Core Points - The article outlines the rules and regulations for the Compensation and Assessment Committee of Guangdong Tosstar Technology Co., Ltd, aimed at improving the assessment and compensation management system for directors and senior management [2][3]. Group 1: Committee Structure and Responsibilities - The Compensation and Assessment Committee is a specialized body under the board of directors, responsible for formulating assessment standards and compensation policies for directors and senior management [2][3]. - The committee consists of three members, with two being independent directors, and is chaired by an independent director [6][7]. - The committee is tasked with reviewing and proposing compensation plans for directors and senior management, including performance evaluation standards and long-term incentive plans [14][15]. Group 2: Decision-Making Procedures - The committee's evaluation process includes self-assessments by directors and senior management, followed by performance evaluations based on established criteria [18][19]. - Meetings of the committee require the presence of at least two-thirds of the members to make decisions, and decisions must be approved by a majority [24][25]. - The committee can invite directors and senior management to attend meetings when necessary and may seek independent financial advice for evaluating incentive plans [28][29]. Group 3: Documentation and Record-Keeping - The committee is required to maintain detailed meeting records, including attendance, discussion points, and decisions made [32][33]. - All meeting materials must be preserved according to the company's archival management system [34]. Group 4: Implementation and Amendments - The rules established by the committee are subject to national laws and regulations, and any conflicts with future laws will necessitate amendments to the rules [35][36]. - The board of directors is responsible for interpreting and modifying these rules as necessary [37].

第一条 为强化广东拓斯达科技股份有限公司（以下简称"公司"） 的内部 控制，促进公司规范运作和健康发展，根据《中华人民共和国公司法》、《上市 公司治理准则》、《企业内部控制基本规范》、《深圳证券交易所创业板股票上 市规则》（以下简称《上市规则》）、《深圳证券交易所上市公司自律监管指引 第 2 号——创业板上市公司规范运作》（以下简称《规范运作指引》）等法律、 法规、规范性文件及《广东拓斯达科技股份有限公司章程》（以下简称《公司章 程》）的有关规定，制定本制度。 第二条 本制度所称内部控制，是指公司董事会、经理层和全体员工实施 的、旨在实现控制目标的过程。 广东拓斯达科技股份有限公司 内部控制管理制度 第一章 总则 （一）内部环境。内部环境是公司实施内部控制的基础，一般包括治理结构、 机构设置及权责分配、内部审计、人力资源政策、企业文化等。 （二）风险评估。风险评估是公司及时识别、系统分析经营活动中与实现内 部控制目标相关的风险，合理确定风险应对策略。 内部控制的目标是合理保证企业经营管理合法合规、资产安全、财务报告及 相关信息真实完整，提高经营效率和效果，促进企业实现发展战略。 第三条 公司建立与实施内部控制 ...

Core Viewpoint - China Petroleum & Chemical Corporation (Sinopec) reported a significant decline in revenue and net profit for the first half of 2025, attributed to external challenges such as falling international oil prices and low chemical market margins [1][2] Financial Performance - For the first half of 2025, Sinopec achieved operating revenue of RMB 1.41 trillion, a year-on-year decrease of 10.6% [1] - The net profit attributable to shareholders was RMB 21.483 billion, down 39.8% year-on-year [1] - The company maintained a cash dividend payout ratio of 49.7%, proposing a cash dividend of RMB 0.088 per share, totaling RMB 10.67 billion [1] Production and Operations - Sinopec's oil and gas equivalent production reached 262.81 million barrels, a 2.0% increase year-on-year [1] - Domestic crude oil production was 126.73 million barrels, while natural gas production was 736.28 billion cubic feet [1] - The company plans to produce 141 million barrels of crude oil and 714.5 billion cubic feet of natural gas in the second half of 2025 [2] Capital Expenditure - Sinopec announced a 5% reduction in its annual capital expenditure plan, with a focus on optimizing resource allocation [3] - Capital expenditures in the exploration and development sector will target projects in Jiyang and Taha, among others [3] Share Buyback Plan - The company plans to repurchase shares worth between RMB 500 million and RMB 1 billion, with a maximum buyback price of RMB 8.72 per share [4] - The expected number of shares to be repurchased ranges from approximately 57.34 million to 114.68 million, representing 0.05% to 0.09% of the total issued shares [4] Other Companies' Dividend Announcements - Other listed companies, including Dong'e Ejiao and Baichu Electronics, also announced significant interim dividend plans, with Dong'e Ejiao proposing a cash dividend of RMB 12.69 per 10 shares, totaling RMB 817 million, which is 117.01% of its net profit for the first half of 2025 [5] - Baichu Electronics plans to distribute RMB 6.66 per 10 shares, amounting to RMB 192 million, or 30.01% of its net profit [5] - Samsung Medical announced a cash dividend of RMB 4.85 per 10 shares, totaling approximately RMB 679 million, which is 55.20% of its net profit [5]

