Core Points - The board of directors of Xiangyang Changyuan Donggu Industrial Co., Ltd. has confirmed the election of Mr. Feng Shengzhong as the employee representative director [1] - Mr. Feng's term will last until the end of the current board's term, and his election complies with relevant laws and regulations [1] - The composition of the board remains unchanged after Mr. Feng's transition from a non-independent director to an employee representative director [1] Summary of Relevant Sections - **Election of Employee Representative Director** - The company held an employee representative assembly on November 11, 2025, where Mr. Feng Shengzhong was elected [1] - Mr. Feng's election aligns with the requirements set forth in the Company Law and the company's articles of association [1] - **Profile of Mr. Feng Shengzhong** - Mr. Feng, born in 1969, is a Chinese national with no permanent residency abroad and has a middle school education [2] - His career includes roles such as the head of the comprehensive management department at Shiyan Changyuan Industrial Co., Ltd. and various positions at Xiangyang Changyuan Donggu Industrial Co., Ltd. [2] - He has been serving as a director and deputy general manager since December 2017 and holds 1,122,144 shares of the company [2]

Core Points - Changyuan Donggu announced the election of Mr. Feng Shengzhong as the employee representative director of the fifth board of directors during the employee representative assembly scheduled for November 11, 2025 [2] Summary by Sections - **Company Announcement** - The company will hold an employee representative assembly on November 11, 2025 [2] - Mr. Feng Shengzhong will transition from a non-independent director to an employee representative director on the fifth board of directors [2]

证券代码：603950 证券简称：长源东谷 公告编号：2025-045 襄阳长源东谷实业股份有限公司 关于选举第五届董事会职工代表董事的公告 冯胜忠先生符合《公司法》、《公司章程》等规定的职工代表董事任职资格和 条件，其当选公司职工代表董事后，公司第五届董事会兼任公司高级管理人员以 及由职工代表担任的董事人数未超过公司董事总数的二分之一，符合相关法律法 规的要求。 特此公告。 襄阳长源东谷实业股份有限公司 董事会 2025 年 11 月 12 日 冯胜忠先生简历： 冯胜忠先生，1969 年出生，中国国籍，无境外永久居留权，初中学历。1995 年 1 月至 2001 年 10 月于十堰市长源实业有限公司任综合管理部部长，2001 年 11 月至 2011 年 9 月于襄樊市长源东谷实业有限公司任综合管理部部长，2011 年 10 月至 2017 年 11 月任襄阳长源东谷实业股份有限公司副总经理、董事会秘书， 2017 年 12 月至今任襄阳长源东谷实业股份有限公司董事、副总经理；持有公司 股票 1,122,144 股。未受过中国证监会及其他有关部门的处罚。 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 ...

Market Overview - The automotive parts sector increased by 0.07% compared to the previous trading day, with Xinpeng Co., Ltd. leading the gains [1] - The Shanghai Composite Index closed at 4002.76, down by 0.39%, while the Shenzhen Component Index closed at 13289.0, down by 1.03% [1] Top Gainers in Automotive Parts Sector - Xinpeng Co., Ltd. (002328) closed at 7.50, up by 9.97% with a trading volume of 541,600 shares and a turnover of 406 million yuan [1] - Liangyuan Zhuomei (301398) closed at 55.80, up by 8.94% with a trading volume of 99,600 shares and a turnover of 544 million yuan [1] - Chunxing Precision (002547) closed at 5.57, up by 6.70% with a trading volume of 1,935,300 shares and a turnover of 1.078 billion yuan [1] Top Losers in Automotive Parts Sector - Moulding Technology (000700) closed at 10.36, down by 6.58% with a trading volume of 1,054,800 shares and a turnover of 1.158 billion yuan [2] - Lintai New Materials (920106) closed at 96.44, down by 5.34% with a trading volume of 13,700 shares and a turnover of 134 million yuan [2] - Chaokang Co., Ltd. (301005) closed at 49.02, down by 3.01% with a trading volume of 109,200 shares and a turnover of 547 million yuan [2] Capital Flow Analysis - The automotive parts sector experienced a net outflow of 1.129 billion yuan from institutional investors, while retail investors saw a net inflow of 1.022 billion yuan [2] - The top stocks with significant net inflows from retail investors include Wan Feng Ao Wei (002085) with 170 million yuan and Chunxing Precision (002547) with 140 million yuan [3] Individual Stock Performance - Xinpeng Co., Ltd. (002328) had a net inflow of 80.38 million yuan from institutional investors, but a net outflow of 47.73 million yuan from retail investors [3] - Moulding Technology (000700) saw a net inflow of 69.34 million yuan from institutional investors, with a net outflow of 33.70 million yuan from retail investors [3]

