Core Viewpoint - Zongshen Power (001696), a leading local power machinery enterprise in Chongqing, is experiencing significant growth driven by strategic adjustments in its aviation power segment and steady growth in its core business, forming a dual-driven development pattern with traditional and emerging sectors [1] Financial Performance - For the first three quarters of 2025, Zongshen Power achieved total operating revenue of 9.639 billion, a year-on-year increase of 30.17% [1] - The company reported a net profit attributable to shareholders of 758 million, reflecting a year-on-year growth of 93.70% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 710 million, up 92.63% year-on-year [1] Traditional Business Growth - The general machinery business benefited from rural revitalization policies and a recovery in overseas demand, leading to a continuous expansion of orders [1] - The motorcycle engine business has seen a steady increase in market share both domestically and internationally due to technological upgrades and channel expansion, contributing to the performance growth "foundation" [1] Aviation Power Business Development - The aviation power segment is gaining development opportunities supported by regional policy advantages [1] - Zongshen Aviation, as a local leader, has received policy support in technology research and development and order acquisition, with the establishment of Chenyu Technology further promoting the scale development of the aviation power business [1] Future Outlook - Zongshen Power will continue to deepen the dual-driven pattern of "steady growth in traditional business + strategic breakthroughs in aviation power" [2] - The stable cash flow from traditional business will support research and layout in the aviation power segment [2] - With the empowerment of the Chenyu Technology platform and the dual support of the Chongqing low-altitude economic industry ecosystem, the long-term growth potential of the aviation power business is highly regarded by the market [2]

Market Overview - A-share major indices showed a significant rebound this week, with the weekly performance of the indices as follows: CSI 300 at -0.57%, ChiNext 300 at 1.39%, STAR 50 at 2.58%, CSI 500 at 2.18%, CSI 1000 at 1.27%, and the humanoid robot index at 1.48%, with the STAR 50 showing the most notable recovery [1] Recent Events and Highlights - China applied to the International Telecommunication Union (ITU) for frequency resources for over 200,000 satellites, with more than 190,000 satellites coming from the newly established Radio Innovation Institute. Experts are optimistic about the institute's role in integrating industry resources and leveraging China's large market to accelerate its industry to catch up with SpaceX [2] Current Perspectives - The establishment of the humanoid robot and embodied intelligence standardization technical committee by the Ministry of Industry and Information Technology is viewed positively for the humanoid robot industry chain, with related companies including Hengshuai Co., Junpu Intelligent, Anpeilong, Keda Li, Lens Technology, Changying Precision, Sanhua Intelligent Control, Fengmao Co., Top Group, and Wuzhou Xinchun [3] - Guangdong has launched its first provincial-level drone governance system, creating a drone resource pool and a provincial management platform to build a "one network for unified flight" service ecosystem, with related companies including Xindong Link, Wanfeng Aowei, Wolong Electric Drive, and Zongshen Power [3] - The China Academy of Information and Communications Technology's Tair System Laboratory recently issued a liquid cooling capability testing report and certificate to Shenzhen Invech Technology Co., indicating that AI data center construction is expected to drive demand for liquid cooling equipment, with related companies including Invech, Nanfeng Co., Chuanrun Co., and Bojie Co. [3] - China's application to the ITU for over 200,000 satellites coincides with the U.S. Federal Communications Commission granting SpaceX significant authorization to build, deploy, and operate an additional 7,500 second-generation Starlink satellites, with related companies including Superjet Co., Xindong Link, Guoji Precision, and Electric Science Digital [3]

1月16日，永川区与宗申产业集团、智元创新（上海）科技股份有限公司（以下简称智元创新）在重庆 达成战略合作，隆鑫智元具身智能机器人项目正式落户永川。据悉，这是永川区首个具身智能机器人项 目，将为重庆具身智能产业发展增添强劲动力。（重庆日报） ...

