Core Viewpoint - The company, Jiangsu Pioneer Precision Technology Co., Ltd., has shown a decline in stock performance and profitability, with a notable decrease in net profit year-on-year, while maintaining a significant portion of its financing in the market [1][2]. Group 1: Stock Performance - On September 2, Pioneer Precision's stock fell by 3.87%, with a trading volume of 222 million yuan [1]. - The financing buy-in amount on the same day was 29.70 million yuan, while the financing repayment was 26.18 million yuan, resulting in a net financing buy of 3.52 million yuan [1]. - As of September 2, the total financing and securities lending balance was 259 million yuan, accounting for 10.20% of the circulating market value [1]. Group 2: Financial Performance - For the first half of 2025, the company reported a revenue of 655 million yuan and a net profit attributable to shareholders of 106 million yuan, reflecting a year-on-year decrease of 5.39% [2]. - Cumulative cash dividends since the A-share listing amounted to 40.48 million yuan [2]. Group 3: Shareholder Structure - As of June 30, 2025, the number of shareholders decreased by 19.95% to 13,000, while the average circulating shares per person increased by 32.91% to 3,104 shares [2]. - The largest circulating shareholder, Southern Information Innovation Mixed A, held 2.25 million shares, an increase of 1.09 million shares compared to the previous period [2]. - New shareholders included Huaxia Stable Growth Mixed and Western Benefit Event-Driven Stock A, with respective holdings of 271,800 shares and 263,400 shares [2].

Core Viewpoint - The recent financial report of Pioneer Precision (688605) shows a mixed performance with a revenue increase but a decline in net profit, highlighting concerns over accounts receivable and profitability metrics [1][2]. Financial Performance - For the first half of 2025, the company reported total revenue of 655 million yuan, a year-on-year increase of 19.52%, while the net profit attributable to shareholders was 106 million yuan, a decrease of 5.39% [1]. - In Q2 2025, total revenue reached 355 million yuan, up 7.07% year-on-year, but net profit fell to 64.21 million yuan, down 1.91% [1]. - The gross margin was 30.28%, down 15.02% year-on-year, and the net margin was 16.22%, down 20.84% [1]. - The company's accounts receivable amounted to 484 million yuan, representing 226.34% of the net profit, indicating potential liquidity issues [1][2]. Business Model and Strategy - The company's performance is primarily driven by capital expenditures, necessitating careful evaluation of the profitability of these investments and the potential financial pressures they may impose [2]. - The company plans to enhance its R&D and improve processes to meet increasing customer demands for component cleanliness and yield, aiming for better performance in the latter half of 2025 [3]. Industry Context - The domestic semiconductor equipment and component industry has seen an increase in localization rates since 2017-2018, driven by national policies and sanctions, with ongoing improvements expected [3]. - Approximately 20% of the components supplied by the company are used in advanced processes, indicating a focus on high-tech applications [3].

Core Viewpoint - Jiangsu Pioneer Precision Technology Co., Ltd. reported a steady growth in sales revenue and performance scale, benefiting from the continuous advancement of domestic semiconductor equipment localization [5][9]. Financial Performance - The company achieved operating revenue of 654.52 million yuan in the first half of 2025, a year-on-year increase of 19.52% compared to 547.61 million yuan in the same period last year [4]. - Total profit for the period was 123.44 million yuan, down 3.81% from 128.33 million yuan year-on-year [4]. - Net profit attributable to shareholders was 106.19 million yuan, a decrease of 5.39% from 112.24 million yuan in the previous year [4]. - The company's net assets increased by 4.87% to 1.55 billion yuan compared to the end of the previous year [4]. Industry Overview - The semiconductor equipment industry is crucial, with the technology directly impacting chip manufacturing precision and efficiency [9]. - According to SEMI, global semiconductor manufacturing equipment shipments reached a historical high of 117.1 billion USD in 2024, a 10% increase from 2023 [9]. - The domestic semiconductor equipment market continues to grow, with China maintaining its position as the largest market for semiconductor equipment [9]. Business Operations - The company specializes in precision metal components for semiconductor etching and deposition equipment, characterized by small batch, multi-batch, and customization [9][10]. - The company has established a strong technical barrier through accumulated precision manufacturing technology and surface treatment technology [10][11]. - The company has a direct sales model, negotiating prices based on production costs and market conditions [11]. Research and Development - The company increased R&D investment to 34.49 million yuan, a year-on-year growth of 7.29%, accounting for 5.27% of operating revenue [10][12]. - As of June 30, 2025, the company holds 108 approved patents, including 36 invention patents [10][12]. - The company focuses on advanced process research to enhance the core performance of domestically produced products and achieve import substitution [10][12]. Strategic Development - The company is expanding its strategic business segments into medical, aerospace, and module products, creating new profit growth points [10][12]. - The company has established deep cooperation with leading domestic semiconductor equipment manufacturers, enhancing its market position [10][12]. - The company is committed to improving its internal governance structure and enhancing information disclosure management [12].

