| 证券代码：300739 | 证券简称：明阳电路 | 公告编号：2025-087 | | --- | --- | --- | | 债券代码：123087 | 债券简称：明电转债 | | | 债券代码：123203 | 债券简称：明电转 02 | | 深圳明阳电路科技股份有限公司 关于提前赎回"明电转债"的第十二次提示性公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有 虚假记载、误导性陈述或重大遗漏。 特别提示： 1．"明电转债"赎回价格：101.83 元/张（含当期应计利息，当期年利率为 2.5%，且当期利息含税），扣税后的赎回价格以中国证券登记结算有限责任公司 深圳分公司（以下简称"中国结算"）核准的价格为准。 10．根据安排，截至 2025 年 9 月 5 日收市后仍未转股的"明电转债"将被 强制赎回，本次赎回完成后，"明电转债"将在深圳证券交易所（以下简称"深 交所"）摘牌，特提醒"明电转债"持券人注意在限期内转股。债券持有人持有 的"明电转债"如存在被质押或被冻结的，建议在停止转股日前解除质押或冻结， 以免出现因无法转股而被赎回的情形。 11．债券持有人若转股，需开通创业板交易权 ...

特别提示： 1．"明电转债"赎回价格：101.83 元/张（含当期应计利息，当期年利率为 2.5%，且当期利息含税），扣税后的赎回价格以中国证券登记结算有限责任公司 深圳分公司（以下简称"中国结算"）核准的价格为准。 10．根据安排，截至 2025 年 9 月 5 日收市后仍未转股的"明电转债"将被 强制赎回，本次赎回完成后，"明电转债"将在深圳证券交易所（以下简称"深 交所"）摘牌，特提醒"明电转债"持券人注意在限期内转股。债券持有人持有 的"明电转债"如存在被质押或被冻结的，建议在停止转股日前解除质押或冻结， 以免出现因无法转股而被赎回的情形。 | 证券代码：300739 | 证券简称：明阳电路 | 公告编号：2025-085 | | --- | --- | --- | | 债券代码：123087 | 债券简称：明电转债 | | | 债券代码：123203 | 债券简称：明电转 02 | | 深圳明阳电路科技股份有限公司 关于提前赎回"明电转债"的第十一次提示性公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有 虚假记载、误导性陈述或重大遗漏。 11．债券持有人若转股，需开通创业板交易权 ...

本公司及董事会全体成员保证信息披露的内容真实、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：300739 | 证券简称：明阳电路 | 公告编号：2025-086 | | --- | --- | --- | | 债券代码：123087 | 债券简称：明电转债 | | | 债券代码：123203 | 债券简称：明电转 02 | | 深圳明阳电路科技股份有限公司 关于使用部分闲置募集资金进行现金管理的进展公告 （一）主要风险 1.公司进行现金管理将选择低风险投资品种，但金融市场受宏观经济的影响 较大，不排除收益将受到市场波动的影响。 2.公司将根据经济形势以及金融市场的变化适时适量的介入，因此短期投资 的实际收益不可预期。 深圳明阳电路科技股份有限公司（以下简称"公司"）分别于 2024 年 12 月 3 日召开第三届董事会第三十五次会议及第三届监事会第二十九次会议，于 2024 年 12 月 20 日召开 2024 年第二次临时股东大会，审议通过《关于使用部分 闲置自有资金和部分闲置募集资金进行现金管理的议案》，同意公司及控股子公 司使用最高额度不超过人民币 5 亿元的闲置自有资金和最高额度不 ...

