证券代码：001308 证券简称：康冠科技 公告编号：2025-070 深圳市康冠科技股份有限公司 3、特别风险提示：本次以闲置自有资金进行现金管理将按照相关规定严格 控制风险，选择安全性高、流动性好的稳健型理财产品，不做投机性、套利性 的交易操作，但金融市场受宏观经济的影响较大，不排除该项投资受到市场波 动的影响，敬请投资者注意投资风险。 深圳市康冠科技股份有限公司（以下简称"公司"）于 2025 年 9 月 29 日 召开第二届董事会第三十一次会议审议通过了《关于使用闲置自有资金进行现 金管理的议案》，同意公司及子公司（含全资子公司及控股子公司）使用不超 过人民币 80 亿元的闲置自有资金进行现金管理，本事项尚需提交公司股东大会 审议，有效期为自审议本议案的股东大会决议通过之日起 12 个月。 在上述额度及有效期内，资金可以滚动循环使用。同时为提高效率，董事 会授权董事长或其授权人员在有效期和额度范围内行使决策权并签署相关文件。 现将具体情况公告如下： 一、使用闲置自有资金进行现金管理的基本情况概述 （一）投资目的 在保证正常经营、资金安全的前提下，充分利用闲置资金、提高资金利用 关于使用闲置自有资金进行 ...

Group 1 - Kangguan Technology announced that approximately 459 million restricted shares will be unlocked and listed for trading on October 9, 2025, accounting for about 65.21% of the company's total share capital [1] - For the first half of 2025, Kangguan Technology's revenue composition is entirely from the manufacturing of computers, communications, and other electronic equipment, with a 100.0% share [1] Group 2 - As of the report, Kangguan Technology has a market capitalization of 16.6 billion yuan [2]

证券代码：001308 证券简称：康冠科技 公告编号：2025-067 深圳市康冠科技股份有限公司 首次公开发行前已发行股份上市流通提示性公告 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。 一、首次公开发行前已发行股份及上市后股份变动概况 （一）首次公开发行股份情况 经中国证券监督管理委员会《关于核准深圳市康冠科技股份有限公司首次 公开发行股票的批复》（证监许可〔2022〕375 号）核准，并经深圳证券交易 所《关于深圳市康冠科技股份有限公司人民币普通股股票上市的通知》（深证 上〔2022〕256 号）同意，公司首次公开发行的 42,487,500 股人民币普通股股 票自 2022 年 3 月 18 日起可在深圳证券交易所上市交易。 公司首次公开发行前总股本为 360,000,000 股，首次公开发行后总股本为 402,487,500 股。其中，当时公司有限售条件股份数量为 360,000,000 股，占公 司当时总股本的 89.44%，无限售条件股份数量为 42,487,500 股，占公司当时总 股本的 10.56%。 （二）上市后股份变动情况 2022 ...

华林证券股份有限公司 关于深圳市康冠科技股份有限公司 首次公开发行前已发行股份部分解除限售并上市流通的核查意见 华林证券股份有限公司（以下简称"华林证券"或"保荐机构"）作为深圳 市康冠科技股份有限公司（以下简称"康冠科技"或"公司"）首次公开发行股 票并上市的保荐机构，根据《证券发行上市保荐业务管理办法》《深圳证券交易 所股票上市规则》《深圳证券交易所上市公司自律监管指引第 13 号——保荐业 务》《深圳证券交易所上市公司自律监管指引第 1 号——主板上市公司规范运作》 等有关法律、法规的规定，对康冠科技首次公开发行前已发行股份部分解除限售 并上市流通事项进行了核查，具体核查情况如下： 一、首次公开发行前已发行股份概况 （一）首次公开发行股份情况 2024 年 5 月 29 日，公司在巨潮资讯网披露了《关于公司 2023 年股票期权 激励计划第一个行权期行权条件达成的公告》和《关于公司 2022 年股票期权激 励计划第二个行权期行权条件达成的公告》，经公司第二届董事会第二十次会议、 第二届监事会第十九次会议审议通过，公司 2023 年股票期权激励计划的第一个 行权期和 2022 年股票期权激励计划第二个行权 ...

