Group 1 - The core event involves Yongzhen Co., which executed a block trade of 470,000 shares on December 9, with a transaction value of 8.5634 million yuan, accounting for 16.69% of the total trading volume for that day [1] - The transaction price was 18.22 yuan, representing an 8.9% discount compared to the market closing price of 20 yuan [1] Group 2 - The block trade details include a transaction date of December 9, 2025, with a total transaction amount of 2.1864 million yuan and a volume of 12 shares for one of the buying brokerage firms [2] - Multiple brokerage firms participated in the transaction, indicating a diverse interest in Yongzhen Co. shares [2]

Investment Rating - The report assigns a "Buy" rating for the company, marking it as the first coverage [2][6]. Core Insights - The company is positioned in high-growth sectors such as robotics and thermal management, with significant profit enhancement from the overseas photovoltaic frame market [1][6]. - The company has a strong competitive edge in the photovoltaic frame sector, having successfully integrated into the supply chains of leading domestic and international manufacturers [6][29]. - The acquisition of Jienowei allows the company to enter the thermal management market, with clear expansion plans and an optimized customer structure expected to enhance profitability [6][31]. Financial Data and Profit Forecast - Total revenue projections for 2023 to 2027 are as follows: 5,391 million, 8,183 million, 12,329 million, 17,136 million, and 23,161 million respectively, with growth rates of 4.1%, 51.8%, 50.7%, 39.0%, and 35.2% [5][37]. - The forecasted net profit for the same period is 371 million, 268 million, 60 million, 373 million, and 692 million, with corresponding growth rates of 50.7%, -27.7%, -77.7%, 523.1%, and 85.6% [5][37]. - The company’s earnings per share are projected to be 1.56, 1.13, 0.25, 1.57, and 2.92 for the years 2023 to 2027 [5][37]. Business Strategy and Market Position - The company leverages its advantages in the photovoltaic and aluminum supply chains to diversify into thermal management, energy storage, and robotics, with future growth primarily driven by overseas markets [6][34]. - The company’s Vietnam base is strategically positioned to serve the US and Indian markets, benefiting from higher processing fees and profit margins [6][34]. - The company has established partnerships with key players in the robotics sector, leading to successful mass deliveries and anticipated growth in this business line [6][31]. Key Assumptions - The report assumes overseas frame sales of 95,000 tons, 155,000 tons, and 200,000 tons from 2025 to 2027, with domestic sales of 405,000 tons, 505,000 tons, and 600,000 tons respectively [6][34]. - The company is expected to achieve profitability in its energy storage business starting in the second half of 2026 [6][34]. Catalysts for Growth - Sufficient orders from the Vietnam base for photovoltaic frames [6][34]. - Continuous advancement in the application of new technologies for photovoltaic frames [6][34]. - New business segments entering a revenue-generating phase [6][34].

证券代码：603381 证券简称：永臻股份 公告编号：2025-062 永臻科技股份有限公司 一、离任情况 | | | | 原定 | | 是否继续 在上市公 | 具体职 | 是否存 在未履 | | --- | --- | --- | --- | --- | --- | --- | --- | | 姓名 | 离任职务 | 离任时 间 | 任期 到期 | 离任原 因 | 司及其控 | 务（如 | 行完毕 | | | | | 日 | | 股子公司 任职 | 适用） | 的公开 承诺 | | HU HUA | 董事、副 总经理、 战 略 与 | 2025年 11 月 | 2027 年 9 月 日 1 | 已到退 休年龄 | 否 | 不适用 | 是 | | | 委员 ESG 会委员 | 日 28 | | | | | | (一) 提前离任的基本情况 (二) 离任对公司的影响 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： 永臻科技股份有限公司（以下简称"公司"）董事会于近日收到公司董事、 副总经理 HU HUA 女士递交的 ...

