Core Viewpoint - 康平科技 (300907) reported mixed financial results for the first half of 2025, with slight revenue growth but a decline in net profit compared to the previous year [1] Financial Performance - Total revenue for the first half of 2025 reached 574 million yuan, a year-on-year increase of 1.76% [1] - Net profit attributable to shareholders was 44.31 million yuan, down 2.24% year-on-year [1] - In Q2 2025, total revenue was 303 million yuan, showing a minimal increase of 0.09% year-on-year, while net profit decreased by 6.69% to 25.40 million yuan [1] Key Financial Ratios - Gross margin stood at 19.11%, a decrease of 1.73% year-on-year [1] - Net margin was 7.71%, down 3.42% compared to the previous year [1] - Total expenses (selling, administrative, and financial) amounted to 36.31 million yuan, accounting for 6.33% of revenue, a slight increase of 0.09% year-on-year [1] Balance Sheet Highlights - Cash and cash equivalents increased by 54.26% to 244 million yuan [1] - Accounts receivable rose by 6.63% to 384 million yuan, with accounts receivable to net profit ratio reaching 451.94% [1][3] - Interest-bearing debt decreased by 5.89% to 190 million yuan [1] Earnings Per Share - Earnings per share (EPS) was 0.46 yuan, a decrease of 2.24% year-on-year [1] - Operating cash flow per share was 0.72 yuan, down 8.61% from the previous year [1] - Net asset value per share increased by 4.33% to 8.30 yuan [1] Expense Analysis - Sales expenses increased by 31.59% due to a rise in sales personnel and consulting service fees [3] - Financial expenses decreased significantly by 113.93% due to increased interest income and reduced exchange losses [3] Cash Flow Insights - Net cash flow from financing activities decreased by 42.94% due to reduced bank financing [3] - Net increase in cash and cash equivalents fell by 33.5% as a result of decreased cash flow from operating and financing activities [3] Return on Investment - The company's return on invested capital (ROIC) was 9.29%, indicating average capital returns [3] - Historical median ROIC since listing is 10.95%, with the lowest recorded ROIC at 2.66% in 2021 [3]

Group 1 - The core viewpoint of the news is that 康平科技 (Kangping Technology) has reported its semi-annual results for 2025, highlighting the significant presence of institutional investors in its shareholding structure [1] - As of August 22, 2025, a total of 8 institutional investors hold 61.34 million shares of 康平科技, accounting for 63.90% of the total share capital [1] - The institutional holding ratio has decreased by 0.25 percentage points compared to the previous quarter [1] Group 2 - The newly disclosed public fund during this period is 博道远航混合A [1] - Foreign investment sentiment shows that one foreign fund, BARCLAYS BANK PLC, has increased its holdings, while three new foreign institutions have disclosed their holdings, including UBS AG, 高盛国际-自有资金, and MORGAN STANLEY & CO. INTERNATIONAL PLC [1] - The overall trend indicates a slight increase in foreign institutional investment in 康平科技 [1]

Core Viewpoint - Kangping Technology (300907.SZ) reported a slight increase in revenue for the first half of 2025, but net profit experienced a decline, indicating mixed financial performance [1] Financial Performance - The company achieved operating revenue of 574 million yuan, representing a year-on-year growth of 1.77% [1] - The net profit attributable to shareholders was 44.31 million yuan, showing a year-on-year decrease of 2.24% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 43.49 million yuan, reflecting a year-on-year increase of 3.68% [1] - Basic earnings per share stood at 0.4616 yuan [1]

2025年上半年非经营性资金占用及其他关联资金往来情况汇总表 上市公司名称：康平科技（苏州）股份有限公司 单位：万元 企业负责人： 主管会计工作的负责人： 会计机构负责人： | 非经营性资金占用 | | 占用方与 上市公司 | 上市公司核算的 | 2025年期初占用资金 | 2025年1-6月占用累 | 2025年1-6月占用 | 2025年1-6月偿还 | 2025年6月末占用资 | 占用形成原因 | 占用性质 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | 的关联关 | 会计科目 | 余额 | 计发生金额（不含 | 资金的利息(如 | 累计发生金额 | 金余额 | | | | | 资金占用方名称 | | | | 利息） | 有） | | | | | | | - | 系 - | - | - | - | - | - | - | - | | | 现大股东及其附属企业 | | | | | | | | | | | | 小计 | - | - | - | - | - | - | - | - | - | - | | | ...

