Group 1: Financial Performance - In the first half of 2025, the company achieved a revenue of CNY 4.264 billion and a net profit attributable to shareholders of CNY 271 million, with a significant improvement in operating cash flow, increasing by 69.08% compared to the same period last year [1] - The second quarter revenue reached CNY 2.926 billion, with a net profit of CNY 256 million [1] - The company's contract liabilities grew by 52.72% compared to the beginning of the year and increased by 75.51% year-on-year as of June 30, 2025 [1] Group 2: Research and Development - R&D expenses in the first half of 2025 amounted to CNY 307 million, reflecting a year-on-year increase of 26.16% [4] - The company has introduced several new lithium battery core equipment products, including the dual-layer Super-E coater and the ultra-high-speed multi-station cutting and stacking machine, which has improved efficiency by 70% compared to industry standards [4] - The company has developed solid-state battery equipment solutions that cover both wet and dry processes, enhancing manufacturing efficiency [6] Group 3: Market Strategy and Product Development - The subsidiary, Skoll, has launched compliant and innovative products in response to changes in overseas electronic cigarette policies, including multiple models of cartridge-based e-cigarettes [3] - Skoll is expanding its global strategy, focusing on markets in North America, Southeast Asia, Russia, and the Middle East [3] - The company has maintained a high level of R&D investment in its electronic cigarette business, introducing new products that have received positive market feedback [5]

Investment Rating - The report maintains a "Recommendation" rating for the lithium battery equipment industry [2] Core Viewpoints - The lithium battery equipment sector is experiencing a recovery in demand, driven by both traditional lithium battery needs and new solid-state battery technologies, leading to a significant rebound in stock prices [5][10] - The overall revenue for the lithium battery equipment sector in Q2 2025 reached 12.347 billion, marking a year-on-year increase of 9.93%, while net profit attributable to shareholders was 434 million, a decrease of 12.76% [14][19] - The report highlights a fundamental turning point in the industry, with new orders beginning to recover after a downturn [9][14] Summary by Sections 1. Overview of Lithium Battery Equipment Mid-Year Report 2025 - The report analyzes the operational performance of 13 key listed companies in the lithium battery equipment sector, confirming a turning point in the fundamentals and a recovery in new orders [9] 2. Market Performance - The lithium battery equipment index has outperformed the broader market, with a year-to-date increase of 130.14% compared to a 17.84% rise in the CSI 300 index [10] - The sector's performance is attributed to fundamental changes, advancements in solid-state battery technology, and favorable policy expectations [10] 3. Mid-Year Report Summary - The lithium battery equipment sector achieved a total revenue of 21.476 billion in H1 2025, a slight decrease of 0.35% year-on-year, while net profit was 920 million, down 37.20% [14][16] - The report notes that the revenue growth in Q2 2025 ended a four-quarter decline, indicating a recovery in the revenue stream [14][19] 4. Future Outlook - The solid-state battery industry is approaching commercialization, with significant implications for equipment demand and value [5][43] - The report anticipates that the global market for semi-solid battery equipment could reach 62.44 billion by 2030, with a CAGR of 59% from 2024 to 2030 [5] - The solid-state battery market is projected to reach 45.50 billion by 2030, with a CAGR of 159% from 2024 to 2030 [5] 5. Investment Recommendations - The report suggests focusing on companies involved in the "selling shovel" logic, particularly those engaged in the upstream dry process equipment [5] - Key companies to watch include Naconoer, Xinyuren, Honggong Technology, and Mannester for their potential in the new technology segment [5] - The report also highlights leading companies with established relationships with major battery manufacturers, such as Xian Dao Intelligent, Yinghe Technology, Liyuanheng, and Hangke Technology [5]

Core Viewpoint - Winning Technology has shown significant stock price appreciation and strong trading activity, indicating investor interest and potential growth in the lithium battery equipment sector [1][2]. Company Performance - As of September 23, Winning Technology's stock price increased by 2.01% to 34.52 CNY per share, with a total market capitalization of 22.407 billion CNY [1]. - The company has experienced an 81.45% increase in stock price year-to-date, with a 4.57% rise in the last five trading days and a 50.02% increase over the past 20 days [1]. - For the first half of 2025, Winning Technology reported a revenue of 4.264 billion CNY, a year-on-year decrease of 3.68%, and a net profit of 271 million CNY, down 19.84% year-on-year [2]. Shareholder Information - As of June 30, 2025, the number of shareholders increased by 40.78% to 53,100, while the average number of circulating shares per person decreased by 28.86% to 12,010 shares [2]. - The company has distributed a total of 553 million CNY in dividends since its A-share listing, with 330 million CNY distributed in the last three years [3]. Institutional Holdings - As of June 30, 2025, the top ten circulating shareholders include Hong Kong Central Clearing Limited, which holds 3.693 million shares (a decrease of 1.0402 million shares), and Southern CSI 1000 ETF, which holds 3.607 million shares (an increase of 0.6917 million shares) [3].

深圳市赢合科技股份有限公司 关于公司董事、高级管理人员减持股份计划实施完成的公告 一、会议召开和出席情况 公司董事、总裁何爱彬保证向本公司提供的信息内容真实、准确、完整，没 有虚假记载、误导性陈述或重大遗漏。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一致。 证券代码：300457 证券简称：赢合科技 公告编号：2025-066 一、股东减持情况 1、股东减持股份情况 | 减持方式 | | 减持期间 | | | | 减持均价 | | 减持股数 （万股） | 减持比例 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 集中竞价 | 2025 | 年 8 | 月 | 29 日 | 25.96 | | 元/股 | 19.58 | 0.03% | | | | -9 | 月 | 18 | 日 | | | | | | | | | | | | | | | | | | 股东名称 何爱彬 | 以上减持的股份来源：首次公开发行前持有的股份（包括因权益分派实施 资本公积转增股本部分）、股权激励授予股份； 集中竞价交易 ...

