Group 1 - The core viewpoint of the article is that the company, Invt, has stated that its industrial automation products currently do not have applications in the field of embodied intelligence [1]

Group 1 - The core viewpoint of the article is that the company, Invt, currently does not have any applications in the field of embodied intelligence related to its industrial automation products [1]

Core Viewpoint - The long-standing merger and acquisition dispute involving Invt and Hanruide has concluded with a court ruling in favor of Invt, but the company faces challenges in collecting the awarded compensation due to Hanruide's prior dissolution [1][2]. Group 1: Legal Proceedings and Outcomes - The Guangdong High Court ruled that Hanruide must pay Invt 64.9988 million yuan plus interest by December 31, 2025, but Hanruide was dissolved in 2019, complicating the collection process [1]. - Invt initially planned to acquire 100% of Prineywei for 250 million yuan, with performance guarantees set for net profits from 2017 to 2019, which were later adjusted due to market changes [1]. - The court's decision came after a lengthy legal process, with Invt filing a lawsuit in 2019 but lacking complete performance data until 2021, which delayed the determination of any breach of contract [2]. Group 2: Challenges in Enforcement - The absence of prior similar cases may have influenced the Shenzhen Intermediate Court's unfavorable ruling for Invt, highlighting the complexities of M&A litigation [2]. - The prolonged litigation process and lack of effective measures to manage the debtor's obligations increased the difficulty for Invt in asserting its rights [2]. - Without pre-agreed terms in the acquisition agreement, creditors face challenges in recovering assets from dissolved companies, as shareholders may have transferred assets or claimed "legal dissolution" to evade responsibilities [2]. Group 3: Recommendations for Future Transactions - To prevent issues related to the dissolution of responsible parties, it is recommended to include clauses that impose joint liability on original shareholders for performance commitments even after company dissolution [2][3]. - Companies should monitor the performance capabilities of original shareholders, ensuring they have sufficient assets and creditworthiness, and may require collateral or guarantee accounts to secure compensation [3]. - Payment structures should be carefully considered, favoring a combination of equity and installment payments tied to performance milestones to mitigate recovery risks [3].

Core Viewpoint - The long-standing merger dispute involving Invt (002334) has reached a final ruling, but the company faces challenges in collecting the awarded compensation due to the bankruptcy of the counterparty, Hanruide, which was dissolved in 2019 [1] Group 1: Legal Proceedings and Outcomes - The Guangdong High Court ruled that Hanruide must pay Invt 64.9988 million yuan plus interest by December 31, 2025, but the company is unlikely to collect this amount due to Hanruide's prior dissolution [1] - Invt initially planned to acquire 100% of the shares of Prineywei for 250 million yuan, with performance guarantees from Hanruide for net profits of at least 15 million, 30 million, and 55 million yuan for the years 2017 to 2019 [1] - The acquisition price was later reduced to 150 million yuan, with a revised performance commitment of a total net profit of at least 55 million yuan from 2017 to 2020 [1] Group 2: Challenges in Enforcement - The complexity of the case is highlighted by the fact that Invt filed a lawsuit in 2019 without complete performance data, making it difficult to determine Hanruide's breach of contract until the 2022 judgment [2] - The lack of precedents in similar cases may have contributed to the unfavorable ruling for Invt in the Shenzhen Intermediate Court, which dismissed a claim for over 300 million yuan in performance compensation [2] - The absence of effective debt management measures during the litigation process further complicated Invt's ability to enforce its rights [2] Group 3: Recommendations for Future Transactions - To prevent similar issues in future mergers, it is recommended to implement measures such as anti-dissolution clauses and joint liability for original shareholders even after company dissolution [2][3] - Companies should monitor the performance capabilities of the responsible parties and may require asset pledges or guarantee accounts to ensure the enforceability of compensation [3] - A mixed payment approach combining equity and installment payments, along with performance milestones, is suggested to mitigate recovery risks [3]

