为此，2026年2月13日，宗申动力发布公告称，拟与隆鑫通用进行相关资产置换，本次交易预计构成重 大资产重组。 据了解，宗申动力拟置入的资产为隆鑫通用持有的通用机械业务相关资产与负债（以重庆新隆鑫机电有 限公司股权为核心），而隆鑫通用拟置入的资产为宗申动力持有的摩托车发动机业务相关资产与负债 （以重庆宗申发动机制造有限公司股权为核心），两者拟置入资产与拟置出资产的交易作价差额由一方 向另一方以现金方式补足，本次交易不涉及发行股份。 交易完成后，隆鑫通用将集中资源发展摩托车整车及摩托车发动机业务，聚焦核心动力技术研发与全球 渠道布局，构建更具深度和广度的摩托车动力总成能力，实现发动机与整车的高效协同，持续优化产品 结构、提升产品附加值，致力于成为全球领先的两轮交通工具企业。宗申动力将集中资源发展通用机械 等具有技术优势和市场前景的核心业务，进一步强化主营业务布局。 入主隆鑫通用（603766）（603766.SH）后，宗申动力（001696）（001696.SZ）创始人左宗申开始着手 解决两企业同业竞争问题。 日前，宗申动力发布公告称，筹划重大资产置换事项，公司拟与隆鑫通用进行相关资产置换。此次交易 旨在解决两 ...

1月，我国摩托车产业迎来良好开局，行业产销量同比、环比均实现明显增长；外贸出口延续上年良好 增长态势，单月出口量创下近年新高。 产销情况 1月，从车型明细来看，三大车型中，跨骑车产销104.75万辆和105.26万辆，产销量环比增长3.01%和 0.06%，同比增长17.91%和18.85%；踏板车产销52.84万辆和50.39万辆，产量环比下降0.93%，销量环比 增长9.4%，同比增长37.23%和29.03%；弯梁车产销20.63万辆和22.93万辆，产销量环比增长0.28%和 19.71%，同比增长39.71%和36.38%。从各车型销量占二轮车总销量的比重看，跨骑、踏板和弯梁三类 车型占比分别为58.39%、29.46%和11.5%。 1月，正三轮摩托车产销21.08万辆和20.78万辆，产销量环比下降15.76%和19.37%，同比增长24.18%和 17.05%。其中，普通货运三轮车产销16万辆和15.78万辆，产销量环比下降12.84%和15.85%，产销量同 比增长15.5%和9.66%；普通客运三轮车产销4.81万辆和4.7万辆，产销量环比下降23.01%和26.93%，同 比增长62.3 ...

Core Viewpoint - The low-altitude economy is transitioning from a conceptual phase to large-scale commercial use, as evidenced by recent events and technological advancements in the sector [2][3][5]. Group 1: Low-altitude Economy Developments - The first eVTOL water airport, developed by Fengfei Aviation, was showcased during the Spring Festival, marking a significant milestone in low-altitude infrastructure [3][5]. - A record-breaking drone performance featured 22,580 drones, setting a Guinness World Record for the largest simultaneous drone flight, highlighting the technological capabilities within the low-altitude economy [5][13]. - The low-altitude flight network in the Yangtze River Delta is expanding, with routes connecting Shanghai to various locations, significantly reducing travel time for residents [6][7]. Group 2: Market Trends and Capital Involvement - In early 2026, WoFei ChangKong secured nearly 1 billion yuan in funding, marking the largest single financing round in the low-altitude economy sector this year [10][11]. - Financial institutions are shifting from being mere capital providers to strategic partners, actively engaging in the technological and industrial risks associated with low-altitude ventures [12]. - The low-altitude economy is projected to reach a market size of 1.5 trillion yuan by 2025, with significant growth in drone operations and eVTOL orders, indicating a robust demand for low-altitude services [13][15]. Group 3: Competitive Landscape - Companies are actively positioning themselves in the low-altitude economy, with established firms like WanFeng AoWei and ZhongShen Power making strategic acquisitions to enhance their product offerings [14]. - New entrants and established companies are collaborating to expand the industry, with firms like SF Express and ZTE entering the market, leveraging their existing capabilities to support low-altitude operations [14]. - The industry is expected to see five major trends in 2026, including refined airspace management and rapid development of low-altitude logistics, which will attract further investment [15].