Market Overview - The general equipment sector experienced a decline of 0.47% on January 15, with Daye Co., Ltd. leading the losses [1] - The Shanghai Composite Index closed at 4112.6, down 0.33%, while the Shenzhen Component Index closed at 14306.73, up 0.41% [1] Top Gainers in General Equipment Sector - Jingce Electronics (300567) saw a closing price of 119.00, with an increase of 8.10% and a trading volume of 185,800 shares [1] - Xinlei Co., Ltd. (301317) closed at 37.25, up 7.60%, with a trading volume of 91,100 shares [1] - Yingliu Co., Ltd. (603308) closed at 48.44, increasing by 5.83% with a trading volume of 266,700 shares [1] - Other notable gainers include Youlide (688628) at 36.92 (+5.79%), Tongfei Co., Ltd. (300990) at 91.37 (+5.34%), and Baonanchangke (688433) at 80.68 (+5.05%) [1] Top Losers in General Equipment Sector - Daye Co., Ltd. (603278) reported a significant drop of 10.03%, closing at 12.92 with a trading volume of 437,400 shares [2] - Aerospace Power (600343) also fell by 10.00%, closing at 44.09 with a trading volume of 905,600 shares [2] - Other major decliners include Luxin Investment (600783) at 31.95 (-10.00%), JuLi Sockets (002342) at 12.60 (-10.00%), and Snowman Group (002639) at 24.23 (-9.99%) [2] Capital Flow Analysis - The general equipment sector saw a net outflow of 4.127 billion yuan from institutional investors, while retail investors contributed a net inflow of 3.994 billion yuan [2] - The sector experienced a net inflow of 134 million yuan from speculative funds [2] Individual Stock Capital Flow - Jingce Electronics (300567) had a net inflow of 244 million yuan from institutional investors, accounting for 11.41% of its trading volume [3] - New Lai Materials (300260) reported a net inflow of 162 million yuan, with a net outflow of 52.41 million yuan from speculative funds [3] - Other stocks with notable capital flows include Zongshen Power (001696) with a net inflow of 96.49 million yuan and a net outflow of 99.06 million yuan from retail investors [3]

Core Viewpoint - Zongshen Power has developed a comprehensive aviation engine platform over the past decade, showcasing its commitment to innovation in the aviation sector [1] Group 1: Company Development - The company entered the aviation engine field in 2014 and has since established five major aviation power platforms [1] - Zongshen Power has launched over 20 derivative products and propeller products, covering a power range of 20 to 200 horsepower [1] - The company has completed the layout of several terminal products, including fuel piston power and new energy hybrid power [1]

Group 1: Consumer Policies - A new round of "national subsidies" has been launched, covering a range of products including smart glasses, home appliances, and vehicle updates, with subsidies of up to 15% for digital and home appliances [2][3] - The Hainan duty-free shopping policy has been expanded, increasing the number of duty-free categories from 45 to 47, and allowing residents with departure records to purchase certain items without limit within a year [2][3] - From January 1 to 6, Hainan's duty-free shopping reached 1.1 billion yuan, a year-on-year increase of 90.6%, with 133,000 shoppers, up 40% year-on-year [2] Group 2: Transportation and Services - The Northeast region has introduced a new railway tourism ticket that allows travelers to visit multiple destinations within 15 days, enhancing travel convenience [3] - New regulations for green product certification and promotion of green consumption have been implemented, aiming to facilitate a transition to low-carbon practices across various sectors [3] Group 3: Housing Market - The VAT rate for individuals selling homes purchased less than two years ago has been reduced from 5% to 3%, significantly lowering transaction costs and stimulating the real estate market [7] - The adjustment in VAT policy is seen as a crucial measure to stabilize the housing market, promoting liquidity and a healthy cycle between new and second-hand housing [7] Group 4: Credit and Financial Policies - A one-time credit repair policy has been implemented, allowing individuals to remove overdue records from their credit reports if debts are repaid by March 31, 2026 [8] - The policy aims to balance strict credit management with a more compassionate approach, reflecting a shift in social credit management practices [8] Group 5: Taxation and Business Environment - The new VAT law has been enacted, providing clearer legal guidelines for businesses and enhancing compliance management [10] - Various measures have been introduced to stimulate business activity, including government financing support and streamlined land approval processes [10]