Core Viewpoint - The long-standing merger dispute involving Yingweitong has concluded with a court ruling in favor of the company, but challenges remain in collecting the awarded compensation due to the dissolution of the counterparty, Hanruide [1][2]. Group 1: Legal Proceedings and Outcomes - The Guangdong High Court ruled that Hanruide must pay Yingweitong 64.9988 million yuan plus interest by December 31, 2025, but the company has been dissolved since 2019, complicating the collection of the awarded amount [1]. - The acquisition process began in 2017 when Yingweitong planned to acquire 100% of the electric vehicle motor company, Pulinyiwei, for 250 million yuan, with performance guarantees set for 2017-2019 [1]. - The acquisition price was later reduced to 150 million yuan in 2018, with revised performance commitments for 2017-2020, but Pulinyiwei failed to meet these commitments, leading to a 128 million yuan goodwill impairment recorded by Yingweitong [1][2]. Group 2: Challenges in Enforcement - The complexity of the case was exacerbated by the lack of complete financial data until 2021, making it difficult to determine if Hanruide had breached its obligations [2]. - The absence of precedents in similar cases may have influenced the unfavorable ruling by the Shenzhen Intermediate Court in 2022, which only supported penalties and not the full compensation claim [2]. - The dissolution of Hanruide has led to significant challenges in enforcing the court's ruling, as creditors face difficulties in proving claims against a dissolved entity [2][3]. Group 3: Recommendations for Future Transactions - To prevent similar issues in future mergers, companies should include clauses to prevent the dissolution of the counterparty and ensure that original shareholders remain liable for performance commitments even after dissolution [2][3]. - Companies should conduct thorough due diligence on the financial health and creditworthiness of original shareholders, potentially requiring collateral or guarantees to secure performance obligations [3]. - Payment structures should be carefully designed, favoring equity or convertible bonds over cash payments, and incorporating performance milestones to mitigate risks associated with compensation claims [3].

Core Viewpoint - After several years, Invt (SZ002334, stock price 9.03 yuan, market value 7.429 billion yuan) has won the final judgment in the performance compensation claim case [1] Group 1: Legal Proceedings - On January 5, Invt announced that it received a civil judgment from the Guangdong Provincial High People's Court, which ordered Shenzhen Hanruide Innovation Investment Co., Ltd. to pay 64.9988 million yuan plus interest within ten days of the judgment taking effect [1] - The case originated from a 2017 acquisition where Invt planned to acquire 100% of Tangshan Plin Yiwei Technology Co., Ltd. for 250 million yuan, with performance commitments from the original shareholders [4] - In 2019, Invt discovered that Hanruide had been deregistered in January of that year, which affected the ability to claim performance compensation [5] Group 2: Financial Performance and Adjustments - The original performance commitments included net profits of no less than 15 million yuan in 2017, 30 million yuan in 2018, and 55 million yuan in 2019, which were later adjusted due to market conditions [4] - By March 2021, an audit revealed that the net profits from 2017 to 2020 did not meet the adjusted total of 55 million yuan, leading to a complete impairment of 128 million yuan goodwill related to the investment [8] - In September 2022, a lower court ruled that Hanruide should pay a penalty of 230,000 yuan and an administrative fine of 93,000 yuan, but rejected Invt's claim for over 300 million yuan in performance compensation [8] Group 3: Current Status and Future Actions - As of January 6, Invt's representatives indicated that the company is actively pursuing the collection of the compensation, contingent on whether Hanruide's shareholders have any executable assets [3][9] - The execution of the judgment remains uncertain due to Hanruide's lack of actual operations [8]

特别提示： 1、案件所处的诉讼（仲裁）阶段：二审判决 深圳市英威腾电气股份有限公司公告(2026) 证券代码：002334 证券简称：英威腾 公告编号：2026-002 深圳市英威腾电气股份有限公司 关于重大诉讼的进展公告 本公司及董事会全体成员保证公告披露的内容真实、准确和完整，不存在 虚假记载、误导性陈述或者重大遗漏。 1 深圳市英威腾电气股份有限公司公告(2026) 2、上市公司所处的当事人地位：二审上诉人（一审原告） 3、 涉案的金额：二审判决，深圳市瀚瑞德创新投资有限公司（以下简称"瀚 瑞德"）应向深圳市英威腾电气股份有限公司（以下简称"公司"或"英威腾"） 支付行政处罚金 93,000 元及违约金 23 万元、业绩补偿款 64,998,820.93 元及利 息。 4、 对上市公司损益产生的影响：由于本次诉讼尚未执行，截止本公告披露 日，对公司利润无影响。 一、本次诉讼的基本情况 2019 年 5 月 21 日，公司披露了唐山普林亿威科技有限公司（以下简称"普 林亿威"）原股东瀚瑞德注销事宜，详见公司在巨潮资讯网（www.cninfo.com.cn） 披露的《关于唐山普林亿威科技有限公司原股东深圳市 ...

