本报告依据中国资产评估准则编制 卧龙资源集团股份有限公司拟收购卧龙英耐德（浙 江）氢能科技有限公司 51.00%股权涉及的卧龙英耐德 （浙江）氢能科技有限公司股东全部权益价值项目 资 产 评 估 报 告 中联评报字[2025]第 0168 号 共 2 册，第 1 册 中联资产评估集团有限公司 二〇二五年一月二十四日 | 声 明 | 1 | | --- | --- | | 摘 要 | 3 | | 一、委托人、被评估单位和其他资产评估报告使用人 5 | | | 二、评估目的 | 10 | | 三、评估对象和评估范围 10 | | | 四、价值类型 | 12 | | 五、评估基准日 | 13 | | 六、评估依据 | 13 | | 七、评估方法 | 16 | | 八、评估程序实施过程和情况 23 | | | 九、评估假设 | 25 | | 十、评估结论 | 26 | | 十一、特别事项说明 | 27 | | 十二、评估报告使用限制说明 30 | | | 十三、评估报告日 | 31 | | 附件 | 33 | 卧龙资源集团股份有限公司拟收购卧龙英耐德（浙江）氢能科技有限公司 51.00%股权涉及的卧龙英耐德 （浙江） ...

Financial Performance Forecast - The company expects a net profit attributable to shareholders of approximately 800 million yuan for 2024, an increase of about 270.15 million yuan, representing a year-on-year growth of approximately 51%[3] - The estimated net profit attributable to shareholders after deducting non-recurring gains and losses is around 690 million yuan, an increase of about 212.75 million yuan, reflecting a year-on-year growth of approximately 45%[3] - The total profit for the previous year was 767.39 million yuan, with a net profit attributable to shareholders of 529.85 million yuan and a net profit after deducting non-recurring gains and losses of 477.25 million yuan[5] Strategic Focus - The company adheres to a three-line growth strategy, focusing on technological leadership and optimizing revenue structure while continuously exploring cost reduction opportunities[6] Performance Forecast Uncertainties - There are currently no significant uncertainties that could affect the accuracy of the performance forecast[7] - The forecast data is preliminary and subject to final audited financial results in the 2024 annual report[8]

Summary of Key Points from Conference Call Industry Overview - The conference focused on the robotics industry, highlighting recent developments and trends in the sector, particularly the entry of major automotive companies like BYD and GAC into the robotics space [1][2]. Core Insights and Arguments 1. **NVIDIA's Omniverse and AI Development**: - NVIDIA's Omniverse is positioned as a significant tool for the next generation of software, enhancing the design and production phases of robotics [2][3]. - The core argument is that the future of AI will integrate physical AI, which involves algorithms that adhere to physical laws, aiding in robotics and autonomous driving [3][4]. 2. **Physical AI and Simulation**: - The development of physical AI models is crucial for enabling robots to perceive and interact with the real world effectively [7][8]. - The platform allows for real-time simulation, which significantly reduces the time required for testing and validation of robotic systems [6][9]. 3. **Market Dynamics and Growth Potential**: - The robotics sector is experiencing rapid growth, with significant interest from software companies and those with strong image processing capabilities [9][10]. - The integration of AI in robotics is expected to accelerate the development and deployment of autonomous systems across various industries [11][12]. 4. **Company-Specific Highlights**: - **DaoTong Technology**: Recently released a strong earnings forecast, projecting a revenue increase of 20% year-over-year, with a profit margin of 270% [12][13]. - **Market Positioning**: DaoTong is focusing on the automotive electronics market, which constitutes 70% of its revenue, indicating strong pricing power and growth potential [13][14]. 5. **Emerging Trends in Robotics**: - The industry is witnessing a shift towards more sophisticated solutions, including AI-driven inspection and monitoring systems in hazardous environments [21][22]. - Companies are increasingly adopting robots for inspection tasks in industries like petrochemicals, where safety and efficiency are paramount [22][23]. Additional Important Insights 1. **Technological Advancements**: - The integration of advanced sensors and AI capabilities in robots is enhancing their operational efficiency and safety in industrial applications [26][27]. - The development of flexible and adaptable robotic systems is crucial for meeting the diverse needs of various industries [30][31]. 2. **Investment Opportunities**: - Companies like ZhongKong Technology are positioned as leaders in industrial software and robotics, with strategic partnerships enhancing their market presence [19][20]. - The potential for growth in the robotics sector is significant, with projections indicating a robust increase in demand for automation solutions across multiple industries [44][45]. 3. **Challenges and Considerations**: - The robotics industry faces challenges related to data quality and the need for high-fidelity simulation environments to train AI models effectively [11][12]. - Safety concerns in high-risk industries necessitate rigorous testing and validation of robotic systems before deployment [21][22]. In conclusion, the robotics industry is at a pivotal moment, with significant advancements in AI and simulation technologies driving growth and innovation. Companies that leverage these technologies effectively are likely to emerge as leaders in the market.

