Core Viewpoint - The financial performance of San Yang Ma (001317) shows significant revenue growth but a decline in net profit, indicating potential challenges in profitability despite increased sales [1] Financial Performance - As of the first quarter of 2025, San Yang Ma reported total revenue of 373 million yuan, representing a year-on-year growth of 39.23% [1] - The net profit attributable to shareholders was 1.66 million yuan, a decrease of 126.25% year-on-year [1] - The non-recurring net profit was 1.99 million yuan, down 137.77% year-on-year [1] - The company's liquidity ratios are strong, with a current ratio of 1.823 and a quick ratio of 1.802 [1] - The asset-liability ratio stands at 54.01%, indicating a moderate level of debt [1] Stock Performance - As of August 11, 2025, the stock price of San Yang Ma was 48.85 yuan, with a daily increase of 0.7% [1] - The turnover rate was 9.96%, with a trading volume of 29,300 hands and a transaction amount of 144 million yuan [1] - There was a net outflow of main funds amounting to 13.94 million yuan, accounting for 9.7% of the transaction amount [1] Company Background - San Yang Ma (Chongqing) Logistics Co., Ltd. was established in 2005 and is primarily engaged in road transportation [2] - The company has a registered capital of 80.05 million yuan and a paid-in capital of 52 million yuan [1] - The legal representative of the company is Ren Min [1] - The company has made investments in 15 enterprises and participated in 49 bidding projects [2] - It holds 193 trademark registrations and has 224 administrative licenses [2]

证券代码：001317 证券简称：三羊马 公告编号：2025-062 债券代码：127097 债券简称：三羊转债 三羊马（重庆）物流股份有限公司（以下简称"公司"）2024 年第一次临时股 东大会 2024 年 12 月 30 日审议通过《关于使用部分发行可转换公司债券闲置募集资 金进行现金管理的议案》，公司拟使用额度（指授权期限内任一时点投资本金总额） 不超过人民币 150,000,000.00 元发行可转换公司债券闲置募集资金进行现金管理。 额度内的资金可循环滚动使用，取得的收益可进行再投资。授权董事长在额度内行使 决策权，授权财务负责人组织办理相关事项。授权期限为股东大会审议通过之日起 12 个月。具体内容详见公司在巨潮资讯网（http://www.cninfo.com.cn）上披露的 《2024 年第一次临时股东大会决议公告》《关于使用部分发行可转换公司债券闲置 募集资金进行现金管理的公告》。 | 实 | | 购 | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 施 | 金额（元） | 买/ | 受托方 | 产品名称 | 产 ...

三羊马（重庆）物流股份有限公司 公司章程 第六条 公司注册资本为人民币 80,046,296.00 元。 第一章 总则 第一条 为维护三羊马（重庆）物流股份有限公司（以下简称公司）、股东、职工 和债权人的合法权益，规范公司的组织和行为，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》）和其他有关规定， 制定本章程。 第二条 公司系依照《公司法》《证券法》和其他有关规定成立的股份有限公司。 公司是由重庆中集汽车物流有限责任公司依法整体变更发起设立，在重庆市工商 行政管理局沙坪坝区分局注册登记，取得营业执照，公司的统一社会信用代码为 915001067784797538。 第三条 公司于 2021 年 9 月 24 日经中国证券监督管理委员会核准，首次向社会 公众发行人民币普通股 20,010,000 股，于 2021 年 11 月 30 日在深圳证券交易所上 市。 公司于 2023 年 8 月 29 日经中国证券监督管理委员会同意注册，向不特定对象发 行可转换公司债券 2,100,000 张，每张面值为人民币 100 元，按面值发行，发行总额 为人民币 210, ...

证券代码：001317 证券简称：三羊马 公告编号：2025-060 债券代码：127097 债券简称：三羊转债 三羊马（重庆）物流股份有限公司 关于增加公司经营范围、修改《公司章程》的公告 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。 三羊马（重庆）物流股份有限公司（以下简称"公司"）第四届董事会第二次会 议 2025 年 8 月 4 日审议通过《关于增加公司经营范围、修改<公司章程>及办理登记 备案的议案》，议案事项尚需提交公司 2025 年第三次临时股东会审议，现将有关情况 公告如下： 三、备查文件 （1）第四届董事会第二次会议决议。 特此公告。 三羊马（重庆）物流股份有限公司 董事会 二、《公司章程》修改情况 基于前述经营范围的增加，拟对《公司章程》修改如下： | 修改前 | 修改后 | | --- | --- | | 第十四条 公司的经营范围： | 第十四条 公司的经营范围： | | 许可项目：进出口代理（依法须经批 | 许可项目：进出口代理（依法须经批 | | 准的项目，经相关部门批准后方可开展经 | 准的项目，经相关部门批准后方可开展经 | | ...

