证券代码：300993 证券简称：玉马科技 公告编号：2025-073 山东玉马遮阳科技股份有限公司 关于对外提供委托贷款的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 重要内容提示： 1、委托贷款对象：寿光市德财农业开发有限公司（以下简称"德财农业"） 2、委托贷款金额：人民币1.00亿元 4、委托贷款利率：年利率6.00%。 5、担保方：寿光市金宏投资开发集团有限公司（以下简称"金宏投资"） 6、审议程序：经山东玉马遮阳科技股份有限公司（以下简称"公司"）2025年 12月18日召开的第三届董事会第一次临时会议审议通过，无需提交股东会审议。 7、风险提示：公司本次委托贷款可能存在德财农业届时不能按期、足额偿付借 款本金及利息的风险，敬请广大投资者注意投资风险。 一、委托贷款事项概述 1、公司拟利用暂时闲置的自有资金，通过委托银行向德财农业提供人民币1.00 亿元的委托贷款，委托贷款期限12个月。金宏投资为该笔委托贷款提供了连带责任 担保。本次委托贷款不构成关联交易，不属于深圳证券交易所《创业板股票上市规 则》等规定的不得提供财务资助的情形。 2、2 ...

山东玉马遮阳科技股份有限公司 证券代码：300993 证券简称：玉马科技 公告编号：2025-072 表决结果：同意7 票，反对0 票，弃权0 票。 三、备查文件 第三届董事会第一次临时会议决议的公告 本公司及董事会全体成员保证信息披露内容的真实、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 山东玉马遮阳科技股份有限公司（以下简称"公司"）第三届董事会第一次临时 会议通知于2025年12月13日以通讯、电子邮件发出，会议于2025年12月18日以通讯方 式召开。本次会议应参加董事7名，实际参加董事7名。公司高级管理人员列席会议， 会议由公司董事长孙承志先生召集并主持。会议的召集、召开和表决程序符合法律、 法规及《公司章程》的规定。 二、董事会会议审议情况 与会董事对本次会议需审议的议案进行了充分讨论，审议通过了以下议案： 1、审议通过了《关于对外提供委托贷款的议案》 公司目前经营情况良好，财务状况稳健，经营现金流量充沛，在保证流动性和资 金安全的前提下，公司董事会同意利用自有资金通过委托银行向寿光市德财农业开发 有限公司（下称"德财农业"）提供人民币1.00亿元的委托贷款，贷款期 ...

每经AI快讯，玉马科技（SZ 300993，收盘价：14.68元）12月18日晚间发布公告称，公司第三届第一次 董事会临时会议于2025年12月18日以通讯方式召开。会议审议了《关于对外提供委托贷款的议案》等文 件。 每经头条（nbdtoutiao）——海南封关首日直击：为中国探路，全球最大自贸港如何重塑开放边界？ （记者 王晓波） 2024年1至12月份，玉马科技的营业收入构成为：其他制造业占比100.0%。 截至发稿，玉马科技市值为45亿元。 ...

12月16日，玉马科技大宗交易成交71.71万股，成交额971.67万元，占当日总成交额的7.94%，成交价 13.55元，较市场收盘价15.12元折价10.38%。 | 交易日期 | 证券代码 | 证券简称 | 成交价格 | 成交量 | 成交会额 | 买方营业部 | 卖方营业部 | | --- | --- | --- | --- | --- | --- | --- | --- | | | | | (元) | (万股/万份) | (万元) | | | | 2025-12-16 | 300993 | 玉马科技 | 13.55 | 22.14 | 300.00 机构专用 | | 中信证券(山东) | | | | | | | | | 有限责任公司寿光 | | | | | | | | | 农圣东街证券营业 | | | | | | | | | ਵੀ | | 2025-12-16 | 300993 | 玉马科技 | 13.55 | 20.00 | 271.00 机构专用 | | 中信证券(山东) | | | | | | | | | 有限责任公司寿光 | | | | | | | | | 农圣东街证券营业 | | | | | ...

