北京金杜（成都）律师事务所 关于中密控股股份有限公司 2025 年第一次临时股东会 之法律意见书 公司已向本所保证，公司已向本所披露一切足以影响本法律意见书出具的事 实并提供了本所为出具本法律意见书所要求公司提供的原始书面材料、副本材料、 复印材料、承诺函或证明，并无隐瞒记载、虚假陈述和重大遗漏之处；公司提供 给本所的文件和材料是真实、准确、完整和有效的，且文件材料为副本或复印件 的，其与原件一致和相符。 在本法律意见书中，本所仅对本次股东会召集和召开的程序、出席本次股东 会人员资格和召集人资格及表决程序、表决结果是否符合有关法律、行政法规、 《股东会规则》和《公司章程》的规定发表意见，并不对本次股东会所审议的议 案内容以及该等议案所表述的事实或数据的真实性和准确性发表意见。本所仅根 据现行有效的中国境内法律法规发表意见，并不根据任何中国境外法律发表意见。 本所依据上述法律、行政法规、规章及规范性文件和《公司章程》的有关规 定以及本法律意见书出具日以前已经发生或者存在的事实，严格履行了法定职责， 遵循了勤勉尽责和诚实信用原则，对公司本次股东会相关事项进行了充分的核查 验证，保证本法律意见书所认定的事实真实、准 ...

证券代码：300470 证券简称：中密控股 公告编号：2025-042 | 序 | 期 | 限 | 名称 | 类型 | 专利号 | 专利权人 | 申请日 | 授权公告日 | 备注 | 号 | （年） | | | | | | | | | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 一 | 种 | 超 | 压 | 保 | 发明 | ZL | 2020 | 1 | 2020 | 年 | 12 | 2025 | 年 | 09 | 月 | 证书号第 | 1 | 中密控股 | 20 | 护装置 | 专利 | 1575475.5 | 月 | 28 | 日 | 09 | 日 | 8239034 | 号 | | 一 | 种 | 具 | 有 | 注 | 实用 | 证书号第 ...

Financial Performance - In the first half of 2025, the company's revenue increased by 18.45%, while the net profit attributable to shareholders grew by only 8.10%, indicating a significant disparity in growth rates [5] - The gross profit margin decreased by 6.6 percentage points to 44.03%, primarily due to intensified competition in incremental business and changes in project structure [5] Cash Flow and Accounts Receivable - The decline in operating cash flow was mainly due to increased cash payments for operating activities rather than an accumulation of accounts receivable [3] - The increase in accounts receivable is attributed to a sustained rise in order volume and revenue, with the company implementing a management approach to track and recover receivables [3][4] Strategic Direction - The company aims to build a large sealing industry cluster and remains committed to developing its sealing business, despite the uncertain macroeconomic environment [3][4] - The "incremental exchange for stock" business model is designed to secure high-margin service demands in the future, with a focus on expanding incremental business [4][5] Market Expansion and International Business - The company reported international business revenue exceeding 85 million yuan in the first half of 2025, reflecting a growth of over 10% [12] - The international strategy focuses on emerging markets along the "Belt and Road" initiative, with significant efforts in the Middle East, Southeast Asia, Central Asia, and Africa [12] Product Development and Innovation - The company is actively exploring new applications for its mechanical seals in various industries, including pharmaceuticals, papermaking, and wastewater treatment [6] - The integration of artificial intelligence in product development is underway, with initiatives like the SIMS product for monitoring seal health [10] Mergers and Acquisitions - The company has successfully integrated past acquisitions, with a focus on organic growth for future international market expansion, while remaining open to strategic acquisitions [12][13] - The ongoing construction of a new plant is expected to be completed by Q1 2027, enhancing production capacity [14]

Group 1 - The company, Zhongmi Holdings (300470), stated on September 10 that its products are not currently applied in underwater robotics [1] - The company's products have established applications in the marine oil and gas extraction and transportation sectors [1]

中密控股（300470.SZ）9月10日在投资者互动平台表示，公司产品暂未应用于水下机器人。公司产品在 海洋油气开采、输送领域有成熟应用。 每经AI快讯，有投资者在投资者互动平台提问：贵公司的密封产品能不能用于水下机器人？以及其他 海洋经济方面的应用？ （文章来源：每日经济新闻） ...

