Financial News - In the first four months of 2023, Dongguan's major projects completed an investment of 42.909 billion yuan, representing a year-on-year increase of 6%, with progress 1.9 percentage points faster than the same period last year [1] - A total of 71 new major projects were started, and 14 major projects were completed and put into operation during this period [1] Company Dynamics - Changlian Technology announced an adjustment to its fundraising project, increasing its annual production capacity to 27,700 tons for environmentally friendly water-based printing paste, with a total investment of 208 million yuan [2] - The company reported a revenue of 136 million yuan and a net profit of 16.25 million yuan for Q1 2025 [3] - Mousse Health Sleep Co., Ltd. announced that its 2024 employee stock ownership plan's first unlocking period did not meet performance targets, resulting in a deferral of rights to the next period [5][6] - TuoSiDa announced an extension of the implementation deadline for its intelligent manufacturing project to December 31, 2025, with a cumulative investment of 23.2 million yuan as of May 23, 2025 [7] - TuoSiDa reported a revenue of 362 million yuan and a net profit of 3.85 million yuan for Q1 2025 [8] - Aohai Technology conducted its first share buyback, repurchasing 150,000 shares at a total cost of approximately 5.5623 million yuan [9] - Aohai Technology reported a revenue of 1.442 billion yuan and a net profit of 125 million yuan for Q1 2025 [10] Industry Developments - Guangdong's first commercial sodium-ion energy storage power station project officially commenced operations, marking a significant step in the application of sodium battery storage technology [4]

证券代码：002993 证券简称：奥海科技 公告编号：2025-030 东莞市奥海科技股份有限公司 关于首次回购公司股份的公告 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。 东莞市奥海科技股份有限公司（以下简称"公司"）于 2025 年 4 月 21 日召 开第三届董事会第七次会议审议通过了《关于回购公司股份方案暨取得股票回购 专项贷款承诺函的议案》，并于 2025 年 4 月 30 日在《证券时报》《中国证券报》 《上海证券报》《证券日报》和巨潮资讯网（www.cninfo.com.cn）上披露《回 购报告书》（公告编号：2025-024）。 一、首次回购股份的具体情况 2025 年 5 月 29 日，公司首次以集中竞价交易方式实施了回购股份，回购股 份数量 150,000 股，约占公司目前总股本的 0.05%，最高成交价为 37.4 元/股， 最低成交价为36.85元/股，成交总金额为人民币556.2306万元（不含交易费用）。 本次回购的实施符合公司股份回购方案及相关法律法规的要求。 二、其他说明 公司计划以自有资金或自筹资金回购公司部分人民币普通股（ ...

Core Viewpoint - Aohai Technology (002993) has experienced a decline in stock price, closing at 37.55 yuan as of May 23, 2025, down 2.26% from the previous week, with a total market capitalization of 10.365 billion yuan [1] Group 1: Stock Performance - As of May 23, 2025, Aohai Technology's stock reached a high of 39.3 yuan and a low of 37.41 yuan during the week [1] - The company ranks 25th out of 87 in the consumer electronics sector and 1490th out of 5148 in the A-share market by market capitalization [1] Group 2: Shareholder Changes - As of May 20, 2025, the number of shareholders decreased to 22,000, a reduction of 1,361 shareholders or 5.83% since April 30 [2][5] - The average number of shares held per shareholder increased from 11,800 to 12,600, with an average holding value of 488,200 yuan [2] Group 3: Dividend Announcement - Aohai Technology announced a profit distribution plan for 2024, proposing a cash dividend of 9 yuan per 10 shares, totaling 246,140,316 yuan [3] - The ex-dividend date is set for May 29, 2025, with the adjusted ex-dividend price calculated at 8.916835 yuan per share [3] Group 4: Share Buyback Plan - The company adjusted the maximum buyback price from 59 yuan to 58.11 yuan per share, effective May 29, 2025 [4] - Aohai Technology plans to repurchase shares with a total amount between 40 million and 80 million yuan, aiming to buy back approximately 688,350 to 1,376,699 shares, representing 0.25% to 0.50% of total shares [4]