Group 1: Industry Overview - The functional shading industry in China has approximately 3,000 enterprises, with around 180 having annual sales exceeding 30 million yuan [2] - The market penetration rate for functional shading products in China is currently below 5% [2][3] - In contrast, developed countries have a market penetration rate exceeding 70% for functional shading products [4] Group 2: Competitive Landscape - The industry is structured into three tiers: - First tier: Large-scale companies with high product quality and advanced technology, targeting the mid-to-high-end market [2] - Second tier: Medium-sized companies with moderate product quality and lower technology levels [2] - Third tier: Numerous small workshop-style enterprises focusing on low-end markets through price competition [2] Group 3: Market Challenges - Domestic market faces challenges due to economic slowdown affecting consumer purchasing power and awareness of functional shading products [7][8] - The civil consumption market is still developing, primarily driven by engineering projects [8] Group 4: Global Expansion and Strategy - The company is planning to establish production facilities in Southeast Asia, with a focus on Singapore and Vietnam, contingent on trade policy stability [5] - The company currently has a low market share in global markets but sees significant potential for growth through enhanced market penetration and channel development [6] Group 5: Financial and Operational Insights - Currency fluctuations pose a manageable risk, with strategies in place to mitigate exchange rate impacts [9] - Tariff policy changes have affected order rhythms, but the company is adapting by strengthening local support and service [10] - New products are expected to enhance overall gross margins, with a pricing strategy focused on market skimming during initial launches [12] Group 6: Future Growth Drivers - Future growth is anticipated through: - Continuous introduction of high-performance new materials and outdoor functional products [13] - Expansion of domestic and international sales channels [13] - Operational efficiency improvements through management optimization and cost control [13] - Capacity reserves and technological upgrades to support future expansion [13]

Core Insights - Yuma Technology's stock increased by 2.50% on November 25, with a trading volume of 84.74 million yuan [1] - The company reported a financing buy-in of 6.43 million yuan and a financing repayment of 11.09 million yuan, resulting in a net financing outflow of 4.66 million yuan on the same day [1] - As of November 25, the total margin balance for Yuma Technology was 199 million yuan, representing 4.26% of its market capitalization [1] Financing Summary - On November 25, Yuma Technology had a financing buy-in of 6.43 million yuan, with a current financing balance of 199 million yuan, which is above the 70th percentile of the past year [1] - The company had no short-selling activity on November 25, with a short-selling balance of 0 yuan, indicating a high level of short-selling availability compared to the past year [1] Company Performance - As of September 30, Yuma Technology had 21,100 shareholders, an increase of 10.55% from the previous period, while the average number of circulating shares per person decreased by 9.54% [2] - For the period from January to September 2025, Yuma Technology achieved a revenue of 553 million yuan, a year-on-year increase of 0.49%, while the net profit attributable to shareholders decreased by 13.71% to 111 million yuan [2] - Since its A-share listing, Yuma Technology has distributed a total of 184 million yuan in dividends, with 157 million yuan distributed over the past three years [2]

Group 1: Overseas Expansion and Production Capacity - The company has initiated overseas capacity planning, starting with preliminary research in Southeast Asia since 2024, including the establishment of a subsidiary in Singapore [2] - The construction of a production base in Vietnam is currently on hold due to changes in U.S. tariff policies, with plans to proceed once the policies are clarified [3] Group 2: North American Operations - The company is implementing a localization strategy in North America, having established subsidiaries in California and Texas to serve local markets [4] - The U.S. subsidiaries focus on processing manufacturers, brand clients, and channel partners, using the "Yuma" brand for sales [4] Group 3: Impact of Tariff Policies - Recent changes in tariff policies have caused temporary disruptions in orders from the U.S., but adjustments have led to renewed focus on supply chain stability and product quality [5] - The company has not seen a significant impact on customer cooperation due to its enhanced local operations and service [5] Group 4: Product Pricing and Profit Margins - The company's products typically have significant markup after processing and branding, with customized products offering even higher profit margins [6] - The focus is on product differentiation and technical services to enhance value rather than relying solely on price competition [6] Group 5: Sales Performance of Dream Curtain Product - The Dream Curtain product has experienced a phase of market adjustment after rapid growth, with domestic sales declining but international sales increasing [8] - The product maintains a competitive edge due to its multifunctionality, and the company is increasing export efforts to tap into new growth opportunities [8] Group 6: Market Share and Future Growth Drivers - The company currently holds a low market share in key global markets, indicating significant potential for growth [9] - Future growth is expected to be driven by new high-performance materials, improved sales channel layouts, operational efficiency, and flexible production capacity [9]

Core Viewpoint - Yuma Technology (300993) has established a strategic partnership with Wuhan Zhongke, focusing on the development and application of products such as PVF film adhesives for shading, aerogel thermal insulation coatings, and ultra-thin photovoltaic film materials and flexible components [1] Group 1 - The collaboration aims to leverage the strengths of both companies to enhance product development [1] - Relevant patent technologies have entered the application stage [1]

