Core Viewpoint - On September 19, a total of 8 listed companies had their restricted shares unlocked, with a total market value of approximately 6.228 billion yuan [1] Group 1: Company Specifics - Xingxing Technology (Stock Code: 300256) had 625 million shares unlocked, categorized as "Other" [1] - Haitong Development (Stock Code: 603162) had 957,900 shares unlocked, categorized as "Equity Incentive Restricted Circulation" [1] - Tianyi Ma (Stock Code: 301178) had 256,000 shares unlocked, also under "Equity Incentive Restricted Circulation" [1] - Zhejiang Zhengte (Stock Code: 001238) had 76.9215 million shares unlocked, categorized as "Pre-Issue Shares Restricted Circulation" [1] - Huabao New Energy (Stock Code: 301327) had 20.0958 million shares unlocked, also under "Pre-Issue Shares Restricted Circulation" [1] - Qianwei Yangchu (Stock Code: 001215) had 21,100 shares unlocked, categorized as "Equity Incentive Restricted Circulation" [1] - Xinbo Co., Ltd. (Stock Code: 003038) had 663,300 shares unlocked, also under "Equity Incentive Restricted Circulation" [1] - Debang Technology (Stock Code: 688035) had 53.4224 million shares unlocked, with no specific category mentioned [1]

Summary of Key Points Core Viewpoint - On September 19, a total of 12 companies had their restricted shares unlocked, with a total unlock volume of 472 million shares, amounting to a market value of 10.633 billion yuan based on the latest closing prices [1]. Unlock Volume - Five companies had unlock volumes exceeding 10 million shares, with China Merchants Heavy Industry, Zhejiang Zhengte, and Debang Technology leading the list with unlock volumes of 299 million shares, 71.4146 million shares, and 53.4224 million shares respectively [1]. Unlock Market Value - Five companies had unlock market values exceeding 100 million yuan, with Zhejiang Zhengte, Debang Technology, and China Merchants Heavy Industry having market values of 3.51 billion yuan, 2.817 billion yuan, and 2.01 billion yuan respectively [1]. Unlock Ratio - Four companies had unlock ratios exceeding 10% of their total share capital, with Zhejiang Zhengte, Debang Technology, and Huabao New Energy leading with unlock ratios of 64.92%, 37.56%, and 16.13% respectively [1].

Core Viewpoint - Huabao New Energy has launched a new stock incentive plan aimed at binding the core team and focusing on revenue growth, maintaining a "Buy" rating [1] Group 1: Stock Incentive Plan - The company has introduced a restricted stock incentive plan for 2025, which emphasizes the commitment of the core team and reflects growth confidence [1] - The target is to achieve a compound annual growth rate (CAGR) of approximately 40% in revenue from 2025 to 2027 [1] Group 2: Product Development and Market Focus - The company plans to continue utilizing CTB technology to launch larger capacity products and mobile energy storage solutions [1] - Attention is drawn to the expected ramp-up of new mobile energy storage products in 2026 and the ongoing product cycle [1] Group 3: Profitability and Margin Improvement - It is suggested to monitor the impact of capacity migration and the increase in the proportion of high-margin new products, which are expected to drive margin recovery in 2026 [1] - The flexibility in expense ratios is also highlighted as a factor to watch [1]

Core Viewpoint - The announcement details the lifting of restrictions on a portion of shares of Shenzhen Huabao New Energy Co., Ltd., allowing 28,134,167 shares, which account for 16.13% of the total share capital, to be listed for trading on September 19, 2025 [2][4][9]. Group 1: Shareholder Information - The shareholders involved in the lifting of restrictions are three entities: Jia Meisheng, Jia Meihui, and Cheng Qianyi, which are associated with the company's actual controllers and senior management [2][3][9]. - The total number of shareholders participating in the lifting of restrictions is three, with a total of 28,134,167 shares being released [14]. Group 2: Share Structure and Issuance - The company completed its initial public offering (IPO) on September 19, 2022, issuing 24,541,666 shares, resulting in a total share capital of 96,000,000 shares, of which 72,725,595 shares were subject to trading restrictions [5][6]. - As of the announcement date, the total share capital of the company is 174,381,356 shares, with 126,232,167 shares under trading restrictions, representing 72.39% of the total [8][9]. Group 3: Compliance and Commitments - The shareholders lifting the restrictions have adhered to their commitments made during the IPO, ensuring no violations of the relevant laws and regulations regarding share transfers [10][12][13]. - The actual controllers and senior management have voluntarily extended their lock-up period until March 19, 2026, to maintain market stability [15][16].

