杭州宏华数码科技股份有限公司 2026 年限制性股票激励计划激励对象名单 | | | | | 获授的限制 | 占授予限制 | 占本激励计划公 | | --- | --- | --- | --- | --- | --- | --- | | 序号 | 姓名 | 国籍 | 职务 | 性股票数量 | 性股票总数 | 告日公司股本总 | | | | | | (万股) | 的比例 | 额的比例 | | 一、董事、高级管理人员、核心技术人员 | | | | | | | | 1 | 郑靖 | 中国 | 董事、副总经理 | 3.50 | 0.97% | 0.02% | | 2 | 葛晨文 | 中国 | 职工董事 | 3.50 | 0.97% | 0.02% | | 3 | 俞建利 | 中国 | 副总经理、董事 会秘书 | 3.50 | 0.97% | 0.02% | | 4 | 葛爱平 | 中国 | 财务负责人 | 3.50 | 0.97% | 0.02% | | 5 | 何增良 | 中国 | 副总经理 | 1.50 | 0.42% | 0.01% | | 6 | 林虹 | 中国 | 核心技术人员 | 3.50 | 0.97% ...

证券代码：688789 证券简称：宏华数科 公告编号：2026-004 杭州宏华数码科技股份有限公司 2026 年限制性股票激励计划（草案）摘要公告 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： | 股权激励方式 | □第一类限制性股票 | | --- | --- | | | 第二类限制性股票 | | | □股票期权 | | | □其他 | | 股份来源 | 发行股份 | | | □回购股份 | | | □其他 | | 本次股权激励计划有效期 | _48_个月 | | 本次股权激励计划拟授予的限制性股 | __3,600,000__股 | | 票数量 | | | 本次股权激励计划拟授予的限制性股 | __2.00__% | | 票数量占公司总股本比例 | | | |  是 ， 预 留 数 量 | | | __720,000__股； | | 本次股权激励计划是否有预留 | 占本股权激励拟授予限制 | | | 性股票比例__20%__ | | | □否 | | 本次股权激励计划拟首次授予的限制性股票数量 | ...

证券代码：688789 证券简称：宏华数科 杭州宏华数码科技股份有限公司 2026 年限制性股票激励计划（草案） 杭州宏华数码科技股份有限公司 2026 年限制性股票激励计划（草案） 二〇二六年四月 -1- 杭州宏华数码科技股份有限公司 2026 年限制性股票激励计划（草案） 声明 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。 本公司所有激励对象承诺，公司因信息披露文件中有虚假记载、误导性陈述 或者重大遗漏，导致不符合授予权益或权益归属安排的，激励对象应当自相关信 息披露文件被确认存在虚假记载、误导性陈述或者重大遗漏后，将由本激励计划 所获得的全部利益返还公司。 特别提示 为提高公司经营质量与效率，有效地将股东、公司和核心团队三方利益结合 在一起，使各方共同关注公司的长远发展，与投资者共享经营发展成果，切实履 行上市公司的责任和义务，公司制定了本激励计划。激励对象主要为公司董事（不 含独立董事）、高级管理人员、核心技术人员、骨干员工（含子公司）及董事会 认为需要激励的人员。 一、本激励计划系依据《中华人民共和国公司法》《 ...

国浩律师（杭州）事务所 法律意见书 浙江省杭州市老复兴路白塔公园 B 区 15 号楼、2 号楼（国浩律师楼 ） 邮编：310008 Grandall Building, No.2&No.15, Block B, Baita Park, Old Fuxing Road, Hangzhou, Zhejiang 310008, China 电话/Tel: (+86)(571) 8577 5888 传真/Fax: (+86)(571) 8577 5643 电子邮箱/Mail：grandallhz@grandall.com.cn 网址/Website：http://www.grandall.com.cn 二〇二六年四月 1 关于 杭州宏华数码科技股份有限公司 2026 年限制性股票激励计划（草案） 之 法律意见书 国浩律师（杭州）事务所 国浩律师（杭州）事务所 法律意见书 释 义 除非另有说明，本法律意见书中相关词语具有以下特定含义： | 公司、宏华数科 | 指 | 杭州宏华数码科技股份有限公司 | | --- | --- | --- | | 本次激励计划 | 指 | 杭州宏华数码科技股份有限公司 年限制性股票激励计 ...

杭州宏华数码科技股份有限公司 2026 年限制性股票激励计划实施考核管理办法 杭州宏华数码科技股份有限公司（以下简称"公司"）为进一步激发企业创新 创造活力，建立、健全公司长效激励机制，充分调动公司员工的积极性，吸引和 留住优秀人才，有效地将股东利益、公司利益和员工利益结合在一起，使各方共 同关注公司的长远发展，促进公司的长远发展，确保公司发展战略和经营目标的 实现，在充分保障股东利益的前提下，按照收益与贡献对等的原则，公司拟实施 2026 年限制性股票激励计划（以下简称"股权激励计划"或"限制性股票激励计 划"）。 为保证股权激励计划的顺利实施，现根据《上市公司股权激励管理办法》《上 海证券交易所科创板股票上市规则》《科创板上市公司自律监管指南第 4 号—— 股权激励信息披露》等有关法律、法规和规范性文件以及《杭州宏华数码科技股 份有限公司章程》（以下简称"《公司章程》"）、公司限制性股票激励计划的相关 规定，并结合公司的实际情况，特制定《杭州宏华数码科技股份有限公司 2026 年限制性股票激励计划实施考核管理办法》（以下简称"本办法"）。 一、考核目的 进一步完善公司法人治理结构，建立和完善公司激励约束机 ...

