁波德业科技股份有限公司 | | | 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。 | | | 重要内容提示： | | | ? 拟续聘的会计师事务所名称：立信会计师事务所（特殊普通合伙） | | | （以下 | | | 简称"立信会所"） | | | 一、拟续聘会计师事务所的基本情况 | | | （一）机构信息 | | | 事务所名称 立信会计师事务所（特殊普通合伙） | | | 特殊普通合伙企 | | | 成立日期 2010年 组织形式 | | | 业 | | | 注册地址 上海市黄浦区南京东路61号四楼 | | | 首席合伙人 朱建弟、杨志国 上年末合伙人数量 | 296名 | | 注册会计师 2,498名 | | | 上年末执业人员数量 | | | 签署过证券服务业务审计报告的注册会计师 | 743名 | | 业务收入总额 47.48亿元 | | | 15.05亿元 证券业务收入 | | ...

Core Viewpoint - The company plans to increase the foreign exchange hedging business limit for 2025 to enhance financial stability and risk management due to the expansion of overseas operations and increasing foreign currency transactions [1][4]. Group 1: Background of Foreign Exchange Hedging - The company is expanding its overseas business and facing increased foreign exchange risks due to unpredictable international conditions [1]. - The need for effective foreign exchange risk management has grown as the scale of foreign exchange income and expenditure continues to rise [1]. Group 2: Proposed Foreign Exchange Hedging Business Details - The proposed hedging limit will increase from an equivalent of $1.5 billion to an amount not exceeding the limit approved by the shareholders' meeting [1]. - The funding for this hedging will come from the company's own funds and will not involve raised capital [1]. - The hedging methods include forward foreign exchange contracts, foreign exchange swaps, foreign exchange options, interest rate swaps, interest rate options, and other foreign exchange derivatives [1]. Group 3: Transaction Duration - The hedging activities will be conducted within 12 months from the date of approval by the shareholders' meeting [2]. Group 4: Risk Analysis - The company will adhere to legal, prudent, safe, and effective principles in conducting hedging activities, avoiding speculative or arbitrage transactions [2]. - Risks include exchange rate risk, internal operational risk, and counterparty default risk [2]. Group 5: Risk Control Measures - The company has established clear management principles, approval authority, and internal operational processes to effectively control risks associated with foreign exchange hedging [2]. - The company will collaborate with financially stable and reputable financial institutions approved by the People's Bank of China [2]. Group 6: Accounting Policies and Principles - The company will follow relevant accounting standards for the recognition and measurement of financial instruments and hedge accounting [3]. Group 7: Feasibility Conclusion - The decision to increase the hedging limit is based on the company's global business strategy and the increasing proportion of foreign exchange [4]. - The hedging activities will not involve raised funds or speculative trading, ensuring normal cash flow for daily operations [4].

证券简称：德业股份 证券代码：605117 宁波德业科技股份有限公司 （草案）摘要 二〇二五年八月 声明 宁波德业科技股份有限公司 2025 年员工持股计划（草案）摘要 本公司及公司董事会全体成员保证本员工持股计划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、完整性承担个别及 连带的法律责任。 宁波德业科技股份有限公司 2025 年员工持股计划（草案）摘要 准后方可实施，本员工持股计划能否获得公司股东大会批准，存在不确定性。 股票规模等要素存在不确定性。 工认购资金较低时，本员工持股计划存在无法成立的风险；若员工认购资金不 足，本员工持股计划存在低于预计规模的风险。 环境的变化、行业景气度的波动、市场竞争加剧等原因的影响，也可能存在业 绩无法达成的风险。本员工持股计划中有关公司业绩考核指标的描述不代表公 司的业绩预测，亦不构成业绩承诺。 意投资风险。 宁波德业科技股份有限公司 2025 年员工持股计划（草案）摘要 特别提示 简称"本员工持股计划"）系公司依据《中华人民共和国公司法》、《中华人 民共和国证券法》、《关于上市公司实施员工持股计划试点的指导意见》、《上 海证券交易所上市公 ...

Core Viewpoint - The company aims to enhance its risk management capabilities by increasing the foreign exchange hedging business limit for 2025 to mitigate foreign exchange and interest rate risks, with a proposed limit of up to 3 billion USD or equivalent currencies [1][2]. Summary by Sections 1. Overview of Foreign Exchange Hedging Business - The purpose of the foreign exchange hedging is to manage the increasing foreign exchange risks due to the company's expanding overseas operations and the complexity of international market conditions [2]. - The proposed hedging limit will increase from an equivalent of 1.5 billion USD to a maximum amount to be approved by the shareholders' meeting, allowing for rolling use of funds within this limit [2][3]. - The funding for this hedging will come from the company's own funds, without involving raised capital [2]. 2. Transaction Details - The hedging activities will include various instruments such as forward foreign exchange contracts, foreign exchange swaps, foreign exchange options, interest rate swaps, interest rate options, and other foreign exchange derivatives [3]. - The foreign currencies involved in these transactions will primarily be USD and EUR [3]. - The duration for these hedging activities will be within 12 months from the date of approval by the shareholders' meeting [3]. 3. Approval Process - The proposal for the foreign exchange hedging business has been approved in multiple board meetings and is set to be submitted for shareholder approval [3]. 4. Impact on the Company - The foreign exchange hedging business is designed to be based on the company's actual operating conditions, aiming to mitigate the impact of exchange rate fluctuations and enhance the company's risk management capabilities [5]. - The company has established strict internal approval procedures for the hedging business, ensuring that it will not have a significant adverse impact on operations [5]. 5. Accounting Treatment - The company will follow relevant accounting standards for the recognition and measurement of financial instruments related to the foreign exchange hedging activities [6][7].