Core Viewpoint - The company, JiaLian Technology (301193.SZ), expects a significant net loss for 2025, with a projected net profit attributable to shareholders ranging from -69 million to -52 million yuan, and a net profit excluding non-recurring gains and losses between -210 million and -160 million yuan [1] Financial Performance - The company anticipates a net profit attributable to shareholders of -69 million to -52 million yuan for 2025 [1] - The expected net profit after excluding non-recurring items is projected to be between -210 million and -160 million yuan [1] Operational Challenges - The company is strategically advancing the synchronous construction and adjustment of multi-site production capacity to optimize its global supply chain in response to a complex international trade environment [1] - New production bases are currently in the capacity construction and rapid ramp-up phase, leading to low overall capacity utilization [1] - High fixed depreciation and operating costs, along with increased manufacturing costs per unit, are attributed to the low capacity utilization [1] Financial Costs - The issuance of convertible bonds has resulted in increased interest expenses, contributing to a year-on-year rise in financial costs as per relevant accounting standards [1]

Group 1 - The core viewpoint of the article is that JiaLian Technology (301193) has announced a significant expected loss for 2025, projecting a net profit attributable to shareholders of between -69 million to -52 million yuan, compared to a profit of 57 million yuan in the same period last year [1] - The company also expects a net profit after deducting non-recurring gains and losses to be between -210 million to -160 million yuan, while the previous year's figure was a profit of 12.53 million yuan [1]

Core Viewpoint - The company anticipates a negative net profit for the fiscal year 2025, projecting a loss between 69 million to 52 million yuan, a significant decline from a profit of 57 million yuan in the same period last year [1] Financial Performance - The expected net profit after deducting non-recurring gains and losses is projected to be between -210 million to -160 million yuan, compared to a profit of 12.53 million yuan in the previous year [1] - Both the net profit attributable to shareholders and the net profit after deducting non-recurring gains and losses are expected to be negative and show a considerable decrease compared to the previous year [1] Operational Challenges - The primary reason for the anticipated losses is the strategic optimization of the global supply chain to address the complex international trade environment, which has led to simultaneous construction and adjustment of production capacities across multiple locations [1] - New production bases are currently in the capacity construction and ramp-up phase, resulting in low overall capacity utilization, which has caused manufacturing and management costs to remain high, leading to a significant increase in unit manufacturing costs [1] Financial Costs - The issuance of convertible bonds has resulted in increased interest expenses, contributing to a rise in financial costs compared to the previous year [1] Impairment Concerns - The company has preliminarily assessed that the goodwill arising from the acquisition of Zhejiang Jiadebao Technology Co., Ltd. and Sumter Easy Home, LLC may be impaired due to their operational performance and development not meeting expectations [1]

Financial Performance - The company expects a net profit of -69 million CNY for 2025, compared to -52 million CNY in the same period last year[4] - The net profit after deducting non-recurring gains and losses is projected to be -210 million CNY, down from -160 million CNY year-on-year[4] - The decline in profitability is primarily due to low capacity utilization rates and high manufacturing costs during the construction phase of new production bases[6] Financial Expenses - The increase in financial expenses is attributed to interest expenses from convertible bonds issued during the reporting period[7] Non-Recurring Gains and Losses - The company anticipates non-recurring gains and losses for 2025 to be in the range of 106 million to 142 million CNY, significantly higher than 44.47 million CNY in 2024[8] Impairment Tests - The company is conducting impairment tests on goodwill related to acquisitions due to underperformance of acquired companies[7] Financial Data Confirmation - The financial data presented is preliminary and subject to final confirmation in the 2025 annual report[9] Strategic Initiatives - The company is strategically advancing multi-site capacity construction to optimize its global supply chain[6]

