上海柏楚电子科技股份有限公司 关于 2024 年限制性股票激励计划首次授予部分第一个归属期 符合归属条件的公告 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。 重要内容提示： 一、股权激励计划批准及实施情况 （一）公司 2024 年限制性股票激励计划（以下简称"本次激励计划"）方 案及履行的程序 1、本次激励计划主要内容 （1）股权激励方式：第二类限制性股票 证券代码：688188 证券简称：柏楚电子 公告编号：2025-036 （2）授予数量（调整后）：本次激励计划拟授予的限制性股票数量为 153.30 万股，其中首次授予 123.06 万股，占本次授予权益总额的 80.27%；预留部分 30.24 万股，占本次授予权益总额的 19.73%，实际预留授予 29.85 万股。 （3）授予价格（调整后）：65.05 元/股，即满足授予条件和归属条件后， 1 限制性股票拟归属数量：33.8688 万股 归属股票来源：上海柏楚电子科技股份有限公司（以下简称"公司"） 向激励对象定向发行公司 A 股普通股股票 激励对象可以每股65 ...

证券代码：688188 证券简称：柏楚电子 公告编号：2025-037 上海柏楚电子科技股份有限公司 关于作废公司 2024 年限制性股票激励计划部分已授予尚 未归属的限制性股票的公告 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。 上海柏楚电子科技股份有限公司（以下简称"公司"）于 2025 年 9 月 8 日召 开的第三届董事会第十八次会议、第三届监事会第十六次会议审议通过了《关于 作废公司 2024 年限制性股票激励计划首次授予部分已授予尚未归属的限制性股 票的议案》，现将相关事项公告如下： 一、公司 2024 年限制性股票激励计划已履行的决策程序和信息披露情况 （1）2024 年 8 月 14 日，公司召开第三届董事会第三次会议，审议通过了 《关于<上海柏楚电子科技股份有限公司 2024 年限制性股票激励计划（草案）> 及其摘要的议案》、《关于<上海柏楚电子科技股份有限公司 2024 年限制性股票 激励计划实施考核管理办法>的议案》以及《关于提请股东大会授权董事会办理 公司 2024 年限制性股票激励计划相关事宜的 ...

上海市锦天城律师事务所 法律意见书 上海市锦天城律师事务所 关于上海柏楚电子科技股份有限公司 2024 年限制性股票激励计划首次授予部分第一个归属期 归属条件成就及部分限制性股票作废相关事项的 法律意见书 地址：上海市浦东新区银城中路 501 号上海中心大厦 11/12 层 电话：021-20511000 传真：021-20511999 邮编：200120 上海市锦天城律师事务所 关于上海柏楚电子科技股份有限公司 2024 年限制性股票激励计划首次授予部分第一个归属期 归属条件成就及部分限制性股票作废相关事项的 法律意见书 致：上海柏楚电子科技股份有限公司 上海市锦天城律师事务所（以下简称"本所"）接受上海柏楚电子科技股份 有限公司（以下简称"公司"或"柏楚电子"）的委托，并根据柏楚电子与本所 签订的《专项法律服务合同》，担任公司 2024 年限制性股票激励计划（以下简称 "本次股权激励计划"）的专项法律顾问，根据《中华人民共和国证券法》（以下 简称"《证券法》"）、《中华人民共和国公司法》（以下简称"《公司法》"）、《上市 公司股权激励管理办法》（以下简称"《管理办法》"）、《科创板上市公司自律监管 指南第 ...

关于 2024 年限制性股票激励计划首次授予部分第一个归属 上海柏楚电子科技股份有限公司监事会 本次拟归属的 24 名激励对象符合《公司法》、《证券法》等法律、法规和规 范性文件以及《公司章程》规定的任职资格，符合《管理办法》、《上市规则》等 法律、法规和规范性文件规定的激励对象条件，符合公司本次激励计划规定的首 次授予部分激励对象范围，其作为公司本次激励计划首次授予部分激励对象的主 体资格合法、有效，激励对象获授首次授予部分限制性股票的归属条件已成就。 监事会同意本次激励计划首次授予部分第一个归属期归属名单。 上海柏楚电子科技股份有限公司监事会 2025 年 9 月 8 日 期归属名单的核查意见 上海柏楚电子科技股份有限公司（以下简称"公司"）监事会依据《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》"）、《上市公司股权激励管理办法》（以下简称"《管理办法》"）、《上 海证券交易所科创板股票上市规则》（以下简称"《上市规则》"）、《科创板上市公 司自律监管指南第 4 号——股权激励信息披露》等相关法律、法规及规范性文 件和《上海柏楚电子科技股份有限公司章 ...

