Core Viewpoint - The report details the shareholding changes of Kewell Technology Co., Ltd., specifically the reduction of shares held by Tang Deping, which has fallen below 5% as of July 14, 2025 [1][5]. Group 1: Shareholding Changes - As of the report date, Tang Deping directly held 4,098,273 shares, representing 4.8748% of the total share capital, down from 5.1177% prior to the reduction [5]. - The total number of shares held by Tang Deping, including those held through Hefei Jingkun Equity Investment Partnership, decreased from 4,302,464 shares (5.1177%) to 4,203,464 shares (4.9999%) after a reduction of 99,000 shares [5][6]. - The reduction of shares was executed through centralized bidding (post-market fixed price) [5][6]. Group 2: Purpose and Future Plans - The purpose of the share reduction was due to Tang Deping's personal funding needs [4]. - Tang Deping plans to reduce his holdings further within 12 months, with a maximum of 250,000 shares (0.2974% of total shares) to be sold through various methods including inquiry transfer and centralized bidding [4][5]. - As of the report date, 99,000 shares have already been reduced, with the plan not yet fully executed [4][5]. Group 3: Compliance and Disclosure - The report confirms that all information disclosed is accurate and complete, with Tang Deping assuming legal responsibility for its truthfulness [2][7]. - There are no other significant undisclosed matters related to the shareholding changes [7][8].

证券代码：688551 证券简称：科威尔 公告编号：2025-051 科威尔技术股份有限公司 关于持股 5%以上股东持股比例降至 5%以下的权益 变动提示性公告 一、本次权益变动基本情况 注：1、本次权益变动所涉及股份均享有表决权，不存在表决权委托或受限等任何权益限制 1 或限制转让的情况。 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、准确性和完整性承担法律责任。 重要内容提示 本次权益变动为科威尔技术股份有限公司（以下简称"公司"）持股 5% 以上股东履行此前披露的股份减持计划，不触及要约收购。 本次权益变动后，股东唐德平先生合计持有公司股份数量由 4,302,464 股 减少至 4,203,464 股，占公司目前总股本的比例由本次减持前 5.1177%降至 4.9999%。 本次权益变动为持股 5%以上非第一大股东减持，不会导致公司控股股东、 实际控制人发生变化。 公司于 2025 年 7 月 14 日收到股东唐德平先生出具的告知函，现将其本次权 益变动情况公告如下： | 信息披 | 姓名 | 唐德平 | | | | | | | --- | --- ...

科威尔技术股份有限公司 简式权益变动报告书 上市公司名称：科威尔技术股份有限公司 股票上市地点：上海证券交易所 股票简称：科威尔 1 信息披露义务人声明 一、本报告书系信息披露义务人依据《中华人民共和国公司法》《中华人民 共和国证券法》《上市公司收购管理办法》《公开发行证券的公司信息披露内容 与格式准则第 15 号——权益变动报告书》等相关法律法规和规范性文件编写。 二、信息披露义务人签署本报告书已获得必要的授权和批准。 三、依据《中华人民共和国公司法》《中华人民共和国证券法》《上市公司 收购管理办法》的规定，本报告书已全面披露信息披露义务人在科威尔技术股份 有限公司中拥有权益的股份变动情况。 截至本报告书签署之日，除本报告书披露的信息外，信息披露义务人没有通 过任何其他方式增加或减少其在科威尔技术股份有限公司中拥有权益的股份。 股票代码：688551 信息披露义务人：唐德平 住所及通讯地址：安徽省合肥市高新区***** 股份变动性质：股份减持、持股比例降至 5%以下 签署日期：2025 年 7 月 14 日 四、本次权益变动系根据本报告书载明的资料进行。除信息披露义务人外， 没有委托或者授权其他任何人提供未 ...

