公司于 2025 年 1 月 20 日召开第二届董事会第十一次会议和第二届监事会第 十次会议，审议通过《关于使用闲置自有资金进行委托理财的议案》，同意在保 障公司及子公司正常经营运作资金需求及风险可控的情况下，使用额度不超过人 民币 3 亿元（含本数）的闲置自有资金进委托理财。上述额度自董事会审议通过 之日（即 2025 年 1 月 20 日）起 12 个月内循环滚动使用。 二、本次拟增加闲置自用资金进行委托理财额度的基本情况 东海证券股份有限公司 关于江苏康力源体育科技股份有限公司 增加闲置自有资金进行委托理财额度的核查意见 东海证券股份有限公司（以下简称"保荐人"）作为江苏康力源体育科技股 份有限公司（以下简称"康力源"或"公司"）首次公开发行股票并在创业板上 市项目的保荐人，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》《深圳证券交易所上市公司自律监管指引第 7 号——交易与 关联交易》及《深圳证券交易所上市公司自律监管指引第 13 号——保荐业务》 等相关法律法规和规范性文件的规定，对康力源增加闲置 ...

Market Overview - The entertainment products sector experienced a decline of 1.14% on September 12, with Jinling Sports leading the drop [1] - The Shanghai Composite Index closed at 3883.69, up 0.22%, while the Shenzhen Component Index closed at 12996.38, up 0.13% [1] Individual Stock Performance - High乐股份 (Code: 002348) closed at 4.00, up 2.83% with a trading volume of 474,700 shares and a transaction value of 188 million [1] - 海伦钢琴 (Code: 300329) closed at 13.11, up 1.00% with a trading volume of 78,100 shares and a transaction value of 103 million [1] - 金陵体育 (Code: 300651) closed at 24.68, down 4.16% with a trading volume of 133,100 shares and a transaction value of 331 million [2] Capital Flow Analysis - The entertainment products sector saw a net outflow of 100 million from institutional investors, while retail investors had a net inflow of 90.34 million [2] - The main capital inflow and outflow for individual stocks showed that 高乐股份 had a net inflow of 31.96 million from institutional investors [3] - In contrast, 金陵体育 experienced a significant net outflow of 33.1 million from institutional investors [3]

Group 1 - The core viewpoint of the news is that 康力源's stock has experienced fluctuations, with a year-to-date increase of 47.72% but a recent decline in the last five and twenty trading days [1] - As of September 12, 康力源's stock price was 41.23 yuan per share, with a total market capitalization of 2.749 billion yuan [1] - The company has seen a net outflow of main funds amounting to 6.2473 million yuan, with significant selling pressure from large orders [1] Group 2 - 康力源's main business focuses on the research, development, manufacturing, and sales of diversified and customized fitness equipment, with indoor sales accounting for 90.41% of total revenue [1] - As of June 30, 康力源 had 9,837 shareholders, an increase of 26.42% from the previous period, while the average circulating shares per person decreased by 20.90% [2] - For the first half of 2025, 康力源 reported a revenue of 252 million yuan, a year-on-year decrease of 18.37%, and a net profit attributable to shareholders of 29.2838 million yuan, down 2.63% year-on-year [2] Group 3 - 康力源 has distributed a total of 50.025 million yuan in dividends since its A-share listing [3]

上海市锦天城律师事务所 法律意见书 上海市锦天城律师事务所 关于江苏康力源体育科技股份有限公司 2025 年第一次临时股东大会的 法律意见书 地址：上海市浦东新区银城中路 501 号上海中心大厦 11/12 层 电话：021-20511000 传真：021-20511999 邮编：200120 上海市锦天城律师事务所 关于江苏康力源体育科技股份有限公司 2025 年第一次临时股东大会的法律意见书 致：江苏康力源体育科技股份有限公司 上海市锦天城律师事务所（以下简称"本所"）接受江苏康力源体育科技股 份有限公司（以下简称"公司"）的委托，指派律师出席公司 2025 年第一次 临时股东大会（以下简称"本次股东大会"），并依据《中华人民共和国公 司法》（以下简称"《公司法》"）、《中华人民共和国证券法》（以下称 "《证券法》"）《上市公司股东会规则》等法律、法规、规章、规范性文 件以及《江苏康力源体育科技股份有限公司章程》（以下简称"《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，本所及本所律师依据《律师事务所从事证券法律 业务管理办法》和《律师事务所证券法律业务执业规则（试行）》等规定， 严 ...

