Group 1 - The company announced that its first extraordinary general meeting of shareholders for 2025 was held on July 31, 2025 [2] - The meeting approved the proposal regarding the revision and cancellation of the supervisory board [2]

证券代码：600482 证券简称：中国动力 公告编号：2025-053 债券代码：110808 债券简称：动力定 02 中国船舶重工集团动力股份有限公司 2025年第一次临时股东大会决议公告 本公司及董事会全体成员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。 重要内容提示： 本次会议是否有否决议案：无 一、 会议召开和出席情况 (一)股东大会召开的时间：2025 年 7 月 31 日 (二)股东大会召开的地点：北京市海淀区昆明湖南路 72 号 (三)出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： | 1、出席会议的股东和代理人人数 | 462 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 1,379,783,723 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股 | | | 份总数的比例（%） | 61.2350 | (四)表决方式是否符合《公司法》及《公司章程》的规定，大会主持情况等。 本次股东大会由公司董事会召集，公司董事长李勇先生主持。本次股东大会采 1 取现场和网络投 ...

北京市金杜律师事务所 关于中国船舶重工集团动力股份有限公司 2025 年第一次临时股东大会 的法律意见书 致：中国船舶重工集团动力股份有限公司 北京市金杜律师事务所（以下简称本所）接受中国船舶重工集团动力股份有限 公司（以下简称公司）委托，根据《中华人民共和国证券法》（以下简称《证券法》）、 《中华人民共和国公司法》（以下简称《公司法》）、中国证券监督管理委员会《上 市公司股东会规则》（以下简称《股东会规则》）等中华人民共和国境内（以下简 称中国境内，为本法律意见书之目的，不包括中国香港特别行政区、中国澳门特别 行政区和中国台湾省）现行有效的法律、行政法规、规章和规范性文件和现行有效 的《中国船舶重工集团动力股份有限公司章程》（以下简称《公司章程》）有关规 定，指派律师出席了公司于 2025 年 7 月 31 日召开的 2025 年第一次临时股东大 会（以下简称本次股东大会），并就本次股东大会相关事项出具本法律意见书。 为出具本法律意见书，本所律师审查了公司提供的以下文件，包括但不限于： 1. 经公司 2024 年第四次临时股东大会审议通过的《公司章程》； 3. 公司于 2025 年 7 月 16 日刊登于上 ...

Group 1 - As of July 30, the stock price of China Power was 23.12 yuan, down 1.07% from the previous trading day [1] - The trading volume on that day reached 492 million yuan, with a turnover rate of 0.94% [1] - The company is a significant supplier of power equipment in China, with its main business covering the research and manufacturing of marine power equipment, gas turbines, and diesel engines [1] Group 2 - China Power will hold its first extraordinary general meeting of shareholders for 2025 on July 31, primarily to review amendments to the company's articles of association and the cancellation of the supervisory board meeting [1] - On July 30, the net outflow of main funds for China Power was 17.27 million yuan [1]

Summary of Key Points from the Conference Call Industry Overview - The conference call focuses on the military industry and new materials sector, particularly highlighting the shipbuilding and low-cost ammunition segments [1][2]. Core Insights and Arguments - **Shipbuilding Sector Performance**: Companies like China Shipbuilding, China Power, China Ship Defense, and China Heavy Industry reported significant profit increases in the first half of the year, with China Shipbuilding's net profit reaching between 2.8 billion to 3.1 billion yuan, a year-on-year growth of 98% to 119% [3]. - **Low-Cost Ammunition Sector**: The low-cost ammunition segment is experiencing high demand, with upstream, midstream, and downstream companies showing substantial profit growth. For instance, Beihua Co. reported a net profit of 98 million to 110 million yuan, a year-on-year increase of 182% to 220% [6]. - **Future Growth Drivers**: The military industry is expected to grow due to domestic smart battlefield needs, military trade demand, and broader military-related requirements, including low-altitude economy and commercial aerospace [7]. Additional Important Content - **Commercial Aerospace Developments**: The National Space Administration has initiated measures to enhance quality supervision of commercial aerospace projects, indicating a shift towards proactive governance in the industry [10][12]. - **Low Altitude Economy Initiatives**: Chengdu has established a future industry fund exceeding 100 billion yuan to support low-altitude economic development, including flying cars [13]. - **Additive Manufacturing Innovations**: Recent advancements in additive manufacturing technologies are expanding applications from metals to composites, with significant investments in core technology development [14]. - **Commercial Launch Services**: A recent tender for launch services worth 1.336 billion yuan indicates a growing role for private commercial rockets in the aerospace sector [9]. Conclusion - The military and aerospace industries are poised for growth driven by technological advancements and increasing domestic and international demand. The focus on quality management and innovation will be crucial for sustaining this growth trajectory.

Group 1 - The core index, the Guozheng Free Cash Flow Index, has decreased by 0.37% as of July 25, 2025, with mixed performance among constituent stocks, including leading gains from companies like Lianxu Electronics and Huaren Health, while companies like Yaxiang Integration and Zhejiang Construction led the declines [1] - The Free Cash Flow ETF (159201) also fell by 0.37%, with the latest price at 1.07 yuan. Over the past week, the ETF has seen a cumulative increase of 3.47%, ranking first among comparable funds [1] - In terms of liquidity, the Free Cash Flow ETF had a turnover of 0.91% during the trading session, with a transaction volume of 36.4183 million yuan. The average daily transaction volume over the past week reached 335 million yuan, ranking first among comparable funds [1] Group 2 - The Free Cash Flow ETF has attracted a total of 170 million yuan in the last five trading days, with its latest scale reaching 4.007 billion yuan, marking a new high since its inception and ranking first among comparable funds [1] - The management fee for the Free Cash Flow ETF is 0.15%, and the custody fee is 0.05%, making it the lowest among comparable funds [3] - As of June 30, 2025, the top ten weighted stocks in the Guozheng Free Cash Flow Index accounted for 57.97% of the index, including SAIC Motor, China National Offshore Oil, Midea Group, and Gree Electric [3][5]

