Investment Rating - The report maintains a positive investment rating for the service consumption sector, highlighting various opportunities across different segments [4]. Core Insights - The service consumption sector is experiencing a policy-driven upswing, with traditional consumption patterns improving and new consumption trends maintaining high levels of activity [3]. - The report emphasizes the importance of government policies in stimulating demand, particularly in areas such as travel, education, and healthcare, which are expected to enhance disposable income and reduce precautionary savings [4][6]. - The tourism market in China is poised for growth, with significant potential for increasing per capita spending and length of stay, indicating a shift towards higher-value consumption [11][12]. Summary by Sections Service Consumption - The report notes that service consumption is being catalyzed by favorable policies, leading to an upward trend in economic activity [3]. - Key areas of focus include travel, education, and healthcare, with policies aimed at expanding service offerings and enhancing consumer experiences [4][6]. Traditional Consumption - Some traditional consumption sectors are seeing improvements in market dynamics, particularly in gold investment and duty-free shopping, which are benefiting from new tax regulations and expanded product offerings [4][58]. - Companies like Cai Bai and China Duty Free are highlighted for their strategic advantages in the evolving market landscape [4]. New Consumption Trends - New consumption continues to thrive, with sectors like consumer technology and retail undergoing rapid transformation, driven by changing consumer preferences and technological advancements [4]. - The report identifies opportunities in companies that are adapting to these trends, such as Ugreen Technology and KANAT Optical [4]. Tourism Sector - The domestic tourism market is projected to grow significantly, with 2024 estimates indicating 56.2 billion domestic tourist trips and a total consumption of 57,500 billion yuan [11]. - The report highlights that China's per capita tourism spending remains low compared to developed countries, suggesting substantial room for growth in this area [12][17]. Policy Developments - The report outlines a timeline for policy evolution in service consumption, emphasizing the government's commitment to enhancing service quality and expanding consumer access [8]. - Key initiatives include promoting leisure travel, improving consumer rights protection, and expanding service sector investments [9]. Company-Specific Opportunities - The report recommends specific companies for investment based on their strategic positioning and growth potential, including Huazhu Group, Jin Jiang Hotels, and various educational and retail firms [4]. - It also notes the importance of adapting to changing consumer behaviors and preferences, particularly in the context of new consumption trends [4].

证券代码：301322 证券简称：绿通科技 公告编号：2026-020 广东绿通新能源电动车科技股份有限公司 | 股东名称 | 减持方式 | | 减持期间 | | 减持均价 （元/股） | 减持股数 （股） | 减持比例 | | --- | --- | --- | --- | --- | --- | --- | --- | | 创钰铭晨 | 集中竞价 | 年 2026 | 月 3 | 日至 19 | 31.83 | 81,000 | 0.06% | | | | 年 2026 | 月 3 | 日 20 | | | | | 创钰铭恒 | 未减持 | | - | | - | - | - | | 创钰铭汇 | 未减持 | | - | | - | - | - | | 创钰凯越 | 未减持 | | - | | - | - | - | | 创钰铭泰 | 集中竞价 | 2026 年 年 2026 | 2 月 月 3 | 26 日至 日 20 | 34.65 | 437,799 | 0.31% | | | | 2026 年 | 2 月 | 11 日 至 | | | | | | 大宗交易 | 2026 年 | 3 月 | 11 ...

Investment Rating - The report maintains an "Outperform" rating for the home appliance industry [2][48]. Core Insights - The AWE2026 exhibition highlighted the significant trends of "embodiment + AI" in home appliances, showcasing advancements in executing household tasks and enhancing user experience [7][48]. - The integration of AI is expected to make home appliances smarter and more humanized, with products featuring advanced perception and decision-making capabilities [26][48]. - New product categories such as consumer-grade 3D printing and smart mobility are emerging, indicating further growth potential for the industry [32][48]. Summary by Sections AWE2026 Showcases "Embodiment + AI" Trends - The AWE2026 event, held from March 12-15, 2026, in Shanghai, attracted over 1,200 exhibitors and 200,000 visitors, focusing on AI technology and smart living scenarios [7][48]. - The exhibition featured a dual-zone model, emphasizing both consumer electronics and upstream core components [7]. Embodiment Enhances Appliance Execution - Home appliances are increasingly capable of executing household tasks effectively, with companies like Haier and Hisense showcasing robots designed for various domestic scenarios [9][48]. - Haier's family service robots demonstrate advanced capabilities, such as recognizing and sorting food items, while Hisense introduced humanoid robots for commercial and domestic use [9][48]. AI Enhances Intelligence and Humanization - AI models are being integrated into home appliances to improve their decision-making and service capabilities, with products like Haier's AI Eye 2.0 and Boss Appliances' AI cooking glasses leading the way [26][48]. - The report anticipates that as AI capabilities evolve, appliances will become more intuitive and user-friendly [26][48]. Emerging Product Categories Worth Noting - The report highlights the growth of consumer-grade 3D printing, with companies like Anker and JD.com launching innovative products aimed at expanding the market [32][48]. - In smart mobility, new products such as electric scooters and water flying vehicles were introduced, showcasing advancements in personal transportation [37][48]. Investment Recommendations - The report recommends investing in leading companies with competitive advantages, including Midea Group, Haier Smart Home, Hisense, and Gree Electric for white goods; Hisense Visual for TVs; and Roborock and Ecovacs for cleaning appliances [48].