证券代码：688188 证券简称：柏楚电子 公告编号：2025-039 上海柏楚电子科技股份有限公司 第三届监事会第十六次会议决议公告 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。 一、监事会会议召开情况 上海柏楚电子科技股份有限公司（以下简称"公司"）第三届监事会第十六 次会议于 2025 年 9 月 8 日在公司会议室以现场方式召开，会议通知已于 2025 年 9 月 1 日以专人送出发出。会议由监事会主席万章主持，会议应到监事 3 名， 实际出席监事 3 名。本次会议的召集、召开方式以及议案审议程序符合《中华 人民共和国公司法》及《上海柏楚电子科技股份有限公司章程》（以下简称 "《公司章程》"）的相关规定，表决所形成决议合法有效。 二、监事会会议审议情况 表决结果：3 票同意，0 票反对，0 票弃权。 本议案内容详见公司同日披露于上海证券交易所网站（www.sse.com.cn） 的《关于 2024 年限制性股票激励计划首次授予部分第一个归属期符合归属条件 的公告》（公告编号：2025-036）。 （二）审议通过《 ...

证券代码：688188 证券简称：柏楚电子 公告编号：2025-038 上海柏楚电子科技股份有限公司 第三届董事会第十八次会议决议公告 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、 董事会会议召开情况 上海柏楚电子科技股份有限公司（以下简称"公司"）第三届董事会第十八 次会议（以下简称"本次会议"）于 2025 年 9 月 8 日以现场结合通讯方式召开， 会议通知于 2025 年 9 月 1 日以专人送达的形式发出。本次会议由董事长唐晔主 持，应出席董事 7 人，实际出席董事 7 人。本次会议的召集、召开方式以及议案 审议程序符合《中华人民共和国公司法》等法律法规和《上海柏楚电子科技股份 有限公司章程》的有关规定，表决所形成决议合法、有效。 二、 董事会会议审议情况 （一）审议通过《关于公司 2024 年限制性股票激励计划首次授予部分第 一个归属期符合归属条件的议案》 根据公司 2024 年第二次临时股东大会对董事会的授权，董事会认为：公司 本次激励计划首次授予部分第一个归属期的归属条件已经成就，首次授予部分第 一 ...

Investment Rating - The investment rating for the company is "Accumulate" [1] Core Views - The company reported a strong revenue growth of 25% year-on-year in H1 2025, with Q2 revenue reaching 608 million, also up 21% year-on-year, aligning with market expectations [3] - The net profit for H1 2025 was 640 million, a 30% increase year-on-year, with a net profit margin maintained at a high level of 59.53% [4] - The company is expected to benefit from the rapid penetration of laser cutting applications, particularly in the steel structure and shipbuilding industries, leading to continued revenue growth [3] Summary by Sections Revenue Performance - H1 2025 revenue reached 1.103 billion, with Q2 contributing 608 million, reflecting a 25% and 21% year-on-year growth respectively [3] - Revenue from flat solutions was 677 million, while pipe solutions generated 237 million, both expected to continue their rapid growth [3] - The three-dimensional solutions segment achieved 34 million, nearing the total revenue of 37 million for the entire year of 2024, benefiting from increased penetration in heavy industries [3] Profitability - H1 2025 net profit was 640 million, with a year-on-year increase of 30%, and Q2 net profit was 385 million, up 29% [4] - The sales gross margin for H1 2025 was 78.83%, slightly down by 2.45 percentage points year-on-year, but Q2 saw a recovery with a gross margin of 79.71% [4] - The company maintained a high net profit margin, with a sales net profit margin of 59.53% [4] Future Outlook - The company anticipates continued revenue growth driven by overseas demand and recovery in the steel structure market, alongside the introduction of high-power and three-dimensional cutting solutions [3] - The potential market for intelligent welding control systems in China's steel structure industry is estimated at around 10.7 billion, indicating significant growth opportunities [5] - The company is also expanding its capabilities in precision processing and laser technology, further enhancing its competitive edge [5] Financial Projections - Revenue forecasts for 2025-2027 are set at 2.275 billion, 2.955 billion, and 3.776 billion, representing year-on-year growth rates of 31%, 30%, and 28% respectively [7] - Adjusted net profit forecasts for the same period are 1.141 billion, 1.474 billion, and 1.880 billion, with corresponding growth rates of 29% [7] - The earnings per share (EPS) for 2025-2027 are projected to be 3.96, 5.11, and 6.52 respectively, with a price-to-earnings (PE) ratio of 35, 27, and 21 times [7]

