Group 1 - The company has a diverse customer base in various sectors, including special equipment, rail transportation, aerospace, energy and power, steel metallurgy, new energy vehicles, third-party testing organizations, and higher education institutions [1] - The company's products are specifically designed to provide targeted services for oil and metal probe companies [1] - The company appreciates investor interest and engagement regarding its product applications [1]

Core Viewpoint - Duople is a leading enterprise in the domestic ultrasonic phased array testing equipment sector, demonstrating strong profitability and growth potential in the non-destructive testing industry [1] Company Performance - In H1 2025, the company achieved revenue of 80 million yuan, representing a year-on-year growth of 56.2% [1] - The net profit attributable to the parent company reached 20 million yuan, with a year-on-year increase of 12.15% [1] - The company's gross profit margin has maintained above 70% from 2020 to 2024, positioning it at the upstream of the industry [1] Industry Outlook - The non-destructive testing industry is rapidly developing, with significant potential for domestic substitution of imports [1] - The establishment of industry standards is driving demand for the replacement of testing methods, opening up growth opportunities for phased array testing [1] - The company's strong technical barriers and the expansion of medical and automation demands are expected to create a second growth point for the company [1] Investment Rating - The company is rated as a "buy" based on its strong technology and profitability, along with the broad market space in non-destructive testing, indicating expectations for sustained stable growth in performance [1]

Core Insights - The company is a leading domestic provider of ultrasonic phased array testing equipment, demonstrating strong profitability and growth potential in the non-destructive testing (NDT) industry [1][3] Group 1: Company Performance - In H1 2025, the company achieved revenue of 80 million yuan, a year-on-year increase of 56.2%, and a net profit attributable to shareholders of 20 million yuan, up 12.15% year-on-year [1] - The company's gross margin has consistently remained above 70% from 2020 to 2024, positioning it at the upstream of the industry [1] Group 2: Industry Growth Potential - The ultrasonic testing market is projected to grow from 2.92 billion USD in 2024 to 4.60 billion USD by 2029, with a compound annual growth rate (CAGR) of 9.5% [1] - The global NDT market is expected to expand from approximately 11.6 billion USD in 2024 to 18.4 billion USD by 2029, with ultrasonic testing expected to capture the largest market share [1] Group 3: Technological Advancements - The establishment of industry standards, such as "Non-destructive Testing of Pressure Equipment Part 15: Phased Array Ultrasonic Testing," is expected to drive the adoption of phased array testing in specialized equipment sectors [2] - Phased array technology offers advantages over traditional ultrasonic testing, including broader application range, lower missed detection rates, and clearer defect visualization, making it likely to gradually replace traditional methods [2] Group 4: Future Growth Drivers - The company has a strong R&D capability, holding 66 patents and participating in the formulation of multiple national and industry standards, which supports its competitive edge against international products [3] - The establishment of a wholly-owned subsidiary, Duople Medical, aims to enhance product development and customer outreach in the medical sector, while increasing demand for automation equipment is expected to boost overall profitability [3] Group 5: Investment Outlook - The company is rated as a "buy" due to its strong technology and profitability, with expectations for continued stable growth in performance [3] - Projected net profits for 2025, 2026, and 2027 are estimated at 90 million, 130 million, and 170 million yuan, respectively, with corresponding earnings per share (EPS) of 1.50, 2.10, and 2.74 yuan [3]

