Core Viewpoint - The company, Longxin General (603766.SH), confirmed that there is currently no collaboration with Hangzhou Yushu Technology Co., Ltd. [2] Company Summary - Longxin General responded to an investor inquiry on an interactive platform regarding potential cooperation with Hangzhou Yushu Technology Co., Ltd. [2] - The company stated that as of August 4, there is no existing partnership with Hangzhou Yushu Technology Co., Ltd. [2]

登录新浪财经APP 搜索【信披】查看更多考评等级 2025年7月31日，重庆发展管理权正式移交至产业引导基金，并纳入产业引导基金并表企业。产业引导 基金为重庆科技创新投资集团有限公司100%持股的子公司，重庆科技创新投资集团有限公司为渝富控 股100%持股的子公司，重庆发展持有5,036,254股公司股份。上述管理权移交事项将导致公司股东权益 变动，本次权益变动后，渝富控股持有公司318,709,695股股份，与重庆发展合计持有公司323,745,949股 股份，占公司总股本的15.77%。 二、股东基本情况 （一）重庆渝富控股集团有限公司基本情况 ■■ 本公司董事会及全体董事保证本公告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： ●重庆发展产业有限公司(以下简称"重庆发展")持有公司5,036,254股股份，占公司总股本的0.25%。本次 权益变动主要为重庆发展管理权正式移交至重庆产业引导股权投资基金有限责任公司（以下简称"产业 引导基金"），纳入产业引导基金并表企业。产业引导基金为公司持股5%以上股东重庆渝富控股集团有 限公司（以下简 ...

股票代码：603766 股票简称：隆鑫通用 编码：2025-035 隆鑫通用动力股份有限公司 关于持股 5%以上股东权益变动的提示性公告 本公司董事会及全体董事保证本公告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： ? 重庆发展产业有限公司(以下简称"重庆发展")持有公司 5,036,254 股股份， 占公司总股本的 0.25%。本次权益变动主要为重庆发展管理权正式移交至重庆产业 引导股权投资基金有限责任公司（以下简称"产业引导基金"），纳入产业引导基 金并表企业。产业引导基金为公司持股 5%以上股东重庆渝富控股集团有限公司（以 下简称"渝富控股"）全资孙公司。 ? 本次权益后，渝富控股持有公司 318,709,695 股股份，渝富控股与重庆发展合 计持有公司 323,745,949 股股份，占公司总股本的 15.77%。 ? 本次权益变动不触及要约收购，不会导致公司控股股东及实际控制人发生变化。 一、本次权益变动基本情况 隆鑫通用动力股份有限公司（以下简称"公司"）于 2025 年 7 月 31 日收到持 股 5%以上股东渝富控股和重庆 ...

2025年7月31日，重庆发展管理权正式移交至产业引导基金，并纳入产业引导基金并表企业。产业引导 基金为重庆科技创新投资集团有限公司100%持股的子公司，重庆科技创新投资集团有限公司为渝富控 股100%持股的子公司，重庆发展持有5,036,254股公司股份。上述管理权移交事项将导致公司股东权益 变动，本次权益变动后，渝富控股持有公司318,709,695股股份，与重庆发展合计持有公司323,745,949股 股份，占公司总股本的15.77%。 格隆汇7月31日丨隆鑫通用(603766.SH)公布，公司于2025年7月31日收到持股5%以上股东渝富控股和重 庆发展分别出具的函。 ...

2025年7月31日，重庆发展管理权正式移交至产业引导基金，并纳入产业引导基金并表企业。产业引导 基金为重庆科技创新投资集团有限公司100%持股的子公司，重庆科技创新投资集团有限公司为渝富控 股100%持股的子公司，重庆发展持有5,036,254股公司股份。上述管理权移交事项将导致公司股东权益 变动，本次权益变动后，渝富控股持有公司318,709,695股股份，与重庆发展合计持有公司323,745,949股 股份，占公司总股本的15.77%。 格隆汇7月31日丨隆鑫通用(603766.SH)公布，公司于2025年7月31日收到持股5%以上股东渝富控股和重 庆发展分别出具的函。 ...

