证券代码：688155 证券简称：先惠技术 公告编号：2025-050 上海先惠自动化技术股份有限公司 第四届董事会第二次会议决议公告 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、准确性和完整性依法承担法律责任。 一、董事会会议召开情况 具体内容详见同日在上海证券交易所网站（www.sse.com.cn）披露的《上海先 惠自动化技术股份有限公司 2025 年半年度报告》及《上海先惠自动化技术股份有 限公司 2025 年半年度报告摘要》 本议案已经董事会审计委员会事前审议通过。 表决结果：同意 7 票，反对 0 票，弃权 0 票，审议通过。 上海先惠自动化技术股份有限公司（以下简称"公司"）第四届董事会第二次 会议于 2025 年 8 月 29 日以现场结合通讯方式召开。本次会议的通知于 2025 年 8 月 26 日通过电子邮件方式送达全体董事。本次会议应到董事 7 人，实际出席董事 本次会议召集、召开符合《中华人民共和国公司法》（以下简称"《公司法》"）和 《上海先惠自动化技术股份有限公司章程》 （以下简称"《公司章程》"）的有关规 定，形成的决议合 ...

Core Viewpoint - The legal opinion letter from Grandall Law Firm (Shenzhen) confirms that Shanghai Buke Automation Co., Ltd. has obtained the necessary approvals and authorizations for adjusting the exercise price of stock options under its 2023 and 2025 incentive plans, in compliance with relevant regulations [2][10]. Group 1: Approval and Authorization of Incentive Plans - The 2023 stock option incentive plan has been approved and authorized, with independent directors providing opinions on related proposals [4][5]. - The 2025 stock option incentive plan has also been approved, with relevant proposals reviewed and independent directors abstaining from voting on related matters [9][10]. Group 2: Adjustment of Exercise Price - The adjustment of the exercise price for the stock options is based on the provisions of the 2023 and 2025 incentive plans, which require adjustments in the event of capital increases, stock dividends, or other similar actions [10][11]. - The specific adjustment formula for the exercise price is defined as P = P0 - V, where P0 is the pre-adjustment exercise price, V is the dividend per share, and P is the post-adjustment exercise price [11]. Group 3: Legal Compliance and Conclusion - The legal opinion asserts that the adjustment matters have received the necessary approvals and are in line with the relevant regulations of the management measures and incentive plans [11][12].

Core Viewpoint - The company has announced adjustments to the stock option incentive plan for 2023 and 2025, specifically regarding the exercise price of the stock options [1][9][10] Group 1: Approval Procedures - The 2023 stock option incentive plan has undergone necessary approval procedures, including independent opinions from directors and verification by the supervisory board [1][2][3] - The supervisory board has verified the list of incentive objects for the 2023 plan and issued relevant opinions [2][6] - The 2025 stock option incentive plan has also completed the required approval processes, with similar verification and opinions from the supervisory board [5][6][7] Group 2: Adjustment Details - The exercise price for the stock options under the 2023 and 2025 incentive plans has been adjusted to 37.88 yuan per share [5][9] - The adjustment of the exercise price is in accordance with the company's profit distribution plan, which included a cash dividend of 0.3 yuan per share, totaling 25.2 million yuan [8][9] Group 3: Impact of Adjustments - The adjustments made to the exercise prices of the stock option plans are compliant with relevant regulations and will not materially affect the company's financial status or operational results [9][10] - The supervisory board has confirmed that the adjustments are legal and do not harm the interests of the company or its shareholders [9][10]

Fundraising Overview - The company raised a total of RMB 180 million through the issuance of convertible bonds, with a net amount of RMB 172.93 million after deducting underwriting fees and other expenses [1][3] - The funds were deposited in a designated account at Shanghai Pudong Development Bank [3] Fund Utilization and Balance - As of June 30, 2025, the company has utilized RMB 129.48 million of the raised funds, with RMB 3.04 million remaining in the dedicated account [2][4] - The total net amount of raised funds was RMB 173.33 million, with RMB 51.70 million allocated for permanent working capital [2][4] Fund Management - The company has established a management system for the use of raised funds, ensuring compliance with relevant laws and regulations [2] - A tripartite supervision agreement was signed with the underwriter and the bank to ensure proper management of the funds [3] Project Investment and Adjustments - The company has replaced RMB 15.70 million of self-raised funds with the raised funds for investment projects [5] - The "Intelligent Manufacturing Production Line Expansion Project" has been completed and is now operational, with surplus funds being allocated for working capital [6][10] Financial Performance - The company has not used idle funds for temporary working capital or invested in financial products during the reporting period [5][6] - The company has achieved cost savings in project implementation through various measures, including optimizing project layouts and reducing construction costs [10]