证券代码：300907 证券简称：康平科技 公告编号：2025-052 康平科技（苏州）股份有限公司 2025 年半年度募集资金存放、管理与使用情况的 专项报告 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。 根据《上市公司募集资金监管规则》、《深圳证券交易所创业板股票上市规 则》（以下简称"《上市规则》"）、《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》（以下简称"《规范运作》"）等相关法 律法规的规定，康平科技（苏州）股份有限公司（以下简称"公司"）将 2025 年半年度募集资金存放、管理与使用情况专项报告如下： 一、募集资金基本情况 1、实际募集资金金额、资金到位情况 经中国证券监督管理委员会《关于同意康平科技（苏州）股份有限公司首次 公开发行股票注册的批复》（证监许可[2020]2258 号）同意注册，公司首次公 开发行人民币普通股（A 股）股票 2,400 万股,发行价格为 14.30 元/股，募集资 金总额为人民币 343,200,000.00 元，扣除不含税发行费用人民币 51,396,484.19 元，实际募集资金 ...

康平科技（苏州）股份有限公司 证券代码：300907 证券简称：康平科技 公告编号：2025-051 第五届董事会 2025 年第九次会议决议公告 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。 一、董事会会议召开情况 康平科技（苏州）股份有限公司（以下简称"公司"）于2025年8月10日以 电子邮件及电话等方式向全体董事和高级管理人员发出了关于召开第五届董事 会2025年第九次会议的通知，并于2025年8月21日在公司会议室以现场会议结合 通讯表决方式召开本次会议。 本次会议由董事长江建平先生召集和主持，应出席会议的董事为7人，实际 出席会议的董事为7人，其中梁清华女士以通讯方式出席会议。公司全体高级管 理人员列席了本次会议。本次会议的召集、召开及表决程序符合《公司法》和《公 司章程》的相关规定。 二、董事会会议审议情况 经与会董事认真审议，形成以下决议： 1、审议通过《关于公司2025年半年度报告及其摘要的议案》。 公司根据相关法律法规及《公司章程》的有关规定，结合自身经营情况，编 制完成了2025年半年度报告及其摘要。 表决情况：7票同意，0票反对，0票 ...