Group 1: Core Insights - The event "AI+3D" technology aims to revolutionize visual experiences by integrating virtual images into real-world scenarios, showcasing the potential of the intelligent display industry in Longgang District [1][30] - Longgang's "AI+3D" intelligent display industry is characterized by its strong capabilities and diverse ecosystem, with companies leading in fields such as naked-eye 3D display and 5D holographic technology [5][31] Group 2: Company Highlights - Yinglun Technology, founded in 2010, has developed light field naked-eye 3D display technology that resolves traditional 3D display issues, achieving over 30% revenue growth and projected sales exceeding 100 million in 2024 [8][10] - The company plans to build the world's first fully automated liquid crystal lens 3D display screen production line, benefiting from supportive policies in Longgang [10][31] - Yuezhou Banquet's 5D holographic technology enhances event experiences, allowing for immersive virtual scenes in various settings, thus driving new consumption patterns in the cultural tourism sector [12][16] Group 3: Technological Innovations - The light field naked-eye 3D technology utilizes a nanometer-level optical maze to control light direction, enabling a natural 3D visual experience [9][10] - Banduo Technology, established in 2019, focuses on AI+3D display technology and aims to apply it across various sectors, including emergency response and medical fields, with plans for international market expansion [20][22] - Kangguan Technology has a comprehensive product matrix covering all display scenarios, emphasizing the integration of cutting-edge technology with user needs, and has a strong presence in over 100 countries [24][26] Group 4: Industry Development - Longgang's intelligent display industry benefits from a combination of policy support, technological innovation, and ecosystem collaboration, positioning it for future growth and global competitiveness [31][32] - The region's cluster effect, complete supply chain, and potential for technological breakthroughs contribute to its leading advantage in the smart display sector [32][30]

Core Viewpoint - On September 18, a total of 6 listed companies had their restricted shares unlocked, with a total market value of approximately 13.475 billion yuan [1] Summary by Category Restricted Share Unlocking - The companies involved in the unlocking of restricted shares include: - For 佛燃能源 (Forn Energy), stock code 002911, 9.9 million shares were unlocked under equity incentive restrictions - For 莱克电气 (Leek Electric), stock code 603355, 2.3528 million shares were unlocked under equity incentive restrictions - For 祥和实业 (Xianghe Industry), stock code 603500, 273,200 shares were unlocked under equity incentive restrictions - For 天地数码 (Tiandi Digital), stock code 300743, 222,700 shares were unlocked under equity incentive restrictions - For 康冠科技 (Kangguan Technology), stock code 001308, 459 million shares had an extended lock-up period but were unlocked - For 理工导航 (Rigong Navigation), stock code 688282, 5.148 million shares were unlocked [1]

Group 1: Nutritional Functional Food Industry - The nutritional functional food industry in China is experiencing rapid growth, with a market size projected to reach 522.3 billion yuan in 2024 and 720.3 billion yuan by 2029, representing a CAGR of 6.6% from 2024 to 2029 [2][7] - The market for nutritional functional foods specifically is expected to grow from 233.1 billion yuan in 2024 to 349.9 billion yuan in 2029, with a CAGR of 8.5% [7][8] - The industry has established a complete supply chain, including upstream raw material suppliers, midstream manufacturers, and downstream distributors [8][9] - Key companies in the North Exchange related to this industry include Kangbiter, Wuxi Jinghai, and Hengmei Health, each occupying different positions in the supply chain [9] Group 2: PEEK Material Industry - The PEEK material market in China is projected to reach 1.455 billion yuan in 2024, with a year-on-year growth of 21.14% [11] - PEEK materials are widely used in critical components across automotive, electronics, and aerospace sectors, with automotive manufacturing accounting for 27% of global PEEK consumption [11] - The competitive landscape for global PEEK production is characterized by a few strong players, with the UK-based Victrex being the largest producer [11] Group 3: Electronic Industry - Kangguan Technology - Kangguan Technology reported a revenue of 6.935 billion yuan in the first half of 2025, a year-on-year increase of 5.06%, with a net profit of 384 million yuan, down 6.03% [16][17] - The company plans to distribute a cash dividend of 3.60 yuan per 10 shares, reflecting a dividend payout ratio exceeding 65% [16] - The growth in innovative display products is notable, with a revenue increase of 39.16% in the first half of 2025 [17] Group 4: Pharmaceutical Industry - Sanofi Pharmaceutical - Sanofi Pharmaceutical achieved a revenue of 4.355 billion yuan in the first half of 2025, a slight decline of 1.07%, while the net profit increased by 19.13% to 1.358 billion yuan [20][21] - The company’s overseas revenue grew by 70%, with a presence in over 35 countries [21][22] - The company has a rich pipeline of clinical trials, with significant potential for future growth [22][23] Group 5: New Consumption - Chaohongji - Chaohongji has submitted an application for H-share listing, which is expected to enhance its global strategy and brand image [24][25] - The company has expanded its international presence by opening stores in Malaysia, Thailand, and Cambodia, with two stores in Cambodia as of the first half of 2025 [24][25] - The brand is focusing on younger consumers, with a significant portion of its customer base being from the post-80s to post-00s generation [26]

