Summary of Key Points Core Viewpoint The company, Huqin Technology Co., Ltd., has completed certain fundraising projects and plans to permanently supplement its working capital with the remaining funds from these projects, following a thorough review by its sponsor, China International Capital Corporation (CICC) [1][9]. Fundraising Basic Information - The company raised a total of RMB 585,195.95 million through its initial public offering, with a net amount of RMB 573,068.36 million after deducting issuance costs, including an oversubscription amount of RMB 23,068.36 million [1][2]. - The funds have been deposited in a dedicated account, and a tripartite/four-party supervision agreement has been signed with the sponsor and the bank [2]. Investment Project Status - The total investment amount for the projects is RMB 669,690.48 million, with RMB 573,068.36 million available for use [3]. - As of May 2025, the Shanghai Emerging Technology R&D Center project and the Wuxi R&D Center Phase II project have reached the predetermined usable status, leading to their conclusion [3][4]. Remaining Funds and Their Use - The remaining funds amount to RMB 34,974.92 million, which will be used to permanently supplement the company's working capital [3][5]. - The company aims to improve the efficiency of fund usage and reduce financial costs through this allocation [6][7]. Reasons for Fund Surplus - The surplus is attributed to effective cost control and resource optimization during project implementation, which did not affect the completion of the fundraising projects [5][6]. - Strategic adjustments in the R&D team and dynamic optimization of construction plans contributed to reduced expenditures [6]. Approval Process and Opinions - The proposal to conclude the fundraising projects and use the surplus funds requires approval from the shareholders' meeting [8]. - The Strategic and Sustainable Development Committee and the Supervisory Board have both expressed support for the proposal, indicating it does not harm the interests of the company or its shareholders [8][9]. Sponsor's Verification Opinion - The sponsor, CICC, has verified that the decision to conclude the projects and use the surplus funds is prudent and aligns with regulatory requirements, ensuring no adverse impact on the company's operations [9].

Core Viewpoint - The report discusses the conditions for the first unlock period of the restricted stock incentive plan of Huqin Technology Co., Ltd, indicating that the necessary approvals and conditions have been met for the release of shares [1][6]. Group 1: Incentive Plan Overview - The first unlock period for the reserved grant of the incentive plan is set to last from the completion of the grant registration on August 20, 2024, until the last trading day within 24 months [6]. - The first unlock period will expire on August 20, 2025, allowing for the release of shares under specific conditions [6]. Group 2: Conditions for Unlocking Shares - The company must not have any adverse audit reports or fail to meet performance distribution conditions [8]. - The performance assessment targets for the first unlock period include a revenue growth rate of 28.76% and a net profit growth rate of 8.10% [8]. - A total of 29 eligible individuals can unlock 187,881 shares, which represents 0.0185% of the company's total share capital [8]. Group 3: Approval and Compliance - The independent financial advisor confirms that the incentive plan has received necessary approvals and complies with relevant laws and regulations [9]. - The report emphasizes that the conditions for unlocking shares have been achieved, and there are no circumstances that would harm the interests of the company or its shareholders [9].

Core Viewpoint - The legal opinion letter discusses the conditions for the first release of restrictions on the stock options of Huqin Technology Co., Ltd., the repurchase and cancellation of certain restricted stocks, and the adjustment of repurchase prices as part of the company's 2023 stock incentive plan [1][3]. Summary by Sections Approval and Authorization of the Release of Restrictions - The board and supervisory committee meetings held on December 12, 2023, and subsequent meetings approved the relevant proposals regarding the stock incentive plan [3]. - The first grant of the incentive object list was publicly disclosed on December 13, 2023, and internal disclosure occurred on December 19, 2023 [3]. - The first extraordinary general meeting of shareholders in 2024 approved the proposals related to the stock incentive plan [3]. - The necessary authorizations and approvals for the release of restrictions, repurchase, and adjustments have been obtained, complying with relevant regulations [3][6]. Specifics of the Release of Restrictions - The first release period for the reserved grant of restricted stocks is from August 20, 2024, to August 20, 2025 [5]. - The conditions for the release of restrictions have been met, including no adverse audit reports and the achievement of performance targets [5][6]. - A total of 29 out of 31 reserved grant incentive objects meet the release conditions, with 187,881 shares eligible for release, accounting for 0.0185% of the total share capital [6]. Details of the Repurchase and Cancellation - The company decided to repurchase and cancel a total of 22,236 shares due to two incentive objects leaving the company and four others not meeting performance requirements [6][7]. - The adjusted repurchase price for the restricted stocks is set at 28.05 yuan per share, following the implementation of the 2024 profit distribution plan [7][8]. - The total payment for the repurchase is confirmed by the company, and the repurchase aligns with relevant regulations [7][8]. Adjustments to the Repurchase Price - The repurchase price adjustment is based on the profit distribution plan, ensuring compliance with the incentive plan regulations [8]. - The formula for adjusting the repurchase price considers the dividend per share, ensuring the adjusted price remains above 1 yuan [8]. Conclusion - The legal opinion confirms that all actions taken regarding the release of restrictions, repurchase, and adjustments comply with the relevant laws and regulations [8].

