新疆机械研究院股份有限公司 董事会议事规则 （2025 年 8 月） 第一章 总 则 第一条 为进一步明确新疆机械研究院股份有限公司（以下简称"公司"或"本 公司"）董事会的职责权限，规范董事会议事方式及决策程序，提高董事会规范 运作和科学决策水平，充分发挥董事会的经营决策中心的作用，公司根据《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》《上 市公司治理准则》《上市公司章程指引》《深圳证券交易所创业板股票上市规则》 《深圳证券交易所上市公司自律监管指引第 2 号——创业板上市公司规范运作》 及其他法律法规、规范性文件以及《新疆机械研究院股份有限公司章程》（以下 简称《公司章程》）的有关规定，结合公司实际情况，特制定本议事规则。 第二条 公司设董事会，董事会由股东会选举产生，对股东会负责，并依据 国家有关法律法规和《公司章程》的有关规定行使职权。董事会会议是董事会议 事的主要形式，董事按规定参加董事会会议是履行董事职责的基本方式。 第三条 董事会是公司经营管理的决策机构，维护公司和全体股东的利益， 在《公司章程》和股东会的授权范围内，负责公司发展目标和重大经营活动等事 项的决策。 第 ...

新疆机械研究院股份有限公司 董事会薪酬与考核委员会工作细则 （2025 年 8 月） 第一章 总 则 第一条 为进一步建立健全新疆机械研究院股份有限公司（以下简称"公司"） 董事（非独立董事）及高级管理人员的考核和薪酬管理制度，完善公司法人治理 结构，根据《中华人民共和国公司法》《上市公司治理准则》《上市公司独立董 事管理办法》《新疆机械研究院股份有限公司章程》（以下简称"公司章程"）及 其他有关规定，公司特设立董事会薪酬与考核委员会，并制定本工作细则。 第二条 薪酬与考核委员会是董事会按照股东会决议设立的董事会专门工作 机构，主要负责制定公司董事及高级管理人员的考核标准并进行考核；负责制定、 审查公司董事及高级管理人员的薪酬政策与方案，对董事会负责。 第三条 本工作细则所称董事是指在本公司支取薪酬的董事长、副董事长、 董事，高级管理人员是指董事会聘任的总经理、副总经理、财务总监、董事会秘 书及其他管理人员。 第二章 人员组成 第四条 薪酬与考核委员会委员由五名董事组成，其中，独立董事至少三名。 第五条 薪酬与考核委员会委员由董事长、二分之一以上独立董事或者全体 董事的三分之一以上提名，并由董事会选举产生。 ...

