Group 1 - The electronic paper concept index rose by 0.10%, ranking 8th among concept sectors, with notable gainers including Shenkeda, Zhangyue Technology, and Hanshuo Technology, which increased by 15.32%, 5.24%, and 5.00% respectively [1] - The electronic paper sector saw a net inflow of 0.33 billion yuan from main funds, with Zhangyue Technology leading the inflow at 2.29 billion yuan, followed by Hanshuo Technology, Qingyue Technology, and BOE A [2][3] - The net inflow ratios for leading companies in the electronic paper sector were 28.94% for Zhangyue Technology, 9.80% for Hanshuo Technology, and 7.06% for Qingyue Technology [3] Group 2 - The electronic paper sector had 8 stocks rising, while the top decliners included Sichuang Medical, Feikai Materials, and Haimu Star, which fell by 6.46%, 4.79%, and 4.34% respectively [1][4] - The trading volume and turnover rates varied among companies, with Shenkeda showing a significant turnover rate of 13.10% despite its price increase [4] - The overall market performance of the electronic paper sector reflects a mixed sentiment, with some stocks experiencing substantial gains while others faced declines [2][4]

Group 1: Company Overview - Hanshuo Technology focuses on IoT wireless communication technology, primarily serving the retail industry's digital transformation [6] - The company has developed a high-density, low-power cellular wireless communication protocol, enhancing applications in smart retail, smart office, and intelligent manufacturing [6] Group 2: Financial Performance - In 2024, the company achieved a revenue of 18.84 billion yuan, a year-on-year increase of 44.86% [6] - The net profit attributable to shareholders was 7.10 billion yuan, up 4.81% year-on-year [6] - For Q1 2025, revenue reached 9.81 billion yuan, a growth of 0.74% [6] - The net profit after deducting non-recurring gains was 1.65 billion yuan, increasing by 7.14% [6] - Operating cash flow net amount was 938.3 million yuan, a significant rise of 590.64% [6] Group 3: Market Position and Strategy - Over 90% of the company's business is export-oriented, with major markets in Europe, the USA, Japan, and Australia [6] - The company maintains a gross margin above 30% for 2023, 2024, and Q1 2025, although quarterly fluctuations occur due to exchange rate volatility [7] - The global electronic price tag market is projected to reach approximately 35 billion yuan by 2028, with an annual growth rate exceeding 10% [9] Group 4: Product Development and Innovation - The company is focused on enhancing store operational efficiency and improving consumer shopping experiences through various solutions, including smart shopping carts and AI applications [12][14] - Future product upgrades are expected to follow a 2-3 year cycle, focusing on improvements in color, size, thickness, and power consumption [13] - The company is exploring new digital energy solutions, responding to the demand for ESG and green energy from large retail clients [16] Group 5: Market Expansion and Customer Base - The company holds a 60% market share in China, with plans to expand its presence in regions like Singapore, Malaysia, and Poland [15] - The SaaS services are primarily targeted at large overseas clients, with service fees based on store size and commercial negotiations [16]

Core Viewpoint - Hanshuo Technology Co., Ltd. reported steady growth in its 2024 annual performance, with significant increases in revenue, net profit, and operating cash flow, indicating a robust business trajectory since its market debut [1] Financial Performance - The company achieved an operating revenue of 4.486 billion yuan, representing a year-on-year increase of 18.84% [1] - The net profit attributable to shareholders was 710 million yuan, up 4.81% year-on-year [1] - Operating cash flow net amount reached 1.032 billion yuan, marking a substantial increase of 62.29% [1] - Total assets at the end of 2024 amounted to 5.179 billion yuan, reflecting a growth of 36.99% year-on-year [1] Business Model and Product Development - Hanshuo Technology focuses on digital solutions for retail stores, leveraging IoT wireless communication technology [2] - The company has developed a comprehensive business system centered around electronic price tag systems and SaaS cloud platform services [2] - The latest HiLPC protocol allows a single store to support hundreds of cellular network base station devices, achieving an industry-leading concurrency level [2][3] - The company has launched over 40 electronic price tag products, demonstrating continuous innovation [2][3] Market Position and Competitive Advantage - Hanshuo Technology holds a 62% market share in the domestic electronic price tag market, ranking first in China and third globally [3] - The company invested 198 million yuan in R&D in 2024, a 17.34% increase, with 308 R&D personnel, accounting for 32.08% of the workforce [3] - The company aims to become a global leader in retail store digital solutions, focusing on R&D-driven growth [3] Global Expansion Strategy - The global market for electronic price tags is expected to reach 34.9 billion yuan by 2028, indicating significant growth potential [4] - Since 2014, the company has established a global sales and service network, partnering with major international retailers across over 70 countries [4] - In 2024, the company expanded its presence in markets such as Spain, Portugal, Poland, Canada, and Southeast Asia, contributing to revenue growth [4][5] Domestic Market Performance - The domestic revenue for 2024 was 264 million yuan, showing a remarkable year-on-year growth of 63.58% [5] - Support from national policies for digital economy and retail digitalization has created a favorable environment for business development [5] Future Outlook - The company plans to focus on optimizing organization, continuous innovation, and deepening market presence as core strategies [6] - Emphasis will be placed on the innovation of core technologies and products, particularly in AIoT and new energy sectors [6] - The goal is to enhance both the scale and profitability of core and innovative businesses through improved supply chain resilience and product competitiveness [6]

