| 证券代码：300739 | 证券简称：明阳电路 | 公告编号：2025-107 | | --- | --- | --- | | 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"明电转债"赎回实施暨即将停止交易的重要提示性公 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。 重要内容提示： 1．最后交易日：2025 年 9 月 2 日 2025 年 9 月 2 日为"明电转债"最后一个交易日；当日"明电转债"简称 为"Z 电转债"；2025 年 9 月 2 日收市后"明电转债"将停止交易。 2．最后转股日：2025 年 9 月 5 日 2025 年 9 月 2 日至 2025 年 9 月 5 日收市前，持有"明电转债"的投资者仍 可进行转股，2025 年 9 月 5 日收市后，未实施转股的"明电转债"将停止转股， 剩余可转债将按照 101.83 元/张的价格被强制赎回。若被强制赎回，投资者可能 面临投资损失。 截至 2025 年 9 月 2 日收市后 ...

| 证券代码：300739 | 证券简称：明阳电路 | 公告编号：2025-105 | | --- | --- | --- | | 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"明电转债"赎回实施暨即将停止交易的重要提示性公 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。 重要内容提示： 1．最后交易日：2025 年 9 月 2 日 2025 年 9 月 2 日为"明电转债"最后一个交易日；当日"明电转债"简称 为"Z 电转债"；2025 年 9 月 2 日收市后"明电转债"将停止交易。 2．最后转股日：2025 年 9 月 5 日 2025 年 9 月 2 日至 2025 年 9 月 5 日收市前，持有"明电转债"的投资者仍 可进行转股，2025 年 9 月 5 日收市后，未实施转股的"明电转债"将停止转股， 剩余可转债将按照 101.83 元/张的价格被强制赎回。若被强制赎回，投资者可能 面临投资损失。 截至 2025 年 9 月 1 日收市后 ...

| 证券代码：300739 | 证券简称：明阳电路 | 公告编号：2025-106 | | --- | --- | --- | | 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 关于控股股东、实际控制人及其一致行动人持股比例被动稀 释触及 1%整数倍的公告 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。 特别提示： 1%整数倍。现将相关情况公告如下： | 1.基本情况 | | | | | --- | --- | --- | --- | | 信息披露义务人1 张佩珂 | | | | | 住所 | 广东省深圳市 | | | | 信息披露义务人2 | 丰县润佳玺企业管理有限公司 | | | | 住所 | 江苏省徐州市丰县赵庄镇汉帝街F05-01号 | | | | 信息披露义务人3 | 丰县盛健企业管理中心（有限合伙） | | | | 住所 | 江苏省徐州市丰县赵庄镇赵庄村聚源路D1-81号 | | | | 信息披露义务人4 | 丰县利运得企业管理有限公司 | | ...

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 early [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 bonds is set at 101.83 yuan per bond, which includes accrued interest [10][11]. - The redemption will be completed by September 8, 2025, and the bonds will be delisted from the Shenzhen Stock Exchange thereafter [11][12]. 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 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 bonds were listed on the Shenzhen Stock Exchange on January 5, 2021, under the code "123087" [3][4]. Group 3: Interest and Taxation - The bonds carry an annual interest rate of 2.5%, and the accrued interest is calculated based on the formula provided in the bond issuance documents [10]. - The company will not withhold taxes on the interest income for bondholders [10].

Core Insights - Changhong Energy reported a revenue of 2.018 billion yuan for the first half of 2025, marking a year-on-year increase of 23.91% [2] - The company achieved a net profit attributable to shareholders of 111 million yuan, reflecting a growth of 28.79% compared to the previous year [2] - The net cash flow from operating activities reached 250 million yuan, up by 16.26% year-on-year [2] Company Overview - Changhong Energy is a national high-tech enterprise engaged in the research, manufacturing, and sales of a full range of alkaline batteries, cylindrical high-rate lithium batteries, and polymer lithium-ion batteries [2] - The company has made strategic acquisitions, including Changhong Sanjie in Jiangsu and Changhong Polymer Source in Shenzhen, establishing a three-in-one business structure encompassing alkaline batteries, high-rate lithium batteries, and polymer lithium batteries [2] Industry Context - The battery industry is undergoing significant transformation and development driven by global energy changes and technological advancements [2] - In the first half of the year, Changhong Energy's three major business segments showed positive trends, with the alkaline battery sector benefiting from strong brand reputation and market credibility [3] - The lithium battery segment experienced substantial growth in sales revenue and profit, particularly in high-rate lithium batteries, which are gaining market share in traditional applications such as power tools and garden tools [3] Strategic Positioning - The company's three business segments work synergistically, effectively diversifying market risks and leveraging advantages in different technological fields and market channels [3] - Changhong Energy is transitioning from a traditional battery manufacturer to a technology innovation-driven enterprise, showcasing significant results from this transformation [3] - The company is actively embracing change in the era of smart manufacturing, accelerating digital transformation across its business segments and continuously increasing production capacity [3]

| 证券代码：300739 | 证券简称：明阳电路 | 公告编号：2025-104 | | --- | --- | --- | | 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"的第二十二次提示性公告 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 ...

