Core Viewpoint - The company announced the resignation of its financial officer, Yao Ling, due to personal reasons, and she will no longer hold any position within the company [1] Group 1 - The board of directors received a written resignation report from the financial officer [1] - Yao Ling has applied to resign from her position as the financial officer of the company [1] - Yao Ling will not continue to hold any position within the company after her resignation [1]

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 文/新浪财经上海站 时行工作室 8月25日，苏州欧圣电气股份有限公司（以下简称：欧圣电气）公告披露，财务负责人姚玲因个人原因 申请辞去职务，辞职报告自送达董事会之日起生效。 值得注意的是，公司近期在业绩上保持稳健增长。根据2025年半年报，公司上半年实现营业收入87.85 亿元，同比增长18.89%；归属于母公司股东的净利润为1.15亿元，同比提升18.52%。在主营业务持续扩 张的同时，公司盈利能力和现金流状况呈现改善趋势，为后续的战略布局奠定了基础。 | □是 ☑否 | | | | | --- | --- | --- | --- | | | 本报告期 | 上年同期 | 本报告期比上年同期增减 | | 营业收入(元) | 878, 499, 924, 94 | 738, 929, 933, 59 | 18. 89% | | 归属于上市公司殿索的净利 润(元) | 115, 077, 632, 20 | 97, 099, 213, 19 | 18. 52% | | 归属于上市公司股东的扣除 | | | | | 非经常性描益的净利润 | ...

截至本公告日，姚玲女士未直接或间接持有公司股份，姚玲女士承诺将严格 遵守法律法规关于高级管理人员离任后的相关规定。公司对姚玲女士在任职期间 对公司发展做出的贡献表示衷心感谢。 关于财务负责人辞职的公告 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。 苏州欧圣电气股份有限公司（以下简称"公司"）董事会于近日收到公司财 务负责人姚玲女士的书面辞职报告，姚玲女士因个人原因申请辞去公司财务负责 人职务，也不再继续担任公司任何职务。根据《中华人民共和国公司法》《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》以及《公 司章程》的有关规定，姚玲女士辞职报告自送达董事会之日起生效。 姚玲女士财务负责人的职务原定任期至公司第三届董事会届满，姚玲女士的 辞职不会影响公司生产经营、财务管理等相关工作的正常开展，公司财务部门运 转正常，能按照相关法律法规和公司财务管理制度有效履行职责。公司将尽快按 照《中华人民共和国公司法》《公司章程》等有关规定完成财务负责人的补选工 作。为保证公司财务日常管理、会计核算等相关工作的正常开展，在公司董事会 聘任新的财务负责人 ...

Investment Rating - The report maintains a rating of "Outperform the Market" for the industry [7] Core Insights - The report highlights that Dahon Technology is the leading player in the domestic folding bicycle industry, with a market share of 26.3% in sales volume and 36.5% in sales revenue for 2024, indicating strong brand influence and industry position [2][12] - The folding bicycle market is experiencing rapid growth, with a projected compound annual growth rate (CAGR) of 24% in sales volume and 33% in revenue from 2022 to 2024 for Dahon Technology [2][59] - The global bicycle market is expected to grow steadily, with a retail volume increase from 164.5 million units in 2019 to 178.8 million units in 2024, reflecting a CAGR of 1.7% [13][16] Summary by Sections Industry Overview - The demand for folding bicycles is rapidly increasing, driven by urban commuting needs and the convenience of compact storage [21][22] - The global folding bicycle market is projected to grow from 2.0 million units in 2019 to 3.7 million units in 2024, with a CAGR of 13.4% [22][30] - The market for high-end folding bicycles (priced above 2500 RMB) is expanding, accounting for approximately 44.1% of retail volume and 86.5% of retail revenue in 2024 [30][42] Company Profile: Dahon Technology - Dahon Technology, founded in 1982, has established itself as a leader in the folding bicycle sector, achieving significant growth and brand recognition [2][55] - The company’s revenue for 2024 is projected to reach 4.51 billion RMB, with a net profit of 0.52 billion RMB, both reflecting a year-on-year increase of 50% [2][59] - Dahon's product strategy focuses on the mid to high-end market, with mid-range products accounting for approximately 69.5% of revenue by 2024 [70] Market Dynamics - The domestic market for folding bicycles is highly concentrated, with Dahon Technology holding a dominant position, capturing 60.4% of the market share among the top five companies [49][46] - The report indicates that the Chinese market is the largest single market for folding bicycles, with retail volume expected to grow from 0.3 million units in 2019 to 0.8 million units in 2024, reflecting a CAGR of 19.9% [40][41] - The company is expanding its distribution network, with over 680 retail points across 30 provincial regions in China, while also gradually recovering its overseas market presence [75][76]

