温州市冠盛汽车零部件集团股份有限公司 外汇衍生品交易业务管理制度 | | | 第一章 总则 第一条 为规范温州市冠盛汽车零部件集团股份有限公司（以下简称"公 司"）外汇衍生品交易业务及相关信息披露工作，加强对外汇衍生品交易业务的 管理，防范汇率风险，健全和完善公司外汇衍生品交易业务管理机制，维护公司 及股东利益，根据《中华人民共和国公司法》《中华人民共和国证券法》《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 5 号—— 交易与关联交易》等有关法律、法规、规范性文件的有关规定，结合《温州市冠 盛汽车零部件集团股份有限公司章程》（以下简称"《公司章程》"）及公司实 际业务情况，特制定本制度。 第二条 本制度所称外汇衍生品交易业务主要包括但不限于远期业务、掉期 业务、期权业务及其他外汇衍生产品业务。 第三条 本制度适用于公司及下属子公司的外汇衍生品交易业务。 第二章 外汇衍生品交易业务操作规定 第四条 公司的外汇衍生品交易须以正常的生产经营为基础，与公司实际业 务相匹配，需以规避和防范汇率风险为主要目的，不得进行以投机为目的的外汇 交易。 第五条 公司进行外汇衍生品交易业务需使用与外汇衍生 ...

Core Viewpoint - The company has announced a shareholder dividend return plan for the next three years (2025-2027), committing to a minimum cash distribution of 10% of the annual distributable profit, provided cash dividend conditions are met [1] Group 1 - The company will distribute cash profits of no less than 10% of the annual distributable profits if conditions are met [1] - Over the last three years, the company will ensure that the cumulative cash distribution is at least 30% of the average annual distributable profits [1] - If the company's net profit continues to grow steadily, it may increase the cash dividend ratio or implement stock dividends to enhance returns to investors [1]

Investment Rating - The industry investment rating is "Overweight" indicating that the industry is expected to outperform the overall market [11]. Core Insights - Recent communications with overseas investors reveal a difference in perception compared to domestic investors, with overseas investors focusing more on the long-term global competitiveness of Chinese automotive companies rather than short-term domestic market fluctuations. They view investments in companies like BYD as a hedge against their local automotive industry [4][5]. - There is a strong interest from overseas investors in new technological trends within the Chinese automotive industry, particularly in smart driving and robotics. Positive feedback has been noted regarding the advanced driving assistance features from brands like Xpeng and Li Auto, suggesting potential valuation growth for companies with core technologies and global capabilities [5]. - The report suggests a positive outlook for strong automotive manufacturers capable of successful international expansion and component manufacturers with product and cost advantages [5]. Summary by Sections Overseas Investors - Overseas investors are more concerned with the long-term competitiveness and globalization strategies of Chinese automotive companies, particularly BYD, which is expected to maintain a market cap above 750 billion RMB unless there are significant changes in its global strategy [4]. Technological Trends - The report highlights the growing interest in smart driving technologies among overseas investors, who have provided positive feedback on the driving assistance technologies of brands like Xpeng and Li Auto. This trend is expected to create new valuation opportunities for companies with strong technological capabilities [5]. Investment Recommendations - The report recommends focusing on two main themes: technology and state-owned enterprise reform. Specific recommendations include: 1. Strong domestic manufacturers like BYD, Geely, and Xpeng [5]. 2. Companies aligned with the trend of smart technology, such as Jianghuai Automobile and Seres, with a focus on Li Auto, Kobot, Desay SV, and Jingwei Hirun [5]. 3. State-owned enterprise consolidations, recommending attention to SAIC Motor, Dongfeng Motor, and Changan Automobile [5]. 4. Component manufacturers with strong performance growth and overseas expansion capabilities, recommending Fuyao Glass, New Spring, Fuda, Shuanghuan Transmission, and Yinlun [5].

Group 1: Market Overview - The macroeconomic environment remains supportive with expectations of further easing from the Federal Reserve, which has already lowered rates by 25 basis points in September, with projections for additional cuts by the end of the year [2] - A-shares are experiencing a high level of trading activity, with average daily turnover exceeding 2.45 trillion yuan in September, up from 2.31 trillion yuan in August, indicating strong market liquidity [2] - The technology sector continues to show strength, with the Wande Technology Index accounting for 40.8% of total A-share trading volume, reflecting ongoing liquidity inflows into this sector [2] Group 2: Sector Analysis - The technology sector is characterized by a clear differentiation between high and low performers, with previous leaders like optical modules and communication equipment seeing lower gains in September, while semiconductor materials and energy storage stocks have shown significant recovery [2][3] - Cyclical and dividend-paying stocks remain weak due to poor economic data, with various sectors underperforming compared to technology [3] - The current risk premium for A-shares is low, with the risk premium for the CSI 300 index at 5.19%, close to historical lows, suggesting limited downside potential [3] Group 3: Investment Strategy - The report recommends focusing on technology stocks with a strong price-performance ratio, particularly those that have lagged behind in previous rallies, to enhance potential returns [5] - There is an emphasis on upstream materials related to energy storage and semiconductor industries, such as lithium and cobalt, which are expected to benefit from ongoing demand growth in electric vehicles and semiconductor manufacturing [5] - The October stock selection includes a diverse range of sectors, highlighting companies in innovative pharmaceuticals, electronics, automotive, and communications, indicating a strategic approach to capitalize on sectoral strengths [10][11]

