2025 年度定期现场检查报告 国信证券股份有限公司 关于浙江同星科技股份有限公司 （本页无正文，为《国信证券股份有限公司关于浙江同星科技股份有限公司 2025 年度定期现场检查报告》之签字盖章页） 保荐代表人： 李 李秋实 傅毅清 | 保荐人名称：国信证券股份有限公司 被保荐公司简称：同星科技 | | | | | | --- | --- | --- | --- | --- | | 保荐代表人姓名：李秋实 | 联系电话：0571-85316112 | | | | | 保荐代表人姓名：傅毅清 联系电话：0571-85316112 | | | | | | 现场检查人员姓名：李秋实、傅毅清 | | | | | | 现场检查对应期间：2025年度 | | | | | | 现场检查时间：2025年12月16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（包括但不限于本指引第三十三条所列）： | | | | | | 1.公司章程和公司治理制度是否完备、合规 | | √ | | | | 2.公司章程和股东会、董事会规则 ...

国信证券股份有限公司 关于浙江同星科技股份有限公司 2025 年度持续督导培训的报告 浙江同星科技股份有限公司（以下简称"同星科技"或"公司"）首次公开 发行股票并于 2023 年 5 月 25 日在深圳证券交易所创业板挂牌交易。国信证券股 份有限公司（以下简称"保荐机构"或"我公司"）作为本次发行的保荐机构， 指定李秋实、傅毅清担任保荐代表人，持续督导的期间为 2023 年 5 月 25 日至 2026 年 12 月 31 日。 根据相关规定，我公司保荐代表人及督导项目组人员于 2025 年 12 月 16 日 对公司董事、高级管理人员及上市公司控股股东和实际控制人等进行了 2025 年 度培训，具体情况汇报如下： 一、培训时间： 2025 年 12 月 16 日 二、培训地点： 同星科技会议室 三、参加培训人员和方式 本次培训得到同星科技的积极配合，通过培训，同星科技主要董事、高级管 理人员及其他相关人员更加全面、细致地了解了上市公司再融资的主要方式和差 1 异点、优缺点；并且对上市公司股东的减持方式及特点和要求有了更深入的了解， 以此为基础更好地为后续的规划做准备。 （以下无正文） 2 （本页无正文，为 ...

Group 1 - The core viewpoint of the news is that the home appliance components sector experienced a decline of 1.45% on December 16, with the leading stock, Tongxing Technology, falling significantly [1] - The Shanghai Composite Index closed at 3824.81, down 1.11%, while the Shenzhen Component Index closed at 12914.67, down 1.51% [1] Group 2 - In terms of capital flow, the home appliance components sector saw a net outflow of 297 million yuan from main funds, while retail investors contributed a net inflow of 218 million yuan [2] - Speculative funds recorded a net inflow of 78.7366 million yuan into the sector [2]

Core Insights - The latest financing balance of the ChiNext market is 539.282 billion yuan, with a week-on-week increase of 2.667 billion yuan, indicating a positive trend in financing activities [1][2] - A total of 28 stocks saw their financing balances increase by over 10%, while 48 stocks experienced a decline of more than 5% [1][3] Financing Balance Overview - The total margin balance for ChiNext stocks reached 541.163 billion yuan, marking an increase of 2.683 billion yuan over the previous trading day, continuing a four-day upward trend [1] - The financing balance specifically increased to 539.282 billion yuan, with a week-on-week rise of 2.667 billion yuan, also reflecting four consecutive days of growth [1][3] Stocks with Significant Financing Balance Increases - The stock with the highest increase in financing balance is Jiangxin Home, which saw a 42.54% rise to 23.7837 million yuan, with a corresponding price increase of 3.36% [3] - Other notable stocks with significant increases include Feili Hua (29.83% increase) and Boying Special Welding (26.10% increase) [3][4] - On average, stocks with over 10% increase in financing balance rose by 2.54% on the same day, with top performers including Xiaocheng Technology (13.66% increase) and Boying Special Welding (10.74% increase) [1][3] Stocks with Decreased Financing Balances - A total of 492 stocks experienced a decrease in financing balance, with 48 stocks declining by more than 5% [4] - The stock with the largest decrease is Tongxing Technology, which saw a 16.93% drop to 11.5867 million yuan [4] - Other significant declines were noted in Jingxue Energy (15.62% decrease) and Huanle Home (15.48% decrease) [4][5] Capital Flow Analysis - Among the stocks with increased financing balances, 17 stocks saw net inflows of main funds, with Feili Hua leading at 338 million yuan [2] - Conversely, 11 stocks experienced net outflows, with Nanshan Zhishang facing the largest outflow of 82.0863 million yuan [2]

