（编辑 楚丽君） 证券日报网讯 12月9日，爱玛科技在互动平台回答投资者提问时表示，公司电动三轮车产品涵盖休闲电 动三轮车、篷车电动三轮车、货运电动三轮车。公司一直以来致力于为广大消费者提供高品质的产品和 服务，根据市场需求、行业趋势、自身发展规划等研发、生产、销售产品，以更好地满足消费者。 ...

证券日报网讯12月9日，爱玛科技（603529）在互动平台回答投资者提问时表示，公司具备电机、电控 等核心部件的自主研发和制造能力，在电池系统集成与能效控制等应用技术领域处于行业领先水平。 ...

证券日报网讯12月9日，爱玛科技（603529）在互动平台回答投资者提问时表示，公司在欧美等区域推 进分销代理体系建设，推动产品适配与销售网络协同发展，稳步推进国际化布局。 ...

Group 1 - The report aims to summarize important internal deep reports, significant commentary, and marginal changes in the macro strategy group of large manufacturing [1] - Key companies highlighted include Yokogawa Precision, Zhejiang Rongtai, Shanghai Yanpu, Taotao Vehicle, Sany Heavy Industry, and XCMG Machinery among others [2][3] - The report maintains a positive outlook on the machinery sector, noting a 14% increase in excavator sales in November, which slightly exceeded expectations [4] Group 2 - The best-performing indices in the last week (December 1-5, 2025) included Nonferrous Metals (+5.35%), Communications (+3.69%), and Defense Industry (+2.82%) [5][20] - The top three indices in the large manufacturing sector were the Yangtze River Engineering Machinery Index (+5.47%), the ChiNext Index (+1.86%), and the Automotive Parts Index (+1.83%) [5][21] Group 3 - The report draws parallels between the current potential of humanoid robots and the past boom of electric vehicles, suggesting a similar macroeconomic backdrop and industry stage could lead to significant investment opportunities [8][9] - The expected market size for humanoid robots is projected to reach $700 billion by 2030, compared to an estimated $570 billion for electric vehicles in 2024 [8] - Investment opportunities are identified in core components and domestic manufacturers, with a focus on companies that meet three necessary conditions: management determination, past performance validation, and future application scenarios [9] Group 4 - The report discusses the rise of Hengli Heavy Industry as a new player in the shipbuilding sector, benefiting from an upturn in shipbuilding demand and improved profitability [10] - The global shipbuilding industry is expected to see a 34.9% increase in new orders in 2024, with specific segments like container ships and oil tankers showing significant growth [10] - Hengli Heavy Industry's competitive advantages include ample production capacity and an integrated supply chain, which are expected to support future performance [10][11] Group 5 - The report highlights the strategic moves of Meilixin, including a planned share buyback and a fundraising initiative aimed at expanding its liquid cooling and semiconductor projects [11][13] - The company is positioned to benefit from its partnerships in the server liquid cooling market, leveraging its manufacturing capabilities and established client relationships [11][13] - Future performance is anticipated to exceed market expectations due to the company's strategic focus on high-demand sectors such as telecommunications and electric vehicles [11][13]

Group 1 - The company emphasizes the importance of investor returns and has established a scientific, sustainable, and stable dividend mechanism to ensure reasonable returns for shareholders [2] - Since its listing, the company has conducted annual dividend distributions and is actively exploring a plan for multiple dividends within a year [2] - The mid-term dividend of 5.46 billion yuan for 2025 represents 45% of the net profit attributable to shareholders for the first half of 2025, showing a significant increase compared to the same period last year [2]

（文章来源：证券日报） 证券日报网讯 12月9日，爱玛科技在互动平台回答投资者提问时表示，截至2025年9月30日公司股东总 数（户）为31722户。 ...

（编辑 袁冠琳） 证券日报网讯 12月9日，爱玛科技在互动平台回答投资者提问时表示，公司持续以技术创新为核心驱动 力，围绕动力系统核心部件自主研发与智能化生态体系建设，推进整车性能与用户体验的全面升级。智 能化布局方面，公司聚焦智能控制、交互体验与骑行安全三大方向，持续推进"人-车-机-盔-云"多端协 同的智能生态体系建设，升级优化核心技术模块，提升用户使用的便捷性、互动性与安全性。 ...

