Core Viewpoint - Shenzhen Zhihui Precision Technology Co., Ltd. (智动力) is actively engaging in financial management and risk mitigation strategies, including a stock incentive plan and foreign exchange hedging activities, to enhance operational efficiency and shareholder value [1][2][3]. Group 1: Trading Information - As of July 18, 2025, Zhihui's stock closed at 9.94 yuan, down 0.9%, with a turnover rate of 2.51% and a trading volume of 48,600 shares, amounting to a transaction value of 48.48 million yuan [1]. - On the same day, the fund flow showed a net outflow of 1.70 million yuan from institutional investors, while retail investors contributed a net inflow of 1.58 million yuan [5]. Group 2: Company Announcements - The fourth board meeting on July 17, 2025, approved several resolutions, including the 2025 restricted stock incentive plan and the management measures for its implementation [1]. - The company plans to hold its second extraordinary general meeting on August 4, 2025, to discuss various proposals, including the stock incentive plan and the use of idle funds for cash management [2]. Group 3: Financial Management Initiatives - Zhihui plans to use up to 600 million yuan of idle funds for cash management, focusing on low-risk financial products with high liquidity and safety [2]. - The company intends to engage in foreign exchange hedging activities to mitigate currency fluctuation risks, with a maximum margin and premium of 5 million yuan and a maximum contract value of 2 billion yuan per trading day [3][5]. Group 4: Risk Management Policies - The company has established a financial derivatives trading management system to regulate trading activities and prevent risks associated with foreign exchange and interest rate fluctuations, explicitly prohibiting speculative trading [6].

Core Viewpoint - The article emphasizes the importance of observing industrial concentration at both regional and industry levels to avoid "involution" and promote healthy industrial development [2][4]. Regional Perspective: Core Industries of Each Province - The average revenue share of the top-ranked industry in 30 provinces is 19.7%, with notable provinces exceeding 20%: Jilin (42.3% in automotive), Shanxi (38.7% in coal mining), Hebei (29.6% in black metal smelting), Beijing (28.4% in electric heat), Guangdong (25.7% in electronic equipment manufacturing), Hainan (25.6% in fuel processing), Shanghai (20.9% in automotive), Inner Mongolia (20.7% in coal mining), and Chongqing (20.6% in electronic equipment manufacturing [4][10]. - The combined revenue share of the top five industries in each province averages 54.9%, with higher concentrations in provinces like Hainan (66.4%), Shanxi (71.7%), Beijing (70.6%), Jilin (69.3%), Ningxia (67%), and Qinghai (79.5%) [4][10]. Industry Perspective: Advantageous Regions for Each Industry - The top five provinces in terms of industrial revenue account for 47.4% of the national industrial revenue, with Guangdong, Jiangsu, Zhejiang, Shandong, and Fujian being the largest [5][13]. - The average concentration of the top five industries across 41 sectors is 59.7%, with lower concentrations observed in sectors such as non-ferrous metal mining, food processing, and pharmaceutical manufacturing [5][13]. - In the midstream equipment manufacturing sector, notable concentration levels include electrical machinery (66.2%), electronic equipment (63.1%), and instruments (68.8%) [5][13]. Industry Presence Across Provinces - Eight industries, including electric heat, electronic equipment, and automotive, rank among the top five in revenue across more than ten provinces, indicating significant investment in these sectors [6][14]. - Conversely, industries like pharmaceutical manufacturing and specialized equipment manufacturing are only ranked in the top five in a limited number of provinces, highlighting potential areas for growth or investment [6][14].

Core Viewpoint - The event "Overseas Investors Entering the Guangdong-Hong Kong-Macao Greater Bay Area Listed Companies" was held in Shenzhen and Dongguan, aiming to enhance engagement between overseas investors and Shenzhen-listed companies [1] Group 1: Event Overview - The event was organized by the Shenzhen Stock Exchange and involved representatives from over 20 overseas sovereign funds and large long-term asset management institutions [1] - Nearly 40 representatives visited three Shenzhen-listed companies: Luxshare Precision, Megmeet, and CIMC Vehicles [1] Group 2: Future Plans - The Shenzhen Stock Exchange plans to steadily expand its openness under the leadership of the China Securities Regulatory Commission [1] - There will be efforts to deepen and broaden services for overseas investors, facilitating more interactions between quality Shenzhen-listed companies and overseas investors [1] - The initiative aims to attract more overseas medium to long-term capital into the market, sharing new opportunities from China's high-quality economic development [1]