证券代码：603296 证券简称：华勤技术 公告编号：2025-071 ? 本次符合解除限售条件的激励对象人数：29 人 ? 本次可解除限售的限制性股票数量： 187,881 股，占目前公司总股本的 0.0185%。 ? 本次限制性股票待相关解除限售上市申请完成后，公司将发布相关解锁暨上市的 公告，敬请投资者注意。 华勤技术股份有限公司 关于 2023 年限制性股票激励计划预留授予部分 第一个解除限售期解除限售条件成就的公告 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、准确性和完整性承担法律责任。 重要内容提示： 一、2023 年限制性股票激励计划批准及实施情况 届董事会第二次会议和第二届监事会第二次会议，审议通过了《关于 <公司 ensp="ensp" 年限制="年限 制"> 性股票激励计划（草案）>及其摘要的议案》《关于 <公司 ensp="ensp" 年限制性股票激励计划实="年限 制性股票激励计划实"> 施考核管理办法>的议案》等议案。公司独立董事就 2023 年限制性股票激励计划（以下 简称"本激励计划"或"激励计划"）的相关事项发表了独立意 ...

（文章来源：证券日报） 证券日报网讯 8月22日晚间，华勤技术发布公告称，公司第二届董事会第十八次会议审议通过了《关于 2023年限制性股票激励计划预留授予部分第一个解除限售期解除限售条件成就的议案》等多项议案。 ...

Group 1: Company Announcements - Changjiang Electric Power's controlling shareholder, China Three Gorges Group, plans to increase its stake in the company by 4 billion to 8 billion yuan within the next 12 months through secondary market transactions [1] - Huakin Technology is planning to issue H-shares and list on the Hong Kong Stock Exchange to enhance its international strategy and overseas business development [2] - Tailin Microelectronics is planning to acquire all or part of the equity of Shanghai Panqi Microelectronics through a combination of share issuance and cash payment, with trading suspended for up to 10 trading days [3] - Jingwang Electronics intends to invest 5 billion yuan in expanding its Zhuhai Jinwan base to enhance its competitiveness in high-end products related to AI and other technologies [5] - Jiangsu Guotai plans to use up to 12 billion yuan of idle funds for entrusted wealth management in low-risk financial products [6] Group 2: Financial Performance - Ping An Bank reported a 3.9% year-on-year decline in net profit for the first half of 2025, with a proposed cash dividend of 2.36 yuan per 10 shares [1][9] - Several companies reported significant increases in net profit, including Zhezhang Securities with a 46.49% increase and Keg Precision Machinery with a 144% increase [7] - True Love Home reported a net profit of 197 million yuan, a year-on-year increase of 484.48% [8] - Companies like Kunlun Wanwei and Vanke A reported substantial losses, with net losses of 856 million yuan and 11.947 billion yuan respectively [9]

（编辑 姚尧） 证券日报网讯 8月22日晚间，华勤技术发布公告称，公司第二届监事会第十五次会议审议通过了《关于 2023年限制性股票激励计划预留授予部分第一个解除限售期解除限售条件成就的议案》等多项议案。 ...

Project Investment - Qihang Tenda plans to invest 70 million in an 8000 tons/year high-performance catalytic new materials project [2] - Jingwang Electronics intends to invest 5 billion in expanding its Zhuhai Jinwan base [2] - Hualu Hengsheng plans to invest 3.039 billion in upgrading its gasification platform [2] Operating Data - China Electric Power Construction Company signed new contracts totaling 736.133 billion from January to July, representing a year-on-year increase of 4.3% [2] H-share Listing - Kexing Pharmaceutical plans to prepare for an H-share listing [2] - Huqin Technology is planning to issue H-shares and list on the Hong Kong Stock Exchange [2] Equity Acquisition - Chongqing Water intends to acquire 100% equity of Yujing Water for 354 million [2] Share Buyback - Jingao Technology plans to repurchase shares worth 200 million to 400 million [2] - Wandong Medical intends to repurchase shares worth 30 million to 60 million [2] Performance - Longi Green Energy reported a net loss of 2.569 billion in the first half of the year [2] - Hengsheng Electronics achieved a net profit of 261 million in the first half, a year-on-year increase of 771.57% [2] Increase/Decrease of Holdings - Zijin Investment plans to reduce its holdings by no more than 3% in Shun'an Environment [2] - Changjiang Electric's controlling shareholder intends to increase holdings by 4 billion to 8 billion [2] Other - Jin Yi Technology plans to raise no more than 1 billion through a private placement to its actual controller Luo Ruifa and his controlled enterprises [2] - Longhua New Materials plans to issue convertible bonds to raise no more than 960 million [2]

