深圳和而泰智能控制股份有限公司 关于董事会换届选举的公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假 记载、误导性陈述或者重大遗漏。 深圳和而泰智能控制股份有限公司（以下简称"公司"）第六届董事会任期即 将届满，根据《中华人民共和国公司法》《上市公司独立董事管理办法》《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1号——主板 上市公司规范运作》及《深圳和而泰智能控制股份有限公司章程》（以下简称"《公 司章程》"）等有关规定，公司于2025年10月21日召开了第六届董事会第二十八次 会议，审议通过了《关于选举公司第七届董事会非独立董事的议案》和《关于选 举公司第七届董事会独立董事的议案》，现将有关事项公告如下： 一、董事会换届选举情况 根据第六届董事会第二十八次会议审议通过的《公司章程》的规定，公司第 七届董事会由9名董事组成，其中，非独立董事5名，职工代表董事1名，独立董 事3名。公司第七届董事会董事任期三年，自公司股东大会审议通过之日起计算。 证券代码：002402 证券简称：和而泰 公告编号：2025-072 经公司董事会提名委员会对第七届董事会董事候选人进 ...

证券代码：002402 证券简称：和而泰 公告编号：2025-075 深圳和而泰智能控制股份有限公司 关于召开 2025 年第三次临时股东大会的通知 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 一、召开会议的基本情况 1、股东大会届次：2025 年第三次临时股东大会 2、股东大会的召集人：董事会 3、本次会议的召集、召开符合《中华人民共和国公司法》《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 1 号——主板上市公司 规范运作》等法律、行政法规、部门规章、规范性文件及《公司章程》的有关规 定。 4、会议时间： （1）现场会议时间：2025 年 11 月 12 日 14:30 （2）网络投票时间：通过深圳证券交易所系统进行网络投票的具体时间为 2025 年 11 月 12 日 9:15-9:25，9:30-11:30，13:00-15:00；通过深圳证券交易所互联 网投票系统投票的具体时间为 2025 年 11 月 12 日 9:15 至 15:00 的任意时间。 5、会议的召开方式：现场表决与网络投票相结合。 6、会议的股权登记日： ...

证券代码：002402 证券简称：和而泰 公告编号：2025-068 经审核，监事会认为：公司 2022 年限制性股票激励计划中有 3 名激励对象因个人 原因离职，1 名激励对象因故身亡，根据《上市公司股权激励管理办法》等法律、法规 及公司《2022 年限制性股票激励计划（草案）》的相关规定，同意公司对其已获授予但 尚未解除限售的限制性股票共计 5.60 万股予以回购注销。本次回购注销事项符合《上 市公司股权激励管理办法》等相关法律、法规及公司 2022 年限制性股票激励计划的有 关规定，注销程序符合相关法律法规的要求，合法有效，亦不存在损害公司及全体股东 利益的情形。 深圳和而泰智能控制股份有限公司 第六届监事会第二十六次会议决议公告 本公司及监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、误导性陈述或者重大遗漏。 深圳和而泰智能控制股份有限公司（以下简称"公司"）第六届监事会第二十六次会 议通知于2025年10月16日以专人和电子邮件的方式送达给各位监事和高级管理人员。会 议于2025年10月21日在广东省深圳市南山区科技南十路深圳航天科技创新研究院大厦 D座10楼和而泰会议室以现场结合 ...

深圳和而泰智能控制股份有限公司 第六届董事会第二十八次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，不存在虚假 记载、误导性陈述或者重大遗漏。 证券代码：002402 证券简称：和而泰 公告编号：2025-067 深圳和而泰智能控制股份有限公司（以下简称"公司"）第六届董事会第二十八 次会议通知于2025年10月16日以专人和电子邮件的方式送达给各位董事、监事及高 级管理人员。会议于2025年10月21日在广东省深圳市南山区科技南十路深圳航天科 技创新研究院大厦D座10楼和而泰一号会议室以现场结合通讯表决方式召开。会议 应出席董事9名，实际出席董事9名（其中：秦宏武先生因公未能出席会议，委托董 事长刘建伟先生代为出席并表决，孙中亮先生以通讯表决方式出席会议），无缺席会 议的董事，公司监事和高级管理人员列席了会议。本次会议的出席人数、召集、召 开程序和议事内容均符合《中华人民共和国公司法》和《公司章程》的规定。会议 由董事长刘建伟先生主持，经与会人员认真审议，形成如下决议： 1、会议以9票赞成、0票反对、0票弃权，审议通过了《2025年第三季度报告》； 《深圳和而泰智能控制股份有限公司 ...

和而泰公告，第三季度营收为28.24亿元，同比增长14.25%；净利润为2.49亿元，同比增长58.35%。前 三季度营收为82.7亿元，同比增长17.47%；净利润为6.03亿元，同比增长69.66%。 ...

