| 重要内容提示： | | --- | | 回购方案首次披露日 | 2025/12/24 | | | | | | --- | --- | --- | --- | --- | --- | | 回购方案实施期限 | 年 月 月 2026 8 1 7 | 1 | 日~2027 | 年 | 日 | | 预计回购金额 | 5,000万元~10,000万元 | | | | | | 回购用途 | √减少注册资本 √用于员工持股计划或股权激励 | | | | | | | □用于转换公司可转债 □为维护公司价值及股东权益 | | | | | | 累计已回购股数 | 124.76万股 | | | | | | 累计已回购股数占总股本比例 | 0.2976% | | | | | | 累计已回购金额 | 3,623.72万元 | | | | | | 实际回购价格区间 | 27.05元/股~33.20元/股 | | | | | 一、回购股份的基本情况 深圳威迈斯新能源（集团）股份有限公司（以下简称"公司"）分别于 2025 年 12 月 23 日、2026 年 1 月 8 日召开第三届董事会第九次会议、2026 年第一次临时 股东会，审 ...

Core Viewpoint - The company acknowledges the saturation of the domestic electric vehicle market and is focusing on optimizing its product structure while increasing its presence in international markets [1] Group 1: Domestic Market Strategy - The company plans to maintain lean production management and increase R&D investment based on market demand by 2025 [1] - There is an expectation of a significant slowdown in domestic market growth due to saturation trends [1] Group 2: International Market Expansion - The company is actively pursuing a "globalization" strategy, leveraging close cooperation with Stellantis to enhance its international footprint [1] - The company has secured partnerships and commenced mass production with international automakers such as Renault, Aston Martin, and Ferrari [1]

证券代码：688612 证券简称：威迈斯 公告编号：2026-010 深圳威迈斯新能源（集团）股份有限公司 关于持股 5%以上股东部分股份解除质押的公告 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。 重要内容提示： 深圳威迈斯新能源（集团）股份有限公司（以下简称"公司"）股东、董事、总经 理刘钧先生直接持有公司股份的数量为 27,379,309 股，占公司总股本的比例为 6.53%。本次 股份解除质押业务办理完成后，刘钧先生剩余被质押的公司股份数量为 4,500,000 股，占其 持股总数的 16.44%，占公司总股本的 1.07%。 一、本次股份解除质押情况 公司近日收到公司股东、董事、总经理刘钧先生通知，获悉其所直接持有的 部分公司股份办理了解除质押手续，具体情况如下： | 股东 | 是否为控 | 本次解除质押股 | 是否为 | 解除质押 | 质权人 | 占其所持 | 占公司总 | | --- | --- | --- | --- | --- | --- | --- | --- | | 名称 | 股股东 | 份数量（股 ...

证券代码：688612 证券简称：威迈斯 公告编号：2026-009 深圳威迈斯新能源（集团）股份有限公司 关于以集中竞价交易方式回购股份的进展公告 | 重要内容提示： | | --- | | 回购方案首次披露日 | 2025/12/24 | | | | --- | --- | --- | --- | | 回购方案实施期限 | 年 月 年 月 2026 1 8 1 7 | 日~2027 | 日 | | 预计回购金额 | 5,000万元~10,000万元 | | | | 回购用途 | √减少注册资本 √用于员工持股计划或股权激励 □用于转换公司可转债 | | | | 累计已回购股数 | □为维护公司价值及股东权益 31.91万股 | | | | 累计已回购股数占总股本比例 | 0.0761% | | | | 累计已回购金额 | 1,040.71万元 | | | | 实际回购价格区间 | 29.95元/股~33.20元/股 | | | 一、回购股份的基本情况 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。 三、其他事项 公司将严格 ...

Investment Rating - Investment rating: Positive (maintained) [1] Core Viewpoints - The report indicates that the European electric vehicle market is expected to continue growing, driven by the resumption of subsidies in Germany and Sweden, as well as the continuation of subsidy policies in the UK, France, Italy, and Spain. This growth is further supported by a new round of vehicle cycles [7][14][38] - The EU's proposal to adjust the 2035 emission reduction targets is not expected to impact the long-term trend of electrification in Europe. Instead, it introduces incentives for small electric vehicles and imposes requirements on zero-emission models for corporate fleets, which will further promote electric vehicle sales [7][38] Summary by Sections Electric Vehicle Sales in Europe - In January 2026, the sales of new energy vehicles in nine European countries reached 207,000 units, a year-on-year increase of 23.1%, with a penetration rate of 29.5%, up by 6.1 percentage points [5][14] - Germany's BEV sales in January 2026 were 43,000 units, up 23.8% year-on-year, with the resumption of electric vehicle subsidies [19] - The UK saw BEV sales of 30,000 units in January 2026, a slight increase of 0.1% year-on-year, while PHEV sales rose by 47.3% [21] - France's BEV sales reached 30,000 units in January 2026, marking a significant year-on-year increase of 52.1% [23] - Sweden's BEV sales were 7,000 units in January 2026, up 18.6% year-on-year, with new subsidies starting in 2026 [25] - In Italy, BEV sales were 9,000 units in January 2026, a year-on-year increase of 40.4% [29] - Spain's BEV sales reached 6,000 units in January 2026, up 29.1% year-on-year [34] Investment Recommendations - Lithium Batteries: Recommended companies include CATL, Yiwei Lithium Energy, and Xinwangda, with beneficiaries including Zhongxin Innovation and Guoxuan High-Tech [7][38] - Lithium Materials: Recommended companies include Hunan Youneng and Tianci Materials, with beneficiaries including Fulian Precision and Wanrun New Energy [7][38] - Lithium Battery Structural Components: Recommended companies include Minglida and Minshi Group, with beneficiaries including Kodali and Hesheng Co [40] - Power/Electric Drive Systems: Recommended companies include Weimaisi and Futec Technology, with beneficiaries including Xinrui Technology and Huangshan Gujie [40] - Charging Stations and Modules: Recommended companies include Youyou Green Energy and Tonghe Technology, with beneficiaries including Shenghong Co [40]

