Core Viewpoint - The domestic internal combustion engine sales in August 2025 reached 4.4476 million units, showing a month-on-month increase of 1.94% and a year-on-year increase of 17.63%, indicating a positive trend in the automotive market driven by macro policies and industry adjustments [1] Summary by Sections Internal Combustion Engine Sales - In August 2025, internal combustion engine sales were 4.4476 million units, with a cumulative sales of 34.6006 million units from January to August, reflecting a year-on-year growth of 14.97% [1] - The commercial vehicle market, particularly multi-cylinder diesel engines, also showed strong performance with sales of 152,000 units in August, marking a month-on-month increase of 9.04% and a year-on-year increase of 11.79% [13] Diesel Engine Sales - Diesel engine sales in August 2025 totaled 372,500 units, with a month-on-month increase of 1.42% and a year-on-year increase of 5.56%. Cumulative sales from January to August reached 3.4046 million units, reflecting a year-on-year growth of 4.57% [2] Multi-Cylinder Diesel Engine Performance - Multi-cylinder diesel engine sales in August reached 306,700 units, with a month-on-month increase of 6.08% and a year-on-year increase of 7.15%. Cumulative sales from January to August were 2.7508 million units, showing a year-on-year growth of 4.47% [4] - The top ten companies in cumulative sales accounted for 77.95% of the total multi-cylinder diesel engine sales, slightly up from 77.85% in the previous month [4] Company Rankings and Performance - Weichai maintained its leading position with sales of 70,000 units in August, achieving a month-on-month growth of 29.88%. Yuchai and Yunnei followed with sales of 41,000 and 22,300 units, respectively [6] - Cumulative sales data for the first eight months showed Weichai at 500,400 units, Yuchai at 393,600 units, and Yunnei at 235,500 units, with respective market shares of 18.19%, 14.31%, and 8.56% [9][11] Commercial Vehicle Multi-Cylinder Diesel Engine Sales - In August, commercial vehicle multi-cylinder diesel engine sales reached 151,000 units, with cumulative sales from January to August at 1.3141 million units, reflecting a year-on-year growth of 4.44% [12] - Weichai led the commercial vehicle multi-cylinder diesel engine market with cumulative sales of 278,100 units, holding a market share of 21.16% [16] Market Outlook - Despite being a traditional off-season, the performance of multi-cylinder diesel engines in August was commendable, with expectations for a strong demand in the upcoming peak season [20]

股票简称：ST 云动 股票代码：000903 编号：2025—055 号 昆明云内动力股份有限公司 债权人可采用现场、邮寄、电子邮件或传真的方式进行债权申报，具体方式 如下： 1、申报时间：2025 年 9 月 13 日至 10 月 27 日上午 8:30-12:00；下午 13:30-17:00（双休日及法定节假日除外） 关于回购注销部分限制性股票减少注册资本 暨通知债权人的公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚假记载、误 导性陈述或重大遗漏。 昆明云内动力股份有限公司（以下简称"公司"）于 2025 年 8 月 25 日召开 第七届董事会第十二次会议和第七届监事会第九次会议，审议通过了《关于回购 注销 2022 年限制性股票激励计划部分限制性股票的议案》。 鉴于公司 2022 年限制性股票激励计划首次授予部分中 1 名激励对象退休不 再具备激励对象资格及 1 名激励对象持有的因第二个限售期（2024 年）解除限 售条件未成就而应解除限售的限制性股票解除司法冻结，其合计持有的 117,000 股不符合解除限售条件的限制性股票应由公司回购注销，回购注销股份占公司当 前股本总额的 ...

