Core Viewpoint - The stock of Shuanglin Co., Ltd. has experienced a significant increase of 92.76% year-to-date, but has recently seen a decline in the last five trading days by 6.93% [1] Financial Performance - For the period from January to September 2025, Shuanglin Co., Ltd. achieved a revenue of 3.855 billion yuan, representing a year-on-year growth of 19.12% [2] - The net profit attributable to shareholders for the same period was 402 million yuan, reflecting a year-on-year increase of 9.77% [2] Shareholder Information - As of September 30, 2025, the number of shareholders for Shuanglin Co., Ltd. was 80,200, a decrease of 12.17% compared to the previous period [2] - The average number of circulating shares per shareholder increased by 14.75% to 6,876 shares [2] Dividend Distribution - Since its A-share listing, Shuanglin Co., Ltd. has distributed a total of 766 million yuan in dividends, with 119 million yuan distributed over the last three years [3] Major Shareholders - As of September 30, 2025, the third-largest circulating shareholder was Yongying Advanced Manufacturing Mixed Fund A, holding 4.8313 million shares, a decrease of 788,880 shares from the previous period [3] - Hong Kong Central Clearing Limited was the fourth-largest shareholder, holding 4.7649 million shares, an increase of 290,300 shares [3] - New entrants among the top ten circulating shareholders include Huaxia CSI 1000 ETF and GF CSI 1000 ETF, holding 1.8292 million shares and 1.4198 million shares respectively [3]

Market Overview - The Shanghai Composite Index closed at 3949.83 points, with a decline of 0.56% [1] - The total trading volume of A-shares reached 1,296.161 billion yuan [1] Technical Analysis - A total of 112 A-shares experienced a death cross, where the 5-day moving average fell below the 10-day moving average [1] - Notable stocks with significant distance between their 5-day and 10-day moving averages include: - Shanshui Bide (300844) with a distance of -1.40% - Yingboer (300681) with a distance of -1.28% - Yake Technology (002409) with a distance of -1.06% [1] Individual Stock Performance - Shanshui Bide (300844) saw a decline of 6.62% with a trading turnover rate of 3.31% [1] - Yingboer (300681) decreased by 2.30% with a turnover rate of 2.45% [1] - Yake Technology (002409) fell by 0.20% with a turnover rate of 2.33% [1] - Other notable declines include: - Bohai Automobile (600960) down by 3.53% - Western Gold (601069) down by 2.80% [1] Additional Stock Movements - Stocks such as Muyu (002714) and Qinglong (002457) showed slight increases of 0.80% and -3.28% respectively [2] - The stock performance of various companies indicates a mixed sentiment in the market, with several stocks experiencing declines while a few managed to gain [2]

Core Viewpoint - Yushu Technology Co., Ltd. plans to submit its IPO application in Q4 2025, marking a significant milestone as the first profitable humanoid robot company globally, which is expected to attract attention to the entire humanoid robot industry chain [1] Shareholding/Investment - Juxing Technology holds shares in Yushu Technology through its subsidiary, ensuring clear equity investment and direct asset appreciation [3] - Jing Shan Light Machine participated in Yushu's early investment through an industrial investment fund, though specific shareholding ratios are not disclosed [3] - Shoukai Co., Ltd. indirectly holds approximately 0.85% of shares through the Jinshi Growth Fund, indicating a relatively high indirect shareholding among A-share listed companies [3] - Jinfat Technology holds 4.77% indirectly through the Jinshi Growth Fund and is a leading chemical materials company with over 60% market share in robot shell materials, reporting a 35.5% revenue growth in H1 2025 [3] - Wolong Electric Drive holds 0.1525% indirectly and has seen a 36.76% net profit increase in H1 2025, with a gross margin of 28% [3] - Other companies like Jingxing Paper and Rongsheng Environmental Protection hold minor indirect stakes, primarily for financial investment [3][4] Core Suppliers - Zhongdali De is the core supplier of planetary reducers, with orders locked at 3.2 billion yuan for 2025, accounting for 36% of Yushu's costs [6] - Changsheng Bearings exclusively supplies self-lubricating bearings with over 80% penetration, expecting 8% of its revenue from robot business in 2025 [6] - Aobi Zhongguang is the sole supplier of 3D vision modules, with a supply ratio of 72% and a doubling of revenue in H1 2025 [6] - Lide Technology provides flexible tactile sensors, breaking the monopoly of Korean companies [6] - Weilan Lithium Core is the core supplier of lithium batteries for Yushu, with an expected 60% supply ratio in 2024 [6] Technical Cooperation Partners - iFLYTEK collaborates on developing the "robot brain," with a leading position in voice recognition and a planned R&D investment of 2.392 billion yuan in 2025 [8] - Lingyun Optical is jointly developing the FZMotion motion capture system, achieving high precision and expected stock price growth of over 200% in 2025 [8] - Zhongke Chuangda provides motion control algorithms and holds 1.86% of shares, with strong adaptability in edge computing modules [8] - Other partners include Shuanglin Co., Ltd. and Shengtong Co., Ltd., focusing on various components and educational collaborations in robotics [8][9]

