Financial Performance - The company reported a basic earnings per share of 0.0800 yuan for Q1 2025, a 300% increase compared to 0.0200 yuan in Q1 2024 [1] - Net profit for Q1 2025 reached 1.04 billion yuan, showing a significant increase of 447.37% from 0.19 billion yuan in Q1 2024 [1] - The return on equity (ROE) improved to 2.20% in Q1 2025, up from 0.47% in Q1 2024, marking a 368.09% increase [1] Shareholder Structure - The top ten unrestricted shareholders collectively hold 74,696.93 million shares, accounting for 59% of the circulating shares, with a decrease of 400.27 million shares compared to the previous period [1] - Ningbo Jihong Holding Group Co., Ltd. remains the largest shareholder with 26,925.66 million shares, representing 21.27% of the total share capital [2] - The second-largest shareholder, WING SING INTERNATIONAL CO., LTD., holds 14,688.00 million shares, which is 11.60% of the total [2] Dividend Policy - The company has announced that it will not distribute dividends or transfer shares in this period [3]

Financial Performance - The company's operating revenue for Q1 2025 was ¥5,037,084,511.23, a decrease of 4.73% compared to ¥5,287,006,550.08 in the same period last year[3] - Net profit attributable to shareholders increased significantly by 447.56% to ¥104,439,125.64 from ¥19,073,408.11 year-on-year[3] - The net profit attributable to shareholders after deducting non-recurring gains and losses rose by 454.08% to ¥88,541,713.79 from ¥15,980,046.60 in the previous year[3] - Basic and diluted earnings per share increased by 300% to ¥0.08 from ¥0.02 year-on-year[3] - Net profit for Q1 2025 reached ¥105,486,915.19, significantly up from ¥13,287,269.17 in Q1 2024, representing an increase of 694.06%[19] - The gross profit margin for Q1 2025 improved to 2.08% from 0.04% in Q1 2024[18] - The company reported a total comprehensive income of ¥183,364,913.44 for Q1 2025, compared to a loss of ¥42,861,709.92 in Q1 2024[19] Cash Flow - The net cash flow from operating activities was negative at -¥108,731,142.70, a decline of 154.07% compared to ¥201,103,580.34 in the same period last year[3] - In Q1 2025, the net cash flow from operating activities was -108,731,142.70, a decrease from 201,103,580.34 in Q1 2024[22] - Total cash inflow from operating activities in Q1 2025 was 5,100,067,616.89, down from 5,716,926,732.55 in Q1 2024, representing a decline of approximately 10.8%[22] - Cash outflow from operating activities in Q1 2025 was 5,208,798,759.59, compared to 5,515,823,152.21 in Q1 2024, indicating a decrease of about 5.6%[22] - The net cash flow from investing activities was -77,557,199.49 in Q1 2025, an improvement from -176,313,401.20 in Q1 2024[23] - Cash inflow from investing activities in Q1 2025 totaled 472,549,815.43, significantly higher than 28,222,229.23 in Q1 2024[23] - Cash outflow from investing activities increased to 550,107,014.92 in Q1 2025 from 204,535,630.43 in Q1 2024[23] - The net cash flow from financing activities was -192,475,792.42 in Q1 2025, compared to 158,879,851.31 in Q1 2024[23] - Total cash inflow from financing activities was 646,996,631.81 in Q1 2025, down from 1,602,977,008.88 in Q1 2024[23] - The ending cash and cash equivalents balance for Q1 2025 was 1,796,060,328.30, an increase from 1,482,191,515.96 in Q1 2024[23] - The impact of exchange rate changes on cash and cash equivalents was a positive 57,848,720.24 in Q1 2025, contrasting with a negative impact of -50,122,606.33 in Q1 2024[23] Assets and Liabilities - Total assets at the end of the reporting period were ¥20,382,852,399.95, a slight increase of 0.48% from ¥20,284,802,574.36 at the end of the previous year[5] - The total liabilities as of March 31, 2025, were ¥10,195,424,574.81, compared to ¥9,935,135,329.61 on December 31, 2024, indicating an increase of approximately 2.62%[14] - The total assets increased to ¥20,382,852,399.95 from ¥20,284,802,574.36, marking a growth of about 0.49%[14] - The company's short-term borrowings decreased to ¥1,563,528,962.78 from ¥1,656,303,237.47, a reduction of approximately 5.6%[14] - The total liabilities as of the end of the reporting period were ¥15,292,275,451.57, slightly down from ¥15,379,781,642.26[20] - Total equity increased to ¥5,090,576,948.38 from ¥4,905,020,932.10 year-over-year[20] Shareholder Equity - Shareholder equity attributable to the parent company increased by 3.92% to ¥4,830,005,355.12 from ¥4,647,988,523.65 at the end of last year[5] - The total equity of the company is not explicitly stated in the provided data, but the increase in total assets and liabilities suggests a potential growth in equity[14] Government Subsidies and Restructuring - The company recognized government subsidies amounting to ¥24,630,431.48, which are closely related to its normal business operations[6] - The significant increase in net profit is attributed to the gradual effectiveness of the company's restructuring measures and the notable performance growth of its subsidiary, Gramer[7] Current Assets - As of March 31, 2025, the total current assets amounted to ¥10,187,427,825.14, a decrease from ¥10,349,667,244.75 as of December 31, 2024, reflecting a decline of approximately 1.56%[13] - The cash and cash equivalents decreased to ¥1,879,595,879.49 from ¥2,220,000,303.05, representing a decline of about 15.4%[13] - Accounts receivable slightly increased to ¥4,592,062,688.10 from ¥4,583,780,375.01, showing a marginal increase of 0.18%[13] - The inventory level remained stable, with a slight increase to ¥1,650,158,978.93 from ¥1,641,174,624.07, reflecting a growth of about 0.10%[13] - The company's goodwill increased to ¥1,633,777,874.81 from ¥1,577,201,670.17, representing an increase of approximately 3.58%[14] Research and Development - Research and development expenses increased to ¥156,120,784.08 in Q1 2025, up 40.49% from ¥111,091,057.62 in Q1 2024[18] Shareholder Relationships - The company has not reported any significant changes in shareholder relationships or actions regarding share lending or borrowing during the reporting period[11]

