Core Viewpoint - The company, Kaipu Testing (003008.SZ), announced plans for share reductions by its executives, indicating potential changes in insider ownership and market sentiment [1] Executive Shareholding Summary - Vice President Wang Wei currently holds 1,584,907 shares, representing 1.52% of the total share capital, and plans to reduce his holdings by up to 396,000 shares (0.38% of total share capital) within three months starting from September 30, 2025 [1] - Vice President Song Xia currently holds 1,194,907 shares, representing 1.15% of the total share capital, and plans to reduce her holdings by up to 298,000 shares (0.29% of total share capital) within the same three-month period [1]

证券代码：003008 证券简称：开普检测 公告编号：2025-042 许昌开普检测研究院股份有限公司 关于公司部分高级管理人员减持股份计划的 预披露公告 公司高级管理人员王伟先生、宋霞女士保证向本公司提供的信息内容真实、准确、完整， 没有虚假记载、误导性陈述或重大遗漏。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一致。 特别提示： 许昌开普检测研究院股份有限公司（以下简称"公司"）副总经理王伟先生 现持有本公司股份 1,584,907 股（占本公司总股本比例 1.52%），其计划自本公 告披露之日起 15 个交易日后的 3 个月内（2025 年 9 月 30 日至 2025 年 12 月 29 日），以集中竞价方式减持公司股份不超过 396,000 股（占公司总股本比例 0.38%， 不超过其持有公司股份总数的 25%）。 | 序号 | 股东姓名 | 持有公司的股份总数 | 占公司总股本的 | 股东性质及任职 | | --- | --- | --- | --- | --- | | | | （股） | 比例（%） | | | 1 | 王伟 | 1,584,907 | 1.52% | 副总经理 ...

Group 1 - The company, Kaipu Testing, has implemented three dividend distributions by 2025, including dividends from the Q3 2024 report, the 2024 annual report, and the 2025 mid-year report [2] - The company plans to continue its dividend return strategy as outlined, aiming to enhance long-term returns for shareholders [2]

Core Insights - The company, Kaipu Testing, reported that as of June 30, 2025, the number of shareholders reached 10,094 [2] Company Summary - Kaipu Testing engaged with investors on August 28, providing updates on shareholder numbers [2] - The reported figure of 10,094 shareholders indicates a potential increase in investor interest and engagement [2]

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、完整，没有虚假记载、误导 性陈述或重大遗漏。 特别提示： 1.本次股东大会未出现否决提案的情形。 2.本次股东大会不涉及变更以往股东大会已通过的决议。 一、会议召开和出席情况 1、会议召开时间： （1）现场会议时间：2025 年 8 月 26 日（星期二）下午 14:00 （2）网络投票时间：2025 年 8 月 26 日 证券代码：003008 证券简称：开普检测 公告编号：2025-041 许昌开普检测研究院股份有限公司 通过深圳证券交易所交易系统投票的具体时间为：2025 年 8 月 26 日 9:15-9:25，9:30-11:30 和 13:00-15:00。 通过深圳证券交易所互联网投票系统（http://wltp.cninfo.com.cn）投票的具 体时间为：2025 年 8 月 26 日 9:15 至 15:00 期间的任意时间。 2、现场会议召开地点：河南省许昌市尚德路 17 号公司 1 号会议室。 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、会议主持人：董 ...

北京市金杜律师事务所上海分所 关于许昌开普检测研究院股份有限公司 2025 年第一次临时股东大会 之法律意见书 致：许昌开普检测研究院股份有限公司 北京市金杜律师事务所上海分所（以下简称本所）接受许昌开普检测研究院 股份有限公司（以下简称公司）委托，根据《中华人民共和国证券法》（以下简 称《证券法》）、《中华人民共和国公司法》（以下简称《公司法》）、中国证 券监督管理委员会《上市公司股东会规则》（以下简称《股东会规则》）等中华 人民共和国境内（以下简称中国境内，为本法律意见书之目的，不包括中国香港 特别行政区、中国澳门特别行政区和中国台湾省）现行有效的法律、行政法规、 规章和规范性文件和现行有效的《许昌开普检测研究院股份有限公司章程》（以 下简称《公司章程》）有关规定，指派律师出席并见证公司于 2025 年 8 月 26 日 召开的公司 2025 年第一次临时股东大会（以下简称本次股东大会），并就本次 股东大会相关事项出具本法律意见书。 为出具本法律意见书，本所律师审查了公司提供的以下文件，包括但不限于： 1. 经公司 2023 年年度股东大会审议通过的《公司章程》； 2. 公司 2025 年 8 月 11 ...

Core Points - The major shareholder and chairman of the company, Mr. Yao Zhiqing, plans to reduce his shareholding by up to 1,040,000 shares, which represents 1% of the total share capital and 25% of his holdings, within three months starting from September 12, 2025 [2][3] - Mr. Yao currently holds 17,433,961 shares, accounting for 16.76% of the company's total share capital [2][3] - The reduction will be conducted through centralized bidding, and the specific selling price will be determined based on market conditions at the time of the sale [2][3] Shareholder Commitment - Mr. Yao has made commitments regarding the lock-up period and share transfer restrictions, including not transferring shares for 36 months post-listing and adhering to specific pricing conditions for any future sales [6][7] - He has confirmed that he has complied with these commitments up to the date of the announcement, with no violations reported [7] Regulatory Compliance - The company will adhere to relevant regulations and guidelines regarding shareholder share reductions, ensuring proper disclosure and compliance with the Shenzhen Stock Exchange rules [8][9]

