华辰精密装备（昆山）股份有限公司 2024 年限制性股票激励计划预留授予部分 激励对象名单（预留授予日） 一、公司 2024 年限制性股票激励计划（以下简称"本次激励计划"）预留 授予限制性股票的分配情况 | 姓名 | 职务 | 获授的限制性股票 | 占预留授予权益 | 占目前总股本的 | | --- | --- | --- | --- | --- | | | | 数量（万股） | 总量的比例 | 比例 | | 徐彩英 | 董事、董事会秘书、副总 经理、财务总监 | 56.00 | 56.00% | 0.2209% | | 公司核心骨干（19 | 人） | 44.00 | 44.00% | 0.1735% | | 合计 | | 100.00 | 100.00% | 0.3944% | 注：1、上述任何一名激励对象通过全部有效期内的股权激励计划获授的本公司股票均 未超过公司总股本的 1.00%。公司全部有效期的激励计划所涉及的标的股票总数累计不超过 本计划公告时公司股本总额的 20.00%。 2、上表中数值若出现总数与各分项数值之和尾数不符，均为四舍五入原因所致。 3、本激励计划预留部分限制性股票授予的激励对象 ...

证券代码：300809 证券简称：华辰装备 公告编号：2025-030 华辰精密装备（昆山）股份有限公司 关于向激励对象授予预留限制性股票的公告 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。 重要内容提示： 华辰精密装备（昆山）股份有限公司（以下简称"公司"）《2024年限制性股 票激励计划（草案）》（以下简称"本激励计划"或"《激励计划》"）规定的 限制性股票预留授予条件已经成就，根据公司2024年第三次临时股东大会授权， 公司于2025年9月26日召开第三届董事会第十次会议、第三届监事会第十次会议， 审议通过了《关于向激励对象授予预留部分限制性股票的议案》，确定以2025 年9月26日为预留部分限制性股票的授予日，以12.33元/股的价格向20名激励对象 授予100.00万股第二类限制性股票。现将有关事项说明如下： 一、激励计划简述及已履行的相关审批程序 （一）激励计划简述 2024年11月29日公司召开2024年第三次临时股东大会，审议通过了《关于< 华辰精密装备（昆山）股份有限公司2024年限制性股票激励计划（草案）>及其 摘要的议案》等相关议案，公 ...

证券简称：华辰装备 证券代码：300809 上海荣正企业咨询服务（集团）股份有限公司 关于 华辰精密装备（昆山）股份有限公司 2024 年限制性股票激励计划 预留授予相关事项 之 本独立财务顾问报告中，以下词语如无特殊说明，在本文中具有如下含义： | 华辰装备、公司、上 | 指 | 华辰精密装备（昆山）股份有限公司 | | --- | --- | --- | | 市公司 | | | | 本激励计划 | 指 | 华辰精密装备（昆山）股份有限公司 年限制性股票激励 2024 | | | | 计划 | | 限制性股票、第二类 | 指 | 符合本激励计划授予条件的激励对象，在满足相应归属条件后 | | 限制性股票 | | 分次获得并登记的公司股票 | | 激励对象 | 指 | 按照本激励计划规定，获得限制性股票的公司员工 | | 授予日 | 指 | 公司向激励对象授予限制性股票的日期，授予日必须为交易日 | | 授予价格 | 指 | 公司授予激励对象每一股限制性股票的价格 | | | | 自限制性股票首次授予之日起到激励对象获授的限制性股票 | | 有效期 | 指 | 全部归属或作废失效的期间 | | 归属 | 指 ...

证券代码：300809 证券简称：华辰装备 公告编号：2025-028 2、会议召开的时间：2025 年 9 月 26 日下午 16:00 3、会议召开的地点：江苏省昆山市周市镇横长泾路 333 号华辰精密装备（昆 山）股份有限公司四楼会议室 4、会议召开方式：现场结合通讯 5、会议召集人：董事长曹宇中先生 6、会议主持人：董事长曹宇中先生 华辰精密装备（昆山）股份有限公司 第三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 华辰精密装备（昆山）股份有限公司（以下简称"公司"）召开第三届董事会 第十次会议。 1、会议通知的时间和方式：2025 年 9 月 26 日以口头方式通知 根据《上市公司股权激励管理办法》《深圳证券交易所创业板股票上市规则》、 公司《2024 年限制性股票激励计划（草案）》的有关规定，以及公司 2024 年第 三次临时股东大会的授权，公司董事会认为本激励计划规定的授予条件已经成 就，同意将预留部分限制性股票的授予日确定为 2025 年 9 月 26 日，向符合授予 条件的 20 名激励对 ...