Group 1: Macro Insights - In September, exports increased significantly, reaching a six-month high, indicating the resilience of China's export sector. The export growth rate for Q3 was 6.5%, slightly higher than in Q1 and Q2, supporting the GDP growth target of "above 5%" for the year [2] - Imports surged by 7.4% year-on-year in September, marking the highest increase in a year and a half, with industrial metals like copper and iron ore, as well as integrated circuits, being the main drivers [2] - Looking ahead to Q4, export growth may slow due to high base effects and recent escalations in US-China tariffs, but it is expected to remain positive overall, with strong support from regions outside the US [2] Group 2: Company-Specific Insights - Duople (301528.SZ) is a leading domestic provider of ultrasonic phased array testing equipment, showing strong profitability with H1 2025 revenue of 80 million yuan, up 56.2% year-on-year, and a net profit of 20 million yuan, up 12.15% [6][7] - Kaishan (300257.SZ) is a leader in high-end equipment manufacturing and renewable energy, with a revenue of 4.235 billion yuan in 2024, a 1.64% increase, and a net profit of 320 million yuan, down 26.05% [8] - 361 Degrees (01361.HK) reported strong Q3 performance with a 10% increase in adult and children's apparel sales in offline channels and a 20% increase in e-commerce sales, projecting net profits of 1.261 billion yuan for 2025 [14] - Xingyu (601799.SH) established a robotics subsidiary to expand into the emerging robotics sector, while maintaining strong growth in its core automotive lighting business, with a projected net profit of 1.7 billion yuan for 2025 [16][17] Group 3: Industry Trends - The basic chemical sector is experiencing a configuration opportunity, with a significant adjustment in the index from a peak of 9565.18 points to a low of 3876.11 points, a cumulative decline of 59.5% [12] - Strategic metals are expected to see a revaluation due to geopolitical tensions, with a focus on rare earths, tungsten, and antimony as potential investment opportunities [9][11] - The liquid cooling market is anticipated to grow, with East Sunshine's acquisition of Qinhuai Data expected to enhance its capabilities in AI infrastructure and cooling solutions [13]

证券代码：301528 证券简称：多浦乐 公告编号：2025-059 广州多浦乐电子科技股份有限公司 第二届董事会第二十二次会议决议公告 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 广州多浦乐电子科技股份有限公司（以下简称"公司"）第二届董 事会第二十二次会议通知于 2025 年 10 月 6 日以通讯方式送达全体董事。 会议于 2025 年 10 月 10 日在公司会议室以现场及通讯表决相结合的方式 召开。会议应出席的董事 7 人，实际出席的董事 7 人，本次会议由董事 长蔡庆生先生召集并主持，公司监事、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、 法规以及《公司章程》的规定，会议合法、有效。 二、董事会会议审议情况 1、审议通过了《关于调整 2025 年限制性股票激励计划激励对象名 单的议案》 根据《上市公司股权激励管理办法》《2025 年限制性股票激励计划 （草案）》等的相关规定以及公司 2025 年第二次临时股东大会的授权， 公司拟对 2025 年限制性股票激励计划（以下简称"本 ...

关于向 2025 年限制性股票激励计划激励对象 授予限制性股票的公告 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。 重要内容提示： 广州多浦乐电子科技股份有限公司（以下简称"公司"）2025 年限制 性股票激励计划（以下简称"本激励计划"）规定的限制性股票授予条件已 成就，根据公司 2025 年第二次临时股东大会的授权，公司于 2025 年 10 月 10 日召开第二届董事会第二十二次会议、第二届监事会第二十二次会议， 审议通过了《关于向 2025 年限制性股票激励计划激励对象授予限制性股票 的议案》，同意确定本激励计划限制性股票授予日为 2025 年 10 月 10 日， 并向符合授予条件的 72 名激励对象共计授予 92.00 万股限制性股票，授予 价格为 30.55 元/股，现将有关事项说明如下： 一、本激励计划简述 2025 年 9 月 29 日，公司召开 2025 年第二次临时股东大会，审议通过 股权激励方式：第二类限制性股票 限制性股票授予日：2025 年 10 月 10 日 限制性股票授予数量：92.00 万股 限制性股票授予价格：30.55 ...

证券代码：301528 证券简称：多浦乐 公告编号：2025-061 广州多浦乐电子科技股份有限公司 关于调整 2025 年限制性股票激励计划 激励对象名单的公告 证券代码：301528 证券简称：多浦乐 公告编号：2025-061 （三）2025 年 9 月 11 日，公司召开第二届董事会第二十一次会议，审 议通过了《关于公司<2025 年限制性股票激励计划（草案）>及其摘要的议 案》《关于公司<2025 年限制性股票激励计划实施考核管理办法>的议案》 《关于提请股东大会授权董事会办理 2025 年限制性股票激励计划相关事 宜的议案》等议案。律师出具了相应的法律意见书。 同日，公司召开第二届监事会第二十一次会议，审议通过了《关于公司 <2025 年限制性股票激励计划（草案）>及其摘要的议案》《关于公司<2025 年限制性股票激励计划实施考核管理办法>的议案》《关于公司〈2025 年限 制性股票激励计划激励对象名单>的议案》。 （四）2025 年 9 月 12 日至 2025 年 9 月 22 日，公司对本激励计划激励 对象的姓名及职务进行了公示。公示期满，公司监事会未收到任何异议。 公司于 2025 年 9 ...

