海目星激光科技集团股份有限公司 2025 年第一次临时股东会会议资料 海目星激光科技集团股份有限公司 2025 年第一次临时股东会 会议资料 二〇二五年九月 海目星激光科技集团股份有限公司 2025 年第一次临时股东会会议资料 目录 | 海目星激光科技集团股份有限公司 2025 年第一次临时股东会会议须知 1 | | --- | | 海目星激光科技集团股份有限公司 年第一次临时股东会会议议程 2025 3 | | 议案一：关于调整向控股子公司提供财务资助暨关联交易的议案 4 | 海目星激光科技集团股份有限公司 2025 年第一次临时股东会会议资料 海目星激光科技集团股份有限公司 2025 年第一次临时股东会会议须知 各位股东及股东代表： 为了维护全体股东的合法权益，确保股东会的正常秩序和议事效率，保证会 议的顺利进行，根据《中华人民共和国公司法》《中华人民共和国证券法》、中 国证券监督管理委员会《上市公司股东会规则》以及《海目星激光科技集团股份 有限公司章程》《海目星激光科技集团股份有限公司股东大会议事规则》的相关 规定，特制定2025年第一次临时股东会会议须知： 一、为确认出席股东会的股东或其代理人或其他出 ...

格隆汇9月10日丨海目星(688559.SH)在投资者互动平台表示，公司在固态电池设备领域属于自主可控， 不仅拥有知识产权，还有庞大的研发技术团队，支持固态相关技术的研发、测试、量产上市及售后服 务。责任编辑：钟离 ...

Core Viewpoint - The company, HaiMuxing, is a pioneer in the solid-state battery equipment sector, simultaneously developing two technological routes: "lithium metal anode + oxide electrolyte" and "silicon-carbon anode + sulfide electrolyte" [1] Group 1: Technological Development - The company possesses intellectual property and a large R&D team to support the development, testing, mass production, and after-sales service of solid-state battery technologies [1] - It has successfully established a complete process for the mass production of lithium metal solid-state batteries and received orders for 2 GWh of production equipment valued at 400 million yuan, marking the first commercial order for high-energy lithium metal solid-state battery equipment in the industry [1] Group 2: Equipment and Production - In the sulfide all-solid-state battery route, the company has achieved comprehensive coverage of key manufacturing equipment, including solid-state electrode preparation, solid-state electrolyte film preparation, and bare cell assembly [1] - The company has made several technological breakthroughs in core processes and has provided pilot line equipment for sulfide solid-state batteries to several leading global new energy technology companies, with the equipment receiving high recognition from customers and being shipped in succession [1]

Core Viewpoint - The company, HaiMuxing (688559.SH), emphasizes its strong capabilities in the solid-state battery equipment sector, highlighting its independent control over technology and significant research and development resources [1] Group 1 - The company possesses intellectual property rights in the solid-state battery equipment field [1] - A large research and development technical team supports the development, testing, mass production, and after-sales service of solid-state related technologies [1]

Company Overview - Haimeixing Laser Technology Group Co., Ltd. is located in Longhua District, Shenzhen, Guangdong Province, and was established on April 3, 2008. The company went public on September 9, 2020. Its main business involves the research, design, production, and sales of laser and automation equipment across various industries, including consumer electronics, power batteries, and sheet metal processing [1][2]. Financial Performance - As of June 30, 2025, Haimeixing reported a revenue of 1.664 billion yuan, a year-on-year decrease of 30.50%. The net profit attributable to shareholders was -708 million yuan, reflecting a significant year-on-year decline of 565.65% [2]. - The company has distributed a total of 60.4585 million yuan in dividends since its A-share listing [3]. Stock Performance - On September 10, Haimeixing's stock price increased by 2.11%, reaching 41.66 yuan per share, with a trading volume of 125 million yuan and a turnover rate of 1.24%. The total market capitalization stood at 10.322 billion yuan [1]. - Year-to-date, the stock price has risen by 21.10%, with a 9.11% increase over the last five trading days, a 32.63% increase over the last 20 days, and a 30.23% increase over the last 60 days [1]. Shareholder Information - As of June 30, 2025, the number of shareholders increased to 15,900, up by 4.49% from the previous period. The average number of circulating shares per shareholder decreased by 3.85% to 15,629 shares [2]. - Among the top ten circulating shareholders, Huaxia CSI Robot ETF (562500) ranked as the sixth largest, holding 4.415 million shares, an increase of 1.6939 million shares compared to the previous period [3]. Industry Context - Haimeixing operates within the mechanical equipment sector, specifically in automation equipment and laser devices. The company is associated with several concept sectors, including TOPCon batteries, solid-state batteries, BC batteries, Tesla, and CATL concepts [2].

