Group 1 - The core viewpoint of the news is that Hangke Technology's stock has increased by 5.04%, reaching a price of 32.95 yuan per share, with a total market capitalization of 19.891 billion yuan [1] - Hangke Technology, established on November 21, 2011, specializes in the design, research and development, production, and sales of various rechargeable batteries, particularly lithium-ion battery production line post-processing systems [1] - The company's main business revenue composition includes 70.17% from charging and discharging equipment, 28.54% from other equipment, 0.83% from accessories, and 0.47% from other sources [1] Group 2 - From the perspective of fund holdings, Penghua Fund has one fund heavily invested in Hangke Technology, specifically the Penghua SSE Sci-Tech Innovation 100 ETF Linked A (019861), which holds 309 shares, unchanged from the previous period [2] - The fund has achieved a year-to-date return of 46.89%, ranking 892 out of 4216 in its category, and a one-year return of 44.5%, ranking 852 out of 3877 [2] - The fund manager, Su Junjie, has been in position for 7 years and 274 days, with the fund's total asset size at 24.924 billion yuan [3]

Investment Rating - The investment rating for the company is "Buy" [1] Core Views - The company has shown steady growth in the first three quarters of 2025, with a revenue of 2.721 billion yuan, representing a year-on-year increase of 1.9%. The net profit attributable to the parent company reached 386 million yuan, up 2.6% year-on-year [7] - The company has a strong order backlog and cash flow, with contract liabilities amounting to 2.355 billion yuan, a year-on-year increase of 13.6% [7] - The company is benefiting from both domestic and international market growth, with significant partnerships established with leading battery manufacturers such as CATL, BYD, and Tesla [7] Financial Summary - The total revenue forecast for 2023 is 3.932 billion yuan, with a projected growth of 27.32% in 2025 [1] - The net profit attributable to the parent company is expected to reach 584 million yuan in 2025, reflecting a growth rate of 78.96% [1] - The earnings per share (EPS) is projected to be 0.97 yuan in 2025, with a price-to-earnings (P/E) ratio of 33.68 [1][8]

Core Insights - Hangke Technology (688006.SH) reported its Q3 2025 results, revealing that 14 institutional investors hold a total of 173 million shares, accounting for 28.67% of the company's total equity [1] - The top ten institutional investors collectively hold 28.64% of the shares, with a decrease of 0.92 percentage points compared to the previous quarter [1] Institutional Holdings - The number of public funds that increased their holdings this period is three, including HSBC Jintrust Research Selected Mixed Fund, Yongying Shanghai Stock Exchange Science and Technology Innovation Board 100 Index Enhanced Fund A, and Green Carbon Neutrality Theme Mixed Fund A, with an increase ratio of 0.12% [2] - Four public funds decreased their holdings, including HSBC Jintrust Low Carbon Pioneer Stock A and HSBC Jintrust Dynamic Strategy Mixed A, with a decrease ratio of 1.00% [2] - Three new public funds were disclosed this period, including Yongying New Materials Selected Mixed Fund A, Nanhua Ruiying Mixed Fund A, and Science and Technology Innovation Enhanced ETF [2] - A total of 132 public funds were not disclosed this period, including Southern CSI 1000 ETF and Bank of China Innovation Power Stock [2] Social Security Fund and Foreign Investment - One social security fund, the National Social Security Fund 413 Combination, decreased its holdings by 0.11% compared to the previous quarter [2] - One foreign fund, Hong Kong Central Clearing Limited, increased its holdings by 0.55% this period [2]

Core Insights - The social security fund has disclosed its stock holdings for the third quarter, appearing in the top ten circulating shareholders of 20 stocks, with 9 new entries and 4 increases in holdings [1][2] Group 1: Stock Holdings - The total number of shares held by the social security fund in the 20 stocks is 68.2952 million, with a total market value of 4.237 billion yuan [1] - New entries include Sanyou Medical, Dongwei Technology, and Lexin Technology, with significant holdings [1] - The stocks with the highest number of social security fund shareholders include Yingxi Network, Nanwei Medical, Zhongwang Software, and Zhuoyi Information, with holdings of 7.934 million, 6.269 million, 3.809 million, and 2.337 million shares respectively [1] Group 2: Shareholding Ratios - The stock with the highest shareholding ratio by the social security fund is Haitai Xinguang, at 4.20%, followed by Nanwei Medical at 3.34% [2] - The largest number of shares held is in Yingxi Network, with 7.934 million shares, followed closely by Sanyou Medical and Nanwei Medical with 7.9145 million and 6.2692 million shares respectively [2] - The stocks with the highest market value held by the social security fund include Nanwei Medical, Lexin Technology, and Bochu Electronics, valued at 629 million, 598 million, and 542 million yuan respectively [2] Group 3: Performance Metrics - Among the stocks held by the social security fund, 15 reported year-on-year net profit growth in the first three quarters, with Sanyou Medical showing the highest increase of 623.19% [2] - Other notable net profit growth includes Shen Gong Co. and Xinxiang Micro, with increases of 158.93% and 138.88% respectively [2] - The social security fund's holdings are primarily concentrated in the electronics, computer, and power equipment industries, with 5, 4, and 3 stocks respectively [2] Group 4: Market Performance - The average decline of the stocks held by the social security fund since October is 3.32% [3] - The best-performing stock is Puyuan Precision, with a cumulative increase of 6.18%, followed by Maide Medical and Yingshi Innovation with increases of 4.89% and 4.22% respectively [3] - The stock with the largest decline is Lexin Technology, which has dropped by 13.80% [3]

