Important Notice](index=2&type=section&id=Important%20Notice) This unaudited report includes declarations of accuracy and completeness by management, risk statements for forward-looking information, and confirms no profit distribution or illegal fund appropriations - This semi-annual report is unaudited[5](index=5&type=chunk) - The company's responsible person, head of accounting, and head of accounting department declare the financial report to be true, accurate, and complete[5](index=5&type=chunk) - Forward-looking descriptions of future plans and development strategies in this report are subject to uncertainties and do not constitute substantive commitments to investors[6](index=6&type=chunk) - No profit distribution plan or capital reserve to share capital increase plan for the reporting period[6](index=6&type=chunk) - No non-operating fund appropriations by controlling shareholders or other related parties, nor any external guarantees provided in violation of prescribed decision-making procedures[7](index=7&type=chunk)[8](index=8&type=chunk) Section 1 Definitions](index=4&type=section&id=Section%201%20Definitions) This section defines common terms used in the report, clarifying references to key entities like the Company, controlling shareholders, and subsidiaries for accurate understanding - Clarifies that "Company", "This Company", "Issuer", and "Kaidi Co., Ltd." all refer to Changzhou Kaidi Electrical Co., Ltd[15](index=15&type=chunk) - Defines the controlling shareholder Changzhou Kaizhong Investment Co., Ltd. (Kaizhong Investment) and other major subsidiaries, such as Kaicheng Precision, Kaidi USA, Kaidi Europe, and Kaidi Vietnam[15](index=15&type=chunk) - The reporting period is defined as **January 1, 2025**, to **June 30, 2025**[15](index=15&type=chunk) Section 2 Company Profile and Key Financial Indicators](index=4&type=section&id=Section%202%20Company%20Profile%20and%20Key%20Financial%20Indicators) This section outlines the company's basic information, contact details, stock overview, and key accounting data and financial indicators for the reporting period, noting a **5.64%** increase in operating revenue but significant declines of **42.67%** and **43.69%** in total profit and net profit attributable to parent company shareholders, respectively I. Company Information](index=4&type=section&id=I.%20Company%20Information) The company's full name is Changzhou Kaidi Electrical Co., Ltd., abbreviated as Kaidi Co., Ltd., with Zhou Rongqing as its legal representative Company Basic Information | Indicator | Content | | :--- | :--- | | Chinese Name | 常州市凯迪电器股份有限公司 | | Chinese Abbreviation | 凯迪股份 | | Legal Representative | 周荣清 | II. Contact Person and Contact Information](index=4&type=section&id=II.%20Contact%20Person%20and%20Contact%20Information) Discloses contact information for the company's Board Secretary Lu Xiaobo and Securities Affairs Representative Xu Xiaoxing, including address, telephone, and fax - The Board Secretary is Lu Xiaobo, and the Securities Affairs Representative is Xu Xiaoxing, with the contact address for both being No. 2 Hengcui Road, Jiangcun, Henglin Town, Wujin District, Changzhou City, Jiangsu Province[14](index=14&type=chunk) III. Brief Introduction to Changes in Basic Information](index=5&type=section&id=III.%20Brief%20Introduction%20to%20Changes%20in%20Basic%20Information) The company's registered and office addresses remained unchanged during the reporting period, and its website and email address are consistent - The company's registered address and office address remained unchanged during the reporting period[17](index=17&type=chunk) - The company's website is **www.czkaidi.cn**, and its email address is **zqb@czkaidi.cn**[17](index=17&type=chunk) IV. Information Disclosure and Changes in Document Custody Location](index=5&type=section&id=IV.%20Information%20Disclosure%20and%20Changes%20in%20Document%20Custody%20Location) The company designates "Shanghai Securities News" and "China Securities Journal" for information disclosure, publishes its semi-annual report on the Shanghai Stock Exchange website, and keeps documents at the company's securities department - Information disclosure newspapers are **"Shanghai Securities News"** and **"China Securities Journal"**, and the website address is **http://www.sse.com.cn**[18](index=18&type=chunk) V. Company Stock Overview](index=5&type=section&id=V.%20Company%20Stock%20Overview) The company's stock is A-shares, listed on the Shanghai Stock Exchange, with the stock abbreviation Kaidi Co., Ltd. and stock code 605288 Company Stock Information | Stock Type | Stock Exchange | Stock Abbreviation | Stock Code | | :--- | :--- | :--- | :--- | | A-share | Shanghai Stock Exchange | 凯迪股份 | 605288 | VII. Company's Key Accounting Data and Financial Indicators](index=5&type=section&id=VII.%20Company's%20Key%20Accounting%20Data%20and%20Financial%20Indicators) During the reporting period, the company's operating revenue increased by **5.64%**, but total profit, net profit attributable to shareholders of the listed company, and net profit after deducting non-recurring gains and losses all significantly decreased, with net cash flow from operating activities also decreasing by **11.91%** (I) Key Accounting Data](index=5&type=section&id=(I)%20Key%20Accounting%20Data) Operating revenue increased by **5.64%**, but total profit and net profit attributable to parent company shareholders decreased by **42.67%** and **43.69%** respectively, with net cash flow from operating activities decreasing by **11.91%** Key Accounting Data（2025年1-6月 vs Prior Period） | Key Accounting Data | Current Period (Jan-Jun) (RMB) | Prior Period (RMB) | Change vs. Prior Period (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 608,327,399.87 | 575,836,377.67 | 5.64 | | Total Profit | 35,494,118.44 | 61,916,827.45 | -42.67 | | Net Profit Attributable to Shareholders of the Listed Company | 31,152,827.17 | 55,324,880.75 | -43.69 | | Net Profit Attributable to Shareholders of the Listed Company After Deducting Non-Recurring Gains and Losses | 24,835,617.11 | 52,764,330.17 | -52.93 | | Net Cash Flow from Operating Activities | 97,772,017.01 | 110,987,336.04 | -11.91 | Assets and Liabilities Data（End of Current Period vs End of Prior Year） | Indicator | End of Current Period (RMB) | End of Prior Year (RMB) | Change vs. Prior Year-End (%) | | :--- | :--- | :--- | :--- | | Net Assets Attributable to Shareholders of the Listed Company | 2,222,758,821.39 | 2,222,490,505.24 | 0.01 | | Total Assets | 2,877,835,992.77 | 2,841,523,646.24 | 1.28 | (II) Key Financial Indicators](index=5&type=section&id=(II)%20Key%20Financial%20Indicators) Basic and diluted earnings per share both decreased by **44.30%** year-on-year, while weighted average return on net assets and weighted average return on net assets after deducting non-recurring gains and losses also significantly declined Key Financial Indicators（2025年1-6月 vs Prior Period） | Key Financial Indicators | Current Period (Jan-Jun) | Prior Period | Change vs. Prior Period (%) | | :--- | :--- | :--- | :--- | | Basic EPS (RMB/share) | 0.44 | 0.79 | -44.30 | | Diluted EPS (RMB/share) | 0.44 | 0.79 | -44.30 | | Basic EPS After Non-Recurring Gains/Losses (RMB/share) | 0.35 | 0.75 | -53.33 | | Weighted Average ROE (%) | 1.40 | 2.53 | decrease **1.13** percentage points | | Weighted Average ROE After Non-Recurring Gains/Losses (%) | 1.11 | 2.41 | decrease **1.3** percentage points | - The change in basic earnings per share, diluted earnings per share, and basic earnings per share after deducting non-recurring gains and losses is primarily due to the decrease in net profit[23](index=23&type=chunk) IX. Non-Recurring Gains and Losses Items and Amounts](index=6&type=section&id=IX.%20Non-Recurring%20Gains%20and%20Losses%20Items%20and%20Amounts) During the reporting period, the company's total non-recurring gains and losses amounted to **RMB 6,317,210.06**, primarily comprising government grants, fair value changes, and disposal gains/losses from financial assets Non-Recurring Gains and Losses Items and Amounts | Non-Recurring Gains and Losses Item | Amount (RMB) | | :--- | :--- | | Gains and Losses on Disposal of Non-current Assets | 21,399.92 | | Government Grants Recognized in Profit or Loss for the Current Period | 2,431,304.08 | | Gains and Losses from Fair Value Changes and Disposal of Financial Assets and Liabilities Held by Non-financial Enterprises, Excluding Effective Hedge Accounting Related to Normal Business Operations | 5,523,324.73 | | Other Non-Operating Income and Expenses Apart from the Above Items | 86,953.92 | | Less: Income Tax Impact | 1,745,772.59 | | **Total** | **6,317,210.06** | Section 3 Management Discussion and Analysis](index=7&type=