深圳市英威腾电气股份有限公司公告(2026) 证券代码：002334 证券简称：英威腾 公告编号：2026-001 深圳市英威腾电气股份有限公司公告(2026) 深圳市英威腾电气股份有限公司 关于控股子公司增资扩股的进展公告 本公司及董事会全体成员保证公告披露的内容真实、准确和完整，不存在 虚假记载、误导性陈述或者重大遗漏。 一、背景情况说明 深圳市英威腾电气股份有限公司（以下简称"公司"或"英威腾"）控股子 公司深圳市英威腾电动汽车驱动技术有限公司（以下简称"驱动公司"）为推进 新能源汽车业务发展，分别于 2023 年完成两轮增资扩股暨关联交易事项，具体 情况如下： 1、公司于 2023 年 4 月 6 日召开第六届董事会第二十次会议、2023 年 4 月 26 日召开 2023 年第一次临时股东大会，审议通过《关于控股子公司深圳市英威 腾电动汽车驱动技术有限公司增资扩股暨关联交易的议案》。深圳和而泰智能控 制股份有限公司、海南盛永投资合伙企业（有限合伙）等 7 家外部投资者合计向 驱动公司增资人民币 2.15 亿元，相关交易各方已签署《增资协议》《股东协议》， 具体内容详见公司 2023 年 4 月 8 ...

Core Insights - The core viewpoint of the article emphasizes the significant role of medium and high-voltage variable frequency drives (VFDs) in industrial production, driven by China's "dual carbon" strategy and policy support, leading to a stable growth in market demand [1][10]. Industry Overview - Medium and high-voltage VFDs are essential for adjusting motor speed and operational status to meet various process requirements, commonly used in fans, pumps, and compressors [1][6]. - The market size of China's medium and high-voltage VFD industry is projected to grow from 10.8 billion yuan in 2017 to 21.6 billion yuan in 2024, with a compound annual growth rate (CAGR) of 10.41% [1][11]. Industry Chain - The upstream of the medium and high-voltage VFD industry includes raw materials and components such as transformers, IGBTs, capacitors, and cooling systems [8]. - The downstream applications encompass sectors like electricity, petrochemicals, construction materials, coal, and metallurgy [8]. Market Demand and Growth - The demand for medium and high-voltage VFDs is significantly influenced by the need for energy conservation and emission reduction in high-energy-consuming industries, particularly under strict environmental regulations [1][10]. - The industrial power generation in China is expected to grow from 6,275.82 billion kWh in 2017 to 9,418.1 billion kWh in 2024, with a CAGR of 5.97% [9][10]. Competitive Landscape - The medium and high-voltage VFD industry in China features a diversified competitive landscape, with both international brands (like Schneider, ABB, Siemens) and domestic leaders (like Invt, Huichuan Technology, and HeKang New Energy) [11]. - Domestic companies are gaining market share by leveraging localized service responsiveness and competitive product pricing [11]. Key Companies - Invt Electric Co., Ltd. focuses on industrial automation and energy sectors, reporting a revenue of 1.153 billion yuan from VFDs in the first half of 2025, a year-on-year increase of 6.56% [12]. - Huichuan Technology Co., Ltd. provides automation solutions across various industries, with a revenue of 8.807 billion yuan from general automation in the first half of 2025, reflecting a year-on-year growth of 17.11% [13]. Development Trends - Future trends in the medium and high-voltage VFD industry include energy efficiency optimization and enhanced dynamic response capabilities through advanced semiconductor devices and control algorithms [14]. - The integration of VFDs into the industrial internet will enable full lifecycle digital management, enhancing operational efficiency and predictive maintenance [15]. - VFDs are expected to evolve into power conversion nodes with multi-energy interfaces, supporting renewable energy integration and smart grid functionalities [15].

Group 1 - Shenzhen Invt Electric Vehicle Drive Technology Co., Ltd. has obtained a patent for "liquid cooling channel heat dissipation components, electronic modules, and liquid cooling radiators," with the authorization announcement number CN223730133U, and the application date is November 2024 [1] - The patent involves liquid cooling technology, specifically detailing a liquid cooling channel heat dissipation component that includes a channel body with a liquid cooling channel, which effectively dissipates heat from power devices while maintaining structural strength and sealing performance [1] - The design allows for independent formation of the channel body, simplifying manufacturing processes and reducing costs compared to existing solutions that require complex molding [1] Group 2 - Shenzhen Invt Electric Vehicle Drive Technology Co., Ltd. was established in 2014 and is primarily engaged in the manufacturing of electrical machinery and equipment, with a registered capital of 329.128922 million RMB [2] - The company has made investments in 7 enterprises, participated in 12 bidding projects, and holds 198 patents along with 12 administrative licenses [2]