杭州市西湖区学院路 77 号 黄龙万科中心 A 座 16 楼 邮编：310012 电话：（86-571）2689-8188 传真：（86-571）2689-8189 junhehz@junhe.com 北京君合（杭州）律师事务所 关于深圳和而泰智能控制股份有限公司 2025 年第三次临时股东大会之法律意见书 致: 深圳和而泰智能控制股份有限公司 北京君合（杭州）律师事务所（以下简称"本所"）接受深圳和而泰智能控 制股份有限公司（以下简称"公司"）委托，根据《中华人民共和国证券法》（以 下简称《证券法》）、《中华人民共和国公司法》（以下简称《公司法》）、中国证 券监督管理委员会《上市公司股东会规则》（以下简称《股东会规则》）、《律师 事务所从事证券法律业务管理办法》等中华人民共和国（以下简称"中国"）现 行有效的法律、行政法规、规章和规范性文件（为本法律意见书之目的，不包 括香港特别行政区、澳门特别行政区和台湾地区现行有效的法律、行政法规、 规章和规范性文件）和现行有效的《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》）有关规定，指派律师列席了公司于 2025 年 11 月 12 日召开的 202 ...

证券代码：002402 证券简称：和而泰 公告编号：2025-083 深圳和而泰智能控制股份有限公司 关于召开 2025 年第四次临时股东会的通知 一、召开会议的基本情况 1、股东会届次：2025 年第四次临时股东会 2、股东会的召集人：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 28 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 28 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 28 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：2025 年 11 月 24 日 7、出席对象： 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 ...

证券代码：002402 证券简称：和而泰 公告编号：2025-080 深圳和而泰智能控制股份有限公司 第七届董事会第一次会议决议公告 | 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，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"）于 2025 年 11 月 12 日召开公司 2025 年第三次临时股东大会，顺利换届选举产生了公司第七届董事 会成员。为保证公司新一届董事会工作正常进行，公司全体董事一致同意豁免本 次董事会的通知期限，会议通知于 2025 年 11 月 12 日以专人和通讯方式现场发 出。并于 2025 年 11 月 12 日在广东省深圳市南山区科技南十路航天科技创新研 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（其中梁国智先生以通讯方式出席会议），公司 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》（以下简称"《公司法》"）和《深圳和而泰智能控 制股份有限公司章程》（以下简称"《公司章 ...

Core Viewpoint - The stock of Heertai experienced a decline of 2.01% on November 12, with a trading price of 45.25 yuan per share, amidst significant trading volume and net outflow of funds [1]. Group 1: Stock Performance - Heertai's stock price has increased by 151.25% year-to-date, but it has seen a decline of 4.54% in the last five trading days and 10.57% in the last twenty days [1]. - The company has appeared on the trading leaderboard nine times this year, with the most recent appearance on October 31, where it recorded a net buy of 43.05 million yuan [1]. Group 2: Company Overview - Heertai, established on January 12, 2000, and listed on May 11, 2010, is based in Shenzhen, Guangdong Province, and specializes in the research, production, and sales of smart controllers and related technologies [2]. - The main revenue sources for Heertai include smart controllers for household appliances (65.41%), smart products (11.34%), power tools (9.82%), automotive electronics (7.63%), and microwave/mm-wave chips (3.69%) [2]. Group 3: Financial Performance - For the period from January to September 2025, Heertai achieved a revenue of 8.27 billion yuan, reflecting a year-on-year growth of 17.47%, while the net profit attributable to shareholders was 603 million yuan, marking a 69.66% increase [2]. - The company has distributed a total of 770 million yuan in dividends since its A-share listing, with 325 million yuan distributed over the past three years [3]. Group 4: Shareholder Structure - As of September 30, 2025, Heertai had 246,300 shareholders, an increase of 72.35% from the previous period, with an average of 3,272 circulating shares per person, down by 41.98% [2]. - The largest circulating shareholder is Hong Kong Central Clearing Limited, holding 52.29 million shares, which increased by 39.08 million shares compared to the previous period [3].

