证券代码：603129 证券简称：春风动力 公告编号：2025-004 浙江春风动力股份有限公司 关于调整 2021 年股票期权激励计划及 2022 年股票期权激励计划股票期权行权价格的公告 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。 浙江春风动力股份有限公司（以下简称"公司"）于 2025 年 2 月 6 日召开第 六届董事会第二次会议和第六届监事会第二次会议，审议通过了《关于调整 2021 年股票期权激励计划及 2022 年股票期权激励计划股票期权行权价格的议案》等 议案，同意公司根据 2021 年第三次临时股东大会、2022 年第二次临时股东大会 的授权和公司 2021 年股票期权激励计划（以下简称"《2021 年激励计划》"）、 公司 2022 年股票期权激励计划（以下简称"《2022 年激励计划》"）的有关规定， 对 2021 年股票期权激励计划和 2022 年股票期权激励计划的行权价格进行调整。 具体情况公告如下： 一、2021 年股票期权激励计划已经履行的决策程序和信息披露情况 1、2021 年 10 月 2 ...

一、公司 2021 年股票期权激励计划已经履行的决策程序 1、2021 年 10 月 28 日，公司召开第四届董事会第三十次会议和第四届监事 会第三十次会议，审议通过了《关于<浙江春风动力股份有限公司 2021 年股票期 权激励计划（草案）>及其摘要的议案》《关于<浙江春风动力股份有限公司 2021 年股票期权激励计划实施考核管理办法>的议案》《关于提请股东大会授权董事 鉴于公司 2021 年股票期权激励计划（以下简称"《2021 年激励计划》"）中 29 名激励对象已离职，不再具备激励对象资格。根据《上市公司股权激励管理 办法》（以下简称"《管理办法》"）以及《2021 年激励计划》的相关规定和 2021 年第三次临时股东大会授权，公司董事会对上述激励对象持有的已获授但尚未行 权的合计 3.60 万份股票期权进行注销。 鉴于公司 2022 年股票期权激励计划（以下简称"《2022 年激励计划》"）中 38 名激励对象已离职，不再具备激励对象资格。根据《管理办法》《2022 年激 励计划》的相关规定和 2022 年第二次临时股东大会授权，公司董事会对上述激 励对象持有的已获授但尚未行权的合计 4.06 万份股 ...

上海君澜律师事务所 关于 浙江春风动力股份有限公司 2021 年、2022 年股票期权激励计划 调整行权价格、注销部分股票期权及行权相关事项 之 法律意见书 二〇二五年二月 上海君澜律师事务所 法律意见书 上海君澜律师事务所 关于浙江春风动力股份有限公司 2021 年、2022 年股票期权激励计划 调整行权价格、注销部分股票期权及行权相关事项之 法律意见书 致：浙江春风动力股份有限公司 上海君澜律师事务所（以下简称"本所"）接受浙江春风动力股份有限公司（以 下简称"公司"或"春风动力"）的委托，根据《上市公司股权激励管理办法》（以下 简称"《管理办法》"）《浙江春风动力股份有限公司 2021 年股票期权激励计划》（以下 简称"《2021 年激励计划》"）及《浙江春风动力股份有限公司 2022 年股票期权激励计 划》（以下简称"《2022 年激励计划》"）的规定，就春风动力上述两期激励计划调整 行权价格、注销部分股票期权及行权相关事项（以下合称"本次调整、注销及行权"） 出具本法律意见书。 对本法律意见书，本所律师声明如下： （一）本所律师依据《中华人民共和国证券法》《律师事务所从事证券法律业务管 理办法》和《 ...

一、2022 年及 2023 年员工持股计划基本情况 证券代码：603129 证券简称：春风动力 公告编号：2025-007 浙江春风动力股份有限公司 关于 2022 年及 2023 年员工持股计划股票出售完毕 暨终止的公告 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。 浙江春风动力股份有限公司（以下简称"公司"）2022 年及 2023 年员工持股 计划所持有的公司股票已全部出售完毕。根据《关于上市公司实施员工持股计划 试点的指导意见》、《上海证券交易所上市公司自律监管指引第 1 号——规范运 作》等有关规定的要求，现将公司 2022 年及 2023 年员工持股计划相关情况公告 如下： 2025 年 2 月 7 日 公司分别于 2021 年 10 月 28 日、2021 年 11 月 22 日召开第四届董事会第三 十次会议和 2021 年第三次临时股东大会，审议通过了《关于<浙江春风动力股份 有限公司 2022 年至 2024 年员工持股计划（草案）>及其摘要的议案》，并于 2023 年 4 月 11 日召开第五届董事会第 ...

