Investment Rating - The investment rating for King Long Automobile (600686) is not explicitly stated in the provided documents, but the report indicates a focus on the company's performance and market position [2]. Core Viewpoints - In April 2025, King Long Automobile sold a total of 3,611 buses, representing a year-on-year decrease of 3.91%. However, the sales of light buses increased significantly by 24.76%, with 1,592 units sold [2]. - King Long and its subsidiary Jinlv are leading in bus export sales this year. In April 2025, China's total bus exports reached 5,736 units, a 26.71% increase from 4,527 units in April 2024. King Long's exports were 917 units, up 38.73%, while Jinlv's exports surged by 122.78% to 753 units [2]. - The demand for buses in major export markets, particularly in certain Asian and African countries, has increased significantly since 2025, driven by the Belt and Road Initiative [2]. Summary by Sections Sales Performance - In April 2025, King Long's sales included 1,592 light buses (up 24.76%), 598 medium buses (down 17.17%), and 1,421 large buses (down 19.26%) [2]. Export Performance - King Long's cumulative exports from January to April 2025 reached 3,573 units, marking a 76.79% increase year-on-year, securing the second position in the market with a 16.66% share [2]. - Jinlv's cumulative exports during the same period were 3,887 units, leading the market with a 127.04% increase and an 18.12% market share [2]. Market Trends - The report highlights a growing demand for buses in specific regions, particularly in Asia and Africa, as a result of the Belt and Road Initiative, which has positively impacted export figures [2].

厦门金龙汽车集团股份有限公司（以下简称"公司"）于 2025 年 4 月 26 日披 露关于召开 2024 年度股东大会的通知，公司拟于 2025 年 5 月 21 日 15:00 召开 2024 年度股东大会，本次会议采用现场投票和网络投票相结合的表决方式。详 见公司在上海证券交易所网站（www.sse.com.cn）及规定信息披露媒体刊登的 2025-030 号公告《金龙汽车关于召开 2024 年度股东大会的通知》。 为更好服务广大中小投资者，确保有投票意愿的中小投资者能够及时参会、 及时投票。公司拟使用上证所信息网络有限公司（以下简称"上证信息"）提供的 股东大会提醒服务，委托上证信息通过智能短信等形式，根据股权登记日的股东 名册主动提醒股东参会投票，向每一位投资者主动推送股东大会参会邀请、议案 情况等信息。投资者在收到智能短信后，可根据使用手册 （ 下 载 链 接 ： https://vote.sseinfo.com/i/yjt_help.pdf）的提示步骤直接投票，如遇拥堵等情况， 仍可通过原有的交易系统投票平台和互联网投票平台进行投票。 若广大投资者对本次服务有任何意见或建议，可通过邮件、投资者热 ...

Core Viewpoints - The automotive sector is expected to continue its upward trend, driven by three main themes: AI robotics, AI intelligence, and favorable market conditions [4][8] - The market showed strong performance in the automotive sector, with passenger vehicles and components leading the gains, influenced by better-than-expected adjustments in US-China tariffs and previous significant corrections in the automotive market [4][8] Weekly Review Summary - In the second week of May, the number of compulsory insurance policies reached 443,000 vehicles, reflecting a week-on-week increase of 6.5% and a month-on-month increase of 29.8% [2][7] - The SW automotive index rose by 2.4%, with the best-performing segments being SW passenger vehicles (+4.4%) and SW automotive components (+2.2%), while commercial vehicles and motorcycles showed declines [2][7] Key Industry Changes - Weipai New Energy launched the 2025 model of the Gaoshan vehicle, equipped with the Coffee Pilot Ultra intelligent driving assistance system [3][7] - BYD was added to the Hang Seng Technology Index [3][7] - Geely Automobile reported Q1 2025 revenue of 72.5 billion yuan, a year-on-year increase of 24.5%, and a net profit of 5.67 billion yuan, up 263.4% year-on-year [3][7] - The acquisition of 100% equity in Wuhu Changpeng was completed, and the company was renamed Wuhu Top [3][7] - Baolong Technology's second phase of the 4.8MW distributed photovoltaic project in Ningguo was completed and accepted [3][7] Sector Configuration Recommendations - The company maintains a positive outlook for 2025, focusing on three main themes: AI robotics, AI intelligence, and favorable market conditions, with the robotics theme expected to have the highest elasticity in May [5][8] - Recommended stocks for the AI robotics theme include Top Group, Junsheng Electronics, and Precision Forging Technology [5][8] - For the AI intelligence theme, preferred stocks include Xpeng Motors, Li Auto, and Xiaomi in Hong Kong, and Seres, SAIC Motor, and BYD in A-shares [5][8] - The favorable market conditions theme includes recommendations for bus manufacturers like Yutong Bus and heavy-duty trucks like China National Heavy Duty Truck and Weichai Power [5][8] Market Performance Tracking - The automotive sector ranked third in A-shares and first in Hong Kong this week, with strong performances in passenger vehicles and components [12][21] - The automotive sector's performance in the SW index showed significant gains, with passenger vehicles leading the way [15][21] Sales Data Overview - In April, the total number of passenger vehicles insured was 443,000, with a year-on-year increase of 29.8% [44] - New energy vehicles accounted for 222,000 units, with a penetration rate of 50.2% [44]

