Core Viewpoint - Lingsheng Electric Control (688667.SH) reported a decline in institutional investor holdings in its semi-annual report for 2025, indicating a potential shift in investor sentiment [1] Institutional Holdings - As of August 15, 2025, three institutional investors disclosed holdings in Lingsheng Electric Control, totaling 3.3893 million shares, which represents 6.54% of the company's total share capital [1] - The institutional holding percentage decreased by 2.55 percentage points compared to the previous quarter [1] Public Fund Holdings - One new public fund, Xingyin Zhongzheng 1000 Index Enhanced A, was disclosed in this period, while one public fund, Jinxin Prosperity Preferred Mixed A, was not disclosed compared to the previous quarter [1]

Core Points - The company has completed the registration of shares related to its stock incentive plans, resulting in an increase in total share capital from 51,812,140 shares to 52,214,531 shares, and the registered capital has changed from RMB 51,812,140 to RMB 52,214,531 [2][5] - The company plans to amend its articles of association to reflect the changes in registered capital and has authorized relevant personnel to handle the necessary business registration changes [5][6] - The amendments to the articles of association will not affect other provisions, and the final content will be subject to approval by the business registration authority [5]

Core Insights - The company reported a significant increase in revenue and net profit for the first half of 2025, indicating strong financial performance [1] Financial Performance - The company achieved operating revenue of 631.77 million yuan for the first half of 2025, representing a year-on-year growth of 17.78% [1] - The net profit attributable to shareholders of the listed company was 43.02 million yuan, showing a remarkable year-on-year increase of 481.88% [1]

Core Viewpoint - The company, Lingdian Electric Control, reported significant growth in its half-year performance, driven by increased sales revenue and improved R&D efficiency, positioning itself strongly in the automotive power electronics control system market [1][2]. Financial Performance - For the first half of 2025, the company achieved an operating revenue of approximately 632 million yuan, representing a year-on-year increase of 17.78% [1]. - The net profit attributable to shareholders reached 43.02 million yuan, a substantial increase of 481.88% year-on-year [1]. - The net profit after deducting non-recurring items was 36.82 million yuan, showing a remarkable growth of 959.57% compared to the previous year [1]. - R&D investment during the reporting period amounted to 69.15 million yuan, accounting for 10.95% of operating revenue [1]. Business Strategy and Market Position - Lingdian Electric Control focuses on the development of automotive engine management systems, electric vehicle power electronics control systems, hybrid vehicle power electronics control systems, and intelligent connected products [1]. - The company has established a presence in the EMS market, with its products being used by major clients such as Li Auto, Leap Motor, and JAC, and is actively expanding into overseas markets [2]. - The company aims to leverage its customer advantages in the EMS field to expand the application of electrification products, particularly in hybrid models [2]. Recent Developments - The company's stock price has increased by over 60% this year, with a closing price of 66.7 yuan and a market capitalization of 3.5 billion yuan as of August 15 [3]. - Lingdian Electric Control announced plans to acquire 98.426% of Aoyikes for a transaction price of 478 million yuan, aiming to enhance its market position and promote domestic substitution of EMS products [3].

Group 1 - The company reported a revenue of 632 million yuan for the first half of 2025, representing a year-on-year increase of 17.78% [1] - The net profit attributable to shareholders reached 43.02 million yuan, showing a significant year-on-year growth of 481.88% [1] - The non-recurring net profit was 36.82 million yuan, with an impressive year-on-year increase of 959.57% [1] - The basic earnings per share stood at 0.83 yuan [1]

Group 1 - The company reported a revenue of 632 million yuan for the first half of 2025, representing a year-on-year increase of 17.78% [1] - The net profit attributable to shareholders reached 43.02 million yuan, showing a significant year-on-year growth of 481.88% [1] - The non-recurring net profit was 36.82 million yuan, with an impressive year-on-year increase of 959.57% [1] - The basic earnings per share stood at 0.83 yuan [1]

