Core Viewpoint - Tiancheng Zikong (603085.SH) announced that its wholly-owned subsidiary, Wuhan Tiancheng Zikong Automotive Seat Co., Ltd., has received a project confirmation for passenger car seat assemblies from a leading domestic automotive enterprise, marking a significant recognition of the company's innovation, R&D capabilities, product quality, and full industry chain support [1] Group 1 - The project is expected to start mass production in April 2026, with a lifecycle of three years and an estimated total supply of 153,000 passenger vehicles during this period [1] - This collaboration signifies the company's ongoing expansion and deepening presence in the passenger vehicle market, which is crucial for consolidating and enhancing its influence in this sector [1] - The company will continue to actively explore the passenger vehicle seat market and strengthen its layout in this business area [1] Group 2 - The company's passenger vehicle seat business includes complete automotive seats and core components such as seat frames, sliding tracks, angle adjusters, height pumps, and motors [1] - Accumulated service experience, customer resources, and enhanced technological innovation capabilities will further expand the company's competitiveness and influence in the passenger vehicle seat sector [1] - This development is significant for the company's market expansion and business growth in the passenger vehicle seat domain [1]

证券代码：603085 证券简称：天成自控 公告编号：2025-061 浙江天成自控股份有限公司 关于子公司收到客户项目定点通知的公告 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。 一、概况 1、上述项目定点通知尚未构成实质性订单，涉及的产品实际供货时间、供 货价格、供货数量以公司与客户正式签订的供货协议或销售合同为准，实际销售 金额将与客户汽车实际产量等因素相关，而汽车市场整体情况、宏观经济形势等 浙江天成自控股份有限公司（以下简称"公司"）全资子公司武汉天成自控 汽车座椅有限公司（以下简称"武汉天成"）于近日收到国内某头部汽车企业（限 于保密协议，无法披露其名称，以下简称"客户"）乘用车座椅总成项目的定点 通知，武汉天成获得该客户乘用车改款项目座椅总成的定点。根据客户规划，项 目预计于 2026 年 4 月开始量产，项目生命周期为 3 年，预计项目周期内配套乘 用车总量为 15.3 万辆。 二、对公司的影响 公司再次获得该客户项目定点标志着客户对公司持续创新能力、研发能力、 产品质量及全产业链配套能力的认可。此次合作是公 ...

Core Viewpoint - Tiancheng Control (603085) has received a project confirmation for passenger car seat assembly from a leading domestic automotive company, indicating a significant business opportunity for the company in the automotive sector [1] Company Summary - Tiancheng Control's wholly-owned subsidiary, Wuhan Tiancheng, has been awarded a project for passenger car seat assembly [1] - The project is part of a vehicle model update and is expected to start mass production in April 2026 [1] - The project has a lifecycle of three years, with an estimated total supply of 153,000 passenger vehicles during this period [1] Industry Summary - The automotive industry is witnessing a trend of collaboration between component manufacturers and leading automotive companies for vehicle updates [1] - The project reflects the growing demand for specialized automotive components, particularly in the passenger vehicle segment [1]

Core Viewpoint - Tiancheng Zikong (603085.SH) has received a project confirmation from a leading domestic automotive company for passenger car seat assembly, marking a significant recognition of its innovation, R&D capabilities, and product quality [1] Group 1: Project Details - The project is set to begin mass production in April 2026 and will have a lifecycle of three years, with an expected total supply of 153,000 passenger vehicles [1] - This collaboration signifies the company's ongoing expansion and deepening presence in the passenger car market [1] Group 2: Strategic Importance - The project is crucial for consolidating and enhancing the company's influence in the passenger car sector, which is expected to boost its market share in the passenger car seat business [1] - The company plans to continue actively expanding its passenger car seat market and strengthen its positioning in this business area [1] Group 3: Business Overview - The company's passenger car seat business includes complete car seats and core components such as seat frames, sliding tracks, angle adjusters, height pumps, and motors [1] - Accumulated service experience, customer resources, and enhanced technological innovation capabilities will further strengthen the company's competitiveness and influence in the passenger car seat sector [1]

格隆汇9月5日丨天成自控(603085.SH)公布，公司全资子公司武汉天成自控汽车座椅有限公司（简称"武 汉天成"）于近日收到国内某头部汽车企业（限于保密协议，无法披露其名称，简称"客户"）乘用车座 椅总成项目的定点通知，武汉天成获得该客户乘用车改款项目座椅总成的定点。根据客户规划，项目预 计于2026年4月开始量产，项目生命周期为3年，预计项目周期内配套乘用车总量为15.3万辆。 ...

Core Viewpoint - The company announced that its wholly-owned subsidiary, Wuhan Tiancheng Automotive Seat Co., Ltd., received a notification for a seat assembly project from a leading domestic automotive enterprise, with production expected to start in April 2026 and a project lifecycle of three years [1] Group 1: Project Details - The project is expected to supply a total of 153,000 passenger vehicles over its lifecycle [1] - This collaboration reflects the company's ongoing expansion and deepening presence in the passenger vehicle market [1] - The project notification does not constitute a substantial order, and actual sales will depend on the client's vehicle production, introducing uncertainty [1] Group 2: Impact on Financial Performance - The project is anticipated to have a positive impact on the company's future operating performance, although it will not significantly affect the current year's results [1] - The expected production start in April 2026 indicates a longer-term growth opportunity for the company in the automotive sector [1]

