General Principles - The company establishes an insider information reporting system to regulate insider information management and enhance confidentiality, in accordance with relevant laws and regulations [1][2] - The system applies to all departments, subsidiaries, and companies that the company can significantly influence [1] Definition of Insider Information - Insider information refers to non-public information that could significantly impact the company's operations, finances, or market price of its securities [1][2] - It includes information as defined in the Securities Law and other significant events recognized by regulatory authorities [1] Insider Information Knowledgeable Persons - Insider information knowledgeable persons include company directors, senior management, major shareholders, and others who can access insider information due to their roles or relationships with the company [2][3] Confidentiality Responsibilities - Knowledgeable persons are obligated to maintain confidentiality before the public disclosure of insider information [3][4] - The company must limit the number of knowledgeable persons to the smallest possible scope before disclosure [3] Record Management of Knowledgeable Persons - The company must maintain a record of knowledgeable persons, including their identities, roles, and the circumstances under which they accessed insider information [4][5] - Specific events such as major asset restructuring or significant share transfers require the submission of knowledgeable persons' records [4][5] Responsibilities of the Board - The board of directors is responsible for ensuring the accuracy and completeness of the knowledgeable persons' records, with the chairman being the primary responsible person [5][6] - The board secretary handles the registration of these records [5] Monitoring and Reporting - The company must conduct self-checks on insider trading activities and report any violations to regulatory authorities within two working days [8][9] - Knowledgeable persons' records and significant event memoranda must be submitted to the Shanghai Stock Exchange within five trading days after the initial public disclosure [8][9] Accountability for Violations - Violations of the insider information management system may result in penalties, and serious cases may be referred to judicial authorities for criminal prosecution [9][10]

Core Points - The article outlines the establishment and operational rules of the Strategic Committee of Zhuzhou Oke Yi CNC Precision Tool Co., Ltd, aimed at enhancing the company's core competitiveness and decision-making quality [1][2] - The committee is responsible for long-term strategic planning and major investment feasibility studies, reporting directly to the board of directors [1][2] Group 1: General Provisions - The Strategic Committee is established to adapt to the company's strategic development needs and improve governance structure [1] - The committee consists of at least three directors, with the chairman of the board serving as the committee's chair [2] Group 2: Responsibilities and Authority - The committee's main responsibilities include reviewing overall development strategies, assessing business performance, and making recommendations to the board [2] - It also supervises the execution of operational plans and investment proposals, evaluates governance status, and manages strategic implementation [2] Group 3: Meeting Rules - Meetings can be proposed by the board, the chair, or a majority of committee members, with notifications sent three days in advance [3] - A quorum requires the presence of more than half of the committee members, and decisions are made by majority vote [3][4] Group 4: Additional Provisions - The committee may invite company directors and external experts to attend meetings for consultation, with the costs covered by the company [4] - Meeting records must be kept for ten years, and all attendees are bound by confidentiality regarding the discussed matters [4][5]

Core Points - The company is named Zhuzhou Oke Precision Cutting Tools Co., Ltd., established as a joint-stock company under Chinese law, with a registered capital of RMB 158.781708 million [1][2] - The company focuses on the domestic production and import substitution of high-precision CNC cutting tools, aiming to become a leading enterprise in intelligent CNC tools [3][4] - The company was approved for public offering of 25 million shares and listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board on December 10, 2020 [1][2] Company Structure - The company is a permanent joint-stock company, with the chairman serving as the legal representative [2] - The company has a total of 158.781708 million shares issued, all of which are ordinary shares [5][6] - The company prohibits financial assistance for acquiring its shares, except for employee stock ownership plans [6][7] Share Issuance and Management - Shares are issued based on principles of openness, fairness, and justice, with equal rights for each share of the same category [4][5] - The company can increase capital through various methods, including issuing shares to unspecified objects or existing shareholders [6][7] - The company can reduce registered capital following legal procedures [6][7] Shareholder Rights and Responsibilities - Shareholders have rights to dividends, attend meetings, supervise management, and request information [9][10] - Shareholders are obligated to comply with laws and the company's articles of association, and they cannot withdraw their capital except as legally permitted [14][15] - Major shareholders and actual controllers must exercise their rights in accordance with laws and regulations, ensuring the protection of the company's interests [42][43] Shareholder Meetings - The company holds annual and temporary shareholder meetings, with specific procedures for calling and conducting these meetings [48][49] - Shareholder proposals must be submitted within a specified timeframe, and the company must provide adequate notice of meetings [58][60] - Decisions at shareholder meetings require a majority or two-thirds majority vote, depending on the nature of the resolution [80][82]

