股权投资管理办法 隆鑫通用动力股份有限公司 （2025 年 10 月修订） 第一章 总则 （二）投资活动应当符合国家产业政策、公司战略规划以及公司主业发展 方向和结构调整。 （三）遵循价值创造理念，努力提高投资回报水平，节约投资成本，合理 安排投资结构，实现预期收益率。 第一条 为了规范隆鑫通用动力股份有限公司（以下简称"公司"）境内外 股权投资管理，提高股权投资决策质量和效率，防范股权投资管理风险，根据 《中华人民共和国公司法》（以下简称"《公司法》"）等有关法律法规以及《隆 鑫通用动力股份有限公司章程》（以下简称"《公司章程》"）、《隆鑫通用动力股 份有限公司对外投资管理制度》等有关规定，制定本管理办法。 第二条 本制度所述的股权投资，是指公司以货币或以实物资产、知识产权、 土地使用权、持有股权、债权等可以用货币估价并可以依法转让的非货币资产 作价出资，取得被投资企业的股权，作为出资人享有相应权益并承担相应义务 的行为，包括新设、增资、放弃同比例增资或减资、认购被投资单位可转换公 司债券/可交换公司债券、吸收合并、收购、换股等。 第三条 股权投资管理应当遵循以下原则： （四）投资规模应当与公司的行业经验、 ...

（2025 年 10 月修订） 第一章 总则 第一条 为加强隆鑫通用动力股份有限公司（以下简称"公司"）审计监督， 明确内部审计的宗旨、权限及职责，发挥内部审计工作在防范与控制经营风险、 强化内部控制、改善经营管理、提高经济效益中的作用，促进公司经营效率、经 济效益的提高，增加企业价值，根据《中华人民共和国审计法》、财政部等五部 委《企业内部控制基本规范》、中国内部审计协会《内部审计基本准则》、上海证 券交易所《上市公司自律监管指引》等相关法律、法规、规范性文件和公司《董 事会审计与风控委员会工作细则》的规定，结合实际情况制定本制度。 第二条 本办法适用于公司及下属全资子公司、控股子公司（以下统称"子 公司"）以及对公司具有重大影响的参股公司（以下简称"被审计对象"）。 隆鑫通用动力股份有限公司 内部审计制度 第三章 职责和权限 第三条 本制度所指内部审计是指由公司董事会、审计与风控委员会组织并 授权内部审计机构，对被审计对象的财务收支、经营活动、内部控制、风险管理， 实施独立客观的监督、评价和建议，以促进被审计对象完善治理、实现目标的活 动。 第二章 审计机构和人员 第四条 公司在董事会下设审计与风控委员会 ...

隆鑫通用动力股份有限公司 证券投资管理制度 （2025 年 10 月修订） 第一章 总则 第一条 为规范隆鑫通用动力股份有限公司（以下简称"公司"或"本公 司"） 证券投资行为，建立完善有序的投资决策管理机制，防范投资风险，提 高公司资金运作效率，强化风险控制，保护投资者的权益和公司利益，根据《中 华人民共和国公司法》（以下简称"《公司法》"）、《上海证券交易所股票上市 规则》（以下简称"《股票上市规则》"）等法律、法规和规范性文件以及公司 章程的有关规定，结合公司实际情况，特制定本制度。 第二条 本制度所称证券投资，是指在国家政策允许的范围内，公司及公司 控股子公司作为独立的法人主体，在控制投资风险的前提下，以提高资金使用效 率和收益最大化为原则，在证券市场投资有价证券的行为。证券投资具体包括新 股配售、申购、证券回购、股票及其衍生产品二级市场投资、可转换公司债券投 资、委托理财以及上海证券交易所认定的其他投资行为。 第三条 本制度旨在建立有效的控制机制，对本公司及控股公司在组织资源、 资产、投资等经营运作过程中进行风险控制，保障资金运营的安全性和收益性， 提高公司的抗风险能力。 第四条 公司的对外投资应遵 ...

