Core Viewpoint - Lingyun Co., Ltd. (600480) experienced a low opening and a subsequent rise in stock price, reaching a peak of 11.92 CNY per share, but closed at 11.83 CNY, reflecting a slight increase of 0.08% with a trading volume of 1.04 billion CNY, indicating a relatively quiet market and weak rebound potential [1]. Group 1: Stock Performance - The stock price of Lingyun Co., Ltd. reached a high of 11.92 CNY per share during the trading session [1]. - The closing price was 11.83 CNY per share, marking an increase of 0.08% [1]. - The trading volume was 1.04 billion CNY, with a turnover rate of only 0.73%, which is a new low for the year [1]. Group 2: Company Fundamentals - Lingyun Co., Ltd. is a global automotive parts supplier with brands including Lingyun and Yada, focusing on products such as body safety structure products, new energy vehicle battery products, and automotive pipeline systems [2]. - The company is actively expanding into new energy battery management systems, packaging systems, automotive thermal management systems, fluid control systems, and intelligent manufacturing engineering [2]. Group 3: Investor Concerns - Investors expressed dissatisfaction regarding the company's stock price decline and questioned the lack of measures to maintain market value [5]. - The company responded that it values market performance and believes that enhancing operational performance and solidifying intrinsic value are fundamental to stabilizing market value [5]. - The company also emphasized its commitment to improving business quality and creating good returns for investors, acknowledging that stock price fluctuations are influenced by various market factors [7][8].

Core Points - Lingyun Co., Ltd. announced the approval to register and issue medium-term notes amounting to 1 billion RMB [2] - The registration is valid for two years from the date of the acceptance notice issued by the Trading Association [2] - The issuance will be managed by China Bank as the lead underwriter, allowing for phased issuance during the registration period [2] Summary by Sections - **Company Announcement** - Lingyun Co., Ltd. will hold its 2024 annual shareholders' meeting on May 20, 2025, to review the proposal for the issuance of medium-term notes [2] - **Registration Details** - The registered amount for the medium-term notes is set at 1 billion RMB, with the registration valid for two years from the acceptance notice [2] - The company must file for record-keeping with the Trading Association prior to any issuance after registration [2] - **Management and Disclosure** - The issuance will be managed according to the resolutions of authorized institutions and relevant management requirements [2] - After the issuance is completed, the results must be disclosed through channels recognized by the Trading Association [2]

Core Viewpoint - Lingyun Co., Ltd. has received a registration notice from the trading association for its medium-term notes, allowing it to issue up to 1 billion yuan in registered notes over the next two years [1] Group 1: Registration Details - The registered amount for the medium-term notes is 1 billion yuan, valid for two years from the date of the notice [1] - The lead underwriter for the issuance is China Bank Co., Ltd. [1] Group 2: Issuance Management - The company can issue the medium-term notes in installments during the registration validity period [1] - Prior to any issuance, the company must file for record with the trading association [1] - The company is required to manage the issuance according to the resolutions of authorized institutions and relevant management requirements [1] - After the issuance is completed, the results must be disclosed through channels recognized by the trading association [1]

Core Viewpoint - Lingyun Co., Ltd. has received a registration notice from the trading association for its medium-term notes, allowing it to issue up to 1 billion yuan in notes over the next two years [1] Group 1 - The registered amount for the medium-term notes is 1 billion yuan, valid for two years from the date of the notice [1] - The lead underwriter for the issuance is China Bank Co., Ltd. [1] - The company can issue the medium-term notes in installments during the registration validity period, and must file with the trading association prior to any issuance [1]

凌云工业股份有限公司 关于中期票据获准注册的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、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法律责任。 凌云工业股份有限公司（以下简称"公司"）于 2025 年 5 月 20 日召开 2024 年年度股东大会，审议通过了《关于注册发行 10 亿元中期票据的议 案》，同意公司向中国银行间市场交易商协会（以下简称"交易商协会"）申 请注册发行不超过 10 亿元人民币的中期票据。有关情况请查阅公司在《中国证 券报》《上海证券报》及上海证券交易所网站（http://www.sse.com.cn）披露的 临时公告（公告编号：2025-022、038）。 证券代码：600480 证券简称：凌云股份 编号：2025-068 公司将根据《接受注册通知书》的要求，结合资金需求和市场情况择机发 行中期票据，并按有关规定及时履行信息披露义务。 特此公告。 凌云工业股份有限公司董事会 2025 年 11 月 22 日 近日，公司收到交易商协会出具的《接受注册通知书》（中市协注 [2025]MTN1115 号），同意接受公司中期票据注册。主要内容如下： 1. ...

