登录新浪财经APP 搜索【信披】查看更多考评等级 浙江春风动力股份有限公司 第六届董事会第十三次会议决议公告 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 浙江春风动力股份有限公司（以下简称"公司"）第六届董事会第十三次会议的会议通知已于2026年1月 30日以通讯方式发出，并于2026年2月5日以现场结合通讯会议方式召开【现场会议地址：浙江春风动力 股份有限公司会议室（浙江省杭州市临平区临平街道绿洲路16号），现场会议时间：2026年2月5日 10:00时】。会议应出席董事9名，实际出席董事9名，会议由董事长赖民杰先生主持。会议的通知、召 集、召开和表决程序符合《中华人民共和国公司法》（以下简称"《公司法》"）、《中华人民共和国证 券法》（以下简称"《证券法》"）等有关法律、法规以及《公司章程》的规定。 二、董事会会议审议情况 会议以记名和书面的方式，审议了如下议案： (一)审议通过《关于为境外孙公司提供工业厂房租赁履约担保的议案》 董事会同意公司为境外孙公司CFMOTO MEXICO POWER, ...

证券代码：603129 证券简称：春风动力 公告编号：2026-002 浙江春风动力股份有限公司 关于为境外孙公司提供工业厂房租赁履约担保 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： 担保对象及基本情况 | 被担保人名称 | | 本次担保 | 实际为其提供的 | 是否在前 | 本次担保 | | --- | --- | --- | --- | --- | --- | | | | 金额 | 担保余额（不含本 | 期预计额 | 是否有反 | | | | | 次担保金额） | 度内 | 担保 | | CFMOTO | MEXICO | | | | | | POWER,S.DE | | 2,800万美元 | 3,889.62 万美元 | 否 | 否 | | R.L.DE C.V. | | | | | | 累计担保情况 | 对外担保逾期的累计金额（万元） | 0 | | --- | --- | | 截至本公告日上市公司及其控股 | 【注】 57,400 | | 子公司对外担保总额（万元） | | | 对外担保总 ...

浙江春风动力股份有限公司 第六届董事会第十三次会议决议公告 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 证券代码：603129 证券简称：春风动力 公告编号：2026-001 (一)审议通过《关于为境外孙公司提供工业厂房租赁履约担保的议案》 董事会同意公司为境外孙公司 CFMOTO MEXICO POWER,S.DE R.L.DE C.V.租赁工业厂房提供履约担保，并同意授权董事长或其授权代表签署担保协议。 具体内容详见公司同日在上海证券交易所网站（www.sse.com.cn）以及公司 指定信息披露媒体上披露的《春风动力关于为境外孙公司提供工业厂房租赁履约 担保的公告》。 表决结果为：9 票同意，0 票反对，0 票弃权，0 票回避。 特此公告。 浙江春风动力股份有限公司 董事会 2026 年 2 月 6 日 浙江春风动力股份有限公司（以下简称"公司"）第六届董事会第十三次会 议的会议通知已于 2026 年 1 月 30 日以通讯方式发出，并于 2026 年 2 月 5 日以 现场结合通讯会议方式召 ...

（记者 王晓波） 每经AI快讯，春风动力2月5日晚间发布公告称，公司第六届第十三次董事会会议于2026年2月5日以现 场结合通讯会议方式召开。会议审议了《关于为境外孙公司提供工业厂房租赁履约担保的议案》等文 件。 每经头条（nbdtoutiao）——仅老年独居者就数千万，谁能帮他们从容老去？意定监护在国内诞生已14 年，距全面落地还差"最后一公里" ...

| 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 603129 | 春风动力 | 258.07 | 2.25% | 1.64万 | 4.20亿 | | 603529 | 爰玛科技 | 29.35 | 1.98% | 6.28万 | · 1.83亿 | | 603766 | 障 | 15.39 | 1.58% | 14.79万 | 2.27亿 | | 301345 | 涛涛车业 | 221.00 | 1.58% | 1.41万 | 3.09亿 | | 600818 | 中路股份 | 9.90 | 1.33% | 3.95万 | 3902.37万 | | 300994 | 久祺股份 | 16.85 | 0.96% | 2.74万 | 4623.33万 | | 002105 | 信隆健康 | 7.10 | 0.71% | 5.40万 | 3829.24万 | | 000913 | 钱江摩托 | 15.65 | 0.58% | 5.12万 | 7974.91万 | | 603787 | 新目股份 | 13 ...

