股票代码：600609 股票简称：金杯汽车 公告编号：临 2025-044 （一）审议通过了《2025 年第三季度报告》。 金杯汽车股份有限公司 第十届董事会第二十九次会议决议公告 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 （一）金杯汽车股份有限公司（以下简称"公司"）第十届董事 会第二十九次会议的召开符合有关法律、行政法规、部门规章、规范 性文件和公司章程的规定。 （二）公司第十届董事会第二十九次会议通知，于2025年10月28 日以书面通知或电子邮件方式发出，之后电话确认。 （三）本次会议于2025年10月30日，以现场结合通讯方式召开。 （四）会议应出席董事11名，实际出席董事11名，实际表决董事 11名。 （五）冯圣良董事长主持会议，公司监事和高级管理人员列席了 会议。 二、董事会会议审议情况 本议案已经公司董事会审计委员会 2025 年第五次会议全体委员 同意后提交董事会审议。 表决结果：同意 11 票，弃权 0 票，反对 0 票。 详见公司当日披露的《2025 年第三季度报告》。 ...

金杯汽车股份有限公司 2025 年第三季度报告 证券代码：600609 证券简称：金杯汽车 金杯汽车股份有限公司 2025 年第三季度报告 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： 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整，不存 在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务信息 的真实、准确、完整。 第三季度财务报表是否经审计 □是 √否 一、主要财务数据 （一） 主要会计数据和财务指标 单位：元 币种：人民币 | 加权平均净资产收益率（%） | 5.04 | 减少 2.08 | 12.15 | 减少 11.88 | 个 | | --- | --- | --- | --- | --- | --- | | | | 个百分点 | | 百分点 | | | | 本报告期末 | | 上年度末 | 本报告期末 | 比上年度末 增减变动幅 | | | | | | | 度(%) | | ...

Core Insights - The company aims to solidify its position in the domestic market while expanding its global reach, emphasizing the importance of maintaining a strong presence in China as a mainstream commercial vehicle manufacturer [1][2] Company Strategy - The brand has undergone a strategic renewal, launching new models including three fuel vehicles and two electric vehicles, with prices ranging from 76,900 to 185,800 yuan, targeting diverse applications such as logistics and passenger transport [1][3] - A strategic cooperation agreement with Toyota Tsusho has been signed, involving a 200 million yuan order and collaborative efforts in vehicle sales and channel operations, with successful implementation in the Saudi market [1][3] Product Development - The company is focusing on three core development directions: manufacturing upgrades, product renewal, and sales model innovation [3][4] - Manufacturing upgrades will leverage a new smart commercial 4.0 factory to enhance production efficiency and product consistency [3] - The product strategy includes a multi-energy approach with fuel, electric, methanol, CNG, and hybrid vehicles, alongside advancements in intelligent driving technology [3][6] Market Positioning - The company plans to expand its dealer network to 100 by year-end, with over 80 dealers currently established, and aims to enhance after-sales service with 150 service stations [4][5] - The brand intends to avoid price wars and instead focus on market-driven product development, emphasizing functionality and customer needs [6][7] International Expansion - The company has set a target to export 200,000 vehicles over the next five years, with two overseas factories already operational in Vietnam and Egypt, and discussions for three more [8][9] - The international strategy emphasizes product localization, service system planning, and building strong relationships with local partners to ensure market penetration [9]

Core Insights - The event on October 28 marked the launch of the Jinbei brand's new product lineup, including the Jinbei Haishi King 2026 and Jinbei Haishi King EV, indicating a comprehensive brand strategy renewal [1][2] - Jinbei is focusing on intelligent manufacturing, diversified product offerings, and international supply chain enhancements to boost its core competitiveness [1] Group 1: Product Strategy - Jinbei is implementing a multi-energy strategy that includes fuel, pure electric, methanol, CNG, and hybrid vehicles, enhancing its commercial vehicle and specialized equipment product matrix [1] - The launch event featured five new models, including three fuel models and two electric models, aimed at high-frequency scenarios such as logistics, business commuting, and group passenger transport [2] Group 2: Technological Advancements - The company is advancing its smart driving technology, achieving L2 level assistance in mass-produced models and conducting L3+ level technology validation under specific conditions, with plans for L4 level autonomous driving [1] - Jinbei aims to provide efficient and safe vehicle solutions for smart logistics through its technological innovations [1] Group 3: Market Strategy - The sales model innovation focuses on "domestic user experience reconstruction + overseas localization operations," creating a more efficient and user-centric service ecosystem [2] - Jinbei is transitioning from "product output" to "brand output" in overseas markets, with a vision to make Jinbei vehicles globally recognized [2] Group 4: Industry Recognition - Jinbei's brand renewal has garnered significant attention in the industry, with experts acknowledging its role in advancing China's light commercial vehicle sector [2] - The company is positioned to leverage technological innovation to enhance its international competitiveness in the commercial vehicle market [2]