证券代码：002993 证券简称：奥海科技 公告编号：2025-029 东莞市奥海科技股份有限公司 关于 2024 年年度权益分派实施后调整回购价格上限的公告 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。 特别提示： 东莞市奥海科技股份有限公司（以下简称"公司"）在回购股份期间实施了 2024 年年度权益分派，根据《回购报告书》，如公司在回购股份期内实施了资 本公积转增股本、配股、现金分红及其他除权除息事项，自股价除权除息之日起， 按照中国证监会和深圳证券交易所的相关规定相应调整回购股份价格上限。现回 购股份价格上限调整如下： （1）调整前回购股份价格上限：59 元/股； （2）调整后回购股份价格上限：58.11 元/股； 购股份的价格不超过人民币 59 元/股；回购股份的期限为自董事会审议通过回购 股份方案之日起 12 个月内，公司在回购股份的期限内根据市场情况择机做出回 购决策并予以实施。本次回购的用途为员工持股计划或者股权激励。 二、调整股份回购价格上限的原因 公司于 2025 年 5 月 13 日召开 2024 年年度股东大会审议通过了《关于 202 ...

东莞市奥海科技股份有限公司 2024 年年度权益分派实施公告 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。 特别提示： 1、东莞市奥海科技股份有限公司（以下简称"公司"）通过回购专用证券 账户持有的公司股份 2,550,760 股不享有利润分配权利。 证券代码：002993 证券简称：奥海科技 公告编号：2025-028 2、公司 2024 年年度利润分配方案为：以公司现有总股本 276,040,000 股剔 除已回购股份 2,550,760 股后的 273,489,240 股为基数，向全体股东每 10 股派 发现金股利人民币 9 元（含税），合计派发现金人民币 246,140,316 元，剩余利 润作为未分配利润留存。不送红股，不以资本公积金转增股本。 3、本次权益分派实施后除权除息价格计算时，每 10 股现金红利应以 8.916835 元计算。（每 10 股现金股利=实际派发现金股利总额÷总股本（含回 购股份）×10=246,140,316 元÷276,040,000 股×10=8.916835 元）。本次权益 分派实施后除权除息参考价=股权登记日收盘价 ...

东莞市奥海科技股份有限公司 2024 年年度股东大会决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完 整，没有虚假记载、误导性陈述或重大遗漏。 证券代码：002993 证券简称：奥海科技 公告编号：2025-027 特别提示： 1、本次股东大会未出现否决提案的情形。 2、本次股东大会未涉及变更以往股东大会已通过的决议。 一、会议召开及出席情况 1、会议召开情况 （1）本次股东大会的召开时间 现场会议召开时间：2025 年 5 月 13 日（星期二）下午 14:00。 网络投票时间：2025 年 5 月 13 日；其中，通过深圳证券交易所交易系统投 票的时间为：2025 年 5 月 13 日上午 9:15-9:25，9:30-11:30，下午 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 5 月 13 日上午 9:15 至下午 15:00 期间的任意时间。 （2）现场会议召开地点：东莞市塘厦镇沙新路 27 号公司会议室。 （3）会议召开方式：现场投票与网络投票相结合的方式。 （4）会议召集人：公司董事会。 （5）现场会议主持人：公司董事长刘昊先生。 （6） ...

