证券代码：601689 证券简称：拓普集团 公告编号：2025-052 宁波拓普集团股份有限公司 关于新增 2025 年度对外担保预计额度的公告 重要内容提示： 一、担保情况概述 （一）本次担保基本情况的简要介绍 宁波拓普集团股份有限公司（以下简称"公司"或"拓普集团"）为了提高 被担保人名称： 宁波拓普汽车部件有限公司，系公司全资子公司 担保金额及2024年担保余额：截至2024年12月31日，公司及子公司担保余额 为人民币46,657.35万元。截至本公告披露日（2025年5月27日），公司及子 公司担保余额为人民币56,657.35万元，以上金额均含外币折算。 本次拟在2024年年度股东大会授权公司及子公司对子公司（含孙公司）2025 年度新增10,000万元担保预计额度的基础上，再次新增担保预计额度不超过 人民币40,000万元，公司及子公司担保总额预计不超过人民币96,657.35万 元。 本次担保是否有反担保：已发生的公司对拓普波兰有限公司、拓普集团墨西 哥有限公司、宁波拓普汽车部件有限公司的担保均无反担保；预计2025年度 后续新增担保将根据未来担保协议签署情况确认。 截至目前，公司不存在对外担 ...

证券代码：601689 证券简称：拓普集团 公告编号：2025-050 宁波拓普集团股份有限公司 第五届董事会第二十三次会议决议公告 本议案具体内容详见公司同日披露于上海证券交易所网站的公告《拓普集团 关于为全资子公司提供履约担保的公告》。 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个别及连带责任。 一、 董事会会议召开情况 宁波拓普集团股份有限公司（以下简称"公司"）第五届董事会第二十三次 会议于 2025 年 5 月 26 日 9 时在公司总部 C-105 会议室以现场会议方式召开，公 司董秘办已于 2025 年 5 月 16 日以通讯方式发出会议通知。本次会议由董事长邬 建树先生召集并主持，会议应出席董事九名，实际出席董事九名，公司监事、高 级管理人员列席了会议。会议的召集、召开以及表决程序符合《中华人民共和国 公司法》及《公司章程》等规定，合法有效。 二、董事会会议审议情况 （一）审议通过了《关于为全资子公司提供履约担保的议案》 董事会同意公司为全资子公司宁波拓普汽车部件有限公司提供履约担保。 （三）审议通过了《关于提请召开 ...

Core Viewpoint - The implementation of mandatory standards such as "General Technical Conditions for Seismic Support and Hangers for Building Mechanical and Electrical Equipment" has expanded the market for seismic support systems in the power battery industry, creating continuous growth opportunities. The Chinese power battery seismic support industry is transitioning from scale expansion to quality improvement, driven by technological innovation and deep market application integration [1][15]. Industry Overview - The power battery seismic support system is designed to ensure the stability and safety of battery systems under seismic conditions. It consists of anchoring components, reinforced hangers, seismic connection components, and diagonal braces [2]. - The industry has developed a complete industrial chain, with upstream focusing on high-end materials like aluminum and magnesium alloys, midstream on design and manufacturing, and downstream applications in energy storage stations and new energy vehicle factories [9][11]. Market Dynamics - The power battery installation volume is expected to reach 130.2 GWh in Q1 2025, with a year-on-year growth of 52.8%, driving the demand for seismic support systems [1][13]. - The market for power battery seismic supports is projected to exceed 15 billion yuan by 2027, reflecting the industry's growth potential [15]. Development History - The industry has evolved through four key stages: the initial phase (2009-2014), standardization phase (2015-2017), rapid growth phase (2018-2020), and the current technology upgrade phase (2021-present) [7]. Competitive Landscape - The industry features a diverse competitive landscape, with traditional seismic companies transitioning, new energy chain companies leading the high-end market, and material and manufacturing companies innovating through lightweight and corrosion-resistant technologies [17][19]. - Key players include Top Group, He Sheng Co., Wen Can Co., and Lian Ying Laser, each focusing on different aspects of the market [2][19]. Future Trends - The industry is shifting from policy-driven to technology-driven and scenario-driven development, with a focus on high-end, customized, and ecological solutions [22]. - Innovations in materials and smart monitoring systems are expected to enhance product performance and reliability, meeting the stringent demands of energy storage and battery swapping scenarios [22][23]. - The industry is moving towards a collaborative ecosystem, integrating upstream material suppliers and downstream service providers to enhance efficiency and sustainability [24].

