Investment Rating - The report maintains an "Overweight" rating for the automotive industry, expecting the industry index to outperform the market index by over 10% in the next six months [46]. Core Insights - July automotive sales showed resilience despite being a traditional off-season, with strong year-on-year growth. The upcoming peak season in September and October is anticipated to further boost demand [12][42]. - The report highlights the impact of the new personal consumption loan subsidy policy, which includes a 1% subsidy for household vehicles, likely enhancing consumer purchasing power and driving sales growth [42]. - The automotive sector has seen significant stock performance, with the automotive index rising 6.06% over the past two weeks, outperforming the CSI 300 index by 1.85 percentage points [10][11]. Industry Data Tracking - In July, China's automotive production reached 2.591 million units, a year-on-year increase of 13.3%, while sales were 2.593 million units, up 14.6% year-on-year. Exports totaled 575,000 units, marking a 22.6% increase [17][18]. - The dealer inventory warning index stood at 57.2%, reflecting a year-on-year decrease of 2.20 percentage points [17]. - Raw material prices showed mixed trends, with steel prices down 2.09%, aluminum stable, copper up 0.60%, and lithium carbonate up 19.41% [18]. Industry News - The retail market for passenger vehicles from August 1 to 17 saw sales of 866,000 units, a 2% year-on-year increase [27]. - Shanghai is accelerating the application of robotics in key industries, including automotive, to enhance production efficiency [29]. - The first batch of autonomous smart connected taxis in Shanghai has commenced operations, indicating advancements in smart transportation [30]. Corporate News - China FAW Group is reportedly planning to acquire approximately 10% of Leap Motor's shares, indicating strategic investments in emerging automotive companies [35]. - Xpeng Motors reported a total revenue of 18.27 billion yuan for Q2 2025, a 125.3% year-on-year increase, highlighting strong growth in the electric vehicle segment [38]. - Li Auto achieved its first half-year profit, with a record gross margin, reflecting the company's successful market positioning [39]. Investment Recommendations - The report suggests focusing on manufacturers enhancing brand competitiveness through smart technology, such as BYD and Changan Automobile [42]. - It also highlights the potential growth in the smart driving industry chain, recommending companies like Baolong Technology, Huayang Group, and Bertel [42][43].

证券代码：603596 证券简称：伯特利 公告编号：2025-065 关于芜湖伯特利汽车安全系统股份有限公司 关于使用部分闲置募集资金进行现金管理的公告 | 产品名称 | 徽商银行大额存单 | | | | 2025 | 年第 | | 526 | 期 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 受托方名称 | | | | 徽商银行股份有限公司北京路支行 | | | | | | | 购买金额 | 11,000 万元 | | | | | | | | | | 产品期限 | 年 2025 19 | 8 | 月 | | 日-2026 | 年 | 月 8 | 19 | 日 | | 特别风险提示（如有请勾选） | 其他：不适用 | | | | | | | | | 4、工商银行结构性存款 | 产品名称 | 中国工商银行区间累计型法人人民币结构性 | | --- | --- | | | 存款产品-专户型 年第 期 款 2025 294 G | | 受托方名称 | 工商银行股份有限公司芜湖经济技术开发区 | | | 支行 | 本公司董事会及全体 ...

证券代码：603596 证券简称：伯特利 公告编号：2025-064 关于芜湖伯特利汽车安全系统股份有限公司 关于使用部分闲置募集资金进行现金管理的公告 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： 现金管理产品基本情况 1、建设银行大额存单 | 产品名称 | 建设银行单位大额存单 | | | | 2025 | | 年第 | 047 期 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 受托方名称 | 建设银行股份有限公司芜湖经济技术开发区 支行 | | | | | | | | | 购买金额 | 万元 5,000 | | | | | | | | | 产品期限 | 2025 年 月 年 | 8 | 18 | 日-2026 | | 8 月 | 18 | 日 | | 特别风险提示（如有请勾选） | 其他：不适用 | | | | | | | | 2、中国光大银行结构性存款 | 产品名称 | 2025 | | | | 年挂钩汇率对公结构性存款定制第八 ...