Financial Performance - The company's operating revenue for the first half of 2025 was ¥132,092,454.16, representing a 25.78% increase compared to ¥105,021,134.70 in the same period last year[18]. - The net loss attributable to shareholders was ¥168,407,848.68, which is a 23.15% increase from a loss of ¥136,745,788.72 in the previous year[18]. - The net cash flow from operating activities was -¥62,653,938.93, a significant decline of 181.64% compared to ¥76,739,971.96 in the same period last year[18]. - Total assets at the end of the reporting period were ¥2,445,634,865.80, down 2.27% from ¥2,502,458,177.84 at the end of the previous year[18]. - The net asset attributable to shareholders was -¥434,304,387.87, reflecting a 60.13% decrease from -¥271,222,109.30 at the end of the previous year[18]. - Basic and diluted earnings per share were both -¥0.1126, a decrease of 23.46% from -¥0.0912 in the same period last year[18]. - Operating costs increased to CNY 115,691,207.13, a rise of 9.87% from CNY 105,295,672.30[44]. - The net cash flow from operating activities was negative at CNY -62,653,938.93, a decline of 181.64% compared to CNY 76,739,971.96 in the previous year[44]. - The company reported a significant decrease in income tax expenses, down 66.11% to CNY 1,009,652.90 from CNY 2,979,434.84[44]. - The company reported a net loss of 168.41 million yuan for the first half of 2025, with current liabilities exceeding current assets by 1.1557946 billion yuan, resulting in a debt-to-asset ratio of 116.50%[180]. Research and Development - The company has invested a total of 145 million yuan in R&D since the 14th Five-Year Plan, accounting for 5.5% of sales revenue[34]. - In 2024, the company plans to invest over 10 million yuan to build an electric hydraulic test platform, expected to be operational by August[34]. - The company has launched 8 new models in recent years, with new models improving efficiency by 30% compared to previous generations[34]. - Research and development expenses decreased by 6.28% to CNY 13,435,816.62 from CNY 14,335,411.68[44]. - The company plans to increase R&D investment to at least 5% of revenue annually, focusing on technological innovation and collaboration with research institutions[71]. Market and Product Development - The aerospace segment continues to focus on traditional core businesses such as "aerospace vehicle structural components" and "engine and gas turbine structural components," while expanding into emerging sectors like "civil aviation" and "commercial space"[24]. - The company has seen a significant increase in the proportion of emerging businesses within its total business scale, indicating a trend towards these new sectors becoming the main business focus[25]. - The agricultural machinery segment has developed advanced products such as self-propelled corn harvesters, achieving a market share of over 75% for the pepper harvester, which is a domestic innovation[30]. - The company is recognized as a key "specialized, refined, distinctive, and innovative" enterprise and has established itself as a leader in high-end agricultural machinery in China[30]. - The company is actively integrating new capabilities in assembly and thermal surface treatment into new product services, enhancing service value for customers[25]. - The company is focused on expanding its market presence through strategic partnerships and acquisitions in the aerospace industry[60]. - The company plans to continue investing in R&D to launch new products and upgrade existing ones to increase market share and product value in the agricultural machinery sector[90]. Financial Stability and Debt Management - The company is actively managing its working capital to avoid cash flow crises, including strengthening accounts receivable collection and establishing cash flow warning mechanisms[92]. - The company is cooperating with creditors and restructuring agencies to address its debt crisis and mitigate delisting risks[93]. - The company has outstanding financial institution loans amounting to 842.15 million yuan that are due and unpaid[180]. - The company is actively seeking debt restructuring measures to improve its ability to continue operations, although there remains significant uncertainty regarding its ongoing viability[180]. - The company has implemented measures to manage its debt and improve financial stability amid operational challenges[59]. Shareholder and Equity Information - The company plans not to distribute cash dividends or issue bonus shares[5]. - The total number of shares outstanding decreased from 1,501,965,923 to 1,495,645,923 shares following the cancellation[81]. - The largest shareholder, Horgos Huakong Venture Capital Co., Ltd., holds 128,148,293 shares, representing 8.53% of total shares[131]. - The company has not reported any changes in the shareholding of directors, supervisors, and senior management during the reporting period[133]. - The company has maintained a consistent shareholder structure with no significant changes reported in the latest period[133]. Legal and Compliance Issues - The company is involved in a significant lawsuit with a claim amount of ¥24,611.52 million, which has not formed a provision for liabilities[95]. - Another lawsuit involves a claim amount of ¥204,723.93 million, also without a provision for liabilities, with the Supreme People's Court rejecting the plaintiff's claims[95]. - A separate case with a claim amount of ¥1,107.93 million is currently in the preliminary stage, with a court hearing scheduled for June 11, 2024[95]. - The company faces a labor remuneration dispute with a claim amount of ¥1,405.24 million, which is still pending court decisions[96]. - A contract dispute involving a claim amount of ¥372.18 million has been ruled in favor of the company, with no impact on its financials[97]. Strategic Outlook - The company is focusing on optimizing its business structure and enhancing core competitiveness, particularly in the aerospace and agricultural machinery sectors, which have faced challenges[90]. - The company has made breakthroughs in new markets within the aerospace sector, including nuclear fusion and commercial aerospace, and has entered the supply chains of several leading enterprises[90]. - Future outlook remains positive with expectations of continued growth in revenue and profitability[165]. - The company plans to expand its market presence by entering two new regions in the next fiscal year[162].

