Dividend Distribution - The company plans to distribute a cash dividend of 3.90 RMB per 10 shares, totaling approximately 97.52 million RMB, which represents 39% of the net profit attributable to shareholders for the year 2024[7]. - The total number of shares for dividend calculation is 250,061,583 shares, with the dividend distribution subject to approval at the 2024 annual shareholders' meeting[7]. - The cumulative cash dividend over the last three accounting years amounts to approximately 267.09 million RMB, with a cash dividend ratio of 111.80% of the average annual net profit during that period[167]. - The company aims to maintain a cash dividend policy where at least 20% of the distributable profit is allocated as cash dividends annually, with a minimum of 30% over any three consecutive years[158]. - The total cash dividend amount for 2024, including share buybacks, is projected to be approximately 156.39 million RMB, which is 41.39% of the net profit attributable to shareholders[166]. - The company's profit distribution policy requires that any adjustments must prioritize shareholder rights and be approved by at least two-thirds of the voting rights at the shareholders' meeting[159]. - The board of directors is responsible for proposing the profit distribution plan, which must be reviewed and approved by the shareholders[160]. - The company has established a mechanism to ensure that independent directors can express their opinions on profit distribution plans that may harm the interests of minority shareholders[160]. Financial Performance - The company achieved total operating revenue of CNY 2,530,730,250.02 in 2024, an increase of 9.23% compared to the previous year[22]. - Net profit attributable to shareholders reached CNY 377,864,819.25, reflecting a year-on-year growth of 36.30%[22]. - The company reported a basic earnings per share of CNY 1.53, up 37.84% from CNY 1.11 in 2023[23]. - The weighted average return on equity increased to 16.37%, up 3.18 percentage points from the previous year[23]. - Operating cash flow net amount was CNY 468,961,438.09, a 10.60% increase compared to CNY 424,017,405.54 in 2023[22]. - The company’s total assets at the end of 2024 were CNY 4,853,067,434.40, a 6.05% increase from CNY 4,576,346,452.38 in 2023[22]. Business Operations and Growth - The company focused on the dual drive of "traditional business intelligence and new energy business scale," enhancing cooperation with electric vehicle manufacturers[32]. - In 2024, the company's main business revenue reached approximately ¥2.39 billion, accounting for 94.60% of total revenue, compared to ¥2.15 billion and 92.58% in 2023, indicating a stable growth trend[34]. - The main business revenue increased by ¥248.91 million, a year-on-year growth of 11.60%, primarily driven by a record high in domestic automobile production and sales, which grew by 3.7% and 4.5% respectively[37]. - The stamping parts business saw a year-on-year growth of 16.64%, supported by stable orders from traditional fuel vehicle clients and new growth from electric vehicle clients like Tesla and Li Auto[38]. - The selective precision plating business grew by 17.55%, benefiting from the increasing use of high-pressure fuel injection systems in both traditional and new energy vehicles[38]. Risk Management and Compliance - The company has outlined potential risks in its future development, which investors are advised to consider[9]. - The company has not violated decision-making procedures for external guarantees, maintaining compliance with regulations[9]. - The company adheres to governance regulations, ensuring independent operation from its controlling shareholder[118][122]. - The board of directors consists of 7 members, including 3 independent directors, ensuring compliance with governance standards[119]. - The company has established a sound management system, but expansion may introduce management risks if capabilities are not enhanced[113][114]. Environmental Responsibility - The company has implemented a robust internal control system to ensure the authenticity and completeness of financial reports[171]. - The company has reported zero discharge of chemical oxygen demand and heavy metals from its wastewater during the reporting period[176]. - The company has achieved a waste gas treatment capacity of 19,980 m³/h, with a removal efficiency of over 90% for major pollutants[178]. - The wastewater treatment facility has a capacity of 30 m³/d, achieving a 100% reuse rate for chromium-containing wastewater[178]. - The company has reduced carbon emissions by 1,213 tons through the adoption of new carbon reduction technologies and the promotion of electric forklifts[190]. Corporate Governance - The company held its first extraordinary general meeting on January 5, 2024, where 10 proposals were approved, including the issuance of convertible bonds to unspecified objects[125]. - The annual general meeting on May 9, 2024, approved 13 proposals, including the 2023 financial settlement report and the annual report[125]. - The company has established a remuneration and assessment committee to review the compensation of directors and senior management[134]. - The company has confirmed that there are no dissenting opinions regarding risk supervision during the reporting period[150]. - The company has a clear plan for future financing through convertible bonds, which may support its growth initiatives[125][126]. Research and Development - The company holds 148 patents, including 19 invention patents, showcasing its strong market competitiveness and R&D capabilities[46]. - The total R&D expenditure for the period was ¥62,817,169.39, representing 2.48% of operating revenue, with no capitalized R&D expenditures[65][66]. - The company employed 203 R&D personnel, making up 7.56% of the total workforce, with a significant portion holding undergraduate and specialized degrees[67]. Market Position and Strategy - The company has established stable partnerships with major clients including SAIC Volkswagen and Tesla, enhancing its market influence[48]. - The company is actively pursuing market expansion strategies and new product development initiatives[199]. - The company is focused on enhancing its competitive position in the market through strategic partnerships and collaborations[199].

