Core Points - Aikodi announced changes to its registered capital and total shares following resolutions from its board and shareholders meetings [2] Group 1 - The total number of shares will increase from 985.121116 million shares to 1,030.241514 million shares [2] - The registered capital will rise from 985.121116 million yuan to 1,030.241514 million yuan [2] - The company has completed the necessary registration changes and obtained a new business license from the Ningbo Market Supervision Administration [2]

| 证券代码：600933 | 证券简称：爱柯迪 | 公告编号：临 2025-135 | | --- | --- | --- | | 转债代码：110090 | 转债简称：爱迪转债 | | 爱柯迪股份有限公司 关于公司完成工商变更登记的公告 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。 1 类 型：股份有限公司（外商投资、上市） 住 所：浙江省宁波市江北区金山路 588 号 法定代表人：张建成 爱柯迪股份有限公司（以下简称"公司"）分别于 2025 年 10 月 29 日、2025 年 11 月 14 日召开第四届董事会第十五次会议、2025 年第四次临时股东会，审 议通过《关于变更公司注册资本、修订<公司章程>的议案》。根据公司 2025 年 第四次临时股东会决议，按照可转债转股、发行股份购买资产及限制性股票激励 计划授予的实际情况，同意公司股份总数由 98,512.1116 万股增至 103,024.1514 万股，注册资本由 98,512.1116 万元增至 103,024.1514 万元。具体内容详见 2025 年 ...

Core Insights - The report from China Galaxy Securities highlights that by 2026, the Robotaxi sector is expected to reach a commercialization turning point driven by policy support, technological advancements, and cost reductions [1][3] - The automotive industry in China is projected to experience stable volume and gradual price increases in 2025, with a dual drive from exports and new energy vehicles [1][2] Group 1: 2025 Overview - In 2025, the Chinese automotive industry is expected to achieve a pattern of "stable volume and gradual price increase," supported by the effective recovery of domestic demand due to vehicle replacement policies [1] - Both wholesale and retail sales are anticipated to grow year-on-year, with an increasing penetration rate of new energy vehicles [1] - The industry is facing continued price wars, leading to further pressure on profitability, with revenue growth outpacing profit growth [1] Group 2: 2026 Outlook - The exemption of the new energy vehicle purchase tax is expected to continue until the end of 2025, with a reduction to half in 2026-2027, potentially impacting sales significantly, especially for vehicles priced below 300,000 yuan [2] - Major automakers like Hongmeng Zhixing, Leap Motor, Geely, and JAC are entering a period of intensive new product launches, which may enhance their sales and market share [2] - The mainstream automakers' pure electric platforms are expected to be validated by 2025, with new models being launched at scale in 2026 [2] - The rollout of L3-level intelligent driving technology is imminent, becoming a key driver for new model launches in 2026 [2] Group 3: Emerging Business Opportunities - The Robotaxi sector is benefiting from policy support, technological progress, and cost reductions, leading to a commercial breakthrough, with major manufacturers and tech giants expanding their operations [3] - Low-speed unmanned logistics vehicles and mining trucks are moving towards scale due to policy support and economic advantages [3] - The integration of the intelligent automotive supply chain with the robotics industry is creating multiple advantages, including technological migration and resource consolidation [3] Group 4: Investment Recommendations - The report recommends focusing on leading passenger vehicle manufacturers, the intelligent industry chain, and humanoid robotics industry, highlighting companies like Geely and Great Wall Motors as key players [3] - Beneficiary stocks include JAC Motors and Leap Motor in the passenger vehicle sector, and companies like SUTENG and Desay SV in the intelligent sector [3] - In the humanoid robotics sector, companies such as Top Group and Aikodi are identified as beneficiaries [3]