金融界消息 截至2025年8月25日收盘，*ST新研（300159）报收于3.22元，下跌1.23%，换手率3.26%， 成交量47.98万手，成交金额1.54亿元。 资金流向方面，今日主力资金净流出2906.24万元，占比成交额18.88%。其中，超大单净流入0.00万 元、占成交额0.0%，大单净流出2906.24万元、占成交额18.88%，中单净流出流入1366.90万元、占成交 额8.88%，小单净流入1539.33万元、占成交额10.0%。 *ST新研最新一期业绩显示，截至2025一季报，公司营业总收入3247.14万元、同比增长3.93%，归属净 利润4778.91万元，同比增长26.97%，扣非净利润4876.83万元，同比增长26.40%，流动比率0.524、速动 比率0.390、资产负债率114.35%。 天眼查商业履历信息显示，新疆机械研究院股份有限公司，成立于2005年，位于乌鲁木齐市，是一家以 从事铁路、船舶、航空航天和其他运输设备制造业为主的企业。企业注册资本150196.5923万人民币， 实缴资本150196.5923万人民币。公司法定代表人为方德松。 通过天眼查大数据分析，新疆 ...

天眼查商业履历信息显示，新疆机械研究院股份有限公司，成立于2005年，位于乌鲁木齐市，是一家以 从事铁路、船舶、航空航天和其他运输设备制造业为主的企业。企业注册资本150196.5923万人民币， 实缴资本150196.5923万人民币。公司法定代表人为方德松。 通过天眼查大数据分析，新疆机械研究院股份有限公司共对外投资了4家企业，参与招投标项目12次， 专利信息62条，此外企业还拥有行政许可30个。 来源：金融界 金融界消息 截至2025年8月14日收盘，*ST新研（300159）报收于3.18元，下跌4.79%，换手率4.56%， 成交量67.17万手，成交金额2.17亿元。 资金流向方面，今日主力资金净流出4430.77万元，占比成交额20.46%。其中，超大单净流入0.00万 元、占成交额0.0%，大单净流出4430.77万元、占成交额20.46%，中单净流出流入1267.21万元、占成交 额5.85%，小单净流入3163.56万元、占成交额14.61%。 *ST新研最新一期业绩显示，截至2025一季报，公司营业总收入3247.14万元、同比增长3.93%，归属净 利润4778.91万元，同比增长26 ...

Group 1 - The low-altitude economy sector experienced a decline, with a drop of 2.02% in the afternoon trading session [2] - Specific companies within this sector saw significant losses, including Zongheng Co., which fell by 5.19%, Aerospace Morning Light down by 4.70%, and *ST New Research decreasing by 4.49% [2] - Other companies also faced declines, such as Aerospace Electronics down by 4.15% and Northern Navigation dropping by 4.30% [2]

Group 1 - The core point of the article highlights the recent performance and financial metrics of *ST Xin Yan (300159), showing a slight increase in stock price and notable changes in trading volume and capital flow [1] - As of the latest quarterly report, the company reported total revenue of 32.47 million yuan, a year-on-year increase of 3.93%, and a net profit attributable to shareholders of 47.79 million yuan, reflecting a growth of 26.97% [1] - The company has a current ratio of 0.524, a quick ratio of 0.390, and a debt-to-asset ratio of 114.35%, indicating its liquidity and financial leverage situation [1] Group 2 - Xinjiang Mechanical Research Institute Co., Ltd. was established in 2005 and is primarily engaged in the manufacturing of railway, ship, aerospace, and other transportation equipment [2] - The company has made investments in four enterprises, participated in 12 bidding projects, and holds 62 patents, along with 30 administrative licenses [2]