Investment Rating - Industry investment rating is "Overweight" [1] Core Viewpoints - The report highlights a new round of market momentum driven by advancements in robotics, particularly in humanoid robots, with a projected global demand of approximately 2 million units by 2030 [4][19] - Key recommended stocks include Xinjie Electric, Beite Technology, Hanwei Technology, Zhaowei Electromechanical, Hengli Hydraulic, and Nuwei Co., among others [2][4] - The report emphasizes the importance of tracking the humanoid robot sector, which is entering a critical growth phase [3][4] Summary by Sections Humanoid Robots - The humanoid robot industry is expected to see significant growth, with major projects and partnerships emerging, such as the procurement project by China Mobile for humanoid biped robots worth 124 million [9][19] - Companies like Tesla and Figure are ramping up production, with Figure planning to increase its humanoid robot output by three times in the upcoming months [10][19] Photovoltaic Equipment - The report notes an accelerated penetration of N-type technology, enhancing the competitive edge of leading companies in the sector [20] - It suggests focusing on companies that are innovating in cost-reduction technologies and expanding production capacity [20] Energy Storage - The energy storage sector is poised for growth due to favorable policies and increasing demand from both generation and user sides [20] - Key players in this space include companies involved in lithium battery systems and integrated storage solutions [20] Semiconductor Equipment - The semiconductor equipment market is projected to reach 140 billion by 2030, with a growing share from domestic manufacturers [4][20] Automation - The automation market is expected to grow significantly, with a market size of approximately 40 billion, projected to reach 55.7 billion by 2026 [4][20] Hydrogen Energy - The report highlights the potential of green hydrogen in achieving carbon neutrality, with a focus on companies that have integrated hydrogen production capabilities [21] Engineering Machinery - The report suggests monitoring leading companies in the engineering machinery sector, emphasizing those with product, scale, and cost advantages [4][20]

Core Viewpoint - The Kuwait Sovereign Wealth Fund has set the sell price for Bank of America shares at $47.95 per share in a block trade, resulting in a cash-out of $3.1 billion [1] Group 1 - The transaction was facilitated by Goldman Sachs as the underwriter [1]

Group 1 - The company has initiated a share repurchase plan with a total expected amount between RMB 20 million and RMB 30 million [1] - The repurchase period is set from August 23, 2024, to August 22, 2025 [1] - The maximum repurchase price was adjusted from RMB 42.00 per share to RMB 41.60 per share following the annual equity distribution [2] Group 2 - As of June 25, 2025, the company has repurchased a total of 841,042 shares, representing 1.0004% of the total share capital [2][3] - The total amount spent on the repurchase is approximately RMB 22.95 million, with the highest transaction price at RMB 34.10 per share and the lowest at RMB 23.55 per share [2][3] - The company will continue to comply with relevant regulations and disclose progress on the share repurchase in a timely manner [4]

一、 回购股份的基本情况 科威尔技术股份有限公司（以下简称"公司"）于 2024 年 8 月 23 日召开第二届 董事会第二十一次会议，审议通过了《关于以集中竞价交易方式回购公司股份方 案的议案》，同意公司使用自有资金以集中竞价交易方式回购公司股份，回购资金 总额不低于人民币 2,000 万元（含），不高于人民币 3,000 万元（含），回购价格不 高于人民币 42.00 元/股（含），回购期限自公司第二届董事会第二十一次会议审议 通过本次回购方案之日起12个月内。具体内容详见公司于2024年8月26日和2024 年 8 月 30 日在上海证券交易所网站（www.sse.com.cn）披露的《科威尔技术股份 有限公司关于以集中竞价交易方式回购股份的方案暨推动"提质增效重回报"行动 方案的公告》（公告编号：2024-040）和《科威尔技术股份有限公司关于以集中竞 价交易方式回购股份的回购报告书》（公告编号：2024-042）。 1 证券代码：688551 证券简称：科威尔 公告编号：2025-050 科威尔技术股份有限公司 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 ...

