Core Viewpoint - The independent financial advisor report indicates that Qingdao Haitai Technology Molding Technology Co., Ltd. has achieved the conditions for the second vesting period of its 2023 restricted stock incentive plan, allowing eligible participants to apply for stock vesting [10][16]. Summary by Sections Independent Financial Advisor Report - The report is prepared by Shanghai Rongzheng Enterprise Consulting Service (Group) Co., Ltd. regarding the second vesting period of the restricted stock incentive plan for Qingdao Haitai Technology [1][2]. - The report confirms that the necessary approvals and authorizations for the incentive plan have been obtained, complying with relevant regulations [16]. Conditions for Vesting - The second vesting period is defined as the period from the first trading day after 24 months from the grant date to the last trading day within 36 months from the grant date [8]. - The grant date for the incentive plan is September 1, 2023, and the conditions for vesting include no adverse audit opinions and the fulfillment of performance targets [6][10]. Performance Targets - The performance assessment for the incentive plan spans three accounting years (2023-2025), with specific revenue growth targets set for each vesting period: - First vesting period requires a minimum revenue growth of 10% based on 2022 revenue - Second vesting period requires a minimum growth of 20% - Third vesting period requires a minimum growth of 30% [8][9]. Eligible Participants and Stock Details - A total of 118 eligible participants can apply for 559,830 shares of restricted stock in the second vesting period, with 12,560 shares being canceled due to unmet vesting conditions [10][12]. - The initial grant price for the restricted stock was set at 15.62 RMB per share, which has been adjusted to 15.36 RMB per share following the company's equity distribution plan [13][14]. Conclusion - The independent financial advisor concludes that the conditions for the second vesting period have been met, and the company is authorized to proceed with the vesting process in accordance with the incentive plan and relevant regulations [16].

Core Viewpoint - The legal opinion letter from Shandong Guoyao Qindao Law Firm confirms the adjustments to the stock incentive plan of Qingdao Haitai Technology Co., Ltd, including the adjustment of grant prices, the achievement of vesting conditions for the second vesting period, and the cancellation of certain unvested restricted stocks. Group 1: Approval and Authorization - The company held its 11th meeting of the second board on August 10, 2023, where it approved the draft of the 2023 restricted stock incentive plan and related matters [5][6] - The company’s supervisory board also approved the relevant proposals during its 11th meeting on August 10, 2023 [6] - The company conducted a public announcement of the incentive object list from August 11 to August 20, 2023, with no objections received [6][7] Group 2: Adjustment Details - The adjustment of the grant price was necessitated by the company's profit distribution plan, which involved a cash dividend of 2.999782 yuan per 10 shares [10] - The adjusted grant price for the restricted stock is 15.06 yuan per share, down from the previous 15.36 yuan per share [10][11] - The adjustment method follows the formula P = P0 - V, ensuring that the adjusted price remains above 1 yuan [10] Group 3: Vesting Conditions - The second vesting period for the incentive plan is set from September 1, 2025, to the last trading day within 36 months from the grant date [11] - The achievement of vesting conditions includes the absence of adverse audit reports and compliance with performance targets [12][13] - The performance targets for the three-year plan require a minimum revenue growth of 10% for 2023, 20% for 2024, and 30% for 2025, based on 2022 revenue [14][15] Group 4: Cancellation of Restricted Stocks - A total of 12,560 shares of restricted stock will be canceled due to one individual leaving the company and three others not meeting performance criteria [19] - The cancellation aligns with the provisions of the Company Law and relevant regulations [19] Group 5: Information Disclosure - The company has fulfilled its information disclosure obligations as required by the Management Measures and Self-Regulatory Guidelines [20] - Ongoing compliance with disclosure requirements will continue as the incentive plan progresses [20]

Core Viewpoint - Mould Technology (000700.SZ) reported a decline in both revenue and net profit for the first half of 2025 compared to the previous year [1] Financial Performance - The company's operating revenue for the first half of 2025 was 3.399 billion yuan, a year-on-year decrease of 4.24% [1] - The net profit attributable to shareholders of the listed company was 293 million yuan, down 18.12% year-on-year [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 242 million yuan, reflecting a year-on-year decrease of 26.12% [1] - Basic earnings per share were reported at 0.3195 yuan [1]

