一、会议以 5 票赞成，0 票弃权，0 票反对，审议通过了《关于 2024 年前三 季度利润分配预案的议案》，并同意将该议案提交股东大会审议。 监事会对本议案发表如下意见：2024 年前三季度利润分配预案以权益分派 股权登记日股数为基数，向全体股东按每 10 股派发现金 1.00 元(含税)实施现金 分红，剩余利润结转至下年度分配。本次利润分配方案兼顾了股东合理回报及公 司可持续发展，符合公司持续、稳定的利润分配政策。 证券代码：601965 股票简称：中国汽研 编号：临2024-049 中国汽车工程研究院股份有限公司 第五届监事会第十三次会议决议公告 本公司监事会及监事会全体成员保证公告内容不存在任何虚假记载、误导 性陈述或者重大遗漏，对其内容的真实性、准确性和完整性依法承担法律责任。 中国汽车工程研究院股份有限公司（以下简称"公司"）第五届监事会第十 三次会议于 2024 年 12 月 10 日在重庆以现场加通讯表决方式召开。会议通知于 2024 年 12 月 5 日以电子邮件方式送达公司监事。会议由监事会主席游丹主持， 监事应到 5 人，实到 5 人。会议符合《公司法》和《公司章程》的规定，会议程 序及 ...

证券代码：601965 证券简称：中国汽研 公告编号：临2024-048 中国汽车工程研究院股份有限公司 第五届董事会第十七次会议决议公告 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。 中国汽车工程研究院股份有限公司（以下简称"中国汽研"或"公司"）第 五届董事会第十七次会议于 2024 年 12 月 10 日在重庆以现场加通讯表决方式召 开。会议通知于 2024 年 12 月 5 日以电子邮件方式送达公司董事。本次会议由周 玉林董事长主持，应出席董事 8 名，实际出席董事 8 名，公司全体监事列席本次 会议。会议符合《公司法》和《公司章程》的规定，会议程序及表决结果合法有 效。会议形成决议如下： 一、以 8 票赞成、0 票弃权、0 票反对，审议通过了《关于 2024 年前三季度 利润分配预案的议案》，并同意将该议案提交股东大会审议。 该议案已经公司董事会战略委员会和独立董事专门会议审议通过，并同意提 交董事会审议。 具体内容详见公司同日披露于《中国证券报》《上海证券报》和上海证券交 易所网站（www.sse.com.cn） ...

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 2024 年第二次临时股东大会 证券代码：601965 证券简称：中国汽研 公告编号：临 2024-052 中国汽车工程研究院股份有限公司 关于召开 2024 年第二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。 召开的日期时间：2024 年 12 月 26 日 13 点 30 分 召开地点：重庆市北部新区金渝大道 9 号中国汽研行政楼 405 会议室 (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大会网络投票系统 网络投票起止时间：自 2024 年 12 月 26 日 股东大会召开日期：2024年12月26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 至 2024 年 12 月 26 日 采用上海证券交易所网络投票系统，通过 ...

证券代码：601965 股票简称：中国汽研 编号：临2024-047 中国汽车工程研究院股份有限公司 关于参加"重庆辖区上市公司 2024 年投资者网上集 体接待日活动"的公告 本公司董事会及董事会全体成员保证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、准确和完整承担法律责任。 为加强上市公司与投资者之间的沟通交流，促进上市公司进一步做好投资者 关系管理工作，在重庆证监局指导下，重庆上市公司协会联合深圳市全景网络有 限公司举办"重庆辖区上市公司 2024 年投资者网上集体接待日活动"。 活动将于 2024 年 11 月 28 日（星期四）15:00-17:00 举行，投资者可登录 "全景路演"网站（https://rs.p5w.net）参与本次活动。 届时，本公司相关人员将参加本次活动，通过网络在线交流形式，与投资者 进行在线交流。欢迎广大投资者积极参与。 特此公告。 中国汽车工程研究院股份有限公司董事会 2024 年 11 月 22 日 ...

