财通证券股份有限公司 关于 浙江美力科技股份有限公司 向不特定对象发行可转换公司债券 之 上市保荐书 保荐机构（主承销商） （住所：浙江省杭州市西湖区天目山路 198 号财通双冠大厦西楼） 二〇二五年八月 浙江美力科技股份有限公司 上市保荐书 声 明 财通证券股份有限公司及其保荐代表人已根据《公司法》《证券法》等法律 法规和中国证监会及深圳证券交易所的有关规定，诚实守信，勤勉尽责，严格按 照依法制定的业务规则和行业自律规范出具上市保荐书，并保证所出具文件真实、 准确、完整。 本上市保荐书中，除非文义另有所指，有关术语的释义内容与《浙江美力科 技股份有限公司向不特定对象发行可转换公司债券募集说明书》一致。 3-3-1 | | 目录 2 | | --- | --- | | 第一节 | 发行人基本情况 3 | | | 一、发行人概况 3 | | | 二、发行人主营业务 3 | | | 三、发行人主要经营和财务数据及指标 4 | | | 四、发行人存在的主要风险 5 | | 第二节 | 本次发行情况 15 | | | 一、本次发行概况 15 | | | 二、本次证券发行上市的保荐代表人、协办人及项目组其他成员情况 1 ...

财通证券股份有限公司 （住所：浙江省杭州市西湖区天目山路 198 号财通双冠大厦西楼） 二〇二五年八月 浙江美力科技股份有限公司 发行保荐书 关于浙江美力科技股份有限公司 向不特定对象发行可转换公司债券 之 发行保荐书 保荐机构（主承销商） 浙江美力科技股份有限公司 发行保荐书 声 明 财通证券股份有限公司（以下简称"财通证券""保荐机构"或"保荐人"） 接受浙江美力科技股份有限公司（以下简称"美力科技""公司"或"发行人"） 的委托，担任其向不特定对象发行可转换公司债券（以下简称"本次发行"）的 保荐机构。 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》"）、《上市公司证券发行注册管理办法》（以下简 称"《注册管理办法》"）、《证券发行上市保荐业务管理办法》（以下简称"《保荐 管理办法》"）、《保荐人尽职调查工作准则》和《发行证券的公司信息披露内容与 格式准则第 27 号—发行保荐书和发行保荐工作报告》等有关法律、行政法规和 中国证券监督管理委员会（以下简称"中国证监会"）、深圳证券交易所的规定， 保荐人及其保荐代表人诚实守信、勤勉尽责，严格按照制订 ...

Core Insights - The performance of companies listed on the ChiNext and STAR Market is under close scrutiny as they report their 2025 mid-year results, with over 100 companies already disclosing their earnings, showing a positive trend in revenue and net profit growth [1][3][4] Group 1: Overall Performance - More than 70 companies in the "Double Innovation" sector reported revenue growth, and over 70 companies also saw an increase in net profit [3] - Four companies achieved revenue growth exceeding 100%, while four others reported net profit growth rates over 1000% [1][5] Group 2: Notable Company Performances - Companies like Xiechuang Data reported a revenue of 4.944 billion yuan, a 38.18% increase year-on-year, and a net profit of 457 million yuan, up 27.68% [2] - BeiGene reported a revenue of 17.518 billion yuan, a 46% increase, and turned a profit of 450 million yuan, compared to a loss in the previous year [2] Group 3: High Growth Companies - In the "Double Innovation" sector, 38 companies had revenue growth rates exceeding 20%, and 14 companies exceeded 50% [4] - Four companies with significant revenue growth include: - Nanji Guang: Revenue of 398 million yuan, up 244.67% - Shijia Photon: Revenue of 993 million yuan, up 121.12% - New Qianglian: Revenue of 2.21 billion yuan, up 108.98% - Aobi Zhongguang: Revenue of 435 million yuan, up 104.14% [4] Group 4: Profitability Highlights - 34 companies in the "Double Innovation" sector reported net profit growth rates over 50%, with 21 companies exceeding 100% [5] - Companies with net profit growth rates over 1000% include: - Zhimingda: Net profit of 38 million yuan, up 2147.93% - Rongzhi Rixin: Net profit of 14 million yuan, up 2063.42% - Shijia Photon: Net profit of 217 million yuan, up 1712% - Zhenlei Technology: Net profit of 62 million yuan, up 1006.99% [6] Group 5: Stock Performance Correlation - The positive correlation between stock prices and earnings is evident, with companies like Shijia Photon seeing a stock price increase of over 260% year-to-date [7] - Other companies such as Guomai Culture and Meili Technology also exhibited strong stock performance in line with their earnings growth [7][8]

