Core Viewpoint - Jinbei Automotive is focusing on multi-energy strategies including fuel, pure electric, and methanol to enhance local automotive and parts industry development, while aiming for industry transformation and upgrade [2] Financial Performance - For the first three quarters of 2025, Jinbei Automotive reported revenue of 3.319 billion yuan, a year-on-year decrease of 3.15%, and a net profit of 180 million yuan, down 38.17% [2] - In Q3 2025, the company achieved revenue of 1.187 billion yuan, a year-on-year increase of 0.92% and a quarter-on-quarter increase of 16.37%, with a net profit of 77 million yuan, reflecting a quarter-on-quarter growth of 195.18% [3] - By the end of Q3, the company's equity attributable to shareholders reached 1.575 billion yuan, up 12.93% from the end of the previous year, and cash funds increased to 1.951 billion yuan, a growth of 31.6% since the beginning of the year [3] Investment Strategies - Jinbei Automotive is actively seeking external investment opportunities through participation in industry funds, committing 240 million yuan to establish the Shenyang Automotive Industry Investment Fund with a 30% stake [3][4] - The investment is expected to provide access to quality project resources at lower selection costs, supporting the company's long-term sustainable development [4] Technological Advancements - The company is also focusing on emerging technologies such as autonomous driving, with its subsidiary Shenyang Baoju Automotive Transmission Systems successfully entering the core supply chain for leading autonomous logistics vehicle companies [4] - Projected sales revenue for Shenyang Baoju's axle products in the autonomous logistics vehicle sector is estimated at 17 million yuan for 2025, indicating progress in market expansion [4] Management Confidence - Recent stock purchases by company executives, including the president and vice president, reflect strong confidence in the company's future stability and long-term investment value [5] - The management's commitment to enhancing operational performance and financial metrics positions Jinbei Automotive favorably for growth opportunities in the ongoing automotive industry transformation in Shenyang [5]

证券代码：600609 证券简称：金杯汽车 公告编号：2025-049 金杯汽车股份有限公司 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。 问题 2：公司与宝马中国等合作方设立产业投资基金。该基金在 寻找项目时，金杯是否有优先投资或并购权？如何借助宝马和粤科的 资源，提升自身竞争力？ 金杯汽车股份有限公司（以下简称"公司"、"金杯汽车"）于 2025 年 11 月 12 日上午 10:00-11:00 在上证路演中心以网络互动形式召开 "2025 年第三季度业绩说明会"，现将有关事项公告如下： 一、业绩说明会召开情况 2025 年 10 月 31 日，公司在上海证券交易所网站（www.sse.com.cn） 及指定信息披露媒体披露了《金杯汽车股份有限公司关于召开 2025 年第三季度业绩说明会的公告》（详见公告：临 2025-046）。 2025 年 11 月 12 日上午 10:00-11:00，公司董事长冯圣良先生， 董事、总裁丁侃先生，董事、副总裁、董事会秘书孙学龙先 ...

Core Viewpoint - Jinbei Automotive is focusing on enhancing its operational performance and financial stability while actively participating in the evolving automotive industry, particularly in electric, intelligent, and low-carbon technologies [1][3]. Financial Performance - For the first three quarters of 2025, Jinbei Automotive achieved a revenue of 3.319 billion yuan, with a total profit of 335 million yuan; the third quarter alone saw a revenue of 1.187 billion yuan, representing a year-on-year growth of 0.92% and a quarter-on-quarter increase of 16.37% [1]. - The net profit attributable to shareholders in the third quarter was 77 million yuan, showing a significant quarter-on-quarter growth of 195% [1]. - As of the end of the third quarter, the company's equity attributable to shareholders reached 1.575 billion yuan, a 12.93% increase from the end of the previous year, and cash funds increased to 1.951 billion yuan, up 31.6% from the beginning of the year [1]. Business Operations - Jinbei Automotive's main business includes the design, production, and sale of automotive parts, with key products such as interior components, seats, and rubber parts, primarily serving clients like Brilliance BMW [1]. - The company is actively participating in the establishment of an investment fund, contributing 240 million yuan, which accounts for 30% of the total fund size of 800 million yuan, aimed at seizing opportunities in the automotive industry [2][3]. Strategic Initiatives - The company aims to leverage its participation in the investment fund to enhance its core competitiveness and strengthen relationships with strategic partners like BMW [3]. - Jinbei Automotive has successfully entered the core supply chain for autonomous logistics vehicles through its subsidiary, Shenyang Baoju Automotive Transmission Systems Co., Ltd., which has established itself as a key supplier for leading companies in the sector [3][4]. - The sales revenue from the vehicle bridge products for autonomous logistics vehicles is projected to be approximately 17 million yuan in 2025, indicating progress in market expansion within this niche [4].

