Company Overview - Company name: Shenzhen Kanda Electronic Technology Co., Ltd. - Established on July 30, 1998, and listed on December 27, 2019 - Main business involves providing products, services, and system solutions in the rail transit sector [2] Financial Performance - As of June 30, 2025, the company achieved operating revenue of 160 million yuan, a year-on-year increase of 12.27% - Net profit attributable to shareholders was 51.69 million yuan, a year-on-year decrease of 7.99% [2] - Cumulative cash distribution since A-share listing amounts to 400 million yuan, with 251 million yuan distributed over the last three years [3] Stock Performance - Year-to-date stock price increase of 27.01% - Recent performance: 4.58% increase over the last 5 trading days, 6.20% decrease over the last 20 days, and 10.43% increase over the last 60 days [2] - As of September 17, the stock price was 13.02 yuan per share, with a market capitalization of 3.203 billion yuan [1] Shareholder Information - As of June 30, 2025, the number of shareholders was 14,500, a decrease of 1.08% from the previous period - Average circulating shares per person increased by 2.23% to 9,266 shares [2] Capital Flow - On September 17, there was a net outflow of main funds amounting to 1.5099 million yuan - Large single purchases totaled 2.7352 million yuan, accounting for 9.56% of the total, while sales amounted to 4.2451 million yuan, accounting for 14.84% [1] Business Segmentation - Revenue composition: - Rail transit signal control systems: 67.23% - Lightning protection and intelligent diagnosis: 26.95% - System integration: 5.39% - Snow melting for switches: 0.29% - Other income: 0.13% [2] Industry Classification - The company belongs to the Shenwan industry classification: Machinery Equipment - Rail Transit Equipment II - Rail Transit Equipment III - Concept sectors include: Railway infrastructure, intelligent transportation, small-cap stocks, information security, and rail transit [2]

特别提示 一、会议召开和出席情况 （一）会议召开时间： 1、现场会议召开时间：2025 年 9 月 11 日（星期四）下午 14：45 证券代码：002972 证券简称：科安达 公告编号：2025-042 深圳科安达电子科技股份有限公司 2025 年第一次临时股东大会决议公告 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、误导性陈述或重大遗漏。 2、网络投票时间：2025 年 9 月 11 日 （1）通过深圳证券交易所交易系统进行网络投票的时间为：2025 年 9 月 11 日上午 9：15 至 11：30，下午 13：00 至 15：00； （2）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 9 月 11 日上午 9：15 至 2025 年 9 月 11 日下午 15：00 期间的任意时间。 （二）现场会议召开地点：广东省深圳市福田区深南大道 1006 号国际创新中 心 C 座 15 楼公司会议室。 （三）召集人：公司董事会 （六）会议的召集、召开程序、出席会议人员的资格和表决程序均符合《公司 法》《上市公司股东会规则》《深圳证券交易所股票上市规则》等法律、 行 ...

上海市锦天城（深圳）律师事务所 法律意见书 上海市锦天城（深圳）律师事务所 关于深圳科安达电子科技股份有限公司 2025年第一次临时股东大会的 法律意见书 上海市锦天城（深圳）律师事务所 法律意见书 本次会议采用现场会议和网络投票相结合的方式进行。本次会议的现场会议 于 2025 年 9 月 11 日（星期四）14:45 在深圳市福田区深南大道 1006 号深圳国际 创新中心 C 栋 15 层会议室如期召开。公司股东通过深圳证券交易所交易系统投 票平台进行网络投票的时间为2025年9月11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时间为 2025 年 9 月 11 日 9:15-15:00。 本所认为，本次股东大会的召集和召开程序符合《公司法》《股东会规则》 和《公司章程》的规定。 1 上海市锦天城（深圳）律师事务所 关于深圳科安达电子科技股份有限公司 2025 年第一次临时股东大会的法律意见书 致：深圳科安达电子科技股份有限公司 上海市锦天城（深圳）律师事务所（下称"本所"）接受深圳科安达电子科 技股份有限公司（下称"公司"）的委托，指派律师 ...