Core Insights - The company has over 30 years of experience in linear drive systems and possesses an integrated self-owned industrial chain [1] - The company is expanding its overseas bases to enhance global supply capabilities, with a focus on the robotics sector for new growth opportunities [2][3] Group 1: Company Overview - The company was established in 1992 and primarily produces linear drive systems, which include electric push rods, controllers, electrical boxes, and other components, applicable in smart homes, smart offices, healthcare, and automotive sectors [1] - The company has a strong flexible manufacturing system that integrates mold development, injection molding, processing, manufacturing, assembly, and testing, featuring a fully self-owned industrial chain including ABB robotic welding and production of lead screws and worm gears [1] - The company has a high degree of product customization and strong R&D capabilities, recognized as a "High-tech Enterprise" and holding numerous patents, including 52 invention patents, 283 utility model patents, and 145 design patents as of the end of 2024 [1] Group 2: Global Expansion and New Growth Areas - The company began its globalization efforts in September 2010 by establishing an office in the United States and later set up its first Southeast Asian production base in Vietnam in 2018, focusing on the production and sales of linear drive systems [2] - The first and second phases of the Vietnam factory are in operation, with the third phase planned to start, which is expected to generate annual sales revenue of $55.8 million upon full production [2] - The company is venturing into the robotics field by reorganizing its R&D capabilities in components such as motors, controls, and transmission, and has made a 10% investment in Jiangsu Huixing Power, which specializes in smart robotics and AI software and hardware [2] Group 3: Financial Projections - The company is projected to achieve revenues of 1.536 billion, 1.820 billion, and 2.142 billion yuan in 2025, 2026, and 2027 respectively, with corresponding net profits of 95 million, 130 million, and 187 million yuan, leading to PE ratios of 53.37, 38.96, and 26.98 times [2]

