证券代码：688676 证券简称：金盘科技 公告编号：2026-003 海南金盘智能科技股份有限公司 关于使用募集资金向全资子公司提供借款以实施募 集资金投资项目的公告 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： 海南金盘智能科技股份有限公司（以下简称"金盘科技"或"公司"）于 2026 年 1 月 4 日召开第三届董事会独立董事专门会议第七次会议、第三届董事 会审计委员会第十四次会议、2026 年 1 月 7 日召开第三届董事会第三十一次会 议，审议通过了《关于使用募集资金向全资子公司提供借款实施募投项目的议案》， 同意公司以可转债募集资金向浙江金盘实业有限公司（以下简称"浙江金盘"） 提供总额不超过 52,781.83 万元（含 52,781.83 万元）借款用于实施"数据中心电 源模块等成套系列产品数字化工厂项目（桐乡）"、"VPI 变压器数字化工厂项 目（桐乡）"及"研发办公楼建设项目（桐乡）"；向武汉金盘智能科技有限公 司（以下简称"武汉金盘智能"）提供总额不超过 16,493.00 万元（含 ...

证券代码：688676 证券简称：金盘科技 公告编号：2026-007 海南金盘智能科技股份有限公司 关于开立募集资金现金管理专用结算账户的公告 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。 | 开户主体 | 开户机构 | 账号 | | --- | --- | --- | | 海南金盘智能科技股份有限公司 | 广发证券海口和平大道营业部 | 9643555 | 根据《上市公司募集资金监管规则》《上海证券交易所科创板股票上市规则》 《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》等相关法 律法规、规章及其他规范性文件的规定，上述账户仅用于部分闲置募集资金进行 现金管理的专用结算，不得用于存放非募集资金或用作其他用途。 二、风险控制措施 1、为控制风险，公司进行现金管理时，将选择安全性高、流动性好、满足 保本要求的投资产品（包括但不限于保本型理财产品、结构性存款、通知存款、 定期存款、大额存单、协定存款、收益凭证等），明确投资产品的金额、期限、 投资品种、双方的权利义务及法律责任等，投资风险较小，在企业可控 ...

证券代码：688676 证券简称：金盘科技 公告编号：2026-004 海南金盘智能科技股份有限公司 关于使用募集资金置换预先已投入募投项目及已支 付发行费用自筹资金的公告 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： 海南金盘智能科技股份有限公司（以下简称"金盘科技"或"公司"）于 2026 年 1 月 4 日召开第三届董事会独立董事专门会议第七次会议、第三届董事 会审计委员会第十四次会议、2026 年 1 月 7 日召开第三届董事会第三十一次会 议审议通过了《关于使用募集资金置换预先已投入募投项目及已支付发行费用自 筹资金的议案》，同意公司使用募集资金置换预先投入募投项目的自筹资金和预 先支付的发行费用合计人民币 17,871.88 万元。本次以募集资金置换预先已投入 募投项目及已支付发行费用的自筹资金不影响募投项目的正常进行，置换时间距 募集资金到账时间未超过 6 个月，符合相关法规要求。 一、募集资金基本情况 经中国证券监督管理委员会出具《关于同意海南金盘智能科技股份有限公司 向不特定对象发行可转 ...

证券代码：688676 证券简称：金盘科技 公告编号：2026-006 海南金盘智能科技股份有限公司 关于使用闲置募集资金进行现金管理的公告 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、准确性和完整性承担法律责任。 重要内容提示： 投资种类：包括但不限于保本型理财产品、结构性存款、通知存款、 定期存款、大额存单、协定存款、收益凭证等。 投资金额：不超过人民币 80,000 万元 已履行及拟履行的审议程序：海南金盘智能科技股份有限公司（以下 简称"金盘科技"或"公司"）于 2026 年 1 月 4 日召开第三届董事会审计委 员会第十四次会议、2026 年 1 月 7 日召开第三届董事会第三十一次会议，审 议通过了《关于使用部分暂时闲置募集资金进行现金管理的议案》，该事项 在董事会审批权限范围内，无需提交公司股东会审议。 特别风险提示：公司尽管选择购买安全性高、流动性好、满足保本要 求的投资产品，但金融市场受宏观经济的影响较大，公司将根据经济形势以 及金融市场的变化适时适量地投入，但不排除该项投资受到市场波动的影响。 一、投资情况概述 （一）投资目的 由于 ...