Core Viewpoint - Longxin General Power Co., Ltd. plans to conduct an asset swap with Chongqing Zongshen Power Machinery Co., Ltd. to address the issue of competition in the motorcycle and general machinery sectors, aiming for business focus and specialization [2][3] Group 1: Asset Swap Details - Longxin General intends to exchange its general machinery-related assets and liabilities, primarily the equity of Chongqing Xinlongxin Electromechanical Co., Ltd., for Zongshen Power's motorcycle engine-related assets and liabilities, mainly the equity of Chongqing Zongshen Engine Manufacturing Co., Ltd. [2] - The difference in the valuation of the swapped assets will be compensated in cash by one party to the other, and the transaction will not involve issuing shares or changing the controlling shareholder [2] Group 2: Background and Strategic Focus - The asset swap is motivated by a change in the actual controller of Longxin General, which will occur in December 2024, leading to indirect control by Zongshen Industrial Group Co., Ltd. This has resulted in competition in related business areas with subsidiaries controlled by Zongshen Group, including Zongshen Power [2] - Post-transaction, Longxin General will focus its resources on developing motorcycle complete vehicles and motorcycle engine businesses, emphasizing core power technology research and global channel layout to enhance its motorcycle powertrain capabilities [3]

Financial Data - As of the end of January, the social financing scale increased by 8.2% year-on-year, and the broad money supply (M2) grew by 9.0%, significantly higher than the nominal GDP growth rate, creating a favorable monetary environment for economic recovery [3]. Stock Market Adjustments - The Hang Seng Index will increase its constituent stocks from 88 to 90, with the inclusion of CATL, Luoyang Molybdenum, and Laopu Gold, while Zhongsheng Holdings will be removed. These changes will take effect after the market closes on March 6 and will be implemented on March 9 [3]. Regulatory Actions - The China Securities Regulatory Commission (CSRC) announced administrative penalties and market bans against Tianfeng Securities for alleged violations related to financing and information disclosure for Wuhan Contemporary Technology Industry Group [3]. Company News - Southwest Securities plans to issue A-shares to specific investors, raising up to 6 billion yuan to supplement its capital for various business operations [7]. - SAIC Group's subsidiary, SAIC Jin控, will establish a private equity fund with an initial subscription of 2.5 billion yuan, focusing on solid-state batteries and other advanced technologies [8]. - KOTAI Power has decided to terminate its H-share issuance preparations, stating that this decision will not significantly impact its operations [8]. - YG Chip received a notice from the CSRC regarding an investigation for suspected information disclosure violations, while its business activities continue normally [8]. - Meituan expects a loss of 23.3 billion to 24.3 billion yuan for the fiscal year 2025, primarily due to a shift from a profit of approximately 52.4 billion yuan in 2024 to an operational loss in 2025, alongside increased investments in overseas operations [9]. - Zongshen Power plans to swap motorcycle engine-related assets with Longxin General's assets to resolve competition issues and promote clearer business development [9]. Industry Insights - Huatai Securities believes that the advancement of a unified national electricity market will benefit the new power system construction from multiple dimensions, focusing on the accelerated development of energy storage, continuous construction of the main grid, and structural growth in renewable energy demand [11].

Core Viewpoint - Chongqing Zongshen Power Machinery Co., Ltd. is planning a significant asset swap with Longxin General Power Co., Ltd. to address competition issues and enhance business focus and specialization [2][4][12]. Group 1: Transaction Overview - The company intends to exchange its motorcycle engine-related assets and liabilities, primarily the equity of Chongqing Zongshen Engine Manufacturing Co., Ltd., with Longxin General's general machinery-related assets and liabilities, primarily the equity of Chongqing Xinlongxin Electromechanical Co., Ltd. [2][4] - The transaction will involve cash compensation for the difference in asset values, and the specific asset scope will be determined after due diligence, auditing, and evaluation [2][4][5]. - This transaction is classified as a related party transaction and is expected to constitute a major asset restructuring as per regulations [2][5]. Group 2: Impact on the Company - The transaction aims to resolve the existing competition between Zongshen Power and Longxin General, promoting clearer and more specialized business development [12]. - Post-transaction, Zongshen Power will focus resources on developing core businesses in general machinery with technological advantages and market potential, optimizing asset and resource allocation [12]. - The transaction will not involve issuing shares and will not change the company's controlling shareholder or actual controller, thus maintaining the current equity structure [13].

