艾 纯 2025 年 2 月 26 日 关于《神驰机电股份有限公司股票交易异常波动问询函》的回复 神驰机电股份有限公司： 贵公司股票 2025 年 2 月 24 日、2025 年 2 月 25 日、2025 年 2 月 26 日连续 三个交易日收盘价格涨幅偏离值累计达到 20%，本人于 2025 年 2 月 26 日收到贵 公司发来的《神驰机电股份有限公司股票交易异常波动问询函》，作为贵公司控 股股东、实际控制人，经自查，不存在以下情况： 1、影响贵公司股价的应披露而未披露的重大事项； 2、可能导致贵公司控股权发生变化的事项； 3、股票异常波动期间买卖贵公司股票的行为； 4、筹划涉及贵公司的重大资产重组、股份发行、收购、债务重组、业务重 组、资产剥离、资产注入、股份回购、股权激励、破产重整、重大业务合作、引 进战略投资者等重大事项。 控股股东、实际控制人： ...

Summary of Conference Call Company and Industry Overview - The conference call focused on the company "Shengzhi Construction," which operates in the generator manufacturing industry. The global market for generators is approximately 10 million units, with the company currently holding a market share of about 6-7%, translating to 600,000 to 700,000 units sold [1][2]. Key Points and Arguments - The company has maintained a stable scale over the past few years, with a capacity utilization rate consistently exceeding 100%. However, it has not expanded production due to certain limitations [1]. - A significant development occurred with the approval of land in Chongqing, which is expected to allow the company to double its production capacity. This removal of production constraints is anticipated to lead to an annual growth rate of 15% to 20% in its core business [2]. - The company is also exploring opportunities in the robotics sector, supported by local government initiatives in the Sichuan-Chongqing region. The limited number of listed component companies in this area presents a potential growth avenue for Shengzhi Construction [2]. - The company's growth in its core business is considered relatively certain, with a projected annual growth rate of 15% to 20%. This stability allows for a valuation of 20 times earnings, which could increase to 25 times if the company successfully transitions into robotics [3]. - Projections indicate that by 2025, the company's earnings could reach approximately 240 to 250 million, with a potential target market capitalization of around 6 billion, based on a valuation of 20 to 25 times earnings [3]. Additional Important Information - The company is positioned favorably within its industry, with a strong order backlog and a clear growth trajectory compared to its peers [3]. - The conference concluded with an invitation for further inquiries, indicating openness to investor engagement and interest in future developments [4].

证券代码：603109 证券简称：神驰机电 公告编号：2025-005 神驰机电股份有限公司 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。 根据《上市公司监管指引第 3 号——上市公司现金分红（2023 年修订）》 及神驰机电股份有限公司《章程》等相关规定，为做好公司 2024 年度利润分配 工作，增强公司利润分配方案决策的透明度，保护广大投资者尤其是中小投资者 的利益，公司决定就 2024 年度利润分配事项公开征求投资者意见。 本次征求意见的时间为 2025 年 2 月 20 日至 2025 年 3 月 20 日，投资者可通 过电子邮箱将意见和建议反馈至公司邮箱：dsh@senci.com，并同时提供相关身 份、持股证明及联系方式等资料。 关于 2024 年度利润分配事项征求投资者意见的公告 特此公告。 神驰机电股份有限公司董事会 2025 年 2 月 20 日 1 ...

