本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 一、收到车企的开发定点通知概况 证券代码：688696 证券简称：极米科技 公告编号：2025-082 极米科技股份有限公司（以下简称"公司"）的全资子公司宜宾市极米光电 有限公司（以下简称"宜宾极米"）于近日收到某国内知名汽车主机厂（以下简 称"客户"）的开发定点通知，宜宾极米将成为该客户某车型的车载投影供应商。 宜宾极米将严格按照客户的订单需求，在规定时间内完成指定产品的开发、试验 验证、生产准备与交付工作。 关于自愿披露全资子公司收到客户的开发定点通知公 告 极米科技股份有限公司 三、风险提示 1、宜宾极米收到客户的开发定点通知后，双方已进入履约状态，但尚未构 成实质性订单，涉及的产品实际供货时间、供货价格、供货数量以宜宾极米与客 户正式签订的供货协议或销售合同为准，因此公司供货量尚存在不确定性。 2、尽管合同双方均具备履约能力，但在订单履行过程中，可能会出现因产 品开发遇阻、供货质量不达标等各种原因导致项目变更、中止或终止等情况；如 遇政策、市场环境等不可预计或不可抗 ...

Core Viewpoint - XGIMI Technology (688696.SH) announced that its wholly-owned subsidiary, Yibin XGIMI Optoelectronics Co., Ltd., has received a development designation notification from a well-known domestic automotive manufacturer, indicating that Yibin XGIMI will become the supplier of in-car projection systems for a specific vehicle model [1] Group 1: Business Development - The development designation notification is beneficial for the expansion and sustainable development of the company's smart cockpit display business, aligning with the interests of the company and its shareholders [1] - The notification does not constitute an order or sales contract, and it is expected that this project will not have a significant impact on the company's operating performance for the current year [1] Group 2: Future Impact - Once the products involved in the development designation enter mass production, the company will recognize product revenue based on actual orders from the client [1] - The project is anticipated to have a positive impact on the company's operating performance over its lifecycle [1]

Core Viewpoint - XGIMI Technology (688696.SH) announced that its wholly-owned subsidiary, Yibin XGIMI Optoelectronics Co., Ltd., has received a development designation notification from a well-known domestic automotive manufacturer, positioning Yibin XGIMI as a supplier of in-car projection systems for a specific vehicle model [1] Group 1 - The development designation notification is expected to facilitate the expansion and sustainable development of the company's smart cockpit display business, aligning with the interests of the company and its shareholders [1] - The notification does not constitute an order or sales contract, and it is anticipated that this project will not have a significant impact on the company's operating performance for the current year [1] - Once the products involved in the development designation enter mass production, the company will recognize product revenue based on actual orders from the client, with the project lifecycle expected to positively influence the company's operating performance [1]

人民财讯12月15日电，极米科技(688696)12月15日公告，公司的全资子公司宜宾市极米光电有限公司 （简称"宜宾极米"）于近日收到某国内知名汽车主机厂（简称"客户"）的开发定点通知，宜宾极米将成 为该客户某车型的车载投影供应商。宜宾极米将严格按照客户的订单需求，在规定时间内完成指定产品 的开发、试验验证、生产准备与交付工作。 ...

证券研究报告 2025 年 12 月 14 日 湘财证券研究所 行业研究 家电行业周报 行业评级：增持（维持） 近十二个月行业表现 % 1 个月 3 个月 12 个月 相对收益 -1.4% 8.1% 9.7% 绝对收益 -1.5% 17.7% 17.1% 内需主导，国补政策延续 相关研究： | 1.《估值洼地，龙头业绩确定性 | | | --- | --- | | 强》 | 2025.12.01 | | 2.《铜登凌云处，上游觅新机》 | | | 2025.12.07 | | 注：相对收益与沪深 300 相比 分析师：李育文 证书编号：S0500523060001 Tel：021-50295328 Email：liyw3@xcsc.com 根据 ifind，本周家用电器行业涨跌幅为-1.98%，在申万同行业中排名第 25 位，同期沪深 300 指数涨跌幅-0.08%。子板块中，其他黑色家电（+1.29%）、 家电零部件Ⅲ（-0.54%）、冰洗（-1.84%）三个子行业在本行业涨幅靠前。 ❑ 估值低位，国补延续打开上行空间 估值历史低位，具备上涨空间。根据 ifind，以 PE-ttm 口径（整体法，剔除 负值 ...

