Group 1 - The domestic sales of electric two-wheelers reached 32.325 million units in the first half of 2025, representing a year-on-year growth of 29.5%, driven by the implementation of new national standards which are expected to release replacement demand [1] - The new standards are expected to significantly increase the penetration rate of smart electric bicycles, with a notable shift in product structure anticipated by 2026 [1] - The implementation of the new standards raises technical barriers and capital thresholds in the industry, accelerating the process of industry consolidation [1] Group 2 - Leading companies like Yadea and Aima are benefiting significantly from the new standards, with Yadea achieving a revenue of 19.186 billion yuan in the first half of 2025, a year-on-year increase of 33.1% [2] - Aima has made significant breakthroughs in fire-resistant materials and lightweight technology, with its new magnesium alloy frame reducing weight by 30% and costs by 15%, fully complying with the new standards [2] - New Day Holdings is focusing on the smart connected field, having developed a dedicated positioning chip for electric bicycles in collaboration with Beidou Star, achieving mass production [2] Group 3 - The new standards present challenges such as increased production costs, estimated to rise by 100 to 600 yuan per electric bicycle due to the application of new materials and technologies [3] - Insufficient technical reserves hinder some companies' ability to transition, particularly in the development of the Beidou positioning system which requires expertise across multiple fields [3] - The establishment of a comprehensive recycling system is urgent as the acceleration of old vehicle elimination necessitates improved recycling and utilization frameworks [3]

Core Viewpoint - The 2025 (10th) Qidian Lithium Battery Industry Annual Conference and the Lithium Battery Golden Ding Award Ceremony will focus on the theme "New Cycle, New Technology, New Ecology," aiming to summarize the past decade of the lithium battery industry and explore future development opportunities [2]. Event Background and Significance - The Qidian Lithium Battery Industry Annual Conference is a significant annual event that has been held for nine consecutive years, attracting over 1000 participants each year from the entire lithium battery supply chain [2]. - The 2025 event marks the 10th anniversary of both the conference and Qidian Research, providing a platform for industry professionals to discuss new materials, technologies, and industry dynamics [2]. Event Details - Event Name: 2025 (10th) Qidian Lithium Battery Industry Annual Conference and Lithium Battery Golden Ding Award Ceremony - Event Date: December 18-19, 2025 - Location: Venus Royal Hotel, Shenzhen - Expected Scale: Over 1200 offline participants and 30,000 online viewers [2][3]. Highlights of the Event - The conference will feature over 1200 guests discussing industry development, nine specialized forums, and more than 60 prominent speakers addressing key issues [4]. - The 10th Lithium Battery Golden Ding Award will be held concurrently, recognizing outstanding contributions to the lithium battery industry [4][7]. - The event will also include the 2025 China New Energy Entrepreneurs Club Council meeting, facilitating direct interactions among corporate leaders [4]. Agenda Overview - The agenda includes specialized sessions on various battery technologies, such as cylindrical batteries, soft-pack batteries, and new materials and processes, with discussions on trends and innovations [5][6]. - The first day will feature an opening ceremony and multiple specialized sessions focusing on different battery technologies and their applications [5][6]. Golden Ding Award - The Golden Ding Award is an annual evaluation of outstanding brands in the new energy battery industry, aimed at promoting innovation and sustainable development [7][8]. - The award registration period is from September 1, 2025, to November 25, 2025, with the final winners announced between December 1 and December 10, 2025 [8][9]. Participation and Registration - Registration for the event is priced at 2888 yuan per person, which includes access to the conference, meals, and industry white papers [10]. - The awards cover various categories, including technology innovation in different battery types and materials, as well as recognition for service providers and trusted brands in the industry [11].

Core Insights - The transition from old to new national standards for electric bicycles has led to a significant inventory clearance of old models, with new models expected to be launched soon [2][5][6] - The new standards impose stricter requirements on safety, quality, and technology, resulting in price increases of 500 to 1000 yuan for new models compared to old ones [2][10] - Major companies in the industry, such as Aima Technology, Ninebot, and New Day, have reported double-digit revenue and profit growth in the first three quarters of 2025, indicating a positive market response to the new standards [13][14] Industry Transition - The new national standard, GB 17761-2024, was officially implemented on December 1, 2025, with a focus on safety and quality improvements, including speed limits and battery compatibility [4][5] - Companies are facing challenges in adapting their manufacturing systems and supply chains to meet the new standards, but many have already begun production of compliant models [6][12] - The market is shifting from price competition to a value-based competition centered on technology, safety, and intelligence [15] Market Dynamics - The demand for electric bicycles is expected to rise due to increased consumer awareness of safety features and the availability of government subsidies [13][14] - The industry is experiencing a significant transformation, with a focus on smart features and enhanced safety measures, which are becoming key selling points for consumers [12][15] - Companies like Aima and Ninebot are expanding their product lines to include a variety of models that cater to different consumer needs, indicating a strategic response to the new market conditions [7][14]