证券代码：601965 股票简称：中国汽研 编号：临2024-047 中国汽车工程研究院股份有限公司 关于参加"重庆辖区上市公司 2024 年投资者网上集 体接待日活动"的公告 本公司董事会及董事会全体成员保证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、准确和完整承担法律责任。 为加强上市公司与投资者之间的沟通交流，促进上市公司进一步做好投资者 关系管理工作，在重庆证监局指导下，重庆上市公司协会联合深圳市全景网络有 限公司举办"重庆辖区上市公司 2024 年投资者网上集体接待日活动"。 活动将于 2024 年 11 月 28 日（星期四）15:00-17:00 举行，投资者可登录 "全景路演"网站（https://rs.p5w.net）参与本次活动。 届时，本公司相关人员将参加本次活动，通过网络在线交流形式，与投资者 进行在线交流。欢迎广大投资者积极参与。 特此公告。 中国汽车工程研究院股份有限公司董事会 2024 年 11 月 22 日 ...

Investment Rating - The investment rating for the company is "Outperform the Market" and is maintained [2] Core Views - The report highlights the growth potential of the company driven by the trend of smart technology in the automotive industry. The company reported a revenue of 1.02 billion yuan for Q3 2024, representing a year-on-year increase of 13.9%. The net profit attributable to the parent company was 260 million yuan, up 22.0% year-on-year [5][6] Financial Performance - For the first half of 2024, the company successfully advanced its various business segments, focusing on market and customer needs. The automotive technology service business saw a year-on-year increase in business volume, while the specialized vehicle modification and sales business optimized market development strategies, leading to an increase in new orders and revenue [5] - The company achieved significant cost reduction, with the decline in operating costs exceeding the decline in revenue. The hydrogen energy-related products in the automotive gas system and key components business also saw revenue growth due to successful acceptance and delivery [5] Earnings Forecast and Valuation - The company is expected to generate revenues of 4.5 billion yuan, 4.9 billion yuan, and 5.3 billion yuan for the years 2024, 2025, and 2026, respectively. The net profit attributable to the parent company is projected to be 955 million yuan, 1.05 billion yuan, and 1.15 billion yuan for the same years. The earnings per share (EPS) are forecasted to be 0.95 yuan, 1.05 yuan, and 1.15 yuan [6][9] - Based on comparable companies, a price-to-earnings (PE) ratio of 22-24x for 2025 is suggested, leading to a reasonable value range of 20.94 to 22.84 yuan per share [6] Market Comparison - The company's stock performance is compared against the CSI 300 index, showing a relative performance of -1.3% over one month, 19.2% over two months, and 20.5% over three months [4]

中国汽研（601965）机构调研纪要（2024 年 11 月） | | 基本信息 | 交流机构 | | --- | --- | --- | | 日期 | 2024 年 11 月 4 日 | 招商证券、中泰证券、广发证券、中邮证券、中金公司、申万 | | 公司 | | 宏源、海通证券、兴业证券、东吴证券、华泰证券、国信证券、 | | 交流 | 董事/总经理/董秘：刘安民 | 东北证券、西部证券、西南证券、民生证券、华创证券、财通 | | 人员 | 证券事务代表：叶丰瑞 | 证券、信达证券、德邦证券、方正证券、山西证券、天风证券、 | | | | 国海证券、国元证券、南京证券、联储证券、东亚前海、浦银 | | | | 安盛、易方达、建信养老、东兴基金、九泰基金、国泰基金、 | | | | 万泰华瑞投资、清和泉资管、鸿运私募基金、明盛资管、羊角 | | | | 基金、固禾私募基金、双安资管、华皓汇金私募、森锦投资、 | | | | 泾溪投资、谦心投资、兴亿投资、乾锦豪资管、鸿竹资管、成 | | 交流 | 线上 | 泉资本、嘉世私募、永安国富资管、冠达泰泽基金、合道资管、 | | 方式 | | 从容投资、华泰资管、昆 ...

