Core Viewpoint - The company has announced the completion of the first unlock period for its restricted stock incentive plan, allowing 221 eligible participants to unlock a total of 7,665,900 shares, which represents 0.73% of the company's total share capital, effective from May 13, 2025 [2][12]. Summary by Sections Incentive Plan Details - The first unlock period for the restricted stock incentive plan has been achieved, with 221 eligible participants and 7,665,900 shares available for unlocking [2][10]. - The unlock date for these shares is set for May 13, 2025 [3][12]. Approval Process - The company held multiple board and supervisory meetings to approve the incentive plan and its related documents, including the management methods and assessment criteria [4][6]. - The plan received approval from the State-owned Assets Supervision and Administration Commission in February 2023 [4][5]. Historical Context - The initial grant of restricted stocks was completed on May 5, 2023, with a total of 23.3 million shares granted to 222 participants [7][10]. - Adjustments were made to the incentive plan, including the removal of certain benchmark companies and the repurchase of shares due to the death of one participant [11][12]. Unlock Conditions - The first unlock period lasts from May 5, 2023, to May 4, 2025, with the first unlock date being May 6, 2025 [9][10]. - The board confirmed that all conditions for unlocking the shares have been met [10]. Share Structure Changes - Following the unlocking of shares, the company's total share capital will be adjusted accordingly, with the current total being 1,050,718,097 shares after previous repurchases [8][12].

证券代码：000969 证券简称：安泰科技 公告编号：2025-019 安泰科技股份有限公司 关于限制性股票激励计划首次授予部分第一个解除限售期解除 限售股份上市流通的提示性公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假记载、误 导性陈述或重大遗漏。 特别提示： 1、公司 2023 年实施的限制性股票激励计划首次授予部分第一个解除限售 期解除限售条件已经成就，符合解除限售条件的激励对象共计 221 名，可解除限 售的限制性股票数量为 7,665,900 股，占公司最新总股本的 0.73%。 2、本次解除限售股份可上市流通的日期为：2025 年 5 月 13 日。 安泰科技股份有限公司（以下简称"公司"）于 2025 年 4 月 24 日召开第九 届董事会第四次会议及第九届监事会第四次会议，审议通过了《关于限制性股票 激励计划首次授予部分第一个解除限售期解除限售条件成就的议案》，根据《安 泰科技股份有限公司限制性股票激励计划（草案修订稿）》（以下简称"本次激 励计划"）的规定，本次激励计划首次授予部分第一个解除限售期解除限售条件 已经成就。根据公司 2023 年第一次临时股东大会对董事 ...

Core Viewpoint - The aviation engine concept sector has shown a positive performance, with a 2.86% increase, ranking 7th among various concept sectors, indicating strong investor interest and potential growth in this area [1][2]. Market Performance - As of May 8, the aviation engine concept saw 74 stocks rise, with notable gainers including Chenxi Aviation and Huarun Co., both reaching a 20% limit up. Other significant performers included Aileda, Rifa Precision Machinery, and Xiling Power, which rose by 9.76%, 7.75%, and 7.37% respectively [1]. - Conversely, stocks such as Maixinlin, Julun Intelligent, and Jizhi Co. experienced declines of 2.64%, 2.55%, and 1.27% respectively [1]. Capital Flow - The aviation engine concept sector experienced a net outflow of 678 million yuan from major funds, with 38 stocks receiving net inflows. Seven stocks saw net inflows exceeding 30 million yuan, led by Haoneng Co. with a net inflow of 136 million yuan [2][3]. - Other notable net inflows included Hangfa Power, Rifa Precision Machinery, and AVIC Heavy Machinery, with net inflows of 81.44 million yuan, 62.90 million yuan, and 56.73 million yuan respectively [2]. Fund Inflow Ratios - Haoneng Co. led the fund inflow ratio with 48.12%, followed by New Dazhou A and Antai Technology at 11.99% and 10.86% respectively [3].