Core Insights - The company, Hangke Technology (688006.SH), reported a total revenue of 2.721 billion yuan for Q3 2025, with a net profit attributable to shareholders of 386 million yuan and a net cash inflow from operating activities of 444 million yuan [1]. Financial Performance - The latest debt-to-asset ratio stands at 44.38%, an increase of 0.50 percentage points from the previous quarter [3]. - The gross profit margin is reported at 28.82%, which is a decrease of 1.14 percentage points compared to the same period last year [3]. - The return on equity (ROE) is 7.04%, reflecting a slight decrease of 0.06 percentage points year-on-year [3]. - The diluted earnings per share (EPS) is 0.64 yuan [3]. - The total asset turnover ratio is 0.28 times, while the inventory turnover ratio is 0.70 times [3]. Shareholder Structure - The number of shareholders is 23,600, with the top ten shareholders holding a total of 430 million shares, accounting for 71.18% of the total share capital [3]. - The top shareholders include: 1. Xuexi - 42.2 million shares 2. Hangzhou Hangke Intelligent Equipment Group Co., Ltd. - 22.3 million shares 3. Bank of Communications Co., Ltd. - HSBC Jintrust Low Carbon Pioneer Equity Fund - 1.38 million shares 4. Hong Kong Central Clearing Limited - 1.19 million shares 5. Bank of Communications - HSBC Jintrust Dynamic Strategy Mixed Fund - 0.81 million shares 6. National Social Security Fund 413 Portfolio - 0.78 million shares 7. Bank of Communications - HSBC Jintrust Core Growth Mixed Fund - 0.65 million shares 8. Bank of Communications - HSBC Jintrust Intelligent Manufacturing Pioneer Equity Fund - 0.63 million shares 9. Cao Guanqun - 0.58 million shares 10. China Merchants Bank - HSBC Jintrust Research Selected Mixed Fund - 0.58 million shares [3].

Core Viewpoint - The company, Zhejiang Hangke Technology Co., Ltd., has announced the cancellation of its supervisory board and the modification of its articles of association to enhance its governance structure and operational efficiency [8][9]. Financial Data - The financial statements for the third quarter are unaudited, and the company has confirmed the accuracy and completeness of the financial information provided [3][4]. - The report indicates that there were no significant changes in the financial indicators or accounting data during the reporting period [5]. Governance Changes - The supervisory board will be abolished, and its responsibilities will be transferred to the audit committee of the board of directors, in compliance with relevant laws and regulations [8][9]. - The company has revised its articles of association to reflect these governance changes, which will require approval from the shareholders' meeting [10]. Compliance and Legal Responsibility - The board of directors and senior management have guaranteed the truthfulness and completeness of the quarterly report, assuming legal responsibility for any misstatements or omissions [2][8].

Group 1 - The company will hold its third extraordinary general meeting of shareholders on November 17, 2025, at 14:30 [2][4] - Voting will be conducted through the Shanghai Stock Exchange's online voting system, with specific time slots for trading system and internet voting [2][3] - Shareholders must register to attend the meeting, with detailed registration procedures outlined for both individual and corporate shareholders [11][12][13] Group 2 - The meeting will review several proposals, including the approval of the company's third quarter report for 2025 and the cancellation of the supervisory board [20][22] - The supervisory board's decision to cancel itself and amend the company's articles of association aims to enhance corporate governance and operational standards [22][24] - The results of the supervisory board meeting indicated unanimous support for the proposals, with all votes in favor [21][23]

