深圳市绿联科技股份有限公司 股东会议事规则（草案） （H 股发行并上市后适用） 第一章 总则 第一条 为明确股东会的职责权限，规范其组织、行为，保证股东会依法行 使职权，提高股东会议事效率，保证股东会会议程序和决议的有效、合法，维护 全体股东的合法权益，公司根据《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 司股东会规则》《境内企业境外发行证券和上市管理试行办法》《香港联合交易 所有限公司证券上市规则》（以下简称"《香港上市规则》"）、《深圳市绿联 科技股份有限公司章程》（以下简称"《公司章程》"）及其他有关法律、法规 和规范性文件的规定，制定本议事规则。 第二条 公司应当严格按照法律、行政法规、公司股票上市地证券监管规则、 《公司章程》及本规则的相关规定召开股东会，保证股东能够依法行使权利。 第三条 公司董事会应当切实履行职责，认真、按时组织股东会。公司全体 董事应当勤勉尽责，确保股东会正常召开和依法行使职权。 第四条 股东会应当在《公司法》、公司股票上市地证券监管规则和《公司 章程》规定的范围内行使职权。 第五条 股东会分为年度股东会和临 ...

深圳市绿联科技股份有限公司 董事和高级管理人员所持本公司股份及其变动管理制度 （草案） （H 股发行并上市后适用） 第一章 总则 第一条 为加强深圳市绿联科技股份有限公司（以下简称公司、本公司）董 事和高级管理人员所持本公司股份及其变动的管理，规范公司董事和高级管理人 员所持本公司股份及其买卖本公司股票的行为，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》"）、中国证券监督管理委员会（以下简称"中国证监会"）发布的《上市 公司股东减持股份管理暂行办法》《上市公司董事和高级管理人员所持本公司股 份及其变动管理规则》《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》《深圳证券交易 所上市公司自律监管指引第10号——股份变动管理》《香港联合交易所有限公司 证券上市规则》《证券及期货条例》（香港法例第571章）等法律、法规、规章、 规范性文件和《深圳市绿联科技股份有限公司章程》（以下简称"《公司章程》"） 的规定，结合公司实际情况，制定本制度。 第二条 公司董事、高级管理人员所持本公司股份，是指登记在 ...

深圳市绿联科技股份有限公司 董事会成员及雇员多元化政策（草案） （H股发行并上市后适用） 第一章 总则 第一条 根据《中华人民共和国公司法》、公司证券上市地证券交易所（包 括深圳证券交易所、香港联合交易所有限公司，以下合称"证券交易所"）相关 监管规则等法律、法规、规范性文件以及《深圳市绿联科技股份有限公司章程》 （以下简称"《公司章程》"）的有关规定，本政策的目的旨在列出指引深圳市 绿联科技股份有限公司（以下简称"公司"）董事会提名董事及为达致董事会成 员及雇员多元化而采取的方针和政策。 第二章 一般政策 第六条 提名委员会应根据本政策、公司章程、公司证券上市地证券监管机 构和证券交易所的相关监管规则及相关法律法规等规定的程序和要求履行其职责 ，识别、考察及提名董事候选人。 第七条 提名委员会将定期检讨本政策，以确保本政策行之有效。提名委员 会应制定并推行正式流程以适当地监察本政策的落实情况。提名委员会应每年审 查及讨论本政策及其实施情况，并就改进和建议向董事会汇报，以供其考虑及批 准。 第八条 公司将在企业管治报告之中每年评核及汇报董事会层面和雇员层 面（包括高级管理层）多元化的执行情况。 第九条 提名委 ...

