Core Points - The company has adjusted its profit distribution plan for 2024, maintaining a cash dividend of 1.20 CNY per share while increasing the total cash dividend amount from 143,596,018.80 CNY to 143,675,436.00 CNY [2][7] - The company plans to increase its capital reserve by issuing 4 new shares for every 10 shares held, with the total number of shares to be issued adjusted from 47,865,340 to 47,891,812 [2][7] - The adjustments were made due to the completion of the first phase of the 2023 restricted stock incentive plan, which resulted in a decrease in the number of shares in the company's repurchase account [2][6][7] Profit Distribution and Capital Increase Plan - Prior to the adjustment, the company planned to distribute a cash dividend of 12 CNY per 10 shares, totaling 143,596,018.80 CNY, which accounted for 31.18% of the net profit attributable to shareholders for 2024 [3][7] - After the adjustment, the cash dividend remains at 12 CNY per 10 shares, with the total cash dividend now amounting to 143,675,436.00 CNY, representing 31.27% of the net profit for 2024 [7] - The total number of shares after the capital increase will rise to 167,937,371 shares [7] Shareholder Meeting - The annual shareholder meeting was held on May 29, 2025, where all proposed resolutions were approved, including the profit distribution and capital increase plan [10][12] - The meeting was conducted in compliance with legal and regulatory requirements, with all board members present [12][13] Stock Incentive Plan - The company completed the first phase of the 2023 restricted stock incentive plan, with a total of 66,181 shares being vested [17][26] - The shares for this incentive plan were sourced from shares repurchased from the secondary market, ensuring that the total share capital remains unchanged [25][26]

Core Points - The company announced the results of the first vesting period for its 2023 restricted stock incentive plan, with a total of 66,181 shares vested [1][7] - The vested shares were sourced from the company's repurchase of its A-share common stock from the secondary market [1][7] - A total of 33 individuals are included as incentive recipients, with specific allocations for technical and business backbone personnel [6][7] Group 1: Incentive Plan Overview - The decision-making process for the incentive plan involved multiple board and supervisory meetings, with independent directors providing opinions [2][4] - The plan was publicly disclosed on the Shanghai Stock Exchange, and no objections were raised during the internal announcement period [3][4] - The plan includes a mechanism for adjusting the grant price and has undergone several reviews and approvals throughout its implementation [5][6] Group 2: Share Allocation Details - The total number of shares granted to the incentive recipients is 222,136, with 66,181 shares now vested [6][7] - The allocation includes 200,598 shares for technical backbone personnel and 21,538 shares for business backbone personnel, representing 29.77% and 30% of their respective total allocations [6][7] - The shares vested do not include any for the company's directors and senior management [6][7] Group 3: Financial and Regulatory Compliance - The company received a total of RMB 4,240,943.24 from the incentive recipients as subscription payments, which were deposited in a designated bank account [7] - The total number of shares remains unchanged at 120,045,559, as the shares were sourced from repurchased stock [7] - The company has completed the necessary registration procedures for the vested shares, confirmed by the China Securities Depository and Clearing Corporation [7]

证券代码：688608 证券简称：恒玄科技 公告编号：2025-028 恒玄科技（上海）股份有限公司 2024年年度股东大会决议公告 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） 股东大会召开的时间：2025 年 5 月 29 日 （二） 股东大会召开的地点：上海市浦东新区金科路 2889 弄长泰广场 B 座公 司会议室 1、 公司在任董事9人，出席9人； 2、 公司在任监事3人，出席3人； 3、 董事会秘书李广平女士出席了本次会议。 （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 | 227 | | --- | --- | | 普通股股东人数 | 227 | | 2、出席会议的股东所持有的表决权数量 | 49,313,579 | | 普通股股东所持有表决权数量 | 49,313,579 | | 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 | 41 ...

重要内容提示： 恒玄科技（上海）股份有限公司（以下简称"公司"）调整 2024 利润分配 拟每股派发现金红利 1.20 元（含税）不变，现金分红总额由人民币 143,596,018.80 元（含税）调整为 143,675,436.00 元（含税）。 公司 2024 年度拟向全体股东每 10 股以公积金转增 4 股不变，转增股本 的数量由 47,865,340 股调整为 47,891,812 股（最终以中国证券登记结算有限责任 公司上海分公司登记结果为准）。 本次调整原因：自公司 2024 年度利润分配及资本公积转增股本方案披露 之日起至本公告披露日，完成 2023 年限制性股票激励计划预留授予部分第一期 归属共计 6.6181 万股，股票来源于公司回购专用证券账户回购的股票。上述事 项导致公司回购专用证券账户中股份数由 382,210 股减少至 316,029 股，公司总 股 本扣 除公 司回 购 专用 证券 账 户中 股份 的基 数 由 119,663,349 股 调整 为 119,729,530 股。公司拟维持每股分配比例及每股转增比例不变，相应调整分配 及转增总额。 一、调整前利润分配及资本公积转增股本 ...

