关于修订《公司章程》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。 2025年3月14日，宁波拓普集团股份有限公司（以下简称"公司"）实施完成 了"拓普转债"的赎回，该可转债已自2025年3月14日起在上海证券交易所摘牌。 在本次实施上述可转债赎回的过程中，有大量可转债持有人将其持有的"拓普转 债"在法定时限内转为公司股份。本次实施完成"拓普转债"的赎回后，公司总 股份数增加了51,810,437股。根据中国证券登记结算有限责任公司上海分公司的 数据，公司总股份数现为1,737,835,580股。 公司于2025年3月19日召开第五届董事会第十九次会议，审议通过了《关于 修订<公司章程>的议案》，拟对《公司章程》中注册资本、总股份数等条款同步 更新修订，并授权管理层办理后续的工商变更登记等相关事宜。具体修订内容如 下： | 修订对照表 | | --- | | 修订前 | 修订后 | | --- | --- | | 第五条 公司注册资本为人民币1,686,025,143 | 第五条 公司注册资本为人民币 1,737 ...

证券代码：601689 证券简称：拓普集团 公告编号：2025-028 宁波拓普集团股份有限公司 关于召开 2025 年第一次临时股东大会的通知 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： 一、 召开会议的基本情况 (一) 股东大会类型和届次 2025 年第一次临时股东大会 股东大会召开日期：2025年4月7日 本次股东大会采用的网络投票系统：上海证券交易所股东大会网络投票 系统 (二) 股东大会召集人：董事会 (三) 投票方式：本次股东大会所采用的表决方式是现场投票和网络投票相结 合的方式 (四) 现场会议召开的日期、时间和地点 网络投票系统：上海证券交易所股东大会网络投票系统 网络投票起止时间：自 2025 年 4 月 7 日 至 2025 年 4 月 7 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股 东大会召开当日的交易时间段，即 9:15-9:25,9:30-11:30，13:00-15:00；通过 互联网投票平台的投票时间为股东大会召开当日的 9:15-15:00。 (六 ...

证券代码：601689 证券简称：拓普集团 公告编号：2025-026 宁波拓普集团股份有限公司 第五届监事会第十六次会议决议公告 宁波拓普集团股份有限公司 一、 监事会会议召开情况 2025 年 3 月 20 日 宁波拓普集团股份有限公司（以下简称"公司"）第五届监事会第十六次会 议于 2025 年 3 月 19 日 10 时在公司总部 C-105 会议室以现场会议方式召开，会 议通知已于 2025 年 3 月 9 日以通讯方式发出。本次会议由监事会主席颜群力先 生召集并主持，应出席监事三名，实际出席监事三名。会议的召集、召开及表决 程序符合《中华人民共和国公司法》及《公司章程》的规定。 二、 监事会会议审议情况 （一）审议通过了《关于修订<公司章程>的议案》 表决结果：同意3票，反对0票，弃权0票 特此公告。 本公司监事会及全体监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。 ...

证券代码：601689 证券简称：拓普集团 公告编号：2025-025 宁波拓普集团股份有限公司 第五届董事会第十九次会议决议公告 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"）第五届董事会第十九次会 议于 2025 年 3 月 19 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 3 月 9 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《关于修订<公司章程>的议案》 公司近期实施完成了"拓普转债"的赎回，该可转债已在上海证券交易所摘 牌。在本次实施赎回的过程中，有大量可转债持有人将其持有的"拓普转债"在 法定时限内转为公司股份。因此，公司拟对章程中相应条款同步更新修订。具体 内容请见公司 ...

Investment Rating - The report assigns a "Buy" rating to the company, indicating a positive outlook for the stock's performance in the next six months [6][19]. Core Insights - The company is expected to achieve a net profit attributable to shareholders of between 2.855 billion and 3.155 billion yuan in 2024, representing a year-on-year growth of 32.73% to 46.68% [1]. - The automotive business is a key driver of growth, with eight major product lines contributing significantly to revenue. The NVH (Noise, Vibration, and Harshness) segment remains foundational, accounting for 49.5% of total revenue in the first half of 2024 [2]. - The company is expanding into the robotics sector, having established an electric drive division and signed an investment agreement to build a production base for core robotic components, with an investment of 5 billion yuan [3]. Financial Summary - The projected total revenue for 2024-2026 is 26.536 billion, 34.352 billion, and 41.775 billion yuan, respectively, with net profits expected to be 3.059 billion, 3.893 billion, and 4.844 billion yuan [4]. - Earnings per share (EPS) are forecasted to be 1.76, 2.24, and 2.79 yuan for 2024, 2025, and 2026, respectively, with corresponding price-to-earnings (PE) ratios of 35, 27, and 22 [3][4]. - The company’s revenue growth rates are projected at 34.7% for 2024, 29.5% for 2025, and 21.6% for 2026, while net profit growth rates are expected to be 42.2%, 27.3%, and 24.4% for the same years [16].

