Core Insights - The company reported a significant decline in revenue for the first three quarters of 2025, with a total revenue of 4.171 billion yuan, representing a year-on-year decrease of 20.34% [1] - The net profit attributable to shareholders was -350 million yuan, indicating a substantial narrowing of losses compared to previous periods [1] - The company sold 128,400 engines, marking an 18.7% increase year-on-year, while heavy truck sales for SAIC Hongyan plummeted by 86.97% to only 728 units due to ongoing restructuring [1] Group 1 - The company has formed a consortium with Shanghai Automotive Industry Group, Chongqing Liangjiang New Area High-Quality Development Industry Private Equity Investment Fund, and Chongqing Development Asset Management to invest in the restructuring of SAIC Hongyan [1] - A restructuring investment agreement has been signed, and the restructuring process for SAIC Hongyan is progressing in an orderly manner [1] - The purpose of the investment is to mitigate debt risks for SAIC Hongyan and maximize its operational value, which will also help optimize the company's debt structure and alleviate operational pressure [1] Group 2 - According to the preliminary restructuring plan for SAIC Hongyan, the company will hold less than 20% of the equity post-restructuring, meaning SAIC Hongyan will no longer be included in the company's consolidated financial statements [2] - This exclusion is expected to have a positive impact on the company's financial metrics for the year of deconsolidation, with estimated profits from this action accounting for over 50% of the audited net profit attributable to shareholders for 2024 [2] - There are uncertainties surrounding the restructuring process, as the plan must be approved by the court, and failure to successfully restructure could lead to bankruptcy liquidation, thereby reducing future impacts on the company [2]

股票简称：动力新科 动力 B 股 股票代码：600841 900920 编号：临 2025-071 上海新动力汽车科技股份有限公司 关于整改报告的补充公告 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。 上海新动力汽车科技股份有限公司（以下简称"公司"）于 2025 年 9 月 4 日披露 了《关于上海证监局对公司采取责令改正监管措施的整改报告》（临 2025-057），详见 同日刊登于上海证券交易所网站等相关公告。现就上述公告中"2021 年披露的重组报告 书、2021 年至 2023 年披露的年度报告中收入存在错报"整改措施内容补充如下： （1）公司全资子公司上汽红岩梳理了历史期间的销售收入情况，上汽红岩根据签 订的合同以商品"交付承运人"为依据确认销售收入，针对因合同关于商品转移的表述 不够严谨的情况，上汽红岩已加强合同审查，规范和修订合同相应条款，确保为会计处 理提供清晰明确的依据。 （2）子公司上汽红岩梳理了商品退货相关的内部管理流程，要求相关业务部门员 工及管理人员进一步加强对此类业务的规范，确保为会计处理提供清晰 ...

