二、监事会会议审议情况 证券代码：300445 证券简称：康斯特 公告编号：2025-028 北京康斯特仪表科技股份有限公司 1. 《北京康斯特仪表科技股份有限公司 2025 年半年度报告及其摘要》 经审议，监事会一致认为：公司 2025 年半年度报告真实反映了公司 2025 年上半年的财务状况和经营成果，编制和审议程序符合法律、行政法规、中国证 监会和深圳证券交易所的相关规定，报告内容真实、准确，完整，不存在任何虚 假记载、误导性陈述或者重大遗漏。同意公司对外报出。 表决结果：3 票同意，0 票反对，0 票弃权，获得通过。 第六届监事会第十次会议决议公告 本公司及监事会全体成员保证信息披露内容的真实、准确、完整，没有 虚假记载、误导性陈述或重大遗漏。 一、监事会会议召开情况 北京康斯特仪表科技股份有限公司（以下简称"公司"）于 2025 年 8 月 15 日 以电子邮件、传真等形式通知了全体监事，召开第六届监事会第十次会议。会议 于 2025 年 8 月 25 日在北京市海淀区丰秀中路 3 号院 5 号楼公司会议室召开。本 次监事会应出席会议的监事 3 人，实际出席监事 3 人，会议由监事会主席李俊平 先生 ...

证券代码：300445 证券简称：康斯特 公告编号：2025-027 北京康斯特仪表科技股份有限公司 第六届董事会第十次会议决议公告 本公司及董事会全体成员保证信息披露内容的真实、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 北京康斯特仪表科技股份有限公司（以下简称"公司"、"本公司"或"康斯特"） 全体董事同意召开第六届董事会第十次会议，公司于 2025 年 8 月 15 日以电子邮 件、传真等形式通知了全体董事。会议于 2025 年 8 月 25 日以现场和通讯的方式 在公司会议室召开，会议应参会的董事 8 人，其中独立董事 3 人；实际参会的董 事 8 人（其中董事赵明坚先生、独立董事李静女士、独立董事赵天庆先生以通讯 方式出席会议）。会议由董事长姜维利先生主持，本公司监事、高级管理人员列 席了会议。本次董事会的召集和召开符合《中华人民共和国公司法》和公司章程 的规定。经出席会议的全体董事表决，形成决议如下： 二、董事会会议审议情况 经出席会议的全体董事表决，形成决议如下： 三、备查文件 特此公告。 1. 审议通过了《北京康斯特仪表科技股份有限公司2025年半年度报告及其摘 ...

