Group 1 - The company Xianglou New Materials (301160) announced that its director and deputy general manager Zhang Xiao plans to reduce his holdings by no more than 230,000 shares from July 11, 2025, to October 10, 2025 [1] - The planned reduction represents 0.30% of the company's total share capital after excluding shares held in the repurchase special securities account [1] - The reduction will not exceed 25% of Zhang Xiao's total shareholding in the company [1]

证券代码：301160 证券简称：翔楼新材 公告编号：2025-025 苏州翔楼新材料股份有限公司 关于公司董事、高级管理人员减持股份 预披露的公告 公司董事、副总经理张骁先生保证向本公司提供的信息内容真实、准确、完 整，没有虚假记载、误导性陈述或重大遗漏。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一致。 特别提示： 1、持有苏州翔楼新材料股份有限公司（以下简称"公司"或"发行人"） 股份 949,500 股（占剔除回购专用证券账户中的股份数量后公司股本的 1.23%） 的股东、董事、副总经理张骁先生计划自本公告披露之日起十五个交易日后的三 个月内（即 2025 年 7 月 11 日至 2025 年 10 月 10 日）通过集中竞价交易方式减 持公司股份不超过 230,000 股（占剔除回购专用证券账户中的股份数量后公司股 本的 0.30%，未超过其所持有公司股份总数的 25%）。 2、股份来源：公司首次公开发行前已发行的股份及股权激励获授的股份； 3、减持方式、数量、比例及期间： 张骁先生计划自本公告披露之日起十五个交易日后的三个月内（即 2025 年 7 月 11 日至 2025 年 ...

Investment Rating - The report maintains a "Buy" recommendation for several steel companies, including Baosteel, Hualing Steel, and Nanjing Steel, among others [3][4]. Core Insights - The rebound in coking coal prices is noteworthy, with a focus on the resilience of demand during the off-season. The report indicates that domestic steel demand is gradually entering a seasonal decline, while external demand remains uncertain due to tariff adjustments by the U.S. government [3][4]. - The report highlights that the profitability of long-process steel production has increased, with specific profit margins for rebar, hot-rolled, and cold-rolled steel showing positive changes compared to the previous week [2][3]. - The overall steel production has decreased, with a total output of 8.8 million tons for major steel varieties, reflecting a slight decline from the previous week [2][3]. Summary by Sections Price Trends - As of June 6, 2025, steel prices in Shanghai showed mixed trends, with rebar prices at 3,140 CNY/ton (up 10 CNY), hot-rolled steel at 3,260 CNY/ton (up 60 CNY), and cold-rolled steel remaining stable at 3,580 CNY/ton [1][10]. Production and Inventory - The total production of major steel varieties was 8.8 million tons, with a week-on-week decrease of 0.47 million tons. Rebar production specifically decreased by 70,500 tons to 2,184,600 tons [2][3]. - Total social inventory of major steel varieties decreased by 16,100 tons to 9,298,600 tons, with rebar inventory dropping by 89,700 tons [2][3]. Investment Recommendations - The report recommends focusing on the following companies: 1. Baosteel, Hualing Steel, Nanjing Steel in the general steel sector 2. CITIC Special Steel, Yongjin Co., and Xianglou New Materials in the special steel sector 3. Jiuli Special Materials, Wujin Stainless Steel, and Youfa Group in the pipe materials sector [3][4].

华泰联合证券有限责任公司 关于苏州翔楼新材料股份有限公司 首次公开发行前已发行股份上市流通的核查意见 华泰联合证券有限责任公司（以下简称"华泰联合证券"）作为苏州翔楼新 材料股份有限公司（以下简称"翔楼新材"或"公司"）首次公开发行股票并在 创业板上市持续督导阶段的保荐机构，根据《证券发行上市保荐业务管理办法》 《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监管指 引第 2 号——创业板上市公司规范运作》等有关规定，对翔楼新材首次公开发行 前已发行股份上市流通事项进行审慎核查，具体核查情况如下： 一、首次公开发行股份概况 根据中国证券监督管理委员会《关于同意苏州翔楼新材料股份有限公司首次 公开发行股票注册的批复》（证监许可〔2022〕651 号），苏州翔楼新材料股份有 限公司（以下简称"公司"）首次公开发行人民币普通股（A 股）股票 18,666,667 股，并于 2022 年 6 月 6 日在深圳证券交易所创业板上市。首次公开发行股票完 成后公司总股本为 74,666,667 股，其中有流通限制或限售安排的股份数量为 56,962,818 股，占发行后总股本的比例为 76.29%；无流通限 ...