关于公司 2023 年限制性股票激励计划预留授予部分 第一个归属期归属结果的公告 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： 根据中国证券监督管理委员会、上海证券交易所、中国证券登记结算有限责 任公司上海分公司相关业务规定，恒玄科技（上海）股份有限公司（以下简称"公 司"）于 2025 年 5 月 29 日收到中国证券登记结算有限责任公司上海分公司出具 的《过户登记确认书》，公司完成了 2023 年限制性股票激励计划（以下简称"本 次激励计划"）预留授予部分第一个归属期的股份登记工作。现将有关情况公告 如下： 一、本次限制性股票激励计划的决策程序和信息披露情况 证券代码：688608 证券简称：恒玄科技 公告编号：2025-027 恒玄科技（上海）股份有限公司 （一）2023 年 8 月 1 日，公司召开第二届董事会第六次会议，审议通过了 《关于公司<2023 年限制性股票激励计划（草案）>及其摘要的议案》《关于公司 <2023 年限制性股票激励计划实施考核管理办法>的议案》《关于提请股东大会授 权董事 ...

上海市锦天城律师事务所关于 恒玄科技（上海）股份有限公司 2024 年年度股东大会的 法律意见书 地址：上海市浦东新区银城中路 501 号上海中心大厦 11、12 楼 电话：021-20511000 传真：021-20511999 邮编：200120 上海市锦天城律师事务所 法律意见书 上海市锦天城律师事务所 关于恒玄科技（上海）股份有限公司 2024 年年度股东大会的法律意见书 致：恒玄科技（上海）股份有限公司 根据《中华人民共和国证券法》（以下简称"《证券法》"）《中华人民共和国 公司法》（以下简称"《公司法》"）和中国证券监督管理委员会（以下简称"中国 证监会"）《上市公司股东会规则》（以下简称"《股东会规则》"）等法律、法规和 有关规范性文件的要求，上海市锦天城律师事务所（以下简称"本所"）接受恒 玄科技（上海）股份有限公司（以下简称"恒玄科技"或"公司"）的委托，指 派本所律师参加恒玄科技 2024 年年度股东大会（以下简称"本次股东大会"）， 并出具本法律意见书。 本法律意见书仅供本次股东大会之目的使用。本所律师同意将本法律意见书 随恒玄科技本次股东大会其他信息披露资料一并公告。 本所律师根据《证 ...

Investment Rating - The report assigns a "Buy" rating for the company, marking its first coverage [1]. Core Views - The company is positioned as a leading platform-type SoC chip manufacturer, exploring new opportunities in the AI glasses and wearable markets [1]. - The company's revenue and net profit are expected to reach historical highs in 2024, indicating strong growth momentum [1]. - The shift towards high-margin smart Bluetooth audio chips and the expansion into smartwatches and glasses markets are key drivers for future growth [1]. Summary by Sections Company Overview - The company, established in 2015, specializes in low-power wireless SoC chips, with applications in AIoT scenarios, including smart wearables and home devices [12]. - The product lineup includes various generations of smart audio chips, with significant partnerships with major brands like Xiaomi, OPPO, and Huawei [12]. Financial Analysis - The company achieved a revenue of 3,263 million yuan in 2024, a year-on-year increase of 49.94%, and a net profit of 460.47 million yuan, up 272.47% [1][20]. - The revenue structure is diversifying, with significant growth in the smartwatch segment, which is expected to contribute 1,045 million yuan in revenue in 2024, a 116% increase year-on-year [22]. TWS Market - The TWS earphone market is experiencing a new growth phase driven by AI capabilities, enhancing user experience with features like real-time translation and intelligent noise cancellation [32][33]. - The company is well-positioned to challenge Qualcomm's ecosystem by offering competitive products across various price segments, with a market share of 16.07% in TWS chip applications [49]. Smartwatch and Wearable Devices - The global wearable wristband market is projected to grow, with the company focusing on smartwatches as a new growth engine, leveraging its advanced chip technology [58]. - The BES2800 chip, launched in 2024, integrates multiple functionalities and is expected to drive significant growth in the smartwatch market [59]. Profit Forecast and Investment Recommendations - The company is projected to achieve revenues of 48.40 billion yuan in 2025, 64.72 billion yuan in 2026, and 79.80 billion yuan in 2027, with corresponding net profits of 9.3 billion yuan, 13.2 billion yuan, and 17.4 billion yuan [1]. - The current P/E ratios are 49, 35, and 26 for the years 2025, 2026, and 2027, respectively, which are slightly below the industry average, indicating potential for valuation appreciation [1].