Core Viewpoint - The Jinbei brand is launching five new models, aiming to enhance its competitiveness in the commercial vehicle market through innovation in product development, smart manufacturing, and market expansion [1][3]. Group 1: Product Launch - The Jinbei brand unveiled five new models during the event, with prices ranging from 76,900 yuan to 185,800 yuan [1]. - The new models include three fuel vehicles: Jinbei Haishi Wang 2026, Jinbei Xinkaiyun 2026, and Jinbei Dahai Shi 2026, as well as two pure electric models: Jinbei Haishi EV and Jinbei Haishi Wang EV [4]. Group 2: Strategic Direction - Jinbei will focus on three core areas for development: manufacturing upgrades, product renewal, and innovative sales models [3]. - The product positioning targets various scenarios, including logistics distribution, business commuting, and group passenger transport [4]. Group 3: Corporate Support - The Shenyang Automotive Group will leverage its resource advantages to support Jinbei in innovation breakthroughs across product development, smart manufacturing, and market expansion [1].

Core Viewpoint - The event marked a comprehensive renewal of the Jinbei brand strategy, launching multiple updated models that include both fuel and pure electric vehicles, initiating a new phase of brand development [3][4]. Group 1: Brand Development and Government Support - The Jinbei brand's renewal is seen as a significant milestone for the high-quality development of the automotive industry in Shenyang, with the local government pledging to optimize the business environment and strengthen policy support for local brands [4]. - Jinbei's General Manager, Dai Jun, outlined three core directions for brand development: manufacturing upgrades, product renewal, and a multi-energy strategy that includes fuel, pure electric, methanol, CNG, and hybrid vehicles [4][5]. Group 2: Product Launch and Market Strategy - Jinbei launched five new models, including three fuel vehicles and two pure electric vehicles, with prices ranging from 76,900 to 185,800 yuan, targeting high-frequency scenarios such as logistics and business commuting [5][6]. - The company is innovating its sales model by enhancing domestic user experiences and localizing operations overseas, aiming to transition from product output to brand output [5]. Group 3: Strategic Partnerships and Technological Advancements - A strategic cooperation agreement was signed with Toyota Tsusho, involving a 200 million yuan order and collaboration on vehicle sales and channel operations, with successful implementation in the Saudi market [6]. - Jinbei is accelerating the commercialization of intelligent driving technology, achieving L2-level assistance in mass-produced models and validating L3+ technology under specific conditions [5][6].

Core Insights - Shenyang Jinbei held a brand day and product launch event, unveiling its global renewal strategy aimed at enhancing its competitiveness in the commercial vehicle sector [1] - The company plans to focus on three core areas for brand development: manufacturing upgrades, product renewal, and sales model innovation [1] Group 1: Manufacturing Upgrades - Jinbei will utilize a new commercial 4.0 smart factory to advance its intelligent manufacturing system [1] - The company is committed to a multi-energy strategy that includes fuel, pure electric, methanol, CNG, and hybrid options [1] Group 2: Product Renewal - Jinbei has launched five new models, including three fuel vehicles and two electric vehicles, with prices ranging from 76,900 to 185,800 yuan [1] - The company has achieved L2 level assisted driving capabilities in mass-produced vehicles and is working on L3+ technology validation and L4 level planning [1] Group 3: Sales Model Innovation - The sales strategy involves a dual approach of reshaping domestic user experiences and localizing operations in overseas markets [1] - Jinbei signed a strategic cooperation agreement with Toyota Tsusho, involving a 200 million yuan order to enhance collaboration in vehicle sales and channel operations [2]