Core Points - The document outlines the rules for the board of directors of Zhuzhou Oke Yi Numerical Control Precision Tool Co., Ltd, aiming to standardize decision-making processes and enhance operational efficiency [2][3] - The board is responsible for major corporate decisions, including operational plans, profit distribution, and significant investments, and must adhere to the Company Law and the company's articles of association [2][4] Chapter 1: General Principles - The board of directors is established according to the Company Law and is accountable to the shareholders' meeting [2] - The board consists of a chairman and may include a vice chairman, elected by a majority of the board members [2][3] Chapter 2: Powers of the Board - The board has the authority to convene shareholder meetings, execute resolutions, and determine operational plans and investment strategies [4][5] - Major transactions exceeding certain thresholds must be reviewed and approved by the board and, in some cases, the shareholders' meeting [3][4] Chapter 3: Meeting Procedures - The board must meet at least twice a year, with meetings called by the chairman [6][7] - A notice of the meeting must be sent to all directors at least 10 days in advance, detailing the date, location, and agenda [7][8] Chapter 4: Meeting Conduct - A quorum requires the presence of more than half of the directors, and decisions are made by a majority vote [8][9] - Directors must disclose any conflicts of interest related to agenda items and cannot vote on matters where they have a conflict [9][10] Chapter 5: Resolutions and Records - Meeting records must include details such as the date, attendees, agenda, and voting results, and must be signed by the participants [10][11] - The board secretary is responsible for maintaining these records for a period of 10 years [11] Chapter 6: Supplementary Provisions - Any matters not covered by these rules will be governed by relevant national laws and the company's articles of association [11]

Core Viewpoint - The company, Zhuzhou Oke Carbide Precision Tool Co., Ltd., has announced a cash dividend distribution of RMB 0.15 per share for the fiscal year 2024, approved at the annual shareholders' meeting on May 22, 2025 [2][3]. Summary by Sections Dividend Distribution Plan - The company plans to distribute a cash dividend of RMB 1.5 for every 10 shares held, totaling RMB 23,629,756.20 (including tax) based on the adjusted total shares eligible for distribution [3][5]. - The total share capital is 158,781,708 shares, with 1,250,000 shares in the repurchase account excluded from the distribution, resulting in 157,531,708 shares participating in the dividend [3][5]. Taxation Details - For individual shareholders holding shares for over one year, the dividend income is exempt from personal income tax, resulting in an actual cash dividend of RMB 0.15 per share [8][9]. - For shares held for less than one year, the company will not withhold personal income tax at the time of distribution, but tax will be calculated upon transfer of shares [8][9]. - For Qualified Foreign Institutional Investors (QFII), a 10% withholding tax applies, leading to an actual cash dividend of RMB 0.135 per share after tax [9][10]. Implementation Method - The cash dividends will be distributed through the China Securities Depository and Clearing Corporation Limited, Shanghai Branch, to shareholders registered by the end of the trading day on the record date [5][6]. - Shareholders who have not completed designated transactions will have their dividends held by the clearing company until the transactions are completed [5].

Core Viewpoint - The company, Zhuzhou Oke Carbide Precision Tool Co., Ltd., has announced a differentiated cash dividend distribution plan for its shareholders, which was approved at the 2024 annual general meeting held on May 22, 2025 [1]. Group 1: Dividend Distribution Plan - The company plans to distribute a cash dividend of RMB 0.15 per share, with a total share capital of 158,781,708 shares, excluding 23,629,756.20 shares held in the repurchase account [2]. - The differentiated dividend plan specifies that for every 10 shares held, shareholders will receive a cash dividend of RMB 1.5 (including tax), with no bonus shares or capital reserve conversion [1][2]. - The reference price for the ex-dividend date will be calculated as the previous closing price minus the cash dividend of RMB 0.1488 per share, as the circulating shares will not change [2]. Group 2: Tax Implications - For individual shareholders holding shares for more than one year, the dividend income is exempt from individual income tax, resulting in an actual cash dividend of RMB 0.15 per share [5]. - For shares held for one year or less, the company will not withhold individual income tax at the time of distribution, but tax will be calculated and withheld upon the transfer of shares [5]. - For Qualified Foreign Institutional Investors (QFIIs), a 10% withholding tax will apply, resulting in an actual cash dividend of RMB 0.135 per share after tax [6]. Group 3: Implementation Details - The cash dividends will be distributed through China Securities Depository and Clearing Corporation Limited, Shanghai Branch, to shareholders registered by the ex-dividend date [2]. - Shares held in the repurchase account will not participate in the profit distribution [3]. - Shareholders who have not completed designated transactions will have their dividends held by China Securities Depository and Clearing Corporation until the transactions are completed [2].

Group 1 - The legal opinion is issued regarding the differentiated equity distribution for the year 2024 by Zhuzhou Oke Yi CNC Precision Tool Co., Ltd. [1][2] - The company plans to use its own funds to repurchase shares through centralized bidding, with a total amount between RMB 30 million and RMB 60 million, within a period not exceeding 12 months [4][5]. - As of June 27, 2025, the company has repurchased 1,250,000 shares, accounting for 0.79% of the total share capital [4]. Group 2 - The proposed differentiated equity distribution plan includes a cash dividend of RMB 1.5 per 10 shares, with a total cash dividend amounting to RMB 23,629,756.20 [4][5]. - The total number of shares participating in the distribution is calculated by deducting the repurchased shares from the total share capital, resulting in 157,531,708 shares eligible for the dividend [5][6]. - The impact of the differentiated equity distribution on the reference price for ex-dividend is minimal, with an absolute value change of less than 1% [6]. Group 3 - The legal opinion concludes that the differentiated equity distribution complies with relevant laws and regulations, and does not harm the interests of the company or its shareholders [6]. - The legal opinion is valid upon signature and seal by the law firm, and is issued in three copies with equal legal effect [6].