Investment Rating - The report assigns a "Buy" rating for the company, indicating a positive outlook for investment [1][8]. Core Insights - The company is positioned to benefit from three driving forces: capacity release, policy incentives, and AI infrastructure development, which are expected to enhance growth potential [1][8]. - The company has established a strong competitive moat through a comprehensive industry chain layout and global marketing strategies, effectively penetrating mainstream channels in Europe, America, and Southeast Asia [3]. - The company is expanding its production capacity with projects in both domestic and Vietnam locations, which will significantly enhance its growth momentum and profitability [4][8]. - The government is expected to increase subsidies for agricultural machinery, which will likely boost domestic demand, particularly benefiting the company due to its specialized products [5][6]. - The global AI arms race is driving a surge in data center capital expenditures, creating structural opportunities for the company's diesel generator business [7][8]. Summary by Sections Company Overview - The company has a total market capitalization of 42 billion yuan and a current stock price of 20.17 yuan, with a 52-week price range of 11.78 to 21.08 yuan [1]. Production Capacity and Expansion - The company is investing 349 million yuan in a new production base in Chongqing, which will add 800,000 units of high-end capacity annually upon completion in 2026 [4]. - The Vietnam expansion project is also underway, with an investment of up to 30 million USD, aimed at leveraging low-cost manufacturing and tariff advantages [4]. Policy and Market Demand - The central government's focus on agricultural machinery upgrades is expected to create a favorable environment for the company, with policies shifting towards more targeted subsidies and support for high-end equipment [5][6]. - The company is well-positioned to benefit from these policy changes due to its capabilities in producing specialized machinery for hilly areas [6]. Financial Projections - Revenue forecasts for 2024, 2025, and 2026 are projected at 26.47 billion, 34.11 billion, and 43.42 billion yuan, respectively, with corresponding EPS of 1.03, 1.43, and 1.94 yuan [8][10]. - The company is expected to experience significant growth in profitability, with net profit projections of 215 million, 300 million, and 405 million yuan for the same years [10].

Investment Rating - The report assigns a "Buy" rating for the company, indicating a positive outlook for investment [1][8]. Core Insights - The company is positioned to benefit from three driving forces: capacity release, policy incentives, and AI infrastructure development, which are expected to enhance growth potential [1][8]. - The company has established a strong competitive moat through a comprehensive industry chain layout and global marketing strategy, supported by a significant number of patents and certifications that enhance its market position [3][4]. - The expansion projects in both domestic and Vietnam markets are progressing well, which will significantly increase production capacity and improve profitability [4][8]. - The anticipated increase in agricultural machinery subsidies from government policies is expected to boost domestic demand, benefiting the company [5][6]. - The global surge in AI data center capital expenditures presents structural opportunities for the company's diesel generator business, as demand for backup power sources is expected to rise [7][8]. Summary by Sections Company Overview - The company has a total market capitalization of 42 billion yuan and a current stock price of 20.17 yuan, with a 52-week price range of 11.78 to 21.08 yuan [1]. Financial Projections - Revenue forecasts for 2024, 2025, and 2026 are projected at 26.47 billion, 34.11 billion, and 43.42 billion yuan respectively, with corresponding EPS of 1.03, 1.43, and 1.94 yuan [8][10]. - The company is expected to experience significant revenue growth rates of 28.8% in 2025 and 27.3% in 2026, driven by policy catalysts and increased demand from AI infrastructure [10][11]. Market Positioning - The company has a robust global marketing network that penetrates mainstream channels in Europe, America, and Southeast Asia, enhancing its operational capabilities [3][4]. - The company holds 341 patents, including 34 inventions, which support its technological advancements and brand premium [3]. Expansion and Capacity - The domestic expansion project in Chongqing is set to add 800,000 units of high-end production capacity by 2026, while the Vietnam project aims to leverage low-cost manufacturing advantages [4][8]. Policy Environment - The central government's focus on agricultural machinery upgrades and subsidies is expected to create a favorable demand environment for the company [5][6].

| 回购方案首次披露日 | 2024/7/20 | | --- | --- | | 回购方案实施期限 | 待董事会审议通过后 个月 12 | | 预计回购金额 | 5,000 万元~8,000 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 | 146.326 万股 | | 累计已回购股数占总股本比例 | 0.7% | | 累计已回购金额 | 万元 1,787.87 | 证券代码：603109 证券简称：神驰机电 公告编号：2025-004 神驰机电股份有限公司 关于股份回购进展公告 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： 截至 2025 年 1 月 31 日，公司已累计回购股份 146.326 万股，占公司总股本 的比例为 0.7%，购买的最高价为 12.99 元/股、最低价为 11.61 元/股，已支付的 总金额为 1,787.87 万元（不含印花税、交易佣金等交易费用）。 三 ...

