Core Viewpoint - The company Meiyai (China) Environmental Technology Co., Ltd. is positioned as a leading domestic brand in the air purification and environmental governance sector, particularly in the semiconductor industry, with significant growth potential due to its advanced technology and strong market presence [2][3]. Company Overview - Meiyai specializes in the research, development, production, and sales of air purification products and atmospheric environmental governance products, with a primary focus on fan filter units, filter products, and air purification equipment [3][7]. - The company was awarded the national-level "specialized and innovative" title of "little giant" at the end of 2021, establishing itself as a leader in cleanroom equipment for the electronics semiconductor sector [3][7]. Financial Performance - For the first half of 2025, Meiyai achieved operating revenue of 935 million yuan, representing a year-on-year growth of 23.51%, and a net profit attributable to shareholders of 98.02 million yuan, which is a 5.53% increase compared to the previous year [7][8]. - The company has distributed a total of 80.64 million yuan in dividends since its A-share listing [9]. Market Position and Supply Chain - Meiyai has developed the first domestic 28nm lithography equipment and provides essential air purification products to major semiconductor manufacturers, including Intel and ST Microelectronics, positioning itself competitively against international brands [2][3]. - The company has long-term supply agreements with SMIC, supplying various air purification products to meet stringent cleanliness standards for advanced semiconductor manufacturing processes [2][3]. Stock Performance and Investor Sentiment - On September 24, the stock price of Meiyai fell by 1.34%, with a trading volume of 191 million yuan and a turnover rate of 6.82%, resulting in a total market capitalization of 7.231 billion yuan [1]. - Recent trading data indicates a net outflow of 18.65 million yuan from main funds, with a lack of clear trends in main fund movements over the past few days [4][5].

Core Viewpoint - The company Meiyai (China) Environmental Technology Co., Ltd. is a leading player in the air purification and environmental governance sector, focusing on high-efficiency air filtration products and solutions for semiconductor manufacturing [2][3][7]. Company Overview - Meiyai specializes in the research, production, and sales of air purification products and atmospheric environmental governance products, with a primary revenue source from cleanroom air filtration and clean wall ceiling system products, accounting for 90.18% of total revenue [3][7]. - The company was recognized as a national-level "specialized, refined, and innovative" small giant by the end of 2021, establishing itself as a leader in cleanroom equipment for the semiconductor industry [3][7]. Financial Performance - For the first half of 2025, Meiyai achieved operating revenue of 935 million yuan, representing a year-on-year growth of 23.51%, and a net profit attributable to shareholders of 98.02 million yuan, with a year-on-year increase of 5.53% [8][9]. - The company has distributed a total of 80.64 million yuan in dividends since its A-share listing [9]. Market Position and Competitive Edge - Meiyai has developed the first domestic 28nm lithography equipment and provides high-efficiency filtration products to major semiconductor manufacturers, including Intel and ST Microelectronics, positioning itself competitively against international brands [2][3]. - The company’s air purification devices are capable of efficiently removing PM2.5 and harmful gases, enhancing its appeal in the environmental technology market [4][6]. Stock Performance and Investor Sentiment - On September 23, the stock price of Meiyai fell by 4.00%, with a trading volume of 135 million yuan and a market capitalization of 7.329 billion yuan [1]. - The stock has seen a net outflow of 3.2617 million yuan from main funds, indicating a lack of strong buying interest in the short term [4][5].

Group 1 - The company held its 22nd meeting of the second board on September 22, 2025, to discuss urgent matters, with all seven directors present [2][4]. - The board approved the proposal to void certain unvested restricted stocks due to the departure of some incentive plan participants [3][40]. - The board also approved the first vesting period of the 2024 restricted stock incentive plan, confirming that the conditions for vesting had been met [6][22]. Group 2 - The total number of restricted stocks to be vested is 827,968 shares, with the vesting price set at 15.40 yuan per share [11][25]. - The incentive plan involves granting a total of 4,032,000 restricted stocks, with 3% of the company's total share capital allocated for this purpose [11][12]. - The company has established performance assessment criteria for the vesting of restricted stocks, with a company-level assessment ratio of 80% and individual performance ratings affecting the final vesting amounts [24][46]. Group 3 - The company has confirmed that the voided restricted stocks will not significantly impact its operational status or the stability of its management team [46][47]. - The legal opinion confirms that the procedures followed for the voiding of stocks comply with relevant regulations and that the vesting conditions for the first period have been satisfied [31][47].

