Core Viewpoint - Qin'an Co., Ltd. announced the resignation of Liu Hongqing as Vice General Manager due to internal work adjustments, while he will continue to serve as a director and hold a position in a subsidiary [1]. Summary by Sections - **Company Announcement** - The board of directors of Qin'an Co., Ltd. received a written resignation from Liu Hongqing, who is stepping down from his role as Vice General Manager [1]. - Liu Hongqing will remain a director of the company and will also work at the subsidiary, Chongqing Qin'an Casting Co., Ltd. [1].

重庆秦安机电股份有限公司 关于副总经理离任的公告 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法律责任。 重要内容提示： 证券代码：603758 证券简称：秦安股份 公告编号：2025-042 重庆秦安机电股份有限公司（以下简称"公司"）董事会于近日收到董事、 副总经理刘宏庆先生的书面辞呈，刘宏庆先生因公司内部工作调整原因申请辞去 公司副总经理职务。辞去副总经理职务后，刘宏庆先生将继续担任公司董事，并 在子公司重庆秦安铸造有限公司任职。 一、 提前离任的基本情况 特此公告。 重庆秦安机电股份有限公司董事会 2025 年 10 月 21 日 二、 离任对公司的影响 截至本公告披露日，刘宏庆先生不存在应当履行而未履行的承诺事项。根据 《上海证券交易所股票上市规则》《公司章程》等相关规定，刘宏庆先生辞去公 司副总经理职务的辞职报告自送达董事会之日起生效。刘宏庆先生已按照公司相 关规定做好交接工作，其辞职不会影响公司正常运作。 公司及公司董事会对刘宏庆先生在任职期间为公司发展所做出的贡献表示 衷心感谢！ | 姓名 | 离任 | 离任时 | 原 ...

Core Viewpoint - Qin'an Co., Ltd. announced the resignation of Liu Hongqing from the position of Vice General Manager due to internal work adjustments, while he will continue to serve as a director and hold a position in the subsidiary Chongqing Qin'an Casting Co., Ltd. [1] Summary by Sections - Resignation Announcement: The company's board received a written resignation from Liu Hongqing, who is stepping down as Vice General Manager [1] - Continued Role: Liu Hongqing will remain a director of the company and will work at the subsidiary Chongqing Qin'an Casting Co., Ltd. after resigning [1] - Effective Date: The resignation will take effect upon delivery to the board of directors [1]

Core Points - Qin'an Co., Ltd. (603758) experienced a limit down on the trading day, with a turnover rate of 5.71% and a transaction volume of 390 million yuan, reflecting a volatility of 11.37% [1] - The stock was listed on the Shanghai Stock Exchange due to a daily decline deviation of -10.10%, with a net sell-off of 35.619 million yuan from brokerage seats [1] - The company reported a revenue of 675 million yuan for the first half of the year, a year-on-year decrease of 13.18%, while net profit reached 80.387 million yuan, a year-on-year increase of 29.97% [2] Trading Activity - The top five brokerage seats accounted for a total transaction of 108 million yuan, with a buying amount of 36.3299 million yuan and a selling amount of 71.9489 million yuan, resulting in a net sell-off of 35.619 million yuan [1] - The largest buying and selling brokerage was Goldman Sachs (China) Securities, with buying and selling amounts of 9.7625 million yuan and 16.6081 million yuan, respectively [2] - The stock saw a net outflow of 3.2451 million yuan in principal funds, with a significant outflow of 8.42 million yuan from large orders, while large orders saw a net inflow of 5.1749 million yuan [1] Margin Trading - As of October 15, the margin trading balance for the stock was 188 million yuan, with a financing balance of 188 million yuan and a securities lending balance of 0.0033 million yuan [1] - Over the past five days, the financing balance increased by 30.1107 million yuan, reflecting a growth rate of 19.02%, while the securities lending balance increased by 0.0017 million yuan, with a growth rate of 111.67% [1]