Core Viewpoint - The company plans to utilize up to RMB 800 million of temporarily idle raised funds for cash management, ensuring that it does not affect the normal progress of its fundraising investment projects [1] Group 1: Board Meetings - The company held the 14th meeting of the Audit Committee of the third board on January 4, 2026, and the 31st meeting of the third board on January 7, 2026 [1] Group 2: Fund Management - The company intends to use the idle funds for a maximum period of 12 months, with the possibility of rolling use within the specified limit and timeframe [1] - Investment products selected will include high safety, good liquidity, and capital preservation requirements, such as principal-protected financial products, structured deposits, notice deposits, time deposits, large certificates of deposit, agreed deposits, and income certificates [1] Group 3: Impact on Operations - The cash management initiative will not impact the progress of fundraising investment projects or the company's normal production and operations [1]

Summary of Conference Call on Power Equipment Industry Industry Overview - The power equipment industry is experiencing significant growth in overseas demand, particularly in North America, with a notable increase in exports from China to the region. [1][2] - In the first 11 months of 2025, China's transformer exports to North America surged by 154%, with exports to the U.S. increasing by 173%. [2] Key Insights and Arguments - **Foreign Brands Performance**: Major foreign brands like Eaton, GE, and ABB have shown strong performance in the North American market, with Eaton reporting a 70% increase in new orders and a 40% rise in revenue. GE's orders doubled, and ABB's orders also saw significant growth. [3] - **Supply-Demand Gap**: The U.S. market faces a substantial supply-demand gap, with medium and high-voltage transformers in demand exceeding supply by 30% and 10%, respectively. The shortage is most severe for transformers rated at 330 kV and above. [4] - **Pricing and Profit Margins**: Transformer prices in the U.S. are approximately 3-4 times higher than in China, with a 138 kV transformer priced around $2.6 million, potentially exceeding $3 million for urgent deliveries. Profit margins for 35 kV distribution transformers exceed 50%. [5] Domestic Companies Opportunities - Domestic companies such as Siyi Electric, Jiangsu Huapeng, and Jinpan Technology are poised to expand their business in North America. Siyi Electric anticipates a net profit growth of about 40% in 2025 and 2026, while Jinpan Technology expects a 25% growth in 2026. [6] Saudi Arabia's Investment in Power Equipment - Saudi Arabia plans to invest approximately 930 billion RMB (around $500 billion) in power transmission and distribution from 2024 to 2030, with a significant increase in renewable energy capacity expected. [7] - The country requires a 75% localization rate by 2030, prompting many domestic companies to consider establishing manufacturing facilities in Saudi Arabia. [8] Company-Specific Developments - **Hua Ming Equipment**: The company is seeking partnerships in Saudi Arabia, with an estimated demand for 7,000 high and ultra-high voltage transformers. [9] - **TBEA**: The company has made significant inroads in Saudi Arabia, winning a bid for 1,200 high and ultra-high voltage transformers, with plans to establish a production base in the region. [11] - **Samsung Medical**: The company has seen substantial growth in overseas distribution orders, particularly in Europe, Saudi Arabia, and Latin America, and plans to expand its product line and country coverage. [12] Domestic Investment Trends - The domestic power grid investment is expected to grow at a compound annual growth rate of 5% during the 14th Five-Year Plan, with a focus on accelerating investment in the latter half of the plan. [13] - Price increases for domestic distribution equipment have been noted, with margins recovering from previous lows, indicating a potential turning point in profitability. [14] Conclusion - The power equipment industry is positioned for growth, driven by strong demand in North America and significant investments in regions like Saudi Arabia. Domestic companies are well-placed to capitalize on these opportunities, with favorable market conditions and increasing profitability expected in the coming years.

Group 1 - The company has approved a share repurchase plan with a total fund amount between RMB 30 million and RMB 50 million, with a maximum repurchase price of RMB 41.72 per share, valid for up to 12 months from the board's approval date [2] - Following a rights distribution, the maximum repurchase price was adjusted to RMB 41.22 per share starting from May 23, 2025 [2] - As of December 31, 2025, the company has repurchased a total of 959,036 shares, accounting for 0.21% of the total share capital, with a total transaction amount of RMB 30,008,372.74 [3] Group 2 - The company will continue to make repurchase decisions based on market conditions and will fulfill its information disclosure obligations in a timely manner [5] - The share repurchase progress complies with relevant laws and regulations as well as the company's repurchase plan [4]

证券代码：688676 证券简称：金盘科技 公告编号：2026-002 海南金盘智能科技股份有限公司 关于股份回购进展公告 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。 重要内容提示： 根据中国证监会《上市公司股份回购规则》《上海证券交易所上市公司自律监 管指引第 7 号——回购股份》的有关规定，公司在股份回购期间内，应当在每个 月的前 3 个交易日内公告截至上月末的回购进展情况。现就公司 2025 年 12 月的 回购股份进展情况公告如下： 截至 2025 年 12 月 31 日，公司通过上海证券交易所交易系统以集中竞价交易 方式累计回购公司股份 959,036 股，占总股本的比例为 0.21%，公司回购股份的成 交价格区间为 30.31 元/股~32.68 元/股，成交总金额为人民币 30,008,372.74 元（不 含印花税、交易佣金等交易费用）。 公司回购进展符合法律法规的规定及公司回购股份方案。 三、其他事项 公司将严格按照《上市公司股份回购规则》《上海证券交易所上市公司自律监 管指引第 7 号——回购股份》等相 ...