证券代码：600580 证券简称：卧龙电驱 公告编号：临 2025-004 卧龙电气驱动集团股份有限公司 具体内容详见刊登于《中国证券报》《上海证券报》和上海证券交易所网站 （http://www.sse.com.cn）的《卧龙电驱关于浙江龙能电力科技股份有限公司股票 拟在全国中小企业股份转让系统终止挂牌的公告》。 九届九次监事会决议公告 本公司监事会及全体监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。 一、监事会会议召开情况 卧龙电气驱动集团股份有限公司（以下简称"公司"或"卧龙电驱"）九届 九次监事会会议于 2025 年 01 月 05 日以通讯表决方式召开。本次会议的会议通 知和材料已于 2025 年 01 月 04 日分别以专人送达、电子邮件或传真等方式发出。 本次会议为紧急会议，经全体监事一致同意豁免会议通知期限要求，与会的各位 监事已知悉与所议事项相关的必要信息。会议由监事会主席赵建良主持，会议应 到监事 3 人，实到监事 3 人。 本次会议的召集、召开符合有关法律、行政法规、部门规章、规范性文件和 《公司章程》的规定，表决形成的决 ...

证券代码：600580 证券简称：卧龙电驱 公告编号：临 2025-003 卧龙电气驱动集团股份有限公司 九届十一次临时董事会决议公告 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。 一、董事会会议召开情况 卧龙电气驱动集团股份有限公司（以下简称"公司"或"卧龙电驱"）九届 十一次临时董事会会议于 2025 年 01 月 05 日以通讯表决方式召开。本次会议的 会议通知和材料已于 2025 年 01 月 04 日分别以专人送达、电子邮件或传真等方 式发出。本次会议为紧急会议，经全体董事一致同意豁免会议通知期限要求，与 会的各位董事已知悉与所议事项相关的必要信息。公司现有董事 9 人，参会董事 9 人。公司监事会成员、高级管理人员列席了会议。 本次会议的召集、召开符合有关法律、行政法规、部门规章、规范性文件和 《公司章程》的规定，表决形成的决议合法、有效。 （二）审议通过《关于浙江龙能电力科技股份有限公司股票拟在全国中小企 业股份转让系统终止挂牌对异议股东权益保护措施的议案》 二、董事会会议审议情况 （一）审议通过《关于浙江龙能 ...

财联社1月5日电，卧龙电驱公告，公司拟将持有的子公司龙能电力43.21%股权、卧龙储能80%股权、卧 龙英耐德51%股权、舜丰电力70%股权出售给关联方卧龙资源。 交易完成后，公司将不再拥有上述子公司的控制权，合并报表范围将发生变动。 卧龙资源拟采用现金方式支付股权对价。 本次交易构成关联交易，但不构成重大资产重组。 交易方案仍需进一步论证和沟通协商，尚未签署正式交易协议。 本次交易相关事项尚存在重大不确定性。 ...

