Core Viewpoint - Longxin General (603766.SH) reported significant growth in its financial performance for 2024, leading to a surge in its stock price, which hit the limit up on April 14, 2024 [2][5]. Financial Performance Summary - In 2024, Longxin General achieved an operating income of 16.822 billion yuan, with a year-on-year increase of 28.74% [3][4]. - The net profit attributable to shareholders reached 1.15 billion yuan, marking a substantial year-on-year growth of 97.16% [3][4]. - For Q1 2025, the company anticipates a net profit of 455 million to 530 million yuan, representing a year-on-year increase of 76.65% to 105.77% [3][4]. Business Segments - The main business segments of Longxin General include motorcycles, engines, general machinery products, commercial generator sets, low-speed four-wheel electric vehicles, high-end components, and unmanned helicopters [3]. - The motorcycle and general machinery businesses accounted for 95.69% of the company's revenue in the first half of 2024 [3]. Stock Performance - Following the announcement of strong financial results, Longxin General's stock price rose from an initial increase of 2.95% to the daily limit, closing at 12.32 yuan per share, with a total market capitalization of 25.3 billion yuan [5]. - The stock has been on an upward trend since 2021, reaching its highest level in over nine years [5]. Ownership Changes - The stock price increase is also attributed to a change in ownership, with the new controlling shareholder being Zongshen New Manufacturing, which acquired a 24.55% stake in Longxin General [5][6]. - The restructuring of the Longxin Group, which involved the merger of thirteen companies, has been a significant factor in the company's recent performance [6].