无 江苏先锋精密科技股份有限公司2025 年半年度报告摘要 公司代码：688605 公司简称：先锋精科 江苏先锋精密科技股份有限公司 江苏先锋精密科技股份有限公司2025 年半年度报告摘要 第一节 重要提示 规划，投资者应当到上海证券交易所网站：www.sseinfo.com 网站仔细阅读半年度报告全文。 报告期内，不存在对公司生产经营产生实质性影响的特别重大风险。公司已在本报告中详细描述 可能存在的相关风险，敬请查阅本报告"第三节 管理层讨论与分析"之"四、风险因素"部分内 容。 完整性，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 无 □适用 √不适用 第二节 公司基本情况 公司股票简况 公司股票简况 股票种类 股票上市交易所 股票简称 股票代码 变更前股票简称 人民币普通股（A 上海证券交易所科 先锋精科 688605 / 股） 创板 公司存托凭证简况 □适用 √不适用 联系人和联系方式 联系人和联系方式 董事会秘书（信息披露境内代 证券事务代表 表） 姓名 XIE MEI 王兆俊 江苏先锋精密科技股份有限公司2025 年半年度报告摘要 电话 0523-85110266 0523- ...

证券代码：688605 证券简称：先锋精科 公告编号：2025-026 江苏先锋精密科技股份有限公司 第一届董事会第十八次会议决议公告 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、准确性和完整性承担法律责任。 江苏先锋精密科技股份有限公司（以下简称"公司"）第一届董 事会第十八次会议（以下简称"本次会议"）于 2025 年 8 月 28 日以 现场结合通讯方式召开，本次会议为临时会议，公司已提前以电子邮 件方式通知全体董事。会议应到董事 7 人，实到董事 7 人（其中非独 立董事 4 人，独立董事 3 人）。本次会议由董事长游利先生主持，本 次会议的召集、召开程序、内容符合《中华人民共和国公司法》（以 下简称"《公司法》"）和《江苏先锋精密科技股份有限公司章程》 （以下简称"《公司章程》"）的规定，会议合法有效。 一、董事会会议召开情况 二、董事会会议审议情况 经与会董事认真讨论研究，会议作出如下决议： （一）审议通过《关于公司 2025 年半年度报告及摘要的议案》 公司 2025 年半年度报告及其摘要的编制和审议程序符合相关法 律法规及《公司章程》等 ...

证券代码：688605 证券简称：先锋精科 公告编号：2025-027 （www.sse.com.cn）披露的《江苏先锋精密科技股份有限公司 2025 年半年度报告》和《江苏先锋精密科技股份有限公司 2025 年半年度 报告摘要》。 江苏先锋精密科技股份有限公司 第一届监事会第十六次会议决议公告 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、准确性和完整性承担法律责任。 一、监事会会议召开情况 江苏先锋精密科技股份有限公司（以下简称"公司"）第一届监 事会第十六次会议（以下简称"本次会议"）于 2025 年 8 月 28 日以 现场结合通讯方式召开，本次会议为临时会议，公司已提前以电子邮 件方式通知全体监事。会议应到监事 3 人，实到监事 3 人。本次会议 由监事会主席管明月先生主持，本次会议的召集、召开程序、内容符 合《中华人民共和国公司法》（以下简称"《公司法》"）和《江苏 先锋精密科技股份有限公司章程》（以下简称"《公司章程》"）的 规定，会议合法有效。 二、监事会会议审议情况 经与会监事认真讨论研究，会议作出如下决议： （一）审议通过《关于公司 ...

证券代码：688605 证券简称：先锋精科 公告编号：2025-028 江苏先锋精密科技股份有限公司 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、准确性和完整性承担法律责任。 根据中国证券监督管理委员会《上市公司募集资金监管规则》 （证 监会公告〔2025〕10号）、《上海证券交易所科创板上市公司自律监 管指引第1号——规范运作》以及《上海证券交易所科创板股票上市 规则》的相关规定，江苏先锋精密科技股份有限公司（以下简称"公 司"或"本公司"）董事会编制了2025年半年度（以下简称"报告期" ） 募集资金存放、管理与实际使用情况的专项报告如下： 一、募集资金基本情况 （一）实际募集资金金额及资金到位情况 经中国证券监督管理委员会《关于同意江苏先锋精密科技股份有 限公司首次公开发行股票注册的批复》（证监许可[2024]1325 号）核 准，并经上海证券交易所同意，本公司由主承销商华泰联合证券有限 责任公司（以下简称"华泰联合"）2024 年 11 月 29 日向社会公众 首次公开发行人民币普通股（A 股）50,595,000 股（面值人民币 1 元 ...