云南澜湄律师事务所 云内动力 2025 年第二次临时股东大会法律意见书 云南澜湄律师事务所 关于昆明云内动力股份有限公司 2025年第二次临时股东大会的 法律意见书 致：昆明云内动力股份有限公司 云南澜湄律师事务所（以下简称"本所"）接受昆明云内动力股份有限公司 （以下简称"公司"）的委托，指派律师出席了公司 2025 年第二次临时股东大 会（以下简称"本次股东大会"）。 本所及经办律师根据《中华人民共和国公司法》（以下简称"《公司法》"）、 《中华人民共和国证券法》（以下简称"《证券法》"）、《上市公司股东大会 规则》（以下简称"《股东大会规则》"）等法律、法规及规范性文件和《昆明 云内动力股份有限公司章程》（以下简称"《公司章程》"）的有关规定，对本 次股东大会的召集与召开程序、出席会议人员资格、会议召集人资格、表决程序 及表决结果等事项出具法律意见书。 本所律师声明： 一、在审查有关文件过程中，公司已向本所承诺并保证，其向本所提供的文 件和所作的说明是完整、真实和准确的，并已提供出具本法律意见书所必需的文 件材料或口头证言，并保证其所提供的有关副本材料或复印件与正本或原件一致。 二、本所律师同意将本法律 ...

股票简称：ST 云动 股票代码：000903 编号：2025—054 号 昆明云内动力股份有限公司 2025 年第二次临时股东大会决议公告 本公司及其董事会全体成员保证公告内容的真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 特别提示： 1、本次股东大会未出现否决议案的情形。 2、本次股东大会未涉及变更以往股东大会已通过的决议。 一、会议的召开情况 昆明云内动力股份有限公司（以下简称"公司"）2025 年第二次临时股东大会于 2025 年 8 月 27 日以公告形式发出通知。 1、会议召开时间： 现场会议时间为：2025 年 9 月 12 日下午 14:30 网络投票时间为：2025 年 9 月 12 日。其中，通过深圳证券交易所交易系统进 行 网 络 投 票 的 具 体 时 间 为 ： 2025 年 9 月 12 日 9:15-9:25 ， 9:30-11:30 和 13:00-15:00；通过深圳证券交易所互联网投票系统投票的具体时间为：2025 年 9 月 12 日 9:15 至 15:00 期间的任意时间。 2、现场会议召开地点：中国（云南）自由贸易试验区昆明片区经开区经景路 66 号昆明云 ...

Group 1 - The company is actively exploring the unmanned vehicle market and has achieved small-scale sales of its products [2] - The technology route of the unmanned vehicle products focuses on the autonomous driving field and is not directly related to humanoid robot business [2] - The company is inquiring about its collaboration with Jiushi Intelligent on the L4-level robot project and its competitive advantage over industry competitor Yushu Technology [2]

Core Viewpoint - Mingzhi Technology (688355) is currently involved in a lawsuit against Kunming Yunnei Power Co., Ltd. regarding unpaid debts, with significant amounts at stake [1] Group 1: Lawsuit Details - Mingzhi Technology has filed a lawsuit for a total claim of 30.9655 million yuan in unpaid debts and an overdue payment loss of 4.4142 million yuan, calculated until October 8, 2024 [1] - Yunnei Power has counter-sued Mingzhi Technology for a total of 40.1629 million yuan, including claims for warranty compensation, quality claims, and return payments [1] Group 2: Financial Impact - Mingzhi Technology has made provisions for bad debts related to accounts receivable from Yunnei Power, which could positively impact the company's financial results if debts are recovered [2] - The outcome of the lawsuit remains uncertain, and the impact on the company's profits for the current and future years will depend on the court's decision [2] - The lawsuit is not expected to affect the normal production and operations of Mingzhi Technology [2]