Group 1 - The core viewpoint of the news is that Honghua Digital Technology Co., Ltd. has seen a stock price increase of 5.02%, reaching 85.70 CNY per share, with a total market capitalization of 15.448 billion CNY [1] - The company, established on October 10, 1992, focuses on digital printing technology, particularly in textile digital printing, providing comprehensive solutions including pre-sales consulting, in-process debugging, after-sales service, and software support [1] - The main revenue composition of the company includes digital printing equipment (64.61%), ink (26.24%), other (5.07%), and automated sewing equipment (4.07%) [1] Group 2 - From the perspective of fund holdings, one fund under Huaxia Fund has a significant position in Honghua Digital Technology, with Huaxia CSI 1000 Index Enhanced A holding 26,600 shares, accounting for 0.7% of the fund's net value [2] - The fund has generated a floating profit of approximately 109,000 CNY today, with a total fund size of 1.03 billion CNY and a year-to-date return of 13.2% [2] - The fund's performance over the past year shows a return of 40.8%, ranking 1256 out of 4326 in its category [2]

Group 1: China Ping An - The core strategy of China Ping An is "comprehensive finance + medical care and elderly care," which aims to create a new value growth pole through a "product + service" model, leading to long-term stable profit growth [3][4] - The report suggests that the current market valuation of China Ping An is low, with a PEV of 0.75, and recommends a target market value of 1.6 trillion yuan, corresponding to a target price of 88.53 yuan per share [3][4] - The aging population in China and the increasing importance of commercial health insurance in medical payments are expected to enhance the effectiveness of the "product + service" model, positioning it as a new growth driver for the company [3][4] Group 2: Steel Research High Temperature Alloy - Steel Research High Temperature Alloy is a leading company in the high-temperature alloy sector, benefiting from strong demand in the aerospace industry and the trend towards technological self-sufficiency [5][6] - The company is expected to achieve steady growth in net profit, with forecasts of 132 million yuan, 152 million yuan, and 172 million yuan for 2025 to 2027, respectively [5][6] - The report highlights the resilience of the high-temperature alloy industry, driven by increasing defense budgets and the upgrade of aerospace equipment, which supports long-term demand [6][7] Group 3: CSPC Pharmaceutical Group - CSPC Pharmaceutical Group is recognized for its strong innovation capabilities, with a focus on oncology and chronic disease treatment pipelines, and has established an international business development ecosystem [8][9] - The company has entered a strategic collaboration with AstraZeneca to develop innovative long-acting peptide drugs, which is expected to generate significant revenue potential [9][10] - The report predicts EPS growth of 48%, 36%, and -7% for 2025 to 2027, with a target price of 16.58 HKD per share [8][9] Group 4: Real Estate Market - The real estate market in China is currently in a deep adjustment phase, with only 19% of cities showing signs of bottoming out as of Q4 2025 [18][19] - New home prices are experiencing significant fluctuations, particularly in first-tier cities, while second-hand home prices are generally declining [19][20] - The report indicates that the inventory clearance cycle is extending, with first-tier cities reaching 19-28 months and some second-tier cities exceeding 38 months [20] Group 5: Robotics and Automation - The company is actively expanding into the humanoid robotics sector, with new product launches expected to drive growth [21][22] - The report forecasts EPS of 1.14, 1.47, and 1.83 yuan for 2025 to 2027, with a target price of 147.00 yuan per share [21][22] - The company is leveraging its expertise in micro-drive systems to enhance its competitive position in the robotics market [22][23] Group 6: Energy Storage Sector - The energy storage sector is anticipated to see significant growth, with the introduction of capacity pricing mechanisms in provinces like Qinghai [36][37] - The report suggests that the demand for energy storage systems and batteries will increase, recommending several key stocks in this sector [36][37] - The expected growth rate for energy storage demand in 2026 is projected to be around 50% [38]

