Group 1: Board Changes - The company announced the resignation of non-independent director Li Zhongbing due to work adjustments, effective immediately upon submission of his resignation report [2][3] - Li Zhongbing's departure does not affect the minimum number of board members required by law and will not disrupt the company's normal operations [2][3] Group 2: Investment Overview - The company has established a wholly-owned subsidiary in Morocco named WBTL Morocco Automotive Safety Systems, with a total investment of $75 million, representing a 100% ownership by the company [5][6][7] - The subsidiary will engage in the production and sales of automotive parts, and the company has obtained necessary investment certificates and completed registration in Morocco [7][10] Group 3: Subsidiary Details - The subsidiary is registered as a single-shareholder simplified joint-stock company with a registered capital of 100,000 Moroccan Dirhams (MAD) [10] - The registered address is located in the Tangier Free Trade Zone, and the company will focus on manufacturing and selling automotive chassis [10] Group 4: Strategic Impact - The establishment of the subsidiary aligns with the company's strategic development goals, enhancing its international business expansion and overall competitiveness [10]

Group 1: Company Performance - WuXi AppTec reported a net profit of 8.561 billion yuan for the first half of the year, a year-on-year increase of 101.92% [1] - The company's revenue for the first half reached 20.799 billion yuan, reflecting a growth of 20.64% year-on-year [1] - WuXi AppTec plans to distribute a cash dividend of 3.5 yuan per share to all shareholders [1] - The company has revised its revenue forecast for the full year to between 42.5 billion and 43.5 billion yuan [1] - SANY Heavy Industry plans to issue non-financial corporate debt financing tools not exceeding 20 billion yuan to optimize its financing structure [1] Group 2: Film Industry Impact - Happiness Blue Sea announced that the film "Nanjing Photo Studio" has surpassed 412 million yuan in cumulative box office, exceeding 50% of the company's audited revenue for the most recent fiscal year [2] - The film's impact on the company's revenue is currently negligible as it is still in theaters [2] Group 3: Corporate Actions - Zhonghua Equipment plans to issue shares to acquire 100% equity of two companies, marking a significant asset restructuring [2] - Dahua Intelligent is under investigation by the China Securities Regulatory Commission for suspected violations of information disclosure [3] - Shiming Technology's actual controller and chairman has been placed under detention due to personal matters unrelated to the company [4] Group 4: Financial Performance - Ju Chen Co. reported a net profit growth of 43.5% for the first half of the year [6] - Qizheng Tibetan Medicine's net profit increased by 9.94% year-on-year [6] - China Minmetals' new contract value decreased by 19.1% year-on-year [6] - Huicheng Environmental's net profit declined by 85.63% year-on-year [6] Group 5: Mergers and Acquisitions - Kaishan Holdings plans to acquire a minority stake in SMGP for 3 million USD [6] - Zhonghua International intends to purchase 100% equity of Nantong Xingchen Composite Materials Co., Ltd. [6] - Xiangdian Co. plans to acquire a 12.5% stake in Tongda Electromagnetic Energy for 208 million yuan [6]

证券代码：603596 证券简称：伯特利 公告编号：2025-049 （二）离任对公司的影响 李中兵先生的离任并未导致公司董事会成员人数低于法定最低人数，李中兵先 生的辞职不会影响公司董事会的正常运行，不会对公司的日常运营产生不利影响。 李中兵先生不存在未履行完毕的公开承诺，并已按照公司的相关规定完成交接工作。 李中兵先生的辞职报告自送达董事会之日起生效。 按照相关法律法规及《公司章程》的规定，公司将尽快召开董事会进行非独立 董事的补选工作。 李中兵先生在公司任职期间，恪尽职守、勤勉尽责。公司董事会对李中兵先生 在任职期间为公司发展付出的努力和作出的贡献表示衷心感谢！ 芜湖伯特利汽车安全系统股份有限公司 关于董事离任的公告 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个别及连带 责任。 一、董事离任情况 芜湖伯特利汽车安全系统股份有限公司（以下简称"公司"）董事会近日收到 公司非独立董事李中兵先生递交的书面辞职报告。因工作调整，李中兵先生向董事 会提出辞去公司第四届董事会董事及董事会战略及可持续发展委员会委员职务。具 体情况如下： （ ...

