| 证券代码：603179 | 证券简称：新泉股份 | | 公告编号：2025-028 | | --- | --- | --- | --- | | 债券代码：113675 | 债券简称：新 | 23 | 转债 | 江苏新泉汽车饰件股份有限公司 可转债转股结果暨股份变动公告 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： 累计转股情况：截至 2025 年 6 月 30 日，累计已有人民币 94,000 元新 23 转债已转换为公司股票，累计转股数为 1,825 股，占新 23 转债转股前公司已 发行股份总额的 0.0004%。 未转股可转债情况：截至 2025 年 6 月 30 日，尚未转股的新 23 转债金额 为人民币 1,159,906,000 元，占新 23 转债发行总量的比例为 99.9919%。 本季度转股情况：自 2025 年 4 月 1 日至 2025 年 6 月 30 日期间，新 23 转债未发生转股情况。 一、可转债发行上市概况 1 1、公司于 2024 年 6 月 27 日实施 2023 年年 ...

| | | 江苏新泉汽车饰件股份有限公司 关于募投项目结项并注销募集资金专项账户的公告 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。 三、本次结项的募投项目募集资金使用及结余情况 江苏新泉汽车饰件股份有限公司（以下简称"公司"）向不特定对象发行可 转换公司债券募集资金投资项目（以下简称"募投项目"）"上海智能制造基地升 级扩建项目（一期）"已完成建设并投产，公司对该募投项目进行结项，并注销 募集资金专项账户。现将相关情况公告如下： 一、向不特定对象发行可转换公司债券募集资金基本情况 根据中国证券监督管理委员会《关于同意江苏新泉汽车饰件股份有限公司向 不特定对象发行可转换公司债券注册的批复》（证监许可〔2023〕1601 号），公 司于 2023 年 8 月 11 日向不特定对象发行 1,160 万张可转换公司债券，每张面值 100 元，期限 6 年，发行总额 1,160,000,000 元，扣除本次发行费用（不含税）人 民币 11,099,675.12 元，实际募集资金净额为人民币 1,148,900,324.88 元。上述 ...

Core Viewpoint - The credit rating for Jiangsu Xinquan Automotive Trim Co., Ltd. and its convertible bond "New 23 Convertible Bond" remains unchanged at "AA-" with a stable outlook [1][2]. Group 1 - Previous bond rating was "AA-" and the issuer rating was also "AA-" with a stable outlook [1]. - The current bond rating is maintained at "AA-" and the issuer rating is also "AA-" with a stable outlook [1]. - The rating agency, United Credit Ratings Co., Ltd., conducted a comprehensive analysis of the company's operational status and related industry [1].

Summary of the Conference Call for Xinquan Co., Ltd. Company Overview - **Company**: Xinquan Co., Ltd. - **Industry**: Automotive components manufacturing Key Points and Arguments Financial Performance - Q1 net profit was 210 million yuan, influenced by one-time factors, but the full-year revenue guidance remains above 17 billion yuan, with an expected net profit of at least 1.4 billion yuan for the year [2][4] - The company anticipates a recovery in net profit margin to over 8% in subsequent quarters [2][4] Growth Drivers - Long-term growth is driven by a "dual helix" strategy: stable domestic core business growth and expansion into overseas markets, particularly with clients like Tesla [2][5] - New business segments such as seating and exterior parts are expected to provide additional growth opportunities [2][6] Impact of Tesla Models - The introduction of Tesla's revised models (Model Y and Model 3) is projected to significantly boost overseas revenue and market share, with the per-vehicle value expected to double [2][7] - The Model 3's reduced version is expected to reach a per-vehicle value of 1,500 USD, with approximately half attributed to seating [7] Operational Performance - The Mexico plant has achieved a monthly output nearing 35 million USD, maintaining a net profit margin of 10% [2][8] - The Slovakia plant is generating monthly output of 8-9 million euros, with expectations to exceed the Mexico plant's net profit margin by Q3 2025 [8] Client Expansion - Besides Tesla, Xinquan is planning a second-phase factory in Slovakia targeting clients like Volkswagen and Volvo, which will contribute to revenue and profit elasticity [9][10] Domestic Market Strategy - Xinquan has acquired a stake in Anhui Ruichi to establish a foothold in the domestic seating market, aiming for a market share of at least one-third with Chery, potentially generating around 4 billion yuan in revenue [12] - The domestic seating business is expected to be consolidated in Q2 2025, with Chery projects ramping up in Q3 [12] Strategic Goals - The "dual hundred" strategy aims for both overseas and seating business revenues to reach 10 billion yuan each, effectively creating at least two new Xinquan entities [3][13] - Profit expectations are set at 1.4 billion yuan for 2025, 1.8 billion yuan for 2026, and potentially over 2.25 billion yuan for 2027 [3][15] Market Challenges - Short-term pressure on Tesla's global sales may impact Xinquan's overseas business, but the overall effect is expected to be limited due to the company's growth strategy [14] Additional Important Information - The company is actively pursuing orders for seating components for the Cybertruck, indicating a broadening of its product offerings in the overseas market [11]