Core Viewpoint - The legal opinion letter from Guangdong Xinda Law Firm confirms the compliance and legality of Shenzhen Zhihua Precision Technology Co., Ltd.'s 2025 Restricted Stock Incentive Plan, indicating that the plan aligns with relevant laws and regulations [2][33]. Group 1: Legal Framework and Compliance - The legal opinion is based on various laws including the Company Law, Securities Law, and relevant regulations governing stock incentive plans [2][5]. - The firm has verified that the company is legally established and in good standing, having been listed on the Shenzhen Stock Exchange since August 4, 2017 [5][6]. - The company has fulfilled necessary legal procedures for implementing the incentive plan, including board and committee approvals [23][29]. Group 2: Incentive Plan Details - The 2025 Restricted Stock Incentive Plan aims to enhance shareholder value and promote sustainable development [8][31]. - The plan includes a total of 11 million shares to be granted, representing 4.22% of the company's total share capital [12][13]. - The first grant will consist of 8.8 million shares, approximately 3.38% of the total share capital [13]. Group 3: Eligibility and Distribution - The plan targets 215 individuals, including senior management and key technical personnel, with specific exclusions for independent directors and supervisors [9][10]. - The distribution of the first category of restricted stock will be allocated among various key personnel, ensuring no individual exceeds 1% of the total share capital through all incentive plans [15][14]. - The plan stipulates conditions under which individuals may lose their eligibility, including recent disqualifications by regulatory bodies [11][10]. Group 4: Financial Considerations - The company has committed not to provide financial assistance to participants in the incentive plan, ensuring compliance with regulatory requirements [29][31]. - The plan's structure and conditions are designed to protect the interests of the company and its shareholders, with no apparent conflicts of interest [31][32]. Group 5: Next Steps - The plan requires approval from the shareholders' meeting to become effective, with necessary disclosures to be made in accordance with legal requirements [34][28]. - The company will continue to fulfill its disclosure obligations and ensure transparency throughout the implementation process [29][34].

Core Viewpoint - The document outlines the financial derivatives trading management system of Shenzhen Zhihua Precision Technology Co., Ltd., emphasizing risk prevention and internal management in derivatives trading activities [1][2]. Group 1: General Principles - The system aims to regulate the financial derivatives trading behavior of the company and its subsidiaries, focusing on preventing foreign exchange and interest rate risks [1][2]. - Financial derivatives include but are not limited to forward foreign exchange contracts, foreign exchange swaps, foreign exchange options, and interest rate swaps [1][2]. Group 2: Trading Operations - The company and its subsidiaries are prohibited from engaging in speculative trading; all derivatives transactions must be based on actual business operations to mitigate risks [2][3]. - Derivatives trading must only be conducted with qualified financial institutions approved by regulatory bodies [3][4]. Group 3: Approval Authority - The company's board of directors and shareholders' meeting serve as the decision-making bodies for derivatives trading, with specific approval processes outlined for different transaction scenarios [4][5]. - Transactions that exceed certain thresholds must be submitted for additional approval from the shareholders' meeting [4][5]. Group 4: Management and Internal Processes - The finance center is responsible for managing derivatives trading, including planning, operations, and financial accounting [5][6]. - A strict separation of duties and responsibilities is required to ensure independent operations within the derivatives trading process [5][6]. Group 5: Risk Management - The company must implement proactive risk control measures to identify and mitigate credit, market, operational, and legal risks associated with derivatives trading [7][8]. - In case of significant anomalies in trading activities, the finance department must report and propose solutions to the management [8][9]. Group 6: Information Disclosure - The company is required to disclose information regarding its derivatives trading activities in accordance with regulations from the China Securities Regulatory Commission and the Shenzhen Stock Exchange [9][10]. - Any significant losses or risks must be reported promptly through temporary announcements [9][10].

