董事、高级管理人员薪酬管理制度 （2025 年 9 月） 隆鑫通用动力股份有限公司 第一条 为进一步完善隆鑫通用动力股份有限公司（以下简称"公司"）董事 与高级管理人员的薪酬管理，建立科学有效的激励与约束机制，有效调动公司董 事及高级管理人员的工作积极性，提高公司的经营管理效益，根据《中华人民共 和国公司法》、《上市公司治理准则》等有关法律、法规及《隆鑫通用动力股份有 限公司公司章程》（以下简称"《公司章程》"）、《隆鑫通用动力股份有限公司董 事会薪酬与考核委员会工作细则》，结合公司实际情况，特制定本制度。 第二条 本制度所称董事是指本制度执行期间公司董事会的全部在职成员， 包括： （一）内部董事：是指与公司之间签订聘任合同或者劳动合同的高级管理人 员等兼任的董事； （二）独立董事：指公司按照《上市公司独立董事管理办法》的规定聘请的 不在公司担任除董事外的其他职务，并与公司及其主要股东、实际控制人不存在 直接或者间接利害关系，或者其他可能影响其进行独立客观判断关系的董事； 第一章 总则 （三）外部董事：指不在公司担任除董事外的其他职务的非独立董事。 本制度所称高级管理人员包括总经理、副总经理、财务总监、董事会 ...

603766 隆鑫通用动力股份有限公司独立董事工作制度 独立董事工作制度 隆鑫通用动力股份有限公司 603766 隆鑫通用动力股份有限公司独立董事工作制度 第一章 总 则 第一条 为进一步完善公司治理结构，促进公司规范运作，保障独立董事 依法独立行使职权，依据《中华人民共和国公司法》（以下简称"《公司 法》"）、中国证券监督管理委员会（以下简称"中国证监会"）《上市公司独 立董事管理办法》（以下简称"《独立董事管理办法》"）、《上海证券交易所股 票上市规则》（以下简称"《股票上市规则》"）、《上海证券交易所上市公司自 律监管指引第 1 号——规范运作》等法律、法规以及规范性文件和《隆鑫通用 动力股份有限公司章程》（以下简称"《公司章程》"），特制定本制度。 | | | （2025 年 9 月修订） 1 / 14 第二条 独立董事是指不在公司担任除董事外的其他职务，并与公司及其 主要股东、实际控制人不存在直接或者间接利害关系，或者其他可能妨碍其进 行独立客观判断关系的董事。 第三条 独立董事对公司及全体股东负有忠实和勤勉义务，应当按照相关 法律法规、《独立董事管理办法》及《公司章程》的要求，认真履行职责，在董 ...

股票代码：603766 股票简称：隆鑫通用 编码：临 2025-042 股票代码：603766 股票简称：隆鑫通用 编码：临 2025-042 隆鑫通用动力股份有限公司 关于调整公司董事会审计与风控委员会成员 及聘任公司高级管理人员的公告 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。 一、调整公司董事会审计与风控委员会成员情况 根据《中华人民共和国公司法》（以下简称"公司法"）、《关于新<公司 法>配套制度规则实施相关过渡期安排》等相关规定，隆鑫通用动力股份有限公 司（以下简称"公司"）将取消监事会，由公司董事会审计与风控委员会行使《公 司法》规定的监事会相关职权，为有效发挥审计与风控委员会相应职能，公司于 2025 年 9 月 29 日召开的第五届董事会第八次会议，会议以赞成票 9 票、反对票 0 票、弃权票 0 票的表决结果，审议通过了《关于调整审计与风控委员会成员数 及增补成员的议案》，董事会同意将审计与风控委员会成员数从三名调增至五名 （含三名独立董事）。同时，增补公司非独立董事焦一洋先生和刘昭先生为公司 第五届董 ...

股票代码：603766 股票简称：隆鑫通用 编码：临 2025-041 隆鑫通用动力股份有限公司 关于取消监事会并修订《公司章程》及部分治理制度的 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。 隆鑫通用动力股份有限公司（以下简称"公司"）于 2025 年 9 月 29 日召开 的第五届董事会第八次会议，会议以赞成票 9 票、反对票 0 票、弃权票 0 票的表 决结果审议通过了《关于取消监事会的议案》《关于修订<公司章程>的议案》和 《关于修订公司部分治理制度的议案》，相关议案尚需提交股东大会审议，具体 内容如下： 一、取消监事会情况 为贯彻落实《中华人民共和国公司法》（以下简称"公司法"）、《上市公司章 程指引》《关于新<公司法>配套制度规则实施相关过渡期安排》等相关法律法规 和规范性文件规定，进一步完善公司法人治理结构、提升公司规范运作水平，结 合公司实际情况，公司将不再设置监事会，由公司董事会审计与风控委员会行使 原监事会相关职权，公司《监事会议事规则》等监事会相关制度相应废止。 上述事项尚需提交公司股东大会审议 ...

