| 证券代码：688386 证券简称：泛亚微透 公告编号：2025-026 | | | | | | | --- | --- | --- | --- | --- | --- | | 江苏泛亚微透科技股份有限公司 | | | | | | | 本公司董事会及全体董事保证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： | | | | | | | ? 本次会议是否有被否决议案：无 | | | | | | | 一、 会议召开和出席情况 | | | | | | | 5 （一） 股东会召开的时间：2025 年 月 | 20 日 | | | | | | （二） 股东会召开的地点：常州市武进区礼嘉镇前漕路 8 号公司一楼会议室 | | | | | | | （三） 出席会议的普通股股东、特别表决权股东、恢复表决权的优先股股东及 | | | | | | | 其持有表决权数量的情况： | | | | | | | 普通股股东人数 | | | 35 | | | | 28,495,934 普通股股东所持有表决权 ...

广东信达律师事务所 股东会 法律意见书 中国 深圳 福田区益田路 6001 号太平金融大厦 11、12 楼 邮 政编码：518038 电话(Tel.)：(0755) 88265288 传真(Fax.)：(0755)88265537 网址(Website)：https://www.sundiallawfirm.com 广东信达律师事务所 关于江苏泛亚微透科技股份有限公司 法律意见书 信达科会字(2025)第027号 致：江苏泛亚微透科技股份有限公司（下称"贵公司"、"公司"） 广东信达律师事务所接受贵公司的委托，指派覃正伟律师及万茜律师（下称 "本所律师"）参加了贵公司2024年年度股东会（下称"本次股东会"），并进 行了必要的验证工作。现根据《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》）《上市公司股东会规则》（以 下简称《股东会规则》）等法律法规、规范性文件以及贵公司《公司章程》《股 东大会议事规则》的规定，对贵公司本次股东会的召集、召开程序、出席会议人 员及召集人的资格、表决程序和表决结果等事项发表法律意见。 在出具法律意见书之前，本所律师参加了本次股东会，审 ...

证券代码：688386 证券简称：泛亚微透 公告编号：2025-026 江苏泛亚微透科技股份有限公司 2024年年度股东会决议公告 本公司董事会及全体董事保证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： 本次会议是否有被否决议案：无 一、 会议召开和出席情况 （一） 股东会召开的时间：2025 年 5 月 20 日 （二） 股东会召开的地点：常州市武进区礼嘉镇前漕路 8 号公司一楼会议室 （三） 出席会议的普通股股东、特别表决权股东、恢复表决权的优先股股东及 其持有表决权数量的情况： | 1、出席会议的股东和代理人人数 | 35 | | --- | --- | | 普通股股东人数 | 35 | | 2、出席会议的股东所持有的表决权数量 | 28,495,934 | | 普通股股东所持有表决权数量 | 28,495,934 | | 3、出席会议的股东所持有表决权数量占公司表决权数量的比 | 40.7084 | | 例（%） | | | 普通股股东所持有表决权数量占公司表决权数量的比例（%） | 40.7084 | （四） 表决方式是否 ...

广东信达律师事务所 股东会法律意见书 2024年年度股东会的 法律意见书 中国 深圳 福田区益田路 6001 号太平金融大厦 11、12 楼 邮政编码：518038 11,12/F, Taiping Finance Tower, Yitian Road 6001, Futian District, Shenzhen, P. R. China 电话(Tel.)：(0755) 88265288 传真(Fax.)：(0755)88265537 网址(Website)：https://www.sundiallawfirm.com 广东信达律师事务所 信达科会字(2025)第027号 关于江苏泛亚微透科技股份有限公司 致：江苏泛亚微透科技股份有限公司（下称"贵公司"、"公司"） 二、关于出席本次股东会的人员资格及召集人资格 1、经查验，出席本次股东会现场会议的股东及股东代理人以及通过网络投 票表决的股东共35人，共代表有表决权股份28,495,934股，占贵公司有表决权股 份总数的40.7084%。其中出席本次股东会现场会议的股东及股东代理人10人，代 表有表决权股份23,100,740股，占贵公司有表决权股份总数的3 ...

