Group 1 - The company has products that can be applied in the field of industrial robots, specifically industrial automation connectors [2] - Currently, the company's products are used on a small scale in the industrial robot sector [2]

并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。 重要内容提示： 证券代码：301278 证券简称：快可电子 公告编号：2025-071 苏州快可光伏电子股份有限公司 关于以简易程序向特定对象发行股票限售股份解除限售 1、本次解除限售股份为苏州快可电子股份有限公司(以下简称"公司")2024 年度以简易程序向特定对象发行股票的限售股份。本次限售股份解禁数量为 6,419,103 股，占公司总股本的 7.1555%。 2、本次解除限售股份的上市流通日期为 2025 年 11 月 10 日(星期一)。 一、本次申请解除限售股份的基本情况 经中国证券监督管理委员会《关于同意苏州快可光伏电子股份有限公司向特 定对象发行股票注册的批复》(证监许可〔2025〕797 号)批准，并经深圳证券交 易所同意，公司以简易程序向特定对象发行人民币普通股（A 股）6,419,103 股。 本次定向发行的股份已于 2025 年 4 月 29 日完成登记，公司股份总数由 83,361,040 股变更为 89,780,143 股；2023 年股权激励第二、第三期限制性 ...

中信建投证券股份有限公司 关于苏州快可光伏电子股份有限公司 以简易程序向特定对象发行股票限售股份解除限售 并上市流通的核查意见 中信建投证券股份有限公司（以下简称"中信建投证券"或"保荐人"）作 为苏州快可光伏电子股份有限公司（以下简称"快可电子"或"公司"）2024 年 度以简易程序向特定对象发行股票的保荐人，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》等相关规定，对快可电子 2024 年 度以简易程序向特定对象发行股票限售股份解除限售并上市流通的事项进行了 审慎核查，具体情况如下： 一、本次申请解除限售股份的基本情况 经中国证券监督管理委员会《关于同意苏州快可光伏电子股份有限公司向特 定对象发行股票注册的批复》（证监许可〔2025〕797 号）批准，并经深圳证券 交易所同意，公司以简易程序向特定对象发行人民币普通股（A 股）6,419,103 股。本次定向发行的股份已于 2025 年 4 月 29 日完成登记，公司股份总数由 83,361,040 股变更为 89,780,143 股；2023 年股权激 ...

Core Viewpoint - The photovoltaic industry is experiencing a significant performance restructuring, with major companies in key sectors such as equipment, inverters, junction boxes, and mounting brackets facing declining profits and some even reporting losses, indicating a shift in the industry's profitability logic [1] Equipment Sector - Equipment suppliers are seeing the most pronounced decline, with several leading companies reporting both revenue and net profit decreases in Q3 [2] - Jiejia Weichuang (捷佳伟创) reported Q3 revenue of 4.734 billion yuan, a decrease of 17.26% year-on-year, and net profit of 858 million yuan, a sharp decline from previous growth rates [2] - Jing Sheng Machinery (晶盛机电) experienced a dramatic drop in Q3 revenue to 2.474 billion yuan, down 42.87%, and net profit of 262 million yuan, down 69.65% [2] - Maiwei Co., Ltd. (迈为股份) reported Q3 revenue of 1.991 billion yuan, a decline of 31.3%, and net profit of 269 million yuan, down 9.42% [4][5] - Aotewei (奥特维) saw its Q3 revenue drop to 1.292 billion yuan, down 48.65%, with net profit plummeting 90.04% to 50 million yuan [6] Inverter Sector - The inverter industry is experiencing a bifurcated performance, with some companies like Sungrow (阳光电源) and GoodWe (固德威) reporting significant profit increases, while others face profit declines [7] - Sungrow achieved a net profit of 4.147 billion yuan in Q3, up 57.04% year-on-year, while GoodWe's net profit surged by 200.83% [7] - Conversely, companies like Jinlang Technology (锦浪科技) and Deye (德业股份) reported net profit declines of 16.85% and 17.84%, respectively [7] Junction Box Sector - The junction box sector has also seen significant profit declines, with Zairun New Energy (泽润新能) reporting a net loss of approximately 3.856 million yuan in Q3, a 115.93% year-on-year drop [8] - Kuai Ke Electronics (快可电子) reported Q3 revenue of 328 million yuan, up 66.1%, but net profit decreased by 64.47% [8] Mounting Bracket Sector - The mounting bracket sector is facing similar challenges, with Qingyuan Co. (清源股份) reporting Q3 revenue of 470 million yuan, a 5.47% increase, but net profit down 73.94% [8] - Leading company Zhongxinbo (中信博) reported a net profit decline of 74.49% year-on-year, with Q3 losses reaching 48.39 million yuan, a 119.76% drop [9][10] Overall Industry Outlook - The overall profitability of the photovoltaic equipment, inverter, junction box, and mounting bracket sectors is declining, with industry experts indicating that the stability of returns from photovoltaic power stations is not as strong as before, complicating investment decisions [10]