Group 1 - The company, Zhongmi Holdings (300470.SZ), stated that its products are not currently applied in underwater robotics [1] - The company's products have established applications in the marine oil and gas extraction and transportation sectors [1]

完整，没有虚假记载、误导性陈述或重大遗漏。 为加强与投资者的互动交流，中密控股股份有限公司（以下简称"公司"） 将参加由四川省上市公司协会、深圳市全景网络有限公司联合举办的"四川辖区 2025年投资者网上集体接待日及半年度报告业绩说明会"活动，现将相关事项公 告如下： 本次活动将采用网络远程的方式举行，投资者可登录"全景路演"网站 （https://rs.p5w.net）参与本次互动交流，活动时间为2025年9月12日（周五） 14:00-17:00。 届时公司董事兼总经理陈虹先生、董事会秘书沈小华先生及董事会办公室主 任兼证券事务代表梁玉韬先生将在线就公司业绩、公司治理、发展战略、经营状 况、股权激励和可持续发展等投资者关心的问题，与投资者进行沟通与交流，欢 迎广大投资者踊跃参与！ 特此公告。 证券代码：300470 证券简称：中密控股 公告编号：2025-040 中密控股股份有限公司 关于参加四川辖区2025年投资者网上集体接待日及半年度报告 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、 中密控股股份有限公司董事会 二〇二五年九月四日 ...

Core Viewpoint - The stock price of Zhongmi Holdings has shown fluctuations, with a recent decline of 2.02% on September 3, 2023, while the company has experienced a year-to-date increase of 4.06% [1][2]. Company Overview - Zhongmi Holdings, established on September 29, 1993, and listed on June 12, 2015, is located in Chengdu, Sichuan Province. The company specializes in the design, research and development, manufacturing, and sales of various mechanical seals, providing comprehensive technical services [2]. - The main business revenue composition includes: mechanical seals (30.17%), dry gas seals and control systems (26.59%), rubber and plastic seals (11.24%), special valves (8.90%), auxiliary systems for mechanical seals (8.68%), seal product repair (5.49%), spare parts (4.99%), and others (3.27%) [2]. Financial Performance - For the first half of 2025, Zhongmi Holdings achieved operating revenue of 858 million yuan, representing a year-on-year growth of 18.45%. The net profit attributable to the parent company was 187 million yuan, with a year-on-year increase of 8.10% [2]. - Since its A-share listing, Zhongmi Holdings has distributed a total of 815 million yuan in dividends, with 513 million yuan distributed over the past three years [3]. Shareholder Information - As of June 30, 2025, the number of shareholders for Zhongmi Holdings was 14,800, a decrease of 15.39% from the previous period. The average circulating shares per person increased by 18.32% to 13,308 shares [2]. - The top ten circulating shareholders include Hong Kong Central Clearing Limited as the second-largest shareholder, holding 19.52 million shares, an increase of 690,100 shares from the previous period [3].

Core Viewpoint - Company reported steady growth in operating performance for the first half of 2025, with revenue increasing by 18.45% year-on-year and net profit rising by 8.1% [2][7] Group 1: Financial Performance - Total revenue for the first half of 2025 reached 858 million yuan, a year-on-year increase of 18.45% [7] - Net profit attributable to shareholders was 187 million yuan, up 8.1% year-on-year, while the net profit excluding the impact of the 2024 restricted stock incentive plan increased by 16.76% [2][7] - The second quarter of 2025 saw revenue of 447 million yuan, a 15.38% increase year-on-year, and net profit of approximately 93 million yuan, up 2.85% [7] Group 2: Business Segments - The mechanical seal segment experienced growth driven by domestic market expansion and the acquisition of KS GmbH, despite intense competition and a decline in new large petrochemical projects [2][3] - The rubber and plastic sealing segment, particularly the subsidiary Youtaike, maintained stable revenue of approximately 74.26 million yuan, with a net profit increase of 13.04% [3] - The special pumps and valves segment saw improved performance, with significant orders secured in various markets, indicating a positive outlook for the year [3] Group 3: International Business Outlook - The company anticipates continued growth in international business, with a notable increase in order volume and brand recognition in recent years [4] - The international business team has matured, enhancing the company's ability to secure orders, although growth rates may slow compared to previous years [4] Group 4: Profitability and Orders - The overall gross profit margin for the first half of 2025 was 44.03%, a decrease of 3.11% year-on-year, attributed to variations in project margins and the consolidation of KS GmbH [5] - The company maintains a high level of orders on hand, with a slight increase in the proportion of new business compared to existing business [6]

Core Viewpoint - Zhongmi Holdings (300470) has recently conducted institutional research, highlighting the launch of two new types of dexterous hands and control systems by its subsidiary, Zhongke Lingxi, in May [1] Group 1: Product Development - The company introduced a rod-type and rope-driven dexterous hand along with a control system in May [1] - In August, the company launched an intelligent upgrade product and a high-load servo cylinder dexterous hand, achieving upgrades in driving, sensing, and control technologies [1] Group 2: Strategic Initiatives - The company plans to leverage its component product platform resources to comprehensively empower Zhongke Lingxi [1] - The focus will be on supporting highly customized designs and manufacturing of dexterous hands, promoting the iterative upgrade of dexterous hand products [1]