Financial Performance - In 2024, the company achieved a revenue of CNY 7.573 billion, with a new contract amount of CNY 8.11 billion and a net profit of CNY 372 million, resulting in a cash flow from operations of CNY 770 million and a debt-to-asset ratio of 42.68% [1] - In Q1 2025, the company reported a revenue of CNY 1.782 billion, a year-on-year decrease of 5.76%, while the net profit was CNY 82.55 million, an increase of 4.95% [2] - The total sales, management, and financial expenses amounted to CNY 110 million, accounting for 6.17% of revenue, a decrease of 13.3% year-on-year [2] Business Segments - The advanced functional materials and devices segment generated CNY 2.803 billion, accounting for 37.01% of total revenue [1] - The special powder metallurgy materials and products segment contributed CNY 2.962 billion, representing 39.10% of total revenue [1] - The high-quality special steel and welding materials segment earned CNY 1.651 billion, making up 21.80% of total revenue [1] - The environmental and high-end technology services segment generated CNY 158 million, accounting for 2.09% of total revenue [1] Non-Crystalline Nanocrystalline Materials - In 2024, the non-crystalline segment signed contracts worth CNY 1.17 billion, a 33% increase year-on-year, with revenue reaching CNY 974 million, up 31.63% [2] - The production and sales volume exceeded 33,000 tons, marking a 65% year-on-year growth [2] - The company is investing in a new project for 10,000 tons of non-crystalline strip material to meet high-end energy-saving transformer market demands [2] Powder High-Speed Steel Project - In 2024, the company signed contracts worth CNY 1.585 billion, with revenue of CNY 1.43 billion, reflecting a year-on-year growth of 5% and 6.89% respectively [4] - The newly built powder high-speed steel production line achieved an output of over 1,000 tons, generating nearly CNY 100 million in sales [4] Nuclear Power and Fusion Technology - The company is actively involved in the nuclear power sector, with 36 nuclear power units approved in the first four years of the 14th Five-Year Plan [5] - The company has developed advanced materials for various nuclear technologies, including tungsten-molybdenum and nickel-based high-temperature alloy strips [5] - The company is the first in China to produce fusion tungsten-copper filters, with a complete technology chain from raw materials to component delivery [6] Export and Market Impact - In 2024, overseas business accounted for 27.26% of total revenue, with approximately 7% of revenue coming from the U.S. market [7] - The recent U.S. tariff policy has had some impact on exports, but the overall effect is manageable [7]

Group 1 - The company, Antai Technology Co., Ltd., is planning to hold a performance briefing for the fiscal year 2024 and the first quarter of 2025 on May 13, 2025, from 11:00 to 12:00 [1] - The meeting will be conducted both in-person and via an online conference call, with key personnel including the Chairman, General Manager, Independent Directors, and Financial Director in attendance [1] - Investors are encouraged to submit questions in advance through a designated website or WeChat mini-program by May 12, 2025, to enhance the relevance of the discussion [1] Group 2 - The company aims to provide a comprehensive understanding of its operational performance and development strategy during the briefing [1] - The meeting will take place at the company's Yongfeng Industrial Park [1] - Contact information for investor participation includes designated representatives and a registration phone number [1]

Summary of Antai Technology's Conference Call Company Overview - **Company**: Antai Technology - **Industry**: Advanced materials and manufacturing Key Financial Performance - **Q1 2025 Revenue**: Increased by 0.2% year-on-year, 3% quarter-on-quarter, with a scale growth of 15% despite challenges [2][3] - **Contract Value**: Slight increase of 0.2% compared to last year, with a quarter-on-quarter revenue growth of 3% [3] Business Segment Performance Contact Pool and Amorphous Materials - **Contract Value**: Decreased by 5% year-on-year, with revenue slightly increasing by 2% [2][5] - **Capacity Release**: Insufficient capacity release impacted profits, but market share remained stable [5] Amorphous and Nanocrystalline Materials - **Contract Value**: Grew by 8%, with revenue exceeding 20% growth [2][5] - **Profit Growth**: Significant profit increase due to low base [2] High-end Powder Business - **Tungsten-Molybdenum Alloys**: Contract value decreased by 2% year-on-year due to export impacts, but domestic semiconductor and aerospace demand provided support [6] - **Powder Steel**: Both revenue and contract value decreased by 20% due to export impacts [6] High-speed Steel Tools - **Performance**: Contract value increased by over 10% year-on-year, with revenue growth between 15%-20% and profit growth exceeding 30% [2][7] - **Drivers**: Increased sales from powder steel and structural adjustments in product offerings [7] Market Trends and Strategic Focus - **Domestic Market Growth**: Contract value increased by over 8% year-on-year and over 20% quarter-on-quarter, driven by domestic substitution [9] - **Export Challenges**: Decrease in exports to the U.S., but strategic products remain unchanged; the company is expanding into non-U.S. markets [9] Future Outlook - **Confidence in Growth**: The company remains optimistic about future operations, with a focus on domestic substitution trends providing new opportunities [8] - **Controlled Nuclear Fusion**: The company has been involved in this field for over a decade, with plans to become a major supplier of specific materials as market interest grows [4][10] - **Nuclear Power Sector**: Anticipates stable new orders from the approval of ten nuclear reactors valued at approximately 200 billion [4][11] Production and Capacity Goals - **System Materials Production**: Aiming to increase production capacity by 3,000 tons in 2025, targeting a total output of 9,000 to 10,000 tons [4][13] - **Focus Areas**: Development in industrial motors, servo motors, and micro-special motors, with plans to gradually ramp up production after customer certifications [13] Additional Insights - **Investment in Infrastructure**: The company relies on tungsten-molybdenum platforms and has significant infrastructure in place for production [12] - **Market Adaptation**: The company is actively adapting to market changes and customer demands, particularly in emerging sectors like electric vehicles and robotics [13]