证券代码：603129 证券简称：春风动力 公告编号：2025-003 浙江春风动力股份有限公司 本公司监事会及全体监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。 第六届监事会第二次会议决议公告 一、监事会会议召开情况 浙江春风动力股份有限公司（以下简称"公司"）全体监事同意豁免会议通知 时间要求，第六届监事会第二次会议的会议通知于 2025 年 2 月 6 日以通讯方式 发出，会议于 2025 年 2 月 6 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余杭经济开发区绿洲路 16 号），现场会议时间：2025 年 2 月 6 日 17:00 时】。会议应出席监事 3 名， 实际出席监事 3 名，本次会议由监事会主席钱朱熙女士主持。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》"）、《公 司章程》等有关法律、法规的规定。 二、监事会会议审议情况 会议以记名和书面的方式，审议了如下议案： （一）审议通过《关于调整 2021 年股票期权激励计划及 2022 年 ...

证券代码：603129 证券简称：春风动力 公告编号：2025-002 浙江春风动力股份有限公司 第六届董事会第二次会议决议公告 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"）全体董事同意豁免会议通知 时间要求，第六届董事会第二次会议的会议通知于 2025 年 2 月 6 日以通讯方式 发出，会议于 2025 年 2 月 6 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余杭经济开发区绿洲路 16 号），现场会议时间：2025 年 2 月 6 日 16:00 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》"）、《公司章程》 等有关法律、法规的规定。 二、董事会会议审议情况 表决结果为：9 票同意，0 票反对，0 票弃权，0 票回避。 （二）审议通过《关于注销 2021 年股票期权激励计划第三 ...

Investment Rating - The investment rating for Chunfeng Power (603129.SH) is not explicitly stated in the provided documents, but the report indicates a positive outlook based on performance metrics and market position. Core Viewpoints - Chunfeng Power expects a significant increase in net profit for 2024, projecting a range of CNY 1.42 billion to CNY 1.56 billion, representing a year-on-year growth of 40.9% to 54.8% [2][4] - The company is leading in the large-displacement motorcycle market, with a projected sales volume of 83,000 units for motorcycles over 250cc in 2024, and it ranks first in the 200cc and above segment with 114,000 units registered [4] - Chunfeng Power has accelerated its global expansion, covering over 100 countries and regions, with a significant presence in the all-terrain vehicle (ATV) market, maintaining the top market share in Europe for over a decade [4] Summary by Sections Financial Performance - The total revenue for Chunfeng Power is projected to reach CNY 15 billion in 2024, with a year-on-year growth rate of 24% [5] - The net profit attributable to the parent company is expected to be CNY 1.6 billion in 2024, with a growth rate of 54.7% [5] - The gross profit margin is forecasted to be 32.2% in 2024, slightly decreasing from 33.5% in 2023 [5] Market Position - The company is experiencing strong growth in the large-displacement motorcycle segment, with a year-on-year increase in production and sales of 49.7% and 43.0%, respectively [4] - Chunfeng Power's ATV exports accounted for 71.75% of its total product exports in the first half of 2024, indicating robust international demand [4] Profit Forecast - The projected net profits for Chunfeng Power from 2024 to 2026 are CNY 1.6 billion, CNY 1.9 billion, and CNY 2.2 billion, respectively, with corresponding EPS of CNY 10.29, CNY 12.46, and CNY 14.57 [4][5]