江南模塑科技股份有限公司 2025 年半年度财务报告 财务报告 一、审计报告 半年度报告是否经过审计 □是 否 公司半年度财务报告未经审计。 二、财务报表 财务附注中报表的单位为：元 1、合并资产负债表 编制单位：江南模塑科技股份有限公司 2025 年 06 月 30 日 单位：元 | 项目 | 期末余额 | 期初余额 | | --- | --- | --- | | 流动资产： | | | | 货币资金 | 1,494,506,539.88 | 1,790,517,315.45 | | 结算备付金 | | | | 拆出资金 | | | | 交易性金融资产 | 289,935,447.96 | 239,934,127.96 | | 衍生金融资产 | | | | 应收票据 | 1,471,695.20 | 3,249,060.78 | | 应收账款 | 1,280,723,011.20 | 1,285,460,826.16 | | 应收款项融资 | 34,603,920.02 | 61,886,545.22 | | 预付款项 | 169,039,959.62 | 75,154,043.33 | | 应收保费 | ...

| 编制单位：江南模塑科技股份有限公司 | | | | | 2025年半年度 | | | | | 单位：万元 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 非经营性资金占用 | 资金占用方名称 | 占用方与上市公司 | 上市公司核算的 | 2025年期初占 | 占用累计发生 | 2025年半年度占 用资金的利息 | 2025年半年度 偿还累计发生 | 2025年06月30日期 | 占用形成原因 | 占用性质 | | | | 的关联关系 | 会计科目 | 用资金余额 | 金额（不含利 | （如有） | 金额 | 末占用资金余额 | | | | 现大股东及其附属 | | | | | 息） | | | | | | | 企业 | | | | | | | | | | | | 小计 | | | | | | | | | | | | 前大股东及其附属 | | | | | | | | | | | | 企业 | | | | | | | | | | | | 小计 | | | | | | | | | | | | 其他关联方及其附 | | ...

股票代码：000700 股票简称：模塑科技 公告编号：2025-048 江南模塑科技股份有限公司 第十二届董事会第二次会议决议公告 三、备查文件 1、第十二届董事会第二次会议决议； 特此公告。 江南模塑科技股份有限公司 董 事 会 2025 年 8 月 30 日 一、董事会会议召开情况 江南模塑科技股份有限公司（以下简称"模塑科技"、"公司"或"本公司"）第十二届 董事会第二次会议已于 2025 年 8 月 19 日以专人送达、传真或电子邮件形式发出会议通 知，并于 2025 年 8 月 29 日以现场结合通讯方式召开。本次董事会应出席董事 9 名，实 际出席董事 9 名，其中曹明芳先生、朱晓东先生、姚伟先生、李山先生以通讯方式参与。 会议由董事长曹克波先生主持，公司全体高级管理人员列席了本次会议。本次会议的召 集、召开符合《公司法》及《公司章程》的规定。 二、董事会会议审议情况 1、审议通过《关于公司 2025 年半年度报告及摘要的议案》 表决结果：同意 9 票，反对 0 票，弃权 0 票，议案获得通过。 详细情况请查阅 2025 年 8 月 30 日在《证券时报》、《上海证券报》及巨潮网 （www.cni ...