Core Insights - The 14th Annual Development Conference of Listed Companies and the Hainan Free Trade Port Opportunity Exchange Conference was held in Haikou, gathering over 400 representatives from listed companies [1][3] - The conference aimed to discuss policy paths and global opportunities under the new trade landscape, providing insights for companies to seize new cycle opportunities [3] - Frans Group was awarded the "Outstanding Competitive Listed Company in the Outbound Industry" for its significant achievements in expanding overseas markets and building international competitiveness [3][6] Group 1 - The conference was co-hosted by the Hainan International Economic Development Bureau and Daily Economic News, with participation from over 400 company executives [1] - The event also revealed the "15th Reputation List of Listed Companies," highlighting companies excelling in international operations [3] - Frans Group's recognition reflects its successful internationalization efforts and commitment to enhancing its global presence [6] Group 2 - Frans Group has focused on the logistics equipment sector since its establishment, emphasizing technological and model innovation to provide high-cost performance products and services [6] - The company has actively responded to the national "going out" strategy, achieving notable results in its international business expansion [6] - The award serves as both recognition of past achievements and motivation for Frans Group to deepen its global layout and enhance industry leadership capabilities [6]

Core Viewpoint - The company, XGIMI Technology, is experiencing fluctuations in stock performance and is focusing on expanding its market presence in the smart projection industry while facing challenges in capital flow and stockholder dynamics [1][3][4]. Company Overview - XGIMI Technology, established on November 18, 2013, and listed on March 3, 2021, specializes in the research, production, and sales of smart projection products, along with providing related accessories and internet value-added services [6]. - The company's revenue composition includes 91.45% from projectors and accessories, 4.90% from other sources, and 3.66% from internet operations [6]. - As of September 30, 2025, XGIMI reported a revenue of 2.327 billion yuan, a year-on-year increase of 1.99%, and a net profit attributable to shareholders of 79.65 million yuan, reflecting a significant year-on-year growth of 297.49% [6][7]. Market Performance - On December 11, XGIMI's stock fell by 0.66%, with a trading volume of 43.783 million yuan and a market capitalization of 7.286 billion yuan [1]. - The stock has seen a net outflow of 1.8278 million yuan from major investors, indicating a reduction in holdings over the past three days [3][4]. Business Expansion - The company is actively expanding its international market presence, achieving a foreign revenue of 790 million yuan in 2022, which represents a year-on-year growth of 82.04% [2]. - XGIMI's products are sold in key markets including Europe, Japan, and the United States, with plans to enter emerging markets such as Australia and South Korea [2]. Shareholder Dynamics - As of September 30, 2025, the number of shareholders increased by 34.55% to 8,062, while the average number of shares held per shareholder decreased by 25.68% to 8,682 shares [6]. - The second-largest shareholder is Hong Kong Central Clearing Limited, holding 4.1545 million shares, which decreased by 427,000 shares compared to the previous period [8].

Group 1 - The event "2025 Foreign Investment Institutions Chengdu Tour" was launched in Chengdu, gathering over 200 representatives from more than 30 well-known investment institutions across nearly 10 countries and regions [1][3] - A total of over 15 billion yuan was signed in fund cooperation projects during the event, highlighting Chengdu's commitment to attracting foreign investment [3][8] - The "Chengdu Global Investors Circle" was initiated to enhance communication and collaboration between global capital and local enterprises [15] Group 2 - Chengdu's investment promotion bureau emphasized the city's high level of openness and its strategic position as a key node in the "Belt and Road" initiative, with significant international connectivity through its airports and rail services [5][6] - The future industry fund, with a total scale exceeding 100 billion yuan, focuses on investing in "hard technology" industries and has already secured various funding sources [5] - The event featured a "Global Investors Roundtable Forum" where discussions centered on foreign investment opportunities in China and the potential for Chinese enterprises to expand internationally [20][22] Group 3 - The event included a roadshow where 12 high-quality tech enterprises from Chengdu presented financing needs totaling nearly 1 billion yuan [25] - Notable companies such as Guoxing Aerospace and Olin Bio participated in the roadshow, showcasing Chengdu's strengths in aerospace, biomedicine, and artificial intelligence [26] - The event facilitated interactions between local enterprises and over 40 foreign investment institutions, leading to potential investment agreements [27]

