国电南自（600268）公告，公司拟以自有资金对全资子公司南京国电南自轨道交通工程有限公司增资 4500万元。增资前南自轨道注册资本为5500万元，增资后将增至1亿元。本次增资旨在提高南自轨道的 抗风险能力及核心竞争力，满足市场开拓需要。增资事项已经公司2025年第一次临时董事会会议审议通 过，不构成关联交易或重大资产重组。南自轨道2024年营业收入3.62亿元，净利润3085.28万元。 ...

General Provisions - The purpose of the guidelines is to regulate the work behavior of the president and other senior management of Shenzhen Invt Electric Co., Ltd., ensuring they perform their duties in accordance with relevant laws and the company's articles of association [1][2] - The president and senior management must act faithfully and diligently to protect the company's interests within the scope of authority granted by the articles of association or the board of directors [1][2] Authority and Appointment Procedures - The company has one president with a term of three years, who can be reappointed. The president is recommended by the chairman and appointed or dismissed by the board of directors [2][3] - The president has various responsibilities, including managing production and operations, implementing board resolutions, and proposing the appointment or dismissal of vice presidents and financial officers [2][3] President's Working Mechanism - The president's decision-making is primarily conducted through the president's office meetings, which discuss and decide on operational matters [2][3] - The president is responsible for the decisions made in these meetings, and other attendees have rights to suggest, inquire, and vote [2][3] Reporting Responsibilities - The president must submit an annual written report to the board of directors covering business operations, financial status, and market development [5][6] - The president is required to report any significant incidents or major contractual matters to the board promptly [5][6] Miscellaneous Provisions - Any matters not covered by these guidelines will follow relevant national laws and regulations [7] - The board of directors is responsible for interpreting and revising these guidelines, which take effect upon approval [7]

Core Points - The document outlines the management and confidentiality of insider information for Shenzhen Invt Electric Co., Ltd, ensuring fair and just information disclosure to protect the rights of investors and stakeholders [1][2][3] - Insider information is defined as information that has not been publicly disclosed and could significantly impact the company's operations, finances, or stock prices [1][2] - The document establishes a framework for identifying and managing individuals who have access to insider information, including company executives, major shareholders, and relevant personnel [2][3][4] Insider Information Management - The company must maintain accurate and complete records of insider information and the individuals who are privy to it, with the board secretary responsible for this task [3][4] - Individuals with insider information must confirm their knowledge and the company must report this information to the stock exchange within five trading days after the information is publicly disclosed [3][4] - The document mandates that all relevant parties, including shareholders and service institutions, must cooperate in maintaining accurate insider information records [4][5] Confidentiality and Accountability - Individuals with insider information are obligated to keep it confidential and are prohibited from trading based on this information or disclosing it to others [6][7] - The company must refuse any unreasonable requests for insider information from major shareholders or actual controllers [6][7] - In cases of information leakage or abnormal stock price fluctuations, the company is required to disclose relevant information immediately [6][7] Record Keeping and Compliance - Insider information records and significant event memoranda must be maintained for at least ten years [6][7] - The document specifies that any violations of the insider information management rules may result in penalties, including legal action against those involved [7][8] - The company reserves the right to pursue accountability for any damages caused by unauthorized disclosure of insider information [8][10]

Core Viewpoint - The company has established a comprehensive mechanism to respond to public opinion and manage potential impacts on its stock price and reputation, ensuring the protection of investors' rights and interests [1][2]. Group 1: General Principles - The company aims to enhance its ability to respond to various public opinions and establish a rapid response and emergency handling mechanism [1]. - Public opinion is defined as events involving the company that attract social attention, including negative or false media reports, rumors, and information that may affect investor sentiment [1]. Group 2: Organizational Structure and Responsibilities - A public opinion management working group has been established, led by the chairman of the board, with members including the president, board secretary, and other senior management [2]. - The working group is responsible for decision-making, assessing the impact of public opinion, coordinating external communications, and reporting to regulatory bodies [2]. Group 3: Classification and Handling of Public Opinion Information - Public opinion information is classified into major public opinion, which significantly affects the company's image or operations, and general public opinion, which does not have such severe impacts [3]. - The company must respond promptly and effectively to public opinion, maintaining objective communication and guiding public perception [4]. Group 4: Reporting and Response Procedures - The securities and investment department must report any public opinion information to the board secretary immediately [10]. - In the case of major public opinion, the working group will convene to make decisions on handling strategies, including real-time monitoring and communication with media and investors [11]. Group 5: Confidentiality and Accountability - Internal units and personnel have a confidentiality obligation regarding public opinion information, and violations may lead to internal disciplinary actions or legal consequences [13][14]. - The company reserves the right to pursue legal action against media that disseminate false or misleading information that harms its public image [15]. Group 6: Supplementary Provisions - Any matters not covered by these rules will be executed according to relevant national laws and regulations [16]. - The board of directors is responsible for interpreting and revising this system, which will take effect upon approval [17].

