Core Points - The company announced the redemption of its convertible bonds, "Gaoce Convertible Bonds," with a redemption price of 100.1742 CNY per bond, effective from September 9, 2025 [1][2] - The last trading day for the bonds is September 3, 2025, and the last conversion day is September 8, 2025 [1][2] - The redemption was triggered as the company's stock price met the condition of being at least 130% of the conversion price for 15 out of 30 trading days [1][2] Redemption Details - Redemption Registration Date: September 8, 2025 [1] - Redemption Price: 100.1742 CNY per bond, which includes accrued interest of approximately 0.1742 CNY [2] - Redemption Payment Date: September 9, 2025 [1][2] - The bonds will be delisted from the Shanghai Stock Exchange on September 9, 2025 [1][2] Conditions for Redemption - The company has the right to redeem the bonds if the stock price conditions are met, specifically if the closing price is at least 130% of the conversion price for 15 trading days [1][2] - The calculation for accrued interest is based on a 1.20% annual interest rate for the period from July 18, 2025, to September 9, 2025 [2] Investor Instructions - Investors are advised to convert or sell their bonds before the last trading day to avoid potential losses [1][2] - The bonds will be frozen after the redemption registration date, and any unconverted bonds will be redeemed at the specified price [2]

| 证券代码：688556 | 证券简称：高测股份 | 公告编号：2025-065 | | --- | --- | --- | | 转债代码：118014 | 转债简称：高测转债 | | 青岛高测科技股份有限公司 关于实施"高测转债"赎回暨摘牌的第六次提示性公 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： 特提醒"高测转债"持有人注意在期限内转股或卖出，以避免可能出现的投 资损失。 赎回登记日：2025年9月8日 赎回价格：100.1742元/张 赎回款发放日：2025年9月9日 最后交易日：2025年9月3日 截至2025年9月1日收市后，距离2025年9月3日（"高测转债"最后交易日）仅 剩2个交易日，2025年9月3日为"高测转债"最后一个交易日。 最后转股日：2025年9月8日 截至2025年9月1日收市后，距离2025年9月8日（"高测转债"最后转股日）仅 剩5个交易日，2025年9月8日为"高测转债"最后一个转股日。 本次提前赎回完成后，"高测转债"将自2025年9月9日起在上海证券交易所 ...

蜂巢趋势臻选混合A（019985）成立日期2024年4月23日，最新规模833.56万。今年以来收益27.07%， 同类排名2776/8254；近一年收益57.59%，同类排名1989/8037；成立以来收益42.84%。 蜂巢趋势臻选混合A（019985）基金经理为徐嶒。 截至发稿，徐嶒累计任职时间10年116天，现任基金资产总规模1613.04万元，任职期间最佳基金回报 89.04%， 任职期间最差基金回报-46.77%。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 9月1日，高测股份跌5.05%，截至发稿，报10.52元/股，成交2.41亿元，换手率2.93%，总市值80.53亿 元。 资料显示，青岛高测科技股份有限公司位于山东省青岛市高新区崇盛路66号，成立日期2006年10月20 日，上市日期2020年8月7日，公司主营业务涉及高硬脆材料切割设备和切割耗材的研发、生产和销售。 从基金十大重仓股角度 数据显示，蜂巢基金旗下1只基金重仓高测股份。蜂巢趋势臻选混合 ...

Core Points - The company has announced the redemption and delisting of its convertible bonds, "Gaoce Convertible Bonds," with the last trading day set for September 3, 2025 [2][4][15] - The last conversion date for the bonds is September 8, 2025, after which the bonds will be redeemed at a price of 100.1742 CNY per bond [3][6][10] - The redemption was triggered as the company's stock price met the condition of being at least 130% of the conversion price for 15 out of 30 trading days [5][9] Redemption Details - The redemption price is set at 100.1742 CNY per bond, which includes the face value and accrued interest [10][12] - The accrued interest is calculated based on a 1.20% annual interest rate for a period of 53 days [11][12] - The redemption will take place on September 9, 2025, with the bonds being delisted from the Shanghai Stock Exchange on the same day [4][15] Important Dates - Last trading day: September 3, 2025 [2][14] - Last conversion day: September 8, 2025 [3][14] - Redemption date: September 9, 2025 [6][15] Investor Guidance - Investors are advised to convert or sell their bonds within the specified timeframe to avoid potential losses [5][18] - The company will notify bondholders of the redemption process and results through official announcements [13][20]

