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]

Core Viewpoint - Yuma Technology (300993.SZ) has received a notice from Yuxin Investment regarding a reduction in shareholding to below 5% [1] Summary by Sections Shareholding Changes - Yuxin Investment has reduced its shareholding in Yuma Technology by selling a total of 3,313,500 shares, which accounts for 1.075354% of the company's total share capital [1] - Following this transaction, Yuxin Investment's holdings decreased from 18,720,000 shares (6.08% of total share capital) to 15,406,500 shares (4.999981% of total share capital), bringing its ownership below 5% [1]

南财智讯11月18日电，玉马科技公告，寿光钰鑫投资中心（有限合伙）因自身资金需求，于2025年10月 15日至11月17日通过集中竞价和大宗交易方式累计减持公司股份3,313,500股，占公司总股本的1.08%。 本次权益变动后，寿光钰鑫投资中心（有限合伙）合计持有公司股份15,406,500股，占公司总股本的 4.99%，持股比例已降至5%以下。上述股份来源为公司首次公开发行前持有的股份及资本公积转增股本 取得的股份，均为无限售条件流通股，不存在质押、冻结等权利受限情形。本次减持不会导致公司控制 权变更，对公司的治理结构和持续经营无重大影响。 ...

证券代码：300993 证券简称：玉马科技 公告编号：2025-071 山东玉马遮阳科技股份有限公司 2、公司近日收到钰鑫投资出具的《关于减持比例降至 5%以下的告知函》和《简式 权益变动报告书》，钰鑫投资于 2025 年 10 月 15 日至 2025 年 11 月 17 日期间，通过集 中竞价及大宗交易方式累计减持公司股份 3,313,500 股（占公司总股本的 1.075354%）。 本次权益变动后，钰鑫投资持有的公司股份数量由 18,720,000 股（占公司总股本的 6.08%） 减少至 15,406,500 股（占公司总股本的 4.999981%），持股比例降至 5%以下。 3、本次权益变动为公司持股 5%以上股东钰鑫投资通过集中竞价、大宗交易方式减 持公司股份导致其持有公司股份比例下降至 5%以下，不触及要约收购。 4、本次权益变动后，钰鑫投资持有的公司股份数量由 18,720,000 股（占公司总股 本的 6.08%）降至 15,406,500 股（占公司总股本的 4.999981%），该股东不再属于公司持 股 5%以上的股东。 5、本次权益变动不会导致公司控股股东及实际控制人发生变化，不会对 ...

上市公司名称：山东玉马遮阳科技股份有限公司 股票上市地点：深圳证券交易所 山东玉马遮阳科技股份有限公司 简式权益变动报告书 股票简称：玉马科技 股票代码：300993 信息披露义务人：寿光钰鑫投资中心（有限合伙） 执行事务合伙人：王宝山 通讯地址：寿光市南环路南侧（农圣街3510号） 股份变动性质：股份数量减少，持股比例降至5%以下 签署日期：2025年11月18日 1 信息披露义务人声明 一、信息披露义务人依据《中华人民共和国公司法》（以下简称"《公司法 》"）、《中华人民共和国证券法》（以下简称"《证券法》"）、《上市公司收购 管理办法》（以下简称"《收购办法》"）、《公开发行证券的公司信息披露内容与 格式准则第 15 号—权益变动报告书》（以下简称"《准则15 号》"）及相关的法律 、法规编写本报告书。 二、信息披露义务人签署本报告书已获得必要的授权和批准，其履行亦不 违反信息披露义务人章程或内部规则中的任何条款，或与之相冲突。 三、依据《公司法》、《证券法》、《收购办法》、《准则15 号》的规定， 本 报告书已全面披露了信息披露义务人在玉马遮阳中拥有权益的股份变动情况。 截至本报告书签署之日，除本报告 ...

Core Insights - The home goods sector experienced a decline of 0.31% on November 12, with Yuma Technology leading the drop [1][2] - The Shanghai Composite Index closed at 4000.14, down 0.07%, while the Shenzhen Component Index closed at 13240.62, down 0.36% [1] Market Performance - Notable gainers in the home goods sector included: - Meizhi Gao (Code: 920765) with a closing price of 26.96, up 5.81% on a trading volume of 45,900 shares and a turnover of 122 million yuan [1] - Mona Lisa (Code: 002918) closed at 16.21, up 5.47% with a trading volume of 118,000 shares and a turnover of 189 million yuan [1] - ST Songfa (Code: 603268) closed at 72.29, up 5.00% with a trading volume of 64,500 shares and a turnover of 45.7 million yuan [1] - Major decliners included: - Yuma Technology (Code: 300993) closed at 17.12, down 6.29% with a trading volume of 190,000 shares and a turnover of 330 million yuan [2] - ST Yazhen (Code: 603389) closed at 47.52, down 5.00% with a trading volume of 32,600 shares and a turnover of 157 million yuan [2] - Filinger (Code: 603226) closed at 38.57, down 3.74% with a trading volume of 53,200 shares and a turnover of 205 million yuan [2] Capital Flow - The home goods sector saw a net outflow of 318 million yuan from institutional investors, while retail investors contributed a net inflow of 314 million yuan [2][3] - Key stocks with significant capital flow included: - Mona Lisa had a net inflow of 22.32 million yuan from institutional investors, while retail investors saw a net outflow of 20.70 million yuan [3] - Shangpin Home (Code: 300616) had a net inflow of 18.78 million yuan from institutional investors, with retail investors experiencing a net outflow of 15.69 million yuan [3] - Qisheng Technology (Code: 603610) had a net inflow of 12.79 million yuan from institutional investors, while retail investors faced a net outflow of 22.90 million yuan [3]

证券代码：300993 证券简称：玉马科技 公告编号：2025-070 关于2024年限制性股票激励计划 第一个归属期归属结果暨股份上市的公告 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。 重要内容提示： 山东玉马遮阳科技股份有限公司（以下简称"公司"）于 2025 年 10 月 13 日召开了第三届董事会第四次会议和第三届监事会第四次会议，审议通过了《关 于 2024 年限制性股票激励计划第一个归属期归属条件成就的议案》，近日，公 司办理了 2024 年限制性股票激励计划（以下简称"本激励计划"）第一个归属 期归属股份的登记工作。现将有关事项公告如下： 一、本激励计划简述及已履行的相关审批程序 （一）限制性股票激励计划简述 山东玉马遮阳科技股份有限公司 公司于 2024 年 9 月 19 日召开第二届董事会第六次临时会议、2024 年 10 月 10 日召开 2024 年第二次临时股东大会，审议并通过了《关于公司<2024 年限制 性股票激励计划（草案）>及其摘要的议案》，并于 2024 年 9 月 20 日披露了《激 励计划（草案）》。公司《激励计划（草 ...

Core Viewpoint - Yuma Technology's stock rose by 9.31% to a closing price of 20.31 yuan, with significant block trades occurring on November 4, totaling 1.878 million shares and a transaction value of 32.45 million yuan [1][3]. Trading Activity - A total of 9 block trades were executed, all at a price of 17.28 yuan per share, with a consistent discount of 14.92% from the market price [1][2][3]. - The first trade involved 280,000 shares for a total of 4.84 million yuan, executed by a buyer from China Merchants Securities and a seller from CITIC Securities [1]. - Subsequent trades varied in volume, with the largest being 470,000 shares, all maintaining the same price and discount rate [2][3]. Financial Performance - Over the past three months, Yuma Technology has seen a total transaction value of 32.45 million yuan from these block trades [3]. - In the last five trading days, the stock has increased by 25.53%, with a net inflow of 20.68 million yuan from major funds [3].