证券代码：603997 证券简称：继峰股份 宁波继峰汽车零部件股份有限公司 2025 年员工持股计划 摘要 二〇二五年四月 声明 本公司及董事会全体成员保证本次员工持股计划内容真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 1 风险提示 1、有关本次员工持股计划的具体资金来源、出资比例、实施方案等初步结果， 能否完成实施，存在不确定性。 2、若员工认购资金不足，本次员工持股计划存在低于预计规模的风险。 3、公司后续将根据规定披露相关进展情况，敬请广大投资者谨慎决策，注意投 资风险。 2 特别提示 1、宁波继峰汽车零部件股份有限公司（以下称"继峰股份"或"公司"）2025年员 工持股计划（以下称"本次员工持股计划"或"本员工持股计划"）系公司依据《中华 人民共和国公司法》《中华人民共和国证券法》《关于上市公司实施员工持股计划试 点的指导意见》《上海证券交易所上市公司自律监管指引第1号——规范运作》等有 关法律、行政法规、规章、规范性文件和《公司章程》的规定制定。 2、本次员工持股计划遵循公司自主决定、员工自愿参加的原则，不存在摊派、 强行分配等强制员工参加本持股计划的情形。 10、公司实施本员工持股计 ...

证券代码：603997 证券简称：继峰股份 宁波继峰汽车零部件股份有限公司 2025 年员工持股计划 二〇二五年四月 声明 本公司及董事会全体成员保证本次员工持股计划内容真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 1 风险提示 1、有关本次员工持股计划的具体资金来源、出资比例、实施方案等初步结果， 能否完成实施，存在不确定性。 2、若员工认购资金不足，本次员工持股计划存在低于预计规模的风险。 3、公司后续将根据规定披露相关进展情况，敬请广大投资者谨慎决策，注意投 资风险。 2 2、本次员工持股计划遵循公司自主决定、员工自愿参加的原则，不存在摊派、 强行分配等强制员工参加本持股计划的情形。 3、本次员工持股计划的参与对象主要为公司座椅事业部的核心骨干员工及董事 会认为需要激励的其他人员。参加本次持股计划的总人数不超过100人，具体参加人 数根据员工实际缴款情况确定。公司董事会可根据员工变动等情况对参与持股计划的 员工名单和分配进行调整。 4、本员工持股计划的资金来源为员工合法薪酬、自筹资金和法律、行政法规允 许的其他方式。公司不以任何方式向持有人提供垫资、担保、借贷等财务资助，亦不 存在第三方为员 ...

| 转债代码：110801 | 转债简称：继峰定 01 | | | --- | --- | --- | | 证券代码：603997 | 证券简称：继峰股份 | 公告编号：2025-035 | 宁波继峰汽车零部件股份有限公司 2024年年度股东大会决议公告 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 4 月 28 日 (二) 股东大会召开的地点：宁波市北仑区大碶璎珞河路 17 号宁波继峰汽车零 部件股份有限公司 B 栋三楼会议室 (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 | 132 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 822,855,583 | | 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 | 65.2865 | | 份总数的比例（%） | | (四) 表决方式是否符合《公司法》及《公司 ...

