证券代码：001311 证券简称：多利科技 公告编号：2025-038 滁州多利汽车科技股份有限公司 第二届董事会第二十六次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 一、董事会会议召开情况 滁州多利汽车科技股份有限公司（简称"公司"）第二届董事会第二十六次 会议通知于 2025 年 11 月 14 日以书面方式发出，会议于 2025 年 11 月 20 日在公 司办公地点召开。本次会议应出席董事 9 人，亲自出席董事 9 人。会议由董事长 邓丽琴女士主持，公司监事、高级管理人员和保荐机构代表列席会议。会议的召 集和召开符合《公司法》《公司章程》等有关规定。 该议案在提交董事会前，已经公司董事会提名委员会审议通过并获全票同意。 二、董事会会议审议情况 1、审议通过了关于公司董事会换届选举第三届董事会非独立董事的议案 鉴于公司第二届董事会任期即将届满，根据《公司法》《公司章程》等有关 规定，经公司第二届董事会提名委员会审议通过，公司董事会提名邓丽琴女士、 曹达龙先生、蒋建强先生、曹武先生、王玉萍女士为公司第三届董事会非独立董 事候选人。上述非独 ...

证券日报网讯多利科技11月19日在互动平台回答投资者提问时表示，公司与主要客户之间建立了长期且 稳定的合作关系，这种合作关系不仅基于双方的信任与默契，还源于公司在产品质量、服务水平和创新 能力等方面的持续努力。与此同时，公司在深化与既有客户合作程度的同时，也持续拓展新客户，不断 优化客户结构，以增强市场竞争力。目前，公司各项业务运营态势良好，后续公司还将继续深化业务布 局，拓展优质客户资源，丰富产品种类，推动降本增效，优化生产工艺与流程，提升市场竞争力，实现 持续稳健发展。 （文章来源：证券日报） ...

Core Insights - The company, Doli Technology, reported that as of November 10, 2025, the total number of shareholders on the consolidated shareholder register, excluding credit accounts, is approximately 20,100 [1] Summary by Categories - **Company Information** - Doli Technology has approximately 20,100 shareholders as of the specified date [1]

Core Viewpoint - The company emphasizes that stock price fluctuations are influenced by macroeconomic factors, market conditions, and industry status, while maintaining stable operational performance and focusing on enhancing intrinsic value and operational results [2] Group 1: Company Operations - The company is seizing opportunities in the automotive industry by continuously optimizing its business layout, improving operational efficiency, and enhancing core competitiveness [2] - The management is closely monitoring stock price fluctuations and believes that improving intrinsic value and operational performance is fundamental to market value management [2] Group 2: Governance and Investor Relations - The company is committed to improving governance levels and optimizing its corporate governance structure to ensure scientific and transparent decision-making, laying a solid foundation for long-term stable development [2] - The company strengthens investor relations management by actively communicating with investors, conveying development information, and enhancing investor confidence to improve market recognition and value creation capabilities [2]

Core Viewpoint - The company, Doli Technology (001311.SZ), has confirmed that it currently has no cooperative relationship with Haima Automobile [1] Group 1 - Doli Technology is actively engaging with investors through an interactive platform [1]

Core Viewpoint - The company has sufficient orders in its automotive parts business and the acquisition of a 52% stake in Fagerhult Automotive Parts (Kunshan) Co., Ltd. will enhance its product variety and market competitiveness, ultimately providing stable returns to shareholders [1] Group 1 - The company currently has a robust order backlog in its automotive parts segment [1] - The acquisition of Fagerhult Automotive Parts (Kunshan) Co., Ltd. is aimed at optimizing the company's industrial layout and enriching its product offerings [1] - The company has made progress in talent acquisition for its robotics-related business, which is advancing according to plan [1]

