Investment Rating - The investment rating for the company is "Buy" with a target price expected to yield over 20% relative return within six months [5][17]. Core Insights - The company reported a revenue of 870 million yuan in Q2 2025, a year-on-year increase of 6%, and a net profit attributable to shareholders of 50 million yuan, down 49% year-on-year. For H1 2025, the revenue was 1.57 billion yuan, up 13% year-on-year, while the net profit was 90 million yuan, down 29% year-on-year [1]. - The growth in revenue is primarily driven by overseas business, with overseas revenue accounting for 87% of total revenue, growing at 14% year-on-year, compared to a 5% increase in domestic revenue [1]. - The overall gross margin slightly decreased to 28.7%, down 1 percentage point year-on-year, with domestic and overseas gross margins at 30.2% and 28.5%, respectively [1]. - The company is focusing on expanding its OEM business and enhancing its own brand presence, establishing strategic partnerships with global brands and improving customer engagement [2]. - The company has adjusted its revenue and profit forecasts for 2025-2027, expecting revenues of 3.8 billion, 4.4 billion, and 5.1 billion yuan, and net profits of 270 million, 330 million, and 410 million yuan, respectively [3]. Financial Summary - For 2023, the company is projected to have a revenue of 2.41 billion yuan, with a growth rate of -0.86%. The net profit attributable to shareholders is expected to be 249.78 million yuan, reflecting a growth rate of 21.31% [4]. - The company's earnings per share (EPS) is projected to be 0.54 yuan for 2023, with a price-to-earnings (P/E) ratio of 15.23 [4]. - The total assets are estimated to be 2.79 billion yuan in 2023, with a debt-to-asset ratio of 53.25% [6][12].

鉴于公司于 2025 年 8 月 26 日披露了 2025 年半年度报告，根据《监管规则 适用指引——发行类第 7 号》等相关要求，公司会同中介机构对《募集说明书（注 册稿）》等申请文件中涉及的财务数据及其他变动事项进行了同步更新，并披露 《浙江哈尔斯真空器皿股份有限公司 2023 年度向特定对象发行 A 股股票募集说 明书（注册稿）》（2025 年半年报更新稿），具体内容详见公司同日在巨潮资讯网 （www.cninfo.com.cn）上披露的相关文件。 公司将根据该事项进展情况及时履行信息披露义务，敬请广大投资者谨慎决 策，注意投资风险。 特此公告。 浙江哈尔斯真空器皿股份有限公司董事会 2025年9月11日 浙江哈尔斯真空器皿股份有限公司 关于向特定对象发行股票募集说明书（注册稿）等申请文件 更新的提示性公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整， 没有虚假记载、误导性陈述或重大遗漏。 浙江哈尔斯真空器皿股份有限公司（以下简称"公司"）于 2025 年 9 月 3 日收到中国证券监督管理委员会（以下简称"中国证监会"）出具的《关于同意 浙江哈尔斯真空器皿股份有限公司向特定对象发行股票注 ...

中银国际证券股份有限公司 关于 浙江哈尔斯真空器皿股份有限公司 2023 年度向特定对象发行 A 股股票 之 发行保荐书 保荐人（主承销商） （上海市浦东新区银城中路 200 号中银大厦 39 楼） 二〇二五年九月 保荐人及保荐代表人声明 中银国际证券股份有限公司及本项目保荐代表人袁婧、李瑞君根据《中华人 民共和国公司法》《中华人民共和国证券法》等有关法律、法规和中国证监会的 有关规定以及深圳证券交易所的有关业务规则，诚实守信，勤勉尽责，严格按照 依法制订的业务规则、行业执业规范和道德准则出具本发行保荐书，并保证发行 保荐书的真实性、准确性和完整性。 3-1-1 | 保荐人及保荐代表人声明 | 1 | | --- | --- | | 目 | 录 2 | | 释 | 义 3 | | 第一节 | 本次证券发行基本情况 4 | | 一、本次证券发行具体负责推荐的保荐代表人 | 4 | | 二、本次证券发行项目协办人及项目组其他成员 | 4 | | 三、发行人基本情况 | 5 | | 四、保荐人与发行人关联关系的说明 | 9 | | 五、保荐人内部审核程序和内核意见 | 10 | | 第二节 | 保荐人承诺事项 15 ...

