证券代码：001696 证券简称：宗申动力 公告编号：2024-63 重庆宗申动力机械股份有限公司 第十一届董事会第十八次会议决议公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记 载、误导性陈述或者重大遗漏。 一、董事会会议召开情况 1．会议通知情况 重庆宗申动力机械股份有限公司（简称"公司"）董事会于 2024 年 12 月 5 日向全体董事、监事及高级管理人员以专人送达、邮件或传真方式发出了会议通 知及相关材料。 2．会议召开的时间、地点、方式 公司第十一届董事会第十八次会议于 2024 年 12 月 10 日在宗申工业园办公 大楼一楼会议室以现场与通讯表决相结合的方式召开。 2．以六票同意，零票反对，零票弃权，审议通过《关于公司 2025 年度日 常关联交易预计情况的议案》，三名关联董事左宗申先生、胡显源先生和李耀 1 / 2 先生回避表决； 董事会在审议本议案前，已经独立董事专门会议审议，全体独立董事一致同 意提交董事会审议。详见同日刊登在指定媒体和网站的《2025 年度日常关联交 易预计公告》。 3．以九票同意，零票反对，零票弃权，审议通过《关于召开 2024 年第二 次临时股 ...

Group 1: Company Overview and Shareholding - Chongqing Zongshen Power Machinery Co., Ltd. holds a 52.4746% stake in Zongshen Aviation, which is involved in the development of aviation engines [3] - The company has a 15.61% shareholding in Meixin Yishen, focusing on precision mechanical components [2] Group 2: Financial Performance - In Q3 2024, the company's operating cash flow net amount increased by 16.37% compared to the same period last year, primarily due to increased sales scale [3] - The company emphasizes cash flow management to maintain sufficient operating funds for stable financial policies [3] Group 3: Business Development and Strategy - Zongshen Aviation is actively expanding its product line and market share in the low-altitude economy sector, providing power system solutions for general aviation and unmanned aerial vehicles [4][7] - The company is transitioning towards becoming a digital, technological, and intelligent integrated service provider for power systems [4] Group 4: Product and Technology Focus - The company has developed a product system for new energy, including electric drive systems, energy storage, and hydrogen fuel cell systems [5][6] - Zongshen Aviation has launched over 20 derivative products and propeller products, covering the UAV and light general aviation markets [5][6] Group 5: Market Expansion and International Presence - The company has manufacturing bases in Vietnam and Mexico, exporting products to various regions including Europe, the Middle East, and Southeast Asia [6] - Zongshen Power is focused on expanding its overseas business layout, particularly in the low-altitude economy sector [6] Group 6: Governance and Risk Management - The company is committed to enhancing corporate governance and protecting shareholder rights, especially in light of potential competition from its major shareholder [4][8] - The company is monitoring high levels of share pledges by major shareholders to mitigate operational risks [8]

Summary of Conference Call Notes Industry Overview - The discussion primarily revolves around the **low-altitude economy** and its strategic importance in the current economic landscape, particularly in China. The low-altitude economy is being recognized as a strategic industry following its elevation in the Central Economic Conference in December last year [3][4]. Key Points and Arguments 1. **Low-Altitude Economy Development**: The first national transfer of low-altitude economic operating rights is highlighted, with a contract period of 30 years and a funding amount of **99.2 billion** [1]. 2. **Investment Interest**: There is a noted disparity in investment interest between Chinese and American investors in the low-altitude sector, with the latter showing less enthusiasm [2]. 3. **Market Performance**: The stock performance of companies in the low-altitude economy has seen significant increases, particularly noted in November, with substantial trading volume growth [3]. 4. **Future Market Phases**: The low-altitude economy is expected to enter a third phase of market development, with significant opportunities anticipated in the radar and aviation sectors [4][21]. 5. **Company Performance**: A specific company, **Zhongshan Aviation**, is mentioned as a leading manufacturer in motorcycle engines and communication machinery, with core business segments contributing **47%** each to revenue [6][8]. 6. **Export Growth**: The export of motorcycles, particularly those over 250cc, has seen a **50%** increase, indicating strong international demand [13]. 7. **Market Penetration**: The penetration rate for large-displacement motorcycles is still low, with potential for growth as consumer demand increases [12]. 8. **Strategic Acquisitions**: The acquisition of **Longxing General** is discussed, which is expected to create synergies and enhance market share in the motorcycle engine sector [18][20]. Additional Important Insights - **Technological Advancements**: The low-altitude economy is expected to benefit from advancements in radar technology and the development of unmanned aerial vehicles (UAVs) for various applications, including environmental monitoring and delivery services [9][10]. - **Military Applications**: The military drone market is also highlighted, with a focus on high-performance, low-cost drones that can be mass-produced [10]. - **Consumer Behavior**: The average consumption of large-displacement motorcycles in China is significantly lower than in Western countries, suggesting room for market expansion [12]. - **Investment Recommendations**: Analysts suggest focusing on companies involved in engine supply and radar technology as key areas for investment in the upcoming phases of the low-altitude economy [21]. This summary encapsulates the critical insights and data points from the conference call, providing a comprehensive overview of the low-altitude economy and its associated companies.

