证券代码：002444 证券简称：巨星科技 公告编号：2025-035 杭州巨星科技股份有限公司 近日，杭州巨星科技股份有限公司（以下简称"巨星科技"或"公司"）取 得来自某欧洲大型零售业公司（以下简称"H 公司"）的订单中标通知，订单标 的为部分消费级无绳锂电池电动工具系列和相关零配件，订单采购范围为欧洲近 千家门店的未来三年全部该系列电动工具和零配件产品的销售和服务，预计订单 整体采购金额为每年不少于 1500 万美元，超过公司 2024 年电动工具产品收入的 5%。 截至本公告披露日，上述订单已经生效，双方将依据供应商协议和交易惯例 采用实时更新订单的模式进行交易，产品将于 2025 年下半年开始交付客户，由 于 2025 年只执行半年销售，预计 2025 年相关产品收入不超过 1000 万美元。鉴 于交易双方保密协议和具体内容涉及商业机密，应 H 公司要求，本次订单交易对 手方名称与详细金额不对外披露。 二、交易对手方介绍 关于公司取得客户电动工具订单的自愿性信息披露公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 特别提示： 1、公司在电动工具销 ...

巨星科技：取得欧洲大型零售业公司电动工具订单 智通财经7月15日电，巨星科技(002444.SZ)公告称，公司近日取得来自某欧洲大型零售业公司的订单中 标通知，订单标的为部分消费级无绳锂电池电动工具系列和相关零配件，预计订单整体采购金额为每年 不少于1500万美元。由于2025年只执行半年销售，预计2025年相关产品收入不超过1000万美元。该订单 的取得证明了公司电动工具产品已取得全球主要客户的高度认可。 ...

Investment Rating - The industry investment rating is "Overweight" indicating a strong expectation for the industry index to outperform the CSI 300 index by 10% or more over the next six months [27]. Core Insights - The report highlights the ongoing trend of domestic substitution in the automation equipment sector, with significant developments in the robotics industry, particularly the demonstration of the A2-W general-purpose robot by Zhiyuan Robotics, which showcased its operational capabilities in an industrial setting [1][7]. - The report also notes the strategic acquisitions and performance forecasts of companies like Huace Testing and Juxing Technology, indicating a positive outlook for their growth and market positioning [10][17]. Summary by Sections 1. Robotics Industry Dynamics - Zhiyuan Robotics successfully conducted a live demonstration of its A2-W robot, which autonomously handled over 800 turnover boxes, showcasing its efficiency and adaptability in industrial operations [1][7]. - Shanghai Zhiyuan Hengyue Technology Partnership is acquiring shares in Upwind New Materials, which specializes in environmentally friendly materials, indicating a strategic move towards sustainable product offerings [1][7]. 2. Testing Industry Dynamics - Huace Testing anticipates a 6.06-7.80% year-on-year increase in net profit for the first half of the year, driven by its "123 strategy" focusing on traditional markets, fast-growing sectors, and new business incubation [10][12]. - The testing industry is undergoing structural adjustments, shifting from scale expansion to quality and efficiency, which is reshaping the competitive landscape [10]. 3. Tools Industry Dynamics - Juxing Technology projects a 5-15% increase in net profit for the first half of the year, despite challenges from U.S. tariff policies affecting production capacity [17][21]. - The company has established 23 production bases globally, enhancing its ability to navigate trade policy fluctuations [17]. 4. Rail Transit Equipment Industry Dynamics - National railway fixed asset investment reached 355.9 billion yuan in the first half of the year, a 5.5% increase year-on-year, with China National Railway reporting significant profit growth expectations [23]. 5. Market Review - The CSI 300 index increased by 0.82%, while the machinery equipment sector outperformed with a 1.87% rise, indicating a positive market sentiment towards the industry [24].

证券代码：002444 证券简称：巨星科技 公告编号：2025-034 杭州巨星科技股份有限公司 关于收购股权的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 一、交易概述 （一）交易基本情况 为加大在芯片领域的投资并提高公司电动工具和智能工具产品的核心竞争 力，杭州巨星科技股份有限公司（以下简称"公司"）拟以支付现金的方式收购 杭州微纳科技股份有限公司（以下简称"微纳科技"）18.4706%股权（对应注册 资本320.28万元），具体交易方案如下： 公司拟收购海南微纳投资合伙企业（有限合伙）（以下简称"海南微纳"）持 有的微纳科技11.6315%股权（对应注册资本201.69万元），拟收购杭州紫兴创业 投资合伙企业（有限合伙）（以下简称"紫兴创投"）持有的微纳科技1.9608%股 权（对应注册资本34万元），拟收购姚嘉持有的微纳科技4.8783%股权（对应注册 资本84.59万元）。本次交易前，公司持有微纳科技32.5294%股权（对应注册资本 564.06万元），微纳科技为公司参股公司，交易完成后，公司持有微纳科技51%股 权（对应注册资本884.3 ...