Financial Performance - The company's operating revenue for Q3 2025 was ¥1,342,289,993.55, a decrease of 11.90% compared to the same period last year[2]. - The total profit for the period was a loss of ¥43,216,584.34, with a year-to-date loss of ¥322,883,167.62[2]. - The net profit attributable to shareholders was a loss of ¥48,960,462.83 for the quarter, and a loss of ¥349,690,500.12 year-to-date[2]. - The basic earnings per share for the quarter was -¥0.035, and -¥0.252 year-to-date[2]. - The weighted average return on net assets was -1.65%, an increase of 10.83 percentage points compared to the same period last year[2]. - Total operating revenue for the first three quarters of 2025 was ¥4,170,908,311.04, a decrease of 20.3% compared to ¥5,235,569,406.53 in the same period of 2024[18]. - The net loss for the first three quarters of 2025 was ¥349,690,500.12, an improvement from a net loss of ¥1,263,219,574.56 in the same period of 2024[19]. - The basic earnings per share for the first three quarters of 2025 was -¥0.25, an improvement from -¥0.91 in the same period of 2024[19]. - Net profit for the first three quarters of 2025 was ¥112,980,815.41, a decrease of 5.3% from ¥119,371,302.59 in 2024[28]. Cash Flow and Liquidity - The net cash flow from operating activities for the year-to-date was -¥403,940,710.68[2]. - Cash flow from operating activities showed a net outflow of ¥403,940,710.68, compared to a net outflow of ¥1,288,818,937.88 in the previous year, indicating a significant reduction in cash burn[20]. - Cash and cash equivalents at the end of the period were ¥4,055,338,854.25, down from ¥4,318,337,813.36 at the end of the same period in 2024[22]. - Cash flow from operating activities for the first three quarters of 2025 was ¥3,407,439,825.55, down from ¥3,581,406,239.53 in 2024, a decrease of 4.9%[29]. - The net cash flow from operating activities was -$295.86 million, compared to -$226.09 million in the previous period, indicating a decline of approximately 31%[30]. - The ending balance of cash and cash equivalents was $3.91 billion, compared to $3.78 billion, showing an increase of about 3.5%[30]. Assets and Liabilities - Total assets at the end of the reporting period were ¥13,302,783,261.73, an increase of 0.57% from the previous year-end[3]. - The equity attributable to shareholders decreased by 10.10% to ¥3,162,541,555.57 compared to the previous year-end[3]. - The company's current liabilities totaled CNY 9,828,101,219.45, an increase from CNY 9,240,405,322.37 in the previous year[16]. - The company's total liabilities reached CNY 10,140,241,706.16, compared to CNY 9,710,374,709.16 in the previous year[16]. - Total assets as of September 30, 2025, amounted to ¥11,142,735,514.78, up from ¥10,289,270,106.97 at the end of 2024, indicating a growth of 8.3%[25]. - Total liabilities increased to ¥4,549,906,796.55 as of September 30, 2025, compared to ¥3,803,488,789.51 at the end of 2024, representing a rise of 19.6%[25]. - The total equity as of September 30, 2025, was ¥6,592,828,718.23, an increase from ¥6,485,781,317.46 at the end of 2024, reflecting a growth of 1.6%[25]. Investment and Restructuring - The company invested CNY 666,363,636.36 to participate in the restructuring of SAIC Hongyan, aiming to acquire a target equity stake of 14.66% post-restructuring[11]. - The total investment from the consortium in the restructuring of SAIC Hongyan is CNY 3 billion, with an expected target equity stake of 66% post-restructuring[11]. - The restructuring plan, once approved by the court, is projected to result in a profit impact exceeding 50% of the company's audited net profit attributable to shareholders for the fiscal year 2024[12]. - The restructuring process is ongoing, with potential risks related to market and management that could affect the company's financial performance[13]. - The company aims to optimize its debt structure and alleviate operational pressure through the restructuring of SAIC Hongyan[12]. Operating Costs and Expenses - Total operating costs decreased to ¥4,554,173,680.35 from ¥5,994,009,384.95, representing a reduction of 24.1%[18]. - Research and development expenses for the first three quarters of 2025 were ¥194,651,663.38, slightly down from ¥212,072,418.17 in 2024[18]. - Research and development expenses for the first three quarters of 2025 were ¥161,352,243.10, an increase of 20.2% from ¥134,288,529.39 in 2024[27]. - The company reported a decrease in sales expenses to ¥55,261,134.09 in 2025 from ¥123,508,481.60 in 2024, a reduction of 55.2%[27]. - Payments to employees and for employee benefits amounted to $341.59 million, up from $332.01 million, reflecting an increase of approximately 3%[30]. - Payments for various taxes totaled $38.45 million, significantly higher than $13.02 million, representing an increase of about 195%[30].

Core Insights - The company reported a third-quarter revenue of 1.342 billion yuan, representing a year-on-year decline of 11.90% [1] - The net profit for the third quarter was a loss of 48.96 million yuan [1] - For the first three quarters, the company achieved a revenue of 4.171 billion yuan, down 20.34% year-on-year [1] - The net profit for the first three quarters was a loss of 350 million yuan [1]

Group 1 - The core viewpoint of the news is that Dongli Xinke's stock has shown fluctuations in price and trading volume, with a recent increase of 2.08% to 6.39 CNY per share, and a total market capitalization of 8.868 billion CNY [1] - As of October 27, the stock has increased by 26.04% year-to-date, but has experienced a decline of 10.00% over the past 20 days and 5.33% over the past 60 days [2] - The company has been listed on the stock market since March 11, 1994, and primarily engages in the production and sale of heavy trucks and diesel engines, with engine sales accounting for 85.20% of its revenue [2] Group 2 - As of June 30, 2025, Dongli Xinke reported a revenue of 2.829 billion CNY for the first half of the year, representing a year-on-year decrease of 23.80%, while the net profit attributable to shareholders was -301 million CNY, an increase of 56.35% year-on-year [2] - The company has not distributed any dividends in the last three years, with a total payout of 1.268 billion CNY since its A-share listing [3] - The number of shareholders decreased by 13.11% to 59,500 as of June 30, 2025, with the average circulating shares per person remaining at 0 [2][3]

Core Viewpoint - The AI Fund Yongying State-Owned Enterprise Opportunity Selection Mixed Fund A (023824) reported a profit of 886,700 yuan for Q3 2025, with a weighted average profit per fund share of 0.0105 yuan, indicating a net value growth rate of 1.05% during the reporting period [3]. Fund Performance - As of the end of Q3 2025, the fund's scale was 84.97 million yuan, with a unit net value of 0.975 yuan as of October 21 [3]. - The fund manager, Wang Wenlong, currently manages three funds [3]. Investment Strategy - The fund's investment strategy focuses on "valuation reconstruction + growth breakthrough," with three main areas of emphasis: 1. High-quality state-owned enterprises undergoing asset integration and upgrades, particularly those with opportunities for value reassessment through asset injection [3]. 2. Technology innovation-driven state-owned enterprises, focusing on leading stocks with attributes of industrial chain leaders in new productivity directions [3]. 3. Stable holding positions in core assets [3]. Top Holdings - As of the end of Q3 2025, the fund's top ten holdings included: 1. Dongli New Science 2. Yandong Micro 3. Northern Huachuang 4. Kaipu Cloud 5. Huahong Semiconductor 6. AVIC Shenyang Aircraft 7. Shanda Diwei 8. Guodun Quantum 9. Zhongke Shuguang 10. GF Securities [3].

