| 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：2025-042 | 根据公司《2025 年员工持股计划》，本员工持股计划的存续期为 36 个月，自 本员工持股计划草案经公司股东大会审议通过且公司公告最后一笔公司股票过户 1 至本员工持股计划名下之日起计算。参与对象所获标的股票自公司公告最后一笔 标的股票过户至本员工持股计划名下之日起满 12 个月、24 个月后分两批解锁， 每批解锁的标的股票比例分别为 50%、50%，各年度具体解锁比例和数量根据公 司业绩指标和持有人考核结果计算确定。 公司将根据 2025 年员工持股计划实施的进展情况，按照相关法律法规的规定 及时履行信息披露义务。敬请广大投资者注意投资风险。 特此公告 宁波继峰汽车零部件股份有限公司 关于 2025 年员工持股计划非交易过户完成的公告 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、准确性和完整性依法承担法律责任。 宁波继峰汽车零部件股份有限公司（以下简称"公司"） ...

证券代码：603997 证券简称：继峰股份 公告编号：2025-041 转债代码：110801 转债简称：继峰定 01 宁波继峰汽车零部件股份有限公司 关于 2024 年度暨 2025 年第一季度业绩说明会召开情 况的公告 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法律责任。 宁波继峰汽车零部件股份有限公司（以下简称"公司"）于 2025 年 6 月 13 日 （ 星 期 五 ） 下 午 15:00-16:00 在 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： https://roadshow.sseinfo.com/）以视频录播和网络互动的形式召开了 2024 年度暨 一、业绩说明会召开情况 息披露媒体披露了《继峰股份关于召开 2024 年度暨 2025 年第一季度业绩说明会 的公告》(公告编号：2025-040)。 刘杰先生，董事、财务总监张思俊先生，独立董事谢华君女士、王民权先生、赵 香球女士出席了 2024 年度暨 2025 年一季度业绩说明会并与投资者进行互动交流 和沟通，在信息披露允许的范围内就投资 ...

关于 2024 年度暨 2025 年第一季度业绩说明会召开情 况的公告 | 证券代码：603997 | 证券简称：继峰股份 公告编号：2025-041 | | --- | --- | | 转债代码：110801 | 转债简称：继峰定 01 | 宁波继峰汽车零部件股份有限公司 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。 宁波继峰汽车零部件股份有限公司（以下简称"公司"）于 2025 年 6 月 13 日（星期五）下午 15:00-16:00 在上海证券交易所上证路演中心（网址： https://roadshow.sseinfo.com/）以视频录播和网络互动的形式召开了 2024 年度暨 2025 年一季度业绩说明会，现将有关情况公告如下： 公司对本次业绩说明会投资者提出的主要问题及相关回复整理如下： 1、公司 2024 年大幅亏损原因是什么？ 答：您好！主要由于受到德国宏观经济下行、汽车市场需求疲软，以及格拉 默在欧洲区实施了人员优化措施，并出售了多年亏损的美国 TMD 公司的影响， 公司出现较大亏损。谢谢！ 2、公司 2 ...

Group 1 - The automotive parts industry in A-shares is experiencing a boom with multiple companies receiving significant orders, driven by the rapid growth of the electric vehicle sector [1][4] - Domestic automotive parts manufacturers are increasingly chosen as designated suppliers by automakers to ensure supply chain stability, reflecting advancements in technology and product quality [1][2] - Zhejiang Tiancheng and Zhejiang Jingu have received designated orders for projects with significant production volumes and long lifecycles, indicating strong demand in the market [1][2] Group 2 - Ningbo Jifeng has secured a new project in the seat system sector, with a total project value of 2.52 billion yuan and a five-year lifecycle, enhancing the company's order reserve and capacity utilization [2] - The majority of designated projects disclosed by automotive parts companies are related to new energy vehicles, highlighting the sector's growth potential [3] - The retail sales of passenger vehicles in China reached 1.93 million units in May, with new energy vehicles accounting for over 1.05 million units, reflecting a strong recovery and increasing market penetration [4]