Core Viewpoint - The company is focused on the research and innovation of industry-related products, particularly in the field of smart city intelligent operation and maintenance products, and aims to enhance shareholder value through continued efforts in product promotion and business development [2]. Group 1 - The company is increasing its research and development investment in smart city intelligent operation and maintenance products [2]. - The company's intelligent and digital products have been effectively applied in the construction of rail transit [2]. - The company is committed to striving for excellent results to reward shareholders and investors [2].

Group 1 - The core viewpoint is that the rail transit industry is expected to enter a new growth cycle during the "14th Five-Year Plan" period, transitioning from "scale expansion" to "quality and efficiency" and from "domestic dominance" to "global leadership" [1] - The company anticipates benefiting from the planning and development of urban rail transit, with sufficient orders on hand and a commitment to R&D innovation, leading to a broad future development outlook [1][2] - The company plans to increase investments in R&D, production, and internal control management to solidify a robust business operation system and utilize raised funds to expand production capacity for stable future development [1] Group 2 - The company will focus on several aspects for its business development plan, including research system construction, product system optimization, production capacity enhancement, market expansion, and management system improvement [2] - The company aims to concentrate on the rail transit industry, enhancing its product lines in signal axle counting systems, lightning protection systems, and snow melting systems, while also innovating and upgrading product technology to increase market share [2] - The company will explore new marketing models, intensify market expansion efforts, and establish a nationwide marketing network while continuously expanding overseas markets to achieve coordinated domestic and international development [2]

Core Viewpoint - The stock price of Kanda has shown a significant increase of 24.77% year-to-date, with recent fluctuations indicating a mixed performance in the short term [2]. Company Overview - Kanda Electronics Technology Co., Ltd. was established on July 30, 1998, and listed on December 27, 2019. The company is based in Shenzhen, Guangdong Province, and specializes in providing products, services, and system solutions in the rail transit sector [2]. - The main revenue composition includes: 64.63% from rail transit signal control systems, 23.90% from lightning protection and intelligent diagnosis, 6.64% from switch snow melting, 4.73% from system integration, and 0.11% from other sources [2]. Financial Performance - For the first half of 2025, Kanda achieved operating revenue of 160 million yuan, representing a year-on-year growth of 12.27%. However, the net profit attributable to shareholders decreased by 7.99% to 51.69 million yuan [2]. - Since its A-share listing, Kanda has distributed a total of 400 million yuan in dividends, with 251 million yuan distributed over the past three years [3]. Shareholder Information - As of June 30, 2025, the number of Kanda's shareholders was 14,500, a decrease of 1.08% from the previous period. The average number of circulating shares per person increased by 2.23% to 9,266 shares [2]. - Notably, as of the same date, the fund "Baodao Yuanhang Mixed A" has exited the list of the top ten circulating shareholders [3]. Market Activity - On September 5, Kanda's stock price rose by 2.48%, reaching 12.79 yuan per share, with a trading volume of 13.748 million yuan and a turnover rate of 0.81%. The total market capitalization stood at 3.146 billion yuan [1]. - In terms of capital flow, there was a net inflow of 695,900 yuan from main funds, with significant buying activity from large orders [1].