Core Viewpoint - The legal opinion issued by Anhui Tianhe Law Office confirms that the convening and conducting of the shareholders' meeting of Kewell Technology Co., Ltd. on June 20, 2025, complies with relevant laws and regulations, ensuring the legality and validity of the resolutions passed during the meeting [1][5][15]. Group 1: Meeting Procedures - The second extraordinary general meeting of shareholders is scheduled for June 20, 2025, and was convened by the board of directors following a resolution from the 26th meeting of the second board [2][3]. - The meeting was announced to shareholders at least fifteen days in advance, detailing the time, location, and agenda [2][3]. Group 2: Attendance and Qualifications - A total of 10 shareholder representatives attended the meeting, holding 56,765,919 shares, which is 68.1794% of the total shares [3][4]. - An additional 15 shareholders participated via online voting, holding 73,999 shares, representing 0.0889% of the total shares [3][4]. Group 3: Proposals and Voting Procedures - The proposals for the meeting were approved by the board of directors and disclosed in accordance with legal requirements [6][15]. - Voting was conducted through written ballots and online systems, with results verified by the legal representatives and shareholder representatives [6][7]. Group 4: Voting Results - The voting results showed overwhelming support for the proposals, with the first proposal receiving 56,818,217 votes in favor, accounting for 99.9618% of the votes cast [7][9]. - All proposals presented during the meeting were passed with similar high approval rates, indicating strong shareholder support [9][12][14]. Group 5: Conclusion - The legal opinion concludes that all aspects of the meeting, including the convening, attendance, proposals, voting procedures, and results, are in compliance with the Company Law, Securities Law, and relevant regulations, affirming the legality and validity of the resolutions passed [15].

Core Points - The company has elected Xu Wen as the employee representative director for the third board of directors, following the cancellation of the supervisory board and changes to the registered capital [2][4] - Xu Wen's term will last until the end of the third board's term, and she meets all qualifications as per relevant laws and regulations [2][4] - The composition of the third board complies with legal requirements, ensuring that the number of employee representative directors does not exceed half of the total board members [2] Company Changes - The company held a temporary shareholders' meeting on June 20, 2025, to approve the cancellation of the supervisory board and amend the company’s articles of association [1][2] - The company will now have one employee representative director elected by the employees [2] Director Profile - Xu Wen, born in October 1988, holds a bachelor's degree and has no permanent residency abroad [4] - She has held various positions within the company, including administrative manager, and currently holds 13,000 shares through the company's 2021 restricted stock incentive plan [4] - Xu Wen has no conflicts of interest with major shareholders or management and meets all legal qualifications to serve as a director [4]

Core Viewpoint - The announcement details the completion of the board restructuring and the appointment of senior management, internal audit head, and securities affairs representative at Kewell Technology Co., Ltd. Board Restructuring - The company held its second extraordinary general meeting of shareholders on June 20, 2025, where it elected six non-independent directors and four independent directors to form the third board of directors, which also includes one employee representative director [1][2] - The board members elected include Fu Shitao, Jiang Jiaping, Tai Kun, Xia Yaping, Liu Jun, and Pei Xiaohui as non-independent directors, and Lu Chenyu, Lei Guangyin, Ma Zhibao, and Tian Yuan as independent directors, with Tian Yuan being a professional accountant [1][2] Election of Board Leadership and Committees - At the first meeting of the third board of directors, Fu Shitao was elected as the chairman and Tai Kun as the vice chairman [2] - The specialized committees were formed with the following members: - Strategic and Sustainable Development Committee: Fu Shitao, Liu Jun, Pei Xiaohui, Lu Chenyu, Ma Zhibao - Audit Committee: Tian Yuan, Lei Guangyin, Xia Yaping - Nomination Committee: Lei Guangyin, Ma Zhibao, Tai Kun - Compensation and Assessment Committee: Lu Chenyu, Tian Yuan, Jiang Jiaping - Independent directors hold a majority in the audit, nomination, and compensation committees, with Tian Yuan serving as the chair of the audit committee [3] Senior Management Appointments - The first meeting of the third board of directors also approved the reappointment of senior management, including: - Fu Shitao as General Manager - Liu Jun, Tang Deping, and Gao Shun as Vice General Managers - Ge Pengsheng as Secretary of the Board and Financial Officer - Xia Yaping as Head of Internal Audit - Zhang Yan as Securities Affairs Representative - These appointments are effective until the term of the third board of directors ends [4][5] Departure of Previous Board Members and Management - Following the restructuring, independent director Wen Dongmei and non-independent director Ren Yi will no longer serve on the board, with Ren Yi retaining other management roles [6] - Former senior management member Ye Jiangde has left due to personal reasons [6] - The second supervisory board members, including Xia Yaping, will also step down, with Xia Yaping being re-elected as a non-independent director and continuing as the internal audit head [6] Shareholding Information - As of the announcement date, Ren Yi holds 6,153,973 shares, accounting for 7.32% of the total share capital [6]