一、监事会会议召开情况 湖南崇德科技股份有限公司（以下简称"公司"）第二届监事会第九次会议通 知于 2025 年 2 月 7 日以电子邮件、微信的方式送达，会议于 2025 年 2 月 12 日 以传真表决的方式召开，本次会议应参加表决监事 3 人，实际参加表决监事 3 人。会议的出席人数、召集召开程序、议事内容符合《中华人民共和国公司法》 （以下简称"《公司法》"）和《湖南崇德科技股份有限公司章程》（以下简称"《公 司章程》"）的有关规定。 证券代码：301548 证券简称：崇德科技 公告编号：2025-005 湖南崇德科技股份有限公司 第二届监事会第九次会议决议公告 本公司及监事会全体成员保证公告内容的真实、准确和完整，不存在虚假记载、误导 性陈述或重大遗漏。 二、监事会会议审议情况 经与会监事认真讨论并表决，审议并通过如下议案： 1、会议以 3 票同意，0 票反对，0 票弃权审议通过了《关于使用部分超募资 金永久补充流动资金的议案》，该议案需提交公司股东大会审议。 监事会认为：公司本次使用部分超募资金永久性补充流动资金不会与募集资 金投资项目实施计划相抵触，不影响募集资金投资项目的正常进行，也不存在变 ...

第二届董事会第十次会议决议公告 证券代码：301548 证券简称：崇德科技 公告编号：2025-004 湖南崇德科技股份有限公司 本公司及董事会全体成员保证公告内容的真实、准确和完整，不存在虚假记载、误导 性陈述或重大遗漏。 一、董事会会议召开情况 湖南崇德科技股份有限公司（以下简称"公司"）第二届董事会第十次会议通 知于 2025 年 2 月 7 日以电子邮件、微信的方式送达，会议于 2025 年 2 月 12 日 以传真表决的方式召开，本次会议应参加表决董事 9 人，实际参加表决董事 9 人。会议的出席人数、召集召开程序、议事内容符合《中华人民共和国公司法》 （以下简称"《公司法》"）和《湖南崇德科技股份有限公司章程》（以下简称"《公 司章程》"）的有关规定。 二、董事会会议审议情况 经与会董事认真讨论并表决，审议并通过如下议案： 1、会议以 9 票同意，0 票反对，0 票弃权审议通过了《关于使用部分超募资 金永久补充流动资金的议案》，该议案需提交公司股东大会审议。 具体内容请详见刊载于《证券时报》《中国证券报》《上海证券报》《证券 日报》和巨潮资讯网（http://www.cninfo.com.cn）上 ...

证券代码：301548 证券简称：崇德科技 公告编号：2025-002 以实施权益分派股权登记日登记的总股本为基数，每 10 股派发现金股利 2.80 元人民币（含税），预计派发现金股利 2,436.00 万元（含税）。本次利润 分配不进行资本公积转增股本，不送红股。若本次特别分红方案披露之日起至实 施权益分派股权登记日期间公司总股本或可参与分配的股本发生变动的，则以实 施分配方案时股权登记日的总股本为基数，公司将按照"现金分红分配比例固定 不变"的原则对现金分红总额进行调整。 2、自本次分配方案披露至实施期间，公司股本总额未发生变动。 3、本次实施的分配方案与公司 2025 年第一次临时股东大会审议通过的分配 方案及其调整原则是一致的。 4、本次实施分配方案距离公司 2025 年第一次临时股东大会审议通过的时间 未超过两个月。 二、本次实施的权益分派方案 公司2024年特别分红方案为：以公司现有总股本8 7 ,000,000股为基数，向全 体股东每 10 股派2.80元人民币现金（含税；扣税后，QFII、RQFII 以及持有首 发前限售股的个人和证券投资基金每10 股派2.52元；持有首发后限售股、股权 激 ...