Core Viewpoint - Doli Technology, established in 2010 and listed on the Shenzhen Stock Exchange in 2023, is a significant player in the automotive stamping parts sector, focusing on the development, production, and sales of automotive stamping components and related molds [1]. Financial Performance - In Q3 2025, Doli Technology achieved a revenue of 2.709 billion yuan, ranking 13th out of 55 in the industry, with the top competitor, Zhongding Co., Ltd., reporting 14.555 billion yuan [2]. - The net profit for the same period was 192 million yuan, placing the company 12th in the industry, while Zhongding Co., Ltd. reported a net profit of 1.305 billion yuan [2]. Financial Ratios - As of Q3 2025, Doli Technology's debt-to-asset ratio was 28.44%, an increase from 19.00% year-on-year, and below the industry average of 40.56% [3]. - The gross profit margin for Q3 2025 was 15.68%, down from 22.12% year-on-year, and also below the industry average of 21.56% [3]. Executive Compensation - The chairman, Deng Liqin, received a salary of 1.344 million yuan in 2024, an increase of 244,000 yuan from the previous year [4]. - The general manager, Jiang Jianqiang, had a salary of 1.405 million yuan in 2024, up by 121,300 yuan from 2023 [4]. Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 20.62% to 23,400, while the average number of circulating A-shares held per shareholder decreased by 17.10% to 3,369.37 shares [5]. - Notable changes among the top ten circulating shareholders included an increase in holdings by Penghua Power Growth Mixed Fund and a decrease by Southern CSI 1000 ETF [5]. Business Outlook - In the first half of 2025, the company reported a revenue of 1.734 billion yuan, a year-on-year increase of 13.15%, but the net profit decreased by 28.53% to 157 million yuan due to customer sales fluctuations and intensified industry competition [6]. - The company is expanding into new business areas, with integrated die-casting expected to enter large-scale production in the second half of 2025 [6]. - Forecasts for EPS from 2025 to 2027 are 1.46, 1.77, and 2.03 yuan, with a projected compound annual growth rate of 13.97% for net profit [6]. Future Projections - Revenue projections for 2025 to 2027 are 4 billion, 4.7 billion, and 5.5 billion yuan, representing year-on-year growth rates of 11.5%, 17.5%, and 16.5% respectively [8]. - Expected net profits for the same period are 380 million, 480 million, and 570 million yuan, with a projected decline of 10% in 2025, followed by increases of 26% and 19% in the subsequent years [8].

Summary of Doli Technology Conference Call Company Overview - **Company**: Doli Technology - **Industry**: Technology and Automotive Supply Chain Key Financial Performance - **Q3 Revenue**: Increased by 13.13% quarter-on-quarter to 770 million CNY [2][4] - **Q3 Net Profit**: Decreased by 44.94% quarter-on-quarter to 34.21 million CNY, primarily due to significant price cuts from a major client and inventory write-downs of nearly 10 million CNY [2][5] - **Gross Margin**: For the first three quarters, gross margin was 15.68%, down 6.43% year-on-year; Q3 gross margin was 12.17%, down 9.38 percentage points year-on-year [4] Major Clients and Revenue Projections - **Tesla Sales**: Q3 sales reached 325 million CNY, with a cumulative total of 890 million CNY for the first nine months. Q4 orders are expected to grow by about 10% [2][6] - **Revenue from Leading Client**: Expected to reach approximately 950 million CNY in 2025 and increase to 1.5-1.6 billion CNY in 2026, driven by advancements in integrated die-casting [2][11] - **Li Auto**: Anticipated to switch models in Q1 2026, increasing the unit value from 1,100-1,200 CNY to around 2,500 CNY, with an order volume of 25,000 units in November and December [2][12] Strategic Initiatives - **Acquisition of Adelan**: Expected to complete equity transfer by the end of 2025, with payment planned for mid-November and consolidation by December [2][14] - **European Joint Venture**: Initial focus on supporting Leading Client in the European market with plans to service five models and expand to other European automakers without immediate capital expenditure [2][15] - **Robotics Sector Entry**: Doli Technology aims to enter the robotics field through acquisitions rather than in-house development, seeking suitable targets to enhance its supply chain capabilities [3][16] Challenges and Risks - **Price Adjustments from Leading Client**: Significant price cuts have led to losses, with ongoing negotiations for potential price adjustments based on recent performance data [5][7] - **Competition**: Doli Technology does not compete directly with Bojun, as they focus on different platforms [10] - **Cost Structure**: Competitors may maintain profitability through different cost structures, prompting Doli Technology to reassess its pricing and cost management strategies [13] Production and Capacity Planning - **Current Capacity**: Minimal new investments planned; ongoing projects in Jinhua and other locations are nearing completion with limited future capital expenditure [19] - **European Market Capacity**: Investment of approximately 500 million CNY in Europe, with production expected to start in late 2026 [20] - **Profitability of Overseas Projects**: Potentially higher profitability in overseas projects due to lower domestic costs for components compared to local European costs [21] Outlook for Q4 - **Production Plans**: Tesla's Q4 production is expected to increase by 5%-8%, with Li Auto's I6 model contributing to revenue growth [22] - **Profitability Concerns**: If gross margins decline significantly due to price adjustments, it may impact future collaborations with clients [22]

