3、 根据相关法律法规及《公司章程》的规定，本次交易事项属于董事会决 策权限范围之内，无需提交公司股东大会审议。本次交易尚需等待科瑞技术股东 大会审议，最终能否完成尚存在不确定性，请投资者注意风险。 4、 本次交易的必要性详见正文"八、本次交易的目的和对上市公司的影响"， 风险详见正文"九、本次交易的风险提示"。 请投资者注意风险。 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、 深圳市北鼎晶辉科技股份有限公司（以下简称"公司"或"北鼎股份"） 拟以自有资金人民币 15,600 万元收购深圳科瑞技术股份有限公司（以下简称"科 瑞技术"）全资子公司中山科瑞自动化技术有限公司（以下简称"标的公司"或 "中山科瑞"）100%股权（以下简称"本次交易"、"本次收购"）。本次交易 完成后，中山科瑞将成为公司的全资子公司，并纳入公司合并报表范围。 2、 根据《上市公司重大资产重组管理办法》《深圳证券交易所创业板股票 上市规则》及《深圳证券交易所上市公司自律监管指引第 7 号——交易与关联交 易》等相关法律法规要求，本次交易不构成关联交易，不构成《上市公司 ...

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。 深圳市北鼎晶辉科技股份有限公司（以下简称"公司"或"北鼎股份"）第 四届董事会第十九次会议通知于 2025 年 7 月 21 日以口头形式发出，经董事会全 体成员同意，豁免会议通知时间要求。会议于 2025 年 7 月 21 日在公司会议室以 通讯方式召开。会议应到董事 7 名，实到董事 7 名，公司监事、高级管理人员列 席了会议。本次会议的召集符合《公司法》和《公司章程》及有关法律、法规的 规定。会议由公司董事长 GEORGE MOHAN ZHANG 先生主持。本次会议形成 如下决议： 1、审议通过《关于收购中山科瑞自动化技术有限公司 100%股权的议案》，表 决结果：7 票赞成，0 票反对，0 票弃权。 公司董事会认为：本次交易价格公允，定价公平、合理，不存在损害公司及 股东利益的情形，不会对公司财务及经营状况产生不利影响。同时，董事会同意 授权董事长为本次交易之目的，根据境内外法律法规的规定以及本次交易的实际 情况，负责本次交易的具体实施工作，包括但不限于签署相关文件等。 证券代码：300824 证券简称： ...

Investment Rating - Industry rating: Recommended [5] Core Insights - The global commercial projection market is currently subdued due to macroeconomic factors and competition from alternatives like conference flat panels and TVs. However, the introduction of a new pure laser hybrid solution by the company XGIMI is expected to leverage its technological advantages from the consumer market to commercial applications [9][10] - In Q1 2025, the global commercial projection market saw a penetration rate of laser light sources reach 31.5%, an increase of 2.2 percentage points year-on-year, indicating a growing preference for laser technology over traditional LED and bulb sources [10] Summary by Sections 1. Weekly Topic: XGIMI Enters Commercial Projection Market - XGIMI announced its entry into the commercial projection market with a new pure laser hybrid solution at a technology conference in Chengdu [9] - The global commercial projection market faced a decline, with Q1 2025 shipments totaling 57.7 million units, down 13.9% year-on-year, while the overall projection market saw a slight increase of 2.2% [9][10] 2. Key Company Announcements - Huabao New Energy reported a significant increase in outdoor power sales in the Americas, with a 173% year-on-year growth in volume and a 106% increase in sales revenue [11] - Juxing Technology plans to acquire an 18.47% stake in Hangzhou Micro-Nano Technology for 45.4 million RMB, which will make Micro-Nano a subsidiary with projected revenues of 146 million RMB in 2024 [11] 3. Data Tracking 3.1 Raw Material Data - As of July 18, 2025, LME copper prices increased by 0.3% week-on-week, while aluminum prices remained stable [16] 3.2 Shipping Rates and Exchange Rates - The CCFI composite index decreased by 0.77% week-on-week, with specific routes showing varied changes [24] 3.3 Real Estate Data - From January to June 2025, the sales area of commercial housing decreased by 3.5% year-on-year, with significant declines in construction and new starts [27]

