Group 1 - The company is currently developing robotaxi cameras for leading domestic autonomous brand clients and is in the sample delivery stage [2] - The company has not participated in any unmanned logistics vehicle projects [2]

Core Viewpoint - Baolong Technology (603197.SH) is planning to gradually invest resources to expand its business in the robotics sector, with future developments to be announced in related company announcements [1] Group 1 - The company is focusing on the robotics field as a new area of business expansion [1]

Core Viewpoint - The company plans to gradually invest resources to expand its business in the robotics sector, with future developments to be announced in related announcements [1] Group 1 - The company is focusing on the robotics field as a new area of growth [1] - The company encourages stakeholders to keep an eye on future announcements regarding this initiative [1]

Core Viewpoint - Baolong Technology (603197.SH) is currently developing robotaxi cameras for leading domestic autonomous brand clients and is in the sample delivery stage. The company has not yet participated in unmanned logistics vehicle projects [1] Company Summary - Baolong Technology is focused on developing robotaxi cameras for top domestic autonomous brands [1] - The company is in the process of delivering samples for these projects [1] - Baolong Technology has not engaged in any unmanned logistics vehicle initiatives as of now [1]

二、本次闲置募集资金临时补充流动资金的情况 证券代码：603197 证券简称：保隆科技公告编号：2025-101 债券代码：113692 债券简称：保隆转债 上海保隆汽车科技股份有限公司关于签订募集资金三方监管协议的公告 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。 一、募集资金基本情况 经中国证券监督管理委员会（以下简称"中国证监会"）证监许可〔2024〕1184号文《关于同意上海保隆 汽车科技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》核准，上海保隆汽车科技股份有 限公司（以下简称"公司"）于2024年10月31日向不特定对象发行面值总额139,000.00万元可转换公司债 券，期限6年，每张面值为人民币100元，发行数量1,390.00万张，募集资金总额为人民币139,000.00万 元。扣除发行费用人民币1,292.75万元（不含税）后，募集资金净额为人民币137,707.25万元。上述募集 资金到位情况已经大信会计师事务所（特殊普通合伙）验证，并由其出具《验资报告》（大信验字 〔2024〕第1-00069 ...

证券代码：603197 证券简称：保隆科技 公告编号：2025-101 债券代码：113692 债券简称：保隆转债 上海保隆汽车科技股份有限公司 关于签订募集资金三方监管协议的公告 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。 一、募集资金基本情况 经中国证券监督管理委员会（以下简称"中国证监会"）证监许可〔2024〕 1184 号文《关于同意上海保隆汽车科技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》核准，上海保隆汽车科技股份有限公司（以下简称"公司"） 于 2024 年 10 月 31 日向不特定对象发行面值总额 139,000.00 万元可转换公司债 券，期限 6 年，每张面值为人民币 100 元，发行数量 1,390.00 万张，募集资金 总额为人民币 139,000.00 万元。扣除发行费用人民币 1,292.75 万元（不含税） 后，募集资金净额为人民币 137,707.25 万元。上述募集资金到位情况已经大信 会计师事务所（特殊普通合伙）验证，并由其出具《验资报告》（大信验字〔2024〕 第 1-0 ...

Investment Rating - The industry investment rating is "Overweight" indicating a positive outlook for the sector relative to the market benchmark [3][13]. Core Insights - The report highlights strong sales performance across key companies in the automotive sector, with notable increases in profitability and sales volumes for brands like BYD, Geely, and SAIC [3][4][5]. - The report emphasizes the importance of technological advancements and state-owned enterprise reforms as key drivers for investment opportunities in the automotive industry [3][4]. - The report suggests a focus on companies with strong performance metrics and growth potential, particularly in the context of electric vehicles and smart technology [3][4][5]. Summary by Relevant Sections Company Performance - BYD reported Q3 sales of 1.11 million units, with an estimated profit of approximately 8.5 billion, indicating a recovery in per-vehicle profitability to around 8,000 [3][4]. - Geely's Q3 sales showed a strong increase, particularly in mid-to-high-end models, with expected profits around 3.5 billion [3][4]. - NIO's Q3 sales reached 87,000 units, with a projected loss of about 2.5 billion, although gross margins are expected to improve [3][4]. - SAIC Group's Q3 profits are anticipated to be around 3.5 billion, supported by strong performance in both domestic and overseas markets [5]. - Other companies like Xpeng and Li Auto are also highlighted for their sales growth and strategic partnerships, which may enhance future profitability [7][8]. Investment Recommendations - The report recommends focusing on leading domestic manufacturers such as BYD, Geely, and Xpeng, as well as companies involved in smart technology like JAC Motors and Seres [3][4]. - It also suggests monitoring state-owned enterprises like SAIC and Dongfeng for potential consolidation opportunities [3][4]. - For component manufacturers with strong growth prospects, companies like Fuyao Glass and Silver Wheel are recommended due to their robust performance and international expansion capabilities [3][4][5].