江苏新泉汽车饰件股份有限公司 向不特定对象发行可转换公司债券 2025 年跟踪评级报告 www.lhratings.com 联合〔2025〕5506 号 联合资信评估股份有限公司通过对江苏新泉汽车饰件股份有限 公司主体及其相关债券的信用状况进行跟踪分析和评估，确定维持 江苏新泉汽车饰件股份有限公司主体长期信用等级为 AA-，维持 "新 23 转债"信用等级为 AA-，评级展望为稳定。 特此公告 联合资信评估股份有限公司 评级总监： 二〇二五年六月二十六日 声 明 一、本报告是联合资信基于评级方法和评级程序得出的截至发表之日 的独立意见陈述，未受任何机构或个人影响。评级结论及相关分析为联合 资信基于相关信息和资料对评级对象所发表的前瞻性观点，而非对评级对 象的事实陈述或鉴证意见。联合资信有充分理由保证所出具的评级报告遵 循了真实、客观、公正的原则。鉴于信用评级工作特性及受客观条件影响， 本报告在资料信息获取、评级方法与模型、未来事项预测评估等方面存在 局限性。 二、本报告系联合资信接受江苏新泉汽车饰件股份有限公司（以下简 称"该公司"）委托所出具，除因本次评级事项联合资信与该公司构成评 级委托关系外，联合资信、 ...

关于募投项目结项并注销募集资金专项账户的公告 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。 江苏新泉汽车饰件股份有限公司（以下简称"公司"）非公开发行股票募集 资金投资项目（以下简称"募投项目"）"上海研发中心建设项目"已完成建设并 投入使用，公司对该募投项目进行结项，并注销募集资金专项账户。现将相关情 况公告如下： | 证券代码：603179 | 证券简称：新泉股份 | 公告编号：2025-026 | | --- | --- | --- | | 债券代码：113675 | 债券简称：新 23 转债 | | 一、非公开发行股票募集资金基本情况 江苏新泉汽车饰件股份有限公司 经中国证券监督管理委员会《关于核准江苏新泉汽车饰件股份有限公司非公 开发行股票的批复》（证监许可[2020]2838 号）核准，公司向特定对象非公开发 行人民币普通股（A 股）49,810,515 股，募集资金总额为人民币 1,198,939,096.05 元，扣除本次发行费用（不含税）人民币 11,167,862.72 元，实际募集资金净额 为人民币 1 ...

| 证券代码：603179 | 证券简称：新泉股份 | | | 公告编号：2025-024 | | --- | --- | --- | --- | --- | | 债券代码：113675 | 债券简称：新 | 23 | 转债 | | 江苏新泉汽车饰件股份有限公司 关于通过全资子公司在德国投资设立下属子公司的 1 特此公告。 江苏新泉汽车饰件股份有限公司（以下简称"公司"或"新泉股份"）于 2025 年 1 月 3 日召开第五届董事会第六次会议，审议通过了《关于通过全资子公司在 德国投资设立下属子公司的议案》，同意公司通过全资子公司 XINQUAN INTERNATIONAL DEVELOPMENT SINGAPORE PTE.LTD.（以下简称"新加坡新泉"） 以自有资金 3,600 万欧元在德国慕尼黑投资设立新泉（欧洲）有限公司（具体名 称以注册核准内容为准）（以下简称"新泉（欧洲）"），并由新泉（欧洲）在德国 拜仁州投资 3,000 万欧元设立新泉（拜仁）汽车零部件有限公司（具体名称以注 册核准内容为准）（以下简称"新泉（拜仁）"）。新泉（欧洲）和新泉（拜仁）的 注册资本均为 10 万欧元。投资完成后，新 ...

