Core Points - The founder and actual controller of Xinquan Automotive Trim Co., Ltd., Tang Aoqi, passed away on October 26 at the age of 80, as announced by the company on October 27 [2] - Tang Aoqi was instrumental in the establishment and growth of Xinquan, dedicating over 40 years to the automotive industry [2] - The company confirmed that Tang's death will not lead to a change in control, as the controlling shareholder, Jiangsu Xinquan Zhihua Investment Co., holds 25.86% of the total shares [2] Company Background - Xinquan was founded by Tang Aoqi and his son, evolving from a small workshop producing automotive instrument panels into a significant player in the automotive parts industry [2][6] - The company has expanded its business from supplying small automotive manufacturers to collaborating with major brands such as FAW-Volkswagen, Shanghai Volkswagen, and Geely [7] - Xinquan went public on the A-share main board in March 2017, and under Tang's leadership, the company adopted a global expansion strategy, establishing production bases in various locations, including Mexico and Germany [8] Financial Performance - In 2017, Xinquan reported a revenue of 3.095 billion yuan and a net profit of 250 million yuan [8] - By the first half of 2025, the company's revenue increased by 21.01% year-on-year to 7.459 billion yuan, with a net profit growth of 2.80% to 422 million yuan [8]

Core Points - Xinquan Co., Ltd. announced that investors holding the "Xin 23 Convertible Bond" can only convert at a price of 50.75 CNY per share or face mandatory redemption at a price of 100 CNY per bond plus accrued interest of 0.2192 CNY per bond, totaling 100.2192 CNY per bond [1] Summary by Category - **Company Announcement** - Xinquan Co., Ltd. released a notice regarding the options available to investors holding the "Xin 23 Convertible Bond" [1] - **Investment Implications** - Investors may face significant losses if the bonds are subject to mandatory redemption [1]

| 证券代码：603179 | 证券简称：新泉股份 | | 公告编号：2025-061 | | --- | --- | --- | --- | | 债券代码：113675 | 债券简称：新 转债 | 23 | | 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 关于实施"新 23 转债"赎回暨摘牌的最后一次提示性公告 重要内容提示： 赎回登记日：2025 年 10 月 29 日 赎回价格：100.2192 元/张 赎回款发放日：2025 年 10 月 30 日 最后交易日：2025 年 10 月 24 日 自 2025 年 10 月 27 日起，"新 23 转债"已停止交易。 最后转股日：2025 年 10 月 29 日 截至 2025 年 10 月 28 日收市后，距离 10 月 29 日（"新 23 转债"最后转股日） 仅剩 1 个交易日，10 月 29 日为"新 23 转债"最后一个转股日。 本次提前赎回完成后，"新 23 转债"将自 2025 年 10 月 30 日起在上海证 券交易所摘牌 ...

Core Viewpoint - Xinquan Co., Ltd. has experienced fluctuations in stock price and trading volume, with a significant increase in stock price year-to-date, indicating strong market interest and potential growth in the automotive parts sector [1][2]. Financial Performance - For the first half of 2025, Xinquan Co., Ltd. reported revenue of 7.459 billion yuan, a year-on-year increase of 21.01%, and a net profit attributable to shareholders of 422 million yuan, reflecting a growth of 2.80% [2]. - The company has distributed a total of 946 million yuan in dividends since its A-share listing, with 439 million yuan distributed over the past three years [3]. Stock Market Activity - As of October 28, 2023, Xinquan's stock price was 73.60 yuan per share, with a market capitalization of 36.188 billion yuan. The stock has increased by 73.58% year-to-date [1]. - The stock has appeared on the "龙虎榜" (a trading board for stocks with significant trading activity) four times this year, with the most recent appearance on September 18, 2023, where it recorded a net buy of -241 million yuan [1]. Shareholder Structure - As of June 30, 2025, the number of shareholders decreased by 25.11% to 10,300, while the average number of circulating shares per person increased by 33.53% to 47,087 shares [2]. - The top three circulating shareholders include Hong Kong Central Clearing Limited, which increased its holdings by 5.917 million shares, and other notable shareholders include泉果旭源三年持有期混合A and 南方中证500ETF, with varying changes in their holdings [3]. Industry Context - Xinquan Co., Ltd. operates in the automotive parts sector, specifically focusing on automotive electronic and electrical systems, and is associated with concepts such as new energy vehicles and major automotive brands like BYD and Tesla [1].