Financial Performance - In Q3 2025, the company achieved operating revenue of 2.13 billion yuan, a year-on-year increase of 9.75% compared to Q2 2025, but a decrease in net profit attributable to shareholders by 72.13% year-on-year [2] - For the first nine months of 2025, the company reported operating revenue of 2.709 billion yuan, an 8.92% increase year-on-year, while net profit attributable to shareholders decreased by 1.92% [2] - The net profit excluding non-recurring gains and losses for the first nine months was 1.75 billion yuan, down 47.70% year-on-year [2] Customer Base - The company maintains stable relationships with major clients including Tesla, NIO, and BYD, among others, in both vehicle manufacturing and auto parts sectors [3] - The customer structure is stable, with ongoing efforts to engage potential clients to expand the customer base and product lines [3] Production and Capacity - The company anticipates an increase in orders for Q4 2025 based on customer forecasts for terminal product sales [4] - The production capacity is well-aligned with current and new customer orders, ensuring timely delivery and product quality [9] Robotics Business Development - The subsidiary Kunshan Daya has established a new company focused on robotics and composite materials, with ongoing R&D and production efforts [5] - Despite positive developments, these initiatives are not expected to significantly impact the company's financial status in the current year [5] Acquisition and International Expansion - The acquisition of 52% of EDERLAN SUBSIDIARIES, S.A. has been completed, enhancing the company's product structure and international presence [7] - A joint venture in Spain, LIEDER AUTOMOTIVE, S.L., is being established to serve the European market, with ongoing negotiations for specific arrangements [8]

Group 1 - The core viewpoint of the news is that Doli Technology (001311.SZ) has seen an increase in institutional investor holdings, with a total of 9 institutions holding 8.782 million shares, representing 2.83% of the total share capital, which is an increase of 0.32 percentage points from the previous quarter [1] Group 2 - In the public fund sector, there are 2 funds that increased their holdings compared to the previous period, including Penghua Dynamic Growth Mixed (LOF) and Huaxia CSI 1000 ETF, while 1 fund, Southern CSI 1000 ETF, reduced its holdings [2] - There is 1 new public fund disclosed this period, which is E Fund CSI 300 Quantitative Enhancement, and 101 public funds that were not disclosed in the previous quarter [2] - In terms of social security funds, 2 new funds disclosed their holdings in Doli Technology, namely the National Social Security Fund 502 Portfolio and the National Social Security Fund 118 Portfolio [2] - From the pension perspective, there is 1 new pension fund disclosed this period, which is the Basic Pension Insurance Fund 2108 Portfolio, while 1 pension fund that was not disclosed in the previous quarter is the Basic Pension Insurance Fund 1204 Portfolio [2]