Core Viewpoint - Huachen Equipment's stock price has shown significant volatility, with a year-to-date increase of 44.08%, but a recent decline over the past five days and twenty days [1][2]. Financial Performance - For the first half of 2025, Huachen Equipment achieved operating revenue of 267 million yuan, representing a year-on-year growth of 19.16%. However, the net profit attributable to shareholders decreased by 28.41% to 34.12 million yuan [2]. - The company has distributed a total of 172 million yuan in dividends since its A-share listing, with 80.83 million yuan distributed over the past three years [3]. Stock Market Activity - As of September 29, Huachen Equipment's stock was trading at 45.50 yuan per share, with a market capitalization of 11.536 billion yuan. The stock experienced a net outflow of 7.27 million yuan in principal funds on that day [1]. - The company has appeared on the "Dragon and Tiger List" once this year, with a net purchase of 114 million yuan on March 26 [1]. Shareholder Structure - As of September 19, the number of shareholders for Huachen Equipment increased by 1.75% to 23,000, with an average of 6,553 circulating shares per shareholder, a decrease of 1.72% [2]. - Notable institutional shareholders include Huaxia CSI Robotics ETF, which increased its holdings by 965,200 shares, and Tianhong CSI Robotics ETF, which entered the top ten shareholders list [3].

Investment Rating - The report suggests a focus on the robotics industry, particularly on whole machine manufacturers and core component suppliers, with an overall investment rating of "Neutral" for the industry [26]. Core Insights - The humanoid robotics sector is experiencing a dual momentum of "technological deepening" and "scene landing," indicating a positive outlook for the robotics industry [2]. - Google has launched the latest Gemini Robotics 1.5 series, enhancing robot autonomy and task execution capabilities through advanced models [4][16]. - The report highlights significant investment opportunities in various segments of the robotics supply chain, including motors, joints, sensors, and more [18]. Summary by Sections Industry News and Company Dynamics - Jiangsu Donghua Testing Technology Co., Ltd. signed a strategic cooperation agreement with Nantong Zhenkang Machinery Co., Ltd. to enhance collaboration in robotic joint module technology [6]. - Fourier's third-generation humanoid robot GR-3C made its debut at the 2025 Industrial Expo, showcasing advanced design and capabilities [7]. Investment and Financing Dynamics - 1X Robotics is seeking to raise up to $1 billion, aiming for a valuation of at least $10 billion, following the launch of its new home robot Neo Gamma [16]. - Quan Zhibo completed two rounds of financing exceeding 100 million yuan, focusing on talent development and R&D [16]. Investment Recommendations - The report recommends focusing on key robotics component suppliers, including: 1. Motors: Mingzhi Electric 2. Rotating joints: Zhongchen Technology, Shuanghuan Transmission, Landai Technology 3. Linear joints: Hengli Hydraulic 4. Dexterous hands: Zhaowei Electromechanical 5. Encoders: Yap Technology, Fengqiao Technology 6. Sensors: Donghua Testing, Keli Sensor, Anpeilong, Hanwei Technology 7. Screw equipment: Qinchuan Machine Tool, Huachen Equipment 8. Bearings: Longxi Co., Ltd. [18][19]

Core Viewpoint - The company, Moer Technology, has successfully passed the IPO review by the Shanghai Stock Exchange, marking a rapid approval process for a domestic GPU leader in less than three months [1][3]. Group 1: Capital Raising and Use of Proceeds - Moer Technology plans to raise 8 billion yuan for the development of next-generation AI training and inference chips, graphics chips, and AI SoC chips [3]. - The company has a diverse shareholder base, including major internet companies like Tencent and ByteDance, as well as top venture capital firms and state-owned funds [3][5]. Group 2: Shareholding Structure - The shareholding structure is characterized by a combination of founder control and diverse capital participation, with founder Zhang Jianzhong holding 11.06% directly and controlling 36.36% of voting rights through various agreements [4]. - Employee stock ownership plans cover 724 employees, accounting for 64% of the total workforce, which is crucial for attracting and retaining top talent in the competitive chip industry [4]. Group 3: Strategic Partnerships and Collaborations - Moer Technology has established business partnerships with several listed companies to build a domestic GPU ecosystem, including collaborations with Weixing Intelligent and Runxin Technology for AI computing and GPU packaging [8]. - The company is also working with various suppliers for high-end components, indicating a strong integration within the industry [8]. Group 4: Financial Performance and Market Outlook - The company has reported cumulative losses of 5.276 billion yuan from 2022 to mid-2025, reflecting the high investment nature of the chip industry [10]. - The IPO is expected to test market recognition of domestic GPU enterprises, with projections indicating that the Chinese AI chip market could reach 13.4 trillion yuan by 2029, positioning Moer Technology to benefit from this growth [10].

