Core Viewpoint - Yantai Debang Technology Co., Ltd. plans to repurchase a portion of its issued A-shares through centralized bidding on the Shanghai Stock Exchange, aiming to enhance investor confidence and improve the company's incentive mechanisms [1][4][12] Summary by Sections Repurchase Plan Overview - The company intends to repurchase shares with a total fund of between RMB 40 million and RMB 80 million, with a maximum repurchase price of RMB 63.52 per share [5][6] - The repurchase period is set for 12 months from the board's approval date, with provisions for extension if trading is suspended for over 10 consecutive days [4][5] Purpose of the Repurchase - The repurchase aims to recognize the company's value, maintain investor interests, enhance team cohesion, and promote sustainable development [4][9][12] Financial Impact - The maximum repurchase amount of RMB 80 million represents approximately 2.90% of total assets, 3.53% of net assets, and 6.22% of current assets as of March 30 [9] - The funding will come from the company's own funds and a special loan, which will not significantly impact the company's debt repayment ability [9][12] Shareholder and Management Plans - The company's directors, supervisors, and senior management have no plans to sell shares in the next 3 to 6 months [1][10] - The actual controller and chairman, Mr. Xie Haihua, proposed the repurchase based on confidence in the company's future [12] Share Structure Changes - The repurchase is expected to affect the share structure, with potential changes depending on the actual number of shares repurchased [8][9] - If shares are not utilized for employee stock ownership plans within three years, they will be canceled [8][12] Regulatory Compliance - The repurchase plan complies with relevant regulations and does not require shareholder meeting approval [3][4] - The company will disclose any changes to the repurchase plan as required by law [14]

Core Points - The company held its 14th meeting of the second board on April 2, 2025, with all 9 directors present, ensuring compliance with legal and procedural requirements [1][2] - The board approved a proposal for a second phase of share repurchase using self-owned funds and a special loan, with a maximum loan amount of RMB 72 million [2] Summary by Sections Meeting Details - The meeting was convened by Chairman Xie Haihua and all directors attended, confirming the legality and validity of the resolutions made [1] - The meeting's notice and related materials were sent to all directors on March 26, 2025 [1] Share Repurchase Plan - The company plans to repurchase shares through the Shanghai Stock Exchange using a centralized bidding method [1] - If the repurchased shares are not transferred within three years after the announcement of the repurchase results, they will be canceled [1] - The repurchase price will not exceed 150% of the average trading price of the company's shares over the 30 trading days prior to the board's decision [2] - The company has secured a loan commitment from CITIC Bank for the repurchase, with the loan amount not exceeding RMB 72 million [2]

证券代码：688035 证券简称：德邦科技 公告编号：2025-010 烟台德邦科技股份有限公司 关于第二期以集中竞价交易方式回购公司股份方案 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。 身营业管理需求，拟通过集中竞价交易方式、大宗交易方式减持公司股份。截至 本回购方案公告披露日，该减持计划尚在进行中。 重要内容提示： ● 烟台德邦科技股份有限公司（以下简称"公司"）拟通过上海证券交易所交 易系统以集中竞价交易方式回购公司已发行的部分人民币普通股（A 股）股票， 主要内容如下： 1、拟回购股份的用途：本次回购股份将用于员工持股计划或股权激励。若公 司未能在本次股份回购实施结果暨股份变动公告日后 3 年内转让完毕已回购股 份，尚未转让的回购股份将予以注销。如国家对相关政策作调整，则回购方案按 调整后的政策实行。 2、回购股份的价格：不高于人民币 63.52 元/股（含），该价格不高于公司董 事会审议通过回购股份方案决议前 30 个交易日公司股票交易均价的 150%。 3、回购资金总额：不低于人民币 4,000 万 ...

