Group 1 - The core viewpoint of the article is the strategic cooperation agreement signed between Jing Sheng Electric and Siemens (China) on March 13, focusing on four key areas: automation, digitalization, green low-carbon, and sustainable development [1] - The collaboration aims to explore innovative solutions in smart factory construction, digital technology application, and energy efficiency optimization [1] - This partnership is expected to support the high-quality and low-carbon development of China's high-end manufacturing industry [1]

国浩律师（杭州）事务所 法律意见书 国浩律师（杭州）事务所 关 于 浙江晶盛机电股份有限公司 2025 年第一次临时股东大会 之 法律意见书 地址：杭州市上城区老复兴路白塔公园 B 区 2 号、15 号国浩律师楼 邮编：310008 Grandall Building, No.2＆No.15, Block B, Baita Park, Old Fuxing Road, Hangzhou, Zhejiang 310008, China 电话/Tel: (+86)(571) 8577 5888 传真/Fax: (+86)(571) 8577 5643 电子邮箱/Mail：grandallhz@grandall.com.cn 网址/Website：http://www.grandall.com.cn 二〇二五年三月 国浩律师（杭州）事务所 法律意见书 国浩律师（杭州）事务所 关 于 浙江晶盛机电股份有限公司 2025 年第一次临时股东大会 之 法律意见书 致：浙江晶盛机电股份有限公司 国浩律师（杭州）事务所（以下简称"本所"）接受浙江晶盛机电股份有限 公司（以下简称"公司"）的委托，指派律师出席贵公司 2025 年 ...

证券代码：300316 证券简称：晶盛机电 编号：2025-005 浙江晶盛机电股份有限公司 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。 重要提示 1、本次股东大会未出现否决议案的情形。 2、本次股东大会不涉及变更以往股东大会已通过决议的情形。 一、会议召开情况 1、会议召开时间： （1）现场会议召开时间：2025年3月10日（星期一）下午2：30。 1 2、出席现场会议的股东及股东代表共 12 人，代表股份数量 724,628,776 股， 占公司有表决权股份总数的 55.4269%；通过网络投票的股东共 785 人，代表股 份数量 32,226,745 股，占公司有表决权股份总数的 2.4650%。 3、参加本次会议的中小股东（中小股东是指除上市公司董事、监事、高级 管理人员以及单独或者合计持有公司 5%以上股份的股东以外的其他股东）共计 787 人，代表股份数量 32,248,845 股，占公司有表决权股份总数的 2.4667%。 4、公司部分董事、监事及高级管理人员、国浩律师（杭州）事务所律师等 参加了会议。 ...

Summary of Conference Call for Jing Sheng Mechanical & Electrical Co., Ltd. Company Overview - Jing Sheng Mechanical & Electrical Co., Ltd. is a leading player in the photovoltaic equipment market, with a significant focus on solar and semiconductor equipment [2][3]. Key Points Industry and Market Position - The company holds approximately 70% market share in the photovoltaic equipment sector, with the largest order being the Jin Ke 3G28GW project, which includes 100% single crystal furnaces and about 80% slicing machines [3][2]. - The total order backlog is estimated at around 5-6 billion RMB, covering both photovoltaic and semiconductor equipment [3][2]. Photovoltaic Equipment - The company has launched the fifth generation of single crystal furnaces, maintaining a price of around 1.5 million RMB, with limited adoption of the superconducting magnetic field device due to its high cost [13][2]. - The expected sales for photovoltaic production equipment in 2024 are projected to be similar to 2023, around several hundred million RMB [15][2]. Sapphire and Silicon Carbide Production - Sapphire production is expected to reach approximately 200,000 units in 2024, with an average price of 15,000 RMB, leading to total revenue close to 3 billion RMB [4][2]. - The company is actively expanding its silicon carbide production capacity, targeting a monthly output of 3,000 wafers by the end of 2024 [5][2]. Semiconductor Equipment - The semiconductor equipment segment is seeing growth, particularly in thin film deposition equipment, with multiple formal orders for LPCVD and customer validation for ARAD [10][2]. - The company has a market share of about 30% in dry process technology and over 50% in sapphire [11][2]. Strategic Focus - The company's strategic focus is on three pillars: photovoltaic equipment, semiconductor equipment, and materials, aiming for balanced growth across all segments [7][2]. - The company plans to enhance its technology in photovoltaic equipment while benefiting from the domestic replacement of large 12-inch silicon wafers, where it holds over 90% market share [7][2]. Future Outlook - The market for large silicon wafers is expected to grow significantly due to increased domestic equipment usage, rising from 40% to 60% as indicated by recent tenders [8][2]. - The company is preparing for the introduction of 12-inch silicon carbide substrates by the end of 2025, with collaborations to replace glass lenses with silicon carbide substrates by 2027 [9][2]. Financial Performance - The company reported a 2% increase in shipment volume and a 50% increase in revenue in 2024, driven by the demand for LED replacements [23][2]. - The backlog of orders as of the end of 2023 was approximately 28 billion RMB, with expectations to reach close to 20 billion RMB after accounting for confirmed orders in 2024 [34][2]. Challenges and Risks - Uncertainties exist regarding the timing of photovoltaic capacity in the Middle East and the successful rollout of new products, which could impact future performance [35][2]. - The sapphire market is expected to remain stable, but price pressures may affect revenue in 2025 if prices remain below 10,000 RMB [36][2]. Additional Insights - The company is not planning to build new factories as current capacity utilization is around 80%, and recent equipment additions are sufficient to meet demand [25][2]. - The company has made significant advancements in semiconductor components, with a focus on high-precision processing and self-supply of parts [29][2]. This summary encapsulates the key insights from the conference call, highlighting the company's market position, strategic focus, and future outlook while addressing potential challenges.