浙江杭可科技股份有限公司 对外投资管理制度 第一章 总则 第一条 为规范浙江杭可科技股份有限公司（以下称"公司"）对外投资行 为，提高投资效益，规避投资所带来的风险，有效、合理地使用资金，使资金的 时间价值最大化，保护公司和股东利益，依照《中华人民共和国公司法》（以下 称"《公司法》"）《上海证券交易所科创板股票上市规则》《上市公司治理准 则》等法律、法规、规范性文件，结合《浙江杭可科技股份有限公司章程》（以 下称"《公司章程》"）等公司制度，制定本制度。 第二条 本制度所称的对外投资是指公司为获取未来收益而将一定数量的货 币资金、股权、实物资产、无形资产或其它法律法规及规范性文件规定可以用作 出资的资产对外进行各种形式投资的活动。 第三条 按照投资期限的长短，公司对外投资分为短期投资和长期投资。 （一）短期投资指：公司购入的能随时变现且持有时间不超过一年（含一 年）的投资，包括各种股票、债券、基金等。 （二）长期投资指：公司投出的超过一年的、不能随时变现或不准备变现的 各种投资，包括债券投资、股权投资和其他投资等。包括但不限于下列类型： 第八条 公司董事会战略决策委员会为公司董事会的专门议事机构，负责统 筹 ...

浙江杭可科技股份有限公司 股东会议事规则 二〇二五年十月 第一章 总则 第一条 为规范浙江杭可科技股份有限公司（以下简称"公司"）行为，保 证股东会依法行使职权，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》《上市公司治理准则》《上海证券交易所科创板股票上市规 则》等相关法律、行政法规、规范性文件和《浙江杭可科技股份有限公司章程》 （以下简称"《公司章程》"）的规定，制定本规则。 第二条 公司股东会的召集、提案、通知、召开等事项适用本规则。 第三条 公司应当严格按照法律、行政法规、《公司章程》以及本规则的相 关规定召开股东会，保证股东能够依法行使权利。 公司董事会应当切实履行职责，认真、按时组织股东会。公司全体董事应 当勤勉尽责，确保股东会正常召开和依法行使职权。 第四条 股东会应当在《公司法》和《公司章程》规定的范围内行使职权。 第五条 股东会分为年度股东会和临时股东会。年度股东会每年召开一次， 应当于上一会计年度结束后的六个月内举行。临时股东会不定期召开，出现 《公司法》第一百一十三条规定的应当召开临时股东会的情形时， ...

Core Viewpoint - Hangke Technology reported a slight increase in revenue and net profit for the first three quarters of 2025, indicating stable growth in a competitive market [1][2]. Financial Performance - The company's revenue for the first three quarters reached 2.721 billion yuan, a year-on-year increase of 1.87% [1]. - The net profit attributable to shareholders was 386 million yuan, up 2.59% year-on-year [1]. - The non-recurring net profit was 361 million yuan, reflecting a growth of 6.08% year-on-year [1]. - Basic earnings per share stood at 0.64 yuan [1]. - The gross margin for the first three quarters was 28.82%, a decrease of 1.14 percentage points year-on-year [1]. - The net profit margin was 14.17%, an increase of 0.10 percentage points compared to the same period last year [1]. Quarterly Insights - In Q3 2025, the gross margin improved to 40.07%, an increase of 10.01 percentage points year-on-year and 13.71 percentage points quarter-on-quarter [1]. - The net profit margin for Q3 was 13.01%, down 0.65 percentage points year-on-year and 0.34 percentage points quarter-on-quarter [1]. Expense Analysis - Total operating expenses for the company were 284 million yuan, a decrease of 65.7 million yuan year-on-year [2]. - The expense ratio was 10.43%, down 2.65 percentage points from the previous year [2]. - Sales expenses decreased by 21.63% year-on-year, while management and R&D expenses increased by 12.09% and 13.14%, respectively [2]. - Financial expenses saw a significant reduction of 293.32% [2]. Company Overview - Hangke Technology, established on November 21, 2011, is located in the Xiaoshan Economic and Technological Development Zone, Hangzhou, Zhejiang Province [2]. - The company specializes in the design, research and development, production, and sales of various rechargeable batteries, particularly lithium-ion battery production line post-processing systems [2]. - The main business revenue composition includes 70.17% from charging and discharging equipment, 28.54% from other equipment, 0.83% from accessories, and 0.47% from other sources [2]. - Hangke Technology is classified under the power equipment-battery-lithium battery special equipment sector and is associated with concepts such as Apple, Samsung, BYD, mid-cap stocks, and the Yangtze River Delta integration [2].