Core Points - The stock price of Lian De Equipment increased by 2.00% on October 29, reaching 31.11 CNY per share, with a trading volume of 127 million CNY and a market capitalization of 5.77 billion CNY [1] - Year-to-date, the stock price has decreased by 0.06%, with a recent 5-day increase of 4.82% and a 20-day decrease of 4.54% [2] - As of September 30, 2025, Lian De Equipment reported a revenue of 934 million CNY, a year-on-year decrease of 6.97%, and a net profit of 96.61 million CNY, down 50.47% year-on-year [2] Financial Performance - The company has cumulatively distributed 158 million CNY in dividends since its A-share listing, with 80.45 million CNY distributed over the past three years [3] - The top ten circulating shareholders include new entrants such as Hong Kong Central Clearing Limited and several funds, indicating a shift in institutional holdings [3] Business Overview - Lian De Equipment, established on June 7, 2002, and listed on September 28, 2016, specializes in electronic equipment and solutions, with 98.18% of its revenue coming from equipment sales [2] - The company operates within the electronic-optical optoelectronics panel industry and is involved in various concepts such as packaging testing, full-screen technology, and mixed reality [2]

Core Viewpoint - The company announced a delay in the expected operational status dates for three major investment projects from October 31, 2025, to October 31, 2027, to mitigate investment risks and enhance fund utilization efficiency [2][3] Group 1: Project Background - In 2020, the company received approval from the China Securities Regulatory Commission to issue 31.5789 million shares at a price of 19 yuan per share, raising approximately 599.999993 million yuan, with a net amount of about 589.03045427 million yuan after deducting issuance costs [2] - The funds were initially allocated to four major projects, including automotive electronic display equipment, large-size TV module equipment, semiconductor packaging and testing equipment, and working capital [2] Group 2: Investment Allocation - The total investment amounts and fund allocations for the projects are as follows: - Automotive electronic display equipment: Total investment of 285.2537 million yuan, with 169.0305 million yuan from raised funds, and cumulative investment of 107.3642 million yuan as of September 30, 2025 - Large-size TV module equipment: Total investment of 187.1524 million yuan, with 120 million yuan from raised funds, and cumulative investment of 72.4153 million yuan - Semiconductor packaging and testing equipment: Total investment of 195.1552 million yuan, with 120 million yuan from raised funds, and cumulative investment of 74.1974 million yuan - Working capital: Total investment of 180 million yuan, fully funded by raised funds [2] Group 3: Project Implementation Adjustments - The company has previously adjusted the implementation methods for the investment projects, including changing from capital increase to loans and back to capital increase to better align with actual project needs [3] - The company approved the use of raised funds to replace self-raised funds and issuance costs, totaling approximately 180.83746012 million yuan [3] Group 4: Reasons for Delay - The delay in project timelines is attributed to macroeconomic fluctuations, changes in the external environment, and adjustments in business development, aiming to avoid low capacity utilization despite high capital investment [3] - The projects are managed by the wholly-owned subsidiary Dongguan Lianpeng, located in Dongguan, Guangdong Province, and involve factory construction and equipment procurement [3] Group 5: Strategic Importance - The investment projects are essential for expanding existing business operations, enhancing production capacity, increasing market share, and solidifying the company's industry position, aligning with the overall strategic planning and development needs [4] - The company plans to proceed with project implementation steadily while monitoring macroeconomic conditions, downstream market demand, and order situations, allowing for timely adjustments in funding arrangements [4]

Core Insights - Lian De Equipment (300545.SZ) reported its Q3 2025 results, revealing that as of October 27, 2025, six institutional investors held a total of 8.3551 million shares, representing 4.51% of the company's total equity [1] - The institutional ownership increased by 1.41 percentage points compared to the previous quarter [1] Institutional Investors - The institutional investors include Hong Kong Central Clearing Limited, Industrial and Commercial Bank of China - Golden Eagle Technology Innovation Equity Fund, Industrial and Commercial Bank of China - Golden Eagle Core Resource Mixed Fund, Ping An Fund - Ping An Life Insurance - Dividend - Individual Insurance Dividend - Ping An Fund Equity Entrusted Investment No. 2, Bank of Communications - Golden Eagle National Emerging Flexible Allocation Mixed Fund, and Agricultural Bank of China - Golden Eagle Technology Zhiyuan Mixed Fund [1] - The total institutional holding percentage rose to 4.51% [1] Public Funds - Three new public funds were disclosed this period compared to the previous quarter, including Golden Eagle Technology Innovation Stock A, Golden Eagle Core Resource Mixed A, and Golden Eagle National Emerging Mixed A [1] - A total of 39 public funds were not disclosed this period, including Huabao Power Combination Mixed A, Boying Hongli Income Mixed A, Guoshou Anbao Growth Preferred Stock A, Huaxia Hope Bond A, and Huabao Industry Selection Mixed [1] Foreign Investment - One new foreign institution was disclosed this period, namely Hong Kong Central Clearing Limited [2]