证券代码：301287 证券简称：康力源 公告编号：2025-045 江苏康力源体育科技股份有限公司 2025年第一次临时股东大会决议公告 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.本次股东大会未出现否决提案的情形。 2.本次股东大会不涉及变更以往股东大会已通过的决议。 一、会议召开和出席情况 1.会议召集人：江苏康力源体育科技股份有限公司（以下简称"公司"）董 事会； （2）通过深圳证券交易所互联网投票系统进行网络投票的开始时间为2025 年9月11日上午9:15，结束时间为2025年9月11日下午15:00。 6.召开方式：现场会议与网络投票相结合的方式。 7.本次股东大会的召集和召开符合《公司法》、《上市公司股东会规则》等有 关法律、行政法规、部门规章、规范性文件和《公司章程》的规定。 二、会议出席情况 1.出席会议的总体情况 2.会议主持人：公司董事长衡墩建先生； 3.现场会议召开时间：2025年9月11日（星期四）下午2:30； 4.现场会议召开地点：江苏省邳州市炮车工业园康力源1楼会议室； 5.网络投票时间： （1）通过深圳证 ...

关于江苏康力源体育科技股份有限公司 | 保荐人名称：东海证券股份有限公司 | 被保荐公司简称：康力源 | | --- | --- | | 保荐代表人姓名：张兴初 | 联系电话：021-20333529 | | 保荐代表人姓名：李郭明 | 联系电话：021-20333529 | 一、保荐工作概述 | 项目 | 工作内容 | | --- | --- | | 1.公司信息披露审阅情况 | | | （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 | | 2．督导公司建立健全并有效执行规章制度的情况 | | | （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、内控制度、内部审计制度、关联交易制 | 是 | | 度） | | | （2）公司是否有效执行相关规章制度 | 是 | | 3.募集资金监督情况 | | | （1）查询公司募集资金专户次数 | 1 次 | | | 日，"康力源 | | | 是，募投资金项目进展的调整及信息披 露情况如下： | | | 1）截至 2025 年 6 月 30 | | | ...

Group 1 - The sports industry sector is experiencing significant growth, with stocks such as Huayang Racing, Lisheng Sports, and Eurasia Group reaching their daily limit up [1] - As of September 5, notable stock performances include Huayang Racing up by 29.98% to 48.52, and Lisheng Sports up by 10.02% to 15.04 [2] Group 2 - The State Council has issued an opinion aimed at unleashing sports consumption potential, with a goal to cultivate world-class sports enterprises and events by 2030, targeting a total industry scale exceeding 70 trillion yuan [3] - Key measures include expanding sports product supply, stimulating consumer demand, strengthening sports enterprises, and enhancing service levels to create a favorable market environment [3] Group 3 - Sports consumption is identified as a significant area for improvement, with a strong demand for sports events across urban and rural areas, indicating a vibrant market [4] - China's sports consumption as a percentage of income is comparable to developed countries, but per capita spending remains significantly lower, suggesting room for growth in the sports economy [4]