股票简称：动力新科 动力 B 股 股票代码：600841 900920 编号：临 2025-070 重庆市第五中级人民法院（以下简称"重庆五中院"）于 2025 年 7 月 18 日裁定受 理公司全资子公司上汽红岩汽车有限公司（以下简称"上汽红岩"）破产重整案，指定泰 和泰（重庆）律师事务所与信永中和会计师事务所（特殊普通合伙）重庆分所联合担任上 汽红岩管理人。 上海新动力汽车科技股份有限公司 关于全资子公司公开招募重整投资人进展情况的公告 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。 重要内容提示： 为依法统筹推进上汽红岩重整工作，实现企业运营价值最大化，上汽红岩管理人 依照《中华人民共和国企业破产法》及相关法律规定，面向全国公开招募重整投资人。根 据上汽红岩管理人与债务人召开的遴选重整投资人评审会议，确定由上海汽车工业（集团） 有限公司、上海新动力汽车科技股份有限公司、重庆两江新区高质量发展产业私募股权投 资基金合伙企业（有限合伙）、重庆发展资产经营有限公司组成的联合体成为本项目重整 投资人。 上汽红岩管理人与债务人于 ...

证券代码：600841 900920 证券简称：动力新科 动力 B 股 公告编号：临 2025-069 上海新动力汽车科技股份有限公司 2025年第一次临时股东会决议公告 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。 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)股东会召开的时间：2025 年 10 月 16 日 (二)股东会召开的地点：上海新动力汽车科技股份有限公司办公大楼会议室 (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 | 496 | | --- | --- | | 其中：A 股股东人数 | 481 | | 境内上市外资股股东人数（B 股） | 15 | | 2、出席会议的股东所持有表决权的股份总数（股） | 581,100,274 | | 其中：A 股股东持有股份总数 | 578,527,775 | | 境内上市外资股股东持有股份总数(B 股) | 2,572,499 | | 3、出席会议的股东所持有表决权股份数占公司有表决权 ...

上海市金茂律师事务所 关于上海新动力汽车科技股份有限公司 2025年第一次临时股东会的 法律意见书 致:上海新动力汽车科技股份有限公司 1 (正文) 本次股东会的召集 二、本次股东会的召开 2.1、 本次股东会以现场投票和网络投票相结合的方式召开。 (引言) 上海新动力汽车科技股份有限公司（以下简称"公司"）2025年第一次临 时股东会（以下简称"本次股东会"）现场会议于 2025年 10月 16 日在上海新 动力汽车科技股份有限公司(上海市杨浦区军工路 2636 号) 办公大楼会议室召 开。上海市金茂律师事务所经公司聘请委派韩春燕律师、吴颖律师(以下简称"本 所律师")出席会议,就本次股东会的召集、召开程序,出席会议人员资格,会 议议案,以及会议的表决程序、表决结果等发表法律意见。 本法律意见书根据《中华人民共和国公司法》(以下简称"《公司法》")、 《中华人民共和国证券法》（以下简称"《证券法》"）、《上市公司股东会规 则》(以下简称"《股东会规则》")、《上海证券交易所上市公司自律监管指 引第 1 号 -- 规范运作（2025 年 5 月修订）》（以下简称"《自律监管指引 1 号》"）等有关法律、法规和 ...

Core Viewpoint - The stock of Power New Technology has shown fluctuations in trading activity, with a year-to-date increase of 26.04% but a recent decline in the last few trading days, indicating potential volatility in investor sentiment [1][2]. Group 1: Stock Performance - As of October 16, Power New Technology's stock price increased by 2.73% to 6.39 CNY per share, with a total market capitalization of 8.868 billion CNY [1]. - The stock has experienced a year-to-date increase of 26.04%, but has seen a decline of 0.47% over the last five trading days, 0.93% over the last twenty days, and 7.66% over the last sixty days [1]. Group 2: Financial Performance - For the first half of 2025, Power New Technology reported a revenue of 2.829 billion CNY, a year-on-year decrease of 23.80%, while the net profit attributable to shareholders was -301 million CNY, showing a year-on-year increase of 56.35% [2]. - The company has cumulatively distributed 1.268 billion CNY in dividends since its A-share listing, with no dividends distributed in the last three years [3]. Group 3: Shareholder Information - As of June 30, 2025, the number of shareholders for Power New Technology was 59,500, a decrease of 13.11% from the previous period [2]. - The top ten circulating shareholders include Hong Kong Central Clearing Limited, which holds 4.8294 million shares, a decrease of 748,000 shares compared to the previous period [3]. Group 4: Business Overview - Power New Technology, established on December 27, 1993, and listed on March 11, 1994, is primarily engaged in the production and sale of heavy trucks and diesel engines, with engine sales contributing 85.20% to its revenue [1]. - The company operates within the automotive industry, specifically in the automotive parts sector, focusing on chassis and engine systems, and is associated with various concepts including generator concepts and autonomous driving [1].