Group 1 - The stock of Changyuan Donggu rose by 5%, reaching 32.74 CNY per share, with a trading volume of 140 million CNY and a turnover rate of 1.34%, resulting in a total market capitalization of 10.612 billion CNY [1] - Changyuan Donggu, established on December 19, 2001, and listed on May 26, 2020, is located in Xiangyang, Hubei Province, and specializes in the research, production, and sales of diesel engine components [1] - The main business revenue composition includes: cylinder blocks 55.32%, cylinder heads 34.97%, connecting rods 5.61%, and other products 4.09% [1] Group 2 - Penghua Fund has a significant holding in Changyuan Donggu, with its Penghua Shanghua One-Year Holding Mixed A Fund (013353) reducing its stake by 40,000 shares in the third quarter, now holding 80,100 shares, which accounts for 1.05% of the fund's net value [2] - The fund has generated an estimated floating profit of approximately 125,000 CNY today [2] - The Penghua Shanghua One-Year Holding Mixed A Fund was established on September 28, 2021, with a current size of 281 million CNY, yielding 2.14% year-to-date, ranking 7642 out of 8147 in its category [2]

Summary of Key Points from Conference Call Records Industry Overview - The North American power supply is facing shortages primarily due to an aging electrical grid and increased power demand driven by the rapid growth of data centers since the launch of ChatGPT 4.0 in November 2022. This has led to a significant rise in energy requirements, particularly for continuous power supply in data centers [2][4]. Key Companies and Their Performance Caterpillar - Caterpillar reported optimistic performance with a third-quarter revenue exceeding expectations, driven by an 18% growth in its energy and transportation segment, and a 26% increase in North America. The company plans to expand its gas turbine and diesel engine production capacity by 2.5 times and 2 times, respectively, by 2030, indicating sustained demand in North America [5]. Longyuan Donggu - Longyuan Donggu, a supplier of engine components, is expected to benefit from strong heavy truck sales and expansion into passenger vehicle markets. The company anticipates a compound annual growth rate (CAGR) exceeding 30% over the next 3-5 years, with an attractive valuation [2][23]. Caterpillar's Supplier - Linde - Linde, a key supplier for Caterpillar, is projected to achieve revenues of 250 million yuan in 2025, with a compound annual growth rate of over 30% expected as it capitalizes on new orders related to gas turbines and diesel engines [6][7]. KOTAI - KOTAI is the only OEM capable of exporting diesel generators to Europe and North America. The company has secured 70 orders in North America and expects to deliver around 500 units by 2026, significantly enhancing its profitability due to high margins in the European market [8][9][10]. Yinglian Co. - Yinglian Co., a leading supplier of gas turbine blades, is positioned to benefit from the tight demand in the North American market, presenting long-term investment value despite its current valuation not being fully recognized [14]. Jerry Holdings - Jerry Holdings has established a systematic presence in the North American power generation sector, generating revenue from gas turbine projects. The company expects sales of $70 million to $80 million in 2025 and aims to expand its leasing scale in North America [16][21]. Market Dynamics - The gas industry has entered a price increase cycle since 2021, primarily due to reduced turbine blade casting capacity during the pandemic, which has not yet recovered. This has led to delivery issues for aircraft engines, benefiting companies like Yingliu, which supplies components for GE's LEAP series engines [12][13]. Future Growth Potential - Jerry Holdings is expected to see significant growth in its gas turbine business, with projections of over 50% CAGR in the next 3-4 years. The company’s new orders have reached a historical high, and it is well-positioned for future expansion in both domestic and international markets [19][22]. Conclusion - The North American energy sector is experiencing a shift due to increased demand from data centers, leading to growth opportunities for companies involved in gas turbines and diesel engines. Key players like Caterpillar, KOTAI, and Jerry Holdings are well-positioned to capitalize on these trends, with strong growth forecasts and strategic expansions planned for the coming years [1][2][5][19].

