证券代码：603997 证券简称：继峰股份 公告编号：2026-001 宁波继峰汽车零部件股份有限公司 关于为子公司提供担保的公告 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。 重要内容提示： 被担保人名称：宁波继峰汽车零部件股份有限公司（以下简称"公司"） 的控股子公司 Grammer Jifeng Automotive Seating CZ s.r.o.（以下简称"格拉默继 峰座椅（捷克）"）。 公司本次为格拉默继峰座椅（捷克）提供担保的金额为 2,000 万欧元。 截至本公告披露日，公司实际为格拉默继峰座椅（捷克）提供的担保余额为 2,400 万欧元（含本次）。 截至本公告披露日，公司无逾期对外担保的情况。 特别风险提示：公司及控股子公司对外担保总额超过最近一期经审计净 资产 100%，敬请广大投资者注意投资风险。 一、担保情况概述 （一）本次担保基本情况 为落实乘用车座椅业务全球化战略，公司控股子公司格拉默继峰座椅（捷克） 拟在捷克建设座椅生产基地，并于近期与厂房出租方签署《租赁协议》。根据厂 房出租方要求，本公司和 ...

Investment Rating - The report maintains a positive investment rating for the automotive industry, specifically recommending companies with strong alpha potential and growth prospects [2][4][5]. Core Insights - The report highlights the challenges faced by the used car export market, particularly from Japan, emphasizing the need for standardized rating systems and trust-building measures between buyers and sellers [3]. - It suggests that companies with strong operational capabilities, such as large dealership groups and platforms like Uxin, are well-positioned to capitalize on the growth of used car exports [3]. - The report notes that the automotive parts sector is currently facing headwinds due to high inventory levels and the exhaustion of trade-in subsidies, but there is a cautious optimism for market recovery in the coming year [4]. - Companies like Daimay and Fuda are highlighted for their stable performance and growth potential, particularly in the robotics sector and their international market presence [5][6]. Summary by Sections Used Car Export Insights - The used car export market is hindered by trust issues and a complex transaction chain, with Japan's stringent vehicle inspection policies serving as a potential model for improvement [3]. - Uxin is identified as a key player with a growing inventory of nearly 7,000 used cars, making it a recommended investment for the next two to three years [3]. Automotive Parts Sector Update - The automotive industry did not experience the anticipated year-end surge, primarily due to the depletion of trade-in subsidies and consumer hesitance [4]. - Recommendations include companies with strong alpha characteristics such as Shuanghuan Transmission and Yinlun, which are expected to benefit from stable growth and high market ceilings [4]. Daimay and Robotics Sector - Daimay is recognized for its stable earnings, low valuation, and significant growth potential, particularly in automotive interior components and robotics [5][6]. - The company has made significant strides in expanding its client base, including partnerships with major electric vehicle manufacturers, and is positioned to support Tesla's localization efforts in North America [6].

Core Viewpoint - The article highlights the significant achievements of Jifeng Automotive Interior System Co., Ltd. under the leadership of Wang Yiping, particularly in securing major contracts with luxury car brands and expanding its global presence in the automotive seating market [4][5][9]. Group 1: Business Achievements - Jifeng announced a major contract with a European luxury car brand for the development of passenger car seat assemblies, with a total lifecycle value of 9.8 billion yuan [4]. - The company has secured a total of 167 billion yuan in orders for passenger car seats throughout the year, showcasing its strong market position [9]. - Jifeng's subsidiary, Grammer Jifeng (Germany), has been recognized for its design and production capabilities, marking a shift from domestic to global supplier [5][6]. Group 2: Financial Performance - For the first half of 2025, Jifeng reported a revenue of 10.52 billion yuan, a decrease of 4.39% year-on-year, while net profit increased by 189.51% to 153.86 million yuan [18]. - The passenger car seat business generated 19.8 billion yuan in revenue in the first half of 2025, doubling year-on-year, significantly outpacing other business segments [13]. - By the end of September 2025, the company’s total revenue was 161.3 billion yuan, with a net profit of 2.51 billion yuan, reflecting a 4.6% decline compared to the previous year [22]. Group 3: Strategic Expansion - Jifeng is expanding its production capacity with new bases in Hefei, Changzhou, and Southeast Asia, while also planning a European seating base [24][26]. - The company aims to leverage its extensive customer base in the seating sector to rapidly expand its market reach [13]. - Wang Yiping has emphasized a strategic focus on seating business, which significantly impacts driving experience and consumer preferences [11]. Group 4: Leadership and Future Plans - Wang Yiping, the founder, has a vision for the company to continue growing and adapting, with plans for succession involving his son, Wang Jiming [27]. - The company has undergone significant restructuring and management changes to optimize operations and enhance profitability [17]. - Jifeng's long-term strategy includes maintaining a core focus on seating while exploring new markets such as vehicle refrigerators and electric vehicle components [11].