Core Viewpoint - Meili Technology (300611) reported strong financial performance for the first half of 2025, with significant increases in revenue and net profit compared to the previous year, indicating improved profitability and operational efficiency [1]. Financial Performance - Total revenue for the first half of 2025 reached 900 million yuan, a year-on-year increase of 25.25% [1]. - Net profit attributable to shareholders was 80.4 million yuan, up 71.98% year-on-year [1]. - In Q2 2025, total revenue was 483 million yuan, reflecting a 16.16% increase year-on-year, while net profit for the quarter was 46.4 million yuan, up 51.5% [1]. - Gross margin improved to 24.41%, a year-on-year increase of 21.85%, and net margin rose to 9.09%, up 43.03% [1]. Cost and Expenses - Total selling, administrative, and financial expenses amounted to 87.3 million yuan, accounting for 9.7% of revenue, which is a 14.87% increase year-on-year [1]. - Significant increases in sales expenses (up 52.48%) and management expenses (up 46.07%) were attributed to higher employee compensation and costs related to the acquisition of MSSCAHLEGmbH [5]. Balance Sheet Highlights - Cash and cash equivalents decreased by 2.11% to 223 million yuan [2]. - Accounts receivable increased by 10.61% to 544 million yuan [1]. - Interest-bearing liabilities rose by 18.01% to 635 million yuan [1]. - The company's net asset value per share increased by 15.45% to 5.63 yuan [1]. Cash Flow and Investments - The net cash flow from investing activities saw a drastic decline of 699.83%, primarily due to payments for land purchases [7]. - The net cash flow from financing activities increased by 273.2%, driven by additional bank borrowings to support operational needs [8]. - The net increase in cash and cash equivalents was up 307.16%, also linked to increased bank borrowings [9]. Operational Insights - The company’s return on invested capital (ROIC) was reported at 6.8%, indicating average capital returns over recent years [10]. - The business model relies heavily on capital expenditures, necessitating careful evaluation of the profitability of these investments [10]. - The company has a history of cyclical performance, with one year of losses since its IPO [10].

Core Viewpoint - Meili Technology reported significant growth in revenue and net profit for the first half of 2025, indicating improved profitability, but faces challenges in expense control, cash flow management, and debt levels [10]. Business Overview - Total revenue reached 900 million yuan, a year-on-year increase of 25.25% - Net profit attributable to shareholders was 80.4 million yuan, up 71.98% - Non-recurring net profit was 77.6 million yuan, an increase of 72.25% - In Q2, total revenue was 483 million yuan, a 16.16% increase year-on-year, with net profit at 46.4 million yuan, up 51.5% [2]. Profitability - Gross margin improved to 24.41%, an increase of 21.85% - Net margin rose to 9.09%, a year-on-year increase of 43.03%, indicating significant progress in cost control and operational efficiency [3]. Expense Control - Total operating expenses amounted to 87.3 million yuan, accounting for 9.7% of revenue, a year-on-year increase of 14.87% - Sales and management expenses increased by 52.48% and 46.07% respectively, primarily due to rising employee compensation and travel costs, as well as the acquisition of MSSCAHLEGmbH assets in Germany [4]. Cash Flow and Debt Situation - Operating cash flow per share was 0.36 yuan, a decrease of 0.13 yuan year-on-year - Cash and cash equivalents totaled 223 million yuan, down 2.11% - Interest-bearing debt rose to 635 million yuan, an increase of 18.01% - The ratio of cash and cash equivalents to current liabilities was only 37.63%, with a three-year average operating cash flow to current liabilities ratio of 17.38%, indicating concerns regarding cash flow management [5]. Accounts Receivable - Accounts receivable stood at 544 million yuan, a year-on-year increase of 10.61% - The ratio of accounts receivable to profit was as high as 510.23%, indicating pressure in accounts receivable management [6]. Investment and Financing Activities - Net cash flow from investing activities decreased by 699.83%, mainly due to payments for land purchases - Net cash flow from financing activities increased by 273.2%, primarily due to increased bank borrowings to meet operational needs [7]. Industry Background - Meili Technology operates in the "C3483 Spring Manufacturing" industry, primarily serving the automotive sector - In the first half of 2025, automotive production and sales reached 15.62 million and 15.65 million units, with year-on-year growth rates of 12.5% and 11.4% - New energy vehicle production and sales reached 6.97 million and 6.94 million units, with year-on-year growth of 41.4% and 40.3%, accounting for 44.3% of total new car sales, driving market growth [8]. Core Competitiveness - The company holds 111 patents and 24 software copyrights, participating in the formulation of various international, national, and industry standards - Advanced production equipment has been introduced, and a skilled, experienced, and collaborative R&D team has been established - The company is a first-tier supplier to well-known domestic and international automotive brands, maintaining long-term stable partnerships with numerous international automotive component suppliers [9].