| 证券代码：688556 | 证券简称：高测股份 | 公告编号：2025-064 | | --- | --- | --- | | 转债代码：118014 | 转债简称：高测转债 | | 青岛高测科技股份有限公司 关于实施"高测转债"赎回暨摘牌的第五次提示性公 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： 特提醒"高测转债"持有人注意在期限内转股或卖出，以避免可能出现的投 资损失。 赎回登记日：2025年9月8日 赎回价格：100.1742元/张 赎回款发放日：2025年9月9日 最后交易日：2025年9月3日 截至2025年8月29日收市后，距离2025年9月3日（"高测转债"最后交易日） 仅剩3个交易日，2025年9月3日为"高测转债"最后一个交易日。 最后转股日：2025年9月8日 截至2025年8月29日收市后，距离2025年9月8日（"高测转债"最后转股日） 仅剩6个交易日，2025年9月8日为"高测转债"最后一个转股日。 本次提前赎回完成后，"高测转债"将自2025年9月9日起在上海证券交 ...

Group 1 - The company has announced the early redemption of its convertible bonds "Gaoce Convertible Bonds" due to the stock price meeting the redemption conditions [10][12][9] - The last trading day for the "Gaoce Convertible Bonds" is September 3, 2025, and the last conversion day is September 8, 2025 [21][7] - The redemption price is set at 100.1742 CNY per bond, which includes accrued interest [14][20][17] Group 2 - In the first half of 2025, the company achieved a revenue of 1.451 billion CNY, focusing on cost reduction and efficiency improvement amid a challenging photovoltaic industry [31][32] - The company has maintained its leading market share in photovoltaic cutting equipment and has expanded its production capacity for tungsten wire [32][33] - The company has successfully entered the humanoid robot sector, developing components for robotic applications and establishing a dedicated product line [37][38] Group 3 - The company has reported a total of 1,108 patents and 71 software copyrights as of June 30, 2025, reflecting its commitment to innovation and technology leadership [39][38] - The company is actively implementing a "quality improvement and efficiency return" action plan to enhance shareholder value and maintain stable returns [45][46] - The company has established a robust governance structure to ensure compliance with regulations and protect shareholder interests [42][43]

Summary of Gaoce Co., Ltd. Conference Call Company Overview - Gaoce Co., Ltd. reported a revenue of 1.452 billion yuan in the first half of 2025, with a net profit loss of 122 million yuan, a year-on-year decline of 151.26% [2][3] - The second quarter showed improvement with a revenue of 766 million yuan, an increase of 11.63% quarter-on-quarter, and a net profit loss narrowed by 80.56% [2][3] Key Business Segments Revenue Breakdown - Wafer slicing service revenue accounted for 48.98% of total revenue, amounting to 711 million yuan - Diamond wire revenue was 23.42%, totaling 340 million yuan - Photovoltaic equipment revenue was 7.45%, at 108 million yuan - Innovative business revenue reached 133 million yuan [4] Market Position - Gaoce maintains a leading market share in the overseas photovoltaic equipment market despite domestic demand being sluggish [6] - The company has expanded its innovative business into stone and 3C device sectors, with new products like thin slicing machines and 12-inch diamond wire slicing machines undergoing customer testing [2][9] Operational Strategies Cost Reduction and Efficiency Improvement - Gaoce has implemented technical upgrades to enhance single-machine capacity and reduce costs, collaborating with strategic clients like Yingfa Technology and Tongwei to optimize customer structure [2][10] - The company is focusing on platform-based technology development, applying hard and brittle material processing experience to metal material processing [10][15] Production Capacity and Utilization - The company’s production capacity utilization rate was approximately 60-70% in Q1 2025, improving to over 80% in Q2 [11] - Expected production in Q3 is projected to increase further, with a monthly output of around 6 billion pieces [31] Innovations and New Products Diamond Wire Innovations - Gaoce's diamond wire sales reached 30.3 million kilometers in the first half of 2025, with a 77.29% share from U-shaped wires [7] - The company has introduced coating technology and developed composite metal tendons, enhancing performance and addressing customer pain points [19] Robotics and Automation - A dedicated robotics product line has been established, focusing on humanoid robot reducers, including planetary, harmonic, and cycloidal reducers [16][22] - The team consists of experienced members from leading companies, emphasizing customized development based on client needs [16] Market Challenges and Responses - The company faced significant price declines in Q2 2025, leading to increased losses, but has optimized cooperation models to mitigate pressure [14][27] - Gaoce is actively working on cost reduction strategies, including material adjustments and waste recovery, to maintain profitability despite rising raw material costs [27] Future Outlook - The company anticipates a bullish outlook for diamond wire shipments in the second half of 2025, with expected market share growth despite a decline in terminal demand [32] - Gaoce plans to enhance its R&D investment in robotics to align with uncertain customer demands and maintain competitive advantages [38] Conclusion - Gaoce Co., Ltd. is navigating a challenging market environment with strategic collaborations, innovative product development, and a focus on cost efficiency, positioning itself for potential recovery and growth in the coming quarters.