关于召开 2025 年半年度业绩说明会的公告 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。 证券代码：603960 证券简称：克来机电 公告编号：2025-039 上海克来机电自动化工程股份有限公司 重要内容提示： ? 会议召开时间：2025 年 9 月 10 日(星期三)下午 13:00-14:00 ? 会议召开地点：上海证券交易所上证路演中心 （一） 会议召开时间：2025 年 9 月 10 日（星期三）下午 13:00-14:00 （二） 会议召开地点：上海证券交易所"上证路演中心"网络平台 （http://roadshow.sseinfo.com） （三） 会议召开方式：上证路演中心网络互动 三、 参加人员 （网址：http://roadshow.sseinfo.com/） ? 会议召开方式：上证路演中心网络互动 ? 投资者可于 2025 年 9 月 3 日(星期三)至 9 月 9 日（星期二）16:00 前登 录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 kelai.jidian@sh-kelai.c ...

Core Viewpoint - The company establishes a comprehensive system for external guarantees to protect shareholder and investor interests, control asset operation risks, and promote stable development [1]. Group 1: General Principles - The company primarily does not provide guarantees for third parties outside of its controlling subsidiaries, unless approved by authorized company institutions [2]. - All external guarantees must be approved by the board of directors or shareholders' meeting following legal procedures [2]. - The company requires collateral or guarantees from the guaranteed party to mitigate potential risks [2]. Group 2: Guarantee Procedures - The finance department is responsible for reviewing and managing all guarantee applications and ongoing risk control [3]. - Upon receiving a guarantee application, the finance department conducts a credit assessment of the applicant [4]. - Guarantees exceeding 10% of the latest audited net assets or 50% of total external guarantees require shareholder approval [5]. Group 3: Risk Control - The company must adhere to risk control principles during the guarantee process, ensuring strict limits on guarantee responsibilities [8]. - The company is required to monitor the financial status of the guaranteed party and take action if repayment obligations are not met [8][9]. - In case of non-fulfillment of repayment obligations, the company must disclose relevant information within a specified timeframe [9]. Group 4: Compliance and Reporting - The independent directors must provide a special report on the company's guarantee situation in the annual report [2]. - The board of directors is responsible for establishing a regular review system for all guarantee activities [6]. - Any violations of guarantee procedures must be disclosed and rectified promptly to protect the interests of the company and minority shareholders [7].

Group 1 - The company establishes rules for the board of directors' meeting procedures to enhance governance and decision-making efficiency [1][2] - The board of directors is required to hold at least two regular meetings annually, with the chairman responsible for convening these meetings [3][4] - The audit committee must meet at least quarterly, and additional meetings can be called as necessary [4][5] Group 2 - Proposals for temporary meetings can be submitted by shareholders or directors, and must include specific details about the proposal [5][6] - Meeting notifications must be sent out in advance, with specific timelines for regular and temporary meetings [6][7] - The board must ensure that a majority of directors are present for meetings to be valid [11][12] Group 3 - Directors are expected to attend meetings in person, and if unable to do so, must provide a valid reason and may delegate their voting rights [12][13] - The board's decisions require a majority vote, and specific conditions apply for certain types of resolutions [19][20] - Meeting records must be maintained for at least ten years, ensuring transparency and accountability [31][32]

