（文章来源：证券日报） 证券日报网讯 9月9日晚间，爱玛科技发布公告称，公司于2025年9月9日召开职工代表大会，会议一致 同意选举李琰女士为公司第六届董事会职工董事，任期自职工代表大会通过之日起至公司第六届董事会 任期届满之日止。 ...

每经AI快讯，爱玛科技（SH 603529，收盘价：36.13元）9月9日晚间发布公告称，公司第六届2025年第 二次董事会临时会议于2025年9月9日以现场结合通讯表决方式召开。会议审议了《关于聘任董事会秘书 的议案》等文件。 2024年1至12月份，爱玛科技的营业收入构成为：铁路和船舶和航空航天和其他运输设备制造业占比 98.8%，其他业务占比1.2%。 截至发稿，爱玛科技市值为314亿元。 每经头条（nbdtoutiao）——雷军挥泪"斩"王腾，小米爱将泄密"失街亭"，大厂正风肃纪"拼牙口" （记者 曾健辉） ...

爱玛科技集团股份有限公司 关于董事会完成换届选举及聘任高级管理人员等的公告 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、准确性和完整性依法承担法律责任。 爱玛科技集团股份有限公司（以下简称"公司"）于 2025 年 9 月 9 日召开 2025 年第二次临时股东大会，选举产生公司第六届董事会非独立董事 5 名、独 立董事 3 名，前述董事与公司职工代表大会选举产生的 1 名职工董事共同组成公 司第六届董事会。同日，公司召开第六届董事会第一次会议，选举产生第六届董 事会董事长和副董事长、各专门委员会委员，并聘任了高级管理人员和证券事务 代表。现将具体情况公告如下： 一、公司第六届董事会组成情况 | 证券代码：603529 | 证券简称：爱玛科技 | 公告编号：2025-073 | | --- | --- | --- | | 转债代码：113666 | 转债简称：爱玛转债 | | 1、第六届董事会成员 董事长：张剑先生 副董事长：段华女士 非独立董事：张剑先生、段华女士、张格格女士、高辉先生、彭伟先生 独立董事：孙明贵先生、刘俊峰先生、马军生先生 职工董事 ...

| 证券代码：603529 | 证券简称：爱玛科技 | 公告编号：2025-071 | | --- | --- | --- | | 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 特此公告。 爱玛科技集团股份有限公司董事会 2025 年 9 月 10 日 爱玛科技集团股份有限公司（以下简称"公司"）于 2025 年 9 月 9 日召开 2025 年第二次临时股东大会，审议通过《关于取消监事会、变更注册资本并重 新制定<公司章程>的议案》，同意公司不再设立监事会。同时，根据《公司法》 及公司重新制定的《公司章程》等相关规定，公司设 1 名职工董事，由公司职工 通过职工代表大会、职工大会或者其他形式民主选举产生，无需提交股东会审议。 公司于 2025 年 9 月 9 日召开职工代表大会，会议一致同意选举李琰女士为 公司第六届董事会职工董事，任期自职工代表大会通过之日起至公司第六届董事 会任期届满之日止。李琰女士简历如下： 李琰女士，1983 年出生,中国国籍,无境外永久居留权,本科学历。曾任公司 采购部供应商管理科科长,副董事长秘书,品牌管理中心改善办主任,副董事长办 公室主任， ...

2025 年第二次临时股东大会的法律意见书 中国·北京 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 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 二〇二五年九月 1 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 2025 年第二次临时股东大会的法律意见书 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"公司"）的委托，指派杨雪律师、王佩琳律师出席公司 2025 年第二次临时股东大会，并依据《中华人民共和国公司法》（以下简称"《公司 法》"）、《上市公司股东会规则》（以下简称"《股东会规则》"）等相关法 律、法规、规范性文件及《爱玛科技集团股份有限公司章程》（以下简称"《公 司章程》"）的规定，就公司本次股东大会的召集、召开程序、出席会议人员的 资格、召集人资格、会议的表决程序和表决结果等有关事宜出具本法律意见书。 对本法律意见书的出具，本所律师特作如下声明： 1．本所律师仅就本次会议的召集、召开程序、出席会议人员的资格 ...

