常州星宇车灯股份有限公司独立董事候选人声明 本人伍颖恩,已充分了解并同意由提名人常州星宇车灯股份有限公司董事会 提名为常州星宇车灯股份有限公司(以下简称"该公司")第七届董事会独立董 事候选人。本人公开声明,本人具备独立董事任职资格,保证不存在任何影响本 人担任该公司独立董事独立性的关系,具体声明如下: 一、本人具备上市公司运作的基本知识,熟悉相关法律、行政法规、部门规 章及其他规范性文件,具有 5年以上法律、经济、会计、财务、管理或者其他履 行独立董事职责所必需的工作经验。 本人会积极参加证券交易所组织的各项培训,进一步提升独立董事履职能力。 二、本人任职资格符合下列法律法规和部门规章以及公司规章的要求: (一)《中华人民共和国公司法》关于董事任职资格的规定; (二)《中华人民共和国公务员法》关于公务员兼任职务的规定(如适用); (十)其他法律法规、部门规章、规范性文件和上海证券交易所规定的情形。 三、本人具备独立性,不属于下列情形: (一)在该公司或者其附属企业任职的人员及其配偶、父母、子女、主要社 会关系(主要社会关系是指兄弟姐妹、兄弟姐妹的配偶、配偶的父母、配偶的兄 弟姐妹、子女的配偶、子女配偶的父母 ...

(四)中共中央纪委、中共中央组织部《关于规范中管干部辞去公职或者退 (离)休后担任上市公司、基金管理公司独立董事、独立监事的通知》的规定(如 适用): 常州星宇车灯股份有限公司独立董事提名人声明 提名人常州星宇车灯股份有限公司(以下简称"公司")董事会,现提名伍 颍恩女士为常州星宇车灯股份有限公司第七届董事会独立董事候选人,并已充分 了解被提名人职业、学历、职称、详细的工作经历、全部兼职、有无重大失信等 不良记录等情况。被提名人已同意出任常州星宇车灯股份有限公司第七届董事会 独立董事候选人(参见该独立董事候选人声明)。 提名人认为,被提名人具备独立董事任职资格,与常州星宇车灯股份有限公 司之间不存在任何影响其独立性的关系,具体声明如下: 一、被提名人具备上市公司运作的基本知识,熟悉相关法律、行政法规、规 章及其他规范性文件,具有 5年以上法律、经济、会计、财务、管理或者其他履 行独立董事职责所必需的工作经验。 二、被提名人任职资格符合下列法律、行政法规和部门规章以及公司规章的 要求: (一)《中华人民共和国公司法》关于董事任职资格的规定; (二)《中华人民共和国公务员法》关于公务员兼任职务的规定(如适用); ...

证券简称：星宇股份 证券代码：601799 编号：2025-050 常州星宇车灯股份有限公司 关于聘请本次发行 H 股并上市审计机构的公告 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。 常州星宇车灯股份有限公司（以下简称"公司"）于 2025 年 12 月 30 日召开 第七届董事会第六次会议，审议通过《关于公司聘请本次发行 H 股并上市的审 计机构的议案》，同意聘请国卫会计师事务所有限公司（以下简称"国卫所"）为 公司拟申请首次公开发行境外上市外资股（H 股）并在香港联合交易所有限公司 主板上市（以下简称"本次发行 H 股并上市"）的审计机构。本事项尚需提交公 司股东会审议批准。现将有关情况公告如下： 一、拟聘请审计机构的基本情况 （一）机构信息 1.基本信息 国卫所成立于 1983 年，注册地址为香港特别行政区中环毕打街 11 号置地广 场告罗士打大厦 31 字楼。截至 2025 年 8 月 31 日，国卫所拥有董事 17 名，为大 约 90 家上市公司提供年报审计服务，主要服务行业包括房地产和建筑、证券投 资、家电和家 ...

证券代码：601799 证券简称：星宇股份 公告编号：2025-051 常州星宇车灯股份有限公司 关于召开2026年第一次临时股东会的通知 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： (五) 网络投票的系统、起止日期和投票时间。 网络投票系统：上海证券交易所股东会网络投票系统 网络投票起止时间：自2026 年 1 月 15 日 至2026 年 1 月 15 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会召开当日的 9:15-15:00。 (六) 融资融券、转融通、约定购回业务账户和沪股通投资者的投票程序 股东会召开日期：2026年1月15日 本次股东会采用的网络投票系统：上海证券交易所股东会网络投票系统 一、 召开会议的基本情况 (一) 股东会类型和届次 2026年第一次临时股东会 (二) 股东会召集人：董事会 (三) 投票方式：本次股东会所采用的表 ...

