Core Insights - Zhejiang Fute Technology Co., Ltd. has obtained a patent for a transformer and new energy vehicle, indicating a focus on innovation in the new energy vehicle technology sector [1] - The patent addresses technical challenges related to heat dissipation and manufacturing of large-sized magnetic cores, which could enhance the efficiency and reliability of transformers used in new energy vehicles [1] Company Overview - Zhejiang Fute Technology Co., Ltd. was established in 2011 and is located in Huzhou, primarily engaged in the manufacturing of computers, communications, and other electronic devices [1] - The company has a registered capital of approximately 1.55 billion RMB [1] - It has made investments in 4 companies, participated in 12 bidding projects, and holds 163 patents along with 5 trademark registrations [1]

Core Insights - Futec Technology experienced a 2.28% decline in stock price on September 29, with a trading volume of 202 million yuan [1] - The company reported a financing buy-in of 21.38 million yuan and a financing repayment of 25.57 million yuan on the same day, resulting in a net financing outflow of 4.19 million yuan [1] - As of September 29, the total margin balance for Futec Technology was 127 million yuan, representing 2.85% of its market capitalization [1] Financing and Margin Data - On September 29, Futec Technology's financing buy-in was 21.38 million yuan, with a current financing balance of 127 million yuan, which is above the 90th percentile of the past year [1] - The company had no short selling activity on September 29, with a short selling balance of 0 shares, also above the 90th percentile of the past year [1] Company Overview - Futec Technology, established on August 10, 2011, is located in Anji County, Huzhou, Zhejiang Province, and specializes in the research, production, and sales of high-voltage power supply systems for new energy vehicles [1] - The company's revenue composition includes 95.68% from new energy vehicle products, 2.45% from technical services, 1.69% from non-vehicle new energy products, and 0.18% from other sources [1] Shareholder and Financial Performance - As of September 19, the number of shareholders for Futec Technology increased by 7.68% to 13,200, with an average of 8,216 circulating shares per person, a decrease of 7.13% [2] - For the first half of 2025, Futec Technology reported a revenue of 1.474 billion yuan, a year-on-year increase of 122.64%, and a net profit attributable to shareholders of 66.95 million yuan, up 15.15% year-on-year [2] Dividend and Institutional Holdings - Since its A-share listing, Futec Technology has distributed a total of 1.9983 million yuan in dividends [3] - As of June 30, 2025, the top ten circulating shareholders included new entrants such as GF Value Core Mixed A and Caitong Asset Management Advanced Manufacturing Mixed Fund, with significant holdings [3]

Core Viewpoint - The capital operations of Futec Technology, including a rapid fundraising plan and simultaneous shareholder sell-offs, have raised market concerns regarding the company's governance and investor trust [1][2]. Group 1: Fundraising and Financial Performance - Futec Technology announced a "lightning fundraising" plan on July 24, 2025, aiming to issue up to 46.6261 million shares to raise 528 million yuan for capacity expansion and R&D [1]. - The company had previously raised 389 million yuan during its IPO, but the actual investment in its core component manufacturing project was 5.9228 million yuan less than promised, indicating ongoing construction [1]. - In the first half of 2025, Futec Technology achieved revenue of 1.474 billion yuan, a year-on-year increase of 122.64%, while the net profit attributable to shareholders was only 66.9451 million yuan, with a growth rate of 15.15% [2]. Group 2: Shareholder Actions - Following the announcement of the fundraising plan, major shareholders, including Changjiang Weilai, announced plans to reduce their holdings, with Changjiang Weilai intending to sell up to 4.6626 million shares, representing 3% of the total share capital [1]. - Another shareholder, Changgao Electric New Energy, also approved a plan to reduce its holdings by 3.465 million shares, indicating a potential pressure on the company's stock price due to these simultaneous sell-offs [1].

Group 1 - The core point of the article highlights that Futec Technology has initiated a rapid capital increase plan of 528 million yuan just 10 months after its IPO, raising concerns in the market regarding its capital operations [1] - The company plans to issue up to 46.6261 million shares to specific investors to raise 528 million yuan for capacity expansion and R&D investment [1] - The previous IPO raised 389 million yuan, but the actual investment in the core component manufacturing project for new energy vehicles was 5.9228 million yuan less than promised, indicating ongoing construction [1] Group 2 - Following the announcement of the capital increase plan, major shareholders have announced plans to reduce their holdings, which raises questions about the company's stability [2] - Shareholder Changjiang Weilai plans to reduce up to 4.6626 million shares, accounting for 3% of total shares, with an expected cash-out of approximately 171 million yuan [2] - Another shareholder, Changgao Electric, plans to reduce 3.465 million shares, representing 2.23% of total shares, with an estimated value of about 132 million yuan, primarily to fund new product development [2] Group 3 - From a corporate governance perspective, the simultaneous reduction of holdings by shareholders alongside the capital increase may undermine investor trust, especially for a newly listed company [3] - In the first half of 2025, Futec Technology achieved revenue of 1.474 billion yuan, a year-on-year increase of 122.64%, but the net profit attributable to shareholders was only 66.9451 million yuan, with a much lower growth rate of 15.15% [3] - In 2024, the company reported revenue of 1.934 billion yuan, a year-on-year growth of 5.38%, but the net profit excluding non-recurring items saw a decline of 19.3% [3]