广东绿通新能源电动车科技股份有限公司 简式权益变动报告书 上市公司名称：广东绿通新能源电动车科技股份有限公司 上市地点：深圳证券交易所 股票简称：绿通科技 股票代码：301322 信息披露义务人 1：广州创钰铭晨股权投资基金企业（有限合伙） 通讯地址/住所：广州市南沙区南沙街星豪街 1 号 1117 房 26 信息披露义务人 2：广州创钰铭恒股权投资基金企业（有限合伙） 通讯地址/住所：广州市南沙区丰泽东路 106 号（自编 1 号楼）X1301-D5781（集 群注册）（JM） 信息披露义务人 3：珠海创钰铭汇股权投资基金企业（有限合伙） 通讯地址/住所：珠海市横琴新区琴政路 588 号 2 栋 3003 房 信息披露义务人 4：广州创钰凯越创业投资基金合伙企业（有限合伙） 通讯地址/住所：广州市南沙区南沙街星豪街 1 号 1117 房 13 信息披露义务人 5：珠海创钰铭泰股权投资基金企业（有限合伙） 通讯地址/住所：珠海市横琴新区宝华路 6 号 105 室-17659 信息披露义务人 6：拓弘（珠海）创业投资企业（有限合伙） 通讯地址/住所：珠海市横琴新区琴朗道 88 号 736 办公-A 信息披露义务 ...

数倍暨披露简式权益变动书的提示性公告 公司持股 5%以上股东匡小烨及其一致行动人保证向本公司提供的信息内容真 实、准确、完整，没有虚假记载、误导性陈述或重大遗漏。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一致。 证券代码：301322 证券简称：绿通科技 公告编号：2026-019 广东绿通新能源电动车科技股份有限公司 关于持股 5%以上股东及其一致行动人权益变动触及 5%整 特别提示： 1．本次权益变动系因广东绿通新能源电动车科技股份有限公司（以下简称 "公司"）实施资本公积金转增股本方案且回购账户中的股份不参与利润分配、股 东一致行动人内部协议转让、公司回购股份注销、股东主动减持等事项，导致公 司持股 5%以上股东匡小烨及其一致行动人广州创钰铭晨股权投资基金企业（有 限合伙）、广州创钰铭恒股权投资基金企业（有限合伙）、珠海创钰铭汇股权投 资基金企业 （有限合伙）、广州创钰凯越创业投资基金合伙企业（有限合伙）、 珠海创钰铭泰股权投资基金企业（有限合伙）、拓弘（珠海）创业投资企业（有 限合伙）（以下分别简称"创钰铭晨"、"创钰铭恒"、"创钰铭汇"、"创钰凯越"、"创 钰铭泰"、"拓弘投资" ...

Group 1: Overseas Expansion and Market Strategy - The company is planning to establish overseas production bases in Vietnam and Egypt to mitigate the impact of high tariffs and trade barriers in the U.S. market. The Vietnam factory will primarily handle U.S. orders, while the Egypt factory will serve North America and Europe [2][3]. - Despite a decline in sales in the U.S. market due to high tariffs, the company has seen significant success in expanding into non-U.S. markets, with expectations for gradual recovery in the U.S. market as overseas production capacity is released [2][3]. Group 2: Growth Logic of the Global Electric Vehicle Industry - The global electric vehicle industry is believed to be in a long-term growth phase driven by three main factors: the diversification of application scenarios, policy-driven electrification for short-distance transport, and continuous technological upgrades [3]. - The company identifies a shift from traditional golf carts to applications in community transport, tourism, and industrial logistics as a key trend in the industry [3]. Group 3: Product Development and Innovation - The company has a diverse product line, including golf carts, multi-functional sightseeing vehicles, electric trucks, and street sweepers, catering to various market needs [3]. - In 2026, the company plans to introduce new models such as the D203.4S and D205 series neighborhood vehicles, and enhance its smart connectivity systems to improve user experience and management efficiency [3]. Group 4: Semiconductor Equipment and Maintenance Services - The company has established a technology system that covers mature processes and extends into advanced processes, primarily servicing equipment for 28nm and supporting up to 14nm process technology [4]. - The growth trend for maintenance services is expected to be strong, benefiting from the continuous expansion of domestic wafer fab capacities and the increasing installed base of detection equipment [4].

