Company Overview - Hengtai Electromechanical Co., Ltd. is located in Hangzhou, Zhejiang Province, and was established on June 23, 1995. The company went public on February 22, 2023. Its main business involves the research, design, manufacturing, and sales of material handling equipment [1]. Business Composition - The revenue composition of Hengtai Electromechanical is as follows: - Plate chain bucket elevators: 44.10% - Wear parts: 27.37% - Belt bucket elevators: 14.41% - Other parts: 11.67% - Other business income: 1.31% - Other conveyors: 1.14% [1]. Stock Performance - On September 25, Hengtai Electromechanical's stock fell by 5.02%, trading at 42.93 CNY per share, with a transaction volume of 48.86 million CNY and a turnover rate of 5.27%. The total market capitalization is 2.828 billion CNY [1]. Major Shareholders - Among the top ten circulating shareholders of Hengtai Electromechanical, one fund from Nuoan Fund holds a significant position. The Nuoan Multi-Strategy Mixed A Fund (320016) increased its holdings by 182,700 shares in the second quarter, bringing its total to 304,300 shares, which accounts for 1.45% of the circulating shares. The estimated floating loss today is approximately 690,800 CNY [2]. Fund Performance - The Nuoan Multi-Strategy Mixed A Fund, managed by Kong Xianzheng and Wang Haichang, has a total asset scale of 1.399 billion CNY. Year-to-date, it has achieved a return of 58.86%, ranking 694 out of 8,173 in its category. Over the past year, the return is 110.58%, ranking 367 out of 8,003. Since its inception, the fund has returned 206.6% [2]. Fund Managers - Kong Xianzheng has been managing the fund for 4 years and 304 days, with a total asset scale of 4.607 billion CNY. His best fund return during this period is 69.77%, while the worst is -16.74%. Wang Haichang has been managing the fund for 3 years and 66 days, with a total asset scale of 2.529 billion CNY. His best return is 57.83%, and the worst is -18.8% [3].

1. Reported Industry Investment Rating - No relevant information provided 2. Core Views of the Report - The company's material handling equipment products have a wide range of applications, and the company is expanding its market share in non - cement building materials industries [23]. - The company's chain products have a long service life and high - quality advantages, and the company is promoting process improvement and intelligent manufacturing [25][26]. - The company's "Annual Production of 3 million large - pitch conveying equipment chain intelligent manufacturing project" is in progress, with the first - phase production line achieving small - batch production in 2024 and the second - phase under installation and commissioning [27][28]. 3. Summary According to the Table of Contents 3.1. Research Basic Situation - The research object is Hetai Electromechanical, and the reception time is September 12, 2025. The listed company's reception staff includes the board secretary Fang Qing and Xu Ruoran from the secretary's office [16]. 3.2. Detailed Research Institutions - The research institutions include Great Wall Securities Co., Ltd. (a securities company with relevant person Xu Chenglu), Vikin (Hangzhou) (an asset management company with relevant person Zhang Huan), Hangzhou Yuhang Private Equity (a fund management company with relevant person Wang Fujun), and Hangzhou Zhongcai Jinfeng Equity Investment (an investment company with relevant person Shen Bin) [17]. 3.3. Main Content Information - **Market Expansion Strategy**: The company is expanding the application fields of its products on the basis of the cement industry, targeting industries such as ports, steel, chemicals, and food. It has a mature product and technology base, can provide customized solutions, and has established a national sales service network. It also uses the "regional bidding for positions system" to motivate sales staff [23]. - **Chain Product Service Life and Advantages**: The chain product has a service life of about 3 years, can adapt to harsh environments, and reduces customer costs and downtime losses. The company promotes process improvement and intelligent manufacturing and has an all - around quality control system [25][26]. - **Implementation of the Fund - Raising Project**: The company is implementing the "Annual Production of 3 million large - pitch conveying equipment chain intelligent manufacturing project" to build a smart factory. The first - phase production line achieved small - batch production in 2024, and the second - phase is under installation and commissioning [27][28].