Market Overview - The automation equipment sector experienced a decline of 1.18% on August 21, with Junpu Intelligent leading the drop [1] - The Shanghai Composite Index closed at 3771.1, up 0.13%, while the Shenzhen Component Index closed at 11919.76, down 0.06% [1] Stock Performance - Notable gainers in the automation equipment sector included: - Oke Technology (001223) with a closing price of 55.46, up 10.00% [1] - Robotec (300757) with a closing price of 213.20, up 5.76% [1] - Kairda (688255) with a closing price of 38.48, up 5.48% [1] - Significant decliners included: - Junpu Intelligent (688306) with a closing price of 12.34, down 5.66% [2] - Ruisheng Intelligent (688215) with a closing price of 62.18, down 5.50% [2] - Inno Laser (301021) with a closing price of 34.55, down 4.87% [2] Capital Flow - The automation equipment sector saw a net outflow of 1.418 billion yuan from institutional investors, while retail investors had a net inflow of 1.188 billion yuan [2] - The capital flow for specific stocks showed: - Robotec (300757) had a net inflow of 1.44 billion yuan from institutional investors [3] - Kairda (688255) had a net inflow of 44.297 million yuan from institutional investors [3] - Junpu Intelligent (688306) experienced a net outflow of 579.5 million yuan from institutional investors [3]

证券日报网讯 8月20日晚间，弘讯科技发布公告称，公司计划于2025年8月27日（星期三）15：00－ 16：00召开2025年半年度业绩说明会。 （文章来源：证券日报） ...

Core Viewpoint - The company reported strong financial performance for the first half of 2025, with significant revenue and profit growth, driven by improvements in profit margins and strong performance in the new energy and automotive sectors [1][2]. Financial Performance - In H1 2025, the company achieved revenue of 1.461 billion yuan, a year-on-year increase of 18.70%, and a net profit attributable to shareholders of 282 million yuan, up 26.49% year-on-year [1]. - For Q2 2025, revenue reached 841 million yuan, reflecting a year-on-year growth of 21.79%, while net profit was 160 million yuan, also up 26.50% year-on-year [1]. Profitability Metrics - The company reported a gross margin of 39.83% in Q2, an increase of 3.72 percentage points year-on-year, and a net margin of 19.02%, up 0.7 percentage points year-on-year [2]. - Significant improvements in gross margins were noted in the 3C mobile phone and new energy sectors, indicating the effectiveness of the company's long-tail customer strategy and value enhancement [2]. Revenue Drivers - The new energy sector saw a revenue increase of 53.17% year-on-year, while the automotive sector grew by 53.25%, serving as the main drivers of revenue growth [2]. - Conversely, the 3C mobile phone segment experienced a revenue decline of 4.12% due to reduced demand for devices like those from Apple, while the semiconductor sector grew by 28% [2]. Business Strategy and Operations - The company continues to enhance its one-stop procurement service, with a significant increase in product variety, covering 196 major categories and over 2.3 million SKUs as of H1 2025 [3]. - The company has made substantial progress in automating its operations, reducing quote response times from hours to seconds, and improving production efficiency with flexible production lines [3]. Global Expansion - The company is steadily advancing its global business strategy, with operations now covering over 30 countries and regions, and overseas revenue reaching 5.1818 million yuan in H1 2025, a year-on-year increase of 126% [4]. - The number of overseas customers grew by 72%, indicating successful international market penetration [4]. Future Outlook - The company maintains a "buy" rating based on its traditional business strengths, ongoing product optimization, and global expansion efforts, with projected net profits of 530 million, 640 million, and 770 million yuan for 2025-2027 [4].

Market Overview - The automation equipment sector increased by 0.5% on August 20, with Huachangda leading the gains [1] - The Shanghai Composite Index closed at 3766.21, up 1.04%, while the Shenzhen Component Index closed at 11926.74, up 0.89% [1] Top Performers - Huachangda (300278) closed at 6.58, rising by 10.03% with a trading volume of 1.7582 million shares and a transaction value of 1.127 billion [1] - Kaidi Co. (605288) also saw a significant increase, closing at 64.88, up 10.00% with a trading volume of 18,600 shares [1] - Other notable gainers include Oke Technology (001223) at 50.42 (+6.98%) and Chipot (688686) at 119.33 (+5.29%) [1] Underperformers - Jintuo Co. (300400) experienced a decline of 7.47%, closing at 25.16 with a trading volume of 295,300 shares [2] - Jepter (688025) fell by 6.04% to 124.50, with a transaction value of 330 million [2] - Other stocks that declined include Bojie Co. (002975) at 48.26 (-4.25%) and Weichuang Electric (688698) at 54.60 (-4.21%) [2] Capital Flow - The automation equipment sector saw a net outflow of 885 million from institutional investors, while retail investors contributed a net inflow of 618 million [2] - The sector's overall capital flow indicates a mixed sentiment, with institutional investors pulling back while retail investors remain active [2] Individual Stock Capital Flow - Zhongkong Technology (688777) had a net inflow of 291 million from institutional investors, but a net outflow of 143 million from retail investors [3] - Huachangda (300278) saw a net inflow of 203 million from institutional investors, while retail investors had a net outflow of 179 million [3] - Other stocks like Huagong Technology (000988) and Kuaike Intelligent (603203) also showed varied capital flows, indicating differing investor sentiments [3]