Investment Rating - The report maintains a "Recommended" rating for the company, indicating an expected relative price increase of over 15% compared to the benchmark index [5][10]. Core Insights - The company is projected to achieve a net profit attributable to shareholders of 14.2 to 15.6 billion yuan in 2024, representing a year-on-year increase of 40.9% to 54.8% [1]. - The fourth quarter of 2024 is expected to see a net profit of 3.4 to 4.8 billion yuan, with a year-on-year growth of 98.7% [1]. - The motorcycle business is experiencing significant growth, with a projected sales volume of 81,000 units in Q4 2024, a year-on-year increase of 100.6% [1]. - The company is expanding its product matrix in the all-terrain vehicle segment, with new high-end products expected to drive sales growth [2]. - A stock option incentive plan has been introduced to attract and retain key talent, which is crucial for the company's long-term development [3]. Summary by Sections Financial Performance - The company forecasts a revenue of 15.3 billion yuan for 2024, with a growth rate of 26.2% compared to 2023 [4]. - The net profit for 2024 is expected to be 1.48 billion yuan, reflecting a growth rate of 46.9% [4]. - Earnings per share (EPS) are projected to be 9.78 yuan for 2024, with a price-to-earnings (PE) ratio of 19 [4]. Market Position - The company is leading the domestic market in the mid-to-large displacement motorcycle segment, with a market share of 19.8% in 2024, up by 4.6 percentage points from 2023 [2]. - The all-terrain vehicle segment is also showing strong performance, with a total sales volume of 175,000 units in 2024, a year-on-year increase of 28.8% [2]. Growth Strategy - The company is focusing on high-end product development and expanding its international market presence, particularly in North America [2]. - The stock option plan aims to align the interests of key personnel with the company's long-term goals, enhancing overall performance [3].

Investment Rating - The report maintains a "Buy" rating for Chuncheng Power (603129.SH) [2][8] Core Views - The company is expected to achieve a significant increase in net profit for 2024, with estimates ranging from 1.42 to 1.56 billion yuan, representing a year-on-year growth of 40.94% to 54.84% [3] - The fourth quarter of 2024 is projected to see a net profit of 340 to 480 million yuan, reflecting a year-on-year increase of 64.2% to 132.3% [3][7] - The four-wheeled vehicle segment is expected to outperform due to new product launches, with Q4 sales reaching 56,000 units, a year-on-year increase of 83% [4] - The two-wheeled fuel vehicle segment is experiencing rapid export growth, with Q4 sales of 55,000 units, up 46% year-on-year, and exports reaching 37,000 units, up 73% year-on-year [5] - The electric two-wheeler brand "Jiku" is continuing to expand, with Q4 sales of 26,000 units, an 8.6% increase from the previous quarter [6] Financial Summary - The company has revised its profit forecasts for 2024-2026, now expecting net profits of 1.46 billion, 1.83 billion, and 2.20 billion yuan respectively, with year-on-year growth rates of 45%, 25%, and 20% [8] - The projected P/E ratios for 2024, 2025, and 2026 are 19x, 16x, and 13x respectively [8] - Revenue for 2024 is expected to reach 15.83 billion yuan, with a growth rate of 31% [9] - The company’s operating income for 2023 was 12.11 billion yuan, with a net profit of 1.01 billion yuan [9] Market Position and Outlook - The company is well-positioned for growth in the overseas market, benefiting from a strong product lineup and improved production capacity [8] - The report highlights the potential for continued rapid growth in exports, particularly in the two-wheeled vehicle segment [5][8] - The company is expected to maintain a high degree of earnings realization, supported by a solid overseas production layout [8]

Financial Performance Forecast - The company expects a net profit attributable to shareholders for 2024 to be between CNY 1,420 million and CNY 1,560 million, an increase of CNY 412.48 million to CNY 552.48 million compared to the previous year, representing a year-on-year growth of 40.94% to 54.84%[2] - The expected net profit attributable to shareholders after deducting non-recurring gains and losses is projected to be between CNY 1,392 million and CNY 1,528 million, an increase of CNY 421.46 million to CNY 557.46 million compared to the previous year, reflecting a year-on-year increase of 43.43% to 57.44%[5] - The previous year's net profit attributable to shareholders was CNY 1,007.52 million, with a total profit of CNY 1,191.39 million[7] - The expected earnings per share for the previous year was CNY 6.70[8] Strategic Initiatives - The company has implemented a global strategy, enhancing market share through precise market positioning, diverse product lines, and effective marketing strategies[9] - The company has strengthened production efficiency and cost management, leading to steady growth in sales and profits[9] Non-Recurring Items - Non-recurring gains and losses are expected to impact the performance by CNY 28 million to CNY 32 million, primarily from government subsidies received during the period[10] Financial Data Integrity - The earnings forecast is based on preliminary calculations by the company's finance department and has not yet been audited by certified public accountants[6] - The company emphasizes the importance of accurate financial data, which will be confirmed in the audited annual report for 2024[13] - The company does not foresee any significant uncertainties that could affect the accuracy of this earnings forecast[11]