Investment Rating - The report assigns a "Buy" rating for the company, marking its first coverage [6][7]. Core Views - The company is positioned as a Tier 0.5 platform supplier in the automotive industry, focusing on four main business divisions: power chassis systems, decorative systems, intelligent driving, and electric drive [2][18]. - In 2023, the company achieved revenue of approximately 19.701 billion yuan, reflecting a year-on-year growth of about 23.18%, with a CAGR of approximately 26.49% from 2015 to 2023 [2][25]. Summary by Sections 1. Company Overview - The company has over 40 years of experience in the automotive industry and operates four major divisions, producing a wide range of automotive components [2][18]. - It has a diverse product line including NVH damping systems, interior and exterior decorative systems, lightweight chassis systems, and intelligent driving systems [18][20]. 2. Humanoid Robots - The company is accelerating its industrialization process in humanoid robots, with 2025 expected to be a year of mass production [3][41]. - Major players like Tesla and Figure are planning significant production increases, with Tesla aiming for 10,000 units in 2025 and Figure planning to deliver 100,000 units over the next four years [3][39]. - The global humanoid robot market is projected to grow significantly, with estimates suggesting a rise from approximately $2.16 billion in 2023 to about $32.4 billion by 2029 [3][41]. 3. Automotive Components - The company leads in NVH damping systems and is strategically positioned in the electric vehicle market [5][52]. - The average sales price (ASP) of chassis systems has increased from approximately 935 yuan in 2021 to about 1,095 yuan in Q1 2024, marking a price increase of about 17.11% [5][66]. - The automotive electronics segment has seen a dramatic price increase, with ASP rising from approximately 265 yuan in 2021 to about 3,544 yuan in Q1 2024, an increase of approximately 1,237.36% [5][73]. 4. Financial Forecast and Valuation - Revenue projections for 2024, 2025, and 2026 are approximately 26.225 billion yuan, 32.659 billion yuan, and 38.783 billion yuan, respectively, with year-on-year growth rates of about 33%, 25%, and 19% [6][15]. - The net profit attributable to the parent company is expected to be around 2.944 billion yuan, 3.584 billion yuan, and 4.196 billion yuan for the same years, with growth rates of approximately 37%, 22%, and 17% [6][15].

Investment Rating - The report gives a "Buy" rating for the company, marking its first coverage [6][7]. Core Views - Top Group is positioned as a Tier 0.5 platform supplier in the automotive industry, focusing on four main business divisions: power chassis systems, decorative systems, intelligent driving, and electric drive [2][18]. - The company achieved a revenue of approximately 19.701 billion yuan in 2023, reflecting a year-on-year growth of about 23.18%, with a CAGR of approximately 26.49% from 2015 to 2023 [2][25]. - The humanoid robot sector is accelerating towards mass production, with projections indicating that 2025 may be a pivotal year for production [3][41]. Summary by Sections Company Overview - Top Group has been dedicated to the automotive industry for over 40 years, with a diverse product range across nine categories, including NVH damping systems, interior and exterior systems, lightweight body components, intelligent cockpit parts, thermal management systems, chassis systems, air suspension systems, intelligent driving systems, and actuators [18][20]. Financial Analysis - The company has established strategic partnerships with high-quality clients, driving sustained performance growth. In Q1-Q3 of 2024, revenue reached approximately 19.352 billion yuan, a year-on-year increase of 36.75% [25][28]. - The revenue from the NVH and interior components has historically accounted for a significant portion of the automotive parts business, with respective contributions of 62.86%, 60.85%, and 58.07% from 2021 to 2023 [28]. Humanoid Robots - The industry is witnessing rapid advancements, with companies like Tesla aiming for mass production of humanoid robots by 2025, targeting an initial output of 10,000 units [3][39]. - The Chinese humanoid robot market is expected to grow to 75 billion yuan by 2029, capturing 32.7% of the global market [41][43]. Automotive Components - The company leads in NVH damping systems and is strategically positioned in the electric vehicle sector. The average sales price of chassis systems has increased from approximately 935 yuan in 2021 to about 1,095 yuan in Q1 2024, marking a price increase of approximately 17.11% [5][66]. - The automotive electronics segment is rapidly expanding, with the average sales price of automotive electronic products rising from about 265 yuan in 2021 to approximately 3,544 yuan in Q1 2024, reflecting a significant increase of approximately 1,237.36% [5][73].