证券代码：688035 证券简称：德邦科技 公告编号：2025-009 烟台德邦科技股份有限公司 第二届董事会第十四次会议决议公告 本公司董事会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。 烟台德邦科技股份有限公司（以下简称"公司"）第二届董事会第十四次会 议于 2025 年 4 月 2 日以现场结合通讯表决的方式召开。本次会议通知及相关资 料已于 2025 年 3 月 26 日以电子邮件的方式送达全体董事。本次董事会由董事长 解海华先生主持，会议应出席董事人数为 9 人，实际到会人数为 9 人。本次董事 会的召集与召开程序、出席会议人员资格及表决程序、决议内容符合《公司法》 及《公司章程》的有关规定，会议做出的决议合法、有效。 经公司董事会以记名方式表决，本次董事会审议并通过了以下议案： 3、回购资金总额：不低于人民币 4,000 万元（含）,不高于人民币 8,000 万元 （含）； 4、回购资金来源：本次回购股份的资金来源为公司自有资金和回购专项贷 款资金。根据中国人民银行、金融监管总局、中国证监会《关于设立股票回购增 持再贷款有 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [7] Core Views - The company is a leader in high-end packaging materials and is expected to restart high growth, with rapid growth anticipated in smart terminal and integrated circuit packaging materials, alongside a turning point in profitability for new energy application materials [1] - The market previously expected the company's growth to be moderate due to a high proportion of revenue from new energy application materials and unclear growth potential in smart terminal and integrated circuit packaging materials [2] - The report argues that the company is entering a turning point in short-term operations, with expected performance exceeding market expectations and significant long-term growth potential [2] Summary by Sections Section 1: Super Expected Logic - The company has significant room for import substitution in smart terminal and integrated circuit packaging materials, with ongoing mass shipments in various fields such as wafer UV film materials and thermal interface materials [2] - The LIPO technology is expected to penetrate quickly, creating new demand for photosensitive resin, representing a new growth point for the company [2] - The high proportion of revenue from new energy application materials is expected to gradually improve gross margins [2] - The consolidation of Taijino is anticipated to expand solutions for AI data centers and robotics, leading to rapid growth [2] Section 2: Verification Indicators and Catalysts - Key verification indicators include the penetration rate of LIPO technology and the growth rates of revenue and net profit [3] - Potential catalysts include frequent releases of LIPO terminals, the company's layout in AI data centers and robotics, and performance exceeding expectations [3] Section 3: Research Value - The report presents a unique perspective, arguing that the market underestimates the growth potential of packaging materials due to their variety and low value, as well as the complexity of application fields [4] - The company is positioned as a platform company in packaging materials, with strong R&D capabilities and significant market space for import substitution, particularly in high-end packaging materials where foreign companies dominate [4] - The growth rhythm of the company will depend on the cyclical stages of various downstream fields, with expectations for rapid growth in smart terminals and integrated circuits by 2025, alongside improvements in gross margins for new energy packaging materials [4] Section 4: Profit Forecast and Valuation - Revenue forecasts for 2024-2026 are projected at 1.17 billion, 1.51 billion, and 1.85 billion yuan, with year-on-year growth rates of 25%, 29%, and 23% respectively [5] - Net profit attributable to the parent company is expected to be 100 million, 170 million, and 250 million yuan for the same period, with growth rates of -6%, 72%, and 48% respectively [5] - The target price is set at 52.89 yuan, based on a PE ratio of 45 times for 2025, compared to an average PE of 55 times for comparable companies [5]

证券代码：688035 证券简称：德邦科技 公告编号：2025-008 烟台德邦科技股份有限公司 关于实际控制人之一、董事长提议回购公司股份的 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。 烟台德邦科技股份有限公司（以下简称"公司"）于 2025 年 3 月 26 日收到公 司实际控制人之一、董事长解海华先生《关于提议烟台德邦科技股份有限公司回 购公司股份的函》，解海华先生提议公司以自有资金和回购专项贷款资金通过上 海证券交易所交易系统以集中竞价交易方式回购公司已发行的部分人民币普通 股（A 股）股票，具体内容如下： 一、提议的基本情况及提议时间 1、提议人：公司实际控制人之一、董事长解海华先生 2、提议时间：2025 年 3 月 26 日 二、提议回购股份的原因和目的 基于对公司价值的认可和对公司未来发展的坚定信心，维护广大投资者的利 益，增强投资者信心，公司实际控制人之一、董事长解海华先生提议公司通过集 中竞价交易方式回购部分公司股票，并在未来适宜时机将回购股份用于公司员工 持股计划或股权激励，进一步健全公司激 ...

