| 证券代码：603529 | 证券简称：爱玛科技 | 公告编号：2025-049 | | --- | --- | --- | | 转债代码：113666 | 转债简称：爱玛转债 | | 爱玛科技集团股份有限公司 关于 2024 年限制性股票激励计划部分限制性股票回购注销实 施公告 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： 回购注销原因：爱玛科技集团股份有限公司（以下简称"公司"）2024 年 限制性股票激励计划 10 名激励对象因个人原因离职，不再具备激励对象资格，公 司对其持有的已获授但尚未解除限售的限制性股票合计 270,000 股予以回购注销； 2024 年限制性股票激励计划第一个解除限售期解除限售条件未成就，激励对象对 应考核当年计划解除限售的限制性股票合计 3,591,000 股需由公司回购注销。综 上，本次限制性股票回购注销事项涉及激励对象 183 名，回购注销限制性股票共 计 3,861,000 股。 本次注销股份的有关情况 | 回购股份数量 | 注销股份数量 | 注销日期 | | | | ...

北京海润天睿律师事务所 关于爱玛科技集团股份有限公司 部分股权激励限制性股票回购注销实施的法律意见书 中国·北京 朝阳区建外大街甲14号广播大厦5层、9层、10层、13层、17层 邮政编码：100022 电话：010-65219696 传真：010-88381869 二〇二五年六月 所提供的副本或复印件与正本或原件内容一致，所有文件上的印章与签名都是真 实的。对于至关重要而又无法得到独立证据支持的事实，本所依赖有关政府部门、 爱玛科技或其他有关单位出具的证明文件作出合理判断。 北京海润天睿律师事务所 关于爱玛科技集团股份有限公司 部分股权激励限制性股票回购注销实施的法律意见书 致：爱玛科技集团股份有限公司 北京海润天睿律师事务所（以下简称"本所"）接受爱玛科技集团股份有限 公司（以下简称"爱玛科技"或"公司"）的委托，担任公司"2024 年限制性 股票激励计划"（以下简称"本激励计划"）的法律顾问。根据现行有效适用的 《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》"）、《上市公司股权激励管理办法》（以下简 称"《管理办法》"）等有关法律法规的规定，为公司回 ...

证券代码:603529 债券代码:113666 爱玛科技集团股份有限公司 2022 年公开发行可转换公司债券 证券简称:爱玛科技 债券简称:爱玛转债 受托管理事务报告 (2024 年度) 债券受托管理人 华泰联合证券有限责任公司 HUATAI UNITED SECURITIES CO.,LTD. 二〇二五年六月 1 重要声明 本报告依据《公司债券发行与交易管理办法》(以下简称"《管理办法》")、 《爱玛科技集团股份有限公司(作为发行人)与华泰联合证券有限责任公司(作 为受托管理人)关于爱玛科技集团股份有限公司公开发行可转换公司债券之债券 受托管理协议》(以下简称"《受托管理协议》")、《爱玛科技集团股份有限公司公 开发行可转换公司债券募集说明书》(以下简称"《募集说明书》")《爱玛科技集 团股份有限公司 2024年年度报告》等相关公开信息披露文件、第三方中介机构 · 出具的专业意见等,由本期债券受托管理人华泰联合证券有限责任公司(以下简 称"华泰联合证券")编制。华泰联合证券对本报告中所包含的从上述文件中引 述内容和信息未进行独立验证,也不就该等引述内容和信息的真实性、准确性和 完整性做出任何保证或承担任何责 ...

Core Points - The company, Aima Technology Group Co., Ltd., has maintained its credit rating of "AA" with a stable outlook for both its corporate credit and the "Aima Convertible Bonds" [1][2] - The tracking credit rating report was issued by China Chengxin International Credit Rating Co., Ltd. on June 24, 2025, confirming no changes from the previous rating [2] Group 1 - Previous rating results indicated a corporate credit rating of "AA" and a stable outlook, with the same ratings confirmed in the latest report [1][2] - The tracking credit rating report for Aima Technology was disclosed on the Shanghai Stock Exchange website on the same day as the announcement [2]

Core Viewpoint - The credit rating agency has maintained a stable credit rating for Aima Technology Group Co., Ltd, reflecting its strong market position and operational performance in the electric two-wheeler industry, despite challenges from new regulations and market competition [3][4][8]. Financial Performance - Aima's total assets increased to 242.60 billion yuan in 2024 from 233.19 billion yuan in 2023, while total debt decreased to 74.43 billion yuan from 80.41 billion yuan [4][6]. - The company's operating revenue for 2024 was 216.06 billion yuan, a 2.71% increase from 210.36 billion yuan in 2023, with a net profit of 20.13 billion yuan, up from 18.96 billion yuan [6][15]. - The EBITDA for 2024 was reported at 31.66 billion yuan, indicating strong cash generation capabilities [6][7]. Market Position - Aima ranks second in the electric two-wheeler industry, with its market share narrowing the gap with the industry leader, Yadea Group [4][8]. - The company has effectively responded to the implementation of the new national standards, improving its operational efficiency metrics compared to competitors [7][23]. Production and Capacity - Aima's production capacity increased by 19.28% to 12.64 million units in 2024, although the capacity utilization rate fell to 85.44% due to rapid capacity expansion [7][21]. - The company has ongoing investments in new production bases, with significant capital expenditures planned for 2024 and beyond, totaling an estimated 80.45 billion yuan for various projects [18][19]. Industry Environment - The electric two-wheeler industry is experiencing increased concentration due to new regulations and the implementation of a vehicle replacement policy, which is expected to stimulate demand in 2025 [11][12]. - The new national standards, effective from September 2025, will require companies to enhance product quality and performance, potentially leading to further industry consolidation [13][14]. Research and Development - Aima has increased its R&D investment, with 2024 R&D expenditure amounting to 65.87 million yuan, representing 3.05% of its operating revenue, ranking second among major competitors [21][22]. - The company continues to innovate and adapt to market demands, launching new models that align with consumer preferences and regulatory requirements [21].

