Core Viewpoint - The company, Ruina Intelligent (301129.SZ), clarifies that its main business does not involve directly providing heating services to end users, thus it does not engage in data related to heating area [1] Group 1: Business Model - The company primarily provides core products for the intelligentization of heating systems to heating enterprises [1] - The focus is on helping heating companies enhance their production technology and management levels comprehensively [1] - The company's solutions aim to ensure heating quality while maximizing energy savings [1]

Core Viewpoint - The company, Ruina Intelligent (301129.SZ), has developed a magnetic levitation compressor that meets both heating demands at 50°C in winter and cooling demands at 7°C in summer, indicating its versatility in applications requiring both cooling and heating loads [1] Group 1 - The company's self-developed magnetic levitation compressor can cater to dual needs for heating and cooling [1] - Currently, the company's business focus remains on the heating sector, with no involvement in cooling or refrigeration-related businesses [1]

Core Viewpoint - The company, Ruina Intelligent (301129.SZ), focuses on providing comprehensive urban smart heating solutions for heating companies, covering key aspects of the heating system from heat sources to end users [1] Group 1: Business Overview - The company primarily operates in the smart heating sector, offering one-stop solutions for urban heating [1] - Its business encompasses critical components of the heating system, including heat sources, heating networks, heating stations, and end users [1] Group 2: Technology and Innovation - The company has developed efficient intelligent magnetic levitation heat pump units and modular heat pump units that can recover waste heat from sources such as urban sewage and large industrial processes [1] - These technologies enable the extraction of low-grade heat sources for heating, facilitating multi-energy complementarity [1] Group 3: Future Plans - Currently, the company does not have plans to engage in waste heat power generation or related electrical business [1]

Core Viewpoint - The recent financial report of Ruina Intelligent (301129) shows significant growth in revenue and improvement in profitability metrics, indicating a positive trend in the company's financial health and operational efficiency [1][3]. Financial Performance - As of the latest report, the company's total revenue reached 92.5867 million yuan, a year-on-year increase of 27.2% [1]. - The net profit attributable to shareholders was -6.9287 million yuan, showing a year-on-year improvement of 59.63% [1]. - In Q2 alone, total revenue was 80.5169 million yuan, up 83.71% year-on-year, with a net profit of 14.5235 million yuan, reflecting a 278.43% increase [1]. - The gross margin improved to 75.13%, a year-on-year increase of 42.47%, while the net margin was -7.48%, up 68.26% year-on-year [1]. - Total expenses (selling, administrative, and financial) amounted to 61.1831 million yuan, accounting for 66.08% of revenue, a decrease of 10.65% year-on-year [1]. Key Financial Ratios - The company's return on invested capital (ROIC) was 4.44%, indicating a relatively weak capital return, while the historical median ROIC since listing is 20.93% [3]. - The net profit margin for the previous year was 17.93%, suggesting high added value in products or services [3]. - The average operating cash flow over the past three years was negative, raising concerns about cash flow management [3]. Technological Advancements - The company has made significant advancements in technology, including the RUN-STORM I smart heating system, which integrates big data, cloud computing, and digital twin technology to enhance energy efficiency and reduce carbon emissions by 10%-30% [4]. - The development of a 100kW magnetic levitation centrifugal compressor fills a gap in waste heat recovery and heating, characterized by low vibration, low noise, and high efficiency [5]. - The integration of the RUN I intelligent system with DeepSeek's large model aims to transform the industry from experience-driven to data-driven decision-making [5].

Core Insights - 瑞纳智能 (301129.SZ) released its 2025 semi-annual report on August 28, 2025, indicating a total of 5 institutional investors holding shares, amounting to 10.96 million shares, which represents 8.06% of the total share capital [1] Institutional Holdings - The institutional investors include 宁波梅山保税港区瑞瀚远投资管理合伙企业 (Limited Partnership), 宁波梅山保税港区长风盈泰投资管理合伙企业 (Limited Partnership), 中国建设银行股份有限公司 - 国寿安保智慧生活股票型证券投资基金, BARCLAYS BANK PLC, and UBS AG, with a total institutional holding ratio increase of 0.20 percentage points compared to the previous quarter [1] Social Security Fund - There was one social security fund disclosed this period, which is 汇添富基金管理股份有限公司 - 社保基金 1802组合, remaining unchanged from the previous quarter [1] Foreign Investment - One new foreign institution disclosed this period is BARCLAYS BANK PLC, while UBS AG was not disclosed in this quarter compared to the previous one [1]

