Group 1 - The core viewpoint of the article is that Open Source Securities has given a "Buy" rating to Youji Co., Ltd. (920943.SH) based on its recent achievements and market potential [1] - Youji Co., Ltd. has successfully completed its first targeted convertible bond issuance on the Beijing Stock Exchange, which will increase its high-performance casting capacity [1] - The mechanical industry is expected to grow, driven by the automotive and electrical machinery sectors in the first three quarters of 2025 [1]

Core Viewpoint - Sichuan Youji Industrial Co., Ltd. is focusing on five core business areas to achieve significant revenue growth despite global market uncertainties [1][6] Group 1: Business Expansion and Revenue Growth - The company has established an intelligent manufacturing base for aerospace components, which has led to a significant increase in production capacity and annual output value [1] - In 2024, the revenue from the aerospace precision machining business is projected to reach 91.62 million yuan, a growth of over seven times compared to 2020 [3] - The company has initiated a new round of capacity expansion, with a successful fundraising of approximately 115 million yuan for technology upgrades and project expansions [3][6] Group 2: Technological Innovation - The company has developed advanced manufacturing capabilities, including a pressure-balanced valve used in a major energy project in Egypt and components for offshore wind power projects [4][5] - As of mid-2023, the company holds 175 patents, including 20 invention patents, showcasing its commitment to innovation [5] Group 3: Global Market Strategy - The company has successfully expanded into international markets, achieving revenue growth in its overseas operations despite global uncertainties [6][7] - In 2023, the company established a subsidiary in Thailand and plans to invest in the UAE to enhance its global presence [7] - The company's revenue for 2024 is expected to reach a historical high of 969 million yuan, with a year-on-year growth of 7.45% in the first three quarters [8]

Core Viewpoint - The financing activities of Youji Co., Ltd. show a positive trend with a net buying of 649,900 yuan on October 21, 2025, indicating a strengthening market sentiment towards the stock [1][3]. Financing Activities Summary - On October 21, 2025, Youji Co., Ltd. had a financing buy of 1,908,700 yuan and a financing repayment of 1,258,800 yuan, resulting in a net financing purchase of 649,900 yuan and a financing balance of 15,990,200 yuan [1]. - The net financing purchases over the last three trading days totaled 1,178,700 yuan [1]. - The financing balance on October 21, 2025, increased by 4.24% compared to the previous day [3][4]. Trading Data Summary - The financing balance on October 20, 2025, was 15,340,200 yuan, with a net buying of 391,500 yuan [2]. - On October 17, 2025, the financing balance was 14,948,700 yuan, with a net buying of 137,300 yuan [2]. - The financing balance on October 16, 2025, decreased to 14,811,500 yuan, reflecting a net repayment of 60,000 yuan [2]. - The financing balance on October 15, 2025, was 14,871,500 yuan, with a significant net repayment of 995,400 yuan [2].

二〇二五年九月 北京中伦（成都）律师事务所 关于四川优机实业股份有限公司 2025 年第二次临时股东会的 法律意见书 四川省成都市高新区天府大道北段 966 号天府国际金融中心南塔 25 层-26 层 邮编：610041 25-26/F, South Tower of Tianfu International Finance Center, 966 North Tianfu Avenue, High-tech Zone, Chengdu, Sichuan 610041, P. R. China 电话/Tel : +86 28 6208 8001 传真/Fax : +86 28 6208 8111 www.zhonglun.com 北京中伦（成都）律师事务所 关于四川优机实业股份有限公司 2025 年第二次临时股东会的 法律意见书 致：四川优机实业股份有限公司 四川优机实业股份有限公司（以下简称"公司"）2025年第二次临时股东会 （以下简称"本次会议"）于2025年9月25日15时00分在公司会议室召开，北京 中伦（成都）律师事务所（以下称"本所"）接受公司委托，指派律师出席本次 会议，并出具本法律意见书。 ...

| 证券代码：833943 | 证券简称：优机股份 | 公告编号：2025-114 | | --- | --- | --- | | 债券代码：810011 | 债券简称：优机定转 | | 2025 年第二次临时股东会决议公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记 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个 别及连带法律责任。 一、会议召开和出席情况 （一）会议召开情况 1.会议召开时间：2025 年 9 月 25 日 2.会议召开地点：公司会议室 3.会议召开方式：现场投票和网络投票相结合 4.会议召集人：董事会 5.会议主持人：罗辑先生 6.召开情况合法合规的说明： 四川优机实业股份有限公司 本次股东会的召开及表决程序符合《中华人民共和国公司法》及《四川优 机实业股份有限公司章程》等相关法律法规、规范性文件的规定。 （二）会议出席情况 出席和授权出席本次股东会的股东共 9 人，持有表决权的股份总数 68,862,415 股，占公司有表决权股份总数的 67.83%。 其中通过网络投票参与本次股东会的股东共 0 人，持有表决权的股份总数 0 股，占公司有表决 ...