Group 1 - Company Instech reported a net profit of 177 million yuan for 2024, a year-on-year increase of 28.15%, with a proposed cash dividend of 1.20 yuan per 10 shares [1] - Instech achieved an operating revenue of 1.185 billion yuan in 2024, representing a year-on-year growth of 24.45% [1] - The company specializes in the research, production, and sales of rare earth permanent magnet materials and applications [2] Group 2 - Company Junda reported a net loss of 106 million yuan for Q1 2025, transitioning from profit to loss, with a year-on-year revenue decline of 49.52% [3] - Junda's operating revenue for Q1 2025 was 1.875 billion yuan [3] - The company focuses on the research, production, and sales of photovoltaic cell products [4] Group 3 - Company Annada reported a net loss of 10.26 million yuan for Q1 2025, with a year-on-year revenue increase of 1.44% [5] - Annada's operating revenue for Q1 2025 was 473 million yuan [5] - The company specializes in titanium dioxide and iron phosphate products [6] Group 4 - Company Jiuzhou Pharmaceutical reported a net profit of 250 million yuan for Q1 2025, a year-on-year increase of 5.68% [7] - Jiuzhou's operating revenue for Q1 2025 was 1.49 billion yuan, reflecting a year-on-year growth of 0.98% [7] - The company provides custom research and production services for pharmaceutical companies and research institutions [8] Group 5 - Company Yitong Century won a 1.48 billion yuan contract for a 5G comprehensive maintenance project with Guangdong Unicom [9] - The project will enhance the company's business volume and expansion in Guangdong [9] - Yitong Century specializes in communication network technology services and solutions [10] Group 6 - Company Rijiu Optoelectronics reported a net profit of 67.47 million yuan for 2024, a year-on-year increase of 506.9%, with a proposed cash dividend of 2.00 yuan per 10 shares [10] - Rijiu's operating revenue for 2024 was 583 million yuan, representing a year-on-year growth of 22% [10] - The company focuses on the research, production, and sales of touch display application materials [11] Group 7 - Company Ruotong reported a net profit of 95.98 million yuan for 2024, a year-on-year increase of 0.91%, with a proposed cash dividend of 2.00 yuan per 10 shares [12] - Ruotong's operating revenue for 2024 was 408 million yuan, reflecting a year-on-year growth of 7.54% [12] - The company specializes in drilling and completion equipment for oil and gas [13] Group 8 - Company Shuangxiang reported a net profit of 472 million yuan for 2024, a year-on-year increase of 754.84%, with a proposed cash dividend of 1.50 yuan per 10 shares [14] - Shuangxiang's operating revenue for 2024 was 2.29 billion yuan, representing a year-on-year growth of 51.55% [14] - The company focuses on synthetic leather and optical-grade PMMA products [15] Group 9 - Company Xinfang Pharmaceutical reported a net profit of 101 million yuan for 2024, a year-on-year decrease of 64.70%, with a proposed cash dividend of 0.30 yuan per 10 shares [16] - Xinfang's operating revenue for 2024 was 6.032 billion yuan, reflecting a year-on-year decline of 6.63% [16] - The company is involved in medical services, pharmaceutical distribution, and manufacturing [17] Group 10 - Company Dongxing Medical reported a net profit of 97.42 million yuan for 2024, a year-on-year increase of 0.21%, with a proposed cash dividend of 6.00 yuan per 10 shares [18] - Dongxing's operating revenue for 2024 was 435 million yuan, reflecting a year-on-year growth of 0.40% [18] - The company specializes in surgical medical devices [19] Group 11 - Company Wuzhou Special Paper reported a net profit of 64.68 million yuan for Q1 2025, a year-on-year decrease of 51.56%, with an operating revenue of 1.989 billion yuan [20] - Wuzhou's operating revenue for Q1 2025 increased by 15.21% [20] - The company focuses on the research, production, and sales of mechanism paper and pulp [21] Group 12 - Company Jinrui Mining expects a net profit of 15.28 million yuan for Q1 2025, a year-on-year increase of 617.40% [22] - The company specializes in the production and sales of strontium salt products [23] Group 13 - Company Youyan New Materials expects a net profit of 60 million to 75 million yuan for Q1 2025, a year-on-year increase of 13076% to 16370% [24] - The company focuses on electronic films, precious metal materials, and rare earth materials [25] Group 14 - Company Guoli expects a net profit of 11 million to 13 million yuan for Q1 2025, a year-on-year increase of 164.38% to 212.45% [26] - The company specializes in urban infrastructure design, construction, and investment [27] Group 15 - Company Shenzhen Airport reported a passenger throughput of 5.5422 million in March, a year-on-year increase of 8.70% [28] - The airport's cargo throughput was 171,900 tons, reflecting a year-on-year growth of 14.51% [28] - The company is involved in aviation and related non-aviation businesses [29] Group 16 - Company Shenghui Integration reported an order balance of 2.117 billion yuan as of March 31, 2025, a year-on-year increase of 11.89% [30] - The company provides cleanroom engineering and electromechanical engineering services [31] Group 17 - Company Chengyi Pharmaceutical received a drug registration certificate for Mercaptopurine tablets [32] - The drug is applicable for various diseases including choriocarcinoma and acute lymphoblastic leukemia [32] Group 18 - Company Enhua Pharmaceutical initiated Phase I clinical trials for NH280105 capsules, targeting Alzheimer's disease [33] - The trial aims to assess the safety and pharmacokinetics of the drug [33] Group 19 - Company Lingang Steel proposed a share buyback of 50 million to 100 million yuan [34] - The company specializes in the production and development of metallurgical products [35] Group 20 - Company Fujia plans to repurchase shares worth 15 million to 30 million yuan [36] - The company focuses on smart cleaning appliances and key components [37] Group 21 - Company Mould Technology received a project designation letter for exterior parts from a luxury car client, with an estimated total sales of 2.07 billion yuan [38] - The project is expected to start mass production in April 2027 [38] Group 22 - Company Longxin General expects a net profit of 4.55 billion to 5.30 billion yuan for Q1 2025, a year-on-year increase of 76.65% to 105.77% [39] - The company specializes in motorcycles, engines, and general machinery products [40] Group 23 - Company Dongfang Securities reported a net profit of 1.436 billion yuan for Q1 2025, a year-on-year increase of 62.08% [41] - The company focuses on investment management and securities trading [42] Group 24 - Company Yalian Machinery plans to use up to 800 million yuan of idle funds for low-risk financial products [43] - The company specializes in the production of engineered wood production lines and equipment [44] Group 25 - Company Guanghua Technology reported a net loss of 205 million yuan for 2024, with total revenue of 2.589 billion yuan [45] - The company focuses on PCB chemicals and lithium battery materials [46] Group 26 - Company Boya Biotechnology plans to publicly transfer 80% of its subsidiary's equity for 213 million yuan [47] - The transaction aims to optimize resource allocation focusing on blood products [48] Group 27 - Company Darui Electronics plans to repurchase shares worth 30 million to 50 million yuan [49] - The company specializes in customized components and automation equipment [50] Group 28 - Company Hongying Intelligent plans to repurchase shares worth 30 million to 40 million yuan [51] - The company focuses on smart control products and assemblies [52] Group 29 - Company Guangku Technology announced a change in the upper shareholding structure of its controlling shareholder [53] - The operational activities of the company will not be materially affected [54] Group 30 - Company Dingjie Smart's application for convertible bond issuance has been accepted by the Shenzhen Stock Exchange [55] - The company provides digital and intelligent solutions for various industries [56]

Core Viewpoint - Longxin General (603766) expects a significant increase in net profit for the first quarter of 2025, indicating strong growth in its motorcycle and general machinery businesses [1] Financial Performance - The company anticipates a net profit attributable to shareholders ranging from 455 million to 530 million yuan, representing a year-on-year growth of 76.65% to 105.77% [1] - After excluding non-recurring gains and losses, the expected net profit is projected to be between 449 million and 524 million yuan, reflecting a year-on-year increase of 81.97% to 112.36% [1] Business Growth - The growth in overall performance is attributed to the expansion of the motorcycle and general machinery sectors, as well as the optimization of the product structure for the Wujie self-owned brand [1]

