| 证券代码：300488 | 证券简称：恒锋工具 | 公告编号：2025-039 | | --- | --- | --- | | 债券代码：123239 | 债券简称：锋工转债 | | 恒锋工具股份有限公司关于 高级管理人员减持股份的预披露公告 公司于近日分别收到高级管理人员姚海峰先生、何勤松先生、周姚娟女士、 郑继良先生出具的《关于计划减持公司股份的告知函》，现将有关情况公告如下： 序号 股东名称 股东身份 持股数量（股） 占公司总股本比例 1 姚海峰 副总经理 33,694 0.0198% 2 何勤松 副总经理 33,694 0.0198% 3 周姚娟 副总经理 33,694 0.0198% 4 郑继良 财务总监 30,806 0.0181% 一、股东的基本情况 高级管理人员姚海峰先生、何勤松先生、周姚娟女士、郑继良先生保证向本 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。 特别提示： 1.持有恒锋工具股份有限公司（以下简称"公司"或"本公司"）股份33,694 股（占本公司总股本比例 0.0198%,公司总 ...

Group 1 - The core viewpoint of the article highlights a rebound in the robotics sector, with Dongbei Group (601956) hitting the daily limit up, indicating strong investor interest [1] - Other companies in the robotics sector, such as Aishida (002403), Lingyun Optics, Jiangsu Beiren, Zhongdali De (002896), and Hengfeng Tools (300488), also experienced significant gains, reflecting a broader positive trend in the industry [1] - There is an influx of dark pool capital into these stocks, suggesting increased speculative trading activity and potential future volatility [1]

2024 年年度股东大会决议公告 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。 | 证券代码：300488 | 证券简称：恒锋工具 | 公告编号：2025-038 | | --- | --- | --- | | 债券代码：123239 | 债券简称：锋工转债 | | 恒锋工具股份有限公司 特别提示： 1.本次股东大会无否决议案的情形。 2.本次股东大会未涉及变更前次股东大会决议的情形。 3.本次股东大会采取现场投票与网络投票相结合的表决方式。 一、会议召开和出席情况 （一）会议召开情况 1.会议召开的时间： 现场会议召开时间：2025 年 5 月 19 日（星期一）下午 14:00。 网络投票时间： （1）通过深圳证券交易所交易系统进行网络投票的具体时间为：2025 年 5 月 19 日的交易时间，即 9:15-9:25，9:30-11:30 和 13:00-15:00； （2）通过深圳证券交易所互联网投票系统进行网络投票的具体时间为：2025 年 5 月 19 日 9:15-15:00 期间的任意时间。 2.现场会议召开地点：浙江省嘉兴市海盐县武原街道海兴 ...

恒锋工具股份有限公司 2024 年年度股东大会之 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 国浩律师（杭州）事务所 关 于 电子邮箱/Mail：grandallhz@grandall.com.cn 网址/Website：http://www.grandall.com.cn 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 恒锋工具股份有限公司 2024 年年度股东大会之 法律意见书 致：恒锋工具股份有限公司 国浩律师（杭州）事务所（以下简称"本所"）接受恒锋工具股份有限公司 （以下简称"公司"）委托，指派本所律师出席公司 2024 年年度股东大会（以 下简称"本次股东大会"），并根据《中华人民共和国公司法》（以下简称 ...

