中信建投证券股份有限公司关于 昆船智能技术股份有限公司 部分募投项目重新论证、延期及调整内部投资结构 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"、"保荐机构"）为昆 船智能技术股份有限公司（以下简称"昆船智能"、"公司"）首次公开发行股票并 在创业板上市的保荐机构及持续督导机构，根据《证券发行上市保荐业务管理办 法》《上市公司募集资金监管规则》《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》等法 规的有关规定，等法规的有关规定，对昆船智能部分募投项目重新论证、延期及 调整内部投资结构事项进行了审慎核查，核查情况如下： 一、募集资金的基本情况 | 序号 | 项目 | 项目投资总额 | 预计募集资金投入金额 | 建设期（月） | | --- | --- | --- | --- | --- | | 1 | | | | | | 1 | 智能装备研制生产能 力提升建设项目 | 48,353.60 | 48,353.60 | 36 | | --- | --- | --- | --- | --- | | 2 | 补充流动资金 | 26,64 ...

Financial Performance - The company's operating revenue for Q3 2025 was ¥283,953,611, a decrease of 30.19% compared to the same period last year, which reported ¥406,747,699[5]. - The net profit attributable to shareholders for Q3 2025 was -¥17,317,720, representing a decline of 182.79% from the previous year's profit of ¥20,916,598[5]. - The basic earnings per share for Q3 2025 was -¥0.0722, down 182.80% from ¥0.0872 in the same period last year[5]. - The total profit for the period was CNY -39,893,847.14, representing a drastic decline of 1944.37% compared to the previous year[11]. - The net profit for the period was a loss of CNY 41,548,787.65, compared to a loss of CNY 6,244,089.50 in the previous period, indicating a significant decline in profitability[24]. - The total comprehensive income for the period was a loss of CNY 41,548,787.65, compared to a loss of CNY 6,244,089.50 in the previous period[24]. Assets and Liabilities - The total assets at the end of the reporting period were ¥4,188,316,824.78, a decrease of 12.87% from ¥4,806,720,743.59 at the end of the previous year[5]. - The company's total liabilities decreased by 24.80% in contract liabilities, reflecting the recognition of previously received advance payments as revenue[10]. - The company's total liabilities include a significant increase in current liabilities, with a rise of 1026.34% to CNY 329,833,702.89 due to reclassification of loans maturing within one year[11]. - Total liabilities decreased to ¥2,398,965,869.97 from ¥2,964,009,922.13, reflecting a decline of approximately 19.1%[20]. - Total equity attributable to shareholders decreased to ¥1,789,350,954.81 from ¥1,842,710,821.46, a decrease of about 2.9%[20]. Cash Flow - The company reported a net cash flow from operating activities of -¥377,376,400, indicating a significant cash outflow compared to the previous period[5]. - The cash flow from operating activities saw a 55.67% decrease to CNY 28,189,412.70, largely due to reduced loan interest subsidies received[12]. - The net cash flow from operating activities was a negative CNY 377,376,488.58, an improvement from a negative CNY 442,426,071.10 in the previous period[26]. - Cash and cash equivalents decreased by 39.78% to ¥679,154,568.70, primarily due to payments for procurement and taxes[10]. - Cash and cash equivalents decreased to ¥679,154,568.70 from ¥1,127,787,125.55, reflecting a decline of approximately 39.8%[18]. - The cash and cash equivalents at the end of the period stood at CNY 678,904,838.70, a slight increase from CNY 674,134,477.42 in the previous period[27]. Expenses and Costs - The total operating costs for the period were CNY 1,414,515,807.56, an increase of 10.98% compared to CNY 1,274,710,211.45 in the previous period[23]. - Sales expenses decreased by 31.78% to CNY 25,682,211.48, primarily due to reductions in employee compensation, rental fees, and travel expenses[11]. - Financial expenses increased by 85.61% to CNY 5,394,046.55, mainly due to last year's loan interest subsidies[11]. - The company incurred financial expenses of CNY 5,394,046.55, which included interest expenses of CNY 8,888,475.32, up from CNY 7,349,332.90 in the previous period[23]. - Research and development expenses were CNY 63,147,159.48, slightly down from CNY 64,774,379.02 in the previous period, reflecting a focus on maintaining R&D investment[23]. Taxation - The income tax expense decreased by 80.31% to CNY 1,654,940.51, primarily due to adjustments in R&D tax deductions from the previous year[11]. - The company reported a decrease in tax expenses, with income tax expenses of CNY 1,654,940.51 compared to CNY 8,407,092.95 in the previous period[24]. - The company experienced a 93.28% increase in tax payments, totaling CNY 73,957,148.14, due to higher VAT payments compared to the previous year[11]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 16,342, with the largest shareholder, Kunming Shipbuilding Equipment Group Co., Ltd., holding 60.00% of shares[13]. - The company has a total of 152,757,633 restricted shares, with no changes in the current period[16]. - The company plans to lift restrictions on certain shares by November 2025[16].

Group 1 - The core viewpoint of the article highlights that Kunshan Intelligent has successfully integrated human-computer interaction technology into its software and automation control products [2] - The company has leveraged new technologies such as 5G communication, artificial intelligence, big data, and cloud technology to enhance the perception, interaction, and decision-making capabilities of its intelligent equipment [2] - Significant product upgrades have been achieved, with applications in various sectors including tobacco, e-commerce, pharmaceuticals, and smart parking [2]

每经AI快讯，10月21日，中船系指数盘中走强，日涨幅达2.04%，成分股多数上涨。其中，久之洋领 涨，涨幅6.86%，中国船舶、中船防务、昆船智能、中国动力等跟涨。 （文章来源：每日经济新闻） ...