Financial Performance - The company's operating revenue for the first half of 2025 was CNY 246,340,016.89, representing a 3.76% increase compared to CNY 237,424,521.73 in the same period last year[20]. - Net profit attributable to shareholders was CNY 54,129,480.94, a decrease of 7.71% from CNY 58,652,342.29 in the previous year[20]. - The net profit after deducting non-recurring gains and losses was CNY 50,637,371.11, down 7.08% from CNY 54,493,539.83 year-on-year[20]. - The net cash flow from operating activities increased by 9.71% to CNY 81,565,534.55, compared to CNY 74,344,135.75 in the same period last year[20]. - Basic and diluted earnings per share were both CNY 0.25, reflecting a decline of 10.71% from CNY 0.28 in the previous year[20]. - The total assets at the end of the reporting period were CNY 1,354,809,831.80, an increase of 1.55% from CNY 1,334,138,525.09 at the end of the previous year[20]. - The net assets attributable to shareholders increased by 3.03% to CNY 1,231,285,004.09 from CNY 1,195,065,907.77 at the end of the previous year[20]. - The company achieved total operating revenue of 246.34 million yuan, a year-on-year increase of 3.8%, with Q2 revenue growing 3.9% year-on-year and 21.7% quarter-on-quarter[50]. - The net profit attributable to shareholders was 54.13 million yuan, a decrease of 7.7% year-on-year, while Q2 net profit decreased 4.2% year-on-year but increased 44.0% quarter-on-quarter[50]. - International market revenue reached 127.50 million yuan, up 3.2% year-on-year, with Q2 growth of 5.5% year-on-year and 10.3% quarter-on-quarter[53]. - Domestic market revenue was 118.84 million yuan, a year-on-year increase of 4.4%, with Q2 growth of 2.4% year-on-year and 35.4% quarter-on-quarter[54]. - The gross profit margin was 64.0%, an increase of 0.4% year-on-year, attributed to a decrease in tariff amounts and an increase in high-value orders[61]. - The company reported a significant increase in revenue, with a total of 21.39 million yuan for the period[113]. - The company reported a comprehensive income of 1.2 billion yuan, indicating a strong performance in overall financial health[170]. Research and Development - R&D investment is targeted to be no less than 15% of revenue annually, ensuring product competitiveness and technological leadership[42]. - The R&D team prioritizes user needs and conducts thorough evaluations of proposed projects, ensuring high-quality and cost-effective development processes[37]. - Research and development (R&D) expenses totaled 39.84 million yuan, accounting for 16.2% of total revenue in the first half of 2025[96]. - The company is focusing on optimizing resource allocation and enhancing R&D project management capabilities[96]. - The company is focusing on enhancing its R&D capabilities to innovate and improve product offerings in the upcoming fiscal year[173]. Market Strategy and Positioning - The company has established a strong international presence, with 90% of its products exported to developed industrial regions such as the US, Europe, and Japan[31]. - The company is committed to becoming a high-end testing industry group with a unique international position, maintaining a competitive edge with products priced 10% higher than international competitors[31]. - The company aims to enhance user experience through innovative and intelligent applications, expanding from calibration to testing scenarios[31]. - The company is experiencing a shift in market demand towards flexible, intelligent, and fragmented solutions in the testing instrument market[29]. - The company has identified a trend of "de-bulking" in the industry, with leading firms gaining structural advantages[30]. - The company is leveraging its core technologies and strong product innovation capabilities to enhance its market position[31]. - The company aims to expand its market presence through new product development and strategic partnerships in the upcoming quarters[167]. - The company plans to enhance its market expansion efforts, focusing on new product development and technological advancements[176]. Operational Efficiency - The company is transitioning from small-batch production to a more scalable manufacturing model, enhancing production efficiency and quality control[38]. - The company employs a flexible production line and self-developed core process equipment to optimize manufacturing efficiency and resource collaboration[43]. - The company is focusing on optimizing its product structure and enhancing operational efficiency through lean management and digital capabilities[62]. - The company is focusing on long-term user benefits, emphasizing industry knowledge accumulation and sustainable growth[29]. - The company emphasizes a direct sales model, utilizing a technical marketing team to customize solutions based on user needs, enhancing customer engagement and satisfaction[34]. Financial Management and Investments - The company plans to achieve a production target of 10,000 ultra-high precision pressure sensors in 2025, with the automated production line currently in ramp-up phase[58]. - The company has ongoing projects with a total investment of $2.23 million in new sensor manufacturing facilities[74]. - The company reported an investment income of $502,331.63, representing 0.85% of total profit[69]. - The company has allocated 1,139 million yuan for special reserves, indicating a proactive approach to future investments[177]. - The company is exploring potential mergers and acquisitions to strengthen its market position and diversify its product offerings[167]. Risk Management - The company has detailed the risks it faces and corresponding countermeasures in the management discussion section of the report[5]. - The company faces risks from external operating environment changes, particularly in the context of US-China trade relations and currency fluctuations[86]. - The company plans to enhance supply chain resilience by diversifying supply channels and increasing the localization rate of components[88]. - The company has a significant amount of accounts receivable at the end of the reporting period, which poses management challenges and potential bad debt risks[89]. Corporate Governance - The company has not made any changes to its board of directors, supervisors, or senior management during the reporting period[98]. - The company has not experienced any non-operating fund occupation by controlling shareholders or related parties during the reporting period[106]. - There were no significant litigation or arbitration matters reported during the period[110]. - The company has not faced any penalties or rectification issues during the reporting period[111]. - The financial report was approved by the board of directors on August 26, 2025[180]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 12,848[134]. - The largest shareholder, Jiang Weili, holds 16.04% of shares, totaling 34,081,040 shares[134]. - The second largest shareholder, He Xin, holds 12.60% of shares, totaling 26,776,310 shares[134]. - The third largest shareholder, Liu Baoqi, holds 9.65% of shares, totaling 20,506,187 shares[134]. - The fourth largest shareholder, Pu Jiangchuan, holds 9.17% of shares, totaling 19,487,000 shares[134]. - The total number of restricted shares before the change is 70,365,200, representing 33.12% of total shares[132]. - The total number of unrestricted shares is 142,064,743, representing 66.88% of total shares[132]. - The total number of shares after the change is 212,430,013[133]. - The company has not reported any changes in shareholding structure or significant shareholder movements during the reporting period[133]. Compliance and Accounting - The company adheres to the accounting standards set by the Ministry of Finance, ensuring the financial statements reflect its financial position and operating results accurately[185]. - The company recognizes revenue based on specific accounting policies tailored to its operational characteristics, including revenue recognition and impairment of receivables[184]. - The company maintains a continuous operating capability for at least 12 months following the reporting period[183]. - The company’s accounting records are maintained in Renminbi (CNY) as the functional currency[188].