| 证券代码：603997 | 证券简称：继峰股份 | 公告编号：2025-040 | | --- | --- | --- | | 转债代码：110801 | 转债简称：继峰定 01 | | 宁波继峰汽车零部件股份有限公司 关于召开 2024 年度暨 2025 年第一季度业绩说明会的 会议召开方式：上证路演中心视频录播和网络文字互动 投资者可于 2025 年 6 月 6 日(星期五)至 6 月 12 日(星期四)16:00 登录上证 路演中心网站首页点击"提问预征集"栏目或通过宁波继峰汽车零部件股份有 限公司（以下简称"公司"）邮箱 ir@nb-jf.com 进行提问。公司将在说明会上对 投资者普遍关注的问题进行回答。 公司已于 2025 年 3 月 29 日、2025 年 4 月 30 日分别发布了公司 2024 年年 度报告、2025 年第一季度报告，为便于广大投资者更全面深入地了解公司 2024 年度和 2025 年第一季度经营成果、财务状况，公司计划于 2025 年 6 月 13 日（星 期五）下午 15:00-16: 00 举行 2024 年度暨 2025 年第一季度业绩说明会，就投资 者关心的问题 ...

Group 1 - The Ministry of Industry and Information Technology and other departments have launched the 2025 New Energy Vehicle (NEV) initiative to promote NEV usage in rural areas, focusing on quality and reliable models [1] - The initiative includes exhibitions, test drives, and collaboration with after-sales service, charging service, insurance, and financial service companies to enhance the NEV ecosystem in rural regions [1] - Policies such as tax reductions and incentives for vehicle trade-ins will encourage manufacturers to expand their product offerings and improve service levels in rural markets [1] Group 2 - Dongxing Securities notes that the automotive industry is experiencing intensified competition, impacting profitability and cash flow, but leading companies are still showing improvements in net profit and operating cash flow [2] - The release of new vehicles during auto shows and the ongoing effects of new policies are expected to gradually improve the performance of automotive companies in the second quarter [2] - Recommended companies for investment include SAIC Motor, Jianghuai Automobile, BYD, Changan Automobile, and others within the automotive and related sectors [2]

Investment Rating - The report maintains an "Accumulate" rating for the company [1] Core Views - The company is expected to enter a harvest period in 2025 due to the ramp-up of passenger car seat production and the integration of Grammer [2][5] - Positive changes observed in 2024 include the first annual breakeven for passenger car seats, asset divestiture from Grammer, and the growth of new products like hidden electric air vents and car refrigerators [5][6] Summary by Sections Company Overview - The company is a leading player in the automotive headrest market and is expanding into complete seat assemblies, creating a second growth avenue [15] - The company has evolved from a domestic headrest leader to a global interior supplier, with significant growth opportunities in the seat business [15][19] Passenger Car Seats - The passenger car seat market is projected to exceed 1 trillion yuan, driven by enhanced consumer demand and increased seat functionality [6][44] - The company has a robust order book with over 20 ongoing projects, expecting revenues from passenger car seats to reach 5-7 billion yuan in 2025 [6][9] Grammer Integration - The integration of Grammer has seen operational improvements in Europe and Asia, while the Americas have faced losses [6][22] - The company plans to divest the loss-making TMD assets in North America, which is expected to improve overall financial performance [6][22] Financial Projections - Revenue is forecasted to grow from 25.99 billion yuan in 2025 to 32.11 billion yuan in 2027, with a compound annual growth rate of 17% [8] - Net profit is expected to rebound significantly, reaching 631 million yuan in 2025 and 1.45 billion yuan by 2027 [8] Market Trends - The average value of passenger car seats is anticipated to rise to 5,000 yuan by 2025, with the domestic market size projected to reach 139.1 billion yuan [44] - The company is well-positioned to capitalize on the growing demand for advanced seat features and lightweight materials [43][44]