Market Overview - The automation equipment sector increased by 0.5% on August 20, with Huachangda leading the gains [1] - The Shanghai Composite Index closed at 3766.21, up 1.04%, while the Shenzhen Component Index closed at 11926.74, up 0.89% [1] Top Performers - Huachangda (300278) closed at 6.58, rising by 10.03% with a trading volume of 1.7582 million shares and a transaction value of 1.127 billion [1] - Kaidi Co. (605288) also saw a significant increase, closing at 64.88, up 10.00% with a trading volume of 18,600 shares [1] - Other notable gainers include Oke Technology (001223) at 50.42 (+6.98%) and Chipot (688686) at 119.33 (+5.29%) [1] Underperformers - Jintuo Co. (300400) experienced a decline of 7.47%, closing at 25.16 with a trading volume of 295,300 shares [2] - Jepter (688025) fell by 6.04% to 124.50, with a transaction value of 330 million [2] - Other stocks that declined include Bojie Co. (002975) at 48.26 (-4.25%) and Weichuang Electric (688698) at 54.60 (-4.21%) [2] Capital Flow - The automation equipment sector saw a net outflow of 885 million from institutional investors, while retail investors contributed a net inflow of 618 million [2] - The sector's overall capital flow indicates a mixed sentiment, with institutional investors pulling back while retail investors remain active [2] Individual Stock Capital Flow - Zhongkong Technology (688777) had a net inflow of 291 million from institutional investors, but a net outflow of 143 million from retail investors [3] - Huachangda (300278) saw a net inflow of 203 million from institutional investors, while retail investors had a net outflow of 179 million [3] - Other stocks like Huagong Technology (000988) and Kuaike Intelligent (603203) also showed varied capital flows, indicating differing investor sentiments [3]