Core Viewpoint - 快可电子 is a leading player in the photovoltaic junction box sector, showcasing strong R&D capabilities and efficient production, with a reliable product quality and significant market share [1] Group 1: Business Performance - In Q3 2025, 快可电子 reported revenue of 799 million yuan, ranking 17th in the industry out of 23 companies, with the industry leader, 隆基绿能, generating 50.915 billion yuan [2] - The main business composition includes junction boxes at 392 million yuan (83.14%), connectors at 56.54 million yuan (12.00%), and other products at 22.89 million yuan (4.86%) [2] - The net profit for the same period was 19.96 million yuan, ranking 6th in the industry, with the top performer, 横店东磁, achieving a net profit of 1.808 billion yuan [2] Group 2: Financial Ratios - As of Q3 2025, the asset-liability ratio for 快可电子 was 34.20%, an increase from 28.48% year-on-year, significantly lower than the industry average of 70.17% [3] - The gross profit margin for Q3 2025 was 9.03%, down from 19.23% year-on-year, but still above the industry average of 1.80% [3] Group 3: Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 2.54% to 10,900, with an average holding of 4,117.42 circulating A-shares, a decrease of 2.48% [5] Group 4: Executive Compensation - The chairman, 段正刚, received a salary of 924,100 yuan in 2024, a decrease of 78,000 yuan from 2023 [4] Group 5: Market Outlook - According to 东吴证券, 快可电子's revenue for Q1-Q3 2025 was 799 million yuan, a year-on-year increase of 7.39%, while the net profit decreased by 77.57% [6] - Q3 2025 revenue reached 328 million yuan, reflecting a year-on-year increase of 66.10% and a quarter-on-quarter increase of 35.03% [6] - The company is expected to face intensified competition in the photovoltaic industry, leading to a downward revision of profit forecasts for 2025-2026, with projected net profits of 31 million yuan, 53 million yuan, and 75 million yuan for 2025, 2026, and 2027 respectively [6]

Core Points - Kuai Ke Electronics has completed the business registration change procedures and obtained a new business license from the Suzhou Data Bureau [2] Company Summary - The company has successfully updated its business registration, indicating a potential shift or enhancement in its operational capabilities [2] - The issuance of a new business license may facilitate future business activities and growth opportunities for Kuai Ke Electronics [2]

证券代码：301278 证券简称：快可电子 公告编号：2025-070 苏州快可光伏电子股份有限公司 关于完成工商变更登记并换发营业执照的公告 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。 1、统一社会信用代码：91320000772458468T 2、名称：苏州快可光伏电子股份有限公司 3、类型：股份有限公司（上市） 4、住所：苏州工业园区新发路 31 号 一、基本情况 苏州快可光伏电子股份有限公司（以下简称"公司"）于 2025 年 8 月 25 日召开第五届董事会第二十一次会议，并于 2025 年 9 月 19 日召开公司 2025 年 第二次临时股东大会，审议通过了《关于取消监事会、变更注册资本、增加经营 范围、修订<公司章程>并办理工商变更登记的议案》，具体内容详见公司分别于 2025 年 8 月 26 日、2025 年 9 月 19 日在巨潮资讯网（www.cninfo.com.cn）上披 露的《关于取消监事会、变更注册资本、增加经营范围、修订<公司章程>及制定、 修订、废止公司部分制度的公告》（公告编号：2025-055）、《2025 年第二次 ...