Investment Rating - The investment rating for the company is "Outperform the Market" [4][26]. Core Views - The company experienced a revenue decline in Q2 due to tariff impacts, with Q2 revenue at 350 million, down 14.6% year-on-year. However, H1 revenue was 878 million, up 18.9% year-on-year. The net profit for H1 was 115 million, up 18.5% year-on-year, while Q2 net profit was 54 million, down 1.4% year-on-year. The inventory at the end of Q2 was 368 million, a 91% increase year-on-year [1][2]. - The company's profitability improved in Q2, with a gross margin of 38.33%, an increase of 4.99 percentage points, attributed to changes in product and channel structure. The Malaysian factory is ramping up production, with a designed output value of 2 billion, which is expected to stabilize gross margins despite tariff challenges [1][2]. - The company’s subsidiary, Illinois, has a nursing robot project that was selected for a pilot program by the Ministry of Industry and Information Technology and the Ministry of Civil Affairs, which may enhance the company's growth in the elderly care sector [2]. Financial Summary - The company forecasts revenue growth from 1,216 million in 2023 to 3,941 million in 2027, with annual growth rates of -5.3%, 45.0%, 41.0%, 29.6%, and 22.2% respectively. Net profit is expected to grow from 175 million in 2023 to 549 million in 2027, with growth rates of 8.4%, 44.9%, 29.7%, 31.5%, and 27.1% respectively [3][24]. - The projected earnings per share (EPS) are expected to increase from 0.96 in 2023 to 2.15 in 2027, with corresponding price-to-earnings (PE) ratios of 33.8, 23.3, 25.2, 19.2, and 15.1 [3][24].

Investment Rating - The investment rating for the company is "Outperform the Market" [4][26]. Core Views - The company experienced a revenue decline in Q2 due to tariff impacts, but it is expected to return to growth once the tariff policies stabilize. The revenue for H1 2025 was 878 million, up 18.9% year-on-year, while Q2 revenue was 350 million, down 14.6% year-on-year [1][2]. - The company's profitability improved in Q2, with a gross margin of 38.33%, an increase of 4.99 percentage points, attributed to changes in product and channel structure [1][2]. - The company’s subsidiary has been selected for a pilot project by the Ministry of Industry and Information Technology and the Ministry of Civil Affairs, focusing on a nursing robot for the elderly, which is expected to enhance the company's growth in the elderly care sector [2]. Financial Summary - The company forecasts a net profit of 329 million for 2025, representing a year-on-year growth of 29.7%, with projected profits of 432 million in 2026 and 549 million in 2027 [3][24]. - The revenue projections for the company are 2.488 billion in 2025, 3.226 billion in 2026, and 3.941 billion in 2027, with growth rates of 41.0%, 29.6%, and 22.2% respectively [3][24]. - The company maintains a strong financial position with a projected return on equity (ROE) of 21.1% in 2025, increasing to 32.2% by 2027 [3][24].

（以下无正文） | 中泰证券股份有限公司 | | | | --- | --- | --- | | 关于苏州欧圣电气股份有限公司 | | | | 保荐机构名称：中泰证券股份有限公司 | | 被保荐公司简称：欧圣电气 | | 保荐代表人姓名：周扣山 | | 联系电话：025-85540518 | | 保荐代表人姓名：孙晓刚 | | 联系电话：010-59013883 | | 一、保荐工作概述 | | | | 项目 工作内容 | | | | （1）是否及时审阅公司信息披露文件 | 是 | | | （2）未及时审阅公司信息披露文件的次数 | 0次 | | | （1）是否督导公司建立健全规章制度（包括但不限于 | | | | 防止关联方占用公司资源的制度、募集资金管理制度、 | | 是 | | 内控制度、内部审计制度、关联交易制度） | | | | （2）公司是否有效执行相关规章制度 | 是 | | | （1）查询公司募集资金专户次数 6次 | | | | （2）公司募集资金项目进展是否与信息披露文件一致 | | 是 | | （1）列席公司股东大会次数 4次 | | | | （2）列席公司董事会次数 6次 | | | ...