Core Viewpoint - The document outlines the information disclosure deferral and exemption management system for Xiamen Yingqu Technology Co., Ltd, aiming to regulate the disclosure of information, protect investors' rights, and ensure compliance with relevant laws and regulations [1][2][3]. Group 1: General Principles - The system is established to standardize the deferral and exemption of information disclosure, ensuring that information disclosure obligations are fulfilled legally and compliantly [1]. - Information disclosure obligations must be fulfilled truthfully, accurately, completely, timely, and fairly, without abusing deferral or exemption to mislead investors or engage in illegal activities [1][2]. Group 2: Scope of Deferral and Exemption - Information disclosure can be deferred or exempted if it involves state secrets or other matters that may violate confidentiality regulations, provided there is sufficient evidence [2][3]. - Business secrets can also be deferred or exempted if their disclosure could lead to unfair competition or harm the interests of the company or others [2][3]. Group 3: Internal Management - The company must maintain a record of deferral and exemption actions, including the type of documents and information involved, and the internal review process [5][6]. - If the reasons for deferral or exemption are resolved, the company must promptly disclose the information and provide reasons for its classification as a business secret [4][5]. Group 4: Accountability and Compliance - The company has established a responsibility accountability mechanism for deferral and exemption actions, with potential penalties for those who fail to comply with the regulations [6][7]. - The document emphasizes that any conflicting provisions in other company regulations will defer to this system [7].

Core Points - The document outlines the operational guidelines for the President of Xiamen Yingqu Technology Co., Ltd, focusing on governance, responsibilities, and qualifications [2][3][4] Group 1: General Provisions - The guidelines aim to standardize the company's behavior and improve the decision-making level of the President [2] - The President is responsible for daily operations and management, implementing board resolutions, and reporting to the board [2][3] Group 2: Qualifications and Appointment Procedures - The President must possess extensive economic and management knowledge, leadership skills, and relevant industry experience [3][4] - The appointment and dismissal of the President are decided by the board, with a term of three years [3][4] Group 3: Responsibilities of the President - The President has the authority to manage daily operations, implement annual plans, and propose the hiring or dismissal of senior management [4][5] - The President must ensure the protection and appreciation of company assets and comply with company regulations [7][8] Group 4: Meeting and Reporting Procedures - The President is required to hold monthly meetings to discuss significant operational matters and report to the board at least once a month [10][12] - The President must ensure the authenticity of reports regarding major contracts, financial status, and operational progress [12][14] Group 5: Evaluation and Rewards - The evaluation of the President's performance is based on various financial metrics, including total assets, net profit, and revenue growth [14][15] - The board may grant material rewards for outstanding performance during the President's term [15]

Core Points - The company aims to enhance its employee incentive system by providing interest-free loans for first-time home purchases to alleviate housing burdens and attract key talent [1][2] - The total fund for the interest-free loan pool is set at 50 million RMB, which will be recycled for future employee loan applications [6][10] - Eligible employees must have been with the company for at least two years and meet specific performance criteria [2][3] Group 1: General Provisions - The purpose of the employee housing loan management measures is to support employees in achieving stable living conditions and to retain core talent [1] - The policy applies to the company and its domestic subsidiaries, excluding Hong Kong, Macau, Taiwan, and overseas entities [1][2] Group 2: Eligibility Criteria - Applicants must be long-term contract employees with at least two years of service and satisfactory performance in the previous year [2][3] - Employees in certain positions, such as major shareholders and senior management, are excluded from applying for the loans [1][2] Group 3: Loan Application and Approval Process - Applicants must submit a completed loan application form along with necessary documentation, including proof of no existing property ownership [4][5] - The approval process involves verification of submitted materials and a public announcement of the results [6][9] Group 4: Loan Amount and Terms - The maximum loan amount is capped at 500,000 RMB per employee, not exceeding the minimum down payment required for the property [6][8] - Borrowers must repay the loan within five years, with the option for early repayment [11][15] Group 5: Repayment and Default Provisions - Employees who leave the company must repay the loan in full before departure [14][19] - The company reserves the right to charge interest on overdue payments based on the People's Bank of China’s benchmark rate [7][19] Group 6: Supervision and Penalties - Employees found to have provided false information during the application process will face penalties, including loan recovery and potential termination [22][24] - The Human Resources department is responsible for monitoring compliance and ensuring proper use of company resources [23][26]