继峰股份 20250528 摘要 继峰股份收购格拉默后，通过扁平化管理、优化工厂设置、整合产业布 局等措施，提升了格拉默的经营效率和盈利能力，扭转了收购前净利率 偏低的局面。 2024 年，全球疫情、海外通胀和芯片短缺对格拉默业绩造成负面影响。 公司通过低息贷款置换、剥离北美亏损子公司 TMD、欧洲区裁员及职能 转移等方式积极应对，改善财务状况。 剥离北美 TMD 子公司显著改善了格拉默的财务状况，该子公司自 2021 年以来持续亏损，剥离后北美地区的经营状况及财务状况实现明显好转， 有助于提升整体盈利水平。 2025 年第一季度，格拉默欧洲区 EBIT 利润率同比翻倍至 4.6%，美洲 区经营性 EBIT 扭亏为盈，亚太区保持稳定增长，整体业绩在整合后出 现明显改善。 国内乘用车座椅市场规模已超千亿，预计到 2030 年将达到 1,400 亿左 右，以约 5%的增速稳定增长，消费升级推动座椅功能和配置丰富度的 提升。 Q&A 继峰股份在收购格拉默之后，如何进行整合以提升其经营效率和盈利能力？ 继峰股份在收购格拉默之后，采取了多项措施进行整合，以提升其经营效率和 盈利能力。首先，通过控制监督机制的改革，调整管 ...

Group 1 - The core viewpoint of the article is that the integration of Grammer is deepening, and the overseas performance inflection point has been basically established [1][9][10] - The company has completed the acquisition of Grammer and is advancing integration from multiple aspects, despite challenges such as the global pandemic and chip shortages [1][20][23] - In 2024, the company will continue to deepen the integration of Grammer overseas, with measures including the divestiture of the loss-making North American TMD subsidiary and strategic adjustments in the European region [1][28][29] Group 2 - The passenger car seat market is accelerating, with a market size exceeding 100 billion yuan in China, driven by consumer upgrades [2][39][43] - The industry has high barriers to entry, creating a favorable competitive landscape, with major players being foreign and joint ventures [2][47][51] - The company has secured a substantial number of high-quality seat projects, covering major OEMs, and an employee stock ownership plan is expected to enhance profitability [2][57][59] Group 3 - The company forecasts a significant improvement in performance, with net profits projected to reach 6.46 billion yuan, 10.97 billion yuan, and 13.84 billion yuan from 2025 to 2027 [4][61] - The company is positioned as a leading player in the passenger car seat industry, benefiting from a broad market space and accelerated domestic substitution [4][64] - The company maintains a "buy" rating due to its performance reversal and expected valuation premium [4][64]

一个多月前刚刚被爱克股份（300889）收购，无锡曙光精密工业有限公司（简称"无锡曙光"）便开始贡 献业务增量。 爱克股份同时指出，定点通知不代表最终供货量，实际供货量需以正式订单或销售合同为准。 5月27日晚间，爱克股份发布公告，控股子公司无锡曙光精密工业有限公司（以下简称"无锡曙光"）分 别收到无锡星驱科技有限公司、格拉默、佛吉亚、李尔、比亚迪（002594）、新泉股份（603179）、 Multimatic、继峰股份（603997）的定点通知书，将为前述客户提供领克电驱平台电机定转子、座椅零 部件产品。 证券时报·e公司记者关注到，无锡曙光是爱克股份于今年4月刚刚收入囊中的控股子公司。回溯2024年9 月，爱克股份召开董事会审议通过收购无锡曙光64.87%股权事宜，交易价格为2.47亿元。2025年4月， 公司宣布前述收购已完成工商变更登记，无锡曙光纳入合并报表范围。据悉，无锡曙光是新能源驱动电 机铁芯供应商， 在精密冲压制造领域具有成熟经验。 爱克股份表示，前述项目将提高公司本年度业务收入，对业绩产生积极影响。后续，无锡曙光将做好产 品开发、生产、交付等工作，并将以此为契机，深度嵌入新能源汽车客户供应 ...