Group 1 - The core viewpoint of the article highlights that Gaoce Co., Ltd. has officially entered the humanoid robot reducer business, marking a significant expansion in its robotics sector [1] - The reducer is identified as a critical component for humanoid robots, serving as their "joints" and is essential for mass production [1] - Gaoce's entry into this market is supported by its established technological platforms in precision cutting, grinding, and electroplating, showcasing its capability to quickly transition from R&D to order fulfillment [1] Group 2 - The company's photovoltaic business is also showing strong recovery, with a notable 80.56% quarter-on-quarter increase in net profit attributable to the parent company in Q2 2025 [1] - Gaoce maintains the leading market share in the photovoltaic equipment sector, with successful overseas line deliveries [1] - The company achieved a shipment volume of 30.3 million kilometers for diamond wires, rapidly increasing its market share, and its silicon wafer cutting service production reached 26 GW, ranking among the top five in the industry with a penetration rate of 8.23% [1]

Core Viewpoint - The company reported a challenging performance in the first half of 2025 due to the overall environment of the photovoltaic industry, but showed significant recovery in profitability in the second quarter [1][2] Financial Performance - The company achieved a total revenue of 1.451 billion yuan in the first half of 2025, with a net profit attributable to shareholders of -89 million yuan [1] - In the second quarter, the company recorded a revenue of 766 million yuan, an increase of 11.63% quarter-on-quarter [1] - The net profit attributable to shareholders in the second quarter was -14 million yuan, representing a substantial quarter-on-quarter growth of 80.56% [1] Business Development - The company is actively expanding into the humanoid robot sector and has made substantial progress, launching composite metal tendons suitable for humanoid robot dexterous hands and other parts, which have entered trial phases with multiple robot companies [1] - The company is also advancing the development of planetary roller screw grinding equipment based on its technical accumulation in high-precision grinding equipment [1] - The company has further entered the humanoid robot reducer market and is collaborating with customers to promote the development of reducers, indicating a clear acceleration in new business layout [1] Technological Support - The company has established three major technology platforms: precision cutting, precision grinding, and electroplating chemistry, which support rapid migration of R&D scenarios [2] - This capability has previously enabled the company to achieve a "dark horse" breakthrough in the photovoltaic sector and is now a key factor in its cross-industry expansion into the robotics sector [2]

| 证券代码：688556 | 证券简称：高测股份 | 公告编号：2025-061 | | --- | --- | --- | | 转债代码：118014 | 转债简称：高测转债 | | 关于实施"高测转债"赎回暨摘牌的第四次提示性公 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： 特提醒"高测转债"持有人注意在期限内转股或卖出，以避免可能出现的投 资损失。 赎回登记日：2025年9月8日 赎回价格：100.1742元/张 赎回款发放日：2025年9月9日 最后交易日：2025年9月3日 截至2025年8月28日收市后，距离2025年9月3日（"高测转债"最后交易日） 仅剩4个交易日，2025年9月3日为"高测转债"最后一个交易日。 最后转股日：2025年9月8日 截至2025年8月28日收市后，距离2025年9月8日（"高测转债"最后转股日） 仅剩7个交易日，2025年9月8日为"高测转债"最后一个转股日。 本次提前赎回完成后，"高测转债"将自2025年9月9日起在上海证券交易所摘 牌。 投资者所持可 ...