Core Viewpoint - The company, Shanghai Automotive Air Conditioning Parts Co., Ltd., has shown growth in revenue and net profit, with a focus on expanding its international market presence and enhancing its product offerings in the automotive sector, particularly in the areas of fuel distribution and thermal management systems for vehicles [3][8]. Company Overview - Shanghai Automotive Air Conditioning Parts Co., Ltd. was established on July 8, 1992, and listed on November 1, 2023. The company specializes in the research, development, production, and sales of automotive air conditioning pipes and fuel distribution pipes [7]. - The company's main business revenue composition includes 79.38% from automotive thermal management system products, 18.86% from automotive engine system products, and 1.76% from other sources [7]. Financial Performance - For the period from January to September 2025, the company achieved a revenue of 1.645 billion yuan, representing a year-on-year growth of 6.41%. The net profit attributable to the parent company was 135 million yuan, with a slight increase of 0.28% year-on-year [8]. - The company has distributed a total of 202 million yuan in dividends since its A-share listing [9]. Market Position and Strategy - The company is recognized as a key supplier of air conditioning pipes for various traditional fuel vehicles and has become one of the main suppliers for electric vehicle air conditioning pipes [3]. - The company plans to establish a wholly-owned subsidiary in Morocco with an investment of up to 100 million yuan to enhance its international market strategy and overall competitiveness [3]. Client Relationships - The company's fuel distribution pipes are supplied to globally recognized engine manufacturers, including BorgWarner and NPP ITELMA LLC, indicating strong and stable long-term partnerships [2].

Core Viewpoint - Shanghai Auto Parts, a significant player in the automotive components sector, focuses on the research, development, and production of automotive air conditioning pipes and fuel distribution pipes, and was listed on the Shanghai Stock Exchange on November 1, 2023 [1] Group 1: Business Performance - In Q3 2025, Shanghai Auto Parts achieved a revenue of 1.645 billion yuan, ranking 44th among 103 companies in the industry, significantly lower than the industry leader Weichai Power's 170.571 billion yuan and second-place Top Group's 20.928 billion yuan, and below the industry average of 3.82 billion yuan but above the median of 1.381 billion yuan [2] - The net profit for the same period was 135 million yuan, ranking 38th in the industry, with the top company Weichai Power reporting a net profit of 10.852 billion yuan and the industry average at 275 million yuan, while the median was 92.141 million yuan [2] Group 2: Financial Ratios - As of Q3 2025, Shanghai Auto Parts had a debt-to-asset ratio of 21.69%, down from 24.83% year-on-year and significantly lower than the industry average of 39.06%, indicating strong solvency [3] - The gross profit margin for the same period was 20.64%, slightly up from 20.38% year-on-year but below the industry average of 21.53% [3] Group 3: Management and Shareholder Structure - The controlling shareholder of Shanghai Auto Parts is Shanghai Automotive Air Conditioning Factory Co., Ltd., with the actual controller being the People's Government of Beicai Town, Pudong New District, Shanghai [4] - Chairman Zhang Chaohui has served since January 2011, while General Manager Wang Youzhao has been in position since April 2020, with a slight decrease in Wang's salary for 2024 to 2.0037 million yuan from 2.005 million yuan in 2023 [4] Group 4: Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 5.49% to 29,400, with an average holding of 7,431.25 circulating A-shares, which is an increase of 5.81% [5]

Core Viewpoint - Shanghai Auto Parts (603107.SH) reported a revenue of 1.645 billion yuan for the first three quarters of 2025, reflecting a year-on-year growth of 6.41% [1] - The net profit attributable to shareholders reached 135 million yuan, showing a slight increase of 0.28% year-on-year [1] - The basic earnings per share stood at 0.4 yuan [1] Financial Performance - Total operating revenue for the first three quarters: 1.645 billion yuan, up 6.41% year-on-year [1] - Net profit attributable to parent company shareholders: 135 million yuan, up 0.28% year-on-year [1] - Basic earnings per share: 0.4 yuan [1]

证券代码：603107 证券简称：上海汽配 公告编号：2025-059 上海汽车空调配件股份有限公司 关于使用部分暂时闲置募集资金进行现金管理 及募集资金余额以协定存款方式存放的公告 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。 重要内容提示： 投资种类及投资金额： 募集资金余额以协定存款方式存放；同时，在保证不影响募集资金投资项目 （以下简称"募投项目"）进度、不影响公司正常生产经营及确保资金安全的前 提下，使用不超过人民币 20,000 万元（包含本数）的暂时闲置募集资金进行现 金管理，用于购买大额存单、定期存款等安全性高、流动性好、保本型金融产品。 已履行及拟履行的审议程序 本事项已经上海汽车空调配件股份有限公司（简称"上海汽配"或"公司"） 第三届审计委员会第十四次会议、第三届董事会第二十次会议审议通过，国联民 生证券承销保荐有限公司（2025 年 9 月，原保荐机构民生证券股份有限公司承 销保荐业务整合至国联民生证券承销保荐有限公司，以下简称"保荐机构"）已 发表明确同意意见，本事项无需提交股东会审议。 特别风险提 ...