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个别及连带责任。 重要内容提示： 投资标的名称：芜湖伯特利摩洛哥汽车安全系统公司（WBTL MOROCCO AUTOMOTIVE SAFETY SYSTEMS） 投资金额：项目总投资金额为 7,500 万美元，芜湖伯特利汽车安全系统股 份有限公司（以下简称"公司"）出资比例为 100%。 相关风险提示：摩洛哥王国（以下简称"摩洛哥"）的政策、法律、商业环 境与国内存在区别，公司本次在摩洛哥设立全资子公司，需要尽快适应摩洛哥的 商业和文化环境，子公司的设立与运营存在一定的风险。公司将努力控制相关风 险，及时做好信息披露工作。请广大投资者理性投资，注意投资风险。本次投资 不属于关联交易和重大资产重组事项。 一、对外投资概述 （一）对外投资的基本情况 证券代码：603596 证券简称：伯特利 公告编号：2025-048 芜湖伯特利汽车安全系统股份有限公司 对外投资暨设立摩洛哥全资子公司的公告 注册号码：003767077000017 注册日期：2025 年 7 月 23 日 根据公司发展及战略规划 ...

Investment Rating - The report maintains a "Recommended" investment rating for the automotive industry [7] Core Insights - The automotive industry is experiencing a gradual recovery in growth, with passenger vehicles continuing to show stable and rapid growth [2] - The report highlights the synergy between technological advancements and anti-involution reforms, driving the industry's development momentum [5] Summary by Sections Weekly Market Review (2025.07.19-07.25) - The automotive sector rose by 1.03% this week, with all related sub-sectors also increasing. The Shanghai and Shenzhen 300 index rose by 1.69% [13] - The commercial vehicle sector saw the highest increase at 4.22%, while individual stocks like Great Wall Motors and BYD also performed well [13][16] Data Tracking (2025.07.19-07.25) - From July 1-20, the national retail sales of passenger vehicles reached 978,000 units, a year-on-year increase of 11%, while wholesale sales were 960,000 units, up 22% year-on-year [21] - In the new energy vehicle segment, retail sales reached 537,000 units, a 23% increase year-on-year, with a penetration rate of 54.9% [21] Industry News (2025.07.19-07.25) - The Ministry of Industry and Information Technology proposed a new policy to ban the transfer of new cars to second-hand status within six months of registration to combat zero-kilometer second-hand cars [34][35] - Guangdong and Anhui provinces are implementing measures to promote fair competition in the automotive industry, including commitments from manufacturers to optimize payment processes for suppliers [42] Investment Recommendations - The report suggests focusing on technology-driven sectors such as artificial intelligence and autonomous driving, as well as opportunities in the anti-involution segment, particularly in dealership-related areas [5]

Investment Rating - The report maintains an "Overweight" rating for the automotive industry, indicating an expectation that the industry index will outperform the market index by more than 10% over the next six months [46]. Core Insights - The automotive industry is experiencing a continuous push towards "anti-involution," with recent policies aimed at regulating competition and preventing excessive price wars, which have been prevalent in the passenger car market for the past three years [2][41]. - The report highlights a significant increase in automotive production and sales, with June production reaching 2.794 million units, a year-on-year increase of 11.4%, and sales of 2.904 million units, up 13.8% year-on-year [17][18]. - The report suggests focusing on companies that enhance brand competitiveness through intelligent processes, such as BYD and Changan Automobile, as well as those in the intelligent driving supply chain, including Baolong Technology, Huayang Group, and Bertley [41][44]. Summary by Sections Automotive Industry Trends and Valuation Review - As of July 24, 2025, the Shenwan Automotive Index increased by 4.59% over the past two weeks, outperforming the CSI 300 Index by 1.12 percentage points, ranking 13th among 31 industries [10][12]. - Year-to-date, the automotive sector has risen by 12.55%, surpassing the CSI 300 Index by 7.11 percentage points, ranking 15th [10][12]. Industry Data Tracking - In June, automotive exports reached 592,000 units, marking a year-on-year increase of 22.1% [17][18]. - The dealer inventory warning index stood at 56.6%, reflecting a year-on-year decrease of 5.70 percentage points [17][18]. Industry News - The Ministry of Public Security announced plans to strengthen regulations on "intelligent driving" systems, emphasizing the need for responsible driving [27]. - The Ministry of Transport reported that the coverage rate of charging piles in highway service areas has reached 98.4% [29]. Corporate News - Li Auto has successfully adjusted its supplier payment terms to 60 days, enhancing its cash flow management [34]. - BYD celebrated the production of its 13 millionth new energy vehicle, with significant sales growth both domestically and internationally [35]. Investment Recommendations - The report recommends monitoring companies that are advancing intelligent processes and enhancing brand competitiveness, specifically BYD and Changan Automobile, as well as those in the intelligent driving supply chain [41][44].