Investment Rating - The industry investment rating is "Positive" and maintained [7] Core Viewpoints - Supernodes are the new generation of computing infrastructure, with leading companies in the computing industry launching supernode products to address performance bottlenecks in large model training and inference, particularly in communication speed [2][10] - The introduction of supernodes is expected to enhance the value across multiple computing segments, suggesting investment opportunities in related sectors of the industry chain [2][10] Summary by Sections Event Description - Global computing leaders like NVIDIA and Huawei are set to launch supernode products in 2025, with NVIDIA's GB200 and Huawei's Ascend 384 supernode being notable examples [4][10] - Inspur also announced its supernode AI server "Yuan Brain SD200" at the 2025 Open Computing Technology Conference, capable of running trillion-parameter models [4][10] Technical Insights - Supernodes, initially proposed by NVIDIA, utilize high-bandwidth interconnections among GPUs to form a scalable system, significantly improving computing density and communication complexity compared to traditional AI servers [10] - The architecture of supernodes supports parallel computing tasks, accelerating parameter exchange and data synchronization, thus shortening training cycles for large models [10] Investment Opportunities - The report suggests focusing on investment opportunities in the following areas: 1. Leading domestic AI chip companies like Cambricon 2. Supernode server manufacturers 3. Supporting manufacturers for supernode components such as PCBs and liquid cooling systems 4. Partners related to Huawei's supernode initiatives [10]

Major Events - TaiLing Micro plans to acquire equity in Panqi Micro and raise matching funds, with stock suspension starting August 25, 2025, for up to 10 trading days [3] - Six shareholders of VeriSilicon Limited and others plan to transfer 5% of shares through inquiry, with a minimum transfer price set at 70% of the average stock price over the previous 20 trading days [4] - HuaQin Technology is planning to issue H-shares and list on the Hong Kong Stock Exchange to enhance international strategy and financing capabilities [5][6] - HuaYang LianZhong will be subject to other risk warnings starting August 26, 2025, with a stock name change to ST HuaYang due to an administrative penalty [7] - Kexing Pharmaceutical is planning to issue H-shares and list on the Hong Kong Stock Exchange, with details pending board and shareholder approval [8] - Wanchen Group is also planning to issue H-shares and apply for listing on the Hong Kong Stock Exchange to enhance brand recognition and competitiveness [9] Performance Overview - Tongwei Co. reported a net loss of 4.955 billion yuan for the first half of 2025, with revenue of 40.509 billion yuan, a 7.51% decrease year-on-year [10] - CRRC Corporation achieved a net profit of 7.246 billion yuan, a 72.48% increase, with revenue of 119.758 billion yuan, up 32.99% [11] - Chunzhong Technology reported a net loss of 40.02 million yuan, with revenue down 44.85% to 129 million yuan [12][13] - Shengen Co. saw a 926% increase in net profit to 48.8379 million yuan, with revenue of 209 million yuan, up 66.53% [14] - Keg Precision reported a net profit of 67.142 million yuan, a 144.18% increase, with revenue of 454 million yuan, up 26.22% [15] - Silan Micro achieved a net profit of 26.5 million yuan, recovering from a loss of 24.924 million yuan in the previous year [16] - Ping An Bank reported a net profit of 24.87 billion yuan, a 3.9% decrease, with revenue of 69.385 billion yuan, down 10% [17] - Ganfeng Lithium reported a net loss of 531 million yuan, with revenue of 8.376 billion yuan, down 12.65% [18] - Dongxin Co. reported a net loss of 111 million yuan, with revenue of 343 million yuan, up 28.81% [19] - Kunlun Wanwei reported a net loss of 856 million yuan, with revenue of 3.733 billion yuan, up 49.23% [21] - Tonghuashun reported a net profit of 502 million yuan, a 38.29% increase, with revenue of 1.779 billion yuan, up 28.07% [22] - Hualin Securities reported a net profit of 336 million yuan, a 172.72% increase, with total revenue of 835 million yuan, up 35.15% [23] - JiuGui Jiu reported a net profit of 895,500 yuan, a 92.6% decrease, with revenue of 561 million yuan, down 43.54% [24] - Vanke A reported a net loss of 11.947 billion yuan, with revenue of 105.323 billion yuan, down 26.23% [25] Shareholding Changes - Changjiang Electric plans to increase its holdings by 4 to 8 billion yuan within 12 months through various methods [26] - Shengnuo Bio's shareholders plan to reduce their holdings by up to 3.43% [27]