证券代码：301160 证券简称：翔楼新材 公告编号：2025-024 苏州翔楼新材料股份有限公司 关于首次公开发行前已发行股份上市流通提示性公告 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。 特别提示： 1、本次解除限售股份数量为 25,560,000 股，占公司总股本的 31.5348%。解 除限售的股东户数为 5 户，限售期为自公司股票上市之日起 36 个月； 2、本次解除限售股份上市流通日为 2025 年 6 月 6 日（星期五）。 一、首次公开发行股份概况 根据中国证券监督管理委员会《关于同意苏州翔楼新材料股份有限公司首次 公开发行股票注册的批复》（证监许可〔2022〕651 号），苏州翔楼新材料股份 有限公司（以下简称"公司"）首次公开发行人民币普通股（A 股）股票 18,666,667 股，并于 2022 年 6 月 6 日在深圳证券交易所创业板上市。首次公开发行股票完 成后公司总股本为 74,666,667 股，其中有流通限制或限售安排的股份数量为 56,962,818 股，占发行后总股本的比例为 76.29%；无流通限制及限售安排的股 份数 ...

Investment Rating - The report assigns a "Buy" rating for the company with a target price of 105.7 CNY, based on a 35X PE for 2025 [5][48]. Core Insights - The company has been deeply engaged in the precision stamping special steel materials sector for twenty years and is now venturing into the humanoid robot field, applying its materials innovatively in harmonic and planetary gear reducers [1][12]. - The domestic automotive market shows strong demand for precision stamping materials, with opportunities for domestic substitution as the country still relies on imports for high-end materials [2][28]. - The company has developed significant core technologies in precision cold rolling and heat treatment, allowing it to compete effectively with international giants like Wills, offering products at 30%-50% lower prices than foreign competitors [2][32]. Summary by Sections Company Overview - The company specializes in customized precision stamping special steel materials, primarily used in various automotive components, and plans to expand into the robot sector by 2024 [1][12]. - The company has a stable shareholding structure, with the chairman holding 30.16% of the shares, which is favorable for long-term development [14]. Main Business - The demand for precision stamping materials in the automotive sector is robust, with a current market demand of approximately 1 million tons per year in China [2][28]. - The company has maintained a strong focus on independent research and development, achieving performance levels close to international competitors [2][32]. - The new plant in Anhui is expected to add 150,000 tons of capacity, expanding the company's total capacity to 300,000 tons [2][34]. Robotics Sector - The company is innovatively applying precision stamping technology to the harmonic reducer flexible wheel material, which is crucial for reducing costs and improving efficiency in humanoid robot production [3][38]. - The flexible wheel's quality is critical for the fatigue life of harmonic reducers, which are essential components in humanoid robots [38]. Financial Projections - Revenue is projected to reach 1.78 billion CNY in 2025, with a year-over-year growth of 20%, and net profit is expected to be 245 million CNY, growing by 18.45% [4][45]. - The company anticipates a steady increase in revenue and profit margins as it expands into high-end markets [4][45]. Valuation - The report compares the company with peers like Siling Co., Longsheng Technology, and Keda Li, with an average valuation of 41X for 2025, leading to a target PE of 35X for the company [48][49].

Core Viewpoint - The company is expanding into the humanoid robot sector while continuing to focus on the high-end precision stamping steel materials market, which has significant growth potential due to increasing domestic automotive demand and opportunities for domestic substitution of imported materials [1][2]. Group 1: Company Overview - The company has been engaged in the research, production, and sales of customized precision stamping special steel materials for 20 years, primarily serving the automotive industry [1]. - The company plans to enter the robot sector in 2024, applying its precision stamping materials to components such as harmonic reducers and planetary reducers [1]. Group 2: Market Potential - The demand for precision stamping special steel in China is approximately 1 million tons per year, with a promising market outlook as the automotive manufacturing industry develops [1][2]. - There is still a significant reliance on imports for high-end precision stamping materials in China, presenting opportunities for domestic substitution [2]. Group 3: Competitive Advantage - The company has developed several core technologies in precision cold rolling and heat treatment, allowing its products to approach the performance of international leaders while offering prices 30%-50% lower than foreign competitors [2]. - The construction of a new plant in Anhui is expected to expand the company's capacity by 150,000 tons, targeting high-value markets such as high-end bearings and robotics [2]. Group 4: Financial Projections - The company is projected to achieve revenues of 1.78 billion, 2.09 billion, and 2.46 billion yuan in 2025, 2026, and 2027, respectively, with year-over-year growth rates of 20%, 17%, and 18% [3]. - Expected net profits for the same years are 250 million, 300 million, and 370 million yuan, with year-over-year growth rates of 18%, 22%, and 23% [3]. Group 5: Investment Recommendation - Based on comparable companies, the company is assigned a target price of 105.7 yuan with a 35X PE for 2025, indicating a "buy" rating [3].