Market Overview - On December 1, the motorcycle and other sectors rose by 1.36%, with Longxin General leading the gains [1] - The Shanghai Composite Index closed at 3914.01, up 0.65%, while the Shenzhen Component Index closed at 13146.72, up 1.25% [1] Stock Performance - Notable gainers in the motorcycle sector included: - Jiangui General (603766) with a closing price of 15.08, up 4.94% on a trading volume of 411,500 shares and a turnover of 611 million yuan [1] - Huayang Racing (920058) closed at 32.97, up 3.65% with a trading volume of 5,863 shares and a turnover of 19.1 million yuan [1] - Ninebot (6000689) closed at 58.91, up 3.51% with a trading volume of 109,400 shares and a turnover of 643 million yuan [1] Capital Flow - The motorcycle and other sectors experienced a net outflow of 37.58 million yuan from main funds, while retail funds saw a net inflow of 106 million yuan [2] - Retail investors had a net outflow of 68.79 million yuan [2] Individual Stock Capital Flow - Ninebot (6006899) had a main fund net outflow of 29.07 million yuan, with retail outflow of 31.55 million yuan [3] - Zhenghe Industrial (003033) saw a main fund net inflow of 6.17 million yuan, while retail investors had a net outflow of 1.57 million yuan [3] - Aima Technology (603529) recorded a main fund net inflow of 4.33 million yuan, with retail outflow of 2.94 million yuan [3]

Event Overview - The 2025 (10th) Qidian Lithium Battery Industry Annual Conference and Lithium Battery Golden Ding Award Ceremony will be held on December 18-19, 2025, in Shenzhen, marking the 10th anniversary of Qidian Lithium Battery and Qidian Research [2][3] - The theme of the event is "New Cycle, New Technology, New Ecology," focusing on discussions around new cycles in the industry, new materials, new processes, and new technological advancements [2] Event Scale and Participation - The event is expected to attract over 1200 offline participants and 30,000 online viewers, making it the largest annual gathering in the industry [4] - There will be nine specialized forums and over 60 prominent speakers discussing core topics, including technological breakthroughs and safety challenges [4] Award Ceremony - The 10th Lithium Battery Golden Ding Award will be held concurrently, recognizing outstanding contributions to the lithium battery industry [4][9] - The award aims to encourage innovation and provide procurement references for the industry, with various categories including technology innovation awards for different battery types [9][10] Specialized Forums and Topics - The agenda includes specialized sessions on cylindrical batteries, soft-pack batteries, and new materials and processes, with discussions on topics such as fast-charging technologies and safety standards for energy storage systems [5][6][7] - Notable companies participating in discussions include Eifly Laser, New Day Co., and others, focusing on advancements in battery technology and applications [6][7] Networking Opportunities - The event will also host the 2025 China New Energy Entrepreneurs Club Council Meeting, providing opportunities for high-level networking among industry leaders [4] - A total of over 50 exhibitors will showcase solutions across the entire lithium battery supply chain, including materials, equipment, and components [4]

Market Overview - The motorcycle and other sectors experienced a decline of 1.47% on the trading day, with Zhenghe Industrial leading the drop [1] - The Shanghai Composite Index closed at 3834.89, down 2.45%, while the Shenzhen Component Index closed at 12538.07, down 3.41% [1] Stock Performance - Notable stock performances include: - Ninebot Company (Code: 6006689) closed at 54.67, up 1.15% with a trading volume of 112,100 shares and a turnover of 617 million yuan [1] - Longxing General (Code: 603766) closed at 13.04, up 0.23% with a trading volume of 208,500 shares and a turnover of 272 million yuan [1] - Zhenghe Industrial (Code: 003033) closed at 60.15, down 5.63% with a trading volume of 24,300 shares and a turnover of 1.48 billion yuan [3] Capital Flow - The motorcycle and other sectors saw a net outflow of 232 million yuan from main funds, while retail investors contributed a net inflow of 162 million yuan [3][4] - Specific stock capital flows include: - Spring Power (Code: 603129) had a main fund net inflow of 27.96 million yuan, but a net outflow from retail investors of 33.78 million yuan [4] - Zhonglu Co. (Code: 600818) experienced a main fund net inflow of 4.86 million yuan, with retail investors contributing a net inflow of 3.37 million yuan [4] ETF Performance - The Food and Beverage ETF (Code: 515170) decreased by 1.88% over the last five days, with a current PE ratio of 20.86 and a net redemption of 31.43 million yuan [6] - The Gaming ETF (Code: 159869) fell by 3.98% over the last five days, with a PE ratio of 34.63 and a net redemption of 250 million yuan [6] - The Sci-Tech 50 ETF (Code: 588000) declined by 5.59% over the last five days, with a high PE ratio of 144.84 and a net subscription of 750 million yuan [6]