Financial Performance - The total operating revenue for the first half of 2025 reached 43,180.69 million, representing a 34.05% increase compared to 32,212.84 million in the same period last year [1][2] - Operating profit increased by 89.60% to 6,485.68 million from 3,420.79 million year-on-year [1] - The total profit amounted to 6,481.67 million, up 90.50% from 3,402.47 million in the previous year [1] - Net profit attributable to shareholders was 5,582.88 million, a 74.92% increase from 3,191.76 million [1] - Basic earnings per share rose by 75.79% to 0.1721 from 0.0979 [1] Revenue Composition - The "BUYDEEM" brand generated 35,621.76 million in revenue, a 43.60% increase from 24,805.90 million [2] - Domestic sales under the "BUYDEEM" brand grew by 48.40% to 33,110.47 million, driven by government policies and base effect [2] - Overseas sales saw a slight increase of 0.71% to 2,511.29 million, while OEM/ODM revenue grew by 2.05% to 7,558.93 million [2] Financial Position - Total assets increased by 4.58% to 102,263.69 million from 97,788.37 million at the beginning of the reporting period [1][3] - Shareholders' equity rose by 2.40% to 72,131.00 million from 70,440.59 million [1][3] - The company maintained a normal financial condition at the end of the reporting period [3]

Mergers and Acquisitions - Meidike plans to acquire 100% equity of Haishuo Optical Technology (Suzhou) Co., Ltd. for 2 billion KRW and 100% equity of INNOWAVE VIETNAM CO., LTD. for 1 billion KRW, totaling approximately 219.47 million USD [1] - Wuchan Zhongda's subsidiary Zhejiang Wuchan Environmental Energy Co., Ltd. intends to acquire 100% equity of Huzhou South Taihu Power Technology Co., Ltd. for 1.457 billion CNY [2] Earnings Disclosure - Tiande Yu expects total revenue of 1.208 billion CNY for the first half of 2025, a year-on-year increase of 43.35%, with net profit attributable to shareholders expected to be 152 million CNY, up 50.89% [3] - Pinming Technology anticipates net profit attributable to shareholders for the first half of 2025 to be between 28 million and 34 million CNY, representing a year-on-year increase of 231.79% to 302.89% [4] - Beiding Co., Ltd. reported a total revenue of 432 million CNY for the first half of 2025, a year-on-year increase of 34.05%, with net profit attributable to shareholders of 55.83 million CNY, up 74.92% [5] Shareholding Changes - Zhongtie Assembly's shareholder Sun Zhiqiang increased his shareholding by 950,000 shares, raising his ownership from 20.693% to 21.080%, totaling 2.7323 million shares acquired since the announcement of the buyback plan [6] - Chaozhuo Aerospace's shareholder Hangzheng Science and Technology plans to reduce its stake by up to 3%, amounting to no more than 268,810 shares [7] - Fulai New Materials' shareholder plans to reduce its stake by up to 1.33%, not exceeding 376,250 shares [8] Legal Matters - The shares held by major shareholder Wen Jianping of Bihuiyuan, totaling 37.4495 million shares, will be publicly auctioned on August 4-5, 2025 [10]

Group 1 - The core viewpoint of the article highlights the significant growth in the performance of Beiding Co., Ltd. (300824) for the first half of 2025, with total operating revenue reaching 432 million yuan, representing a year-on-year increase of 34.05% [1] - The net profit for the same period was reported at 55.83 million yuan, showing a substantial year-on-year growth of 74.92% [1] - The company has focused on dynamic optimization of its operational strategy and agile response, which contributed to the rapid growth in performance during the reporting period [1]