Industry Overview - The automotive seat is a core component of vehicle interiors, providing comfort and safety for passengers. It consists of various parts including seat cushions, backrests, side supports, and headrests [1] - The automotive seat industry in China has evolved through four stages: initial stage with simple structures, technological development with mechanization, rapid development with smart and personalized features, and transformation focusing on safety, comfort, lightweight, and intelligence [8][11] Market Size and Growth - The estimated market size for passenger car seats in China for 2024 is approximately 109.91 billion yuan, while the market size for commercial vehicle seats is around 15.33 billion yuan, leading to a total market size of approximately 125.34 billion yuan [23] - The automotive seat industry is projected to reach a market size of about 174.6 billion yuan by 2030, with an average annual growth rate of 5.4% [34] Competitive Landscape - Major players in the automotive seat assembly market include companies like Lear, Faurecia, Adient, and Yanfeng, with significant market shares [7][26] - The market is characterized by a high concentration of a few large enterprises, but domestic companies are increasingly gaining market share due to the rise of new energy vehicles and smart seat technologies [30][33] Technological Trends - The industry is moving towards innovations in smart, lightweight, and environmentally friendly materials, with a focus on personalized designs to meet consumer demands [30][33] - Key technological advancements include the integration of sensors for automatic adjustments, health monitoring, and the use of lightweight materials like carbon fiber and aluminum [33] Policy Environment - Current policies in China emphasize safety, lightweight design, intelligence, and green recycling, with standards being upgraded to enhance safety features and promote the use of new materials [14][15] - Regulations are set to increase the recycling rate of materials to 95% by 2030, encouraging the adoption of sustainable practices in the automotive seat industry [14] Consumer Preferences - Consumers prioritize leather seats and are increasingly interested in features such as adjustable backrests, seat height adjustments, ventilation, heating, and memory functions [21]

Core Viewpoint - Tiancheng Control (603085) reported a significant increase in total revenue and net profit for the first half of 2025, indicating strong business performance despite rising short-term debt pressure [1]. Financial Performance - Total revenue for the first half of 2025 reached 1.156 billion yuan, a year-on-year increase of 31.4% compared to 880 million yuan in 2024 [1]. - Net profit attributable to shareholders was 23.27 million yuan, up 47.55% from 15.77 million yuan in the previous year [1]. - The gross profit margin decreased to 16.63%, down 18.75% year-on-year, while the net profit margin increased to 2.01%, up 12.29% [1]. - The total of selling, administrative, and financial expenses was 94.02 million yuan, accounting for 8.14% of revenue, a decrease of 34.76% year-on-year [1]. Cash Flow and Debt Situation - Operating cash flow per share increased significantly to 0.47 yuan, a rise of 7536.42% year-on-year from -0.01 yuan [1]. - The current ratio stands at 0.9, indicating rising short-term debt pressure [1]. - The company’s cash and cash equivalents decreased by 36.61% due to a reduction in acceptance guarantee deposits [3]. Business Operations - The increase in revenue was attributed to higher orders in passenger car seat business and a recovery in the markets for engineering machinery, commercial vehicle seats, and aircraft seats [3]. - The cost of goods sold rose by 37.74%, reflecting increased sales volume [3]. - Research and development expenses increased by 37.26% due to higher total salaries for R&D personnel [5]. Investment Returns - The company's return on invested capital (ROIC) was 0.33%, indicating weak capital returns in recent years [4]. - Historical data shows a median ROIC of 4.85% since the company went public, with three years of losses out of nine annual reports, suggesting a fragile business model [4].

Core Viewpoint - The company has approved the conclusion of its fundraising projects from the 2019 private placement and plans to permanently supplement its working capital with the remaining funds of 47.14 million RMB [28][32][34]. Group 1: Company Overview - Zhejiang Tiancheng Self-Control Co., Ltd. is involved in the management and use of raised funds, ensuring compliance with relevant regulations [21][22]. - The company has established a dedicated account for managing the raised funds, ensuring proper oversight and usage [23][30]. Group 2: Financial Data - The total amount raised from the 2019 private placement was approximately 500 million RMB, with a net amount of about 486.57 million RMB after deducting fees [28][29]. - The company plans to use the remaining funds of 47.14 million RMB to enhance its liquidity and support daily operations [28][32]. Group 3: Board and Supervisory Meetings - The company's board of directors and supervisory board held meetings on August 25, 2025, to review and approve the half-year report and the proposal regarding the use of remaining funds [4][15][34]. - All board members and supervisors were present at the meetings, ensuring a valid decision-making process [3][14]. Group 4: Fund Usage and Management - The company has adhered to regulations regarding the management of raised funds, implementing a dedicated storage system for these funds [22][23]. - There were no significant issues reported regarding the use and disclosure of the raised funds during the reporting period [24][25].

证券代码：603085 证券简称：天成自控 公告编号：2025-057 浙江天成自控股份有限公司 第五届董事会第二十一次会议决议公告 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 具 体 内 容 详 见 公 司 2025 年 8 月 26 日 在 上 海 证 券 交 易 所 网 站 （www.sse.com.cn）披露的《浙江天成自控股份有限公司 2025 年半年度报告》 全文及其摘要。 本议案已经公司董事会审计委员会审议通过。 表决结果：7 票同意，0 票反对，0 票弃权。 （二）审议通过《2025 年半年度募集资金存放与实际使用情况的专项报告》 具 体 内 容 详 见 公 司 2025 年 8 月 26 日 在 上 海 证 券 交 易 所 网 站 （www.sse.com.cn）披露的《浙江天成自控股份有限公司 2025 年半年度募集资 金存放与实际使用情况的专项报告》（公告编号：2025-059）。 本议案已经公司董事会审计委员会审议通过。 浙江天成自控股份有限公司（以下简称"公司"）第五届董事 ...