Core Viewpoint - In recent years, Huichuan Technology has successfully implemented its "dual king" strategy focusing on new energy vehicles and industrial automation, leading to significant growth and a market capitalization exceeding 200 billion yuan. The company aims to continue its growth trajectory by exploring new areas such as digital energy, intelligent robotics, and low-altitude economy [1][2][3]. Group 1: Growth Strategy - Huichuan Technology plans to maintain a strong growth rate over the next five years, focusing on new productivity in the form of new industries and new capacities [2]. - The company identifies three key areas for future growth: digital energy, intelligent robotics, and low-altitude economy [2][3]. - Digital energy will leverage advancements in power electronics and digital technologies, which are already strengths for Huichuan Technology [2]. - The intelligent robotics market is expected to expand significantly, with the company committed to developing this sector further [2]. - The low-altitude economy is anticipated to experience rapid growth, with a focus on safety through integrated flight control and power systems [3]. Group 2: High-end Manufacturing - Huichuan Technology acknowledges that while China's manufacturing sector is large, it still lags in quality compared to global leaders, estimating that top Chinese companies score around 80 to 85 out of 100 in comparison to the best global products [4][5]. - The company emphasizes the need for collaborative innovation to bridge the gap and enhance the quality of Chinese manufacturing [5]. Group 3: Internationalization - Internationalization is a key strategic focus for Huichuan Technology, with plans to target both underdeveloped and traditional industrialized markets [8]. - The company believes in a "Global (for) Local" approach, utilizing global resources to benefit local markets and communities [9]. Group 4: Management Philosophy - Huichuan Technology prioritizes talent development, emphasizing the importance of nurturing middle management to drive organizational vitality [10][11]. - The company aims to create a sustainable legacy that transcends individual leadership, focusing on a socialized rather than family-based governance structure [13].

Core Viewpoint - The successful implementation of the "Double King" strategy by Huichuan Technology is attributed to the independent operation of its subsidiary, United Power, which has recently launched its IPO and achieved significant market performance [2][5]. Group 1: Company Strategy and Performance - United Power initiated its IPO on September 15, with an issue price of 12.48 yuan per share, raising 3.6 billion yuan, and saw its stock price surge by 147.6% on the first trading day, closing at 30.9 yuan, giving it a market capitalization exceeding 74 billion yuan [2][3]. - The "Double King" strategy, proposed in 2016, focuses on becoming a leader in both the new energy vehicle (NEV) components and industrial automation sectors, significantly boosting the company's performance in the NEV market [5][6]. - The NEV sales penetration rate in China increased from 1.8% in 2016 to over 40% by 2024, with expectations to exceed 50% by 2025, while the company's revenue grew over eightfold during the same period [6][9]. Group 2: Market Position and Competitive Advantage - United Power has established itself as a leading independent third-party automotive powertrain supplier, holding significant market shares in various NEV components, including a 10.1% share in electric motor controllers and an 11.3% share in stator installations [9][10]. - The company serves over 40 OEMs and has developed hundreds of power system solutions, leveraging modular design to reduce costs and enhance responsiveness to market demands [10][11]. - The competitive landscape is characterized by a dual-track model where independent suppliers and OEMs coexist, with United Power positioned as a flexible and scalable supplier capable of meeting diverse customer needs [10][12]. Group 3: Future Outlook and Innovation - The automotive industry is transitioning towards greater intelligence, with United Power aiming to lead in smart chassis technology and digitalization, which are seen as critical for future competitiveness [4][15]. - The company plans to innovate by integrating robotics principles into automotive design, focusing on advanced motion control and safety features [12][13]. - Predictions indicate that the global smart chassis market will exceed $80 billion by 2025, with a significant portion attributed to steer-by-wire technologies, highlighting the importance of innovation in this sector [15].

（文章来源：证券日报） 证券日报网讯 9月25日晚间，汇川技术发布公告称，根据相关规定，公司第二期长效激励持股计划第二 个锁定期已于2025年9月25日届满，对应解锁股份数量为163，845股。 ...

