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。 证券代码：603129 证券简称：春风动力 公告编号：2025-068 浙江春风动力股份有限公司 关于 2025 年员工持股计划的进展公告 截至本公告日，公司 2025 年员工持股计划尚未开始购买公司股票。 公司将持续关注 2025 年员工持股计划的实施进展情况，并按照相关法律法 规的规定及时履行信息披露义务。敬请广大投资者注意投资风险。 特此公告。 浙江春风动力股份有限公司 董事会 浙江春风动力股份有限公司（以下简称"公司"）分别于 2024 年 8 月 6 日、 2024年9月2日召开第五届董事会第十六次会议和2024年第一次临时股东大会， 审议通过了《关于<浙江春风动力股份有限公司 2025 年至 2026 年员工持股计划 （草案）>及其摘要的议案》，同意公司在 2025 年-2026 年内滚动设立两期各自 独立存续的员工持股计划，后续各期持股计划的实施授权董事会审议。具体内容 详见公司于 2024 年 8 月 7 日、2024 年 9 月 3 日在上海证券交易所网站及指定 ...

Core Insights - The success path of Honda Motor demonstrates that motorcycle companies need to simultaneously build a "technology moat + product excellence + cultural adaptability" for global expansion [1][4] - Domestic motorcycle companies like Chunfeng Power, Longxin General, and Qianjiang Motorcycle are exploring different paths for globalization, with expectations of exporting over 500,000 mid-to-large displacement motorcycles by 2025, a year-on-year increase of 50.4% [1][4] Product Dimension - Honda Motorcycle has consistently been at the forefront of global motorcycle technology and market evolution, achieving significant growth through popular models [2] - The Super Cub series has doubled global sales in ten years due to low fuel consumption and high durability, while the Gold Wing series has enhanced high-end product profit margins [2] Strategic Dimension - Honda Motorcycle leverages a combination of "performance leadership + cost control" to confidently promote products in broader international markets [3] - The company employs a phased, regionally differentiated strategy to build a global operating system, taking advantage of lower labor costs in Japan compared to Western competitors [3] Empowering Domestic Companies - The experience of Honda Motorcycle serves as a reference for domestic motorcycle companies in their global expansion efforts [4] - Domestic companies are gradually shifting from "manufacturing export" to "system output," focusing on mid-to-large displacement product platforms and brand cultural narratives [4] Investment Recommendations - The overseas mid-to-large displacement market presents significant opportunities with relatively mild competition [5] - Domestic leaders like Chunfeng Power, Longxin General, and Qianjiang Motorcycle are expected to achieve rapid market share expansion driven by product strength and global strategies [5]

Core Viewpoint - Zhejiang Chunfeng Power Co., Ltd. has approved a guarantee for its overseas subsidiary CFMOTO MEXICO STRUCTURAL TECHNOLOGIES, S.A. DE C.V. to lease an industrial facility, with a guarantee amount not exceeding 7 million USD [3][8][19]. Group 1: Board Meeting Details - The sixth board meeting of Zhejiang Chunfeng Power was held on September 9, 2025, with all 9 directors present, and the meeting procedures complied with relevant laws and regulations [2][4]. - The board unanimously approved the proposal to provide a performance guarantee for the overseas subsidiary [4][19]. Group 2: Guarantee Details - The guarantee amount is capped at 7 million USD, and as of the announcement date, no guarantees have been previously provided for this subsidiary [8][20]. - The guarantee does not require a counter-guarantee from the subsidiary, and there are no overdue guarantees reported [9][20]. Group 3: Subsidiary Information - CFMOTO MEXICO STRUCTURAL TECHNOLOGIES, S.A. DE C.V. is a newly established subsidiary with a registered capital of 50,505 pesos, focusing on the design, manufacturing, and sales of all-terrain vehicle parts [11][12]. - The company holds a 99% stake in the subsidiary through a wholly-owned subsidiary and a 1% stake through another subsidiary [13]. Group 4: Risk Management - The company acknowledges potential risks associated with the overseas manufacturing base, including market environment and policy changes, but emphasizes its project management experience and proactive measures to mitigate these risks [14]. - The board believes that providing the guarantee is necessary for the subsidiary to successfully lease the facility and conduct production activities [19].

Core Points - The company announced that its sixth board of directors held its tenth meeting on September 9, where it approved a proposal to provide performance guarantees for the leasing of industrial plants to its overseas subsidiary [2] Group 1 - The board meeting was focused on the proposal related to the overseas subsidiary [2] - The decision reflects the company's commitment to supporting its international operations [2]

Group 1 - The core point of the article is that Chuncheng Power (SH 603129) held its 10th meeting of the 6th Board of Directors on September 9, 2025, to discuss various proposals, including providing performance guarantees for the leasing of industrial plants to overseas subsidiaries [1] - For the fiscal year 2024, Chuncheng Power's revenue composition is as follows: motorcycles account for 97.62% and other businesses account for 2.38% [1] - As of the time of reporting, Chuncheng Power has a market capitalization of 41.4 billion yuan [1]