Core Insights - The strategic cooperation agreement worth 200 million yuan between Jinbei (Shenyang) Automobile Co., Ltd. and Toyota Tsusho marks a significant shift from mere technical collaboration to a new phase of global market synergy [1] - Jinbei has a long-standing partnership with Toyota, dating back to 1989, and has sold over 2 million vehicles, exporting to more than 80 countries, establishing itself as a key player in China's commercial vehicle export sector [1] - Toyota Tsusho, a core enterprise of the Toyota Group, has a vast global network and offers comprehensive services, enhancing its competitive advantage in international trade [1] Market Expansion - The collaboration will focus on market channel synergy, with the first pilot project launched in the Saudi market, which has an automobile ownership of approximately 20 million and an annual market capacity of nearly 1 million vehicles [2] - Jinbei has developed a GCC-certified model specifically for the Saudi market and aims to achieve sales of 1,000 units in the first year and a total of 5,000 units within three years [2] - The partnership is expected to replicate this model in Central Asia and South America, indicating a strategic approach to expanding into potential markets [2] Industry Trends - This collaboration reflects a broader trend in the domestic automotive manufacturing industry, transitioning from scale advantages to brand advantages [3] - The integration of global mature channel resources for international expansion provides a new pathway for Chinese automotive brands and offers a replicable development model for the industry [3]

证券代码：600609 证券简称：金杯汽车 公告编号：2025-048 金杯汽车股份有限公司 关于高级管理人员及证券事务代表自愿增持公司股 份的公告 本公司董事会、全体董事及相关股东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： 增持主体：金杯汽车股份有限公司（以下简称"公司"）董事、总裁丁 侃，董事、副总裁、董事会秘书孙学龙，副总裁、财务总监张昆，副总裁于波， 董事会办公室主任、证券事务代表杨秀丽。 增持股份情况：上述增持主体已于 2025 年 11 月 5 日及 11 月 6 日，通过 上海证券交易所系统以集中竞价方式增持公司 A 股股份共计 60,000 股，增持金 额共计 297,400 元（不含交易费用）。 公司于近日收到高级管理人员及证券事务代表的《关于增持公司股份的告知 函》，基于对公司未来持续稳定发展的坚定信心，以及对公司长期投资价值的认 可，为维护公司资本市场形象，保护投资者合法权益，上述人员已于 2025 年 11 月 5 日及 11 月 6 日通过上海证券交易所系统以集中竞价方式共计增持公司 A 股 股份 60 ...

（文章来源：证券日报） 证券日报网讯 11月6日晚间，金杯汽车发布公告称，增持主体：公司董事、总裁丁侃，董事、副总裁、 董事会秘书孙学龙，副总裁、财务总监张昆，副总裁于波，董事会办公室主任、证券事务代表杨秀丽。 上述增持主体已于2025年11月5日及11月6日，通过上海证券交易所系统以集中竞价方式增持公司A股股 份共计60，000股，增持金额共计297，400元（不含交易费用）。 ...

Core Viewpoint - Jinbei Automobile (600609.SH) has received notifications from senior management and the securities affairs representative regarding their decision to increase their shareholding in the company, reflecting their confidence in the company's future development and long-term investment value [1] Group 1: Shareholding Increase - The increase in shareholding was executed on November 5 and 6, 2025, through the Shanghai Stock Exchange system via centralized bidding [1] - A total of 60,000 A-shares were purchased, with an aggregate investment amounting to 297,400 yuan (excluding transaction fees) [1] - The individuals involved in the share purchase include the Chairman and President Ding Kan, Vice President and Secretary of the Board Sun Xuelong, Vice President and CFO Zhang Kun, Vice President Yu Bo, and the Director of the Board Office and Securities Affairs Representative Yang Xiuli [1]