Core Viewpoint - The motorcycle industry in China is experiencing a decline in production and sales, particularly highlighted by the performance of Jiangsu New Energy Electric Vehicle Co., Ltd. in September 2025, which saw a significant drop in both production and sales figures [1] Group 1: Company Performance - Jiangsu New Energy Electric Vehicle Co., Ltd. produced 34,278 motorcycles in September 2025, representing a year-on-year decrease of 5.51% [1] - The company's sales for the same month were 28,106 units, reflecting a substantial year-on-year decline of 27.33% [1] - The production-sales ratio for Jiangsu New Energy Electric Vehicle Co., Ltd. stood at 81.99%, with an inventory backlog of 6,172 units [1] Group 2: Industry Insights - The data is sourced from the China Automotive Industry (Motorcycle) Production and Sales Quick Report, compiled by Zhiyan Consulting, which specializes in industry research [1] - Zhiyan Consulting has released a comprehensive report titled "2026-2032 China Motorcycle Industry Market Panorama Assessment and Development Strategy Analysis Report," indicating ongoing challenges in the motorcycle sector [1]

Core Viewpoint - The company, New Day Co., announced that a shareholder has extended the pledge of 5,000,000 shares through a securities firm, indicating ongoing financial maneuvers within the company [1] Group 1 - New Day Co. received notification on November 20, 2025, regarding the extension of a stock pledge by a shareholder [1] - The shareholder involved is Anji Zhenlai Enterprise Management Partnership (Limited Partnership) [1] - The stock pledge extension was processed through China Merchants Securities Co., Ltd. [1]

股东安吉谆莱企业管理合伙企业（有限合伙）（以下简称"安吉谆莱"）直接持有江 苏新日电动车股份有限公司（以下简称"公司"）股份 18,298,700 股,占公司总股本的 7.95%； 本次股票质押展期后，安吉谆莱累计质押公司股份数为 9,000,000 股，占其直接持有公司股 份总数的 49.18%，占公司总股本的 3.91%。 张崇舜先生、陈玉英女士和安吉谆莱企业管理合伙企业（有限合伙）（以下简称"安 吉谆莱"）为一致行动人，截至本公告披露日，上述三方合计持有公司股份总数为 131,110,000 股，本次股票质押展期后，除陈玉英女士无股份质押外，安吉谆莱及张崇舜先 生累计质押股份数量为 32,780,000 股，占其与一致行动人所持股份总数的 25.00%，占公司 总股本的 14.24%。 证券代码：603787 证券简称：新日股份 公告编号：2025-054 江苏新日电动车股份有限公司 关于控股股东一致行动人部分股票质押展期的公告 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个别及连带责任。 重要内容提示： 二、控股股东及其一致行 ...

Core Viewpoint - Anji Zhenlai has extended the pledge of 5 million shares until November 20, 2026, for financing tax payments, which does not affect the company's control and operations [1] Group 1: Share Pledge Details - The original pledge expiration date was November 20, 2025, and after the extension, it will now be until November 20, 2026 [1] - The pledged shares represent 27.32% of Anji Zhenlai's holdings and 2.17% of the company's total share capital [1] - Anji Zhenlai directly holds 18.2987 million shares, accounting for 7.95% of the total share capital [1] Group 2: Cumulative Pledge Information - After the extension, Anji Zhenlai has cumulatively pledged 9 million shares, which is 49.18% of its holdings and 3.91% of the total share capital [1] - Zhang Chongshun, Chen Yuying, and Anji Zhenlai are acting in concert, holding a total of 131 million shares [1] - The cumulative pledge of the concerted action group amounts to 32.78 million shares, representing 25% of their holdings and 14.24% of the total share capital [1]