身家70亿的宁波汽配老板，再下一城。 12月19日，王义平掌舵的继峰股份公告称，获得欧洲豪车品牌的乘用车座椅总成项目定点，生命周期总金额为98亿元。 据行业媒体透露，该项目为路虎卫士的全球销售车型。官方称，其在手座椅订单已在1000亿上下。 "以百年继峰为己任。"9月底，王义平就自信宣称，中国汽车行业的崛起是大势所趋，作为业内的企业，把练好自己内功放在第一位。 "继峰抓住了中国新能源汽车，包括全球新能源汽车发展的一个契机。" 黄河科技学院客座教授张翔告诉《21CBR》记者，中国连续10年成为全球最大的新能源汽车市场，高速增长拉动了其营收。 12月22日收盘，继峰市值接近180亿元。 连拿大单 王义平收获的最新订单，由其控股子公司格拉默继峰（德国）操盘，将为客户开发、生产前中后三排座椅总成产品。 公告称，这彰显了海外豪华品牌主机厂对其在乘用车座椅产品开发设计、技术质量、生产保障能力的认可。 项目预计从2028年9月开始，生命周期为8.5年，对其海外业务来说，意义重大。 | 序号 | 定点公告时间 | 客户及项目 | 产品名称 | 生命周期总销(亿元) | 量产时间 | 能源方式 | | --- | --- | ...

证券代码：603997 证券简称：继峰股份 公告编号：2025-090 宁波继峰汽车零部件股份有限公司 关于募集资金购买的现金管理产品到期赎回的公告 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。 一、募集资金进行现金管理的基本情况 2 二、现金管理产品到期赎回情况 近期，公司使用闲置募集资金购买的招商银行宁波北仑支行（以下简称"招 商银行北仑支行"）对公结构性存款产品已到期赎回，相关本金及利息收入已归 还至募集资金专户，具体情况如下： 单位：万元 | 受托方 | 产品名称 | 认购金额 | 产品 | 年化收 | 到期赎回情况 本金金 | 收益 | | --- | --- | --- | --- | --- | --- | --- | | | | | 期限 | 益率 | | | | | | | | | 额 | 金额 | | 招商银行 北仑支行 | 招商银行点金系列看 涨两层区间32天结构 | 2,800.00 | 32天 | 1.60% | 2,800.00 | 3.93 | | | 性存款 | | | | | | 注：收益金 ...

Core Viewpoint - Ningbo Jifeng Automotive Parts Co., Ltd. has successfully secured a project for passenger car seat assemblies from a European luxury brand, marking a significant step in its transition from a domestic supplier to a global player in the automotive seating market [1] Group 1: Project Acquisition - Jifeng's subsidiary, Grammer Jifeng (Germany), received a "Designation Letter" from a European luxury brand for the development and production of front, middle, and rear seat assemblies, with a project lifecycle expected to last 8.5 years and a total value of approximately 9.8 billion yuan [1] - This project follows the company's previous success in securing a similar project with BMW AG, indicating strong recognition from overseas luxury brands regarding Jifeng's capabilities in product development, design, and production quality [1] Group 2: Market Expansion - The customer base for Jifeng's passenger car seat business has diversified, covering not only overseas luxury car manufacturers but also domestic new energy vehicle leaders and traditional high-end joint ventures, with market reach extending from China to Europe and Southeast Asia [2] - The company is also expanding its emerging product lines, including hidden electric air vents and hidden door handles, which are expected to become new growth points as they move into mass production [2] Group 3: Operational Improvements - Jifeng has achieved significant progress in the integration and reform of Grammer Jifeng (Germany) since 2025, implementing measures such as adjusting the decision-making team and establishing new incentive systems to enhance management effectiveness [3] - The company has successfully turned around Grammer's financial performance, with a net profit of 150 million yuan in the first three quarters of 2025, marking a return to profitability [3]

Core Viewpoint - The company, Jifeng Co., Ltd. (603997), has announced that its subsidiary, Grammer Jifeng (Germany), has received a "pointing letter" from a European luxury automotive brand for a passenger car seat assembly project, marking a significant step in its transition to a global supplier of automotive seating products [1] Group 1: Project Details - The project involves the development and production of front, middle, and rear seat assemblies for a global sales model, expected to commence in September 2028, with a total project lifecycle value estimated at 9.8 billion yuan [1] - The project has a lifecycle duration of 8.5 years, indicating a long-term revenue stream for the company [1] Group 2: Market Position and Recognition - The acquisition of this project follows the company's previous success in securing a similar project with BMW AG, highlighting the recognition of the company's capabilities in product development, design, technical quality, and production assurance by overseas luxury automotive brands [1] - This new order signifies an increase in the company's overseas high-end seating orders, reflecting its gradual transition from a domestic supplier to a global player in the passenger car seating market [1] Group 3: Future Implications - The company believes that this project will enhance its future annual business revenue and have a positive and far-reaching impact on its operational performance [1] - The project is expected to facilitate the company's expansion into overseas markets and create favorable conditions for achieving economies of scale in production within Europe [1]