Investment Rating - The investment rating for the company is "Accumulate" (maintained) [1] Core Views - The company reported an increase in export orders leading to improved performance in Q3 2025, with a significant quarter-on-quarter revenue increase of 35.03% [7] - The overall revenue for the first three quarters of 2025 reached 799 million yuan, a year-on-year increase of 7.39%, while the net profit attributable to shareholders was 20 million yuan, a year-on-year decrease of 77.57% [7] - The gross margin improved to 10.33% in Q3 2025, up by 5.10 percentage points from the previous quarter, driven by higher overseas orders [7] - The company has adjusted its profit forecasts for 2025-2026 due to intense competition in the photovoltaic industry, with expected net profits of 31 million yuan in 2025, 53 million yuan in 2026, and 75 million yuan in 2027 [7] Financial Summary - Total revenue forecast for 2023 is 1,284.99 million yuan, with a year-on-year growth of 16.86% [1] - The net profit attributable to shareholders for 2023 is projected at 193.61 million yuan, reflecting a year-on-year increase of 63.48% [1] - The earnings per share (EPS) for 2023 is estimated at 2.16 yuan, with a price-to-earnings (P/E) ratio of 16.41 [1] - The company’s total assets are projected to reach 2,239 million yuan by 2025, with a debt-to-asset ratio of 34.20% [6][8] - The cash flow from operating activities is expected to be negative at -521 million yuan in 2025, indicating potential liquidity challenges [8]

Financial Performance - In the first three quarters of 2025, the company achieved operating revenue of 799 million yuan, a year-on-year increase of 7.39% [1] - The net profit attributable to shareholders decreased by 77.57% to 19.96 million yuan, while the net profit excluding non-recurring gains and losses fell by 88.22% to 9.27 million yuan [1] - The net cash flow from operating activities was -64.21 million yuan, compared to 149 million yuan in the same period last year [1] Historical Financial Data - For the years 2023 and 2024, the company's projected operating revenues are 1.285 billion yuan and 903 million yuan, respectively [1] - The projected net profits attributable to shareholders for 2023 and 2024 are 194 million yuan and 99.01 million yuan, respectively [1] - The projected net profits excluding non-recurring gains and losses for 2023 and 2024 are 178 million yuan and 82.97 million yuan, respectively [1] - The projected net cash flow from operating activities for 2023 and 2024 is 219 million yuan and 146 million yuan, respectively [1] Initial Public Offering (IPO) Details - The company was listed on the Shenzhen Stock Exchange's Growth Enterprise Market on August 4, 2022, issuing 16 million shares at a price of 34.84 yuan per share [2] - The total funds raised amounted to 557.44 million yuan, with a net amount of 495.10 million yuan after deducting issuance costs [2] - The funds were intended for expansion projects related to photovoltaic component intelligent protection and connection systems, R&D center construction, and working capital [2] Dividend Distribution - The company announced a cash dividend distribution plan for 2022, distributing 2.00 yuan per 10 shares, totaling 12.8 million yuan [3] - Additionally, the company will increase its capital by issuing 3 new shares for every 10 shares held, resulting in a total of 19.2 million new shares issued [3] Subsequent Fundraising Activities - On May 7, 2025, the company announced a stock issuance to specific investors, issuing 6,419,103 shares at a price of 29.00 yuan per share, raising a total of approximately 186.15 million yuan [4] - After deducting underwriting fees and other issuance costs, the net amount raised was approximately 183.85 million yuan [4] - The total amount raised from the two fundraising activities is approximately 744 million yuan [4]

Group 1 - The core viewpoint of the news is that KuaiKe Electronics (301278.SZ) reported its Q3 2025 results, highlighting changes in institutional and foreign investment holdings [1][2] Group 2 - As of October 22, 2025, six institutional investors disclosed holding a total of 7.0074 million shares of KuaiKe Electronics, representing 7.81% of the total share capital, with a decrease of 2.61 percentage points compared to the previous quarter [1] - The institutional investors include Chengdu Fund, Beijing Taide Sheng, Shanghai Bansheng, J.P. Morgan Securities PLC, and others [1] Group 3 - In terms of public funds, 33 public funds were not disclosed in this period compared to the previous quarter, including notable funds such as Huaxia Panrun and Wanjiaguo Zheng 2000 ETF [1] Group 4 - From the perspective of foreign investment, there was an increase in holdings from one foreign fund, J.P. Morgan Securities PLC, with an increase of 0.16% [2] - One foreign institution, BARCLAYS BANK PLC, was not disclosed in this period compared to the previous quarter [2]