证券日报网讯 1月28日，华洋赛车发布公告称，公司已完成注册资本的工商变更登记，注册资本变更为 56056110元，并于2026年1月27日取得浙江省市场监督管理局换发的营业执照。 （文章来源：证券日报） ...

数据来源：中国汽车工业(摩托车)产销快讯，智研咨询整理 知前沿，问智研。智研咨询是中国一流产业咨询机构，十数年持续深耕产业研究领域，提供深度产业研 究报告、商业计划书、可行性研究报告及定制服务等一站式产业咨询服务。专业的角度、品质化的服 务、敏锐的市场洞察力，专注于提供完善的产业解决方案，为您的投资决策赋能。 根据中国汽车工业(摩托车)产销快讯数据显示：2025年11月浙江华洋赛车股份有限公司摩托车产量为 1386辆，同比下降67.05%，销量为3190辆，同比增长16%，产销率为230.16%，清仓1804辆。 近一年浙江华洋赛车股份有限公司摩托车产销情况统计图 上市公司：钱江摩托（000913），信隆健康（002105），征和工业（003033），久祺股份（300994）， 林海股份（600099），上海凤凰（600679），中路股份（600818），力帆科技（601777），春风动力 （603129），爱玛科技（603529），隆鑫通用（603766），永安行（603776），新日股份（603787）， 绿通科技（301322），涛涛车业（301345），华洋赛车（834058） 相关报告：智研咨询发布 ...

Core Viewpoint - The report highlights the performance of Zhejiang Huayang Motorcycle Co., Ltd. in October 2025, indicating a significant increase in production but a decline in sales, reflecting market dynamics in the motorcycle industry [1]. Group 1: Company Performance - Zhejiang Huayang Motorcycle Co., Ltd. produced 3,473 motorcycles in October 2025, representing a year-on-year increase of 29.54% [1]. - The company's sales for the same period were 2,702 units, showing a year-on-year decline of 14.76% [1]. - The production-sales ratio stood at 77.8%, with an inventory backlog of 771 units [1]. Group 2: Industry Insights - The data is sourced from the China Automotive Industry (Motorcycle) Production and Sales Quick Report, indicating ongoing trends in the motorcycle sector [1]. - The report is part of a broader analysis provided by Zhiyan Consulting, which specializes in industry research and market assessments [1].

证券日报网讯 12月19日晚间，华洋赛车发布公告称，公司通过股份回购专用证券账户，共回购30，940 股，占回购前公司总股本的比例为0.055%。公司已于2025年12月19日在中国证券登记结算有限责任公 司北京分公司办理完毕上述30，940股回购股份的注销手续。本次回购股份注销完成前，公司股份总额 为56，087，050股，本次回购股份注销完成后，公司股份总额为56，056，110股，公司剩余库存股0 股。 （文章来源：证券日报） ...

数据来源：中国汽车工业(摩托车)产销快讯，智研咨询整理 根据中国汽车工业(摩托车)产销快讯数据显示：2025年9月浙江华洋赛车股份有限公司摩托车产量为 5530辆，同比增长26.08%，销量为7523辆，同比增长111.56%，产销率为136.04%，清仓1993辆。 近一年浙江华洋赛车股份有限公司摩托车产销情况统计图 上市公司：钱江摩托（000913），信隆健康（002105），征和工业（003033），久祺股份（300994）， 林海股份（600099），上海凤凰（600679），中路股份（600818），力帆科技（601777），春风动力 （603129），爱玛科技（603529），隆鑫通用（603766），永安行（603776），新日股份（603787）， 绿通科技（301322），涛涛车业（301345），华洋赛车（834058） 相关报告：智研咨询发布的《2026-2032年中国摩托车行业市场全景评估及发展策略分析报告》 知前沿，问智研。智研咨询是中国一流产业咨询机构，十数年持续深耕产业研究领域，提供深度产业研 究报告、商业计划书、可行性研究报告及定制服务等一站式产业咨询服务。专业的角度、品质化的 ...

Investment Rating - The investment rating for the company is "Accumulate (Maintain)" with a current price of 36.59 yuan [1] Core Insights - The company reported a revenue of 642 million yuan for the first three quarters of 2025, representing a year-on-year growth of 51.98%. However, the net profit attributable to the parent company was 48 million yuan, a decrease of 1.73% year-on-year [7] - The company is experiencing pressure on gross margins due to inventory clearance and increased marketing expenditures aimed at promoting products in the U.S. and Russia [7][11] - The company is expected to gradually commence production and trial operations for its new capacity of 400,000 units in the fourth quarter of 2025 [11] Financial Performance Summary - For 2025, the company forecasts total revenue of 714 million yuan, with a growth rate of 35.47%. The net profit attributable to the parent company is projected to be 57.28 million yuan, with a growth rate of 2.03% [9] - The gross margin for the first three quarters of 2025 was 19.57%, down 3.03 percentage points year-on-year, while the net margin was 7.82%, down 3.70 percentage points year-on-year [11] - The company’s earnings per share (EPS) for 2025 is estimated at 1.02 yuan, with a price-to-earnings (P/E) ratio of 35.83 times based on the current stock price [11][12] Market Data - The total share capital of the company is 56.09 million shares, with a circulation ratio of 49.13% [2] - The highest and lowest stock prices over the past 12 months were 58.00 yuan and 22.44 yuan, respectively [2] - The largest shareholder, Dai Jigang, holds a 37.14% stake in the company [2] Relative Performance - The company has shown relative returns of 3.30% over one month, 0.63% over three months, and 14.04% over twelve months [4]