公司收购海南微纳投资合伙企业（有限合伙）（以下简称"海南微纳"）持 有的微纳科技11.6315%股权（对应注册资本201.69万元），收购杭州紫兴创业投 资合伙企业（有限合伙）（以下简称"紫兴创投"）持有的微纳科技1.9608%股权 （对应注册资本34万元），收购姚嘉持有的微纳科技4.8783%股权（对应注册资 本84.59万元）。本次交易前，公司持有微纳科技32.5294%股权（对应注册资本 564.06万元），微纳科技为公司参股公司，交易完成后，公司持有微纳科技51% 股权（对应注册资本884.34万元），微纳科技成为公司控股子公司。 杭州巨星科技股份有限公司 第六届董事会第十六次会议决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 杭州巨星科技股份有限公司（以下简称"公司"）第六届董事会第十六次会 议通知于2025年7月7日以传真、电子邮件等方式发出，且全体董事均已书面确 认收到全部会议材料。会议于2025年7月14日在杭州市上城区九环路35号公司九 楼会议室以现场会议的方式召开。本次会议应出席董事9名，实际出席董事9 名，公司全体高级管理人员列 ...

Core Viewpoint - The company, Hangzhou Juxing Technology Co., Ltd., has approved the acquisition of an 18.4706% stake in Hangzhou Weina Technology Co., Ltd., making it a controlling subsidiary [1][2]. Group 1: Acquisition Details - The company will acquire the stake through cash payments, specifically purchasing 11.6315% from Hainan Weina Investment Partnership, 1.9608% from Hangzhou Zixing Venture Capital Partnership, and 4.8783% from an individual named Yao Jia [1][2]. - The total valuation for 100% of Weina Technology is set at 27.5 million yuan, with the specific transaction prices being 31.985 million yuan for the stake from Hainan Weina, 5.39 million yuan from Zixing Venture Capital, and the corresponding amount for Yao Jia's stake [2]. Group 2: Meeting and Approval Process - The board meeting was held on July 14, 2025, with all nine directors present, and the decision to proceed with the acquisition was unanimously approved with 9 votes in favor [1][2]. - The meeting adhered to the relevant regulations of the Company Law of the People's Republic of China and the company's own articles of association [1].

Group 1 - The company plans to acquire 18.4706% equity of Hangzhou Weina Technology Co., Ltd. for a cash payment of 45.4 million yuan [1] - After the transaction, the company will hold 51% equity in Weina Technology, making it a subsidiary [1] - The estimated revenue for Weina Technology in 2024 is 146 million yuan, with the transaction valuation set at 1.88 times the 2024 revenue, resulting in a total valuation of 275 million yuan for 100% equity [1]

Group 1: Key Recommendations - The report highlights Huachen Equipment (300809) as a leading domestic roll grinding machine manufacturer, with a strategic focus on humanoid robot grinding machines to tap into a blue ocean market [5] - The recommendation logic is based on the company's superior product performance, which has reached international leading levels, and confirmed orders from top humanoid robot manufacturers [5] - The steel industry is expected to recover, which will positively impact the company's short-term performance, as its main revenue comes from CNC roll grinding machines [5] Group 2: Important Insights - The medical device sector is anticipated to see a performance recovery in H2 2025, driven by ongoing bidding recovery and inventory adjustments in high-value consumables [7][8] - The report notes that the market remains cautious about the sustainability of bidding recovery and the impact of high-value consumables procurement on company performance [7] - The long-term growth potential of chain pharmacies is highlighted, with expectations for revenue and profit growth driven by improved management and diversification efforts [8] Group 3: Financial Projections - For Huachen Equipment, projected revenues for 2025-2027 are 558.70 million, 700.90 million, and 914.30 million yuan, with growth rates of 25% for the first two years and 30% for 2027 [6] - The net profit forecast for the same period is 109.70 million, 153.50 million, and 200.50 million yuan, with growth rates of 59%, 40%, and 31% respectively [6] - Earnings per share are expected to be 0.40, 0.60, and 0.80 yuan, with corresponding price-to-earnings ratios of 82.50, 58.90, and 45.10 [6] Group 4: Market Strategy - The report suggests maintaining a diversified investment strategy, focusing on banks as a stable foundation while also investing in low-positioned securities and technology growth sectors [9] - It emphasizes the importance of individual stock selection over index performance, especially in the technology sector, given the current market conditions [9] - The outlook indicates limited downside potential in the market, with opportunities for individual stocks to perform well despite potential index corrections [9]