Investment Rating - The report maintains a bullish outlook on the automotive sector, recommending a comprehensive positive stance on the entire vehicle segment and parts sector [5]. Core Insights - The automotive sector is experiencing a positive trend, with passenger car insurance registrations increasing by 15.9% year-on-year in the first week of March 2025 [3]. - The report highlights significant developments in the industry, including the revenue performance of Li Auto and the launch of new models by Leap Motor, indicating a competitive landscape in the smart electric vehicle market [3][5]. - The report emphasizes the importance of smart technology in vehicles, predicting that the competition among automakers will intensify, particularly in the L3 and L2+ autonomous driving segments [38]. Weekly Sector Review - The SW automotive index rose by 0.8%, with the passenger vehicle segment showing the best performance at +2.6% [3]. - The report notes that the passenger vehicle sector is ranked 25th in A-shares and 4th in Hong Kong stocks for the week [9][12]. - Key stocks that performed well include Leap Motor, Fuyao Glass, and King Long Automobile [17]. Industry Trends - The report forecasts a total of 23.83 million passenger vehicles sold in 2025, representing a year-on-year growth of 4.7% [35]. - The penetration rate of new energy vehicles is expected to reach 62% by 2025, with significant growth in both domestic and export markets [36][41]. - The report anticipates that the heavy truck segment will see a 5.5% increase in domestic sales, driven by demand for replacements and policy support [41]. Company Tracking - Li Auto's revenue for Q4 2024 reached 44.27 billion yuan, with a year-on-year growth of 6.1% [3]. - Leap Motor has launched its B10 model, targeting the high-value smart electric vehicle market with competitive pricing [3]. - The report highlights the performance of various automakers, noting that companies like Xpeng and BYD are leading in the smart technology race [5][38].

周观点：人形机器人产业端进展频出， 持续关注人形机器人产业链 ——人形机器人行业周报（2025.3.3-2025.3.7） [Table_Rating] 增持（维持） [◼Table_Summary] 主要观点 （1）优必选促发群体智能觉醒，在极氪实现全球首例多台多场景多任 务人形机器人协同实训。近日，优必选在极氪5G智慧工厂开展全球首 例多台、多场景、多任务的人形机器人协同实训，探索建立面向多任 务工业场景的通用人形机器人群体作业解决方案，推动人形机器人从 单机自主向群体智能进化。 （2）中国政府网发布视频《机器人群侠传》。中国政府网在公众号发 布了视频《机器人群侠传》，视频经过剪辑，将不同场景、种类繁多的 机器人与武林绝技相联系，全方位展示了我国在机器人领域的前沿成 果。 （3）《深圳市具身智能机器人技术创新与产业发展行动计划（2025- 2027年）》发布。3月3日，《深圳市具身智能机器人技术创新与产业发 展行动计划（2025-2027年）》（以下简称《行动计划》）正式发布。深 圳将重点引领核心技术攻坚突破、打造公共服务平台矩阵，吸引更多 上下游企业、科研机构、创新团队等聚集，营造最优创新生态，推动 具 ...

| 证券代码：601689 | 证券简称：拓普集团 公告编号：2025-024 | | --- | --- | | 转债代码：113061 | 转债简称：拓普转债 | 宁波拓普集团股份有限公司 关于"拓普转债"赎回结果暨股份变动公告 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。 重要内容提示： 一、本次可转债赎回的公告情况 （一）有条件赎回条款满足情况 自 2025 年 1 月 22 日至 2025 年 2 月 19 日，宁波拓普集团股份有限公司（以 下简称"公司"）的股票已有十五个交易日的收盘价格不低于"拓普转债"当期 转股价格的 130％（即 62.48 元/股），已满足"拓普转债"的有条件赎回条款。 （二）本次赎回事项公告披露情况 公司于 2025 年 2 月 19 日召开了第五届董事会第十七次会议， 审议通过了 《关于提前赎回"拓普转债"的议案》，决定行使"拓普转债"的提前赎回权， 对赎回登记日收市后登记在册的"拓普转债"按照债券面值加当期应计利息的价 格全部赎回。公司于 2025 年 2 月 20 日披露了《 ...