证券简称：哈尔斯 证券代码：002615 浙江哈尔斯真空器皿股份有限公司 ZheJiang Haers Vacuum Containers Co.,Ltd. （浙江省永康经济开发区哈尔斯路 1 号） 2023 年度向特定对象发行 A 股股票 募集说明书 （注册稿） 保荐机构（主承销商） （上海市浦东新区银城中路 200 号中银大厦 39 楼） 一、本次向特定对象发行股票的相关事项已经公司第六届董事会第五次会议、 第六届董事会第十四次会议、2024 年第二次临时股东大会、2025 年第三次临时 股东大会审议通过以及深交所发行上市审核机构审核通过，并已收到中国证监会 出具的《关于同意浙江哈尔斯真空器皿股份有限公司向特定对象发行股票注册 的批复》（证监许可〔2025〕1926 号），同意公司本次向特定对象发行股票的注 册申请。 二、本次向特定对象发行股票的对象为不超过 35 名的特定投资者，包括符 合中国证监会规定的证券投资基金管理公司、证券公司、信托公司、财务公司、 保险机构投资者、合格境外机构投资者以及其他符合相关法律、法规规定条件的 法人、自然人或其他机构投资者。根据《深圳证券交易所上市公司证券发行与承 销业 ...

Core Insights - The 40th anniversary celebration of Hars was held in Yongkang, Zhejiang, where the company launched new projects and signed strategic cooperation agreements with various institutions, marking a new chapter in its development [1] - Hars is the first listed company in China's cup and kettle industry, known for its commitment to high-quality manufacturing and has established a five-value standard for its products [1] - The company aims to enhance its digital intelligent manufacturing capabilities and achieve its "three hundred" goals: "100 billion," "100 strong," and "100 years" [1] Group 1 - Hars has become a leading manufacturer of stainless steel vacuum thermal vessels, exporting products to over 80 countries and regions, and has achieved three consecutive years of global sales leadership in this category [1] - The unique corporate experience and development model of Hars over its 40 years provide significant industry reference value, which will be documented in a book by Xinhua Publishing House [2] - The collaboration between Xinhua Publishing House and Hars aims to create a co-branded series of cup and kettle products that integrate national cultural symbols, enhancing cultural confidence and societal relevance [4] Group 2 - The partnership with Xinhua Publishing House includes the issuance of a cultural cooperation development authorization, indicating a strategic move towards cultural branding [4][6] - Hars' future initiatives will focus on building the "Hars Future Intelligent Creation Park" and achieving the goal of becoming a "lighthouse factory" in the digital manufacturing space [1]

Core Insights - Zhejiang Hars (002615) celebrates its 14th anniversary since listing and 40th anniversary of establishment, with Chairman Lv Qiang reflecting on the company's development and announcing the latest progress of the "300 Strategy" [1] Financial Performance - In 2011, the year of its listing, Hars achieved revenue of 510 million yuan, which has increased to 3.4 billion yuan in 2024, representing a cumulative growth of over six times [1] - The company has distributed a total cash dividend of 722 million yuan over the past fourteen years, actively rewarding investors [1] Strategic Focus - Hars aims to dominate the "100 billion cup and kettle market" by adopting a long-term perspective, focusing on enhancing research and development, products, branding, and channel expansion as four key engines [1] - The company intends to ensure that in the next decade, Chinese consumers will think of Hars first when considering thermal cups [1] Market Expansion - Hars' self-owned brand business has established online channels covering traditional and interest-based e-commerce, while offline channels are undergoing constructive upgrades [1] - The company plans to further expand into emerging channels such as membership supermarkets, instant retail, and trendy boutique stores [1] International Strategy - Hars' OEM team has formed deep partnerships with leading brands, creating a resilient delivery network across multiple regions, clients, and cycles, which supports sustained high growth in performance [1] Industry Trends - The cup and kettle industry is transitioning from durable goods to fast-moving consumer goods, and Hars, with its advantages in supply chain, branding, and channels, is well-positioned to benefit from this shift [1]

Core Insights - The chairman of Hars (002615) defines the trend of thermos cups as evolving into a new form of currency representing emotions, identity, and social interactions [1] - The company has achieved a comprehensive self-control over the entire supply chain from materials to patents, leveraging the advantages of the Yongkang Five Gold Industry Cluster [1] Industry Trends - The overseas market for thermos cups has undergone three evolutions: from durable goods to scenario consumer goods, and finally to fast-moving consumer goods, leading to exponential demand growth [1] - The company is focusing on deepening relationships with top brand clients in overseas markets while successfully entering untapped markets [1] Financial Performance - The company projects a compound annual growth rate (CAGR) of over 15% in revenue, reaching 3.332 billion yuan by 2024 [1] - Cumulative cash dividends amount to 722 million yuan, reflecting the company's commitment to rewarding investors [1] Future Strategy - The company plans to continue investing in research and development, branding, and digitalization under the "Three Hundred Strategy" to secure a leading position in the trillion-yuan thermos market [1] - There is an ongoing exploration of the IP economy, with plans to launch emotion-themed new products to engage younger consumers and strengthen the "Chinese Symbol" brand asset [1]