Group 1 - The core viewpoint of the news is that Jia Lian Technology has shown significant trading activity and financial performance, with a notable increase in financing and a mixed profit outlook [1][2]. Group 2 - On January 22, Jia Lian Technology's stock rose by 2.91%, with a trading volume of 112 million yuan. The financing buy-in amount was 36.32 million yuan, while the financing repayment was 22.00 million yuan, resulting in a net financing buy of 14.31 million yuan [1]. - As of January 22, the total financing and securities balance for Jia Lian Technology was 94.29 million yuan, with the financing balance accounting for 2.04% of the circulating market value, indicating a high level compared to the past year [1]. - The company has a total of 6,828 shareholders as of September 30, which is an increase of 15.61% from the previous period, while the average circulating shares per person decreased by 11.47% [2]. - For the period from January to September 2025, Jia Lian Technology achieved an operating income of 1.865 billion yuan, representing a year-on-year growth of 8.25%. However, the net profit attributable to the parent company was -73.81 million yuan, a decrease of 209.95% year-on-year [2]. - Since its A-share listing, Jia Lian Technology has distributed a total of 98.40 million yuan in dividends, with 74.40 million yuan distributed over the past three years [3]. - As of September 30, 2025, among the top ten circulating shareholders, the "Zhaoshang Balanced Preferred Mixed A" fund is the eighth largest shareholder, holding 2.0816 million shares as a new investor [3].

北京观韬律师事务所（下称"本所"）接受宁波家联科技股份有限公司（下 称"公司"）的委托，指派律师出席公司 2026 年第一次临时股东会（下称"本次 股东会"），并依据《中华人民共和国公司法》（下称"《公司法》"）、《中 华人民共和国证券法》（下称"《证券法》"）、《上市公司股东会规则》等相 关法律、行政法规和规范性文件以及公司现行有效《公司章程》的有关规定，出 具本法律意见书。 为出具本法律意见书，本所律师查询了公司在信息披露媒体上刊登的相关公 告，核查了公司提供的有关本次股东会的文件，听取了公司就有关事实的陈述和 说明，列席了本次股东会。公司已经向本所律师提供了本所律师认为出具本法律 意见书所必需的、真实、准确、完整的原始书面材料、副本材料或者口头证言， 并无任何隐瞒、虚假、误导或重大遗漏之处。 本法律意见书仅供公司为本次股东会之目的而使用，不得被任何人用于任何 其他目的。本所在此同意，公司可以将本法律意见书作为公司本次股东会公告材 料，随同其他信息披露文件一并公告。 北京观韬律师事务所 关于宁波家联科技股份有限公司 2026 年第一次临时股东会的 法律意见书 观意字 2026BJ000140 号 致：宁波 ...

| 证券代码：301193 | 证券简称：家联科技 | 公告编号：2026-004 | | --- | --- | --- | | 债券代码：123236 | 债券简称：家联转债 | | 宁波家联科技股份有限公司 2026 年第一次临时股东会决议公告 2、本次股东会不涉及变更以往股东会已通过的决议。 一、会议召开情况 （一）召集人：宁波家联科技股份有限公司（以下简称"公司"）董事会 （二）会议召开的日期、时间： 1、现场会议召开时间为：2026 年 1 月 16 日(星期五)下午 14:30 2、网络投票时间为：2026 年 1 月 16 日，其中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：2026 年 1 月 16 日 9:15-9:25，9:30-11:30， 13:00-15:00；通过深圳证券交易所互联网投票系统投票的具体时间为：2026 年 1 月 16 日 9:15 至 15:00 期间的任意时间 （三）现场会议召开地点：浙江省宁波市镇海区澥浦镇浦联路 296 号 （四）会议的召开方式：本次股东会采用现场表决与网络投票相结合的方式 召开 本公司及董事会全体成员保证信息披露的内容真实、准确 ...

一、培训主要内容 本次培训的主题为上市公司规范运作、募集资金使用等关注要点，主要结合 《公司法》《证券法》《深圳证券交易所创业板股票上市规则》《上市公司募集资 金监管规则》等相关法律、法规和规范性文件，通过现场演示培训讲义、解读法 规条文及案例分析等形式，讲解了创业板上市公司规范运作、募集资金使用和上 市公司违规案例。 二、培训效果情况 兴业证券股份有限公司 关于宁波家联科技股份有限公司 2025 年持续督导培训情况报告书 为了进一步提高宁波家联科技股份有限公司（以下简称"家联科技"或"公 司"）的规范运作水平，促进公司的健康发展，兴业证券股份有限公司（以下简 称"兴业证券"）特对家联科技进行了关于上市公司规范运作及募集资金使用的 培训。现将培训情况汇报如下： | 培训时间 | 年 | 月 | 日 | 至 | 2026 | 1 | 9 | 10:00 | 11:30 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 培训地点 | 家联科技岚山工厂九楼会议室和腾讯会议 | | | | | | | | | | 培训主题 | 上市公司 ...