Core Viewpoint - Jinpan Technology (688676.SH) announced a share buyback program, indicating confidence in its stock value and commitment to returning capital to shareholders [1] Group 1: Share Buyback Details - The company has repurchased a total of 959,000 shares, which represents 0.21% of its total share capital [1] - The share buyback was conducted through the Shanghai Stock Exchange trading system via centralized bidding [1] - The price range for the repurchased shares was between 30.31 yuan/share and 32.68 yuan/share, with a total transaction amount of 30.0084 million yuan (excluding stamp duty and transaction fees) [1]

1. Report Industry Investment Rating No relevant content provided. 2. Core Views of the Report - The issuance of Jin 05 Convertible Bonds is recommended for active subscription. The target price on the first day of listing is expected to be between 131 - 136 yuan, with an estimated conversion premium rate on the first day of listing in the range of [29%, 34%]. The estimated first - day new - bond lottery winning rate is around 0.0085% - 0.0109% [3][17][18]. 3. Summary According to the Directory 3.1 Jin 05 Convertible Bond New - Bond Analysis and Investment Suggestions 3.1.1 Convertible Bond Basic Terms Analysis - The issuance methods of Jin 05 Convertible Bonds are priority allotment and online issuance, with a bond and issuer rating of AA+. The issuance scale is 1.672 billion yuan, the initial conversion price is 89.28 yuan, the convertible bond parity on December 31, 2025, is 101.19 yuan, the pure bond value is 97.45 yuan, and the game terms are normal. The bond has high issuance scale, good liquidity, good rating, and good bond - floor protection. It is easy for institutions to include it in their portfolios, and there is no objection to primary participation [13]. 3.1.2 New - Bond Initial Listing Price Analysis - The company's main business is the R & D, production, and sales of transformer series, complete set series, and energy storage series products. The raised funds after deducting issuance fees will be used for projects such as data center power module and high - efficiency energy - saving power equipment intelligent manufacturing, high - efficiency energy - saving liquid - immersed transformer and amorphous alloy core intelligent manufacturing, R & D office building construction, and supplementary working capital. The implementation of these projects will expand the company's production capacity and enhance its profitability. The target price on the first day of listing is estimated to be between 131 - 136 yuan [16][17]. 3.1.3 Convertible Bond New - Bond Lottery Winning Rate Analysis - The estimated first - day new - bond lottery winning rate is around 0.0085% - 0.0109%. Assuming the old shareholders' allotment ratio is 45% - 57%, the scale left for the market is 714 million - 917 million yuan. Assuming the online effective subscription quantity is 8.41 million households, the lottery winning rate when subscribing to the maximum is around 0.0085% - 0.0109% [18]. 3.2 Analysis of the Underlying Stock's Fundamental Aspects 3.2.1 Company's Main Business and the Upstream and Downstream Situations of the Industry - The company is a global power equipment supplier, mainly engaged in the R & D, production, and sales of transformer series, complete set series, and energy storage series products. It provides power supply solutions and electrical equipment for various scenarios. The upstream industries include non - ferrous metals, steel, etc., with sufficient market supply. The downstream industries include power systems, new energy, etc., and their demand growth drives the development of the industry [19][20]. 3.2.2 Company's Operating Conditions - The company's operating income has been rising in recent years, with domestic sales being the main source. In 2024, the domestic sales revenue of transformer series products in the "new energy - photovoltaic" field decreased significantly, while that in the "new infrastructure - data center" field increased. The company's comprehensive gross profit margin and net profit margin have been rising, mainly due to the growth of the gross profit margins of transformer and complete set series products. The company's R & D expenses have fluctuated slightly, and the accounts receivable turnover rate has slightly decreased. The net profit attributable to the parent company has fluctuated greatly, and the weighted ROE has also fluctuated [24][27][40]. 3.2.3 Company's Equity Structure and Main Subsidiaries - As of June 30, 2025, the company's equity structure is relatively concentrated. The largest shareholder is Yuanyu Investment, and the second - largest is Jingtian Investment. The actual controllers are Li Zhiyuan and YUQING JING [43]. 3.2.4 Company's Business Characteristics and Advantages - The company has international competitive advantages in the transformer industry, with advantages in technology R & D, production manufacturing, market and brand, management team, and marketing and service system [46][47][48]. 3.2.5 Allocation of the Raised Funds - The company plans to issue convertible bonds to raise no more than 1.672 billion yuan. After deducting issuance fees, the funds will be used for four major projects: data center power module and high - efficiency energy - saving power equipment intelligent manufacturing, high - efficiency energy - saving liquid - immersed transformer and amorphous alloy core intelligent manufacturing, R & D office building construction, and supplementary working capital [11][50].