1. Core Information - The report focuses on Shandong Weida in the general equipment industry, with a research date of May 15, 2025 [1][2][17] 2. Research Details 2.1 Basic Research Information - The research object is Shandong Weida, belonging to the general equipment industry, and the reception time was May 15, 2025. The company's reception staff included the financial director, Cao Yuanpei, the board secretary, Chen Jie, and the securities affairs representative, Cong Lingyun [17] 2.2 Detailed Research Institutions - The reception objects were investors' online questions, and the type was "other" [20] 2.3 Research Institution Proportion - No relevant content provided 2.4 Main Content Data - **Stock Repurchase**: The company held the Second Meeting of the Tenth Board of Directors on April 19, 2025, and approved a plan to repurchase shares using its own funds between 30 million and 60 million RMB. The repurchased shares will be cancelled to reduce the registered capital. This plan awaits approval at the 2024 Annual General Meeting on May 20, 2025, and if approved, the repurchase will be implemented within 12 months [24] - **Mergers and Acquisitions**: The company will disclose any merger or acquisition plans in accordance with regulations [24] - **NIO's Fifth - Generation Battery Swap Stations**: Information should be based on the company's official announcements [24][25] - **Suzhou Demaike's Loss**: In 2024, Suzhou Demaike Electric Co., Ltd. experienced performance fluctuations due to market factors and business structure adjustments, without significant losses. The company's subsidiary, Kunshan Swopu Intelligent Equipment Co., Ltd., is manufacturing the fourth - generation battery swap stations for NIO [25] - **Mexican Project**: Weida Mexico Manufacturing Co., Ltd. has started small - scale production but is not yet profitable. The company will promote project construction to increase production capacity [25] - **Market Value Management**: The company's board and management attach great importance to market value management, through various means such as participating in performance briefings, roadshows, and collaborating with the media. They will also communicate with major and institutional shareholders to attract influential institutional and long - term investors [25][26]

Group 1: Stock Repurchase Plan - The company plans to repurchase shares using funds between 30 million RMB and 60 million RMB, subject to shareholder approval on May 20, 2025 [1] - The repurchased shares will be used for cancellation and reduction of registered capital [1] Group 2: Mergers and Acquisitions - The company will disclose any potential merger plans in accordance with relevant regulations [2] - Investors are advised to refer to official announcements for updates on merger activities [3] Group 3: Financial Performance and Market Impact - The performance fluctuation of Suzhou Demai Ke Electric Co., Ltd. in 2024 was attributed to market factors and business restructuring, with no significant losses reported [3] - The Mexican manufacturing subsidiary has commenced small-scale production but has not yet achieved profitability [3] Group 4: Market Value Management - The board and management emphasize market value management through various investor engagement activities [3] - The company aims to enhance its operational performance and leverage existing resources to improve its market image [4]