南方新优享灵活配置混合A基金经理为章晖。 简历显示，章晖先生:北京大学西方经济学硕士,具有基金从业资格、金融分析师(CFA)资格,2009年7月加入南方基金,担任研究部研究员、高级研究员;2014年2 月27日至2015年5月28日,任南方新优享基金经理助理;2015年5月28日至今,任南方新优享基金经理;2015年6月19日至今,任南方创新经济基金经理;2018年4月19 日至今,任南方成安优选混合基金经理;2019年12月19日至今,任南方ESG股票基金经理;2020年6月16日至今,兼任投资经理;曾任南方阿尔法混合基金基金经理。 | ○ 基金经理 : 章晖 | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 累计任职时间：10年又88天 任职起始日期：2015-05-28 现任基金公司：南方基金管理股份有限公司 现任基金资产 在管基金最佳 总规模 65.61亿元 81.52% | 任期回报 | | 基金经理简介：章晖先生:北京大学西方经济学硕士,具有基金从业资格、金融分析师(CFA)资 格,2009年 ...

中泰证券股份有限公司 关于苏州欧圣电气股份有限公司 2025年半年度持续督导跟踪报告 | 保荐机构名称：中泰证券股份有限公司 | 被保荐公司简称：欧圣电气 | | --- | --- | | 保荐代表人姓名：周扣山 | 联系电话：025-85540518 | | 保荐代表人姓名：孙晓刚 | 联系电话：010-59013883 | 二、保荐机构发现公司存在的问题及采取的措施 | 事项 | 存在的问题 | 采取的措施 | | --- | --- | --- | | 1、信息披露 | 无 | 不适用 | | 2、公司内部制度的建立和执行 | 无 | 不适用 | | 3、"三会"运作 | 无 | 不适用 | | 4、控股股东及实际控制人变动 | 无 | 不适用 | | 5、募集资金存放及使用 | 无 | 不适用 | | 6、关联交易 | 无 | 不适用 | | 7、对外担保 | 无 | 不适用 | | 8、收购、出售资产 | 无 | 不适用 | | 9、其他业务类别重要事项（包括对外投资、风险投资、委 托理财、财务资助、套期保值等） | 无 | 不适用 | | 10、发行人或者其聘请的中介机构配合保荐工作的情况 | ...

Core Insights - The company reported a revenue of 880 million yuan for H1 2025, representing a year-on-year growth of 18.9% [1] - The net profit attributable to shareholders reached 120 million yuan, also up by 18.5% year-on-year [1] - The company experienced a revenue decline of 14.6% in Q2 2025, amounting to 350 million yuan, due to short-term tariff fluctuations [1] Revenue and Profitability - The company achieved a gross margin of 34.4% in H1 2025, a decrease of approximately 1.7 percentage points, primarily due to the increased revenue share from lower-margin new products [2] - In Q2 2025, the gross margin improved by 5 percentage points to 38.3%, driven by a higher proportion of high-margin vacuum cleaners and the acquisition of the German company Producteers [2] - The net profit margin remained stable at 13.1% in H1 2025, consistent with the previous year, aided by effective cost control and foreign exchange gains [2] Business Expansion and Product Development - The company is expanding its product categories, with new products like snow throwers and inflators entering the growth phase, supporting overall company growth [1] - The company is enhancing its global footprint by consolidating its North American market while accelerating expansion into European and Latin American markets, expecting rapid revenue growth from non-American regions [1] - The company has established a significant presence in the Malaysian market, which helps mitigate tariff risks and offers a cost advantage over competitors in Vietnam and Thailand [2] Strategic Partnerships and Innovations - The company has deepened collaborations with leading North American retailers, solidifying its market share in core categories like air compressors and vacuum cleaners [3] - The acquisition of the German company Producteers has enabled the company to quickly penetrate the European professional and industrial vacuum cleaner market, gaining access to high-quality customer resources [3] - The company is focusing on the aging population market by developing intelligent nursing robots, which have entered a government-supported project list, indicating a strong order backlog and potential for future growth [3] Earnings Forecast - The company’s EPS is projected to be 1.29 yuan, 1.66 yuan, and 2.20 yuan for the years 2025 to 2027, maintaining a "hold" rating [4]