Industry Rating - The industry investment rating is "Outperform the Market" [1][1] Core Insights - The European new energy vehicle market is reaching a turning point driven by stringent carbon emission assessments and the cyclical nature of vehicle models [2] - The EU's policies, including the ban on fuel vehicles and tiered carbon reduction targets, are creating rigid constraints that push for electrification [2][8] - Major automakers are accelerating their electric vehicle (EV) strategies to meet upcoming carbon targets, with significant growth in battery electric vehicle (BEV) sales [3][19] Policy and Market Dynamics - The EU's tightening carbon reduction policies are compelling automakers to expedite their transition to new energy vehicles [7] - The EU has set ambitious carbon emission targets, including a ban on new fuel vehicles by 2035 and specific CO2 emission limits for new cars starting in 2025 [8][11] - The introduction of the ZLEV coefficient incentivizes manufacturers to increase the share of zero and low-emission vehicles in their fleets [15] Automaker Performance - Volkswagen delivered 465,500 BEVs globally in the first half of 2025, with a significant contribution from Europe, achieving a year-on-year growth of 89% [3][32] - Stellantis has improved its market share in Europe, ranking first in the hybrid market and second in the BEV market, supported by a multi-platform strategy [3][33] - Renault's BEV sales in Europe increased by 88% in Q1 2025, with a focus on affordable models and a strong platform strategy [3][42] Supply Chain and Component Manufacturers - Companies like Minth and Weimars are benefiting from the growth in the new energy vehicle supply chain, with significant revenue increases projected [4][49] - Minth's battery box business is expected to generate 5.338 billion yuan in revenue in 2024, reflecting a 50.96% year-on-year growth [4][48] - Weimars is positioned as a leading supplier in the domestic market, with a market share of 29.41% in the third-party vehicle charging market [4][52] Future Outlook - The report anticipates continued growth in the European new energy vehicle market, driven by regulatory pressures and technological advancements [2][19] - The performance of key players in the supply chain is expected to improve as the demand for new energy vehicles rises [4][59]

Investment Rating - The automotive industry is rated as "Outperform the Market" [1][5][4] Core Viewpoints - The industry is entering the mid-year performance period, with a focus on the 2025 World Robot Conference. The July car market is expected to grow primarily due to the "trade-in and scrapping" policies, with an estimated retail market of 1.85 million narrow passenger cars, a year-on-year increase of 7.6% [1][3] - The long-term outlook emphasizes the rise of domestic brands and opportunities in incremental components driven by electric and intelligent trends. In the short term, the strong new product cycle of Huawei and the first year of the Xiaomi automotive industry chain are highlighted [3][12] - The report suggests that under the geopolitical backdrop, the automotive sector as a domestic consumption product is likely to see increased stimulus policies, favoring passenger cars and domestically replaced components [3][12] Monthly Production and Sales Data - In July, the narrow passenger car retail market is projected to be around 1.85 million units, with a year-on-year growth of 7.6% and a month-on-month decline of 11.2%. New energy vehicle retail is expected to be approximately 1.01 million units, with a penetration rate of 54.6% [1][22] - Weekly data indicates that from July 1 to 27, the national passenger car retail reached 1.445 million units, a year-on-year increase of 9% but a month-on-month decline of 19% [1][2] Weekly Market Performance - For the week of July 28 to August 1, the CS automotive index fell by 2.26%, with the CS passenger car index down by 2.73%. The CS electric vehicle sector saw a decline of 5.01% [2][3] - The CS automotive sector outperformed the CSI 300 index by 0.08 percentage points but underperformed the Shanghai Composite Index by 0.88 percentage points, with a year-to-date increase of 10.97% [2][3] Key Company Earnings Forecast and Investment Ratings - Key companies such as Leap Motor, Geely, and JAC are rated as "Outperform the Market" with varying earnings per share (EPS) forecasts for 2025 and 2026 [4][5] - Leap Motor is expected to have an EPS of -0.05 in 2025, while Geely is projected to have an EPS of 1.36 [4][5] Investment Recommendations - The report recommends focusing on the rise of domestic brands and opportunities in incremental components, particularly in electric and intelligent sectors. Specific recommendations include: - Vehicle manufacturers: Leap Motor, JAC, Geely - Intelligent technology: Kobot, Huayang Group, Junsheng Electronics - Robotics: Top Group, Sanhua Intelligent Control, Shuanghuan Transmission - Domestic replacements: Xingyu Co., Fuyao Glass, Jifeng Co., New Spring Co., Horizon Robotics [3][12][24]