Core Viewpoint - The transaction between Zongshen Power (宗申动力) and Longxin General (隆鑫通用) aims to resolve the issue of industry competition between the two companies by swapping their respective assets related to motorcycle engines and general machinery, thereby promoting clearer and more specialized business development for both parties [2][4]. Group 1: Transaction Details - Zongshen Power plans to exchange its motorcycle engine business assets and liabilities, primarily the equity of Chongqing Zongshen Engine Manufacturing Co., Ltd., with Longxin General's general machinery business assets and liabilities, primarily the equity of Chongqing Xinlongxin Electromechanical Co., Ltd. [2] - The transaction will involve a cash adjustment to account for the difference in asset values exchanged [2]. - This transaction is classified as a related party transaction due to both companies being indirectly controlled by the same individual, Zuo Zongshen [4]. Group 2: Strategic Objectives - The transaction is intended to eliminate the existing competition between Zongshen Power and Longxin General, allowing Zongshen Power to focus on developing its core business in general machinery, which has technological advantages and market potential [4]. - Longxin General aims to concentrate its resources on motorcycle complete vehicles and engine businesses, enhancing its core power technology research and global channel development [4]. Group 3: Financial Projections - For 2025, Zongshen Power expects to achieve a net profit attributable to shareholders of between 646 million and 738 million yuan, representing a year-on-year growth of 40% to 60% [5]. - Longxin General anticipates a net profit attributable to shareholders of between 1.65 billion and 1.8 billion yuan for 2025, with a year-on-year growth of 47.15% to 60.53% [5]. Group 4: Current Market Reaction - As of February 13, the stock price of Zongshen Power decreased by 1.03%, while Longxin General's stock price fell by 1.52% [6].

不停牌。 宗申动力（001696）2月13日晚间公告，公司拟将其持有的摩托车发动机业务相关资产与负债（以重庆 宗申发动机制造有限公司股权为核心）与隆鑫通用动力股份有限公司（简称"隆鑫通用"，证券代码： 603766）持有的通用机械业务相关资产与负债（以重庆新隆鑫机电有限公司股权为核心）进行置换，置 换资产交易作价的差额将由一方向另一方以现金方式补足（简称"本次交易"）。本次交易公司股票不停 牌。 END 点击关键字可查看 潜望系列深度报道丨 股事会专栏 丨 投资小红书 丨 e公司调查 丨 时报会客厅 丨 十大明星私募访谈 丨 宁德时代被纳入！港股，重大调整！ 丨 688209在互动平台"自问自答"，被证监会立案调查 丨 002969突发！深交所暂停部分投资者交易 丨 天风证券，被证监会立案！ 丨 600893尾盘涨停！军 工股拉升 丨 实探丨深圳出手规范黄金市场，水贝商家：只接"现货" 丨 存储芯片，逆市大涨！ 丨 深 圳出手！不得违规开展黄金预定价交易！ 丨 美股、黄金、白银，集体大跌！ 根据初步研究和测算，本次交易预计将构成《上市公司重大资产重组管理办法》规定的重大资产重组。 本次交易所涉资产的具体范围将 ...

Group 1 - The core point of the article is that Zongshen Power (001696) plans to swap its motorcycle engine business assets and liabilities with Longxin General (603766) to address the issue of competition between the two companies [2][4] - The transaction is expected to constitute a significant asset restructuring, as both companies are controlled by the same entity, Zuo Zongshen, and the swap aims to clarify and professionalize their business operations [4][5] - After the transaction, Zongshen Power will focus on developing core businesses with technological advantages and market prospects, while Longxin General will concentrate on motorcycle complete vehicles and engine business, enhancing their product structure and value [4][5] Group 2 - The transaction is still in the planning stage and requires further verification and negotiation, with necessary decision-making and approval processes to be followed according to relevant laws and regulations [5] - The specific scope of the assets involved in the transaction will be clarified after due diligence, auditing, and evaluation, with the transaction price based on a report from a qualified evaluation agency [5] - Both companies are projected to see profit growth in 2025, with Zongshen Power expecting a net profit of 646 million to 738 million yuan, a year-on-year increase of 40% to 60%, and Longxin General anticipating a net profit of 1.65 billion to 1.8 billion yuan, a year-on-year increase of 47.15% to 60.53% [5]

Core Viewpoint - Zongshen Power plans to swap its motorcycle engine business assets and liabilities with Longxin General's general machinery business assets and liabilities, addressing industry competition and enhancing business clarity and specialization [1] Group 1: Transaction Details - The transaction involves the exchange of equity in Chongqing Zongshen Engine Manufacturing Co., Ltd. and Chongqing Xinlongxin Electromechanical Co., Ltd. [1] - The difference in the transaction value will be compensated in cash by one party to the other [1] - This transaction is classified as a related party transaction due to Longxin General being controlled by Zuo Zongshen, the actual controller of Zongshen Power [1] Group 2: Strategic Implications - The transaction is expected to constitute a significant asset restructuring without changing the controlling shareholder or actual controller of the company [1] - Post-transaction, Zongshen Power will focus resources on developing general machinery, which has technological advantages and market prospects [1] - The transaction aligns with the company's strategic development direction, aiming to improve the quality of the listed company and protect the interests of minority shareholders [1]