Investment Rating - The report assigns a "Buy" rating for the company with a target price of 105.7 CNY, based on a 35X PE for 2025 [5][48]. Core Insights - The company has been deeply engaged in the precision stamping special steel materials sector for twenty years and is now venturing into the humanoid robot field, applying its materials innovatively in harmonic and planetary gear reducers [1][12]. - The domestic automotive market shows strong demand for precision stamping materials, with a significant opportunity for domestic substitution as the country still relies on imports for high-end materials [2][28]. - The company has developed core technologies in precision cold rolling and heat treatment, allowing it to produce materials that are competitive with international giants while offering lower prices [2][32]. Summary by Sections Company Overview - The company specializes in customized precision stamping special steel materials, primarily used in various automotive components, and plans to expand into the robotics sector in 2024 [1][12]. - The ownership structure is stable, with the chairman holding 30.16% of the shares, which is favorable for long-term development [14]. Main Business - The company is a leader in the domestic precision stamping materials market, with a focus on high-end product substitution [2][28]. - The automotive sector accounts for over 75% of the demand for precision stamping materials, with a current market demand of approximately 1 million tons per year [28][29]. - The company has a production capacity of 180,000 tons, with plans to expand by an additional 150,000 tons through a new plant in Anhui [2][34]. Robotics Sector - The company is innovatively applying precision stamping technology to the production of harmonic reducer flexible wheels, which are critical components in humanoid robots [3][38]. - This new application is expected to enhance production efficiency and reduce costs, opening a second growth curve for the company [3][44]. Financial Projections - Revenue is projected to reach 1.78 billion CNY in 2025, with a year-over-year growth of 20%, and net profit is expected to be 245 million CNY, growing by 18.45% [4][45]. - The company’s EBITDA is forecasted to be 309.24 million CNY in 2025, with a steady increase in profit margins as it moves into higher-end markets [4][46]. Valuation - The report compares the company with peers and sets a target valuation based on a 35X PE for 2025, reflecting a favorable market position and growth potential [48][49].

为出具本法律意见书，本所律师审查了公司提供的以下文件，包括但不限于： 限公司章程》（以下简称《公司章程》）； 报》《证券日报》、巨潮资讯网及深圳证券交易所网站的《苏州翔楼新材料股份 有限公司第三届董事会第二十五次会议决议公告》； 北京市金杜（南京）律师事务所 关于苏州翔楼新材料股份有限公司 之法律意见书 致：苏州翔楼新材料股份有限公司 北京市金杜（南京）律师事务所（以下简称本所）接受苏州翔楼新材料股份 有限公司（以下简称公司）的委托，根据《中华人民共和国证券法》（以下简称 《证券法》）、《中华人民共和国公司法》（以下简称《公司法》）、《上市公司股东 会规则（2025 年修订）》 （以下简称《股东会规则》）等中华人民共和国境内（以 下简称中国境内，为本法律意见书之目的，不包括中国香港特别行政区、中国澳 门特别行政区和中国台湾地区）现行有效的法律、行政法规、规章及规范性文件 和现行有效的公司章程有关规定，指派律师出席了公司于 2025 年 5 月 28 日召 开的 2024 年年度股东大会（以下简称本次股东大会），并就本次股东大会相关 事项出具本法律意见书。 报》《证券日报》、巨潮资讯网及深圳证券交易所网站的《苏 ...

Meeting Details - The shareholder meeting of Suzhou Xianglou New Materials Co., Ltd. was held on May 28, 2025, at 14:00 [1] - Voting was conducted both on-site and via the Shenzhen Stock Exchange's online voting system [1] - The total number of shares with voting rights was 30,444,862, representing 39.3729% of the company's total voting shares [1] Attendance and Voting Results - A total of 69 shareholders participated, representing 30,444,862 shares [1] - Among them, 13 shareholders voted on-site, representing 30,253,162 shares, while 56 shareholders voted online, representing 191,700 shares [1] - Small shareholders accounted for 1,400,900 shares, or 1.8117% of the total voting shares [2] Resolutions Passed - The meeting approved several ordinary resolutions with significant support from shareholders [2][3][4] - The voting results showed that 30,425,362 shares were in favor of one resolution, accounting for a majority of the votes cast [5] - Small shareholders voted overwhelmingly in favor, with 98.6080% supporting one of the resolutions [5] Legal Compliance - The meeting's procedures were confirmed to comply with relevant laws and regulations, including the Company Law and Securities Law [8] - The qualifications of attendees and the convenor were deemed valid, ensuring the legality of the voting process and results [8]