深圳市博实结科技股份有限公司 投资者来访接待管理制度 （2025 年 7 月） 第一章 总 则 第一条 为规范深圳市博实结科技股份有限公司（以下简称"公司" ）对外接 待行为，加强公司对外接待及与外界的交流和沟通，提高公司投资者关系管理水 平，根据《上市公司投资者关系管理工作指引》、《上市公司治理准则》、《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》有关规定及《深圳市博实结科技股份有限 公司章程》的相关要求，结合公司的实际情况，制订本制度。 第二条 本制度所述的投资者调研接待工作，是指公司通过接受投资者、媒 体、证券机构的调研、一对一的沟通、现场参观、分析师会议、路演和业绩说明 会、新闻采访等活动，增进投资者对公司的了解和价值认同的工作。 第三条 制定本制度的目的在于规范公司在接受调研、采访、沟通或进行对 外宣传、推广等活动时，增加公司信息披露的透明度及公平性，改善公司治理结 构，增进资本市场对公司的了解和支持。 第四条 公司接待工作遵循以下基本原则： （一）公平、公正、公开原则：公司人员在进行接待活动中，应严格遵循公 平、公正、公开原则， ...

年报信息披露重大差错责任追究制度 深圳市博实结科技股份有限公司 （2025 年 7 月） 第一章 总 则 第一条 为了进一步提高深圳市博实结科技股份有限公司（以下简称"公司" 或"本公司"）的规范运作水平，增强信息披露的真实性、准确性、完整性和及 时性，提高年报信息披露的质量和透明度，根据《中华人民共和国公司法》《中 华人民共和国证券法》《上市公司信息披露管理办法》《上市公司治理准则》和《深 圳证券交易所创业板股票上市规则》《公开发行证券的公司信息披露内容与格式 准则第 2 号——年度报告的内容与格式》等法律、法规、规范性文件及《深圳市 博实结科技股份有限公司章程》和《深圳市博实结科技股份有限公司信息披露管 理制度》（以下简称《信息披露管理制度》）的有关规定，结合公司的实际情况， 制定本制度。 第二条 公司有关人员应当严格执行《企业会计准则》及相关规定，严格遵 守公司与财务报告相关的内部控制制度，确保财务报告真实、公允地反映公司的 财务状况、经营成果和现金流量。公司有关人员不得干扰、阻碍审计机构及相关 注册会计师独立、客观地进行年报审计工作。 第三条 公司董事、高级管理人员以及与年报信息披露相关的其他人员在年 ...

深圳市博实结科技股份有限公司 第二条 公司召开股东会时适用本规则。 第三条 本规则对与会股东、公司全体董事、高级管理人员、股东会的有关 工作人员、列席股东会的其他人员具有约束力。 第四条 公司应当严格遵守法律、行政法规、《公司章程》及本规则的规定 召开股东会，保证股东能够依法行使权利。 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。 第二章 股东会的职权 第五条 公司股东会由全体股东组成。股东会是公司的权力机构，依法行使 下列职权： （一）选举和更换非职工代表董事，决定有关董事的报酬事项； 股东会议事规则 （2025 年 7 月） 第一章 总 则 第一条 为规范深圳市博实结科技股份有限公司（以下简称"公司"）的组 织和行为，保证股东会依法行使职权，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》")、 《上市公司章程指引》等法律、法规和规范性文件及《深圳市博实结科技股份有 限公司章程》（以下简称"《公司章程》"）的相关规定，制定本规则。 （七）修改《公司章程》； （二）审议批准董事会的报告 ...

证券代码：301608 证券简称：博实结 公告编号：2025-020 深圳市博实结科技股份有限公司 关于修订《公司章程》并办理工商变更登记 及制定、修订部分治理制度的公告 二、修订《公司章程》并办理工商变更登记备案的情况 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。 根据上述原因，公司拟对《公司章程》中相关条款进行修订，本次修订《公 司章程》尚需提交公司股东大会审议，公司董事会提请股东大会授权公司管理层 具体办理《公司章程》及其工商变更登记、章程备案等相关事宜。授权的有效期 限自公司股东大会审议通过之日起至本次相关工商变更登记及章程备案办理完 毕之日止。 深圳市博实结科技股份有限公司（以下简称"公司"）于 2025 年 7 月 23 日 召开第二届董事会第九次会议，审议通过了《关于修订<公司章程>并办理工商变 更登记的议案》《关于修订及制定公司部分治理相关制度的议案》，上述部分议案 尚需提交股东大会审议。现将具体情况公告如下： 一、修订《公司章程》及制定、修订公司部分治理制度的原因及依据 根据《中华人民共和国公司法》（以下简称"《公司法》"）《上市公司章程指 ...