Core Viewpoint - The document outlines the external investment management system of Xiamen Yingqu Technology Co., Ltd, emphasizing the need for internal control, risk prevention, and compliance with relevant laws and regulations. Group 1: General Principles - The external investment refers to the company's activities to invest monetary or non-monetary assets for future returns [1] - The investment is categorized into short-term and long-term investments based on the duration [2] - The system applies to all external investment activities of the company and its subsidiaries [2] Group 2: Decision-Making Authority - The decision-making authority for external investments is divided among the company's president, board of directors, and shareholders [3] - Specific thresholds for board approval include transactions involving assets over 10% of the company's audited total assets or net assets [4][5] Group 3: Investment Management Structure - The Securities Affairs Department and Financial Center are responsible for analyzing investment projects and conducting due diligence [7] - The president oversees the implementation of investment projects and reports progress to the board [7] Group 4: Short-term and Long-term Investment Procedures - Short-term investment decisions involve pre-selection by the Securities Affairs Department and approval by the relevant authority [9] - Long-term investments require feasibility studies and must be approved by the board or shareholders depending on the amount [10][11] Group 5: Securities Investment - The company can only use its own funds for securities investments and must adhere to strict control measures [12][13] - Securities investments exceeding 10% of the company's audited net assets require board approval, while those over 50% require shareholder approval [12][13] Group 6: Entrusted Financial Management - The company must select qualified financial institutions for entrusted financial management and disclose relevant information [14][15] - The total amount of entrusted financial management exceeding 10% of the company's audited net assets requires board approval [14] Group 7: Joint Investments with Professional Institutions - Joint investments with professional institutions must be disclosed, including the maximum potential loss [16][17] - The company must establish mechanisms to prevent conflicts of interest during joint investments [18] Group 8: Recovery and Transfer of Investments - The company can recover investments under specific circumstances, such as project completion or bankruptcy [47] - The procedures for transferring investments are similar to those for approving new investments [49] Group 9: Rights Waiver - The company may voluntarily waive rights related to its investments, which must be disclosed if they significantly impact the company [51][53] Group 10: Financial Management and Auditing - The Financial Center is responsible for maintaining comprehensive financial records of investments and conducting regular audits [58][60] - Annual audits of subsidiaries are required to ensure compliance and protect the company's interests [60]

Meeting Overview - The third session of the Supervisory Board held its 11th meeting, which was conducted both in-person and via communication methods [1] - The meeting's resolutions were deemed legally valid according to relevant regulations [1] Fund Utilization Adjustments - The company plans to adjust the amount of raised funds allocated to the "Annual Production of 86.5 Million Electric Tool Smart Components Expansion Project" from 486.08 million yuan to 444.16 million yuan due to a shortfall in actual raised funds [1] - The adjustment does not change the intended use of the funds and is based on the company's operational needs and future development plans [1] Issuance Costs and Fund Replacement - As of July 16, 2025, the company has pre-paid issuance costs amounting to 5.28 million yuan, with 551.96 thousand yuan paid from self-raised funds [2][3] - The Supervisory Board confirmed that the replacement of raised funds for previously paid issuance costs complies with regulations and does not affect the normal implementation of investment projects [2][3] Cash Management Plans - The company intends to use idle raised funds up to 350 million yuan and idle self-owned funds up to 200 million yuan for cash management, with a validity period of 12 months [4] - The cash management products will be low-risk and high-liquidity, ensuring the safety and efficiency of fund usage [4] Loan to Subsidiary - The company plans to provide an interest-free loan of up to 389.36 million yuan to its wholly-owned subsidiary, Zhangjiagang Huajie Electronics Co., Ltd., to support the expansion project [5] - This loan aligns with the company's funding plan and does not alter the intended use of raised funds [5] Changes in Company Structure - The company has completed its public offering of 25 million shares and has changed its status to a publicly listed company [6] - The company will no longer have a Supervisory Board, with its functions transferred to the Audit Committee of the Board of Directors [7][8] Profit Distribution Plan - The company proposes a cash dividend of 0.40 yuan per share, totaling 40 million yuan, which represents 90.27% of the net profit attributable to shareholders for Q1 2025 [9] - This distribution plan is in accordance with legal regulations and the company's profit distribution policy [9]