证券代码：600480 证券简称：凌云股份 公告编号：2025-067 凌云工业股份有限公司 关于 2025 年第三季度业绩说明会召开情况的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、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法律责任。 凌云工业股份有限公司（以下简称"公司"）于 2025 年 11 月 18 日 15:00-16:00 在"上证路演中心"（https://roadshow.sseinfo.com/）以网络互动交流方式召开了 2025 年第三季度业绩说明会。公司已于 2025 年 10 月 28 日在上海证券交易所 网站（https://www.sse.com.cn）披露了《关于召开 2025 年第三季度业绩说明 会的公告》（公告编号：2025-066）。现将本次活动召开情况公告如下： 一、活动召开情况 2025 年 11 月 18 日，公司董事长罗开全，总经理郑英军，董事会秘书、总 会计师李超，独立董事宋衍蘅、蔡成维参加了本次业绩说明会，与投资者进行了 互动交流和沟通，在信息披露允许的范围内就投资者普遍关注的问题进行了回复。 二、投资者提出的主要问题及 ...

Core Viewpoint - Lingyun Co., Ltd. (600480) is actively managing its production activities based on market orders and has developed mature technical and process plans for capacity enhancement [1] Group 1 - The company is progressing its production activities in an orderly manner according to market demand [1] - A mature technical and process plan for capacity enhancement has been established [1] - The company will conduct prudent evaluations in line with market trends and business development needs before advancing its capacity plans [1] Group 2 - The company aims to ensure the robust implementation of its capacity planning and optimal efficiency when the timing is right [1]

Core Viewpoint - Lingyun Co., Ltd. (600480) experienced a significant decline in stock price, dropping to a new low of 11.9 CNY per share, reflecting strong selling pressure in the market [1] Company Performance - As of the morning close, Lingyun Co., Ltd. saw a decrease of 3.48% in stock price, with a turnover rate of 1.53% and a trading volume exceeding 2.2 billion CNY, surpassing the total from the previous Friday [1] - The company's market capitalization is reported at 14.58 billion CNY, with a current share price of 11.93 CNY [2] Industry Outlook - Since October, several institutions, including Huaxi Securities, have lowered their earnings forecasts for Lingyun Co., Ltd. due to intensified industry competition, which is expected to pressure the company's gross margin in the short term [3] - Huaxi Securities revised its revenue projections for 2025-2027 to 20.742 billion CNY, 22.566 billion CNY, and 24.258 billion CNY, down from previous estimates of 21.495 billion CNY, 23.6 billion CNY, and 25.606 billion CNY [3] - The expected net profit attributable to the parent company for the same period has also been adjusted to 799 million CNY, 899 million CNY, and 994 million CNY, compared to earlier forecasts of 948 million CNY, 1.05 billion CNY, and 1.137 billion CNY [3]

Group 1 - The core viewpoint of the news is that Lingyun Co., Ltd. has shown a significant increase in stock price and positive financial performance, indicating potential investment opportunities [1][2]. - As of November 14, Lingyun's stock price increased by 2.25% to 12.72 CNY per share, with a total market capitalization of 15.548 billion CNY [1]. - Year-to-date, Lingyun's stock price has risen by 59.30%, with a recent decline of 1.01% over the last five trading days [1]. Group 2 - For the period from January to September 2025, Lingyun achieved operating revenue of 14.07 billion CNY, representing a year-on-year growth of 5.41%, and a net profit attributable to shareholders of 588 million CNY, up 17.47% year-on-year [2]. - The company's main business segments include automotive parts, which account for 91.23% of revenue, and plastic pipeline systems, contributing 5.27% [1]. - Lingyun has distributed a total of 1.689 billion CNY in dividends since its A-share listing, with 837 million CNY distributed over the past three years [3]. Group 3 - As of September 30, 2025, the number of shareholders in Lingyun increased by 20.56% to 55,900, while the average number of circulating shares per person decreased by 17.05% to 21,547 shares [2]. - The top ten circulating shareholders include various funds, with notable changes in holdings, such as a decrease of 34.596 million shares for Yongying Advanced Manufacturing Mixed Fund [3].

Core Viewpoint - Lingyun Co., Ltd. has successfully secured orders from leading domestic digital energy companies, leveraging its liquid cooling technology for mass supply [1] Company Summary - Lingyun's liquid cooling products feature self-developed core rubber materials that exhibit superior aging resistance and impermeability under extreme conditions, with a lifespan improvement of 50% compared to conventional products [1] - The company has successfully integrated into the global supply chain, gaining favor from domestic high-tech digital energy leader client H and supplying liquid cooling pipelines in bulk to renowned global manufacturers such as CoolerMaster, AVC, and Baode Huannan [1] - Lingyun's liquid cooling systems are also utilized in self-controlled liquid cooling solutions by companies like Invec and Shenling Environment [1]