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 | 证券代码：603197 | 证券简称：保隆科技 | 公告编号：2025-099 | | --- | --- | --- | | 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 2025年半年度权益分派实施公告 A 股每股现金红利0.32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 | 2025/10/17 | － | 2025/10/20 | 2025/10/20 | 差异化分红送转： 是 截至本公告披露日，公司总股本 213,659,719 股，较 2025 年 8 月 27 日公司总 股本 213,622,771 股增加了 36,948 股，股本增加系公司股权激励计划股票期 权自主行权及可转换公司债券转股所致。 根据公司股东会授权董事会审议通过的《关于公司 2025 年半年度利 ...

| 证券代码：603197 | 证券简称：保隆科技 | 公告编号：2025-098 | | --- | --- | --- | | 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 2025 年第三季度可转债转股及股权激励计划 股票期权自主行权结果暨股份变动的公告 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。 重要提示内容： 可转债转股情况 上海保隆汽车科技股份有限公司（以下简称"公司"）2025 年第三季度共 有 26,000 元"保隆转债"转换为公司股票，因转股形成的股份数量为 651 股； 截至 2025 年 9 月 30 日，累计共有 124,000 元"保隆转债"转换为公司股票，累 计因转股形成的股份数量为 3,065 股，占"保隆转债"转股前（2025 年 5 月 5 日）公司已发行股份总额的 0.0014%。截至 2025 年 9 月 30 日，尚未转股的"保 隆转债"金额为 1,389,876,000 元，占可转债发行总额的 99.9911%。 （二）可转债转股价格调 ...

| 证券代码：603197 | 证券简称：保隆科技 | 公告编号：2025-097 | | --- | --- | --- | | 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 关于为控股子公司提供担保的公告 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： | | | | | 被担保人名称 | 上海保隆工贸有限公司（以下简称 "保隆工贸"） | | --- | --- | --- | | 担保对象一 | | | | | 本次担保金额 | 25,000.00 万元 | | | 实际为其提供的担保余额 | 133,340.00 万元（含本次） | | | 是否在前期预计额度内 | □是 □不适用 否 | | | 本次担保是否有反担保 | □是 否 □不适用 | | 担保对象二 | 被担保人名称 | 上海保隆汽车科技（安徽）有限公 司（以下简称"合肥保隆"） | | | 本次担保金额 | 5,000.00 万元 | | | 实际为其提供的担保余额 | 53,800.00 万 ...

Stock Recommendations - 运机集团 (001288.SZ)预计2025年EPS为1.29，2026年EPS为2.11，当前PE(TTM)为35.57[2] - 国能日新 (301162.SZ)预计2025年EPS为0.94，2026年EPS为1.24，当前PE(TTM)为75.96[2] - 保隆科技 (603197.SH)预计2025年EPS为2.03，2026年EPS为2.58，当前PE(TTM)为33.01[2] - 中际旭创 (300308.SZ)预计2025年EPS为7.21，2026年EPS为8.90，当前PE(TTM)为65.88[2] - 上美股份 (2145.HK)预计2025年EPS为2.58，2026年EPS为3.23，当前PE(TTM)为39.44[2] Market Performance - 2025年9月国元金股组合自由流通加权收益率为12.44%，等权收益率为11.20%[10] - 同期上证指数上涨0.64%，沪深300上涨3.20%[10] - 表现最佳的ETF为汇添富中证电池主题ETF，上涨38.93%[10] Growth Indicators - 中际旭创市值达到4485.36亿元，ROE接近40%[17] - 国能日新归母净利润增速为32.48%，营业收入增速为43.15%[19] - 保隆科技近一个月涨幅为15.85%，换手率超过100%[17] Risks - 经济恢复及政策发力不及预期的风险[4] - 行业及个股自身经营风险[4]