股票代码：603766 股票简称：隆鑫通用 编码：2025-035 隆鑫通用动力股份有限公司 关于持股 5%以上股东权益变动的提示性公告 本公司董事会及全体董事保证本公告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： 重庆发展产业有限公司(以下简称"重庆发展")持有公司 5,036,254 股股份， 占公司总股本的 0.25%。本次权益变动主要为重庆发展管理权正式移交至重庆产业 引导股权投资基金有限责任公司（以下简称"产业引导基金"），纳入产业引导基 金并表企业。产业引导基金为公司持股 5%以上股东重庆渝富控股集团有限公司（以 下简称"渝富控股"）全资孙公司。 本次权益后，渝富控股持有公司 318,709,695 股股份，渝富控股与重庆发展合 计持有公司 323,745,949 股股份，占公司总股本的 15.77%。 （一）重庆渝富控股集团有限公司基本情况 | | | - 1 - 本次权益变动不触及要约收购，不会导致公司控股股东及实际控制人发生变化。 一、本次权益变动基本情况 隆鑫通用动力股份有限公司（以下简称"公司"）于 2025 年 7 ...

知前沿，问智研。智研咨询是中国一流产业咨询机构，十数年持续深耕产业研究领域，提供深度产业研 究报告、商业计划书、可行性研究报告及定制服务等一站式产业咨询服务。专业的角度、品质化的服 务、敏锐的市场洞察力，专注于提供完善的产业解决方案，为您的投资决策赋能。 数据来源：中国汽车工业(摩托车)产销快讯，智研咨询整理 上市公司：钱江摩托（000913），信隆健康（002105），征和工业（003033），久祺股份（300994）， 林海股份（600099），上海凤凰（600679），中路股份（600818），力帆科技（601777），春风动力 （603129），爱玛科技（603529），隆鑫通用（603766），永安行（603776），新日股份（603787）， 绿通科技（301322），涛涛车业（301345），华洋赛车（834058） 相关报告：智研咨询发布的《2025-2031年中国摩托车行业市场专项调研及投资前景研究报告》 根据中国汽车工业(摩托车)产销快讯数据显示：2025年5月重庆隆鑫机车有限公司摩托车产量为141551 辆，同比下降4.94%，销量为148181辆，同比下降3.9%，产销率为104.68 ...

Investment Rating - The report gives an "Overweight" rating for the motorcycle industry, indicating an expectation for the industry to outperform the overall market [3][11]. Core Insights - The motorcycle industry is experiencing accelerated growth in large-displacement motorcycle exports, with a significant increase in sales both domestically and internationally. The domestic market is expected to benefit from the relaxation of motorcycle bans in various regions [5][3]. - In June 2025, the overall sales of two-wheeled fuel motorcycles reached 1.495 million units, a year-on-year increase of 8.0%. For the first half of 2025, cumulative sales reached 8.338 million units, up 15.2% year-on-year. Notably, large-displacement motorcycles saw a June sales figure of 103,000 units, up 14.3%, and a cumulative total of 502,000 units for the first half, marking a 41.2% increase year-on-year [5][3]. - The report highlights the competitive advantage of domestic motorcycle brands, which have improved product quality and price-performance ratios, allowing them to capture market share from foreign brands. In June 2025, large-displacement motorcycle exports reached 57,000 units, a year-on-year increase of 59.9%, with a cumulative total of 265,000 units for the first half, up 70.1% year-on-year [5][3]. Summary by Sections Export Market - The export of large-displacement motorcycles is gaining momentum, with domestic brands enhancing their competitiveness. In June 2025, the export volume of two-wheeled fuel motorcycles was 1.115 million units, a year-on-year increase of 17.6%, and for the first half, it reached 6.12 million units, up 26.0% year-on-year [5][3]. - Specific companies like Chuanfeng Power and Longxin General are showing strong export growth, with Chuanfeng's June export volume at 11,000 units, up 36.3%, and Longxin's at 8,000 units, up 98.8% [5][3]. Domestic Market - The domestic market is seeing a decline in sales due to increased competition and the impact of relaxed motorcycle bans. In June 2025, domestic sales of two-wheeled fuel motorcycles were 380,000 units, down 12.8% year-on-year, while large-displacement motorcycle sales were 46,000 units, down 15.6% [5][3]. - The report notes that the relaxation of motorcycle bans in various regions is expected to stimulate future demand, with several cities having lifted restrictions since late 2024 [5][3]. Company Valuations - The report provides a valuation table for key companies in the industry, indicating projected net profits and growth rates. For instance, Qianjiang Motorcycle is projected to have a net profit of 828 million yuan in 2025, with a CAGR of 13%, while Chuanfeng Power is expected to reach 1.808 billion yuan with a CAGR of 22% [6][3].