Group 1 - Qin'an Co., Ltd. experienced a decline of 5.03% on October 16, with a stock price of 15.68 CNY per share and a trading volume of 161 million CNY, resulting in a total market capitalization of 6.88 billion CNY [1] - The company, established on September 5, 1995, and listed on May 17, 2017, specializes in the research, production, and sales of core components for automotive engines, including cylinder blocks, cylinder heads, and crankshafts [1] - The main business revenue composition includes: machining division 96.71%, casting division 58.96%, and others 2.34% [1] Group 2 - According to data, one fund from Fuyuan Fund holds a significant position in Qin'an Co., with Fuyuan Fuxin Mixed A (005164) holding 139,700 shares, accounting for 5.18% of the fund's net value, ranking as the sixth largest holding [2] - The fund has reported a floating loss of approximately 116,000 CNY today [2] - Fuyuan Fuxin Mixed A was established on March 16, 2018, with a current scale of 7.317 million CNY, and has achieved a year-to-date return of 12.98% [2]

证券代码：603758 证券简称：秦安股份 公告编号：2025-041 根据《上市公司重大资产重组管理办法》《公开发行证券的公司信息披露内 容与格式准则第 26 号——上市公司重大资产重组》《监管规则适用指引——上市 类第 1 号》《上海证券交易所上市公司自律监管指引第 6 号——重大资产重组》 等相关规定，公司对终止发行股份、支付现金购买资产并募集配套资金事项及继 续磋商以现金方式购买资产事项相关内幕信息知情人买卖公司股票的情况进行 了自查，具体情况如下： 一、内幕信息知情人自查期间和自查范围 (一)内幕信息知情人自查期间 本次交易的内幕信息知情人核查期间为公司《秦安股份发行股份及支付现金 购买资产并募集配套资金暨关联交易预案》披露之日起至披露《关于终止发行股 份、支付现金购买资产并募集配套资金事项及继续磋商以现金方式购买资产的公 告》之日止，即 2025 年 7 月 11 日至 2025 年 9 月 18 日。 (二)内幕信息知情人自查范围 本次核查的相关主体范围包括：公司及其董事、监事、高级管理人员；交易 对方、标的公司及相关知情人员；相关中介机构及具体业务经办人员；其他知悉 本次交易内幕信息的知情人员 ...

Core Viewpoint - The A-share market opened lower on October 10, but the National Free Cash Flow Index rebounded, indicating a potential positive trend in the market driven by external factors and sector-specific catalysts [1] Market Performance - The three major A-share indices opened lower, with the National Free Cash Flow Index rising approximately 0.5% after initial declines [1] - Key stocks such as Guodian Nanzi, Lianfa Shares, and Baiyin Nonferrous Metals hit the daily limit, while Qin'an Shares, Hailu Heavy Industry, Tubao, and Xinghuo Technology led the gains [1] ETF Activity - The largest free cash flow ETF (159201) followed the index upward, with trading volume exceeding 200 million yuan, indicating active market participation [1] - The ETF focuses on industry leaders with abundant free cash flow, covering sectors such as home appliances, automotive, non-ferrous metals, power equipment, and oil and petrochemicals, effectively mitigating single-industry volatility risks [1] Market Outlook - Dongwu Securities suggests that the market typically shows a "more gains than losses" pattern after long holidays, with early trading days before the holiday indicating a preemptive rebound [1] - Positive external news, particularly the rising expectations for Federal Reserve interest rate cuts and significant trends in the AI industry, are expected to influence market style towards sectors with strong growth potential and lower valuations [1] Fund Management - The free cash flow ETF (159201) has a management fee rate of 0.15% and a custody fee rate of 0.05%, both of which are among the lowest in the market [1]

Group 1 - The automotive parts sector experienced an initial rise on October 10, with several companies reaching their daily limit up, indicating strong market interest [1] - Notable companies that hit the limit up include Bluetech Technology, Shenda Co., Bohai Automobile, Qin'an Co., Yingli Automobile, and Sanlian Forging [1] - Other companies that saw gains include Daimai Co., Rongtai Co., Lizhong Group, and Haoneng Co., reflecting a broader positive trend in the sector [1]