证券代码：301548 证券简称：崇德科技 公告编号：2025-001 湖南崇德科技股份有限公司 2025 年第一次临时股东大会决议公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，不存在虚假记载、误导 性陈述或重大遗漏。 重要提示 1、本次股东大会未出现否决议案的情形。 一、会议召开情况 1、会议召开时间： 现场会议召开时间：2025 年 1 月 8 日 14:30 2、网络投票时间： 通过深圳证券交易所交易系统进行网络投票的时间为 2025 年 1 月 8 日 9:15 —9:25，9:30—11:30，13:00—15:00；通过深圳证券交易所互联网投票系统 （http://wltp.cninfo.com.cn）进行网络投票的时间为 2025 年 1 月 8 日 9:15 至 15:00 期间的任意时间。 3、现场会议召开地点：湖南省湘潭市高新区茶园路 9 号公司会议室。 4、会议召开方式：采取现场投票与网络投票相结合的方式。 6、会议主持人：董事长 周少华先生 2、本次股东大会不涉及以往股东大会已通过的决议。 5、会议召集人：公司董事会 7、会议召开的合法性、合规性：本次股东大会召开符合《中 ...

湖南启元律师事务所 关于湖南崇德科技股份有限公司 2025年第一次临时股东大会的 法律意见书 致：湖南崇德科技股份有限公司 湖南启元律师事务所（以下简称"本所"）接受湖南崇德科技股份有限公司（以 下简称"公司"）的委托，指派律师出席了公司 2025 年第一次临时股东大会（以下 简称"本次股东大会"），对本次股东大会的召集和召开程序、出席会议人员及召集 人的资格、表决程序和表决结果的合法有效性进行现场律师见证，并发表本法律 意见。 本所根据《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》"）、《上市公司股东大会规则》等我国现行法 律、法规、规范性文件以及《湖南崇德科技股份有限公司章程》（以下简称"《公 司章程》"）的有关规定出具本法律意见书。 为出具本法律意见书，本所及本所指派律师声明如下： （一）本所根据本法律意见书出具日以前已经发生或者存在的事实，严格履 行了法定职责，遵循了勤勉尽责和诚实信用原则，进行了充分的核查验证，保证 本法律意见所认定的事实真实、准确、完整，所发表的结论性意见合法、准确， 不存在虚假记载、误导性陈述或者重大遗漏，并承担相应法律责任。 ...

Company and Industry Summary Company Overview - The company was established in 2003 and has been operational for 24 years, focusing on the research and development of hydrodynamic oil film sliding bearings and related products [1][2][3]. Core Business Segments - The main business is divided into two segments: 1. **Hydrodynamic Oil Film Sliding Bearings**: This is the core product line, serving industries such as energy, petrochemicals, shipping, and industrial drives [2][6]. 2. **Sales and Distribution**: The company has a wholly-owned subsidiary that distributes transmission components for major global brands, enhancing synergy with the parent company [1][2]. Financial Performance - For the current year, the company expects revenue to remain flat, while the net profit excluding non-recurring items is projected to grow by a single-digit to nearly double-digit percentage [2][3]. - The company has faced challenges in the wind power sector, which significantly impacts its overall performance [2][3]. Industry Dynamics - The company operates in several key industries: - **Energy** - **Petrochemicals** - **Shipping** - **Industrial Drives** - These sectors are expected to remain influential globally, with the company aiming to be a comprehensive solution provider for transmission components and bearings [2][3][6]. Future Outlook - The company anticipates a stable growth rate of over 20% in its core segments, particularly in hydrodynamic oil film bearings and new product lines such as wind power sliding bearings and high-speed electric motors [6][7]. - The company is also focusing on expanding its market share in the nuclear power sector, with several significant orders already secured [16][17]. Investment and Shareholder Returns - The company plans to maintain a stable dividend policy, with a special dividend of approximately 24 million expected, representing 30-40% of the annual net profit [4][5]. - Future dividends are expected to be distributed twice a year, following the release of semi-annual and annual reports [4][5]. Challenges and Risks - The company faces competition from major players like SKF, which has been losing market share, leading to potential price adjustments [12][13]. - The high cost of SKF products poses a challenge for the company's distribution strategy, necessitating a focus on competitive pricing and product offerings [8][9]. R&D and Product Development - The company is actively engaged in R&D for new products, including high-precision bearings for semiconductor applications, which are expected to see significant growth [20][21]. - Plans to enhance production capabilities domestically are in place, with a focus on reducing costs and improving efficiency [22][23]. Conclusion - The company is positioned to leverage its strengths in the hydrodynamic oil film bearing market while navigating challenges in pricing and competition. The focus on R&D and strategic partnerships will be crucial for future growth and market expansion.