Group 1: Business Focus and Revenue Structure - The company focuses on two main product categories: precision complex cutting tools and precision efficient cutting tools, which accounted for 61.42% and 21.90% of total revenue in 2024, respectively [1] - The revenue from precision efficient cutting tools increased by 31.82% year-on-year in 2024 [1] Group 2: Financial Performance - In 2024, the company achieved total revenue of 608 million yuan, an increase of 8.39% compared to the previous year [4] - The net profit attributable to shareholders was 129 million yuan, a decrease of 4.39% year-on-year, primarily due to convertible bond interest expenses of 23.39 million yuan [4] - Excluding the impact of convertible bond interest adjustments, the net profit would have been 151 million yuan, reflecting a growth of 12.04% year-on-year [4] - In Q1 2025, total revenue reached 149 million yuan, marking a 19.10% increase year-on-year [4] Group 3: Future Plans and Market Expansion - The company plans to optimize its financial structure and may consider early redemption of convertible bonds if conditions are met [2] - A financing of 620 million yuan was raised through convertible bonds in 2024, with no further financing plans currently [2] - The company has initiated trial production in the humanoid robot rolling screw processing tool sector, with expectations for future contributions to performance [2] - The company aims for overseas market revenue to reach approximately 10%-15% within the next 1-2 years [6] Group 4: Strategic Development and Market Trends - The company is focused on enhancing product cost-performance and expanding its share in high-end markets by improving tool life, cutting efficiency, and processing quality [5] - Key drivers for future profit growth include the development speed of downstream industries (automotive, aerospace, robotics), increased R&D investment, and improved internal management [5] - The company is committed to enhancing brand recognition and influence in both domestic and international markets, particularly in emerging sectors like humanoid robotics [6] - The tool industry is undergoing structural adjustments, presenting both opportunities and challenges, with a shift towards high-efficiency tools and intelligent manufacturing [7]

Financial Performance - In 2024, the company achieved total revenue of CNY 608 million, an increase of 8.39% year-on-year [1] - The net profit attributable to shareholders was CNY 129 million, a decrease of 4.39% compared to the previous year [1] - In Q1 2025, the company reported total revenue of CNY 149 million, a growth of 19.10% year-on-year [2] - The net profit attributable to shareholders in Q1 2025 was CNY 28 million, an increase of 8.26% compared to the same period last year [2] Profitability Metrics - The overall gross margin for 2024 was 44.77%, down from 46.12% in 2023, a decline of 1.35 percentage points [2] - The increase in revenue from precision high-efficiency tools, which have a lower gross margin, contributed to the decline in overall gross margin [2] - The share of revenue from precision high-efficiency tools rose from 18.01% in 2023 to 21.90% in 2024 [2] Future Outlook - The company aims to achieve a consolidated revenue of over CNY 680 million in 2025 [4] - The growth is supported by the expansion of production capacity and the maturity of product technology [4] - The company expects a significant decrease in convertible bond interest expenses starting from Q2 2025 [4] Market Impact - The company has a wholly-owned subsidiary in the U.S., which is not significantly affected by the recent high tariffs, as less than 5% of total revenue comes from exports to the U.S. [4] - The company is exploring potential mergers and acquisitions to strengthen its core business [4]

Summary of the Conference Call for Hengfeng Tools Company Overview - Hengfeng Tools reported a revenue of 1.04 billion in 2024, a year-on-year decrease of 3.17%, primarily due to convertible bond interest expenses. Excluding these expenses, net profit increased by 12.04% to 1.51 billion [2][3] - In Q1 2025, revenue reached 1.48 billion, a year-on-year increase of 19%, with net profit at 28.29 million, up 8% [2][3] Revenue Growth by Product Category - Revenue from precision complex products grew by approximately 10 million, while precision efficient products like steel plate drills and thread tools increased by about 13 million and 10 million respectively, with thread tool revenue reaching 18 million [2][4][5] - Overall, revenue growth across various segments was approximately 8% [5] Order and Demand Insights - In Q1 2025, the company reported a 15% year-on-year increase in orders, indicating robust demand [6] - Direct exports to the U.S. account for only 3%-4% of total business, with limited impact from U.S. tariffs; however, indirect effects on domestic clients with U.S. business need monitoring [7] Robotics Sector Engagement - The number of clients in the humanoid robotics sector has increased, but the industry has not yet reached a stage of mass production, thus having a limited impact on overall performance [8] - The company has a low dependency on imported materials, using 70% domestic materials [8] Convertible Bond Strategy - Hengfeng Tools is inclined to achieve natural conversion of convertible bonds through market price changes, with remaining debt around 450 million and cash holdings of approximately 150 million [9] Profitability and Margin Analysis - The gross margin for precision complex products is high, while precision efficient products have a medium margin. As production capacity for precision efficient products expands, the overall gross margin may decline [4][11] - The company invests about 5%-6% of revenue in R&D, focusing on its own product lines rather than specific client products [15] Customer Structure and Market Position - The top five customers account for less than 25% of total revenue, indicating a diversified customer base [16] - The company does not currently plan to expand manufacturing overseas to address U.S. tariff issues but may consider it if tariffs persist in the next two to three years [17] Future Outlook - The company expects revenue growth to remain above 10% for 2025, with net profit growth anticipated to align with revenue growth as the impact of convertible bonds diminishes [20][21] - The humanoid robotics sector is seen as a potential growth area, although significant challenges remain before achieving mass production [23]

