一、监事会会议召开情况 证券代码：688032 证券简称：禾迈股份 公告编号：2025-046 杭州禾迈电力电子股份有限公司（以下简称"公司"）第二届监事会第十 八次会议于2025年8月28日在公司六楼会议室召开，会议通知已于2025年8月22 日以通讯方式送达至全体监事。本次会议应到监事3人，实到监事3人，会议由 监事会主席李威辰先生召集并主持。会议的召集和召开程序符合《中华人民共 和国公司法》（以下简称"《公司法》"）和《杭州禾迈电力电子股份有限公 司章程》（以下简称"《公司章程》"）等相关规定，会议形成的决议合法、 有效。 杭州禾迈电力电子股份有限公司 第二届监事会第十八次会议决议公告 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、准确性和完整性依法承担法律责任。 （二）审议通过了《关于2025年半年度募集资金存放与实际使用情况的 专项报告的议案》 报告期内公司严格按照《上市公司募集资金监管规则》《上海证券交易所 科创板上市公司自律监管指引第1号——规范运作》等相关法律法规以及《杭 州禾迈电力电子股份有限公司募集资金管理制度》等规定和要求管理募集资 ...

Financial Performance - The company reported a significant increase in revenue for the first half of 2025, achieving a total of 500 million yuan, representing a year-on-year growth of 25%[1]. - The company's operating revenue for the first half of the year was approximately CNY 1.01 billion, representing a 10.78% increase compared to the same period last year[20]. - The total profit for the reporting period was a loss of approximately CNY 8.30 million, a decrease of 103.96% year-on-year[20]. - The net profit attributable to shareholders was approximately CNY 16.27 million, down 91.33% from the previous year[20]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was approximately CNY 9.98 million, a decline of 94.60% year-on-year[20]. - The net cash flow from operating activities was a negative CNY 127.64 million, a decrease of 178.98% compared to the previous year[20]. - The company's basic and diluted earnings per share were both CNY 0.13, down 91.45% from the same period last year[19]. - The weighted average return on net assets was 0.26%, a decrease of 2.67 percentage points year-on-year[19]. - The gross profit margin for the first half of 2025 improved to 35%, up from 30% in the same period last year[1]. - The company reported a comprehensive income total of CNY -10,414,155.98 for the first half of 2025, compared to CNY 190,259,111.47 in the previous year[186]. Research and Development - The company has allocated 50 million yuan for research and development in clean energy technologies for the upcoming year[1]. - Research and development expenses accounted for 16.48% of operating revenue, an increase of 3.12 percentage points compared to the previous year[19]. - The total R&D expenditure for the reporting period was ¥165,659,242.89, representing a 36.61% increase compared to ¥121,266,662.74 in the same period last year[79]. - The company is focusing on modular design and high power density in its energy storage products to support low-carbon goals and reduce electricity costs for enterprises[83]. - The company is developing a high-capacity energy storage integrated machine with a capacity of 314Ah, which integrates battery management and energy management systems to maximize battery utilization and eliminate imbalances between modules[87]. Market Expansion and Strategy - The company is expanding its market presence in Southeast Asia, targeting a 15% market share by the end of 2025[1]. - A strategic acquisition of a local competitor is in progress, which is anticipated to increase the company's production capacity by 30%[1]. - The company is positioned to benefit from the global trend towards renewable energy and the increasing demand for solar power solutions[26]. - The company is committed to expanding its market presence and enhancing its product offerings in response to the growing demand for renewable energy technologies[29]. - The company has established sales subsidiaries in countries including the Netherlands, Australia, Singapore, the United States, and Germany, with over 1,000 global certifications for micro-inverters and energy storage inverters[63]. Product Development - New product development includes the launch of a next-generation power inverter, expected to enhance efficiency by 10%[1]. - The company launched a series of storage inverters, including a split-phase hybrid model for the North American market with a power range of 3.8kW to 11.5kW and a peak efficiency of approximately 97.6%[44]. - The new HoyUltra2 all-in-one liquid-cooled energy storage system boasts a maximum cycle efficiency of 90.3% and features a three-level six-fold safety protection mechanism[1]. - The company is actively involved in the development of energy storage technologies, which are becoming increasingly important in the renewable energy sector[28]. - The company is developing a high-efficiency multi-input photovoltaic inverter system with an investment of ¥29 million, aiming to enhance performance and reliability while reducing costs[12]. Financial Risks and Challenges - The company has identified risks related to technology leakage and core talent loss, which could adversely affect its competitive edge and innovation capabilities[94]. - The company’s overseas sales revenue constitutes a significant portion of its total income, exposing it to foreign exchange risks[102]. - The company reported a substantial increase in sales expenses, which rose by 48.53% to ¥140,481,533.99, attributed to optimized salary structures[104]. - The company’s gross profit margin may face downward pressure due to rising raw material costs and increased market competition in the micro-inverter sector[98]. - The company experienced a significant increase in operating costs, which rose by 54.39% to ¥735,279,554.24, primarily due to adjustments in product structure[104]. Shareholder Commitments and Governance - The actual controller Shao Jianxiong and the controlling shareholder Hangkai Group committed not to transfer or entrust the management of their shares for 36 months after the company's stock is listed[129]. - Shareholders are prohibited from transferring or managing their shares for 12 months after the stock listing, with similar commitments to comply with legal regulations[130]. - The company will publicly explain any failure to fulfill commitments regarding share transfers and compensate investors for any losses incurred[129][130]. - The company commits to a profit distribution policy that emphasizes reasonable returns to investors, maintaining continuity and stability in profit distribution[134]. - The company has established an employee stock ownership plan with additional lock-up periods for participants[137]. Operational Efficiency - The company has successfully reduced operational costs by 10% through efficiency improvements[1]. - The company is actively expanding production capacity and enhancing scale effects, with the construction of a green intelligent manufacturing base that integrates automation and information management[62]. - The monitoring cloud service platform provides visual operation guides and comprehensive alarm information for installers, enhancing operational efficiency[34]. - The company developed a data collector and monitoring cloud service platform to enhance the efficiency of photovoltaic systems, allowing for component-level monitoring and precise fault location[33]. - The company is leveraging its self-developed BMS and inverter technology to create a comprehensive energy management solution, enhancing its position in the domestic and international energy storage markets[86].