中国证监会近日发布的《上市公司募集资金监管规则》（下称《监管规则》），强调募集资金应专款专 用，用于主营业务，且超募资金不得用于永久补充流动资金和偿还银行借款。上海证券报记者梳理2025 年A股新发布的定增预案发现，科创类上市公司的再融资呈现聚焦主业的鲜明特征，且募资集中在"纵 向深耕"与"全栈发展"两大使用方向。 但同时，仍有不少公司公告拟使用超募资金永久补充流动资金。业内人士告诉记者，后续此类操作将大 幅减少。新规限制超募"补流"、压缩理财期限，意味着"先圈钱再找项目"与短炒理财的套利空间被大幅 挤压，对资金沉淀严重的公司形成倒逼，更多募资将投向实体项目或回购注销。 新规明确募集资金应聚焦主业 作为资本市场的"源头活水"，募集资金的规范使用直接关系到上市公司的健康发展与投资者信心。《监 管规则》以"专款专用、聚焦主业"和"严控超募资金用途"为两大核心抓手，为A股市场的资金生态和上 市公司行为划定了更为清晰和严格的红线。 同时，《监管规则》还明确了募集资金用途改变的情形，包括取消或者终止原募投项目而实施新项目或 者永久补充流动资金，变更募投项目实施主体或实施方式等，在此基础上强调擅自改变募集资金用途适 用的 ...

Investment Rating - The report assigns a "Buy" rating for the company, marking its first coverage [1][10]. Core Insights - The company is transitioning from a dealer-centric model to a direct sales approach, aiming to expand its second growth curve [5]. - The company has shown strong revenue growth, with a 13.50% year-on-year increase in 2024, reaching 1.7 billion yuan, and a 14.25% increase in Q1 2025 [2][10]. - The company is actively developing key components for humanoid robots, indicating a strategic move into high-growth sectors [5][10]. Revenue and Profitability - In 2024, the company achieved a net profit of 229 million yuan, reflecting a 14.84% year-on-year increase [2]. - The revenue breakdown for 2024 shows significant contributions from various segments, with programmable logic controllers (PLC) generating 648 million yuan, a 21.09% increase, and drive systems contributing 806 million yuan, a 10.57% increase [3][10]. Business Segments - The PLC segment has a gross margin of 56.25%, while the drive systems segment has a gross margin of 24.46% [3]. - The company is expanding its presence in high-end manufacturing industries such as renewable energy, semiconductors, and robotics [3][4]. Market Performance - The company's stock has outperformed the CSI 300 index significantly, with a 123.8% increase over the past 12 months [7]. - As of May 16, 2025, the stock price is 65.42 yuan, with a market capitalization of approximately 10.28 billion yuan [7][11]. Future Projections - Revenue forecasts for 2025 to 2027 are projected at 1.99 billion yuan, 2.32 billion yuan, and 2.72 billion yuan, respectively, with corresponding net profits of 274 million yuan, 335 million yuan, and 405 million yuan [9][10]. - The report anticipates a continued increase in profitability, with a projected return on equity (ROE) rising from 10% in 2024 to 12% by 2027 [11].