Core Viewpoint - Jiangsu Pioneer Precision Technology Co., Ltd. has released its 2025 "Quality Improvement and Efficiency Enhancement Return" action plan, focusing on enhancing operational quality and investor returns through strategic initiatives and market expansion [1]. Group 1: Business Operations and Financial Performance - In the first half of 2025, the company achieved a total revenue of 655 million yuan, representing a year-on-year growth of 19.52%, with a net profit attributable to shareholders of 106 million yuan [1]. - The company is deepening its focus on the semiconductor equipment components sector while exploring new products in medical and aerospace fields, enhancing its market competitiveness [1][2]. Group 2: Market Expansion and Customer Collaboration - The company is rapidly expanding dedicated production capacity for key strategic customers, improving quality and delivery competitiveness [2]. - Collaborative research and development with leading industry clients have led to successful trials in surface treatment, clean technology, and special coatings, with several projects entering the sampling and small-batch trial production stages [2]. Group 3: Research and Development Investment - The company has increased its R&D investment to 34.4871 million yuan, a year-on-year increase, focusing on high-temperature anodizing, high-density spraying, and core functional components [3]. - As of June 30, 2025, the company holds 108 patent authorizations, including 36 invention patents and 72 utility model patents, with a significant number of core technologies yet to be disclosed [3]. Group 4: Investor Returns and Communication - The company distributed cash dividends totaling 40,475,971.20 yuan (including tax) to shareholders based on the 2024 profit distribution plan [3]. - The company emphasizes high-quality information disclosure and investor communication, utilizing various channels to engage with investors and enhance understanding of the company's operations [4][5]. Group 5: Corporate Governance - The company is committed to improving its governance structure, adhering to relevant laws and regulations, and enhancing internal control management [5][6]. - Ongoing efforts include anti-fraud and anti-bribery audits, internal training, and compliance awareness initiatives to strengthen operational efficiency and governance standards [6][7].

保荐人名称：华泰联合证券有限责任公司 被保荐公司简称：先锋精科 保荐代表人姓名：刘天宇 联系电话：0512-85883377 保荐代表人姓名：刘一为 联系电话：0512-85883377 根据《证券法》《证券发行上市保荐业务管理办法》和《上海证券交易所科 创板股票上市规则》等有关法律、法规的规定，华泰联合证券有限责任公司（以 下简称"华泰联合证券"或"保荐人"）作为江苏先锋精密科技股份有限公司（以下 简称"先锋精科""公司"）首次公开发行股票并在科创板上市的保荐人，对先锋精 科进行持续督导，并出具本持续督导跟踪报告： 一、保荐人和保荐代表人发现的问题及整改情况 无。 二、重大风险事项 华泰联合证券有限责任公司 关于江苏先锋精密科技股份有限公司 2025 年半年度持续督导跟踪报告 公司目前面临的风险因素主要如下： （一）技术风险 1、无法跟随技术升级迭代的风险 公司所处的半导体设备精密零部件行业属于技术密集型行业，随着芯片制程 的不断升级，半导体设备及半导体设备零部件厂商必须紧跟晶圆制造等产业链下 游厂商的需求不断提高工艺水平以及产品性能，从而对公司的研发能力、工艺水 平不断提出更高要求。此外，对于同一代工艺制 ...

Core Viewpoint - Jiangsu Pioneer Precision Technology Co., Ltd. reported a revenue of 655 million yuan for the first half of 2025, marking a year-on-year increase of 19.52%, with a net profit attributable to shareholders of 106 million yuan [1] Group 1: Financial Performance - The company achieved total operating revenue of 655 million yuan, reflecting a year-on-year growth of 19.52% [1] - The net profit attributable to shareholders reached 106 million yuan [1] Group 2: Research and Development - The company emphasizes research and development, with R&D expenses amounting to 34.4871 million yuan, an increase of 7.29% year-on-year [1] - During the reporting period, the company filed 21 new patent applications, including 6 invention patents and 15 utility model patents [1] - As of the end of June, the company has accumulated a total of 108 approved patents, comprising 36 invention patents and 72 utility model patents, all applied to its main business [1] Group 3: Market Position and Future Plans - The company is a key supplier of precision components for semiconductor etching and thin film deposition equipment in China [1] - In response to increasing customer demands for component cleanliness and yield, the company plans to increase R&D investment and improve processes in the second half of the year [2] - The company aims to expand into other high-end equipment sectors such as medical and aerospace manufacturing [2]