Core Viewpoint - Brazil's energy storage industry is on the verge of explosive growth, driven by the implementation of regulatory frameworks and increasing demand for solar energy storage solutions [2][3]. Group 1: Market Overview - Brazil's solar power generation is expected to increase its share in the total energy mix from 22.2% at the end of 2024 to 32.9% by 2029, with installed capacity rising from 51.7 GW to 88.2 GW, a net increase of 36.5 GW [2]. - The Brazilian Energy Storage Association (ABSAE) predicts that the solar energy storage sector will attract approximately 44 billion Brazilian Reais (around 8.46 billion USD) in investments by 2030, with off-grid systems, grid-level projects, and commercial/industrial storage each accounting for one-third of total investments [2]. - In 2024, battery storage demand in Brazil surged by 89%, with some regions experiencing over 190 hours of power outages annually, highlighting the urgent need for storage solutions among households and agricultural users [2]. Group 2: Regulatory and Policy Environment - The urgency of integrating battery storage systems into Brazil's electricity structure was emphasized by Rodrigo Sauaia, Executive Chairman of the Brazilian Solar Energy Association (ABSOLAR), noting that approximately 1 billion Brazilian Reais of renewable energy in the Northeast market remains unused due to a lack of infrastructure and planning [3]. - The development of storage solutions is currently hindered by pending regulatory policies, but the market is expected to flourish once these policies are established [3]. Group 3: Company Developments - CATL showcased its TENER Stack, a 9MWh modular energy storage system that improves land use efficiency by 45% and energy density by 50% compared to traditional systems [6]. - Trina Solar presented its Elementa series, which combines components, brackets, and storage to address grid stability challenges in Latin America, with a total shipment of 9 GW in Brazil and 19 GW in Latin America [10]. - Risen Energy introduced its Risen Sunease system and Risen Stack1, emphasizing safety and rapid deployment capabilities [12]. - Kehua Tech displayed its 1500V energy storage solution, designed to operate reliably in diverse climatic conditions across South America [15]. - Sungrow launched its integrated solar-storage solutions, addressing the structural electricity shortages in Brazil [17]. Group 4: Strategic Collaborations - During the exhibition, several companies, including Sungrow and DONG Energy, signed strategic cooperation agreements with local renewable energy firms to deepen collaboration in the storage sector [20].

