山东南山智尚科技股份有限公司 2025 年第二次临时股东会决议公告 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。 特别提示： 1、本次股东会未出现否决议案的情形。 证券代码：300918 证券简称：南山智尚 公告编号：2025-094 中小股东出席的总体情况： 通过现场和网络投票的中小股东 207 人，代表 股份 25,028,316 股，占公司有表决权股份总数的 4.9980％。其中通过现场投票 1 的中小股东 2 人，代表股份 15,187,582 股，占公司有表决权股份总数的 3.0329％； 通过网络投票的中小股东 205 人，代表股份 9,840,734 股，占公司有表决权股份 总数的 1.9651％。 5、公司出席会议情况 2、本次股东会不涉及变更以往股东会已通过的决议。 一、会议召开和出席情况 1、股东会召开的时间：2025 年 10 月 10 日 2、股东会召开的地点：山东省烟台市龙口市南山南路 4 号公司总部办公大 楼二楼会议室 3、本次会议由山东南山智尚科技股份有限公司(以下简称"公司")董事会 召集，会议由董事长赵亮先生主持，并采取现场 ...

证券代码：300918 证券简称：南山智尚 公告编号：2025-092 山东南山智尚科技股份有限公司 关于完成工商变更登记并换发营业执照的公告 山东南山智尚科技股份有限公司（以下简称"公司"）于 2025 年 8 月 26 日召开第三届董事会第十五次会议、于 2025 年 9 月 16 日召开 2025 年第一次临 时股东大会审议通过了《关于变更注册资本并修订〈公司章程〉的议案》，具体 内容详见公司在巨潮资讯网（http://www.cninfo.com.cn）披露的相关公告。 近日，公司完成了工商变更登记手续，并取得烟台市行政审批服务局核发的 新《营业执照》。具体情况如下： 一、本次工商变更登记的主要事项 公司注册资本由叁亿陆仟万元整变更为伍亿零陆佰壹拾叁万肆仟肆佰贰拾 柒元整。 二、公司工商变更登记后《营业执照》基本信息 名称：山东南山智尚科技股份有限公司 统一社会信用代码：9137068166139756X1 注册资本：伍亿零陆佰壹拾叁万肆仟肆佰贰拾柒元整 类型：其他股份有限公司（上市） 成立日期：2007 年 04 月 29 日 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 ...

Core Insights - Nanshan Zhishang reported a decrease in the number of shareholders to 28,977 as of September 30, a reduction of 1,933 shareholders or 6.25% compared to the previous period [2] - The company's stock closed at 22.59 yuan, reflecting a 2.96% increase, while the stock price has cumulatively decreased by 2.96% since the concentration of shares began [2] - For the first half of the year, the company achieved operating revenue of 731 million yuan, a year-on-year decline of 5.80%, and a net profit of 75.15 million yuan, down 8.66% year-on-year, with basic earnings per share at 0.1800 yuan and a weighted average return on equity of 2.78% [2]

Market Performance - The textile manufacturing sector increased by 0.46% on October 9, with Wanshili leading the gains [1] - The Shanghai Composite Index closed at 3933.97, up 1.32%, while the Shenzhen Component Index closed at 13725.56, up 1.47% [1] Individual Stock Performance - Wanshili (301066) closed at 15.66, up 5.45% with a trading volume of 113,000 shares and a transaction value of 176 million [1] - Xin'ao Co. (603889) closed at 7.05, up 3.68% with a trading volume of 496,700 shares and a transaction value of 352 million [1] - Chui Mu Co. (002083) closed at 5.04, up 3.49% with a trading volume of 440,300 shares and a transaction value of 221 million [1] - Nanshan Zhishang (300918) closed at 22.59, up 2.96% with a trading volume of 123,500 shares and a transaction value of 275 million [1] Capital Flow Analysis - The textile manufacturing sector saw a net inflow of 29.84 million from institutional investors, while retail investors experienced a net outflow of 140 million [2] - The sector's overall capital flow indicates a strong interest from institutional and speculative investors, contrasting with retail investor behavior [2][3] Stock-Specific Capital Flow - New Australia Co. (603889) had a net inflow of 29.13 million from institutional investors, while it faced a net outflow of 27.75 million from speculative investors [3] - Wanshili (301066) experienced a net inflow of 21.36 million from institutional investors, with a net outflow of 16.66 million from speculative investors [3] - Huamao Co. (000850) saw a net inflow of 14.15 million from institutional investors, indicating strong institutional support [3]

