浙江春风动力股份有限公司章程 浙江春风动力股份有限公司 章 程 二〇二五年五月 1 | 第一章 | 总则 | 3 | 第二章 | 经营宗旨和范围 | 4 | | --- | --- | --- | --- | --- | --- | | 第四章 | 股东和股东大会 | 9 | | | | | 第十二章 | 附则 | 40 | | | | 浙江春风动力股份有限公司章程 第一章 总则 第一条 为维护公司、股东和债权人的合法权益，规范公司的组织和行为， 根据《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》）、《上市公司章程指引（2016 年修订）》和其他有关 规定，制订本章程。 第二条 浙江春风动力股份有限公司（以下简称"公司"）系依照《公司法》 成立的股份有限公司。公司系由春风控股集团杭州摩托车制造有限公司整体变更设 立的股份有限公司，在浙江省市场监督管理局注册登记，并取得《营业执照》，统 一社会信用代码为 91330100757206158J。 第三条 公司于 2017 年 7 月 21 日经中国证券监督管理委员会核准，首次向 社会公众发行人民币普通股 3,333. ...

证券代码：603129 证券简称：春风动力 公告编号：2025-043 浙江春风动力股份有限公司 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。 2025 年 2 月 6 日，浙江春风动力股份有限公司（以下简称"公司"）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 2021 年股票期权激励计划第三个行权期和 2022 年股票期权激励计划第二个行权期符 合行权条件的议案》，确认 2021 年股票期权激励计划第三个行权期的行权条件 已经成就，可行权人数为 556 人，可行权的股票期权数量为 76.72 万份；确认 2022 年股票期权激励计划第二个行权期的行权条件已经成就，可行权人数为 416 人， 可行权的股票期权数量为 38.25 万份。 根据立信会计师事务所（特殊普通合伙）出具的《验资报告》（信会师报字 [2025]第 ZF10023）和《验资报告》（信会师报字[2025]第 ZF10024），截至 2025 年 2 月 13 日止，公司 2021 年股票期权激励计划第三个行权期股票激励对象实际 行 ...

Investment Rating - The report maintains a positive investment rating for the automotive and automotive parts industry [5] Core Insights - Strong demand for unmanned delivery and accelerated application of L4 scenarios are driving the industry forward [2][10] - The automotive sector underperformed the market recently, with a decline of 2.90% in the A-share automotive sector [44] - Key companies to focus on include Geely, BYD, Xiaopeng Motors, Xiaomi Group, Berteli, Top Group, and others [2][24] Summary by Sections 1. Unmanned Delivery Demand - The demand for unmanned delivery is driven by labor shortages and cost pressures, with express delivery volume expected to grow at a CAGR of 22.5% from 2019 to 2024 [2][10] - The penetration rate of L2+ vehicles is projected to exceed 90% by 2030, leading to a cost revolution in the supply chain [2][12] - Policy support is enhancing the deployment of low-speed unmanned vehicles, with over 100 cities expected to open road rights by 2025 [2][22] 2. Passenger Vehicles - The report highlights the importance of intelligent and globalized breakthroughs in quality autonomous vehicle manufacturers [24] - The continuation of vehicle replacement policies is expected to stimulate domestic demand [24][54] 3. Robotics - The report sees a rapid acceleration in the industrialization of robotics, particularly humanoid robots, which are expected to transform production and lifestyle [29][31] - Key players in the robotics field include Tesla, NVIDIA, and Huawei, with significant advancements anticipated in 2025 [31][33] 4. Motorcycles - The market for large-displacement motorcycles is expanding, with a notable increase in sales and exports [36][37] - Recommended companies in this sector include Chunfeng Power, which is a leading player in the large-displacement motorcycle market [37] 5. Heavy Trucks - The heavy truck market is expected to recover due to expanded vehicle replacement subsidies, with a focus on low-emission vehicles [38][39] - Recommended companies include China National Heavy Duty Truck Group and Weichai Power [39] 6. Tires - The tire industry is experiencing growth driven by high demand and the expansion of global operations [40][42] - Recommended companies include Sailun Tire and high-growth firms like Senkiren [42]

