Core Viewpoint - The company, Jiahe Intelligent (300793.SZ), reported that the prices of core raw materials, particularly PCBA and batteries, have remained stable in the first half of the year, indicating that minor price fluctuations will not significantly impact its operations [1] Summary by Relevant Categories - **Raw Material Costs** - The main raw material costs for the company are concentrated in PCBA and batteries [1] - The overall price trend for core raw materials has been stable in the first half of the year [1] - Minor price changes in PCBA and batteries will not have a significant effect on the company's operations [1] - **Supply Chain and Localization** - The company has made significant progress in the localization of its supply chain [1] - All necessary components for the company's products are currently sourced from domestic suppliers [1]

Core Viewpoint - The company, Jiahe Intelligent (300793.SZ), has indicated that its smart hardware products are designed with ports for integrating AI large models, allowing customers to select and provide the AI model based on their product positioning, technical requirements, and strategic planning [1] Group 1 - The company offers technical support and hardware-software collaborative solutions based on the AI model chosen by the customer, ensuring effective implementation of related AI functionalities [1]

Core Viewpoint - The company has optimized its production layout by shifting more orders to its Vietnam production base, which has led to a high capacity utilization rate in the first half of the year, thereby mitigating geopolitical risks to its overall business [1] Group 1: Production and Capacity - The capacity utilization rate at the Vietnam production base has remained high in the first half of the year [1] - The company has actively transferred more orders to the Vietnam facility, maximizing the value of overseas capacity [1] Group 2: Cost and Trade Policy - The cost gap between the Vietnam factory and domestic factories is gradually narrowing [1] - The Vietnam factory plays a positive role in terms of tariffs, allowing the company to respond more flexibly to trade policies in certain regions and reducing the impact of tariff factors on the company [1]

Group 1 - The company, Jiahe Intelligent (300793), announced that its wholly-owned subsidiary, Dongguan Jiahe Acoustic Technology Co., Ltd., plans to lease out part of its idle assets located at No. 151, Dongyuan Avenue, Shipa Town, Dongguan City, Guangdong Province, for industrial factory purposes [1] - This leasing of idle assets is expected to help the company activate its existing assets and improve asset utilization [1]

智通财经APP讯，佳禾智能(300793.SZ)公告，公司全资子公司东莞市佳禾电声科技有限公司(简称"东莞 电声")拟将位于广东省东莞市石排镇东园大道石排段151号部分闲置资产对外出租，租赁物的用途为工 业厂房。本次对外出租部分闲置资产事宜有利于盘活公司存量资产，提高资产利用率。 ...

| 证券代码：300793 | 证券简称：佳禾智能 | 公告编号：2025-085 | | --- | --- | --- | | 债券代码：123237 | 债券简称：佳禾转债 | | 佳禾智能科技股份有限公司 关于对外出租部分闲置资产的公告 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。 一、交易概述 为盘活公司存量资产，提升佳禾智能科技股份有限公司（以下简称"公司"） 资产整体运营效率，公司全资子公司东莞市佳禾电声科技有限公司（以下简称"东 莞电声"）拟将位于广东省东莞市石排镇东园大道石排段151号部分闲置资产对外 出租。 2025年9月5日，公司召开了第三届董事会第三十次会议，审议通过了《关于拟 对外出租资产的议案》。根据《公司章程》等相关规定，本次对外出租的合同金额 在董事会审批权限内，无须提交公司股东会批准。 二、本次交易方情况 公司名称：东莞市三盛地产投资有限公司 住所：广东省东莞市石排镇石排福隆工业四路1号1号楼102室 成立日期：2025年8月25日 营业期限：2025年8月25日至无固定期限 经营范围：一般项目：以自有资金从事投资活动；房地 ...

关于聘任公司副总经理的公告 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：300793 | 证券简称：佳禾智能 | 公告编号：2025-086 | | --- | --- | --- | | 债券代码：123237 | 债券简称：佳禾转债 | | 佳禾智能科技股份有限公司 佳禾智能科技股份有限公司董事会 2025 年 9 月 5 日 1 附刘东丹先生简历： 刘东丹，1987年出生，中国国籍，无境外居留权，本科学历，会计学专业。 自2009年起先后担任宇星科技发展（深圳）有限公司财务主管，财务经理。 2015年9月起就职于佳禾智能，任佳禾智能财务部高级经理、财务部总监。 2023年3月至今，任公司财务总监。2025年9月起，任公司副总经理。 截至本公告披露日，刘东丹先生未持有公司股份，与持有公司5%以上有 表决权股份的股东、实际控制人、公司其他董事、监事和高级管理人员不存在 关联关系，未受过中国证监会及其他有关部门的处罚和证券交易所惩戒，不属 于失信被执行人，也不存在《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》中规定的 ...