Summary of the Conference Call Industry Overview - The conference focused on the automotive industry, specifically strategies and forecasts for 2026, with a review of the automotive market from 2005 to 2025 [1][2]. Key Insights and Arguments 1. **Sales Growth and Valuation**: - Sales growth is a sufficient but not necessary condition for the valuation of the automotive sector to increase. Historical data shows that years with sales growth corresponded with rising valuations, but there were exceptions in years like 2012 and post-2020 [3]. - The automotive sector's valuation tends to respond approximately three months ahead of sales growth before 2020, and this response time has shortened to about one month post-2020 [3]. 2. **Comparison with 2018**: - The year 2026 is expected to mirror 2018, which also faced declining sales due to policy changes. In 2018, the automotive sector began to decline three months before sales dropped significantly [4][5]. 3. **Impact of Policy Changes**: - The introduction of a 5% purchase tax on new energy vehicles in 2026 and changes in subsidy structures are expected to impact demand negatively [1][2]. 4. **Investment Opportunities**: - The focus for 2026 is on new growth areas, particularly in smart driving technologies. Companies in this sector are seen as undervalued, with many trading below 30x P/E ratios while maintaining decent growth rates [7][8]. 5. **Low Valuation and High Growth Stocks**: - Several companies were highlighted as having strong growth potential while being undervalued, including: - **Mastec**: Estimated 20% growth in 2026 with a P/E of 15-16x [10]. - **Yatong**: Expected 30% growth with a P/E of around 20x [10]. - **Fuyou Glass**: Anticipated 15% growth with a P/E of about 15x [11]. - **Weichai Power**: Projected 15% growth with a similar P/E [11]. 6. **Sector-Specific Insights**: - Companies like **Desay SV** and **Kobota** are expected to see significant revenue growth due to their involvement with major clients like Li Auto and NIO, with projected revenues of 90 billion and 21 billion respectively for Q4 [17][21]. - **Huayang Group** is expected to maintain a growth rate of over 20% in 2026, driven by high-margin products [24]. Other Important but Overlooked Content - The conference also discussed the potential risks associated with rising raw material costs, particularly for companies in the forging sector, which could impact earnings realization [13]. - The importance of technological cycles, including the shift towards electric and smart vehicles, was emphasized as a key driver for future growth in the automotive sector [6][7]. - The discussion included a focus on the competitive landscape, with companies like Fuyou Glass expected to benefit from a more favorable market position as competitors exit [30][31]. Conclusion - The automotive industry is facing challenges due to policy changes and market dynamics, but there are significant investment opportunities in undervalued companies with strong growth potential, particularly in the smart driving and electric vehicle segments. The insights from the conference provide a comprehensive overview of the current state and future outlook of the automotive sector.

| 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 603766 | 降替通用 | 15.97 | 3.23% | 30.83万 | | 4.92 乙 | | 603129 | 春风动力 | 274.00 | 2.93% | 2.02万 | | · 5.47 Z | | 003033 | 征和工业 | 71.13 | 1.11% | 1.90万 | | 1.33亿 | | 301345 | 涛涛车业 | 213.13 | 0.83% | 1.23万 | | 2.59亿 | | 002105 | 信隆健康 | 7.31 | 0.83% | 21.36万 | | 1.56亿 | | 6000099 | 林海股份 | 10.97 | 0.46% | 3.03万 | | 3299.65万 | | 60006899 | 九号公司 | 56.03 | 0.41% | 9.81万 | | 5.48亿 | | 300994 | 久祺股份 | 16.97 | 0.06% | 2.56万 | | 430 ...

Market Overview - The motorcycle and other sectors experienced a slight decline of 0.02% on January 26, with Zhenghe Industrial leading the drop [1] - The Shanghai Composite Index closed at 4132.61, down 0.09%, while the Shenzhen Component Index closed at 14316.64, down 0.85% [1] Stock Performance - Key stocks in the motorcycle sector showed varied performance, with Qianli Technology rising by 4.35% to a closing price of 12.00, while Zhenghe Industrial fell by 4.55% to 70.35 [2][1] - Other notable declines included Taotao Vehicle down 4.20% to 211.38 and Yong'an Xing down 3.92% to 18.63 [2] Trading Volume and Value - Qianli Technology had a trading volume of 957,100 shares, resulting in a transaction value of approximately 1.145 billion [1] - Zhenghe Industrial recorded a trading volume of 22,500 shares with a transaction value of around 160 million [2] Capital Flow Analysis - The motorcycle and other sectors saw a net outflow of 10.85 million from main funds, while retail investors experienced a net outflow of 29.69 million [2] - Conversely, speculative funds recorded a net inflow of 40.55 million [2] Individual Stock Capital Flow - Qianli Technology had a main fund net inflow of 37.42 million, while retail investors saw a net outflow of 42.08 million [3] - Zhenghe Industrial experienced a significant main fund net outflow of 24.62 million, indicating a bearish sentiment [3]