隆鑫通用动力股份有限公司 信息披露事务管理制度 （2025 年 10 月修订） 第 1页，共 15页 目 录 第 2页，共 15页 第一章 总则 第二章 应当披露的信息 第一节 定期报告 第二节 临时报告 第三章 信息披露事务管理 第四章 公司各部门、子公司及分公司的职责 第五章 信息披露的程序 第六章 与中介机构的沟通 第七章 保密措施 第八章 档案管理及培训 第九章 处罚 第十章 附则 第一章 总则 1.1 为了规范公司及其他信息披露义务人的信息披露行为，加强信息披露事务管 理，提高信息披露事务管理水平和质量，确保信息披露的真实、准确、完整、及时、 公平，切实维护公司、股东及投资者的合法权益，根据《中华人民共和国公司法》《中 华人民共和国证券法》《上市公司治理准则》《上市公司信息披露管理办法》《上海证券 交易所股票上市规则》等法律、行政法规和规范性文件以及《隆鑫通用动力股份有限 公司公司章程》（以下简称《公司章程》）的规定，制定本制度。 1.2 本制度所称信息披露是指将可能对公司股票价格产生重大影响而投资者尚 未得知的重大信息，在规定时间内，通过规定的媒体，以规定的方式向社会公众公布， 并送达证券监管部门 ...

隆鑫通用动力股份有限公司 防范控股股东、实际控制人及其他关联方占用公司资金制度 （2025 年 10 月修订） 第一章 总 则 第一条 为了加强和规范隆鑫通用动力股份有限公司（以下简称"公司"） 的资金管理，建立防止控股股东、实际控制人及其他关联方占用公司资金的长效 机制，杜绝控股股东、实际控制人及其他关联方资金占用行为的发生，有效保护 公司、股东及其他利益相关人的合法权益，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》"）、 《上市公司监管指引第 8 号——上市公司资金往来、对外担保的监管要求》《关 于进一步做好清理大股东占用上市公司资金工作的通知》《上海证券交易所股票 上市规则》等法律、法规、相关规范性文件以及《隆鑫通用动力股份有限公司章 程》(以下简称"《公司章程》")的有关规定，特制定本制度。 第二条 本制度适用于公司及纳入公司合并会计报表范围的子公司与公司控 股股东、实际控制人及其他关联方之间的资金往来，上述资金往来应当严格按照 《上海证券交易所股票上市规则》和公司《关联交易管理制度》进行决策和实施。 公司董事、高级管理人员对维护公司资金安 ...

Industry Rating - The industry investment rating is maintained at "Outperform the Market" [1] Core Insights - In September 2025, total sales of two-wheeled fuel motorcycles reached 1.554 million units, representing a year-on-year increase of 11.8%. Exports were 1.174 million units, up 20.6%, while domestic sales were 380,000 units, down 8.8% [4][10] - For motorcycles above 250cc, sales in September were 87,000 units, a year-on-year increase of 13.1%. Exports were 53,000 units, up 39.0%, and domestic sales were 33,000 units, down 12.7% [4][10] - Electric motorcycle sales surged to 32,000 units in September, marking a significant year-on-year increase of 184.5% [20] - The all-terrain vehicle (ATV) domestic factory shipments reached 17,000 units, reflecting a year-on-year growth of 10.2% [20] Summary by Relevant Sections Overall Industry Performance - Total sales in September reached 1.554 million units, with a cumulative total of 12.816 million units for the year, showing a 13% year-on-year increase [5] - Exports for the entire industry were 1.174 million units, up 21%, while domestic sales were 380,000 units, down 9% [5] Two-Wheeled Fuel Motorcycles - Total sales for two-wheeled fuel motorcycles in September were 105,000 units, down 30% year-on-year, with exports at 97,000 units, down 31%, and domestic sales at 8,000 units, down 13% [22] - For motorcycles above 250cc, total sales were 12,000 units, up 30.1% year-on-year, with exports at 7,000 units, up 75.2%, and domestic sales at 5,000 units, down 7.5% [22] Key Companies - Changan Power reported 32,000 units in electric motorcycle sales, a 184.5% increase year-on-year [20] - Longxin General's total sales reached 25,400 units, a 29.6% increase year-on-year, with three-wheeled motorcycle sales at 25,000 units, up 29.6% [26] - Qianjiang Motorcycle's total sales for two-wheeled fuel motorcycles were 37,800 units, down 21% year-on-year, while sales for motorcycles above 250cc were 13,000 units, up 85% [32]

Group 1 - The core viewpoint of the news is that Longxin General has seen a stock price increase of 5.14% over the past three days, with a current price of 13.70 CNY per share and a market capitalization of 28.134 billion CNY [1] - Longxin General's main business includes motorcycles and engines (74.58% of revenue), general machinery products (22.41%), high-end components (1.26%), large commercial generator sets (1.03%), and others (0.72%) [1] Group 2 - According to data, a fund under CICC has Longxin General as its top holding, with a current holding of 49,200 shares, representing 0.87% of the fund's net value [2] - The CICC fund has achieved a year-to-date return of 33.07% and a one-year return of 37.79%, ranking 1461 out of 4219 and 1178 out of 3877 respectively [2] - The fund managers, Geng Shuaijun and Wang Yangfeng, have had varying tenures and performance, with Geng achieving a best return of 50.33% during his tenure [2]