证券代码：688035 证券简称：德邦科技 公告编号：2025-007 烟台德邦科技股份有限公司 持股 5%以上股东减持股份计划公告 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、准确性和完整性依法承担法律 责任。 重要内容提示： 大股东持股的基本情况 截至本公告披露日，国家集成电路产业投资基金股份有限公司（以下简称"国 家集成电路基金"）持有烟台德邦科技股份有限公司（以下简称"德邦科技"或 "公司"）股份 26,528,254 股，占公司股份总数 18.65%。 前述股份来源于公司首次公开发行前持有的股份，且已于 2023 年 9 月 19 日 解除限售并上市流通。 减持计划的主要内容 国家集成电路基金因自身营业管理需求，拟在本减持计划披露的减持期间内， 通过集中竞价交易方式、大宗交易方式减持其所持有的公司股份数量合计不超过 4,267,200 股，即不超过公司总股本的 3%。其中，通过集中竞价交易方式减持的 股份总数在任意连续 90 日内不超过公司总股本的 1%，自本公告披露之日起 15 个交易日之后的 3 个月内进行；通过大宗交易方式减持 ...

Financial Performance - The total operating revenue for 2024 reached 116,675.19 million yuan, representing a year-on-year increase of 25.19%[3] - The net profit attributable to shareholders of the parent company was 9,711.68 million yuan, a decrease of 5.66% compared to the previous year[3] - The basic earnings per share decreased to 0.69 yuan, down 4.17% from the previous year[3] - The weighted average return on net assets fell to 4.29%, a decrease of 0.31 percentage points[3] Assets and Equity - The total assets at the end of the reporting period amounted to 297,624.04 million yuan, an increase of 8.60% from the beginning of the period[4] - The equity attributable to shareholders of the parent company increased by 1.03% to 229,372.54 million yuan[4] Business Segments - The gross profit margin for the integrated circuit, smart terminal, and high-end equipment segments improved, while the new energy segment saw a decline due to price reductions[9] - The company focused on key customers and projects, leading to revenue growth across its four business segments: integrated circuits, smart terminals, new energy, and high-end equipment[8] Research and Development - Research and development expenses increased as the company intensified efforts in new product development and market expansion[9] Financial Stability - No financial data or indicators showed a change of 30% or more during the reporting period[10]

证券代码：688035 证券简称：德邦科技 公告编号：2025-005 烟台德邦科技股份有限公司 关于收购苏州泰吉诺新材料科技有限公司部分股权 进展暨完成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。 一、本次收购事项概述 烟台德邦科技股份有限公司（以下简称"公司"）于 2024 年 12 月 25 日召开 第二届董事会第十二次会议，审议通过了《关于以现金方式收购苏州泰吉诺新材料 科技有限公司部分股权的议案》，同意公司使用现金 25,777.90 万元收购苏州泰吉 诺新材料科技有限公司（以下简称"泰吉诺"）原股东持有的共计 89.42%的股权。 本次交易完成后，泰吉诺将成为公司的控股子公司。具体内容详见 2024 年 12 月 27 日公司披露于上海证券交易所网站（www.sse.com.cn）的《烟台德邦科技股份 有限公司关于以现金方式收购苏州泰吉诺新材料科技有限公司部分股权的公告》 （公告编号：2024-077）。 二、本次收购事项进展 截至本公告披露日，公司已按照《支付现金购买资产协议之一》的约定 ...

北京植德律师事务所 关 于 烟台德邦科技股份有限公司 2025 年第一次临时股东大会的 法律意见书 植德京(会)字[2025]0007 号 二〇二五年一月 北京市东城区东直门南大街 1 号来福士中心办公楼 12 层 邮编：100007 12th Floor, Raffles City Beijing Office Tower, No.1 Dongzhimen South Street, Dongcheng District, Beijing 100007 P.R.C 电话(Tel)：010-56500900 传真(Fax)：010-56500999 www.meritsandtree.com 北京植德律师事务所 关于烟台德邦科技股份有限公司 2025年第一次临时股东大会的 法律意见书 植德京(会)字[2025]0007 号 致：烟台德邦科技股份有限公司（贵公司） 北京植德律师事务所（下称"本所"）接受贵公司的委托，指派律师出席并 见证贵公司 2025 年第一次临时股东大会（下称本次会议或本次股东大会）。 本所律师参加本次会议进行见证，并根据《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 ...