2025 年限制性股票激励计划 首次授予相关事项 之 独立财务顾问报告 证券简称：双林股份 证券代码：300100 上海荣正企业咨询服务（集团）股份有限公司 关于 双林股份有限公司 | 释义项 | | 释义内容 | | --- | --- | --- | | 双林股份、本公司、公司 | 指 | 双林股份有限公司 | | 激励计划、本激励计划、 | 指 | 双林股份有限公司 2025 年限制性股票激励计划（草案） | | 本计划 | | | | 股东会 | 指 | 本公司股东会 | | 董事会 | 指 | 本公司董事会 | | 薪酬与考核委员会 | 指 | 本公司薪酬与考核委员会 | | 限制性股票、第二类限制 | 指 | 符合本激励计划授予条件的激励对象，在满足相应归属条件 | | 性股票 | | 后分次获得并登记的本公司股票 | | 激励对象 | 指 | 根据本激励计划获得限制性股票的公司及子公司高级管理 | | | | 人员、核心管理人员及核心骨干人员 | | 授予日 | 指 | 公司向激励对象授予限制性股票的日期 | | 授予价格 | 指 | 公司授予激励对象每一股限制性股票的价格 | | 有效期 | ...

根据《中华人民共和国公司法》（以下简称"《公司法》"）《中华人民共和国 证券法》《深圳证券交易所创业板股票上市规则》（以下简称"《上市规则》"）和 《深圳证券交易所创业板上市公司自律监管指南第 1 号——业务办理》《上市公 司股权激励管理办法》（以下简称"《管理办法》"）及《公司章程》等法律法规、 规范性文件的规定，双林股份有限公司（以下简称"公司"）董事会薪酬与考核 委员会对公司《2025 年限制性股票激励计划（草案）》首次授予激励对象名单进 行了核实并发表意见如下： 1、列入公司本次激励计划首次授予激励对象名单的人员具备《公司法》等 法律法规和其他规范性文件及《公司章程》规定的任职资格。 2、本次拟激励对象不存在不得成为激励对象的下列情形： （1）最近 12 个月内被证券交易所认定为不适当人选； 双林股份有限公司 董事会薪酬与考核委员会关于公司 2025 年限制性股票激励计划 首次授予的激励对象名单的核查意见 （2）最近 12 个月内被中国证监会及其派出机构认定为不适当人选； （3）最近 12 个月内因重大违法违规行为被中国证监会及其派出机构行政处 罚或者采取市场禁入措施； （4）具有《公司法》规定的不得 ...

一、限制性股票激励计划的分配情况 双林股份有限公司 2025 年限制性股票激励计划首次授予激励对象名单 （授予日） 1、本计划的激励对象不包括独立董事。 2、任何一名激励对象通过全部在有效期内的股权激励计划获授的本公司股票数量累计 不超过公司股本总额的 1%。公司全部有效期内的激励计划所涉及的标的股票总数累计不超 过股权激励计划提交股东会审议时公司股本总额的 20%。 3、预留激励对象的确定依据参照首次授予的依据，公司应当在本计划经股东会审议通 过后 12 个月内明确预留限制性股票的授予对象，经董事会提出、董事会薪酬与考核委员会 发表明确意见、律师发表专业意见并出具法律意见书后，公司按要求及时准确披露激励对象 相关信息。超过 12 个月未明确激励对象的，预留权益失效。 双林股份有限公司 | 姓名 | 职务 | 获授的限制性股 | 占本次激励计 | 占本激励计划 公告之日公司 | | --- | --- | --- | --- | --- | | | | 票数量（万股） | 划拟授予权益 总数的比例 | 总股本的比例 | | 武淮颖 | 财务负责人（财务总监） | 30.00 | 15.48% | 0.05% ...