Investment Rating - The report maintains a "Buy" rating for the company [5] Core Insights - The company's Q1 2025 performance met expectations, with revenue of 1.782 billion RMB, a quarter-on-quarter increase of 3.62% but a year-on-year decrease of 5.76%. The net profit attributable to shareholders was 83 million RMB, showing a significant quarter-on-quarter increase of 155.07% and a year-on-year increase of 4.95% [2][3] - The overall product prices have increased, with average prices for praseodymium-neodymium oxide, tungsten, and molybdenum rising by 3.13%, 0.55%, and decreasing by 5.02% respectively in Q1 2025. The company achieved a gross profit of 296 million RMB and a gross margin of 16.61%, reflecting a quarter-on-quarter increase of 4.96% and 0.22 percentage points [3] - The company has made progress in cost reduction and efficiency improvement, with operating expenses decreasing by 26.49% to 197 million RMB, and the expense ratio down by 4.53 percentage points to 11.05% [3] Summary by Sections Financial Performance - For Q1 2025, the company reported revenue of 1.782 billion RMB, net profit of 83 million RMB, and a non-recurring net profit of 78 million RMB, indicating significant growth in profitability [2] - The company expects revenues of 8.2 billion RMB, 8.9 billion RMB, and 9.6 billion RMB for 2025, 2026, and 2027 respectively, with net profits projected at 325 million RMB, 369 million RMB, and 437 million RMB [5] Business Growth - The non-crystalline business showed strong growth in 2024, with new contracts amounting to 1.17 billion RMB, a year-on-year increase of 33%. Revenue reached 974 million RMB, with a net profit of 51.35 million RMB, reflecting a year-on-year growth of 31.63% and 60.79% respectively [4] - The company is the first in China to have the capability to produce fusion tungsten-copper filters, with a complete technology chain from raw materials to component delivery, receiving high recognition from international clients [4]

证券代码：000969 证券简称：安泰科技 公告编号：2025-17 首次授予部分第一个解除限售期符合解除限售条件的激励对象人数：221 人。 首次授予部分第一个解除限售期拟解除限售数量：7,665,900 股，占目前 公司总股本的 0.73%。 首次授予部分第一个解除限售期解除限售事宜需向深圳证券交易所、中 国证券登记结算有限责任公司深圳分公司申请办理相关手续，在手续办理完成 后上市流通前，公司将发布相关提示性公告，敬请投资者注意。 安泰科技股份有限公司（以下简称"公司"）于 2025 年 4 月 24 日召开了第 九届董事会第四次会议和第九届监事会第四次会议，审议通过了《关于限制性 股票激励计划首次授予部分第一个解除限售期解除限售条件成就的议案》，董 事会、监事会均认为公司限制性股票激励计划首次授予部分第一个解除限售期 的解除限售条件均已成就。根据公司 2023 年第一次临时股东大会对董事会的授 权及《安泰科技股份有限公司限制性股票激励计划（草案修订稿）》（以下简 称"本次激励计划"）的规定，同意公司在首次授予部分第一个限售期届满后， 为符合解除限售条件的 221 名激励对象办理首次授予部分第一个解除限售 ...

证券代码：000969 证券简称：安泰科技 上海荣正企业咨询服务（集团）股份有限公司 关于 安泰科技股份有限公司 限制性股票激励计划首次授予部分第一个解除 限售期解除限售条件成就相关事项 之 独立财务顾问报告 2025 年 4 月 | 一、释义 3 | | --- | | 二、声明 4 | | 三、基本假设 5 | | 四、本激励计划的审批程序 6 | | 五、独立财务顾问意见 9 | | （一）本激励计划解除限售条件成就的说明 9 | | （二）本次实施的激励计划与已披露的股权激励计划存在差异的说明 10 | | （三）本激励计划第一个解除限售期可解除限售的具体情况 11 | | （四）结论性意见 12 | 一、释义 本独立财务顾问报告中，除非文义载明，下列简称具有如下含义： | 公司、安泰科技 | 指 | 安泰科技股份有限公司 | | --- | --- | --- | | 独立财务顾问 | 指 | 上海荣正企业咨询服务（集团）股份有限公司 | | 本激励计划、本计划 | 指 | 安泰科技股份有限公司限制性股票激励计划 | | 限制性股票 | 指 | 公司根据本激励计划规定的条件和价格，授予激励对象一定 ...