Summary of Yuma Technology Conference Call Company Overview - Yuma Technology specializes in the research, production, and sales of functional shading materials, primarily used in building shading, energy conservation, outdoor structures, and transportation shading [3][4][7]. Financial Performance - For the first three quarters of 2025, Yuma Technology reported revenue of 553 million yuan, a slight increase compared to 551 million yuan in the same period last year [2][3]. - The net profit attributable to shareholders was 111 million yuan, a year-on-year decrease of approximately 13%, primarily due to stock incentive expenses, fluctuations in interest income, and increased R&D investments [2][3]. - After excluding non-operating factors, the net profit remained stable [3]. Market Outlook - The company remains optimistic about growth in 2026, contingent on no significant adverse impacts from tariff policies [2][3]. - Recent customer visits indicated stability in the European market, reduced supply chain concerns in North America, and increased orders from existing customers in Latin America [2][5]. - Southeast Asia showed good performance, contributing to a positive global market sentiment for 2026 [2][5]. Strategic Initiatives - Yuma Technology plans to continue expanding its overseas production capacity to mitigate global policy risks and control long-term costs [2][6]. - The company aims to finalize overseas site selection before the Spring Festival, having already evaluated multiple locations in Southeast Asia and North Africa [10]. Competitive Landscape - The functional shading materials sector is relatively niche with few competitors, allowing Yuma Technology to leverage its technological advantages and high-quality products [7]. - The company has established long-term partnerships in over 70 countries, maintaining a leading position in major export regions [7]. Regional Market Insights - China remains a primary supply base for global supply chains, with Yuma Technology focusing on enhancing product cost-effectiveness to solidify existing market shares and innovate to capture high-end markets [8]. - The North American market is recovering, with distributors considering product planning for the next year, emphasizing supply chain stability and product quality [4][14]. Challenges and Considerations - The company faces competition from local manufacturers in North America and Europe, which dominate high-end customer segments and large projects [9]. - Despite the competitive pressure, Yuma Technology's products are priced significantly lower than local competitors, providing a competitive edge [13]. Inventory and Supply Chain - The U.S. subsidiary has seen continuous growth in 2025, with low inventory levels due to tariff impacts. As tariffs stabilize, the subsidiary plans to build sufficient inventory for new products in 2026 [19]. Tariff Impact - A 10% reduction in tariffs led to a 5-10% price adjustment, with the focus shifting from price to trade stability in the U.S. market [20][21]. Market Share and Sales Trends - Yuma Technology's market share in Europe and the U.S. is relatively low, indicating a need for further market penetration [22]. - Domestic sales have remained stable in 2025, supported by increased channel development efforts [23]. Product Performance - The "Dream Curtain" product line has seen a significant decline in the Chinese market, approximately 30%, while experiencing growth in overseas markets such as Australia and Turkey [24]. - Outdoor materials and technical fabrics are strategic focuses for the next 3-5 years, with expectations for significant growth in 2026 [25][26]. Pricing Strategy - The markup from factory price to retail price can be substantial, with potential retail prices reaching up to 100 USD for certain fabrics, indicating a significant profit margin [27].

Market Overview - The home goods sector experienced a slight decline of 0.03% on November 19, with Yuma Technology leading the drop [1] - The Shanghai Composite Index closed at 3946.74, up 0.18%, while the Shenzhen Component Index closed at 13080.09, unchanged [1] Stock Performance - Notable gainers in the home goods sector included: - MengTian Home (603216) with a closing price of 17.27, up 10.00% [1] - HuaCi Co., Ltd. (001216) with a closing price of 22.67, up 10.00% [1] - Yongyi Co., Ltd. (603600) with a closing price of 12.33, up 5.66% [1] - Conversely, Yuma Technology (300993) saw a decline of 4.49%, closing at 15.30 [2] - Other notable decliners included: - Meike Home (600337) down 4.23% to 2.49 [2] - Lianxiang Co., Ltd. (603272) down 4.22% to 20.64 [2] Capital Flow - The home goods sector experienced a net outflow of 177 million yuan from institutional investors, while retail investors saw a net inflow of 41.41 million yuan [2] - The main capital inflow and outflow for selected stocks included: - Yongyi Co., Ltd. (603600) with a net inflow of 52.22 million yuan from main investors [3] - MengTian Home (603216) with a net inflow of 16.87 million yuan from main investors [3] - Yuma Technology (300993) with a net outflow of 4.49% [2]