金融界5月23日消息，上证指数低开低走，中证万得重组主题指数 (CSWD重组，930640)下跌1.17%，报 1567.53点，成交额404.53亿元。 数据统计显示，中证万得重组主题指数近一个月上涨3.77%，近三个月下跌4.89%，年至今下跌5.54%。 从中证万得重组主题指数持仓的市场板块来看，深圳证券交易所占比57.05%、上海证券交易所占比 42.66%、北京证券交易所占比0.29%。 从中证万得重组主题指数持仓样本的行业来看，信息技术占比30.18%、工业占比28.50%、可选消费占 比9.86%、金融占比7.69%、原材料占比7.41%、通信服务占比6.02%、主要消费占比3.31%、房地产占比 2.36%、医药卫生占比2.18%、公用事业占比1.98%、能源占比0.50%。 资料显示，指数样本每月调整一次，样本调整实施时间为每月第一个交易日。权重因子随样本定期调整 而调整，调整时间与指数样本定期调整实施时间相同。在下一个定期调整日前，权重因子一般固定不 变。特殊情况下将对指数进行临时调整。当样本退市时，将其从指数样本中剔除。样本公司发生收购、 合并、分拆等情形的处理，参照计算与维护细则处理。 ...

Core Viewpoint - The automotive sector experienced a significant surge, driven by the strong performance of Seres, with automotive ETFs showing notable gains in the market [1][2]. Group 1: ETF Performance - Automotive ETF (159512) achieved a half-day increase of 3.96%, leading the ETF market, with a total scale of 0.45 billion shares and a transaction amount of 13.97 million yuan [1][3]. - Automotive ETF (516110) also saw a half-day increase of 3.5%, with a scale of 3.35 billion shares and a transaction amount of 85.51 million yuan [1][6]. Group 2: Market Trends - The automotive market showed stable growth in production and sales compared to the same period last year, supported by the accelerated release of domestic demand [2]. - Exports remained stable despite drastic changes in the external environment, and the new energy vehicle sector continued to grow rapidly [2]. - National policies aimed at stabilizing employment and the economy are expected to further boost domestic demand in the automotive market, helping to mitigate negative impacts on exports [2]. Group 3: ETF Share Changes - Year-to-date, the share of Automotive ETF (516110) decreased by 78 million shares, representing a change of -18.9%, while Automotive ETF (159512) saw a reduction of 34 million shares, with a change of -43% [2]. Group 4: Major Holdings - Major stocks in the CSI Automotive Index include BYD (20.05% weight), Seres (14.01%), and SAIC Motor (11.01%) [4][5]. - Major stocks in the CSI 800 Automotive and Parts Index include BYD (20.03% weight), Seres (10.67%), and Fuyao Glass (9.32%) [7].

从中证建行科技创新领先（长三角）指数持仓样本的行业来看，信息技术占比49.54%、工业占比 19.37%、可选消费占比11.20%、医药卫生占比9.09%、原材料占比7.48%、通信服务占比2.53%、主要消 费占比0.79%。 据了解，中证建行科技创新领先（长三角）指数由中国建设银行定制，从长三角地区科技创新主题上市 公司中，选取50只科技创新能力较强、成长性较好的代表性上市公司证券作为指数样本，反映长三角地 区科技创新主题上市公司证券的整体表现。该指数以2019年12月31日为基日，以1000.0点为基点。 从指数持仓来看，中证建行科技创新领先（长三角）指数十大权重分别为：韦尔股份（10.18%）、澜 起科技（8.07%）、中微公司（7.03%）、江淮汽车（6.32%）、华友钴业（4.42%）、思源电气 （4.23%）、沪电股份（3.79%）、恒生电子（3.67%）、新和成（3.18%）、拓普集团（3.15%）。 从中证建行科技创新领先（长三角）指数持仓的市场板块来看，上海证券交易所占比72.84%、深圳证 券交易所占比27.16%。 金融界5月21日消息，上证指数上涨0.21%，中证建行科技创新领先（长 ...

Core Insights - The air suspension industry in China is experiencing rapid growth, particularly driven by the rise of electric vehicles and advancements in domestic suppliers' production technology [1][7][23] - In 2024, the sales volume of new cars equipped with standard air suspension in China is projected to reach 816,000 units, representing a year-on-year increase of 44.7%, with market penetration rising from 1.2% in 2022 to 3.6% [1][7] Industry Overview - Air suspension systems adjust vehicle height and stiffness by regulating gas pressure, utilizing components like air springs and electronic control dampers [1][5] - The air suspension market has evolved from pneumatic springs to more complex systems, including electronic control and air pumps, enhancing dynamic adjustment capabilities [1][7] Market Segmentation - **Commercial Vehicle Air Suspension**: The penetration rate for air suspension in commercial vehicles is currently between 6-8%, with a rigid demand of approximately 150,000 to 200,000 units annually for semi-trailers [9][13] - **Passenger Vehicle Air Suspension**: The penetration rate is lower due to high costs, but it is expected to grow significantly, with projections indicating a rise to 15% penetration and sales of 4.547 million units by 2027 [13] Competitive Landscape - The air suspension market in China is characterized by an oligopolistic structure, with the top three suppliers accounting for 86.7% of the market share in 2024 [16] - Domestic suppliers, including Konghui Technology, Top Group, and Baolong Technology, dominate the market, with their combined market share exceeding 85% [16][23] Development Trends - **Accelerated Domestic Substitution**: Local companies are rapidly replacing foreign suppliers in the air suspension market, achieving a market share of 65% and projected to exceed 85% by 2024 [23] - **Technological Upgrades**: The industry is moving towards intelligent and active suspension systems, integrating with autonomous driving technologies for enhanced vehicle performance [24][25] - **Market Expansion**: The air suspension market is expanding from high-end to mid-range vehicles, with significant growth expected in the coming years, particularly in the electric vehicle segment [26]