Sector Performance - Main funds flowed into general equipment, semiconductors, and real estate sectors [1] - Main funds flowed out of cultural media, communications, and transportation equipment sectors, with cultural media sector experiencing a net outflow of 3.087 billion yuan [1] Individual Stock Performance - Zongshen Power saw a limit-up and received a net inflow of 1.009 billion yuan, ranking first in net inflow [1] - Sugon, People's Network, and Supply and Marketing Collective were among the top stocks with significant net inflows [1] - Sichuan Development Longmang experienced a net outflow of 1.409 billion yuan, ranking first in net outflow [1] - Tom Cat, East Money, and 360 were among the top stocks with significant net outflows [1]

证券代码：001696 证券简称：宗申动力 公告编号：2024-62 重庆宗申动力机械股份有限公司 关于参股公司对外投资的进展公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏。 一、交易概述 2024 年 7 月 1 日，公司参股公司重庆宗申新智造科技有限公司（简称"宗 申新智造"）与隆鑫集团有限公司、隆鑫控股有限公司、渝商投资集团股份有限 公司、重庆联恩实业有限公司、重庆寓翰房地产开发有限公司、重庆市渝商实业 投资有限公司、重庆瀛川实业有限公司、重庆隆鑫矿业投资有限公司、重庆隆鑫 投资有限公司、重庆渝商再生资源开发有限公司、重庆长江金控集团有限公司、 渭南鸿景商贸有限公司、重庆隆恒酒店有限公司（简称"隆鑫系十三家企业"） 的破产重整管理人（简称"隆鑫系十三家企业管理人"或"管理人"）签订《重 整投资协议》，参与隆鑫系十三家企业实质合并重整。宗申新智造拟出资 33.46 亿元收购隆鑫控股有限公司（简称"隆鑫控股"）所持隆鑫通用动力股份有限公 司（证券代码：603766，简称"隆鑫通用"）504,172,175 股股票，占隆鑫通用 总股本的 24.5513%。按 ...

Investment Rating - The report gives a "Recommend" rating for Zongshen Power (001696) with a current price of 27.62 yuan [2] Core Views - Zongshen Power is positioned as a key player in the low-altitude economy, with three main growth drivers: Zongshen Aero Engine, Zongshen Motorcycle Engine, and Zongshen General Machinery [2][8] - The company is expected to benefit from the booming low-altitude economy, especially in the drone and light general aviation markets [8][9] - The acquisition of Longxin General Machinery is seen as a strategic move to enhance synergies and strengthen market competitiveness [9][113] Business Segments Summary Zongshen Aero Engine - Focuses on small and medium-sized aviation piston engines, covering the drone and light general aviation markets [2][8] - In H1 2024, revenue reached 100 million yuan, up 127% YoY, with a profit of 17.11 million yuan, compared to a loss of 10.73 million yuan in H1 2023 [2][50] - The company is accelerating airworthiness certification and hybrid engine R&D, with products already used in drones like Rainbow and Wing Loong [2][49] - Plans to spin off the aero engine business for an IPO to unlock value [9][63] Zongshen Motorcycle Engine - A leading domestic motorcycle engine manufacturer with over 30 years of experience [67][68] - In 2023, sales reached 2.52 million units, up 12.98% YoY, with revenue of 3.36 billion yuan, accounting for 41% of total revenue [30][31] - The company is benefiting from the domestic demand for large-displacement motorcycles, with a CAGR of 24.28% for 250CC+ motorcycles over the past five years [9][84] - Exports are growing, with 831,680 units exported in 2023, up 8.79% YoY, including 198,000 units of 250CC+ motorcycles, up 54.90% YoY [9][92] Zongshen General Machinery - The company is moving up the value chain in general machinery, with single-unit revenue increasing from 677 yuan in 2014 to 1,097 yuan in 2023, a CAGR of 5.5% [9][101] - In H1 2024, sales reached 2.23 million units, up 25.14% YoY, driven by traditional product sales and new drone generator business [99][101] - Compared to Honda, Zongshen's general machinery revenue is only 15% of Honda's, with significant room for growth in both volume and price [107] Acquisition of Longxin General Machinery - Zongshen New Manufacturing plans to acquire 24.5513% of Longxin General Machinery for 3.346 billion yuan, becoming the controlling shareholder [111][112] - The acquisition is expected to create synergies in motorcycle and general machinery businesses, with Longxin producing 93% of Zongshen's motorcycle engines and 86% of general machinery products in 2023 [113][114] - The integration is seen as a strategic move to enhance market position and competitiveness in both domestic and export markets [114]