Financial Performance - In Q3 2025, the company achieved operating revenue of CNY 2.82 billion, a year-on-year increase of 14.25%[5] - The net profit attributable to shareholders in Q3 2025 was CNY 249.22 million, representing a year-on-year growth of 58.35%[11] - The company’s cumulative operating revenue for the first nine months of 2025 reached CNY 8.27 billion, up 17.47% compared to the same period last year[5] - The net profit attributable to shareholders for the first nine months of 2025 was CNY 602.90 million, an increase of 69.66% year-on-year[11] - The gross profit margin in Q3 2025 improved by 2.45% year-on-year and 2.99% quarter-on-quarter, indicating a positive trend[9] - Total operating revenue for the current period reached ¥8,269,626,721.45, an increase of 17.5% compared to ¥7,040,064,327.96 in the previous period[28] - Net profit for the current period was ¥642,329,753.59, representing a 97.5% increase from ¥325,309,428.57 in the previous period[29] - Earnings per share (EPS) for the current period was ¥0.6517, compared to ¥0.3814 in the previous period, reflecting a significant growth[30] - The total comprehensive income for the current period was ¥594,584,786.81, compared to ¥313,367,251.61 in the previous period, showing a growth of 89.9%[30] Cash Flow and Financial Management - The net cash flow from operating activities for the first nine months of 2025 increased by 34.19% year-on-year, reaching CNY 441.22 million[12] - Net cash flow from operating activities increased by 34.19% to 441,224,621.04, attributed to higher order volumes and improved cash management[17] - Operating cash inflow for the current period reached ¥7,650,962,750.67, an increase of 18.5% compared to ¥6,454,667,223.81 in the previous period[31] - Cash outflow from investment activities totaled ¥1,228,202,116.16, compared to ¥1,069,293,335.85 in the previous period, resulting in a net cash flow from investment activities of -¥521,851,824.46[32] - Cash inflow from financing activities was ¥1,577,989,549.66, down 18.6% from ¥1,938,902,700.37 in the previous period[32] - Net cash flow from financing activities was ¥151,854,454.47, a decrease of 56.7% compared to ¥350,586,011.89 in the previous period[32] - The ending balance of cash and cash equivalents increased to ¥1,108,089,421.00 from ¥895,952,102.20, reflecting a positive change in liquidity[32] - The company received cash from the recovery of investments amounting to ¥698,353,119.66, significantly higher than ¥136,980,301.95 in the previous period[32] Investments and Strategic Focus - The company is focusing on strategic upgrades through investments and acquisitions, particularly in high-growth areas like robotics[8] - The company has implemented cost reduction measures across production processes, enhancing operational efficiency and profit margins[8] - Trading financial assets increased by 93,290.19% to 269,057,151.51 from 288,100 due to increased investments in financial products[13] - Construction in progress rose by 52.65% to 404,659,228.81, driven by investments in multiple new projects[13] - Research and development expenses increased by 36.81% to 155,099,970.36, reflecting the company's commitment to innovation[13] - Research and development expenses for the current period were ¥473,430,805.70, an increase of 17.1% compared to ¥404,277,386.91 in the previous period[28] Balance Sheet and Assets - The company's total assets increased to CNY 12,768,868,008.18 as of September 30, 2025, up from CNY 11,970,554,542.52 at the beginning of the period, representing a growth of approximately 6.67%[24] - Current assets rose to CNY 8,046,152,164.77, compared to CNY 7,364,292,321.30 at the start of the period, indicating an increase of about 9.26%[24] - Cash and cash equivalents reached CNY 1,301,438,171.85, up from CNY 1,244,498,917.37, reflecting a growth of approximately 4.57%[24] - Accounts receivable increased to CNY 3,331,580,433.82 from CNY 2,871,306,826.75, marking a rise of about 16.03%[24] - Inventory decreased to CNY 2,189,550,722.59 from CNY 2,376,507,903.16, showing a decline of approximately 7.85%[25] - The company's non-current assets totaled CNY 4,722,715,843.41, up from CNY 4,606,262,221.22, which is an increase of about 2.53%[24] - The company's total liabilities decreased by 75.40% for short-term borrowings, optimizing the financing structure[13] - The total liabilities increased to ¥6,769,726,315.25 from ¥6,578,127,744.18, indicating a rise of 2.9%[27] - The company's long-term borrowings increased to ¥929,422,181.93 from ¥545,416,506.87, reflecting a rise of 70.4%[27] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 246,264, with the largest shareholder holding 15.00%[19] - The company repurchased and canceled 274,000 restricted shares at a price of CNY 7.5593 per share, which accounted for 0.0269% of the total share capital prior to the repurchase[21] - The company also repurchased and canceled 112,000 restricted shares at the same price due to the departure of four incentive targets, leading to a reduction in registered capital from CNY 924,806,285 to CNY 924,694,285[22] - The total number of shares decreased from 924,806,285 to 924,694,285 following the cancellation of the restricted shares[22]