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：603786 证券简称：科博达 公告编号：2025-044 科博达技术股份有限公司 实际控制人减持股份计划公告 本公司董事会、全体董事及相关股东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： ● 实际控制人持股的基本情况 截至本公告披露日，科博达技术股份有限公司（以下简称"公司"）实际控制人之一柯炳华先生直接持有 公司无限售流通股12,827,633股，占公司总股本的3.1763%。上述股份来源为公司IPO前取得的股份，并 已于2022年10月17日解除限售并上市流通。 ● 减持计划的主要内容 因自身资金需求，柯炳华先生拟通过集中竞价交易或大宗交易方式合计减持其直接持有的公司股份不超 过3,200,000股，即不超过公司总股本的0.7924%。本次减持期间为自本公告披露之日起15个交易日后的 3个月内（根据中国证监会及上海证券交易所相关规定禁止减持的期间除外）。 近日，公司收到柯炳华先生发来的《关于科博达技术股份有限公司股东减持计划告知函》，现将有关情 况公告如下： 一、减 ...

天眼查商业履历信息显示，科博达技术股份有限公司，成立于2003年，位于上海市，是一家以从事计算 机、通信和其他电子设备制造业为主的企业。企业注册资本40385.93万人民币，实缴资本34200万人民 币。公司法定代表人为柯桂华。 金融界消息 截至2025年7月29日收盘，科博达（603786）报收于53.9元，下跌0.37%，换手率0.39%，成 交量1.59万手，成交金额8600.61万元。 资金流向方面，今日主力资金净流出1325.52万元，占比成交额15.41%。其中，超大单净流出331.62万 元、占成交额3.86%，大单净流出993.90万元、占成交额11.56%，中单净流出流入359.02万元、占成交 额4.17%，小单净流入966.50万元、占成交额11.24%。 科博达最新一期业绩显示，截至2025一季报，公司营业总收入13.74亿元、同比减少3.03%，归属净利润 2.06亿元，同比减少6.04%，扣非净利润1.89亿元，同比减少5.67%，流动比率3.673、速动比率2.748、 资产负债率23.13%。 通过天眼查大数据分析，科博达技术股份有限公司共对外投资了14家企业，参与招投标项目6 ...