证券代码：001317 证券简称：三羊马 公告编号：2025-061 债券代码：127097 债券简称：三羊转债 三羊马（重庆）物流股份有限公司 关于召开 2025 年第三次临时股东会的通知 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。 三羊马（重庆）物流股份有限公司（以下简称"公司"）第四届董事会第二次会 议 2025 年 8 月 4 日审议通过《关于提请召开 2025 年第三次临时股东会的议案》，决 定 2025 年 8 月 25 日召开 2025 年第三次临时股东会。现将有关情况通知如下： 一、召开会议的基本情况 （http://wltp.cninfo.com.cn）向公司股东提供网络形式的投票平台，公司股东可 以在上述网络投票时间内通过深圳证券交易所交易系统或互联网投票系统行使表决 权。 （一）股东会届次：2025 年第三次临时股东会。 （二）会议的召集人：公司董事会。 （三）会议召开的合法、合规性：会议召集和召开符合相关法律、行政法规、部 门规章、规范性文件和《公司章程》的有关规定。 （四）会议召开的时间、日期： （1）现场会议召开日期和时间：20 ...

三羊马（重庆）物流股份有限公司 第四届董事会第二次会议决议公告 证券代码：001317 证券简称：三羊马 公告编号：2025-059 债券代码：127097 债券简称：三羊转债 会议以记名投票表决方式进行表决，形成决议如下： （一）审议通过《关于增加公司经营范围、修改<公司章程>及办理登记备案的议 案》 议案内容：因经营需要，公司拟在经营范围中增加"道路货物运输站经营"。基 于前述经营范围的增加，公司依据《公司法》等法律规则的有关规定对《公司章程》 进行修改并办理登记备案事项。提请公司股东会授权董事会，由董事会转授权公司董 事长及其授权人士依法办理本次增加经营范围、修改《公司章程》所涉及的登记备案 等事项。最终变更内容以市场监督管理部门登记备案为准。 议案表决结果：同意 7 票；反对 0 票；弃权 0 票。 回避表决情况：本议案不涉及回避表决情况。 提交股东会表决情况：本议案需提交股东会审议。 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 三羊马（重庆）物流股份有限公司（以下简称"公司"）第四届董事会第二次会 议于 2025 年 8 ...

Market Performance - On August 1, A-shares' three major indices collectively closed lower, with the Shanghai Composite Index down 0.37% at 3559.95 points, the Shenzhen Component Index down 0.17% at 10991.32 points, and the ChiNext Index down 0.24% at 2322.63 points [1] Fund Manager Changes - In the past 30 days (July 2 - August 1), a total of 424 fund managers have left their positions, with 18 announcements made on August 1 alone. The reasons for these changes include 4 managers leaving due to job changes and 1 due to personal reasons [3][4] - Notable fund managers who left include Wu Yi from multiple funds due to job changes, and Shi Xingtao who left for personal reasons [4][6] Fund Manager Performance - Current fund manager of Yongying Fund, Chu Kefa, manages assets totaling 7.271 billion yuan, with the highest return of 104.27% from the fund Yongying Medical Innovation Selected Mixed Fund A during his tenure [4] - New fund manager Wan Qiong from Bosera Fund manages assets totaling 52.773 billion yuan, with the highest return of 283.18% from the Bosera S&P 500 ETF over nearly 10 years [5] Fund Research Activity - In the past month, the most active fund company in conducting company research was Fuguo Fund, which researched 48 listed companies, followed by Bosera Fund and Huaxia Fund with 45 and 44 companies respectively [6][7] - The most researched industry was communication equipment, with 193 research instances, followed by the chemical pharmaceutical industry with 158 instances [6][7] Recent Stock Research - The most researched stock in the past month was Defu Technology, with 79 fund management companies participating in the research, followed by Zhongji Xuchuang and Xinyi Sheng with 75 and 66 companies respectively [7][8] - In the last week (July 25 - August 1), Defu Technology remained the most researched stock, with 79 fund institutions involved, while other notable stocks included Haida Group and Shenghong Technology [8][9]

证券代码：001317 证券简称：三羊马 公告编号：2025-058 债券代码：127097 债券简称：三羊转债 三羊马（重庆）物流股份有限公司 关于使用部分发行可转换公司债券闲置募集资金 进行现金管理的进展公告 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、基本情况 三羊马（重庆）物流股份有限公司（以下简称"公司"）2024 年第一次临时股 东大会 2024 年 12 月 30 日审议通过《关于使用部分发行可转换公司债券闲置募集资 金进行现金管理的议案》，公司拟使用额度（指授权期限内任一时点投资本金总额） 不超过人民币 150,000,000.00 元发行可转换公司债券闲置募集资金进行现金管理。 额度内的资金可循环滚动使用，取得的收益可进行再投资。授权董事长在额度内行使 决策权，授权财务负责人组织办理相关事项。授权期限为股东大会审议通过之日起 12 个月。具体内容详见公司在巨潮资讯网（http://www.cninfo.com.cn）上披露的 《2024 年第一次临时股东大会决议公告》《关于使用部分发行可转换公司债券闲置 募集资金进行现金管理的公告》。 ...