Summary of Key Points from Conference Call Records Industry Overview - The focus is on the **semi-solid battery** industry, with significant advancements expected in commercialization from 2025 to 2027, particularly from leading companies like BYD, Guoxuan High-Tech, Yiwei Lithium Energy, and XINWANDA [1][2][5]. Core Insights and Arguments - **Commercialization Timeline**: Full solid-state sulfide batteries are expected to undergo batch vehicle testing by 2027, while semi-solid batteries will see product breakthroughs and production scaling from 2025 to 2027 [1][2]. - **Energy Density Improvements**: Current mainstream oxide polymer batteries achieve energy densities of 350 Wh/kg, which can exceed 450 Wh/kg with lithium metal anodes. New Energy has achieved 500 Wh/kg [1][4]. - **Technical Bottlenecks**: Challenges such as interface contact and flow issues in oxide and polymer systems can be addressed through quasi-solid electrolyte technology and the addition of ionic liquids [1][6]. - **Market Applications**: Semi-solid batteries have already made commercial progress in various fields, including 3C electronics, low-altitude drones, robotics, commercial vehicles, and passenger cars, with more applications expected by late 2025 to 2026 [1][8]. Key Players and Their Strategies - **Leading Companies**: Major players like BYD, Guoxuan High-Tech, Yiwei Lithium Energy, and XINWANDA are actively investing in semi-solid battery technology and have clear plans for vehicle integration and mass production [2][5]. - **Starship Energy**: This company leads in the oxide lithium metal anode semi-solid battery sector, achieving energy densities over 500 Wh/kg and collaborating with high-end clients [3][12][13]. - **Hai Moxing**: The company is experiencing a business turnaround with a significant increase in orders, expecting to reduce losses in Q3 and potentially turn profitable in Q4 [15]. Additional Important Insights - **Technological Advantages**: Semi-solid or quasi-solid oxide polymer technology enhances conductivity and safety, with solutions for low room temperature conductivity through the introduction of plasticizers or UV light [9]. - **Investment Opportunities**: While full solid-state sulfide remains a core investment focus, semi-solid batteries are also seen as having substantial potential, warranting investor attention [16]. - **Future Projections**: The semi-solid battery market is anticipated to see large-scale applications by 2026 and significant industrial results by 2029-2030, driven by technological iterations and cost reductions [12]. Conclusion - The semi-solid battery sector is poised for rapid growth and commercialization, with leading companies making significant strides in technology and market applications. Investors are encouraged to monitor developments in this space for potential opportunities.