1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints of the Report - Central Settlement Company and the National Inter - bank Funding Center will launch a centralized bond lending business on October 10, 2025, which can improve market efficiency, risk prevention, and standardization, but also faces challenges such as strict collateral requirements and short - term limits [4][11][12] - The listing of the first convertible bond on the Beijing Stock Exchange (BSE) marks the official opening of the BSE convertible bond market. Although it is in its infancy with some characteristics like non - public transfer and strict terms, it has potential for future optimization [5][15][17] - In August 2025, the overall economic data declined, with fixed - asset investment, social consumption, and industrial added - value growth rates dropping. CPI turned negative year - on - year, while the decline of PPI narrowed [6][18][20] - Last week, the central bank net - injected funds through open - market operations. Due to factors like treasury bond issuance and tax payments, capital prices rose, and the spread between 3 - month and 1 - year Shibor slightly expanded [7][23] - Last week, the issuance scale of credit bonds increased. Different industries and bond types showed different trends in issuance and net financing, and the average issuance cost of credit bonds fluctuated [8][28][31] - In the secondary market of credit bonds last week, trading activity increased, yields of both interest - rate and credit bonds rose, most credit spreads expanded, and rating spreads changed little [37][38][43] 3. Summaries According to Relevant Catalogs Market Hotspots - **Centralized Bond Lending Business Policy** - On September 12, 2025, relevant institutions will launch a centralized bond lending business on October 10, 2025, which is an important supplement to the existing bond lending business [11] - It can improve market efficiency, help market participants prevent risks, and enhance standardization, but also faces challenges from strict collateral requirements and short - term limits [12][13] - **BSE Convertible Bond Market** - On September 9, 2025, the first convertible bond "Youji Dingzhuan" was listed, marking the official opening of the BSE convertible bond market [5][13][15] - The current BSE convertible bond market is in its early stage, featuring non - public transfer, strict terms, and a concentrated investor structure. It is recommended to explore public issuance and innovative clause design [15][16][17] Macroeconomic Data - In August 2025, fixed - asset investment, social consumption, and industrial added - value growth rates declined. CPI turned negative year - on - year, and the decline of PPI narrowed [6][18][20] Money Market - Last week, the central bank net - injected 196.1 billion yuan through open - market operations. Capital prices rose due to factors like treasury bond issuance and tax payments, and the spread between 3 - month and 1 - year Shibor slightly expanded [7][23] Primary Market of Credit Bonds - Last week, the issuance scale of credit bonds increased to 216.271 billion yuan. Different bond types and industries had different performance in issuance and net financing, and the average issuance cost fluctuated [8][28][31] Secondary Market of Credit Bonds - Last week, the secondary - market trading volume of bonds was 876.9869 billion yuan, with increased trading activity. Yields of both interest - rate and credit bonds rose, most credit spreads expanded, and rating spreads changed little [37][38][43]

| | | 四川优机实业股份有限公司 关于控股孙公司完成工商变更并取得营业执照的公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记 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个 别及连带法律责任。 一、 基本情况 四川优机实业股份有限公司（以下简称"公司"）的控股孙公司成都比扬精密 机械有限公司（以下简称"比扬精密"）因业务发展需要，拟对注册资本进行增 资。本次比扬精密拟以资本公积转增注册资本 3,530,158 元，转增后比扬精密注册 资本增加至 5,000,000 元。 住所：四川省成都市经济技术开发区（龙泉驿区）车城东六路 366 号聚力产业港 三栋（B-A 轴交 11-16 轴） 根据《北京证券交易所股票上市规则》《公司章程》等相关规定，本次控股 孙公司比扬精密资本公积转增注册资本事宜未达到董事会和股东会审批标准，无 需提交董事会或股东会审议。以上事项公司已经公司管理层会议审议通过并由总 经理签批同意，现有股东按照持股比例进行同比例转增。 | 股东姓名（名称） | 转增前 | | 本次转增金额 | 转增后 | | | --- | --- | --- | -- ...

Group 1 - The Beijing Stock Exchange (BSE) announced the implementation of new stock codes for existing listed companies, set to take effect on October 9, 2025 [1] - A total of 248 existing stocks will switch to new codes, and the corresponding old-new code mapping can be found on the BSE's official website [1] - The BSE emphasized the importance of companies preparing adequately for the transition to minimize operational risks during the code switch [1]

| 证券代码：833943 | 证券简称：优机股份 | 公告编号：2025-112 | | --- | --- | --- | | 债券代码：810011 | 债券简称：优机定转 | | 四川优机实业股份有限公司 关于债券持有人可转债持有比例变动达10%的公告 特此公告。 四川优机实业股份有限公司 董事会 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记 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个 别及连带法律责任。 一、 可转债发行挂牌概况 经中国证券监督管理委员会《关于同意四川优机实业股份有限公司向特定对 象发行可转换公司债券注册的批复》（证监许可〔2025〕1467号）核准，四川优 机实业股份有限公司（以下简称"公司"）于2025年8月13日向特定对象发行可 转换公司债券120万张，面值100元/张，募集资金总额为人民币1.2亿元。上述可 转换公司债券于2025年9月9日起在北京证券交易所挂牌转让，债券简称"优机定 转"，债券代码"810011"。 二、 本次债券持有人可转债持有比例变动情况 南京盈怀私募基金管理有限公司及其管理的私募基金产品作为初始认购对象 合 ...

| 证券代码：833943 | 证券简称：优机股份 | 公告编号：2025-100 | | --- | --- | --- | | 债券代码：810011 | 债券简称：优机定转 | | 二、 分章节列示制度主要内容： 董事和高级管理人员持股变动管理制度 第一章 总则 第一条 为加强对四川优机实业股份有限公司（以下简称"公司"或"本公 司"）董事和高级管理人员所持本公司股份及其变动的管理，进一步明确管理程 序，根据《中华人民共和国公司法》（以下简称"《公司法》"）、《中华人民共和 国证券法》（以下简称"《证券法》"）、《上市公司董事和高级管理人员所持本公 司股份及其变动管理规则》《北京证券交易所股票上市规则》《北京证券交易所 上市公司持续监管指引第 8 号——股份减持》《北京证券交易所上市公司持续 监管指引第 13 号——股份变动管理》等相关法律法规、规范性文件及《四川优 机实业股份有限公司章程》（以下简称"《公司章程》"）的有关规定，特制订本 制度。 四川优机实业股份有限公司 董事和高级管理人员持股变动管理制度 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假 记载、误导性陈述或者重大遗漏，并 ...