Core Viewpoint - The company Meai Technology has shown a positive market performance with a 2.75% increase in stock price, reaching a market capitalization of 7.634 billion yuan, indicating investor confidence in its growth potential in the air purification and semiconductor sectors [1]. Company Overview - Meai Technology specializes in the research, production, and sales of air purification products and atmospheric environmental governance products, with a significant focus on cleanroom air filtration systems [3][7]. - The company has been recognized as a national-level "specialized, refined, distinctive, and innovative" small giant, establishing itself as a leading domestic brand in cleanroom equipment for the semiconductor industry [3]. Business Performance - For the first half of 2025, Meai Technology reported a revenue of 935 million yuan, reflecting a year-on-year growth of 23.51%, and a net profit attributable to shareholders of 98.019 million yuan, which is a 5.53% increase compared to the previous year [7][8]. - The company's main revenue source comes from cleanroom air filtration and clean wall ceiling systems, accounting for 90.18% of total revenue [7]. Market Position and Supply Chain - Meai Technology has developed the first domestic 28nm lithography equipment and provides essential air purification products to major semiconductor manufacturers like Intel and ST Microelectronics, positioning itself competitively against international brands [2][3]. - The company has a long-term supply relationship with SMIC, providing various filtration products to meet stringent air cleanliness requirements for advanced semiconductor manufacturing processes [2]. Shareholder and Institutional Holdings - As of June 30, 2025, the number of shareholders decreased by 1.38%, while the average circulating shares per person increased by 1.40%, indicating a slight consolidation among investors [7]. - Institutional investors have shown interest, with notable increases in holdings from funds such as E Fund Kexin Mixed Fund and Huaxia Value Selection Mixed Fund [9].

- The report discusses a "Momentum Sentiment Indicator" model, which is used for market timing based on the proportion of stocks with positive returns in the CSI 300 Index over a specific period. The model calculates the proportion of stocks with positive returns over N days and applies smoothing with two moving averages (N1 and N2). When the short-term moving average exceeds the long-term moving average, it signals a bullish market sentiment[26][27][29] - The "Moving Average Sentiment Indicator" is another model that evaluates the CSI 300 Index's sentiment by comparing the closing price with eight moving averages (parameters: 8, 13, 21, 34, 55, 89, 144, 233). If the closing price exceeds more than five of these moving averages, the model signals a bullish sentiment[33][34] - The report evaluates the "Cross-Sectional Volatility" factor, which measures the dispersion of stock returns within an index. A higher cross-sectional volatility indicates a favorable alpha environment. Recent data shows a decline in cross-sectional volatility for the CSI 300, CSI 500, and CSI 1000 indices, suggesting a short-term deterioration in the alpha environment[39][41] - The "Time-Series Volatility" factor is also analyzed, which measures the historical volatility of index returns. The report notes a recent decline in time-series volatility for the CSI 300, CSI 500, and CSI 1000 indices, indicating a less favorable alpha environment in the short term[40][44] - The "Fund Concentration Divergence" indicator is introduced to monitor the degree of fund clustering. It calculates the standard deviation of cross-sectional returns within a fund portfolio. A lower standard deviation indicates higher clustering, while a higher standard deviation suggests fund divergence. The report notes a slight decrease in divergence in the most recent week[80][83] - The "Momentum Sentiment Indicator" model's backtest results show that the fast line is currently above the slow line, indicating a bullish sentiment for the CSI 300 Index[27][29] - The "Moving Average Sentiment Indicator" model's backtest results indicate that the CSI 300 Index is currently in a positive sentiment zone, as the closing price exceeds more than five of the eight moving averages[34][36] - The "Cross-Sectional Volatility" factor's recent values are as follows: CSI 300 (1.98%), CSI 500 (2.12%), and CSI 1000 (2.37%) for the past quarter, with respective percentile rankings of 69.77%, 69.84%, and 65.34% over the past two years[41] - The "Time-Series Volatility" factor's recent values are as follows: CSI 300 (0.62%), CSI 500 (0.44%), and CSI 1000 (0.24%) for the past quarter, with respective percentile rankings of 58.18%, 74.60%, and 57.37% over the past two years[44] - The "Fund Concentration Divergence" indicator shows a slight decrease in divergence, with fund and stock excess returns improving week-over-week[80][83]

美埃（中国）环境科技股份有限公司 关于作废部分已授予尚未归属的限制性股票的公告 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。 美埃（中国）环境科技股份有限公司（以下简称"美埃科技"或"公司"）于 2025 年 9 月 22 日召开的第二届董事会第二十二次会议及第二届监事会第十八次会议 审议通过了《关于作废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、本次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 26 日，公司第二届董事会薪酬与考核委员会第二次会议审议 通过了《关于公司<2024 年限制性股票激励计划（草案）>及其摘要的议案》及 《关于公司<2024 年限制性股票激励计划实施考核管理办法>的议案》。 证券代码：688376 证券简称：美埃科技 公告编号：2025-033 1 易所网站（www.sse.com.cn）披露了《监事会关于公司 2024 年限制性股票激励 计划首次授予激励对象名单的公示情况说明及核查意见》（公告编号：2024-032）。 3、2024 年 9 ...