Market Overview - The Shanghai Composite Index fell by 0.01% on September 25, with 7 out of the 28 sectors rising, led by Media and Communication sectors with increases of 2.23% and 1.99% respectively. The Textile and Apparel, and Comprehensive sectors saw the largest declines of 1.45% and 1.30% respectively [1] Capital Flow Analysis - The main capital outflow from the two markets totaled 28.778 billion yuan, with 5 sectors experiencing net inflows. The Electric Equipment sector led with a net inflow of 3.916 billion yuan and a daily increase of 1.60%, followed by the Computer sector with a net inflow of 2.545 billion yuan and a daily increase of 1.55% [1] Mechanical Equipment Sector Performance - The Mechanical Equipment sector declined by 0.32%, with a net capital outflow of 2.832 billion yuan. Out of 530 stocks in this sector, 141 rose, 5 hit the daily limit, and 385 fell. There were 198 stocks with net capital inflows, with Huagong Technology leading at 1.245 billion yuan, followed by Yingweike and Hezhuan Intelligent with inflows of 528 million yuan and 276 million yuan respectively [2] Top Gainers in Mechanical Equipment Sector - The top gainers in the Mechanical Equipment sector included: - Huagong Technology: +10.00%, turnover rate 10.27%, net inflow 1.245 billion yuan - Yingweike: +7.94%, turnover rate 12.13%, net inflow 528 million yuan - Hezhuan Intelligent: +9.98%, turnover rate 6.30%, net inflow 276 million yuan [2] Top Losers in Mechanical Equipment Sector - The top losers in the Mechanical Equipment sector included: - Huichuan Technology: -0.49%, turnover rate 2.87%, net outflow 378 million yuan - Dongfang Precision: -2.70%, turnover rate 10.83%, net outflow 250 million yuan - Zhongkong Technology: -0.34%, turnover rate 3.27%, net outflow 238 million yuan [4]

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。 重要提示： 证券代码：300124 证券简称：汇川技术 公告编号：2025-064 深圳市汇川技术股份有限公司 关于第二期长效激励持股计划第二个锁定期届满 的提示性公告 1.第二个股份锁定期届满日期：2025 年 9 月 25 日 司出具的《证券过户登记确认书》，公司回购专用证券账户内的 655,381 股公司 股票已于 2023 年 9 月 25 日非交易过户至"深圳市汇川技术股份有限公司—第二 期长效激励持股计划"账户。具体内容详见公司于 2023 年 9 月 26 日刊登在巨潮 资讯网上的《关于第二期长效激励持股计划非交易过户完成的公告》。 依据《持股计划》相关规定，第二期长效激励持股计划第二个解锁期为自公 司公告最后一笔购买的标的股票过户至持股计划开立的证券账户名下之日起的 24 个月后，解锁股份数量为持股计划所持标的股票总数的 25%。截至 2025 年 9 月 25 日，第二期长效激励持股计划第二个锁定期已届满，对应解锁股份数量为 163,845 股。 二、第二期长效激励持股计划第二个解锁期的后续安排 ...

Group 1 - The core point of the article highlights the performance of the Double Innovation ETF (588300), which opened down by 0.75% at 0.932 yuan on September 25 [1] - Major holdings in the Double Innovation ETF include companies like CATL, which fell by 0.88%, SMIC down by 1.47%, and Mindray Medical down by 0.09% [1] - The ETF's performance benchmark is the CSI Science and Technology Innovation 50 Index, managed by China Merchants Fund Management Co., with a return of -6.22% since its inception on June 25, 2021, and a return of 23.84% over the past month [1] Group 2 - The article lists the performance of various stocks within the ETF, including Haiguang Information unchanged, Zhongji Xuchuang down by 1.77%, Xinyisheng down by 1.81%, and Huichuan Technology up by 0.78% [1] - The overall market sentiment appears to be cautious, as indicated by the mixed performance of the ETF's holdings [1]

Group 1 - The China Securities New Energy Vehicle Industry Index (930997) has seen a strong increase of 1.94% as of September 25, 2025, with notable gains from companies such as Dongsheng Technology (300073) up 9.05%, Yiwei Lithium Energy (300014) up 7.35%, and China Baowu Steel Group (000009) up 6.98% [1] - The New Energy Vehicle ETF (515700) has risen by 1.81%, marking its fourth consecutive increase, with the latest price reported at 2.41 yuan [1] - Over the past week, the New Energy Vehicle ETF has accumulated a rise of 2.77%, ranking it in the top half among comparable funds [1] Group 2 - As of August 29, 2025, the top ten weighted stocks in the China Securities New Energy Vehicle Industry Index include CATL (300750), Huichuan Technology (300124), BYD (002594), and others, collectively accounting for 54.55% of the index [2] - The weight and performance of the top stocks are as follows: CATL (4.60%, 9.80%), Huichuan Technology (-0.02%, 9.63%), BYD (1.49%, 9.10%), and others [3] Group 3 - The New Energy Vehicle ETF has several off-market connections, including Ping An China Securities New Energy Vehicle ETF Initiated Connection A (012698), C (012699), and E (024504) [5]