碳化硅新应用场景打开，与浙大系 AR 眼镜 企业达成战略合作 买入（维持） | [Table_EPS] 盈利预测与估值 | 2022A | 2023A | 2024E | 2025E | 2026E | | --- | --- | --- | --- | --- | --- | | 营业总收入（百万元） | 10638 | 17983 | 19146 | 20256 | 22718 | | 同比（%） | 78.45 | 69.04 | 6.47 | 5.80 | 12.15 | | 归母净利润（百万元） | 2924 | 4558 | 3808 | 3886 | 4473 | | 同比（%） | 70.84 | 55.85 | (16.44) | 2.06 | 15.09 | | EPS-最新摊薄（元/股） | 2.23 | 3.48 | 2.91 | 2.97 | 3.42 | | P/E（现价&最新摊薄） | 14.99 | 9.62 | 11.51 | 11.28 | 9.80 | [Table_Tag] [Table_Summary] 投资要点 2025 年 02 月 28 日 证券研究报告·公司点 ...

证券代码：300316 证券简称：晶盛机电 编号：2025-003 浙江晶盛机电股份有限公司 关于 2025 年度日常关联交易预计的公告 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。 一、日常关联交易基本情况 （一）2025年度日常关联交易预计情况概述 浙江晶盛机电股份有限公司（以下简称"公司"）因经营发展需要，2025 年 度拟与关联方发生总额不超过 7,950 万元的日常关联交易。其中拟与关联方浙江 高川新材料有限公司（以下简称"高川新材料"）发生交易金额不超过 5,500 万元， 拟与关联方遂昌梵芷湖畔酒店有限公司（以下简称"梵芷湖畔"）发生交易金额不 超过 900 万元，拟与关联方杭州超材智能科技有限公司（以下简称"超材智能"） 发生交易金额不超过 1,550 万元。具体交易由关联双方或其合并范围内的下属子 公司负责实施。 公司独立董事专门会议审议通过该议案并同意将该议案提交公司董事会审 议。公司于2025年2月21日召开第五届董事会第十七次会议以5票赞成，0票反对， 0票弃权的表决结果审议通过了《关于2025年度日常关联交易预计的议案》，关 联董事 ...

证券代码：300316 证券简称：晶盛机电 编号：2025-004 浙江晶盛机电股份有限公司 关于召开 2025 年第一次临时股东大会的通知 4、会议召开日期、时间： 现场会议召开时间：2025 年 3 月 10 日（星期一）下午 2：30。 网络投票时间：通过深圳证券交易所交易系统进行网络投票的时间为 2025 年 3 月 10 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 系统投票的具体时间为 2025 年 3 月 10 日 9:15—15:00 的任意时间。 5、会议召开方式：本次股东大会采用现场表决与网络投票相结合的方式召开。 6、会议的股权登记日：2025 年 3 月 5 日（星期三）。 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、召开会议的基本情况 1、股东大会届次：2025 年第一次临时股东大会。 2、股东大会的召集人：公司第五届董事会第十七次会议以 9 票同意，0 票反 对，0 票弃权，同意召开 2025 年第一次临时股东大会。 3、会议召开的合法、合规性：本次股东大会召集程序符合有 ...