证券代码：688376 证券简称：美埃科技 公告编号：2025-034 美埃（中国）环境科技股份有限公司 2024 年限制性股票激励计划首次授予部分 第一个归属期符合归属条件的公告 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、本次股权激励计划批准及实施情况 （一）本次股权激励计划方案及履行的程序 1、本次股权激励计划主要内容 （1）股权激励方式：第二类限制性股票。 （2）授予数量：本激励计划拟向激励对象授予 403.20 万股限制性股票，约 占本激励计划草案公告时公司股本总额 13,440.00 万股的 3.00%。其中，首次授 予 322.56 万股，约占本激励计划草案公告时公司股本总额的 2.40%，首次授予部 分约占本次授予权益总额的 80.00%；预留 80.64 万股，约占本激励计划草案公告 时公司股本总额的 0.60%，预留部分约占本次授予权益总额的 20.00%。 （3）授予价格（调整后）：15.40 元/股，即满足授予条件和归属条件后，激 励对象可以每股15.40元的价格购买公司向激励 ...

上海君澜律师事务所 2024 年限制性股票激励计划 作废部分限制性股票及归属条件成就 之 法律意见书 二〇二五年九月 上海君澜律师事务所 法律意见书 上海君澜律师事务所 关于美埃（中国）环境科技股份有限公司 关于 美埃（中国）环境科技股份有限公司 2024 年限制性股票激励计划 作废部分限制性股票及归属条件成就之 法律意见书 致：美埃（中国）环境科技股份有限公司 上海君澜律师事务所（以下简称"本所"）接受美埃（中国）环境科技股 份有限公司（以下简称"公司"或"美埃科技"）的委托，根据《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》（以下简称"《监管指南》"）《美埃（中国） 环境科技股份有限公司 2024 年限制性股票激励计划》（以下简称"《激励计 划》"或"本次激励计划"）的规定，就美埃科技本次激励计划作废部分限制 性股票及首次授予的限制性股票第一个归属期归属条件成就的相关事项（以下 简称"本次作废及归属"）出具本法律意见书。 对本法律意见书，本所律师声明如下： （一）本所律 ...

证券代码：688376 证券简称：美埃科技 公告编号：2025-036 美埃（中国）环境科技股份有限公司 第二届监事会第十八次会议决议公告 具体内容详见公司刊登在上海证券交易所网站（www.sse.com.cn）的《关于 作废部分已授予尚未归属的限制性股票的公告》（公告编号：2025-033）。 表决结果：同意3票，反对0票，弃权0票。 （二）审议通过《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》 监事会认为，公司 2024 年限制性股票激励计划首次授予部分激励对象第一 个归属期的归属条件已经成就，同意符合归属条件的激励对象办理限制性股票的 归属，本事项符合《上市公司股权激励管理办法》、公司《2024 年限制性股票 激励计划》等相关规定。 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 美埃（中国）环境科技股份有限公司（以下简称"公司"）第二届监事会第 十八次会议于2025年9月22日以现场与通讯相结合的方式召开。本次会议通知已 于2025年9月22日以邮件的方式发出 ...

美埃（中国）环境科技股份有限公司 本次拟归属的激励对象符合《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，符合本次激励计划规定的激励对象范围， 其作为公司本次激励计划激励对象的主体资格合法、有效，激励对象获授限制性 股票的归属条件已成就。 美埃（中国）环境科技股份有限公司董事会薪酬与考核委员会 2025 年 9 月 22 日 首次授予部分第一个归属期归属名单的核查意见 美埃（中国）环境科技股份有限公司（以下简称"公司"）董事会薪酬与考核 委员会依据《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》"） 等相关法律、法规及规范性文件和《美埃（中国）环境科技股份有限公司章程》 （以下简称"《公司章程》"）的有关规定对公司 2024 年限制性股票激励计划（以 下简称"本次激励计划"）首次授予部分第一个归属期归属名单进行审核，发表核 查意见如下： ...