Data Summary - In the week of May 19-25, 2025, passenger car sales reached 399,000 units, up 12.1% year-on-year and 2.6% month-on-month; new energy vehicle sales were 222,000 units, up 20.4% year-on-year and 2.0% month-on-month; new energy penetration rate was 55.4%, down 0.4% month-on-month [1][48]. Market Performance - The automotive sector underperformed the market in the week of May 26-30, 2025, with a decline of 2.90%, ranking 30th among sub-industries, compared to the CSI 300's decline of 1.49%. Among sub-sectors, automotive services rose by 2.13%, while passenger cars fell by 5.59% [2][45]. Investment Recommendations - The core investment focus includes companies such as Geely Auto, BYD, Xpeng Motors, and Xiaomi Group, with a recommendation to pay attention to Berteli and Top Group [3][23]. Autonomous Delivery Demand - Strong demand for autonomous delivery is driven by labor shortages and cost pressures, with the express delivery business volume growing at a CAGR of 22.5% over five years, while the number of couriers only grew at 1.4%. The last mile of delivery accounts for 60% of logistics costs, and automation can significantly reduce these costs [4][21]. Supply Chain Developments - The cost revolution in core components is driven by technological scaling, with the average price of lidar dropping from 22,500 to 2,600 yuan, and the price of autonomous delivery vehicles decreasing from around 500,000 to 20,000 yuan [12][21]. Policy Support - The opening of road rights is expected to accelerate the deployment of low-speed autonomous vehicles, with pilot programs set to deploy at least 200 vehicles in various cities by 2025 [18][19]. Robotics Industry Acceleration - The robotics industry is witnessing rapid advancements, with companies like ZhiYuan Robotics and Figure making significant progress in humanoid robots. The integration of AI and advanced manufacturing technologies is expected to reshape production and lifestyle [5][27]. Motorcycle Market Insights - The motorcycle market is experiencing growth, with sales of 250cc and above motorcycles reaching 93,000 units in April 2025, up 28.0% year-on-year. The leading company, Chunfeng Power, holds a market share of 24.1% [35][36]. Heavy Truck Market - The heavy truck market is expected to recover due to expanded subsidies for replacing old vehicles, with sales in April 2025 reaching 87,700 units, up 6.5% year-on-year. The new subsidy policy is anticipated to stimulate demand significantly [38][39]. Tire Industry Outlook - The tire industry is benefiting from high demand and low valuations, with a focus on leading companies and high-growth potential firms. The global expansion of tire manufacturers is expected to enhance competitiveness [41][42].

Group 1 - The core point of the article is that the current dividend distribution season has seen 90 companies implementing their distribution plans, with a total of 3,671 companies proposing distribution plans for the 2024 fiscal year, reflecting a strong emphasis on cash dividends from listed companies [1][2] - In the 2024 distribution plans, 3,666 companies included cash dividends, amounting to a total cash distribution of 1.64 trillion yuan, while 346 companies included stock transfers [1] - Important dates for investors focusing on dividends are the ex-dividend date and the record date, with 578 companies having already implemented their distribution plans [1] Group 2 - Among the companies with record dates today, 60 companies are distributing cash dividends of 1 yuan (including tax) or more per 10 shares, with Spring Wind Power being the most generous, distributing 38.50 yuan per 10 shares [1][2] - The highest stock transfer ratio among the companies with record dates today is from Tongxing Technology, which has a distribution plan of 10 shares transferred for every 4.5 shares and a cash distribution of 2.5 yuan [2] - The stock performance of companies with record dates today shows that Zhengzhong Design has the highest increase over the past five days, with a cumulative increase of 22.78% [2]

Investment Rating - The report assigns a "Buy" rating to Ninebot and CFMoto, indicating a positive outlook for both companies in the two-wheeler sector [5][34]. Core Insights - The two-wheeler sector is facing challenges due to US tariff hikes, with companies like Taotao and Greenworks having significant revenue exposure to the US market [2][3]. - Companies are proactively building inventories in the US to mitigate the impact of tariffs, which has led to high revenue growth and margins in early 2025 [3][4]. - Despite the tariff challenges, businesses expect flat or slightly higher revenue in the US market for 2025, driven by channel restocking and capacity relocation [4]. Summary by Relevant Sections Revenue Exposure and Tariff Impact - Taotao and Greenworks have 70-80% revenue exposure to the US, while CFMoto has 30% and Ninebot less than 10% [2]. - Current US tariffs on Chinese exports range from 40-60%, prompting companies to relocate capacity to regions with lower tariffs, such as Southeast Asia and Mexico [3]. Company-Specific Outlook - Ninebot anticipates ongoing growth across its business lines, with a revenue target of Rmb40 billion by 2027, including significant contributions from electric two-wheelers and lawnmowers [7][8]. - CFMoto plans to ramp up production in Mexico and Thailand to address tariff impacts, expecting US ORV revenue to remain flat or slightly increase in 2025 [10]. Market Trends and Future Projections - The competitive landscape may improve as smaller competitors exit the market due to tariff pressures, allowing stronger companies to gain market share [4]. - Greenworks sees a growing trend in lithium battery-powered lawnmowers, with potential for significant market expansion in the coming years [12].

证券代码：603129 证券简称：春风动力 公告编号：2025-042 一、 通过分配方案的股东大会届次和日期 本次利润分配方案经公司2025 年 5 月 7 日的2024年年度股东大会审议通过。 二、 分配方案 截至股权登记日下午上海证券交易所收市后，在中国证券登记结算有限责任公司上海分 公司（以下简称"中国结算上海分公司"）登记在册的本公司全体股东。 浙江春风动力股份有限公司2024年年度权益分派实施公告 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法律责任。 重要内容提示： ? 每股分配比例 A 股每股现金红利3.85元 ? 相关日期 | 股份类别 | 股权登记日 | | 最后交易日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | --- | --- | --- | | A股 | 2025/5/26 | － | 2025/5/27 | 2025/5/27 | | ? 差异化分红送转： 否 本次利润分配以方案实施前的公司总股本152,577,663股为基数，每股派发现金红利3.85 元（含税） ， ...