Investment Rating - The report rates the industry as "Overweight," indicating that it is expected to outperform the overall market [3]. Core Insights - The axial flux motor has significant advantages in torque density and efficiency, already being applied in robotics. For instance, the YASA axial flux motor achieves torque density and power density of 160 Nm/L and 14.9 kW/kg, respectively, which is four times that of traditional radial flux motors [3]. - PCB motors, a branch of axial flux motors, have increased application potential due to optimized PCB technology. They replace traditional iron core stators with PCBs, leading to reduced weight and enhanced efficiency [3]. - PCB motors excel in lightweight design, high efficiency, stability, automated production, low noise, and flexible design, making them suitable for robotic applications that require high torque density and rapid response [3]. - The robotics sector presents new development opportunities for PCB axial flux motors, with leading companies actively seeking innovative motor technologies as traditional solutions face limitations [3]. Summary by Sections Axial Flux Motor Advantages - The axial flux motor is characterized by a flat shape and a larger effective magnetic area, resulting in higher torque and efficiency compared to traditional motors [3]. - The efficiency of these motors typically exceeds 96%, with lower operational noise and vibration [3]. PCB Motor Characteristics - PCB motors are lightweight, reducing copper usage by 66% and significantly decreasing weight [3]. - They offer high efficiency due to reduced magnetic path losses and improved thermal stability [3]. - The automated production process ensures consistent quality and allows for rapid customization [3]. Investment Opportunities - Recommended companies to watch include: - Wolong Electric Drive: A comprehensive motor supplier focusing on high torque density axial flux motors [3]. - Xiaxia Precision: Invested in ZhiJian Intelligent, specializing in micro motors [3]. - Mingyang Circuit: Capable of full-process PCB production with a focus on robotics [3]. - Dongmu Co., Ltd.: Holds a 22% stake in Xiaoxiang Motor, a leader in axial flux motor technology [3]. - Yidelong: A flexible EMS manufacturer with a diverse product range [3].

深圳明阳电路科技股份有限公司 关于提前赎回"明电转债"的第十次提示性公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有 虚假记载、误导性陈述或重大遗漏。 | 证券代码：300739 | 证券简称：明阳电路 | 公告编号：2025-084 | | --- | --- | --- | | 债券代码：123087 | 债券简称：明电转债 | | | 债券代码：123203 | 债券简称：明电转 02 | | 特别提示： 1．"明电转债"赎回价格：101.83 元/张（含当期应计利息，当期年利率为 2.5%，且当期利息含税），扣税后的赎回价格以中国证券登记结算有限责任公司 深圳分公司（以下简称"中国结算"）核准的价格为准。 10．根据安排，截至 2025 年 9 月 5 日收市后仍未转股的"明电转债"将被 强制赎回，本次赎回完成后，"明电转债"将在深圳证券交易所（以下简称"深 交所"）摘牌，特提醒"明电转债"持券人注意在限期内转股。债券持有人持有 的"明电转债"如存在被质押或被冻结的，建议在停止转股日前解除质押或冻结， 以免出现因无法转股而被赎回的情形。 11．债券持有人若转股，需开通创业板交易权限 ...

| 证券代码：300739 | 证券简称：明阳电路 | 公告编号：2025-083 | | --- | --- | --- | | 债券代码：123087 | 债券简称：明电转债 | | | 债券代码：123203 | 债券简称：明电转 02 | | 深圳明阳电路科技股份有限公司 关于提前赎回"明电转债"的第九次提示性公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有 虚假记载、误导性陈述或重大遗漏。 特别提示： 1．"明电转债"赎回价格：101.83 元/张（含当期应计利息，当期年利率为 2.5%，且当期利息含税），扣税后的赎回价格以中国证券登记结算有限责任公司 深圳分公司（以下简称"中国结算"）核准的价格为准。 10．根据安排，截至 2025 年 9 月 5 日收市后仍未转股的"明电转债"将被 强制赎回，本次赎回完成后，"明电转债"将在深圳证券交易所（以下简称"深 交所"）摘牌，特提醒"明电转债"持券人注意在限期内转股。债券持有人持有 的"明电转债"如存在被质押或被冻结的，建议在停止转股日前解除质押或冻结， 以免出现因无法转股而被赎回的情形。 11．债券持有人若转股，需开通创业板交易权限 ...

Core Viewpoint - Shenzhen Mingyang Circuit Technology Co., Ltd. has triggered the conditional redemption clause for its convertible bonds due to the stock price meeting specific criteria, leading to the decision to redeem the bonds at a specified price [2][10]. Group 1: Convertible Bond Redemption - The company has decided to exercise its right to redeem the "Mingdian Convertible Bonds" early, as the stock price has met the condition of being at least 130% of the conversion price for 15 out of 30 trading days [2][10]. - The redemption price for the "Mingdian Convertible Bonds" is set at 101.83 yuan per bond, which includes accrued interest [10][11]. - The redemption will be executed on September 8, 2025, with the funds reaching bondholders' accounts by September 15, 2025 [11]. Group 2: Bond Issuance and Terms - The "Mingdian Convertible Bonds" were issued with a total amount of 673 million yuan, with a face value of 100 yuan per bond [2][3]. - The bonds were listed on the Shenzhen Stock Exchange on January 5, 2021, under the code "123087" [3]. - The conversion period for the bonds is from June 21, 2021, to December 14, 2026, with the initial conversion price set at 24.23 yuan per share [3]. Group 3: Price Adjustments - The conversion price has been adjusted multiple times, with the latest adjustment reducing it to 11.89 yuan per share effective May 30, 2024 [7][9]. - The adjustments are in accordance with the company's profit distribution plans and regulatory requirements [5][6]. Group 4: Shareholder Information - The company has confirmed that there have been no transactions involving the "Mingdian Convertible Bonds" by major shareholders or executives in the six months leading up to the redemption conditions being met [12].