Company Overview - Jinbei Automobile Co., Ltd. is located in Shenyang, Liaoning Province, established on May 14, 1984, and listed on July 24, 1992. The company primarily engages in the design, production, and sales of automotive parts, with revenue composition as follows: 87.63% from parts, 7.66% from other services, and 4.71% from trade [1]. Stock Performance - As of November 6, Jinbei's stock price decreased by 2.02%, trading at 4.85 CNY per share, with a total market capitalization of 6.327 billion CNY. The stock has declined by 32.64% year-to-date, with a recent 6.36% increase over the last five trading days [1]. - The stock has appeared on the "Dragon and Tiger List" twice this year, with the most recent appearance on April 8, where it recorded a net buy of -6.4324 million CNY [1]. Financial Performance - For the period from January to September 2025, Jinbei reported a revenue of 3.319 billion CNY, a year-on-year decrease of 3.15%. The net profit attributable to the parent company was 180 million CNY, down 38.17% year-on-year [2]. - As of September 30, 2025, the number of shareholders increased by 7.50% to 59,800, while the average circulating shares per person decreased by 6.98% to 21,816 shares [2]. Shareholder Information - As of September 30, 2025, Hong Kong Central Clearing Limited was the fourth largest circulating shareholder, holding 53.0285 million shares, a decrease of 22.4284 million shares compared to the previous period [2].

Core Viewpoint - After several years of stagnation, Shenyang Jinbei is attempting a comeback in the light commercial vehicle market, facing significant challenges in a drastically changed market environment [1][2]. Group 1: Company Background and Market Position - Jinbei has been largely inactive since 2021, with a sharp decline in sales, nearly dropping out of the industry’s top ten in 2021 and becoming untraceable in 2022 [4][5]. - Despite the lack of public presence, the company has continued its foundational work, particularly in research and development, to prepare for a return to the market [5][6]. Group 2: Product Launch and Strategy - Jinbei launched five new models, including three fuel-powered and two electric vehicles, with prices ranging from 76,900 to 185,800 yuan, targeting various market segments such as logistics and business travel [9][11]. - The electric models, Jinbei Hai Shi Wang EV and Jinbei Hai Shi EV, feature advanced battery systems and competitive specifications, aiming to capture a share of the growing electric vehicle market [11][13]. - Jinbei plans to adopt a multi-energy strategy, including fuel, electric, methanol, CNG, and hybrid models, to enhance its product matrix [11][13]. Group 3: Sales and Marketing Strategy - Jinbei is revitalizing its dealer network, aiming to increase the number of dealers from over 80 to 100 by the end of the year, with plans for further expansion [13][14]. - The company is transitioning its international strategy from merely exporting products to establishing a localized brand presence, with a goal of selling 200,000 units overseas within five years [16][17]. Group 4: Future Outlook - Jinbei has set a strategic vision to achieve a 30% share of overseas production capacity by 2026, with new factories planned in Asia, Africa, and South America [16][17]. - The recent product launches and strategic initiatives signal Jinbei's commitment to reviving its market presence and adapting to current industry dynamics [17].

Core Viewpoint - Jinbei Automobile, a former leader in China's commercial vehicle market, has launched five new models and announced a global renewal strategy to re-establish its position in the industry [2]. Group 1: Strategic Directions - The renewal strategy focuses on three main areas: upgrading manufacturing to a 4.0 intelligent factory, implementing a "fuel + pure electric + multi-energy" parallel strategy for products, and adopting a dual-driven sales model of "domestic experience reshaping + overseas localization" [2]. - Jinbei has introduced five models, including three fuel vehicles and two pure electric vehicles, priced between 76,900 and 185,800 yuan, targeting logistics and business scenarios [2]. Group 2: Technological Advancements - The company has launched L2 level intelligent driving vehicles and is simultaneously validating L3+ technology while planning for L4 level deployment [2]. - Jinbei showcased L3+ autonomous driving vehicles and special modified vehicles, highlighting the product's extensibility [2]. Group 3: Partnerships and Market Expansion - Jinbei signed a 200 million yuan order with Toyota Tsusho, focusing on vehicle sales and channel expansion, with established channels in the Saudi market [2]. - The collaboration aims to transition from technical cooperation to global market synergy [2]. Group 4: Market Positioning - As a veteran company that once held a 75% market share in the medium commercial vehicle segment, Jinbei is attempting to restart growth with a multi-energy product matrix and a global layout [2].