证券代码：301606 证券简称：绿联科技 公告编号：2026-002 深圳市绿联科技股份有限公司 2026 年第一次临时股东会决议公告 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。 特别提示： 1.本次股东会未出现否决议案的情形。 2.本次股东会不涉及变更以往股东会已通过的决议。 一、会议召开和出席情况 （一）会议召开情况 1.会议召开时间 现场会议时间：2026 年 1 月 12 日 14:30 3.会议召开方式：本次会议采取现场表决与网络投票相结合的方式召开 4.会议召集人：公司董事会 5.会议主持人：董事长张清森先生 网络投票时间：2026 年 1 月 12 日 通过深圳证券交易所交易系统进行网络投票的具体时间为 2026 年 1 月 12 日上午 9:15-9:25、9:30-11:30，下午 13:00-15:00； 通过深圳证券交易所互联网投票系统进行网络投票的具体时间为 2026 年 1 月 12 日 9:15-15:00 的任意时间。 2.会议召开地点：深圳市龙华区龙观西路龙城工业区御安 7 栋 1 楼会议室 6.本次会议的召集、召开与表决 ...

现场检查报告 华泰联合证券有限责任公司 关于深圳市绿联科技股份有限公司 2025 年现场检查报告 根据中国证监会《证券发行上市保荐业务管理办法》和《深圳证券交易所上 市公司自律监管指引第 13 号——保荐业务》等有关法律法规的要求，华泰联合 证券有限责任公司作为深圳市绿联科技股份有限公司（以下简称"绿联科技"或 "公司"）首次公开发行股票的保荐人，于 2025 年 12 月 26 日至 12 月 31 日对 深圳市绿联科技股份有限公司 2025 年有关情况进行了现场检查，报告如下： 1 保荐人名称：华泰联合证券有限责任公司 被保荐公司简称：绿联科技 保荐代表人姓名：王天琦 联系电话：0755-82492010 保荐代表人姓名：高博 联系电话：0755-82492010 现场检查人员姓名：王天琦 现场检查对应期间：2025 年度 现场检查时间：2025 年 12 月 26 日至 12 月 31 日 一、现场检查事项 现场检查意见 （一）公司治理 是 否 不适用 现场检查手段：查阅公司章程、公司治理制度、三会规则、本年度的三会记录、本年度的 重要信息披露文件。 1.公司章程和公司治理制度是否完备、合规 √ 2.公 ...

广东信达律师事务所 股东会法律意见书 中国深圳福田区益田路 6001 号太平金融大厦 11、12 层 邮政编码：518038 11、12/F.TaiPing Finance Tower, 6001 Yitian Road, Futian District, SHENZHEN, CHINA 电话(Tel.)：（86 755）88265288 传真（Fax.)：（86 755）88265537 电子邮件（Email）：info@sundiallawfirm.com 网址（Website）：www.sundiallawfirm.com 广东信达律师事务所 关于深圳市绿联科技股份有限公司 2026 年第一次临时股东会的 法律意见书 信达会字（2026）第 004 号 致：深圳市绿联科技股份有限公司 广东信达律师事务所（以下简称"信达"）接受深圳市绿联科技股份有限公 司（以下简称"贵公司"或"公司"）委托，指派律师出席公司 2026 年第一次 临时股东会（以下简称"本次股东会"），对本次股东会的合法性进行见证，并 出具本《广东信达律师事务所关于深圳市绿联科技股份有限公司 2026 年第一次 临时股东会的法律意见书》（下 ...

