Core Viewpoint - Shaoyang Hydraulic (301079.SZ) has announced a suspension of trading to plan a major asset restructuring involving the acquisition of Chongqing Xincheng Hangrui Technology Co., Ltd. [1] Group 1: Company Actions - Shaoyang Hydraulic plans to acquire all or part of the shares of Xincheng Hangrui through a combination of issuing shares and cash payments, along with raising supporting funds [1] - The company has previously attempted a restructuring in 2023 to acquire 78% of Ningbo Weikes Hydraulic Co., Ltd., but this was terminated in February 2024 due to changes in market conditions [1][2] - In May 2024, Shaoyang Hydraulic planned to raise 150 million yuan from its controlling shareholder, but this plan was also terminated [2] Group 2: Financial Performance - In 2020, Shaoyang Hydraulic reported revenue of 338 million yuan and a net profit of 55.18 million yuan, which was the peak performance [4] - From 2021 to 2023, the company experienced a decline in revenue and net profit, with revenues of 375 million yuan, 301 million yuan, and 276 million yuan, and net profits of 50.93 million yuan, 50.13 million yuan, and 6.58 million yuan respectively [4] - In 2024, the company reported a revenue of 351 million yuan, a year-on-year increase of 27.33%, but a net profit of 6.40 million yuan, a decrease of 2.76% [4] - In Q1 2025, Shaoyang Hydraulic achieved a revenue of 61.08 million yuan, a year-on-year increase of 3.31%, but net profit and deducting non-recurring profit and loss were 810,300 yuan and 219,600 yuan, reflecting a decline of 49.45% and an increase of 171.21% respectively [5] Group 3: Market Activity - On June 20, 2024, the day before announcing the restructuring intention, Shaoyang Hydraulic's stock price hit the daily limit, closing at 31.9 yuan per share, with a year-to-date increase of 109% [3] - The company has faced regulatory scrutiny, with penalties imposed on individuals involved in insider trading related to its stock [2][3]

Core Viewpoint - Shaoyang Hydraulic is planning to acquire Chongqing Xinchenghangrui Technology Co., Ltd. through a share issuance and cash payment, aiming for a strategic partnership between two national-level specialized "little giant" enterprises in the hydraulic and high-end forging sectors [2][8]. Company Overview - Shaoyang Hydraulic, established in 1968, is a leading player in the hydraulic system industry and was the first A-share listed company in this sector in China [3]. - The company specializes in hydraulic piston pumps, cylinders, and overall hydraulic system solutions, serving various industries including construction machinery, metallurgy, and renewable energy [3]. Financial Performance - In 2023, Shaoyang Hydraulic reported total revenue of 276 million yuan, a year-on-year decrease of 8.32%, and a net profit of 6.58 million yuan, down 86.88% [3]. - For 2024, the company achieved revenue of 351 million yuan, a 27.33% increase, but net profit fell to 6.40 million yuan, a decline of 2.76% [3]. - In Q1 2025, revenue was 61.08 million yuan, up 3.31%, while net profit dropped 49.45% to 810,300 yuan [4]. Strategic Moves - The company previously terminated a 150 million yuan private placement plan, which may have been a preparatory step for the current acquisition [3]. - Shaoyang Hydraulic aims to enhance profitability through three strategies: technological innovation, cost control, and pursuing synergistic cooperation projects, with the acquisition of Xinchenghangrui being a concrete implementation of the latter [6]. Target Company Overview - Xinchenghangrui, established in 2004, specializes in high-end forging capabilities and has a comprehensive production capacity for various special materials [7]. - The company achieved a significant milestone in 2025 by delivering China's first large forging for ultra-supercritical steam turbines, marking a technological breakthrough in this field [8]. Market Context - The shift from an independent IPO plan to acquisition reflects changes in the current capital market environment, with a notable increase in M&A activities among A-share listed companies [8].