你还在谈论出口"新三样"吗？中国经济的新"新三样"已经来了！最近大家有没有注意到，A股流传起 了"纪联海""易中天"这样的代码暗语，北交所机器人概念股年内翻倍，恒瑞医药市值逼近5000亿……这 些看似分散的市场热点，背后其实串联着一条清晰的主线。 在近期的一次重要发布会上，证监会主席吴清透露了一个关键信号：A股科技板块市值占比已经突破 1/4，超越了金融和地产的总和！ 但热潮之下，中国的新"新三样"到底处于什么位置？答案是：整体正从"并跑"向"领跑"迈进。 机器人进展最快，已进入全球第一梯队。产业链完整，市场全球最大，零部件国产化不断突破，但高端 伺服电机等核心零部件仍然需要进口。 这信号再明显不过了：机器人、人工智能和创新药正接过经济增长的接力棒，成为中国经济高质量发展 的新"新三样"！今天，我们就来聊聊，这场关乎国运的产业跃迁背后，究竟藏着怎样的逻辑与机遇。 我们先回答一个核心问题：新"新三样"为什么是它们？为什么是现在？ 这得从国内国际两个大局来看。国际上，现在科技就是最硬的拳头。机器人是智能制造的根基，AI是 千行百业的"智慧大脑"，创新药则是生命科学的价值高地——这三者，是任何强国都要争的战略要地。 ...

你还在谈论出口"新三样"吗？中国经济的新"新三样"已经来了！最近大家有没有注意到，A股 流传起了"纪联海""易中天"这样的代码暗语，北交所机器人概念股年内翻倍，恒瑞医药市值逼 近5000亿……这些看似分散的市场热点，背后其实串联着一条清晰的主线。 在近期的一次重要发布会上，证监会主席吴清透露了一个关键信号：A股科技板块市值占比已 经突破1/4，超越了金融和地产的总和！ 这信号再明显不过了： 机器人、人工智能和创新药正接过经济增长的接力棒，成为中国经济 高质量发展的新"新三样" ！今天，我们就来聊聊，这场关乎国运的产业跃迁背后，究竟藏着 怎样的逻辑与机遇。 我们先回答一个核心问题：新"新三样"为什么是它们？为什么是现在？ 机器人领域，特别是人形机器人，被很多人看作是继电脑、手机、新能源车之后，下一个可能 改变世界的智能终端。A股龙头汇川技术市值超2000亿，三协电机首日涨幅惊人地超过 785%，宇树科技、智元机器人这些还没上市的"潜力股"也成为了资本追逐的"香饽饽"。 AI更不用说了，市值千亿以上的公司已有好几家，"纪联海"，寒武纪、工业富联、海光信息， 搞的是AI算力芯片和基础设施这块的硬骨头，今年上半年订单 ...

Core Viewpoint - On September 24, Huichuan Technology's stock rose by 4.52%, with a trading volume of 6.172 billion yuan, indicating strong market interest and activity in the company's shares [1]. Financing and Trading Activity - On the same day, Huichuan Technology had a financing purchase amount of 825 million yuan, with a repayment of 647 million yuan, resulting in a net financing purchase of 177 million yuan. The total financing and securities balance reached 4.107 billion yuan [1]. - The financing balance of Huichuan Technology was 4.091 billion yuan, accounting for 1.76% of its circulating market value, which is above the 90th percentile of the past year, indicating a high level of financing activity [1]. - In terms of securities lending, 9,800 shares were repaid, while 14,500 shares were sold, amounting to 1.2518 million yuan at the closing price. The remaining securities lending volume was 190,400 shares, with a balance of 16.4329 million yuan, also above the 70th percentile of the past year [1]. Company Overview - Huichuan Technology, established on April 10, 2003, and listed on September 28, 2010, is headquartered in Longhua District, Shenzhen, Guangdong Province. The company specializes in providing core components for industrial automation, including frequency converters, servo systems, PLC/HMI, high-performance motors, sensors, machine vision, and industrial robots. It also supplies electric drive and power systems for the new energy vehicle industry and traction and control systems for the rail transit sector [2]. - The revenue composition of Huichuan Technology includes 45.18% from new energy vehicles and rail transit, 42.94% from general automation, 11.25% from smart elevator electrical systems, and 0.64% from other sources [2]. Financial Performance - For the first half of 2025, Huichuan Technology reported a revenue of 20.509 billion yuan, representing a year-on-year growth of 26.73%. The net profit attributable to shareholders was 2.968 billion yuan, with a year-on-year increase of 40.15% [2]. Dividend Distribution - Since its A-share listing, Huichuan Technology has distributed a total of 7.945 billion yuan in dividends, with 3.267 billion yuan distributed over the past three years [3]. Shareholder Structure - As of June 30, 2025, Huichuan Technology had 151,800 shareholders, an increase of 6.41% from the previous period. The average number of circulating shares per shareholder was 15,588, a decrease of 6.01% [2][3]. - The largest circulating shareholder is Hong Kong Central Clearing Limited, holding 474 million shares, a decrease of 41.497 million shares from the previous period. E Fund's ChiNext ETF is the fifth-largest shareholder with 49.3616 million shares, an increase of 1.5543 million shares [3].