Investment Rating - The report maintains a "Recommended" investment rating for the industry [7] Core Viewpoints - The low-altitude economy is developing well, with strong support from government policies, particularly in emergency equipment and low-altitude applications [3][4] - The mechanical equipment sector is expected to maintain steady growth, driven by competitive advantages in exports and domestic demand [4] Weekly Market Review - From July 20 to July 25, 2025, the Shanghai Composite Index rose by 1.67%, the Shenzhen Component Index by 2.33%, and the ChiNext Index by 2.76%. The Shenwan Mechanical Equipment Index increased by 2.56%, outperforming the CSI 300 Index by 0.86 percentage points, ranking 16th among 31 Shenwan primary industries [12][14] - Sub-sectors such as general equipment, specialized equipment, rail transit equipment II, engineering machinery, and automation equipment saw respective increases of 2.32%, 1.98%, 3.02%, 5.34%, and 1.48% [12][15] Key Sector Tracking - The low-altitude economy sector is bolstered by various government initiatives, including the "Three-Year Action Plan for High-Quality Development of Emergency Equipment Industry in Hunan Province (2025-2027)", aiming for an industry revenue exceeding 100 billion yuan by 2027 [3][25] - The mechanical equipment sector is supported by a recent trade agreement between the US and Japan, which is expected to enhance the competitive position of domestic leading enterprises [4] Investment Recommendations - For the low-altitude economy, recommended companies include Deep City Transportation, Sujiao Science and Technology, Huasheng Group, and Nairui Radar [5] - In the mechanical equipment sector, recommended companies include Sany Heavy Industry, XCMG, and Anhui Heli for engineering machinery, and Huazhong CNC and Kede CNC for industrial mother machines [5]

| 300227 | 光韵达 | -2.41 | 3.97 | -2753.92 | | --- | --- | --- | --- | --- | | 300471 | 厚普股份 | -3.46 | 5.10 | -2461.93 | | 300719 | 安达维尔 | -3.07 | 5.15 | -2367.88 | | 002179 | 中航光电 | -0.79 | 0.76 | -2233.56 | | 600765 | 中航重机 | -1.34 | 1.41 | -1772.20 | | 000571 | 新大洲A | -3.25 | 2.48 | -1576.68 | | 300733 | 西菱动力 | -1.82 | 2.18 | -1568.87 | | 688033 | 天宜新材 | -2.65 | 3.01 | -1331.98 | | 002520 | 日发精机 | -2.40 | 5.35 | -1303.17 | | 301289 | 国缆检测 | -2.48 | 2.39 | -929.80 | | 300447 | 全信股份 | -2.90 | 11.68 | -861.65 ...

Core Viewpoint - The company has completed the repurchase and cancellation of part of the restricted stock under the 2023 incentive plan due to performance assessment failures and employee departures [1][4][9] Group 1: Repurchase and Cancellation Details - A total of 6,320,000 shares of the first category of restricted stock were repurchased and canceled, which includes 5,320,000 shares due to performance assessment failures and 1,000,000 shares due to employee departures [1][4] - The total amount for the repurchase of the restricted stock is RMB 9,152,000 [1][4] - The repurchase price for the restricted stock is set at RMB 1.42 per share plus the interest from the People's Bank of China [1][4][6] Group 2: Performance Assessment Criteria - The performance assessment for the first unlock period requires a net profit of no less than RMB 30 million for 2024, with subsequent years requiring RMB 35 million for 2025 and RMB 41 million for 2026 [4][5] - The company did not meet the performance criteria for 2024, leading to the repurchase of the restricted stock [5][9] Group 3: Corporate Governance and Procedures - The company held multiple board and supervisory meetings to approve the incentive plan and the repurchase of restricted stock, ensuring compliance with internal governance procedures [2][3][4] - The company publicly disclosed the list of incentive objects and received no objections during the public notice period [2][3] Group 4: Financial Impact and Capital Structure - The repurchase and cancellation of the restricted stock will not have a significant impact on the company's financial status or operational results [9] - Following the repurchase, the company's total registered capital will be RMB 1,495,645,923, with changes in the share structure detailed [8][9]