Core Viewpoint - Aima Technology has been selected as the sponsor vehicle brand for the 2025 Summer Davos Forum in Tianjin, showcasing its leadership in the global electric two-wheeler market and the appeal of Chinese electric vehicles in terms of environmental friendliness, fashion, and smart technology [1][2]. Group 1: Event and Sponsorship - The 2025 Summer Davos Forum will take place from June 24 to 26 in Tianjin, China, with Aima Technology's Zero M20 electric assist bike being the designated sponsor vehicle [1]. - Aima Technology was previously the only designated two-wheeled electric vehicle brand for the 2023 Summer Davos Forum, marking its continued prominence in international events [1][2]. Group 2: Market Trends - The global electric two-wheeler market is projected to grow at a compound annual growth rate (CAGR) of 34.57% from 2023 to 2030, surpassing $100 billion [2]. - China, as the largest producer and consumer of two-wheeled electric vehicles, holds a significant advantage in the new energy industry chain, positioning its companies favorably in this billion-dollar market [2]. Group 3: Company Strengths - Aima Technology has been recognized by Frost & Sullivan as a leading global brand in electric two-wheelers, reflecting its transition from a focus on sales volume to a comprehensive strength in technology, branding, and global operations [3]. - The company emphasizes a sustainable competitive system through continuous efforts in technological innovation, brand building, and market expansion [3]. Group 4: Product Features - The Zero M20 electric assist bike is designed for high-frequency short-distance travel, featuring a quick folding mechanism, smart controllers, and a reliable gear system, catering to the increasing consumer demand for vehicle performance and personalization [4]. - The bike's design incorporates lightweight and durable magnesium alloy, enhancing user experience by allowing easy handling and dynamic power output adjustments [4]. Group 5: Future Outlook - Aima Technology aims to enhance its global market influence by continuously innovating in products, technology, and channels, thereby creating exceptional travel experiences for users [4].

| 证券代码：603529 | 证券简称：爱玛科技 | 公告编号：2025-048 | | --- | --- | --- | | 转债代码：113666 | 转债简称：爱玛转债 | | 爱玛科技集团股份有限公司 关于"爱玛转债"2025 年跟踪评级结果的公告 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： 本次信用跟踪评级报告《爱玛科技集团股份有限公司相关债券 2025 年跟踪 评级报告》已与本公告同日披露于上海证券交易所网站（www.sse.com.cn）。 特此公告。 前次评级结果：公司主体信用等级为"AA"；评级展望为"稳定"；"爱 玛转债"信用等级为"AA" 本次评级结果：公司主体信用等级为"AA"；评级展望为"稳定"；"爱 玛转债"信用等级为"AA" 根据《上市公司证券发行注册管理办法》《公司债券发行与交易管理办法》 等有关规定，爱玛科技集团股份有限公司（以下简称"公司"）委托信用评级机 构中证鹏元资信评估股份有限公司（以下简称"中证鹏元"）对公司及公司 2023 年 2 月公开发行可转换公司债券（ ...

爱玛科技集团股份有限公司相关 债券 2025 年跟踪评级报告 中鹏信评【2025】跟踪第【120】号 01 信用评级报告声明 除因本次评级事项本评级机构与评级对象构成委托关系外，本评级机构及评级从业人员与评级对象不存 在任何足以影响评级行为独立、客观、公正的关联关系。 本评级机构与评级从业人员已履行尽职调查义务，有充分理由保证所出具的评级报告遵循了真实、客观、 公正原则，但不对评级对象及其相关方提供或已正式对外公布信息的合法性、真实性、准确性和完整性 作任何保证。 本评级机构依据内部信用评级标准和工作程序对评级结果作出独立判断，不受任何组织或个人的影响。 本评级报告观点仅为本评级机构对评级对象信用状况的个体意见，不作为购买、出售、持有任何证券的 建议。本评级机构不对任何机构或个人因使用本评级报告及评级结果而导致的任何损失负责。 本次评级结果自本评级报告所注明日期起生效，有效期为被评证券的存续期。同时，本评级机构已对受 评对象的跟踪评级事项做出了明确安排，并有权在被评证券存续期间变更信用评级。本评级机构提醒报 告使用者应及时登陆本公司网站关注被评证券信用评级的变化情况。 本评级报告版权归本评级机构所有，未经授权 ...