Company Overview - Hengfeng Tools (300488) announced its 2024 annual report, highlighting its focus on the emerging humanoid robot industry and related products such as planetary roller screw and precision reducer [1] - The company achieved total operating revenue of 608 million yuan, a year-on-year increase of 8.39%, and a net profit attributable to shareholders of 129 million yuan, a year-on-year decrease of 4.39% [1] - The decline in net profit is primarily attributed to the provision for convertible bond interest expenses amounting to 23.39 million yuan, with an adjusted net profit of 151 million yuan, reflecting a growth of 12.04% compared to the previous year [1] Product Development - Hengfeng Tools specializes in the research, manufacturing, and operational services of precision tools, which are critical components in high-end equipment manufacturing [1] - The company is actively developing gear tools, precision thread tools, and precision measuring tools for the humanoid robot industry, currently in the initial development and trial production stages [2] - The company has established a strong customer base in the industrial robot and intelligent drive precision reducer processing sectors, with its product recognized as a key product in Zhejiang Province [2] Industry Outlook - The company expresses confidence in the development of the humanoid robot industry, aligning its strategic focus on the processing of key components such as planetary roller screws and precision reducers [2] - The tool industry is undergoing structural adjustments, presenting both opportunities and challenges, driven by the modernization of traditional manufacturing and the rapid development of advanced high-end equipment manufacturing sectors [3] - The ongoing transformation in the tool industry is expected to continue as the market evolves, influenced by the growth of sectors like automotive, aerospace, and robotics [3]

一、主要会计数据和财务指标 前十大流通股东累计持有： 10243.19万股，累计占流通股比： 71.05%，较上期变化： 99.44万股。 | 名称 | 持有数量(万股) | 占总股本比例 | 增减情况(万 | | --- | --- | --- | --- | | | | (%) | 股) | | 恒锋控股有限公司 | 8190.15 | 56.82 | 不变 | | 郑国基 | 728.65 | 5.05 | -47.75 | | 陈尔容 | 361.05 | 2.50 | 不变 | | 陈子彦 | 361.05 | 2.50 | 不变 | | 陈子怡 | 240.70 | 1.67 | 不变 | | 彭朝晖 | 100.00 | 0.69 | 新进 | | UBS AG | 96.59 | 0.67 | 新进 | | 上海浦泓私募基金管理有限公司-浦泓总回报私募证券 投资基金 | 65.00 | 0.45 | 新进 | | MORGAN STANLEY & CO. INTERNATIONAL PLC | 56.00 | 0.39 | 19.25 | | 上海浦泓私募基金管理有限公司-浦泓瑞福私募证券投 ...

前十大流通股东累计持有： 10143.75万股，累计占流通股比： 74.2%，较上期变化： 30.42万股。 | 名称 | 持有数量(万股) | 占总股本比例 (%) | 增减情况(万 股) | | --- | --- | --- | --- | | 恒锋控股有限公司 | 8190.15 | 59.91 | 不变 | | 郑国基 | 776.40 | 5.68 | -7.52 | | 陈尔容 | 361.05 | 2.64 | 不变 | | 陈子彦 | 361.05 | 2.64 | 不变 | | 陈子怡 | 240.70 | 1.76 | 不变 | | 兴全合远两年持有混合A | 52.44 | 0.38 | 新进 | | 山东世通国际认证有限公司 | 50.58 | 0.37 | 新进 | | 金耀 | 39.59 | 0.29 | -5.00 | | MORGAN STANLEY & CO. INTERNATIONAL PLC. | 36.75 | 0.27 | 新进 | | 苏传英 | 35.04 | 0.26 | -28.95 | | 较上个报告期退出前十大股东有 | | | | | 夏雪琴 | 2 ...