证券代码：002595 证券简称：豪迈科技 公告编号：2025-036 山东豪迈机械科技股份有限公司 山东豪迈机械科技股份有限公司（以下简称"公司"）第六届董事会第十九次会议 通知已于2025年10月13日以电子邮件、微信等方式送达各位董事，会议于2025年10月 24日在公司会议室以现场结合通讯表决方式召开，会议应出席董事9人，实际出席9人， 刘志峰先生、马广林先生、王新宇先生以通讯方式出席。全体高管及监事列席了会议。 会议由公司董事长单既强先生主持，本次会议的召集、召开符合《公司法》及《公司 章程》的有关规定，会议合法有效。 经与会董事认真讨论，一致通过以下决议： 一、会议以9票同意、0票反对、0票弃权的表决结果，审议通过《2025年第三季 度报告》 1 第六届董事会第十九次会议决议的公告 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、误导性陈述或者重大遗漏。 经审核，董事会全体成员认为《2025 年第三季度报告》的编制和审核程序符合法 律、行政法规、中国证监会的规定，报告的内容能够真实、准确、完整地反映公司的 实际情况。 《2025 年第三季度报告》刊登于《中国证券报》《证券 ...

Group 1: Metal Industry Insights - The steel industry is experiencing a demand rebound, but the recovery is not as strong as in previous years, with short-term price fluctuations expected [2] - Copper prices have been under pressure due to previous U.S. tariff policies, but expectations surrounding U.S.-China trade talks and potential Federal Reserve interest rate cuts may alleviate downward pressure [2] - Aluminum prices are expected to fluctuate in the short term, supported by stable fundamentals and easing trade tensions between the U.S. and China [2] - Gold prices may face short-term correction risks due to upcoming U.S.-China negotiations and Federal Reserve meetings, but geopolitical tensions could provide support [2] - Lithium prices are expected to be supported by resilient demand, particularly in energy storage, as disruptions in mining operations in Jiangxi have eased [2] - Rare earth prices may face pressure if export controls are tightened, with attention on the impact of U.S.-China trade negotiations [2] Group 2: Strategic Recommendations - For the steel sector, policies promoting precise capacity control and quality improvement are expected to enhance the competitive landscape and profitability of steel companies [3] - The copper supply outlook is tightening due to incidents at major mines, suggesting a potential price floor; focus on companies with strong resource guarantees and environmental standards [3] - In the aluminum sector, the "anti-involution" policy is anticipated to improve the supply landscape, with a focus on demand recovery during peak seasons [4] - Gold prices are influenced by U.S. government stability and geopolitical issues, with long-term interest rate uncertainty potentially benefiting gold [4] - The rare earth sector is expected to see a revaluation of related companies due to heightened strategic importance and export control policies [5] - Cobalt supply constraints are anticipated due to limited export quotas from the Democratic Republic of Congo, while demand from electric vehicles and energy storage remains strong [5] Group 3: Machinery Equipment Industry Insights - The engineering machinery sector is witnessing a recovery, with significant growth in excavator sales and a favorable policy environment promoting effective demand expansion [6][7] - The import and export trade of engineering machinery in September reached $5.505 billion, marking a year-on-year increase of 29.1% [6] - The machinery equipment industry is currently valued at a P/E ratio of 31.63, with a premium of 133.41% over the CSI 300 index [6] - The sector's outlook is positive, driven by ongoing demand from infrastructure projects and a shift towards commercial competition in humanoid robotics [7]