Core Viewpoint - The demand for vehicle power supplies is showing signs of slowing down in the fourth quarter, impacting the overall performance of the company [1]. Group 1: Company Performance - VMAX (威迈斯) reported an estimated revenue of 6.342 billion in 2025, a slight decline of 0.48% year-on-year, while net profit attributable to shareholders is expected to reach 557 million, reflecting a growth of 39.22% [4]. - The company has initiated a share buyback program with a total amount of 9.09 million, with share prices ranging between 32.38 and 33.20 per share, which is higher than the closing price on the first trading day after the earnings announcement [5]. - The company has achieved a historical high in profit growth despite a stable revenue outlook, with the vehicle power supply segment contributing 89% of its main business income in the first half of 2025 [15]. Group 2: Market Position and Product Development - VMAX is a leading player in the vehicle power supply market, holding approximately 16% market share in the domestic passenger vehicle onboard charger market, ranking second after BYD's Fudi Power [14]. - The company has successfully transitioned from general power supplies to automotive-grade power supplies, focusing on integrated vehicle power supply products, including onboard chargers and DC/DC converters [9]. - VMAX has entered mass production of 800V high-voltage platform SiC products, supplying to several high-end models from brands like Xiaopeng and Ideal [16]. Group 3: Industry Trends and Future Outlook - The vehicle power supply business saw a revenue growth of 3.5% in 2024, but the growth rate is expected to slow down in 2025, with a projected revenue of 5.107 billion [18]. - The electric drive system has shown remarkable growth, with a revenue increase of 418.39% in 2024, continuing to grow by 12.7% in the first half of 2025 [20]. - The company anticipates a decline in revenue for the fourth quarter of 2025, which is traditionally a peak season, indicating a potential downturn in demand [20]. - The company is also focusing on expanding its overseas market presence, with Stellantis becoming one of its top five clients, although overseas revenue saw a significant decline of 46.6% in the first half of 2025 [24][26].

Group 1 - On February 24, the company Weimais executed a block trade of 181,200 shares, with a transaction value of 5.5012 million yuan, accounting for 4.11% of the total trading volume for the day [1] - The transaction price was 30.36 yuan, which remained stable compared to the market closing price of 30.36 yuan [1] - The trading involved multiple brokerage firms, including CITIC Securities and China International Capital Corporation [2]

Core Viewpoint - Weimars (688612.SH) has achieved rapid growth in its operating performance, with a record net profit of approximately 557 million yuan in 2025, marking a year-on-year increase of 39.22% [1][3]. Financial Performance - In 2025, Weimars reported an operating revenue of approximately 6.342 billion yuan, a slight decrease of 0.48% compared to the previous year [3]. - The net profit attributable to shareholders reached about 557 million yuan, representing a year-on-year growth of 39.22%, while the non-recurring net profit was approximately 521 million yuan, up 46.71% year-on-year [3]. R&D Investment - Weimars has consistently increased its R&D investment for four consecutive years, with expenditures rising from 76.56 million yuan in 2020 to 385 million yuan in 2024, and 309 million yuan in the first three quarters of 2025 [4]. - The company focuses on optimizing product performance through technological innovation, which enhances its market competitiveness in the rapidly evolving electric vehicle sector [4]. Market Position and Strategy - Weimars specializes in the electric vehicle sector, primarily producing onboard power products such as onboard chargers and integrated power products [4]. - The company has secured 26 overseas patents related to magnetic integration technologies and has established partnerships with major automotive manufacturers like XPeng Motors and Changan Automobile [4]. - By aligning its product structure with market demand and increasing the sales proportion of high-value products, Weimars has improved its profitability [3].

Group 1 - The core point of the announcement is that Liu Jun, the shareholder, director, and general manager of Shenzhen Weimaisi New Energy (Group) Co., Ltd., has pledged a portion of his shares, totaling 11,900,000 shares, which represents 43.46% of his total holdings and 2.84% of the company's total share capital [2][3]. - The pledged shares are not used as collateral for major asset restructuring or performance compensation, and there are no potential performance compensation obligations associated with these shares [3]. - As of the date of the announcement, the cumulative pledged shares by the shareholder are detailed, and the company will fulfill its information disclosure obligations in case of any significant changes [4].

Group 1 - The core point of the announcement is that Liu Jun, a shareholder, director, and general manager of Shenzhen Weimais New Energy (Group) Co., Ltd., has pledged part of his shares, totaling 11,900,000 shares, which accounts for 43.46% of his total holdings and 2.84% of the company's total share capital [2][3]. - The pledged shares are not used as collateral for major asset restructuring or performance compensation, and there are no potential performance compensation obligations associated with these shares [3]. - As of the date of the announcement, the cumulative pledged shares by the shareholder are disclosed, and the company commits to timely information disclosure in case of any significant changes [4].