Core Viewpoint - The company reported a decline in revenue for the first half of 2025, attributed to intensified industry competition and reduced order deliveries, while net profit showed a significant increase due to cost management and reduced share-based payment expenses [1][2]. Financial Performance - The company achieved operating revenue of 680 million yuan, a year-on-year decrease of 13.2% - The net profit attributable to shareholders was 80.39 million yuan, a year-on-year increase of 30.0% - The net profit after deducting non-recurring items was 83.82 million yuan, a year-on-year decrease of 14.8% [1]. Operational Analysis - The comprehensive gross profit margin was approximately 21.9%, a year-on-year decline of 2.4 percentage points - Sales, management, and R&D expenses all decreased year-on-year, primarily due to reduced share-based payment expenses from the employee stock ownership plan - Total R&D investment was 24.35 million yuan, showing growth year-on-year, indicating continued commitment to technological innovation [1][2]. Business Development - The automotive parts business remains a solid foundation, with ongoing market adaptation and development - The company has optimized its customer structure, covering major domestic and international clients such as Changan Ford, Li Auto, and North American Ford [1][2]. New Projects and Innovations - The company secured multiple new project orders from clients like Changan Ford and Li Auto, with the North American Ford cylinder body project transitioning to mass production - The company is expanding into hybrid power engine core components and electric motor housings, achieving a strong market share in the plug-in hybrid vehicle sector [2]. - Cost reduction and efficiency improvements have been realized through initiatives like a 6MW distributed photovoltaic project and optimized natural gas combustion efficiency [2]. Strategic Acquisitions - The company initiated the acquisition of 99% equity in Anhui Yigao Optoelectronics to establish a dual business model of automotive parts and vacuum coating - Yigao Optoelectronics is a high-tech enterprise in the vacuum coating field, with leading ultra-hard coating technology applicable to high-end consumer electronics [3]. - The strategic layout includes the development of electrochromic coating technology for applications in AR/VR and automotive windows, potentially creating new revenue streams [3]. Sensor Technology Investment - The company is investing in the sensor industry, acquiring a 5% stake in MoXian Technology, a leader in flexible tactile sensors - Future plans include investing in 3-5 additional sensor companies to build a technology matrix focused on high-end sensor applications [3]. Profit Forecast - The company forecasts net profits attributable to shareholders of 205 million yuan, 285 million yuan, and 361 million yuan for 2025-2027, with corresponding EPS of 0.47, 0.65, and 0.82 yuan - The automotive parts business is expected to benefit from increased penetration of new energy vehicles, growing overseas orders, and cost reduction efforts, while the new vacuum coating business and sensor investments are anticipated to contribute positively to future performance [4].

Core Viewpoint - Qin'an Co., Ltd. has decided to terminate the plan to acquire 99% of Anhui Yigao Optoelectronics Co., Ltd. through a share issuance and cash payment, opting instead for a cash purchase to enhance transaction efficiency and reduce costs [1][4]. Group 1: Transaction Details - The initial plan for the acquisition was disclosed in June, but the parties involved concluded that the share issuance method could not complete the transaction within the year [4]. - The decision to switch to a cash purchase aims to maintain the stability of Yigao's core team and allow for a quicker response to market demands [4]. - A transaction intention agreement was signed on September 17, 2025, with major shareholders of Yigao for the cash purchase of the company's entire equity [4][5]. Group 2: Company Background - Yigao was established on August 25, 2020, and specializes in the R&D, production, and sales of touch screens, coated conductive glass, and vacuum coating products [5]. - The company is led by its legal representative, Rao Yiran, who also holds executive positions in several related enterprises [5]. - Shenzhen Yuan Zhi Xing Huo Private Equity Fund is the second-largest shareholder with a 20.13% stake, controlled by the Shenzhen State-owned Assets Supervision and Administration Commission [5]. Group 3: Market Context and Performance - The demand for automotive display screens is increasing, expanding the market for Yigao's products, which could complement Qin'an's existing customer resources [6]. - Qin'an, founded in 1995 and listed on the Shanghai Stock Exchange in May 2017, primarily manufactures core components for automotive engines [6]. - In 2024, Qin'an reported a revenue of 1.6 billion yuan, a year-on-year decline of 8.04%, and a net profit of 173 million yuan, down 33.7%, marking the first dual decline since 2018 [6]. - For the first half of 2025, Qin'an's total revenue was 675 million yuan, a decrease of 13.18%, while the net profit attributable to shareholders was 80.39 million yuan, an increase of 29.97% [6].