证券代码：688719 证券简称：爱科赛博 公告编号：2025-068 西安爱科赛博电气股份有限公司 董事会薪酬与考核委员会关于公司2025年限制性 股票激励计划激励对象名单的 公示情况说明及核查意见 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。 西安爱科赛博电气股份有限公司（以下简称"公司"）于2025年9月28日召 开第五届董事会第十一次会议，审议通过了《关于公司2025年限制性股票激励计 划（草案）及其摘要的议案》《关于公司<2025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会办理公司2025年限制性股票 激励计划相关事宜的议案》等相关议案。根据《上市公司股权激励管理办法》（以 下简称"《管理办法》"）《上海证券交易所科创板股票上市规则》（以下简称 "《上市规则》"）等有关法律法规、规范性文件以及《西安爱科赛博电气股份 有限公司章程》（以下简称"《公司章程》"）的相关规定，公司对2025年限制 性股票激励计划（以下简称"本次激励计划"）激励对象的姓名和职务在公司内 部进行了公示。公司 ...

Market Overview - On October 9, the A-share market saw a strong rally, with the Shanghai Composite Index rising over 1% to break through 3900 points, marking a 10-year high [1][2] - The Shenzhen Component Index increased by 1.47% to 13725.56 points, while the ChiNext Index rose by 0.73% to 3261.82 points [2] - The total trading volume in the Shanghai and Shenzhen markets reached 26,723 billion yuan, an increase of 4,748 billion yuan compared to the previous trading day [2] Sector Performance - The non-ferrous metals sector experienced significant gains, with stocks like Tongling Nonferrous Metals, Northern Copper, and Yunnan Copper hitting the daily limit [6][8] - The controlled nuclear fusion concept saw a surge, with stocks such as Changfu Co., Yinjie Electric, and Western Superconducting also reaching the daily limit [11][13] - The rare earth sector rallied, with companies like China Rare Earth and Northern Rare Earth hitting the daily limit [9][10] Gold Market - On October 8, international spot gold prices exceeded $4000 per ounce, reaching a historical high [8] - Factors contributing to the rise in gold prices include concerns over U.S. government shutdowns, political uncertainties in Japan, and expectations of continued interest rate cuts by the Federal Reserve [8] Semiconductor Sector - The storage chip concept gained momentum, with stocks like Canxin Co. and Huahong Semiconductor seeing significant increases, with Canxin hitting the daily limit [14][16] - A report from CFM Flash Market indicated that prices for server eSSD and DDR5 RDIMM are expected to rise by over 10% in Q4 2025 due to increased demand from cloud service providers [16][17] Policy Impact - The Ministry of Commerce announced new export controls on certain rare earth-related items, further tightening the supply chain for these materials [9] - Analysts expect that the new regulations will lead to a long-term bullish outlook for the rare earth and magnetic materials sectors due to supply constraints [9]

Core Insights - The other power equipment sector experienced a significant increase of 4.3% on October 9, with Yingjie Electric leading the gains [1] - The Shanghai Composite Index closed at 3933.97, up 1.32%, while the Shenzhen Component Index closed at 13725.56, up 1.47% [1] Sector Performance - Yingjie Electric (300820) saw a closing price of 62.26, with a remarkable increase of 20.01% and a trading volume of 162,100 shares, amounting to a transaction value of 932 million [1] - Aike Saibo (688719) closed at 44.80, up 14.05%, with a trading volume of 54,300 shares and a transaction value of 234 million [1] - Rongfa Nuclear Power (002366) closed at 8.31, up 10.07%, with a trading volume of 1,672,300 shares and a transaction value of 1.373 billion [1] - Other notable performers include Dongfang Electric (600875) with a 10.01% increase, closing at 21.22, and Shanghai Electric (601727) with a 9.96% increase, closing at 10.38 [1] Capital Flow - The other power equipment sector saw a net inflow of 2.194 billion in main funds, while retail funds experienced a net outflow of 990 million [3] - The overall capital flow indicates a mixed sentiment, with institutional investors showing interest while retail investors withdrew funds [3]

证券代码：688719 证券简称：爱科赛博 西安爱科赛博电气股份有限公司 西安爱科赛博电气股份有限公司 2025年第三次临时股东大会会议资料 2025 年第三次临时股东大会 会议资料 2025 年 10 月 西安爱科赛博电气股份有限公司 2025年第三次临时股东大会会议资料 目 录 | 2025 | 年第三次临时股东大会会议须知 1 | | --- | --- | | 2025 | 年第三次临时股东大会会议议程 3 | | 2025 | 年第三次临时股东大会会议议案 5 | 西安爱科赛博电气股份有限公司 2025年第三次临时股东大会会议资料 西安爱科赛博电气股份有限公司 二、出席会议的股东及股东代理人须在会议召开前半小时到会议现场办理签 到手续，并按规定出示股票账户卡、身份证明文件或营业执照/注册证书复印件 （加盖公章）、授权委托书等，上述登记材料均需提供复印件一份，个人登记材 料复印件须个人签字，法定代表人证明文件复印件须加盖公司公章，经验证后方 可出席会议。会议开始后，由会议主持人宣布现场出席会议的股东及股东代理人 人数及其所持有表决权的股份总数，在此之后进场的股东无权参与现场投票表决。 三、会议按照会议 ...