Core Viewpoint - The company is utilizing part of its idle raised funds for cash management, ensuring high safety and liquidity while adhering to relevant regulations [2][3][10]. Cash Management Basic Situation - The company approved the use of up to RMB 300 million of temporarily idle raised funds for cash management, ensuring it does not affect the construction of investment projects [3]. - The investment products include high-safety, liquid financial products with capital protection agreements, such as structured deposits and large-denomination certificates of deposit [3][9]. - The cash management period is from the approval date until the annual board meeting in 2025, with a maximum investment product duration of 12 months [3]. Cash Management Risk Situation - The company purchased a structured deposit product with a term of 99 days, expected to yield an annualized return of 1.00%-2.00% based on the performance of the AUD/USD exchange rate [6][7]. - The investment strategy involves a risk-return profile where the yield is contingent on the performance of financial market indicators [9]. Financial Impact and Measures - The investment of RMB 300 million represents 23.62% of the company's latest unaudited cash balance and 10.74% of its net assets [10]. - The cash management is designed to enhance the efficiency of idle funds without impacting normal business operations, thereby benefiting the company and its shareholders [10]. - The company will adhere to the "New Financial Instruments Standards" for accounting treatment, which may affect various financial statement items [10]. Internal Control on Cash Management Risks - The company follows prudent investment principles, selecting issuers with strong credit ratings and safety guarantees [11]. - The finance department will monitor the investment products and take necessary actions if risks are identified [12]. - The supervisory board has the authority to inspect investment activities and may engage professional firms for audits if necessary [12].

证券代码：605088 证券简称：冠盛股份 公告编号：2025-088 温州市冠盛汽车零部件集团股份有限公司 关于使用部分闲置募集资金进行现金管理的 进展公告 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： 前次产品赎回基本情况 | 产品名称 | 共 赢 | | 智 | 信 | 利 | 率挂 | 钩 | 人 | 民 币 | 结 | 构 性 | 存款 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | A06891 | | 期 | | | | | | | | | | 受托方名称 | | | | 中信银行杭州分行 | | | | | | | | | | 购买金额 | | 30,000 | | 万元 | | | | | | | | | | 产品期限 | 90 | 天 | | | | | | | | | | | | 实际收益 | | 133.15 | | 万元 | | | | | | | | | ...

Group 1 - The humanoid robot concept stocks experienced a significant surge at the beginning of trading on September 12, with Wald increasing by over 15% [1] - Longsheng Technology and Guansheng Co., Ltd. both saw increases of over 7% [1] - Other companies such as Wolong Electric Drive, New Times, and Wuzhou New Spring also showed upward movement in their stock prices [1]

Core Viewpoint - The humanoid robot concept stocks experienced a significant surge in early trading, indicating strong market interest and potential investment opportunities in this sector [1] Company Summaries - Wald increased by over 10%, reflecting investor confidence and interest in humanoid robotics [1] - Longsheng Technology and Guansheng Co. both rose by more than 7%, suggesting a positive market sentiment towards these companies [1] - Wolong Electric Drive, New Times, and Wuzhou Xinchun also saw notable gains, indicating a broader trend of rising stock prices within the humanoid robot industry [1]

Group 1 - The company, Guansheng Co., Ltd. (605088.SH), announced that its semi-solid state battery production line is expected to reach full capacity by mid-2026 [1] - The company has completed brand registrations for solid-state batteries in Germany, the UK, and Italy, and is currently undergoing certification for European standards [1] - The company is positioned as a leader in the industrialization of semi-solid state batteries [1]

Group 1 - The company, Guansheng Co., Ltd. (605088.SH), announced that its semi-solid state battery production line is expected to reach full capacity by mid-2026 [1] - The company has completed brand registrations for solid-state batteries in Germany, the UK, and Italy, and is currently undergoing certification for European standards [1] - The company is positioned as a leader in the industrialization of semi-solid state batteries [1]