Core Viewpoint - The stock of Yapu Automotive Parts Co., Ltd. has seen a 5.14% increase, reaching 24.55 CNY per share, with a trading volume of 124 million CNY and a turnover rate of 1.02%, resulting in a total market capitalization of 12.584 billion CNY [1] Company Overview - Yapu Automotive Parts Co., Ltd. is located in Yangzhou, Jiangsu Province, and was established on July 4, 1993. The company was listed on May 9, 2018. Its main business involves the research, development, manufacturing, sales, and service of energy storage systems and thermal management systems [1] - The revenue composition of the company is as follows: fuel tanks account for 94.27%, materials, aftermarket parts, and tooling sales contribute 4.03%, while fuel pipes and urea tanks make up 1.70% [1] Fund Holdings - According to data, one fund under China Resources Yuanda Fund has a significant holding in Yapu shares. The fund, China Resources Yuanda Anxin Flexible Allocation Mixed A (000273), held 10,800 shares in the third quarter, representing 3.96% of the fund's net value, ranking as the tenth largest holding [2] - The fund was established on September 11, 2013, with a latest scale of 6.8598 million CNY. Year-to-date returns are 12.92%, with a one-year return of 6.21%, and a cumulative return since inception of 176.19% [2] - The fund manager, Li Wuqin, has a tenure of 9 years and 202 days, managing assets totaling 168 million CNY, with the best return during his tenure being 104.28% and the worst being -33.82% [2]

Group 1 - The core viewpoint of the news is that Yapu Co., Ltd. experienced a stock price increase of 5.14%, reaching 24.55 CNY per share, with a trading volume of 124 million CNY and a turnover rate of 1.02%, resulting in a total market capitalization of 12.584 billion CNY [1] - Yapu Co., Ltd. is located in Yangzhou, Jiangsu Province, and was established on July 4, 1993, with its listing date on May 9, 2018. The company's main business involves the research, development, manufacturing, sales, and services of energy storage systems and thermal management systems [1] - The revenue composition of Yapu Co., Ltd. is primarily from fuel tanks at 94.27%, followed by materials, aftermarket parts, and tooling sales at 4.03%, and fuel pipes and urea tanks at 1.70% [1] Group 2 - From the perspective of Yapu Co., Ltd.'s top ten circulating shareholders, a fund under Southern Fund ranks among them. The Southern CSI 1000 ETF (512100) reduced its holdings by 12,100 shares in the third quarter, holding a total of 1.4072 million shares, which accounts for 0.27% of the circulating shares [2] - The Southern CSI 1000 ETF (512100) was established on September 29, 2016, with a latest scale of 76.63 billion CNY. Year-to-date returns are 26.26%, ranking 2020 out of 4216 in its category; the one-year return is 24.36%, ranking 1857 out of 3901; and since inception, the return is 11.74% [2] - The fund manager of Southern CSI 1000 ETF (512100) is Cui Lei, who has a cumulative tenure of 7 years. The total asset scale under management is 122.76 billion CNY, with the best fund return during the tenure being 166.54% and the worst being -15.93% [2]

Investment Rating - The report maintains a "Buy" rating for the company [9]. Core Insights - The company achieved a revenue of 6.616 billion yuan in the first three quarters of 2025, representing a year-on-year increase of 16.62%. The net profit attributable to shareholders was 417 million yuan, up 11.58% year-on-year [5]. - The gross margin for Q3 2025 improved both year-on-year and quarter-on-quarter, primarily due to the increased revenue share from high-value hybrid fuel systems [6]. - The demand for hybrid vehicles is strong, and the company has enhanced its competitiveness in its main business through a well-established global layout [7]. - The company has completed the acquisition of a 54.50% stake in Winshang Technology, a leader in the production and R&D of rotary transformers, which are core components of electric drive systems for new energy vehicles [8]. Financial Performance - The projected revenues for 2025-2027 are 8.925 billion, 9.890 billion, and 10.902 billion yuan, respectively, with net profits expected to be 556.57 million, 621.13 million, and 711.79 million yuan [9][11]. - The current price-to-earnings (P/E) ratios for 2025, 2026, and 2027 are projected to be 21.81, 19.54, and 17.05, respectively [11].