Core Viewpoint - The event marked a comprehensive brand renewal for Jinbei, showcasing a range of new fuel and electric models, aiming to establish a more competitive product matrix for future growth [1][8]. Group 1: Brand Strategy and Support - Jinbei's brand renewal is supported by the resources of Shenyang Automotive Group, which aims to innovate in product development, smart manufacturing, and market expansion [2]. - The Shenyang government emphasizes the importance of Jinbei's upgrade as a milestone for the city's automotive industry, pledging to enhance the business environment and provide policy support [6]. Group 2: Product Launch and Features - Jinbei launched five new models, including three fuel vehicles and two electric vehicles, with prices ranging from 76,900 to 185,800 yuan, targeting logistics, business commuting, and group transportation [8]. - The new models maintain the brand's DNA of "reliable, pragmatic, and efficient," offering specialized solutions that balance total cost of ownership (TCO) and reliability [8]. Group 3: Strategic Partnerships and Innovations - A strategic cooperation agreement was signed with Toyota Tsusho, involving a 200 million yuan order, focusing on deep collaboration in vehicle sales and channel operations, with successful implementation in the Saudi market [14]. - Jinbei showcased advanced models, including an L3+ level autonomous vehicle based on the Jinbei Haise King EV, highlighting the brand's product versatility [13]. Group 4: Customer Trust and Brand Legacy - Jinbei has built a strong reputation over 30 years, with 2 million users, reflecting the brand's commitment to quality and customer satisfaction [10][16]. - The company aims to continue its legacy by focusing on technological innovation and user needs, enhancing product upgrades and brand development [16].

Core Viewpoint - The Jinbei brand, after over 30 years of technological refinement and gaining 2 million users, is set to undergo a comprehensive transformation in manufacturing, products, and sales models, revitalizing the brand's vitality [1] Group 1: Brand and Market Position - The "New Journey of Jinbei" brand day and product launch event took place on October 28, highlighting the support from Shenyang Automotive Group for Jinbei's innovation in product development, smart manufacturing, and market expansion [3] - Jinbei has established itself as a benchmark brand in China's commercial vehicle sector, consistently focusing on quality and contributing to the development of the light commercial vehicle industry [7] Group 2: Sales and Production Performance - From January to September, the commercial vehicle production and sales reached 3.091 million and 3.117 million units, respectively, marking year-on-year increases of 9.4% and 7.8% [5] - Jinbei's light commercial vehicle market saw impressive performance with sales of 324,000 units during the same period, reflecting a year-on-year growth of 14.2% [5] Group 3: Strategic Directions - Jinbei's global brand renewal strategy focuses on three core areas: upgrading manufacturing through smart manufacturing systems, renewing products with a multi-energy strategy including fuel, electric, and hybrid options, and innovating sales models to enhance user experience domestically and expand brand presence internationally [10] - The company aims to commercialize intelligent driving technologies, achieving L2-level assistance in mass production vehicles and validating L3+ technology under specific conditions [10] Group 4: Product Launch and Offerings - The brand day event showcased five new models, including three fuel vehicles and two electric strategic models, with prices ranging from 76,900 to 185,800 yuan, targeting high-frequency scenarios such as logistics and business commuting [11] - Jinbei also displayed L3+ level autonomous driving vehicles and specialized models, demonstrating the product's versatility [11] Group 5: Strategic Partnerships - Jinbei signed a strategic cooperation agreement with Toyota Tsusho, marking a significant milestone with a 200 million yuan order and plans for deep collaboration in vehicle sales and channel operations, particularly in the Saudi market [13]

Core Viewpoint - Shenyang Jinbei has launched a global renewal strategy and signed a strategic cooperation agreement with Toyota Tsusho, marking a significant step towards global market collaboration and expansion [1][2] Group 1: Strategic Cooperation - Jinbei and Toyota Tsusho signed a strategic cooperation agreement worth 200 million yuan, focusing on deep collaboration in vehicle sales and channel operations [1] - The partnership has successfully established channel operations in the Saudi market, with plans to expand to more global markets [1] Group 2: Product and Manufacturing Strategy - Jinbei aims to enhance production efficiency and product consistency through the establishment of a new smart commercial 4.0 factory [1] - The company is pursuing a multi-energy strategy that includes fuel, pure electric, methanol, CNG, and hybrid vehicles, while expanding its product matrix in commercial vehicles and special equipment [1] - Jinbei plans to accelerate the commercialization of intelligent driving technology [1] Group 3: Global Market Expansion - The company intends to transition from "product output" to "brand output" through KD assembly and localized operations, aiming to realize its vision of making Jinbei vehicles globally recognized [1] - On the launch day, Jinbei introduced five new models covering diverse scenarios, including three fuel models and two pure electric strategic models [2]