[Key Financial Data and Indicators for the First Half of 2025](index=1&type=section&id=Key%20Financial%20Data%20and%20Indicators%20for%20the%20First%20Half%20of%202025) This section presents the company's key financial performance metrics and balance sheet figures for H1 2025 Key Financial Data and Indicators | Item | Current Period | Prior Year Period | Percentage Change | | :--- | :--- | :--- | :--- | | **Total Operating Revenue (Million Yuan)** | 431.81 | 322.13 | 34.05% | | **Operating Profit (Million Yuan)** | 64.86 | 34.21 | 89.60% | | **Net Profit Attributable to Shareholders (Million Yuan)** | 55.83 | 31.92 | 74.92% | | **Basic Earnings Per Share (Yuan)** | 0.1721 | 0.0979 | 75.79% | | **Weighted Average Return on Net Assets** | 7.83% | 4.43% | Increased by 3.40 percentage points | | **Total Assets (Million Yuan)** | 1,022.64 | 977.88 | 4.58% (vs. Beginning of Period) | | **Shareholders' Equity Attributable to Listed Company (Million Yuan)** | 721.31 | 704.41 | 2.40% (vs. Beginning of Period) | [Explanation of Operating Performance and Financial Position](index=2&type=section&id=Explanation%20of%20Operating%20Performance%20and%20Financial%20Position) This section details the company's operating performance and financial health during the reporting period [Explanation of Operating Performance](index=2&type=section&id=2.1%20Explanation%20of%20Operating%20Performance) Revenue and profit grew significantly, primarily from domestic own-brand business, with slower growth in overseas and OEM/ODM segments Operating Performance by Segment | Item | Current Period (Million Yuan) | Prior Year Period (Million Yuan) | Year-over-Year Change | | :--- | :--- | :--- | :--- | | **"BUYDEEM"** | 356.22 | 248.06 | 43.60% | | Of which: BUYDEEM China | 331.10 | 223.12 | 48.40% | | Of which: BUYDEEM Overseas | 25.11 | 24.94 | 0.71% | | **OEM/ODM** | 75.59 | 74.07 | 2.05% | | **Total** | 431.81 | 322.13 | 34.05% | - Domestic market business, particularly the own-brand "BUYDEEM" domestic segment, achieved **48.40%** rapid growth, benefiting from government trade-in policies and base effects[6](index=6&type=chunk) - The company's own-brand overseas business and OEM/ODM business experienced slow growth, with rates of **0.71%** and **2.05%** respectively, impacted by macro factors such as international trade barriers and geopolitical conflicts[6](index=6&type=chunk) - The company's profitability significantly improved during the reporting period, with net profit attributable to shareholders increasing by **74.92%** and non-recurring net profit by **86.07%**[7](index=7&type=chunk) [Explanation of Financial Position](index=2&type=section&id=2.2%20Explanation%20of%20Financial%20Position) The company's financial position remained stable at period-end, with steady growth in total assets and shareholders' equity - At the end of the reporting period, the company's total assets increased by **4.58%** and shareholders' equity attributable to the listed company by **2.40%** compared to the beginning of the period[8](index=8&type=chunk) - Net assets per share attributable to shareholders were **2.2237 yuan**, an increase of **3.02%** from the beginning of the reporting period[8](index=8&type=chunk) [Explanation of Differences from Previous Performance Forecasts](index=2&type=section&id=Explanation%20of%20Differences%20from%20Previous%20Performance%20Forecasts) No prior performance forecasts for H1 2025 were disclosed before this preliminary earnings report - The company had not previously disclosed any performance forecasts for the first half of 2025 prior to the release of this preliminary earnings report[9](index=9&type=chunk) [Other Explanations](index=2&type=section&id=Other%20Explanations) This section clarifies the preliminary nature of the financial data, pending final audited reports - The data in this preliminary earnings report represents the company's preliminary accounting results and has not been audited by an accounting firm; final data will be subject to the 2025 semi-annual report[11](index=11&type=chunk) [Documents for Reference](index=3&type=section&id=Documents%20for%20Reference) This section lists supporting documents available for reference, including financial statements and internal audit reports - Documents for reference include comparative balance sheets and income statements signed and sealed by company executives, as well as internal audit reports signed by the head of the internal audit department[13](index=13&type=chunk)

Group 1 - The A-share small home appliance sector is experiencing a strong upward trend, with notable stocks such as Ecovacs hitting the daily limit and achieving a maximum increase [1] - Stone Technology has risen over 6%, indicating positive market sentiment towards the sector [1] - Other companies like Beiding Co., ST Dehao, and Aishida have also seen increases of over 2%, reflecting a broader rally in the small home appliance market [1]