关于深圳市绿联科技股份有限公司 培训情况报告 华泰联合证券有限责任公司 持续督导期 2025 年培训情况报告 深圳证券交易所： 华泰联合证券有限责任公司（以下简称"华泰联合证券"或"保荐人"）作 为深圳市绿联科技股份有限公司（以下简称"绿联科技"或"公司"）首次公开 发行股票并在创业板上市的保荐人，根据《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 13 号——保荐业务》等法规和规则 的相关规定以及绿联科技的实际情况，认真履行保荐人应尽的职责，对绿联科技 的董事、高级管理人员、公司控股股东和实际控制人等相关人员进行了有计划、 多层次的 2025 年度持续督导培训，所培训的内容严格按照中国证券监督管理委 员会及深圳证券交易所有关持续督导的最新要求进行。 2025 年 12 月 29 日，华泰联合证券相关人员按照《深圳证券交易所上市公 司自律监管指引第 13 号——保荐业务》的要求完成了对绿联科技相关人员的持 续培训工作，特向贵所报送培训工作报告。 一、培训的主要内容 2025 年 12 月 29 日，培训小 ...

Summary of the Conference Call for Liyuan Technology Company Overview - Liyuan Technology is a globally recognized emerging consumer electronics brand with a strong integration of manufacturing, trade, and technology. The company achieved a revenue of 6.2 billion RMB in 2024, with a three-year compound annual growth rate (CAGR) of 21%. The net profit attributable to the parent company reached 460 million RMB, with a CAGR of 16% over three years. The company's core competitiveness lies in its robust manufacturing capabilities provided by its subsidiaries, Shenzhen Haiying and Shenzhen Zhize, which contribute nearly 20% of its production capacity, facilitating effective product launches and quality control. Additionally, Liyuan Technology invested significantly in R&D, with expenses reaching 304 million RMB in 2024, a 41% increase year-on-year. The company has established a comprehensive trade network both domestically and internationally, expanding its product categories globally under the Yougelin brand [2][3]. Charging Business Highlights - Liyuan Technology's charging business is a key development area. Despite the market for chargers and power banks being relatively saturated, there is a continuing trend of structural upgrades. The company is accelerating its focus on high-value-added charging products, with the newly launched Energy Pro product becoming a sales champion. The mobile power bank market is expected to grow at a CAGR of 6.4% from 2024 to 2032, while the charger market is projected to grow at a CAGR of 6% from 2020 to 2030. The cancellation of bundled chargers by smartphone manufacturers and increased compliance regulations are supporting industry growth. The company has launched several high-power, high-capacity, GaN fast-charging, and wireless charging products to continuously expand its product matrix. Liyuan Technology is also capitalizing on overseas e-commerce opportunities, with significant sales contributions from Germany, the UK, and the US, and has established a solid channel foundation [4][5]. NAS Business Development - The NAS (Network Attached Storage) segment represents another area of significant growth potential for Liyuan Technology. NAS devices are primarily used for storage and possess certain computing capabilities, representing an advanced storage technology route. With increasing personal data anxiety and consumer awareness of data sovereignty, the demand for consumer-grade NAS is rapidly growing. The mid-term industry retention is expected to reach over one million units. Liyuan Technology entered this field early, possessing advantages in pricing and hardware, and is continuously developing software applications tailored to consumer needs, potentially capturing market share from leading competitors. NAS applications include connecting multiple storage devices, addressing mobile storage shortages, organizing files, and long-term data preservation. Additionally, NAS can serve as a shared device in home or work environments and features Docker and virtual machine capabilities, enhancing its usability. The average price decline of NAS over the past two years has increased penetration rates, with an estimated global user base of nearly 1 billion and a total market size of approximately 20 billion RMB [6]. Channel Expansion Initiatives - Liyuan Technology is actively expanding its offline channels, increasing its presence in domestic markets such as Sam's Club and small supermarkets, while also establishing channels overseas with Costco, Walmart, and Best Buy. The company continues to leverage overseas e-commerce benefits and optimize its product structure, with significant sales contributions from Germany, the UK, and the US, having built a solid channel foundation. The company plans to further enhance the competitiveness of its core products, including mobile power banks and NAS [7][8]. Future Outlook - Looking ahead, Liyuan Technology's net profit attributable to the parent company is expected to reach 700 million RMB by 2025 and 1.1 billion RMB by 2026. Overall, the company exhibits significant profit growth potential, with a current valuation multiple of 23 times, offering a high cost-performance ratio for 2026. Given the brand's momentum cycle, there is strong optimism regarding the company's growth and subsequent investment opportunities, leading to a comprehensive buy rating [9].