证券简称：星宇股份 证券代码：601799 编号：2025-046 常州星宇车灯股份有限公司 第七届董事会第六次会议决议公告 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法律责任。 一、董事会会议召开情况 (一)本次会议的召开符合有关法律、行政法规、部门规章、规范性文件和公 司章程的规定。 (二)本次会议通知于 2025 年 12 月 25 日以电话、电子邮件和现场送达的方 式发出。 (三)本次会议于 2025 年 12 月 30 日在本公司以现场结合通讯表决方式召开。 (五)本次会议由公司董事长周晓萍女士主持，公司部分高级管理人员及董事 会秘书列席了本次会议。 二、董事会会议审议情况 经审议，会议做出如下决议： (一)审议通过《关于公司发行 H 股股票并在香港联合交易所有限公司上市 的议案》 为深化国际化战略布局，提升公司品牌国际影响力，积极借助国际资本市场 拓展多元化融资渠道，助力公司高质量发展，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》"）、中国 证券监督管理委员会（ ...

每经AI快讯，12月30日，星宇股份（601799）(601799.SH)公告称，公司拟申请首次公开发行境外上市 外资股(H股)并在香港联交所上市。本次发行并上市符合境内有关法律、法规和规范性文件的要求和条 件。董事会已审议通过相关议案，包括发行H股股票并在香港联交所上市的议案、发行H股股票并上市 方案的议案等。此外，公司还审议通过了关于公司申请转为境外募集股份有限公司的议案、关于公司发 行H股股票募集资金使用计划的议案等。该议案需提交公司2026年第一次临时股东会审议。 ...

Core Viewpoint - Xingyu Co., Ltd. has shown a mixed performance in terms of stock trading and financial results, with notable increases in revenue and net profit, while also experiencing fluctuations in shareholder composition and financing activities [1][2]. Group 1: Stock Performance and Financing - On December 29, Xingyu Co., Ltd. saw a stock decline of 0.63% with a trading volume of 181 million yuan [1]. - The financing buy-in amount for the day was 18.47 million yuan, with a net financing buy of 1.45 million yuan, indicating active trading [1]. - The total financing and securities balance reached 205 million yuan, with the financing balance accounting for 0.57% of the circulating market value, which is above the 70th percentile of the past year [1]. Group 2: Financial Results - For the period from January to September 2025, Xingyu Co., Ltd. reported a revenue of 10.71 billion yuan, reflecting a year-on-year growth of 16.09% [2]. - The net profit attributable to shareholders was 1.14 billion yuan, marking a year-on-year increase of 16.76% [2]. - The company has distributed a total of 3.71 billion yuan in dividends since its A-share listing, with 1.14 billion yuan distributed over the past three years [2]. Group 3: Shareholder Composition - As of September 30, 2025, the number of shareholders increased by 19.06% to 13,800, while the average circulating shares per person decreased by 16.01% to 20,772 shares [2]. - Hong Kong Central Clearing Limited is the second-largest circulating shareholder, increasing its holdings by 12.72 million shares to 36.86 million shares [2]. - New shareholders include Huaxia Energy Innovation Stock A, holding 1.80 million shares, while other major shareholders have seen reductions in their holdings [2].

Core Viewpoint - The overall Beta of the automotive parts sector is expected to weaken in 2026, with structural opportunities being more favorable than total opportunities. The humanoid robot sector opens up valuation elasticity for automotive parts, focusing on three main technology lines: "Intelligent Driving (L2++/L3/L4) + Liquid Cooling (AIDC) + Humanoid Robots," along with the long-term certainty of "going overseas." Traditional advantageous tracks should be selectively laid out based on "performance realization + new order production" [3][8]. EPS Dimension - In the existing market, companies with high competitiveness that enhance market share and those that enter high-value tracks through internal and external expansion to increase ASP should be prioritized. The globalization of automotive parts opens up growth space, with a focus on production capacity in Europe, North America, and Southeast Asia, significantly enhancing growth potential and risk resistance. Companies are expected to transition to global Tier 1/platform leaders between 2026-2030. Recommended companies include Fuyao Glass, Xingyu Co., Minth Group, Joyson Electronics, and Xingyuan Zhuomag, with New Spring Co. as a focus [4][8]. PE Dimension - Intelligent Driving: The penetration of L2++ is accelerating, with L3 regulations and urban NOA speeding up, and L4-level smart vehicles rapidly landing. Focus on chip + domain control + core sensors + steer-by-wire chassis (systematic capabilities in cost/algorithm/safety redundancy). Recommended companies include Horizon Robotics, Black Sesame, and Desay SV. Companies to watch include Bertel and Nexperia [5][9]. - Robotics: Transitioning from "0→1" to "1→10," benefiting from large models + actuators/reducers/lead screws/force sensors, with a focus on automotive parts leaders that have "technological synergy + manufacturing collaboration." Recommended companies include Top Group, Minth Group, and Shuanghuan Transmission, with a focus on Yapu Co. and Daimay Co. [5][9]. - Liquid Cooling: AI capital expenditure growth and AIDC power consumption increase; the liquid cooling temperature control market is expected to reach hundreds of billions by 2030. Automotive parts should focus on thermal management/pipes/quick connectors, emphasizing system integration and cost reduction capabilities. Recommended companies include Minth Group, Yinlun Co., and Feilong Co. [5][9]. Emerging Industries - The expansion of emerging industries is expected to be less than anticipated, with downstream demand also falling short of expectations, and increasing geopolitical uncertainties [7]. Globalization - The global light vehicle market has a capacity of nearly 80 million units. The overseas light vehicle market is vast, with the 2024 overseas light vehicle production expected to reach 51.7 million units, accounting for 66% of the global market. The globalization of automotive parts is crucial for achieving significant revenue scales [47][49][50]. Conclusion - The automotive parts sector is entering a phase where structural opportunities are prioritized over total market growth. Companies focusing on intelligent driving, robotics, and liquid cooling technologies are expected to lead the way, while globalization will enhance growth potential and resilience against risks [3][4][5][8].

