Meeting Overview - The fourth board meeting of Shanghai Weipage Smart Water Co., Ltd. was held on August 25, 2025, with all 9 directors present and voting [1] - The meeting was chaired by Chairman Li Jixi, and the procedures complied with relevant laws and regulations [1] Resolutions Passed - The board unanimously approved the 2025 semi-annual report and summary, with 9 votes in favor [2] - The board also approved the special report on the storage and actual use of raised funds for the first half of 2025, with 9 votes in favor [2] - A resolution to cancel the supervisory board and amend the company’s articles of association was passed, pending approval at the second extraordinary general meeting of shareholders in 2025, with 9 votes in favor [2][3] - The board approved the revision and formulation of certain management systems, with 9 votes in favor [2][3] - The semi-annual evaluation report of the "Quality Improvement and Efficiency Enhancement Action Plan" for 2025 was approved, with 9 votes in favor [3] - The appointment of Mr. Huang Gang as the deputy general manager was approved, with 9 votes in favor [3][4] Employee Stock Ownership Plan - The board discussed and approved the draft of the 2025 Employee Stock Ownership Plan to attract and retain core management and key employees, with 5 votes in favor and 4 abstentions [5] - The management measures for the Employee Stock Ownership Plan were also approved, with 5 votes in favor and 4 abstentions [6] - The board proposed to authorize the board of directors to handle matters related to the Employee Stock Ownership Plan, with 5 votes in favor and 4 abstentions [7][8] Upcoming Actions - The board proposed to convene the second extraordinary general meeting of shareholders in 2025, with 9 votes in favor [8][9]

Meeting Overview - The fourth meeting of the Supervisory Board of Shanghai Weipage Smart Water Co., Ltd. was held on August 25, 2025, in a combination of on-site and communication methods [1] - The meeting complied with the relevant laws and regulations, as well as the company's articles of association [1] Resolutions Passed - The Supervisory Board unanimously approved the "2025 Half-Year Report and Summary," confirming that the report's preparation and review procedures met legal requirements and accurately reflected the company's financial status and operational results [1][2] - The board also approved the "Special Report on the Storage and Actual Use of Raised Funds for the First Half of 2025," with the same unanimous voting outcome [2] - A resolution was passed to cancel the Supervisory Board and amend the company's articles of association in accordance with the new Company Law effective from July 1, 2024, and related regulations [3] - The board discussed the "2025 Employee Stock Ownership Plan (Draft)," which aims to enhance the alignment of interests between employees and shareholders, although the resolution could not be passed due to a lack of non-related supervisors for voting [4][5] - The "Management Measures for the 2025 Employee Stock Ownership Plan" was also discussed but similarly could not be resolved for the same reason [5] Additional Information - The company expressed gratitude to the departing supervisors for their contributions during their tenure [3] - Detailed reports and summaries related to the resolutions can be found on the Shanghai Stock Exchange website [2][5]

证券代码：601058 证券简称：赛轮轮胎 公告编号：临 2025-062 赛轮集团股份有限公司 关于 2023 年员工持股计划第二个锁定期届满 暨解锁条件成就的公告 本公司及董事会全体成员保证公告内容不存在虚假记载、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个别及连带责任。 届董事会第二十八次会议，审议通过了《关于 2023 年员工持股计划第二个锁定 期届满暨解锁条件成就的议案》，具体情况如下： 一、2023 年员工持股计划实施进展 会议和 2023 年第一次临时股东大会，审议通过了《关于公司<2023 年员工持股 计划(草案)>及其摘要的议案》等相关议案，同意公司实施 2023 年员工持股计划。 具体内容详见公司于 2023 年 7 月 18 日、2023 年 8 月 5 日在指定信息披露媒体 披露的临 2023-068、2023-074 号公告。 司出具的《过户登记确认书》，公司回购专用证券账户（B881985595）中所持有 的 59,900,050 股公司股票已于 2023 年 8 月 17 日以非交易过户的方式过户至公 司 2023 年员工持股计划证券账户（B88596901 ...