兴业证券股份有限公司 （本页以下无正文） 关于宁波家联科技股份有限公司 2025 年度定期现场检查报告 | 保荐人名称：兴业证券股份有限公司 被保荐公司简称：家联科技 | | | | --- | --- | --- | | 保荐代表人姓名：娄众志 联系电话：021-20370631 | | | | 保荐代表人姓名：许东宏 联系电话：021-20370631 | | | | 现场检查人员姓名：娄众志 | | | | 现场检查对应期间：2025 年度 | | | | 现场检查时间：2025 年 12 月 22 日至 29 日 | | | | 一、现场检查事项 现场检查意见 | | | | （一）公司治理 否 | 是 | 不适 | | 现场检查手段：查阅公司章程和公司治理相关制度；查阅三会文件及相关决议；访谈公司董 | | 用 | | 秘及财务总监等。 | | | | 1.公司章程和公司治理制度是否完备、合规 | √ | | | 2.公司章程和股东会、董事会规则是否得到有效执行 | √ | | | 3.股东会、董事会会议记录是否完整，时间、地点、出席人 | √ | | | 员及会议内容等要件是否齐备，会议资料是否保 ...

Investment Rating - The report maintains an "Outperform" rating for the consumer-grade 3D printing industry [1] Core Insights - Technological advancements are driving the growth of the consumer-grade 3D printing industry, which is entering a period of widespread adoption. The global market is expected to exceed $4 billion by 2024, with a compound annual growth rate (CAGR) of 28% from 2020 to 2024. The sales of 3D printers alone are projected to reach $2.1 billion, growing at a CAGR of 21% during the same period [3][15] - The consumer-grade 3D printing market is characterized by intense competition, with Chinese companies dominating the landscape. By 2024, China is expected to account for 45% of global 3D printer exports, with major markets in the US and Europe [3][24] - The report highlights the growth potential of 3D printing consumables, which are expected to reach $1 billion by 2024, with a CAGR of 36% from 2024 to 2029. Chinese companies are gradually capturing market share in this segment [3][45] Summary by Sections 1. Technological Advancements Driving Growth - Continuous improvements in hardware and software are lowering the operational barriers for consumer-grade 3D printing, leading to increased market penetration. The global consumer-grade 3D printing market is projected to reach $4 billion by 2024, with a CAGR of 28% from 2020 to 2024 [3][15] - The number of consumer-grade 3D printers is expected to reach approximately 15.8 million units globally by 2024, indicating a penetration rate of only 1.8% among the 860 million households in the US, Europe, and China, suggesting significant growth potential [3][15] 2. Competitive Landscape - The report identifies a competitive landscape where Chinese companies, such as Chuangxiang Sanwei and Tuozhu, are leading the market. Chuangxiang Sanwei holds a market share of 28% in cumulative shipments from 2020 to 2024, while Tuozhu is expected to lead in 2024 with a 29% market share [3][27] - The competition is primarily driven by product capabilities, with a focus on technological research and development, as well as supply chain efficiency [3][28] 3. Company Profiles - Chuangxiang Sanwei offers a diverse range of products, including 3D printers, consumables, and services, with projected revenues of 2.3 billion yuan in 2024 and a stable gross margin of around 30% [3][35] - Tuozhu Technology focuses on integrating advanced technologies into their 3D printers, enhancing user experience and product performance, which has propelled them to the top of the industry [3][44] 4. Growth of 3D Printing Consumables - The consumables segment is expected to grow significantly, with the market projected to reach $1 billion by 2024, driven by the increasing number of 3D printers in use. The CAGR for this segment is anticipated to be 36% from 2024 to 2029 [3][45] - Chinese companies are gradually increasing their market share in the consumables sector, particularly in upstream resin production and modified plastics [3][45]