证券代码：300946 证券简称：恒而达 编号：2025-044 2.本次股东大会未涉及变更以往股东大会已通过的决议。 福建恒而达新材料股份有限公司 2025年第一次临时股东大会会议决议公告 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。 特别提示： 1.本次股东大会未出现否决议案的情形。 一、会议召开和出席情况 （一）会议召开情况 1.会议召开方式：以现场会议与网络投票相结合的方式 2.会议召开时间： （1）现场会议召开时间：2025年9月15日15:00。 （2）网络投票时间：通过深圳证券交易所交易系统进行网络投票的时间为 2025年9月15日9:15-9:25、9:30-11:30及13:00-15:00；通过深圳证券交易所互联网 投票系统进行网络投票的时间为2025年9月15日9:15-15:00期间的任意时间。 3.现场会议召开地点：福建省莆田市荔城区新度镇新度村亭道尾228号福建 恒而达新材料股份有限公司（以下简称公司）会议室 4.会议召集人：公司董事会 5.会议主持人：公司董事长林正华先生 （二）会议出席情况 1.股东出席会议的总体情况：出席20 ...

为保证公司董事会工作的有序进行，经全体董事同意，公司于同日在福建省 莆田市荔城区新度镇新度村亭道尾228号公司会议室以现场会议与通讯相结合的 方式召开了第三届董事会第七次会议，会议通知及材料会前已送达全体董事及高 级管理人员。本次会议由公司董事长林正华先生召集并主持，会议应到董事7名， 实际参加会议董事7名（其中独立董事陈菡女士以通讯方式参加本次会议）本次 会议的召集、召开程序符合《中华人民共和国公司法》《公司章程》等有关规定。 福建恒而达新材料股份有限公司 第三届董事会第七次会议决议公告 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 证券代码：300946 证券简称：恒而达 编号：2025-046 福建恒而达新材料股份有限公司（以下简称公司）于2025年9月15日召开了 2025年第一次职工代表大会，选举产生了公司第三届董事会职工代表董事。 2025年09月16日 二、董事会会议审议情况 审议通过了《关于补选第三届董事会战略委员会委员的议案》。 因林正雄先生不再担任公司非独立董事及董事会战略委员会委员，经评估及 结合各位董事的履历， ...

Group 1 - The company, Heng Er Da (300946), will participate in the 25th China International Industrial Expo, with booth number E038 in Hall 4.1 [1] - Due to the timing of the acquisition of SMS, the company will not be able to display physical grinding machines at the expo, as the exhibition space is limited [1] - As an alternative, the company will showcase various high-precision component samples processed by SMS grinding machines at the booth [1]

Core Viewpoint - The report from Huaxi Securities indicates that Heng'erda's net profit attributable to shareholders for the first half of the year was 43 million yuan, a year-on-year decrease of 22.5% [1] Financial Performance - In Q2, the company achieved a net profit of 23 million yuan, reflecting a year-on-year decline of 14.8% but a quarter-on-quarter increase of 15.3% [1] - Revenue from the traditional core business of metal cutting tools remained stable at 260 million yuan, showing no significant change year-on-year [1] Product Segment Analysis - Revenue from intelligent CNC equipment was 10.66 million yuan, down 41.0% year-on-year, as the company actively reduced the scale of business in categories with severe homogenization competition [1] - Revenue from rolling functional components reached 40.87 million yuan, a significant increase of 208.9% year-on-year, with sales of linear guideway products aimed at mid-to-high-end downstream users increasing by 758.3% year-on-year, raising its share in the rolling functional components business from 4.3% to 11.9% [1] Strategic Initiatives - The company strategically laid out the rolling functional components industry in 2022, focusing on the industrialization of linear guideway products, which has led to increased sales scale and continuous optimization of production processes [1] - The company is accelerating the research and development of ball screw assemblies and planetary roller screw assemblies to address the heavy reliance on imported high-precision CNC thread grinding machines in the manufacturing of screw products [1] - In May 2025, the company acquired the globally leading thread grinding machine company, Germany's SMS, to provide core equipment support for the mass production of high-precision rolling functional components [1] Investment Rating - The report maintains an "overweight" rating for the company [1]

Group 1 - The core point of the article highlights the recent decline in the stock price of Heng Er Da, which fell by 5% to 53.91 CNY per share, with a trading volume of 186 million CNY and a turnover rate of 4.46%, resulting in a total market capitalization of 8.41 billion CNY [1] - Heng Er Da New Materials Co., Ltd. is based in Putian City, Fujian Province, and was established on November 20, 1995. The company was listed on February 8, 2021, and its main business involves the research, production, and sales of metal cutting tools and supporting intelligent CNC equipment [1] - The revenue composition of Heng Er Da includes die-cutting tools (42.21%), sawing tools (38.74%), rolling functional components (12.79%), intelligent CNC equipment (3.34%), and others (2.92%) [1] Group 2 - From the perspective of major fund holdings, one fund under Hive Fund has a significant position in Heng Er Da. The Hive Advanced Manufacturing Mixed Initiation A Fund (019006) held 6,000 shares in the second quarter, accounting for 2.38% of the fund's net value, ranking as the ninth largest holding [2] - The Hive Advanced Manufacturing Mixed Initiation A Fund was established on August 16, 2023, with a latest scale of 11.77 million CNY. Year-to-date, it has achieved a return of 31.29%, ranking 2044 out of 8180 in its category, and a one-year return of 63.25%, ranking 1541 out of 7967 [2] - The fund managers of Hive Advanced Manufacturing Mixed Initiation A are Wu Qiong and Sun Ke, with Wu having a tenure of 2 years and 20 days and Sun having a tenure of 238 days. The total asset scale of the fund is 11.86 million CNY [3]