Core Viewpoint - Kangguan Technology reported a net profit attributable to shareholders of 384 million yuan in the first half of 2025, a year-on-year decline of 6.03% [1] - The company generated a net cash flow from operating activities of 800 million yuan, an increase of 180.43% year-on-year [1] - The company plans to distribute a cash dividend of 3.60 yuan (including tax) for every 10 shares, with a dividend payout ratio exceeding 65%, indicating a strong financial position and potential for sustained profitability [1] Financial Performance - In Q2, the company achieved a net profit attributable to shareholders of 170 million yuan, a year-on-year decline of 24.15% [1] - The overall revenue and shipment volume decreased in the first half of the year due to a strategic shift in the smart TV segment, focusing on high-margin clients along the "Belt and Road" initiative [1] - Despite the decrease in revenue and shipment volume, the gross margin showed marginal improvement [1] Product and Market Strategy - The company experienced growth in both volume and price for innovative display products, while demand for smart interactive display products remained stable [1] - The strategic adjustment in the smart TV segment aims to reduce shipments to large-scale clients and refocus on high-margin long-tail markets [1] - The company continues to strengthen its AI initiatives, venturing into areas such as AI glasses and companion robots [1] Investment Outlook - Given the positive developments in innovative display products, the company maintains a "buy" rating [1]

Investment Rating - The investment rating for the company is "Buy" (maintained) [5] Core Views - The company demonstrates confidence in its operations through mid-term dividends and continues to strengthen its AI layout [5] - The company reported a revenue of 6.935 billion yuan in the first half of 2025, a year-on-year increase of 5.06%, with a net profit attributable to shareholders of 384 million yuan, down 6.03% year-on-year [6] - The company plans to distribute a cash dividend of 3.60 yuan per 10 shares (including tax), with a dividend payout ratio exceeding 65%, reflecting a solid financial position and the ability to sustain profitability [6] Financial Performance - Revenue forecast for 2023 to 2027 is as follows: 13.447 billion yuan (2023), 15.587 billion yuan (2024), 18.840 billion yuan (2025E), 21.735 billion yuan (2026E), and 24.997 billion yuan (2027E) with growth rates of 16.05%, 15.92%, 20.87%, 15.37%, and 15.01% respectively [5] - The company’s innovative display products achieved a revenue of 899 million yuan in the first half of 2025, a year-on-year increase of 39.16%, with a shipment volume growth of 48.05% [6] - The smart interactive display products generated a revenue of 1.995 billion yuan, up 9.81% year-on-year, while smart TVs reported a revenue of 3.634 billion yuan with a gross margin of 11.88% [6] Profitability and Valuation - The forecasted net profit attributable to shareholders for 2025 to 2027 is 1.021 billion yuan (2025), 1.243 billion yuan (2026), and 1.453 billion yuan (2027), with year-on-year growth rates of 22.48%, 21.72%, and 16.94% respectively [7] - The current price-to-earnings (P/E) ratios are projected to be 15.91 (2025), 13.07 (2026), and 11.18 (2027) [7] - The company is actively enhancing its AI layout, venturing into AI glasses and companion robots, indicating a focus on innovation and market adaptation [6]

Group 1 - The U.S. and China held trade talks in Madrid on September 14 [2] - Poland's president signed a resolution allowing NATO troops to be stationed in Poland, part of NATO's "Eastern Sentinel" operation [3] - Japan's elderly population aged 65 and above reached a record high of 29.4% of the total population, totaling 36.19 million [4] Group 2 - New housing rental regulations took effect on September 15 to address market issues such as false listings and deposit disputes [5] - China's railway construction saw fixed asset investment exceed 500 billion yuan in the first eight months of the year, a year-on-year increase of 5.6% [6] - National grain purchases exceeded 100 million tons during the summer harvest season [7] Group 3 - The 2025 China International Service Trade Fair concluded with over 900 achievements in various sectors, attracting nearly 2,000 offline exhibitors [8] - Domestic flight ticket searches surged over 30% as the National Day holiday approaches [9] - Insurance companies in Beijing received over 10,000 claims due to hail damage to vehicles [10] Group 4 - Changzhou aims to become a "new energy capital," securing 33 key projects with a total investment of 33.7 billion yuan [11] - Trump urged an appeals court to approve the dismissal of Federal Reserve Governor Cook, citing allegations of mortgage fraud [12] - A U.S. judge ruled that the federal government's directive to lay off probationary employees was illegal [13] Group 5 - U.S. coffee retail prices surged nearly 21% year-on-year in August, marking the largest increase in nearly 28 years, attributed to tariff policies [15] - Venezuela's Defense Minister condemned U.S. military reconnaissance flights over Venezuela, claiming an increase in intelligence operations [16] - Train services in northern Germany faced significant delays due to a fire in a signal device [17] Group 6 - Xibei announced a suspension of kitchen tours in its restaurants to ensure operational efficiency [19] - Reports of overseas credit card fraud have raised concerns about payment security among users of Shanghai Pudong Development Bank [20] - This week, 47 companies will have their lock-up shares released, with a total market value of approximately 78.55 billion yuan [21] Group 7 - Four new stocks are set to be issued this week in the Shanghai and Shenzhen markets, with specific issuance dates and prices outlined [25][26]