Summary of Key Points Core Viewpoint - On July 29, several A-share listed companies disclosed their shareholding changes, with notable increases in holdings from certain companies and reductions from others [1]. Group 1: Companies Increasing Holdings - Giant Star Agriculture received a loan of 25 million yuan to support its controlling shareholder's increase in holdings [2]. - Antong Holdings saw its shareholding ratio increase to 15% due to the actions of Sinotrans Limited and its concerted parties [2]. - Salt Lake Co., Ltd. reported that its actual controller, China Minmetals, increased its shareholding by 1% [2]. Group 2: Companies Decreasing Holdings - Aosaikang announced plans to reduce its holdings by up to 1.5% [2]. - Ruishun Technology's shareholders plan to collectively reduce their holdings by up to 3.0013% [2]. - Shanghai Auto Parts' shareholders, Glory and Dizhi Kai, intend to reduce their holdings by up to 1.75% [2]. - Suzhou Planning's shareholders plan to reduce their holdings by up to 4.5% [2]. - Saiwei Electronics reported that the National Integrated Circuit Fund has cumulatively reduced its holdings by 1.06% [2]. - Huaye Fragrance's controlling shareholder, Hua Wenliang, plans to reduce holdings by up to 3% [2]. - Aotwei's shareholders, Wuxi Aochuang and Wuxi Aoli, intend to reduce their holdings by up to 1.37% [2]. - Tongding Interconnection's shareholder, Wu Qichuang, plans to reduce holdings by up to 2.08% [2]. - Anji Food's actual controller plans to reduce holdings by up to 2% [2]. - Hailun Zhe announced a share reduction plan [2]. - Maike Audi's shareholders plan to reduce holdings by up to 1% [2]. - Jinding Point Layer's director Xu Xuehai plans to reduce holdings by up to 0.72% [2]. - Lakala reported that Legend Holdings has cumulatively reduced its holdings by 5.3596 million shares, lowering its equity ratio to 25.86% [2]. - Lanfeng Biochemical's Hainan Wenqin plans to reduce holdings by up to 2.61% [2]. - Jiahe Meikang's shareholder Guoshou Chengda plans to reduce holdings by up to 3% [2]. - China Merchants Energy's Huang Shi and executives plan to reduce their stock obtained through equity incentives [2]. - Jingwang Electronics reported stock reduction during periods of abnormal stock fluctuations by Zhichuang Investment [2]. - Kebo Da's actual controller, Ke Binghua, plans to reduce holdings by up to 0.79% [2]. - Junhe Co., Ltd.'s senior management, Chen Jiawei and Fan Chaochun, plan to reduce their holdings [2]. - Mambo's shareholder Wang Xiaohong plans to reduce holdings by up to 0.96% [2]. - Yujing Co., Ltd.'s deputy general manager and board secretary Zhou Bo plans to reduce holdings by up to 147,900 shares [2].

科博达（603786）(603786.SH)发布公告，因自身资金需求，柯炳华先生拟通过集中竞价交易或大宗交 易方式合计减持其直接持有的公司股份不超320万股，即不超过公司总股本的0.7924%。 ...

智通财经APP讯，科博达(603786.SH)发布公告，因自身资金需求，柯炳华先生拟通过集中竞价交易或 大宗交易方式合计减持其直接持有的公司股份不超320万股，即不超过公司总股本的0.7924%。 ...

证券代码：603786 证券简称：科博达 公告编号：2025-044 科博达技术股份有限公司 实际控制人减持股份计划公告 本公司董事会、全体董事及相关股东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： | 股东名称 | 柯炳华 | | | | --- | --- | --- | --- | | 股东身份 | 控股股东、实控人及一致行动人 | √是 | □否 | | | 直接持股 5%以上股东 | □是 | √否 | | | 董事、监事和高级管理人员 | √是 | □否 | | | 其他：/ | | | | 持股数量 | 12,827,633股 | | | | 持股比例 | 3.1763% | | | 一、减持主体的基本情况 1 | | | | | 股东名称 | 持股数量（股） | 持股比例 | 一致行动关系形成原因 | | --- | --- | --- | --- | --- | | | 柯桂华 | 25,655,234 | 6.3525% | 公司实际控制人、董事长 | | | 柯炳华 | 12,827,633 | 3.1763 ...

格隆汇7月29日丨科博达(603786.SH)公告称，公司实际控制人之一柯炳华拟通过集中竞价交易或大宗交 易方式合计减持其直接持有的公司股份不超过3,200,000股，即不超过公司总股本的0.7924%。减持期间 为自本公告披露之日起15个交易日后的3个月内。 ...

南财智讯7月29日电，科博达公告，公司实际控制人柯炳华因个人资金需求，计划在2025年8月21日至 2025年11月20日期间，通过集中竞价交易或大宗交易方式减持不超过320万股，占公司总股本的比例不 超过0.7924%。柯炳华目前持有公司无限售流通股1282.7633万股，占公司总股本的3.1763%。此次减持 不会导致公司控制权发生变化，也不会对公司治理结构、股权结构及持续经营产生重大影响。 ...