Core Viewpoint - The company is implementing a buyback and cancellation of restricted stock due to not meeting performance targets for the 2024 stock incentive plan, alongside factors such as employee departures and individual performance issues [2][5]. Group 1: Buyback and Cancellation Details - The company plans to repurchase and cancel a total of 229,613 shares of the first category of restricted stock held by 76 incentive recipients [2][3]. - The buyback price for the first category of restricted stock is set at 17.63 yuan per share for partners and 19.48 yuan per share for other recipients [3]. - The decision was approved in meetings held on August 8, 2025, by the company's board and supervisory committee [3]. Group 2: Reasons for Buyback - The company achieved a 15.70% year-on-year increase in revenue for 2024, meeting the trigger for performance assessment but not the target value [5]. - A total of 130,589 shares are to be repurchased due to 12 incentive recipients leaving the company, with the remaining shares being repurchased due to performance issues [5][6]. - Nine recipients received an "A-" performance rating, allowing only 60% of their shares to be released from restrictions, leading to further repurchases [6]. Group 3: Impact on Share Structure - Following the buyback, the total share capital will decrease from 194,104,030 shares to 193,874,417 shares [6]. - The remaining first category of restricted stock in the 2024 incentive plan will total 259,776 shares after the buyback [6]. Group 4: Compliance and Legal Opinions - The company has followed necessary procedures and legal requirements for the buyback and cancellation, ensuring no harm to the rights of incentive recipients or creditors [7][8]. - The law firm involved confirmed that the buyback complies with relevant regulations and that the company must continue to fulfill disclosure obligations regarding the reduction of registered capital [8].

Core Insights - The article highlights the growth and transformation of Chinese tech companies, particularly Tianyue Advanced and Puyuan Precision Electric, showcasing their achievements in the capital market and technological innovation [8][12][19] Group 1: Company Achievements - Tianyue Advanced showcased the world's first 12-inch silicon carbide substrate at the 2024 Munich Electronics Fair, marking a significant milestone in the industry [8] - Puyuan Precision Electric's MHO900 series ultra-portable oscilloscope has entered the global high-end measurement instrument market, reflecting its competitive edge [8] - Tianyue Advanced achieved a revenue of 794 million yuan and a net profit of 10.88 million yuan in the first half of the year, with R&D expenses increasing by 34.94% [10] - Puyuan Precision Electric's net profit grew by 112.1% in the first half of the year, aided by its acquisition of a majority stake in Beijing Naisu Electronics [11] Group 2: Capital Market Support - Guotai Junan has developed a comprehensive financial service model that supports tech companies throughout their lifecycle, acting as a long-term partner in their growth [8][12] - The capital market has undergone structural changes that facilitate a virtuous cycle among technology, capital, and industry, shifting from "single-point support" to "ecological co-construction" [8][12] - Guotai Junan's involvement in Tianyue Advanced's IPO process helped bridge the knowledge gap between the silicon carbide industry and investors, enabling a successful listing on the Sci-Tech Innovation Board [10] Group 3: Industry Trends - The oscilloscope market in China is projected to grow at a compound annual growth rate (CAGR) of 8.16% from 2018 to 2024, indicating a robust demand for high-end measurement instruments [10] - The introduction of the "Eight Articles of the Sci-Tech Innovation Board" by the China Securities Regulatory Commission has encouraged tech companies to achieve technological synergies through mergers and acquisitions [11] - The capital market is evolving to provide a more supportive environment for tech innovation, with a focus on long-term capital and sustainable growth [17][19]

Core Points - Puyuan Precision Electric announced the repurchase and cancellation of 229,613 shares of the first category of restricted stock due to failure to meet performance assessment targets for the 2024 equity incentive plan [2] - The cancellation affects 76 incentive recipients, attributed to factors such as employee departures and individual performance not meeting standards [2]

证券代码：688337 证券简称：普源精电 公告编号：2025-073 普源精电科技股份有限公司 2024 年限制性股票激励计划第一类限制性股票回购注销 的实施公告 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： | 回购股份数量 | 注销股份数量 | 注销日期 | | --- | --- | --- | | 229,613股 | 229,613股 | 2025年11月25日 | 一、 已履行的决策程序和信息披露情况 1、2025年8月8日，普源精电科技股份有限公司（以下简称"公司"）召开了 第二届董事会第二十八次会议、第二届监事会第二十六次会议，审议通过了《关 于调整2024年限制性股票激励计划回购价格及回购注销部分第一类限制性股票 的议案》。公司计划回购注销2024年限制性股票激励计划共计76名激励对象所持 有的已授予但尚未解除限售的第一类限制性股票229,613股，本次回购事业合伙 人第一类限制性股票的价格为 17.63 元/股，回购企业合伙人第一类限制性股票 的价格为 19.48 元/股。具体内容详 ...

上海市石门一路 288 号 兴业太古汇香港兴业中心一座 26 层 邮编：200041 电话：（86-21）5298 5488 传真：（86-21）5298 5492 junhesh@junhe.com 君合律师事务所上海分所 关于普源精电科技股份有限公司 回购注销 2024 年限制性股票激励计划 第一类限制性股票实施情况的 法律意见书 致：普源精电科技股份有限公司 君合律师事务所上海分所（以下简称"本所"）接受普源精电科技股份有限 公司（以下简称"公司"）的委托，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》"）、《上市公司股权激 励管理办法》（以下简称"《管理办法》"）等中国现行法律、行政法规和规范性文 件（以下简称"中国法律、法规"，为本法律意见书法律适用之目的，不包括中 国香港特别行政区、中国澳门特别行政区及台湾地区法律、法规）以及《普源精 电科技股份有限公司章程》（以下简称"《公司章程》"）、《普源精电科技股份有限 公司 2024 年限制性股票激励计划（草案）》（以下简称"《激励计划》"）、《普源精 电科技股份有限公司 2024 年限制性股票激 ...