Financial Performance - The company's operating revenue for the first half of 2025 was ¥3,398,834,289.11, a decrease of 4.24% compared to ¥3,549,408,306.05 in the same period last year[19] - The net profit attributable to shareholders was ¥293,328,541.33, down 18.12% from ¥358,221,041.97 year-on-year[19] - The net profit after deducting non-recurring gains and losses was ¥241,935,574.62, a decline of 26.12% compared to ¥327,474,253.41 in the previous year[19] - The net cash flow from operating activities was ¥236,211,292.26, representing a significant drop of 58.16% from ¥564,581,345.14 in the same period last year[19] - The basic earnings per share were ¥0.3195, down 18.08% from ¥0.39 in the same period last year[19] - The weighted average return on equity decreased by 2.09 percentage points to 7.93% from 10.02% year-on-year[19] - The company reported a revenue of 3,398.83 million yuan, a decrease of 4.24% year-on-year, and a net profit attributable to shareholders of 293.33 million yuan, down 18.12% year-on-year[45] - The automotive sector accounted for 92.83% of total revenue, generating RMB 3.16 billion, down 4.43% year-on-year[55] - The company reported a total profit for the first half of 2025 of approximately $342.79 million, a decrease of 8.19% from $373.39 million in the first half of 2024[138] Assets and Liabilities - The total assets at the end of the reporting period were ¥7,995,482,074.39, a decrease of 4.41% from ¥8,363,941,935.09 at the end of the previous year[19] - The asset-liability ratio decreased from 58.14% at the beginning of 2025 to 50.89%, a reduction of 7.25 percentage points[45] - Total liabilities decreased from ¥4,862,493,048.10 to ¥4,068,847,626.68, a decline of approximately 16.31%[132] - Total current assets decreased from ¥3,939,551,322.66 to ¥3,792,143,702.52, a decline of approximately 3.74%[134] - Total non-current assets decreased from ¥3,944,805,095.35 to ¥3,862,702,938.35, a decline of approximately 2.07%[131] Cash Flow - The company’s operating cash flow net amount decreased by 58.16% to RMB 236.21 million, primarily due to a decline in sales[53] - The total cash inflow from operating activities decreased to CNY 3,129,919,579.59 in the first half of 2025, down 16.3% from CNY 3,740,283,505.58 in the same period last year[143] - Cash outflow from operating activities increased to CNY 2,893,708,287.33, compared to CNY 3,175,702,160.44 in the first half of 2024, reflecting a decrease of 8.9%[143] - Investment cash flow net amount for the first half of 2025 was CNY 101,877,869.08, significantly up from CNY 26,004,407.81 in the first half of 2024[144] - Financing cash flow net amount for the first half of 2025 was CNY -333,335,371.08, worsening from CNY -228,444,484.16 in the first half of 2024[144] Investments and Subsidiaries - The company has established production bases in Wuxi, Shanghai, Shenyang, Wuhan, Yantai, and Mexico, enhancing its international market competitiveness[30] - The company’s subsidiary in Mexico secured a project from a North American electric vehicle company, with an expected total sales of RMB 12.36 billion over a lifecycle of 5 years, starting production in January 2026[48] - The company has multiple guarantees for Shanghai Mingchen, with a total guarantee amount of 40,000 million yuan and actual amounts ranging from 1,000 million yuan to 1,500 million yuan[109] - The company has a total of 15 subsidiaries, including those involved in healthcare and real estate development[168] Research and Development - The company focuses on technological innovation, holding multiple patents and engaging in R&D for future technologies like digital grilles and lightweight materials[40] - Research and development expenses for the first half of 2025 were approximately $98.54 million, a decrease of 6.88% from $105.73 million in the first half of 2024[137] Governance and Compliance - The company plans to enhance its governance structure in compliance with relevant laws to create value for investors[52] - The company has committed to ensuring that its governance structure remains independent from its controlling shareholder[89] - The semi-annual financial report has not been audited[92] - The company has not experienced any bankruptcy restructuring during the reporting period[93] Market and Competition - The company faces significant market risks due to the cyclical nature of the automotive parts industry, influenced by macroeconomic factors and increasing competition in the domestic passenger car market[73] - The automotive market saw production and sales of 15.62 million and 15.65 million vehicles respectively in the first half of 2025, with a year-on-year growth of 12.5% and 11.4%[46] Social Responsibility - The company actively engages in social responsibility initiatives, including volunteer activities and donations to local schools, enhancing its community presence[85] - The company has conducted over 40 free medical services, benefiting approximately 8,000 individuals in the first half of 2025 through its affiliated Wuxi Mingci Hospital[85] Human Resources - The company has established a core team structure and is focusing on talent acquisition and training to address human resource risks associated with its expanding scale and external competition[76] - The company emphasizes employee loyalty and retention through competitive compensation and a strong corporate culture, aiming to mitigate human resource risks[76] Environmental Responsibility - The company has included nine subsidiaries in the legally mandated environmental information disclosure list, demonstrating its commitment to environmental responsibility[82]

