爱柯迪股份有限公司 2025 年第四次临时股东会 会议资料 中国·宁波 二〇二五年十一月十四日 | 2025 | 年第四次临时股东会参会须知 1 | | --- | --- | | 2025 | 年第四次临时股东会议程 2 | | 2025 | 年第四次临时股东会议案 3 | | | 关于变更公司注册资本、修订《公司章程》的议案 3 | 爱柯迪股份有限公司 2025 年第四次临时股东会会议资料 爱柯迪股份有限公司 四、股东要求在股东会上发言的，应征得大会主持人的同意，发言主题应与本次 股东会表决事项相关，简明扼要。发言时应先报告所持股份数额和姓名。主持人可安 排公司董事、高级管理人员等回答股东问题，与本次股东会议题无关或可能泄露公司 商业秘密或损害公司、股东共同利益的提问，大会主持人或其指定的有关人员有权拒 绝回答。 五、本次会议采用现场投票与网络投票相结合的方式进行表决。股东以其所持有 的有表决权股份数额行使表决权，每一股份享有一票表决权。股东在现场投票表决时， 应按照表决票中的要求在每项议案下设的"同意"、"弃权"、"反对"三项中任选 一项，并以打"√"表示，未填、错填、字迹无法辨认的表决票均视为"弃权" ...

Core Viewpoint - The rapid growth of the new energy vehicle (NEV) market is driving the demand for aluminum alloy components in the automotive industry, leading to significant market expansion in China's aluminum alloy automotive parts sector, projected to reach 697.84 billion yuan in 2024, a year-on-year increase of 22.46% [1][8]. Market Overview - Aluminum alloy automotive parts are defined as components made from aluminum-based alloys, which are processed through various methods to achieve lightweight, high strength, corrosion resistance, and recyclability, contributing to vehicle weight reduction and energy efficiency [2]. - The application of aluminum alloy parts spans the entire vehicle, categorized into powertrain, chassis, body, electronic systems, and decorative components [2]. Market Policies - The Chinese government has implemented various policies to support the development of the automotive parts industry, including initiatives aimed at enhancing manufacturing reliability and promoting high-quality development in the NEV sector [2]. Industry Chain - The aluminum alloy automotive parts industry consists of upstream suppliers of aluminum materials and production equipment, midstream manufacturers of aluminum parts, and downstream automotive manufacturers and aftermarket services [4]. Market Growth - China's automotive market has seen substantial growth, with production and sales reaching 21.05 million and 21.12 million vehicles respectively from January to August 2025, marking a year-on-year increase of 12.7% and 12.6% [6]. Competitive Landscape - The aluminum alloy automotive parts market in China is characterized by a large number of companies, leading to a fragmented market structure. Key players include He Sheng Co., Ltd., Xusheng Group, and Wan Feng Ao Wei, among others [9][10]. - In 2024, Lichung Group led the industry with a revenue of 27.25 billion yuan, followed by Top Group and Minshi Group with revenues of 26.6 billion yuan and 23.15 billion yuan respectively [10]. Company Analysis - Lichung Group specializes in lightweight aluminum alloy products and has a complete industrial chain, with 54.5% of its revenue coming from casting aluminum alloys [11]. - Wan Feng Ao Wei focuses on lightweight metal components, achieving 80.81% of its revenue from automotive lightweight parts, totaling 6.056 billion yuan in the first half of 2025 [11]. Development Trends - The industry is expected to adopt smart factory and digital twin technologies, enhancing production efficiency and quality control. The use of recycled aluminum is anticipated to rise, aligning with sustainability goals and reducing production costs [12].

Core Insights - Material substitution is a key method for achieving lightweight design in humanoid robots, with major manufacturers already implementing this approach [1][3] - Aluminum alloy remains the primary material for lightweight applications in the automotive sector, while magnesium alloy is emerging as a new contender due to its superior performance and favorable price ratio [2] - High-end engineering plastics, particularly PEEK, PPS, and LCP, are increasingly replacing traditional metals in humanoid robots, contributing significantly to lightweight design [3] Industry Overview - Lightweight design can be achieved through structural optimization and material substitution, addressing four major pain points: enhancing battery life, optimizing energy efficiency, alleviating heat dissipation issues, and improving operational flexibility [1] - The injection molding market for engineering plastics shows promising prospects, with PEEK, PPS, and LCP being highlighted for their exceptional properties [3] Company Recommendations - Aikodi (600933): Expanding lightweight product categories and establishing a dual-driven development model [4] - Xingyuan Zhuomei (301398): Focusing on magnesium alloy die-casting core technology to drive lightweight growth [4] - Moulding Technology (000700): Targeting the lightweight path of substituting plastics for steel with high-quality customer resources [4] - Hengbo Co., Ltd. (301225): A national specialized small giant entering the PEEK lightweight sector through joint ventures [4]

Core Viewpoint - Aikodi announced that as of October 31, 2025, it has repurchased a total of 6.0682 million shares, representing 0.59% of the company's total share capital [2] Summary by Category - **Share Repurchase** - The company has completed a share repurchase of 6.0682 million shares [2] - This repurchase accounts for 0.59% of the total share capital [2] - The announcement was made on the evening of November 3 [2]