Core Points - The company has approved a profit distribution plan, distributing a cash dividend of 0.74 yuan per 10 shares to all shareholders, based on a total of 135,917,400 shares [3] - The company plans to amend its articles of association and related governance systems, including the repurchase and cancellation of 20,000 restricted shares due to certain employees no longer qualifying as incentive targets [7][8] - The total share capital will decrease from 135,917,400 shares to 135,897,400 shares following the repurchase and cancellation of shares [7] Financial Data - The company reported no need for retrospective adjustments or restatements of previous accounting data [4] - There were no changes in the controlling shareholder or actual controller during the reporting period [5][6] Governance Changes - The board of directors has proposed amendments to the articles of association, including changes to the terminology regarding the shareholders' meeting and the removal of references to the supervisory board [8]

Core Points - The company is undergoing changes to its registered capital and articles of association, which will be submitted for approval to the market supervision administration [1][22][23] - The board of directors has proposed several internal governance system revisions to align with the updated articles of association and relevant regulations [2][26] - The company plans to distribute cash dividends to shareholders as part of its profit distribution plan for the first half of 2025 [13][48] Group 1: Board Meeting Decisions - The third board meeting was held on August 27, 2025, with all nine directors present, meeting the legal requirements for quorum [5] - The board approved the 2025 semi-annual report and its summary, confirming compliance with legal and regulatory standards [7][44] - The board also approved a special report on the management and use of raised funds for the first half of 2025 [10][46] Group 2: Profit Distribution and Stock Incentives - The proposed profit distribution plan includes a cash dividend of RMB 0.74 per 10 shares, totaling approximately RMB 10.06 million [13][14][48] - Adjustments to the repurchase price of restricted stock due to changes in incentive plan participants were approved, with the new price set at RMB 8.186 per share plus interest [18][52] Group 3: Governance Structure Revisions - The company is revising its articles of association to reflect changes in stock incentives and to enhance governance structures [22][26] - Several internal governance rules have been revised and will require shareholder approval, including rules for shareholder meetings and board meetings [27][29][30] Group 4: Upcoming Shareholder Meeting - A temporary shareholder meeting is scheduled for September 15, 2025, to review the board and supervisory committee's proposals [39][40]

Core Viewpoint - 瑞纳智能 reported a revenue of 92.5867 million yuan for the first half of 2025, reflecting a year-on-year growth of 27.20% [1] Financial Performance - The company recorded a net profit attributable to shareholders of -6.9287 million yuan [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -16.6430 million yuan [1] - Basic earnings per share were -0.05 yuan [1] Dividend Distribution - The company plans to distribute a cash dividend of 0.74 yuan (including tax) for every 10 shares to all shareholders [1]

证券代码：301129 证券简称：瑞纳智能 公告编号：2025-049 瑞纳智能设备股份有限公司 2025 年半年度募集资金存放、管理与使用情况的专项报告 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。 根据《深圳证券交易所上市公司自律监管指引第 2 号——创业板上市公司规范 运作》及《深圳证券交易所创业板上市公司自律监管指南第 2 号——公告格式》的 规定，将瑞纳智能设备股份有限公司（以下简称"公司"）2025 年半年度募集资金 存放、管理与使用情况报告如下： 一、募集资金基本情况 （二）募集资金使用及结余情况 截至 2025 年 6 月 30 日，公司募集资金存储账户余额为 22,141,762.40 元。本报 告期内募集资金使用情况如下： 4 | 项目 | | 金额（元） | | --- | --- | --- | | 募集资金账户初始金额 | | 941,110,338.00 | | 减：累计购买理财产品的闲置募集资金净额 | | 380,402,750.00 | | 减：累计补充营运资金 | | 406,900,000.00 | | 减：累计营运资金 ...

| 非经营性资金占 | 资金占用 | 占用方与上市 | 上市公司核算 | 2025 年初占用 | 2025 年半年度占用 | 2025 年半年度 | 2025 年半年度 | 2025 年半年度 | 占用形成 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 用 | 方名称 | 公司的关联关 | 的会计科目 | 资金余额 | 累计发生金额(不 | 占用资金的利 | 偿还累计发生 | 期末占用资金 | 原因 | 占用性质 | | | | 系 | | | 含利息) | 息(如有) | 金额 | 余额 | | | | 控股股东、实际 | | | | | | | | | | | | 控制人及其附属 | | | | | | | | | | | | 企业 | | | | | | | | | | | | 小计 | | | | | | | | | | | | 前控股股东、实 | | | | | | | | | | | | 际控制人及其附 | | | | | | | | | | | | 属企业 | | | | | | | | | | ...