Core Viewpoint - Tesla is reportedly adjusting its supply chain, which may impact its business operations and relationships with suppliers [2] Company Summary - You Sheng Co., Ltd. (友升股份) primarily supplies components to Tesla from its manufacturing base in Mexico, while its Shanghai factory is supported by its subsidiary, Shanghai Zesheng [2] - The company emphasizes a diversified customer structure and balanced business layout as part of its development strategy [2] - You Sheng has established overseas production bases to effectively mitigate supply chain risks arising from changes in international trade policies [2] Market Response - The company plans to closely monitor market dynamics and maintain communication with clients to formulate appropriate responses to any changes [2]

Core Viewpoint - On November 14, YouSheng Co., Ltd. experienced a slight decline of 0.24% in stock price, with a trading volume of 78.06 million yuan, indicating a mixed performance in the market [1]. Financing Summary - On the same day, the company had a financing purchase amount of 8.74 million yuan and a financing repayment of 10.13 million yuan, resulting in a net financing outflow of 1.39 million yuan [1]. - As of November 14, the total balance of margin trading for YouSheng Co. was 183 million yuan, which accounts for 7.62% of its circulating market value [1]. - There were no short selling activities reported on November 14, with both short selling repayment and selling amount recorded as zero [1]. Company Profile - YouSheng Co., Ltd. is located in Liaocheng City, Shandong Province, and was established on December 4, 1992. The company specializes in the design, development, production, sales, and service of aluminum alloy automotive components [1]. - The main revenue composition includes: threshold beam series (44.25%), battery tray series (26.94%), bumper series (10.66%), and other components (9.51% and 5.46%), with subframe series contributing 3.18% [1]. Financial Performance - For the period from January to September 2025, YouSheng Co. achieved an operating income of 3.463 billion yuan, reflecting a year-on-year growth of 27.44% [2]. - The net profit attributable to the parent company for the same period was 359 million yuan, representing a year-on-year increase of 38.08% [2]. - As of September 30, the number of shareholders for YouSheng Co. was 44,100, a decrease of 37.50% compared to the previous period, while the average circulating shares per person increased by 60.01% to 917 shares [2].

证券代码：603418 证券简称：友升股份 公告编号：2025-011 上海友升铝业股份有限公司 关于召开 2025 年第三季度业绩说明会的公告 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： 上海友升铝业股份有限公司（以下简称"公司"）已于 2025 年 10 月 30 日发布公司 2025 年第三季度报告，为便于广大投资者更全 面深入地了解公司 2025 年第三季度经营成果、财务状况，公司计划 于 2025 年 11 月 20 日 （星期四） 13:00-14:00 举行 2025 年第三季 度业绩说明会，就投资者关心的问题进行交流。 会议召开时间：2025 年 11 月 20 日（星期四） 13:00-14:00 会议召开地点：上海证券交易所上证路演中心（网址： https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2025 年 11 月 13 日（星期四）至 11 月 19 日（星 期三）16:00 前登录上证路演中心网站首页点击"提问预征集" ...

Core Viewpoint - The rapid growth of the new energy vehicle (NEV) market is driving the demand for aluminum alloy components in the automotive industry, leading to significant market expansion in China's aluminum alloy automotive parts sector, projected to reach 697.84 billion yuan in 2024, a year-on-year increase of 22.46% [1][8]. Market Overview - Aluminum alloy automotive parts are defined as components made from aluminum-based alloys, which are processed through various methods to achieve lightweight, high strength, corrosion resistance, and recyclability, contributing to vehicle weight reduction and energy efficiency [2]. - The application of aluminum alloy parts spans the entire vehicle, categorized into powertrain, chassis, body, electronic systems, and decorative components [2]. Market Policies - The Chinese government has implemented various policies to support the development of the automotive parts industry, including initiatives aimed at enhancing manufacturing reliability and promoting high-quality development in the NEV sector [2]. Industry Chain - The aluminum alloy automotive parts industry consists of upstream suppliers of aluminum materials and production equipment, midstream manufacturers of aluminum parts, and downstream automotive manufacturers and aftermarket services [4]. Market Growth - China's automotive market has seen substantial growth, with production and sales reaching 21.05 million and 21.12 million vehicles respectively from January to August 2025, marking a year-on-year increase of 12.7% and 12.6% [6]. Competitive Landscape - The aluminum alloy automotive parts market in China is characterized by a large number of companies, leading to a fragmented market structure. Key players include He Sheng Co., Ltd., Xusheng Group, and Wan Feng Ao Wei, among others [9][10]. - In 2024, Lichung Group led the industry with a revenue of 27.25 billion yuan, followed by Top Group and Minshi Group with revenues of 26.6 billion yuan and 23.15 billion yuan respectively [10]. Company Analysis - Lichung Group specializes in lightweight aluminum alloy products and has a complete industrial chain, with 54.5% of its revenue coming from casting aluminum alloys [11]. - Wan Feng Ao Wei focuses on lightweight metal components, achieving 80.81% of its revenue from automotive lightweight parts, totaling 6.056 billion yuan in the first half of 2025 [11]. Development Trends - The industry is expected to adopt smart factory and digital twin technologies, enhancing production efficiency and quality control. The use of recycled aluminum is anticipated to rise, aligning with sustainability goals and reducing production costs [12].