公司于 2024 年 12 月 30 日召开第七届董事会第二十二次会议及第七届监事 会第二十二次会议，审议通过《关于使用部分闲置募集资金暂时补充流动资金的 议案》，同意公司使用不超过 3 亿元闲置募集资金暂时补充流动资金，使用期限 自公司董事会审议通过之日起不超过 12 个月。具体内容详见公司 2024 年 12 月 31 日披露于上海证券交易所网站的《上海保隆汽车科技股份有限公司关于使用 部分闲置募集资金暂时补充流动资金的公告》（公告编号：2024-131）。 | 证券代码：603197 | 证券简称：保隆科技 | 公告编号：2025-096 | | --- | --- | --- | | 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 关于提前归还部分用于暂时补充流动资金的闲置募集资金 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。 上海保隆汽车科技股份有限公司（以下简称"公司"）于 2024 年 12 月 3 日召开第七届董事会第二十一次会议及第七届监事会第二十一次会议，审议 ...

Core Viewpoint - The announcement details the implementation of the 2025 semi-annual profit distribution plan by Baolong Technology, including the suspension of the conversion of Baolong convertible bonds during the distribution period [1][2][3]. Group 1: Profit Distribution Plan - The company plans to distribute a cash dividend of 0.32 yuan per share (tax included) to all shareholders based on the total share capital registered on the equity distribution record date [3]. - The profit distribution plan was approved by the company's board of directors on August 29, 2025, and does not require further approval from the shareholders' meeting [3]. Group 2: Suspension of Conversion - The "Baolong Convertible Bonds" will suspend conversion from October 10, 2025, until the equity distribution record date, with resumption of conversion on the first trading day after the record date [4]. - Holders of convertible bonds wishing to enjoy the profit distribution must convert their bonds before October 9, 2025 [4]. Group 3: Communication - For further inquiries, the company’s securities investment department can be contacted at 021-32173333 [5]. - An email address for communication is provided as sbac@baolong.biz [6].

| 证券代码：603197 | 证券简称：保隆科技 | 公告编号：2025-095 | | --- | --- | --- | | 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 关于实施 2025 年半年度权益分派时"保隆转债" 停止转股暨转股价格调整的提示性公告 号：2025-090）、《上海保隆汽车科技股份有限公司 2024 年年度股东会决议公告》 （公告编号：2025-041）。 本次权益分派方案实施后，公司将根据《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募集说明书》的发行条款及相关规定，对"保隆 转债"当期转股价格进行调整。 二、本次权益分派方案实施时停止转股的安排 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 因上海保隆汽车科技股份有限公司（以下简称"公司"）实施 2025 年半年度权益 分派,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 | 停牌期间 | 停牌终止日 | ...

Core Insights - Baolong Technology has transformed from a traditional auto parts manufacturer to a leader in automotive intelligence, leveraging its manufacturing capabilities in traditional components to enter emerging fields [2][3][4] Group 1: Company Background and Evolution - Baolong Technology, founded by Zhang Zuqiu and his team, has focused on producing small components like tire valves, achieving a production of approximately 260 million units annually [3][4] - The company has become the global leader in the tire valve market, emphasizing performance and cost efficiency [3][4] Group 2: Technological Advancements - Baolong Technology has developed a tire pressure monitoring system (TPMS) that has achieved a market share of 50% in China and 25% globally, despite entering the market later than international competitors [4][5] - The latest TPMS can monitor tire pressure and temperature in real-time and provide alerts for blowouts, significantly enhancing vehicle safety [5] Group 3: Market Position and Strategy - The company has achieved a nearly 30% market share in the air suspension sector within just three years, positioning itself as the second-largest supplier [6][7] - Baolong Technology employs a "co-opetition strategy," collaborating with international firms to enhance its technological capabilities while leveraging its advantages in the Chinese market [7] Group 4: Future Outlook - The company is expanding its product offerings in the automotive sensor field, with over 40 applications across six categories, including speed sensors and rain sensors [5] - Baolong Technology is investing in high-end smart manufacturing bases in Shanghai and Hungary to support its global expansion and R&D efforts [7]