Core Viewpoint - The article discusses the rising interest in the IPOs of Moore Threads and Yushu Technology, highlighting the significant market movements and investment opportunities associated with these companies [3][4]. Group 1: Investment Opportunities - Moore Threads aims to break NVIDIA's monopoly with its domestic GPU, benefiting from the trend of domestic substitution [4]. - Yushu Technology has faced a challenging financing journey, with varying perceptions from venture capitalists over the years [4]. - Companies like Jinfa Technology are strategically positioned to benefit from both Moore Threads and Yushu Technology through direct collaborations and material supply agreements [6][7]. Group 2: Company Collaborations - Jinfa Technology has established a specialized team for humanoid robot material development and has signed strategic agreements with both Moore Threads and Yushu Technology [6]. - Other companies, such as Shuanghuan Transmission and Zhongdali De, have formed partnerships with Yushu Technology, providing essential components for their robotics projects [8]. - Companies like Jingxing Paper and Dazhong Public Utilities are more focused on financial investments, using indirect holdings to hedge against market fluctuations [9]. Group 3: Market Dynamics - The article notes that the excitement around IPOs leads to significant gains for related concept stocks, with direct shareholders benefiting the most [6]. - The investment landscape is characterized by a mix of strategic and financial investments, with some companies taking a more passive role in the emerging tech sectors [9][12]. - Major players like China Mobile and Tencent have entered the market later, focusing on financial investments rather than deep strategic partnerships [13][15].

Core Insights - The article highlights the transformative investment decision made by Heertai in 2020, where the company invested 30 million in the AI chip startup Moore Threads, resulting in a tenfold increase in value to 306 million by 2025 [1][5][12] Company Overview - Heertai is primarily known for producing smart controllers for home appliances and automobiles, which typically have a low profit margin of around 15% [3][11] - The company made a strategic investment in Moore Threads, which was in its angel round at the time, indicating a high-risk but potentially high-reward scenario [3][5] Investment Strategy - The investment in Moore Threads was both a financial and strategic move, as the relationship between GPU technology and smart controllers is crucial for future smart devices [5][12] - Heertai's acquisition of Chengchang Technology for 624 million, gaining a 46.37% stake, marked a significant shift towards higher-margin businesses, particularly in RF chips for phased array radar [6][8] Financial Performance - Chengchang Technology's chip business contributed 201 million in revenue for Heertai in the first half of 2025, accounting for only 3.69% of total revenue but generating over 13% of the profit [9][12] - The overall gross margin for Heertai improved to 19.13% in the first half of 2025, with net profit reaching 354 million, a year-on-year increase of 78.65% [9][12] Market Trends - The market for high-margin technologies, such as those offered by Chengchang Technology, is expanding rapidly, particularly in commercial aerospace and low-orbit satellite industries [9][12] - Heertai is also venturing into automotive electronics and robotics, anticipating significant growth in these sectors by 2030 [13][12] Strategic Vision - Heertai's approach is characterized by a proactive strategy to diversify and invest in high-value sectors, rather than remaining confined to traditional manufacturing [11][12] - The company has increased its R&D spending by 17.05% to 309 million in the first half of 2025, focusing on advanced technologies like AI and robotics [13][12]

Core Viewpoint - Dongfang Precision (002611) has established a joint venture named Shenzhen Heju Zhikong Technology Co., Ltd. with Leju Robotics and Heerat (002402), focusing on humanoid robot intelligent control systems [1] Group 1: Joint Venture Details - The joint venture has completed its business registration [1] - Shenzhen Heju Zhikong Technology Co., Ltd. will concentrate on key scenarios such as industrial operations and human-machine collaboration [1] Group 2: Technological Focus - The company aims to create a comprehensive application solution for humanoid robot intelligent control systems [1] - It is committed to providing end-to-end solutions covering hardware architecture, embedded firmware, and upper-level control interfaces [1] - Key technologies include a high-reliability computing platform, low-cost real-time bus interfaces, and high-power drive modules [1] Group 3: Strategic Goals - The technological breakthroughs are intended to ensure stable operation of humanoid robots in complex working conditions [1] - The initiative aims to promote the large-scale application of embodied intelligence technology [1]

Market Overview - The consumer electronics sector experienced a decline of 4.82% on October 14, with Tonglian Precision leading the drop [1] - The Shanghai Composite Index closed at 3865.23, down 0.62%, while the Shenzhen Component Index closed at 12895.11, down 2.54% [1] Stock Performance - Notable gainers included: - Hongxi Technology (Code: 920857) with a closing price of 26.76, up 2.33% [1] - Lingyi Technology (Code: 002600) with a closing price of 15.51, up 1.37% [1] - Significant losers included: - Tonglian Precision (Code: 688210) with a closing price of 48.83, down 10.89% [2] - Deli Technology (Code: 300679) with a closing price of 51.40, down 9.17% [2] Capital Flow - The consumer electronics sector saw a net outflow of 7.044 billion yuan from institutional investors, while retail investors contributed a net inflow of 5.265 billion yuan [2][3] - The table of capital flow indicates varying levels of net inflow and outflow among different stocks, with Heertai (Code: 002402) showing a net inflow of 200 million yuan from institutional investors [3]