与会监事发表意见如下：经审核，我们认为公司 2025 年半年度利润分配方 案充分考虑了公司现阶段经营发展需要及资金需求等因素，兼顾公司未来发展和 股东长远利益，符合公司战略发展需要和公司当前的实际情况，未损害公司股东 特别是中小股东的利益。同意公司 2025 年半年度利润分配方案。 表决结果：同意 3 票，反对 0 票，弃权 0 票，表决通过。 与会监事发表意见如下：经审核，我们认为公司编制和审议《2025 年半年 度报告及半年度报告摘要》的程序符合中国证券监督管理委员会、上海证券交易 所相关法律法规的要求，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、误导性陈述或者重大遗漏。 证券代码：601058 证券简称：赛轮轮胎 公告编号：临 2025-059 赛轮集团股份有限公司 第六届监事会第十五次会议决议公告 本公司监事会及全体监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。 赛轮集团股份有限公司（以下简称"公司"）第六届监事会第十五次会议于 实到监事 3 人（其中以通讯表决方式出席 1 人）。会议由监事会主席闫凯先生主 持 ...

Core Viewpoint - The company is holding its third extraordinary general meeting of shareholders in 2025 to discuss several key proposals, including profit distribution, establishment of a wholly-owned subsidiary, capital increase for project implementation, and an employee stock ownership plan [1][5][9]. Proposal Summaries Proposal 1: Mid-Year Profit Distribution Plan - As of June 30, 2025, the company achieved a net profit attributable to shareholders of RMB 139,025,450.88, with distributable profits amounting to RMB 207,419,073.75. The proposed cash dividend is RMB 4.00 per 10 shares, totaling RMB 62,738,732.00, which represents 45.13% of the net profit for the first half of 2025 [6][7]. Proposal 2: Establishment of a Wholly-Owned Subsidiary - The company plans to invest RMB 100 million to establish a wholly-owned subsidiary, Suzhou Xidian New Energy Technology Co., Ltd., to independently develop its FCC workshop. This investment is not considered a related party transaction or a major asset restructuring [9][10]. Proposal 3: Capital Increase for Wholly-Owned Subsidiary - The company intends to use part of the raised funds to increase the capital of its wholly-owned subsidiary, Suzhou Xidian New Energy Vehicle Electronics Co., Ltd., by RMB 100 million, raising its registered capital from RMB 50 million to RMB 150 million. This is aimed at ensuring the smooth implementation of fundraising projects [12][13]. Proposal 4: Renewal of Audit Firm - The company proposes to renew its engagement with Rongcheng Accounting Firm, which has a long history in securities services and has audited 518 listed companies in 2024. The firm has a total revenue of RMB 251,025,800, with audit services contributing RMB 234,862,940 [14][15][19]. Proposal 5: Second Employee Stock Ownership Plan - The company aims to implement a second employee stock ownership plan to enhance the motivation of management and key employees, thereby promoting sustainable development. The plan has been reviewed and approved by the board [21][22].

