关于深圳市康冠科技股份有限公司 2023 年和 2024 年股票期权激励计划 调整行权价格的 法律意见书 中国 深圳 福田区益田路 6001 号太平金融大厦 11、12 楼 邮编：518038 11&12/F, TaiPing Finance Tower, 6001 Yitian Road, Futian District, Shenzhen, P.R.CHINA 电话(Tel)：(0755)88265288 传真(Fax)：(0755)88265537 电子邮件（E-mail）：info@sundiallawfirm.com 网址（Website）：https://www.sundiallawfirm.com 法律意见书 广东信达律师事务所 关于深圳市康冠科技股份有限公司 2023 年和 2024 年股票期权激励计划 调整行权价格的 法律意见书 信达励字（2025）第 160 号 致：深圳市康冠科技股份有限公司 根据深圳市康冠科技股份有限公司（以下简称"公司"、"康冠科技"）与 广东信达律师事务所（以下简称"信达"）签订的法律顾问聘请协议，信达接受 公司的委托，担任公司 2023 年股票期权激励计划（以下简 ...

证券代码：001308 证券简称：康冠科技 公告编号：2025-083 深圳市康冠科技股份有限公司 第三届董事会第三次会议决议公告 公司董事会薪酬与考核委员会审议通过了本议案。 具体内容详见公司同日在巨潮资讯网（www.cninfo.com.cn）披露的《关于调 整 2023 年和 2024 年股票期权激励计划行权价格的公告》。 三、备查文件 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、董事会会议召开情况 深圳市康冠科技股份有限公司（以下简称"公司"）第三届董事会第三次会议 于 2025 年 11 月 18 日上午 10:00 以现场及通讯相结合的方式在公司会议室召开， 其中公司独立董事邓燏、孙小卫、何绍茂以通讯方式参加本次会议。公司于 2025 年 11 月 14 日以邮件形式发出本次董事会会议通知。本次会议由董事长凌斌先生主 持，会议应出席董事 7 人，实际出席董事 7 人。公司全体董事出席了会议，高级管 理人员列席了会议。本次会议的召集、召开和表决程序符合国家有关法律、法规及 《公司章程》的规定，会议形成的决议合法有效。 二、董事会会议审议情况 ...

Group 1 - The core point of the article is that Kangguan Technology announced the adjustment of the stock option incentive plan for 2023 and 2024 during its board meeting held on November 18, 2025 [1] - The company's revenue composition for the first half of 2025 is entirely from the manufacturing of computers, communications, and other electronic devices, accounting for 100.0% [1] - As of the report, Kangguan Technology has a market capitalization of 15.3 billion yuan [1]

Core Viewpoint - 康冠科技 is experiencing a decline in stock price and trading volume, with a market capitalization of 15.335 billion yuan and a recent drop of 1.76% in share price [1] Group 1: Company Overview - 康冠科技 specializes in the research, production, and sales of smart display products, with a revenue composition of 52.41% from smart TVs, 28.76% from smart interactive display products, 12.95% from innovative display products, and 5.88% from component sales [7] - The company was founded in 1995 and went public on March 18, 2022, with its headquarters located in Shenzhen, Guangdong Province [7] - As of September 30, 2025, 康冠科技 reported a total revenue of 10.78 billion yuan, a year-on-year decrease of 5.37%, and a net profit attributable to shareholders of 503 million yuan, down 9.92% year-on-year [8] Group 2: Market Position and Strategy - 康冠科技 has been actively expanding its own brand business, launching products such as smart beauty mirrors under its brand "福比特 (FPD)" since its establishment in 2007 [2] - The company has been recognized as a "专精特新" (specialized, refined, distinctive, and innovative) small giant enterprise, which signifies its strong innovation capabilities and high market share in niche markets [3] Group 3: Financial and Trading Analysis - The company’s overseas revenue accounts for 86.24%, benefiting from the depreciation of the Chinese yuan [3] - Recent trading data indicates a net outflow of 202.31 million yuan from main funds, with a lack of clear trends in major holdings [4][5] - The average trading cost of the stock is 22.84 yuan, with the current price near a support level of 21.74 yuan, indicating potential volatility [6]