Summary of Conference Call Company and Industry Overview - The conference call pertains to a Chinese company involved in the automotive testing and inspection industry, specifically focusing on the detection and evaluation of vehicles and their components. Key Points and Arguments 1. **Financial Performance**: - For the first three quarters, the company reported revenue of 3.047 billion (30.47亿), a year-on-year increase of 18.12% [1] - Technical service revenue was 2.591 billion (25.91亿), up 18.69% year-on-year, attributed to enhanced market development and collaboration with key clients [1] - Equipment business revenue reached 456 million (4.56亿), reflecting a 15% year-on-year growth [1] 2. **Profitability**: - The company achieved a gross profit of 670 million (6.7亿), a year-on-year increase of 18.77% [2] - The gross profit margin is stable, with technical services contributing significantly to the overall margin [10] 3. **Business Segmentation**: - The company’s business is divided into regulatory (strong inspection) and non-regulatory (non-strong inspection) testing, with the latter growing in proportion [3][4] - Strong inspection accounts for over 40%, while non-strong inspection is over 50% [3] 4. **Emerging Opportunities**: - The company is focusing on the growth of intelligent automotive technologies, which have already contributed significantly to revenue, with expectations of reaching 700 million to 800 million (7亿到8亿) in revenue from intelligent services this year [5] - New mandatory standards for intelligent connected vehicles are expected to drive future revenue growth [6] 5. **Market Strategy**: - The company is pursuing a strategy to enhance its capabilities in the aftermarket sector, particularly in electric vehicle battery safety testing, which is currently underdeveloped [16][17] - Plans to integrate big data and AI into their services to improve consumer offerings in the aftermarket [17] 6. **International Expansion**: - The company is exploring international markets, with a focus on product testing and certification, although current revenue from overseas operations is still limited [23][24] - The company aims to follow domestic manufacturers as they expand internationally, indicating a strategic approach to global market penetration [23] 7. **Operational Efficiency**: - The company is actively working on improving operational efficiency and capacity utilization across its facilities, with some labs operating at full capacity [26][27] - New capabilities are being added annually to meet growing demand [27] 8. **Future Outlook**: - The company anticipates continued growth in the intelligent automotive sector, although the exact timing and scale of revenue increases remain uncertain due to market conditions [12][22] - The focus will be on developing robust technical services and products to ensure long-term sustainability and profitability [19][29] Additional Important Information - The company is undergoing a strategic integration process within its group to enhance operational efficiency and reduce competition among subsidiaries [8] - There is a recognition of the challenges in expanding into the aftermarket and the need for a solid foundation before pursuing aggressive revenue targets [17][19] - The company is committed to maintaining a stable gross margin despite pressures from market competition and changing business dynamics [28][29] This summary encapsulates the key insights from the conference call, highlighting the company's financial performance, strategic direction, and market opportunities within the automotive testing and inspection industry.

证券代码：601965 证券简称：中国汽研 公告编号：临 2024-046 航天资产计划通过上海证券交易所交易系统以集中竞价或大宗交易的 方式，减持其持有的中国汽研股份不超过 10,032,856 股，计划减持的股份 不超过中国汽研股份总数的 1.00%，本次减持期间为自本公告发布之日起 15 个交易日后的 3 个月内。 | 一、减持主体的基本情况 | | --- | | 股东名称 | 股东身份 | 持股数量（股） | 持股比例 | 当前持股股份来源 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 航天资产 | 5%以上非第 | 90,118,300 | 8.98% | 行 | 政 | 划 | 转 | 取 | 得 | ： | | | 一大股东 | | | 90,118,300 股 | | | | | | | 中国汽车工程研究院股份有限公司 股东减持股份计划公告 本公司董事会、全体董事及相关股东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 ...

Investment Rating - The report maintains an "Accumulate" rating for the company [1] Core Views - The company has shown steady revenue growth, with a year-on-year increase of 18.12% in the first three quarters, achieving a revenue of 3.047 billion yuan [1] - The net profit for the same period reached 670 million yuan, reflecting a year-on-year growth of 21.71% [1] - The company is focusing on enhancing its strategic advantages and expanding into new business areas, particularly in electric energy, hydrogen energy, and energy storage [1] Financial Performance Summary - Revenue (in million yuan): - 2022A: 3,291 - 2023A: 4,007 - 2024E: 4,764 - 2025E: 5,478 - 2026E: 6,580 - Year-on-year growth rates: - 2023A: 22% - 2024E: 19% - 2025E: 15% - 2026E: 20% [1] - Net Profit (in million yuan): - 2022A: 689 - 2023A: 825 - 2024E: 942 - 2025E: 1,119 - 2026E: 1,392 - Year-on-year growth rates: - 2023A: 20% - 2024E: 14% - 2025E: 19% - 2026E: 24% [1] - Earnings per Share (in yuan): - 2022A: 0.69 - 2023A: 0.82 - 2024E: 0.94 - 2025E: 1.12 - 2026E: 1.39 [1] Business Development - The company is actively expanding its market presence through deep cooperation with key clients and enhancing its technical service capabilities [1] - The report highlights the successful integration of new business areas, including intelligent driving evaluation and electric vehicle certification [1] - The company has established a strategic cooperation network in key regions such as Europe and Southeast Asia, enhancing its international business footprint [1]