Core Viewpoint - The company reported a decline in both revenue and net profit for the first three quarters of 2025 compared to the previous year [1] Financial Performance - The company's operating revenue for the first three quarters was 934 million yuan, representing a year-on-year decrease of 6.97% [1] - The net profit attributable to shareholders of the listed company was 96.61 million yuan, down 50.47% year-on-year [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 96.60 million yuan, a decrease of 49.84% year-on-year [1] - The basic earnings per share were 0.53 yuan [1]

东方证券股份有限公司 关于深圳市联得自动化装备股份有限公司 募集资金投资项目延期的核查意见 | 序号 | 募集资金投资项目 | | 投资总额 | | --- | --- | --- | --- | | 1 | 汽车电子显示智能装备建设项目 | | 28,525.37 | | 2 | 大尺寸 TV | 模组智能装备建设项目 | 18,715.24 | | 3 | 半导体封测智能装备建设项目 | | 19,515.52 | | 4 | 补充流动资金项目 | | 18,000.00 | 二、募集资金使用情况 公司募集资金使用情况如下： 东方证券股份有限公司（以下简称"保荐机构"）作为深圳市联得自动化装 备股份有限公司（以下简称"联得装备"、"公司"）向特定对象发行股票的保荐 机构，根据《证券发行上市保荐业务管理办法》《深圳证券交易所创业板股票上 市规则》《深圳证券交易所上市公司自律监管指引第 2 号——创业板上市公司规 范运作》等有关规定的要求，对联得装备募集资金投资项目延期事项进行了核查， 并出具核查意见如下： 深圳市联得自动化装备股份有限公司（以下简称"公司"）于 2025 年 10 月 27 日召开第五届董事 ...

深圳市联得自动化装备股份有限公司（以下简称"公司"）《2025 年第三季度报告》 于 2025 年 10 月 28 日 刊 登在 中 国 证监 会 指 定的 创 业 板信 息 披 露网 站 巨 潮资 讯 网 （http://www.cninfo.com.cn）上，敬请投资者注意查阅。 特此公告。 深圳市联得自动化装备股份有限公司 董事会 2025 年 10 月 28 日 证券代码：300545 证券简称：联得装备 公告编号：2025-077 深圳市联得自动化装备股份有限公司 关于 2025 年第三季度报告披露提示性公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假记载、误 导性陈述或重大遗漏。 ...

证券代码：300545 证券简称：联得装备 公告编号：2025-079 单位：万元 | 序号 | 募集资金投资项目 | | 投资总额 | | --- | --- | --- | --- | | 1 | 汽车电子显示智能装备建设项目 | | 28,525.37 | | 2 | 大尺寸 TV | 模组智能装备建设项目 | 18,715.24 | | 3 | 半导体封测智能装备建设项目 | | 19,515.52 | | 4 | 补充流动资金项目 | | 18,000.00 | 二、募集资金使用情况 1 深圳市联得自动化装备股份有限公司 关于募集资金投资项目延期的公告 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。 深圳市联得自动化装备股份有限公司（以下简称"公司"）于 2025 年 10 月 27 日召开 第五届董事会第十次会议，审议通过了《关于募集资金投资项目延期的议案》。为降低募集 资金的投资风险，提升募集资金使用效率，保障资金的安全、合理运用，本着对投资者负责 及谨慎投资的原则，结合目前项目实际开展情况，公司决定对投资项目进行延期，其中汽车 电子显示智能装备 ...

证券代码：300545 证券简称：联得装备 公告编号：2025-076 深圳市联得自动化装备股份有限公司 第五届监事会第八次会议决议公告 本公司及监事会全体成员保证公告内容真实、准确和完整，公告不存在虚假记载、 误导性陈述或者重大遗漏。 一、监事会会议召开情况 （一）审议通过《关于公司 2025 年第三季度报告的议案》 经审核，与会监事认为：公司 2025 年第三季度报告的程序符合法律、行政法规和证监 会与交易所的规定，报告内容真实、准确、完整地反映了公司 2025 年第三季度经营的实际 情况，不存在任何虚假记载、误导性陈述或者重大遗漏。 具体内容详见公司同日披露于巨潮资讯网（http://www.cninfo.com.cn）上的《2025 年第 三季度报告》。 表决结果：同意票 3 票，反对票 0 票，弃权票 0 票，表决通过。 （二）审议通过《关于募集资金投资项目延期的议案》 具体内容详见公司同日披露于巨潮资讯网（http://www.cninfo.com.cn）上的《关于募集 资金投资项目延期的公告》。 表决结果：同意票 3 票，反对票 0 票，弃权票 0 票，表决通过。 保荐机构东方证券股份有限公司出 ...