Core Viewpoint - The collaboration between Heng Er Da's subsidiary Heng Wang Technology and Northwestern Polytechnical University aims to enhance the performance verification of planetary roller screw thread grinding equipment, which is crucial for humanoid robot joints [1][2][3] Group 1: Company Developments - Heng Er Da has been focusing on high-end manufacturing applications and domestic substitution opportunities in industries such as industrial mother machines and humanoid robots [2] - The company fully acquired the leading thread grinding machine manufacturer, German SMS Maschinenbau GmbH, in May 2025, establishing a European R&D design center for grinding machines and rolling components [2] - Heng Er Da is advancing the localization of SMS thread grinding machines and the specialization of ball/roller screw grinding machines, aiming for a strategic layout of "European technology, Chinese manufacturing, global market" [2] Group 2: Collaboration with Academia - The partnership with Northwestern Polytechnical University is seen as a systematic connection between innovative manufacturing enterprises and cutting-edge academic technology, addressing national advanced manufacturing and new productivity strategic needs [3] - The collaboration is expected to leverage the combined strengths of academia and industry, promoting the transformation of research results, talent cultivation, joint technological breakthroughs, resource sharing, and technological innovation [3] - Northwestern Polytechnical University has a strong background in engineering research and has successfully transformed research results into practical applications in various equipment [2]

Core Viewpoint - The company, Hengerd, reported a steady growth in its main business with a revenue of 320 million yuan in the first half of 2025, marking a year-on-year increase of 6.85%. However, the net profit attributable to shareholders decreased by 22.53% to 43.11 million yuan due to increased expenses related to market expansion and strategic acquisitions [2]. Group 1 - The rolling functional components business showed strong growth, with a gross margin of 3.28% in the first half of 2025, indicating a preliminary turnaround to profitability [2]. - The decline in net profit and net profit excluding non-recurring items in the second quarter of 2025 was significantly reduced compared to the first quarter, reflecting a recovery in product profitability and overall operational efficiency [2]. - The company completed the acquisition of SMS Maschinenbau GmbH, a leading global manufacturer of thread grinding machines, which addresses the technical gap in ultra-high precision thread grinding in China [3]. Group 2 - The acquisition of SMS provides critical equipment support for the research and industrialization of rolling functional components, helping to overcome core bottlenecks in processing precision, efficiency, and yield rates in China [3]. - The localization of SMS's high-precision thread grinding machines is progressing smoothly with the support of SMS's technical team, and a domestic supply chain is being rapidly established [3]. - The company aims to focus on the construction of an industrial ecosystem for intelligent CNC equipment and core functional components, accelerating the development of ball screw assemblies and planetary roller screw assemblies, while promoting the localization of SMS's high-precision thread grinding machines [3].

据证券之星公开数据整理，近期恒而达（300946）发布2025年中报。截至本报告期末，公司营业总收入 3.2亿元，同比上升6.85%，归母净利润4310.94万元，同比下降22.53%。按单季度数据看，第二季度营 业总收入1.69亿元，同比上升11.53%，第二季度归母净利润2308.96万元，同比下降14.81%。本报告期 恒而达公司应收账款体量较大，当期应收账款占最新年报归母净利润比达209.98%。 本次财报公布的各项数据指标表现一般。其中，毛利率29.52%，同比减7.09%，净利率13.49%，同比减 27.77%，销售费用、管理费用、财务费用总计2683.89万元，三费占营收比8.4%，同比增33.38%，每股 净资产7.74元，同比减19.08%，每股经营性现金流-0.09元，同比增6.41%，每股收益0.28元，同比减 22.22% 业务评价：公司去年的ROIC为7.1%，资本回报率一般。去年的净利率为14.9%，算上全部成本后，公 司产品或服务的附加值高。从历史年报数据统计来看，公司上市以来中位数ROIC为15.47%，投资回报 也很好，其中最惨年份2024年的ROIC为7.1%，投资回报一 ...

Financial Performance - The company achieved a revenue of 31,951.22 million yuan in the first half of 2025, representing a year-on-year growth of 6.85% [2] - The net profit attributable to shareholders was 4,310.94 million yuan, a decrease of 22.53% year-on-year [2] - The net profit excluding non-recurring items was 4,167.28 million yuan, down 24.64% year-on-year [2] - The gross margin for rolling functional components was 3.28%, indicating a turnaround to profitability [4] SMS Acquisition Progress - The company signed an asset purchase agreement with SMS Maschinenbau GmbH on May 8, 2025, and completed the asset transfer by June 4, 2025 [6] - SMS Precision Machines GmbH has resumed production and started receiving new customer orders [6] - The company is building a localized supply chain for SMS products and has completed the domestic conversion of core product technical drawings [6] Product Development and Market Strategy - The company is advancing the localization of SMS high-precision thread grinding machines, focusing on equipment design, supply chain construction, and technical personnel training [3] - Sales revenue from linear guide rail products targeting mid-to-high-end users increased by 758.27%, with their market share rising from 4.28% to 11.88% [4] - The company is collaborating with Xi'an Wanteng Information Technology Co., Ltd. to integrate high-precision grinding machine advantages with planetary roller screw technology [8] Material Development - The company is exploring the application of high-nitrogen steel materials in humanoid robots, focusing on optimizing material process parameters [9]

智通财经APP讯，恒而达(300946.SZ)发布2025年半年度报告，该公司营业收入为3.2亿元，同比增长 6.85%。归属于上市公司股东的净利润为4310.94万元，同比减少22.53%。归属于上市公司股东的扣除非 经常性损益的净利润为4167.28万元，同比减少24.64%。基本每股收益为0.28元。 ...