证券简称：哈尔斯 证券代码：002615 浙江哈尔斯真空器皿股份有限公司 ZheJiang Haers Vacuum Containers Co.,Ltd. （浙江省永康经济开发区哈尔斯路 1 号） 2023 年度向特定对象发行 A 股股票 （上海市浦东新区银城中路 200 号中银大厦 39 楼） 二〇二五年七月 哈尔斯 2023 年向特定对象发行股票 募集说明书 重大事项提示 本公司特别提请投资者注意，在做出投资决策之前，务必仔细阅读本募集 说明书"第五节 与本次发行相关的风险因素"的全部内容，并特别关注以下事 项。 一、本次向特定对象发行股票的相关事项已经公司第六届董事会第五次会议、 第六届董事会第十四次会议、2024 年第二次临时股东大会、2025 年第三次临时 股东大会审议通过以及深交所发行上市审核机构审核通过。根据相关法律法规的 规定，本次发行尚需中国证监会同意注册后方可实施。 募集说明书 （注册稿） 保荐机构（主承销商） 二、本次向特定对象发行股票的对象为不超过 35 名的特定投资者，包括符 合中国证监会规定的证券投资基金管理公司、证券公司、信托公司、财务公司、 保险机构投资者、合格境外机构投资者 ...

Core Viewpoint - Zhejiang Haers Vacuum Vessel Co., Ltd. has received approval from the China Securities Regulatory Commission (CSRC) for its application to issue shares to specific investors, indicating a strategic move to raise capital for future growth [1][3]. Group 1: Approval Details - The CSRC has granted approval for the company to register its stock issuance to specific investors [1]. - The approval is valid for 12 months from the date of consent [3]. - The company must implement the issuance strictly according to the submitted documents and plans to the Shenzhen Stock Exchange [2]. Group 2: Compliance and Reporting - The company is required to report any significant events to the Shenzhen Stock Exchange from the date of approval until the completion of the issuance [3]. - The board of directors will handle the issuance matters within the stipulated timeframe and fulfill information disclosure obligations as per relevant laws and regulations [3]. Group 3: Contact Information - The company has provided contact details for its investment and securities management center for inquiries related to the stock issuance [4]. - The main underwriter, Zhongyin International Securities Co., Ltd., has also shared its contact information for further assistance [4].

Group 1 - Hars has received approval from the China Securities Regulatory Commission for a stock issuance to specific targets [1] - Baolande's shareholders plan to reduce their holdings by up to 3% of the company's shares [1] - Zhichun Technology's controlling shareholder intends to reduce holdings by up to 2.35% of the company's shares [2] Group 2 - Yema Battery's actual controllers plan to reduce their holdings by up to 3% of the company's shares [3] - Fangda Carbon has paid a total of 51.93 million yuan in tax and late fees [3] - Robotech's subsidiary signed a contract worth approximately 946.5 million euros [4] Group 3 - Xinke Mobile's shareholders plan to reduce their holdings by up to 1% of the company's shares [5] - Tongcheng New Materials' shareholder plans to reduce holdings by up to 2.17% of the company's shares [6] - SF Holding has repurchased 1.185 million A-shares for a total amount of 49.78 million yuan [8] Group 4 - Changqing Technology plans to issue convertible bonds to raise no more than 800 million yuan [10] - Aishida's subsidiary signed a framework cooperation agreement for equipment procurement [11] - Dayu Water's subsidiary has become the first candidate for a major water supply project with a pre-bid amount of 161 million yuan [12] Group 5 - Wanlima signed a significant contract worth approximately 44.6 million yuan [13] - Tieliu Co. signed a framework agreement with a robotics research institute [14] - Gongda Keya won a project for smart heating renovation with an estimated investment of about 100 million yuan [15] Group 6 - Jiaxun Feihong signed an overseas project contract worth approximately 41.77 million yuan [16] - Xiangfenghua's shareholder plans to reduce holdings by up to 2% of the company's shares [17] - Bangjie Co.'s subsidiary has been applied for bankruptcy reorganization [18] Group 7 - *ST Lanhua plans to establish a joint venture company with a registered capital of 70 million yuan [19] - Zhongcheng Co. intends to purchase 100% equity of a clean energy company for 151 million yuan [19]