Core Viewpoint - On November 17, a total of 13 target price adjustments were made by brokerages for listed companies, with notable increases in target prices for Kangguan Technology, Kede CNC, and Honglu Steel Structure, showing target price increases of 44.60%, 43.03%, and 37.73% respectively, across the optical optoelectronics, general equipment, and professional engineering industries [1][3]. Group 1: Target Price Increases - Kangguan Technology received a target price of 32.00 yuan with a target price increase of 44.60% [3] - Kede CNC was assigned a target price of 86.95 yuan, reflecting a 43.03% increase [3] - Honglu Steel Structure has a target price of 24.42 yuan, indicating a 37.73% increase [3] - Other companies with significant target price increases include Zhongxin International with a target price of 159.30 yuan (35.42% increase) and Sinopec with a target price of 7.60 yuan (31.49% increase) [3] Group 2: Brokerage Recommendations - A total of 51 listed companies received brokerage recommendations on November 17, with Aotewei and Kede CNC each receiving 2 recommendations [4][5] - Aotewei's closing price was 42.55 yuan, while Kede CNC's closing price was 60.79 yuan [5] Group 3: Rating Adjustments - On November 17, brokerages raised ratings for 2 companies, including Sinopec's rating upgraded from "Hold" to "Buy" by Huatai Securities, and Hongyuan Electronics' rating upgraded from "Hold" to "Buy" by CITIC Securities [4] - One company, Honglu Steel Structure, had its rating downgraded from "Strong Buy" to "Recommended" by Huachuang Securities [4] Group 4: First Coverage - On November 17, brokerages initiated coverage on 7 companies, including Wan Energy Power with an "Accumulate" rating from China Merchants Securities, and Hengyin Technology with an "Accumulate" rating from Zhongyou Securities [7][8] - Other companies receiving first coverage include Jinlei Co. with a "Buy" rating, Zhaoyan Pharmaceutical with an "Accumulate" rating, and Weisheng Information with a "Recommended" rating [8]

Core Insights - On November 17, 2023, brokerage firms provided target prices for listed companies, with notable increases for Kangguan Technology, Kede CNC, and Honglu Steel Structure, showing target price increases of 44.60%, 43.03%, and 37.73% respectively [1][3] Group 1: Target Price Increases - Kangguan Technology received a target price of 32.00 yuan, reflecting a 44.60% increase [3] - Kede CNC's target price is set at 86.95 yuan, indicating a 43.03% increase [3] - Honglu Steel Structure has a target price of 24.42 yuan, with a 37.73% increase [3] Group 2: Brokerage Recommendations - A total of 51 listed companies received brokerage recommendations on November 17, with Aotewei and Kede CNC each receiving 2 recommendations [4][5] - Aotewei's closing price was 42.55 yuan, while Kede CNC's closing price was 60.79 yuan [5] Group 3: Rating Adjustments - Two companies had their ratings upgraded on November 17, including China Petroleum, which was upgraded from "Hold" to "Buy" by Huatai Securities, and Hongyuan Electronics, upgraded from "Hold" to "Buy" by CITIC Securities [4] - One company, Honglu Steel Structure, had its rating downgraded from "Strong Buy" to "Recommended" by Huachuang Securities [4] Group 4: First Coverage - Seven companies received initial coverage on November 17, including Waneng Power with an "Accumulate" rating from China Merchants Securities, and Hengyin Technology with an "Accumulate" rating from Zhongyou Securities [7][8] - Other companies receiving first coverage include Jinlei Co., Ltd. with a "Buy" rating, Zhaoyan Pharmaceutical with an "Accumulate" rating, and Weisheng Information with a "Recommended" rating [7][8]