Core Insights - Beijing Konst Instrument Technology Co., Ltd. has obtained a patent for a "Pressure Detection System," which aims to enhance the accuracy of pressure control in measurement systems [1][2] Company Overview - Beijing Konst Instrument Technology Co., Ltd. was established in 2004 and is located in Beijing, primarily engaged in technology promotion and application services [2] - The company has a registered capital of 2,124.30013 million RMB [2] - It has made investments in 5 enterprises and participated in 1,173 bidding projects [2] - The company holds 66 trademark registrations and 385 patent registrations, along with 37 administrative licenses [2] Patent Details - The patent, authorized under CN223192474U, was applied for on November 2024 [1] - The pressure detection system includes components such as pressure input ports, control valves, pressure chambers, and atmospheric interfaces, designed to improve the flow rate of pressure media and enhance control accuracy [1]

Group 1 - The company, Kangst (300445), focuses on high-end pressure sensors and related terminal products primarily in the industrial sector [1] - The first phase of the product is currently in the capacity ramp-up stage, with an initial emphasis on replacing externally sourced sensors in detection instruments [1] - The goal is to achieve stable capacity enhancement and rapid product iteration [1]

证券代码：300445 证券简称：康斯特 公告编号：2025-026 北京康斯特仪表科技股份有限公司 关于取得专利证书的公告 上述专利涉及公司的校准测试产品业务，是公司整体校准测试技术的拓展与延 伸，专利的取得不会对公司近期生产经营产生重大影响，但可以进一步提高产品的 性能及效率。作为国家知识产权优势企业，相关专利是公司有效运用知识产权的举 措之一，并有利于完善公司的持续创新机制，形成知识产权与商业秘密保护矩阵， 提升公司的核心竞争力。 特此公告。 北京康斯特仪表科技股份有限公司 董事会 本公司及董事会全体成员保证信息披露内容的真实、准确、完 整，没有虚假记载、误导性陈述或重大遗漏。 北京康斯特仪表科技股份有限公司（以下简称"公司"或"康斯特"）于近期取得 中华人民共和国国家知识产权局颁发的1项发明专利证书及1项实用新型专利证书， 获得形式为原始取得，具体情况如下： | 名称 | 类型 | 专利号 | 授权公告号 | 公告日 | 保护 | 专利 | | --- | --- | --- | --- | --- | --- | --- | | | | | （证书号） | | 期限 | 权人 | | 手持校验仪器及 ...