Group 1 - The Science and Technology Innovation 50 Index rose over 3%, reaching a new high for the year, driven by a collective surge in chip stocks [1] - Companies such as Jimin Health, Hanzhong Precision Machinery, and Kesen Technology have seen consecutive trading gains, with Jimin Health achieving a five-day streak [1] - The AI server market is dominated by Inspur Information, which holds over 50% market share in China and has reported a 64.39% year-on-year increase in net profit for the first quarter [1] Group 2 - The domestic leading companies are making significant advancements, with Nvidia reportedly developing an AI chip specifically for the Chinese market [3] - Companies like Fullchai Power and Yuanlin Co. have also seen consecutive trading gains, indicating strong market performance [3] - The company Guangxin Technology is a leader in optical modules and has partnered with Cisco to launch a 1.6T silicon optical module [3] Group 3 - The domestic automotive sector is witnessing significant developments, with China FAW planning to acquire approximately 10% of Leap Motor [6] - Companies like Mould Technology and Shentong Express are also making strides, with Mould Technology providing components for new energy vehicles [6] - The automotive thermal management sector is led by companies like Hanzhong Precision Machinery, which specializes in compressors and refrigeration products [8] Group 4 - The pharmaceutical industry is seeing a surge in domestic innovative drugs going global, with Tianmu Pharmaceutical being the first listed company in traditional Chinese medicine [7] - Companies like Huahai Pharmaceutical are advancing in the development of innovative drugs, with over 20 projects currently in research [7] - The automotive passive safety system sector is represented by companies like Songyuan Safety, which reported a 30.85% year-on-year increase in net profit [7]

Core Viewpoint - Kaidi Co., Ltd. reported a stock price of 57.26 yuan on August 18, with a decrease of 0.55 yuan, representing a decline of 0.95% [1] Company Overview - The company specializes in the research, development, production, and sales of linear drive systems, with applications in smart home, medical care, and smart office sectors [1] - As a listed company in Jiangsu, its business spans multiple concept areas including new energy vehicles and smart home technologies [1] Financial Performance - On August 18, the trading volume was 0.99 billion yuan, with a turnover rate of 2.47%, and a total market capitalization of 4.047 billion yuan [1] Corporate Actions - On the evening of August 18, the company announced that its fourth board of directors' third meeting approved several resolutions, including changes to the company's registered capital and amendments to business registration [1] Capital Flow - On August 18, the net inflow of main funds was 3.115 million yuan, accounting for 0.08% of the circulating market value; over the past five days, the cumulative net inflow was 1.0016 million yuan, representing 0.02% of the circulating market value [1]

（文章来源：证券日报） 证券日报网讯 8月18日晚间，凯迪股份发布公告称，公司第四届董事会第三次会议审议通过了《关于变 更公司注册资本、修订并办理工商变更登记的议案》等多项议案。 ...