Group 1 - The company Jiangsu Xinquan Automotive Trim Co., Ltd. has issued convertible bonds totaling up to RMB 1.16 billion, approved by the China Securities Regulatory Commission [2][3][12] - The bonds have a maturity of 6 years, with an interest rate that increases from 0.30% in the first year to 3.00% in the sixth year [3][4][12] - The initial conversion price is set at RMB 51.35 per share, with the current conversion price at RMB 50.75 per share [5][6][12] Group 2 - In 2024, the company reported a revenue of RMB 13.264 billion, a 25.46% increase year-on-year, and a net profit of RMB 977 million, up 21.24% from the previous year [14][15] - Total assets reached RMB 15.912 billion, with total liabilities at RMB 10.259 billion, reflecting an 18.33% increase in assets and a 21.53% increase in liabilities compared to 2023 [14][15] - The company has seen significant growth in cash flow from operating activities, with a net cash flow of RMB 1.293 billion, a 119.19% increase from the previous year [15]

江苏新泉汽车饰件股份有限公司 向不特定对象发行可转换公司债券 受托管理事务报告 二〇二五年六月 （2024 年度） 债券受托管理人 重要声明 本报告依据《公司债券发行与交易管理办法》（以下简称"《管理办法》"）《江 苏新泉汽车饰件股份有限公司 2023 年向不特定对象发行可转换公司债券受托管 理协议》（以下简称"《受托管理协议》"）《江苏新泉汽车饰件股份有限公司向不 特定对象发行可转换公司债券募集说明书》（以下简称"《募集说明书》"）《江苏 新泉汽车饰件股份有限公司 2024 年年度报告》等相关公开信息披露文件、第三 方中介机构出具的专业意见等，由本期债券受托管理人中信建投证券股份有限公 司（以下简称"中信建投证券"）编制。中信建投证券对本报告中所包含的从上 述文件中引述内容和信息未进行独立验证，也不就该等引述内容和信息的真实性、 准确性和完整性做出任何保证或承担任何责任。 证券代码：603179 证券简称：新泉股份 可转债代码：113675 可转债简称：新 23 转债 本报告不构成对投资者进行或不进行某项行为的推荐意见，投资者应对相关 事宜做出独立判断，而不应将本报告中的任何内容据以作为中信建投证券所作的 ...

Investment Rating - The report maintains a positive outlook on the automotive sector, suggesting stock selection to emphasize alpha over beta, with a focus on distinct individual stock characteristics [2]. Core Insights - The automotive sector experienced a slight decline in investment sentiment, with expectations for a rebound in demand towards the end of June due to increased marketing efforts. The industry is anticipated to enter a seasonal lull in July and August, followed by a surge in new product launches and seasonal sales towards the end of the year [2]. - The report highlights the importance of monitoring the impact of policies such as trade-in programs and changes in new energy vehicle purchase taxes on the industry [2]. Data Tracking - In April, wholesale passenger car sales reached 2.22 million units, a year-on-year increase of 11% but a month-on-month decrease of 10%. Retail sales for the same month were 1.59 million units, up 6% year-on-year but down 14% month-on-month [4]. - New energy vehicle deliveries from leading companies showed significant growth in May, with BYD delivering 380,000 units (up 15% year-on-year), and Li Auto and Xpeng also reporting substantial increases [4][19]. - The average discount rate in early June rose to 10.6%, reflecting a 0.4 percentage point increase from the previous period and a 2.9 percentage point increase year-on-year [4]. Market Performance - The automotive sector index fell by 2.57% this week, ranking 23rd out of 29 sectors. The overall market indices also showed declines, with the Shanghai Composite Index down 0.51% [7][28]. - The report notes that the automotive sector's price-to-earnings (PE) ratio stands at 31, indicating a relatively high valuation compared to historical averages [28][34].