Overview of Guarantees - Shenzhen Kangguan Technology Co., Ltd. approved a total guarantee amount not exceeding RMB 800 million for its subsidiaries during board meetings held on August 25 and October 15, 2025 [3] - The approved guarantee amounts for its wholly-owned subsidiaries are RMB 300 million for Huizhou Kangguan Technology Co., Ltd. and RMB 260 million for Shenzhen Kangguan Commercial Technology Co., Ltd. [3] Guarantee Progress - Recently, Kangguan Technology provided a maximum joint liability guarantee for Huizhou Kangguan's application for a comprehensive credit limit of RMB 30 million from China Merchants Bank Shenzhen Branch [4] - A similar guarantee of RMB 20 million was provided for Kangguan Commercial's application to the same bank [4] Financial Status of Guaranteed Parties - All guaranteed parties are wholly-owned subsidiaries of the company and are not listed as dishonest executors [7] - The total amount of guarantees provided by the company and its subsidiaries is RMB 444.41 million, which accounts for 57.84% of the company's latest audited net assets [9] Guarantee Agreement Details - The guarantees are structured as irrevocable joint liability guarantees with a guarantee period extending from the effective date of the guarantee until three years after the maturity of each loan or financing [8] - The maximum principal amounts guaranteed are RMB 30 million for Huizhou Kangguan and RMB 20 million for Kangguan Commercial [8] Documentation - The company has signed two irrevocable guarantee agreements with China Merchants Bank Shenzhen Branch [10]

证券代码：001308 证券简称：康冠科技 公告编号：2025-082 深圳市康冠科技股份有限公司 关于为全资子公司提供担保的进展公告 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。 特别风险提示： 1、本次被担保对象惠州市康冠科技有限公司资产负债率超过 70%； 2、公司及下属全资或控股子公司担保金额（均为公司合并报表范围内主体 之间的担保）超过上市公司最近一期经审计净资产 50%。 敬请投资者注意相关风险。 一、担保情况概述 深圳市康冠科技股份有限公司（以下简称"公司"、"上市公司"或"康 冠科技"）于 2025 年 8 月 25 日、2025 年 10 月 15 日分别召开了第二届董事会 第三十次会议、2025 年第二次临时股东大会，审议通过了《关于 2025 年度公 司及子公司提供担保额度预计的议案》，同意公司为子公司提供担保、子公司 之间互相担保及子公司对上市公司提供担保额度总计不超过等值人民币 800,000.00 万元。担保额度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。 其中，公司下属全资子公司惠州市康冠科技有限公司（以下简称"惠 ...

Core Viewpoint - Shenzhen Das Intelligent Co., Ltd. has officially signed a project contract with Shenzhen Kangguan Technology Co., Ltd. regarding the smart display technology park (Phase I) in Shenzhen [1] Company Summary - The project involves the development of a smart display technology park, indicating a focus on advancing smart technology solutions within the region [1] - The collaboration between Das Intelligent and Kangguan Technology highlights a strategic partnership aimed at enhancing technological infrastructure [1] Industry Summary - The signing of the contract reflects ongoing investments in smart technology and innovation within the Shenzhen area, which is known for its tech-driven economy [1] - This project may contribute to the growth of the smart display sector, aligning with broader trends in digital transformation and smart city initiatives [1]

Investment Rating - The report maintains a "Strong Buy" investment rating for the company [1][3]. Core Insights - The company's short-term innovation business is driving performance beyond expectations, with accelerated AI hardware innovation catalyzing a valuation reassessment. Long-term, the company is transforming its proprietary brand and optimizing its profit structure, fully embracing AI and robotics innovation to create a new growth curve [1]. - The company has achieved significant growth in its innovative product lines, with a 37.11% year-on-year revenue increase in the innovation segment, driven by successful overseas expansion of its proprietary brands [7]. - The company is actively investing in the home care robotics sector, having secured seven related patents, indicating a strategic focus on capturing opportunities in the aging economy [7]. Financial Data and Valuation - The projected total revenue for 2023 is 13,447 million yuan, with a year-on-year growth of 16%. However, a decline of 3% is expected in 2025, followed by a recovery in subsequent years [2][15]. - The company's net profit attributable to shareholders is forecasted to decrease to 707 million yuan in 2025, reflecting a 15% decline from the previous year, but is expected to rebound to 937 million yuan in 2026 [2][15]. - The current price-to-earnings (PE) ratio is 22.5 for 2025, with a projected PE of 17.0 in 2026, indicating potential for valuation improvement as earnings recover [2][15]. Shareholder Returns - The company has returned 17 billion yuan to shareholders through dividends since its IPO, demonstrating a commitment to shareholder value [7]. - The company plans to reward shareholders with AI products based on their holdings, further emphasizing its focus on shareholder engagement [7].