Core Viewpoint - Beijing Jinwanzhong Machinery Technology Co., Ltd. (hereinafter referred to as Jinwanzhong) has received acceptance for its IPO application on the Beijing Stock Exchange, following the withdrawal of its previous application for the Shanghai Stock Exchange due to new listing rules that raised financial and market value requirements [4] Group 1: Company Overview - Jinwanzhong was established in June 2011 and began its tool manufacturing business in 2012, launching its own tool brand "Rentianxing" in 2016 [4] - The company has expanded its services to include tool coating and tool sharpening [4] Group 2: Financial Performance - Jinwanzhong's revenue for the years 2022 to 2024 was 988 million, 950 million, and 923 million respectively, while net profits were 83.46 million, 75.49 million, and 87.32 million respectively [4] - The gross profit margins for the same period were 25.3%, 24.33%, and 24.64% [4] Group 3: Shareholding Structure - The controlling shareholder and actual controller of Jinwanzhong is Sun Xiaoming, who directly holds 78.62% of the shares and controls a total of 90.28% of the voting rights through various entities [5] - Sun Xiaoming has a diverse background in management and engineering, with extensive experience in various companies related to machinery and technology [6][7][8]

Investment Rating - The report initiates coverage with a "Buy" rating for the company [3][9]. Core Viewpoints - The company is a leading player in the PCB drill needle market, with a diversified business model that includes tools, materials, and equipment. It has shown robust revenue growth and is well-positioned to benefit from the rapid development of the PCB industry in China [8][19]. - The company has achieved a compound annual growth rate (CAGR) of 19.99% in revenue from 2018 to 2024, increasing from 529 million to 1.58 billion yuan, and a CAGR of 21.79% in net profit, from 70 million to 227 million yuan during the same period [8][30]. - The company is focusing on expanding its capabilities in high-performance drill needles, CNC tools, functional films, and intelligent CNC equipment, which are expected to drive future growth [8][9]. Financial Data and Profit Forecast - Total revenue is projected to reach 1.96 billion yuan in 2025, with a year-on-year growth rate of 24.3%. By 2027, revenue is expected to grow to 2.83 billion yuan, with a growth rate of 18.3% [2]. - The net profit attributable to the parent company is forecasted to be 338 million yuan in 2025, increasing to 547 million yuan by 2027, reflecting a growth rate of 48.9% and 26.4%, respectively [2]. - The earnings per share (EPS) is expected to rise from 0.82 yuan in 2025 to 1.33 yuan in 2027 [2]. Business Segments - **PCB Tools**: The company maintains a strong competitive advantage in the PCB drill needle market, with a market share that increased from 19% in 2020 to 26.5% in 2023. The global PCB drill needle market is projected to reach 991 million USD by 2025 [8][9]. - **CNC Tools**: The company is expanding its production capacity and improving cost efficiency, with a target capacity of 600,000 units per month by the end of 2024 [8][9]. - **Functional Films**: The company is actively developing its functional film business, which is expected to grow significantly due to new certifications from automotive clients [8][10]. - **Intelligent CNC Equipment**: The company has made breakthroughs in developing new products, such as CNC thread grinding machines, which are anticipated to benefit from the growing demand for humanoid robots [8][9]. Market Context - The PCB industry is experiencing a structural opportunity driven by the application of AI technologies and the recovery of consumer electronics, with the global PCB market expected to reach 73.6 billion USD in 2024, growing at a rate of 5.8% [41][49]. - The Chinese PCB market is projected to grow to 41.2 billion USD in 2024, accounting for 56% of the global market, with a CAGR of 3.8% from 2024 to 2029 [46][49].

Core Viewpoint - The company has achieved significant technological advancements in the processing of key components for planetary roller screws, including lead screws, nuts, rollers, and internal gears [1] Group 1: Technological Developments - The company has developed proprietary PCBN milling inserts and tool holders capable of processing multi-start thread lead screws and rollers with a precision of ±1μm [1] - Specialized PCBN turning and milling inserts have been created to meet the specific requirements for nut processing, such as multi-start threads, high-precision pitches, and slender structures [1] - The company has developed multiple hard alloy milling inserts for trapezoidal lead screw processing, ensuring that the machining precision meets customer requirements [1] Group 2: Market Expansion and Revenue - The company's ball screw processing tools are actively expanding in the market, generating some revenue in the fiscal year 2024 [1] - The processing tools for planetary roller screws and trapezoidal lead screws are currently in the customer sample testing phase, with minimal revenue expected in the fiscal year 2024 [1]