Group 1 - The core viewpoint of the article highlights the financial performance of Mingyang Circuit (300739) in its 2025 mid-year report, showing a revenue increase of 13.11% year-on-year and a net profit increase of 32.6% [1] - As of the reporting period, the company's total revenue reached 882 million yuan, with a net profit attributable to shareholders of 41.51 million yuan [1] - In the second quarter, the total revenue was 461 million yuan, reflecting a year-on-year growth of 14.31%, while the net profit for the same period was 29.49 million yuan, up 30.99% year-on-year [1] Group 2 - The company's gross margin increased by 0.94% year-on-year to 23.23%, and the net margin rose by 18.52% to 4.69% [1] - Total selling, administrative, and financial expenses amounted to 85.65 million yuan, accounting for 9.71% of revenue, which is a decrease of 24.21% year-on-year [1] - The earnings per share (EPS) increased by 20.0% to 0.12 yuan, while the operating cash flow per share decreased by 34.53% to 0.23 yuan [1] Group 3 - The company's return on invested capital (ROIC) was reported at 1.5%, indicating weak capital returns, with a historical median ROIC of 9.78% since its listing [2] - The net profit margin for the previous year was 0.69%, suggesting low added value for the company's products or services [2] - The company relies heavily on research and development, marketing, and capital expenditures, necessitating careful evaluation of its capital spending projects [2]

Trading Information - On August 28, 2025, Mingyang Circuit (300739) closed at 18.1 yuan, an increase of 8.77%, with a turnover rate of 16.74%, trading volume of 582,300 shares, and a transaction amount of 1.037 billion yuan [1] - On the same day, the net inflow of main funds was 6.4386 million yuan, while the net outflow of speculative funds was 74.5341 million yuan, and the net inflow of retail funds was 68.0955 million yuan [4] Shareholder Changes - As of June 30, 2025, the number of shareholders of Mingyang Circuit was 27,900, an increase of 371 from March 31, 2025, representing a growth rate of 1.35%. The average number of shares held per account decreased from 12,500 to 12,300 shares, with an average market value of 182,700 yuan [1][4] Financial Performance - For the first half of 2025, the company reported a main revenue of 882 million yuan, a year-on-year increase of 13.11%. The net profit attributable to shareholders was 41.51 million yuan, up 32.6% year-on-year, and the net profit excluding non-recurring gains and losses was 35.21 million yuan, an increase of 84.13% year-on-year [2][3][4] - In Q2 2025, the company achieved a single-quarter main revenue of 461 million yuan, a year-on-year increase of 14.31%. The net profit attributable to shareholders for the quarter was 29.49 million yuan, up 30.99% year-on-year, and the net profit excluding non-recurring gains and losses was 22.07 million yuan, a significant increase of 132.55% year-on-year [2][4] Financial Ratios - The company's debt ratio was 30.65%, with investment income of 2.64 million yuan and financial expenses of 1.31 million yuan. The gross profit margin was 23.23% [2] - The net cash flow from operating activities was 78.05 million yuan, a decrease of 26.29% compared to the previous year [3][4] - Basic and diluted earnings per share were both 0.12 yuan, reflecting a year-on-year increase of 20%. The weighted average return on equity was 1.72%, up 0.09% from the previous year [3] Asset Overview - As of the end of the reporting period, total assets amounted to 3.475 billion yuan, an increase of 0.56% from the end of the previous year. The net assets attributable to shareholders were 2.408 billion yuan, up 0.24% from the previous year-end [5]

Core Insights - Mingyang Circuit (300739.SZ) reported a total operating revenue of 882 million yuan for the first half of 2025, an increase of 102 million yuan or 13.11% year-on-year [1] - The net profit attributable to shareholders reached 41.51 million yuan, up by 10.21 million yuan or 32.60% compared to the same period last year [1] Financial Performance - Operating cash flow was 78.05 million yuan, ranking 22nd among disclosed peers [1] - The latest debt-to-asset ratio is 30.65%, ranking 15th among peers, a decrease of 11.85 percentage points year-on-year [3] - Gross margin stands at 23.23%, ranking 18th among peers, with a sequential increase of 1.12 percentage points and a year-on-year increase of 0.22 percentage points [3] - Return on equity (ROE) is 1.72%, an increase of 0.13 percentage points year-on-year [3] - Diluted earnings per share are 0.12 yuan, an increase of 0.02 yuan or 20.00% year-on-year [3] - Total asset turnover ratio is 0.25 times, an increase of 0.03 times or 12.77% year-on-year [3] - Inventory turnover ratio is 2.61 times, ranking 21st among peers [3] Shareholder Structure - The number of shareholders is 27,900, with the top ten shareholders holding 186 million shares, accounting for 53.96% of total equity [3] - The largest shareholder is Fengxian Runjiaxi Enterprise Management Co., Ltd., holding 47.64% [3]

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： | 证券代码：300739 | 证券简称：明阳电路 | 公告编号：2025-103 | | --- | --- | --- | | 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"的第二十一次提示性公告 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 ...