证券代码：603107 证券简称：上海汽配 公告编号：2025-061 上海汽车空调配件股份有限公司关于使用 部分暂时闲置募集资金进行现金管理的进展公告 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： 2024 年 10 月 29 日，公司第三届董事会第十二次会议和公司第三届监事会 第十一次会议审议通过了《关于使用部分暂时闲置募集资金进行现金管理及募集 资金余额以协定存款方式存放的议案》,2025 年 10 月 28 日,公司第三届董事会 第二十次会议审议通过了《关于使用部分暂时闲置募集资金进行现金管理及募集 资金余额以协定存款方式存放的议案》。 特别风险提示 本次购买的理财产品属于安全性高、流动性好、保本型金融产品，总体风险 可控，但金融市场受宏观经济的影响较大，不排除该项投资受到市场波动的影响。 提醒广大投资者注意投资风险。 一、投资情况概述 （一）投资目的 投资种类：结构性存款 投资金额：人民币 8,000 万元 已履行及拟履行的审议程序 在确保不影响募集资金投资项目建设和募集资金使用的情况下，公司合理使 ...

证券代码：603107 证券简称：上海汽配 公告编号：2025-060 上海汽车空调配件股份有限公司 关于召开 2025 年第三季度业绩说明会的公告 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。 重要内容提示： https://roadshow.sseinfo.com/） （一）会议召开时间：2025 年 11 月 14 日（星期五）15:00-16:00 （二）会议召开地点：上证路演中心 （三）会议召开方式：上证路演中心网络互动 三、参加人员 会议召开方式：上证路演中心网络互动 投资者可于 2025 年 11 月 07 日（星期五）至 11 月 13 日（星期四）16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 zqb@saaa.com.cn 进行提问。公司将在说明会上对投资者普遍关注的问题进行回 答。 上海汽车空调配件股份有限公司（以下简称"公司"）已于 2025 年 10 月 29 日发布公司 2025 年第三季度报告，为便于广大投资者更全面深入地了解公司 2025 年第三季度经营成果、财务状 ...

二、董事会会议审议情况 证券代码：603107 证券简称：上海汽配 公告编号：2025-058 上海汽车空调配件股份有限公司 第三届董事会第二十次会议决议公告 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 上海汽车空调配件股份有限公司（以下简称"公司"）于 2025 年 10 月 28 日 上午在公司三楼会议室以现场结合通讯表决方式召开第三届董事会第二十次会议。 会议通知于 2025 年 10 月 23 日以专人送达或电子邮件方式发出。本次会议由董事 长张朝晖主持，会议应出席董事 9 人，实际出席董事 9 人。本次董事会的召集和 召开符合《中华人民共和国公司法》和《上海汽车空调配件股份有限公司章程》 的有关规定，会议合法有效。 本议案以 9 票赞成，0 票反对，0 票弃权的表决结果通过。 本议案已经董事会审计委员会审议通过。保荐机构发表了无异议的核查意见。 具体内容详见公司于上海证券交易所网站（www.sse.com.cn）披露的《上海 汽车空调配件股份有限公司关于使用部分暂时闲置募集资金进行现金管理 ...

国联民生证券承销保荐有限公司（2025年9月，原保荐机构民生证券股份有 限公司承销保荐业务整合至国联民生证券承销保荐有限公司，以下简称"保荐机 构"）作为上海汽车空调配件股份有限公司（以下简称"上海汽配"或"公司"） 首次公开发行股票并在主板上市的保荐机构，根据《证券发行上市保荐业务管理 办法》、《上市公司募集资金监管规则》等有关规定，对上海汽配使用部分暂时 闲置募集资金进行现金管理及募集资金余额以协定存款方式存放的情况进行了 核查，并发表核查意见如下： 一、募集资金的基本情况 根据中国证券监督管理委员会《关于同意上海汽车空调配件股份有限公司首 次公开发行股票注册的批复》（证监许可〔2023〕1850号），公司由主承销商民 生证券股份有限公司采用余额包销方式，向社会公众公开发行人民币普通股（A 股）股票8,433.50万股，发行价为每股人民币14.23元，共计募集资金120,008.71万 元，坐扣承销和保荐费用10,900.78万元（不含税）后的募集资金为109,107.92万 元，已由主承销商民生证券股份有限公司于2023年10月27日汇入公司募集资金监 管账户。另减除保荐费、审计及验资费、律师费、用于本 ...