差异化分红送转： 否 证券代码：603129 证券简称：春风动力 公告编号：2025-042 浙江春风动力股份有限公司2024年年度权益分派实施公告 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法律责任。 重要内容提示： 每股分配比例 A 股每股现金红利3.85元 相关日期 | 股份类别 | 股权登记日 | 最后交易日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | --- | --- | | A 股 | 2025/5/26 | － | 2025/5/27 | 2025/5/27 | 一、 通过分配方案的股东大会届次和日期 本次利润分配方案经公司2025 年 5 月 7 日的2024年年度股东大会审议通过。 二、 分配方案 截至股权登记日下午上海证券交易所收市后，在中国证券登记结算有限责任公司上海分 公司（以下简称"中国结算上海分公司"）登记在册的本公司全体股东。 3. 分配方案： 本次利润分配以方案实施前的公司总股本152,577,663股为基数，每股派发现金红利3.85 元（含税），共计派发现金红 ...

Investment Rating - The report maintains a "Buy" rating for the motorcycle industry, particularly recommending companies such as Chuanfeng Power, Longxin General, and Qianjiang Motorcycle [5][15]. Core Insights - The motorcycle industry is experiencing significant growth, with April 2025 sales for motorcycles over 250cc reaching 93,000 units, a year-on-year increase of 28.0% and a month-on-month increase of 5.6%. Cumulative sales from January to April 2025 reached 298,000 units, up 58.3% year-on-year [3][4]. - The report highlights strong performance in the 500cc+ segment, with notable increases in sales and market share for leading companies, driven by new model launches and export growth [5][15]. - The competitive landscape shows that leading companies like Chuanfeng Power, Qianjiang Motorcycle, and Longxin General are solidifying their market shares, with a combined market share of 52.9% for the top three companies in April 2025 [6][8]. Summary by Sections Sales Performance - In April 2025, sales of motorcycles over 125cc reached 786,000 units, a year-on-year increase of 24.2% and a month-on-month increase of 10.5%. The growth was primarily driven by the 125-150cc and 500-800cc segments [4]. - The export of motorcycles over 250cc in April 2025 was 39,000 units, a year-on-year increase of 23.4%, while domestic sales reached 54,000 units, up 31.6% year-on-year [4]. Market Structure - The report indicates robust growth in the 500cc+ motorcycle segment, with April sales showing a year-on-year increase of 106.6% for models in the 500cc-800cc range [5]. - The 800cc+ segment saw a remarkable year-on-year increase of 179.2% in April 2025, indicating a strong demand for high-performance motorcycles [5]. Competitive Landscape - Chuanfeng Power led the market with a 24.1% share in April 2025, followed by Qianjiang Motorcycle at 16.2% and Longxin General at 12.7% [6][8]. - The report notes that Chuanfeng Power's total motorcycle sales in April 2025 reached 56,000 units, a year-on-year increase of 108.1% [9]. Future Outlook - The motorcycle industry is expected to continue its upward trajectory in 2025, driven by new model launches and an expanding export market. The report anticipates sustained high growth rates for leading companies [11][15].

Core Viewpoint - The motorcycle industry is experiencing significant growth in sales, particularly in the mid-to-large displacement segment, driven by strong domestic demand and export performance [2][12]. Industry Overview - April sales for motorcycles above 125cc reached 786,000 units, a year-on-year increase of 24.2% and a month-on-month increase of 10.5%, with notable contributions from 125-150cc and 500-800cc segments [2]. - The 250cc and above segment saw sales of 93,000 units in April, up 28.0% year-on-year and 5.6% month-on-month, marking a historical high [2][3]. - Cumulative sales from January to April for 250cc and above motorcycles reached 298,000 units, reflecting a year-on-year increase of 58.3% [2]. Structural Insights - The 500cc and above displacement models are experiencing robust growth, with April sales of 7,000 units, a staggering year-on-year increase of 436.0% [5]. - The overall mid-to-large displacement motorcycle sales continue to maintain high growth rates, with strong domestic performance as the peak season approaches [3]. Competitive Landscape - The top three companies in the 250cc and above segment in April were Chunfeng Power, Qianjiang Motorcycle, and Longxin General, with a combined market share of 52.9% [4]. - Chunfeng Power's total two-wheeler sales in April reached 56,000 units, a year-on-year increase of 108.1% [4]. - Qianjiang Motorcycle's April sales were 35,000 units, down 12.4% year-on-year, while Longxin General reported sales of 145,000 units, up 9.6% year-on-year [7][11]. Future Outlook - Chunfeng Power is focusing on new models in the 450cc and 650cc categories, which are expected to drive sales growth [6]. - The export market for motorcycles is anticipated to maintain high growth rates, with significant increases in export volumes projected for 2025 [6][14]. - The mid-to-large displacement motorcycle market is expected to expand rapidly, with domestic brands likely to benefit the most from the rising demand [12].