Group 1: Company Overview - The main products and services include dynamic pressure oil film sliding bearings, wind power sliding bearings, high-speed permanent magnet motor products, and industrial transmission services, focusing on energy generation, industrial drive, petrochemicals, and marine vessels [2] - The company’s sliding bearing products are widely used in major equipment and high-precision devices such as heavy gas turbines, large steam turbines, wind power generation equipment, efficient compressors, high-speed motors, pumps, and gearboxes, serving as critical basic components [2] Group 2: Development Strategy - The company has established a "one core, two wings" development strategy, where "one core" refers to industrial sliding bearings as the core industry, continuously improving product quality and manufacturing technology to achieve efficient and low-cost manufacturing advantages [2] - The "two wings" involve expanding into international markets and developing new product markets, accelerating international layout, and actively embracing emerging industries such as new energy and semiconductors [2] Group 3: Competitive Landscape - The dynamic pressure oil film sliding bearing industry has a relatively low overall market concentration, indicating a fragmented competitive landscape [2] Group 4: International Sales Performance - The company’s international business, including direct exports and supporting international clients in domestic factories, has maintained rapid growth in recent years [3][4] - In 2024, the company plans to establish a European center to enhance market share, with international customer sales showing positive performance and an increasing sales proportion [4]

Group 1: Company Overview - Hunan Chongde Technology Co., Ltd. was established in 2003 and focuses on the production of sliding bearings for various applications, including energy generation and industrial drives [1] - The company has acquired Levicron GmbH, enhancing its technological capabilities and market position [1] Group 2: Product Development - The company has been researching wind turbine gearbox sliding bearings for nearly ten years, with the second generation of laser-clad sliding bearings developed since 2020, with diameters ranging from φ 85 to φ 450 [2] - A fully automated digital workshop for the second generation of sliding bearings has been established, improving product reliability and reducing friction and wear [2] Group 3: Material Applications - PEEK material sliding bearings are designed for rotating machinery in closed environments, offering excellent wear resistance, mechanical properties, and high-temperature resistance [2] - These custom PEEK bearings are primarily used in energy generation, petrochemical industries, and equipment such as deep well pumps and gas turbines [2] Group 4: Investor Relations - The company conducted investor relations activities on November 11 and 12, 2024, including a tour of the company’s exhibition hall and workshops, and discussions with senior management [1] - All communications adhered to regulations, ensuring no undisclosed significant information was leaked during the investor interactions [2]