证券代码：300545 证券简称：联得装备 公告编号：2025-075 深圳市联得自动化装备股份有限公司 本议案已经第五届董事会审计委员会第八次会议审议通过。 第五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。 一、董事会会议召开情况 深圳市联得自动化装备股份有限公司（以下简称"公司"）第五届董事会第十次会议于 2025 年 10 月 27 日在东莞联鹏智能装备有限公司 10 层会议室，以现场表决方式召开。本次 会议通知于 2025 年 10 月 23 日以专人送达及电话等方式发出。本次会议由董事长聂泉先生 主持，会议应出席董事 6 名，实际出席董事 6 名。会议的召集、召开符合有关法律、行政法 规、部门规章、规范性文件和《公司章程》的规定。 二、 董事会会议审议情况 经与会董事审议，通过了以下议案： （一）审议通过《关于公司 2025 年第三季度报告的议案》 经审议，与会董事认为：2025 年第三季度报告内容真实、准确、完整地反映了公司 2025 年第三季度经营的实际情况，不存在任何虚假记载、误导性陈述或者重大遗漏。 具体内容详见 ...

Revenue and Profit - Revenue for the third quarter was ¥297,383,458.64, a decrease of 10.26% compared to the same period last year[5] - Net profit attributable to shareholders was ¥23,506,344.17, down 71.66% year-on-year[5] - Basic earnings per share decreased by 72.34% to ¥0.13[5] - Total operating revenue for the current period was ¥934,066,830.66, a decrease of 6.9% from ¥1,004,018,678.26 in the previous period[23] - Net profit for the current period was ¥96,608,663.12, down 50.1% from ¥193,953,874.56 in the previous period[24] - Operating profit decreased to ¥127,962,912.45, a decline of 45.3% compared to ¥234,494,455.86 in the previous period[24] - The basic earnings per share (EPS) decreased to ¥0.53 from ¥1.10, reflecting a decline of approximately 51.8%[25] - The diluted earnings per share (EPS) also fell to ¥0.53 from ¥1.06, a decrease of around 50.0%[25] Assets and Liabilities - Total assets increased by 5.60% to ¥2,941,832,915.99 compared to the end of the previous year[5] - The total assets amounted to ¥2,941,832,915.99, an increase from ¥2,785,857,068.75 in the previous period[21] - Total liabilities decreased to ¥806,341,967.08 from ¥847,148,661.50 in the previous period[21] - Owner's equity attributable to shareholders rose by 10.15% to ¥2,135,490,948.91[5] - The company's equity increased to ¥2,135,490,948.91, up from ¥1,938,708,407.25 in the previous period[21] Cash Flow - Cash flow from operating activities for the year-to-date increased by 25.12% to ¥210,158,217.66[5] - The net cash flow from operating activities increased to ¥210,158,217.66, up from ¥167,971,655.92 in the previous period, representing a growth of approximately 25.0%[26] - Total cash inflow from operating activities was ¥935,137,875.00, compared to ¥1,199,271,725.19 in the previous period, indicating a decrease of about 22.0%[26] - The net cash flow from financing activities was negative at -¥15,730,943.64, an improvement from -¥131,574,006.11 in the previous period[26] - Cash outflow from financing activities decreased to ¥267,044,075.42 from ¥423,126,407.16, a reduction of approximately 37.0%[26] - Cash outflow for purchasing goods and services was ¥379,166,505.61, down from ¥626,216,352.94, indicating a decrease of about 39.5%[26] - The company received cash from investment activities totaling ¥12,601,810.00, compared to ¥12,011,520.00 in the previous period, showing a slight increase of about 4.9%[26] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 20,513[12] - The largest shareholder, Nie Quan, holds 44.50% of the shares, totaling 82,527,303 shares[12] Assets Composition - The total current assets of Shenzhen LianDe Automation Equipment Co., Ltd. increased to CNY 1,958,284,650.51 from CNY 1,776,886,886.97, reflecting a growth of approximately 10.2%[18] - Accounts receivable rose to CNY 758,246,018.69 from CNY 603,616,692.21, representing an increase of about 25.6%[19] - Cash and cash equivalents increased to CNY 474,450,629.30 from CNY 355,077,810.47, marking a growth of approximately 33.5%[18] - Inventory decreased to CNY 595,659,382.81 from CNY 655,856,636.88, indicating a decline of about 9.2%[19] - The total non-current assets remained stable with fixed assets reported at CNY 794,438,940.30, down from CNY 832,142,201.24[19] - The company reported a significant increase of 1890.51% in construction in progress due to renovations of the company building[9] - The company reported a significant increase in prepayments, rising to CNY 7,053,766.51 from CNY 4,103,546.86, which is an increase of approximately 72.3%[19] Stock and Incentives - The company approved the vesting of 781,750 restricted stock units at an adjusted grant price of CNY 16.12 per share[16] - The total number of restricted shares held by executives increased to 89,250 shares after the current period's addition of 38,250 shares[15] - The company held a board meeting to discuss adjustments to the 2023 restricted stock incentive plan, including changes to grant prices and vesting conditions[16] - The company did not report any changes in the number of preferred shareholders or any significant changes in restricted shares for the current period[14] Research and Development - Research and development expenses were ¥74,522,453.83, down 10.8% from ¥83,420,347.64 in the previous period[23] Tax and Other Income - The company reported a tax expense of ¥29,190,347.57, compared to ¥40,499,194.96 in the previous period[24] - Other comprehensive income after tax was ¥122,127.31, compared to a loss of ¥1,713.07 in the previous period[24] Audit Information - The company did not undergo an audit for the third quarter financial report[27]