| 名称 | 持有数量(万股) | 占总股本比 | 增减情况 | | --- | --- | --- | --- | | | | 例(%) | (万股) | | 宁波继弘控股集团有限公司 | 26925.66 | 21.27 | 不变 | | WING SING INTERNATIONAL CO., LTD. | 14688.00 | 11.60 | 不变 | | 王继民 | 11890.45 | 9.39 | 不变 | | 余万立 | 8632.58 | 6.82 | 不变 | | 中国工商银行股份有限公司-富国天惠精选成长混合型证券 | 3200.27 | 2.53 | 699.77 | | 投资基金(LOF) | | | | | 全国社保基金一一五组合 | 2200.00 | 1.74 | 650.70 | | 中国光大银行股份有限公司-兴全商业模式优选混合型证券 投资基金(LOF) | 2069.16 | 1.63 | 新进 | | 招商银行股份有限公司-兴全合润混合型证券投资基金 | 1975.11 | 1.56 | 新进 | | 兴业银行股份有限公司-兴全新视野灵活配置定期开放混合 型发起式证券投 ...

中国国际金融股份有限公司 上海证券交易所： 经中国证券监督管理委员会（以下简称"中国证监会"）出具的《关于同意宁波继 峰汽车零部件股份有限公司向特定对象发行股票注册的批复》（证监许可﹝2023﹞2537 号），宁波继峰汽车零部件股份有限公司（以下简称"继峰股份"、"公司"）向特定 对象发行人民币普通股（A股）100,000,000股，发行价格为11.83元/股，募集资金总额为 1,183,000,000.00元，扣除与本次发行有关费用人民币19,816,789.70元（不含增值税）， 实际募集资金净额为人民币1,163,183,210.30元。 中国国际金融股份有限公司（以下简称"中金公司"或"保荐机构"）作为继峰股份向 特定对象发行A股股票的保荐机构，负责继峰股份的持续督导工作。根据《证券发行上 市保荐业务管理办法》《上海证券交易所股票上市规则》《上海证券交易所上市公司自 律监管指引第11号——持续督导》等有关法律、法规和规范性文件的要求，中金公司于 2025年3月14日对继峰股份进行了现场检查，现将本次检查的情况报告如下： 一、本次现场检查的基本情况 （一）保荐机构：中国国际金融股份有限公司 （五）现场检 ...

| 证券代码：603997 | 证券简称：继峰股份 公告编号：2025-010 | | --- | --- | | 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 关于对外投资的公告 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： 投资标的名称：宁波继烨贸易有限公司（以下简称"宁波继烨"）、Jiye Auto Parts (Luxembourg) S.ar.l（以下简称"卢森堡继烨"）、Jiye Auto Parts GmbH （以下简称"德国继烨"）。 投资金额：宁波继峰汽车零部件股份有限公司（以下简称"公司"）通过 全资子公司宁波继烨、卢森堡继烨向德国继烨增资 5,000 万欧元或等值人民币。 一、对外投资概述 （一）对外投资的基本情况 1、本次投资情况 为降低财务费用，减少集团的利息支出，公司计划通过全资子公司宁波继烨、 卢森堡继烨间接向德国继烨增资 5,000 万欧元或等值人民币，用以归还德国继烨 的银行贷款。 2、对投资标的 12 个月内历史投资情况 2025 ...

一、董事会会议召开情况 2025 年 3 月 18 日，宁波继峰汽车零部件股份有限公司（以下简称"公司"） 第五届董事会第十五次会议以现场结合通讯的表决方式在公司会议室召开。本次 董事会应到董事 9 名，实到董事 9 名，其中王义平先生、王继民先生、冯巅先生、 张思俊先生、赵香球女士以视频接入的通讯方式参加会议。会议由董事长王义平 先生召集、主持，公司监事列席了会议。本次会议通知于 2025 年 3 月 13 日发出。 会议的召集、召开符合《中华人民共和国公司法》《中华人民共和国证券法》等 相关法律法规及《公司章程》的有关规定。 | 证券代码：603997 | 证券简称：继峰股份 | 公告编号：2025-009 | | --- | --- | --- | | 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 第五届董事会第十五次会议决议公告 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。 表决结果：同意 9 票，反对 0 票，弃权 0 票。 特此公告。 宁波继峰汽车零部件股份有限公司董 ...

