Summary of the Conference Call for Yapu Co., Ltd. Industry Overview - The automotive industry investment is focusing on the certification and testing sector, which is less correlated with sales, and the components sector benefiting from consumption upgrades and overseas expansion, such as modification, aftermarket, and overseas factory enterprises [2][5] Company Insights - Yapu Co., Ltd. is an automotive fuel tank supplier with potential in the extended range and plug-in hybrid vehicle markets, generating approximately 8 billion RMB in annual revenue, with over 40% coming from localized production overseas [2][6] - The company has established localized production capacity in seven countries, mitigating tariff risks and benefiting from local policy incentives [7] - Yapu Co., Ltd. acquired Yingfang Technology, a leading domestic supplier of rotary transformers with over 50% market share, which will diversify Yapu's business [2][8] Financial Performance - Yapu Co., Ltd. has a strong financial position with a historical average dividend payout ratio exceeding 55%, and the major shareholder is increasing stock holdings while the company is repurchasing shares to reduce circulation and enhance earnings per share [3][12] - The projected net profit for 2025 is approximately 530 million RMB, increasing to 600 million RMB in 2026, indicating a reasonable valuation at 15 times earnings [3][13] Strategic Plans - The company plans to optimize existing production capacity and consider new facilities in India, the United States, and assess feasibility in Central Asia, Southeast Asia, and North Africa [9] - Yapu Co., Ltd. aims to continue pursuing acquisition opportunities to enhance business diversification and overall competitiveness [9] Market Outlook - The overall sentiment towards the automotive sector is cautiously optimistic, with attention to the impact of demand and supply on terminal prices and the potential pressure on company performance due to high depreciation and amortization from previous investments [4] Investment Opportunities - Investment opportunities are identified in three areas: automotive testing and certification sectors, automotive components related to new consumption trends, and overseas manufacturing to avoid tariffs and trade barriers [5] Shareholder Influence - The major shareholder, Guotou Group, may allocate more project resources to support Yapu Co., Ltd.'s multi-asset layout, providing additional development opportunities and resource support [11]

证券代码：603013 证券简称：亚普股份 公告编号：2025-037 亚普汽车部件股份有限公司 关于股东增持股份进展暨增持时间过半的公告 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律责任。 重要内容提示： 已披露增持计划情况: 亚普汽车部件股份有限公司（以下简称公司）于 2025 年 4 月 9 日披露了《关于间接股东买入公司股份暨股东增持计划的公告》（公 告编号：2025-016），自 2025 年 4 月 8 日起 6 个月内，中国国投高新产业投资有 限公司（以下简称国投高新）和国投高科技投资有限公司（以下简称国投高科） 拟以自有资金通过上海证券交易所交易系统以集中竞价或大宗交易方式增持公 司股份，增持金额不低于人民币 4000 万元且不超过人民币 8000 万元（含国投高 新首次买入金额）。本次增持计划不设价格区间，将根据公司股票价格波动情况 及资本市场整体趋势实施增持计划。 增持计划的实施进展：公司于近日收到国投高新和国投高科关于增持计 划实施进展的通知。截至 2025 年 7 月 7 日收盘，国投高新和国投高 ...

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律责任。 重要内容提示： ? 已披露增持计划情况: 亚普汽车部件股份有限公司（以下简称公司）于 （公 证券代码：603013 证券简称：亚普股份 公告编号：2025-037 亚普汽车部件股份有限公司 关于股东增持股份进展暨增持时间过半的公告 告编号：2025-016），自 2025 年 4 月 8 日起 6 个月内，中国国投高新产业投资有 限公司（以下简称国投高新）和国投高科技投资有限公司（以下简称国投高科） 拟以自有资金通过上海证券交易所交易系统以集中竞价或大宗交易方式增持公 司股份，增持金额不低于人民币 4000 万元且不超过人民币 8000 万元（含国投高 新首次买入金额）。本次增持计划不设价格区间，将根据公司股票价格波动情况 及资本市场整体趋势实施增持计划。 中国国投高新产业投资有限公司 增持主体名称 国投高科技投资有限公司 ? 增持计划的实施进展：公司于近日收到国投高新和国投高科关于增持计 划实施进展的通知。截至 2025 年 7 月 7 日收盘，国投高新和国投高科合计 ...

Group 1: Company Insights - Yapu Co., Ltd. is expanding its overseas business leveraging its global layout and brand influence, with significant growth potential in its fuel system business, which serves major international and domestic automotive manufacturers [1] - The company is focusing on the development of IV-type hydrogen storage bottles and has successfully launched some valve products in the market, while also expanding its thermal management product line [1] - The recent acquisition of Winshang Technology enhances Yapu's capabilities in rotary transformers and special motor products, catering to various automotive and industrial clients [1] Group 2: Industry Trends - Huitian Co., Ltd. emphasizes differentiated operations and sustainable long-term benefits, with projected revenues of approximately 10.093 billion yuan from the enterprise communications market and about 2.408 billion yuan from the automotive sector in 2024 [2] - The company is accelerating customer certification and product introduction at its Thailand production base, aiming to control initial costs while responding to the growing demand for 800G switches in the data center market [2] - Huitian is increasing capital expenditure for a new high-end printed circuit board expansion project, expecting capacity improvements by the second half of 2025 [2]