证券代码：301608 证券简称：博实结 公告编号：2025-021 深圳市博实结科技股份有限公司 关于召开 2025 年第一次临时股东大会通知的公告 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。 深圳市博实结科技股份有限公司（以下简称"公司"）于2025年7月23日召 开第二届董事会第九次会议，审议通过了《关于召开2025年第一次临时股东大会 的议案》，定于2025年8月8日（星期五）14:50在广东省惠州市仲恺高新区惠风 西三路1号博实结产业园9楼会议室召开公司2025年第一次临时股东大会。现将本 次股东大会具体召开事项通知如下： 一、召开会议的基本情况 1、股东大会届次：2025 年第一次临时股东大会 2、股东大会的召集人：公司董事会 3、会议召开的合法、合规性：经公司第二届董事会第九次会议审议通过， 决定召开本次股东大会。本次股东大会召开程序符合《中华人民共和国公司法》 等有关法律法规及《公司章程》的规定。 （2）公司董事、监事和高级管理人员； 4、会议召开的日期、时间： （1）现场会议召开时间：2025 年 8 月 8 日（星期五）14:50； （ ...

证券代码：301608 证券简称：博实结 公告编号：2025-019 深圳市博实结科技股份有限公司 第二届董事会第九次会议决议公告 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 深圳市博实结科技股份有限公司（以下简称"公司"）第二届董事会第九次会 议于 2025 年 7 月 23 日在广东省惠州市仲恺高新区惠风西三路 1 号博实结产业 园 9 楼会议室以现场结合通讯的方式召开。会议通知已于 2025 年 7 月 19 日通 过邮件的方式送达各位董事。本次会议由董事长周小强主持，应出席董事 7 人， 实际出席董事 7 人，其中 3 名董事以通讯方式出席。公司高级管理人员、部分监 事列席了本次会议。 （一）审议通过《关于修订<公司章程>并办理工商变更登记的议案》 根据《中华人民共和国公司法》（以下简称"《公司法》"）《上市公司章 程指引》《上市公司股东会规则》《深圳证券交易所创业板股票上市规则》《深 圳证券交易所创业板上市公司自律监管指引第 2 号——规范运作》等法律法规及 规范性文件的规定，结合公司实际情况，公司拟取消监事会并修订《深圳 ...

Group 1: Company Overview - The company specializes in the research, production, and sales of IoT intelligent products, focusing on communication, positioning, and AI technologies [1] - It aims to become a global expert in IoT intelligent application solutions, adhering to the mission of "empowering everything with wisdom" [1] Group 2: Financial Performance - In 2024, the company achieved a revenue of CNY 1.402 billion, a year-on-year increase of 24.85%, and a net profit of CNY 176 million, up by 0.81% [2] - In Q1 2025, the revenue reached CNY 348 million, marking a 40.28% increase year-on-year, with a net profit of CNY 40 million, up by 14.42% [2] Group 3: Business Growth Areas - Future business growth will come from revenue enhancement of existing product lines and expansion into new application scenarios [2] - The commercial vehicle monitoring sector is experiencing a product upgrade wave, with traditional devices being replaced by advanced smart video driving recorders [2] - The company is increasing overseas product R&D investment and optimizing the technical architecture of smart vehicle terminals to expand its international market presence [2] Group 4: Product Development and Innovation - The company has developed a standardized and customized wireless module development model since 2015, covering mainstream communication standards [3][4] - The smart sleep terminal product utilizes an ODM business model, monitoring key physiological indicators to enhance user sleep quality [4] - Revenue from other smart hardware reached CNY 142 million in 2024, reflecting a 21.70% growth compared to 2023, showcasing the company's product diversification strategy [3]