关于部分限制性股票回购注销的实施公告 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个别及连带责任。 证券代码：603109 证券简称：神驰机电 公告编号：2025-002 神驰机电股份有限公司 重要内容提示： ●回购注销原因：公司 2021 年限制性股票激励计划授予的激励对象中 3 人 因个人原因离职而不再具备激励对象资格，其所持有的尚未解除限售的限制性 股票共计 1.008 万股应由公司回购注销。 ●本次注销股份的有关情况 | 回购股份数量 | 注销股份数量 | | 注销日期 | | | | | --- | --- | --- | --- | --- | --- | --- | | 10,080 股 | 10,080 | 股 | 2025 1 月 | 年 | 14 | 日 | 一、 本次限制性股票回购注销的决策与信息披露 公司分别于 2024 年 10 月 9 日、2024 年 11 月 15 日召开第四届董事会第二 十四次会议和 2024 年第一次临时股东大会，审议通过了《关于回购注销部分限 制性股票暨调整回购价格的议案》，公司 ...

国浩律师（重庆）事务所 关于 神驰机电股份有限公司 二零二五年一月 國浩律師(重慶)事務所 GRANDALL LAW FIRM (CHONGQING) 法律意见书 目 录 | 第一节 뤼 言 | | --- | | 第二节 正 文 . | | 一、本次回购注销的批准、授权及信息披露 | | 二、本次回购注销的情况 | | 三、结论意见 … | | 第三节 签署页 | 2 回购注销 2021 年限制性股票激励计划部分 限制性股票 之 法律意见书 中国重庆市江北区江北城西街 25 号平安财富中心 8 楼 400023 电话：（86 23）8679 8588 6775 8383 传真：（86 23）8679 8722 网址/Website: http://www.grandall.com.cn 法律意见书 国浩律师（重庆）事务所 关于神驰机电股份有限公司 回购注销 2021 年限制性股票激励计划部分限制性股票 之法律意见书 致：神驰机电股份有限公司 国浩律师（重庆）事务所（以下简称"本所"）受神驰机电股份有限公司（以 下简称"神驰机电"或"公司"）的委托，担任公司实施 2021 年限制性股票激励计 划（以下简称"本 ...

证券代码：603109 证券简称：神驰机电 公告编号：2025-001 | 回购方案首次披露日 | 2024/7/20 | | --- | --- | | 回购方案实施期限 | 待董事会审议通过后 个月 12 | | 预计回购金额 | 5,000 万元~8,000 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 | 146.326 万股 | | 累计已回购股数占总股本比例 | 0.7% | | 累计已回购金额 | 万元 1,787.87 | 神驰机电股份有限公司 关于股份回购进展公告 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： 一、 回购股份的基本情况 神驰机电股份有限公司于 2024 年 7 月 19 日召开了第四届董事会第二十二次 会议，审议通过了《关于以集中竞价交易方式回购公司股份的议案》，同意公司以 不超过人民币 13 元/股（含）的价格，采用集中竞价方式回购公司股份，回购总 ...

证券代码：603109 证券简称：神驰机电 公告编号：2024-094 神驰机电股份有限公司 关于调整回购股份资金来源暨 收到《恒丰银行股票回购贷款告知函》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个别及连带责任。 重要内容提示： 公司于 2024 年 7 月 20 日在上海证券交易所网站披露了《关于以集中竞 价交易方式回购公司股份的公告》、《关于以集中竞价交易方式回购公司股份的 回购报告书》，公司拟将以上回购股份的资金来源由"自有资金"调整为"自有 资金和自筹资金"。除上述调整外，回购股份方案的其他内容未发生变化。 （2024-043）。 二、回购股份的进展情况 截至 2024 年 11 月 30 日，公司已累计回购股份 146.326 万股，占公司总股 本的比例为 0.7%，购买的最高价为 12.99 元/股、最低价为 11.61 元/股，已支 付的总金额为 1,787.87 万元（不含印花税、交易佣金等交易费用）。 三、本次调整回购股份资金来源的具体内容 为提高资金使用效率，充分利用国家对上市公司回购股票的支持政策，公 ...