Core Viewpoint - The article discusses the planned acquisition of Chongqing Xincheng Hangrui Technology Co., Ltd. by Shaoyang Weike Hydraulic Co., Ltd. as a strategic move to strengthen their market positions amid performance pressures and the trend of domestic substitution in the industry [1][2]. Company Overview - Shaoyang Weike Hydraulic, established in 1968, is a leading player in the hydraulic systems sector and was the first A-share listed company in this field in China, listed on the ChiNext board in October 2021 [4]. - The company specializes in hydraulic piston pumps, cylinders, and overall hydraulic system solutions, serving various sectors including construction machinery, metallurgy, and renewable energy [4]. Financial Performance - In 2023, Shaoyang Weike Hydraulic reported a total revenue of 276 million yuan, a year-on-year decrease of 8.32%, and a net profit of 6.58 million yuan, down 86.88% year-on-year [4]. - For 2024, the company achieved a revenue of 351 million yuan, a year-on-year increase of 27.33%, but net profit declined to 6.40 million yuan, a decrease of 2.76% [5]. - In Q1 2025, revenue was 61.08 million yuan, up 3.31% year-on-year, while net profit fell to 810,300 yuan, down 49.45% year-on-year [6]. - The overall gross margin has been declining, from 34.33% in 2017 to 21.77% in 2024, a drop of 12.56 percentage points [6]. Strategic Moves - The company had previously terminated a 150 million yuan private placement plan, which may have been a preparatory step for the current acquisition [4]. - Shaoyang Weike Hydraulic aims to enhance profitability through three strategies: technological innovation, cost control, and seeking synergistic cooperation projects, with the acquisition of Xincheng Hangrui being a concrete implementation of the latter strategy [8]. Acquisition Details - Xincheng Hangrui, established in 2004, specializes in high-end forging and has capabilities in free forging, die forging, and precision casting, with products made from special materials like high-temperature alloys and titanium alloys [10]. - The company had previously planned to go public independently but shifted to being acquired, reflecting changes in the capital market environment [12].

Core Viewpoint - The company plans to change its business scope and amend its articles of association, which requires approval from the shareholders' meeting [1][3]. Group 1: Business Scope Changes - The company intends to expand its business scope to include the research, development, manufacturing, and sales of oil drilling tools, equipment, and materials, in addition to its existing hydraulic components and systems [1]. - The revised business scope will also cover the import and export of raw materials, machinery, instruments, and hydraulic components necessary for the company's production and research [1]. Group 2: Corporate Governance - The proposed amendments to the articles of association will be submitted for approval at the company's first extraordinary shareholders' meeting in 2025, requiring a two-thirds majority of the voting rights present [3]. - The board of directors will seek authorization from the shareholders' meeting to handle the necessary business registration and related matters following the approval [3].

Core Viewpoint - The company has implemented a stock incentive plan, which has undergone various approvals and adjustments, aimed at aligning employee interests with company performance and enhancing shareholder value [1][2][3][4][5][6]. Summary by Sections Approval Procedures - On April 20, 2023, the company held a board meeting to approve the draft of the 2023 Restricted Stock Incentive Plan and its management measures, with independent directors providing their opinions [1]. - Subsequent meetings on April 24 and April 26, 2023, further revised and approved the plan, with no objections raised during the public notice period for the incentive recipients [2]. Shareholder Meetings - The annual shareholder meeting on May 12, 2023, approved the revised incentive plan and related proposals, including a self-examination report on insider trading [3]. - Additional meetings in May 2023 and August 2023 confirmed the granting of restricted stocks to incentive recipients, with independent directors and the supervisory board providing their consent [3][4]. Adjustments to the Plan - On April 1, 2024, the board approved the repurchase and cancellation of certain restricted stocks, which was also ratified by the annual shareholder meeting on April 24, 2024 [4]. - The board meetings in May 2025 continued to adjust the incentive plan, including the repurchase prices for restricted stocks based on performance and employee status [5][6]. Impact of Adjustments - The adjustments to the stock incentive plan's granting and repurchase prices are in compliance with relevant regulations and are not expected to materially affect the company's financial status or operational results [6]. Legal Opinions - Legal counsel confirmed that the adjustments have received necessary approvals and comply with applicable laws and regulations, ensuring no harm to shareholder interests [6].

证券代码：301079 证券简称：邵阳液压 公告编号：2025-036 邵阳维克液压股份有限公司 关于调整2023年限制性股票激励计划相关事项的公告 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。 邵阳维克液压股份有限公司（以下简称"公司"或"邵阳液压"）于 2025 年 6 月 23 日召开第六届董事会第三次会议。审议通过《关于调整 2023 年限制性股 票激励计划相关事项的议案》，有关事项具体如下： 一、本次股权激励计划已履行的相关审批程序 （五）2023 年 5 月 25 日，公司召开第五届董事会第七次会议、第五届监 事会第六次会议，审议通过了《关于调整 2023 年限制性股票激励计划相关事项 的议案》和《关于向激励对象首次授予限制性股票的议案》，公司独立董事对 此发表了同意的独立意见，公司监事会对本次授予限制性股票的激励对象名单 进行了核实。 同日，公司召开第五届监事会第四次会议，审议并通过《关于公司〈2023 年限制性股票激励计划（草案）〉及其摘要的议案》《关于公司〈2023 年限制 性股票激励计划实施考核管理办法〉的议案》《关于核查公司 2023 ...