[Table_Title] 研究报告 Research Report 18 May 2025 泛亚微透 Pan Asian Microvent Tech (Jiangsu) (688386 CH) ePTFE 材料领先企业，加速推进国产替代 The leading enterprise in ePTFE, accelerating the promotion of domestic substitution 孙小涵 Xiaohan Sun xh.sun@htisec.com [Table_yemei1] 热点速评 Flash Analysis [Table_yejiao1] 本研究报告由海通国际分销，海通国际是由海通国际研究有限公司，海通证券印度私人有限公司，海通国际株式会社和海通国 际证券集团其他各成员单位的证券研究团队所组成的全球品牌，海通国际证券集团各成员分别在其许可的司法管辖区内从事证 券活动。关于海通国际的分析师证明，重要披露声明和免责声明，请参阅附录。(Please see appendix for English translation of the disclaimer) 公司是中国 ePTF ...

Core Insights - The company achieved a total revenue of 515 million yuan in 2024, representing a year-on-year increase of 25.39% [1] - The net profit attributable to shareholders for 2024 was 99 million yuan, up 14.58% year-on-year [1] - The company is focusing on import substitution, with significant growth in core technology product revenues [2] Financial Performance - In Q4 2024, the company reported total revenue of 162 million yuan, a year-on-year increase of 33.18% and a quarter-on-quarter increase of 28.62% [1] - The net profit attributable to shareholders in Q4 2024 was 33 million yuan, reflecting a year-on-year increase of 17.47% and a quarter-on-quarter increase of 35.90% [1] - In Q1 2025, total revenue was 131 million yuan, up 26.60% year-on-year but down 19.19% quarter-on-quarter [1] Product Development and Market Strategy - The company is advancing import substitution, with ePTFE micro-permeable products and CMD and gas management products showing sales growth of 15.8%, 97.4%, and 49.8% respectively in 2024 [2] - The company established an automotive wiring harness division in 2024, leveraging customer resource advantages to launch high-performance automotive wiring harness products [2] - The company is committed to a "market niche, product diversification" strategy, continuously developing new products and applications in various fields, including automotive and aerospace [3] Future Outlook - The company is expected to see rapid growth in new business areas, with projected net profits for 2025-2027 being 141 million, 180 million, and 226 million yuan respectively, with year-on-year growth rates of 42.04%, 27.56%, and 25.99% [3]

Core Viewpoint - The shareholders of Pan-Asia Micro-Pore (688386.SH) plan significant share reductions, citing personal funding needs and long-term investment recovery as reasons for the divestment [1][2]. Shareholder Reduction Plan - Shareholders Changzhou Sequoia High-tech Venture Capital Center and Jiangsu Southern Precision Engineering hold 8.36% and 7.34% of the company, respectively, and plan to reduce their holdings by up to 280,000 shares and 210,000 shares, representing 4% and 3% of the total share capital [1]. - The reduction will occur within three months after the announcement, through centralized bidding and block trading [1]. Stock Performance - Since the beginning of the year, the stock price of Pan-Asia Micro-Pore has increased from approximately 28 CNY per share to a peak of 59.49 CNY per share, more than doubling [2]. - As of May 7, the closing price was 54.04 CNY per share, and if the maximum reduction occurs, the shareholders could realize approximately 265 million CNY [2]. Financial Performance - In 2020, the company reported revenues of 278 million CNY and a net profit of 55.27 million CNY, marking year-on-year growth of 13.23% and 26.37% [3]. - In 2021, revenue continued to grow, but net profit decreased by 52.79% in 2022 to 31.34 million CNY despite revenue growth to 364 million CNY [3]. - In 2023, the company reversed its fortunes with revenues of 411 million CNY and a net profit of 86.54 million CNY, reflecting year-on-year growth of 12.64% and 176.08% [3]. - Projections for 2024 indicate further growth, with expected revenues of 515 million CNY and a net profit of 99.16 million CNY, representing increases of 25.39% and 14.58% [3]. Cash Flow and Operational Insights - In Q1 2023, the company reported a negative operating cash flow of -2.83 million CNY, a decline of 118.60% year-on-year [4]. - The increase in net profit is attributed to higher sales of core technology products, including ePTFE micro-pore products and aerogel products, while cash flow issues stem from reduced receivables and increased payroll expenses [4].