Group 1 - The shared bicycle concept sector rose by 0.81%, ranking 8th among concept sectors, with 6 stocks increasing in value, including Xilong Health which hit the daily limit, and New Day Co., Shanghai Phoenix, and Hemei Group showing gains of 5.03%, 1.18%, and 0.24% respectively [1] - The main inflow of funds into the shared bicycle concept sector was 111 million yuan, with Xilong Health receiving the highest net inflow of 111 million yuan, followed by Hemei Group, Aima Technology, and New Day Co. with net inflows of 42.13 million yuan, 7.50 million yuan, and 3.85 million yuan respectively [2][3] - The net inflow ratios for Xilong Health, Hemei Group, and Aima Technology were 52.08%, 7.54%, and 4.52% respectively, indicating strong interest from main funds [3] Group 2 - The stocks with the largest declines included Yong'an Xing, Siwei Tuxin, and Keli Yuan, which fell by 1.80%, 1.66%, and 1.65% respectively [1][4] - The trading volume and turnover rates for the stocks in the shared bicycle sector varied, with Xilong Health showing a turnover rate of 7.01% and a price increase of 9.95%, while other stocks like Shanghai Phoenix and New Day Co. had lower turnover rates of 5.06% and 5.33% respectively [3][4]

Core Viewpoint - The electric bicycle industry in China is experiencing significant changes due to the implementation of new national standards aimed at enhancing safety and addressing rising accident rates, while also facing challenges related to market demand and product pricing [1][2][6]. Group 1: Industry Overview - The electric bicycle market has seen explosive growth in high-density cities, driven by the demand for last-mile transportation solutions [1]. - The new national standard, GB 17761—2024, was released to ensure extreme safety during storage, charging, and riding, following a rise in safety incidents [1]. - The new standards have led to a complete halt of old standard models, with over 600 models from more than 100 companies already certified under the new regulations [2][4]. Group 2: Market Dynamics - In 2024, the total sales of two-wheeled electric vehicles in China are projected to be 49.5 million units, reflecting an 11.6% year-on-year decline [6]. - Despite the downturn, the market is expected to rebound in 2025, supported by government subsidies and leading companies driving growth [6]. - Yadea, a market leader, reported a significant recovery in the first half of 2025, with revenue reaching 19.186 billion yuan, a 33.11% increase year-on-year, and net profit soaring by 59.5% to 1.649 billion yuan [6][8]. Group 3: Competitive Landscape - Yadea holds a market share of 26.3%, while Aima follows with 20%, together capturing nearly half of the market [8]. - The market concentration has increased, with the top five brands' market share rising from 64.1% to 70.8% year-on-year [8]. - Ninebot has emerged as a standout performer, with a revenue increase of 68.6% to 18.39 billion yuan and a net profit surge of 84.3% to 1.787 billion yuan in the first three quarters of 2025 [9]. Group 4: Product Innovations - The new standards have introduced stricter safety requirements, including a maximum speed limit of 25 km/h, which has sparked debate among consumers [13][27]. - Companies are focusing on smart technology integration, with features like remote control via mobile apps and advanced safety systems becoming standard [14][20]. - The introduction of AI and robotics technology into electric bicycles is expected to enhance user experience and safety, with companies like ShouDrive leading the way in innovation [17][19]. Group 5: Consumer Concerns - The implementation of the new standards has raised concerns about practicality, as consumers face challenges related to speed limitations, higher prices, and storage requirements [27]. - The industry must balance safety enhancements with consumer demands for convenience and usability, particularly in urban environments where electric bicycles serve as essential transportation [24][27].

Core Viewpoint - The implementation of the new electric bicycle safety standard (GB17761-2024) has led to discussions and concerns regarding compliance and product features, prompting responses from the China Bicycle Association and major brands in the industry [1][2]. Industry Response - The China Bicycle Association clarified that the new standard was developed through extensive research and public consultation, enhancing safety features and user experience while establishing clear boundaries for production and sales [2][3]. - Over 100 companies have produced more than 600 models that comply with the new standard, covering various consumer needs [2]. Product Features and Misunderstandings - Concerns about "metal seats," "not being able to carry children," and "emergency braking at high speeds" were addressed, with the association stating that these issues stem from misunderstandings of the standard [2][3]. - The majority of new models (over 70%) include rear racks suitable for carrying children, and the new models do not enforce emergency braking but rather limit speed at 25 km/h [3]. Brand Statements - Yadea, a leading brand, has launched 68 models that meet the new standard, focusing on comfort and safety for carrying children, and has clarified that the concerns raised are not reflective of the industry as a whole [4][5]. - Other brands like New Day and Aima have also released new models, emphasizing compliance with the new standard and addressing consumer concerns regarding features and pricing adjustments due to increased costs associated with new requirements [5][6].