Group 1 - The company held its second extraordinary general meeting of shareholders on November 6, 2025, with a total share capital of 324,130,800 shares, of which 476,000 shares in the repurchase account do not have voting rights, resulting in 323,654,800 shares eligible for voting [2][4] - The meeting was convened by the board of directors and chaired by Chairman Li Zuoyuan, utilizing a combination of on-site and online voting methods, in compliance with relevant laws and regulations [2][4] - All current directors (9), supervisors (3), and the board secretary attended the meeting, with all senior management present [3][4] Group 2 - Several resolutions were passed during the meeting, including the cancellation of the supervisory board and amendments to the company's articles of association, which were approved by more than two-thirds of the voting shares present [4][6] - Other resolutions that received approval include amendments to the rules for shareholder meetings, board meeting rules, independent director work systems, related party transaction management, external investment management, external guarantee management, fundraising management, and the implementation details of cumulative voting [5][6] - The meeting's legal compliance was confirmed by Beijing Jingtian Gongcheng Law Firm, ensuring that the procedures, qualifications of attendees, voting methods, and results adhered to the Company Law, Securities Law, and other relevant regulations [7]

证券代码：603950 证券简称：长源东谷 公告编号：2025-044 襄阳长源东谷实业股份有限公司 2025年第二次临时股东大会决议公告 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。 重要内容提示： 本次会议是否有否决议案：无 一、 会议召开和出席情况 （一）股东大会召开的时间：2025 年 11 月 6 日 （二）股东大会召开的地点：襄阳市襄州区钻石大道 396 号长源东谷 1 号会议室。 （三）出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： | 1、出席会议的股东和代理人人数 | 176 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 191,803,570 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股 | | | 份总数的比例（%） | 59.2618 | 2、 公司在任监事3人，出席3人； 3、 董事会秘书刘网成先生出席本次会议，全体高级管理人员列席了本次会 议。 二、 议案审议情况 （一）非累积投票议案 1、 议案名称：关于取消监事会并修订《 ...

中国北京市朝阳区建国路 77 号华贸中心 3 号写字楼 34 层 邮政编码 100025 电话: (86-10) 5809-1000 传真: (86-10) 5809-1100 北京市竞天公诚律师事务所 关于襄阳长源东谷实业股份有限公司 2025 年第二次临时股东大会 之 法律意见书 致：襄阳长源东谷实业股份有限公司 北京市竞天公诚律师事务所（以下简称"本所"）受襄阳长源东谷实业股份 有限公司（以下简称"长源东谷"或"公司"）的委托，指派本所律师出席公司 2025 年第二次临时股东大会（以下简称"本次股东大会"），并根据《中华人民 共和国公司法》（以下简称"《公司法》"）、《中华人民共和国证券法》（以 下简称"《证券法》"）、《上市公司股东会规则》（以下简称"《股东会规则》"） 等法律法规、规范性文件及现行有效的《襄阳长源东谷实业股份有限公司章程》 （以下简称"《公司章程》"）的有关规定，出具本法律意见书。 本所律师按照《股东会规则》的要求对长源东谷本次股东大会的合法、合规、 真实、有效进行了充分的核查验证，保证本法律意见书不存在虚假、误导性陈述 及重大遗漏，并对本法律意见书的真实性、准确性、完整性承担相应的 ...

Group 1 - The core point of the news is that Changyuan Donggu experienced a stock price increase of 5.87%, reaching 32.29 CNY per share, with a trading volume of 110 million CNY and a market capitalization of 10.466 billion CNY as of November 6 [1] - Changyuan Donggu, established on December 19, 2001, and listed on May 26, 2020, is located in Xiangyang, Hubei Province, and specializes in the research, production, and sales of diesel engine components [1] - The main revenue composition of Changyuan Donggu includes cylinder blocks (55.32%), cylinder heads (34.97%), connecting rods (5.61%), and other products (2.11% and 1.98%) [1] Group 2 - Yongying Fund's low-carbon environmental mixed fund A (016386) is among the top ten circulating shareholders of Changyuan Donggu, having reduced its holdings by 4.6576 million shares to 4.3331 million shares, representing 1.34% of circulating shares [2] - The fund has generated an estimated floating profit of approximately 7.7563 million CNY today [2] - The fund was established on October 17, 2022, with a current scale of 153 million CNY, yielding 2.29% year-to-date, ranking 7500 out of 8149 in its category, and has incurred a loss of 10.11% over the past year, ranking 7997 out of 8053 [2] Group 3 - The fund manager of Yongying Fund's low-carbon environmental mixed fund A is Hu Ze, who has been in the position for 2 years and 156 days [3] - The total asset scale of the fund is 3.428 billion CNY, with the best fund return during Hu Ze's tenure being 124.52% and the worst being 0.37% [3] Group 4 - Yongying Fund's low-carbon environmental mixed fund A has Changyuan Donggu as its largest holding, accounting for 9.95% of the fund's net value [4] - The fund has also realized a floating profit of approximately 7.7563 million CNY from its holdings in Changyuan Donggu [4]