Core Insights - The latest financing balance of the ChiNext market is 539.282 billion yuan, with a week-on-week increase of 2.667 billion yuan, indicating a positive trend in financing activities [1][2] - A total of 28 stocks saw their financing balances increase by over 10%, while 48 stocks experienced a decline of more than 5% [1][4] Financing Balance Overview - The total margin balance for ChiNext stocks reached 541.163 billion yuan, marking an increase of 2.683 billion yuan over the previous trading day, continuing a four-day upward trend [1] - The financing balance specifically rose to 539.282 billion yuan, with a week-on-week increase of 2.667 billion yuan, also reflecting a four-day increase [1] - The margin trading balance for short selling (融券余额) was 1.881 billion yuan, with a week-on-week increase of 16.42 million yuan [1] Stocks with Significant Financing Balance Increases - The stock with the highest increase in financing balance is Jiangxin Home (匠心家居), which saw a 42.54% increase, bringing its latest financing balance to 23.7837 million yuan, while its stock price rose by 3.36% [3] - Other notable stocks with significant increases include Feili Hua (菲利华) with a 29.83% increase and a financing balance of 2224.5776 million yuan, and Boying Special Welding (博盈特焊) with a 26.10% increase [3][4] - On average, stocks with over 10% increase in financing balance rose by 2.54% on the same day, with top performers including Xiaocheng Technology (晓程科技) at 13.66% [1][3] Stocks with Significant Financing Balance Decreases - A total of 492 stocks experienced a decrease in financing balance, with 48 stocks declining by more than 5% [4] - The stock with the largest decrease is Tongxing Technology (同星科技), which saw a 16.93% drop in financing balance, bringing it to 11.5867 million yuan [4][5] - Other significant decliners include Jingxue Energy (晶雪节能) and Huanle Home (欢乐家), with decreases of 15.62% and 15.48% respectively [4][5]

Market Performance - The home appliance parts sector increased by 2.19% on December 8, with Tongxing Technology leading the gains [1] - The Shanghai Composite Index closed at 3924.08, up 0.54%, while the Shenzhen Component Index closed at 13329.99, up 1.39% [1] Key Stocks in Home Appliance Parts Sector - Tongxing Technology (301252) closed at 29.18, up 5.99% with a trading volume of 95,700 shares and a transaction value of 280 million yuan [1] - Tianyin Electromechanical (300342) closed at 22.26, up 5.90% with a trading volume of 1,078,700 shares and a transaction value of 2.479 billion yuan [1] - Sanhua Intelligent Control (002050) closed at 46.80, up 3.77% with a trading volume of 2,568,700 shares and a transaction value of 11.771 billion yuan [1] - Haidar (6690ZG) closed at 51.13, up 2.77% with a trading volume of 5,035 shares and a transaction value of 25.41 million yuan [1] - Longdi Group (603726) closed at 22.94, up 2.73% with a trading volume of 91,800 shares and a transaction value of 20.8 million yuan [1] Capital Flow Analysis - The home appliance parts sector experienced a net outflow of 446 million yuan from institutional investors, while retail investors saw a net inflow of 335 million yuan [2] - The sector's overall capital flow indicates a mixed sentiment, with institutional investors withdrawing funds while retail investors are actively buying [2] Individual Stock Capital Flow - Hai Li Co. (600619) had a net inflow of 17.52 million yuan from institutional investors, while retail investors had a net outflow of 1.86 million yuan [3] - Qi Jing Machinery (603677) saw a net inflow of 12.30 million yuan from institutional investors, with retail investors also experiencing a net outflow of 410.76 thousand yuan [3] - Han Yu Group (300403) had a net inflow of 7.83 million yuan from institutional investors, while retail investors had a net inflow of 1.92 million yuan [3]