Investment Rating - The investment rating for the company is "Accumulate" (maintained) [2] Core Views - The company achieved a revenue of 2.007 billion yuan in the first half of 2025, representing a year-on-year growth of 27.31%. The net profit attributable to shareholders was 271 million yuan, up 43.29% year-on-year [7] - The company is making significant progress in its global layout, enhancing supply chain resilience, and has completed the first phase of its logistics and production base in Europe [7] - The company has made notable breakthroughs in R&D innovation, particularly in robotic actuators, which are expected to become a new growth point [7] - The forecast for net profit attributable to shareholders for 2025-2027 is 504 million, 651 million, and 792 million yuan, respectively, with corresponding PE ratios of 30, 23, and 19 times [7] Financial Performance - The company’s revenue is projected to grow from 3.034 billion yuan in 2023 to 6.496 billion yuan in 2027, with a compound annual growth rate (CAGR) of 22.70% [6][8] - The net profit is expected to increase from 206 million yuan in 2023 to 792 million yuan in 2027, reflecting a significant growth trajectory [6][8] - The earnings per share (EPS) is forecasted to rise from 0.54 yuan in 2023 to 2.07 yuan in 2027 [6][8] Market Performance - The company’s stock has shown a performance of -7% over the last 12 months, compared to a 39% increase in the CSI 300 index [4]

Market Overview - The automation equipment sector increased by 0.51% on August 29, with Jiechang Drive leading the gains [1] - The Shanghai Composite Index closed at 3857.93, up 0.37%, while the Shenzhen Component Index closed at 12696.15, up 0.99% [1] Top Performers - Jiechang Drive (603583) closed at 42.81, up 9.99% with a trading volume of 330,200 shares [1] - Kaidi Co. (605288) also rose by 9.99% to 78.91, with a trading volume of 29,800 shares [1] - Ruisheng Intelligent (688215) increased by 6.95% to 68.80, with a trading volume of 40,800 shares [1] - Huagong Technology (000988) saw a 6.24% rise to 68.42, with a trading volume of 1,041,400 shares [1] Underperformers - Sitake (301568) fell by 7.98% to 53.37, with a trading volume of 139,700 shares [2] - Dongjie Intelligent (300486) decreased by 7.02% to 20.12, with a trading volume of 665,200 shares [2] - Aifute (688165) dropped by 5.61% to 24.71, with a trading volume of 289,100 shares [2] Capital Flow - The automation equipment sector experienced a net outflow of 497 million yuan from institutional investors, while retail investors saw a net inflow of 275 million yuan [2][3] - Jiechang Drive had a net inflow of 187 million yuan from retail investors, but a net outflow of 194 million yuan from institutional investors [3] - Huagong Technology had a significant net inflow of 1.93 billion yuan from institutional investors, despite a net outflow of 3.50 billion yuan from retail investors [3]

Core Insights - Kory Technology reported a revenue of 1.106 billion yuan for the first half of 2025, representing a year-on-year growth of 6.31% [1] - The net profit attributable to shareholders was approximately 123 million yuan, showing a significant increase of 37.28% year-on-year [1] - The company achieved a basic earnings per share of 0.2949 yuan, up by 35.59% compared to the previous year [1] - The net cash flow from operating activities reached 371 million yuan, marking an impressive increase of 821.49% year-on-year [1] Business Performance - Kory Technology focuses on the application of automation technology across various industries, with three strategic business segments: mobile terminals, new energy, and precision components, which together accounted for 88.69% of total revenue in the first half of 2025 [2] - The mobile terminal business generated sales revenue of 429.76 million yuan, representing 38.84% of total revenue and an increase of 11.58% year-on-year [3] - The new energy business achieved sales revenue of 318.64 million yuan, accounting for 28.80% of total revenue, with a remarkable year-on-year growth of 41.97% [3] - The precision components business reported sales revenue of 232.85 million yuan, making up 21.05% of total revenue, and experienced a year-on-year growth of 31.78% [4] Technological Innovation - Kory Technology emphasizes technological innovation, accumulating expertise in five key areas: machine vision and optics, precision sensing and testing, motion control and robotics, software technology, and precision mechanical design [5] - The company has been granted a total of 545 patents, with 297 valid patents and 102 valid inventions, providing strong technical support for its products and services [5] - Kory Technology has successfully deployed an intelligent manufacturing platform based on private container cloud technology and developed a modular control system for the 3C industry [5] International Expansion - Kory Technology has established a global presence with branches in Hong Kong, Thailand, Singapore, Vietnam, Malaysia, and the United States, forming a comprehensive international management and operational system [8] - The company's international layout enables it to respond quickly to global customer demands and efficiently handle overseas production capacity needs [8] - The successful delivery of overseas orders in Thailand and Indonesia highlights the company's growing international business capabilities [8]