Core Viewpoint - The recent financial report of Kangliyuan (301287) indicates a decline in revenue and net profit, with significant increases in expenses, raising concerns about the company's financial health and operational efficiency [1][2]. Financial Performance - As of the reporting period, the company's total revenue was 252 million yuan, a year-on-year decrease of 18.37%, and the net profit attributable to shareholders was 29.28 million yuan, down 2.63% [1]. - In Q2, total revenue was 113 million yuan, a decline of 21.47%, and net profit was 10.54 million yuan, down 17.09% [1]. - The gross margin was 34.37%, an increase of 6.75% year-on-year, while the net margin was 11.54%, up 17.99% [1]. - Total expenses (selling, administrative, and financial) amounted to 52.32 million yuan, accounting for 20.73% of total revenue, with a year-on-year increase of 30.72% [1]. Cash Flow and Debt - The net cash flow from operating activities increased by 86.31%, attributed to reduced operating expenditures [2]. - The net cash flow from investing activities rose by 96.95%, due to the recovery of financial products [2]. - The net cash flow from financing activities surged by 1072.34%, indicating increased fundraising efforts [2]. - The net increase in cash and cash equivalents was up by 739.39%, also due to increased fundraising [2]. Return on Investment - The company's return on invested capital (ROIC) was 4.24% last year, indicating weak capital returns, with a historical median ROIC of 11.76% since its listing [3]. - The net profit margin last year was 11.83%, suggesting average added value from products or services [3]. Financial Health - The company has a healthy cash asset position, which is crucial for its operational stability [4]. - The average operating cash flow over the past three years is only 18.24% of current liabilities, indicating potential liquidity concerns [5]. - The interest-bearing debt ratio has reached 21.75%, warranting attention to the company's debt management [5].

Core Viewpoint - The company 康力源 (Kangliyuan) has reported strong financial performance in the first half of 2025, with significant growth in revenue and net profit, while also emphasizing its strategic shift towards smart fitness equipment and comprehensive service solutions [1][2][3] Financial Performance - In the first half of 2025, the company achieved operating revenue of 252 million yuan and a net profit attributable to shareholders of 29.28 million yuan [1] - The net cash flow from operating activities reached 48.52 million yuan, marking an increase of 86.31% year-on-year [1] - The board approved a profit distribution plan, proposing a cash dividend of 1.80 yuan per 10 shares, totaling 12 million yuan, which represents 40.98% of the net profit for the period [1] Strategic Initiatives - The company is actively transitioning from traditional fitness equipment to smart equipment, with a focus on integrating various functionalities such as health monitoring and personalized training recommendations [2] - 康力源 is shifting from a manufacturing-centric model to a service-oriented approach, leveraging the "Internet + fitness equipment + services" model to expand into smart gyms and other integrated projects [2] - The company maintains a diversified sales strategy, combining domestic and international sales, as well as online and offline channels, with products exported to over 40 countries and regions [2] Industry Outlook - The domestic sports industry is experiencing a new growth phase, supported by government policies and an increasing public awareness of health and fitness [3] - 康力源 plans to capitalize on trends towards smart and service-oriented transformations, enhancing R&D and brand development to meet evolving consumer demands globally [3]

Core Insights - Jiangsu Kangliyuan Sports Technology Co., Ltd. reported a revenue of 252 million yuan and a net profit of 29.28 million yuan for the first half of 2025, with a significant increase in net cash flow from operating activities by 86.31% to 48.52 million yuan [1][2]. Financial Performance - The company achieved a revenue of 228 million yuan from indoor fitness equipment with a gross margin of 34.94% and 21.32 million yuan from outdoor fitness equipment with a gross margin of 26.66% [1]. - Domestic revenue amounted to 67.56 million yuan with a gross margin of 32.58%, while overseas revenue reached 185 million yuan with a gross margin of 35.02% [1]. Business Strategy - The company is transitioning from traditional equipment to smart equipment, integrating features such as body composition monitoring and exercise feedback, creating a cycle of "measure-evaluate-guide-train" [2]. - Kangliyuan is also shifting towards a service-oriented manufacturing model, leveraging "Internet + fitness equipment + services" to expand into smart gyms and health integration projects [2]. Production and Market Expansion - A new factory in Malaysia is set to commence production, enhancing the company's production layout to better address international trade uncertainties and expand into markets in Southeast Asia, the Middle East, Australia, and New Zealand [2]. Dividend Announcement - The company announced a cash dividend of 1.80 yuan per 10 shares, totaling 12 million yuan, which represents 40.98% of the net profit attributable to shareholders for the first half of 2025 [2].