深圳市绿联科技股份有限公司 第一条 为规范深圳市绿联科技股份有限公司（以下简称"公司"）对外投资 活动的内部控制，保证公司科学、安全与高效地做出决策，明确公司股东会、董 事会、总经理等组织机构在公司对外投资决策方面的职责，控制财务和经营风险， 依据《中华人民公司共和国公司法》《深圳证券交易所创业板股票上市规则》（以 下简称"《创业板上市规则》"）、《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》《香港联合交易所有限公司证券上市规则》（以 下简称"《香港上市规则》"）等法律、法规、规章、规范性文件及《深圳市绿 联科技股份有限公司章程》（以下简称"《公司章程》"）的有关规定，制定本 办法。 第二条 本办法所称公司对外投资事项是指公司为获取未来收益而将一定数 量的货币资金、股权或者经评估后的实物或无形资产作价出资，对外进行各种形 式的投资活动。 第三条 按照投资期限的长短，公司对外投资分为短期投资和长期投资。短期 投资主要指公司购入的能够随时变现且持有时间不超过一年（含一年）的投资， 包括上市公司股票、债券、基金、外汇等交易性金融资产。长期投资主要指投资 期限超过一年，或不能随时变现或不准备 ...

公司董事会秘书兼任证券事务部负责人，保管董事会印章。 深圳市绿联科技股份有限公司 董事会议事规则（草案） （H 股发行并上市后适用） 第一章 总则 第一条 为了进一步规范深圳市绿联科技股份有限公司（以下简称"公司"） 董事会的议事方式和决策程序，促使董事和董事会有效地履行其职责，提高董事 会规范运作和科学决策水平，根据《中华人民共和国公司法》《中华人民共和国 证券法》《深圳证券交易所创业板股票上市规则》《境内企业境外发行证券和上 市管理试行办法》《香港联合交易所有限公司证券上市规则》（以下简称"《香 港上市规则》"）《深圳市绿联科技股份有限公司章程》（以下简称"《公司章 程》"）等有关规定，制定本规则。 第二条 董事会对股东会负责，行使法律、行政法规、部门规章、公司股票上 市地证券监管规则、《公司章程》及股东会授予的职权。 第三条 董事会下设证券事务部，处理董事会日常事务。 设置薪酬与考核委员会、提名委员会、战略与 ESG 委员会，依照《公司章程》和 董事会授权履行职责，专门委员会的提案应当提交董事会审议决定。委员会成员 应为单数，并不得少于 3 名。审计委员会成员为不在公司担任高级管理人员的董 事，其中独立 ...

Core Insights - The Chinese Network Attached Storage (NAS) industry is transitioning from a single structure focused on the enterprise market to a dual-track structure that includes both enterprise and consumer markets. The market size is projected to reach approximately 28.64 billion yuan in 2024, reflecting a year-on-year growth of 8.28% [1][9]. Industry Overview - Disk storage technology records data using magnetic media, with major types including Direct Attached Storage (DAS), Storage Area Network (SAN), and Network Attached Storage (NAS). NAS provides centralized management, file sharing, data backup, and elastic expansion, making it ideal for unstructured data storage [3][5]. Market Size - The NAS market in China is expected to grow significantly, driven by the digital transformation of enterprises and the increasing demand from individual and family users for data management, entertainment, and privacy security. Emerging consumer brands like Ugreen and Jikong are facilitating the penetration of NAS devices into ordinary households [1][9]. Key Companies - Ugreen Technology and Hikvision are notable players in the NAS market. Ugreen has rapidly expanded its presence with products like the DXP4800 series, while Hikvision leverages its security technology to offer NAS products that combine high security and usability [10][12]. Industry Development Trends 1. **AI and Edge Computing Integration**: The NAS industry is expected to integrate AI and edge computing, transitioning from passive storage to active service. This includes features like intelligent content generation and real-time video monitoring [13]. 2. **Vertical Market Penetration**: NAS applications are moving towards vertical markets, enhancing product customization and specialized solutions for sectors like smart homes and enterprise security [14]. 3. **Ecosystem Competition and Domestic Substitution**: The competition will focus on technology, ecosystem, and service, with international brands dominating the high-end market while local companies like Ugreen and Jikong expand in the mid-to-low end [15][16].

