Company Overview - Shanghai Yutian Guanjia Technology Co., Ltd. is located in Qingpu Industrial Park, Shanghai, and was established on December 3, 2004. The company specializes in manufacturing automotive sunroofs and other automotive motion components, providing comprehensive solutions to both domestic and international automotive manufacturers operating in China, as well as some overseas vehicle manufacturers [2]. Financial Performance - For the first half of 2025, the company achieved operating revenue of 958 million yuan, a year-on-year decrease of 11.30%. The net profit attributable to the parent company was 59.21 million yuan, down 25.65% year-on-year [2]. - As of June 30, 2025, the company had a total of 15,200 shareholders, an increase of 7.36% from the previous period. The average circulating shares per person were 1,110 shares, a decrease of 6.85% [2]. Financing and Trading Activity - On September 8, the company's stock price fell by 0.04%, with a trading volume of 61.6184 million yuan. The financing buy-in amount for that day was 7.5465 million yuan, while the financing repayment was 6.3708 million yuan, resulting in a net financing buy-in of 1.1758 million yuan. The total financing and securities balance as of September 8 was 62.1003 million yuan [1][2]. - The current financing balance of 62.1003 million yuan accounts for 6.89% of the company's market capitalization [2]. Dividend Distribution - The company has cumulatively distributed dividends amounting to 20.0263 million yuan since its A-share listing [3]. Shareholder Composition - As of June 30, 2025, the largest circulating shareholder was Hong Kong Central Clearing Limited, holding 272,300 shares as a new shareholder [3].

Market Overview - As of September 4, the Shanghai Composite Index closed at 3765.88 points, with a decline of 1.25%. The Shenzhen Component Index closed at 12118.70 points, down 2.83%, and the ChiNext Index closed at 2776.25 points, decreasing by 4.25% [1] Trading Activity - A total of 2131 stocks saw an increase in average transaction volume, with 40 stocks experiencing a rise of over 50% in average transaction volume. Conversely, 2426 stocks reported a decrease in average transaction volume [1] - Notable stocks with significant increases in average transaction volume include Aishida (爱仕达) with a 207.02% increase, Huijia Times (汇嘉时代) with 184.35%, and Victory Precision (胜利精密) with 158.81% [1] Active Stocks - The stocks with the highest increase in transaction volume and transaction count include: - Spring兴精工 with a transaction count increase of 2190.85% - Hanzhong Precision (汉钟精机) with a transaction count increase of 827.07% - Lushan New Materials (鹿山新材) with a transaction count increase of 476.62% [1] Notable Performers - The following stocks showed significant daily gains: - Aishida (爱仕达) increased by 10.03% - Huijia Times (汇嘉时代) rose by 10.05% - Victory Precision (胜利精密) gained 10.09% [1] - Other notable performers include: - Strait Environmental (海峡环保) with a 10.08% increase - An彩高科 with a 9.92% increase [1] Additional Trading Insights - The average transaction volume and transaction count for several stocks also showed substantial increases, indicating heightened trading activity. For example, Tianchuang Fashion (天创时尚) had a transaction count increase of 204.19% [1][2]

Core Points - The company Yutian Guanjia announced the release of restrictions on its first public offering of shares, allowing for the circulation of previously restricted shares [2] - A total of 5,751 shareholders will have their restricted shares released, amounting to 896,285 shares, which represents 1.0204% of the company's total share capital [2] - The restricted shares will be available for trading starting from September 4, 2025, following a six-month lock-up period since the company's initial public offering [2]

Group 1 - The company, Shanghai Yutian Guanjia Technology Co., Ltd., has completed its initial public offering (IPO) by issuing 21,958,700 shares, which will be listed on the Shenzhen Stock Exchange on March 3, 2025 [1][2] - After the IPO, the total share capital of the company increased from 65,876,072 shares to 87,834,772 shares, with 80.8027% of the shares subject to trading restrictions [1][2] - The restricted shares amount to 896,285 shares, which represent 1.0204% of the total share capital and will be released from restrictions on September 4, 2025 [2][3] Group 2 - The company has confirmed that there have been no changes in the number of shares due to events such as share issuance, buybacks, or capital increases since the IPO [2] - The shareholders holding the restricted shares have adhered to the commitment of a 10% lock-up period for six months following the IPO, with no violations reported [2][3] - The structure of the share capital will change post the release of the restricted shares, with the number of unrestricted shares increasing to 17,758,208, representing 20.2177% of the total share capital [4][5] Group 3 - The sponsor has verified that the application for the release of restricted shares complies with relevant regulations and that the shareholders have fulfilled their commitments made during the IPO [4][5] - The company has ensured that the information disclosed regarding the release of restricted shares is accurate and complete [5]