公司2025年Q1实现营收3.9亿元，同比增长14.3%，环比变化-22.0%；实现归母净利润0.46亿元，同比增长 3.5%，环比变化-15.3%；扣非归母净利润0.4亿元，同比增长8.2%，环比变化-11.1%。 毛利率稳步提升，研发投入维持高位。盈利方面，公司2024年销售毛利率/净利率分别为37.7%/13.4%，分别 同比变化1.9pp/0.1pp。公司2025年Q1销售毛利率/净利率分别为38.1%/11.8%，分别同比变化-0.9pp/-1.2pp。 费用方面，公司2024年销售/管理/研发/财务费用率分别为11.4%/4.8%/9.8%/-0.2%，分别同比变化 2.0pp/0.2pp/0.1pp/0.0pp。 伺服毛利率趋稳向上，产品迭代降本增效。2024年公司伺服系统实现收入8.1亿元，同比增长10.6%，毛利 率为24.5%，同比增长0.2pp。公司通过自主研发，推出DS5系列高性能伺服，产品性能优异，稳定可靠，销 售占比持续提升。此外，公司积极推进变频器、步进电机等产品应用，VH5、VH6系列变频器受到市场的 广泛好评，公司变频驱动产品销售超过4500万，同比增长近40%。 PLC业务 ...

证券代码： 002339 证券简称：积成电子 积成电子股份有限公司投资者关系活动记录表 编号：2025-001 | 投资者关系活动 | □特定对象调研 分析师会议 □ | | | | --- | --- | --- | --- | | 类别 | 业绩说明会 □ 媒体采访 √ | | | | | □ 新闻发布会 □ 路演活动 | | | | | □ 现场参观 | | | | | □ 其他 （请文字说明其他活动内容） | | | | 参与单位名称及 | 参加 2024 年度网上业绩说明会的投资者 | | | | 人员姓名 | | | | | 时间 | 年 月 日 (周一) 下午 2025 15:00~17:00 | 5 | 12 | | 地点 | 公司通过全景网"投资者关系互动平台"（https://ir.p5w.net） | | | | | 采用网络远程的方式召开业绩说明会 | | | | 上市公司接待人 | 1、董事长王良 | | | | 员姓名 | 2、总经理严中华 | | | | | 3、财务负责人秦晓军 | | | | | 4、独立董事艾芊 | | | | | 5、董事会秘书刘慧娟 | | | | 投资 ...

Financial Performance - The company reported a total revenue of 692 million yuan for Q1 2025, representing a year-on-year increase of 44.76% compared to 478 million yuan in Q1 2024 [1] - The net profit attributable to the parent company for Q1 2025 was -6.35 million yuan, an improvement of 48.39% from -12.30 million yuan in Q1 2024 [1] - The gross margin decreased to 12.15%, down 39.83% year-on-year from 20.20% [1] - The net margin improved to -0.68%, a 75.42% increase from -2.78% [1] - Total expenses (selling, administrative, and financial) amounted to 67.49 million yuan, accounting for 9.76% of revenue, a decrease of 38.56% year-on-year [1] Cash Flow and Financial Ratios - The company reported a negative operating cash flow per share of -0.32 yuan, which is an improvement of 63.20% from -0.88 yuan [1] - The cash and cash equivalents decreased to 662.1 million yuan, down 7.79% from 717 million yuan [1] - The ratio of cash to current liabilities is 60.53%, indicating potential liquidity concerns [4] Business Strategy and Market Position - The company focuses on integrating information technology with manufacturing, emphasizing a dual strategy of digitalization and green technology [4][5] - The business model relies heavily on marketing-driven performance, necessitating a thorough examination of the underlying drivers [3] - The company aims to enhance its core competitiveness by optimizing operational strategies and forming collaborative industry ecosystems [5]

Financial Performance - The company reported a basic earnings per share of -0.0100 yuan for Q1 2025, an improvement of 80% compared to -0.0500 yuan in Q1 2024 [1] - The operating revenue for Q1 2025 was 0.83 billion yuan, representing a 31.75% increase from 0.63 billion yuan in Q1 2024 [1] - The net profit for Q1 2025 was -0.01 billion yuan, showing an 80% improvement from -0.05 billion yuan in Q1 2024 [1] - The return on equity for Q1 2025 was -0.10%, a significant improvement from -0.85% in Q1 2024 [1] Shareholder Structure - The top ten unrestricted shareholders hold a total of 49.4475 million shares, accounting for 47.25% of the circulating shares, with a change of 32,700 shares from the previous period [1] - Shandong Kehui Investment Co., Ltd. is the largest shareholder, holding 28.3233 million shares, which is 27.06% of the total share capital [2] - New entrant Shenzhen Huayi Oriental Technology Co., Ltd. holds 0.92 million shares, representing 0.88% of the total share capital [2] Dividend Policy - The company has announced that it will not distribute dividends or transfer shares in the current period [3]