11、12/F, TaiPing Finance Tower, Yitian Road 6001, Futian District, ShenZhen, P.R China 电话(Tel.)：(0755)88265288 传真(Fax.)：(0755)88265537 网址（Website）：http://www.sundiallawfirm.com 广东信达律师事务所 关于东莞市奥海科技股份有限公司2024年年度股东大会 法律意见书 中国深圳福田区益田路6001号太平金融大厦11、12楼 邮政编码：518038 信达会字（2025）第115号 致：东莞市奥海科技股份有限公司 根据《中华人民共和国公司法》（下称"《公司法》"）、《中华人民共和 国证券法》《上市公司股东大会规则》（下称"《规则》"）等法律、法规以及 现行有效的《东莞市奥海科技股份有限公司章程》（下称"《公司章程》"）的 规定，广东信达律师事务所（下称"信达"）接受贵公司的委托，指派宋幸幸、 罗晓丹律师（下称"信达律师"）出席贵公司2024年年度股东大会（下称"本次 股东大会"），在进行必要验证工作的基础上，对贵公司本次股东大会的召集、 召开程序 ...

Investment Rating - The report gives a "Strong Buy" rating for the company, with a target price of 48.35 CNY and a current price of 39.49 CNY [2][6][10]. Core Views - The company is positioned as a global leader in mobile charging solutions, benefiting from the growth in consumer electronics driven by AI technology, as well as expanding into the electric vehicle and digital energy sectors [6][10][14]. - The report highlights the company's strong market share in mobile chargers and its strategic partnerships with major clients, which are expected to drive revenue growth [6][10][14]. Summary by Sections Company Overview - The company is a leading player in mobile charging solutions, focusing on the design, development, and production of chargers and power banks for smart devices [14][15]. - It has expanded its business into electric vehicles and digital energy, aiming to capture growth in these sectors [14][15]. Financial Performance - Projected total revenue for 2024 is 6,423 million CNY, with a year-on-year growth of 24.1% [2]. - The net profit attributable to shareholders is expected to reach 465 million CNY in 2024, reflecting a growth of 5.4% [2]. - The company has shown consistent revenue growth, with a significant increase in its digital energy segment [25][32]. Consumer Electronics - The demand for mobile chargers is expected to rise due to the recovery in smartphone shipments and the increasing penetration of AI technology, which enhances charging power and battery capacity [33][36]. - The company maintains the largest market share in mobile chargers globally, with a focus on both original equipment manufacturer (OEM) and aftermarket segments [6][10][33]. Electric Vehicles - The electric vehicle market is growing rapidly, and the company aims to establish itself as a key player in the international electric control sector through strategic acquisitions [6][10][14]. - The acquisition of a controlling stake in a key electric control company has significantly boosted revenue and market penetration [6][10][14]. Digital Energy - The company is expanding its digital energy product line, including server power supplies and charging stations, with a focus on high-power applications [6][10][14]. - The server power supply segment is projected to benefit from the increasing demand driven by AI applications, with products covering power ranges from 550W to 8000W [6][10][14].

Investment Rating - The report gives a "Strong Buy" rating for the company, with a target price of 48.35 CNY and a current price of 39.49 CNY [2][6]. Core Views - The company is positioned as a global leader in mobile charging solutions, benefiting from the growth in consumer electronics driven by AI technology, as well as expanding into the electric vehicle and digital energy sectors [6][10]. - The company is expected to achieve significant revenue growth, with projected revenues of 64.23 billion CNY in 2024, increasing to 121.46 billion CNY by 2027, reflecting a compound annual growth rate (CAGR) of 24.1% [2][25]. - The company’s net profit is forecasted to grow from 4.65 billion CNY in 2024 to 9.61 billion CNY in 2027, indicating a strong upward trend in profitability [2][10]. Summary by Sections Company Overview - The company is a leading player in the mobile charging market, with a focus on expanding into the electric vehicle and digital energy sectors. It has established long-term partnerships with major clients in the consumer electronics space [6][14]. - The company has a stable shareholding structure, with the founders holding over 50% of the shares, ensuring effective decision-making and alignment of interests [20][21]. Financial Performance - The company reported a revenue of 64.23 billion CNY in 2024, with a year-on-year growth of 24.1%. The net profit for the same year is projected at 4.65 billion CNY, reflecting a growth of 5.4% [2][25]. - The gross margin for 2024 is expected to be 19.84%, with a stable R&D expense ratio of 5.48% [27][28]. Consumer Electronics - The demand for mobile chargers is expected to rise due to the recovery in smartphone shipments, with a projected global smartphone shipment of 1.24 billion units in 2024, marking a 6.4% year-on-year increase [33][36]. - The penetration of AI in smartphones is anticipated to drive the demand for higher charging power and battery capacity, leading to an increase in charger prices [36][38]. Electric Vehicles - The company aims to become a key player in the electric vehicle control systems market, leveraging its acquisition of a controlling stake in a related company to enhance its product offerings [6][10]. - The electric vehicle market is experiencing significant growth, with the company positioned to benefit from this trend through its advanced technology and partnerships [6][10]. Digital Energy - The company is expanding its digital energy product line, including server power supplies and charging stations, with a focus on meeting the growing demand driven by AI applications [9][10]. - The server power supply segment is expected to see substantial growth, with products designed to support AI workloads [9][10].