证券代码：603766 证券简称：隆鑫通用 公告编号：2025-043 隆鑫通用动力股份有限公司 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： 一、 召开会议的基本情况 网络投票系统：上海证券交易所股东大会网络投票系统 网络投票起止时间：自2025 年 10 月 16 日 至2025 年 10 月 16 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股 东大会召开当日的交易时间段，即 9:15-9:25，9:30-11:30，13:00-15:00；通 股东大会召开日期：2025年10月16日 本次股东大会采用的网络投票系统：上海证券交易所股东大会网络投票系统 (一) 股东大会类型和届次 2025年第二次临时股东大会 (二) 股东大会召集人：董事会 (三) 投票方式：本次股东大会所采用的表决方式是现场投票和网络投票相结合的 方式 (四) 现场会议召开的日期、时间和地点 召开的日期时间：2025 年 10 月 16 日 14 点 00 分 召开地点：重庆市南岸区大石二支路隆鑫工业园隆鑫通用 ...

股票代码：603766 股票简称：隆鑫通用 编码：临 2025-040 隆鑫通用动力股份有限公司 第五届董事会第八次会议决议公告 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。 一、董事会会议召开情况 隆鑫通用动力股份有限公司（以下简称"公司""隆鑫通用"）第五届董事会 第八次会议于 2025 年 9 月 29 日以通讯表决的方式召开。本次会议通知于 2025 年 9 月 25 日以通讯方式送达各位董事，经全体董事一致同意豁免提前 5 天发出 会议通知。会议应出席董事 9 名，实际出席董事 9 名。会议由董事长李耀先生主 持。会议的召集、召开符合有关法律、行政法规、部门规章和《公司章程》的规 定，会议决议合法、有效。 本议案尚需提交公司股东大会审议。 （详细内容见上海证券交易所网站 www.sse.com.cn 同日披露的《隆鑫通用 动力股份有限公司关于取消监事会并修订<公司章程>及部分治理制度的公告》。） - 1 - 股票代码：603766 股票简称：隆鑫通用 编码：临 2025-040 二、董事会会议审议情况 本次会议经 ...

Group 1 - Longxin General (SH 603766) announced on September 29 that its fifth board meeting was held via telecommunication to review the proposal regarding the internal transfer of equity among its wholly-owned subsidiaries [1] - For the year 2024, Longxin General's revenue composition is 99.23% from the machinery manufacturing industry and 0.77% from other businesses [1] - As of the report, Longxin General has a market capitalization of 24.9 billion yuan [1] Group 2 - The competition between Nongfu Spring and Yibao has intensified, with Nongfu Spring's green bottle launch leading to a significant market share decline for Yibao, dropping nearly 5 percentage points [1]

Summary of Longxin General's Conference Call Company Overview - **Company**: Longxin General - **Industry**: Motorcycle Manufacturing and General Machinery Key Points Financial Performance - Longxin General's revenue is expected to grow steadily from 2018 to 2024, with an average annual growth rate of approximately 7% [2][3] - In the first half of this year, the company reported revenue of 9.7 billion yuan, a year-on-year increase of 30% [2][3] - Overseas markets contributed over 60% of revenue, with a growth of 36%, while domestic market revenue grew by 10% [2][3] - The net profit attributable to shareholders reached nearly 1.1 billion yuan, representing an increase of over 80% year-on-year [2][5] Business Structure and Diversification - The business structure has diversified significantly, with the motorcycle and engine segment accounting for about 75% of total revenue, while general machinery accounts for approximately 20% [2][4][5] - The company has shifted focus from generator sets to motorcycles and general machinery in recent years [5] Market Trends - The domestic motorcycle market is stabilizing after a peak in 2022, with new registrations around 9 million units in 2023 [6] - High-displacement motorcycle demand is increasing, with sales of 400-500CC and above models growing by over 30% from January to May [6] - The global motorcycle market is projected to sell approximately 56 million units in 2024, with Asia being the primary market [10] Competitive Landscape - There are about 100 domestic manufacturers in the motorcycle market, leading to intense competition [7] - Major players in the high-displacement motorcycle market include Longxin, Qianjiang, and Chunfeng, with Longxin focusing on overseas markets [8][9] Export and International Strategy - Longxin aims to expand its presence in high-end markets, particularly in Europe and Latin America, with a focus on high-displacement motorcycles [9][12] - In 2024, China is expected to export 11 million motorcycles, with Longxin holding a 14% market share in the high-displacement segment [11] Future Outlook - Longxin's profit is projected to exceed 1.9 billion yuan by 2025 and could reach over 2.6 billion yuan by 2027, driven by the growth in high-displacement motorcycle exports [4][23] - The company is also focusing on enhancing its sales network, which covers over 90 countries and regions, with more than 2,000 dealers [16] Product Development and Innovation - Longxin is committed to independent research and development, particularly in its "Wuji" brand, which offers high-performance motorcycles at competitive prices [17] - The company is also expanding into electric motorcycles and all-terrain vehicles, with significant growth in these segments expected [18] General Machinery Business - The general machinery segment, which includes engines and pumps, continues to be a major revenue source, with exports contributing over 60% of its income [19][20] Market Opportunities - The global lawn machinery market is projected to grow, with Longxin focusing on high-end products like intelligent lawn mowers to capture market share [21] Strategic Goals - Longxin aims to maintain its domestic market share while optimizing its product structure to boost high-displacement motorcycle sales [22] This summary encapsulates the key insights from Longxin General's conference call, highlighting the company's financial performance, market trends, competitive landscape, and future strategies.