Core Viewpoint - The 2025 New Fortune 500 Rich List reveals a significant increase in the total market value of listed entrepreneurs, reaching 13.7 trillion yuan, an 11% year-on-year growth, indicating a new wave of wealth creation driven by innovation and overseas expansion [3][14]. Group 1: Wealth Distribution and Rankings - The top ten wealthiest individuals are heavily influenced by AI, with Zhang Yiming of ByteDance topping the list with a holding value of 481.57 billion yuan, marking a 42% increase from the previous year [4][18]. - The list features a notable shift, with four individuals from Hangzhou, Zhejiang, highlighting the region's growing economic prominence [43]. - The average holding value of the 500 entrepreneurs is 273.8 million yuan, with a threshold of 66.2 million yuan to make the list [8]. Group 2: Industry Insights - The TMT (Technology, Media, and Telecommunications), pharmaceutical, and daily consumer goods sectors are the top three wealth-generating industries, contributing 110, 54, and 52 individuals respectively [51]. - The TMT sector saw a significant increase in wealth, with a total of 334.08 billion yuan, a 46% increase from the previous year [51]. - The pharmaceutical sector experienced a decline, with 54 individuals listed, down from 64, indicating ongoing valuation adjustments [51]. Group 3: AI and Technological Advancements - AI has emerged as a key driver of wealth creation, with companies like DeepSeek and ByteDance leading the charge in user engagement and valuation [4][21]. - The rise of AI has also led to a resurgence in the semiconductor industry, with China exporting 2.981 billion chips worth approximately 159.5 billion USD, marking a significant shift in the global market [56]. - The AI sector is still in its nascent stage, with notable entries like Liang Wenfeng of DeepSeek entering the top ten, reflecting the rapid growth and potential of AI applications [60]. Group 4: Regional Wealth Creation - Wealth creation is becoming more balanced across regions, with western provinces like Sichuan, Tibet, and Xinjiang seeing an increase in listed individuals, while traditional economic hubs like Zhejiang and Shanghai continue to grow [5][6]. - The shift from real estate to technology and AI reflects a broader transformation in China's economic landscape, with younger entrepreneurs increasingly dominating the wealth rankings [46][45]. Group 5: Future Outlook - The ongoing evolution of industries, particularly in AI and technology, suggests a promising future for innovation-driven wealth creation in China [60][62]. - The integration of AI into various sectors, including automotive and consumer electronics, is expected to further enhance China's competitive edge in the global market [62][63].

Investment Rating - The report suggests a focus on companies with high earnings growth certainty and relatively high dividend support in the domestic furniture sector, as well as certain export companies with strong growth logic or overseas production capacity advantages [4][9]. Core Insights - The furniture retail sales in China saw a year-on-year increase of 25.6% in May, with a cumulative increase of 21.4% from January to May. However, the overall order situation has weakened since June, indicating a potential fatigue in demand stimulation from national subsidies [4][9]. - In the new tobacco sector, the glo hilo product launched in Japan is expected to accelerate revenue growth in the second half of 2025, supported by strong marketing resources from BAT [4][12]. - The paper packaging sector is experiencing price stability, with a focus on growth-oriented packaging companies. The report highlights the need to monitor the performance of major paper types and the overall supply pressure in the market [4][15]. - The light consumer goods and pet sectors are seeing increased online competition, with a focus on companies that demonstrate clear growth narratives and operational capabilities [4][16]. - The two-wheeler market is expected to see a rebound in the second half of the year, driven by new national standards and product launches, despite a temporary slowdown due to subsidy fund exhaustion [4][19]. Summary by Sections Furniture Sector - Domestic retail sales of furniture increased by 25.6% in May, with a cumulative increase of 21.4% from January to May. However, the order situation has weakened since June, indicating potential fatigue in demand stimulation [4][9]. - Recommended companies include Sofía, Gujia Home, Mousse, and others, focusing on those with high earnings growth certainty and dividend support [4][9]. New Tobacco - The glo hilo product launched in Japan is expected to accelerate revenue growth in the second half of 2025, with strong marketing support from BAT [4][12]. - Recommended companies include Smoore International, which is expected to benefit from the expansion of the overseas compliant market [4][12]. Paper and Packaging - The paper sector is experiencing price stability, with major paper types showing no significant improvement in orders. The report emphasizes the importance of monitoring growth-oriented packaging companies [4][15]. - Recommended companies include Yutong Technology and others, focusing on those with stable operations and growth potential [4][15]. Light Consumer Goods & Pets - The light consumer goods sector is seeing increased online competition, with a focus on companies that demonstrate clear growth narratives and operational capabilities [4][16]. - Recommended companies include Guibao Pet and others, focusing on those with resilient consumer demand and growth potential [4][16]. Two-Wheeler Market - The two-wheeler market is expected to see a rebound in the second half of the year, driven by new national standards and product launches, despite a temporary slowdown due to subsidy fund exhaustion [4][19]. - Recommended companies include Yadi Holdings and others, focusing on those with strong product capabilities and market expansion potential [4][19].