广州多浦乐电子科技股份有限公司 提名、薪酬与考核委员会关于 2025 年限制性股票激励计划 调整激励对象名单事项及授予事项的核查意见 广州多浦乐电子科技股份有限公司（以下简称"公司"）第二届董事会 提名、薪酬与考核委员会 2025 年第三次会议就公司 2025 年限制性股票激 励计划（以下简称"本激励计划"）调整激励对象名单事项及授予事项发表 如下审核意见： 一、2025 年限制性股票激励计划调整激励对象名单事项核查意见 经审议，提名、薪酬与考核委员会认为：公司对本激励计划激励对象 名单的调整符合《2025 年限制性股票激励计划（草案）》（以下简称"《激 励计划（草案）》"）的有关规定，符合相关法律法规及《上市公司股权激励 管理办法》（以下简称"《管理办法》"）等相关规定，本次调整事项在公司 2025 年第二次临时股东大会的授权范围内，调整程序合法、合规，不存在 损害公司及全体股东利益的情形。 二、2025 年限制性股票激励计划授予事项核查意见 （一）授予条件是否成就核查意见 1、公司不存在《管理办法》等规定的禁止实施股权激励计划的情形， 公司具备实施股权激励计划的主体资格。 2、获授限制性股票的激励对象具备 ...

广东信德盛律师事务所 关于广州多浦乐电子科技股份有限公司 2025 年限制性股票激励计划调整及授予相关事项 之 法 律 意 见 书 广东信德盛律师事务所 http://www.lawyersxds.com/ 广东省广州市天河区天河北路 235 号广州环贸中心 4602 | X | | | --- | --- | | E | 文 | | 一、本次调整及本次授予的批准与授权 | | | 二、本次调整的具体内容 | | | 三、本次授予的授予日 | | | 四、本次授予的授予条件 | | | 五、本次授予的对象、数量和价格 . | | | 六、本次授予的信息披露 . | | | 七、结论 ... | . . . 9 | 广东信德盛律师事务所 释 义 本法律意见书中，除非另有说明，下列词语或简称具有如下含义： | 公司/上市公司/多浦 | 指 | 广州多浦乐电子科技股份有限公司 | | --- | --- | --- | | 乐 | | | | 中国、境内 | 指 | 中华人民共和国大陆地区（为本法律意见书之目的，不包 | | | | 括香港特别行政区、澳门特别行政区及台湾地区） | | 证监会 | 指 | 中国证券 ...

2、最近 12 个月内被证券交易所认定为不适当人选； （二）本激励计划授予的激励对象包括董事、高级管理人员以及公司 其他核心技术及业务人员，不包括独立董事、监事、单独或合计持有公司 5%以上股份的股东或实际控制人及其配偶、父母、子女以及外籍员工。激 励对象基本情况属实，不存在虚假、故意隐瞒或致人重大误解之处。 （三）激励对象不存在以下不得成为激励对象的情形： 1、最近 12 个月内被中国证监会及其派出机构认定为不适当人选； 广州多浦乐电子科技股份有限公司 监事会关于 2025 年限制性股票激励计划 授予激励对象名单的核查意见 广州多浦乐电子科技股份有限公司（以下简称"公司"）监事会依据《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》 《上市公司股权激励管理办法》（以下简称"《管理办法》"）、《深圳证券交 易所创业板股票上市规则》（以下简称"《上市规则》"）、《深圳证券交易所 创业板上市公司自律监管指南第 1 号—业务办理》《广州多浦乐电子科技股 份有限公司章程》等有关规定，对 2025 年限制性股票激励计划（以下简称 "本激励计划"）授予激励对象名单进行核查，发表核查意见如下： ...