二、董事会会议审议情况 （一）、以 9 票同意、0 票反对、0 票弃权审议通过了《关于变更公司注册资本、 修订 <公司章程> 并办理工商变更登记的议案》 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。 一、董事会会议召开情况 常州市凯迪电器股份有限公司（以下简称"公司"）第四届董事会第三次会议于 2025 年 8 月 18 日在公司会议室举行，本次会议由董事长周荣清主持，会议采取现场表决和 通讯表决相结合的方式。本次会议通知于 2025 年 8 月 15 日以书面、电话和电子邮件方 式通知了全体董事。会议应出席董事 9 人，实际出席董事 9 人。本次会议的通知、召开 及审议程序符合《公司法》、 《证券法》等法律法规及《公司章程》的有关规定，所作决 议合法有效。 证券代码：605288 证 券简称：凯迪股份 公告编号：2025-029 常州市凯迪电器股份有限公司 第四届董事会第三次会议决议公告 根据中国证券监督管理委员会《上市公司股权激励管理办法》、上海证券交易所及 中国证券登记结算有限责任公司上海分公司有关业务规则的规定 ...

(三)投票方式：本次股东会所采用的表决方式是现场投票和网络投票相结合的方 式 证券代码：605288 证券简称：凯迪股份 公告编号：2025-031 常州市凯迪电器股份有限公司 关于召开2025年第二次临时股东会的通知 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： 召开地点：常州市凯迪电器股份有限公司会议室 (五)网络投票的系统、起止日期和投票时间。 网络投票系统：上海证券交易所股东会网络投票系统 网络投票起止时间：自2025 年 9 月 3 日 至2025 年 9 月 3 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股 东会召开当日的交易时间段，即 9:15-9:25,9:30-11:30，13:00-15:00；通过互 联网投票平台的投票时间为股东会召开当日的 9:15-15:00。 (六)融资融券、转融通、约定购回业务账户和沪股通投资者的投票程序 涉及融资融券、转融通业务、约定购回业务相关账户以及沪股通投资者 的投票，应按照《上海证券交易所上市公司自律监管指引第 1 号 — 规范 ...

证券代码：605288 证券简称：凯迪股份 公告编号：2025-030 常州市凯迪电器股份有限公司 关于变更公司注册资本、公司类型、修订《公司章程》并办理工 商变更登记的公告 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、准确性和完整性依法承担法律责任。 常州市凯迪电器股份有限公司（以下简称"公司"）于 2025 年 8 月 18 日在公司会 议室召开了第四届董事会第三次会议，审议通过了《关于变更公司注册资本、修订<公 司章程>并办理工商变更登记的议案》，具体情况如下： 根据中国证券监督管理委员会《上市公司股权激励管理办法》、上海证券交易所及 中国证券登记结算有限责任公司上海分公司有关业务规则的规定，公司已于近日完成了 《2025 年限制性股票激励计划（草案）》所涉限制性股票的授予登记工作。具体内容详 见公司 2025 年 8 月 16 日于指定信息披露媒体披露的《关于向激励对象首次授予限制性 股票的结果公告（更新版）》（公告编号：2025-028）。 截至 2025 年 8 月 14 日，公司实际已向 42 名激励对象定向增发人民币普通股（A 股）股票 ...

证券代码：605288 证券简称：凯迪股份 公告编号：2025-031 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： 一、 召开会议的基本情况 (一)股东会类型和届次 2025年第二次临时股东会 (二)股东会召集人：董事会 (三)投票方式：本次股东会所采用的表决方式是现场投票和网络投票相结合的方 式 常州市凯迪电器股份有限公司 关于召开2025年第二次临时股东会的通知 (四)现场会议召开的日期、时间和地点 召开的日期时间：2025 年 9 月 3 日 14 点 00 分 召开地点：常州市凯迪电器股份有限公司会议室 (五)网络投票的系统、起止日期和投票时间。 股东会召开日期：2025年9月3日 本次股东会采用的网络投票系统：上海证券交易所股东会网络投票系统 网络投票系统：上海证券交易所股东会网络投票系统 网络投票起止时间：自2025 年 9 月 3 日 至2025 年 9 月 3 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股 东会召开当日的交易时间段，即 9:15-9:25,9:30- ...