Group 1 - The core viewpoint of the article highlights the declining production and sales figures in the motorcycle industry, particularly focusing on Chongqing Longxin Motorcycle Co., Ltd. [1] - In July 2025, Chongqing Longxin's motorcycle production was reported at 130,909 units, representing a year-on-year decrease of 25.07% [1] - The sales volume for the same period was 114,612 units, showing a significant year-on-year decline of 38.49% [1] - The production and sales rate stood at 87.55%, with an inventory backlog of 16,297 units [1] Group 2 - The article references a market research report titled "2025-2031 China Motorcycle Industry Market Special Research and Investment Prospects" published by Zhiyan Consulting [1] - Zhiyan Consulting is noted as a leading industry consulting firm in China, specializing in in-depth industry research and providing comprehensive consulting services [1]

Investment Rating - The report initiates coverage with a "Buy" rating for the company [12]. Core Views - The company has established itself as a leader in motorcycle manufacturing in China, focusing on strategic optimization and governance improvements after the acquisition by Zongshen, leading to a stabilization and recovery in profitability. The rise of motorcycle riding culture has benefited the company's high-end "VOGE" brand, driving product upgrades. The company is expected to achieve net profits of 1.917, 2.386, and 2.652 billion yuan from 2025 to 2027, with corresponding P/E ratios of 13.26X, 10.66X, and 9.58X [4][10]. Summary by Sections Company Overview - The company has deep roots in motorcycle manufacturing, starting with engine OEM and collaborating with BMW to gain high-end manufacturing experience. The launch of the "VOGE" brand in 2018 marked its entry into the mid-to-large displacement market, transitioning towards self-owned brands. The brand system now includes "VOGE + LONCIN + BICOSE," covering various product segments [7][24]. Financial Performance - From 2018 to 2024, the company's revenue grew from 11.204 billion yuan to 16.822 billion yuan, with a CAGR of 7.01%. The company entered a recovery phase post-2021, with significant improvements in net profit and gross margin, expecting gross and net margins of 17.6% and 6.3% in 2024. In the first half of 2025, the company achieved a net profit of 1.07 billion yuan, a year-on-year increase of 82.3% [7][26][34]. Domestic Market Dynamics - The rise of "self-pleasing" consumption has created a larger premium space for high-end leisure motorcycles. The sales of large-displacement motorcycles have been increasing, with 400-500cc segment sales reaching 158,000 units in 2024, up 69.8% year-on-year. The domestic sales of large-displacement motorcycles approached 400,000 units in 2024, reflecting an 18.6% increase [8][59]. International Market Strategy - The company has expanded its overseas market presence through a dual approach of channel and product strategies, focusing on high-quality, low-cost products. By 2024, the company had established a sales network in over 90 countries, with overseas revenue accounting for 65% of total revenue. The "VOGE" series products generated 1.346 billion yuan in export sales, a 107.5% increase year-on-year [9][10][67]. Governance and Management Changes - In late 2024, Zongshen New Manufacturing became the controlling shareholder, marking a significant governance restructuring. This change is expected to enhance resource allocation and operational efficiency, with a stable management team remaining in place to ensure continuity [42][45].