Group 1 - The transfer price for the shares in the inquiry transfer is preliminarily set at 56.30 yuan per share based on the inquiry subscription situation on August 28, 2025 [1][2] - The transferee is prohibited from transferring the acquired shares within 6 months after the transfer [1] - The additional subscription procedure has been initiated, with the deadline for additional subscriptions no later than September 10, 2025 [1] Group 2 - The inquiry transfer does not involve a change in the company's control and will not affect the governance structure or ongoing operations of the company [2]

Investment Rating - The investment rating for the company is "Buy" and is maintained [8] Core Views - The company reported a stable revenue growth with a 6.44% year-on-year increase in H1 2025, achieving a revenue of 516 million [2][6] - The net profit attributable to the parent company decreased by 32.45% year-on-year to 146 million, while the net profit excluding non-recurring items fell by 36.97% to 130 million [2][6] - In Q2 2025, the company achieved a revenue of 275 million, representing a 15.74% year-on-year growth and a 13.88% quarter-on-quarter increase [2][6] Financial Performance Summary - H1 2025 revenue breakdown: - Parent company revenue: 450 million, net profit: 158 million [12] - Q2 2025 parent company revenue: 243 million, year-on-year growth of 6.69% [12] - Subsidiary performance: - Shenyang Huqin: Revenue of 72 million, net loss of 1.4 million - Nanjing Huqin: Revenue of 7.79 million, net loss of 0.688 million - Shanghai Ruihuasheng: Net loss of 14 million - Anhui Hanzheng: Revenue of 0.24 million, net loss of 0.108 million [12] - Gross margin for H1 2025 was 47.57%, a decrease of 8.7 percentage points year-on-year [12] - R&D expense ratio increased to 13.61%, up 6.81 percentage points year-on-year [12] Inventory and Demand Indicators - Inventory at the end of H1 2025 was 321 million, an increase of 46.16% from the beginning of the period [12] - Accounts receivable and notes balance increased by 18.77% to 1.006 billion [12] - Contract liabilities grew by 64.04% to 33 million, indicating a potential recovery in downstream demand [12]

重要内容提示： 根据 2025 年 8 月 28 日询价申购情况，初步确定陕西华秦科技实业股份 有限公司（以下简称"华秦科技"或"公司"）股东本次询价转让（以下简称"本 次询价转让"）的转让价格为 56.30 元/股。 受让方通过询价转让受让的股份，在受让后 6 个月内不得转让。 一、本次询价转让初步定价 （一）经向机构投资者询价，初步确定的转让价格为 56.30 元/股。 证券代码：688281 证券简称：华秦科技 公告编号：2025-030 陕西华秦科技实业股份有限公司 股东询价转让定价情况提示性公告 股东宁波华秦万生自有资金投资合伙企业（有限合伙）、罗发、白红艳、王 均芳、李湛、武腾飞保证向陕西华秦科技实业股份有限公司提供的信息内容不存 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。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一致。 （一）本次询价转让受让方及受让股数仅为初步结果，尚存在拟转让股份被 司法冻结、扣划等风险。询价转让的最终结果以中国证券登记结算有限责任公司 上海分公司最终办理结果为准。 （二）本次询价转让不涉及公司控制权变更 ...

证券代码：688281 证券简称：华秦科技 公告编号：2025-029 陕西华秦科技实业股份有限公司 关于首次公开发行部分限售股上市流通公告 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： 陕西华秦科技实业股份有限公司（以下简称"公司"或"华秦科技"）本次股 票上市类型为首发限售股份；股票认购方式为网下，上市股数为102,214,000股。 本次股票上市流通总数为102,214,000股。 本次股票上市流通日期为2025 年 9 月 8 日（因 2025 年 9 月 7 日为非交易 日，故上市流通日期顺延至下一交易日）。 一、本次上市流通的限售股类型 公司于 2023 年 5 月 12 日召开的 2022 年年度股东大会审议通过《关于 2022 年度利润分配及资本公积转增股本预案的议案》，公司以 2023 年 5 月 30 日总股本 93,333,336 股为基数，以资本公积向全体股东每 10 股转增 4.9 股，合计转增 45,733,335 股，转增后公司总股本增加至 139,066,671 股。 公司 ...

中信建投证券股份有限公司 关于陕西华秦科技实业股份有限公司 首次公开发行部分限售股上市流通的核查意见 中信建投证券股份有限公司（以下简称"中信建投证券"）作为陕西华秦科 技实业股份有限公司（以下简称"华秦科技"、"公司"）的首次公开发行股票并 在科创板上市的保荐人，根据《证券发行上市保荐业务管理办法》《上海证券交 易所科创板股票上市规则》《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》等相关规定，对华秦科技首次公开发行部分限售股上市流通事 项进行了审慎核查，具体情况如下： 一、本次上市流通的限售股类型 根据中国证券监督管理委员会《关于同意陕西华秦科技实业股份有限公司首 次公开发行股票注册的批复》（证监许可【2022】63 号），同意陕西华秦科技实 业股份有限公司首次公开发行股票的注册申请。公司首次公开发行人民币普通股 （A 股）1,666.6668 万股，并于 2022 年 3 月 7 日在上海证券交易所科创板上市， 发行完成后总股本为 66,666,668 股，其中有限售条件流通股 51,248,736 股，无限 售条件流通股 15,417,932 股。 本次上市流通的限售股为公司首次公开 ...