Group 1 - HeMai Co., Ltd. (688032.SH) experienced a stock price decline of 3.59%, closing at 109.72 yuan, currently in a state of breaking issue [1] - The company was listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board on December 20, 2021, with an initial offering price of 557.80 yuan per share and issued 10 million shares [1] - The total funds raised from the initial public offering (IPO) amounted to 5.578 billion yuan, with a net amount of 5.406 billion yuan after deducting issuance costs, exceeding the original plan by 4.848 billion yuan [1] Group 2 - The company announced a dividend plan on May 30, 2022, distributing 30 yuan (pre-tax) for every 10 shares and a bonus of 4 shares, with the ex-dividend date on June 7, 2022 [1] - On June 6, 2023, HeMai Co., Ltd. announced another dividend plan, distributing 53 yuan (pre-tax) for every 10 shares and a bonus of 4.9 shares, with the ex-dividend date on June 13, 2023 [1] - A new dividend plan was announced on June 13, 2024, distributing 36 yuan (pre-tax) for every 10 shares and a bonus of 4.9 shares, with the ex-dividend date on June 19, 2024 [2]

Core Viewpoint - The company, Hema Electric Power Electronics Co., Ltd., is experiencing positive market dynamics due to its focus on photovoltaic inverters and energy storage products, benefiting from the depreciation of the RMB and plans for share repurchase and increase in holdings by major shareholders [2][3]. Company Overview - Hema Electric Power Electronics Co., Ltd. specializes in the research, manufacturing, and sales of photovoltaic inverters, energy storage products, and electrical equipment [2][7]. - The company's main products include micro-inverters, monitoring equipment, distributed photovoltaic power generation systems, modular inverters, and energy storage systems [2][7]. - The company has been recognized as a "specialized, refined, distinctive, and innovative" small giant enterprise, indicating its strong market position and innovation capabilities [2]. Financial Performance - For the first quarter of 2025, the company reported a revenue of 336 million, representing a year-on-year growth of 1.46%, while the net profit attributable to the parent company was a loss of 10.36 million, a decrease of 115.39% year-on-year [8]. - As of March 31, the company had 10,400 shareholders, with an average of 11,875 circulating shares per person, reflecting a slight decrease in shareholder numbers but an increase in average shares held [8]. Market Dynamics - The company's overseas revenue accounted for 64.25% of total revenue, benefiting from the depreciation of the RMB [3]. - The stock price of Hema shares increased by 0.79% on August 26, with a trading volume of 178 million and a turnover rate of 1.26%, leading to a total market capitalization of 14.12 billion [1][3]. Shareholder Activity - On March 5, 2025, Hangkai Holdings Group announced plans to increase its holdings in Hema shares, with an investment amount between 111.5 million and 223 million, funded by its own resources and special loans [3].

天眼查商业履历信息显示，杭州禾迈电力电子股份有限公司，成立于2012年，位于杭州市，是一家以从 事电力、热力生产和供应业为主的企业。企业注册资本12407.3545万人民币，实缴资本3000万人民币。 公司法定代表人为邵建雄。 通过天眼查大数据分析，杭州禾迈电力电子股份有限公司共对外投资了19家企业，参与招投标项目55 次，知识产权方面有商标信息70条，专利信息147条，此外企业还拥有行政许可13个。 来源：金融界 金融界消息 截至2025年8月15日收盘，禾迈股份（688032）报收于112.83元，上涨3.14%，换手率 1.75%，成交量2.17万手，成交金额2.43亿元。 资金流向方面，今日主力资金净流入1129.20万元，占比成交额4.64%。其中，超大单净流入1067.81万 元、占成交额4.39%，大单净流入61.39万元、占成交额0.25%，中单净流出流出1607.88万元、占成交额 6.61%，小单净流入478.68万元、占成交额1.97%。 禾迈股份最新一期业绩显示，截至2025一季报，公司营业总收入3.36亿元、同比增长1.46%，归属净利 润1035.76万元，同比减少115.39%， ...