Overview - Bethel Automotive Safety Systems Co., Ltd. is issuing convertible bonds totaling 280,200 million yuan (28,020,000 bonds) [4][8] - The bonds will be listed on the Shanghai Stock Exchange on July 28, 2025 [4][9] - The bonds have a maturity period from July 1, 2025, to June 30, 2031, with a conversion period from January 7, 2026, to June 30, 2031 [4][8] Company Information - The registered capital of Bethel Automotive Safety Systems Co., Ltd. is 606.51 million yuan [9] - The company was established on June 25, 2004, and went public on April 27, 2018 [9] - The company specializes in the research, manufacturing, and sales of automotive safety system components, electronic control modules, and related consulting services [9] Bond Details - The convertible bond is named "伯 25 转债" with the code 113696 [4][9] - The bonds are rated AA by Zhongzheng Pengyuan Credit Rating Co., Ltd., with a stable outlook [5][6] - The bonds are unsecured and will not provide any guarantees [5] Issuance Process - The issuance will prioritize existing shareholders, with any remaining bonds available to the public through the Shanghai Stock Exchange [8][9] - If the subscription amount is less than 280,200 million yuan, the lead underwriters will underwrite the shortfall [8] Historical Context - The company previously issued convertible bonds totaling 90,200 million yuan in 2021, which were listed on July 21, 2021 [20] - The company has a history of share repurchase and employee stock ownership plans, indicating a commitment to shareholder value [15][21][28]

股票简称：伯特利 证券代码：603596 芜湖伯特利汽车安全系统股份有限公司 Bethel Automotive Safety Systems Co.,Ltd. （中国（安徽）自由贸易试验区芜湖片区泰山路 19 号） 向不特定对象发行可转换公司债券 上市公告书 保荐人（主承销商） 中国国际金融股份有限公司 （住所：北京市朝阳区建国门外大街 1 号国贸大厦 2 座 27 层及 28 层） 联席主承销商 （住所：中国（上海）自由贸易试验区商城路 618 号） 二〇二五年七月 | | | | | | | | | 第一节 重要声明与提示 芜湖伯特利汽车安全系统股份有限公司（以下简称"伯特利"、"发行人"、"公司" 或"本公司"）全体董事、监事和高级管理人员保证上市公告书的真实性、准确性、完 整性，承诺上市公告书不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带 的法律责任。 根据《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》"）等有关法律、法规的规定，本公司董事、高级管理人员 已依法履行诚信和勤勉尽责的义务和责任。 中国证券监督管理委员会（以下简称"中国证监会 ...

Group 1 - The core viewpoint of the news is that Yushu Robotics has initiated its listing guidance, leading to active performance in related concepts [1] - As of July 21, 2025, the CSI Automotive Parts Theme Index (931230) has risen by 1.23%, with constituent stocks such as Construction Industrial (002265) up by 9.99%, Shuanglin Co. (300100) up by 6.12%, and Best (300580) up by 4.44% [1] - The Automotive Parts ETF (159306) has increased by 1.14%, with the latest price reported at 1.16 yuan, and has seen a cumulative increase of 3.71% over the past week as of July 18, 2025 [1] Group 2 - As of June 30, 2025, the top ten weighted stocks in the CSI Automotive Parts Theme Index (931230) include Huichuan Technology (300124), Fuyao Glass (600660), and Sanhua Intelligent Control (002050), collectively accounting for 41.05% of the index [2] - The Automotive Parts ETF (159306) has several off-market connections, including Ping An CSI Automotive Parts Theme ETF Connect A (022731), C (022732), and E (024542) [2]

Core Viewpoint - The announcement details the release of share pledges by Wuhu Berteli Automotive Safety Systems Co., Ltd., indicating a positive development in the company's shareholder structure and financial flexibility [1]. Shareholder Pledge Release - As of the announcement date, Wuhu Berteli Investment Management Center (Limited Partnership) holds 29,313,784 shares, accounting for 4.83% of the total share capital of the company [1]. - The shareholder has released a total of 980,000 shares from pledge, which represents 3.34% of their holdings and 0.16% of the company's total share capital [1]. - Following the release, the total number of pledged shares by Berteli Investment and its concerted actor Yuan Yongbin is now 0 shares [1]. Pledge Details - The release of the pledged shares occurred on June 30, 2025 [1]. - The remaining pledged shares are 0, indicating no current financial encumbrances on the shareholder's stake [1][4]. - The company will monitor the financial needs of the shareholder to determine if further pledges will be made in the future [1].