Core Viewpoint - Cowell Technology Co., Ltd. successfully completed its share repurchase plan aimed at enhancing employee stock ownership and equity incentives for long-term development [1] Repurchase Plan Overview - On August 23, 2024, Cowell's board approved a share repurchase plan using self-owned funds, with a total repurchase amount set between 20 million and 30 million yuan, and a maximum repurchase price of 42.00 yuan per share. The repurchase period is from August 23, 2024, to August 22, 2025 [2] Repurchase Implementation Status - As of August 22, 2025, the company repurchased a total of 991,042 shares, accounting for 1.1788% of the total share capital, with an average repurchase price of 29.42 yuan per share. The total funds used for the repurchase amounted to 29,152,075.63 yuan, with prices ranging from 23.55 yuan to 41.59 yuan per share [3] Stock Trading by Related Parties During Repurchase Period - During the repurchase period, several directors and senior management personnel reduced their holdings. Notably, director Jiang Jiaping sold 1,150,000 shares (1.3679% of total share capital), and other directors and senior management also made reductions, while one senior manager did not sell any shares [4] Share Capital Changes - Before the repurchase, the total share capital was 84,023,969 shares. After completion, it increased to 84,070,709 shares, with 991,042 shares held in a dedicated repurchase account, representing 1.18% of total share capital. This change was partly due to the vesting of shares from the 2021 restricted stock incentive plan [5] Handling of Repurchased Shares - The repurchased shares will be stored in a dedicated account and will not enjoy certain shareholder rights during this period. The company plans to use these shares for equity incentives or employee stock ownership plans, adhering to relevant decision-making procedures and disclosure obligations. The funds used for the repurchase are self-owned and will not significantly impact the company's daily operations or financial status, nor will it lead to a change in control [6]

Core Insights - The company, Jin Chengzi (688291.SH), has demonstrated a clear strategic layout and efficient execution in the capital market since 2025, signaling robust development and laying a solid foundation for long-term competitiveness [1] Employee Stock Ownership Plan and Governance Optimization - In April 2025, the company launched an employee stock ownership plan aimed at core technical personnel and key staff, aligning individual growth with the company's long-term development [2] - This plan enhances team cohesion and signals the company's confidence in future operations, marking a significant step in improving corporate governance [2] - In June 2025, the company initiated a comprehensive review and adjustment of its capital market governance system, including the cancellation of the supervisory board and the election of employee directors, aimed at improving decision-making efficiency [2][3] Mergers and Acquisitions Strategy - In August 2025, the company announced a significant industry chain acquisition plan, intending to acquire 55% of Samit through a combination of share issuance and cash payment [4] - Samit, a quality enterprise in the precision optical control field, reported a revenue of 57.55 million in 2024, a year-on-year increase of 186.24%, and a net profit of 21.05 million, up 722.61% [4] - The acquisition is expected to enhance the company's profitability and leverage synergies in technology, product offerings, customer resources, and supply chain stability [4] Market Response and Strategic Progression - Following the acquisition announcement, nearly 200 institutions have engaged in research on the company, with major investment banks providing positive evaluations of the acquisition [5] - The strategic actions taken by the company in 2025, including the employee stock ownership plan, governance adjustments, and the acquisition, are interconnected and address key developmental challenges [5]

金融界8月25日消息，有投资者在互动平台向博思软件提问："公司员工持股计划为什么转成信托管理？ 难道公司不比信托公司了解公司自己？并且通过信托融资，融到资金只能投资国zhai等低收益产品，很 显然融资是亏本赚吆喝！这个事情存在诸多疑点，网上有人说这是利益输送，公司作何解释？" 针对上述提问，博思软件回应称："投资者您好，公司根据《上市公司实施员工持股计划试点的指导意 见》等有关法律、法规、规范性文件的规定，结合公司第三期员工持股计划的实际情况和员工意愿，公 司将此持股计划管理模式由自行管理变更为委托具备资产管理资质的专业机构进行管理，不涉及利益输 送及其他不正当的交易行为，详情敬请查阅公司于2024年9月24日发布的《关于变更第三期员工持股计 划相关事项的公告》，感谢您的关注。"责任编辑：栎树 ...