Company and Industry Summary Company Overview - The company is projected to achieve total revenue of approximately 1.4 billion in 2024, with profits around 180 million. The first quarter of 2025 is expected to show rapid revenue growth, with profit growth anticipated to outperform the first quarter in the second quarter, primarily due to non-Spring Festival factors [2][7] Revenue and Profit Structure - The overseas market now accounts for 22%-23% of total revenue, with stronger profitability compared to the domestic market. However, some overseas business segments have lower gross margins, while the smart video terminal business maintains a high net profit margin, minimally impacting the overall net profit margin [2][8] - The smart vehicle terminal business targets the aftermarket, with a comprehensive gross margin of about 30%, slightly higher in overseas markets compared to domestic markets. Products include navigation devices, cameras, and dashcams [2][9][10] Business Segments - The smart mobility components business, which includes shared bicycle and electric bicycle components, is benefiting from high-end customer engagement and cost improvements. It is expected that the gross margin will recover to 15%-20% in 2025, indicating a potential return to growth [2][11] - The company has launched a smart bed cover aimed at the North American market, with projected revenue of about 200 million in 2024 and a gross margin of approximately 17%, positively impacting net profit with promising future applications [2][13][14] Research and Development - The company possesses self-research and production capabilities for modules, leading to high research efficiency. Each business unit operates independently in profit accounting and allows core personnel to participate in profit sharing, with active cost control measures in place [2][17] Market Expansion and Future Outlook - The company is optimistic about expanding its overseas market presence, with expectations of continued revenue growth. The overseas market's profitability is anticipated to enhance overall gross margins [2][16] - The company is focusing on three main growth points: expanding high-margin overseas markets, developing the smart video terminal sector, and improving overall gross margins due to cost reductions and increased overseas business share. A profit growth of over 25% is expected in 2025, with a current valuation of approximately 36 times [3][19] Shareholding and Incentive Mechanism - The chairman holds approximately 34% of the shares directly and has allocated nearly 18% of shares to executives and core employees before the IPO, establishing a robust long-term incentive mechanism that motivates employees in daily operations [2][5] Additional Product Lines - The company’s other smart hardware product lines include various categories such as payment speakers, electronic student IDs, smart wearable watches, AI cameras, attendance machines, pet locators, and manhole cover positioning terminals. These products currently generate smaller revenue volumes and are categorized under "other smart hardware" [2][15]

Group 1: Company Overview - The company specializes in the research, production, and sales of IoT intelligent products, focusing on communication, positioning, and AI technologies [1] - In 2024, the company achieved a revenue of CNY 1.402 billion, a year-on-year increase of 24.85%, and a net profit of CNY 176 million, an increase of 0.81% [1] - In Q1 2025, the company reported a revenue of CNY 348 million, a year-on-year increase of 40.28%, and a net profit of CNY 40 million, an increase of 14.42% [2] Group 2: International Expansion - The company's overseas revenue reached CNY 327 million in 2024, accounting for 23.35% of total revenue, with a growth of 399.37% compared to 2023 [2] - The smart vehicle terminal is a key product for international expansion, with significant sales in Africa, Southeast Asia, and West Asia [2] - The company plans to enhance market share in these regions while focusing on developed markets in Europe and the US for long-term growth [2] Group 3: Product Development and Strategy - The company is committed to continuous R&D investment to optimize the underlying technology of smart vehicle terminals, improving product stability and adaptability to overseas usage scenarios [2] - A universal operation and maintenance management platform has been developed to simplify product adaptation and enhance customer experience [2] - The company operates a divisional management system, ensuring independent accounting for each business line, with all divisions, including the newly established overseas division, currently profitable [3] Group 4: Future Outlook and Risk Management - The company aims to steadily increase R&D and marketing investments for overseas operations while maintaining profit growth as a primary goal [3] - Investors are advised to make rational decisions and be aware of investment risks, as the content does not constitute commitments or guarantees regarding industry predictions or company development strategies [4]

Investment Rating - The report assigns a "Buy" rating for the company, marking its first coverage [10]. Core Insights - The company has established a comprehensive IoT solution system based on "modules + platforms + terminals," which integrates hardware and software capabilities, positioning it to benefit from the growth of AI terminals. The company is expected to accelerate its growth trajectory as smart sleep terminals and overseas business enter a phase of rapid expansion. Additionally, the higher gross margin of overseas business is anticipated to improve the overall gross margin of the company [2][8]. Company Overview - The company initially focused on vehicle-mounted terminal products and has since expanded into smart hardware, covering three main areas: smart transportation, smart mobility, and smart payment hardware. It operates six business units, with the IoT unit providing foundational R&D support and self-developed communication modules, while the software/AI algorithm center enhances system integration and data service capabilities through cloud platforms [5][19]. Business Layout - The company’s growth engines are AI terminals and international expansion. Its smart vehicle-mounted terminals cater to both commercial and passenger vehicles, while smart mobility products target shared bicycles and electric bicycles. The smart sleep terminal, primarily an ODM smart bed cover, adjusts sleep conditions through precise temperature control and data analysis. The smart payment hardware includes cloud-based payment devices and other smart hardware products, with ongoing expansion of its product line [6][64]. Management Efficiency and Profitability - The company has implemented a "module + platform + terminal" business system and a standardized development model, enhancing R&D efficiency. The business unit management strategy allows for independent accounting of inputs and outputs, focusing on profit metrics to improve overall profitability. The company maintains a lower expense ratio compared to peers, attributed to a higher proportion of production personnel and lower wage levels in its operational region [7][21]. Investment Recommendations and Profit Forecast - The company is expected to achieve a net profit of CNY 219 million, CNY 273 million, and CNY 348 million from 2025 to 2027, with year-on-year growth rates of 25%, 25%, and 28%, respectively. The corresponding price-to-earnings ratios are projected at 33x, 27x, and 21x [8].