Group 1 - The company will pay the second-year interest on the convertible bonds "Xingrui Convertible Bonds" on July 24, 2025, at a rate of 4.00 CNY per 10 bonds (including tax) [1][5] - The total issuance amount of the convertible bonds is 462 million CNY (46,200 million CNY) with a total of 4.62 million bonds issued [2][5] - The interest rates for the convertible bonds are structured as follows: 0.2% for the first year, 0.4% for the second year, 0.8% for the third year, 1.5% for the fourth year, 2.0% for the fifth year, and 2.5% for the sixth year [2][3] Group 2 - The interest payment will be made annually, with the first interest payment starting from the issuance date on July 24, 2023 [3][6] - The bondholders must hold the bonds until the record date of July 23, 2025, to receive the interest payment [1][6] - The company has appointed China Securities Depository and Clearing Corporation Limited Shenzhen Branch as the registration agency for the bonds [4][5] Group 3 - The company has received a credit rating of AA- for the issuer and AA for the bonds from Dongfang Jincheng International Credit Rating Co., Ltd [5] - The actual interest received by individual investors will be 3.20 CNY per 10 bonds after a 20% withholding tax [5][7] - For qualified foreign institutional investors (QFII and RQFII), the interest is exempt from corporate income tax and value-added tax, resulting in a full payment of 4.00 CNY per 10 bonds [5][7]

| 证券代码：002937 | 证券简称：兴瑞科技 公告编号：2025-064 | | --- | --- | | 债券代码：127090 | 债券简称：兴瑞转债 | 2、债权登记日：2025 年 7 月 23 日； 3、除息日：2025 年 7 月 24 日； 4、付息日：2025 年 7 月 24 日； 5、"兴瑞转债"票面利率：第一年 0.2%、第二年 0.4%、第三年 0.8%、第 四年 1.5%、第五年 2.0%、第六年 2.5%； 6、"兴瑞转债"本次付息的债权登记日为 2025 年 7 月 23 日，凡在 2025 年 7 月 23 日（含）前买入并持有本期债券的投资者享有本次派发的利息；2025 年 7 月 23 日卖出本期债券的投资者不享有本次派发的利息； 宁波兴瑞电子科技股份有限公司 特别提示： 关于可转换公司债券 2025 年付息公告 1、"兴瑞转债"将于 2025 年 7 月 24 日按面值支付第二年利息，每 10 张"兴 瑞转债"（面值 1,000 元）利息为 4.00 元（含税）； 本公司及董事会全体成员保证公告内容真实、准确和完整，不存在任何虚 假记载、误导性陈述或者重大遗漏。 ...

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected stock price increase of over 15% relative to the industry index in the next six months [3][18]. Core Viewpoints - The company has signed a strategic cooperation framework agreement with Shenzhen Green Cloud Technology Co., Ltd. to develop liquid cooling server products and technology [1]. - The collaboration leverages the technical strengths of both companies, enhancing capabilities in precision manufacturing and thermal management systems, which are crucial for the development of liquid cooling solutions [2]. - The liquid cooling market is projected to grow significantly, with the global data center liquid cooling market expected to increase from $5.38 billion in 2024 to $17.77 billion by 2030, reflecting a CAGR of 21.6% from 2025 to 2030 [7]. Financial Summary - The company's revenue is projected to decline to 1,902 million yuan in 2024, a decrease of 5.2% year-on-year, before recovering to 2,187 million yuan in 2025, with a growth rate of 15% [1][2]. - The net profit attributable to the parent company is expected to decrease to 229 million yuan in 2024, down 14.4% year-on-year, but is forecasted to rise to 245 million yuan in 2025 [1][2]. - Key financial metrics include a projected EPS of 0.82 yuan in 2025, with a P/E ratio of 20.4 times [1][8].

| 证券代码：002937 | 证券简称：兴瑞科技 | 公告编号：2025-063 | 债 | | --- | --- | --- | --- | | 券代码：127090 | 债券简称：兴瑞转债 | | | 宁波兴瑞电子科技股份有限公司 关于"兴瑞转债"预计触发转股价格修正条件的提示性公告 本公司及董事会全体成员保证公告内容真实、准确和完整，不存在任何虚假 记载、误导性陈述或者重大遗漏。 特别提示： 4、转股起止时间：2024 年 1 月 29 日至 2029 年 7 月 23 日 5、本次触发转股价格修正条件的期间从 2025 年 7 月 1 日起算，截至 2025 年 7 月 11 日，宁波兴瑞电子科技股份有限公司（以下简称"公司"）股票在连 续三十个交易日中已有九个交易日的收盘价低于当期转股价格的 85%，预计后 续可能触发转股价格向下修正条件。若触发转股价格修正条件，公司将按照深圳 证券交易所（以下简称"深交所"）相关规定及《宁波兴瑞电子科技股份有限公 司向不特定对象发行可转换公司债券募集说明书》（以下简称"《募集说明书》"） 的约定及时履行后续审议程序和信息披露义务。敬请广大投资者注意投资风险。 ...

