Core Viewpoint - The company, Zhongmi Holdings (300470.SZ), has indicated that its products currently do not have any commercial orders in the aerospace sector [1] Group 1 - The company has communicated with investors through an interactive platform [1] - There is a lack of commercial orders for the company's products in the aerospace field [1]

Group 1 - The company, Zhongmi Holdings (300470.SZ), has indicated that its products can be applied in thorium-based nuclear reactors [1]

Core Viewpoint - The company, Zhongmi Holdings (300470.SZ), has indicated that its products have mature applications in the marine oil and gas extraction and transportation sectors, while deep-sea applications are still in the exploratory phase, resulting in minimal impact on revenue [1] Group 1 - The company's products are well-established in marine oil and gas extraction and transportation [1] - The subsidiary, Youtaike, has limited applications in deep-sea exploration [1] - Demand for the company's products in deep-sea applications is currently low, with negligible effects on revenue [1]

Group 1: Company Involvement in Projects - The company has products applied in major hydropower projects, such as the Baihetan and Wudongde hydropower stations [2][3] - The company is actively monitoring the Yarlung Tsangpo River downstream hydropower project, which has uncertain demand and order volume for the company’s products [3] Group 2: Market Trends and Product Demand - The frequency of seal replacements has not significantly decreased despite economic pressures; however, some clients have shown a slight increase in repair over replacement [3][4] - The value of sealing products is low in the total investment of projects, but timely replacement is crucial for the stable operation of equipment [3] Group 3: Quality and Lifespan of Sealing Products - As the petrochemical industry advances, the quality requirements for sealing products are increasing due to longer maintenance cycles [4] - The average lifespan of sealing products is gradually increasing, but this will have a slow impact on the replacement cycle in the existing market [5]

一、公司新换发《营业执照》具体内容 统一社会信用代码：91510000621607817X 证券代码：300470 证券简称：中密控股 公告编号：2025-030 中密控股股份有限公司 关于完成工商变更登记并换发营业执照的公告 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。 中密控股股份有限公司（以下简称"公司"）于 2025 年 4 月 11 日召开第六 届董事会第五次会议、于 2025 年 5 月 7 日召开 2024 年年度股东会，分别审议通 过了《关于注销回购股份暨减少公司注册资本的议案》，具体内容详见公司刊登 在中国证监会指定创业板信息披露媒体巨潮资讯网（http://www.cninfo.com.cn） 的相关公告。 公司于近日完成相关工商变更登记手续，并取得成都市市场监督管理局换发 的《营业执照》。 含特种设备制造）；气压动力机械及元件销售；气压动力机械及元件制造；密封 用填料销售；高性能密封材料销售；高品质合成橡胶销售；数控机床销售；泵及 真空设备制造；泵及真空设备销售。（除依法须经批准的项目外，凭营业执照依 法自主开展经营活动）许可项目：特种 ...

Group 1 - The core viewpoint of the article is that Zhongmi Holdings' subsidiary, Youtaike, is a key supplier of sealing rings for shield tunneling machines in China [1] - Youtaike's clients include China Railway Industry and China Railway Construction Heavy Industry [1]

Core Points - The company completed a share buyback program, repurchasing a total of 2,818,700 shares at a maximum price of 41.28 CNY per share and a minimum price of 33.18 CNY per share, with a total transaction amount of 104,200,187.35 CNY [1] - Following the buyback, the total share capital decreased from 208,171,277 shares to 207,961,737 shares due to the cancellation of 209,540 shares [3][6] - The company’s major shareholder, Sichuan Chuanji Investment Co., Ltd., retained its shareholding of 45,970,265 shares, with a negligible change in ownership percentage [6] Buyback Implementation - The buyback was conducted through centralized bidding for the purpose of implementing employee stock ownership plans or equity incentive plans [1][2] - The total number of shares repurchased in the second buyback was 1,993,840 shares, with a total amount of 71,433,281.44 CNY [2] Share Cancellation Process - The company held board meetings to approve the cancellation of the unused shares from the buyback, which was completed on July 11, 2025 [2][6] - The cancellation of shares complies with relevant laws and regulations, and the company will proceed with necessary changes to its business registration and articles of association [6] Post-Cancellation Share Structure - After the cancellation, the share structure was updated, with the total share capital now at 207,961,737 shares [3][6] - The shareholding structure remains largely unchanged for major stakeholders, with the overall impact on ownership percentages being minimal [6]

