Market Performance - The general equipment sector increased by 2.03% on October 15, with Ding Tai Gao Ke leading the gains [1] - The Shanghai Composite Index closed at 3912.21, up 1.22%, while the Shenzhen Component Index closed at 13118.75, up 1.73% [1] Top Gainers in General Equipment Sector - Ding Tai Gao Ke (301377) closed at 72.61, up 11.71% with a trading volume of 122,000 shares and a transaction value of 867 million [1] - Rong Qi Ke Ji (301360) closed at 84.00, up 11.55% with a trading volume of 54,400 shares [1] - Mo Xin Yi Qi (688622) closed at 133.50, up 11.18% with a trading volume of less than 35,800 shares [1] - Wu Zhou Xin Chun (603667) closed at 45.55, up 10.00% with a trading volume of 561,900 shares and a transaction value of 2.506 billion [1] Market Capital Flow - The general equipment sector saw a net inflow of 225 million from institutional investors, while retail investors contributed a net inflow of 277 million [2] - However, there was a net outflow of 503 million from speculative funds [2] Individual Stock Capital Flow - Wu Zhou Xin Chun (603667) had a net inflow of 440 million from institutional investors, but a net outflow of 184 million from speculative funds [3] - Ding Tai Gao Ke (301377) experienced a net inflow of 76 million from institutional investors, with a net outflow of 82 million from retail investors [3] - Teng Da Ke Ji (001379) had a significant net inflow of 111 million from institutional investors, while speculative funds saw a net outflow of 63 million [3]

Core Insights - The stock of Kaichuang Electric increased by 5.11%, reaching 54.75 CNY per share, with a total market capitalization of 5.694 billion CNY as of October 15 [1] Company Overview - Kaichuang Electric, established on December 28, 2015, is located in Jinhua City, Zhejiang Province. The company specializes in the research, design, production, sales, and trade of handheld electric tools and core components [1] - The main business revenue composition is 99.46% from electric tools and 0.54% from other businesses [1] Shareholder Information - Noan Fund's Noan Multi-Strategy Mixed A (320016) entered the top ten circulating shareholders of Kaichuang Electric in the second quarter, holding 420,400 shares, which is 0.88% of the circulating shares [2] - The estimated floating profit for Noan Multi-Strategy Mixed A from this investment is approximately 1.1183 million CNY [2] Fund Performance - Noan Multi-Strategy Mixed A has a total asset size of 1.399 billion CNY, with a year-to-date return of 61.5%, ranking 305 out of 8161 in its category [2] - Over the past year, the fund achieved a return of 85.65%, ranking 98 out of 8015 [2] - Since its inception, the fund has generated a return of 211.7% [2] Fund Manager Information - The fund managers of Noan Multi-Strategy Mixed A are Kong Xianzheng and Wang Haichang, with respective tenures of 4 years and 3 years [3] - Kong Xianzheng's best fund return during his tenure is 76.21%, while the worst is -16.74% [3] - Wang Haichang's best fund return is 63.81%, with the worst being -18.8% [3] Fund Holdings - Noan Multi-Strategy Mixed A holds 420,400 shares of Kaichuang Electric, representing 0.43% of the fund's net value, making it the tenth largest holding [4] - The estimated floating profit from this position is also approximately 1.1183 million CNY [4]

Group 1 - The company, Kaichuang Electric (301448), reported that as of October 10, 2025, the total number of shareholders is 6,099 [1]

Core Viewpoint - The company, Zhejiang Kaichuang Electric Co., Ltd., is experiencing a decline in stock price and revenue, while also benefiting from its international sales and product development in the lithium battery sector. Group 1: Company Performance - On October 13, the company's stock fell by 2.05%, with a trading volume of 120 million yuan and a market capitalization of 5.562 billion yuan [1] - For the first half of 2025, the company reported a revenue of 290 million yuan, a year-on-year decrease of 16.62%, and a net profit attributable to shareholders of -15.4238 million yuan, a year-on-year decrease of 143.84% [7] - The company has distributed a total of 67.12 million yuan in dividends since its A-share listing [8] Group 2: Market Position and Recognition - The company has developed 20 new lithium battery products in 2023, gaining recognition from clients such as Bosch and Harbor Freight Tools, with lithium battery sales currently accounting for less than 10% of total revenue, indicating significant growth potential [2][3] - The company has been recognized as a "specialized, refined, distinctive, and innovative" small giant enterprise, which is a prestigious title for small and medium-sized enterprises in China [2] Group 3: International Sales and E-commerce - As of the 2024 annual report, the company's overseas revenue accounted for 91.85%, benefiting from the depreciation of the RMB [3] - The company has been expanding its e-commerce business since 2018, establishing cross-border e-commerce companies in Jinhua, Hangzhou, and Shenzhen, with online sales revenue increasing by 58.64% year-on-year in 2024 [3] Group 4: Stock and Trading Analysis - The average trading cost of the stock is 55.83 yuan, with recent chip reduction slowing down; the current stock price is between resistance at 65.25 yuan and support at 30.11 yuan, suggesting potential for range trading [6] - The main capital flow shows a net outflow of 7.2582 million yuan today, with a continuous reduction in main capital over the past two days [4][5]

Group 1 - The core point of the article is that Kaichuang Electric (SZ 301448) announced the convening of its third board meeting via telecommunication on October 10, 2025, to review the proposal regarding the cancellation of unvested restricted stock from the 2024 incentive plan [1] - For the first half of 2025, Kaichuang Electric's revenue composition shows that electric tools accounted for 99.46% of total revenue, while other businesses contributed 0.54% [1] - As of the time of reporting, Kaichuang Electric has a market capitalization of 5.7 billion yuan [1]