Group 1 - The core viewpoint of the news is that the China Shipbuilding sector has shown a positive performance with a 0.83% increase, ranking 7th among concept sectors, driven by several stocks like Kunshan Intelligent and China Shipbuilding [1][2] - Within the China Shipbuilding sector, eight stocks experienced gains, with Kunshan Intelligent leading at a 6.40% increase, followed by China Shipbuilding and China Ship Defense with increases of 1.73% and 1.25% respectively [1][3] - The sector saw a net inflow of 303 million yuan from main funds, with China Shipbuilding receiving the highest net inflow of 264 million yuan [2][3] Group 2 - The main fund inflow ratios for leading stocks in the China Shipbuilding sector were 10.47% for China Ship Defense, 8.07% for Kunshan Intelligent, and 6.36% for China Shipbuilding [3][4] - The trading volume and turnover rates for key stocks in the sector were notable, with Kunshan Intelligent having a turnover rate of 14.18% and China Shipbuilding at 1.56% [3][4] - Stocks that faced declines included China Ship Special Gas and ST Emergency, with decreases of 4.93% and 1.20% respectively [1][4]

Core Viewpoint - The company, Kunshan Intelligent (301311.SZ), has developed autonomous guided vehicles (AGVs) and shuttle vehicles (RGVs) that can be widely applied in various automated handling scenarios within the manufacturing industry and logistics sectors [1] Group 1: Product Applications - The AGVs and RGVs can be utilized in automated production lines and assembly lines for material handling [1] - They are also applicable in logistics for tasks such as material stacking, container handling, automated picking, and smart parking [1] Group 2: R&D Focus - Currently, the company does not have any plans for the development of humanoid robots [1]

Core Points - The Shanghai Composite Index is currently at 3870.35 points, above the annual line, with a decline of 0.49% and a total trading volume of 20,965.31 billion yuan [1] - A total of 67 A-shares have surpassed the annual line today, with notable stocks showing significant deviation rates [1] Summary by Category Stock Performance - Stocks with the highest deviation rates include: - Ainoju (艾能聚) with a deviation rate of 8.12% and a daily increase of 9.39% [1] - LiuGong (柳工) with a deviation rate of 5.44% and a daily increase of 5.69% [1] - Asia Optical (亚世光电) with a deviation rate of 5.10% and a daily increase of 9.99% [1] - Other stocks that have just crossed the annual line include: - Guangzhou Restaurant (广州酒家) and Junzheng Group (君正集团) with smaller deviation rates [1] Trading Data - The trading data for stocks that broke the annual line includes: - Ainoju: Latest price 20.62 yuan, annual line 19.07 yuan, turnover rate 22.19% [1] - LiuGong: Latest price 11.51 yuan, annual line 10.92 yuan, turnover rate 7.78% [1] - Asia Optical: Latest price 23.13 yuan, annual line 22.01 yuan, turnover rate 12.90% [1]

Core Viewpoint - Kunshan Intelligent Technology Co., Ltd. shows a stable performance in financing activities and revenue growth, indicating a strong position in the smart logistics and production line solutions market [1][2]. Financing Summary - On October 10, Kunshan Intelligent's financing buy amounted to 8.24 million yuan, with a net financing purchase of 0.86 million yuan, reflecting a healthy demand for its shares [1]. - The total financing balance reached 133 million yuan, accounting for 7.90% of the circulating market value, which is above the 70th percentile of the past year, indicating a high level of investor interest [1]. - No short selling activities were recorded on the same day, with a short selling balance of 0, suggesting a lack of bearish sentiment among investors [1]. Company Overview - Kunshan Intelligent, established on March 26, 1998, and listed on November 30, 2022, specializes in smart logistics and production line solutions [2]. - The company's revenue composition includes 35.72% from smart logistics systems and equipment, 35.40% from smart production line systems and equipment, and 26.39% from specialized products and related services [2]. - As of September 30, the number of shareholders decreased to 16,300, while the average circulating shares per person increased by 0.73% to 5,338 shares [2]. Financial Performance - For the first half of 2025, Kunshan Intelligent reported a revenue of 1.095 billion yuan, representing a year-on-year growth of 24.38%, while the net profit attributable to shareholders was -24.23 million yuan, showing a 10.79% increase compared to the previous year [2]. - The company has distributed a total of 39.60 million yuan in dividends since its A-share listing [3]. Institutional Holdings - As of June 30, 2025, Hong Kong Central Clearing Limited was the tenth largest circulating shareholder, holding 341,400 shares, a decrease of 862,800 shares from the previous period [3].

Core Viewpoint - Kunshan Intelligent (301311) announced that the scheduled disclosure date for its Q3 2025 report is October 30, 2025 [1] Group 1 - The company is set to disclose its Q3 2025 financial results on October 30, 2025 [1]

Core Viewpoint - The company emphasizes its commitment to optimizing its business operations and enhancing profitability to achieve sustained growth in intrinsic value for shareholders [1] Group 1 - The company is focused on improving its operational performance and industry structure [1] - The company aims to continuously enhance its profitability [1] - The company is dedicated to creating value for all shareholders [1]