Investment Rating - The industry investment rating is maintained as "Positive" [5] Core Insights - The cross-border e-commerce sector remains robust, with a focus on leading brands and B2B companies actively implementing AI applications [3] - Online sales during Black Friday and Cyber Monday showed steady growth, with significant increases in consumer spending [8] - The performance of AI in e-commerce is notable, with a substantial rise in traffic driven by AI tools, indicating a shift in consumer behavior [8] Summary by Sections Cross-Border E-commerce B2B - B2B companies have a clear revenue logic through AI tools, with promising business developments ahead [3] - Recommended stocks include Xiaoguo City (600415), Focus Technology (002315) [3] Cross-Border E-commerce B2C - Recommended stocks include Anker Innovation (300866), Ugreen Technology (301606), Zhiou Technology (301376), Jihong Co., Ltd. (002803), and Huakai Yibai (300592) [3] Other Relevant Stocks - Other recommended stocks include Konnate Optical (02276), Miniso (09896), and Sumida (600710) [3] Market Trends - Black Friday and Cyber Monday online sales reached record highs, with online spending of $11.8 billion and $14.25 billion respectively, marking year-on-year growth of 9.1% and 7.1% [8] - The average online price of consumer goods in the U.S. increased by 8%, impacting actual sales performance [8] Future Outlook - In 2026, a decrease in tariff costs is expected to improve profit margins for some cross-border e-commerce companies [8] - The report outlines a timeline of tariff adjustments throughout 2025, indicating a complex landscape for cross-border trade [8]

Core Insights - The consumer NAS market is on the verge of explosive growth, driven by lower product prices and the integration of AI technology, which transforms NAS from a storage tool into a multifunctional platform [1][2]. Market Dynamics - The global consumer NAS market is expected to have a compound annual growth rate (CAGR) exceeding 30% from 2026 to 2030, indicating strong growth potential [1]. - The current demand surge is attributed to two main factors: the price drop to the "thousand-yuan machine" range, which significantly lowers the entry barrier for users, and the deep integration of AI technology with NAS [1][2]. Competitive Landscape - The competitive landscape consists of three main player categories: 1. Traditional ToB manufacturers like Synology and QNAP, which have strong technology but high pricing and complexity [1]. 2. Tech giants like Huawei and Xiaomi, focusing on ecosystem synergy with relatively limited functionality [1]. 3. Native ToC brands like UGREEN, which rapidly capture market share through high cost-performance ratios and user-friendly designs [1][2]. UGREEN's Market Position - UGREEN has achieved a 40.6% market share in China's e-commerce NAS sales by Q3 2025, surpassing Synology to become the market leader [1]. - In the U.S. Amazon market, UGREEN's share has reached 49.9%, indicating its strong competitive position [1]. - UGREEN's strategy of "small steps, quick iterations" effectively addresses consumer demands for "plug-and-play" solutions and data autonomy [1][2]. Growth Strategy - UGREEN is implementing a "dual-line" strategy to build a second growth curve: launching entry-level models under 1,000 yuan to lower usage barriers while also developing high-end AI NAS products with advanced capabilities [2]. - The company's storage revenue surged by 125% year-on-year in the first three quarters of 2025, with NAS business becoming a key growth driver [2].

Core Viewpoint - Ugreen Technology reported that as of November 28, 2025, the total number of shareholders is 9,357 [2] Summary by Relevant Categories - **Company Information** - Ugreen Technology has a total of 9,357 shareholders as of the specified date [2]

Core Viewpoint - Zhuhai Xiheng Investment Partnership (Limited Partnership), the major shareholder of Ugreen Technology (301606.SZ), plans to reduce its holdings by up to 8.2982 million shares, representing 2.00% of the total share capital, within three months starting from December 24, 2025, to March 23, 2026, through centralized bidding or block trading [1] Summary by Category - **Shareholder Actions** - The major shareholder intends to reduce its stake in Ugreen Technology by a maximum of 8.2982 million shares [1] - This reduction will not exceed 2.00% of the company's total share capital [1] - **Timeline** - The planned reduction will occur within a three-month period from December 24, 2025, to March 23, 2026 [1] - **Method of Reduction** - The shares will be sold through centralized bidding or block trading methods [1]