Investment Rating - The investment rating for the company is "Buy" (maintained) [2][7] Core Insights - The company has launched a new stock incentive plan aimed at binding the core team and focusing on revenue growth, with a target compound annual growth rate (CAGR) of approximately 40% for revenue from 2025 to 2027. The projected net profits for 2025, 2026, and 2027 are estimated at 384 million, 596 million, and 772 million yuan respectively, with corresponding earnings per share (EPS) of 2.20, 3.42, and 4.43 yuan [7][8] - The company is expected to benefit from an increase in market share due to a faster product launch cycle and the introduction of differentiated new products, particularly in the mobile home storage segment, which is anticipated to see significant volume growth in 2026 [9] Financial Summary - The company's total revenue is projected to grow from 2,314 million yuan in 2023 to 9,367 million yuan in 2027, reflecting a year-on-year growth rate of 25.1% in 2027 [11][14] - The gross profit margin is expected to stabilize around 42.3% by 2027, with net profit margins improving from -7.5% in 2023 to 8.2% in 2027 [11][14] - The price-to-earnings (P/E) ratio is projected to decrease from -65.7 in 2023 to 14.8 in 2027, indicating an improving valuation as profitability increases [11][14]

Core Viewpoint - The company emphasizes the importance of building digital operational capabilities and has significantly optimized its operational efficiency through the introduction of AI tools in various areas [1] Group 1: Digital Transformation - The company is focusing on enhancing its digital operational capabilities by integrating AI tools [1] - AI has improved operational efficiency in user insights, content generation, platform operations, promotional investments, and intelligent customer service [1] Group 2: Research and Development - AI's advanced computational and data analysis capabilities allow R&D personnel to quickly explore new materials and technologies [1] - This leads to the design of products that better meet market demands, effectively increasing R&D efficiency [1] Group 3: Product Application - AI algorithms can intelligently adjust the charging speed of energy storage products, extending battery cycle life [1] - The technology enables smart management of household electricity, allowing for precise monitoring and allocation of individual devices [1] - This fine-tuned management helps users effectively save on electricity costs [1]

证券代码：301327 证券简称：华宝新能 公告编号：2025-049 深圳市华宝新能源股份有限公司 关于首次公开发行前已发行的部分股份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、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 1.本次解除限售的股份为深圳市华宝新能源股份有限公司（以下简称"公司"） 首次公开发行前已发行的部分股份。 2.本次解除限售股东户数共计3户，解除限售股份的数量为28,134,167股，占公司 总股本的16.1337%，限售期为自公司首次公开发行并上市之日起36个月。 3.本次解除限售股东为深圳市嘉美盛企业管理合伙企业（有限合伙）（以下简称 "嘉美盛"）、深圳市嘉美惠企业管理咨询合伙企业（有限合伙）（以下简称"嘉美 惠"）、深圳市成千亿企业管理咨询合伙企业（有限合伙）（以下简称"成千亿"）。 公司实际控制人、董事、监事、高级管理人员及核心技术人员等通过嘉美盛、嘉美惠 及成千亿间接持有的公司股份，根据其相关股份锁定期的安排及承诺，已自愿延长锁 定期至2026年3月19日。 公司股东嘉美盛、嘉美惠与公司实际控制人孙中伟先生、温美婵女士以及公司控 股股东深圳市钜宝 ...

核查意见 华泰联合证券有限责任公司 关于深圳市华宝新能源股份有限公司 首次公开发行前已发行的部分股份上市流通的核查意见 华泰联合证券有限责任公司（以下简称"保荐机构"）作为深圳市华宝新能 源股份有限公司（以下简称"华宝新能"或"公司"）首次公开发行股票并在创 业板上市及进行持续督导的保荐机构，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》等相关法律、法规和规范性文件的要 求，对华宝新能首次公开发行前已发行的部分股份上市流通进行了审慎核查，并 出具本核查意见。核查情况如下： 一、首次公开发行前已发行股份概况 （一）首次公开发行股份情况 根据中国证券监督管理委员会《关于同意深圳市华宝新能源股份有限公司首 次公开发行股票注册的批复》（证监许可〔2022〕1175 号），公司首次公开发行人 民币普通股（A 股）股票 24,541,666 股，并于 2022 年 9 月 19 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 96,000,000 股，其中有流 通限制及限售安排的股份数量 72,72 ...

Group 1 - The core point of the article is that Huatai United Securities has conducted a review of the pre-IPO share circulation for Huabao New Energy, confirming compliance and the absence of violations by shareholders [1] - As of now, the total share capital of the company is 174 million shares, with 126 million shares being restricted, accounting for 72.39% of the total [1] - A total of 28.1342 million restricted shares, representing 16.13% of the total, will be released for circulation on September 19, with a lock-up period of 36 months [1] Group 2 - After the release of restricted shares, the number of restricted shares will decrease to 98.098 million, accounting for 56.25%, while the number of unrestricted shares will increase to 76.2834 million, accounting for 43.75% [1] - The sponsoring institution believes that the application for the release of shares is compliant, and the shareholders have fulfilled their commitments, with accurate and complete information disclosure [1]

Group 1 - The core viewpoint of the news is the performance and market position of Huabao New Energy, which saw a stock price increase of 5.04% to 68.80 CNY per share, with a total market capitalization of 11.997 billion CNY [1] - Huabao New Energy specializes in the research, production, and sales of lithium battery storage products, with portable storage products accounting for 77.46% of its main business revenue [1] - The company was established on July 25, 2011, and went public on September 19, 2022, indicating its relatively recent entry into the public market [1] Group 2 - According to data, a fund under Bank of China holds Huabao New Energy as one of its top ten heavy positions, with 15,400 shares held, representing 0.72% of the fund's net value [2] - The fund, Zhongyin CSI 1000 Index Enhanced A, has achieved a year-to-date return of 30.43% and a one-year return of 71.96%, ranking 1483 out of 4222 and 1141 out of 3802 respectively [2] - The fund manager, Yao Jin, has been in position for 1 year and 279 days, with the best fund return during this period being 54.95% [3]