Core Viewpoint - Xinquan Co., Ltd. announced that investors holding the "Xin 23 Convertible Bond" can only convert at a price of 50.75 CNY per share or face mandatory redemption at a price of 100 CNY per bond plus accrued interest of 0.2192 CNY per bond, totaling 100.2192 CNY per bond, which may lead to significant investment losses for investors [1] Group 1 - The announcement specifies the conversion price for the "Xin 23 Convertible Bond" at 50.75 CNY per share [1] - Investors have the option of mandatory redemption at a total of 100.2192 CNY per bond, which includes the face value and accrued interest [1] - The potential for significant investment losses is highlighted if investors opt for mandatory redemption instead of conversion [1]

| 证券代码：603179 | 证券简称：新泉股份 | | | 公告编号：2025-060 | | --- | --- | --- | --- | --- | | 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 关于实施 "新 23 转债" 赎回暨摘牌的第九次提示性公告 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： 赎回登记日：2025 年 10 月 29 日 赎回价格：100.2192 元/张 赎回款发放日：2025 年 10 月 30 日 最后交易日：2025 年 10 月 24 日 自 2025 年 10 月 27 日起，"新 23 转债"已停止交易。 最后转股日：2025 年 10 月 29 日 截至 2025 年 10 月 27 日收市后，距离 10 月 29 日（"新 23 转债"最后转股日） 仅剩 2 个交易日，10 月 29 日为"新 23 转债"最后一个转股日。 根据公司《募集说明书》相关条款规定，"新 23 转债"的有条件赎回条款如 下： ...

Market Overview - The automotive parts sector increased by 0.58% compared to the previous trading day, with BiaoBang Co., Ltd. leading the gains [1] - The Shanghai Composite Index closed at 3996.94, up 1.18%, while the Shenzhen Component Index closed at 13489.4, up 1.51% [1] Top Gainers in Automotive Parts Sector - BiaoBang Co., Ltd. (301181) closed at 50.52, up 13.20% with a trading volume of 130,300 shares and a transaction value of 626 million [1] - Qingdao Double Star (000599) closed at 6.96, up 9.95% with a trading volume of 753,800 shares [1] - MeiHu Co., Ltd. (603319) closed at 38.90, up 6.99% with a trading volume of 229,100 shares [1] - New Coordinate (603040) closed at 77.20, up 6.94% with a trading volume of 42,300 shares [1] - Zhengdu Co., Ltd. (301005) closed at 48.52, up 6.64% with a trading volume of 104,300 shares [1] Top Losers in Automotive Parts Sector - WanAn Technology (002590) closed at 13.92, down 5.18% with a trading volume of 368,300 shares [2] - Wanliyang (002434) closed at 9.41, down 4.66% with a trading volume of 501,500 shares [2] - Shenglong Co., Ltd. (603178) closed at 21.86, down 4.46% with a trading volume of 423,000 shares [2] Capital Flow Analysis - The automotive parts sector experienced a net outflow of 1.495 billion in main funds, while retail funds saw a net inflow of 819 million [2] - The sector's overall capital flow indicates a mixed sentiment among institutional and retail investors [2] Individual Stock Capital Flow - New Spring Co., Ltd. (603179) had a main fund net inflow of 173 million, while retail funds saw a net outflow of 208 million [3] - Zhongtai Automobile (000980) experienced a main fund net inflow of 98.38 million, but both retail and speculative funds had net outflows [3] - MeiHu Co., Ltd. (603319) had a main fund net inflow of 90.39 million, with retail funds experiencing a net outflow of 6446.47 million [3]