厦门金龙汽车集团股份有限公司（以下简称"公司"）董事会、监事会于近 日收到董事张帆先生和监事会主席叶远航先生的辞任函。因工作变动原因，张帆 先生提出辞去公司董事、董事会战略委员会委员职务；叶远航先生提出辞去公司 监事会主席、监事职务，辞任后张帆先生和叶远航先生不再担任公司其他任何职 务。 张帆先生的辞任不会导致公司董事会成员低于法定最低人数，不会影响公司 董事会正常运作。根据《公司法》及《公司章程》等相关法律法规的规定，叶远 航先生在公司股东大会补选监事之前，继续履行监事职责。公司将按照法定程序， 尽快完成补选公司董事、董事会战略委员会委员及监事、监事会主席的工作。 张帆先生和叶远航先生在担任公司董事、监事会主席及其他职务期间恪尽职 守、勤勉尽责，推动公司高质量发展。公司董事会、监事会向张帆先生和叶远航 先生致以衷心的感谢！ 特此公告。 证券代码：600686 证券简称：金龙汽车 编号：2025-034 厦门金龙汽车集团股份有限公司 关于董事、监事辞任的公告 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。 厦门金龙汽车集团股份 ...

Core Viewpoint - The launch of the "Yuanhai Kou" vessel marks a significant advancement in China's automotive shipping capabilities, particularly for electric vehicles, enhancing the efficiency of transportation to countries involved in the Belt and Road Initiative [1][2]. Group 1: Vessel Specifications and Features - The "Yuanhai Kou" vessel is the largest dual-fuel automotive transport ship in China, with a total length of 199.9 meters and a gross tonnage of 68,252 tons [2]. - It has a carrying capacity of 7,000 standard car spaces, accommodating various vehicle types including passenger cars, engineering vehicles, and buses [2]. - The vessel is equipped with an advanced LNG dual-fuel main engine, achieving a carbon reduction rate of over 24% upon operation [2]. - It features a distributed solar photovoltaic system with a peak power of 302.8 kilowatts, which is the largest installed on similar vessels [2]. - The design includes a container for growing fresh vegetables, creating a self-sufficient "green garden" on board [2]. Group 2: Operational Impact and Market Reach - The "Yuanhai Kou" vessel's inaugural route significantly reduces transportation time by nearly one-third compared to standard routes, benefiting automotive companies [1]. - The vessel operates on the "China-Mediterranean" liner route, utilizing Piraeus Port as a hub, which allows coverage of multiple European countries, major North African nations, and Black Sea region ports [1]. - It carries approximately 4,000 vehicles from Chinese brands, with over 90% being new energy vehicles, destined for countries such as Greece, Turkey, Italy, and Tunisia [1].

厦门金龙汽车集团股份有限公司 会议资料 二〇二五年五月二十一日 金龙汽车 2024 年度股东大会会议资料 目 录 金龙汽车 2024 年度股东大会会议资料 议案一 各位股东及股东代表： 第一部分 2024 年度董事会工作回顾 一、公司经营情况 公司全年共实现营业收入229.66亿元，全年实现归属于母公司股东净利润 报告期内，公司销售各型客车5.01万辆，同比增长19.1%，实现新能源汽车销 售2.11万辆，同比增长42.61%，销量位居行业前列。 海外市场方面，全年实现出口2.26万辆，同比增长19.8%，出口交货值累计99.45 亿元，同比增长12.7%。出口量和出口收入均位居行业前列。 金龙汽车 2024 年度股东大会会议资料 二、公司治理及董事会日常工作情况 报告期内，公司以"抓创新、强弱项、控风险"为年度经营方针，坚持创新驱 动，强化利润导向，不断提升价值创造能力，扎实推进各项工作。 （一）以科技创新为引领 加速拳头产品打造。遵循"平台化、系列化、通用化、模块化"原则，打造以 高毛利为目标的新一代拳头产品，推出新V系客车。加大研发投入，重点聚焦新能 源关键零部件、智能网联系统、燃料电池系统等核心领域， ...