Financial Performance - In Q1 2025, the company achieved revenue of 981 million yuan, a year-on-year increase of 0.74% [1] - The net profit attributable to shareholders, excluding non-recurring gains and losses, was 165 million yuan, reflecting a year-on-year growth of 7.14% [1] - The net cash flow from operating activities reached 93.83 million yuan, showing a significant year-on-year increase of 590.64% [1] - The company invested 42.42 million yuan in research and development during the reporting period [1] Business Overview - The company focuses on IoT wireless communication technology and has developed a business system centered around digital solutions for retail stores, including electronic price tag systems and SaaS cloud platform services [1] - The company has developed a proprietary high-density low-power cellular wireless communication protocol, HiLPC, which offers strong anti-interference capabilities and high concurrency [1] Strategic Direction - The company plans to promote the industrial application of innovative technologies such as IoT, cloud computing, big data, and artificial intelligence in sectors like smart retail, smart office, and intelligent manufacturing [2] - The strategic focus is on a "technology innovation + globalization layout" dual-driven strategy, with an emphasis on expanding its presence in key markets including Europe, Japan, Australia, Southeast Asia, and within China [2] - The integration of AI and IoT technologies is expected to drive a new growth cycle in the smart retail sector, aligning with the digital transformation of traditional industries [2]

中国国际金融股份有限公司 关于汉朔科技股份有限公司 使用募集资金置换预先投入募投项目及 已支付发行费用的自筹资金的核查意见 中国国际金融股份有限公司（以下简称"保荐人"）作为汉朔科技股份有限公司（以 下简称"公司"）首次公开发行股票并在创业板上市的保荐人及持续督导机构，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》《上市公司监管指 引第2号——上市公司募集资金管理和使用的监管要求》《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》《深圳证券交易所上市公司自律监管指引第13 号——保荐业务》等有关规定，就公司使用募集资金置换预先投入募投项目及已支付发行 费用的自筹资金事项进行了核查，具体情况如下： 一、 募集资金的基本情况 经中国证券监督管理委员会《关于同意汉朔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〕1661号）同意注册，公司首次公开发行人民币普通股（A股） 股票4,224.00万股，每股面值为人民币1.00元，发行价格为人民币27.50元/股，本次发行募 集资金总额为人民币116,160.00万元，扣除发行费用（不含增值税）人民币1 ...

中国国际金融股份有限公司 关于汉朔科技股份有限公司 开展外汇套期保值业务的核查意见 中国国际金融股份有限公司（以下简称"保荐人"）作为汉朔科技股份有限公司（以 下简称"公司"）首次公开发行股票并在创业板上市的保荐人和持续督导机构，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》《深圳证券交易所上市公司自 律监管指引第13号——保荐业务》等有关规定，就公司开展外汇套期保值业务的事项进行 了核查，具体情况如下： 一、 开展外汇套期保值业务的目的 （一）币种及业务品种 公司产品以境外销售为主，出口主要结算货币为欧元、美元、澳元、英镑等，随着公 司海外业务的发展，汇率波动将对公司业绩造成一定影响。为规避和防范汇率风险等外汇 市场风险，降低汇率大幅波动对公司经营业绩的不利影响，公司在保证正常经营的前提下， 拟开展外汇套期保值业务。开展外汇套期保值业务能通过金融工具对冲外汇风险，进一步 提高应对外汇汇率波动风险的能力，更好地规避和防范外汇汇率波动风险，减少汇率波动 对公司业绩的影响，增强财务稳健性。 公司外汇套期保值业务以套 ...