Core Viewpoint - Haomai Technology experienced a decline of 1.17% in stock price on October 17, with a trading volume of 155 million yuan, indicating a potential shift in investor sentiment and market dynamics [1]. Financing Summary - On October 17, Haomai Technology had a financing buy-in amount of 13.02 million yuan and a financing repayment of 25.90 million yuan, resulting in a net financing outflow of 12.87 million yuan [1]. - The total financing and securities balance for Haomai Technology reached 491 million yuan, with the current financing balance of 487 million yuan accounting for 1.09% of the circulating market value, which is above the 90th percentile level over the past year, indicating a high level of financing activity [1]. - In terms of securities lending, Haomai Technology repaid 400 shares and sold 2,900 shares on October 17, with a selling amount of 162,100 yuan, while the securities lending balance stood at 4.23 million yuan, below the 40th percentile level over the past year, suggesting a lower level of short-selling activity [1]. Financial Performance - For the first half of 2025, Haomai Technology reported a revenue of 5.265 billion yuan, reflecting a year-on-year growth of 27.25%, and a net profit attributable to shareholders of 1.197 billion yuan, which is a 24.65% increase compared to the previous year [2]. Shareholder and Dividend Information - Since its A-share listing, Haomai Technology has distributed a total of 3.976 billion yuan in dividends, with 1.417 billion yuan distributed over the past three years [3]. - As of June 30, 2025, the number of shareholders increased by 2.82% to 16,500, while the average circulating shares per person decreased by 2.71% to 48,181 shares [2][3]. - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited holds 26.3588 million shares, a decrease of 558,900 shares from the previous period, while Dacheng Gaoxin Stock A holds 22.1351 million shares, down by 33,900 shares [3].

Core Insights - The report indicates a significant recovery in the construction machinery sector, with excavator sales reaching 19,858 units in September, representing a year-on-year increase of 25.4% [2][3] - Loader sales also showed strong growth, with 10,530 units sold in September, marking a 30.5% year-on-year increase [2][3] - The average working hours for major construction machinery products in September was 78.1 hours, reflecting increased utilization [2] Industry News - The Ministry of Industry and Information Technology, along with five other departments, issued a "Work Plan for Stabilizing Growth in the Machinery Industry (2025-2026)", emphasizing the need to expand effective demand and enhance equipment updates [3] - The report highlights that downstream demand for construction machinery is expected to grow due to ongoing projects in hydropower and urban renewal, as well as reduced tariff disturbances in major global regions, enhancing the cost-performance advantage of domestic machinery [3] Company Announcements - Zongshen Power announced a profit forecast for the first three quarters of 2025, expecting a year-on-year increase in net profit of 70%-100% [2] - Inovance Technology reported a 40.19% year-on-year increase in revenue for the first three quarters of 2025 [2] Market Review - From October 8 to October 14, 2025, the CSI 300 Index fell by 2.19%, while the Shenwan Machinery Equipment Industry Index declined by 2.97%, underperforming the CSI 300 by 0.78 percentage points [2] - As of October 14, 2025, the price-to-earnings ratio (TTM) for the Shenwan Machinery Equipment Industry was 31.41 times, with a valuation premium of 135.85% relative to the CSI 300 [2] Future Outlook - The report maintains a "positive" rating for the industry, with a recommendation to continue monitoring investment opportunities in the supply chain, particularly in humanoid robotics, as the industry transitions from a technology race to a commercialization phase [3] - The report suggests that the ongoing large-scale equipment update policies will likely sustain the industry's recovery momentum [3]

Core Insights - The stock of Haomai Technology increased by 2.88% on October 15, with a trading volume of 220 million yuan, indicating positive market sentiment towards the company [1] - The company reported a net financing outflow of 6.94 million yuan on the same day, with a total financing and margin balance of 505 million yuan, suggesting a high level of trading activity [1] - For the first half of 2025, Haomai Technology achieved a revenue of 5.265 billion yuan, reflecting a year-on-year growth of 27.25%, and a net profit of 1.197 billion yuan, up 24.65% year-on-year [2] Financing and Margin Data - On October 15, Haomai Technology had a financing buy-in of 10.97 million yuan, with a current financing balance of 500 million yuan, representing 1.10% of its market capitalization [1] - The company’s financing balance is above the 90th percentile of the past year, indicating a high level of investor interest [1] - The margin trading data shows that on October 15, there were no shares repaid, with 1,300 shares sold short, amounting to 74,000 yuan, and a margin balance of 4.1302 million yuan, which is below the 30th percentile of the past year [1] Shareholder and Dividend Information - As of June 30, the number of shareholders of Haomai Technology increased by 2.82% to 16,500, while the average number of circulating shares per shareholder decreased by 2.71% to 48,181 shares [2] - The company has distributed a total of 3.976 billion yuan in dividends since its A-share listing, with 1.417 billion yuan distributed in the last three years [3] - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited holds 26.3588 million shares, a decrease of 558,900 shares compared to the previous period [3]