Core Viewpoint - Wuhan Lincontrol Automotive Electronics Co., Ltd. reported significant growth in revenue and profit for the first half of 2025, driven by increased sales of engine management systems and electric vehicle control systems. Company Overview and Key Financial Indicators - The company reported operating revenue of 631.77 million yuan, a 17.78% increase from the previous year [3] - Total profit reached 40.15 million yuan, a 400.90% increase year-on-year [3] - Net profit attributable to shareholders was 43.02 million yuan, up 481.88% from the same period last year [3] - The company's net assets increased by 2.91% to 1.67 billion yuan compared to the end of the previous year [3] Business and Product Overview - The company specializes in engine management systems, pure electric vehicle power electronic control systems, hybrid vehicle power electronic control systems, and related technology development and calibration services [4][8] - Key products include gasoline EMS, dual-fuel EMS, and various controllers for electric and hybrid vehicles [4][8] - The company’s revenue model includes technical service fees during the development phase of new vehicle models and sales revenue from control systems [8] Industry Context - The automotive power electronic control system industry is characterized by high technical barriers and long industrial cycles, requiring significant investment in human resources and capital [10] - The market for electric and hybrid vehicles is expanding rapidly, with significant growth in sales, indicating a shift towards diversified power sources in the automotive sector [9] - The company faces competition from both domestic and international players in the EMS and electric vehicle control system markets, including Bosch and Huawei [9][10]

Core Viewpoint - Wuhan Lingdian Automotive Control System Co., Ltd. reported significant growth in its financial performance for the first half of 2025, with notable increases in revenue and net profit compared to the previous year [1]. Financial Summary - Total assets at the end of the reporting period reached CNY 215,131.69 million, an increase of 4.01% from CNY 206,843.51 million at the end of the previous year [1]. - Net assets attributable to shareholders of the listed company were CNY 166,683.95 million, up 2.91% from CNY 161,973.58 million [1]. - Operating revenue for the period was CNY 63,177.24 million, representing a 17.78% increase from CNY 53,640.34 million in the same period last year [1]. - Total profit amounted to CNY 4,014.58 million, a substantial increase of 400.90% from CNY 801.47 million [1]. - Net profit attributable to shareholders reached CNY 4,302.12 million, up 481.88% from CNY 739.35 million [1]. - The net profit after deducting non-recurring gains and losses was not specified [1]. - Net cash flow from operating activities was CNY 8,483.89 million, a significant improvement from a negative CNY 3,461.84 million in the previous year [1]. - The weighted average return on net assets increased to 2.61%, up 2.15 percentage points from 0.46% [1]. - Basic earnings per share were CNY 0.83, compared to CNY 0.14 in the previous year [1]. Shareholder Information - As of the end of the reporting period, the total number of shareholders was 4,185 [2]. - The largest shareholder, Wang Heping, holds 25.86% of the shares, followed by Gong Benhe with 23.77% [2]. - Other notable shareholders include Ningbo Meishan Free Trade Port Area Ling Control Investment Partnership (Limited Partnership) with 5.22% and Wu Zhanghua with 3.92% [2].

（文章来源：每日经济新闻） 菱电电控（SH 688667，收盘价：66.7元）8月15日晚间发布半年度业绩报告称，2025年上半年营业收入 约6.32亿元，同比增加17.78%；归属于上市公司股东的净利润4302.12万元，同比增加481.88%；基本每 股收益0.83元，同比增加493.09%。 ...

武汉菱电汽车电控系统股份有限公司章程 武汉菱电汽车电控系统股份有限公司 章 程 二〇二五年八月 0 | 第二章 | 经营宗旨和范围 2 | | | --- | --- | --- | | 第三章 | 股份 | 2 | | 第一节 | 股份发行 | 3 | | 第二节 | 股份增减和回购 4 | | | 第三节 | 股份转让 | 5 | | 第四章 | 股东和股东会 6 | | | 第一节 | 股东的一般规定 6 | | | 第三节 | 股东会的一般规定 10 | | | 第三节 | 股东会的召集 12 | | | 第四节 | 股东会的提案与通知 14 | | | 第六节 | 股东会的表决和决议 18 | | | 第五章 | 董事和董事会 22 | | | 第一节 | 董事的一般规定 23 | | | 第二节 | 董事会 | 26 | | 第三节 | 独立董事 | 32 | | 第四节 | 董事会专门委员会 34 | | | 第六章 | 总经理及其他高级管理人员 36 | | | 第七章 | 财务会计制度、利润分配和审计 38 | | | 第一节 | 财务会计制度 38 | | | 第二节 | 内部审计 | 4 ...