| 证券代码：002937 | 证券简称：兴瑞科技 | 公告编号：2025-062 | | --- | --- | --- | | 债券代码：127090 | 债券简称：兴瑞转债 | | 宁波兴瑞电子科技股份有限公司 关于完成《公司章程》备案登记的公告 本公司及董事会全体成员保证公告内容真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏。 宁波兴瑞电子科技股份有限公司董事会 2025 年 7 月 10 日 宁波兴瑞电子科技股份有限公司（以下简称"公司"）于2025年5月15日召 开第四届董事会第三十二次会议，于2025年6月3日召开2025年第二次临时股东大 会，审议通过《关于修订<公司章程>及相关议事规则的议案》等议案，具体内容 详见公司于2025年5月17日披露于巨潮资讯网（www.cninfo.com.cn）的《关于修 订<公司章程>及公司部分治理制度的公告》（公告编号：2025-049）、《公司章 程》等披露文件。 近日，公司在宁波市市场监督管理局完成了《公司章程》的备案登记手续。 特此公告。 ...

Group 1 - Company signed a strategic cooperation framework agreement with Shenzhen Green Cloud Technology Co., Ltd. to develop liquid cooling server products and technology [1] - Green Cloud Technology is a subsidiary of NetEase Technology and specializes in providing green data center solutions based on immersion liquid cooling technology [1][2] - The cooperation focuses on three main areas: product processing, joint technology research and development, and resource sharing [2] Group 2 - In product processing, Green Cloud will prioritize entrusting the manufacturing of integrated systems and related equipment to the company under equal business conditions [2] - Joint R&D will target cutting-edge technologies in liquid cooling servers, with both parties determining research directions and projects together [2] - Resource sharing will involve Green Cloud providing experimental support and the company offering mold development services to assist in new product testing [2] Group 3 - The company specializes in precision component manufacturing and R&D, with products used in electric vehicle systems, smart terminals, and consumer electronics [3] - In 2024, the company's automotive electronics and new energy vehicle business achieved sales revenue of 1.041 billion yuan, with over 80% from new energy vehicles, showing a growth rate of over 10% [3] - The company has completed capacity planning in multiple domestic locations and is expanding overseas in Thailand, Vietnam, and Indonesia, while strengthening market presence in Europe and North America [3] Group 4 - The company aims to focus on opportunities in computing servers and robotics, actively seeking external development opportunities based on industry insights [3]