Company Announcement - Wolong Electric Drive (600580) announced on January 5, 2025, that its 9th 11th interim board meeting and 9th 9th supervisory board meeting approved the termination of Longneng Power Technology Co Ltd's plan to apply for listing on the Beijing Stock Exchange [1] - The company plans to sell its 43 21% stake in Longneng Power, 80% stake in Zhejiang Wolong Energy Storage System Co Ltd, 51% stake in Wolong Inand (Zhejiang) Hydrogen Energy Technology Co Ltd, and 70% stake in Shaoxing Shangyu Shunfeng Electric Power Co Ltd to Wolong Resources Group Co Ltd [1] - Wolong Resources will pay for the equity in cash, and after the transaction, the company will no longer have control over these subsidiaries, leading to changes in the consolidated financial statements [1] - The company holds a 22 76% stake in Zhejiang Wolong Real Estate Investment Co Ltd, the major shareholder of Wolong Resources, and Wolong Holdings Group Co Ltd is the controlling shareholder of Wolong Resources, making this transaction a related party transaction [1]

具体申请终止挂牌相关事宜由龙能电力董事会负责办理。 财联社1月5日电，卧龙电驱公告，公司于2025年01月05日召开九届十一次临时董事会会议及九届九次监 事会会议，审议通过了关于控股子公司龙能电力股票拟在全国中小企业股份转让系统终止挂牌的议案。 基于龙能电力经营发展和长期资本战略规划的考虑，同时结合当前市场环境的影响，公司同意龙能电力 申请其股票在全国中小企业股份转让系统终止挂牌。 回购履行期限为自龙能电力股票在全国中小企业股份转让系统终止挂牌之日起12个月内完成股份回购。 公司承诺对满足条件的异议股东所持的龙能电力股份进行回购。 回购价格以异议股东取得该部分股份的成本价格与最近一期龙能电力经审计归属于挂牌公司股东每股净 资产（两者孰高）为参考，具体价格及回购方式以届时与异议股东协商确定为准。 本次拟申请终止挂牌事项尚需取得龙能电力股东大会和相关监管部门的审核、批准，存在一定的不确定 性。 ...

Investment Rating - The report maintains a "Buy" rating for the company, indicating a strong performance expectation relative to the market [6][7]. Core Insights - The company has a strong foundation in the motor manufacturing sector, with a focus on electric motors and a strategic expansion into the fields of flying car motor drive systems and embodied intelligent robots. The market has begun to recognize the company's forward-looking positioning in the low-altitude economy, while its potential in the embodied intelligent robot sector remains undervalued [6][7]. - The company has established a partnership with Shanghai Zhiyuan New Technology Co., focusing on embodied intelligence technology and flexible manufacturing solutions, which will drive innovation in general robot products [6]. - The financial forecasts for the company show a steady increase in revenue and net profit over the next few years, with projected net profits of 917 million, 1,095 million, and 1,180 million yuan for 2024, 2025, and 2026 respectively [9][19]. Financial Summary - Total revenue is expected to grow from 15,567 million yuan in 2023 to 18,476 million yuan by 2026, reflecting a compound annual growth rate [9]. - The company's net profit is projected to increase significantly, with a forecasted growth rate of 73.1% in 2024, followed by 19.4% in 2025 and 7.8% in 2026 [19]. - The gross margin is expected to stabilize around 25% over the forecast period, indicating consistent operational efficiency [19]. Industry Positioning - The company has been actively developing key components for humanoid robots, including joint modules, drivers, and motors, which are essential for various applications in industrial automation and robotics [16]. - The company has also created multiple industry solutions, such as bionic robot inspection systems and emergency delivery systems, which leverage advanced technologies like motion control and autonomous navigation [17].

证券代码：600580 证券简称：卧龙电驱 公告编号：2024-092 卧龙电气驱动集团股份有限公司 关于股份回购实施结果暨股份变动的公告 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。。 重要内容提示： | 回购方案首次披露日 | 2024/1/25，由董事长庞欣元提议 | | --- | --- | | 回购方案实施期限 | 待董事会审议通过后 个月 12 | | 预计回购金额 | 5,000 万元~10,000 万元 | | 回购价格上限 | 16.82 元/股 | | 回购用途 | □减少注册资本 √用于员工持股计划或股权激励 □用于转换公司可转债 | | | □为维护公司价值及股东权益 | | 实际回购股数 | 514.82 万股 | | 实际回购股数占总股本比例 | 0.40% | | 实际回购金额 | 6,000.54 万元 | | 实际回购价格区间 | 元/股~15.66 元/股 8.39 | 一、 回购审批情况和回购方案内容 卧龙电气驱动集团股份有限公司（以下简称"卧龙电驱"或"公司"）于 2024 年 01 ...