证券简称：星宇股份 证券代码：601799 编号：2025-031 常州星宇车灯股份有限公司 关于 2020 年公开发行可转换公司债券募集资金项目结项并 将节余募集资金永久补充流动资金的公告 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。 证券简称：星宇股份 证券代码：601799 编号：2025-031 重要内容提示： 常州星宇车灯股份有限公司（以下简称"公司"）本次拟结项的项目为"智能 制造产业园模具工厂"和"智能制造产业园五期"，本次结项后公司 2020 年公开发 行可转换公司债券募集资金投资项目已全部结项。为提高募集资金使用效率，公 司拟将节余募集资金 25,443.92 万元（含利息收入扣除手续费后净额，约占本次 募集资金净额的 17.07%，实际金额以资金转出当日专户余额为准）永久补充流 动资金。划转完成后，公司将对相关募集资金专户进行销户，相关募集资金监管 协议将予以终止。现将有关情况公告如下： 本次结项的募投项目名称：2020 年公开发行可转换公司债券募集资金对 应的投资项目"智能制造产业园模具工厂"和"智能制 ...

国泰海通证券股份有限公司 关于常州星宇车灯股份有限公司 2020 年公开发行可转换公司债券募投项目结项并将 节余募集资金永久补充流动资金的核查意见 国泰海通证券股份有限公司（以下简称"保荐机构"或"国泰海通证券"） 作为常州星宇车灯股份有限公司（以下简称"星宇股份"或"公司"）2020 年公 开发行可转换公司债券的保荐机构，根据《上市公司募集资金监管规则》《上海 证券交易所股票上市规则》《上海证券交易所上市公司自律监管指引第 1 号—— 规范运作》等相关法律、法规和规范性文件的规定，对星宇股份 2020 年公开发 行可转换公司债券募投项目结项并将节余募集资金永久补充流动资金事项进行 了专项核查，具体情况如下： 2020 年 10 月 28 日，公司、保荐机构国泰海通证券股份有限公司（曾用名： 国泰君安证券股份有限公司）与中国建设银行股份有限公司常州新北支行、中信 银行股份有限公司常州分行分别签订了《募集资金专户存储三方监管协议》，三 方监管协议与上海证券交易所《募集资金专户存储三方监管协议（范本）》不存 在重大差异，明确了各方的权利和义务。报告期内，公司实际履行不存在违反《募 集资金专户存储三方监管协议》、违 ...

常州星宇车灯股份有限公司 2025 年员工持股计划管理办法 第一条 为规范常州星宇车灯股份有限公司（以下简称"公司"）2025 年员工 持股计划（以下简称"员工持股计划"或"本次员工持股计划"）的实施与管理， 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》）、《关于上市公司实施员工持股计划试点的指导 意见》（以下简称《指导意见》）、《上海证券交易所上市公司自律监管指引第 1 号——规范运作》（以下简称《自律监管指引》）等相关法律、行政法规、规 章、规范性文件，以及《常州星宇车灯股份有限公司 2025 年员工持股计划（草 案）》（以下简称"员工持股计划草案"）和《常州星宇车灯股份有限公司章程》 （以下简称《公司章程》）之规定，特制定《常州星宇车灯股份有限公司 2025 年员工持股计划管理办法》（以下简称"本办法"）。 第二条 员工持股计划的基本原则 （一） 依法合规原则 公司实施员工持股计划，严格按照法律、行政法规的规定履行程序，真实、 准确、完整、及时、公平地实施信息披露。任何人不得利用员工持股计划进行内 幕交易、操纵证券市场等证券欺诈行为。 员工持股计划参 ...

Core Viewpoint - Xingyu Co., Ltd. announced the election of Mr. Xu Huiyi as the employee representative director of the seventh board of directors during the employee representative assembly held on October 27, 2025 [1] Group 1 - The employee representative assembly was convened on October 27, 2025 [1] - Mr. Xu Huiyi was elected as the employee representative director [1] - The term of Mr. Xu Huiyi will last until the end of the seventh board of directors' term [1]

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。 证券简称：星宇股份 证券代码：601799 编号：2025-029 常州星宇车灯股份有限公司 关于选举第七届董事会职工代表董事的公告 常州星宇车灯股份有限公司董事会 二〇二五年十月二十八日 证券简称：星宇股份 证券代码：601799 编号：2025-029 根据《中华人民共和国公司法》、《公司章程》等有关规定，常州星宇车灯股 份有限公司（以下简称"公司"）于 2025 年 10 月 27 日召开了职工代表大会。经 职工代表大会审议通过，选举徐惠仪先生（简历附后）为公司第七届董事会职工 代表董事，任期自本次职工代表大会选举通过之日起至公司第七届董事会任期届 满之日止。 徐惠仪先生原为公司第七届董事会非职工代表董事，经本次职工代表大会选 举通过后，徐惠仪先生变更为公司第七届董事会职工代表董事，公司第七届董事 会成员不变。 本次选举职工代表董事工作完成后，公司第七届董事会中兼任公司高级管理 人员职务的董事以及由职工代表担任的董事，总计未超过公司董事总数的 1/2， 符合有关法律法规、规 ...