Core Viewpoint - Company Giant Technology has secured a significant order to supply 20V cordless lithium battery power tools and related accessories to a major international retail company, marking its first overseas electric tool order since 2021 [2][3]. Group 1: Order Details - The order is for global distribution across thousands of retail stores over a three-year period, with an estimated annual procurement amount of no less than $30 million [2][3]. - The production and delivery for the U.S. market will be based in Vietnam, with the expected revenue from this order in 2025 not exceeding $20 million due to only half a year of sales being executed [3]. - This order represents a significant milestone for the company, demonstrating its global supply capabilities and the operational readiness of its Vietnamese production base [3]. Group 2: Financial Performance - In 2024, the company achieved a revenue of 14.795 billion yuan, a year-on-year increase of 35.37%, and a net profit of 2.304 billion yuan, up 36.18% [7]. - For the first half of 2025, the company forecasts a net profit between 1.253 billion and 1.373 billion yuan, reflecting a growth of 5% to 15% compared to the same period last year [7]. - The electric tools segment generated revenue of 1.438 billion yuan in 2024, marking a 36.53% increase year-on-year, although it still represents only 9.72% of total revenue [5]. Group 3: Market Position and Strategy - The company has established itself as a major supplier for large retail chains in the U.S. and Europe, including Home Depot, Walmart, and Lowe's [5]. - Since 2018, the company has been implementing an internationalization strategy, building overseas manufacturing bases and developing a global supply chain [5]. - The company has 23 production bases worldwide and has formed strong partnerships with thousands of suppliers [5]. Group 4: Research and Development - The company has consistently increased its R&D expenditure, with amounts growing from 310 million yuan in 2021 to 812.3 million yuan in the first quarter of 2025, indicating a commitment to innovation [8]. - The company aims to enhance its market share and overall profitability through continuous product development and innovation [8].

Investment Rating - Industry rating: Recommended [6] Core Insights - The report highlights that the company, Juxing Technology, is expected to achieve a net profit attributable to shareholders of 1.253-1.373 billion yuan in H1 2025, with a year-on-year growth rate of 5%-15% [10][11] - The company has secured a significant electric tool order from a major international retailer, with an expected annual procurement amount of no less than 30 million USD, marking its first overseas production order since the launch of its electric tool product line in 2021 [2][13] - The report emphasizes the resilience of Juxing Technology's operations despite tariff impacts, with Q2 profits expected to increase due to higher gross margins driven by cross-border e-commerce sales and new product launches, particularly in electric tools [12][15] Summary by Sections 1. Weekly Focus: Juxing Technology Q2 Performance Exceeds Expectations - Juxing Technology's Q2 performance is projected to show a net profit of 792-912 million yuan, with a year-on-year growth rate of 1.6%-16.9% [11] - The company faced production capacity impacts for approximately 40 days due to tariff policies, affecting order delivery and revenue [11][12] - The establishment of production bases in Vietnam is expected to provide a tariff advantage, with agreements in place to reduce tariffs from 25% to 20% for exports to the US [12][13] 2. Key Company Announcements - The company, Ecovacs, anticipates a net profit of 960-990 million yuan for H1 2025, representing a year-on-year increase of 57.64%-62.57% [16] - The net profit for Ecovacs in Q2 2025 is expected to be 485-515 million yuan, reflecting a year-on-year increase of 55.9%-65.6% [17] 3. Data Tracking - Raw material prices show fluctuations, with LME copper prices down by 3.3% and LME aluminum prices up by 0.2% as of July 11, 2025 [18] - Shipping rates have decreased, with the CCFI composite index down by 2.18% compared to the previous week [23] - Real estate data indicates a decline in sales area, completion area, and new construction area by 2.9%, 17.3%, and 22.8% respectively for the first five months of 2025 [25]