Investment Rating - The report assigns an "Accumulate" rating for the industry [1] Core Insights - The report recommends focusing on sectors such as the travel industry chain, gold and jewelry, and AI applications [3] - The investment highlights include the ongoing recovery in consumer spending, particularly in tourism and retail sectors, driven by favorable policies [4] Summary by Relevant Sections Investment Highlights - Key companies to watch include OTA platforms (Ctrip, Tongcheng), hotels (Atour, Huazhu, ShouLai, JinJiang, JunTing), and scenic spots (Emei Mountain, Three Gorges Tourism, Changbai Mountain) [4] - Significant improvement in competitive landscape noted for companies like Caibai Co. and Huatu Shanding [4] - AI application trends are gaining momentum with companies such as Kangnait Optical, Qingmu Technology, Tianli International Holdings, and Focus Technology [4] - Impressive sales data in the duty-free sector, particularly for China Duty Free Group [4] - Other undervalued companies highlighted include Laopu Gold, Sumida, Jiangsu Guotai, Action Education, and China Oriental Education [4] Market Performance - The retail sector saw a 4.43% increase last week, while the consumer services sector rose by 2.54%, ranking 13th and 21st among 30 industries respectively [4] - Notable stock performances included Focus Technology (+16.4%), Tianli International Holdings (+15.5%), and JunTing Hotel (+12.1%) [4] Industry Updates - The report provides updates on key industry metrics, including a 128.9% year-on-year increase in sales during the New Year holiday for Hainan's duty-free shopping [4] - The CPI data for December 2025 showed a year-on-year increase of 0.8% [4] - The CES 2026 event in Las Vegas featured over 50 Chinese brands showcasing smart glasses [4] - IKEA China announced the closure of seven large stores starting February 2, 2026, shifting focus to smaller stores and online channels [4]

Core Insights - The NAS (Network Attached Storage) market is experiencing rapid growth due to increasing consumer data generation and the proliferation of smart devices, with 67.5% of data produced in China in 2024 coming from consumers [1][5] - The home NAS market in China is projected to see significant growth, with shipments expected to exceed 585,000 units in 2024, a 33% year-on-year increase, and sales surpassing 1.2 billion RMB [1][9] - The competitive landscape includes three main categories of players: ToB manufacturers like Synology and QNAP, ToC brands like Ugreen and Jimi, and tech giants like Huawei, Xiaomi, and Lenovo [1][10] Industry Overview - NAS devices are designed for data storage and network connectivity, consisting of physical storage drives, CPUs, operating systems, and network interfaces, enabling multi-device access and data backup [2][4] - The demand for NAS is driven by the digital lifestyle and the need for secure data storage solutions, especially as data security concerns rise [5][6] Market Development - The home NAS market has evolved significantly since 2020, with new entrants focusing on user-friendly, cost-effective solutions, leading to increased adoption among consumers [7][9] - The market penetration of home NAS remains low, indicating substantial growth potential, with forecasts suggesting shipments could reach 1.92 million units by 2029 [1][9] Competitive Landscape - The market is highly concentrated, with seven major companies, including Ugreen, Jimi, Synology, QNAP, Huawei, Lenovo, and Hikvision, holding over 85% of the market share in 2024 [1][10] - Ugreen has rapidly gained recognition as the leading consumer NAS brand in China, particularly after launching its DXP and DH series products [1][10] Future Trends - The consumer NAS market is expected to continue evolving with advancements in technology and user demands, potentially transforming NAS into a central hub for smart home ecosystems [11][12] - Competition is anticipated to intensify as domestic manufacturers enter the market, focusing on innovation in data transmission, energy efficiency, and heat dissipation technologies [11][12]