Summary of Solid-State Battery Conference Call Industry Overview - The solid-state battery technology has disruptive potential and is expected to address battery performance bottlenecks. The Ministry of Industry and Information Technology (MIIT) may provide subsidies to leading solid-state battery manufacturers such as CATL, BYD, and Guoxuan High-Tech to accelerate industry development [1][2]. Key Points and Arguments - **Equipment Development**: The equipment sector has largely converged, with both solid-state and semi-solid-state equipment being relatively standardized. Semi-solid production lines can be reused, and only minor upgrades are needed in specific processes. Once industry signals are clear, production expansion will accelerate [3][4]. - **Material Pathways**: The oxide pathway is considered more certain than the sulfide pathway for material selection, with expectations that the cobalt oxide semi-solid battery market could reach 40-50 GWh by 2027. This could drive the entire solid-state battery industry forward [5]. - **Emerging Current Collector Materials**: Companies like Yuanhang and Nord, along with traditional copper foil manufacturers such as Jiayuan and Defu Zhongyi, are developing new current collector materials to address the negative electrode expansion issue inherent in solid-state batteries [6]. - **Investment Opportunities**: The core issue in cost reduction for both oxide and sulfide materials lies in solid-solid interface contact problems. The resolution of these issues may present new investment opportunities [9][13]. Notable Companies and Equipment Suppliers - **Equipment Suppliers**: Companies to watch include Hanbuking, Xian Dao Intelligent, and Liyuanheng as complete line suppliers. Specific companies like Honggong, Naknor, Amanster, and Xianhui are noted for their advantages in particular processes. Hai Moxing is highlighted for its growth potential due to a strong order backlog [7][8]. Additional Insights - **Emerging Current Collector Directions**: The focus on composite aluminum foil and new iron-based/copper-based nickel-plated products is crucial. Composite aluminum foil is rapidly applied in consumer electronics, while new nickel-plated products are essential for addressing corrosion issues in sulfide systems [10][12]. - **Competitive Advantages**: Companies like Yinglian and Kecuan have competitive advantages in the composite aluminum foil industry, with Yinglian leading in capacity layout and Kecuan having strong client progress [14]. Conclusion - The solid-state battery sector is poised for significant growth, driven by technological advancements and supportive government policies. The focus on equipment standardization and material innovation will be critical in shaping the future landscape of the industry.