证券代码：300316 证券简称：晶盛机电 编号：2025-002 浙江晶盛机电股份有限公司 第五届监事会第十七次会议决议公告 本公司及监事会全体成员保证信息披露内容的真实、准确和完整，没有 虚假记载、误导性陈述或重大遗漏。 浙江晶盛机电股份有限公司（以下简称"公司"）第五届监事会第十七次会议 通知于2025年2月17日以电子邮件或电话的方式送达各位监事，会议于2025年2 月21日以现场加通讯表决相结合的方式召开，会议由监事会主席李世伦先生主持， 会议应到监事3人，实到监事3人，会议的召集和召开符合《公司法》《公司章程》 的相关规定。经与会监事审议，通过如下决议： 一、以 3 票同意，0 票弃权，0 票反对，通过了《关于 2025 年度日常关联 交易预计的议案》； 监事会 2025 年 2 月 22 日 1 公司2025年度预计发生的日常关联交易均为公司正常经营所需，交易价格以 市场价格为定价依据，遵照公开、公平、公正原则，预计与关联方发生的交易有 利于公司主营业务的开展，不存在损害公司及广大股东利益的情形，监事会同意 公司2025年度日常关联交易预计事项。 公司《关于2025年度日常关联交易预计的公告》详 ...

证券代码：300316 证券简称：晶盛机电 编号：2025-001 浙江晶盛机电股份有限公司 第五届董事会第十七次会议决议公告 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。 浙江晶盛机电股份有限公司（以下简称"公司"）第五届董事会第十七次会议 通知于2025年2月17日以电子邮件或电话的方式送达各位董事，会议于2025年2 月21日以现场加通讯相结合的方式在浙江省杭州市临平区顺达路500号公司会议 室召开，会议由董事长曹建伟先生主持，会议应到董事9人，实到董事9人，会议 的召集和召开符合《公司法》《公司章程》的相关规定。经与会董事审议，通过 如下决议： 一、以 9 票同意，0 票弃权，0 票反对，通过了《关于制定<市值管理制度> 的议案》； 根据《公司法》《证券法》《上市公司监管指引第10号——市值管理》等法 律法规、规范性文件和公司章程的规定，并结合公司实际情况，制定《市值管理 制度》。 二、以5票同意，0票弃权，0票反对，通过了《关于2025年度日常关联交易 预计的议案》； 因经营发展需要，同意公司 2025 年度与关联方发生总额不超过 7,950 万元 ...

Semiconductor Equipment Progress - The company is accelerating the domestic substitution of semiconductor equipment, with significant market breakthroughs in power semiconductor equipment and advanced process equipment [1] - Sales of 8-inch silicon carbide epitaxy equipment and optical measurement equipment have been successfully achieved, with continuous growth in related equipment orders [1] - The market for 8-12 inch large silicon wafer equipment is further improving due to the recovery of the semiconductor industry [1] Silicon Carbide Substrate Business - The company has established large-scale production capacity for 6-8 inch silicon carbide substrates and is actively ramping up 8-inch substrate production [2] - Core parameter indicators for mass-produced silicon carbide substrates have reached industry-leading levels, maintaining technological advantages [2] Silicon Carbide Equipment Development - The company has developed various silicon carbide equipment, including 6-8 inch crystal growth, slicing, thinning, polishing, epitaxy, and measurement equipment, achieving domestic substitution [2] - Innovative dual-wafer silicon carbide epitaxy equipment has significantly increased epitaxy capacity [2] Photovoltaic Business Progress - The company is driving innovation in photovoltaic equipment to reduce costs and improve efficiency, collaborating with strategic customers on product technology and advanced manufacturing [2] - The innovative silver-reducing component equipment has shown promising results in customer mass production tests [2] - The subsidiary, Jing Sheng Photon, successfully exported battery cell equipment to overseas customers, and the newly developed edge passivation EPD equipment received customer recognition, securing the first 10GW bulk order [2] Sapphire Business Development - The company has mastered leading technology for large-size sapphire crystal growth, achieving mass production of 300Kg and above sapphire crystals [3] - The sapphire business has experienced rapid growth due to industry recovery and replacement demand [3] - The subsidiary, Jing Huan Electronics, has successfully achieved 1,000kg ultra-large sapphire crystal growth, laying a solid foundation for industrialization [3] Customer Risk Management - The company primarily holds orders from leading downstream customers, with good payment performance [3] - Risk management includes thorough due diligence on target customers and strict credit management practices [3] Future Development Strategy - The company will continue to implement the "advanced materials, advanced equipment" strategy, enhancing photovoltaic equipment innovation and accelerating the domestic substitution of semiconductor equipment [3]