Group 1: Industry Opportunities and Growth - The "14th Five-Year Plan" and "15th Five-Year Plan" are expected to create new opportunities for the rail transit industry, focusing on quality and efficiency rather than just expansion [2][3] - The rail transit sector is projected to enter a new growth cycle during the "15th Five-Year Plan" period, driven by national strategies such as "dual carbon" goals and new urbanization [2][3] Group 2: Financial Performance - In the first half of 2025, the company achieved total revenue of 160 million yuan, a year-on-year increase of 12.27%, and a net profit of 51.69 million yuan [3][4] - Total assets increased by only 0.04%, indicating stable asset structure [3] Group 3: Cash Flow and Dividends - The net cash flow from operating activities decreased due to increased cash expenditures for goods and services, but remained positive [3] - The profit distribution plan considers operational performance, asset liabilities, cash flow, and future development needs [3] Group 4: Market Position and Strategy - The company maintains a high domestic product share while actively expanding into international markets [3][4] - The company is focusing on three core product lines: signal counting systems, lightning protection systems, and snow melting systems, while also exploring new product areas [5][6] Group 5: Research and Development - R&D expenses for the reporting period amounted to approximately 17.17 million yuan, with over 10% of annual revenue allocated to R&D [6] - The company has successfully developed and deployed an intelligent monitoring and diagnostic system, gaining market recognition [6] Group 6: Project Involvement - The company has participated in the construction and commissioning of over 200 rail transit lines across more than 50 cities in China [6] - The company has completed lightning protection projects at over 5,000 train stations, indicating a significant market share [6]

Core Viewpoint - The stock price of Kanda has experienced fluctuations, with a year-to-date increase of 23.70% but a recent decline of 7.92% over the last five trading days [2]. Company Overview - Kanda Electronics Technology Co., Ltd. is located in Shenzhen, Guangdong Province, and was established on July 30, 1998, with its listing date on December 27, 2019 [2]. - The company specializes in providing products, services, and system solutions in the rail transit sector, with its main business revenue composition as follows: 64.63% from rail transit signal control systems, 23.90% from lightning protection and intelligent diagnosis, 6.64% from switch snow melting, 4.73% from system integration, and 0.11% from other sources [2]. Financial Performance - For the first half of 2025, Kanda achieved operating revenue of 160 million yuan, representing a year-on-year growth of 12.27%. However, the net profit attributable to shareholders decreased by 7.99% to 51.69 million yuan [2]. - Since its A-share listing, Kanda has distributed a total of 400 million yuan in dividends, with 251 million yuan distributed over the past three years [3]. Shareholder Information - As of June 30, 2025, Kanda had 14,500 shareholders, a decrease of 1.08% from the previous period, with an average of 9,266 circulating shares per person, an increase of 2.23% [2]. - Notably, as of June 30, 2025, the fund "Baodao Yuanhang Mixed A" (007126) has exited the list of the top ten circulating shareholders [3].

Core Viewpoint - The recent financial report of Kanda (002972) shows a mixed performance with a revenue increase but a decline in net profit, highlighting concerns over accounts receivable and profitability metrics [1][3]. Financial Performance Summary - Total revenue for the first half of 2025 reached 160 million yuan, a year-on-year increase of 12.27% compared to 143 million yuan in 2024 [1]. - Net profit attributable to shareholders was 51.69 million yuan, down 7.99% from 56.18 million yuan in the previous year [1]. - The second quarter revenue was 79.21 million yuan, up 8.19% year-on-year, while net profit for the same period fell by 33.76% to 19.66 million yuan [1]. - Gross margin decreased to 62.22%, down 2.61% year-on-year, and net margin fell to 32.22%, a decline of 17.94% [1]. - Total operating expenses (sales, management, and financial expenses) amounted to 26.16 million yuan, representing 16.3% of revenue, a decrease of 14.89% [1]. - Earnings per share (EPS) decreased to 0.21 yuan, down 7.41% from 0.23 yuan [1]. Accounts Receivable and Cash Flow - Accounts receivable were significant, amounting to 468 million yuan, which is 531.76% of the net profit, raising concerns about cash flow management [1][3]. - Operating cash flow per share was 0.26 yuan, a decrease of 23.63% year-on-year [1]. Investment and Fund Holdings - The largest fund holding Kanda is Xin'ao Star Bright Mixed A, which increased its position to 49,200 shares, with a recent net value of 1.8218, reflecting a 99.15% increase over the past year [4].

Group 1 - The company, Kanda (002972.SZ), confirmed on August 26 that it currently has no collaboration with Huawei Technologies [2]