Core Viewpoint - Guangdong Hengjin Metal Co., Ltd. (referred to as "Hengjin Metal") has submitted an application for listing on the Beijing Stock Exchange, but its "clear-out dividend" strategy may pose a significant obstacle to its IPO due to excessive cash dividends that raise concerns about the authenticity of its financial disclosures [1][5][19]. Financial Performance - Hengjin Metal's revenue and net profit have shown significant fluctuations, with revenue of 9.5 billion yuan in 2022, 8.44 billion yuan in 2023, and projected growth to 10.19 billion yuan in 2024, while net profit figures were 1.14 billion yuan, 0.94 billion yuan, and expected to rise to 1.15 billion yuan in 2024 [3][16][17]. - The company has implemented cash dividends totaling 264 million yuan over the last three years, which accounts for 81.73% of its net profit of 323 million yuan during the same period, exceeding the 80% threshold set by regulatory guidelines [4][18][19]. Dividend Concerns - The cash dividends have raised questions regarding the authenticity of financial disclosures, as discrepancies exist between the reported dividend amounts in the prospectus and previous filings, particularly regarding the 2022 dividend of 24.885 million yuan [5][21]. - The majority of the cash dividends have flowed to the controlling shareholder, Junhui International, and its affiliates, leading to a significant reduction in the company's cash and assets [1][8][22]. Research and Development - Hengjin Metal has the lowest R&D expense ratio compared to its peers, with R&D expenses of 20.637 million yuan in 2022, representing only 2.17% of revenue, while the average for comparable companies exceeds 3% [15][23][24]. - The company attributes its low R&D expense ratio to the sale of metal waste generated during R&D activities, which reduces the reported costs [24][25]. Sales Performance - The company relies heavily on export sales, with export revenue accounting for over 55% of total revenue in recent years, and the gross margin for export sales significantly exceeds that of domestic sales, with a difference of 18-27 percentage points [10][25][26]. - The gross margin for export sales was reported at 30.44% in 2022, while domestic sales only achieved a margin of 12.65% [10][25]. Control and Governance Issues - The actual controller of Hengjin Metal, Sun Zhiheng, has been declared legally incapacitated, raising questions about the governance and decision-making capabilities within the company [12][27][28]. - Despite being recognized as the actual controller, concerns remain regarding whether Sun Zhiheng can effectively protect the company's interests and make significant strategic decisions [27][28].

证券代码：301252 证券简称：同星科技 公告编号：2025-049 浙江同星科技股份有限公司 关于控股股东、实际控制人及其一致行动人持股比例被 动稀释触及 1%和 5%整数倍的公告 （1）本次变动后的具体股数以中国证券登记结算有限责任公司深圳分公司的最终数据为准； （2）以上数值若出现总数与各分项数值之和尾数不符，均为四舍五入原因所致。 特此公告。 浙江同星科技股份有限公司 董事会 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。 浙江同星科技股份有限公司（以下简称"公司"）于近日在中国证券登记结算 有限责任公司深圳分公司办理完成 2024 年限制性股票激励计划首次授予部分第一 期股份归属手续，本次归属股份共计 1,025,440 股于 2025 年 11 月 28 日上市流通， 公司总股本由 168,200,000 股增加至 169,225,440 股，导致公司控股股东新昌县同星 投资有限公司、实际控制人张良灿先生、张天泓先生、张情怡女士及其一致行动人 新昌县天勤投资管理合伙企业（有限合伙）在合计持股比例由 70.00%被动稀释至 69.58%，权益变动触 ...

Core Viewpoint - On November 28, a total of 11 companies had their restricted shares unlocked, with a total unlock volume of 109 million shares, amounting to a market value of 2.599 billion yuan based on the latest closing price [1] Summary by Category Unlock Volume - The companies with the highest unlock volumes are Shunfa Gas, EVE Energy, and Xianheng International, with unlock shares of 75.5263 million, 27.6107 million, and 2.167 million shares respectively [1] Unlock Market Value - In terms of unlock market value, EVE Energy, Shunfa Gas, and Xianheng International lead with values of 1.979 billion yuan, 506 million yuan, and 40.6955 million yuan respectively [1] Unlock Ratio - The companies with the highest unlock ratios relative to their total share capital are Shunfa Gas, EVE Energy, and Tongxing Technology, with ratios of 16.45%, 1.33%, and 0.61% respectively [1]

（文章来源：证券日报） 证券日报网讯 11月26日晚间，同星科技发布关于2024年限制性股票激励计划首次授予部分第一个归属 期归属结果暨股份上市的公告称，公司本次归属人数：146人。本次归属的股票来源：公司向激励对象 定向发行本公司A股普通股股票。本次归属的限制性股票数量：102.544万股，占公司目前总股本的比例 为0.61%。本次归属的股票上市流通日期：2025年11月28日。 ...