Core Viewpoint - The article emphasizes the importance of "five-dimensional positive growth" for companies, which includes continuous growth in total assets, operating income, net profit attributable to shareholders, R&D investment, and employee compensation from 2022 to 2024, as a measure of a company's internal motivation and sustainable development capability [2][3]. Summary by Sections Five-Dimensional Positive Growth - Companies with long-term competitiveness maintain steady growth not only in asset scale and revenue but also in innovation investment and human capital [3]. - A total of 156 companies in the A-share market meet the criteria of achieving three consecutive years of growth in the five key indicators, indicating a focus on solid asset foundations and strategic investments in R&D and employee compensation [3][4]. Industry Distribution - The 156 companies are concentrated in sectors such as machinery, electronics, power equipment, pharmaceuticals, and automobiles, highlighting the transformation and upgrading of China's manufacturing industry through technological accumulation and talent investment [4][6]. - The automotive sector leads with 30 companies, followed by power equipment (22), machinery (20), electronics (14), and pharmaceuticals (13), collectively accounting for over 63% of the group [6]. Key Industry Analysis - **Automotive**: The sector shows strong market vitality, particularly in new energy vehicles, with companies like BYD demonstrating significant growth through vertical supply chain integration and R&D investment [9]. - **Power Equipment**: Companies like Sungrow Power Supply benefit from global green energy demand, with continuous R&D ensuring technological leadership [12]. - **Machinery**: Companies such as Times Electric leverage their technological advantages to achieve growth in both domestic and international markets [13]. - **Electronics**: Firms like North Huachuang are capitalizing on domestic semiconductor expansion, with R&D driving rapid growth [15]. - **Pharmaceuticals**: Companies like Mindray Medical are expanding through continuous innovation in medical technology, supported by robust R&D investment [16]. Internal Logic of Growth - Achieving simultaneous growth in the five dimensions is challenging, with only 156 out of 5,383 A-share companies meeting the criteria by the end of 2024 [18]. - The interplay between R&D investment and human capital is crucial for maintaining competitive advantage in a rapidly evolving market [19][20]. Long-Termism and Employee Compensation - Employee compensation and R&D investment are identified as dual anchors of long-termism, with average employee compensation increasing by approximately 35% and R&D investment by about 42% from 2021 to 2024 among the 156 companies [25]. - This focus on human and innovation capital, despite potential short-term impacts on profit margins, enhances organizational stability and competitive barriers [25]. Conclusion - The article concludes that the concept of being a "respected" company should not solely rely on scale or profit but should also encompass the creation of economic value while promoting technological advancement, employee growth, and social welfare [26].

Core Insights - The evaluation criteria for companies in China are shifting from a focus on single profit metrics to a multidimensional assessment of capabilities, emphasizing long-term competitiveness through sustained growth in assets, revenue, net profit, R&D investment, and employee compensation [1][19] - A total of 156 companies in the A-share market have met the criteria of achieving positive growth across these five dimensions for three consecutive years, indicating a robust foundation for sustainable development [1][13] Industry Distribution - The 156 companies are primarily distributed across sectors such as machinery, electronics, power equipment, pharmaceuticals, and automotive, highlighting the transformation and upgrading of China's manufacturing industry through technological accumulation and talent investment [2][5] - The automotive sector leads with 30 companies, followed by power equipment (22), machinery (20), electronics (14), and pharmaceuticals (13), collectively accounting for over 63% of the total [3][5] Key Industries and Representative Companies - **Automotive (30 companies)**: This sector includes traditional vehicles, new energy vehicles, and smart solutions, showcasing China's leadership in the global automotive industry transformation [6] - BYD (002594.SZ) has demonstrated strong growth through vertical integration and significant R&D investment, establishing a robust competitive barrier [6] - Fuyao Glass (600660.SH) has capitalized on the trend of automotive intelligence and consumer upgrades, enhancing product value and driving revenue growth [7] - **Power Equipment (22 companies)**: This sector benefits from the dual carbon strategy, with growth driven by advancements in renewable energy technologies and smart grid construction [8] - Sungrow Power Supply (300274.SZ) has seen rapid growth due to its leadership in photovoltaic inverters and energy storage systems [8] - Guoxuan High-tech (002074.SZ) focuses on battery technology, leveraging continuous investment in R&D to build a competitive edge [8] - **Machinery (20 companies)**: This sector reflects the transformation of Chinese manufacturing, with companies benefiting from domestic industrial upgrades [9] - Times Electric (688187.SH) has sustained growth through its core competencies in rail transit equipment and expansion into new industries [9] - Tiandi Technology (600582.SH) leads in intelligent coal mining equipment, achieving steady growth through technological advancements [10] - **Electronics (14 companies)**: This sector has shown significant growth, driven by demand in semiconductors, high-end components, and consumer electronics [11] - Northern Huachuang (002371.SZ) has benefited from the expansion of domestic wafer fabrication, leading to rapid revenue growth [11] - Haiguang Information (688041.SH) has established a strong presence in the domestic CPU market, capitalizing on the demand for localized computing power [11] - **Pharmaceuticals (13 companies)**: This sector is driven by aging populations and increased health awareness, with companies focusing on R&D in innovative drugs and high-end medical devices [12] - Mindray Medical (300760.SZ) has built core competencies through continuous innovation in medical technology [12] - East China Pharmaceutical (000963.SZ) is expanding its growth through innovative drug development and aesthetic medicine [12] Five-Dimensional Growth Logic - Achieving positive growth across the five dimensions is a complex task, with only 156 out of 5,383 A-share companies meeting this standard, indicating a strong correlation between R&D investment and sustainable growth [13][18] - The combination of total assets, revenue, net profit, R&D investment, and employee compensation reflects a company's health and sustainability, with each dimension interlinked [14][15][16]