Summary of Key Points from the 2026 Greater China Conference on the Auto Sector Industry Overview - The auto sector is experiencing a cooling in domestic demand while companies are setting ambitious growth targets, leading to a cautious outlook for the near term [1][2] - Key growth drivers identified include overseas expansion and intelligence transformation [1][3] Core Insights and Arguments Growth Projections - A bottom-up analysis indicates a projected 19% growth for the auto sector in 2026, contrasting with nearly zero growth in the market based on top-down forecasts [2] - Companies like LeapMotor are targeting significant growth, aiming to increase sales from 600,000 to 1 million units, primarily through new model launches [2] Overseas Expansion - Recent developments, such as tariff agreements between China and the EU, are expected to facilitate overseas growth for Chinese automakers [3] - Companies like Sinotruk and CFMoto are focusing on expanding their export markets, particularly in Europe and North America [3][36][65] Intelligence Transformation - Companies like Pony AI and WeRide are expanding their robotaxi fleets, with Pony targeting 3,000 units by 2026 [22][26] - The adoption of advanced technologies, such as LiDAR and AI, is expected to drive growth in the intelligence segment of the auto industry [3] Company-Specific Highlights Guangzhou Automobile (GAC) - GAC aims for robust volume growth through new model launches and exports, targeting 200,000-300,000 units overseas in 2026 [7][8] - The company plans to reduce costs by an additional 15% in 2026, building on a 10% reduction achieved in 2025 [9] Great Wall Motor - Management has set a sales target of approximately 1.8 million units for 2026, with a focus on new models and exports [10] - The company anticipates a challenging market environment, with a 10% month-over-month decline in orders noted early in 2026 [11] Nio - Nio expects to achieve non-GAAP breakeven in FY26, supported by a strong cash position of RMB 37 billion [13] - The company plans to launch three new models in 2026 to drive growth [14] Xpeng - Xpeng is focusing on cost optimization and technology leadership, with plans to launch new models in 2026 [16][17] - The company expects international sales to grow significantly, targeting over 20% of total revenue from overseas markets [18] Leapmotor - Leapmotor anticipates weak demand in the mass market but plans to launch new models to enhance competitiveness [19][20] - The company aims for overseas sales of 100,000-150,000 units in 2026, with a significant contribution expected from Europe [21] Pony AI - Pony AI is expanding its robotaxi fleet and expects to achieve breakeven in unit economics in Guangzhou [22][24] WeRide - WeRide plans to expand its robotaxi fleet to 2,000-3,000 units, with a focus on markets in the Middle East and Europe [26][27] Sinotruk - Sinotruk forecasts over 10% volume growth in 2026, primarily driven by truck exports [36] - The company is exploring new export markets, including Brazil and Europe, with plans for an assembly plant in Brazil [37] Loncin Motor - Loncin aims to increase its market share in Europe and is targeting growth in motorcycle exports [39][40] Yadea Group - Yadea expects a decline in the electric two-wheeler market but maintains a growth target of 10% for its sales volume in 2026 [43] Other Important Insights - The overall sentiment in the auto sector is cautious due to rising commodity prices, purchase taxes, and a retreating stimulus environment [4] - Companies focusing on intelligence and export themes are preferred for investment, including BYD, GWM, and Hesai [4] This summary encapsulates the key points discussed during the conference, highlighting the challenges and opportunities within the auto sector as companies navigate a changing market landscape.

Group 1 - The core viewpoint of the article highlights the performance and adjustments of the fund managed by Zhu Shaoxing, with a net asset value of 22.484 billion yuan as of Q4 2025 [1] - The fund's performance during the reporting period shows a return of 1.12% for both the A/B and D classes, while the C class returned 0.91%, compared to a benchmark return of -0.09% across all classes [1][2] - The top ten holdings of the fund include notable companies such as Ningbo Bank, Jerry Holdings, CATL, and Kweichow Moutai, indicating a diversified investment strategy [1][2] Group 2 - Zhu Shaoxing's recent adjustments in the portfolio include a reversal on Zijin Mining, which was sold off in the first half of 2025 and repurchased in the second half, now ranking as the seventh largest holding [2] - The fund has reduced its exposure to the new energy vehicle sector, with companies like Luxshare Precision exiting the top ten holdings, while increasing its stake in CATL [2] - The analysis indicates that the current monetary policy remains accommodative, and the fiscal policy is actively supporting the market, leading to improved investor risk appetite [3] Group 3 - The A-share market is noted to have seen a significant increase in overall valuations, yet it remains within a reasonable range in a long-term cycle, suggesting continued attractiveness of equity assets [3] - The focus on selecting stocks with strong corporate governance and management is emphasized as a strategy for future value creation, aligning with the fund's growth-oriented investment approach [3]