Investment Rating - The report assigns an "Overweight" rating to the home appliance sector, indicating a projected performance exceeding the Shanghai and Shenzhen 300 Index by more than 15% [1][36]. Core Insights - The report highlights that government subsidies stimulated sales in Q2, leading to continued positive revenue growth. The competitive landscape has improved, driving profitability recovery in the small appliance sector, while leading players in major appliances are enhancing market share concentration [3][4]. Summary by Sections Overview - Domestic sales were boosted by government subsidies in Q2, with most categories achieving double-digit year-on-year growth despite some temporary restrictions. The sustainability of these subsidies is crucial for the industry's performance in the second half of the year [8][13]. Domestic Sales - The report notes that during the 618 shopping festival, online sales for various appliance categories saw significant year-on-year increases, with cleaning appliances up by 26%, water appliances by 22%, and kitchen small appliances by 22%. However, kitchen major appliances experienced a decline of 13% [13][14]. Export Sales - Q2 exports faced short-term setbacks due to uncertainties in tariff policies, with April's export growth dropping to 1.5% and May seeing a 6% decline. However, as tariff policies become clearer, exports are expected to gradually recover [16][17]. Competitive Landscape - The small appliance sector is experiencing improved competition dynamics, particularly in the robotic vacuum cleaner market, which has high growth potential and low penetration rates. The kitchen small appliance segment is also beginning to recover after two years of decline, with a growth rate exceeding 20% during the 618 festival, primarily driven by price increases [19][20]. Investment Recommendations - The report suggests two main investment themes: 1. The improvement in the competitive landscape of small appliances, particularly in the robotic vacuum sector, and the recovery of kitchen small appliances. Recommended stocks include Stone Technology (2025 PE: 18.2×), Ecovacs (2025 PE: 20.3×), Bear Electric (20.8×), and Beiding Co. (36.5×) [25][26]. 2. Concentration of market share among leading brands and high dividend yields for stable investment. Recommended stocks in this category include Midea Group (12.7×) and TCL Electronics (11.3×) [25][26].

Core Viewpoint - The home appliance sector is expected to underperform the CSI 300 index in the first half of 2025 due to tariff increases, fluctuations in the trade-in policy, and high base expectations for the second half of the year [1][2]. Group 1: Home Appliance Sector Overview - As of June 13, 2025, the home appliance sector has seen a year-to-date decline of 3.16%, underperforming the CSI 300 index by 1.37 percentage points [2]. - Key stocks showing positive performance include motorcycle and black appliance companies, such as Taotao Industry, Chunfeng Power, Ninebot, TCL Electronics, and others [2]. Group 2: White Appliance Sector - Demand differentiation between peak and off-peak seasons has increased, with a rapid recovery in Q2 2025 [3]. - China's dominance in global white appliance production remains intact, with short-term external shocks unlikely to alter long-term export growth trends [3]. - Adjustments in local subsidy policies aim to address previous imbalances and funding issues, with limited impact on annual sales expected [3]. - Emerging markets are showing stable economic growth, providing continuous incremental market opportunities for white appliance exports [3]. Group 3: Black Appliance Sector - Domestic and international demand remains robust, with significant structural upgrades towards large-size and MiniLED products [4]. - National subsidies are expected to continue driving domestic demand growth, with rapid increases in MiniLED penetration [4]. - Companies like Hisense and TCL are enhancing their overseas production capabilities, leading to expected growth in shipments and increased market share in the high-end segment [4]. Group 4: Cleaning Appliance Sector - The cleaning appliance category, particularly robotic vacuum cleaners, is benefiting significantly from national subsidies, with high growth expected in 2025 [5]. - The overseas market remains in a favorable cycle, with leading companies expanding their market share [5]. - The shift in consumer perception from optional to essential for cleaning appliances indicates substantial long-term growth potential in the domestic market [5]. Group 5: Investment Opportunities - Investment opportunities in 2025 are primarily focused on the stability of the white appliance industry and the profit improvement potential in black appliances and robotic vacuum cleaners [6].