Financial Performance - The company achieved total operating revenue of 1,682.22 million yuan, a year-on-year increase of 28.74%[5] - The net profit attributable to shareholders reached 115.03 million yuan, reflecting a significant year-on-year growth of 97.16%[5] - The net profit after deducting non-recurring gains and losses was 110.18 million yuan, up 71.73% compared to the previous year[5] - The basic earnings per share increased to 0.56 yuan, doubling from 0.28 yuan in the previous year[3] - The weighted average return on equity rose to 12.65%, an increase of 5.37 percentage points[3] Assets and Equity - Total assets at the end of the reporting period amounted to 1,611.07 million yuan, an increase of 15.56% from the beginning of the year[6] - Shareholders' equity attributable to the parent company was 920.65 million yuan, up 11.56% from the beginning of the year[6] Business Operations - The company benefited from growth in motorcycle and general machinery business revenues, along with optimized product structure[7] - The company is in the process of transferring equity of its subsidiary CMD in Italy, with certain conditions yet to be fulfilled[8] Investor Advisory - Investors are advised to be cautious as the financial data is preliminary and unaudited, with final figures to be disclosed in the annual report[8]

Financial Performance Expectations - The company expects a net profit attributable to shareholders for Q1 2025 to be between 455 million to 530 million CNY, representing a year-on-year increase of 76.65% to 105.77%[3] - The net profit attributable to shareholders after deducting non-recurring gains and losses is expected to be between 449 million to 524 million CNY, reflecting a year-on-year growth of 81.97% to 112.36%[4] - The estimated increase in net profit compared to the same period last year is between 197.43 million to 272.43 million CNY[4] - The estimated increase in net profit after deducting non-recurring gains and losses is between 202.25 million to 277.25 million CNY compared to the previous year[4] - The company reported a total profit of 300.06 million CNY and a net profit attributable to shareholders of 257.57 million CNY in the same period last year[5] Factors Influencing Performance - The company attributes the performance increase to the growth in motorcycle and general machinery businesses, as well as optimization of the product structure of its self-owned brand[7] Earnings Forecast and Risks - The earnings forecast has not been audited by an accounting firm[8] - There are no significant uncertainties affecting the accuracy of the earnings forecast[8] - The financial data provided is preliminary and the final figures will be disclosed in the official Q1 2025 report[9] - Investors are advised to pay attention to investment risks related to the preliminary earnings forecast[9]

Investment Rating - The report maintains a positive investment rating for the automotive and automotive parts industry, focusing on domestic autonomous industry chains and key companies such as BYD, Geely, and Xpeng [5]. Core Insights - The report highlights the impact of recent U.S. tariffs on the automotive sector, noting that the tariffs have a limited effect on automotive parts, particularly for companies with overseas operations [2][3]. - It emphasizes the importance of monitoring tariff developments and suggests a focus on domestic autonomous vehicle manufacturers that are less affected by U.S. tariffs [3][24]. - The report recommends a selection of companies in the automotive sector, particularly those involved in smart and electric vehicles, as well as automotive parts suppliers [3][4]. Summary by Sections Weekly Data - In the first week of April 2025, passenger car sales reached 337,000 units, a year-on-year increase of 25.6% but a month-on-month decrease of 30.2%. New energy vehicle sales were 168,000 units, up 37.8% year-on-year but down 30.4% month-on-month, with a penetration rate of 50.0% [1][3]. Market Performance - The automotive sector underperformed the market, with the A-share automotive sector declining by 5.26% from April 7 to April 11, ranking 24th among sub-industries [1][3]. Key Recommendations - The report suggests focusing on a core portfolio that includes companies like BYD, Geely, Xpeng, Xiaomi, Berteli, Top Group, and others [1][3]. - It also highlights the potential of companies involved in the new energy vehicle supply chain and those focusing on smart driving technologies [3][4]. Tariff Impact - The U.S. tariffs, particularly the reciprocal tariffs, are expected to have a significant impact on exports and the economy, with a potential drag on GDP growth [10][19]. - The report notes that the automotive parts sector is less affected by the tariffs, especially for companies with production facilities in Mexico and Southeast Asia [2][24]. Company Focus - The report identifies key companies in the automotive parts sector that are well-positioned to benefit from the current market dynamics, including those involved in smart and electric vehicle technologies [3][4][25].