Financial Performance - ST Yundong reported a net profit decline of 43.18% year-on-year, with a total revenue of 2.82 billion yuan, down 9.85% compared to the previous year [1] - The company's gross margin decreased to 6.36%, a drop of 32.23% year-on-year, while the net margin fell to -5.12%, down 58.64% [1] - In Q2, total revenue was 1.32 billion yuan, a decrease of 4.94% year-on-year, and the net profit for the quarter was -1.18 billion yuan, down 29.81% [1] Key Financial Metrics - The company's total expenses (selling, administrative, and financial) amounted to 208 million yuan, accounting for 7.39% of revenue, a decrease of 8.65% year-on-year [1] - Earnings per share (EPS) was -0.07 yuan, a decline of 42.31% year-on-year, and the operating cash flow per share was -0.18 yuan, down 33.51% [1] - The company's net asset value per share decreased to 0.77 yuan, a drop of 45.42% year-on-year [1] Business Model and Historical Performance - The company's business model relies heavily on research and development, but historical financial data indicates a weak return on invested capital (ROIC) with a median of 2.96% over the past decade [3] - The company has reported losses in three out of the 25 annual reports since its listing, indicating a fragile business model [3] - The most significant loss year was 2022, with an ROIC of -17.89%, highlighting poor investment returns [3] Cash Flow and Debt Situation - The cash flow situation is concerning, with cash and cash equivalents covering only 28.16% of current liabilities, and the average operating cash flow over the past three years being negative [3] - The company has a debt ratio of 50.31% for interest-bearing liabilities, indicating a high level of financial leverage [3] - Financial expenses have been consistently negative over the past three years, raising concerns about the company's financial health [3]

Group 1 - ST Yundong (SZ 000903) held its 12th meeting of the 7th board of directors on August 25, 2025, to review proposals including the revision of certain governance systems [1] - For the first half of 2025, ST Yundong's revenue composition was as follows: 95.47% from the engine industry, 3.15% from other businesses, and 1.38% from the electronics industry [1] Group 2 - The pet industry is experiencing a significant boom, with a market size of 300 billion yuan, leading to a surge in stock prices for related companies [1]

Core Viewpoint - The company has undergone significant changes in its governance structure, including the cancellation of the supervisory board and adjustments to its capital structure due to the repurchase and cancellation of restricted stock options [53][54]. Group 1: Financial and Operational Updates - The company reported a change in its registered capital from 1,934,961,410 yuan to 1,934,844,410 yuan following the repurchase of 117,000 restricted stocks [53][54]. - The company will not distribute cash dividends or issue bonus shares during the reporting period [2]. Group 2: Governance Changes - The supervisory board has been abolished, with its responsibilities transferred to the audit committee of the board of directors [54]. - The company has revised its articles of association to reflect the changes in governance structure [54]. Group 3: Stock Repurchase Details - The company plans to repurchase 117,000 restricted stocks, which accounts for 0.0060% of the total share capital, at a price of 1.54 yuan per share plus applicable interest [36][49]. - The repurchase is due to one executive's retirement and another's stock being released from judicial freeze, leading to the cancellation of their unvested shares [36][46]. Group 4: Compliance and Audit - The company has received a warning and a fine from the regulatory authority for false disclosures in its annual reports for 2021 and 2022 [6]. - The company has committed to improving its internal control systems and financial reporting quality following the audit findings [6][49].

Meeting Announcement - The company will hold its second extraordinary general meeting of shareholders in 2025 on September 12, 2025 [3][4] - The meeting was approved by the company's seventh board of directors during its twelfth meeting [3][9] Meeting Details - The meeting will take place at 14:30 on September 12, 2025, with both on-site and online voting options available [4][10] - The record date for shareholders to attend the meeting is September 5, 2025 [5] Attendance - All ordinary shareholders registered by the record date can attend the meeting, either in person or through a proxy [7][8] - Company directors, supervisors, senior management, and appointed lawyers are also allowed to attend [8] Voting Procedures - Voting will be conducted through the Shenzhen Stock Exchange trading system and internet voting system [4][16] - Shareholders can vote during specified times on September 12, 2025, with detailed procedures provided in the attachments [16][17] Proposals and Resolutions - The meeting will review proposals that have been approved by the board, with special resolutions requiring a two-thirds majority from participating shareholders [9] - Separate counting of votes from small and medium investors will be conducted [9] Registration Information - Registration for the meeting will occur on September 11, 2025, at the company's office [10][11] - Specific documentation is required for both individual and corporate shareholders to register [11] Contact Information - The company has provided contact details for inquiries related to the meeting [13]