Investment Rating - The report rates the industry as "Overweight," indicating an expectation that the industry will outperform the overall market [4]. Core Insights - The report highlights a strategic shift for Xingyu Co., Ltd. from domestic new energy vehicle clients to overseas markets, particularly in Europe, with collaborations with major clients like Volkswagen and BMW [4][5]. - Ningbo Huaxiang is extending its automotive parts manufacturing capabilities into the robotics sector, aiming to achieve humanoid robot ODM capabilities within five years [5][6]. - Changshu Automotive Trim is transitioning from joint venture brands to new energy vehicle clients, with a significant portion of revenue now coming from this sector [6]. - Fuda Co., Ltd. is positioned in the robotics field, with a strong demand for its main products and a high certainty of performance growth [6][8]. - Baolong Technology is expected to benefit from new model launches by clients like NIO, with projected profits increasing significantly in the coming years [8]. Summary by Company Xingyu Co., Ltd. - The strategic focus is shifting towards overseas markets, with potential project approvals expected by the end of this year or next [4]. - The penetration of high-end lighting products is anticipated to increase the per-vehicle value significantly, from over 1,000 yuan for standard LED to over 4,000 yuan for HD and up to 10,000 yuan for DLP [4]. Ningbo Huaxiang - The company is leveraging its manufacturing strengths to enter the robotics market, with expected revenue from robot OEM services reaching 20,000 to 30,000 yuan per unit [5]. - After divesting from unprofitable European operations, the net profit for the first half of the year was reported at 600 million yuan, a 26.4% increase year-on-year [5]. Changshu Automotive Trim - The company is transitioning its client base towards new energy vehicles, with 50% of revenue now derived from this segment [6]. - Despite challenges in restoring profit margins due to competition and new factory ramp-up, the company is exploring opportunities in robotics and lightweight materials [6]. Fuda Co., Ltd. - The company is experiencing high demand in its main business areas, with a strong growth outlook in the robotics sector [6]. - Fuda's established production capabilities in key components position it well for future growth and potential revaluation [6]. Baolong Technology - The company is expected to see profit growth driven by new model launches from clients, with projected profits of 440 million yuan this year and 580 million yuan next year [8]. - Baolong's strong foundation in automotive sensors provides a logical pathway for expansion into robotics [8].

Investment Rating - The report suggests a focus on companies with strong growth potential in the automotive and robotics sectors, recommending to pay attention to companies like Xingyu Co., Ningbo Huaxiang, and Fuda Co. due to their strategic shifts and growth prospects [1][4][5][6]. Core Insights - Xingyu Co. is shifting its strategic focus from domestic new energy vehicles to overseas markets, particularly in Europe, with expected project confirmations by the end of this year or next year. The penetration of high-end lighting products is projected to significantly increase the per vehicle value [1][4]. - Ningbo Huaxiang is extending its automotive parts manufacturing into the robotics field, aiming to achieve humanoid robot ODM capabilities within five years. The company has shown a strong profit growth of 26.4% year-on-year, with expectations for further recovery in net profit by 2026 [3][5]. - Changshu Automotive Trim is transitioning from joint venture brands to new energy vehicle clients, with 50% of its revenue now from this sector. However, it faces challenges in restoring profit margins due to increased competition [3][6]. - Fuda Co. is recognized for its strong growth potential in the robotics sector, with a solid demand for its main products and a promising outlook for its business expansion [3][6]. - Baolong Technology is expected to benefit from new model launches by clients like NIO, with projected profits increasing significantly in the coming years, indicating a strong market position [3][7]. Summary by Relevant Sections Company Updates - Xingyu Co. is enhancing collaborations with European clients like Volkswagen and BMW, with expectations for new project confirmations soon. The company’s PE ratio is around 20 times, indicating potential undervaluation [1][4]. - Ningbo Huaxiang is strategically positioning itself in the robotics market, with a projected revenue of 20,000 to 30,000 yuan per robot unit. The company has successfully divested from unprofitable European operations, leading to a net profit of 600 million yuan [3][5]. - Changshu Automotive Trim is experiencing a shift in client base towards new energy vehicles, but faces challenges in profit margin recovery due to competitive pressures [3][6]. - Fuda Co. is noted for its strong demand in the robotics field, with established production capabilities and potential for upward valuation [3][6]. - Baolong Technology is projected to see profit growth driven by new model releases, with a PE ratio below 20 times, suggesting that the market has not fully priced in its growth potential [3][7].