一、 申请银行授信并接受关联方担保概述 为保证公司各项业务顺利进行及日常经营资金需要，提高资金营运能力，公司及其全 资子公司拟向银行申请总计不超过人民币45亿元（含）的综合授信额度，包括但不限于办 理人民币或外币流动资金贷款、项目贷款、贸易融资、银行承兑汇票、信用证、保函、票 据贴现、保理、出口押汇、融资租赁、外汇远期结售汇以及衍生产品等相关业务，具体业 务品种、授信额度及授信期限最终以银行实际审批为准。授权有效期限自2024年年度股东 大会审议通过之日起至次年年度股东大会召开之日止。 上述授信额度不等于公司的融资金额，实际融资金额应在授信额度内以银行与公司实 际发生的融资金额为准，具体融资金额将根据公司运营资金的实际需求确定，授信有效期 内，授信额度可循环使用。 中国国际金融股份有限公司 关于汉朔科技股份有限公司 向银行申请综合授信额度并接受关联方担保 的核查意见 中国国际金融股份有限公司（以下简称"保荐人"）作为汉朔科技股份有限公司（以 下简称"公司"）首次公开发行股票并在创业板上市的保荐人及持续督导机构，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 ...

中国国际金融股份有限公司 关于汉朔科技股份有限公司 使用部分闲置自有资金进行现金管理的核查意见 中国国际金融股份有限公司（以下简称"保荐人"）作为汉朔科技股份有限公司（以 下简称"公司"）首次公开发行股票并在创业板上市的保荐人和持续督导机构，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》《深圳证券交易所上市公司自 律监管指引第13号——保荐业务》等有关规定，就公司使用部分闲置自有资金进行现金管 理的事项进行了核查，具体情况如下： 一、 使用部分闲置自有资金进行现金管理的基本情况 （一）现金管理目的 为提高公司资金使用效率，合理利用闲置自有资金，在确保公司及其子公司正常经营、 保证资金流动性及安全性的前提下，对暂时闲置自有资金进行现金管理，以增加资金收益， 为公司和股东谋取较好的投资回报。 （二）额度及期限 公司及其子公司拟使用不超过人民币200,000万元（含本数）的闲置自有资金进行现 金管理。前述现金管理额度由公司及其子公司共享，使用期限自公司2024年度股东大会审 议通过之日起至次年年度股东大会召开之日止， ...

自 2024 年 1 月 1 日 至 2024 年 12 月 31 日止年度财务报表 汉朔科技股份有限公司 KPMG Huazhen LLP 8th Floor, KPMG Tower Oriental Plaza 1 East Chang An Avenue Beijing 100738 China Telephone +86 (10) 8508 5000 Fax +86 (10) 8518 5111 Internet kpmg.com/cn KPMG Huazhen LLP 8th Floor, KPMG Tower Oriental Plaza 1 East Chang An Avenue Beijing 100738 China Telephone +86 (10) 8508 5000 Fax +86 (10) 8518 5111 Internet kpmg.com/cn 毕马威华振会计师事务所 (特殊普通合伙) 中国北京 东长安街 1 号 东方广场毕马威大楼 8 层 邮政编码:100738 电话 +86 (10) 8508 5000 传真 +86 (10) 8518 5111 网址 kpmg.com ...

中国国际金融股份有限公司 关于汉朔科技股份有限公司 2025 年度日常关联交易预计的核查意见 中国国际金融股份有限公司（以下简称"保荐人"）作为汉朔科技股份有限公司（以 下简称"公司"、"汉朔科技"）首次公开发行股票并在创业板上市的保荐人和持续督导机 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》《深圳证券交易 所上市公司自律监管指引第13号——保荐业务》等有关规定，就公司2025年度日常关联交 易预计事项进行了核查，具体情况如下： 一、 日常关联交易基本情况 （一）2025年度日常关联交易概述 根据公司业务发展及日常经营的需要，公司预计2025年度将与嘉兴汉微半导体有限公 司及其下属子公司发生的采购商品或接受劳务日常关联交易总金额不超过人民币3,000万 元。 根据《深圳证券交易所创业板股票上市规则》《公司章程》等相关规定，公司本次日 常关联交易额度经董事会审议通过后，无需提交股东大会审议。 （二）预计日常关联交易类别和金额 单位：人民币万元 | 关联交易类 | | 关联交易 | 关联交易定 | 2025 ...