Financial Performance - The company's operating revenue for the first half of 2025 was RMB 573,798,121.41, representing a 1.77% increase compared to RMB 563,846,060.02 in the same period last year[18]. - The net profit attributable to shareholders of the listed company decreased by 2.24% to RMB 44,314,208.78 from RMB 45,327,591.08 in the previous year[18]. - The net profit after deducting non-recurring gains and losses increased by 3.68% to RMB 43,493,225.07 from RMB 41,947,524.78 year-on-year[18]. - Basic earnings per share decreased by 2.24% to RMB 0.4616 from RMB 0.4722 in the same period last year[18]. - The company's revenue for the first half of 2025 reached RMB 574 million, representing a year-on-year growth of 1.8%[26]. - The net profit attributable to shareholders for the same period was RMB 44.31 million, a decrease of 2.2% year-on-year[26]. - The total profit for the first half of 2025 was ¥50,341,679.20, slightly lower than ¥50,671,541.60 in the first half of 2024, a decrease of approximately 0.65%[139]. - The company reported a net profit margin of 21% for the current period, indicating a stable performance despite market fluctuations[150]. Cash Flow and Investments - The net cash flow from operating activities was RMB 69,217,609.96, down 8.61% from RMB 75,741,400.15 in the previous year[18]. - The company reported a significant decrease in net cash flow from financing activities, down 42.94% to ¥17,664,296.12, primarily due to reduced bank financing during the reporting period[38]. - The total cash inflow from operating activities increased to ¥666,823,630.15 in the first half of 2025, up 24.9% from ¥533,625,366.50 in the same period last year[145]. - Cash outflow from operating activities rose to ¥597,606,020.19, an increase of 30.6% compared to ¥457,883,966.35 in the first half of 2024[145]. - The company reported a net cash outflow of ¥45,673,326.54 from its parent company activities in the first half of 2025, compared to a net inflow of ¥8,952,349.96 in the same period last year[148]. - The company has committed to a project with a total investment of RMB 24.6 million for the production of electric tools, which is currently under construction[55]. - The total investment during the reporting period was ¥237,179,900.30, a decrease of 36.27% from ¥372,181,451.28 in the same period last year[49]. Assets and Liabilities - Total assets at the end of the reporting period were RMB 1,330,802,972.93, a decrease of 0.32% from RMB 1,335,076,574.06 at the end of the previous year[18]. - The net assets attributable to shareholders of the listed company increased by 5.56% to RMB 796,522,306.43 from RMB 754,596,794.83 at the end of the previous year[18]. - Total liabilities decreased to CNY 535,578,022.59 from CNY 581,686,682.13, a decline of 7.9%[132]. - Total equity increased to CNY 795,224,950.34 from CNY 753,389,891.93, reflecting a growth of 5.5%[132]. Research and Development - The company is actively investing in R&D, having launched new products such as household appliance motors and electric bicycle systems, broadening its product line and market reach[31]. - Research and development expenses rose by 13.26% to ¥19,442,230.13, indicating a commitment to innovation and product development[38]. - Research and development expenses increased by 6% to 236 million, highlighting the company's commitment to innovation[151]. Market and Customer Base - The company successfully expanded its customer base by securing LIDL as a new client, with electric tool assembly revenue now accounting for over 43% of total revenue[29]. - The company has a strong customer base, including leading firms like Bosch and TTI, which collectively hold over 50% of the market share in the electric tool industry[25]. - Revenue from the top five customers accounts for over 80%, indicating a concentration risk that could affect performance if major clients face difficulties[74]. Risk Management - The management has highlighted potential risks and strategies to address them in the report[4]. - The company faces macroeconomic risks that could negatively impact revenue and profit due to potential declines in market demand[73]. - The company is exposed to profit fluctuation risks due to exchange rate volatility and raw material price changes, with over 90% of revenue from export sales[75]. - The company plans to diversify its product offerings and expand into new industries to mitigate risks associated with customer concentration[74]. Corporate Governance and Compliance - The company has not reported any changes in the use of raised funds, maintaining the original investment commitments[54]. - There are no significant litigation or arbitration matters reported during the period[95]. - The semi-annual financial report has not been audited[93]. - The company has not faced any penalties or rectification situations during the reporting period[96]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 11,406[119]. - The largest shareholder, Kangping Holdings, holds 41.81% of shares, totaling 40,140,000 shares[119]. - No significant changes in shareholder structure were reported, with all shares held by existing shareholders[118]. - The company has not experienced any changes in the number of foreign or domestic institutional investors[118]. Environmental and Social Responsibility - The company emphasizes environmental protection and sustainable development, continuously improving production processes and enhancing employee awareness of environmental issues[88].