Core Viewpoint - The market for starting lead-acid batteries in China is experiencing a decline due to various factors including technological substitution, policy restrictions, changes in consumer demand, and fluctuations in raw material prices, particularly as lithium batteries gain prominence in the automotive sector [1][4][6]. Industry Characteristics and Technical Parameters - Starting lead-acid batteries are designed for internal combustion engine vehicles, providing high discharge rates to start engines. Key technical parameters include rated capacity, rated voltage, and low-temperature starting performance [2]. Current Development Status of the Industry - Prior to 2019, the market for lead-acid batteries grew due to the rapid development of the automotive industry and communication infrastructure. However, the market has seen a decline recently, with the market size expected to be 905.4 billion yuan in 2024 and 851.27 billion yuan in 2025 [4][6]. Market Size and Forecast - The starting lead-acid battery market in China is projected to reach 224.81 billion yuan in 2024, with automotive starting batteries accounting for 176.55 billion yuan and motorcycle starting batteries for 16.93 billion yuan. By 2025, the market is expected to decline to 211.63 billion yuan [6][10]. Industry Chain - The upstream of the starting lead-acid battery industry includes raw materials such as lead, sulfuric acid, and plastic. The midstream involves production processes like plate production and battery assembly, while the downstream primarily serves the automotive sector [8]. Competitive Landscape - China is a leading producer and consumer of lead-acid batteries, with major companies including Tianneng Group, Fengfan Co., Camel Group, and Tianjin Jieshi Battery Co. These companies have significant advantages in technology, market expansion, and brand development [15][18]. Key Enterprises - Tianneng Group focuses on various battery types, achieving a revenue of 41.835 billion yuan in 2024 with a gross margin of 16.15% [18]. Fengfan Co. has a market share of over 25% in automotive starting batteries and 30% in traction batteries [20]. China Power has a revenue of 8.051 billion yuan with a gross margin of 11.75% [21]. Industry Development Trends - The starting lead-acid battery market is expected to grow as automotive technology advances, with increasing demand for energy-efficient vehicles. The market is anticipated to enter a golden development era, driven by the need for intelligent and personalized battery solutions [23].

Core Points - The company is holding a shareholders' meeting on July 31, 2025, at 9:00 AM in Beijing, with provisions for online voting [2][3] - The agenda includes the review and voting on various proposals, including amendments to the company's articles of association and the cancellation of the supervisory board [3][4] - The proposed amendments aim to enhance the governance structure and align with the latest regulatory requirements [4][5] Group 1: Meeting Details - The meeting will be attended by shareholders, representatives, directors, supervisors, senior management, and a witnessing lawyer [2] - Voting will be conducted in an orderly manner, with specific instructions for both cumulative and non-cumulative voting [1][2] Group 2: Proposed Amendments - The company plans to revise its articles of association to eliminate the supervisory board, transferring its responsibilities to the audit committee of the board of directors [4][5] - The amendments will ensure compliance with the latest securities regulatory requirements and reflect the company's actual situation [4][5] Group 3: Voting Procedures - Shareholders must fill out voting ballots accurately, with clear instructions on how to express their votes [1][2] - The results of the voting will be announced after counting, and legal opinions will be provided regarding the meeting's compliance with regulations [3][4]

中国船舶重工集团动力股份有限公司 2025 年第一次临时股东大会 会 议 材 料 2025 年 7 月 31 日 中国船舶重工集团动力股份有限公司 2025 年第一次临时股东大会现场会议须知 为维护投资者的合法权益，确保股东大会的正常秩序和议事效率，根据《公 司法》《中国船舶重工集团动力股份有限公司章程》的有关规定，特制定本次股 东大会现场会议须知： 1、为保证股东大会的严肃性和正常秩序，切实维护股东的合法权益，务请 出席本次股东大会的相关人员准时签到参会，参会资格未得到确认的人员不得进 入会场。 2、股东参加股东大会，依法享有发言权、表决权等各项权利，并履行法定 义务和遵守有关规定，对于扰乱股东大会秩序和侵犯其它股东合法权益的，将报 告有关部门处理。 3、股东大会召开期间，股东可以发言。股东要求发言时应先举手示意，经 大会主持人许可后，方可发言或提出问题，股东要求发言时不得打断会议报告人 的报告或其它股东的发言，不得提出与本次股东大会议案无关的问题。 4、公司召开股东大会按如下程序进行：首先由报告人向大会做各项议案的 报告，之后股东对各项报告进行审议讨论，股东在审议过程中提出的建议、意见 或问题，由大会主持 ...

Group 1 - The China Shipbuilding sector experienced a decline of 2.76%, ranking among the top losers in the concept sector as of the market close on July 23 [1][2] - Within the China Shipbuilding sector, companies such as China Ship Emergency, Kunshan Intelligent, and China Ship Han Guang saw significant declines [1] - The sector faced a net outflow of 584 million yuan from main funds, with 10 stocks experiencing net outflows, and 5 stocks seeing outflows exceeding 50 million yuan [2] Group 2 - The stock with the highest net outflow was China Ship Emergency, which had a net outflow of 138.34 million yuan and a decline of 7.12% [2] - Other notable stocks with significant net outflows included China Shipbuilding, China Ship Defense, and China Heavy Industry, with net outflows of 112.41 million yuan, 80.87 million yuan, and 71.84 million yuan respectively [2] - The trading volume for China Ship Emergency was 9.33%, indicating a relatively high turnover rate compared to other stocks in the sector [2]