Core Insights - The article discusses the competitive landscape of global Tier 1 automotive suppliers, highlighting the rise of Chinese manufacturers in the electric and intelligent driving sectors while traditional players face challenges [2][4][5]. Group 1: Global Tier 1 Suppliers Ranking - The top 20 global Tier 1 automotive suppliers for 2025 are led by Bosch, ZF Friedrichshafen, and Denso, with strengths in automotive electronics, powertrains, and autonomous driving [2]. - Notable Chinese suppliers like Desay SV and Foryoung are making significant strides in intelligent driving and automotive electronics, indicating a shift in market dynamics [2][5]. Group 2: Trends in Electrification and Intelligence - The electrification trend is accelerating, with battery manufacturers like CATL and BYD increasing their market share, particularly in the context of rapid growth in new energy vehicles [3]. - Intelligent driving and smart cockpit technologies are emerging as core growth areas, with Chinese firms gaining market share in these domains [3]. Group 3: Market Competition Dynamics - Traditional Tier 1 suppliers such as Bosch and ZF are experiencing revenue and profit declines in 2024, despite their established technological advantages [4]. - Chinese Tier 1 suppliers are breaking through barriers in the new energy and intelligent driving sectors, challenging the dominance of international players [5]. Group 4: Regional Market Changes - The Chinese market is witnessing rapid growth in new energy vehicles, providing substantial opportunities for local Tier 1 suppliers [10]. - In contrast, the European and American markets are experiencing a slowdown in electrification but continue to demand advancements in autonomous driving and smart cockpit technologies [10]. Group 5: Technological Innovation and Collaboration - Suppliers with comprehensive capabilities in hardware, software, and system integration are expected to capture larger market shares in the future [6]. - Traditional Tier 1 suppliers are investing in Chinese startups and developing localized products to regain their competitive edge [6].

Core Insights - On October 23, Xingyu Co., Ltd. saw a stock price increase of 0.96% with a trading volume of 180 million yuan [1] - The company reported a net financing outflow of 21.59 million yuan on the same day, with a total financing and securities balance of 262 million yuan [1] Financing Overview - On October 23, the financing buy-in amount for Xingyu Co., Ltd. was 5.81 million yuan, while the financing repayment was 27.40 million yuan, resulting in a net financing outflow of 21.59 million yuan [1] - The current financing balance stands at 259 million yuan, accounting for 0.71% of the circulating market value, which is above the 90th percentile level over the past year [1] Securities Lending Overview - On October 23, the company repaid 3,000 shares in securities lending and sold 4,500 shares, amounting to 575,500 yuan based on the closing price [1] - The securities lending balance is 3.67 million yuan, also exceeding the 90th percentile level over the past year [1] Company Profile - Xingyu Co., Ltd. is located in Changzhou, Jiangsu Province, and was established on May 18, 2000, with its listing date on February 1, 2011 [1] - The company specializes in providing automotive lighting products to vehicle manufacturers, focusing on the research, design, manufacturing, and sales of automotive (mainly passenger vehicle) lighting [1] - The main business revenue composition is 95.71% from automotive parts and 4.29% from other sources [1] Shareholder and Financial Performance - As of June 30, the number of shareholders for Xingyu Co., Ltd. reached 11,600, an increase of 21.14% from the previous period [2] - The company achieved a revenue of 6.76 billion yuan for the first half of 2025, representing an 18.20% year-on-year growth, and a net profit of 706 million yuan, up 18.88% year-on-year [2] - Since its A-share listing, the company has distributed a total of 3.65 billion yuan in dividends, with 1.08 billion yuan distributed in the last three years [2] Institutional Holdings - As of June 30, 2025, Hong Kong Central Clearing Limited is the second-largest circulating shareholder, holding 24.14 million shares, an increase of 3.74 million shares from the previous period [2] - Other notable institutional shareholders include Fuquan Tianhui Growth Mixed Fund and Huatai-PB CSI 300 ETF, which have also increased their holdings [2]