Company Performance - YouSheng Co., Ltd. reported a revenue of approximately 3.463 billion yuan for the first three quarters of 2025, representing a year-on-year increase of 27.44% [1] - The net profit attributable to shareholders of the listed company was approximately 359 million yuan, reflecting a year-on-year increase of 38.08% [1] - Basic earnings per share reached 2.48 yuan, also showing a year-on-year increase of 38.08% [1] Market Valuation - As of the report date, YouSheng Co., Ltd. has a market capitalization of 11.8 billion yuan [1]

Core Insights - YouSheng Co., Ltd. (603418.SH) reported a total operating revenue of 3.463 billion yuan for the first three quarters of 2025, representing a year-on-year growth of 27.44% [1] - The net profit attributable to shareholders of the parent company reached 359 million yuan, marking a year-on-year increase of 38.08% [1] - The basic earnings per share stood at 2.48 yuan [1]

Core Insights - The company reported a revenue of 1,286,608,597.08 yuan for the third quarter of 2025, representing a year-on-year growth of 22.20% [1] - The net profit attributable to shareholders of the listed company was 137,561,635.58 yuan, showing a year-on-year increase of 22.34% [1] Financial Performance - Revenue for Q3 2025: 1,286.61 million yuan, up 22.20% year-on-year [1] - Net profit for Q3 2025: 137.56 million yuan, up 22.34% year-on-year [1]

一、募集资金基本情况 国泰海通证券股份有限公司 关于上海友升铝业股份有限公司 使用募集资金置换预先投入募投项目及已支付发行费用的 自筹资金的核查意见 国泰海通证券股份有限公司（以下简称"国泰海通"或"保荐人"）作为上 海友升铝业股份有限公司（以下简称"友升股份"、"公司"或"发行人"）首 次公开发行股票并在主板上市的保荐人，根据《证券发行上市保荐业务管理办法》 《上市公司募集资金监管规则》《上海证券交易所股票上市规则》《上海证券交 易所上市公司自律监管指引第 1 号——规范运作》等有关规定，对友升股份使用 募集资金置换预先投入募投项目及已支付发行费用的自筹资金事项进行了审慎 核查，具体核查情况如下： 经中国证券监督管理委员会《关于同意上海友升铝业股份有限公司首次公开 发行股票注册的批复》（证监许可〔2025〕1616 号）核准，公司首次公开发行 人民币普通股（A 股）股票 4,826.7111 万股，每股发行价格为人民币 46.36 元， 募集资金总额为人民币 223,766.33 万元，扣除各项发行费用后实际募集资金净额 为人民币 207,748.09 万元。上述募集资金到位情况已经中汇会计师事务所（特殊 ...

国泰海通证券股份有限公司（以下简称"国泰海通"或"保荐人"）作为上 海友升铝业股份有限公司（以下简称"友升股份"、"公司"或"发行人"）首 次公开发行股票并在主板上市的保荐人，根据《证券发行上市保荐业务管理办法》 《上市公司募集资金监管规则》《上海证券交易所股票上市规则》《上海证券交 易所上市公司自律监管指引第 1 号——规范运作》等有关规定，对友升股份使用 自有资金、银行承兑汇票、信用证等方式支付募投项目款项并以募集资金等额置 换事项进行了审慎核查，具体核查情况如下： 国泰海通证券股份有限公司 关于上海友升铝业股份有限公司 使用自有资金、银行承兑汇票、信用证等方式支付募投项目 款项并以募集资金等额置换的核查意见 一、募集资金基本情况 经中国证券监督管理委员会《关于同意上海友升铝业股份有限公司首次公开 发行股票注册的批复》（证监许可〔2025〕1616 号）核准，公司首次公开发行 人民币普通股（A 股）股票 4,826.7111 万股，每股发行价格为人民币 46.36 元， 募集资金总额为人民币 223,766.33 万元，扣除各项发行费用后实际募集资金净额 为人民币 207,748.09 万元。上述募集资金 ...

证券代码：603418 证券简称：友升股份 公告编号：2025-010 上海友升铝业股份有限公司 关于使用自有资金、银行承兑汇票、信用证等方式支 付募投项目款项并以募集资金等额置换的公告 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。 上海友升铝业股份有限公司（以下简称"公司"）于2025年10 月29日分别召开第二届董事会第十一次会议、第二届监事会第十一 次会议，均审议通过了《关于使用自有资金、银行承兑汇票、信用 证等方式支付募投项目款项并以募集资金等额置换的议案》，同意 公司及子公司在募投项目实施期间，根据实际需要并经相关审批后 使用自有资金、银行承兑汇票、信用证等方式支付募投项目所需资 金，之后定期以募集资金等额置换，并从募集资金专户划转至公司 及子公司一般账户，该部分等额置换资金视同募投项目已使用资金。 上述置换事项在自有资金、银行承兑汇票、信用证等方式支付后的 六个月内实施完毕。保荐人国泰海通证券股份有限公司（以下简称 "保荐人"）对前述事项出具了无异议的核查意见。现将有关情况 公告如下： 一、本次募集资金基本情况 ...