Core Viewpoint - Huayin Technology (688281.SH) announced a shareholder inquiry transfer plan, involving the transfer of 11,665,941 shares, accounting for 4.28% of the total share capital, by certain shareholders prior to the company's IPO [1][2] Group 1: Shareholder Transfer Details - The transferring shareholders include Ningbo Huayin Wansheng Investment Partnership, Luo Fa, Bai Hongyan, Wang Junfang, Li Zhan, and Wu Tengfei [1] - The transfer will not occur through centralized bidding or block trading, and the shares cannot be transferred by the acquirer within six months [1][2] - The acquirers must be institutional investors with appropriate pricing capabilities and risk tolerance [1] Group 2: Shareholder Background - Huayin Wansheng, the transferring party, is an employee stock ownership platform controlled by the company's chairman and actual controller, Zhe Shengyang, who holds 8.06% of the voting rights [2] - Other key personnel involved in the transfer include senior management and core technical staff, who hold shares indirectly through Huayin Wansheng [2][3] Group 3: Company Financials and IPO - Huayin Technology was listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board on March 7, 2022, with an initial public offering of 16.67 million shares at a price of 189.50 yuan per share [3] - The total funds raised from the IPO amounted to 3.158 billion yuan, with a net amount of 2.958 billion yuan after deducting issuance costs, exceeding the original fundraising plan by 1.678 billion yuan [3] - The funds are intended for special functional materials industrialization projects, a research center for special functional materials, and to supplement working capital [3]

Core Viewpoint - Huayin Technology experienced a decline of 4.31% on August 27, with a trading volume of 350 million yuan, indicating market volatility and investor sentiment towards the company [1]. Financing Summary - On August 27, Huayin Technology had a financing buy-in amount of 42.05 million yuan and a financing repayment of 22.99 million yuan, resulting in a net financing buy of 19.05 million yuan [1]. - As of August 27, the total financing and securities balance for Huayin Technology was 201 million yuan, with a current financing balance of 198 million yuan, representing 1.71% of the circulating market value, which is above the 60th percentile level over the past year [1]. - In terms of securities lending, on August 27, Huayin Technology repaid 3,360 shares and sold 664 shares, with a selling amount of 45,100 yuan at the closing price [1]. Company Performance Summary - As of June 30, Huayin Technology had 9,033 shareholders, an increase of 1.54% from the previous period, with an average of 18,859 circulating shares per person, up by 37.88% [2]. - For the first half of 2025, Huayin Technology reported a revenue of 516 million yuan, a year-on-year increase of 6.44%, while the net profit attributable to the parent company was 146 million yuan, a decrease of 32.45% year-on-year [2]. Dividend and Shareholding Summary - Since its A-share listing, Huayin Technology has distributed a total of 229 million yuan in dividends, with 206 million yuan distributed over the past three years [3]. - As of June 30, 2025, among the top ten circulating shareholders, Huaxia Military Industry Safety Mixed A (002251) ranked as the sixth largest shareholder, holding 6.1297 million shares, an increase of 2.8334 million shares from the previous period [3].

Core Viewpoint - Huayin Technology (688281.SH) plans to participate in a pre-IPO shareholder inquiry transfer, with a total of 11,665,941 shares to be transferred, representing 4.28% of the company's total equity [1] Group 1 - The shareholders involved in the transfer include Ningbo Huayin Wansheng Investment Partnership (Limited Partnership), Luo Fa, Bai Hongyan, Wang Junfang, Li Zhan, and Wu Tengfei [1] - The total number of shares being transferred is 11,665,941 [1] - The percentage of total equity being transferred is 4.28% [1]

中信建投证券股份有限公司 关于陕西华秦科技实业股份有限公司股东 向特定机构投资者询价转让股份 相关资格的核查意见 （一）核查过程 根据相关法规要求，中信建投证券对出让方的相关资格进行了核查。出让方 已出具《关于向特定机构投资者询价转让首次公开发行前已发行股份出让方相关 承诺及声明》。中信建投证券已完成全部出让方资格核查工作，对出让方进行访 谈，并收集相关核查文件。此外，中信建投证券还通过公开信息渠道检索等手段 对出让方资格进行了核查。 （北京市朝阳区安立路 66 号 4 号楼） 1 中信建投证券股份有限公司（以下简称"中信建投证券"）受陕西华秦科技 实业股份有限公司（以下简称"华秦科技"）股东宁波华秦万生自有资金投资合 伙企业（有限合伙）、罗发、白红艳、王均芳、李湛、武腾飞（以下合称"出让 方"）委托，组织实施本次华秦科技首发前股东向特定机构投资者询价转让（以 下简称"本次询价转让"）。 根据《关于在上海证券交易所设立科创板并试点注册制的实施意见》《科创 板上市公司持续监管办法（试行）》《上海证券交易所科创板股票上市规则》《上 海证券交易所科创板上市公司自律监管指引第 4 号——询价转让和配售》（以下 简称" ...

证券代码：688281 证券简称：华秦科技 公告编号：2025-028 陕西华秦科技实业股份有限公司 股东询价转让计划书 股东宁波华秦万生自有资金投资合伙企业（有限合伙）、罗发、白红艳、王 均芳、李湛、武腾飞保证向陕西华秦科技实业股份有限公司提供的信息内容不存 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。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一致。 重要内容提示： 拟参与陕西华秦科技实业股份有限公司（以下简称"华秦科技"或"公 司"）首发前股东询价转让（以下简称"本次询价转让"）的股东为宁波华秦万生 自有资金投资合伙企业（有限合伙）（以下简称"华秦万生"）、罗发、白红艳、 王均芳、李湛、武腾飞（以上股东合并简称"出让方"）； 1 | 序号 | 股东名称 | 持有首发前股 | 占总股本比 | 总持股数量 | 总持股占总股 | | --- | --- | --- | --- | --- | --- | | | | 份数量（股） | 例（%） | （股） | 本比例（%） | | 1 | 华秦万生 | 21,976,010 | 8.06 | ...