Group 1 - The diesel generator concept has experienced a rebound, with companies such as Weichai Heavy Machinery (000880) and Taihao Technology (600590) hitting the daily limit increase [1] - Other companies like KOTAI Power (300153) and Meixin Yishen have seen stock price increases of over 10% [1] - Additional companies with notable stock performance include Longxin General (603766), Shenchiji Electric (603109), Tianrun Industrial (002283), and Sumida (600710) [1] Group 2 - There is a surge of dark pool funds flowing into these stocks, indicating increased investor interest [2]

股票代码：603766 股票简称：隆鑫通用 编码：临 2025-016 隆鑫通用动力股份有限公司 关于重要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。 本次权益变动属于根据重庆市第五中级人民法院（以下简称"重庆五中院"）裁 定批准的《隆鑫集团有限公司等十三家公司实质合并重整计划》安排，重庆五中 院于 2025 年 3 月 14 日作出（2022）渝 05 破 76 号之二十四《民事裁定书》，裁 定将隆鑫控股有限公司（以下简称"隆鑫控股"）持有的隆鑫通用动力股份有限 公司（以下简称"隆鑫通用"或"公司"）合计 122,107,632 股无限售流通 A 股 股票过户至渤海银行股份有限公司重庆分行等 26 家债权人，过户股票数量合计 占上市公司总股本的 5.9462%。2025 年 3 月 18 日，隆鑫控股等十三家公司管理 人（以下简称"管理人"）收到中国证券登记结算有限责任公司证券过户登记确 认书，上述股权完成司法扣划手续，已过入到渤海银行股份有限公司重庆分行等 26 家债权人账户。本次权益变动不触及 ...

隆鑫通用动力股份有限公司 简式权益变动报告书 上市公司名称：隆鑫通用动力股份有限公司 股票上市地点：上海证券交易所 股票简称：隆鑫通用 股票代码：603766 信息披露义务人：隆鑫控股有限公司 住所：重庆市九龙坡区石坪桥横街特5号 通讯地址：重庆市九龙坡区石坪桥横街特5号 权益变动性质：减少 签署日期：二〇二五年三月 声 明 本部分所述词语或简称与本报告书"释义"所述词语或简称具有相同含义。 一、本报告书系信息披露义务人依据《中华人民共和国证券法》、《上市公 司收购管理办法》和《公开发行证券的公司信息披露内容与格式准则第 15 号— 权益变动报告书》等法律、法规及规范性文件编制。 截至本报告书签署日，除本报告书披露的信息外，信息披露义务人没有通过 任何其他方式增加或减少其在隆鑫通用动力股份有限公司中拥有的权益。 四、本次权益变动是根据本报告书所载明的资料进行的。本信息披露义务人 没有委托或授权任何单位或个人提供未在本报告书中所列载的信息和对本报告书 做出任何解释和说明。 五、信息披露义务人承诺本报告书不存在虚假记载、误导性陈述或重大遗漏， 并对其真实性、准确性、完整性承担个别和连带的法律责任。 六、本报告部分 ...

Investment Rating - The report maintains a "Buy" rating for the motorcycle industry, specifically recommending companies such as Chuanfeng Power, Longxin General, and Qianjiang Motorcycle [7][16]. Core Insights - The motorcycle industry is experiencing strong growth in the large-displacement segment, with significant year-on-year increases in sales, particularly in the 250cc and above categories [4][5]. - The report highlights that the domestic market remains robust even during the off-season, with exports recovering due to ongoing compliance with Euro 5+ standards [5][6]. - The overall market dynamics suggest a favorable outlook for 2025, driven by increased supply and the efforts of leading manufacturers to expand their export businesses [5][12]. Summary by Sections Sales Performance - In February 2025, sales of motorcycles above 250cc reached 58,000 units, a year-on-year increase of 134.9% and a month-on-month decrease of 2.2% [3]. - Cumulative sales for January and February 2025 totaled 117,000 units, reflecting an 84.8% year-on-year growth [3]. Market Structure - The 250-400cc segment saw sales of 38,000 units in February, up 228.4% year-on-year, while the 400-500cc segment had sales of 10,000 units, a 16.4% increase [5]. - The 500-800cc segment also performed well, with February sales of 8,000 units, marking a 135.2% increase year-on-year [5]. Competitive Landscape - The top three companies in the 250cc+ segment in February were Chuanfeng Power, Longxin General, and Qianjiang Motorcycle, with a combined market share of 38.7% [6]. - Chuanfeng Power's sales in February were 8,000 units, with a market share of 14.7%, while Longxin General and Qianjiang Motorcycle had market shares of 13.5% and 10.5%, respectively [6]. Future Outlook - The report anticipates continued strong demand for large-displacement motorcycles, with leading companies expected to benefit from new model launches and enhanced export capabilities [15]. - The motorcycle culture is gradually forming, which is expected to further drive demand in the coming years [15].