目 录 我们接受委托，审计了无锡市振华汽车部件股份有限公司（以下简称无锡振 华公司）2024 年度财务报表，包括 2024 年 12 月 31 日的合并及母公司资产负债 表，2024 年度的合并及母公司利润表、合并及母公司现金流量表、合并及母公 司所有者权益变动表，以及财务报表附注，并出具了审计报告。在此基础上，我 们审计了后附的无锡振华公司管理层编制的 2024 年度《非经营性资金占用及其 他关联资金往来情况汇总表》（以下简称汇总表）。 一、非经营性资金占用及其他关联资金往来情况的专项 审计说明…………………………………………………………第 1—2 页 二、非经营性资金占用及其他关联资金往来情况汇总表………………第 3 页 非经营性资金占用及其他关联资金往来情况的 专项审计说明 天健审〔2025〕6401 号 无锡市振华汽车部件股份有限公司全体股东： 我们的审计是根据中国注册会计师执业准则进行的。中国注册会计师执业准 则要求我们计划和实施审计工作，以对审计对象信息是否不存在重大错报获取合 理保证。在审计过程中，我们实施了包括核查会计记录等我们认为必要的程序。 我们相信，我们的审计工作为发表意见提供了合理的基 ...

关于无锡市振华汽车部件股份有限公司 非经营性资金占用及其他关联资金往来情况 的专项审计报告 目 录 一、非经营性资金占用及其他关联资金往来情况的专项审计说明 ……………………………………………………………………第 1—2 页 二、非经营性资金占用及其他关联资金往来情况汇总表………………第 3 页 非经营性资金占用及其他关联资金往来情况的 专项审计说明 天健审〔2025〕 6401 号 无锡市振华汽车部件股份有限公司全体股东： 我们接受委托，审计了无锡市振华汽车部件股份有限公司（以下简称无锡 振华公司）2024 年度财务报表，包括 2024 年 12 月 31 日的合并及母公司资产 负债表，2024 年度的合并及母公司利润表、合并及母公司现金流量表、合并及 母公司所有者权益变动表，以及财务报表附注，并出具了审计报告。在此基础 上，我们审计了后附的无锡振华公司管理层编制的 2024 年度《非经营性资金占 用及其他关联资金往来情况汇总表》（以下简称汇总表）。 一、对报告使用者和使用目的的限定 本报告仅供无锡振华公司年度报告披露时使用，不得用作任何其他目的。 我们同意将本报告作为无锡振华公司年度报告的必备文件，随同其 ...

国泰海通证券股份有限公司 关于 无锡市振华汽车部件股份有限公司发行股份及支付现金购 买资产并募集配套资金暨关联交易 之 2024 年度持续督导意见暨持续督导总结报告 独立财务顾问 中国（上海）自由贸易试验区商城路 618 号 二零二五年四月 1 声 明 国泰海通证券股份有限公司接受无锡市振华汽车部件股份有限公司的 委托，担任本次发行股份及支付现金购买资产并募集配套资金暨关联交易之 独立财务顾问，并制作本持续督导意见。 根据《中华人民共和国公司法》《中华人民共和国证券法》《上市公司重 大资产重组管理办法》《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》《上市公司并购重组财务顾问业 务管理办法》等法律、法规之规定，按照证券行业公认的业务标准、道德规 范和诚实信用、勤勉尽责精神，遵循客观、公正原则，在认真审阅相关资料， 结合上市公司 2024 年年度报告，在充分了解本次交易实施情况的基础上， 出具了本持续督导意见暨持续督导总结报告。 1、本持续督导意见暨持续督导总结报告所依据的文件、材料由交易各 方提供，本次交易各方均已向本独立财务顾问保证：其所提供的有关本次资 产重组 ...