Group 1: Overseas Strategy Research - The current AH premium level still has some room to decline, with the narrowing mainly contributed by traditional industries. Traditional industries like real estate and banking still have room for further narrowing, while emerging industries such as semiconductors and hardware are expected to see a gradual narrowing in the future. A-share first-listed companies have a greater downward space for AH premium [3]. Group 2: Strategy Special Report - The structural recovery continues, with AI + overseas expansion being the core prosperity clues in the second-quarter reports. The performance growth of all A non-financial oil and petrochemical (All A two non) slowed down in 25Q2, but the prosperity clues within the technology growth sector accelerated their spread. The global AI industry resonance and overseas expansion are the core prosperity clues. Mid-cap growth stocks have outstanding performance growth, and the prosperity of hard technology and non-banking sectors is dominant [5][6]. Group 3: Industry Strategy - Comprehensive - Interferon α1b, suitable for the Chinese population, has the advantages of low antigenicity and few adverse reactions. It can be used for common viral diseases and malignant tumors, especially in children. The market is mainly in China and India, with a good competitive landscape. Some injections have been included in the medical insurance, and future demand is expected to increase [10]. Group 4: Industry Tracking Report - Military - The military parade demonstrated the high prosperity of the military industry. New and advanced military equipment was showcased, reflecting China's military technological innovation and strategic deterrence capabilities. The industry demand is highly certain, and with the acceleration of reform and innovation, it is expected to maintain high prosperity. Recommended stocks include AVIC Shenyang Aircraft, AVIC Optoelectronics, etc. [13][14][15]. Group 5: Industry Special Research - Household Appliances - The domestic subsidy effect continues, but the marginal effect is decreasing, and the tariff impact on exports is expected to ease. The overseas revenue proportion of the household appliance sector is increasing, and many companies are expanding into new fields. The performance of some companies in Q2 exceeded expectations, mainly in small household appliances and cleaning appliances. Four investment lines are recommended [18][19][20]. Group 6: Industry Strategy - Textile and Apparel - In 2025, the cumulative export of textiles and clothing in China and Vietnam increased year-on-year. In Q2, the revenue growth of many companies slowed down or declined, and the profit margin was under greater pressure. The short-term tariff impact will end at the end of the year, and future order prosperity is the core variable. Recommended stocks include Bailong Eastern, Jiuxing Holdings, etc. [25][26][27]. Group 7: Industry Tracking Report - Social Services - The investment view recommends AI applications, new retail and renovation, and emotional and experiential consumption stocks. The performance of the retail and consumer service sectors last week was ranked 9th and 14th respectively. Key industry information and company announcements were updated [29][30][31]. Group 8: Industry Semi-annual Report - Textile and Apparel - In 25H1, the Hong Kong stock sports sector led the industry in revenue and net profit growth, while the A-share brand performance was divided. The market expectations for brands after the semi-annual reports were mostly revised downwards, but the sports sector showed more resilience. Four investment lines are recommended [34][35][37]. Group 9: Industry Weekly Report - Petroleum - This week, crude oil trading returned to fundamental factors. The probability of interest rate cuts in the US has increased in the medium and long term, and the demand for crude oil has weakened. Recommended stocks include Xin凤鸣, Tongkun Co., Ltd., etc. [39]. Group 10: Company Semi-annual Report Comment - Quicktron Intelligent - The company achieved steady growth in 25H1, with high growth in contract liabilities laying a foundation for future growth. Benefiting from the high prosperity of the downstream AI industry, the demand for its main business continues to grow. The TCB prototype is expected to be launched within this year, expanding the semiconductor packaging map [40][41][42]. Group 11: Company Semi-annual Report Comment - Runhe Software - In 2025H1, the company's non-recurring profit increased significantly, and the intelligent IoT business maintained high prosperity. The company is making efforts in open-source Hongmeng, open-source Euler, and enterprise-level AI to create new driving forces, and is building an AI full-stack technology system [44][45][46]. Group 12: Overseas Report - China Everbright Holdings - The company is a leader in the private equity industry, with both the asset and liability sides showing improvement inflection points. It focuses on technological innovation and is gradually entering the harvest period. A "buy" rating is given for the first coverage, with a target price of HK$14.18 [49][50][51]. Group 13: Company First Coverage - Hanbell Precise Machinery - The company is a leader in the compressor industry, with healthy operating indicators and strong cash flow generation ability. The demand for data centers is surging, and the demand for magnetic levitation compressors is expanding. The company is expected to benefit from the industry's development, and a "buy" rating is given for the first coverage [54][55][56]. Group 14: Company Semi-annual Report Comment - Ruijie Networks - The company's data center business accounts for more than 50% of its revenue, showing strong income elasticity. The net profit margin shows an inflection point trend, and the expense ratio has decreased. A "buy" rating is maintained, with an upward adjustment of the performance forecast [59][60][61]. Group 15: Company Semi-annual Report Comment - Zhonggong International - The company's semi-annual report shows a decline in net profit but an improvement in gross profit margin and cash flow. Newly signed contracts increased by 33%. It has technical and brand advantages in细分 fields, and its investment and operation business in engineering has achieved multi-point breakthroughs. A "buy" rating is maintained [62][63][64]. Group 16: Company Semi-annual Report Comment - Jiuli Special Material - The company's overseas revenue exceeded domestic revenue in the first half of 2025, indicating significant international development achievements. The composite pipe orders were released, and the welding pipe gross profit margin decreased. The power equipment industry is booming, and the alloy company continues to grow. A "buy" rating is maintained [68][69][70]. Group 17: Company Semi-annual Report Comment - MEI Airtech - The company's operation is stable, and its performance is growing steadily. It actively responds to the overseas expansion of new energy and accelerates global layout to expand downstream markets. Solid-state batteries require higher cleanliness, and the company's clean equipment is expected to benefit first. A "buy" rating is maintained [72][73][74]. Group 18: Company Semi-annual Report Comment - Haimuxing - The company's performance was under pressure in 25H1, but it is expected to improve in the future. Its globalization strategy has achieved remarkable results, and its non-lithium battery business is advancing steadily. With sufficient orders, it has strong performance elasticity. A "buy" rating is given [77][78][79]. Group 19: Company First Coverage - FAW Jiefang - The company is a leading enterprise in China's commercial vehicle industry. Its 2025 semi-annual report was under pressure, but with the recovery of the domestic and overseas markets, its profitability is expected to improve. It is accelerating overseas layout to enhance its profitability. A "buy" rating is given for the first coverage [80][81][83]. Group 20: Company Semi-annual Report Comment - Shenzhou Information - The company's revenue increased steadily in the first half of 2025, and its profit in Q2 significantly reduced losses. Its financial software and service business grew steadily against the trend, and its large customer strategy achieved remarkable results. It has deeply explored the "AI + finance" application, and two strategic products have been implemented in scenarios. A "buy" rating is maintained [84][85][86]. Group 21: Company Semi-annual Report Comment - SAIC Motor - The company's reform results are emerging, and its performance is stabilizing and rebounding. The Huawei project is progressing smoothly, and the first model of the SAIC Shangjie brand is worth looking forward to. A "buy" rating is maintained [89][90]. Group 22: Company Semi-annual Report Comment - China World Trade Center - The company's revenue and profit decreased year-on-year in 2025H1, and the rent and occupancy rate of each business format fluctuated. The China World Trade Center supports its core revenue. A "buy" rating is maintained [92][93][94].