Group 1 - Dashi Intelligent signed a smart hospital project contract worth 58.12 million yuan with the First Affiliated Hospital of Bengbu Medical College and Bengbu Urban Construction Investment Development Co., Ltd. [1] - The project aims to create a comprehensive tumor specialty hospital integrating medical care, research, teaching, preventive health care, and rehabilitation, which is expected to positively impact the company's future performance [1] Group 2 - Huahong Company reported a net profit of 22.76 million yuan for Q1 2025, a year-on-year decrease of 89.73%, despite a revenue increase of 18.66% to 3.913 billion yuan [2] - The company specializes in the development and application of embedded/non-volatile memory, power devices, and other semiconductor technologies [2] Group 3 - Jindi Group announced a signed area of 214,000 square meters in April, a year-on-year decrease of 55.14%, with a signed amount of 2.78 billion yuan, down 55.45% [3] - The company focuses on real estate development and sales, commercial real estate, and property management [3] Group 4 - Jinlong Automobile reported a bus production of 4,361 units in April, a year-on-year decrease of 5.79%, with sales of 3,611 units, down 3.91% [4][5] - The company is engaged in the production and sales of bus products [5] Group 5 - Sanyou Medical established a joint venture with CGBio Co., Ltd. with a registered capital of 60 million yuan, focusing on innovative cell biological materials and regenerative medicine [6][7] - The company specializes in the research, production, and sales of orthopedic implant consumables [7] Group 6 - Jinzhi Technology won a bid for projects related to the State Grid with a total amount of 90.73 million yuan, accounting for 5.12% of the company's projected revenue for 2024 [9][10] - The company focuses on smart energy and smart city businesses [10] Group 7 - Pinggao Electric won multiple procurement projects from the State Grid, totaling approximately 1.751 billion yuan, which is 14.12% of the company's projected revenue for 2024 [10] - The company specializes in high-voltage switchgear and power engineering contracting [10] Group 8 - Luantang Pharmaceutical received approval for the raw material drug Celecoxib, which is a selective COX-2 inhibitor with fewer gastrointestinal side effects compared to traditional NSAIDs [11][12] - The company is involved in the research, production, and sales of pharmaceutical products [12] Group 9 - Dongjie Intelligent obtained seven patent certificates related to AGV and conveyor system technologies [13][14] - The company specializes in the research, design, manufacturing, installation, and debugging of intelligent logistics systems [14] Group 10 - XJH Holdings received a government subsidy of 8.69 million yuan, which accounts for 38.67% of the company's projected net profit for 2024 [15][16] - The company focuses on the recycling and dismantling of waste electrical products [16] Group 11 - Huaihua Pharmaceutical's subsidiary received approval for the clinical trial of HZ-J001 ointment for treating non-segmental vitiligo [17][19] - The company is engaged in the research, production, and sales of pharmaceutical products [19] Group 12 - ST Aonong reported a pig sales volume of 132,800 heads in April, a year-on-year decrease of 14.42%, while the stock of pigs increased by 15.06% [22][23] - The company is involved in feed, pig farming, food, and trade [23] Group 13 - Beibu Gulf Port reported a cargo throughput of 31.75 million tons in April, a year-on-year increase of 20.32% [24][25] - The company specializes in port loading, storage, and related services [25] Group 14 - Dongfang Iron Tower won a bid for State Grid projects totaling approximately 100 million yuan, which is 2.39% of the company's projected revenue for 2024 [26] - The company focuses on steel structures and related businesses [26] Group 15 - Huanxu Electronics reported a consolidated revenue of 4.641 billion yuan in April, a year-on-year increase of 0.72% [27] - The company provides design, manufacturing, and related services for brand customers [27] Group 16 - Jincheng Co. announced that part of its bank accounts has been frozen, involving approximately 32.97 million yuan due to contract disputes [28][29] - The company specializes in high-end intelligent equipment for photovoltaic and smart port sectors [29] Group 17 - NAIKE Equipment announced the departure of core technical personnel Wang Xiangguo [30][31] - The company focuses on semiconductor packaging equipment and related products [31] Group 18 - Jiaojian Co. won a construction project in Hefei with a bid amount of approximately 704 million yuan, covering residential buildings and related infrastructure [32][33] - The company specializes in infrastructure construction and related services [33] Group 19 - Hongyuan Green Energy plans to transfer a 27.07% stake in Inner Mongolia Xinyuan Silicon Material Technology Co., Ltd. for 1.245 billion yuan [34][35] - The company focuses on the research, production, and sales of aviation electromechanical products [35] Group 20 - Poly Development reported a signed amount of 24.622 billion yuan in April, a year-on-year decrease of 25.44% [46][48] - The company specializes in real estate development and sales [48]