Investment Rating - The report maintains a "Recommended" rating for the automotive industry [4]. Core Insights - The automotive market in July showed strong terminal demand despite entering the traditional off-season, with a year-on-year increase in sales [9][10]. - The penetration rate of new energy vehicles (NEVs) in domestic passenger cars has reached a historical high, indicating a positive trend for future growth [9][10]. Summary by Sections 1. Biweekly Update - In July, the automotive production was 2.591 million units, a year-on-year increase of 13.3%, while sales were 2.593 million units, up 14.7% year-on-year [9]. - Domestic sales of passenger cars reached 2.018 million units, with a year-on-year increase of 12.6% [9]. - The NEV penetration rate in July was 54.5%, reflecting a recovery to levels seen in September-October 2024 [10]. 2. Market Review - The automotive sector's performance was ranked 10th among 30 industries, with a biweekly increase of 5.64% [11]. - The best-performing sub-sectors included motorcycles and others, with a biweekly increase of 16.76% [11][15]. 3. Industry News - The report highlights the reintroduction of vehicle replacement subsidies in regions like Gansu and Guangxi, which is expected to support domestic demand [9]. - The report anticipates continued growth in NEV sales, driven by new model launches and a weakening sales momentum for fuel vehicles [10]. 4. Investment Recommendations - Recommended stocks include BYD and Li Auto for complete vehicles, and Huayu Automotive and Bertel for components [6]. - The report also suggests investing in companies involved in the human-robot industry chain, such as Top Group and Sutech [6].

Group 1 - The company has approved the use of idle raised funds for cash management to enhance fund utilization efficiency and increase returns for shareholders [2][9][13] - The maximum amount for cash management is set at 1.3 billion RMB, with a usage period not exceeding 12 months, and the funds will be returned to the designated account upon maturity [7][9][13] - The cash management will involve low-risk, high-liquidity financial products such as structured deposits and large-denomination certificates of deposit [10][11] Group 2 - The company raised a total of 2.802 billion RMB through the issuance of convertible bonds, with a net amount of approximately 2.790 billion RMB after deducting issuance costs [6] - The cash management decision was made during the fourth board meeting held on July 30, 2025, and does not require shareholder approval as it falls within the board's authorized limits [9][13] - The company will ensure compliance with relevant regulations and maintain transparency in the management of idle funds [13][24]

中国北京市朝阳区建国路 77 号华贸中心 3 号写字楼 34 层 邮政编码 100025 电话: (86-10) 5809-1000 传真: (86-10) 5809-1100 北京市竞天公诚律师事务所 关于芜湖伯特利汽车安全系统股份有限公司 致：芜湖伯特利汽车安全系统股份有限公司 北京市竞天公诚律师事务所（以下称"本所"）接受芜湖伯特利汽车安全系统 股份有限公司（以下称"公司"）的委托，指派本所律师见证了公司于 2025 年 8 月 18 日下午 14:00 在芜湖伯特利汽车安全系统股份有限公司二楼会议室召开的 公司 2025 年第三次临时股东大会（以下称"本次股东大会"），并依据《中华人 民共和国公司法》《中华人民共和国证券法》等中国现行法律、法规和其他规范 性文件（以下称"中国法律法规"）及《芜湖伯特利汽车安全系统股份有限公司章 程》（以下称"《公司章程》"）的规定，就本次股东大会的召集和召开程序、出 席会议人员资格、召集人资格、会议表决程序和表决结果等事宜（以下称"程序 事宜"）出具本法律意见书。 为出具本法律意见书，本所律师审查了公司提供的有关本次股东大会的文件， 包括但不限于公司第四届董事会第九次 ...

| 证券代码：603596 公告编号：2025-063 证券简称：伯特利 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 芜湖伯特利汽车安全系统股份有限公司 | | | | | | | | 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 | 8 月 18 | 日 | | | | | (二)股东大会召开的地点：芜湖伯特利汽车安全系统股份有限公司二楼会议室 | | | | | | | | (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： | | | | | | | | (四)表决方式是否符合《公司法》及《公司章程》的规定，大会主持情况： | | | | | | | | ...