Core Insights - Puyuan Precision Electric's stock increased by 0.87% on November 17, with a trading volume of 67.09 million yuan [1] - The company reported a financing net purchase of 993,600 yuan on the same day, with a total financing and securities balance of 226 million yuan [1] - As of September 30, 2025, the company achieved a revenue of 597 million yuan, representing a year-on-year growth of 11.68%, while the net profit attributable to shareholders decreased by 32.38% to 40.66 million yuan [2] Financing and Securities - On November 17, Puyuan Precision Electric had a financing purchase of 11.47 million yuan, with a current financing balance of 225 million yuan, accounting for 3.06% of the circulating market value [1] - The financing balance is above the 90th percentile level over the past year, indicating a high level of financing activity [1] - The company had a securities lending balance of 529,200 yuan, with a remaining quantity of 13,400 shares, also above the 90th percentile level over the past year [1] Shareholder Information - As of September 30, 2025, the number of shareholders increased by 28.9% to 7,894, while the average circulating shares per person decreased by 22.18% to 8,628 shares [2] - The company has distributed a total of 255 million yuan in dividends since its A-share listing [3] - Notable changes in institutional holdings include Hong Kong Central Clearing Limited becoming the second-largest circulating shareholder with 2.08 million shares, and Jin Xin Shenzhen Growth Mixed Fund increasing its holdings by 476,800 shares [3]

Group 1 - The China Securities Regulatory Commission (CSRC) has requested additional information from Puyuan Precision Electronics regarding its overseas investment compliance and foreign investment restrictions [1] - Puyuan Precision Electronics has submitted a listing application to the Hong Kong Stock Exchange, with CITIC Securities as the sole sponsor [1] - The CSRC's inquiries include the company's overseas subsidiary establishment procedures, compliance with foreign investment policies, and the operational status of its subsidiaries in restricted sectors [1] Group 2 - Puyuan Precision Electronics is a leading electronic measurement instrument company, recognized as the largest supplier in China and ranked eighth globally by revenue in 2024 [2] - The company designs, develops, manufactures, and delivers comprehensive electronic measurement instruments and solutions, supporting scientific exploration and industry innovation [2] - Through its "RIGOL" brand, the company serves over 100,000 end customers across more than 90 countries and regions, addressing complex testing challenges in various sectors including communications, new energy, semiconductors, and education [2]

Group 1 - The China Securities Regulatory Commission (CSRC) has requested additional information from Puyuan Precision Electronics regarding its overseas investment compliance and foreign investment restrictions [1] - Puyuan Precision Electronics has submitted a listing application to the Hong Kong Stock Exchange, with CITIC Securities as the sole sponsor [1] - The CSRC's inquiries include the company's overseas subsidiary establishment procedures, compliance with foreign investment policies, and the operational status of its subsidiaries in restricted sectors [1] Group 2 - Puyuan Precision Electronics is a leading electronic measurement instrument company, recognized as the largest supplier in China and ranked eighth globally by revenue in 2024 [2] - The company designs, develops, manufactures, and delivers comprehensive electronic measurement instruments and solutions, supporting scientific exploration and industry innovation [2] - Under the "RIGOL" brand, the company serves over 100,000 end customers across more than 90 countries and regions, addressing complex testing challenges in various sectors including communications, new energy, semiconductors, and education [2]

Group 1 - The China Securities Regulatory Commission (CSRC) has requested additional information from Puyuan Precision Electronics (688337.SH) regarding its overseas investment compliance and foreign investment restrictions [1] - Puyuan Precision Electronics has submitted a listing application to the Hong Kong Stock Exchange, with CITIC Securities as the sole sponsor [1] - The CSRC's inquiries include the company's overseas subsidiary establishment procedures, compliance with foreign investment policies, and the operational status of its subsidiaries in restricted sectors [1] Group 2 - Puyuan Precision Electronics is a leading electronic measurement instrument company, recognized as the largest supplier in China and ranked eighth globally by revenue in 2024 [2] - The company designs, develops, manufactures, and delivers a comprehensive range of electronic measurement instruments and solutions, supporting scientific exploration and industry innovation [2] - Through its "RIGOL" brand, the company serves over 100,000 end customers across more than 90 countries and regions, addressing complex testing challenges in various sectors including communications, new energy, semiconductors, and education [2]

Core Viewpoint - The company, Rigol Technologies, is set to hold a Q3 2025 earnings presentation on November 28, 2025, to discuss its operational results and financial status with investors [2][3]. Group 1: Meeting Details - The earnings presentation will take place on November 28, 2025, from 14:00 to 15:00 [4]. - The location for the meeting is the Shanghai Stock Exchange Roadshow Center, accessible online [4]. - The format of the meeting will be an interactive online session, allowing for real-time communication with investors [3][4]. Group 2: Participation Information - Investors can submit questions for the presentation from November 21 to November 27, 2025, until 16:00 [5]. - Questions can be submitted via the Roadshow Center's "Pre-Question" section or through the company's email [5]. - The company will address commonly asked questions during the earnings presentation [5]. Group 3: Attendees - Key attendees will include the General Manager, Financial Officer, Board Secretary, and an Independent Director [4].