早 报 精 选 1、 外交部回应中美经贸高层会谈：这次会谈是应美方请求举行的。 2、证监会印发《推动公募基金高质量发展行动方案》。 3、中国4月末黄金储备报7377万盎司，环比增加7万盎司，为连续第六个月增持黄 金。 4、上海：下调个人住房公积金贷款利率。 5、吉利汽车：建议私有化极氪，每股作价2.57美元。 宏 观 新 闻 1、 国新办昨日举行新闻发布会，央行行长潘功胜表示，降低存款准备金率0.5个百分 点，下调政策利率0.1个百分点。下调结构性货币政策工具利率0.25个百分点。潘功 胜称，优化两项支持资本市场货币政策工具，将5000亿元证券基金保险公司互换便 利，和3000亿元股票增持回购再贷款两个工具的额度合并，总额度变为8000亿元。 2、国家金融监管总局局长李云泽在国新办新闻发布会上表示，充分发挥保险资金作为 耐心资本和长期资本的作用，加大入市稳市力度，下一步将推出三条措施支持稳定和 活跃资本市场。一是扩大保险资金长期投资的试点范围，为市场注入更多增量资金； 二是调整偿付能力的监管规则，将股票投资的风险因子进一步调降10%，鼓励保险公 司加大入市力度；三是推动长周期的考核机制，促进长钱长投。李云泽称 ...

证券代码：688386 证券简称：泛亚微透 公告编号：2025-025 江苏泛亚微透科技股份有限公司 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： 股东持有的基本情况 截止本公告披露日，股东常州赛富高新创业投资中心（有限合伙）(以下简 称"赛富创投") 持有江苏泛亚微透科技股份有限公司（以下简称"公司"或 "泛 亚微透"）股份 5,850,363 股，占公司总股本比例为 8.36%；江苏南方精工股份 有限公司（以下简称"南方精工"）持有公司股份 5,136,057 股，占公司总股本 比例为 7.34%。上述股份来源于公司首次公开发行前持有的股份,且已于 2021 年 10 月 18 日起上市流通。 减持计划的主要内容 1、赛富创投计划自本公告披露之日起十五个交易日后的 3 个月内，通过集 中竞价交易、大宗交易方式减持所持有的公司的股票合计不超过 2,800,000 股， 即不超过公司总股本的 4% 。其中通过大宗交易的方式减持所持有公司的股票不 超过 1,400,000 ...