Core Conclusions - The overall beta of the automotive parts sector is expected to weaken in 2026, with structural opportunities being more favorable than total opportunities. The focus should be on "smart driving (L2++/L3/L4) + liquid cooling (AIDC) + humanoid robots" as the three main technology lines, along with the long-term certainty of "going overseas" [2][34] - EPS perspective: 1) Seek alpha that can traverse cycles in the existing market, prioritizing product companies with high competitiveness that can increase market share and companies that can enhance ASP by entering high-value tracks through internal and external expansion. 2) Globalization opens up growth space for automotive parts, with a significant increase in growth potential and risk resistance by prioritizing capacity layout in Europe, North America, and Southeast Asia [2][34] - Recommended companies include Fuyao Glass, Xingyu Co., Minth Group, Joyson Electronics, and Xingyuan Zhuomag, with New Spring Co. as a focus [2] EPS Dimension Outlook - The automotive parts sector's beta is expected to be weak due to domestic total factors in 2026, with structural opportunities preferred over total opportunities. The focus should be on high-competitiveness product companies that can increase market share and those that can enhance ASP by entering high-value tracks through internal and external expansion [34] - Globalization is expected to open up growth space for automotive parts, with incremental orders mainly coming from Southeast Asia and European new energy markets [34] Market Review - The automotive parts sector's overall performance in 2025 was significantly influenced by AI and robotics, with the sector index outperforming the market in the first half of the year. However, it faced challenges in the second half due to U.S. tariffs and price wars [11][19] - The sector's valuation fluctuated, starting from approximately 21 times earnings at the beginning of 2025, peaking at 32 times by September, and then adjusting back down due to tariff impacts and slower-than-expected robotics progress [11][19] Globalization and Market Expansion - The global light vehicle production is projected to reach 78.82 million units in 2024, with overseas markets, particularly in Europe and North America, being significant contributors [52][57] - Chinese automotive parts companies are increasingly following domestic car manufacturers in their overseas expansion, leveraging cost control and response efficiency advantages [60][61] Recommended Companies and Focus Areas - Companies recommended for investment include Fuyao Glass, Xingyu Co., Minth Group, and others that are positioned to benefit from high competitiveness and market share growth [2][34] - Focus areas include smart driving technologies, liquid cooling systems, and humanoid robotics, which are expected to drive growth in the automotive parts sector [2][34]

Core Insights - The transition from L2 to L3 represents a critical leap from driver assistance to autonomous driving, with responsibility potentially shared among drivers, manufacturers, and autonomous system suppliers [2] Investment Summary - The first L3-level vehicles have been approved for road use, marking a significant milestone in China's autonomous driving industry, transitioning from laboratory testing to legitimate road applications [3] - The approval establishes a clear safety baseline by allowing conditional and limited scenarios for testing, promoting innovation while ensuring safety [3] - The high reliability and safety redundancy requirements of L3 systems will drive technological upgrades across the entire supply chain, including perception hardware, computing platforms, and software algorithms [3] Future Outlook - Pilot programs are expected to expand from current highway and congested scenarios to more complex urban roads, with legal and technical standards evolving based on pilot experiences to support broader adoption [3] - The high costs associated with vehicles equipped with advanced autonomous driving features need to decrease through technological advancements and economies of scale for widespread consumer adoption [3][4] Investment Strategy and Focus - The automotive sector should focus on undervalued leading manufacturers and component suppliers benefiting from performance improvements, particularly in the fields of new energy and intelligent vehicles [5] - Recommended companies include early movers in the new energy sector such as BYD, Changan Automobile, Geely, and Li Auto; stable low-valuation component leaders like Huayu Automotive and Fuyao Glass; and key players in electrification and intelligence like Desay SV, Ruikeda, and Kobot [5] - The strategy also highlights opportunities arising from domestic substitution due to the "domestic circulation" initiative, with companies like Lingdian Electric Control and Sanhua Intelligent Control being of interest [5] Key Focus Companies - The investment focus for the week includes BYD, Li Auto, Top Group, Desay SV, and Shangsheng Electronics [6]