Investment Rating - Maintain "Overweight" rating [3] Core Views - The company plans to acquire 100% of German Levicron for no less than €8.5 million, aiming to expand its air-bearing spindle business and accelerate its presence in the European market [3] - The acquisition is a strategic move to integrate Levicron into the company's global business while maintaining its technological and brand independence [3] - The company will retain Levicron's existing operations and workforce, operating it as an independent unit [3] - The acquisition will diversify the company's product line from oil-lubricated bearings to oil-free bearings and air-bearing spindles [3] - The company is accelerating its international business, with overseas revenue reaching ¥63.1 million in 2023, a year-on-year increase of 49.17% [3] - The company is the sole domestic supplier with a track record of supplying bearings for nuclear main pumps, and its products are widely used in nuclear power plants under construction [3] - The company has developed a second-generation wind power sliding bearing with significant cost advantages and has built the world's first fully automated laser cladding production line [3] - The company secured a nearly ¥10 million gas turbine bearing order from Dongfang Electric Group in 2024 [3] Financial Projections - Revenue is expected to reach ¥577 million, ¥700 million, and ¥853 million in 2024, 2025, and 2026, respectively, with year-on-year growth rates of 10.27%, 21.42%, and 21.71% [3] - Net profit attributable to the parent company is projected to be ¥122 million, ¥153 million, and ¥193 million in 2024, 2025, and 2026, respectively, with year-on-year growth rates of 20.33%, 25.31%, and 26.56% [3] - EPS is expected to be ¥1.40, ¥1.75, and ¥2.22 in 2024, 2025, and 2026, respectively, with corresponding P/E ratios of 37.98x, 30.31x, and 23.95x [3] Financial Data and Valuation - Revenue for 2024E, 2025E, and 2026E is projected to be ¥576.90 million, ¥700.45 million, and ¥852.52 million, respectively [4] - Net profit attributable to the parent company for 2024E, 2025E, and 2026E is projected to be ¥121.78 million, ¥152.60 million, and ¥193.13 million, respectively [4] - ROE for 2024E, 2025E, and 2026E is expected to be 8.15%, 9.26%, and 10.49%, respectively [4] - EPS for 2024E, 2025E, and 2026E is projected to be ¥1.40, ¥1.75, and ¥2.22, respectively [4] - P/E ratios for 2024E, 2025E, and 2026E are 37.98x, 30.31x, and 23.95x, respectively [4] Basic Data - 52-week high/low price: ¥94.1/¥36.68 [5] - A-share circulating shares: 23.69 million [5] - A-share total shares: 87.00 million [5] - Circulating market value: ¥1,189.14 million [5] - Total market value: ¥4,366.53 million [5] Stock Performance - The stock price of the company has shown a downward trend over the past year, with a decline of 43% [6] Industry and Market Context - The company operates in the industrial and capital goods sector, focusing on sliding bearings, which are widely used in energy generation, industrial drives, petrochemicals, and shipbuilding [3] - The company's international business expansion is driven by demand from industries such as nuclear power and wind power [3]

Investment Rating - The investment rating for the company is "Buy" [1] Core Views - The company reported a revenue of 370 million yuan for the first three quarters of 2024, a year-on-year decrease of 4.59%, while the net profit attributable to shareholders increased by 5.19% to 85 million yuan [4] - The company has a strong core technology in dynamic pressure oil film bearings, which supports its high profitability despite a decline in performance due to the wind power sector [9] - The company is expanding its international presence by establishing a joint venture in Germany and acquiring a German company to enhance its product offerings [8] Financial Performance Summary - For Q3 2024, the company achieved a revenue of 109 million yuan, down 13.67% year-on-year and 25.08% quarter-on-quarter [5] - The gross margin for Q3 was 35.85%, a decrease of 4.97 percentage points year-on-year [5] - The company expects revenues of 5.5 billion yuan in 2024, with net profits projected at 1.15 billion yuan, and EPS of 1.33 yuan [9] Business Segment Performance - The company’s business segments showed varied performance, with shipbuilding and petrochemicals performing well, while energy generation, particularly wind power, faced significant declines [6] - The shipbuilding segment saw a revenue increase of 231% year-on-year, while the petrochemical segment continued to grow due to strategic partnerships [6] Future Outlook - The company anticipates a revenue growth trajectory with projections of 6.9 billion yuan in 2025 and 8.5 billion yuan in 2026, alongside increasing net profits [9] - The target price range for the company is set between 52.2 and 60.9 yuan, based on a PE ratio of 30-35 times for 2025 [9]