本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一致。 特别提示： 1．广东绿通新能源电动车科技股份有限公司（以下简称"公司"）于 2026 年 1 月 31 日在巨潮资讯网（www.cninfo.com.cn）披露了《关于公司控股股东、 实际控制人、董事长兼总经理之一致行动人增持公司股份计划的公告》（公告编 号：2026-011）。公司控股股东、实际控制人、董事长兼总经理张志江先生之一 致行动人骆笑英女士计划自 2026 年 1 月 30 日起 6 个月内，以自有或自筹资金通 过二级市场以集中竞价或大宗交易的方式增持公司股份，拟增持金额合计不低于 人民币 2,000 万元且不超过人民币 3,000 万元。 2．增持计划实施结果：自 2026 年 2 月 27 日至 2026 年 3 月 9 日期间，骆笑 英女士通过深圳证券交易所集中竞价和大宗交易的方式累计增持公司 A 股股份 895,500 股，占公司总股本比例 0.63%，累计增持金额为人民币 29,996,871.00（不 含交易费用），本次增持计划实施完毕。 3．权益变动结果：本次增持计划实施完毕后，公司控股股东、实际控制人、 董事长兼总 ...

北京市中伦（广州）律师事务所 关于广东绿通新能源电动车科技股份有限公司 控股股东及实际控制人一致行动人增持公司股份的 专项核查意见 二〇二六年三月 北京市中伦（广州）律师事务所 关于广东绿通新能源电动车科技股份有限公司 控股股东及实际控制人一致行动人增持公司股份的 专项核查意见 致：广东绿通新能源电动车科技股份有限公司 北京市中伦（广州）律师事务所（以下简称"本所"）接受广东绿通新能源电 动车科技股份有限公司（以下简称"公司"）的委托，根据《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》（以下简称"《证 券法》"）、《上市公司收购管理办法》（以下简称"《收购管理办法》"）等相 关法律、法规及规范性文件的规定，就控股股东及实际控制人张志江先生之一致 行动人骆笑英女士（以下简称"增持人"）增持公司股份（以下简称"本次增持"） 事宜出具本专项核查意见。 为出具本法律意见书，本所及本所律师特作如下声明： 1. 本所及本所律师对本专项核查意见所涉及的有关事实的了解，依赖于公 司及增持人向本所及本所律师所做陈述、说明或声明及所提供文件资料。本所及 本所律师已得到公司及增持人的如下保证：公司及 ...

证券代码：301322 证券简称：绿通科技 公告编号：2026-017 广东绿通新能源电动车科技股份有限公司 关于部分首次公开发行前已发行股份上市流通提示性公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 2023 年 5 月 25 日，公司实施 2022 年度利润分配暨资本公积转增股本方案： 以公司总股本 69,933,799 股为基数，向全体股东每 10 股派发现金 9.00 元（含税）， 合计派发现金股利 62,940,419.10 元（含税）；同时以资本公积向全体股东每 10 股转增 5 股，合计转增 34,966,899 股。转增后公司总股本由 69,933,799 股变更为 104,900,698 股。 2023 年 9 月 6 日，公司首次公开发行网下配售限售股份上市流通，股份数 量为 1,355,367 股，占当时总股本的比例为 1.29%，具体情况见公司于 2023 年 9 月 4 日在巨潮资讯网（www.cninfo.com.cn，下同）披露的《关于首次公开发行网 下配售限售股份上市流通提示性公告》（公告编号：2023-055）。 20 ...

兴业证券股份有限公司 关于广东绿通新能源电动车科技股份有限公司 部分首次公开发行前已发行股份上市流通的核查意见 兴业证券股份有限公司（以下简称"兴业证券"或"保荐机构"）作为广东 绿通新能源电动车科技股份有限公司（以下简称"绿通科技"或"公司"）首次 公开发行股票并在创业板上市的保荐机构，根据《证券发行上市保荐业务管理办 法》《深圳证券交易所上市公司自律监管指引第 13 号——保荐业务》《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》等有关规定，对绿通科技部分首次公开发行前已 发行股份上市流通的相关事项进行核查，具体如下： 一、首次公开发行前已发行股份概况及上市后股本变动情况 根据中国证券监督管理委员会（以下简称"中国证监会"）《关于同意广东绿 通新能源电动车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 〔2022〕2678 号），公司首次公开发行人民币普通股（A 股）股票 17,490,000 股， 并于 2023 年 3 月 6 日在深圳证券交易所创业板上市。首次公开发行股票完成后 公司总股本为 69,933,799 股，其中有流 ...