Group 1: Event Details - The event will take place on November 28, 2024, from 15:00 to 17:00 [1] - Investors can participate through the P5W interactive platform [1] Group 2: Company Participation - Senior management of Chongqing Zongshen Power Machinery Co., Ltd. will attend the event [1] - The format will be "one-to-many" online communication, allowing management to address investor concerns [1] Group 3: Purpose and Goals - The event aims to enhance communication between listed companies and investors [1] - It is part of efforts to improve investor relations management under the guidance of the Chongqing Securities Regulatory Bureau [1]

Group 1: Company Overview and Strategic Direction - Chongqing Zongshen Power Machinery Co., Ltd. focuses on becoming a leading provider of small and medium-sized aviation power systems, with a product line centered on small aviation piston engines and over 20 derivative products [2][4][10] - The company aims to enhance its product portfolio and expand its domestic and international markets, particularly in the low-altitude economy sector [3][4][10] Group 2: Financial Performance - In the first three quarters of 2024, Zongshen Aviation achieved revenue and net profit growth, indicating a positive financial trajectory [10] - The company emphasizes steady growth in performance through increased R&D investment and resource allocation [10] Group 3: Product Development and Innovation - Zongshen Aviation is actively working on the airworthiness certification of two engine models in collaboration with Shanhe Intelligent [2] - The company is investing in hydrogen energy technologies, focusing on fuel cell systems and their applications in various scenarios [5][7] Group 4: Market Position and Competitiveness - Zongshen Aviation's products are utilized in various unmanned aerial vehicles, including the Rainbow and Wing Loong drones, showcasing its competitive edge in the aviation sector [2][4] - The company is committed to addressing industry competition and enhancing shareholder value through compliance and strategic management [3][10] Group 5: Future Plans and Challenges - The company plans to increase its investment in R&D and resources to further develop its product lines and market share [4][10] - Zongshen Aviation is monitoring market conditions to determine potential stock repurchase or acquisition strategies [11]

证券代码：001696 证券简称：宗申动力 公告编号：2024-60 重庆宗申动力机械股份有限公司 股票交易异常波动公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记 载、误导性陈述或者重大遗漏。 一、股票交易异常波动的情况介绍 重庆宗申动力机械股份有限公司（简称"公司"）股票（证券简称：宗申动 力，证券代码：001696）于 2024 年 10 月 29 日、10 月 30 日、10 月 31 日连续三 个交易日收盘价格涨幅偏离值累计超过 20%，根据《深圳证券交易所交易规则》 的有关规定，属于股票交易异常波动。 二、公司关注并核实相关情况的说明 针对公司股票交易异常波动，公司对有关事项进行了核查，并询问了公司控 股股东及实际控制人，具体情况说明如下： 1．公司前期披露的信息不存在需要更正、补充之处。 2．公司未发现近期公共传媒报道了可能或已经对本公司股票交易价格产生 较大影响的未公开重大信息。 3．近期公司经营情况及内外部经营环境未发生重大变化。 4．公司、控股股东和实际控制人不存在关于本公司的应披露而未披露的重 大事项，或处于筹划阶段的重大事项。 1 / 2 四、风险提示 1．经自查 ...

Group 1 - Zongshen Power has experienced a significant stock price increase, with 7 out of the last 10 trading days resulting in a trading halt due to price limits, leading to a cumulative increase of 126.18% [1] - The stock has recorded a cumulative turnover rate of 250.54% over the same period [1] - As of 10:36 AM, the trading volume for the day reached 142 million shares, with a transaction value of 4.894 billion yuan, resulting in a turnover rate of 15.94% [1] Group 2 - The total market capitalization of A-shares has reached 40.454 billion yuan, while the circulating market capitalization stands at 31.491 billion yuan [1]