（一）审议通过《关于对外出租部分闲置资产的议案》。 佳禾智能科技股份有限公司 第三届董事会第三十次会议决议公告 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。 一、董事会会议召开情况 | 证券简称：佳禾智能 证券代码：300793 | 公告编号：2025-084 | | --- | --- | | 债券代码：123237 债券简称：佳禾转债 | | 佳禾智能科技股份有限公司（以下简称"公司"）第三届董事会第三十次 会议通知于 2025 年 9 月 1 日以电子邮件的形式发出，于 2025 年 9 月 5 日以现 场和通讯表决相结合的方式召开，会议应参会董事 9 名，实际参加会议董事 9 名（其中独立董事何华明、王再升、万加富以通讯方式表决），符合公司章程规 定的法定人数，会议由董事长严帆先生主持，公司高级管理人员列席了会议。 本次会议的召集、召开和表决符合《公司法》及《公司章程》的有关规定，会 议合法有效。 二、董事会会议审议情况 会议认为：本次对外出租部分闲置资产事宜有利于盘活公司存量资产，提 高资产利用率，为公司带来稳定的租金收益。 具体内容详见同日登载于 ...

Group 1: Customer Strategy - The company aims to balance "deep binding with major customers" and "diversification of customer structure" to mitigate risks associated with dependency on a few large clients [2][3] - The revenue contribution from the top five customers has shown some changes, indicating ongoing efforts to optimize customer structure [3] Group 2: Business Line Performance - In the first half of the year, traditional acoustic products, particularly headphones, accounted for 81.18% of total revenue, while smart wearable devices increased their share from 6.4% to 10.08%, with a revenue of 101 million yuan, reflecting a year-on-year growth of over 28.76% [3][4] - The gross margin for smart wearables is higher than that of headphones and speakers due to the higher technical value and unit price of smart glasses [3][4] Group 3: Future Growth Drivers - Smart wearable devices are identified as the core growth driver for the company, with a stable growth trend since the second half of last year [4] - The company is increasing investments in smart glasses, anticipating strong market demand driven by rising health awareness and technological advancements [4] Group 4: Margin Challenges - The overall gross margin has declined due to product structure adjustments and intensified competition in the downstream market [5][6] - The shift towards mid-to-low-end products by core customers has led to a decrease in the proportion of high-margin products, impacting profit margins [5][6] Group 5: R&D Investments - The company is focusing R&D efforts on AR/AI smart glasses, aiming to enhance competitiveness in this field [7] Group 6: Brand Development and Acquisitions - Post-acquisition of Beyerdynamic, the company plans to leverage its expertise in high-end audio equipment to strengthen its brand image in the professional audio sector [8] - The integration of Beyerdynamic into the company's global operations will be gradual, with a focus on maintaining operational stability [8][9] Group 7: Supply Chain and Cost Management - The utilization rate of the Vietnam factory has remained high, contributing to cost advantages and mitigating geopolitical risks [11] - The prices of core raw materials have remained stable, with no significant impact on operations [12] Group 8: Accounts Receivable Management - The accounts receivable turnover rate has improved, with a reduction in the number of days for receivables [13][14] - The company maintains a stable credit policy for major clients, with proactive measures to manage potential bad debt risks [13][14] Group 9: Tariff Mitigation Strategies - The company is leveraging its production base in Vietnam to mitigate tariff impacts, achieving positive results in cost control [14]

Company Overview - Jiahe Intelligent Technology Co., Ltd. is located in Dongguan, Guangdong Province, established on October 17, 2013, and listed on October 18, 2019. The company specializes in the design, research and development, manufacturing, and sales of electroacoustic products [1][2]. Financial Performance - For the first half of 2025, Jiahe Intelligent reported operating revenue of 1.005 billion yuan, a year-on-year decrease of 10.82%. The net profit attributable to the parent company was 25.1219 million yuan, down 38.12% year-on-year [2]. - Cumulative cash dividends since the A-share listing amount to 223 million yuan, with 146 million yuan distributed over the past three years [3]. Stock Performance - As of September 5, Jiahe Intelligent's stock price increased by 2.02%, reaching 17.67 yuan per share, with a total market capitalization of 6.724 billion yuan. The stock has decreased by 9.81% year-to-date and by 5.76% over the last five trading days [1]. - The company experienced a net inflow of main funds amounting to 2.9065 million yuan, with significant buying and selling activities recorded [1]. Shareholder Information - As of June 30, 2025, the number of shareholders increased to 52,300, with an average of 7,119 circulating shares per person, a decrease of 0.30% from the previous period [2]. - Hong Kong Central Clearing Limited is the seventh-largest circulating shareholder, holding 791,600 shares, a decrease of 2.0647 million shares compared to the previous period [3]. Business Segmentation - The main revenue sources for Jiahe Intelligent include headphones (77.25%), headphone components and others (11.37%), speakers (11.16%), and audio cables (0.05%) [1]. - The company operates within the electronic industry, specifically in consumer electronics and components assembly [1].