Group 1: Market and Product Strategy - Domestic downstream industries account for over 85%, primarily in measurement and testing, power, metallurgy, petrochemicals, and sensor manufacturing; overseas focus includes petrochemicals, biomedicine, and power [1] - The company targets the mid-to-high-end market, with pricing competitive with foreign counterparts; some core products priced higher due to R&D investment and product uniqueness [1] - The company has a production capacity utilization rate exceeding 90% after the new factory in Yanqing commenced operations, with raw material costs accounting for approximately 80% of operating costs [2] Group 2: Financial and Operational Performance - The company generates over 1 million CNY per employee, with a high retention rate of technical staff (over 10 years) ensuring product quality [2] - The highest tariff on U.S. imports is currently 55%, which includes a 25% original tariff and an additional 30%; the company is managing this through phased price increases and product structure optimization [5] Group 3: International Expansion and Team Structure - The overseas team, primarily based in Singapore and the U.S., consists of over 30 members, with plans to expand in Singapore while the U.S. has no immediate expansion plans [3] - Domestic sales are primarily direct, while international sales rely on agents, with direct sales accounting for 10% to 20% of total sales [4] Group 4: Management and Future Planning - The company's founders have a technical background, ensuring a focus on product quality and long-term strategic goals; the management team is stable with a well-structured talent pipeline [6] - The company is monitoring acquisition opportunities that align with its core business, although quality targets in niche markets are currently scarce [7] Group 5: Product Development and Innovation - The company plans to produce 10,000 high-precision pressure sensors annually starting in 2025, with 8,000 for internal use; initial cost amortization may limit gross margin optimization [9]

Group 1 - The core viewpoint is that the orders in the U.S. regional market are gradually recovering following the Geneva Trade Fair [1] - The company will continue to closely monitor tariff policies [1]

Core Viewpoint - The company demonstrates steady performance in its financial results for 2024 and Q1 2025, with a focus on high-quality development amidst global economic changes [1][4]. Financial Performance - For the year 2024, the company achieved operating revenue of 575 million, a year-on-year increase of 15.48% - The net profit attributable to shareholders reached 125 million, up 23.07% - The net profit after deducting non-recurring items was 115 million, reflecting an 18.48% increase - Basic earnings per share (EPS) stood at 0.59, a growth of 22.92% [1] - In Q1 2025, the company reported revenue of 111 million, a year-on-year increase of 3.57% - The net profit attributable to shareholders was 22.18 million, a decline of 12.39% - The net profit after deducting non-recurring items was 20.76 million, down 8.08% - Basic EPS for Q1 2025 was 0.10, a decrease of 16.67% [1] Business Development - The company is adapting to global economic changes by focusing on "product acceleration and scenario deepening" for high-quality development [1] - The calibration testing business is entering its third decade, providing comprehensive solutions for pressure, temperature, humidity, and electrical testing instruments, with applications in various industries [1] - The digital platform business is in its first decade, offering integrated testing platforms and smart measurement solutions, while integrating testing technology with industrial IoT [2] Sensor Technology - The company has over 20 years of experience in sensor evaluation and compensation algorithms, leading to a competitive edge in the sensor industry [3] - The pressure sensors based on silicon piezoresistive technology have achieved performance metrics better than 0.01% F.S [3] - The high-precision sensor business is also in its first decade, aiming to meet industrial users' demands for wide range and high precision [3] Investment Outlook - The company is expected to see long-term growth, with revised revenue forecasts for 2025-2027 at 665 million, 770 million, and 892 million respectively [4] - Projected net profits for the same period are 158 million, 187 million, and 221 million respectively [4] - Corresponding EPS estimates for 2025-2027 are 0.74, 0.88, and 1.04 [4] - The current stock price corresponds to a PE ratio of 23, 20, and 16 for the years 2025-2027, maintaining a "buy" investment rating [4]

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company has demonstrated stable performance, with a 2024 annual revenue of 575 million yuan, representing a year-on-year growth of 15.48%. The net profit attributable to shareholders reached 125 million yuan, up 23.07% year-on-year [5][8] - In Q1 2025, the company achieved a revenue of 111 million yuan, a year-on-year increase of 3.57%, while the net profit attributable to shareholders decreased by 12.39% to 22.18 million yuan [5] - The calibration testing products are evolving, and the digital platform business is providing growth momentum, with applications expanding into various sectors including biomedicine and new energy [6][7] Financial Performance Summary - The company forecasts revenues of 665 million yuan, 770 million yuan, and 892 million yuan for 2025, 2026, and 2027 respectively, with corresponding net profits of 158 million yuan, 187 million yuan, and 221 million yuan [8][11] - The projected EPS for 2025, 2026, and 2027 is 0.74 yuan, 0.88 yuan, and 1.04 yuan respectively, with a current P/E ratio of 23, 20, and 16 for the respective years [8][11] - The gross margin is expected to improve from 64.7% in 2024 to 69.5% in 2027, indicating enhanced profitability [11][12]