Core Viewpoint - The A-share controllable nuclear fusion sector experienced a surge in stock prices, driven by significant advancements in China's controllable nuclear fusion technology [1][3]. Group 1: Market Performance - Multiple stocks in the controllable nuclear fusion sector reached their daily limit up, including Guoguang Electric, Haheng Huaton, and Zhongzhou Special Materials, with increases of 20% and above [1][2]. - The overall market sentiment is positive, with several companies showing gains exceeding 10% [1][2]. Group 2: Technological Advancements - The recent surge is attributed to a key breakthrough in the construction of the compact fusion energy experimental device (BEST) in Hefei, Anhui, with the successful installation of the core component, the Dewar base [3]. - The completion of the Dewar base marks the beginning of the main assembly work for the BEST device, which is expected to be fully assembled by 2027 [3]. - BEST aims to demonstrate fusion energy generation for the first time globally, with the goal of lighting the first lamp by 2030 [3]. Group 3: Global Developments - The global nuclear fusion sector is witnessing rapid advancements, including a $1 billion power purchase agreement between CFS and Eni Group for a fusion power plant in Virginia, expected to be operational in the early 2030s [4][5]. - The international community is accelerating efforts towards the commercialization of fusion energy, with various countries investing significantly in fusion projects [5][6]. Group 4: Market Outlook - The global nuclear fusion market is projected to reach $496.55 billion by 2030, with a compound annual growth rate of 7.4% from 2024 to 2030 [7]. - Recent policy support in China, including the approval of the Atomic Energy Law, encourages research and development in controlled thermonuclear fusion, providing a favorable environment for industry growth [7][8]. - Analysts suggest that the second wave of market activity in the fusion sector is likely to commence, driven by intensified project financing and bidding processes [6][8].

Group 1 - The company, Xi'an Aike Saibo Electric Co., Ltd., has announced a change in accounting estimates regarding the depreciation period and rate for fixed assets, specifically for buildings and structures that will be put into use after September 1, 2025 [4][10][11] - The depreciation period for new buildings will be changed from "5-25 years" to "5-45 years," and the annual depreciation rate will be adjusted from "3.80%-19.00%" to "2.11%-19.00%" [4][7][10] - The change in accounting estimates will not have a significant impact on the company's financial status, operating results, or cash flow, and it does not harm the interests of the company or its shareholders [4][10][12] Group 2 - The board of directors and the supervisory board have approved the change in accounting estimates, with unanimous votes in favor, indicating a consensus on the necessity and appropriateness of the adjustments [11][12] - The company will implement the new accounting estimates starting from September 1, 2025, without requiring retrospective adjustments to previously disclosed financial statements [10][11] - The adjustments are made in accordance with relevant accounting standards and are intended to provide a more accurate reflection of the company's financial condition and operating results [6][9][11] Group 3 - The company has also announced the allocation of reserved shares under its first employee stock ownership plan, granting 564,100 shares to core employees, which represents 12.54% of the total plan [14][17] - The share purchase price for the reserved shares is set at 13.55 yuan per share, and the plan includes a 12-month lock-up period before shares can be unlocked in two phases [18][19] - The performance assessment for unlocking shares will be based on company revenue targets and individual performance evaluations for the years 2025-2026 [20][21]

Core Viewpoint - The company is proposing a restricted stock incentive plan for 2025, aiming to attract and retain talent while aligning the interests of shareholders, the company, and core team members [7][8][30]. Summary by Sections Incentive Plan Overview - The incentive plan involves granting 4.2519 million restricted stocks, accounting for approximately 3.68% of the company's total share capital of 115.385418 million shares [6][10]. - The plan will be funded through repurchased shares from the secondary market or newly issued shares directed to the incentive recipients [9]. Purpose of the Incentive Plan - The plan aims to enhance the long-term incentive mechanism, motivate employees, and ensure alignment of interests among stakeholders [7][30]. Eligibility and Distribution - The plan targets up to 95 key technical and business personnel, representing 9.10% of the total workforce of 1,045 employees as of the end of 2024 [13]. - The distribution of restricted stocks among recipients will ensure that no individual receives more than 1% of the total share capital [15]. Granting and Vesting Conditions - The grant price for the restricted stocks is set at no less than 20.37 yuan per share, based on various pricing methods [24]. - Vesting conditions include meeting specific performance targets related to gross margin and the number of new patent applications [28][29]. Performance Assessment - The performance assessment will occur annually over two fiscal years (2025-2026), with specific targets set for each year [28]. - The assessment will consider both company-level and individual-level performance metrics [30]. Implementation Procedures - The plan requires approval from the board and shareholders, with a detailed process for granting and vesting the stocks [31][32]. - The company will ensure compliance with relevant laws and regulations throughout the implementation of the plan [31][32]. Adjustments and Termination - Adjustments to the number of stocks granted or their price may occur due to corporate actions such as stock splits or capital increases [36][40]. - The plan can be terminated under specific circumstances, including financial reporting issues or regulatory non-compliance [53].