Core Insights - Fute Technology (301607) reported that as of September 19, 2025, the total number of shareholders is 13,181 [1] Company Summary - Fute Technology is actively engaging with investors through interactive platforms, indicating a focus on transparency and communication [1] - The company has a significant number of shareholders, which may reflect its market presence and investor interest [1]

Core Points - The company, Zhejiang Fute Technology Co., Ltd., has received a notification from the Shenzhen Stock Exchange regarding the acceptance of its application for a private placement of shares [2] Group 1 - The company announced on September 22 that it received a notice from the Shenzhen Stock Exchange on September 19, 2025, regarding the acceptance of its application for issuing shares to specific investors [2] - The Shenzhen Stock Exchange has verified that the application documents submitted by the company are complete and has decided to accept the application [2]

Group 1 - The core viewpoint of the news is that Futec Technology (SZ 301607) is actively engaging with investors and has reported its revenue composition for 2024, which is entirely from the new energy sector [1][2]. - Futec Technology's revenue for the year 2024 is 100% derived from the new energy sector, indicating a focused business strategy [2]. - As of the latest report, Futec Technology has a market capitalization of 6.6 billion yuan [3]. Group 2 - Futec Technology's board secretary, Li Yan, participated in an investor meeting on September 22, 2025, indicating the company's commitment to transparency and investor relations [1].

Group 1: Company Overview - The company focuses on the research, development, production, and sales of high-voltage power supply systems for electric vehicles, including on-board chargers (OBC), DC/DC converters, and power integration products [1] - The main function of on-board power products is to convert AC power from the grid into DC power for electric vehicle batteries and to convert high-voltage DC output from batteries into low-voltage DC for vehicle equipment [1] Group 2: International Business Development - In 2021, the company partnered with Renault, with mass production expected to gradually start in 2024 [1] - By 2024, overseas business revenue is projected to account for approximately 6.8%, increasing to over 17% in the first half of 2025, indicating progress in the company's internationalization strategy [1] Group 3: Business Strategy and Market Approach - The company has focused on expanding its business around battery charging and discharging technology, primarily targeting on-board power products for electric vehicles, while non-vehicle products are developed based on customer demand [3] - The company maintains an open yet cautious approach in other fields, assessing the maturity of commercial scenarios and market supply structures before investing [3] Group 4: Shareholder Information - On September 4, 2025, a portion of shares prior to the initial public offering and strategic placement, accounting for 50.71% of total shares, was unlocked and listed for trading [4] - Shareholders wishing to reduce their holdings must announce their intentions in advance, while others can reduce their holdings without additional disclosure from the company [4] Group 5: Regulatory Compliance - On September 19, 2025, the company received a notification from the Shenzhen Stock Exchange regarding the acceptance of its application for a specific stock issuance [5] - The company will strictly adhere to relevant regulations and regulatory requirements in advancing subsequent work [5] Group 6: Disclosure of Information - The investor relations activity does not involve the disclosure of any undisclosed significant information [6]

Core Points - Company received a notification from Shenzhen Stock Exchange regarding the acceptance of its application for issuing shares to specific investors [1] - The application documents were found to be complete, and the exchange has decided to accept the application [1] - The issuance is subject to approval from the Shenzhen Stock Exchange and the China Securities Regulatory Commission, with uncertainties regarding the approval timeline [1] Company Summary - Company plans to issue shares to specific investors as part of its capital raising strategy [1] - The acceptance of the application indicates a step forward in the company's financing efforts [1] - Company will fulfill its information disclosure obligations based on the progress of the application [1]

国泰海通证券股份有限公司 关于 浙江富特科技股份有限公司 2025 年度向特定对象发行股票 并在创业板上市 之 上市保荐书 保荐人（主承销商） 中国（上海）自由贸易试验区商城路 618 号 二〇二五年九月 浙江富特科技股份有限公司 上市保荐书 声 明 国泰海通证券股份有限公司（以下简称"国泰海通"、"保荐人"或"本保荐 人"）接受浙江富特科技股份有限公司（以下简称"富特科技"、"公司"、"发行 人"）的委托，担任富特科技本次向特定对象发行股票（以下简称"本次发行"） 的保荐人，张现先生、杜惠东先生作为具体负责推荐的保荐代表人，为本次向特 定对象发行股票的发行上市出具上市保荐书。 本保荐人及保荐代表人已根据《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》"）、《证券发行上市保荐 业务管理办法》（以下简称"《保荐管理办法》"）、《上市公司证券发行注册管理办 法（以下简称"《注册管理办法》"）、《深圳证券交易所创业板股票上市规则》等 有关法律、法规和中国证券监督管理委员会（以下简称"中国证监会"）以及深 圳证券交易所（以下简称"深交所"）的有关规定，诚实守信，勤勉 ...