11月26日，爱柯迪盘中上涨2.13%，截至11:01，报19.68元/股，成交1.16亿元，换手率0.61%，总市值 202.73亿元。 资金流向方面，主力资金净流出854.17万元，特大单买入404.32万元，占比3.50%，卖出521.53万元，占 比4.51%；大单买入2322.09万元，占比20.10%，卖出3059.05万元，占比26.47%。 分红方面，爱柯迪A股上市后累计派现17.74亿元。近三年，累计派现7.82亿元。 机构持仓方面，截止2025年9月30日，爱柯迪十大流通股东中，香港中央结算有限公司位居第七大流通 股东，持股1466.38万股，为新进股东。永赢先进制造智选混合发起A（018124）位居第八大流通股东， 持股1159.33万股，为新进股东。 责任编辑：小浪快报 爱柯迪今年以来股价涨23.00%，近5个交易日涨0.92%，近20日跌13.04%，近60日跌1.50%。 资料显示，爱柯迪股份有限公司位于浙江省宁波市江北区金山路588号，成立日期2003年12月8日，上市 日期2017年11月17日，公司主营业务涉及从事汽车铝合金精密压铸件的研发、生产及销售。主营业务收 入构成为： ...

爱柯迪所属申万行业为：汽车-汽车零部件-底盘与发动机系统。所属概念板块包括：汽车热管理、汽车 零部件、机器人概念、工业4.0、理想汽车概念等。 截至9月30日，爱柯迪股东户数2.98万，较上期减少11.36%；人均流通股32839股，较上期增加12.82%。 2025年1月-9月，爱柯迪实现营业收入53.10亿元，同比增长6.75%；归母净利润8.95亿元，同比增长 20.70%。 11月24日，爱柯迪盘中下跌2.15%，截至10:14，报18.70元/股，成交6732.22万元，换手率0.36%，总市 值192.63亿元。 资金流向方面，主力资金净流出620.55万元，特大单买入0.00元，占比0.00%，卖出219.35万元，占比 3.26%；大单买入618.99万元，占比9.19%，卖出1020.19万元，占比15.15%。 爱柯迪今年以来股价涨16.87%，近5个交易日跌4.05%，近20日跌16.44%，近60日跌5.32%。 资料显示，爱柯迪股份有限公司位于浙江省宁波市江北区金山路588号，成立日期2003年12月8日，上市 日期2017年11月17日，公司主营业务涉及从事汽车铝合金精密压铸件的研 ...

Core Viewpoint - China is a significant player in the global aluminum die-casting alloy industry, with the market size expected to reach 215.26 billion yuan in 2024, reflecting a year-on-year increase of 3.67% driven by the automotive market, electronics industry, and high-end equipment manufacturing [1][10]. Industry Overview - Aluminum die-casting alloys are produced through die-casting processes, primarily composed of silicon, manganese, magnesium, and trace elements, with production involving melting, refining, molding, and pouring [3]. - The industry benefits from the lightweight, high strength, and corrosion resistance of aluminum die-casting alloys, which are widely used in automotive, aerospace, medical, military, and electronic sectors [3]. Market Size and Growth - The aluminum die-casting alloy market in China is projected to grow, supported by the country's large automotive market and rapid advancements in the electronics sector [1][10]. - The global aluminum die-casting alloy market is expected to reach $142.78 billion by 2024, with a compound annual growth rate (CAGR) of 5.0% from 2024 to 2031 [10]. Competitive Landscape - International companies like Nemak, Ahresty, and Ryobi dominate the industry due to their technological expertise and extensive market presence [10]. - Domestic companies such as Aikodi, Wencan Group, and Guangdong Hongtu are emerging as significant players, benefiting from China's market demand and industrial support [10]. Industry Trends - The industry is moving towards precision and high performance, driven by the increasing quality and performance requirements from the automotive sector, especially for electric vehicles [12]. - There is a growing demand for customized solutions, necessitating improved customer communication and tailored product designs [13]. - The industry is also expanding into international markets, seeking to enhance competitiveness and brand influence through global partnerships and participation in international events [14].