证券代码：301448 证券简称：开创电气 公告编号：2025-055 浙江开创电气股份有限公司 第三届董事会第四次会议决议公告 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。 一、董事会会议召开情况 浙江开创电气股份有限公司（以下简称"公司"）第三届董事会第四次会议通 知于 2025 年 9 月 30 日通过书面送达或电子邮件方式向全体董事发出，会议于 2025 年 10 月 10 日以通讯表决的方式召开。本次会议由董事长吴宁先生召集并主持，应 出席董事 9 人，实际出席董事 9 人。全体高级管理人员列席了本次会议。 本次会议的召集、召开符合《中华人民共和国公司法》等相关法律及《公司章 程》的规定，会议决议合法、有效。 二、董事会会议审议情况 经与会董事充分审议，以记名投票方式表决并通过如下决议： （一）审议通过《关于调整 2024 年限制性股票激励计划授予价格的议案》 鉴于公司 2024 年度权益分派方案已实施完毕，根据《上市公司股权激励管理 办法》、公司《2024 年限制性股票激励计划（草案）》《2024 年限制性股票激励 计划实施考核管理办法》等相关规 ...

浙江开创电气股份有限公司 关于作废 2024 年限制性股票激励计划部分已授予但尚未归属 的限制性股票的公告 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。 证券代码：301448 证券简称：开创电气 公告编号：2025-058 浙江开创电气股份有限公司（以下简称"公司"或"开创电气"）于 2025 年 10 月 10 日召开了第三届董事会第四次会议审议通过了《关于作废 2024 年限制性股 票激励计划部分已授予但尚未归属的限制性股票的议案》，董事会同意作废 2024 年限制性股票激励计划（以下简称"本次激励计划"）部分已授予但尚未归属的限 制性股票。现将有关事项公告如下： 一、本次激励计划已履行的相关审批程序 1、2024 年 9 月 10 日，公司召开第二届董事会第二十三次会议，审议通过了《关 于<浙江开创电气股份有限公司 2024 年限制性股票激励计划（草案）>及摘要的议 案》《关于<浙江开创电气股份有限公司 2024 年限制性股票激励计划实施考核管理 办法>的议案》《关于提请公司股东大会授权董事会全权办理 2024 年限制性股票激 励计划有关事项的议案》 ...

1、本次符合归属条件的激励对象人数：27 人； 2、本次拟归属的限制性股票数量：60.00 万股； 3、归属股票来源：向激励对象定向发行的公司 A 股普通股股票； 4、本次归属的限制性股票待相关手续办理完成后，公司将发布相关上市流通 的公告，敬请投资者关注。 证券代码：301448 证券简称：开创电气 公告编号：2025-057 浙江开创电气股份有限公司 关于 2024 年限制性股票激励计划首次授予部分 第一个归属期归属条件成就的公告 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。 重要提示： 1、本激励计划股份来源：向激励对象定向发行的公司 A 股普通股股票。 2、本激励计划的激励数量：本激励计划拟向激励对象授予 362.00 万股限制性 股票，约占本激励计划草案公告时公司股本总额 10,400.00 万股的 3.48%。其中：首 次授予 290.00 万股，占本计划拟授予权益总数的 80.11%，占本计划公告时公司股 本总额的 2.79%；预留 72.00 万股，占本计划拟授予权益总数的 19.89%，占本计划 公告时公司股本总额的 0.69%。 3、本激 ...

浙江开创电气股份有限公司 （1）最近 12 个月内被证券交易所认定为不适当人选； （2）最近 12 个月内被中国证券监督管理委员会及其派出机构认定为不适当人 选； （3）最近 12 个月内因重大违法违规行为被中国证监会及其派出机构行政处罚 或者采取市场禁入措施； （4）具有《公司法》规定的不得担任公司董事、高级管理人员情形的； （5）法律法规规定不得参与上市公司股权激励的； （6）中国证监会认定的其他情形。 本次激励计划首次授予激励对象中有 2 人离职，不再具备激励对象资格，已获 授予但尚未归属的 40.00 万股限制性股票不得归属，由公司作废；2 名激励对象 2024 年度所在经营单元层面考核结果为"一般"，经营单元层面的归属比例为 0%，其 第一个归属期拟归属的 12.00 万股限制性股票不得归属，由公司作废；1 名激励对 象 2024 年度个人层面绩效考核评价结果为"D"，个人层面的归属比例为 50%， 其第一个归属期拟归属的 6.00 万股限制性股票中 50%（即 3.00 万股）不得归属， 由公司作废。 董事会独立董事专门会议关于 2024 年限制性股票激励计划首 次授予部分第一个归属期归属名单、授 ...

2024 年限制性股票激励计划调整授予价格、 首次授予部分第一个归属期符合归属条件 及作废部分限制性股票的 国浩律师（杭州）事务所 法律意见书 国浩律师（杭州）事务所 关 于 浙江开创电气股份有限公司 法律意见书 地址：杭州市上城区老复兴路白塔公园 B 区 2 号、15 号国浩律师楼 邮编：310008 Grandall Building, No.2＆No.15, Block B, Baita Park, Old Fuxing Road, Hangzhou, Zhejiang 310008, China 电话/Tel: (+86)(571) 8577 5888 传真/Fax: (+86)(571) 8577 5643 电子邮箱/Mail：grandallhz@grandall.com.cn 网址/Website：http://www.grandall.com.cn 二〇二五年十月 国浩律师（杭州）事务所 法律意见书 国浩律师（杭州）事务所 浙江开创电气股份有限公司 2024 年限制性股票激励计划调整授予价格、首次授予部分 第一个归属期符合归属条件及作废部分限制性股票的 法律意见书 致：浙江开创电气股份有限公司 ...