Investment Rating - The report maintains a "Recommended" rating for the company, indicating an expected stock price increase of over 15% relative to the benchmark index [4][6]. Core Views - The company is experiencing steady structural upgrades and a stable operational rhythm, with a revenue target of 3.28 billion yuan and a net profit target of 408 million yuan for 2025, reflecting year-on-year growth of 8.56% and 5.11% respectively [4]. - The company continues to optimize its product structure, with high-end products showing strong growth while low-end products face pressure [2][3]. - The company is expanding its market presence both domestically and in other regions, with a focus on strengthening its base in Gansu province [4]. Financial Performance Summary - For the first half of 2025, the company achieved revenue of 1.759 billion yuan, a year-on-year increase of 0.37%, and a net profit of 298 million yuan, up 1.12% [1]. - The sales gross margin for the first half of 2025 was 65.65%, an increase of 0.53 percentage points year-on-year, while the net profit margin was 16.95%, up 0.14 percentage points [3]. - The company reported a total of 960 distributors, with a net increase of 15 in the domestic market and a decrease of 56 in the external market [2]. Product and Market Analysis - The revenue from products priced above 300 yuan increased by 21.60% year-on-year, while products priced between 100-300 yuan grew by 8.93%. However, products priced below 100 yuan saw a decline of 29.78% [2]. - The company’s revenue from Gansu province was 1.334 billion yuan, a decrease of 1.11% year-on-year, while revenue from outside the province increased by 1.78% to 382 million yuan [2]. Future Projections - The company forecasts revenues of 3.073 billion yuan, 3.258 billion yuan, and 3.519 billion yuan for 2025, 2026, and 2027 respectively, with corresponding net profits of 394 million yuan, 422 million yuan, and 467 million yuan [5][9]. - The projected price-to-earnings (P/E) ratios for the next three years are 26, 24, and 22 respectively, indicating a favorable valuation trend [5][9].

Core Viewpoint - Longbai Group reported a decline in revenue and net profit for the first half of 2025, primarily due to falling titanium dioxide prices and low industry demand [1][2]. Financial Performance - In H1 2025, Longbai Group achieved total revenue of 13.342 billion yuan, a year-on-year decrease of 3.35% - The net profit attributable to shareholders after deducting non-recurring items was 1.347 billion yuan, down 19.61% - In Q2 2025, revenue was 6.282 billion yuan, a decline of 3.5% year-on-year and 11.01% quarter-on-quarter - The net profit for Q2 was 688 million yuan, down 8.27% year-on-year [1][2]. Production and Sales - The company produced 682,200 tons of titanium dioxide in H1 2025, an increase of 5.02% year-on-year - Sales volume for titanium dioxide reached 612,000 tons, up 2.08% year-on-year - The average price of titanium dioxide in H1 2025 was 14,648.34 yuan per ton, a decrease of 9.87% year-on-year [2]. Market Conditions - The average price of titanium dioxide in Q2 2025 was 14,831 yuan per ton, down 9.79% year-on-year but up 2.53% quarter-on-quarter - As of August 18, 2025, the domestic average price of titanium dioxide fell to 13,274 yuan per ton, marking the lowest point of the year - The overall production of titanium dioxide in China for H1 2025 was 2.305 million tons, a slight decrease of 0.37% year-on-year [2][3]. Export Performance - In H1 2025, titanium dioxide exports reached 2.5166 million tons, a significant increase of 158.63% year-on-year - However, Q2 2025 exports were 415,600 tons, down 13.97% year-on-year and 17.05% quarter-on-quarter [2][3]. Shareholder Engagement - The company initiated a share repurchase plan in June 2025, having repurchased 1,564,600 shares by July 31, 2025, representing 0.0656% of total shares, with a total transaction amount of 25.48 million yuan - This move is aimed at enhancing shareholder value and reflects management's confidence in the company's long-term prospects [4]. Dividend Distribution - On June 10, 2025, the company completed its first-quarter dividend distribution, paying 5.00 yuan per 10 shares, totaling 1.186 billion yuan - This distribution aligns with the company's ongoing strategy to reward shareholders [5]. Earnings Forecast - Due to the downturn in the titanium dioxide industry, the company's revenue forecasts for 2025-2027 are adjusted to 27.582 billion, 29.885 billion, and 31.071 billion yuan respectively - Expected net profits for the same period are 2.684 billion, 3.603 billion, and 4.289 billion yuan, with corresponding EPS of 1.12, 1.51, and 1.80 yuan per share [6].