Core Viewpoint - The announcement by Jifeng Co., Ltd. regarding its subsidiary Grammer Jifeng (Germany) securing a significant contract with a European luxury car manufacturer marks a pivotal step in the company's global expansion strategy, with an expected total value of 9.8 billion RMB over an 8.5-year lifecycle [1][2]. Group 1: Project Details - The project involves the development and production of front, middle, and rear seat assemblies for passenger vehicles, set to commence mass production in September 2028 [1]. - This contract is a milestone in the company's globalization efforts, indicating a shift from being a domestic supplier to a global player in the passenger car seat market [2]. Group 2: Market Position and Strategy - The successful acquisition of this order reflects the recognition of Jifeng Co., Ltd. by overseas luxury automotive brands, solidifying its position in the high-end automotive supply chain [1][2]. - The company aims to expand its overseas market presence and enhance its production capabilities in Europe, creating favorable conditions for economies of scale [2]. Group 3: Financial Performance and Integration - The integration reforms of the subsidiary Grammer have shown significant results, with a reported net profit of 150 million RMB in the first three quarters of 2025, marking a turnaround from previous losses [3]. - The collaboration of "Chinese cost" and "German technology" has created a unique competitive advantage for the company in the global high-end seat market [3]. Group 4: Future Outlook - With the establishment of production bases in Europe and the successful acquisition of more overseas orders, the company is expected to capture a larger market share in the global high-end seat sector, promising long-term returns for investors [3].

Core Viewpoint - The company, Jifeng Co., Ltd. (继峰股份), has secured a significant contract for passenger car seat assemblies from a European luxury brand, marking a milestone in its global expansion strategy with an estimated total project value of 9.8 billion yuan over 8.5 years, starting in September 2028 [2][4]. Group 1: Project Details - The new project involves the development and production of front, middle, and rear seat assemblies for a global sales model [4]. - With this new contract, the total expected sales from Jifeng's projects is projected to exceed 100 billion yuan, with 25 projects in hand [3][5]. Group 2: Financial Performance - In the first three quarters of 2025, the company reported a net profit of 251 million yuan, recovering from a loss of 532 million yuan in the same period of 2024 [7]. - The operating cash flow turned positive, with a net inflow of 760 million yuan compared to a net outflow of 428 million yuan in the previous year [7]. Group 3: Strategic Implications - The acquisition of this contract signifies Jifeng's transition from a domestic supplier to a global player in the automotive interior components market, enhancing its competitive edge in the international high-end market [4][5]. - The company aims to deepen its overseas market presence, potentially leading to more international orders and establishing economies of scale in European production [5].

Group 1 - *ST Dongyi's restructuring plan has been approved by the court, marking the end of its restructuring process and entering the execution phase, which is expected to improve the company's financial structure and promote sustainable development [1] - Guankang Technology is planning to acquire at least 60% of Liaojing Electronics' shares, leading to a suspension of trading starting December 22, 2025, due to uncertainties surrounding the transaction [2] - Zhuoran Co. and its actual controller are under investigation for suspected violations of information disclosure laws, but the company's operations remain normal during this period [3] Group 2 - China Shenhua plans to issue A-shares and pay cash to acquire assets from its controlling shareholder, with a total transaction value of 133.598 billion yuan, which will significantly enhance its coal resource reserves and production capacity [5] - Bohai Chemical has decided to terminate its major asset restructuring plan due to a lack of agreement on key terms, with trading resuming on December 22, 2025 [6] - Jinshi Resources intends to acquire a 15.7147% stake in Noah Fluorine Chemical for approximately 256.94 million yuan, which will strengthen its position in the fluorine chemical sector [8] Group 3 - Qingdao Port plans to invest 9.097 billion yuan in the construction of a container terminal, with an expected internal rate of return of 8.15% [13] - Tianchuang Fashion is undergoing a potential change in control, leading to a suspension of its stock starting December 22, 2025, for a maximum of two trading days [12] - Deyu Water Conservancy has won a bid for a significant irrigation project in Guangxi, with a contract value of 1 billion yuan, which is expected to positively impact future earnings [15] Group 4 - The stock of Guizhou Bailin will be suspended for one day starting December 22, 2025, due to an administrative penalty notice, and will resume trading under the name "ST Bailin" [20] - *ST Weihai's stock will also be suspended for one day and will resume trading on December 23, 2025, with the removal of certain risk warnings [23] - Tianpu Co. has completed a public offering of shares, with a total of 33.52 million shares being offered at a price of 23.98 yuan per share [21]