| 证券代码：603997 | 证券简称：继峰股份 公告编号：2025-008 | | --- | --- | | 转债代码：110801 | 转债简称：继峰定 01 | （一）本次担保基本情况 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"） 的间接全资子公司继峰座椅（常州）有限公司（以下简称"继峰座椅（常州）"）、 继峰座椅（合肥）有限公司（以下简称"继峰座椅（合肥）"）、宁波继盛贸易 有限公司（以下简称"宁波继盛"）。 公司本次为继峰座椅（常州）提供担保的金额为 27,000 万元人民币，为 继峰座椅（合肥）提供担保的金额为 10,000 万元人民币，为宁波继盛提供担保 的金额为 10,000 万元人民币。截至本公告披露日，公司实际为继峰座椅（常州） 提供的担保余额为 102,000 万元人民币（含本次），为继峰座椅（合肥）提供的 担保余额为 100,000 万元人民币（含本次），为宁波继盛提供的担保余额为 10,000 万元人民币（含本次） ...

| 证券代码：603997 | 证券简称：继峰股份 公告编号：2025-007 | | --- | --- | | 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 关于更换持续督导保荐代表人的公告 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"）于近日收到保荐机 构中国国际金融股份有限公司（以下简称"中金公司"）出具的《关于更换宁波 继峰汽车零部件股份有限公司 2023 年度向特定对象发行 A 股股票项目持续督导 保荐代表人的说明》。 中金公司作为公司 2023 年度向特定对象发行 A 股股票项目的保荐机构，原 委派谢晶欣先生和孙靖譞先生为公司持续督导的保荐代表人。由于孙靖譞先生工 作调整，不再继续担任公司持续督导的保荐代表人，为保证持续督导工作的有序 进行，中金公司现委派谷珂女士（简历见附件）接替孙靖譞先生担任公司持续督 导的保荐代表人，继续履行对公司的持续督导职责。 谷珂女士，现任中金公司投资银行部高级经理、保荐代表人，具有注册会计 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company is expected to report a loss in 2024, with the negative impact gradually easing. The forecasted net profit for 2024 is between -590 million to -480 million yuan, compared to a profit of 204 million yuan in 2023. The adjusted net profit for 2024 is projected to be -541 million yuan, with a recovery expected in 2025 and 2026 [4][5]. Financial Summary - The total revenue for 2024 is estimated at 23.32 billion yuan, with a year-on-year growth of 8.1%. The net profit for 2025 is projected to be 682 million yuan, and for 2026, it is expected to reach 1.06 billion yuan [8]. - The company's gross margin is expected to improve from 14.3% in 2024 to 16.6% in 2026, while the net margin is projected to recover from -2.3% in 2024 to 3.8% in 2026 [8]. - The earnings per share (EPS) for 2024 is forecasted at -0.43 yuan, with a recovery to 0.54 yuan in 2025 and 0.84 yuan in 2026 [8]. Business Development - The company has secured 25 seat projects from 11 clients, indicating a diversified customer base that includes luxury car manufacturers and leading domestic new energy vehicle companies. The total potential revenue from these projects is estimated at 91.19 billion yuan [5]. - The emerging business in smart cockpits is showing rapid growth, with revenue from hidden air vent products increasing by 75% year-on-year to 166 million yuan in the first half of 2024 [5]. Regional Performance - The company is undergoing a restructuring process in its overseas operations, particularly in the Americas and Europe. The divestment of the non-core TMD business in the U.S. is expected to significantly improve profitability in the long term [6].

Investment Rating - The investment rating for the company is "Buy" and is maintained [6]. Core Views - The company is expected to report a net profit attributable to shareholders of -590 to -480 million yuan for 2024, with a non-recurring net profit of -570 to -460 million yuan. The decline in profitability is primarily due to the sale of TMD LLC and personnel optimization measures in the European region, which have led to significant one-time costs. However, the company is expected to benefit from a rich order backlog and improved profitability in its passenger car seat projects in the future [2][4][9]. Summary by Sections Financial Performance - The company anticipates a net profit attributable to shareholders of -590 to -480 million yuan for 2024, with a non-recurring net profit of -570 to -460 million yuan. The expected net profit for Q4 2024 is -3 million yuan, with a non-recurring net profit of 20 million yuan, representing a year-on-year decline of 50.1% [4][9]. Market Outlook - The global automotive market is expected to experience high demand in Q4 2024, with significant growth in passenger car sales in China, the US, and Europe. The company is poised to achieve good revenue growth due to increased sales and the launch of new seat business lines [9]. Strategic Initiatives - The company has successfully reduced the burden of TMD LLC, and the rapid growth of its seat business is expected to drive revenue and profit increases. The integration of overseas operations is gradually showing results, which will lead to significant profit elasticity as overseas profitability improves [9][10]. Profit Forecast - The projected net profits for 2024-2026 are -540 million, 740 million, and 1.17 billion yuan, respectively, with corresponding price-to-earnings ratios of 19.9X and 12.6X for 2025 and 2026 [9][10].

