宏发科技股份有限公司 股东会议事规则 (2025 年 7 月修订) 第一章 总则 第一条 为规范宏发科技股份有限公司（以下简称"公司"或"本公司"）行为，保证 股东会依法行使职权，股东会根据《中华人民共和国公司法》 （以下简称《公司法》 ）、《中华 人民共和国证券法》（以下简称《证券法》）、《上市公司股东会规则》（以下简称《股东会规 则》）等有关法律、法规、规范性文件和《宏发科技股份有限公司章程》 （以下简称《公司章 程》），制定本议事规则。 第二条 公司应当严格按照法律、行政法规、本规则及公司章程的相关规定召开股东会， 保证股东能够依法行使权利。 股东会可以授权董事会对发行公司债券作出决议。 第五条 股东会分为年度股东会和临时股东会。年度股东会每年召开一次，应当于上一 会计年度结束后的 6 个月内举行。临时股东会不定期召开，有下列情形之一的，应当在 2 个月内召开临时股东会会议： （一）董事人数不足《公司法》规定人数或者公司章程所定人数的三分之二时； 公司在上述期限内不能召开股东会的，应当报告公司所在地中国证券监督委员会（以下 简称中国证监会）派出机构和公司股票挂牌交易的证券交易所（以下简称证券交易所） ， ...

宏发科技股份有限公司 对外担保制度 （2025 年 7 月修订） 第一章 总则 第一条 为规范宏发科技股份有限公司(以下简称"公司")对外担保的管理， 保护公司财产安全，控制财务和经营风险，根据《中华人民共和国公司法》《中 华人民共和国证券法》（以下简称"《证券法》"）、《中华人民共和国民法典》《上 海证券交易所股票上市规则》（以下简称"《上市规则》"）、《上市公司监管指引 第 8 号—— 上市公司资金往来、对外担保的监管要求》 《上海证券交易所上市公 司自律监管指引第 1 号——规范运作》及《宏发科技股份有限公司章程》（以下 简称"《公司章程》"）、的有关规定，特制定本制度。 第二条 公司制定本制度的目的是强化公司内部监控，完善对公司担保事项 的事前评估、事中监控、事后追偿与处置机制，尽可能地防范因被担保人财务状 况恶化等原因给公司造成的潜在偿债风险，合理避免和减少可能发生的损失。 第三条 本制度所称对外担保是指公司为他人提供的担保，包括公司对其控 股子公司的担保。本制度所称担保，是指公司以第三人身份，为他人提供的保证、 抵押或质押。 具体种类包括借款担保，银行开立信用证、银行开具承兑汇票、 保函等担保。公 ...

宏发科技股份有限公司 董事离职管理制度 （2025 年 7 月制定） 第一章 总则 ??（一）合法合规原则：严格遵守国家法律法规、监管规定及《公司章程》的要求； ??（二）公开透明原则：及时、准确、完整地披露董事离职相关信息； ??（三）平稳过渡原则：确保董事离职不影响公司正常经营和治理结构的稳定性； ??（四）保护股东权益原则：维护公司及全体股东的合法权益。 第二章 董事离职情形与程序 ??第三条 公司董事离职包含任期届满未连任、主动辞职、被解除职务以及其他导致董事 实际离职等情形。 ??第四条 公司董事可以在任期届满以前辞职，董事辞职应当向公司董事会提交书面辞职 报告，辞职报告中应说明辞职原因，董事会收到辞职报告之日辞职生效，公司将在两个交易 日内披露有关情况。 第五条 如存在下列情形，辞职报告应当在下任董事填补因其辞职产生的空缺后方能生 效。在辞职报告生效之前，拟辞职董事仍应当按照有关法律法规和《公司章程》的规定，履 行董事职务，但存在相关法规另有规定的除外： ??第一条 为规范宏发科技股份有限公司（以下简称"公司"）董事离职程序，保障公司 治理结构稳定性和股东合法权益，根据《中华人民共和国公司法》（以 ...

Investment Rating - The report maintains a "Recommended" rating for the company [3][6]. Core Insights - The company reported a revenue of 8.347 billion yuan for H1 2025, a year-on-year increase of 15.43%, and a net profit attributable to shareholders of 964 million yuan, up 14.19% year-on-year [1]. - The company continues to enhance operational efficiency and invest in research and development, completing 462 new product development projects with a completion rate of 90% [2]. - The demand for relays across various downstream sectors is improving, with notable growth in consumer electronics, industrial equipment, and automotive sectors [2][3]. - New product categories are showing strong momentum, including a 31% increase in shipments of film capacitors and a 36% increase in current sensors [3]. Financial Performance Summary - For H1 2025, the company achieved a gross margin of 34.67% and a net profit margin of 16.82% [1]. - The forecasted revenues for 2025, 2026, and 2027 are 16.412 billion yuan, 18.904 billion yuan, and 21.847 billion yuan, respectively, with growth rates of 16.4%, 15.2%, and 15.6% [3][5]. - The projected net profits for the same years are 1.915 billion yuan, 2.269 billion yuan, and 2.670 billion yuan, with growth rates of 17.4%, 18.5%, and 17.7% [3][5].

证券日报网讯 7月29日晚间，宏发股份发布公告称，2025年上半年实现归属于上市公司股东的净利润 964，160，111.44元，同比增长14.19%。 （文章来源：证券日报） ...