Core Viewpoint - The article summarizes important announcements from various listed companies in the Shanghai and Shenzhen stock markets, providing insights for investors regarding operational updates, stock performance, and significant corporate actions. Group 1: Company Announcements - Huaguang Huaneng's stock has experienced five consecutive trading limit increases, with a trading volume of 29.41% over the last five days, indicating potential irrational speculation, although the company's fundamentals remain stable [3]. - Andeli's actual controller Wang An transferred 90% of the shares of BVI Ping An to his daughter Wang Meng, but this transfer does not affect the company's governance structure or control [5]. - Singshan Co. received a court notice regarding the judicial disposal of 4.26 million shares, accounting for 0.19% of the total share capital, but this is not expected to impact daily operations [6]. - Three Gorges Energy reported a total power generation of 39.314 billion kWh in the first half of 2025, an increase of 8.85% year-on-year [7]. - New Zhonggang's stock has seen four consecutive trading limits, with no significant media reports or market rumors affecting its price [8]. - ST Yazhen's stock was suspended for one trading day due to a tender offer by its controlling shareholder, with a total of 55.1779 million shares involved [9]. - Zhongli Co. plans to invest 478 million yuan in a smart logistics equipment project [11]. - Zhuoran Co. approved the sale of 95% equity in a subsidiary for 723 million yuan, which does not constitute a related party transaction [12]. - Jerry Co. received a project award for a natural gas booster station worth approximately 850 million USD [13]. - Qujiang Cultural Tourism plans to publicly transfer 38% equity in a subsidiary valued at approximately 22.98 million yuan [14]. - Foshan Technology intends to publicly transfer 100% equity of a subsidiary with a starting price of 180 million yuan [15]. Group 2: Performance Forecasts - Xianda Co. expects a net profit increase of 2443.43% to 2834.73% in the first half of 2025, driven by rising product prices and improved cost control [25]. - Muyuan Co. anticipates a net profit of 10.5 billion to 11 billion yuan, reflecting a year-on-year growth of 924.6% to 973.39% due to increased pig sales and lower costs [26]. - Jiangshan Co. forecasts a net profit increase of 75.65% to 110.78% in the first half of 2025, supported by product optimization and cost control [28]. - Chenguang Bio's net profit is expected to rise by 102.33% to 132.38%, primarily due to improved market conditions for its cottonseed business [29]. - Xinlian Electronics predicts a net profit of 166 million to 198 million yuan, marking a turnaround from a loss in the previous year [30]. - Wohua Pharmaceutical expects a net profit increase of 233.89% to 378.27% due to market adaptation and cost control measures [31]. - Yonghe Co. anticipates a net profit increase of 126.30% to 148.49% driven by rising refrigerant prices [32]. - Shanghai Pharmaceuticals expects a net profit increase of approximately 52% due to the acquisition of a stake in a subsidiary [34]. - AVIC Heavy Machinery forecasts a net profit decline of about 33.29% due to falling product prices [35]. - Jingneng Real Estate expects a net loss of 190 million to 210 million yuan in the first half of 2025 due to reduced scale and increased expenses [36]. Group 3: Major Contracts - Fengfan Co. won a bid for a project worth approximately 337 million yuan from the Southern Power Grid [37]. - Longjian Co. was part of a consortium that won a project bid worth 362 million yuan for infrastructure construction [38].

| 证券代码：002937 | 证券简称：兴瑞科技 公告编号：2025-061 | | --- | --- | | 债券代码：127090 | 债券简称：兴瑞转债 | 1、本次与合作方签署的战略合作框架协议属于框架性协议，在具体实施过 程中尚存在不确定性，敬请广大投资者谨慎决策，注意投资风险； 本公司及董事会全体成员保证公告内容真实、准确和完整，不存在任何虚假 记载、误导性陈述或者重大遗漏。 特别提示： 2、本次签署的战略合作框架协议对公司本年度经营业绩不会构成重大影响， 对公司未来年度经营业绩的影响将视与合作方后续项目的实施情况确定。 一、协议签署概况 宁波兴瑞电子科技股份有限公司（以下简称"公司"）近日与深圳绿色云图 科技有限公司（以下简称"绿色云图"）签订了《战略合作框架协议》。公司与 绿色云图围绕"液冷服务器相关产品生产、技术研发"建立战略合作关系，共同 推动相关业务发展。 根据《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》《公司章程》等有关规定，本事项不构 成关联交易，也不构成重大资产重组，无需提交公司董事会和股东会审议。 宁波兴瑞电子科技股份有 ...

Group 1 - The company issued 4,620,000 convertible bonds with a total amount of RMB 462 million, with a maturity of 6 years from July 24, 2023, to July 23, 2029 [1][2] - The initial conversion price for the bonds is set at RMB 26.30 per share, which has been adjusted to RMB 25.60 per share for the current period [2] - As of June 30, 2025, the remaining convertible bonds amount to 4,616,296, equivalent to RMB 461,629,600 [2][3] Group 2 - The total number of shares before the conversion was 297,777,393, which increased to 297,777,779 after the conversion of 386 shares [3] - The proportion of restricted shares decreased from 0.33% to 0.28%, while the proportion of unrestricted shares increased from 99.67% to 99.72% [3]

Group 1 - The company, Ningbo Xingrui Electronic Technology Co., Ltd., has approved a share repurchase plan using self-raised funds, with a total amount not less than RMB 60 million and not exceeding RMB 120 million [1] - The repurchase price will not exceed RMB 31 per share, and the implementation period is within 12 months from the date of the shareholders' meeting [1] - The purpose of the repurchase is for equity incentives, employee stock ownership plans, or other legally permitted incentive types [1] Group 2 - As of June 30, 2025, the company has not yet implemented the share repurchase plan [2] - The company will carry out the repurchase plan based on market conditions and will fulfill information disclosure obligations in accordance with relevant regulations [2]