Core Points - The company has launched an employee stock ownership plan (ESOP) to raise a maximum of 62.55 million yuan, with each share priced at 1.00 yuan [1] - The total number of shares to be acquired under the ESOP is capped at 5.3691 million shares, representing 1.06% of the company's total equity [1] - The ESOP will last for 60 months and will involve up to 40 employees, including a maximum of 7 directors and senior management [1] - The first unlock period for the ESOP is set for 2025, requiring a revenue growth rate of no less than 15% compared to 2024 [3] - The second unlock period in 2026 has two conditions: either a revenue growth rate of no less than 45% or a net profit growth rate of no less than 20% compared to 2024 [3] - The company aims to align core tasks with stock incentives to enhance the commercialization of its humanoid robot business [3] Product Development - The company has officially released a new generation of tactile smart gloves, developed in collaboration with Wuhan University and Shouzhih Innovation [4] - The gloves integrate flexible sensing and drive technologies, enabling high integration of perception, driving, and processing [4] - Key features include high precision, low latency, strong comfort, and multi-platform support for applications [4] - Current application scenarios for the gloves include remote operation of industrial robots, robot skill learning, and virtual assembly testing in VR [4] Commercialization Efforts - The company plans to collaborate with Shouzhih Innovation to promote the commercialization of the smart gloves, focusing on market development, open-source software, and supply chain production [5] Financial Outlook - The company maintains its profit forecast, projecting net profits of 200 million, 230 million, and 280 million yuan for 2025 to 2027, with corresponding P/E ratios of 55x, 48x, and 39x [6][7]

Group 1 - The report highlights a marginal recovery in China's manufacturing PMI in September, indicating a rebound in production activities, with new orders and export orders showing upward trends [1] - The report suggests three main investment directions based on economic recovery and market liquidity: breakthroughs in technology AI, resonance between domestic and international markets, and the continued rise of undervalued assets [1] - In the A-share market, major indices maintained upward momentum in September, with the ChiNext index rising over 12% and net inflows from southbound funds reaching 172.65 billion yuan [3] Group 2 - The global small nucleic acid drug market is projected to grow at a compound annual growth rate of 26.1%, reaching 46.7 billion USD by 2033, driven by technological advancements and increasing clinical approvals [10] - The report details the clinical progress of small nucleic acid drugs in various therapeutic areas, indicating significant potential for growth in this sector [10] - The report recommends focusing on both international and domestic companies involved in small nucleic acid drugs, highlighting key players in the market [10] Group 3 - The report on Lian Microelectronics indicates a stable revenue growth of 14.18% year-on-year for H1 2025, driven by technological innovation and an integrated supply chain [12] - Despite the revenue growth, the company reported a significant increase in net losses, indicating ongoing profitability challenges [12] - The report emphasizes the importance of capacity expansion and integrated industry chain advantages for the company's stable operations [12] Group 4 - The report on Solon Technology highlights the opportunities created by electrification and domestic substitution trends in the nylon pipeline sector, with potential revenue growth driven by increased demand from electric vehicles [18] - The company has established long-term partnerships with over 30 automotive manufacturers, positioning itself well in the market [18] - Revenue projections for 2025-2027 indicate a growth trajectory, with expected revenues of 1.57 billion, 1.96 billion, and 2.39 billion yuan respectively [18] Group 5 - The report on Yuheng Pharmaceutical shows a decline in revenue by 9.97% in H1 2025, while net profit increased by 7.56%, indicating effective cost management [37] - The company has signed promotional agreements for new drug products, enhancing its market presence and potential revenue streams [37] - The introduction of Pemabet tablets is expected to strengthen the company's product pipeline and competitive position in the cardiovascular sector [38]

Investment Rating - The investment rating for the company is "Buy" with a target price not specified [5]. Core Insights - The company has launched an employee stock ownership plan aiming to raise up to 62.55 million yuan, with a share price of 11.65 yuan per share, and a total of 5.3691 million shares allocated, representing 1.06% of the total share capital [1][2]. - The employee stock ownership plan includes performance assessment metrics tied to revenue growth, targeting a minimum of 15% growth in 2025 and either 45% revenue growth or 20% net profit growth in 2026, based on 2024 figures [2]. - The company has officially released a new generation of tactile smart gloves, developed in collaboration with Wuhan University and Hand Intelligence Innovation, integrating multiple innovative technologies for enhanced interaction in various applications [4]. - The smart gloves are designed with advanced materials and human-like features, enabling low-latency data transmission and high precision in hand movements, with applications in remote operation of industrial robots, skill training for robots, and virtual assembly tasks [4][9]. Financial Data Summary - The company has a total share capital of 506.13 million shares, with a market capitalization of approximately 11.10 billion yuan [6]. - The projected revenue for 2025 is 1.66 billion yuan, with a growth rate of 2.87% compared to 2024, and a net profit of 200.64 million yuan, reflecting a growth of 5.13% [12]. - The company maintains a debt-to-asset ratio of 33.55% and a net profit margin of 12.66% for 2023 [6][14].