Market Performance - The electric motor sector increased by 0.99% compared to the previous trading day, with Kangping Technology leading the gains [1] - The Shanghai Composite Index closed at 3825.76, up 1.45%, while the Shenzhen Component Index closed at 12166.06, up 2.07% [1] Stock Performance - Kangping Technology (300907) closed at 40.90, with a rise of 7.49% and a trading volume of 91,400 shares, amounting to a transaction value of 366 million yuan [1] - Other notable performers include Zhaowei Electric (003021) with a 3.11% increase, closing at 125.56, and Xiangdian Co. (600416) with a 1.82% increase, closing at 16.74 [1] Fund Flow Analysis - The electric motor sector experienced a net outflow of 531 million yuan from institutional investors, while retail investors saw a net inflow of 584 million yuan [2] - The detailed fund flow for specific stocks shows that Kangping Technology had a net inflow of 33.45 million yuan from institutional investors, while Xiangdian Co. had a net outflow of 53.06 million yuan [3]

Market Overview - The electric motor sector increased by 2.46% compared to the previous trading day, with Kangping Technology leading the gains [1] - The Shanghai Composite Index closed at 3727.29, down 0.02%, while the Shenzhen Component Index closed at 11821.63, down 0.12% [1] Top Performers - Kangping Technology (300907) closed at 42.88, up 12.37% with a trading volume of 173,500 shares and a transaction value of 723 million yuan [1] - Jiangsu Yinli (300660) closed at 54.30, up 8.08% with a trading volume of 381,000 shares and a transaction value of 2 billion yuan [1] - Xiangdian Co. (600416) closed at 16.49, up 5.64% with a trading volume of 947,200 shares and a transaction value of 1.52 billion yuan [1] Underperformers - Ocean Motor (002249) closed at 8.12, down 3.10% with a trading volume of 2,096,300 shares [2] - Jiangte Motor (002176) closed at 9.28, down 2.11% with a trading volume of 146,710 shares [2] - Ananda (603350) closed at 42.51, down 1.94% with a trading volume of 65,000 shares [2] Fund Flow Analysis - The electric motor sector experienced a net outflow of 294 million yuan from institutional investors, while retail investors saw a net inflow of 208 million yuan [2] - The top net inflows from retail investors were observed in Kangping Technology and Jiangnan Yifan, while significant outflows were noted in Ocean Motor and Jiangsu Leili [3] Individual Stock Fund Flow - Kangping Technology had a net inflow of 42.06 million yuan from institutional investors, while retail investors had a net outflow of 66.55 million yuan [3] - Jiangsu Leili saw a net inflow of 71.27 million yuan from institutional investors, with retail investors experiencing a net outflow of 24.54 million yuan [3] - Xiangdian Co. had a net inflow of 18.2 million yuan from institutional investors, while retail investors had a net outflow of 13.3 million yuan [3]

Group 1 - The core point of the article is that Kangping Technology plans to acquire a controlling stake in Lingchen Collection to expand its presence in the smart manufacturing sector, which is seen as a crucial step for the company to explore new growth paths through deep collaboration in technology, customers, and supply chains [1][2] - The acquisition aims to enhance Kangping Technology's profitability and operational sustainability by integrating high-quality assets with smart control technology capabilities, thereby forming new profit growth points and leveraging synergies [2][3] - Lingchen Collection specializes in smart control systems and related components, with core products including motion controllers and precision transmission products, serving high-growth sectors such as consumer electronics, semiconductors, and photovoltaics [1][2] Group 2 - The complementary customer structures between Kangping Technology and Lingchen Collection are highlighted, as Kangping's motor products are primarily used in electric tools and smart home applications, while Lingchen has established a strong customer base in high-end manufacturing sectors like industrial robotics and semiconductor equipment [3] - Geographically, both companies are located in Suzhou, which facilitates supply chain integration, reduces logistics costs, and enhances supply chain responsiveness through shared resources and centralized procurement [3] - Kangping Technology's production management experience can help Lingchen Collection improve production efficiency and capacity utilization, thereby amplifying cost advantages [3][4] Group 3 - The acquisition is seen as a strategic move to transition Kangping Technology from a traditional motor manufacturer to a core component system service provider in smart manufacturing, diversifying its business structure and enhancing its long-term growth potential [4]