Financial Performance - The company's operating revenue for the third quarter reached ¥58,028.03 million, an increase of 12.11% compared to the same period last year[4] - Total profit for the quarter was ¥6,943.32 million, reflecting a significant increase of 72.33% year-over-year[4] - Net profit attributable to shareholders was ¥5,159.14 million, up 59.66% from the previous year[4] - The net profit excluding non-recurring gains and losses was ¥5,345.50 million, representing a substantial increase of 97.51% year-over-year[4] - Basic and diluted earnings per share both stood at ¥0.15, marking a 50.00% increase compared to the same period last year[5] - Total operating revenue for the first three quarters of 2025 reached ¥1,645,447,201, an increase of 6.4% compared to ¥1,546,380,191 in the same period of 2024[19] - Net profit for the first three quarters of 2025 was ¥134,615,227.83, slightly higher than ¥133,155,846.46 in 2024, indicating a growth of 1.1%[20] - The company reported a net profit attributable to shareholders of ¥135,067,995.10 for the first three quarters of 2025, compared to ¥134,695,505.06 in 2024, marking a 0.3% increase[20] Assets and Liabilities - Total assets at the end of the reporting period were ¥270,277.50 million, a decrease of 3.20% from the end of the previous year[5] - Current assets decreased to CNY 1,847,029,498.83 from CNY 1,993,261,029.33, reflecting a decline of approximately 7.34%[15] - Total current liabilities decreased to CNY 549,604,100.27 from CNY 578,794,852.43, a reduction of approximately 5.04%[16] - The total liabilities decreased from ¥714,042,963.43 in 2024 to ¥586,287,572.27 in 2025, a reduction of approximately 17.9%[17] - The total equity attributable to shareholders rose to ¥2,116,940,203.08 in 2025 from ¥2,077,943,637.76 in 2024, reflecting an increase of 1.9%[17] Cash Flow - The cash flow generated from operating activities for the quarter was ¥1,183.09 million, with a significant increase in customer payments compared to the previous year[10] - The net cash inflow from operating activities was $81,275,868.01, a significant improvement compared to a net outflow of -$22,854,000.17 in the previous period[24] - Cash received from sales of goods and services was ¥1,594,687,899.62 in 2025, compared to ¥1,484,189,393.95 in 2024, showing a growth of 7.4%[23] - Cash paid to employees increased to $189,633,705.14 from $182,226,322.03, reflecting a growth of approximately 4%[24] - The ending balance of cash and cash equivalents was $670,131,692.58, down from $811,160,198.32 at the beginning of the period[25] Expenses - Total operating costs for the first three quarters of 2025 were ¥1,491,103,861.33, up from ¥1,412,720,180.36 in 2024, reflecting a year-over-year increase of 5.5%[19] - Research and development expenses increased to ¥53,858,681.04 in 2025 from ¥38,963,729.68 in 2024, representing a significant rise of 38.2%[20] - The company reported a tax expense of ¥33,715,150.62 for the first three quarters of 2025, up from ¥31,700,516.99 in 2024, indicating a rise of 6.3%[20] Shareholder Information - The company reported a total of 29,359 common shareholders at the end of the reporting period[12] Other Information - The company incurred non-recurring losses due to personnel relocation costs associated with the air conditioning pipe production capacity relocation, impacting the financial results[10] - The company experienced a negative impact of -$2,868,984.31 from exchange rate fluctuations on cash and cash equivalents[25] - The company will not apply new accounting standards starting from 2025, as stated in the announcement[26]

Core Insights - The company reported a third-quarter revenue of 580 million yuan, representing a year-on-year increase of 12.11% [1] - The net profit for the third quarter was 51.59 million yuan, showing a significant year-on-year growth of 59.66% [1] - For the first three quarters, the total revenue reached 1.645 billion yuan, which is a year-on-year increase of 6.41% [1] - The net profit for the first three quarters was 135 million yuan, reflecting a modest year-on-year growth of 0.28% [1]