Market Overview - The black home appliance sector experienced a decline of 0.5% on December 9, with the leading stock being XGIMI Technology [1] - The Shanghai Composite Index closed at 3909.52, down 0.37%, while the Shenzhen Component Index closed at 13277.36, down 0.39% [1] Stock Performance - Notable stock performances include: - Zhao Chi Co., Ltd. (002429) closed at 6.93, up 0.58% with a trading volume of 916,600 shares [1] - Jiu Lian Technology (688609) closed at 10.07, up 0.20% with a trading volume of 105,900 shares [1] - Sichuan Changhong (600839) closed at 9.26, down 0.32% with a trading volume of 485,000 shares [1] - XGIMI Technology (688696) closed at 105.00, down 2.70% with a trading volume of 7,539.96 shares [1] Capital Flow - The black home appliance sector saw a net outflow of 97.30 million yuan from institutional investors, while retail investors had a net inflow of 74.17 million yuan [1] - Detailed capital flow for specific stocks includes: - Sichuan Changhong had a net inflow of 2.55 million yuan from institutional investors, but a net outflow of 11.38 million yuan from speculative funds [2] - XGIMI Technology experienced a net inflow of 0.82 million yuan from institutional investors, with a net outflow of 2.84 million yuan from speculative funds [2] - *ST Gauss (002848) had a significant net outflow of 8.32 million yuan from institutional investors [2]

Core Insights - Chengdu aims for high-level opening-up during the "14th Five-Year Plan" period, leveraging "Rongpin Going Global" as a key strategy to enhance its international trade and brand recognition [1][2] Policy, Channels, and Industry - Chengdu has established a comprehensive support system for enterprises to go global, focusing on policy empowerment, logistics channels, and industrial capabilities [2] - The city has implemented a three-dimensional policy system to facilitate international market access, including subsidies for international exhibitions and funding for key export brands, resulting in over 200 billion yuan in intended orders from various international trade events [2] - Chengdu's logistics network has expanded significantly, with 82 international flight routes and over 36,000 China-Europe freight trains, reducing shipping times and costs for local businesses [3] - Key industries such as electronics, pharmaceuticals, and renewable energy have seen substantial growth, with exports increasing by 34.6% year-on-year in the first three quarters [3][4] Technology, Brand, and Model - Chengdu enterprises are shifting from low-cost exports to value-driven approaches, achieving significant contracts in high-end markets, such as a 2.1 billion yuan deal for smart heavy trucks in Saudi Arabia [5] - Technological innovation is a priority, with companies integrating AI and smart technologies to enhance product competitiveness, leading to increased sales and international recognition [6] - Brand development is emphasized, with local firms moving from OEM to brand exports, significantly enhancing the global presence of "Chengdu-made" products [6] - Innovative business models, including the establishment of a free trade zone, are facilitating trade and attracting foreign investment, with over 5,000 foreign enterprises now based in Chengdu [9] Scale, Market, and Impact - Chengdu's foreign trade has seen remarkable growth, with a projected 2024 export value of 839 billion yuan, marking a 12.1% increase [8] - The city's market reach has expanded globally, with products being exported to 230 countries and regions, contributing to its status as the leading foreign trade city in Western China [8][9] - Chengdu's open practices are benefiting the broader Western region, creating a ripple effect that enhances logistics and trade opportunities for neighboring cities [9]