证券代码：603129 证券简称：春风动力 公告编号：2025-067 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： 浙江春风动力股份有限公司（以下简称"公司"）已在墨西哥完成设立孙公 司 CFMOTO MEXICO STRUCTURAL TECHNOLOGIES, S.A. DE C.V（. 以下简称 "CFMS"）。为进一步完善和提升海外现地化配套能力，扩大现地化率，公司拟 通过 CFMS 与 WALTON 3 FIDEICOMISO INDUSTRIAL WV I CIB/3676（以下简 称"出租方"）签订厂房租赁协议。租赁协议签署后，公司拟与出租方签订担保 协议，为 CFMS 提供租赁履约担保，具体情况如下： 一、担保情况概述 （一）担保基本情况 为进一步完善和提升海外现地化配套能力，扩大现地化率，公司拟通过 CFMS 与出租方签订厂房租赁协议。根据墨西哥国政策及 CFMS 的业务需求，公 司拟与出租方签订厂房租赁的担保协议， ...

证券代码：603129 证券简称：春风动力 公告编号：2025-066 浙江春风动力股份有限公司 第六届董事会第十次会议决议公告 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。 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 STRUCTURAL TECHNOLOGIES, S.A. 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》。 一、董事会会议召开情况 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（以下简称"公司"）第六届董事会第十次会议 的会议通知已于 2025 年 9 月 9 日以通讯方式发出，并于 2 ...

Market Performance - The motorcycle and other sectors increased by 2.61% on September 5, with Huafang Racing leading the gains [1] - The Shanghai Composite Index closed at 3812.51, up 1.24%, while the Shenzhen Component Index closed at 12590.56, up 3.89% [1] Stock Performance - Huafang Racing (834058) saw a significant rise of 29.98%, closing at 48.52 with a trading volume of 68,000 shares and a turnover of 327 million yuan [1] - Taotao Vehicle (301345) increased by 8.22%, closing at 199.50 with a trading volume of 26,200 shares and a turnover of 514 million yuan [1] - Other notable performers include Jiang Kui General (603766) up 5.05%, Yong'an Xing (603776) up 4.38%, and Lvtong Technology (301322) up 3.59% [1] Capital Flow - The motorcycle and other sectors experienced a net inflow of 124 million yuan from main funds, while retail funds saw a net outflow of 106 million yuan [1] - Specific stocks like Aima Technology (603529) had a main fund net inflow of 56.95 million yuan, while retail funds showed a net outflow of 27.17 million yuan [2] - Jiang Xin General (603766) also had a main fund net inflow of 27.81 million yuan, with retail funds experiencing a net outflow of 17.87 million yuan [2]

Market Overview - On September 3, the motorcycle and other sectors fell by 0.9%, with Jiuyi Co. leading the decline [1] - The Shanghai Composite Index closed at 3813.56, down 1.16%, while the Shenzhen Component Index closed at 12472.0, down 0.65% [1] Stock Performance - Notable stock performances included: - Zhenghe Industrial: Closed at 46.80, up 1.83% with a trading volume of 31,600 shares and a turnover of 148 million yuan [1] - Taotao Vehicle: Closed at 187.20, up 1.07% with a trading volume of 15,800 shares [1] - Qianjiang Motorcycle: Closed at 16.89, up 0.84% with a trading volume of 154,700 shares and a turnover of 264 million yuan [1] - Jiuyi Co.: Closed at 69.83, up 0.47% with a trading volume of 185,800 shares and a turnover of 1.311 billion yuan [1] - Chuncheng Power: Closed at 262.50, down 0.89% with a trading volume of 11,000 shares [1] - Jiuyi Co. (Jiuyi Co. in another context): Closed at 18.92, down 6.57% with a trading volume of 121,700 shares and a turnover of 237 million yuan [2] Capital Flow - The motorcycle and other sectors saw a net inflow of 95.96 million yuan from main funds, while retail funds experienced a net outflow of 56.75 million yuan [2] - The capital flow for specific stocks included: - Jiuyi Co.: Main funds net inflow of 98.78 million yuan, retail funds net outflow of 51.21 million yuan [3] - Qianjiang Motorcycle: Main funds net inflow of 17.53 million yuan, retail funds net outflow of 32.57 million yuan [3] - Zhenghe Industrial: Main funds net inflow of 12.27 million yuan, retail funds net outflow of 10.68 million yuan [3]

Core Viewpoint - The power sports industry is in a growth phase driven by consumption upgrades and increased demand for leisure and entertainment, particularly benefiting all-terrain vehicles and large-displacement motorcycles [1] Industry Summary - The all-terrain vehicle and large-displacement motorcycle segments are experiencing increased penetration in the market due to rising consumer demand [1] - Chinese motorcycle companies have significantly improved product capabilities, showcasing clear cost-performance advantages that position them well to capture overseas market share [1] - Continuous optimization of product structure is leading to sustained increases in market share and profit margins for these companies [1] Company Recommendations - Chosen as a recommended stock is Chunfeng Power (603129.SH), which is expanding from high-end recreational products into the mass transportation sector, particularly in the all-terrain vehicle export market [1] - Another recommended company is Taotao Vehicle (301375.SZ), recognized for its strong brand in golf carts and emerging presence in humanoid robotics [1] - Attention is also drawn to Longxin General (603766.SH) and other Chinese motorcycle export companies as potential investment opportunities [1]