上海毓恬冠佳科技股份有限公司 关于首次公开发行网下配售限售股份上市流通的提示性公告 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。 特别提示： 1、本次上市流通的限售股份为上海毓恬冠佳科技股份有限公司（以下简称 "公司"、"发行人"）首次公开发行网下发行限售股份。 2、本次上市流通的限售股东户数共计 5,751 户，解除限售的股份数量合计 为 89.6285 万股，占公司总股本的 1.0204%，限售期为自公司股票首次公开发行 并在深圳证券交易所上市之日起 6 个月。 证券代码：301173 证券简称：毓恬冠佳 公告编号：2025-038 经中国证券监督管理委员会《关于同意上海毓恬冠佳科技股份有限公司首次 公开发行股票注册的批复》（证监许可〔2024〕1581 号）同意注册，公司公开发 行 2,195.8700 万股新股，并于 2025 年 3 月 3 日在深圳证券交易所创业板上市。 首次公开发行前公司总股本为 6,587.6072 万股，首次公开发行股票后，公司总 股本为 8,783.4772 万股，其中有流通限制或限售安排的股份数量为 7,097.2849 ...

国泰海通证券股份有限公司 关于上海毓恬冠佳科技股份有限公司 首次公开发行网下配售限售股份上市流通的核查意见 国泰海通证券股份有限公司（以下简称"国泰海通"或"保荐人"）作为上 海毓恬冠佳科技股份有限公司（以下简称"毓恬冠佳"或"公司"）首次公开发 行股票并在创业板上市的保荐人，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》等法律法规和规范性文件的要求，对毓恬冠 佳的首次公开发行网下配售限售股份上市流通事项进行了核查，具体核查情况及 意见如下： 一、首次公开发行股份概况 经中国证券监督管理委员会《关于同意上海毓恬冠佳科技股份有限公司首次 公开发行股票注册的批复》（证监许可〔2024〕1581 号）同意注册，公司公开发 行 2,195.8700 万股新股，并于 2025 年 3 月 3 日在深圳证券交易所创业板上市。 首次公开发行前公司总股本为 6,587.6072 万股，首次公开发行股票后，公司总 股本为 8,783.4772 万股，其中有流通限制或限售安排的股份数量为 7,097.2849 万股，占发行后总股 ...

Core Viewpoint - The company Yutian Guanjia experienced a decline in stock price and trading volume on August 28, with a notable net financing inflow despite the drop in revenue and profit for the first half of 2025 [1][2]. Financing Summary - On August 28, Yutian Guanjia had a financing buy amount of 16.48 million yuan, with a total financing balance of 59.55 million yuan, accounting for 6.84% of its market capitalization [2]. - The company had a net financing inflow of 1.56 million yuan after a financing repayment of 14.92 million yuan [1]. Company Overview - Yutian Guanjia, established on December 3, 2004, is located in the Qingpu Industrial Park of Shanghai and specializes in manufacturing automotive sunroofs and other automotive components [2]. - The company provides comprehensive solutions for automotive sunroofs and other components to both domestic and international automobile manufacturers [2]. Financial Performance - For the first half of 2025, Yutian Guanjia reported a revenue of 958 million yuan, a year-on-year decrease of 11.30%, and a net profit attributable to shareholders of 59.21 million yuan, down 25.65% year-on-year [2]. Shareholder Information - As of June 30, 2025, the number of shareholders for Yutian Guanjia increased by 7.36% to 15,200, while the average circulating shares per person decreased by 6.85% to 1,110 shares [2]. - The largest circulating shareholder is Hong Kong Central Clearing Limited, holding 272,300 shares as a new shareholder [3].