Core Viewpoint - Ugreen Technology (301606) forecasts a net profit attributable to shareholders for 2025 in the range of 653 million to 733 million yuan, representing a year-on-year growth of 41.26% to 58.56% compared to 462 million yuan in the previous year [1][2]. Financial Performance - The net profit attributable to shareholders is projected to be between 653 million and 733 million yuan, with a growth rate of 41.26% to 58.56% compared to the previous year's 462 million yuan [2]. - The net profit after deducting non-recurring gains and losses is expected to be between 623 million and 705 million yuan, reflecting a year-on-year increase of 41.08% to 59.65% from 441.58 million yuan [2]. Business Growth Drivers - The company's performance growth is attributed to a multi-dimensional development strategy, a clear brand strategy, and a robust operational philosophy, which includes capturing market demand, strengthening core competitiveness, and expanding market presence [2][3]. - Significant breakthroughs in product lines, particularly in NAS products, have contributed to revenue growth, with storage products generating 415 million yuan in the first half of 2025, a substantial increase of 125% year-on-year [3]. - The charging product segment also showed strong performance, with a 44% year-on-year revenue increase in the first half of 2025, supported by continuous product upgrades and favorable domestic policies [3]. Market Expansion - Ugreen has achieved rapid growth in both domestic and overseas channels, with notable success in overseas markets, including entry into major cross-border e-commerce platforms and independent sites in developed countries [4]. - The company’s overseas revenue is projected to grow by 46% in 2024, accounting for 57% of total revenue, with a gross margin of 44% in overseas markets, higher than the 28% in domestic markets [4]. - Ugreen did not participate in a large-scale recall of charging products due to safety concerns, which involved other brands, and instead launched a "trade-in" program for old charging products that comply with current safety standards [4].

Group 1: Industry Overview - The home appliance and light industry in 2026 should focus on four investment themes: domestic demand supported by old-for-new policies, supply-side improvements in the power bank industry, and the rise of niche consumer products in service consumption [1] - The white goods sector is expected to benefit from the old-for-new policy, with a significant increase in consumer spending projected [44] - The overall performance of the light industry outperformed the CSI 300 index, with a cumulative increase of 24.68% from January to December 2025 [12][15] Group 2: Key Companies - Midea Group is developing a second growth curve through its B-end business, particularly in data center liquid cooling, which shows significant potential [2] - Haier Smart Home is enhancing its operational system through a data-driven approach, improving competitiveness across product, cost, and supply chain [2] - TCL Electronics and other companies in the black goods sector have shown strong performance, benefiting from the old-for-new subsidy policy [21] Group 3: Market Trends - The power bank industry is expected to see improved market conditions due to new regulations, which will raise industry standards and potentially eliminate many low-quality brands [2] - The "Guzi economy" is tapping into emotional consumption needs, with domestic IP supply increasing and consumer spending on IP expected to grow significantly [3] - The folding bicycle market is transitioning from niche to mainstream, with significant growth potential driven by urban mobility needs [3] Group 4: Export and New Markets - The export chain is gradually recovering from tariff disruptions, with a focus on companies that have strong overseas production capabilities to mitigate tariff risks [3] - New product categories, such as pool cleaning robots, have substantial growth potential, with Chinese companies expected to increase their market share [3] - Emerging markets in Africa and Latin America present new opportunities for multinational hygiene product companies [3]

Group 1 - A total of 13 companies listed on the ChiNext board have announced their performance forecasts for 2025, with 12 companies expecting profit increases and 1 company forecasting a profit [1] - The median expected net profit growth for the companies is significant, with the highest forecasted increase being 677.22% for Zhongtai Co., Ltd. [1] - The industries represented include public utilities, telecommunications, basic chemicals, machinery, automotive, retail, electronics, social services, and computing [1] Group 2 - Zhongtai Co., Ltd. (300435) is expected to report a profit increase of 677.22% with a closing price of 25.33 yuan and a year-to-date change of 14.00% [1] - Guangku Technology (300620) anticipates a profit increase of 162.00% with a closing price of 155.26 yuan and a year-to-date change of 5.58% [1] - Other notable companies include Chuanjin (300505) with a forecasted profit increase of 158.44%, Dingtai (301377) with 91.74%, and Taotao Automotive (301345) with 91.30% [1]