Group 1: QDII Funds and Market Trends - Several QDII funds have announced subscription limits, with the Wan Ke Nasdaq 100 Index Fund restricting single-day subscriptions to a maximum of 500,000 yuan [1] - The Guotai S&P 500 ETF and the top-performing fund of the first half of the year, Huatai-PB Hong Kong Advantage Selection Mixed Fund, have completely stopped accepting new subscriptions [1] - Since July, multiple overseas-listed Chinese stock ETFs have seen significant capital inflows, with five large ETFs collectively attracting nearly 3 billion USD [1] Group 2: Nonferrous Metals Industry - In the first half of 2025, the value-added growth rate of China's regulated nonferrous industry increased by 7.6%, with the production of ten common nonferrous metals reaching 40.32 million tons, a year-on-year increase of 2.9% [2] - The nonferrous metal industry has maintained stable operations, with fixed asset investment growing by 16.1% compared to the same period last year [2] Group 3: PCB Industry - The PCB industry has seen a significant improvement in market conditions compared to the previous year, particularly for high-end products driven by AI hardware upgrades [2] - Major manufacturers like Dongshan Precision and Huitian Technology are focusing on increasing production capacity for high-end PCB products due to strong demand and rising prices [2] Group 4: Corporate Announcements - China CNR Corporation announced the signing of several major contracts totaling approximately 32.92 billion yuan, covering various sectors including urban rail vehicles and wind power equipment [5] - Hongfa Co., Ltd. reported a net profit of 964 million yuan for the first half of 2025, reflecting a year-on-year growth of 14.19% [5] - Enhua Pharmaceutical reported a net profit of 700 million yuan for the first half of 2025, an increase of 11.38% year-on-year [7] - Guobang Pharmaceutical achieved a net profit of 456 million yuan in the first half of 2025, up 12.60% year-on-year [8]

宏发股份（600885）7月29日晚披露2025年半年度报告，报告期内，公司实现营业收入83.47亿元，同比 增长15.43%；实现净利润9.64亿元，同比增长14.19%；扣非净利润9.27亿元，同比增长17.85%；公司经 营效率指标显示，人均销售回款65.4万元，同比增长8.9%。 宏发股份拥有七大核心事业部，50余家子公司（含境外企业），全球雇员15000余人，继电器年出货量 超过30亿只，厂房面积逾100万平方米，已形成了较为完备的继电器及电气产品产业链，涵盖了生产设 备的设计与制造、零部件生产、成品生产以及产品的销售。 今年上半年，宏发股份以提升市场份额为中心，把握新能源及汽车产业发展机遇，在宏观经济不确定性 高，材料价格快速上涨，部分行业竞争加剧的外部环境下，主要经营指标继续实现良好增长。公司主营 继电器产品整体取得良好增长，市场份额稳固，各个下游未出现明显短板。 具体来看，1—6月，宏发股份低压开关及成套业务同比略有增长，主要受国内建筑配电市场不景气及关 税扰动海外发货节奏影响，公司通过开拓新能源及工业、电网等应用市场，形成新的增长点，推动低压 开关业务整体保持平稳发展。公司薄膜电容器发货同比 ...

人民财讯7月29日电，宏发股份（600885）7月29日晚间披露2025年半年度报告，上半年实现营业收入 83.47亿元，同比增长15.43%；净利润9.64亿元，同比增长14.19%，基本每股收益0.66元。 ...

Core Viewpoint - The article highlights concerns regarding the discrepancies in signatures of key executives at Xuchang Intelligent during its IPO process, raising questions about the integrity of its financial disclosures and the company's governance practices [1][11][14]. Group 1: Company Background - Xuchang Intelligent Relay Co., Ltd. specializes in the research, design, assembly, sales, and service of smart power distribution products, new energy products, and power engineering contracting [7]. - The company is set to officially list on the Beijing Stock Exchange on January 26, 2024, with Minsheng Securities as its sponsor [5]. Group 2: Financial Performance - In 2024, Xuchang Intelligent reported a revenue of 629,547,222.50 yuan, an increase of 7.37% compared to the previous year [8][10]. - The net profit attributable to shareholders was 42,462,092.47 yuan, reflecting a decrease of 8.40% year-on-year [8][10]. Group 3: IPO and Regulatory Issues - Prior to the IPO approval on September 14, 2023, the company and its key executives received a warning letter from the Beijing Stock Exchange due to financial data misreporting [11][12]. - The company failed to adequately assess the risks associated with receivables from a group of companies that were listed as dishonest executors, leading to a miscalculation in bad debt provisions [13][14]. - A correction announcement revealed adjustments to the financial statements, reducing the 2022 net profit by 370.95 million yuan, which constituted an 8.14% adjustment [13][14].

Group 1: Company Overview - The company is a high-tech enterprise specializing in the research, manufacturing, and sales of relays and transformers, ranking among the top in China's electronic components industry [2] - The product range includes six major categories: general power relays, magnetic latching relays, automotive relays, new energy relays, photovoltaic relays, and signal relays, along with inductors and transformers [2] - Future plans focus on strengthening core products while diversifying based on market demand and company strengths [2] Group 2: Industry Trends - The relay industry is heavily influenced by downstream market demand, with traditional markets like automotive and home appliances showing stable growth [3] - Emerging industries such as new energy, AI, smart manufacturing, and 5G are creating new market opportunities for relays [3] Group 3: International Expansion - The company aims to increase its overseas revenue share, particularly in the general and power relay sectors, which currently dominate international sales [3] - Plans include enhancing the overseas layout of key products and recruiting high-end talent for technical support and marketing [3] - The company has established subsidiaries in North America, South Korea, Germany, and Vietnam, with the Vietnam subsidiary already in production [3] Group 4: Financial Goals and Strategies - For 2025, the company will focus on "technology-driven, global expansion, and lean operations" to achieve high-quality growth [4] - The strategy includes increasing market share in core businesses and expanding into high-value regions with localized services [4] - Continuous upgrades in smart manufacturing and supply chain integration are planned to enhance operational efficiency [4]