Group 1 - The core viewpoint of the article highlights the strategic developments of the company, particularly through its subsidiary, Zhiren Technology, which has successfully attracted a strategic investor, Ice Zero Technology, to enhance its business momentum [2] - Zhiren Technology's primary focus is on the sales of automotive sensors, with future plans to expand into the research and production of sensors for robotics and low-altitude applications. The sensor business is concentrated in the automotive power and chassis sectors, which are closely related to safety and have high technical barriers [2] - The domestic market for chassis sensors has a low localization rate of less than 20%, while the air suspension sensor market is largely dominated by foreign companies, indicating significant growth potential for domestic players [2] Group 2 - On July 24, the company announced that Zhiren Technology signed a product procurement contract with a domestic automotive parts company, which involves exclusive supply of sensor products for specified vehicle models. The contract is valued at 120 million yuan (excluding tax) and spans from July 24, 2025, to July 24, 2030 [3] - The products covered by this contract are diverse, primarily focusing on special vehicles and automotive chassis suspension, with a five-year cycle for new models [3]

Summary of the Conference Call for Sanyangma Company Overview - Sanyangma specializes in comprehensive logistics services for both automotive and non-automotive products, with automotive-related business contributing approximately 80% of revenue [2][3] - The company has 87 operational points nationwide, covering key economic belts such as the "Belt and Road" initiative, and is actively expanding into emerging businesses like cross-border e-commerce logistics and information services [2][3] Core Business Insights - The company faces intense competition in the complete vehicle logistics market from logistics firms with automotive manufacturing backgrounds (e.g., Anji Logistics) and independent third-party logistics companies (e.g., Changjiu Logistics) [2][5] - Sanyangma's performance forecast indicates a loss in net profit and net profit excluding non-recurring items, primarily due to increased depreciation expenses from fixed asset conversion and interest capitalization on project loans [2][6] - The gross profit margin has been on a downward trend since 2020 but is expected to have bottomed out [2][6] Emerging Business Developments - Sanyangma is actively expanding into several new business areas: 1. **Cross-border e-commerce logistics**: Focused on drop shipping and last-mile delivery in the U.S. [7] 2. **Maritime projects**: Providing booking services for general merchandise clients [7] 3. **Information services**: Utilizing subsidiaries like Suoyuan Technology for media account management services [10] 4. **Sensor business**: Collaborating with Bingning to focus on high-tech sensors for powertrain and chassis domains [2][8] Sensor Market Potential - The demand for sensors in China's new energy vehicle market is expected to surge, with the market size projected to reach 50 billion yuan by 2026, and the global market exceeding 100 billion yuan [8] - Sanyangma is concentrating on high-barrier technology in powertrain and chassis sensors, with per-vehicle values estimated at 300 yuan and 1,000 yuan respectively [8][10] Competitive Landscape - In the complete vehicle logistics segment, Sanyangma's competitors are categorized into three groups: 1. Logistics companies with automotive manufacturing backgrounds [5] 2. Independent third-party logistics firms of considerable scale [5] 3. Smaller enterprises providing outsourcing services to the first two categories [5] Financial Performance - The company reported a forecasted loss of approximately 12 to 15 million yuan for the first half of 2025, attributed to fixed asset depreciation and R&D investments [21] - Despite the losses, the core business is expected to remain stable, particularly in the book distribution sector, with a projected annual growth rate of 5% to 10% in the passenger vehicle market [21] Strategic Collaborations - Sanyangma has formed a joint venture with Bingning, leveraging Bingning's customer base and technical expertise in the southwest region to enhance synergies [14] - The company is also exploring partnerships in the robotics sector, focusing on customized development to meet stringent automotive industry requirements [22] Future Outlook - The company anticipates growth in cross-border e-commerce and maritime logistics, with specific projections to be detailed in upcoming financial reports [27] - The collaboration with Tianyu Aviation aims to develop agricultural operations related to drone technology [19] Additional Insights - The company has established a robust process system for sensor mass production and cost control, including partnerships with upstream chip suppliers and innovative product development [23] - Sanyangma's sensor orders include special vehicle sensors and suspension sensors, with a gross margin of approximately 30% [15] This summary encapsulates the key points from the conference call, highlighting Sanyangma's business operations, competitive landscape, financial performance, and future growth strategies.