Summary of Key Points Core Viewpoint - The company, HaiMuxing Laser Technology Group Co., Ltd., plans to provide financial assistance to its subsidiary, XingNengMaoYe (Guangdong) Photovoltaic Technology Co., Ltd., with a total amount not exceeding 100 million RMB to support its rapid development and alleviate financing difficulties [2][3][12]. Group 1: Financial Assistance Details - The company will provide financial assistance of up to 80 million RMB, with a validity period of 36 months from the date of board approval, allowing for revolving use of the loan amount [2][3]. - The financial assistance amount has been increased to 100 million RMB to further support the subsidiary's operational needs [3][11]. - The financial assistance constitutes a related party transaction but does not meet the criteria for a major asset restructuring as per regulations [2][12]. Group 2: Related Party Information - The chairman and general manager, Zhao Shengyu, and the director and deputy general manager, Zhou Yuchao, are considered related parties due to their shareholding in the subsidiary and have recused themselves from voting on this matter [4][13]. - The company has confirmed that there are no other significant relationships between the related parties and the company that could affect the transaction [8][10]. Group 3: Subsidiary Overview - XingNengMaoYe was established on August 24, 2023, with a registered capital of approximately 31.31 million RMB, focusing on solar power technology services and related activities [9]. - The subsidiary's current debt-to-asset ratio exceeds 70%, indicating a high level of financial leverage [2][12]. Group 4: Approval Process - The financial assistance proposal has been approved by the independent directors, the board of directors, and the supervisory board, with all necessary procedures followed [12][15]. - The proposal will be submitted for approval at the upcoming shareholders' meeting scheduled for September 22, 2025 [21][32].

Group 1 - The A-share market showed significant differentiation, with solid-state batteries experiencing a strong rally, while the banking sector collectively retreated [1] - Companies such as Tianhong Lithium Battery and Tianji Co. achieved consecutive gains, while Sunshine Power reached a historical high with over a 10% increase [1] - The China Automotive Engineering Society will hold a review meeting for solid-state battery standards in September 2025, indicating ongoing developments in the sector [1] Group 2 - Guoxuan High-Tech announced that its first solid-state pilot line is now operational, with a yield rate of 90% for its solid-state batteries [2] - CATL disclosed that scientific issues in the solid-state battery industry have been largely resolved, with small-scale production expected by 2027 [2] - Equipment companies have seen a significant increase in order demand, with total new orders exceeding 30 billion yuan, reflecting a year-on-year growth of 70% to 80% [2] Group 3 - Institutional research reports are increasingly optimistic about solid-state batteries, highlighting their safety and energy density advantages in various applications [3] - The industry is expected to enter a mainline market phase as pilot lines are established by leading manufacturers by 2025, with production lines expected to break through in 2026 [3] - The acceleration of the industrialization process for solid-state batteries is anticipated, with several automakers planning to adopt them around 2027 [3]