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected relative performance increase of over 15% against the benchmark index within the next 6 to 12 months [10]. Core Views - The company is expected to experience a significant turning point in performance due to the divestiture of loss-making assets and the realization of profitability in its seating business. The report highlights that the seating business has reached a scale-up phase, with substantial revenue growth anticipated [4][6]. - The divestiture of TMD, a wholly-owned subsidiary of Grammer in North America, is expected to alleviate financial burdens and improve overall profitability. The report notes that TMD incurred significant losses from 2021 to 2023, and its removal from the company's portfolio will lead to a notable recovery in Grammer's performance [4][6]. Summary by Sections Financial Performance - The company reported a revenue of 17,967 million in 2022, with projections of 21,571 million for 2023, and further growth to 23,407 million in 2024, 25,059 million in 2025, and 29,550 million in 2026. The year-on-year growth rates are 7% for 2022, 20% for 2023, and expected 9% for 2024 [2]. - The net profit attributable to the parent company is projected to be -1,417 million in 2022, turning to a profit of 204 million in 2023, but expected to decline to -544 million in 2024 before recovering to 676 million in 2025 and 1,084 million in 2026 [2]. - Earnings per share (EPS) are forecasted to be -1.12 in 2022, 0.16 in 2023, -0.43 in 2024, 0.53 in 2025, and 0.86 in 2026 [2]. Business Segments - The seating business has achieved a significant milestone, with revenues of 6.55 billion in 2023 and nearly 9 billion in the first half of 2024. The second quarter of 2024 marked the first quarter of profitability for this segment, indicating a robust growth trajectory [4]. - The report emphasizes the company's strong market position in the domestic and global automotive seating market, with a projected domestic market size of 1,500 billion by 2025, reflecting a compound annual growth rate (CAGR) of 17% [6]. Market Outlook - The report suggests that the company is well-positioned to lead the domestic automotive seating market, with a comprehensive order book and the ability to respond quickly to market demands. The successful acquisition of overseas orders, including from BMW, is seen as a step towards global market penetration [6].

Investment Rating - The report maintains a "Recommended" rating for the company, indicating a potential upside of over 15% relative to the benchmark index [6][12]. Core Views - The company's 2024 performance is expected to meet forecasts, with a projected net loss of 4.80 to 5.90 billion yuan, primarily due to significant one-time non-operating factors [1]. - The company has made substantial progress in the electric vehicle seating market, achieving mass production and significant revenue growth from its passenger car seat business [2]. - The integration of the company with Grammer is aimed at enhancing profitability and market share, positioning the combined entity as a potential global leader in smart cockpits [3]. Summary by Sections Financial Performance - For 2024, the company anticipates a net loss of 4.80 to 5.90 billion yuan, with a median estimate of -5.35 billion yuan. The fourth quarter is expected to show a significant narrowing of losses compared to previous periods [1]. - Revenue for 2023 is reported at 21.57 billion yuan, with projections of 23.02 billion yuan for 2024, 26.75 billion yuan for 2025, and 29.95 billion yuan for 2026, reflecting a growth rate of 6.7% in 2024 [5][10]. Market Position and Strategy - The company has secured multiple seating assembly projects with new energy vehicle manufacturers, achieving a cumulative delivery of 65,000 sets and generating revenue of 655 million yuan from May to December 2023 [2]. - The total value of the company's current seating projects is estimated between 881 to 928 billion yuan, with potential annual revenue of 147 to 155 billion yuan if all orders are produced in the same year [2]. Future Outlook - The report forecasts revenues of 230.20 billion yuan, 267.50 billion yuan, and 299.50 billion yuan for 2024, 2025, and 2026 respectively, with net profits expected to improve significantly by 2026 [3][5]. - The combined entity of the company and Grammer is positioned to leverage technological advantages and flexible operational mechanisms to capture a leading position in the smart cockpit market [3].