Core Viewpoint - The report highlights the steady growth of Kaipu Testing's performance, driven by both testing services and equipment sales, with a recommendation to maintain an "accumulate" rating for the company [1][7]. Financial Performance - In the first half of 2025, the company reported revenue of 111 million yuan, an increase of 3.2% year-on-year; net profit attributable to shareholders was 40.79 million yuan, up 3.7% year-on-year; and net profit after deducting non-recurring gains and losses was 38.87 million yuan, rising 14.2% year-on-year [2][3]. - The second quarter saw a slight decline in revenue to 63.13 million yuan, down 0.1% year-on-year, and a net profit of 24.55 million yuan, down 6.3% year-on-year [2]. Business Segmentation - Testing services generated revenue of 105 million yuan, a decrease of 2.02% year-on-year, accounting for 94.15% of total revenue. Notably, revenue from power system protection and control equipment testing was 80 million yuan, up 7.23% year-on-year, while revenue from electric vehicle charging and swapping system testing fell by 55.33% to 8 million yuan [3][5]. - Revenue from testing equipment reached 5.12 million yuan, driven by a surge in customized demand from clients, leading to significant batch deliveries [3][6]. Profitability - The company's gross margin stood at 68.9%, a decrease of 1.72 percentage points year-on-year, while the net margin increased to 36.64%, up 2.18 percentage points year-on-year, primarily due to a significant reduction in income tax [4]. - The gross margin for the power system protection and control equipment testing business was 66.26%, down 1.28 percentage points year-on-year, while the electric vehicle charging system testing margin was 72.08%, down 5.47 percentage points [4]. Industry Outlook - The power equipment testing sector is characterized as a "long slope and thick snow" market, indicating stable growth potential due to low cyclicality and increasing economic and safety demands [5]. - The company is well-positioned in the power secondary equipment testing market, which has a relatively low concentration of leading firms, suggesting ample growth opportunities [5]. Future Projections - Revenue forecasts for the company are projected at 259 million yuan, 305 million yuan, and 361 million yuan for 2025, 2026, and 2027 respectively, with net profits expected to be 101 million yuan, 123 million yuan, and 149 million yuan for the same years [7].

Investment Rating - The report maintains an "Accumulate" rating for the company, indicating a projected increase of 5% to 15% relative to the CSI 300 index over the next six months [30]. Core Insights - The company, Kaipu Testing (003008), reported a steady revenue growth of 3.2% year-on-year, with total revenue reaching 111 million yuan in the first half of 2025. The net profit attributable to shareholders increased by 3.7% to 40.79 million yuan, while the non-recurring net profit rose by 14.2% to 38.87 million yuan [7][8]. - The company's gross margin stood at 68.9%, reflecting a slight decline of 1.72 percentage points year-on-year, while the net profit margin improved by 2.18 percentage points to 36.64% due to a significant decrease in income tax [9]. - The report highlights the dual growth drivers of testing services and equipment sales, with the testing services segment generating 94.15% of total revenue, although it experienced a slight decline of 2.02% year-on-year [11]. Financial Performance - For the first half of 2025, the company achieved a net cash flow from operating activities of 51.32 million yuan, marking a 2.7% increase year-on-year [7]. - The company’s earnings per share (EPS) for the first half of 2025 was reported at 0.3922 yuan [7]. - The revenue from testing equipment sales surged significantly due to increased customer demand for customized solutions, contributing to the company's second growth point [11][13]. Business Segmentation - The revenue from the power system protection and control equipment testing services was 80 million yuan, showing a year-on-year growth of 7.23%, while the revenue from new energy control equipment testing services increased by 17.74% to 17 million yuan. However, the revenue from electric vehicle charging and swapping system testing saw a significant decline of 55.33% [11]. - The report emphasizes the company's strong position in the power system secondary equipment testing market, which is characterized by low cyclicality and substantial growth potential due to increasing economic demands and power safety requirements [13]. Future Projections - The report forecasts the company's revenue to reach 259 million yuan in 2025, with net profits projected at 101 million yuan, reflecting a growth rate of 16.86% and 17.85% respectively [15]. - The estimated price-to-earnings (PE) ratios for 2025, 2026, and 2027 are projected to be 24.01X, 19.71X, and 16.25X, respectively, indicating a favorable valuation trend [14].

Financial Performance - The company achieved a revenue of 111 million yuan in the first half of 2025, representing a year-on-year growth of 3.23% [2] - The net profit attributable to shareholders was 40.79 million yuan, with a year-on-year increase of 3.73%, indicating stable growth [2] - Revenue from electric vehicle charging and swapping system testing decreased to 8.12 million yuan due to significant changes in industry policies [2][3] Business Development - Zhuhai Kaipu, a wholly-owned subsidiary, focuses on expanding testing services in the smart distribution network sector and exploring new markets [4] - The subsidiary has developed testing capabilities for electronic and electrical equipment, contributing to new business areas [4][5] - The brand influence of Zhuhai Kaipu is still in the accumulation phase, with ongoing efforts to enhance market presence and revenue [5] Regulatory Impact - The company has been designated as a CCC certification laboratory for electric vehicle power supply equipment, which introduces competitive pressure from other laboratories [6] - The new regulations state that from March 2025, only certified equipment can be sold or used, which may positively impact the company's business in mandatory testing services [6] Future Strategy - The core business is centered around testing services for new power system equipment, aligned with the national energy bureau's development blueprint [7] - The company aims to maintain industry leadership by participating in the drafting of new standards and developing innovative testing technologies [7] - There are currently no plans for stock incentive programs, but any future significant matters will be disclosed in accordance with regulations [7]