| 证券代码：603529 | 证券简称：爱玛科技 | 公告编号：2025-070 | | --- | --- | --- | | 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 2025年第二次临时股东大会决议公告 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： 本次会议是否有否决议案：无 一、会议召开和出席情况 (一)股东大会召开的时间：2025 年 9 月 9 日 (二)股东大会召开的地点：天津市和平区大沽北路 2 号环球金融中心 22 层 会议室 (三)出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： | 1、出席会议的股东和代理人人数 | 374 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 618,125,366 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股份总数的比例（%） | 71.1267 | 2、公司在任监事3人，出席3人，因工作原因，监事刘庭序、李琰以通讯方 式出席会议； 3、董事会秘 ...

| 证券代码：603529 | 证券简称：爱玛科技 | 公告编号：2025-072 | | --- | --- | --- | | 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 第六届董事会第一次会议决议公告 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。 爱玛科技集团股份有限公司（以下简称"公司"）于 2025 年 9 月 9 日召开 2025 年第二次临时股东大会，选举产生公司第六届董事会非独立董事、独立董 事，与公司职工代表大会选举产生的职工董事共同组成公司第六届董事会。公司 第六届董事会第一次会议于同日以现场结合通讯表决方式召开，全体董事已同意 豁免通知时限。公司董事共 9 人，应当出席董事 9 人，实际出席董事 9 人。全体 董事共同推举董事张剑先生主持本次会议。会议召开符合《公司法》《公司章程》 及有关法律、法规的规定。与会董事审议通过如下决议： 一、审议通过了《关于选举公司第六届董事会董事长、副董事长的议案》 同意选举张剑先生为公司董事长，选举段华女士为公司副董事长，任期三年， ...

Summary of Aima Technology Conference Call Company Overview - Aima Technology is a leading player in the electric two-wheeler industry, holding a domestic market share of approximately 20%, ranking second after Yadea [3][13]. Key Points and Arguments Industry Dynamics - The electric two-wheeler industry is experiencing supply-side optimization driven by the implementation of new national standards and a global vehicle replacement policy, which encourages higher quality and higher-priced electric vehicles [2][7][8]. - The new national standards focus on enhancing safety and practicality, such as increasing vehicle weight limits and mandating the installation of safety systems [8]. Product and Technology Upgrades - Aima Technology has upgraded its products through advancements in battery, motor, and control technologies, leading to an increase in average product prices. The introduction of the Engine Max system and the Saber Tooth series exemplifies this [2][4]. - The company has adopted a strategy of integrating basic smart features into lower-priced models while offering advanced functionalities in mid-range models, allowing it to compete effectively against new entrants in the smart vehicle market [5]. Sales and Market Position - Aima's revenue for 2022, 2023, and 2024 is projected to be 20.8 billion, 21 billion, and 21.6 billion respectively, reflecting year-on-year growth of 35%, 1%, and 3% [3]. - The net profit margin is expected to improve to 9.2% by 2024 due to product structure optimization and cost control [3]. Consumer Base Expansion - Aima is optimizing its user profile by expanding its product line to include more male-oriented models and enhancing store structures by eliminating inefficient outlets and upgrading stores in first and second-tier cities [6]. - The company has over 30,000 stores, solidifying its presence in lower-tier markets while upgrading its offerings in urban areas [6]. Future Growth Directions - Aima's future growth strategies include launching the sub-brand "Zero Season" to target the high-end market, expanding its three-wheeler business, and exploring international markets in Southeast Asia and Europe [9][12]. - The company aims to strengthen its brand influence while enhancing store scale and quality in first and second-tier cities [9]. Production and Sales Trends - Aima's three-wheeler sales are projected to grow from 260,000 in 2022 to 550,000 in 2024, with year-on-year increases of 28%, 63%, and 29% respectively [10]. - The company is poised to capture market share as local governments phase out non-compliant models and promote vehicle replacements [10]. International Business Development - Aima's overseas business is in its early stages, with international revenue accounting for only 1% of total revenue in 2024. The company is focusing on Southeast Asia and select European markets [11]. - Aima has established over 100 offline stores in Indonesia and is collaborating with local distributors in Vietnam, while also participating in international exhibitions to enhance brand visibility [11]. Financial Outlook - Aima's dividend payout is expected to increase by 123% year-on-year in the first half of 2025, with a cash dividend of approximately 550 million yuan, reflecting a 45% payout ratio [12]. - The company anticipates continued improvement in cash flow and a reduction in capital expenditures, which will support further increases in dividend rates [12]. Additional Important Insights - Aima Technology's strategic focus on high-end product development, three-wheeler business expansion, and international market penetration positions it well for future growth amid evolving industry dynamics [9][12].