Group 1: Overall Market Performance - The overall performance of the passenger car sector in Q3 2025 was below expectations, primarily due to a slowdown in industry growth and intensified competition across all price segments[3] - The passenger car industry saw a year-on-year growth rate of only 3% in retail sales, 23% in exports, and 13% in wholesale during Q3 2025, indicating a significant deceleration compared to previous quarters[27] - The inventory levels in the industry remain healthy, with a controlled increase in stock despite the overall market pressures[27] Group 2: Segment-Specific Insights - Heavy-duty trucks experienced a strong performance in Q3 2025, with wholesale, domestic, and export sales increasing by 58.1%, 64.5%, and 22.9% year-on-year, respectively[5] - The bus sector also performed well, with leading companies like Yutong achieving significant revenue growth, driven by robust demand from both domestic and international markets[6] - The motorcycle segment saw a 57.4% increase in large-displacement motorcycle exports, while domestic sales faced pressure, declining by 9.3% year-on-year[7] Group 3: Financial Metrics and Adjustments - The average selling price (ASP) for vehicles remained stable in Q3 2025, with some companies like BYD implementing price increases starting in July[3] - The gross profit margins for many companies showed slight recovery, attributed to stable sales and limited discounting in the market[3] - Several companies, including Great Wall Motors and Changan, reported a decline in net profit due to foreign exchange losses and inventory adjustments[4]

Core Points - The company Aikedi (600933.SH) announced that as of October 31, 2025, it has repurchased a total of 6.0682 million shares, accounting for 0.59% of the total share capital [1] - The highest purchase price for the repurchased shares was 22.10 CNY per share, while the lowest was 15.37 CNY per share [1] - The total amount spent on the share repurchase, excluding transaction fees, was 100 million CNY [1]

| 证券代码：600933 | 证券简称：爱柯迪 | 公告编号：临 2025-129 | | --- | --- | --- | | 转债代码：110090 | 转债简称：爱迪转债 | | 爱柯迪股份有限公司 关于以集中竞价交易方式回购公司股份的进展公告 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： 截至 2025 年 10 月 31 日，公司已累计回购股份 606.82 万股，占公司总股本 的比例为 0.59%，购买的最高价为 22.10 元/股、最低价为 15.37 元/股，已支付的 总金额为 10,008.80 万元（不含交易费用）。上述回购进展符合回购股份相关法律 法规的规定及公司回购股份方案。 三、其他事项 | 回购方案首次披露日 | 2025/6/19 | | --- | --- | | 回购方案实施期限 | 2025 年 6 月 18 年 6 月 17 日 日~2026 | | 预计回购金额 | 10,000万元~20,000万元 | | 回购用途 | □减少注册资本 √用于员工持股计划或股权激 ...

Core Viewpoint - Aikedi (600933.SH) announced that as of October 31, 2025, it has repurchased a total of 6.0682 million shares, accounting for 0.59% of the company's total share capital [1] Summary by Categories Share Repurchase - The company has repurchased 6.0682 million shares, which is 0.59% of its total share capital [1] - The highest purchase price was 22.10 CNY per share, while the lowest was 15.37 CNY per share [1] - The total amount spent on the repurchase is approximately 100 million CNY, excluding transaction fees [1]

Summary of Key Points Core Viewpoint - Aikodi (600933.SH) announced that as of October 31, 2025, it has repurchased a total of 6.0682 million shares, representing 0.59% of the company's total share capital [1] Financial Details - The highest purchase price for the repurchased shares was 22.10 CNY per share, while the lowest was 15.37 CNY per share [1] - The total amount spent on the share repurchase is approximately 100 million CNY, excluding transaction fees [1]

Company Overview - Aikodi Co., Ltd. is located at 588 Jinshan Road, Jiangbei District, Ningbo, Zhejiang Province, established on December 8, 2003, and listed on November 17, 2017. The company specializes in the research, production, and sales of automotive aluminum alloy precision die-casting parts [1] - The main business revenue composition is as follows: automotive sector 94.40%, other (supplementary) 3.53%, and industrial sector 2.07% [1] Stock Performance - On November 3, Aikodi's stock fell by 5%, trading at 21.47 CNY per share, with a transaction volume of 414 million CNY and a turnover rate of 1.92%. The total market capitalization is 22.117 billion CNY [1] Fund Holdings - According to data, one fund under Shangzheng Fund holds Aikodi as a top ten position. The Shangzheng New Energy Industry Mixed A Fund (015732) held 80,000 shares in the third quarter, accounting for 4.58% of the fund's net value, ranking as the tenth largest holding. The estimated floating loss today is approximately 90,400 CNY [2] - The Shangzheng New Energy Industry Mixed A Fund was established on August 10, 2022, with a latest scale of 28.8308 million CNY. Year-to-date returns are 29.74%, ranking 3081 out of 8223 in its category; the one-year return is 21.33%, ranking 4112 out of 8115; since inception, it has a loss of 23.56% [2] Fund Manager Information - The fund managers for Shangzheng New Energy Industry Mixed A are Zhang Zhimei and Shi Jingcheng. As of the report, Zhang Zhimei has a cumulative tenure of 7 years and 334 days, with the fund's total asset size at 293 million CNY. The best fund return during her tenure is 121.21%, while the worst is -25.04% [3] - Shi Jingcheng has a cumulative tenure of 215 days, with the fund's total asset size at 39.707 million CNY. The best fund return during his tenure is 19.16%, and the worst is 18.74% [3]