Investment Rating - The investment rating for the company is "Buy" with a target price not specified [5][4]. Core Views - The company reported a revenue of 700 million yuan for the first half of 2025, a decrease of 5.8% year-on-year, and a net profit attributable to shareholders of 75 million yuan, down 8.7% year-on-year [1]. - The company is focusing on differentiated growth through new materials, particularly in high-end markets [1][2]. - The company has adjusted its profit forecast for 2025-2027, expecting net profits of 200 million, 230 million, and 280 million yuan respectively, with corresponding P/E ratios of 55x, 48x, and 39x [4]. Product and Service Summary - **Fine Woolen Fabric**: Revenue of 340 million yuan, down 16%, with a gross margin of 38.3%, up 0.5 percentage points [2]. - **Apparel**: Revenue of 220 million yuan, down 21%, with a gross margin of 37.4%, up 4.5 percentage points [2]. - **Ultra-High Fiber**: Revenue of 90 million yuan, up 2.6%, with a gross margin of 27.2%, up 13 percentage points; this product is a strategic focus for the company [2]. - **Nylon Fiber**: Revenue of 70 million yuan, with a gross margin of 7.9% [2]. - **Others**: Revenue of 10 million yuan, up 45% [2]. Marketing Summary - Direct sales revenue was 650 million yuan, down 1.6%, while distributor sales revenue was 80 million yuan, down 31% [3]. - The company employs a "direct + agency" dual marketing model, establishing professional teams and direct offices for comprehensive market development and after-sales service [3]. Financial Data and Valuation - The company has a total market capitalization of approximately 11.1 billion yuan and a circulating market capitalization of about 9.5 billion yuan [6]. - The company’s total assets are projected to reach approximately 5.1 billion yuan by 2025, with a debt-to-asset ratio of 33.55% [10][11]. - The projected revenue growth rates for 2025-2027 are 2.87%, 15.36%, and 17.12% respectively [9]. Financial Forecast Summary - The company expects to achieve a net profit of 200.64 million yuan in 2025, with an EPS of 0.40 yuan [10][11]. - The gross margin is expected to improve to 35.27% by 2025 [11].

Group 1 - The core viewpoint of the article highlights that Nanshan Group has been recognized in the "Top 500 Chinese Manufacturing Enterprises" list, ranking 67th, which is an 11-position increase from the previous year, showcasing its strong development momentum and continuous innovation capability [1] Group 2 - Nanshan Group, founded during the early reform and opening-up period, has maintained its focus on its main business and has developed a multi-industry approach over 47 years, with key sectors including Nanshan Aluminum, Nanshan Zhishang, Hengtong Co., Yulong Petrochemical, and others [3] - The company operates in various manufacturing sectors, including non-ferrous metal smelting and rolling, textiles, petroleum and coal processing, and chemical manufacturing, demonstrating its robust industrial strength and diversified strategic layout [3] Group 3 - Nanshan Group has consistently driven technological innovation, optimized its industrial structure, improved product quality, and strengthened brand building, gaining wide market recognition [7] - The company is committed to high-quality development, guided by principles of integration, optimization, innovation, enhancement, and development, aiming to contribute more to the prosperity of Chinese manufacturing [7]

北京国枫律师事务所 2025 年员工持股计划的 关于山东南山智尚科技股份有限公司 法律意见书 国枫律证字[2025]AN172-1 号 北京国枫律师事务所 Grandway Law Offices 北京市东城区建国门内大街 26 号新闻大厦 7、8 层 邮编：100005 电话(Tel)：010-88004488/66090088 传真(Fax)：010-66090016 本法律意见书中，除非文义另有所指，下列词语或简称具有如下含义： | 南山智尚、公司 | 指 | 山东南山智尚科技股份有限公司 | | --- | --- | --- | | 《员工持股计划（草 | 指 | 《山东南山智尚科技股份有限公司 年员工持股计 2025 | | 案）》 | | 划（草案）》 | | 《持股计划管理办 | 指 | 《山东南山智尚科技股份有限公司 2025 年员工持股计 | | 法》 | | 划管理办法》 | | 本次员工持股计划/ 本持股计划 | 指 | 南山智尚拟实施的 年员工持股计划 2025 | | 持有人/参与对象 | 指 | 出资参加本持股计划的公司员工 | | 标的股票 | 指 | 本持股计划拟持有的南山智 ...