证券代码：300100 证券简称：双林股份 公告编号：2025-109 双林股份有限公司 关于向 2025 年限制性股票激励计划激励对象首次授予 限制性股票的公告 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。 重要内容提示： 《双林股份有限公司 2025 年限制性股票激励计划（草案）》（以下简称"《激 励计划》"或"本激励计划"）规定的限制性股票授予条件已经成就，根据双林股 份有限公司（以下简称"公司"）2025 年第五次临时股东会的授权，公司于 2025 年 11 月 12 日召开第七届董事会第二十四次会议，审议通过了《关于向 2025 年 限制性股票激励计划激励对象首次授予限制性股票的议案》，现将有关事项说明 如下： 一、股权激励计划简述及已履行的相关审批程序 （一）限制性股票激励计划简述 2025 年 10 月 28 日公司召开 2025 年第五次临时股东会，审议通过了《关于 <双林股份有限公司 2025 年限制性股票激励计划（草案）>及其摘要的议案》等 相关议案，公司 2025 年限制性股票激励计划的主要内容如下： 1、标的股票种类：激励计划拟授予激 ...

股票代码：300100 股票简称：双林股份 公告编号：2025-108 双林股份有限公司 经审议，董事会认为：根据《上市公司股权激励管理办法》、公司《2025 年 限制性股票激励计划（草案）》的相关规定以及公司 2025 年第五次临时股东会的 授权，董事会认为本次激励计划规定的首次授予条件已经成就，同意以 2025 年 11 月 12 日为首次授予日，以 23.36 元/股的授予价格向激励对象共计 15 人授予 限制性股票 155.00 万股。 具体内容详见公司同日在巨潮资讯网刊登的《关于向 2025 年限制性股票激 励计划激励对象首次授予限制性股票的公告》。 本议案已经公司董事会薪酬与考核委员会审议通过。 表决结果：同意 9 票；反对 0 票；弃权 0 票。 特此公告！ 第七届董事会第二十四次会议决议公告 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。 一、董事会会议召开情况 双林股份有限公司（以下简称"公司"）第七届董事会第二十四次会议通知 于 2025 年 11 月 4 日以电子邮件和电话方式通知了各位董事，董事会于 2025 年 11 月 12 日以现 ...

上海锦天城（杭州）律师事务所 关于双林股份有限公司 2025 年限制性股票激励计划首次授予事项的 法律意见书 地址：浙江省杭州市上城区富春路 308 号华成国际发展大厦 11/12 层 电话：571-89838088 传真：571-89838099 邮编：310020 上海锦天城（杭州）律师事务所 法律意见书 上海锦天城（杭州）律师事务所 2025 年限制性股票激励计划首次授予事项的 法律意见书 上锦杭【2025】法意字第41112号 关于双林股份有限公司 致：双林股份有限公司 上海锦天城（杭州）律师事务所（以下简称"锦天城"或"本所"）接受双林 股份有限公司（以下简称"公司"）的委托，担任公司 2025 年限制性股票激励计 划（以下简称"本次激励计划"）的法律顾问，根据《中华人民共和国公司法》（以 下简称"《公司法》"）、《中华人民共和国证券法》（以下简称"《证券法》"）、 《上市公司股权激励管理办法》（以下简称"《管理办法》"）、《深圳证券交易 所创业板股票上市规则》、《深圳证券交易所创业板上市公司自律监管指南第 1 号—业务办理》（以下简称"《监管指南第 1 号》"）等有关法律法规的规定，按 照律师行业 ...

Core Viewpoint - On November 11, Shuanglin Co., Ltd. experienced a stock price increase of 4.12%, with a trading volume of 894 million yuan, indicating positive market sentiment towards the company [1]. Financing Summary - On the same day, Shuanglin Co., Ltd. recorded a financing purchase amount of 94.32 million yuan, with a total financing balance of 878 million yuan, accounting for 3.73% of its market capitalization [2]. - The company had a net financing outflow of 3.89 million yuan, with financing repayments totaling 98.21 million yuan [1][2]. Shareholder and Institutional Holdings - As of September 30, 2025, the number of shareholders for Shuanglin Co., Ltd. was 80,200, a decrease of 12.17% from the previous period, while the average circulating shares per person increased by 14.75% to 6,876 shares [2]. - Among the top ten circulating shareholders, Yongying Advanced Manufacturing Mixed Fund A ranked third with 4.83 million shares, a decrease of 7.89 million shares from the previous period [3]. Business Performance - For the period from January to September 2025, Shuanglin Co., Ltd. achieved a revenue of 3.855 billion yuan, representing a year-on-year growth of 19.12%, and a net profit attributable to shareholders of 402 million yuan, up 9.77% year-on-year [2]. - The company's main business revenue composition includes: interior and exterior trim and electromechanical components (53.23%), hub bearing components (24.38%), and new energy electric drive (17.45%) [2]. Dividend Information - Since its A-share listing, Shuanglin Co., Ltd. has distributed a total of 766 million yuan in dividends, with 119 million yuan distributed over the past three years [2].