Core Viewpoint - Huachen Equipment, as a leading enterprise in the domestic roller grinding machine industry, is benefiting from dual drivers of equipment upgrades in the industrial sector and the domestic substitution of high-end equipment [1] Group 1: Industry Insights - The Ministry of Industry and Information Technology's implementation plan for promoting equipment upgrades in the industrial sector emphasizes the replacement of outdated machine tools, which directly supports the demand for Huachen Equipment's services [1] - The company's maintenance and renovation business achieved revenue of 0.33 billion yuan in the first half of 2025, marking a significant year-on-year increase of 212.79% [1] Group 2: Company Performance - As of the first half of 2025, Huachen Equipment's contract liabilities stood at 2.42 billion yuan, showing a slight decrease from the beginning of the year but still indicating a strong order backlog and resilient demand for its main business [1] - The integrated business model of equipment, services, and intelligent manufacturing is expected to smooth out the cyclical fluctuations in equipment sales, providing new momentum for the company's performance growth [1] Group 3: Investment Outlook - Huachen Equipment is well-positioned to benefit from the wave of domestic substitution and equipment upgrades, along with successful technological breakthroughs that have opened up high-end markets such as robotic screw rods [1] - The company has been given a "buy" investment rating based on its strong market position and growth potential [1]

Group 1 - The stock of Huachen Equipment increased by 6.22% on September 24, reaching a price of 48.30 CNY per share, with a trading volume of 489 million CNY and a turnover rate of 6.93%, resulting in a total market capitalization of 12.246 billion CNY [1] - Huachen Precision Equipment (Kunshan) Co., Ltd. specializes in the research, production, and sales of fully automatic CNC roller grinding machines, with main business revenue composition being 86.59% from fully automatic CNC roller grinding machines, 13.01% from maintenance and renovation services, and 0.40% from other sources [1] Group 2 - Tianhong Fund's Tianhong CSI Robot ETF (159770) entered the top ten circulating shareholders of Huachen Equipment in the second quarter, holding 1.1489 million shares, which accounts for 0.76% of the circulating shares, with an estimated floating profit of approximately 3.2515 million CNY [2] - The Tianhong CSI Robot ETF was established on October 26, 2021, with a latest scale of 5.834 billion CNY, achieving a year-to-date return of 37.97% and a one-year return of 93.87%, ranking 1183 out of 4220 and 694 out of 3814 in its category respectively [2] Group 3 - The fund managers of Tianhong CSI Robot ETF are Liu Xiaoming and Qi Shichao, with Liu having a cumulative tenure of 7 years and a total fund asset scale of 16.3 billion CNY, achieving a best fund return of 68.61% during his tenure [3] - Qi Shichao has a cumulative tenure of 246 days with a fund asset scale of 21.225 billion CNY, achieving a best fund return of 44.65% during his tenure [3]

Group 1 - The company is a leading player in the roller grinding machine industry, benefiting from both equipment upgrades and domestic high-end equipment substitution driven by government policies [1] - The company's maintenance and renovation business achieved revenue of 0.33 billion yuan in the first half of 2025, a year-on-year increase of 212.79% [1] - The company has successfully developed the Huachen HCK2000 intelligent grinding CNC system, with over 35% of new equipment orders in 2024 featuring this self-developed system [1] Group 2 - The company invested 40.77 million yuan in R&D in 2024, accounting for 9.14% of its revenue, and has established joint laboratories with universities to tackle critical technology challenges [2] - The company has received 86 patents and 11 software copyrights, enhancing its competitiveness in high-end markets such as robotics and aerospace [2] - The company has secured significant orders in emerging markets, including a 100-unit order for planetary roller screw grinding machines [2] Group 3 - The company is transitioning from a single equipment manufacturer to a comprehensive solution provider for intelligent grinding applications, enhancing customer loyalty and order value [3] - The maintenance and renovation business has become the fastest-growing segment, with a gross margin of 40.60%, up 12.12% year-on-year [3] - The integrated business model of equipment, services, and intelligent manufacturing is expected to smooth out sales cycle fluctuations and provide new growth momentum [3] Group 4 - Revenue forecasts for the company are 5.85 billion yuan, 8.35 billion yuan, and 11.18 billion yuan for 2025-2027, with corresponding EPS of 0.43, 0.70, and 1.01 yuan [4] - The current stock price corresponds to PE ratios of 108.5, 67.4, and 46.5 times for the respective years, reflecting the company's strong position in the market [4]