Core Viewpoint - The report from Guohai Securities indicates that the expansion of sales scale and the recovery of the European passenger car market will drive the revenue and profit of Aikodi in Q3 2025, both on a year-on-year and quarter-on-quarter basis [1] Group 1: Company Developments - The company is actively exploring a second growth curve by establishing a wholly-owned subsidiary, Shundong Robot Technology (Ningbo) Co., Ltd., which will focus on the research, manufacturing, and sales of components and wearable terminal products in the robotics field [1] - The company is also focusing on the research and development of magnesium alloy die-casting technology, which is seen as an important direction for future technological reserves, targeting the forefront of automotive lightweighting and robotics [1] - The company completed the acquisition of 71% of Zhuoerbo's shares in October 2025, with the business products of Zhuoerbo mainly covering precision components such as micro-special motors and rotor housings, which is expected to enhance the company's performance and support the continuous development of its robotics business [1] Group 2: Market Outlook - The report maintains a "buy" rating for the company, indicating a positive outlook for its future development [1]

Group 1 - The report highlights that Xingfa Group's Q3 net profit attributable to shareholders increased by 16.17% year-on-year, driven by rising prices of glyphosate and other products, with a total revenue of 91.61 billion yuan in Q3 2025, reflecting a 5.96% year-on-year growth [3][4][9] - The report indicates that the average price of glyphosate reached 26,530 yuan per ton in Q3 2025, up 5% year-on-year, while the average price of phosphate rock remained high at 1,020 yuan per ton [4][6] - The acquisition of a 50% stake in Qiaogou Mining is expected to enhance the company's phosphate resource advantages, increasing its phosphate resource reserves from 3.95 billion tons to 5.80 billion tons [7][8] Group 2 - The report notes that Leap Motor's Q3 revenue surged by 97.3% year-on-year to 194.5 billion yuan, with a gross margin of 14.5%, marking a significant improvement [11][12] - The company is expanding its product lineup with the introduction of the D19 flagship model and the upcoming A10 model, which is expected to enhance its market position [13] - Leap Motor's export volume reached 17,000 units in Q3 2025, leading among new car manufacturers, and the company plans to accelerate its global localization strategy [14] Group 3 - Geely Automobile reported a Q3 revenue of 891.9 billion yuan, a 27% year-on-year increase, with a net profit of 38.2 billion yuan, reflecting a 59% year-on-year growth [16][17] - The company has adjusted its annual sales target to 3 million units, with significant contributions from its Galaxy series of vehicles [18] - Geely's export volume reached 112,000 units in Q3 2025, indicating strong overseas demand and competitive positioning [19] Group 4 - The report on Lianqi Technology emphasizes its leadership in memory interconnect chips, with a revenue of 6.33 billion yuan in the first three quarters of 2025, a 57.83% year-on-year increase [21][22] - The global AI server shipment is projected to grow significantly, with Lianqi expected to capture a 36.8% market share in the memory interconnect chip market by 2024 [22][23] - The company has launched new products based on CXL technology, which are anticipated to drive future growth [23] Group 5 - The report indicates that Xinyang's Q3 revenue reached 387 million yuan, with a significant increase in beauty treatment service revenue, which grew by 304.6% year-on-year [25][26] - The company plans to expand its offline medical beauty stores to 50 by the end of the year, enhancing its market presence [25] - Despite a net loss in Q3, the company expects profitability improvements in Q4 due to seasonal demand recovery [26] Group 6 - Trip.com Group reported a Q3 net operating revenue of 18.3 billion yuan, a 16% year-on-year increase, with a net profit of 19.9 billion yuan, reflecting a 194% year-on-year growth [29][30] - The company is benefiting from resilient domestic travel demand and strong growth in international business, particularly in cross-border travel [30][31] - The report anticipates continued growth in the global OTA business, with significant contributions from the Asia-Pacific region [31][32] Group 7 - Pinduoduo's Q3 revenue reached 108.3 billion yuan, a 9% year-on-year increase, with a Non-GAAP net profit of 31.4 billion yuan, up 14% year-on-year [39][40] - The report highlights a slowdown in advertising revenue growth, while transaction commission revenue continues to show steady performance [41] - The company is focusing on long-term value creation through increased investments in merchant support and platform development [42]

Core Viewpoint - The company is closely monitoring the development trends in the humanoid robot industry and plans to advance applications in this field based on market demand [1] Group 1 - The company will strengthen cooperation with existing clients to continuously expand new projects [1] - The focus is on promoting sustainable business development through these initiatives [1]

Core Viewpoint - Aikodi (600933) reported that as of September 30, 2025, the number of shareholders is 29,762 [1] Summary by Category - **Company Information** - Aikodi has a total of 29,762 shareholders as of the specified date [1]