证券代码：300470 证券简称：中密控股 公告编号：2025-029 中密控股股份有限公司 关于回购股份注销完成暨股份变动公告 根据《中华人民共和国公司法》《深圳证券交易所上市公司自律监管指引第 9 号——回购股份》等相关法律法规规定，现就本次回购股份注销完成暨股份变 动的具体情况公告如下： 一、回购股份的实施情况 1、公司于 2022 年 4 月 24 日至 2023 年 4 月 23 日期间实施公司股份回购， 采取集中竞价交易方式回购公司 A 股普通股股份，用于实施公司员工持股计划或 股权激励计划，累计回购股份数量为 2,818,700 股，最高成交价为 41.28 元/股， 最低成交价为 33.18 元/股，成交总金额为 104,200,187.35 元（不含交易费用）， 具体内容详见公司于 2023 年 4 月 26 日刊登在中国证监会指定的创业板信息披 露媒体巨潮资讯网（http://www.cninfo.com.cn）的《关于回购股份实施结果暨 股份变动的公告》。 2、公司于 2024 年 4 月 23 日至 2024 年 7 月 31 日期间实施公司股份回购， 采取集中竞价交易方式回购公司 A ...

Group 1: Business Performance - The gross margin difference between incremental and stock business is significant due to different pricing mechanisms and purchasing entities [2][3] - Incremental business pricing is primarily determined by project bidding results, while stock business pricing is negotiated with end-users [2] Group 2: Product Application - The company's mechanical seal products are mainly used in rotating equipment, and there is currently no identified demand for mechanical seals in the nuclear fusion sector [2] Group 3: Mergers and Acquisitions Strategy - Mergers and acquisitions are a long-term strategy for the company, focusing on high-risk investments without short-term targets [3] - The company emphasizes the importance of integration post-acquisition, having developed a suitable integration plan through experience from four previous acquisitions [3] - The company aims to maintain long-term relationships with suitable acquisition targets and will prioritize core competencies in the sealing industry for any cross-industry mergers [3] Group 4: Capacity Investment - The input-output ratio for newly added equipment in the mechanical seal sector is approximately 1:10, excluding land and factory costs [3]

Group 1: Company Research - Hengshuai Co., Ltd. focuses on cleaning services (46.3%) and motor business (45.6%), with plans to expand into in-car motors and chassis fields, particularly in high-torque harmonic brushless motors [1] - The traditional cleaning market is highly competitive with price wars, while the micro-motor market is compact with less competition [1] - DS active sensing cleaning system has secured clients like Waymo, with an annual production capacity of 250,000 units for gas-liquid mixed cleaning systems [1] - The thermal management system business has achieved mass production, with future plans to develop more clients [1] - The company aims to expand into industrial automation and humanoid robot markets [1] Group 2: Industry Insights - Zhongmi Holdings holds a market share of over 20% in the domestic petrochemical sector, with a market share of 60%-70% in the incremental market [1] - International projects have higher requirements, longer construction periods, and greater personnel and language demands compared to domestic projects [1] - Gross margins for incremental international business are slightly higher than domestic, while gross margins for existing domestic business are expected to remain high [1] - The gross margin for domestic incremental business is already low, with limited potential for further decline, indicating market concentration towards leading enterprises [1] Group 3: Fund Performance - Baoying Fund, established in 2001, has an asset management scale of 80.372 billion yuan, ranking 66th out of 210 [2] - The non-monetary public fund asset management scale is 51.118 billion yuan, ranking 74th out of 210 [2] - The fund manages 122 public funds, ranking 63rd out of 210, with 18 public fund managers, ranking 73rd out of 210 [2] - The best-performing public fund product in the past year is Baoying New Sharp Mixed A, with a latest unit net value of 2.58 and a growth of 43.17% in the past year [2]