Core Viewpoint - Winning Technology has shown significant stock performance this year, with a year-to-date increase of 77.92%, despite a recent decline in the last five trading days [1] Company Overview - Winning Technology, established on June 26, 2006, and listed on May 14, 2015, is located in Shenzhen, Guangdong Province. The company specializes in the research, design, manufacturing, sales, and service of lithium battery production equipment [1] - The main business revenue composition includes 65.66% from lithium battery production equipment and 34.34% from other supplementary services [1] Financial Performance - For the first half of 2025, Winning Technology reported operating revenue of 4.264 billion yuan, a year-on-year decrease of 3.68%, and a net profit attributable to shareholders of 271 million yuan, down 19.84% year-on-year [2] - The company has distributed a total of 553 million yuan in dividends since its A-share listing, with 330 million yuan distributed over the past three years [3] Shareholder Information - As of June 30, 2025, the number of shareholders increased by 40.78% to 53,100, while the average circulating shares per person decreased by 28.86% to 12,010 shares [2] - The top ten circulating shareholders include Hong Kong Central Clearing Limited and Southern CSI 1000 ETF, with notable changes in their holdings [3]

赢合科技（维权）于2025年9月19日发布公告，宣布此前计划的股份回购已实施完成。此次回购旨在用 于员工股权激励，对公司的长远发展具有积极意义。 回购计划回顾 回购合规性及后续安排 公司回购股份严格遵守相关规定，未在禁止时间进行回购，且集中竞价交易符合委托价格、交易时段等 要求。本次回购股份拟用于股权激励计划，实施前存放于回购专用证券账户，暂不享有相关权利，不得 质押和出借。后续公司将依规适时安排并披露。 2025年1月23日，赢合科技第五届董事会第十五次会议、第五届监事会第十一次会议审议通过回购议 案，决定使用自有资金和/或自筹资金，以集中竞价交易方式回购部分已发行的人民币普通股（A股）股 票，用于员工股权激励。回购资金总额不低于10,000万元（含）且不超过20,000万元（含），回购价格 不超过28.94元/股（含）。实施期限为自董事会审议通过之日起8个月内。2025年8月5日，因2024年年 度权益分派实施完成，回购股份价格上限调整为不超过28.82元/股。 回购实施情况首次回购：2025年2月28日，公司首次通过回购专用证券账户以集中竞价交易方式回购股 份980,000股。持续披露：在回购期间，公司 ...

格隆汇9月19日丨赢合科技（维权）(300457.SZ)公布，截至本公告披露日，本次回购公司股份方案已实 施完成，实际实施回购的时间区间为2025年2月28日至2025年4月8日。公司通过集中竞价交易方式累计 回购股份6,504,400股，达到公司目前总股本的1%，最高成交价为21元/股，最低成交价为15.38元/股， 成交总金额为人民币125,431,832元（不含交易费用）。 ...

赢合科技公告，截至本公告披露日，本次回购公司股份方案已实施完成，实际实施回购的时间区间为 2025年2月28日至2025年4月8日。公司通过集中竞价交易方式累计回购股份650.44万股，达到公司目前 总股本的1%，最高成交价为21元/股，最低成交价为15.38元/股，成交总金额为人民币1.25亿元（不含交 易费用）。公司实际回购资金总额已超过回购方案中的回购资金总额下限，且不超过回购资金总额上 限。 ...

深圳市赢合科技股份有限公司 关于回购公司股份实施完成的公告 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。 深圳市赢合科技股份有限公司（以下简称"公司"）于2025年1月23日召开 的第五届董事会第十五次会议、第五届监事会第十一次会议，审议通过了《关于 回购公司股份方案的议案》，同意公司使用自有资金和/或自筹资金以集中竞价 交易方式进行回购部分公司已发行的人民币普通股（A股）股票，拟用于员工股 权激励。本次回购股份的资金总额不低于人民币10,000万元（含）且不超过人民 币20,000万元（含），具体回购资金总额以实际使用的资金总额为准，回购价格 不超过人民币28.94元/股（含），实际回购价格由公司董事会授权公司管理层在 本次回购实施期间结合公司股票价格、财务状况和经营状况确定，实施期限为自 公司董事会审议通过回购股份方案之日起8个月内。2025年8月5日，公司2024年 年度权益分派实施完成后，公司回购股份价格上限由不超过人民币28.94元/股调 整为不超过人民币28.82元/股。具体内容详见公司刊登在巨潮资讯网的《关于回 购公司股份方案的公告》（公告编号 ...

证券代码：300457 证券简称：赢合科技 公告编号：2025-064 深圳市赢合科技股份有限公司 关于举办 2025 年半年度业绩说明会的公告 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。 4、公司参会人员：董事长贾廷纲先生，副董事长、财务负责人郑英霞女士， 董事、总裁何爱彬先生，独立董事李博先生，董事会秘书杨仝焕先生，证券事务 代表曾裕欢女士（如遇特殊情况，参会人员可能进行调整）。 二、投资者参与方式 为充分尊重投资者，提升公司与投资者之间的交流效率，广大投资者可于 2025年9月25日（星期四）15:00-17:00通过网址https://eseb.cn/1rBVCUCi24M 即可进入参与互动交流。投资者可于 2025 年 9 月 25 日前登录上述网址进行会前 提问，公司将通过本次业绩说明会，在信息披露允许范围内就投资者普遍关注的 问题进行回答。 1 三、联系方式 深圳市赢合科技股份有限公司（以下简称"公司"）于 2025 年 8 月 23 日在 巨潮资讯网（www.cninfo.com.cn）披露了公司《2025 年半年度报告》及《2025 年半 ...