Core Viewpoint - The news highlights the performance and business activities of Hangzhou Hemai Electric Power Electronics Co., Ltd., focusing on its growth in the photovoltaic and energy storage sectors, as well as its recent stock movements and shareholder activities. Group 1: Company Overview - Hangzhou Hemai Electric Power Electronics Co., Ltd. specializes in the research, manufacturing, and sales of photovoltaic inverters, energy storage products, and electrical equipment [2][7] - The company's main products include micro-inverters, monitoring equipment, distributed photovoltaic power generation systems, modular inverters, and energy storage systems [2][7] - The company has been recognized as a "specialized, refined, distinctive, and innovative" small giant enterprise, indicating its strong market position and technological capabilities [2] Group 2: Financial Performance - As of March 31, the company reported a revenue of 336 million yuan for the first quarter of 2025, representing a year-on-year growth of 1.46%, while the net profit attributable to shareholders was a loss of 10.36 million yuan, a decrease of 115.39% year-on-year [8] - The company's overseas revenue accounted for 64.25% of total revenue, benefiting from the depreciation of the RMB [3] Group 3: Stock Market Activity - On August 13, the company's stock price increased by 2.55%, with a trading volume of 202 million yuan and a turnover rate of 1.46%, bringing the total market capitalization to 13.92 billion yuan [1] - Hangzhou Kaikai Holdings Group announced plans to increase its stake in Hemai, with an investment of no less than 111.5 million yuan and up to 223 million yuan, supported by a special loan from China CITIC Bank [3] Group 4: Technical Analysis - The average trading cost of the company's shares is 108.82 yuan, with the stock price approaching a resistance level of 113.45 yuan, indicating potential for upward movement if the resistance is broken [6]

金融界消息 截至2025年8月11日收盘，禾迈股份（688032）报收于110.95元，上涨3.1%，换手率 1.58%，成交量1.96万手，成交金额2.15亿元。 资金流向方面，今日主力资金净流出1195.63万元，占比成交额5.56%。其中，超大单净流出54.20万 元、占成交额0.25%，大单净流出1141.43万元、占成交额5.3%，中单净流出流入537.03万元、占成交额 2.5%，小单净流入658.60万元、占成交额3.06%。 禾迈股份最新一期业绩显示，截至2025一季报，公司营业总收入3.36亿元、同比增长1.46%，归属净利 润1035.76万元，同比减少115.39%，扣非净利润968.95万元，同比减少114.64%，流动比率4.531、速动 比率3.833、资产负债率23.28%。 天眼查商业履历信息显示，杭州禾迈电力电子股份有限公司，成立于2012年，位于杭州市，是一家以从 事电力、热力生产和供应业为主的企业。企业注册资本12407.3545万人民币，实缴资本3000万人民币。 公司法定代表人为邵建雄。 通过天眼查大数据分析，杭州禾迈电力电子股份有限公司共对外投资了19家企业，参与招 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：688032 证券简称：禾迈股份 公告编号：2025-043 杭州禾迈电力电子股份有限公司 关于作废2023年限制性股票激励计划 部分限制性股票的公告 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。 杭州禾迈电力电子股份有限公司（以下简称"公司"）于2025年7月30日召开了第二届董事会第二十三次 会议及第二届监事会第十七次会议，审议通过了《关于作废2023年限制性股票激励计划部分限制性股票 的议案》，根据公司《2023年限制性股票激励计划（草案）》（以下简称"《激励计划》"或"本激励计 划"）及公司2023年第三次临时股东大会的授权，公司董事会对共计31.8081万股限制性股票进行作废处 理。现将相关事项说明如下： 一、公司2023年限制性股票激励计划决策程序 （一）2023年10月9日，公司召开第二届董事会第三次会议，审议通过了《关于公司〈2023年限制性股 票激励计划（草案）〉及其摘要的议案》《关于公司〈2023年限制性股票激励计划实施考核管理办法〉 的议案 ...

北京德恒（杭州）律师事务所 关于 杭州禾迈电力电子股份有限公司 限制性股票授予相关事项的 法律意见 电话：0571-86508080 传真：0571-87357755 邮编：310016 浙江省杭州市新业路 200 号华峰国际大厦 10 楼 北京德恒（杭州）律师事务所 关于杭州禾迈 电力电子股份有限公司 2024 年限制性股票 激励计划预留部分限制性股 票授予相关事项的法律意见 北京德恒（杭州）律师事务所 关于杭州禾迈电力电子股份有限公司 2024 年限制性股票 激励计划预留部分限制性股票授予相关事项的法律意见 释义 除非另有定义，在本法律意见中，下列术语或词语具有如下含义： 序号 简称 全称 激励计划、本次激励计 杭州禾迈电力电子股份有限公司 2024 年限制性股 划 票激励计划（草案） 《杭州禾迈电力电子股份有限公司 2024 年限制性 股票激励计划（草案）》 禾迈公司本次激励计划激励对象之预留部分限制性 股票授予事项 本本份《北京德恒（杭州）律师事务所关于杭州禾迈 指 2024 年限制性股票激励计划预留部 分限制性股票授予相关事项的法律意见》 北京德恒（杭州）律师事务所 关于杭州禾迈电力电子股份有限公司 ...