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：001696 证券简称：宗申动力 公告编号：2025-70 重庆宗申动力机械股份有限公司 2025年第二次临时股东会决议公告 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。 特别提示： 1．本次股东会没有增加、否决或变更提案； 1．召开时间：2025年12月26日 ● 现场会议召开时间：2025年12月26日14:30； 网络投票时间：通过深圳证券交易所交易系统进行网络投票的时间为2025年12月26日上午9:15- 9:25,9:30-11:30，下午13:00-15:00； 8．出席本次会议的还有公司董事、高级管理人员及公司聘请的律师等。 二、议案审议表决情况 ● 通过深圳证券交易所互联网投票系统投票的开始时间（2025年12月26日上午9:15）至投票结束时间 （2025年12月26日下午15:00）的任意时间。 2．召开地点：宗申工业园办公大楼一楼会议室 3．召集人：公司董事会 4．召开方式：本次股东会采取现场投票与网络投票相结合的方式。 5．主持人：董事长左宗申先生 6．会议的召开符合《公司 ...

一、会议的召开和出席情况 1．召开时间：2025 年 12 月 26 日 证券代码：001696 证券简称：宗申动力 公告编号：2025-70 重庆宗申动力机械股份有限公司 2025 年第二次临时股东会决议公告 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。 特别提示： 1．本次股东会没有增加、否决或变更提案； 2．本次股东会不涉及变更以往股东会已通过的决议。 现场会议召开时间：2025 年 12 月 26 日 14:30； 网络投票时间：通过深圳证券交易所交易系统进行网络投票的时间为 2025 年 12 月 26 日上午 9:15-9:25,9:30-11:30，下午 13:00-15:00； 通过深圳证券交易所互联网投票系统投票的开始时间（2025 年 12 月 26 日上午 9:15）至投票结束时间（2025 年 12 月 26 日下午 15:00）的任意时间。 2．召开地点：宗申工业园办公大楼一楼会议室 3．召集人：公司董事会 4．召开方式：本次股东会采取现场投票与网络投票相结合的方式。 5．主持人：董事长左宗申先生 6．会议的召开符合《公司法》《深圳 ...

上海锦天城（重庆）律师事务所 关于重庆宗申动力机械股份有限公司 2025年第二次临时股东会的法律意见书 1、2025年12月10日，公司第十二届董事会第三次会议以现场和通讯表决的方式 召开，审议通过了《关于召开2025年第二次临时股东会的议案》，同意召开本次股 东会，对相关事项进行审议。 致：重庆宗申动力机械股份有限公司 上海锦天城（重庆）律师事务所（以下简称"本所"）接受重庆宗申动力机械 股份有限公司（以下简称"公司"）委托，指派邓丹郸律师、张莹月律师出席公司 于2025年12月26日下午14:30在重庆市巴南区渝南大道126号，宗申工业园办公大楼 一楼会议室召开的2025年第二次临时股东会（以下简称"本次股东会"），就公司 本次股东会的召集和召开程序、召集人资格、出席会议人员资格、本次股东会的表 决程序、表决结果等相关问题出具本法律意见书。 本法律意见书根据已发生或存在的事实，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》"）、 《上市公司股东会规则》（以下简称"《股东会规则》"）等法律、法规、规范性 文件以及《深圳证券交易所上市公司股东会网络投票 ...

Core Viewpoint - The report from Huaxin Securities highlights that Zongshen Power's dual growth curve strategy is clear, showcasing resilience in performance growth [1] Group 1: Business Strategy - The company employs a "analytical + constructive" dual strategy to upgrade its traditional fuel power business towards high-end and high value-added segments, extending the first growth curve [1] - The emerging businesses, including aviation, new energy, and intelligent technology, are being rapidly expanded to create a second growth curve [1] Group 2: Financial Performance - In the first three quarters, the company benefited from stable main operations and improved earnings from joint ventures, leading to significant profit growth and continuous optimization of operational quality [1] Group 3: Aviation Business Development - Zongshen Aviation Power serves as the technological core, while Chenyu Technology acts as the market platform, deepening the layout of the aviation power business [1] - The company is seizing opportunities in the low-altitude economy development strategy, with product certification and market expansion progressing simultaneously, making it the core engine of the second growth curve [1] Group 4: Emerging Business Potential - The company’s emerging businesses are breaking new ground, with new energy opening up growth space, maintaining a "buy" investment rating [1]