Group 1 - The company has decided to abolish the supervisory board and transfer its powers to the audit committee of the board of directors [1] - The decision was made in accordance with the Company Law of the People's Republic of China and relevant regulations, reflecting the actual governance needs of the company [1] - Relevant rules and regulations related to the supervisory board will be abolished, and corresponding amendments will be made to the company's articles of association [1] Group 2 - The company held the 11th meeting of the 5th board of directors on September 28, 2025, where the proposals regarding the cancellation of the supervisory board and the amendments to the articles of association were approved [1] - Specific amendments to the articles of association were outlined, although detailed changes were not provided in the announcement [1]

Core Points - The company has revised its Articles of Association and made non-substantive amendments, which require approval from the shareholders' meeting [1][2] - The company has undergone changes in its board of directors, with resignations and new appointments, ensuring compliance with legal requirements [3][4][5] - The company has approved the use of its own funds to pay for part of the fundraising project expenses, which will be replaced with raised funds later [15][16][21] Group 1: Articles of Association and Governance - The company has made non-substantive revisions to its Articles of Association, which include minor wording changes and adjustments to clause numbering and punctuation [1] - Several governance systems have been revised or established in conjunction with the amendments to the Articles of Association, with some requiring shareholder approval [2][40] - The board of directors has proposed to cancel the supervisory board and amend the Articles of Association accordingly, which is pending shareholder approval [36][37] Group 2: Board Changes - Three directors, including one who is also a senior manager, have submitted their resignations, with one continuing in a management role [4][5] - The company has nominated new candidates for the board of directors to fill the vacancies created by the resignations, which will be submitted for shareholder approval [6][42] - The company has elected a new employee representative director during a staff representative meeting [8] Group 3: Fundraising and Financial Management - The company has approved the use of its own funds to cover part of the expenses for fundraising projects, with plans to replace these funds with raised capital later [15][16] - The total amount raised from the initial public offering was approximately 1.44 billion yuan, with a net amount of about 1.32 billion yuan after expenses [16] - The company has outlined the reasons for using its own funds initially, including operational efficiency and compliance with banking regulations [17][18][19] Group 4: Committee Appointments - The company has made appointments to its strategic committee, remuneration and assessment committee, and audit committee following recent board changes [9][46] - The appointments are intended to ensure the smooth operation of these committees and are effective until the end of the current board's term [9][46] Group 5: Monitoring and Compliance - The supervisory board has expressed its agreement with the company's decision to use its own funds for project expenses, confirming compliance with regulations [23][30] - The underwriting institution has also provided a favorable review of the company's financial management practices regarding the use of raised funds [25][26]

Investment Rating - The report suggests a positive outlook on the commercialization of the nuclear fusion industry, recommending continuous attention to the sector [3]. Core Insights - Nuclear fusion is viewed as the ultimate solution to humanity's energy problems, with the potential for significant advancements in commercialization by 2025 [1][2]. - The report highlights the diverse technological pathways in nuclear fusion research, primarily focusing on magnetic confinement and inertial confinement methods [1][66]. - A detailed overview of both international and domestic nuclear fusion projects is provided, showcasing the collaborative efforts in advancing fusion technology [2][35]. Summary by Sections 1. Nuclear Fusion: The Ultimate Solution to Energy Problems - Controlled nuclear fusion aims to replicate the sun's energy production on Earth, primarily through the fusion of hydrogen isotopes deuterium and tritium [1][8]. - Achieving nuclear fusion requires meeting three critical conditions: high temperature, sufficient density, and adequate energy confinement time, collectively known as the fusion triple product [18][22]. 2. Diverse Technological Pathways - The report outlines two main research directions: - Magnetic confinement, which utilizes strong magnetic fields to contain high-temperature plasma, with devices like Tokamaks and Stellarators [66]. - Inertial confinement, which relies on the inertia of fuel pellets compressed by powerful lasers or particle beams [66]. 3. Overview of Nuclear Fusion Projects - International projects include ITER, SPARC, and the Orion device, while domestic efforts are led by institutions like the China National Nuclear Corporation and various universities [2][35]. - The report details several key projects in China, such as the BEST project and the Jiangxi "Spark" project, highlighting the collaborative landscape of fusion energy development [2][35]. 4. Investment Recommendations - The report recommends focusing on companies involved in high-power electronic tubes, vacuum switches, superconducting materials, and other components critical to the nuclear fusion supply chain [3]. - Specific companies highlighted for investment include Xuguang Electronics, Yingjie Electric, and Guoguang Electric, among others [3][4].