Core Viewpoint - Baolong Technology's stock price has experienced fluctuations, with a recent decline of 2.01% and a year-to-date increase of 7.60%, indicating volatility in market performance [1]. Financial Performance - For the first half of 2025, Baolong Technology achieved a revenue of 3.95 billion yuan, representing a year-on-year growth of 24.06%. However, the net profit attributable to shareholders decreased by 9.15% to 135 million yuan [2]. - The company has distributed a total of 771 million yuan in dividends since its A-share listing, with 422 million yuan distributed over the past three years [3]. Stock Market Activity - As of October 16, Baolong Technology's stock was trading at 40.07 yuan per share, with a market capitalization of 8.561 billion yuan. The stock has seen a trading volume of 156 million yuan and a turnover rate of 1.80% [1]. - The stock has been on the "龙虎榜" (a list of stocks with significant trading activity) once this year, with the last appearance on February 7 [1]. Shareholder Information - As of June 30, the number of shareholders for Baolong Technology increased by 30.40% to 22,700, while the average number of tradable shares per shareholder decreased by 23.31% to 9,394 shares [2]. - The top ten circulating shareholders include Hong Kong Central Clearing Limited, which holds 1.7708 million shares, a decrease of 1.3537 million shares from the previous period [3].

上海精诚磐明律师事务所 上海环球金融中心15楼T61 邮政编码: 200120 中国上海市浦东新区世纪大道100号 Brightstone Lawyers Suite T61, 15/F, Shanghai World Financial Center No.100 Century Avenue, Pudong New District Shanghai 200120, China 电话: +86 21 6881 5499 www.brightstonelawyers.com 致：上海保隆汽车科技股份有限公司 上海精诚磐明律师事务所 关于上海保隆汽车科技股份有限公司 差异化分红之法律意见书 上海精诚磐明律师事务所（下称"本所"）接受上海保隆汽车科技股份有限公司（下 称"公司"）的委托，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》）、《上市公司股份回购规则》（以下简称 《回购规则》）、《上海证券交易所上市公司自律监管指引第 7 号——回购股份》（以 下简称《自律监管指引第 7 号》）等法律、行政法规和规范性文件以及《上海保隆汽车 科技股份有限公司章程》（以下 ...

| 证券代码：603197 | 证券简称：保隆科技 | 公告编号：2025-100 | | --- | --- | --- | | 债券代码：113692 | 债券简称：保隆转债 | | 上海保隆汽车科技股份有限公司 关于"保隆转债"转股价格调整暨转股复牌的公告 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： 证券停复牌情况：适用 因实施 2025 年半年度权益分派方案，本公司可转债"保隆转债"自权益分派 公告披露前一交易日（2025 年 10 月 10 日）至权益分派股权登记日（2025 年 10 月 17 日）期间停止转股，自 2025 年 10 月 20 日起恢复转股。本公司的相关证券 停复牌情况如下： | 证券代码 | 证券简称 | 停复牌类型 | 停牌起始日 | 停牌 | 停牌终止日 | 复牌日 | | --- | --- | --- | --- | --- | --- | --- | | | | | | 期间 | | | | 113692 | 保隆转债 | 可转债转股复牌 | | | 2025/10 ...