Core Points - The company, Yapu Co., Ltd. (stock code: 603013), announced on November 3 that it has repurchased a total of 3.2415 million shares through centralized bidding, which accounts for 0.63% of the company's total share capital [1] Summary by Category Company Actions - Yapu Co., Ltd. has engaged in a share repurchase program, accumulating 3.2415 million shares [1] - The repurchased shares represent 0.63% of the total share capital of the company [1] Market Impact - The announcement of the share repurchase may indicate the company's confidence in its own stock value and could potentially influence investor sentiment positively [1]

Group 1: Overall Market Performance - The overall performance of the passenger car sector in Q3 2025 was below expectations, primarily due to a slowdown in industry growth and intensified competition across all price segments[3] - The passenger car industry saw a year-on-year growth rate of only 3% in retail sales, 23% in exports, and 13% in wholesale during Q3 2025, indicating a significant deceleration compared to previous quarters[27] - The inventory levels in the industry remain healthy, with a controlled increase in stock despite the overall market pressures[27] Group 2: Segment-Specific Insights - Heavy-duty trucks experienced a strong performance in Q3 2025, with wholesale, domestic, and export sales increasing by 58.1%, 64.5%, and 22.9% year-on-year, respectively[5] - The bus sector also performed well, with leading companies like Yutong achieving significant revenue growth, driven by robust demand from both domestic and international markets[6] - The motorcycle segment saw a 57.4% increase in large-displacement motorcycle exports, while domestic sales faced pressure, declining by 9.3% year-on-year[7] Group 3: Financial Metrics and Adjustments - The average selling price (ASP) for vehicles remained stable in Q3 2025, with some companies like BYD implementing price increases starting in July[3] - The gross profit margins for many companies showed slight recovery, attributed to stable sales and limited discounting in the market[3] - Several companies, including Great Wall Motors and Changan, reported a decline in net profit due to foreign exchange losses and inventory adjustments[4]

Core Viewpoint - The company, Yapu Co., Ltd. (603013.SH), has announced a share buyback program, indicating a commitment to returning value to shareholders through repurchasing shares [1] Summary by Categories Share Buyback Details - As of October 31, 2025, the company has repurchased a total of 4.3797 million shares, which represents 0.85% of the total share capital [1] - The highest purchase price for the shares was 23.93 yuan per share, while the lowest was 16.48 yuan per share [1] - The total amount spent on the buyback, excluding transaction fees, is 100,015,473.00 yuan [1]

证券代码：603013 证券简称：亚普股份 公告编号：2025-067 亚普汽车部件股份有限公司 关于以集中竞价交易方式回购股份的进展公告 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。 重要内容提示： | 回购方案首次披露日 | 2025/4/17，由董事长提议 | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 回购方案实施期限 | 年 月 2025 4 4 | 29 | 日~2026 | 年 | 月 | 日 28 | | 预计回购金额 | 10,000万元~20,000万元 | | | | | | | 回购用途 | √减少注册资本 □用于员工持股计划或股权激励 | | | | | | | | □用于转换公司可转债 □为维护公司价值及股东权益 | | | | | | | 累计已回购股数 | 437.97万股 | | | | | | | 累计已回购股数占总股本比例 | 0.85% | | | | | | | 累计已回购金额 | 100,015,473.00元 | ...

Core Viewpoint - The company announced a share repurchase plan with a budget of 100 million to 200 million yuan, aimed at reducing registered capital, with a deadline set for April 28, 2026 [1] Summary by Sections - **Share Repurchase Plan** - The company approved a share repurchase plan in April 2025, with a total amount ranging from 100 million to 200 million yuan [1] - The implementation period for the repurchase is until April 28, 2026 [1] - **Price Adjustments** - Due to equity distribution, the upper limit of the repurchase price was adjusted to 24.01 yuan/share and then to 23.96 yuan/share [1] - **Repurchase Progress** - In October, the company repurchased a total of 3.2415 million shares, accounting for 0.63% of total shares, with a payment of 76.5311 million yuan [1] - By the end of October, the cumulative repurchase reached 4.3797 million shares, representing 0.85% of total shares, with a total payment of 100.0155 million yuan [1] - The repurchase price ranged from 16.48 to 23.93 yuan/share [1]

Core Viewpoint - The company, Yapu Co., Ltd. (603013.SH), has announced a share buyback program, indicating a commitment to returning value to shareholders and potentially signaling confidence in its future performance [1] Summary by Categories Share Buyback Details - As of October 31, 2025, the company has repurchased a total of 4.3797 million shares, which represents 0.85% of its total share capital [1] - The highest purchase price for the shares was 23.93 CNY per share, while the lowest was 16.48 CNY per share [1] - The total amount spent on the buyback, excluding transaction fees, is 100,015,473.00 CNY [1]

智通财经APP讯，亚普股份(603013.SH)披露2025年第三季度报告，公司前三季度实现营收66.16亿元， 同比增长16.62%;归母净利润4.17亿元，同比增长11.58%;扣非净利润4.12亿元，同比增长11.08%;基本每 股收益0.81元。 ...