Group 1 - The chairman of Yapu Automotive Parts Co., Ltd., Jiang Lin, has submitted his resignation due to job relocation, effective after the election of a new director at the shareholders' meeting [1][2] - Jiang Lin's resignation will not affect the minimum number of board members required by law, ensuring the normal operation of the board [1] - The company will promptly complete the necessary procedures for the election of a new non-independent director and chairman, as well as adjustments to the strategic and ESG committee and audit committee [1] Group 2 - Jiang Lin will continue to fulfill his duties until the resignation takes effect, after which he will no longer hold any position within the company [2] - As of the announcement date, Jiang Lin holds 60,000 shares in the company and has no unfulfilled commitments [2] - The board expresses gratitude for Jiang Lin's significant contributions to the company's high-quality development, particularly in areas such as reform, market expansion, business transformation, corporate governance, and information management [2]

证券代码：603013 证券简称：亚普股份 公告编号：2025-036 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： 具体内容详见公司分别于 2025 年 4 月 17 日、4 月 30 日在上海证券交易所网 站披露的《关于以集中竞价交易方式回购公司股份方案的公告》（公告编号： 2025-017）、《关于以集中竞价交易方式回购公司股份的回购报告书》（公告编号： 2025-025）。 因公司实施了 2024 年年度权益分派，根据回购报告书，公司本次以集中竞价 交易方式回购股份价格上限由 24.36 元/股调整为 24.01 元/股，调整后的回购股份 价格上限于 2024 年年度权益分派除权除息日生效。具体内容详见公司于 2025 年 5 月 28 日在上海证券交易所网站披露的《关于 2024 年年度权益分派实施后调整回 购股份价格上限的公告》（公告编号：2025-032）。 二、回购股份的进展情况 根据《上市公司股份回购规则》《上海证券交易所上 ...

证券代码：603013 证券简称：亚普股份 公告编号：2025-035 亚普汽车部件股份有限公司 关于公司董事长离任的公告 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。 近日，亚普汽车部件股份有限公司（以下简称"亚普股份""公司"）董事会 收到董事长姜林先生递交的辞呈。姜林先生因工作调动，申请辞去公司第五届董 事会董事长、董事、战略与 ESG 委员会主任委员、审计委员会委员职务。 二、离任对公司的影响 根据《公司法》《亚普汽车部件股份有限公司章程》等有关规定，姜林先生 的辞任不会导致公司董事会成员低于法定最低人数，不会影响公司董事会的正常 运作。公司将尽快按照法定程序完成补选非独立董事、选举董事长、调整董事会 战略与 ESG 委员会主任委员及审计委员会委员等相关工作，并履行信息披露义务。 姜林先生的辞职报告将在公司股东大会选举产生新任董事后正式生效，同时 按照公司相关规定完成工作交接。在此期前，姜林先生将按照相关法律法规和《公 司章程》的规定继续履行公司董事会非独立董事、董事长、董事会战略与 ESG 委员会主任委员及审计委员 ...

Investment Rating - The automotive industry is rated as "Overweight" with expectations of outperforming the market in the next six months [52]. Core Views - The automotive sector saw a weekly increase of 2.88%, outperforming the CSI 300 index by 0.93 percentage points during the period from June 22 to June 27, 2025 [10][41]. - Retail sales of passenger vehicles in June increased by 24% year-on-year, with a total of 1,008.6 million units sold year-to-date, reflecting an 11% increase compared to the previous year [6][42]. - The new Xiaomi YU7 SUV model launched successfully, achieving over 240,000 pre-orders within 18 hours of its release [3][42]. Summary by Sections Market Review - The automotive sector's performance for the week (June 22-27, 2025) showed a 2.88% increase, with the passenger vehicle segment rising by 0.08% and commercial vehicles by 1.01% [10][41]. - The automotive parts sector increased by 4.62%, while the automotive services sector rose by 4.27%, both outperforming the CSI 300 index [10][41]. Valuation Levels - As of June 27, 2025, the automotive industry's PE-TTM was 25.9, up by 0.72 from the previous week. The valuations for passenger vehicles, commercial vehicles, and parts were 25.37, 35.87, and 24.46 respectively [11][41]. New Vehicle Launches - A total of 28 new models were launched during the week, including the Xiaomi YU7, which is priced between 25.35 and 32.99 million yuan [38][40]. Investment Recommendations - The report suggests that the automotive sector is expected to continue its upward trend, with specific focus on the performance of electric vehicles and related technologies [41].

Group 1 - The company announced a share repurchase plan with a proposed amount between 100 million yuan and 200 million yuan [1] - The repurchase period is set from April 29, 2025, to April 28, 2026 [1] - The repurchased shares will be used to reduce registered capital [1] Group 2 - The company has already repurchased 100,000 shares, accounting for 0.02% of the total share capital [1] - The total amount spent on repurchases so far is approximately 1.66 million yuan [1] - The actual repurchase price ranged from 16.48 yuan to 16.79 yuan per share [1] Group 3 - The maximum repurchase price was adjusted from 24.36 yuan to 24.01 yuan per share due to the annual equity distribution [2] - The company will continue to make repurchase decisions based on market conditions during the repurchase period [3] - The company is committed to timely information disclosure regarding the progress of the share repurchase [3]

因公司实施了 2024 年年度权益分派，根据回购报告书，公司本次以集中竞价 交易方式回购股份价格上限由 24.36 元/股调整为 24.01 元/股，调整后的回购股份 价格上限于 2024 年年度权益分派除权除息日生效。具体内容详见公司于 2025 年 5 月 28 日在上海证券交易所网站披露的《关于 2024 年年度权益分派实施后调整回 购股份价格上限的公告》（公告编号：2025-032）。 二、回购股份的进展情况 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 2025 29 4 | 4 | 月 | 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 ...