国泰海通证券股份有限公司 关于无锡市振华汽车部件股份有限公司 发行股份及支付现金购买资产并募集配套资金暨关联交易 之 2024 年度业绩承诺实现情况的核查意见 国泰海通证券股份有限公司（以下简称"国泰海通"或"独立财务顾问"） 作为无锡市振华汽车部件股份有限公司（以下简称"无锡振华"、"公司"）2023 年发行股份及支付现金购买资产并募集配套资金暨关联交易（以下简称"本次 重组"、"2023 年重组"）之独立财务顾问及主承销商，根据《上市公司重大资 产重组管理办法》《上市公司并购重组财务顾问业务管理办法》等法规的相关规 定，对本次重组标的公司无锡市振华开祥科技有限公司（以下简称"标的公司"、 "无锡开祥"）2024 年度业绩承诺实现情况进行了核查，并发表意见如下： 一、业绩承诺及补偿安排情况 （一）协议主体、签订时间 2022 年 9 月 23 日，无锡振华与钱金祥、钱犇签订了《盈利补偿协议》；2022 年 12 月 2 日，无锡振华与钱金祥、钱犇签署《盈利补偿协议之补充协议》。 （二）业绩承诺期间及承诺净利润数 根据公司与无锡开祥公司原股东钱金祥、钱犇签订的《盈利补偿协议》及 《盈利补偿补充协议》，无锡开祥 ...

目 录 | | | 二、业绩承诺完成情况的说明………………………………………第 3—4 页 关于无锡市振华开祥科技有限公司 业绩承诺完成情况的鉴证报告 二、管理层的责任 无锡振华公司管理层的责任是提供真实、合法、完整的相关资料，按照上海 证券交易所的相关规定编制《关于无锡市振华开祥科技有限公司 2024 年度业绩 承诺完成情况的说明》，并保证其内容真实、准确、完整，不存在虚假记录、误 导性陈述或重大遗漏。 三、注册会计师的责任 我们的责任是在实施鉴证工作的基础上对无锡振华公司管理层编制的上述 说明独立地提出鉴证结论。 四、工作概述 第 1 页 共 4 页 天健审〔2025〕6407 号 无锡市振华汽车部件股份有限公司全体股东： 我们鉴证了后附的无锡市振华汽车部件股份有限公司（以下简称无锡振华公 司）管理层编制的《关于无锡市振华开祥科技有限公司 2024 年度业绩承诺完成 情况的说明》。 一、对报告使用者和使用目的的限定 本鉴证报告仅供无锡振华公司年度报告披露时使用，不得用作任何其他目的。 我们同意将本鉴证报告作为无锡振华公司 2024 年度报告的必备文件，随同其他 文件一起报送并对外披露。 关于无锡市振华开祥 ...

4月24日无锡振华发布2024年度分配预案，拟10派3.9元（含税），预计派现金额合计为9752.40万元。派 现额占净利润比例为25.81%，这是公司上市以来，累计第5次派现。 公司上市以来历次分配方案一览 | 603596 | 伯特利 | 0.00 | 3.5 | 21164.88 | 17.51 | 0.73 | | --- | --- | --- | --- | --- | --- | --- | | | 钱江摩 | | | | | | | 000913 | 托 | 0.00 | 4 | 21064.44 | 31.13 | 2.43 | | | 广汽集 | | | | | | | 601238 | 团 | 0.00 | 0.2 | 20367.1 1 | 24.73 | 0.23 | | | 一汽富 | | | | | | | 600742 | 维 | 0.00 | 2.5 | 18576.45 | 36.51 | 2.87 | | | 亚普股 | | | | | | | 603013 | 份 | 0.00 | 3.5 | 17940.97 | 35.87 | 2.33 | | | 飞龙股 | | ...

► 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 ...

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].

Company Overview - Wuxi Zhenhua Automotive Parts Co., Ltd. is composed of Wuxi Zhenhua and its nine wholly-owned subsidiaries, located in Wuxi City, Binhu District [1] Financial Performance - In the fourth quarter of last year, Haifutong Fund's Haifutong Reform-Driven Mixed Fund reduced its holdings in Wuxi Zhenhua, with a current holding ratio of 0.74% [1] - The fund has reported a year-to-date return of -0.96%, ranking 1747 out of 2324 in its category [1] Fund Management - The fund manager of Haifutong Reform-Driven Mixed Fund is Zhou Xuejun, who has extensive experience in the investment management industry [3][4] - Zhou Xuejun has been with Haifutong Fund Management Co., Ltd. since February 2015, holding various managerial positions and managing multiple funds [3][4] Fund Company Background - Haifutong Fund Management Co., Ltd. was established in April 2003, with a shareholding structure where Haitong Securities Co., Ltd. holds 51% and Paris Asset Management BE holds 49% [4]