Investment Rating - The investment rating for the company is "Buy" (maintained) [3][10][16] Core Views - The company is expected to see a strong performance in H2 2025, with revenue and profit forecasts adjusted upwards due to robust demand and favorable market conditions [10][12] - The company reported a revenue of 6.8 billion yuan in Q2 2025, representing a 21% year-on-year increase, and a net profit of 610 million yuan, up 31% year-on-year, aligning with market expectations [4] - The company is well-positioned to benefit from the increasing industry concentration and its compliance with national subsidy application requirements [6][10] Financial Performance Summary - Revenue projections for 2025 and 2026 are 27.4 billion yuan and 30.7 billion yuan, respectively, reflecting growth rates of 27% and 12% [3][10] - The net profit estimates for 2025 and 2026 are 2.6 billion yuan and 3.2 billion yuan, indicating growth rates of 32% and 22% [3][10] - The earnings per share (EPS) are projected to be 3.01 yuan for 2025 and 3.67 yuan for 2026 [3][10] Market and Industry Outlook - The industry is transitioning to a high-end and intelligent growth phase, with expected sales reaching 70 million units post-2025, indicating a 10-15% growth [9] - The company has a strong lineup of over 10 new models compliant with the new national standards, expected to launch in September, which may positively impact sales [8][10]

Core Viewpoint - The company reported its semi-annual results, which met market expectations, showing significant growth in revenue and net profit [1] Group 1: Financial Performance - In Q2, the company achieved revenue of 6.8 billion yuan, representing a 21% year-on-year increase, and a net profit of 610 million yuan, up 31% [1] - The average single-unit sales revenue growth was 26% in Q1 and 21% in Q2, while the sales volume growth was 19% in Q1 and 17% in Q2 [2] - The average selling price (ASP) increased by 5% in Q1 and 3% in Q2, with single-unit gross profit at 415 yuan in Q1 and 389 yuan in Q2 [2] Group 2: Market Position and Competitive Advantage - The company has a significant advantage in claiming national subsidies, with over 70% of its stores meeting the qualification requirements [3] - The company is well-positioned to benefit from the increasing concentration in the industry [3] Group 3: Outlook for H2 - The regulatory environment is expected to have a limited impact on terminal sales, particularly in second-tier cities [4] - Strong demand is anticipated in Q3 due to dealers stocking up on older standard vehicles, leading to higher channel inventory [4] - The company has over 10 new models ready for the new national standards, expected to launch in September, with an estimated cost increase of 50-100+ yuan per unit [4] Group 4: Investment Recommendations - The company expects an acceleration in average selling prices in H2, with strong sales performance anticipated in Q3 and limited impact from new standards in lower-tier cities [5] - Revenue forecasts for 2025 and 2026 have been adjusted to 27.4 billion yuan and 30.7 billion yuan, reflecting increases of 27% and 12% respectively [5] - The projected net profit for 2025 and 2026 is 2.6 billion yuan and 3.2 billion yuan, with corresponding growth rates of 32% and 22% [5]