湖南启元律师事务所 关于邵阳维克液压股份有限公司 调整2023年限制性股票激励计划相关事项的 法律意见书 湖南省长沙市芙蓉区建湘路 393 号世茂环球金融中心 63 层 410000 为出具本法律意见书，本所特作如下声明： （一） 本所依据我国法律、法规、地方政府及部门规章、规范性文件及中 国证监会、证券交易所的有关规定以及本法律意见书出具日以前已经发生或者存 在的事实发表法律意见。 （二） 本所已严格履行了法定职责，遵循了勤勉尽责和诚实信用原则，对 公司的行为以及本次申请的合法、合规、真实、有效进行了充分的核查验证，保 证本法律意见书不存在虚假记载、误导性陈述及重大遗漏。 （三） 本所同意将本法律意见书作为公司实施本次激励计划相关事项调整 的必备文件之一，随其他申请材料一起上报或公开披露，并依法对出具的法律意 见书承担相应的法律责任。 （四） 本所出具法律意见是基于公司已向本所保证：公司及其实际控制人、 董事、监事、其他高级管理人员及相关自然人已向本所提供了本所律师认为出具 法律意见所必需的、真实、完整、有效的原始书面材料、副本材料或者口头证言， 并无隐瞒、虚假或重大遗漏之处，所有资料上的签名及/或印章均系 ...

证券代码：301079 证券简称：邵阳液压 公告编号：2025-035 邵阳维克液压股份有限公司 关于变更经营范围及修订公司章程并办理工商变更登记的公告 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。 本事项尚需提交公司 2025 年第一次临时股东会审议，且作为特别决议议案， 需经出席股东会的股东（包括股东代理人）所持有效表决权股份总数的三分之二 以上（含）同意，同时，董事会提请股东会授权董事会或经营管理层办理上述工 商备案等事宜，具体事宜以市场监督管理部门核准、登记为准。授权的有效期限 自股东会审议通过之日起至本次章程备案办理完毕之日止。 特此公告。 邵阳维克液压股份有限公司董事会 2025 年 6 月 24 日 邵阳维克液压股份有限公司（以下简称"公司"）于 2025 年 6 月 23 日召开 第六届董事会第三次会议，审议通过了《关于变更经营范围及修订公司章程并办 理工商变更登记的议案》，本议案尚需提交公司股东会审议。根据《中华人民共 和国公司法》《中华人民共和国证券法》《上市公司章程指引》《深圳证券交易 所创业板股票上市规则》《深圳证券交易所上市公司自律 ...

证券代码：301079 证券简称：邵阳液压 公告编号：2025-037 邵阳维克液压股份有限公司 关于召开公司2025年第一次临时股东会的通知 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。 邵阳维克液压股份有限公司（以下简称"公司"或"本公司"）于 2025 年 6 月 23 日召开第六届董事会第三次会议，审议通过了《关于提请公司召开 2025 年第一次临时股东会的议案》，同意公司于 2025 年 7 月 9 日（星期三）14:30 召 开 2025 年第一次临时股东会，会议有关事项如下： 一、召开会议的基本情况 1、股东会届次：2025 年第一次临时股东会 2、股东会的召集人：公司董事会 3、会议召开的合法、合规性：本次股东会的召开符合有关法律法规、部门 规章、规范性文件和《公司章程》的规定。 4、会议召开的日期、时间： （1）现场会议召开时间：2025 年 7 月 9 日（星期三）14:30 （2）网络投票时间： 其中：①通过深圳证券交易所交易系统进行网络投票的具体时间为：2025 年 7 月 9 日 9:15-9:25，9:30-11:30 和 13: ...

一、董事会会议召开情况 邵阳维克液压股份有限公司（以下简称"公司"）第六届董事会第三次会议 于 2025 年 6 月 23 日（星期一）上午以通讯表决的方式召开。本次会议的通知已 于 2025 年 6 月 20 日通过电话、电子邮件等方式送达全体董事。会议由董事长粟 武洪先生召集并主持，应出席董事 5 人，实际出席董事 5 人，公司高级管理人员 列席了本次会议。 本次会议的召集、召开符合《中华人民共和国公司法》等法律、行政法规、 部门规章、规范性文件和《公司章程》的有关规定，会议合法、有效。 证券代码：301079 证券简称：邵阳液压 公告编号：2025-034 邵阳维克液压股份有限公司 第六届董事会第三次会议决议公告 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。 二、董事会会议审议情况 会议经与会董事认真审议，并以书面表决方式通过以下议案： 1、审议并通过了《关于变更经营范围及修订<公司章程>并办理工商变更登 记的议案》 根据《中华人民共和国公司法》《中华人民共和国证券法》《上市公司章程 指引》《深圳证券交易所创业板股票上市规则》《深圳证券交易所上市公司自 ...