Core Viewpoint - The company plans to utilize part of its idle raised funds for cash management to enhance fund efficiency and increase returns for the company and its shareholders [1][2][5]. Group 1: Cash Management Overview - The purpose of cash management is to improve fund utilization efficiency without affecting the construction of fundraising projects and normal operations [2][5]. - The source of funds for cash management is temporarily idle raised funds [2]. - The company has approved a maximum amount of 1.3 billion yuan for cash management, with a usage period not exceeding 12 months [5][7]. Group 2: Cash Management Products - The company has invested 170 million yuan in a large-denomination certificate of deposit with a maturity from August 15, 2025, to August 15, 2026, with an expected annual yield of 1.40% [1][4]. - Additionally, 270 million yuan has been allocated to a structured deposit with a maturity from August 18, 2025, to October 20, 2025, with an expected yield of 0.65% to 1.50% [1][4]. Group 3: Approval Process - The company held the ninth meeting of the fourth board of directors and the ninth meeting of the fourth supervisory board on July 30, 2025, to approve the cash management proposal [5][6]. - The proposal was reviewed and received no objections from the sponsoring institution [5][6]. Group 4: Impact on the Company - The cash management of idle raised funds will not affect the normal construction of fundraising projects or the normal use of raised funds [7]. - The income generated from cash management will belong to the company and will be managed according to regulatory requirements [7].

证券代码：603596 证券简称：伯特利 公告编号：2025-062 关于芜湖伯特利汽车安全系统股份有限公司 关于使用部分闲置募集资金进行现金管理的公告 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： 现金管理产品基本情况 1、中信银行大额存单 | 产品名称 | 交通银行蕴通财富定期型结构性存款 63 （2699254313） | | | | | | | | 天 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 受托方名称 | 交通银行股份有限公司安徽自贸试验区芜湖 片区支行 | | | | | | | | | | 购买金额 | 27,000 万元 | | | | | | | | | | 产品期限 | 年 月 日 2025 | 8 | 月 | 18 | 日-2025 | 年 | 10 | 20 | | | 特别风险提示（如有请勾选） | 其他：不适用 | | | | | | | | | 1、资金来源的一般情况 已经履行的审议程序 ...

北京市竞天公诚律师事务所（以下称"本所"）接受芜湖伯特利汽车安全系统 股份有限公司（以下称"公司"）的委托，指派本所律师见证了公司于 2025 年 8 月 18 日下午 14:00 在芜湖伯特利汽车安全系统股份有限公司二楼会议室召开的 公司 2025 年第三次临时股东大会（以下称"本次股东大会"），并依据《中华人 民共和国公司法》《中华人民共和国证券法》等中国现行法律、法规和其他规范 性文件（以下称"中国法律法规"）及《芜湖伯特利汽车安全系统股份有限公司章 程》（以下称"《公司章程》"）的规定，就本次股东大会的召集和召开程序、出 席会议人员资格、召集人资格、会议表决程序和表决结果等事宜（以下称"程序 事宜"）出具本法律意见书。 为出具本法律意见书，本所律师审查了公司提供的有关本次股东大会的文件， 包括但不限于公司第四届董事会第九次会议决议、第四届监事会第九次会议决议 以及根据上述内容刊登的公告、关于召开本次股东大会的通知、本次股东大会资 料等，同时听取了公司就有关事实的陈述和说明，列席了本次股东大会。公司承 诺其所提供的文件和所作的陈述和说明是完整、真实和有效的，无任何隐瞒、疏 漏之处。 在本法律意见书中，本 ...