Core Insights - Longxin General has seen a stock price increase of 5.14% over the past three days, closing at 13.70 CNY per share with a market capitalization of 28.134 billion CNY [1] Company Overview - Longxin General Power Co., Ltd. is located in Chongqing and was established on June 8, 2007, with its listing date on August 10, 2012 [1] - The company's main business segments include motorcycles and engines (74.58% of revenue), general machinery products (22.41%), high-end components (1.26%), large commercial generator sets (1.03%), and others (0.72%) [1] Fund Holdings - Tianhong Fund has a significant holding in Longxin General, with its Tianhong Guozheng 2000 Index Enhanced A fund (017547) being the largest shareholder, holding 43,600 shares, which constitutes 0.85% of the fund's net value [2] - The fund has generated a floating profit of approximately 10,500 CNY today and 29,200 CNY during the three-day price increase [2] Fund Performance - Tianhong Guozheng 2000 Index Enhanced A fund was established on March 23, 2023, with a current size of 27.0544 million CNY and has achieved a year-to-date return of 45.6% [2] - The fund's one-year return stands at 53.67%, ranking 487 out of 3,877 in its category [2]

Core Viewpoint - Chongqing's motorcycle giants, Longxin General and Zongshen Power, are experiencing significant profit growth under the leadership of Zuo Zongshen, with both companies expected to report substantial net profit increases by the third quarter of 2025 [2][8] Group 1: Company Performance - Longxin General and Zongshen Power are projected to achieve net profits of 15.2 billion to 16.2 billion yuan and 6.65 billion to 7.82 billion yuan respectively in the first three quarters of 2025, marking year-on-year increases of 69.13% to 80.26% and 70% to 100% [8] - In 2024, Zongshen Power's revenue reached 10.384 billion yuan, a year-on-year growth of 29.84%, with a net profit of 461 million yuan, up 27.45% [5] - Longxin General's "Wuji" brand has become a key driver of growth, with revenue from this series reaching 1.98 billion yuan in the first half of 2025, a 30.23% increase, and export sales rising by 83.31% [10] Group 2: Market Position and Strategy - Zongshen Power and Longxin General ranked second and third in motorcycle sales in China in 2024, with sales of 1.8 million and 1.54 million units respectively [2][6] - Zuo Zongshen has strategically focused on the motorcycle core business, avoiding diversification into real estate and mining, which has contributed to sustained growth [5] - The integration of Longxin General into Zongshen Power's operations has positioned the combined entity as the leading motorcycle manufacturer in China [2][6] Group 3: International Expansion - Longxin General has established a sales network with 1,292 outlets overseas, surpassing the 1,053 outlets in China, indicating a strong international presence [11] - Zongshen Power's domestic and international sales are nearly equal, with domestic sales accounting for 50.23% and international sales 49.77% [12] Group 4: Future Prospects - Zongshen Power is exploring opportunities in the low-altitude economy, with its aviation subsidiary, Zongshen Aviation, being one of the first private companies in China to successfully develop aviation engines [12] - Despite the positive outlook, Zongshen Power recently announced the termination of its IPO plans for Zongshen Aviation due to strategic considerations and market conditions [13]

Core Viewpoint - The "street vendor economy" sector saw a 0.55% increase on October 24, with Penghui Energy leading the gains. The Shanghai Composite Index closed at 3950.31, up 0.71%, while the Shenzhen Component Index closed at 13289.18, up 2.02% [1]. Group 1: Market Performance - The street vendor economy sector's stocks showed varied performance, with Penghui Energy (300438) closing at 38.39, up 12.19%, and a trading volume of 675,000 shares, amounting to 2.528 billion yuan [1]. - Other notable performers included Haorun Technology (002963) with a 6.30% increase, Digital Zhengtong (300075) up 5.65%, and Guoen Co., Ltd. (002768) rising by 5.17% [1]. Group 2: Capital Flow - The street vendor economy sector experienced a net outflow of 209 million yuan from institutional investors, while retail investors saw a net inflow of 293 million yuan [2]. - The capital flow data indicates that Penghui Energy had a net inflow of 172 million yuan from institutional investors, while Digital Zhengtong faced a net outflow of 440 million yuan from retail investors [3].