Core Insights - The article discusses the performance of the motorcycle industry in China, highlighting specific companies and their production and sales figures for August 2025 [1]. Company Performance - Zhejiang Huayang Motorcycle Co., Ltd. produced 6,687 motorcycles in August 2025, representing a year-on-year decrease of 10.85% [1]. - The sales volume for Zhejiang Huayang was 6,233 units, showing a significant year-on-year decline of 26.57% [1]. - The production and sales rate for the company stood at 93.21%, with an inventory backlog of 454 units [1]. Industry Overview - The data is sourced from the China Automotive Industry (Motorcycle) Production and Sales Quick Report, compiled by Zhiyan Consulting [1]. - Zhiyan Consulting is recognized as a leading industry consulting firm in China, specializing in in-depth industry research reports and providing comprehensive consulting services for investment decisions [1].

Core Points - The motorcycle and other sectors saw an increase of 0.64% on September 30, with Zhenghe Industrial leading the gains [1] - The Shanghai Composite Index closed at 3882.78, up 0.52%, while the Shenzhen Component Index closed at 13526.51, up 0.35% [1] Sector Performance - Zhenghe Industrial (code: 003033) closed at 66.19, with a rise of 3.73% and a trading volume of 52,100 shares, totaling a transaction value of 312 million yuan [1] - Yong'an Xing (code: 603776) closed at 21.23, up 2.46%, with a trading volume of 73,500 shares and a transaction value of 156 million yuan [1] - Chunfeng Power (code: 603129) closed at 268.25, increasing by 2.04%, with a trading volume of 16,000 shares and a transaction value of 427 million yuan [1] - Other notable performers include Qianjiang Motorcycle (code: 000913) with a closing price of 17.07, up 1.19%, and a transaction value of 152 million yuan [1] Fund Flow Analysis - The motorcycle and other sectors experienced a net outflow of 68.19 million yuan from main funds, while retail funds saw a net inflow of 17.32 million yuan [2] - Speculative funds recorded a net inflow of 50.87 million yuan, indicating a mixed sentiment among different types of investors [2]

Market Overview - On September 29, the motorcycle and other sectors experienced a decline of 2.19%, with Qianli Technology leading the drop [1] - The Shanghai Composite Index closed at 3862.53, up 0.9%, while the Shenzhen Component Index closed at 13479.43, up 2.05% [1] Stock Performance - Key stocks in the motorcycle sector showed varied performance, with Zhonglu Co., Ltd. closing at 10.48, up 3.05%, and Qianli Technology closing at 12.42, down 5.55% [1][2] - The trading volume and turnover for notable stocks included: - Zhonglu Co., Ltd.: 107,400 shares, 113 million yuan - Qianli Technology: 1,073,500 shares, 1.334 billion yuan [1][2] Capital Flow - The motorcycle and other sectors saw a net outflow of 262 million yuan from main funds, while retail investors contributed a net inflow of 202 million yuan [2] - The capital flow for specific stocks indicated: - Jianghui General: Main funds net inflow of 11.57 million yuan, retail net inflow of 766.81 million yuan [3] - Qianli Technology: Main funds net outflow of 5.55% [2][3]

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Insights - The company, Huayang Racing, has a strong focus on independent innovation and is accelerating its international expansion, particularly in the energy motorcycle sector [3] - The company achieved a revenue of 530 million yuan in 2024, representing a year-on-year increase of 10.06%, with a net profit of 56.14 million yuan, up 9% [3][26] - The company is expected to maintain a growth trajectory with projected net profits of 75 million, 95 million, and 107 million yuan for 2025, 2026, and 2027 respectively, corresponding to EPS of 1.34, 1.69, and 1.91 yuan [3][7] Company Overview - Huayang Racing has 20 years of experience in independent research and development, focusing on off-road motorcycles and all-terrain vehicles, with a stable international business presence [3][16] - The company has maintained a foreign sales ratio of around 90% over the past two years, achieving full coverage across domestic provinces [3][28] - The company has established a global sales network covering over 60 countries and regions, with a significant presence in North America and Russia [18][28] Industry Trends - The global off-road motorcycle market is expected to reach $22.36 billion by 2034, driven by the growth of competitive sports and outdoor activities [4][39] - The North American market for all-terrain vehicles is projected to grow at a CAGR of 7.64% from 2025 to 2030, reaching a market size of $15.83 billion by 2030 [4][57] - The off-road motorcycle market is characterized by a healthy commercial environment suitable for small and medium enterprises, despite high competition from established brands [47] Competitive Advantages - Huayang Racing has improved both production capacity and innovation, enhancing its competitiveness in regional markets [5][59] - The company offers high product cost-performance ratios, with prices significantly lower than competitors like KTM [5][71] - The company has strategically focused on the Russian market, capitalizing on the exit of Western brands and increasing its market share [5][78] Financial Summary - The company’s revenue is projected to grow from 479 million yuan in 2023 to 1.088 billion yuan in 2027, with a CAGR of 11.50% from 2022 to 2024 [7][26] - The gross profit margin is expected to remain stable, with a slight decline projected from 22.3% in 2024 to 20.2% in 2027 [7] - The company’s P/E ratio is projected to decrease from 44.0 in 2023 to 21.0 in 2027, indicating potential for valuation improvement [7]