Core Viewpoint - As of July 24, 2025, among A-share listed companies in the automotive sector, 90 companies have released their mid-year performance forecasts, with 52.2% showing positive performance expectations and 47.8% indicating negative forecasts [2]. Group 1: Performance Forecasts - A total of 47 companies are expected to have positive performance, including 34 with profit increases, 6 with slight increases, and 7 turning losses into profits [4]. - The automotive parts industry has the highest number of companies with positive forecasts, totaling 38, while the commercial vehicle sector has 5 [4]. - 18 companies are expected to see their net profits increase by over 100% year-on-year, indicating a doubling of performance [4]. Group 2: Notable Companies with Positive Forecasts - Southern Precision is expected to have the largest increase, with a projected net profit of 200 million to 250 million yuan, turning from loss to profit [6]. - Aerospace Science and Technology, Zhengyu Industrial, and Bohai Automobile are also expected to see significant profit increases, with year-on-year growth exceeding 300% [7]. - Sailyus leads with a forecasted net profit of 2.7 billion to 3.2 billion yuan, representing a year-on-year increase of 66.2% to 96.98% [9]. Group 3: Companies with Negative Forecasts - 33 companies in the automotive sector are expected to report negative net profits, with GAC Group and BAIC Blue Valley leading the losses, each projected to lose over 2 billion yuan [10]. - GAC Group anticipates a loss of 1.82 billion to 2.6 billion yuan, citing slow sales of new energy models and structural mismatches in its sales system as primary reasons for the decline [12]. - BAIC Blue Valley expects a loss of 2.2 billion to 2.45 billion yuan, attributing its performance to intensified competition in the new energy vehicle sector and ongoing investments in product development [12].

Investment Rating - The report initiates coverage with a "Buy-A" rating and sets a 6-month target price of 16.56 CNY per share, based on an 18x PE for 2025 [4][6]. Core Insights - The company is expected to achieve significant revenue growth, with projected revenues of 202.4 billion CNY in 2025, 235.7 billion CNY in 2026, and 272.8 billion CNY in 2027, alongside net profits of 18.9 billion CNY, 22.2 billion CNY, and 26.9 billion CNY respectively [37]. - The company has a strong market presence in both domestic and international markets, particularly in the motorcycle sector, with a focus on the "VOGE" brand and a strategic partnership with BMW that enhances its production capabilities [13][22]. Summary by Sections Domestic Market and Business Synergy - The company has over 30 years of experience in the motorcycle industry, initially focusing on engine production and later expanding into complete motorcycle manufacturing, including a long-term partnership with BMW [13]. - The acquisition by Zongshen is expected to create business synergies, enhancing competitiveness in the domestic market, with combined sales projected to surpass major competitors [20][22]. Brand Development and Product Growth - The "Wuji" brand, established in 2018, targets the mid-to-large displacement motorcycle market and has seen substantial growth, with revenues reaching 31.5 billion CNY in 2024, a 111.4% increase year-on-year [2][22]. - The company is actively expanding its product lineup, with successful launches of models like SR250 GT and CU525, and plans to introduce new models such as CU625 and DS625 in 2025 [32]. International Market Expansion - The company is focusing on core European markets, particularly Italy and Spain, where it has achieved a market share of 4.2% in Spain, with significant revenue growth in these regions [3][35]. - In 2024, overseas revenue reached 13.5 billion CNY, a 107.5% increase, with European sales contributing 10.2 billion CNY, reflecting a 133.4% growth [3][35]. Financial Projections - The report forecasts a robust financial outlook, with net profit margins expected to improve significantly, reaching 9.3% in 2025 and 9.8% in 2027, alongside a steady increase in return on equity [10][37]. - The company's strategic focus on high-demand motorcycle segments and international market penetration is anticipated to drive sustained revenue and profit growth [37].