Core Insights - Meili Technology (300611) reported a record high revenue of 900 million yuan for the first half of 2025, representing a year-on-year growth of 25.25% [1] - The company achieved a net profit attributable to shareholders of 80 million yuan, marking a significant increase of 71.98% year-on-year, also a historical high for the same period [1] Financial Performance - The revenue from high-end spring products, particularly suspension system springs, reached 475 million yuan, with a year-on-year growth of 23.20% [3] - The gross margin for suspension system springs improved to 18.05%, an increase of 8.16 percentage points compared to the previous year, indicating strong cost control and enhanced product value [3] - Overall, the company's sales gross margin for the first half of the year was 24.41%, up by 4.12 percentage points year-on-year, while the net profit margin was 9.09%, an increase of 2.73 percentage points [3] - The diluted return on equity (ROE) was 6.53%, reflecting a rise of 2.15 percentage points compared to the same period last year [3] Product and Market Position - Meili Technology specializes in the research, production, and sales of high-end spring products, which are primarily used in the automotive industry, as well as in engineering machinery, aerospace, military, nuclear power, valves, and robotics [3] - The company is also expanding into the humanoid robot sector, with elastic components being applicable in robotic hands and joints, and has received small batch orders for related products such as extension springs, torsion springs, and snap rings [4]

美力科技2025半年报 ...

| | | 浙江美力科技股份有限公司 | 2025 年半年 | | --- | --- | --- | --- | | 度报告摘要 | | | | | 证券代码：300611 证券简称：美力科技 | | | 公告编号： | | 2025-038 | | | | | 浙江美力科技股份有限公司 2025 年半年度报告摘要 | | | | | 一、重要提示 | | | | | 本半年度报告摘要来自半年度报告全文，为全面了解本公司的经营成果、财务状况及未来发展规划，投 | | | | | 资者应当到证监 | | | | | 会指定媒体仔细阅读半年度报告全文。 | | | | | 所有董事均已出席了审议本报告的董事会会议。 | | | | | 非标准审计意见提示 | | | | | □适用 ?不适用 | | | | | 董事会审议的报告期利润分配预案或公积金转增股本预案 | | | | | □适用 ?不适用 | | | | | 公司计划不派发现金红利，不送红股，不以公积金转增股本。 | | | | | 董事会决议通过的本报告期优先股利润分配预案 | | | | | □适用 ?不适用 | | | | | 二、公司基本情况 ...

第五届董事会第十七次会议决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有 虚假记载、误导性陈述或重大遗漏。 证券代码：300611 证券简称：美力科技 公告编号：2025-036 浙江美力科技股份有限公司 表决结果：同意 8 票；反对 0 票；弃权 0 票。 特此公告。 浙江美力科技股份有限公司董事会 二〇二五年八月十二日 浙江美力科技股份有限公司（以下简称"公司"）第五届董事会第十七次会 议,由公司董事长章碧鸿先生召集和主持，会议通知于 2025 年 8 月 1 日，以书面 和通讯方式通知各董事，并于 2025 年 8 月 11 日 9:00，以现场加通讯会议的形 式召开。本次董事会议应到董事 8 名，实到董事 8 名，公司监事和高级管理人员 列席了会议，会议的召开符合《公司法》等有关法律、行政法规、部门规章、规 范性文件及《公司章程》的有关规定。 与会董事经过充分讨论，形成决议如下： 经董事会审议，认为公司2025年半年度报告全文及报告摘要真实反映了公司 记载、误导性陈述或重大遗漏。 本议案已经公司董事会审计委员会审议通过。 具体内容详见公司同日在巨潮资讯网（http://www. ...

一、审议通过《关于 <公司 ensp="ensp" 年半年度报告="年半年度报告"> 及其摘要的议案》 公司监事会审议后认为：董事会编制和审议《公司 2025 年半年度报告》及 其摘要的程序符合法律、行政法规和中国证监会的相关规定，报告内容真实、准 确、完整地反映了公司的实际情况，不存在任何虚假记载、误导性陈述或重大遗 漏。因此一致同意通过该议案。 证券代码：300611 证券简称：美力科技 公告编号：2025-037 浙江美力科技股份有限公司 第五届监事会第十五次会议决议公告 本公司及监事会全体成员保证信息披露内容的真实、准确和完整，没有 虚假记载、误导性陈述或重大遗漏。 浙江美力科技股份有限公司（以下简称"公司"）第五届监事会第十五次会 议,由公司监事会主席吴高军先生召集和主持，会议通知于 2025 年 8 月 1 日，以 书面和通讯方式送达各监事，并于 2025 年 8 月 11 日 14:00，以现场会议的形式 召开。本次监事会议应到监事 3 名，实到监事 3 名，公司董事会秘书列席了会议， 会议的召开符合《公司法》等有关法律、行政法规、部门规章、规范性文件及《公 司章程》的规定。 与会监事经过充分讨 ...