厦门金龙汽车集团股份有限公司 2024 年度股东大会 会议资料 二〇二五年五月二十一日 金龙汽车 2024 年度股东大会会议资料 目 录 | 1.议案一：2024 年度董事会工作报告 | 2 | | --- | --- | | 2.议案二：2024 年度监事会工作报告 | 10 | | 3.议案三：关于公司 2024 年度财务决算报告的议案 | 12 | | 4.议案四：关于公司 2024 年度利润分配预案及 2025 年中期分红授权的议案 | .. 16 | | 5.议案五：关于 2024 年度计提资产减值准备的议案 | 18 | | 6.议案六：金龙汽车 2024 年年度报告 | 21 | | 7.议案七：关于公司 2025 年度为客户提供融资担保的议案 | 22 | | 8.议案八：关于公司预计 2025 年度日常关联交易事项的议案 | 24 | | 9.议案九：关于公司开展 2025 年度理财业务的议案 | 32 | | 10.议案十：关于公司 2025 年度远期外汇交易的议案 | 34 | | 11.议案十一：关于子公司金龙联合为其子公司提供担保的议案 | 36 | | 12.议案十二：关于增补公司 ...

华神科技：子公司拟2亿元出售参股公司股权 华神科技(000790)公告，子公司星瑞药业拟将持有的上海凌凯科技股份有限公司（简称"上海凌凯"） 5.4019%股份以2亿元转让给陆茜，本次交易完成后，星瑞药业不再持有上海凌凯股份。 招商银行：拟出资150亿元全资发起设立金融资产投资公司 招商银行(600036)公告，公司拟出资150亿元，全资发起设立金融资产投资公司。本次设立的金融资 产投资公司初始注册资本为人民币150亿元，由公司作为投资主体根据《金融资产投资公司管理办法 （试行）》，使用自有资金直接投资设立。成功设立后，本次设立的金融资产投资公司将成为公司全 资一级子公司，具体业务范围以金融监督管理机构批复为准。本次设立金融资产投资公司符合公司业 务发展需要，有助于丰富公司综合化经营牌照，完善投商行一体化经营，提升服务实体经济能力。本 次投资不会对公司的财务状况或经营成果产生重大影响。 2025.05. 08 5月8日晚间，沪深两市多家上市公司发布公告，以下是第一财经对一些重要公告的汇总，供投资者 参考。 【品大事】 金诚信：拟投资约2.31亿美元建设Alacran铜金银矿项目 金诚信(603979)公告，鉴 ...

Investment Announcements - Jincheng intends to invest approximately $231 million in the Alacran copper-gold-silver mine project, following the acquisition of a 5% stake in CMH Colombia S.A.S., which will allow it to hold a 55% stake and control the project development [3] - Huasheng Technology's subsidiary plans to sell a 5.4019% stake in Shanghai Lingkai Technology Co., Ltd. for 200 million yuan, resulting in the subsidiary no longer holding shares in the company [4] - China Merchants Bank plans to invest 15 billion yuan to establish a wholly-owned financial asset investment company, which will enhance its integrated operations and service capabilities [5] Performance Reports - Huahong's Q1 revenue reached 3.913 billion yuan, a year-on-year increase of 18.66%, while net profit dropped by 89.73% to 22.76 million yuan, indicating challenges in the semiconductor industry due to international and policy changes [7] - King Long Automobile reported a production of 4,361 buses in April, a decrease of 5.79% year-on-year, with sales of 3,611 buses, down 3.91% [8] - Zhengbang Technology's April pig sales reached 609,800 heads, with revenue of 738 million yuan, showing a significant year-on-year increase of 174.29% [9] - Sunac China achieved a contract sales amount of approximately 1.1 billion yuan in April, with a cumulative total of 11.2 billion yuan by the end of April [11] - *ST Aonong reported a pig sales volume of 132,800 heads in April, a year-on-year decrease of 14.42% [12] Major Contracts - Pinggao Electric won contracts totaling approximately 1.751 billion yuan from the State Grid, representing 14.12% of its 2024 revenue [14] - State Grid Information Technology's subsidiaries secured contracts worth 477 million yuan, positively impacting future performance [15] - Dongfang Tower won a procurement project from the State Grid worth about 100 million yuan, accounting for 2.39% of its 2024 revenue [16] - Jiaojian Co. won a construction project worth approximately 704 million yuan, with a project duration of 870 days, representing 8.43% of its 2024 revenue [17] Shareholding Changes - Ruihua Tai's shareholder plans to reduce holdings by up to 1% of the company's shares [19] - *ST Gengxing's controlling shareholder intends to increase holdings between 30 million and 60 million yuan [20] - Lexin Technology's shareholder plans to reduce holdings by up to 1.2032% of the company's shares [22] Share Buybacks - Sichuan Meifeng plans to repurchase shares worth between 50 million and 70 million yuan, with a maximum repurchase price of 10.07 yuan per share [24]