Group 1 - The core viewpoint of the news is that Hangzhou Hetai Electromechanical Co., Ltd. is actively engaging with institutional investors to discuss its market expansion strategies, product advantages, and fundraising project implementation [1] - The company has a strong reputation in the material handling equipment sector, having been in the industry for 30 years, and aims to increase its market share in non-cement building materials, sand and gravel aggregates, coal, and grain industries [1] - The company has established a nationwide sales service network and employs a "regional bidding competition system" to motivate its sales team [1] Group 2 - The key fundraising project is the "Annual Production of 3 Million Large Pitch Conveyor Chain Intelligent Manufacturing Project," which is crucial for the company's digital transformation [2] - An international professional consulting team has been hired for systematic planning to create a full-process digital closed loop, with the first production line expected to achieve small-scale production in 2024 [2] - The second production line is currently being actively installed and debugged [2]

Group 1: Company Overview - The company specializes in material handling equipment, applicable in various industries such as cement, coal, and food, with a strong brand reputation built over 30 years [2][3]. - The company is expanding its market share beyond the cement industry into ports, steel, chemicals, and food sectors [3]. Group 2: Product and Technology - The chain, a core product, has an average lifespan of about 3 years, with the company’s chains designed to withstand harsh environments, thus reducing maintenance costs and downtime for clients [3][4]. - The company emphasizes innovation and has improved chain manufacturing processes and smart manufacturing capabilities, enhancing product quality and production efficiency [4]. Group 3: Investment Projects - The "Annual Production of 3 Million Large-Pitch Conveyor Chains Intelligent Manufacturing Project" aims to create a smart factory, with systematic planning for digital transformation [4]. - The first phase of the project achieved small-batch production in 2024, while the second phase is currently under installation and debugging [4].

Company Overview - HETAI Electromechanical Co., Ltd. is located in Hangzhou, Zhejiang Province, and was established on June 23, 1995. The company went public on February 22, 2023. Its main business involves the research, design, manufacturing, and sales of material handling equipment [1] - The revenue composition of HETAI includes: 44.10% from plate chain bucket elevators, 27.37% from wear parts, 14.41% from belt bucket elevators, 11.67% from other parts, 1.31% from other business income, and 1.14% from other conveyors [1] Stock Performance - On August 27, HETAI's stock fell by 5.01%, trading at 38.10 CNY per share, with a transaction volume of 70.83 million CNY and a turnover rate of 8.59%. The total market capitalization is 2.464 billion CNY [1] Shareholder Information - Among the top ten circulating shareholders of HETAI, one fund from Nuoan Fund holds shares. The Nuoan Multi-Strategy Mixed A Fund (320016) increased its holdings by 182,700 shares in the second quarter, totaling 304,300 shares, which represents 1.45% of the circulating shares. The estimated floating loss today is approximately 611,600 CNY [2] - The Nuoan Multi-Strategy Mixed A Fund was established on August 9, 2011, with a current size of 1.399 billion CNY. Year-to-date returns are 66.58%, ranking 172 out of 8,194 in its category; the one-year return is 133.99%, ranking 58 out of 7,963; and since inception, the return is 221.5% [2] Fund Manager Performance - The fund managers of Nuoan Multi-Strategy Mixed A are Kong Xianzheng and Wang Haichang. As of the latest update, Kong has been in his position for 4 years and 275 days, managing assets totaling 4.607 billion CNY, with the best return during his tenure being 81.64% and the worst being -16.74% [3] - Wang has been in his position for 3 years and 37 days, managing assets totaling 2.529 billion CNY, with the best return during his tenure being 68.86% and the worst being -18.8% [3]

Fundraising Overview - The company raised a total of RMB 756.77 million by issuing 16.1668 million shares at a price of RMB 46.81 per share, with net proceeds amounting to RMB 688.37 million after deducting underwriting and other fees [1][2][3] - As of June 30, 2025, the company has established four special accounts for fundraising, along with seven large-denomination deposit accounts and eight structured deposit accounts [5][6] Fund Utilization - The company has utilized RMB 109.85 million of the raised funds to replace pre-invested project funds and issuance expenses, with an additional RMB 29.46 million replaced through bank acceptance bills and other means [6][7][8] - The remaining balance of unused funds as of June 30, 2025, includes RMB 414 million in cash management and RMB 64.27 million in the special fundraising account [7][8] Business Performance - In the first half of 2025, the company achieved revenue of RMB 123.52 million, a year-on-year increase of 0.44%, despite a decline in the cement industry leading to a 34.87% drop in net profit to RMB 19.26 million [48][49] - The company is focusing on market expansion and diversification strategies, targeting new sectors such as chemicals and food, while also enhancing its international market presence [49][50] Strategic Initiatives - The company is advancing its smart manufacturing transformation through projects like the annual production of 3 million large pitch conveyor chains, aiming to enhance production efficiency and reduce costs [50][51] - Continuous improvements in production processes and R&D capabilities are being emphasized, with 15 new patents granted during the reporting period [52][53] Employee Incentives - The company approved a stock incentive plan, granting 1.2 million restricted shares at a price of RMB 17.19 per share to 34 employees, with performance-based conditions for unlocking these shares [14][15][20][21]