Investment Rating - The report assigns a "Buy" rating for the company, marking its first coverage [1]. Core Views - The company is positioned as a leading platform-type SoC chip manufacturer, exploring new opportunities in AI glasses and wearable technology [1]. - The company's revenue and net profit are expected to reach historical highs in 2024, indicating strong growth momentum [1]. - The shift towards high-margin smart Bluetooth audio chips and the expansion into smartwatch and AI glasses markets are key growth drivers [1]. Summary by Sections Company Overview - The company, established in 2015, specializes in low-power wireless SoC chips, with applications in AIoT scenarios, including smart wearables and smart home devices [12]. - The product lineup includes various smart audio chips, with significant partnerships with major brands like Xiaomi, OPPO, and Huawei [12]. Financial Analysis - The company achieved a revenue of 3,263 million yuan in 2024, a year-on-year increase of 49.94%, and a net profit of 460.47 million yuan, up 272.47% [1][20]. - The revenue structure is diversifying, with significant growth in the smartwatch segment, which is expected to contribute 1,045 million yuan in revenue in 2024, a 116% increase year-on-year [22]. TWS Market - The TWS earphone market is experiencing a new growth phase driven by AI capabilities, enhancing user experience with features like real-time translation and smart noise cancellation [32]. - The company maintains a leading position in the TWS SoC market, with a 16.07% share of the main control chips in TWS products [49]. Smartwatch and Wearable Devices - The global wearable wristband market is projected to grow, with the company actively entering the smartwatch sector, launching the BES2800 chip in 2024 [58]. - The company’s smart wearable chips are expected to see strong growth, with the BES2800 chip already integrated into flagship products like OPPO Watch X2 [59]. Profit Forecast and Investment Recommendation - The company is projected to achieve revenues of 48.40 billion yuan in 2025, 64.72 billion yuan in 2026, and 79.80 billion yuan in 2027, with corresponding net profits of 9.3 billion yuan, 13.2 billion yuan, and 17.4 billion yuan [1]. - The current P/E ratios are 49, 35, and 26 for the years 2025, 2026, and 2027, respectively, which are slightly below the industry average, indicating potential for valuation appreciation [1].

Core Viewpoint - The annual shareholder meeting of Hengxuan Technology (Shanghai) Co., Ltd. will discuss various proposals including the board and supervisory reports, financial statements, profit distribution, and the use of idle funds for financial products. Group 1: Meeting Proposals - Proposal 1: The board's work report for 2024 will be presented, highlighting the company's operational achievements and governance improvements [9]. - Proposal 2: The supervisory board's work report for 2024 will be discussed, focusing on compliance and oversight of the company's operations [10]. - Proposal 3: The annual report and summary for 2024 will be reviewed, detailing the company's financial performance and strategic direction [11]. - Proposal 4: The financial settlement report for 2024 will be presented, confirming that the financial statements have been audited and reflect the company's true financial status [12]. - Proposal 5: A profit distribution and capital reserve conversion plan will be proposed, with a net profit of 460.47 million yuan for 2024, suggesting a distribution of 31.18% of the net profit [12][13]. - Proposal 6: The reappointment of the accounting firm for 2025 will be discussed, emphasizing the firm's experience and reliability [14]. - Proposal 7: The remuneration plan for directors and supervisors for 2025 will be proposed, including specific compensation details [15]. - Proposal 8: A plan to use up to 4 billion yuan of idle funds for purchasing low-risk financial products will be presented, aimed at ensuring the safety and liquidity of the funds [16]. Group 2: Financial Performance - The company achieved a revenue of 3.26 billion yuan in 2024, representing a 49.94% increase compared to the previous year [18][29]. - The net profit attributable to shareholders reached 460.47 million yuan, marking a significant increase of 272.47% year-on-year [18][29]. - The net profit after deducting non-recurring gains and losses was 394.60 million yuan, reflecting a remarkable growth of 1,279.13% compared to the previous year [18][29].

恒玄科技（上海）股份有限公司 2024 年年度股东大会会议资料 证 券 代 码 ： 6 8 8 6 0 8 证 券 简 称 ： 恒 玄 科 技 恒玄科技（上海）股份有限公司 2024 年年度股东大会会议资料 2025 年 5 月 | 2024 | 年年度股东大会会议须知 | 3 | | --- | --- | --- | | 2024 | 年年度股东大会会议议程 | 5 | | | 年度董事会工作报告》的议案 议案一、关于《2024 | 7 | | | 议案二、关于《2024 年度监事会工作报告》的议案 | 8 | | | 年年度报告》及摘要的议案 议案三、关于《2024 | 9 | | | 议案四、关于《2024 年度财务决算报告》的议案 | 10 | | | 议案五、关于 年度利润分配及资本公积转增股本方案的议案 2024 | 11 | | | 议案六、关于续聘会计师事务所的议案 | 13 | | | 议案七、关于公司董事、监事 年度薪酬方案的议案 2025 | 14 | | | 议案八、关于使用闲置自有资金购买理财产品的议案 | 15 | | | 年度董事会工作报告》 附件一：《2024 | 16 | ...