北京国枫律师事务所 关于宁波继峰汽车零部件股份有限公司 2024 年年度股东大会的 法律意见书 国枫律股字[2025]A0137号 致：宁波继峰汽车零部件股份有限公司（"贵公司"或"继峰股份"） 北京市东城区建国门内大街 26 号新闻大厦 7 层、8 层 电话：010-88004488/66090088 传真：010-66090016 邮编：100005 北京国枫律师事务所（以下简称"本所"）接受贵公司的委托，指派律师出席并 见证贵公司 2024 年年度股东大会（以下简称"本次股东大会"）。 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》"）、《律师事务所从事证券法律业务管理办法》（以下简称"《证券法 律业务管理办法》"）、《律师事务所证券法律业务执业规则（试行）》（以下简称 "《证券法律业务执业规则》"）等相关法律、行政法规、规章、规范性文件及《宁 波继峰汽车零部件股份有限公司章程》（以下简称"公司章程"）等有关规定，就本 次股东大会的召集与召开程序、召集人资格、出席会议人员资格、会议表决程序及 ...

► 行业新技术：高阶智驾加速普及 高压快充重构体验 智能驾驶：高算力芯片与激光雷达大规模上车。吉利 领克 900 成为全球首款搭载 Thor 芯片的量产车型，双Orin-X芯片成主流配置；零跑B10等车型以激光雷达下探至 10万元级市场，推动智驾平权。 智能座舱：高通骁龙 8295P芯片规模化普及，覆盖15万元以上车型 （如小鹏 G7、零跑B10、比亚迪汉L/唐L、方程豹钛3、吉利银河星 耀8、极氪007 GT）； 电动化： 800V高压快充成标配，续航与补能效率突破。 比亚迪全域 1 , 000V平台、华为尊界S800支持6C超充，续航普遍突破700km。 高端化 ：本次车展华为、小米新车集中发力高端市场，华为尊界定位百万级豪华轿车，通过华为品牌力 +智能驾驶、座舱黑科技赋能品牌；小米SU7 Ultra定位巅峰性能科技轿 车，主打性能、操控、科技，通过技术赋能高端。 ► 新势力新趋势：科技巨头重塑格局 智驾体验定义竞争力 华为： 尊界 S800、问界M8、享界S9增程三箭齐发，以鸿蒙智驾+高压平台技术冲击豪华市场，定位覆盖30万元至百万元级。 小米： S U7 ultra亮相车展， 具备 最大 马力 154 ...

摘要 ► 2025 上海车展：" 拥抱创新 共赢未来"。 第二十一届上海国际汽车工业展览会将于 2025 年 4 月 23 日至 5 月 2 日举办，主题为"拥抱创新 共赢未来"。本届车展规模超 36 万平方米，吸引全球近 1 , 000 家企业 参展，海内外主流品牌悉数亮相，覆盖 26 个国家及地区，预计发布超 100 款全球首发新车。我们拟通过本报告梳理亮点车企，解读整车新技术，洞察产业新趋势。 ► 自主新趋势：技术驱动品牌向 上 混动 + 智驾双线突破 比亚迪： 王朝网汉 L/唐L双旗舰搭载"天神之眼"智驾系统（激光雷达+双Orin-X），第五代DM混动实现1 , 400km续航；方程豹钛3以硬派设计+云辇底盘拓展个性化市 场，技术赋能全价位覆盖。 吉利： 银河星耀 8、极氪9X依托雷神EM-P混动与Thor芯片，实现13万元至百万元级市场布局；领克900以激光雷达+天地门设计定义豪华 新标杆。 长安 /长城/上汽： 长安深蓝 S09、长城坦克400Hi4-Z、上汽智己LS6等差异化产品矩阵，聚焦增程、越野与智能赛道，自主供给呈现高端化、科技化特征。 投资建议 乘用车： 看好 智能化、全球化加速突破的优 ...

员工持股彰显座椅增长信心，格拉默 25Q1 业绩超预期 证 券 研 究 报 告 继峰股份（603997）重大事项点评 强推（维持） 事项： 注：股价为 2025 年 4 月 11 日收盘价 公司研究 汽车零部件Ⅲ 2025 年 04 月 13 日 目标价：14.8-16.6 元 当前价：11.15 元 华创证券研究所 证券分析师：张程航 [ReportFinancialIndex] 主要财务指标 | | 2024A | 2025E | 2026E | 2027E | | --- | --- | --- | --- | --- | | 营业总收入(百万) | 22,255 | 22,845 | 27,963 | 33,050 | | 同比增速(%) | 3.2% | 2.7% | 22.4% | 18.2% | | 归母净利润(百万) | -567 | 605 | 1,030 | 1,402 | | 同比增速(%) | -378.0% | 206.8% | 70.2% | 36.1% | | 每股盈利(元) | -0.45 | 0.48 | 0.81 | 1.11 | | 市盈率(倍) | -25 | 23 | ...

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].