Company Overview - Shanghai Bichu Electronics Co., Ltd. is located at 1000 Lanxianghu South Road, Minhang District, Shanghai, established on September 11, 2007, and listed on August 8, 2019 [1] - The company specializes in the research, production, and sales of laser cutting control systems [1] - Main business revenue composition: flat solutions 61.36%, pipe solutions 21.43%, others 14.09%, 3D solutions 3.11% [1] Financial Performance - For the first half of 2025, Bichu Electronics achieved operating revenue of 1.103 billion yuan, a year-on-year increase of 24.89% [2] - The net profit attributable to shareholders for the same period was 640 million yuan, representing a year-on-year growth of 30.32% [2] - Cumulative cash dividends since the A-share listing amount to 1.522 billion yuan, with 1.126 billion yuan distributed over the past three years [3] Shareholder Information - As of June 30, 2025, the number of shareholders increased to 7,925, up 4.13% from the previous period [2] - The average circulating shares per person rose to 36,390 shares, an increase of 34.81% [2] - Major shareholders include Hong Kong Central Clearing Limited, holding 18.9249 million shares, and various ETFs, indicating increased institutional interest [3] Stock Performance - On September 5, the stock price rose by 2.08% to 140.24 yuan per share, with a trading volume of 232 million yuan and a turnover rate of 0.59% [1] - Year-to-date, the stock price has increased by 2.21%, but it has seen a decline of 8.40% over the last five trading days [1] - The total market capitalization of Bichu Electronics is 40.444 billion yuan [1] Market Position - Bichu Electronics is classified under the Shenwan industry category of computers - computer equipment - other computer equipment [1] - The company is part of several concept sectors, including domestic software, margin financing, buybacks, MSCI China, and mid-cap stocks [1]

Group 1 - The core point of the news is the recent decline in the stock price of Shanghai Bichu Electronics, which fell by 5.18% to 148.61 CNY per share, with a total market capitalization of 42.858 billion CNY [1] - The company specializes in the research, production, and sales of laser cutting control systems, with its main business revenue composition being: flat solutions 61.36%, pipe solutions 21.43%, others 14.09%, and three-dimensional solutions 3.11% [1] - The company is located in Minhang District, Shanghai, and was established on September 11, 2007, with its listing date on August 8, 2019 [1] Group 2 - Huatai-PineBridge Quality Leading Mixed A Fund (010608) has increased its holdings in Bichu Electronics by 137,800 shares in the second quarter, bringing the total to 366,200 shares, which accounts for 3.38% of the fund's net value [2] - The fund has a total scale of 1.291 billion CNY and has achieved a return of 36.27% this year, ranking 1810 out of 8184 in its category [2] - The fund manager, Fang Wei, has a tenure of 11 years and 15 days, with the best fund return during his tenure being 162.07% and the worst being -17.22% [3]

Core Viewpoint - The company, Baichu Electronics, is a leader in the domestic laser cutting industry, with stable market share and faster growth in overseas markets compared to domestic ones [2][3]. Group 1: Company Performance - As of August 29, 2025, Baichu Electronics' stock price increased by 1.61% to 153.1 yuan, with a market capitalization of 44.153 billion yuan, ranking 6th in the computer equipment sector [1]. - The company reported a year-on-year increase of 30.32% in net profit attributable to shareholders for the first half of 2025 [7]. Group 2: Market and Industry Insights - The application of pipe cutting solutions is extensive, covering industries such as construction steel structures, aerospace, sports equipment, metal furniture, elevators, electrical equipment, and lighting hardware [2]. - In the first half of the year, approximately 80% of the orders for building steel structures were fulfilled, with additional involvement in shipbuilding, transformer oil tanks, bridges, and engineering machinery [3]. Group 3: Corporate Governance and Incentives - The company held its third board meeting on August 25, 2025, approving adjustments to the 2024 restricted stock incentive plan, increasing the total number of restricted shares from 1.095 million to 1.533 million, and reducing the grant price from 93.94 yuan to 65.05 yuan [4][5]. - A total of 298,500 shares were granted to 10 incentive recipients, representing 19.52% of the total granted shares and 0.1035% of the current total share capital [5].