Group 1 - Dashi Intelligent signed a smart hospital project contract worth 58.12 million yuan with the First Affiliated Hospital of Bengbu Medical College and Bengbu Urban Construction Investment Development Co., Ltd. [1] - The project aims to create a comprehensive tumor specialty hospital integrating medical care, research, teaching, preventive health care, and rehabilitation, which is expected to positively impact the company's future performance [1] Group 2 - Huahong Company reported a net profit of 22.76 million yuan for Q1 2025, a year-on-year decrease of 89.73%, despite a revenue increase of 18.66% to 3.913 billion yuan [2] - The company specializes in the development and application of embedded/non-volatile memory, power devices, and other semiconductor technologies [2] Group 3 - Jindi Group announced a signed area of 214,000 square meters in April, a year-on-year decrease of 55.14%, with a signed amount of 2.78 billion yuan, down 55.45% [3] - The company focuses on real estate development and sales, commercial real estate, and property management [3] Group 4 - Jinlong Automobile reported a bus production of 4,361 units in April, a year-on-year decrease of 5.79%, with sales of 3,611 units, down 3.91% [4][5] - The company is engaged in the production and sales of bus products [5] Group 5 - Sanyou Medical established a joint venture with CGBio Co., Ltd. with a registered capital of 60 million yuan, focusing on innovative cell biological materials and regenerative medicine [6][7] - The company specializes in the research, production, and sales of orthopedic implant consumables [7] Group 6 - Jinzhi Technology won a bid for projects related to the State Grid with a total amount of 90.73 million yuan, accounting for 5.12% of the company's projected revenue for 2024 [9][10] - The company focuses on smart energy and smart city businesses [10] Group 7 - Pinggao Electric won multiple procurement projects from the State Grid, totaling approximately 1.751 billion yuan, which is 14.12% of the company's projected revenue for 2024 [10] - The company specializes in high-voltage switchgear and power engineering contracting [10] Group 8 - Luantang Pharmaceutical received approval for the raw material drug Celecoxib, which is a selective COX-2 inhibitor with fewer gastrointestinal side effects compared to traditional NSAIDs [11][12] - The company is involved in the research, production, and sales of pharmaceutical products [12] Group 9 - Dongjie Intelligent obtained seven patent certificates related to AGV and conveyor system technologies [13][14] - The company specializes in the research, design, manufacturing, installation, and debugging of intelligent logistics systems [14] Group 10 - XJH Holdings received a government subsidy of 8.69 million yuan, which accounts for 38.67% of the company's projected net profit for 2024 [15][16] - The company focuses on the recycling and dismantling of waste electrical products [16] Group 11 - Huaihua Pharmaceutical's subsidiary received approval for the clinical trial of HZ-J001 ointment for treating non-segmental vitiligo [17][19] - The company is engaged in the research, production, and sales of pharmaceutical products [19] Group 12 - ST Aonong reported a pig sales volume of 132,800 heads in April, a year-on-year decrease of 14.42%, while the stock of pigs increased by 15.06% [22][23] - The company is involved in feed, pig farming, food, and trade [23] Group 13 - Beibu Gulf Port reported a cargo throughput of 31.75 million tons in April, a year-on-year increase of 20.32% [24][25] - The company specializes in port loading, storage, and related services [25] Group 14 - Dongfang Iron Tower won a bid for State Grid projects totaling approximately 100 million yuan, which is 2.39% of the company's projected revenue for 2024 [26] - The company focuses on steel structures and related businesses [26] Group 15 - Huanxu Electronics reported a consolidated revenue of 4.641 billion yuan in April, a year-on-year increase of 0.72% [27] - The company provides design, manufacturing, and related services for brand customers [27] Group 16 - Jincheng Co. announced that part of its bank accounts has been frozen, involving approximately 32.97 million yuan due to contract disputes [28][29] - The company specializes in high-end intelligent equipment for photovoltaic and smart port sectors [29] Group 17 - NAIKE Equipment announced the departure of core technical personnel Wang Xiangguo [30][31] - The company focuses on semiconductor packaging equipment and related products [31] Group 18 - Jiaojian Co. won a construction project in Hefei with a bid amount of approximately 704 million yuan, covering residential buildings and related infrastructure [32][33] - The company specializes in infrastructure construction and related services [33] Group 19 - Hongyuan Green Energy plans to transfer a 27.07% stake in Inner Mongolia Xinyuan Silicon Material Technology Co., Ltd. for 1.245 billion yuan [34][35] - The company focuses on the research, production, and sales of aviation electromechanical products [35] Group 20 - Poly Development reported a signed amount of 24.622 billion yuan in April, a year-on-year decrease of 25.44% [46][48] - The company specializes in real estate development and sales [48]