豪迈科技（002595）(002595.SZ)披露2025年员工持股计划(草案)，公司员工持股计划的股票来源为公司 回购专用账户回购的本公司人民币普通股(A股)股票。回购专用证券账户的股份将通过非交易过户等法 律法规允许的方式转让给本员工持股计划，本员工持股计划不超过144.12万股。员工持股计划购买公司 回购股票的价格为30元/股。员工持股计划的参加对象为公司(含子公司)各个岗位的骨干员工，总人数预 计不超过2100人，无公司董事、监事、高级管理人员。 本员工持股计划的存续期为36个月，自公司公告最后一笔标的股票过户至本员工持股计划名下时起算。 ...

Core Viewpoint - Haomai Technology (002595.SZ) has disclosed a draft for its 2025 employee stock ownership plan, which will utilize shares repurchased from the market [1] Summary by Sections Employee Stock Ownership Plan - The stock source for the employee stock ownership plan will be shares repurchased by the company through a dedicated repurchase account [1] - The plan will involve a maximum of 1.4412 million shares [1] - The purchase price for the repurchased shares under the employee stock ownership plan is set at 30 yuan per share [1] - The participants in the plan will include key employees from various positions within the company and its subsidiaries, with an estimated total of no more than 2,100 individuals, excluding company directors, supervisors, and senior management [1] - The duration of the employee stock ownership plan is 36 months, starting from the date of the last transfer of the target shares to the plan [1]

山东豪迈机械科技股份有限公司董事和高级管理人员持有及买卖本公司股票的管理制度 山东豪迈机械科技股份有限公司 第一条 为强化山东豪迈机械科技股份有限公司（以下简称"公司"或"本 公司"）董事、高级管理人员所持本公司股份及其变动的管理，根据《中华人民 共和国公司法》（以下简称"《公司法》"）《中华人民共和国证券法》（以下简称"《证 券法》"）《上市公司董事和高级管理人员所持本公司股份及其变动管理规则》《深 圳证券交易所上市公司自律监管指引第 10 号—股份变动管理》等相关法律、法 规及规范性文件的规定，结合公司实际情况，制定本制度。 第二条 本制度适用于本公司董事、高级管理人员及本制度第二十条规定 的自然人、法人或者其他组织持有及买卖本公司股票的管理。 第三条 公司董事和高级管理人员所持本公司股份，是指登记在其名下和 利用他人账户持有的所有本公司股份。 公司董事和高级管理人员从事融资融券交易的，其所持本公司股份还包括记 载在其信用账户内的本公司股份。公司董事、高级管理人员不得开展以本公司股 票为标的证券的融资融券交易。 第四条 公司董事、高级管理人员在买卖本公司股票及其衍生品种前，应 知悉《公司法》《证券法》等法 ...