Group 1 - Ningbo's A-share listed companies play a crucial role in the local economy and are significant in the national industrial landscape, reflecting the region's economic vitality and competitiveness [1] - As of May 13, 2024, Ningbo has 122 A-share listed companies, ranking 7th among prefecture-level cities and 4th among non-provincial capital cities, with a total market capitalization of 1.36 trillion yuan [2] - In 2024, Ningbo's A-share listed companies achieved a total revenue of 816.67 billion yuan, a year-on-year increase of 3.43%, while net profit was 60.86 billion yuan, a decline of 2.41% [2][4] Group 2 - 18 Ningbo listed companies reported revenues exceeding 10 billion yuan, with Jintian Co. leading at 124.16 billion yuan, followed by Ningbo Bank and others [4] - In Q1 2024, Ningbo's listed companies generated 189.36 billion yuan in revenue and 17.64 billion yuan in net profit, with growth rates of 1.82% and 4.29%, respectively, both surpassing the overall A-share market [4] Group 3 - The industry structure of Ningbo's listed companies shows a dual pattern of "traditional dominance and emerging rise," with significant representation in automotive, machinery, and power equipment sectors [5] - Ningbo is a key production base for automotive and components, with leading companies like Junsheng Electronics and Top Group integrated into the global automotive supply chain [5] - Emerging industries such as new energy, semiconductors, and artificial intelligence are rapidly developing, with companies like Samsung Medical achieving significant breakthroughs in overseas markets [5][6] Group 4 - Several Ningbo listed companies rank among the top in their respective industries, with Bull Group leading in light manufacturing and Top Group in the automotive sector [6][7] - As of May 13, 2024, four Ningbo companies have entered the top ten in their industries by market capitalization, including Bull Group and Yageo [7] Group 5 - Ningbo's economic growth is supported by government policies and a focus on high-quality development, with a GDP of 1.81477 trillion yuan in 2024, growing by 5.4% [8] - The local government has implemented initiatives to enhance the efficiency of company listings and encourage R&D investments, fostering technological innovation [9] - The future outlook for Ningbo's A-share listed companies suggests a transition from quantity growth to quality improvement, enhancing their position in the global industrial chain [9]

Investment Rating - The automotive sector is rated as "Outperform" with expectations of beating the market in the next six months [45]. Core Insights - The automotive sector saw a 2.4% increase from May 12 to May 16, outperforming the CSI 300 index by 1.29 percentage points [10]. - The passenger vehicle segment rose by 4.43%, while commercial vehicles declined by 1.7% [10]. - Retail sales of passenger vehicles increased by 12% year-on-year in the first two weeks of May, with a month-on-month increase of 34% [6]. - The overall PE-TTM for the automotive industry is 26.74, up 0.64 from the previous week [11]. Summary by Sections Market Performance - The automotive sector's performance from May 12 to May 16 showed a 2.4% increase, with the passenger vehicle segment leading at 4.43% [10]. - The commercial vehicle segment decreased by 1.7%, while the truck and bus segments also saw declines [10]. Valuation Levels - As of May 16, the PE-TTM for the automotive industry is 26.74, with passenger vehicles at 27.75, commercial vehicles at 33.99, and parts at 24.85 [11][35]. - The passenger vehicle segment increased by 1.17, while commercial vehicles decreased by 0.63 [11]. Sales and Production Data - In the first eleven days of May, retail sales of passenger vehicles reached 574,000 units, a 12% increase year-on-year [6]. - Cumulative retail sales for the year reached 7.446 million units, up 8% [6]. Strategic Collaborations - Huawei and UBTECH signed a comprehensive cooperation agreement focusing on embodied intelligence and humanoid robotics [3]. - The collaboration aims to enhance product technology development and application scenarios [3]. Material Prices - As of May 16, the aluminum index is at 20,107.5, copper at 77,596.36, and rebar at 3,083.42, with respective weekly changes of 3.03%, 0.93%, and 1.98% [24][35].

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]