Core Viewpoint - The legal opinion letter from Grandall Law Firm (Shanghai) addresses the adjustment of the grant price for the 2022 Restricted Stock Incentive Plan of Xiamen Weike Moulding Technology Co., Ltd, confirming that the adjustment has received necessary approvals and complies with relevant laws and regulations [4][6][8]. Summary by Sections Approval and Authorization of the Incentive Plan - The company held meetings on December 25, 2022, where the board and supervisory committee approved the draft of the 2022 Restricted Stock Incentive Plan and related proposals [4][5]. - On January 12, 2023, the company convened a temporary shareholders' meeting, which approved the incentive plan and authorized the board to handle related matters [5][6]. Adjustment Reasons and Methods - The adjustment of the grant price was due to the implementation of the 2024 profit distribution plan, which involved distributing cash dividends of 6 yuan per 10 shares to all shareholders [6][8]. - The adjustment method follows the formula: P = P0 - V, where P0 is the previous grant price, V is the dividend per share, and P is the adjusted grant price. The new grant price is set at 15.22 yuan per share [8]. Information Disclosure of the Incentive Plan - The law firm confirmed that the company has fulfilled its information disclosure obligations regarding the adjustment of the grant price, in accordance with relevant laws and regulations [8][9]. Conclusion Opinion - The law firm concludes that the adjustment of the grant price has obtained necessary approvals and complies with the Company Law and relevant regulations, and that the company has met its current information disclosure obligations [8][9].

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company's profitability is gradually recovering, with significant acquisition of major client projects [1] - The company has received project designations from leading luxury car manufacturers and well-known North American companies, with expected total sales of 20.4 billion and 12.4 billion respectively [3][4] - The automotive industry is experiencing a shift towards lightweight and customized exterior parts, with a growing demand for plastic bumpers to replace steel, enhancing the average selling price (ASP) per vehicle [6] Summary by Relevant Sections Financial Performance - In 2024, the company is expected to achieve revenue of 71.4 billion, a year-on-year decrease of 18.2%, while net profit is projected to be 6.3 billion, an increase of 39.5% [4] - For Q1 2025, the company reported revenue of 16.0 billion, a decrease of 11.7% year-on-year, but net profit increased by 2.7% to 1.5 billion, with a significant rise in non-recurring net profit by 45.1% [5] - The company forecasts revenues of 81.0 billion, 91.6 billion, and 103.1 billion for 2025, 2026, and 2027 respectively, with net profits of 7.1 billion, 8.1 billion, and 9.2 billion [8][10] Market Position and Client Base - The company ranks first in the domestic luxury car exterior parts market and has secured orders from major brands including Tesla, BMW, and various domestic electric vehicle manufacturers [6][7] - Recent project designations include significant sales volumes and revenues from luxury car clients, indicating a robust order book [7] Industry Trends - The global automotive bumper market is projected to grow from 156.8 billion in 2022 to 200.6 billion by 2025, with a compound annual growth rate (CAGR) of 6.4% [6] - The trend towards customization and enhanced consumer attributes in automotive exterior parts is expected to further increase the value per vehicle [6]

Group 1 - The core point of the announcement is that Jiangyin Mould Group Co., Ltd., the controlling shareholder of Jiangnan Mould Technology Co., Ltd., has partially released and re-pledged its shares [2][3] - The financing from the pledged shares is not intended to meet the operational needs of the listed company [2] - The controlling shareholder has sufficient repayment ability from its own and self-raised funds, and there are no non-operating fund occupations or violations that harm the company's interests [3] Group 2 - The pledged shares do not involve any performance compensation obligations [3] - The share pledge matters will not impact the company's operations or governance [3] - Relevant documents such as the release of securities pledge registration notice and share pledge registration certificate are available for review [3]