Core Viewpoint - The company continues to show improvement in Q2, with significant growth in revenue and profit, supported by national subsidies and expansion into high-end niche markets [1][2]. Financial Performance - In H1 2025, the company achieved revenue of 430 million yuan, a year-on-year increase of 34.1%, and a net profit attributable to shareholders of 56 million yuan, up 74.9% [2]. - Q2 2025 revenue reached 220 million yuan, reflecting a 34.7% year-on-year growth, while net profit attributable to shareholders was 22 million yuan, marking a 140.9% increase [2]. - The company expects net profit attributable to shareholders for 2025-2027 to be 125 million, 147 million, and 169 million yuan, respectively, with EPS projected at 0.38, 0.45, and 0.52 yuan, indicating growth rates of 80.1%, 17.6%, and 14.9% [2]. Business Segments - Domestic business for the company's self-owned brand (Beiding China) generated 331 million yuan in H1 2025, a 48.4% increase year-on-year, with Q1 and Q2 revenues of 166 million and 165 million yuan, respectively [2][3]. - The OEM/ODM business reported 76 million yuan in H1 2025, a 2.05% year-on-year increase, with Q1 and Q2 revenues of 35 million and 41 million yuan, respectively [3]. Market Dynamics - The company benefits from the new appliance replacement subsidy mechanism, which provides higher actual reductions for high-ticket products, enhancing the impact of national subsidies [3]. - The company has increased its offline distribution efforts, collaborating with major retailers like Sam's Club and Pang Donglai to tap into new market segments [3]. Profitability and Efficiency - The company's net profit margin in Q2 2025 was 10.2%, an increase of 4.5% year-on-year, supported by a reduction in the number of online brands and improved competitive dynamics in the industry [3]. - Continuous optimization of operational strategies and internal cost reduction efforts have contributed to the improvement in net profit margins [3].

Group 1 - The core point of the article is that Beiding Co., Ltd. plans to acquire 100% equity of Zhongshan Keri Automation Technology Co., Ltd. for 156 million yuan to enhance its manufacturing capabilities and optimize its business structure [1][2] - The acquisition is part of Beiding's strategy to expand its product lines and improve supply chain management, which is essential for its manufacturing capacity upgrade and overall business layout [1][2] - Zhongshan Keri, established in May 2014, is currently in a loss-making state, with projected revenues of 258 million yuan and 1.199 million yuan for 2024 and the first half of 2025, respectively [2] Group 2 - Beiding's main business includes its own brand "Beiding BUYDEEM" and OEM/ODM services, with a reported revenue of 431 million yuan in the first half of 2025, marking a year-on-year increase of 34.05% [2][3] - The "Beiding BUYDEEM" brand achieved a revenue of 356 million yuan in the first half of 2025, reflecting a growth of 43.6%, driven by domestic market policies and base effects [3] - The company's overseas business faced challenges due to geopolitical tensions and trade uncertainties, resulting in modest growth of 0.71% in international sales [3]

Group 1 - The company Shenzhen Beiding Crystal Technology Co., Ltd. (referred to as "Beiding") has decided to acquire 100% equity of Zhongshan Keri Automation Technology Co., Ltd. for a total price of RMB 156 million [5][7][30] - The acquisition was approved unanimously by the board of directors during the 19th meeting of the fourth board session held on July 21, 2025 [1][8][32] - The board believes that the transaction price is fair and reasonable, and it will not adversely affect the company's financial and operational status [2][30][32] Group 2 - The acquisition will allow Zhongshan Keri to become a wholly-owned subsidiary of Beiding and will be included in the consolidated financial statements of the company [7][12][30] - The transaction does not constitute a related party transaction or a major asset restructuring, thus it does not require approval from the shareholders' meeting [6][8][30] - The acquisition is seen as a strategic move to enhance the company's manufacturing capabilities and expand its product line, supporting overall business growth [29][30] Group 3 - The financial assessment of Zhongshan Keri indicates total assets of RMB 86.6181 million and total liabilities of RMB 21.4037 million, resulting in a net asset value of RMB 65.2144 million [16][20] - The valuation report shows an assessed equity value of RMB 156.4563 million, with an appreciation of RMB 91.2419 million, reflecting a 139.91% increase due to rising land and property values [16][20] - The payment structure for the acquisition includes an initial payment of 95% of the transaction price upon approval from Keri Technology's shareholders, followed by the remaining 5% within a year [22][30]

Core Viewpoint - Shenzhen Beiding Crystal Technology Co., Ltd. (referred to as "the company" or "Beiding") held its 19th meeting of the 4th Board of Directors on July 21, 2025, where it was unanimously agreed that the transaction price for acquiring 100% equity of Zhongshan Keri Automation Technology Co., Ltd. is fair and reasonable, with no adverse impact on the company's financial and operational status [1][2]. Group 1 - The meeting was convened with all 7 directors present, complying with the Company Law and relevant regulations [1]. - The Board of Directors authorized the chairman to implement the transaction, including signing relevant documents as per domestic and international laws [1]. - The decision was made with 7 votes in favor, 0 against, and 0 abstentions, indicating full support from the board members [1]. Group 2 - The company disclosed the acquisition details through various financial news platforms, including the China Securities Journal and Shanghai Securities Journal [2].

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]