Investment Rating - The report maintains a "Buy" rating for the company, with a target price not specified [7]. Core Insights - The company reported a significant increase in profit, with a 70% year-on-year growth in net profit for the first three quarters of 2025, reaching 603 million yuan [1]. - The controller business segment continues to show strong growth momentum, contributing to a revenue of 27.19 billion yuan in Q3 2025, up 11.29% year-on-year [1]. - The gross margin improved to 20.02% for the first three quarters, an increase of 1.91 percentage points compared to the same period last year [2]. - The company is focusing on integrating AI with smart sensing technologies, launching products like the "Perception Plan" body-sensing clothing, and expanding into various applications [3]. Financial Performance Summary - For the first three quarters of 2025, the company achieved operating revenue of 8.27 billion yuan, a year-on-year increase of 17.47% [1]. - The net profit for Q3 2025 was 249 million yuan, reflecting a 58.35% increase year-on-year, with the controller segment contributing 234 million yuan [1]. - The company expects to maintain a steady increase in profitability through supply chain cost management and new business developments in robotics and other areas [2]. Investment Strategy and Future Outlook - The company has diversified its investments across multiple sectors, including chips and robotics, and holds approximately 1.03% of Moer Technology [4]. - Future growth is anticipated from the expansion into smart home, health, and industrial automation sectors, leveraging AI and hardware integration [3]. - The profit forecast for 2025-2027 has been adjusted to 712 million, 941 million, and 1.2 billion yuan respectively, with corresponding P/E ratios of 63, 48, and 37 [5].

Core Viewpoint - The company, Heertai, emphasizes its focus on smart controllers and the integration of artificial intelligence and communication technologies in its business model, particularly through its investment in Moer Thread, aimed at enhancing value-added services for downstream clients [1][3]. Group 1: Business Operations - Heertai's main business involves the research, production, and sales of smart controllers [1]. - The smart business segment combines technologies such as artificial intelligence and communication [1]. Group 2: Investment Strategy - The investment in Moer Thread is based on the potential for industrial synergy and the clear market development prospects for GPUs in the context of artificial intelligence [3]. - The collaboration between Heertai and Moer Thread is expected to facilitate cooperation across the industry supply chain, promoting overall industry growth [3].

Core Viewpoint - Recently, Xiangyang Heertai Intelligent Technology Co., Ltd. was established with a registered capital of 10 million yuan, focusing on integrated circuit chip sales and design, smart sports equipment manufacturing, and robotics research and development [1] Company Summary - Xiangyang Heertai Intelligent Technology Co., Ltd. has a registered capital of 10 million yuan [1] - The company is wholly owned by Heertai [1] - The business scope includes integrated circuit chip sales, design services, smart sports equipment manufacturing, and robotics R&D [1]

Group 1 - The core viewpoint is that Heertai has not supplied any components to the Kua Fu robot, despite investor inquiries [2] - Heertai, in collaboration with Leju and Dongfang Jinggong, has established a joint venture focused on the core control systems and component control for robots [2] - The joint venture has completed its registration, and product development is currently progressing smoothly [2]

Core Viewpoint - The company has not established a production base in Malaysia, despite inquiries regarding its construction progress and production capacity [1]. Group 1 - The company currently has production bases in Shenzhen, Hangzhou, Qingdao, Hefei, Vietnam, Romania, Italy, and Mexico [1]. - There are no plans for a production base in Malaysia as of now [1]. Group 2 - The company has received inquiries about the construction timeline, production capacity, product direction, collaboration with other bases, supply agreements, localization strategies, and expected profitability [1].

Core Viewpoint - Heertai (002402.SZ) reported significant growth in its subsidiary Chengchang Technology, which specializes in T/R chips for phased array radar and satellite communication, indicating a strong recovery in downstream user demand and an increase in orders and projects [1] Company Summary - Chengchang Technology's T/R chips are now being mass-produced and applied in various fields including spaceborne, ground, and airborne phased array radar and satellite communication [1] - The company achieved a revenue of 306 million yuan and a net profit of 90.36 million yuan in the first three quarters of 2025 [1] - Chengchang Technology maintains a leading position in the domestic market for phased array T/R chip research and production, collaborating closely with downstream users [1] Industry Summary - The T/R chip is a critical component of phased array systems, characterized by high integration, complex structure, and stringent performance parameters [1] - In China, the main entities capable of R&D and mass production of phased array T/R chips are research institutes and a few private enterprises with tier-three and tier-four supporting capabilities [1] - The company has developed several new products targeting the next generation of low-orbit communication satellites and ground support equipment [1]