Core Viewpoint - The passing of Tang Aoqi, the founder and actual controller of Xinquan Co., Ltd., marks a significant moment for the company, which he dedicated over 40 years to develop and grow [1][4]. Company Overview - Tang Aoqi, born in 1945, started his entrepreneurial journey in 1982 with a small workshop and later co-founded Xinquan Co., Ltd. in 1993, which has become a leading automotive parts supplier in China [4]. - Xinquan Co., Ltd. was listed on the Shanghai main board in 2017 and is recognized as one of the top automotive parts suppliers in the country, providing comprehensive solutions for automotive interior components [4]. Financial Performance - In the first half of 2025, Xinquan Co., Ltd. reported a revenue of 7.459 billion CNY, a year-on-year increase of 21.01%, and a net profit attributable to shareholders of 422 million CNY, up 2.80% from the previous year [5]. - The company's net profit after deducting non-recurring gains and losses was 415 million CNY, reflecting a growth of 1.20% year-on-year [5]. Market Position - Xinquan Co., Ltd. is a core supplier for Tesla's interior components and collaborates with major domestic automotive manufacturers, including FAW Jiefang, Beiqi Foton, and BYD [4]. - As of October 27, 2023, Xinquan Co., Ltd.'s stock price was 75.46 CNY per share, with a total market capitalization of 371 billion CNY [7][8].

Core Viewpoint - The passing of Tang Aoqi, the founder and actual controller of Xinquan Co., Ltd., marks a significant moment for the company, which he helped establish and grow over four decades in the automotive industry [1][4]. Company Overview - Xinquan Co., Ltd. was founded in 1993 by Tang Aoqi and his son, Tang Zhihua, and has become a leading provider of automotive interior solutions, serving both commercial and passenger vehicle sectors [4]. - The company is recognized as one of the top 100 automotive parts suppliers in China and is a core supplier for Tesla's interior components [4]. Financial Performance - In the first half of 2025, Xinquan Co., Ltd. reported a revenue increase of 21.01% year-on-year, reaching 7.459 billion yuan, while the net profit attributable to shareholders grew by 2.80% to 422 million yuan [4]. - The company's net profit after excluding non-recurring items increased by 1.20% to 415 million yuan during the same period [4]. Shareholding and Control - Although Tang Aoqi did not hold any direct shares in Xinquan Co., Ltd., he controlled 51% of the shares in its holding company, Jiangsu Xinquan Zhihua Investment Co., Ltd. [6]. - The company announced that the shareholding of Tang Aoqi will be subject to legal inheritance procedures, and this will not lead to any change in the company's control [6]. Market Position - As of October 27, the stock price of Xinquan Co., Ltd. was reported at 75.46 yuan per share, with a total market capitalization of 37.1 billion yuan [6].

Core Points - The founder and actual controller of Xin Quan Automotive Trim Co., Ltd., Tang Ao Qi, passed away on October 26, 2025, at the age of 80 [1] - Tang Ao Qi was instrumental in the establishment and growth of Xin Quan, contributing significantly to its development over more than 40 years [1] - The company announced that the shareholding of Tang Ao Qi in the controlling shareholder, Jiangsu Xin Quan Zhi He Investment Co., Ltd., will be inherited according to legal procedures, but this will not lead to a change in control of the company [1] - Tang Ao Qi did not directly hold shares in Xin Quan and was not employed by the company, indicating that his passing will not have a significant impact on the company's operations [1] Company Overview - Xin Quan is a publicly listed company on the Shanghai Stock Exchange (stock code: 603179), specializing in the design, manufacturing, and sales of automotive interior and exterior trim components and molds [5][9] - The company was founded on April 28, 2001, and currently operates 26 subsidiaries domestically and 5 subsidiaries overseas, along with a provincial technology center and a CNAS-certified laboratory [9] - Xin Quan is recognized as one of the top 100 automotive parts suppliers in China and has established partnerships with major automotive manufacturers such as FAW Jiefang, BAIC Foton, and BYD [9] Financial Performance - In the first half of 2025, Xin Quan reported a revenue of 7.46 billion yuan, representing a year-on-year increase of 21.01% [10][11] - The net profit attributable to shareholders increased by 2.80% to 422 million yuan, while the net profit after deducting non-recurring gains and losses grew by 1.20% to 415 million yuan [10][11] - The company's cash flow from operating activities saw a significant decline of 73.91% compared to the previous year [11]