Core Insights - The Chinese wireless charging winding equipment industry is experiencing rapid growth, with a projected market size of approximately 7.52 billion yuan in 2024, representing a year-on-year increase of 28.3%, significantly outpacing the global average for electronic manufacturing equipment [1][13] - The demand surge is driven by the intelligent upgrades in end-user industries such as new energy vehicles, consumer electronics, and smart home devices, particularly with the adoption of 800V high-voltage platforms and flat wire motor technologies [1][13] - The industry is expected to exceed 10 billion yuan by 2025, indicating a robust growth trajectory [1][13] Industry Overview - Wireless charging winding equipment is specialized automation equipment used to manufacture wireless charging coils, ensuring precision in winding, consistency, and electrical performance [2][3] - The equipment can be categorized based on winding technology (flat, three-dimensional, multi-station), automation level (fully automatic, semi-automatic), and application field (consumer electronics, industrial/automotive) [3][4] Industry Development Stages - The industry has evolved from relying on imported equipment (2010-2015) to achieving domestic substitution and forming an initial supply chain (2016-2018), followed by explosive growth driven by consumer electronics demand (2019-2022) [5][6] - Currently, the industry is in a high-end phase, focusing on breakthroughs in automotive-grade high-power winding technology and the localization of core components [5][6] Industry Chain - The industry chain consists of upstream suppliers of magnetic materials and precision conductors, midstream manufacturers like Luxshare Precision and Xinwei Communication, and downstream applications in mobile phones, wearables, and automotive electronics [7][9] - The demand for high-precision winding equipment is being propelled by the increasing wireless charging penetration in consumer electronics, with the market size expected to grow from 16.6 trillion yuan in 2018 to 19.8 trillion yuan in 2024, reflecting a compound annual growth rate of 3% [9][11] Market Segmentation - The consumer electronics sector currently dominates the demand for wireless charging winding equipment, accounting for 60% of the market share, driven by the upgrade of existing products and the emergence of new categories [15] - The new energy vehicle sector is rapidly growing, with an annual compound growth rate exceeding 40%, and is projected to account for over 28% of the market share for wireless charging winding equipment [15] Competitive Landscape - The industry exhibits a three-tier competitive structure: foreign companies dominate the high-end market, domestic leaders control the mid-to-high-end market, and numerous small enterprises compete in the low-end market [17][19] - Leading companies like Tianzhong Precision leverage differentiated technology and global production capabilities to establish competitive barriers [19][20] Future Trends - The industry is moving towards high precision, efficiency, and intelligence, with a focus on ±0.01mm precision control and AI integration for adaptive tension regulation [21][22] - The application scenarios are diversifying, with significant growth in the automotive and industrial sectors, driven by the demand for high-power and high-tension winding equipment [22][23] - Global competition is intensifying, with Chinese companies expanding internationally through localized production and green manufacturing practices [23]