Core Insights - The company reported a total revenue of 958 million yuan for the first half of 2025, a decrease of 11.3% year-on-year, and a net profit attributable to shareholders of 59.21 million yuan, down 25.65% year-on-year [1] - The second quarter showed a total revenue of 485 million yuan, a decline of 13.57% year-on-year, but a net profit of 39.01 million yuan, which increased by 36.46% compared to the previous year [1] - The accounts receivable level is notably high, with accounts receivable accounting for 277.2% of the net profit attributable to shareholders [4] Financial Performance - Total revenue for 2024 was 1.08 billion yuan, while for 2025 it was 958 million yuan, reflecting an 11.3% decrease [1] - Net profit attributable to shareholders decreased from 79.65 million yuan in 2024 to 59.21 million yuan in 2025, a decline of 25.65% [1] - The gross profit margin was 16.78%, a slight decrease of 0.09% year-on-year, while the net profit margin fell by 16.91% to 6.12% [1] - Total expenses (selling, administrative, and financial) amounted to 60.30 million yuan, representing 6.3% of revenue, an increase of 34.46% year-on-year [1] Cash Flow and Assets - Cash and cash equivalents increased significantly from 260 million yuan in 2024 to 499 million yuan in 2025, a growth of 91.89% [1] - Accounts receivable slightly decreased from 474 million yuan to 473 million yuan, a decline of 0.21% [1] - Interest-bearing liabilities dropped significantly from 138 million yuan to 22.90 million yuan, a decrease of 83.45% [1] Shareholder Metrics - Earnings per share fell from 1.21 yuan in 2024 to 0.74 yuan in 2025, a decrease of 39.17% [1] - The net asset value per share increased from 10.98 yuan to 16.08 yuan, a rise of 46.46% [1] - Operating cash flow per share decreased from 1.46 yuan to 1.37 yuan, a decline of 6.04% [1] Investment Returns - The company's return on invested capital (ROIC) was 18.54%, indicating strong capital returns, although the net profit margin was relatively low at 7.11% [3] - Historical data shows that the median ROIC since the company went public is 18.54%, with the worst year being 2021 at 9.25% [3]

Core Insights - The company reported a revenue of 958 million yuan and a net profit attributable to shareholders of 59.21 million yuan for the first half of 2025 [1] - The company emphasizes "technology-driven development" and has approximately 160 R&D personnel, with R&D investment amounting to 28.94 million yuan in the first half of 2025 [1] - The company is innovating its product line by enhancing existing automotive sunroof products and addressing industry technical pain points with new offerings such as negative ion curtain fabric and ultra-thin sunshades [1] - The company has established a new product development route based on its technical reserves in automotive sports components, including the mass production of electric rear wings, which have received positive industry feedback [1] - To expand its market share, the company is actively engaging new clients, including well-known automotive brands such as Xiaomi, Xpeng, Renault, BMW, and Mercedes-Benz [1] Company Overview - The company specializes in automotive sunroofs and has integrated capabilities in design, R&D, and production, serving both domestic and international automotive manufacturers [2] - Major clients include prominent domestic automotive manufacturers such as Changan Automobile, FAW Group, Geely, GAC Group, SAIC Volkswagen, Great Wall Motors, and Chery Automobile [2]

Core Viewpoint - The company, Yutian Guanjia, experienced a decline in stock price and financial performance, with significant changes in financing activities and shareholder structure [1][2]. Group 1: Financial Performance - As of June 30, 2025, Yutian Guanjia reported a revenue of 958 million yuan, representing a year-on-year decrease of 11.30% [2]. - The net profit attributable to shareholders for the same period was 59.21 million yuan, down 25.65% year-on-year [2]. Group 2: Financing Activities - On August 27, 2025, the company saw a financing buy-in amount of 9.35 million yuan, while the financing repayment was 11.93 million yuan, resulting in a net financing outflow of 2.58 million yuan [1]. - The total financing and securities balance as of August 27, 2025, was 57.99 million yuan, accounting for 6.49% of the circulating market value [1]. Group 3: Shareholder Structure - As of June 30, 2025, the number of shareholders increased to 15,200, a rise of 7.36% compared to the previous period [2]. - The average number of circulating shares per shareholder decreased by 6.85% to 1,110 shares [2]. - The largest circulating shareholder is Hong Kong Central Clearing Limited, holding 272,300 shares as a new shareholder [3].