Core Viewpoint - The company has recently obtained a patent for a bending reinforcement mold for steel plates, which enhances its innovation capabilities and strengthens its competitive edge in the material handling equipment manufacturing industry [1][2]. Group 1: Patent Details - The patent is titled "A Bending Reinforcement Mold for Steel Plates" with patent number ZL 2019 1 0791209.7, granted on July 11, 2025, and applied for on August 26, 2019 [1]. - The invention allows for direct bending of steel plates at an angle of 135° while simultaneously forming reinforcements, which increases the strength of the bend and prevents deformation [1]. Group 2: Impact on the Company - The patent technology has already been applied in the processing of the company's steel plate raw materials [2]. - The acquisition of this patent is a result of the company's commitment to independent research and innovation, contributing to the enhancement of its intellectual property protection system [2]. - While the patent will not have a significant immediate impact on the company's operations, it is expected to help maintain technological leadership and improve core competitiveness through a continuous innovation mechanism [2].

杭州和泰机电股份有限公司 HANGZHOU HOTA M&E HOLDINGS CO., LTD. （注册地址：萧山区宁围街道通惠北路 1201 号） 首次公开发行股票 招股说明书 保荐人（主承销商） 中国(上海)自由贸易试验区浦明路 8 号 杭州和泰机电股份有限公司 招股说明书 本次发行概况 | 发行股票类型 | 人民币普通股（A 股） | | --- | --- | | 发行股数 | 不超过 1,616.68 万股，本次发行不涉及老股转让 | | 每股面值 | 1.00 元 | | 每股发行价格 | 人民币 元 46.81 | | 预计发行日期 | 年 月 日 2023 2 8 | | 拟上市的证券交易所 | 深圳证券交易所 | | 发行后总股本 | 不超过 6,466.68 万股 | | | 发行人实际控制人徐青根据法律、法规及相关政策规定作出以下 | | | 关于股份锁定的承诺： | | | "自发行人股票在证券交易所上市交易之日起 36 个月内，不转让 | | | 或者委托他人管理本人已直接和间接持有的发行人股份，也不由 | | | 发行人回购该部分股份。 | | | 同时，在本人担任发行人董事长期 ...

杭州和泰机电股份有限公司 HANGZHOU HOTA M&E HOLDINGS CO., LTD. （注册地址：萧山区宁围街道通惠北路 1201 号） 首次公开发行股票 招股说明书摘要 保荐人（主承销商） 中国(上海)自由贸易试验区浦明路 8 号 杭州和泰机电股份有限公司 招股说明书摘要 声明及承诺 本招股说明书摘要的目的仅为向公众提供有关本次发行的简要情况，并不包 括招股说明书全文的各部分内容。招股说明书全文同时刊载于深圳证券交易所网 站。投资者在做出认购决定之前，应仔细阅读招股说明书全文，并以其作为投资 决定的依据。 投资者若对本招股说明书及其摘要存在任何疑问，应咨询自己的股票经纪 人、律师、会计师或其他专业顾问。 发行人及全体董事、监事、高级管理人员承诺招股说明书及其摘要不存在虚 假记载、误导性陈述或重大遗漏，并对其真实性、准确性、完整性承担个别和连 带的法律责任。 公司负责人和主管会计工作的负责人、会计机构负责人保证招股说明书及其 摘要中财务会计资料真实、完整。 保荐人承诺因其为发行人首次公开发行股票制作、出具的文件有虚假记载、 误导性陈述或者重大遗漏，给投资者造成损失的，将先行赔偿投资者损失。 中国 ...