10月22日，星宇股份盘中上涨2.04%，截至10:21，报130.75元/股，成交8080.35万元，换手率0.22%，总 市值373.53亿元。 资金流向方面，主力资金净流出398.10万元，大单买入1380.07万元，占比17.08%，卖出1778.17万元， 占比22.01%。 星宇股份今年以来股价跌1.09%，近5个交易日跌5.66%，近20日涨4.94%，近60日涨8.20%。 截至6月30日，星宇股份股东户数1.16万，较上期增加21.14%；人均流通股24732股，较上期减少 17.45%。2025年1月-6月，星宇股份实现营业收入67.57亿元，同比增长18.20%；归母净利润7.06亿元， 同比增长18.88%。 分红方面，星宇股份A股上市后累计派现36.51亿元。近三年，累计派现10.79亿元。 机构持仓方面，截止2025年6月30日，星宇股份十大流通股东中，香港中央结算有限公司位居第二大流 通股东，持股2414.46万股，相比上期增加373.85万股。富国天惠成长混合(LOF)A/B（161005）位居第 五大流通股东，持股350.04万股，相比上期增加50.04万股。华泰柏瑞沪深30 ...

Core Viewpoint - The strategic cooperation agreement between Changzhou Xingyu Automotive Lighting Co., Ltd. and JAKA Robotics Co., Ltd. aims to leverage their complementary strengths in technology and long-term collaboration to promote the integration of artificial intelligence with the automotive and robotics industries [1][5]. Group 1: Strategic Cooperation - The cooperation will focus on three main areas: joint innovation in embodied intelligence, integration of robotics with AI algorithms for smart manufacturing, and sharing of technology standards and scene data to enhance the domestic production of core components and innovation in application scenarios [5][8]. - The partnership aims to create a closed-loop ecosystem of "technology research and development - scene verification - mass application," facilitating industrial chain collaboration and upgrades [5][8]. Group 2: Company Profiles - Xingyu Co. is a leading manufacturer and design provider of automotive lighting systems in China, achieving a revenue of 13.253 billion yuan in 2024, representing a year-on-year growth of 29.32%. The company has established a competitive edge in intelligent visual systems, including HD-ADB headlights and DLP projection interaction [7]. - JAKA Co. is a global leader in general-purpose intelligent robotics, serving notable clients such as Toyota and Schneider. The company has developed a diverse range of products in the embodied intelligence field, including the JAKA K1 dual-arm robot and the JAKA EVO industrial intelligent platform, showcasing strong innovation capabilities [8].

Investment Rating - The report maintains a "Strong Buy" rating for the company, with a target price range of 181.8 to 218.1 CNY, indicating an expected upside of 37% to 64% from the current price of 132.62 CNY [2][7]. Core Insights - The company has entered a strategic partnership with Jieka Co., a leader in collaborative robotics, to explore opportunities in the field of embodied intelligent robots. This collaboration aims to innovate in three key areas: integrated smart terminals for interaction, innovation in intelligent manufacturing, and the localization of core components in the robotics supply chain [2][7]. - The company is positioned as a significant player in the high-end intelligent automotive lighting market, with its projection headlights already being used in popular models such as the Wuling M9 and Zeekr 9X. The report anticipates further growth in market share as production ramps up [7]. - The financial forecasts indicate robust growth, with total revenue expected to reach 16.0 billion CNY in 2025, growing at a year-on-year rate of 20.8%. Net profit is projected to be 1.7 billion CNY, also reflecting a growth rate of 20.8% [3][8]. Financial Summary - Total revenue projections for the company are as follows: - 2024: 13.25 billion CNY - 2025: 16.02 billion CNY - 2026: 18.91 billion CNY - 2027: 22.19 billion CNY - Net profit forecasts are: - 2024: 1.41 billion CNY - 2025: 1.70 billion CNY - 2026: 2.08 billion CNY - 2027: 2.60 billion CNY - Earnings per share (EPS) is expected to grow from 4.93 CNY in 2024 to 9.10 CNY by 2027 [3][8]. Market Position and Growth Potential - The company has established a solid foundation for growth in the intelligent automotive lighting sector, with expectations of increased average selling prices (ASP) and market share expansion, particularly in overseas markets such as Serbia, Mexico, and the United States [7]. - The partnership with Jieka Co. is expected to enhance the company's capabilities in integrating AI with automotive and robotics industries, potentially leading to innovative applications and improved operational efficiencies [7].