Core Viewpoint - The company announced the resignation of Ms. HUHUA, who served as a director and vice president, due to reaching retirement age [1] Group 1 - Ms. HUHUA submitted a written resignation report to the company's board [1] - She applied to resign from her positions as a director of the second board, vice president, and member of the Strategic and ESG Committee [1] - After her resignation, she will not hold any position within the company [1]

Core Viewpoint - The company aims to leverage its acquisition of Jienowei to enhance its capabilities in thermal management liquid cooling applications, particularly in the fields of new energy vehicle battery trays, energy storage battery trays, data center liquid cooling systems, and 5G technology [1] Group 1 - The company plans to increase Jienowei's production capacity to 100,000 tons by the end of 2026, with an expected shipment of around 30,000 tons in 2026 [1] - The company anticipates further growth in 2027 as production capacity is released [1] - The company will shift Jienowei from indirect supply to direct supply, optimizing the customer structure and enhancing profit margins [1]

Core Points - Yongzhen Co., Ltd. (603381.SH) closed at 20.89 yuan, with a decline of 2.11%, currently in a broken state [1] - The company was listed on the Shanghai Stock Exchange on June 26, 2024, with an initial public offering of 59.3141 million shares at a price of 23.35 yuan per share [1] - On the first day of trading, the stock reached a peak price of 44.99 yuan, marking the highest price since its listing [1] Fundraising and Financials - The total amount raised from the IPO was 138.49842 million yuan, with a net amount of 130.31317 million yuan after deducting issuance costs [1] - The actual net fundraising amount was 42.18683 million yuan less than the originally planned amount of 172.5 million yuan [1] - The issuance costs totaled 8.18525 million yuan (excluding VAT), with underwriting fees amounting to 5.53994 million yuan [1]

证券代码：603381 证券简称：永臻股份 公告编号：2025-061 永臻科技股份有限公司 关于对外担保的进展公告 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 本次担保金额 | YONZ INVESTMENT 万美元 1,500 | TECHNOLOGY (VIETNAM) CO., LTD. | | --- | --- | --- | --- | | 担 保 对 | | | | | 象 1 | 实际为其提供的担保余额 | 10,487.48 | 万元 | | | 是否在前期预计额度内 | 是 □否 | □不适用：_________ | | | 本次担保是否有反担保 | □是 否 | □不适用：_________ | 担保对象及基本情况 本次为公司合并报表范围内的全资子公司永臻越南提供的担保，在公司股东 会授权的担保额度范围内。截至本公告披露日，公司已实际为永臻越南提供的担 保余额为 10,487.48 万元（含本次）。 二、被担保人基本情况 （一）基本情况 累计担保情况 | 对 ...

Core Viewpoint - The company is leveraging its research, technology, and production advantages in aluminum alloy materials and extrusion industry to actively enter the humanoid robot sector [1] Group 1: Company Developments - The company has established a partnership with Zhiyuan Robotics, resulting in bulk deliveries and the supply of multiple core components for its main model [1] - Future plans include joint research with partners to explore the application of aluminum and magnesium alloys to meet lightweight and high-performance requirements [1] - The company aims to gradually increase the supply of related components to ensure sustained growth in its robotics business [1]

Core Viewpoint - The company is actively expanding into the humanoid robotics sector while maintaining its core business, leveraging its expertise in aluminum alloy materials and extrusion processes [1] Company Developments - The company has established a partnership with Zhiyuan Robotics, supplying key components for their main robotic models, and has achieved bulk delivery [1] - Future plans include joint research and development with partners to explore the application of aluminum and magnesium alloys to meet lightweight and high-performance requirements [1] - The company aims to gradually increase the supply of related components to ensure sustained growth in its robotics business [1]

证券代码：603381 证券简称：永臻股份 公告编号：2025-060 永臻科技股份有限公司 关于担保额度调剂及对外担保的进展公告 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： 担保对象及基本情况 | | | 被担保人名称 | | 浙江捷众新材料有限公司 万元 | | | --- | --- | --- | --- | --- | --- | | | | 本次担保金额 | 1,000 | | | | 担保对象 | 1 | 实际为其提供的担保余额 | 1,000 | 万元 | | | | | 是否在前期预计额度内 | 是 | □否 | □不适用：_________ | | | | 本次担保是否有反担保 | □是 | 否 | □不适用：_________ | | 担保对象 | 2 | 被担保人名称 | | | 浙江捷诺威汽车轻量化科技有限公司 | | | | 本次担保金额 | 5,000 | 万元 | | | | | 实际为其提供的担保余额 | 5,000 | 万元 | | | | | 是否在前期预计额度内 ...