Group 1: Industry Trends and Recommendations - The article emphasizes three key investment themes for the second half of the year: improvement in cash flow, expansion of domestic demand, and technological innovation [1] - Sectors recommended for cash flow improvement include engineering machinery, beverage and dairy, food processing, chemical pharmaceuticals, passenger vehicles, and industrial metals [1] - New consumption areas with high valuation attractiveness include gaming, cosmetics, personal care products, internet e-commerce, digital media, entertainment products, snacks, and feed [1] - Industries benefiting from the technological innovation cycle and domestic self-sufficiency policies include computer equipment, automation equipment, semiconductors, and national defense [1] - Specific sectors highlighted for attention are computers, machinery (engineering and automation), national defense, non-ferrous metals, and pharmaceuticals (chemical pharmaceuticals) [1] Group 2: Precious Metals Market Insights - The fundamentals of precious metals remain stable, with market risk appetite declining due to trade agreements between the US, Japan, and Europe, impacting gold prices [3] - The primary influence on gold prices is the US dollar index, with historical trends indicating that high gold prices struggle to rise significantly in a strong dollar environment [3] - The article suggests monitoring the dollar index closely, as easing tariffs suppress sentiment, and expectations for interest rate cuts are changing marginally [3] - Long-term, geopolitical uncertainties and US-China tariff policies will continue to drive demand for gold as a safe haven, with central bank purchases and stagflation trades being core to gold trading strategies [3] Group 3: Financial Sector Developments - Securities firms are actively seizing business opportunities by serving as lead underwriters or financial advisors for listed companies' private placements, expanding investment banking growth [5] - These firms are also participating in private placements to capture investment opportunities, benefiting from increased trading commissions and investment banking revenues during bull markets [5] - The banking sector has seen significant inflows from institutional funds, particularly public funds, which have increased their holdings in bank stocks due to policy effects and asset price stabilization [5] - Despite recent adjustments in the banking sector, medium-term investment attractiveness remains, with expectations of continued interest in bank stocks [5] Group 4: Market Dynamics and Monetary Policy - The Shanghai Composite Index is experiencing a stagnation trend, with financial stocks serving as market barometers, indicating potential shifts in capital flows [9] - There is an anticipated 50 basis points interest rate cut in the US, with expectations for the next cut possibly occurring in September, leading to a loosening of overseas liquidity [9] - The ChiNext Index is facing a pullback, with critical support levels being monitored to determine future market direction [9] - Domestic monetary policy will prioritize stabilizing growth and combating deflation in the second half of the year, with expectations for further interest rate cuts and reserve requirement ratio reductions [9]

Investment Rating - The report maintains an "Accumulate" rating for the company [1] Core Views - The company has shown significant revenue growth driven by strong demand in the 3C sector, with a revenue increase of 18.44% year-on-year in the first half of 2025, reaching 2.441 billion yuan, and a net profit increase of 47.38% to 233 million yuan [2] - The company is actively expanding into emerging fields such as humanoid robots, with a notable increase in R&D investment by 49.93% year-on-year in the first half of 2025 [4] Financial Performance Summary - The company achieved total revenue of 3.529 billion yuan in 2023, with a projected increase to 4.605 billion yuan in 2024, representing a year-on-year growth of 30.49% [1] - The net profit attributable to the parent company is expected to rise from 194.49 million yuan in 2023 to 237.29 million yuan in 2024, reflecting a growth rate of 22.00% [1] - The company's gross profit margin improved to 25.06% in the first half of 2025, up by 2.1 percentage points year-on-year, indicating enhanced profitability [3] - The sales net profit margin also increased to 9.76% in the first half of 2025, up by 1.75 percentage points year-on-year [3] Market and Product Insights - The company is positioned as a leading domestic manufacturer of drilling and tapping machines, benefiting from the recovery in the 3C industry, with a significant increase in sales volume in the first half of 2025 [4] - The company is focusing on technological innovation in the robotics sector, driven by the adoption of titanium alloys and AI in the mobile phone industry, which is expected to enhance the demand for its core manufacturing equipment [4]

证券日报网讯昆船智能（301311）8月19日在互动平台回答投资者提问时表示，公司自主研发的自动导 引运输车(AGV)、穿梭车(RGV)可广泛应用于制造行业的自动化生产线、自动装配流水线的物料上下 线，流通企业的物料码垛搬运、集装箱搬运、自动拣选以及智慧停车等自动搬运场景。公司目前没有关 于水下无人潜航器的项目或研发计划。 ...