| 证券代码：300739 | 证券简称：明阳电路 | 公告编号：2025-082 | | --- | --- | --- | | 债券代码：123087 | 债券简称：明电转债 | | | 债券代码：123203 | 债券简称：明电转 02 | | 深圳明阳电路科技股份有限公司 关于提前赎回"明电转债"的第八次提示性公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有 虚假记载、误导性陈述或重大遗漏。 特别提示： 1．"明电转债"赎回价格：101.83 元/张（含当期应计利息，当期年利率为 2.5%，且当期利息含税），扣税后的赎回价格以中国证券登记结算有限责任公司 深圳分公司（以下简称"中国结算"）核准的价格为准。 10．根据安排，截至 2025 年 9 月 5 日收市后仍未转股的"明电转债"将被 强制赎回，本次赎回完成后，"明电转债"将在深圳证券交易所（以下简称"深 交所"）摘牌，特提醒"明电转债"持券人注意在限期内转股。债券持有人持有 的"明电转债"如存在被质押或被冻结的，建议在停止转股日前解除质押或冻结， 以免出现因无法转股而被赎回的情形。 11．债券持有人若转股，需开通创业板交易权限 ...

Core Viewpoint - Shenzhen Mingyang Circuit Technology Co., Ltd. has triggered the conditional redemption clause for its convertible bonds due to the stock price meeting specific criteria, leading to the decision to redeem the bonds at a price of 101.83 yuan per bond [2][10]. Group 1: Bond Redemption Details - The company has announced the early redemption of its convertible bonds ("Mingdian Convertible Bonds") after the stock price met the condition of being at least 130% of the conversion price for 15 out of 30 trading days [2][10]. - The total issuance of the convertible bonds was 673 million yuan, with a face value of 100 yuan per bond [2][3]. - The redemption price is set at 101.83 yuan per bond, which includes accrued interest calculated based on a 2.50% annual interest rate [10][11]. Group 2: Conversion and Adjustment History - The initial conversion price was set at 24.23 yuan per share, which has been adjusted multiple times, with the latest adjustment bringing it down to 11.91 yuan per share [3][7][9]. - The conversion period for the bonds is from June 21, 2021, to December 14, 2026 [3]. - The company has made several adjustments to the conversion price in response to market conditions and corporate actions, including a downward adjustment to 12.09 yuan per share in May 2024 [7][9]. Group 3: Redemption Process and Timeline - The redemption will be executed on September 8, 2025, with funds expected to reach bondholders' accounts by September 15, 2025 [11]. - The bonds will be delisted from the Shenzhen Stock Exchange following the completion of the redemption process [11]. - Bondholders are advised to ensure their bonds are not pledged or frozen before the conversion deadline to avoid potential losses [1].

深圳明阳电路科技股份有限公司 关于提前赎回"明电转债"的第七次提示性公告 | 证券代码：300739 | 证券简称：明阳电路 | 公告编号：2025-081 | | --- | --- | --- | | 债券代码：123087 | 债券简称：明电转债 | | | 债券代码：123203 | 债券简称：明电转 02 | | 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有 虚假记载、误导性陈述或重大遗漏。 特别提示： 1．"明电转债"赎回价格：101.83 元/张（含当期应计利息，当期年利率为 2.5%，且当期利息含税），扣税后的赎回价格以中国证券登记结算有限责任公司 深圳分公司（以下简称"中国结算"）核准的价格为准。 10．根据安排，截至 2025 年 9 月 5 日收市后仍未转股的"明电转债"将被 强制赎回，本次赎回完成后，"明电转债"将在深圳证券交易所（以下简称"深 交所"）摘牌，特提醒"明电转债"持券人注意在限期内转股。债券持有人持有 的"明电转债"如存在被质押或被冻结的，建议在停止转股日前解除质押或冻结， 以免出现因无法转股而被赎回的情形。 11．债券持有人若转股，需开通创业板交易权限 ...