Investment Rating - The report assigns an "Accumulate" rating for the mechanical industry [4]. Core Insights - The report highlights a continued decline in shipping costs for major routes year-on-year, with the U.S. housing market index showing a year-on-year decrease of 14.29% [2][4]. - It suggests focusing on export-oriented consumer companies with global manufacturing layouts, brand output capabilities, and channel integration advantages, especially those with diversified capacity, stable customer loyalty, and pricing power [4]. Summary by Sections Investment Recommendations - The report recommends closely monitoring export-oriented consumer companies that possess global manufacturing layouts and strong brand capabilities. Companies with diversified capacity and stable customer relationships are expected to achieve sustained growth amid changing external environments and policy dynamics. Recommended stocks include: - Juxing Technology - Yindu Co., Ltd. - Taotao Vehicle - Honghua Digital Science - Jack Co., Ltd. - Related stocks: Haoyang Co., Ltd. [4]. Cost Tracking - The report notes a slight depreciation of the USD and EUR against the RMB. Shipping costs for various routes have decreased year-on-year: - The comprehensive index of the China Export Container Freight Index (CCFI) is 1088.14, down 21.56% year-on-year and 3.03% month-on-month. - Specific route indices include: - Europe: 1508.26, down 7.05% year-on-year - U.S. East: 913.08, down 29.01% year-on-year - U.S. West: 824.72, down 25.73% year-on-year - Southeast Asia: 852.70, down 19.27% year-on-year [4]. Industry High-Frequency Data Tracking - U.S. Restaurant Performance Index (RPI) decreased to 98.3 in December, down 1.0% from November [4]. - The U.S. housing market index for February shows a year-on-year decline of 14.29%, with existing home sales down 4.40% year-on-year [4]. - The golf cart export volume increased by 1.33% month-on-month and 7.66% year-on-year, while the motorcycle export value decreased by 2.73% month-on-month but increased by 15.83% year-on-year [4].

Investment Rating - The report assigns an "Overweight" rating for the mechanical industry [4]. Core Insights - The report highlights a continuous decline in shipping costs on major routes year-on-year, with the U.S. housing market index showing a year-on-year decrease of 14.29% [2][4]. - It suggests focusing on export-oriented consumer companies with global manufacturing layouts, brand output capabilities, and channel integration advantages, especially those with diversified capacity, stable customer loyalty, and pricing power [4]. Summary by Sections Investment Recommendations - The report recommends closely monitoring export-oriented consumer companies that possess global manufacturing layouts and strong brand capabilities. Companies with diversified capacity and stable customer relationships are expected to achieve sustained growth amid changing external environments and policy dynamics. Key recommended stocks include: - Juxing Technology - Yindu Co., Ltd. - Taotao Vehicle - Honghua Digital Science - Jack Co., Ltd. - Related stocks: Haoyang Co., Ltd. [4]. Cost Tracking - The report notes a slight depreciation of the USD and EUR against the RMB. Shipping costs on various routes have decreased year-on-year: - The comprehensive index of the China Export Container Freight Index (CCFI) is 1088.14, down 21.56% year-on-year and 3.03% month-on-month. - Specific route indices include: - Europe: 1508.26, down 7.05% year-on-year - U.S. East: 913.08, down 29.01% year-on-year - U.S. West: 824.72, down 25.73% year-on-year - Southeast Asia: 852.70, down 19.27% year-on-year [4]. Industry High-Frequency Data Tracking - U.S. Restaurant Performance Index (RPI) for December shows a month-on-month decrease of 1.0%, with a value of 98.3 compared to 99.2 in November [4]. - The U.S. housing market index for February shows a year-on-year decline of 14.29%, with a value of 36, down 2.70% month-on-month [4]. - The golf cart industry saw a year-on-year export volume increase of 7.66% in December, while the motorcycle industry experienced a year-on-year export value increase of 15.83% [4].

Investment Rating - The report maintains a "Buy" rating for the company, expecting a relative increase in stock price of over 20% compared to the benchmark index within six months [6][11]. Core Insights - The company is projected to achieve a revenue of 2.308 billion yuan in 2025, representing a year-on-year growth of 28.9%. The net profit attributable to shareholders is expected to reach 529 million yuan, with a growth of 27.63% [3][6]. - The company has shown strong quarterly performance, with Q4 net profit increasing by 36% and non-recurring net profit rising by 34%. Quarterly revenues for 2025 are forecasted to be 478 million, 559 million, 594 million, and 676 million yuan, with respective year-on-year growth rates of 30%, 25%, 32%, and 29% [4]. - The company is expanding its market presence in the textile sector, focusing on digital printing equipment, and is leveraging its R&D capabilities to enhance product offerings and customer service [4][5]. Financial Performance - The company’s revenue and profit forecasts for 2025-2027 are as follows: - Revenue: 2.308 billion yuan (2025), 2.961 billion yuan (2026), 3.738 billion yuan (2027) with growth rates of 28.90%, 28.29%, and 26.24% respectively - Net profit: 529 million yuan (2025), 660 million yuan (2026), 820 million yuan (2027) with growth rates of 27.63%, 24.73%, and 24.30% respectively [6][9]. - The company’s projected P/E ratios for 2025-2027 are 27.26, 21.85, and 17.58, indicating a favorable valuation trend [6][9]. Production Capacity - The company is nearing the completion of its production facility in Tianjin, which will have an annual capacity of 47,000 tons of digital printing ink and 200 industrial digital printing machines, thereby enhancing its production capabilities and growth potential [5].