重庆宗申动力机械股份有限公司（简称"公司"）董事会于 2025 年 8 月 12 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 证券代码：001696 证券简称：宗申动力 公告编号：2025-40 重庆宗申动力机械股份有限公司 第十一届董事会第二十一次会议决议公告 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 公司第十一届董事会第二十一次会议于 2025 年 8 月 22 日在宗申工业园办公 大楼一楼会议室以现场和通讯表决的方式召开。 3．董事出席会议情况 会议应到董事 9 名，实到董事 9 名，以通讯表决方式出席会议的为独立董事 柴振海先生、董事王大英女士。董事长左宗申先生主持会议，公司监事、高级管 理人员列席会议，符合《公司法》和《公司章程》的有关规定。 二、董事会会议审议情况 经会议逐项审议并表决，作出如下决议： 1．以九票同意，零票反对，零票弃权，审议通过《公司 2025 年半年度报 告及摘要》； 董事会在审议本议案前，已经董事会审计委员 ...

Core Viewpoint - Zongshen Power's stock price has shown a positive trend, reflecting investor confidence in the company's potential within the low-altitude economy sector, which is recognized as a strategic emerging industry in China [1]. Company Overview - Zongshen Power is part of the transportation equipment sector, primarily engaged in the research, production, and sales of motorcycle engines and components. Its products are widely used in motorcycles and general machinery [1]. Market Performance - As of August 22, 2025, Zongshen Power's latest stock price is 25.89 yuan, an increase of 0.48 yuan or 1.89% from the previous trading day's closing price. The stock opened at 25.35 yuan, reached a high of 25.97 yuan, and a low of 25.25 yuan, with a trading volume of 524,560 hands and a transaction value of 1.35 billion yuan [1]. Industry Context - Zongshen Power has been included in the low-altitude economy concept stocks, which are expected to benefit from the broad development potential of this emerging industry [1]. Capital Flow - On the day of reporting, the net outflow of main funds for Zongshen Power was 7.98 million yuan, accounting for 0.03% of the circulating market value. Over the past five days, the net outflow was 2.20 million yuan, representing 0.01% of the circulating market value [1].

Core Insights - The article discusses the growth and production statistics of the Chinese engine industry, highlighting a projected increase in engine output by 8.8% year-on-year by June 2025 [1] - It mentions specific companies involved in the engine sector, including Weichai Power, Dongfeng Motor, and others, indicating a competitive landscape [1] Industry Overview - According to the National Bureau of Statistics, the engine production in China is expected to reach 200 million kilowatts by June 2025, reflecting a year-on-year growth of 8.8% [1] - In the first half of 2025, the cumulative engine production in China is reported to be 1.16 billion kilowatts, with a slight increase of 0.7% [1] Companies Involved - Key players in the engine industry include Weichai Power (000338), Dongfeng Motor (600841), Quanchai Power (600218), Zongshen Power (001696), Yunnei Power (000903), Aviation Power (600893), Longxin General (603766), and GAC Group (601238) [1]

Core Insights - The report highlights the ongoing recovery in the domestic financial market, with significant investments in infrastructure and a focus on emerging sectors such as energy storage and commercial aerospace [3][4][8]. Industry Updates - The price of lithium hexafluorophosphate continues to rise due to supply-demand mismatches, with related stocks including Tianqi Lithium (002709) and Xinzhou Bang (300037) [9]. - Energy storage companies are experiencing improved profitability as they push back against market saturation, with notable stocks being Goodwe (688390) and Penghui Energy (300438) [9]. - The commercial aerospace sector remains vibrant, with accelerated satellite internet construction and launch schedules, involving companies like Zhenlei Technology (688270) and Zongshen Power (001696) [10]. Company Focus - Weichai Heavy Machinery (000880) reported a revenue of 2.746 billion yuan and a net profit of 144 million yuan for the first half of 2025, marking a year-on-year growth of 52.62%, and plans to implement a stock split [12]. - Dongfang Wealth (300059) achieved a revenue of 6.856 billion yuan and a net profit of 5.567 billion yuan in the first half of 2025, reflecting a year-on-year increase of 37.27% [12]. - Guanghong Technology (300735) recently secured over 50 million euros in new product orders [12]. - 4S Small Commodity City (600415) reported a revenue of 7.713 billion yuan and a net profit of 1.691 billion yuan for the first half of 2025, showing a growth of 16.78% [12]. Market Review and Outlook - The market experienced a rebound on August 15, with the ChiNext Index leading the gains. The total trading volume across the Shanghai and Shenzhen markets was 2.24 trillion yuan, a decrease of 34.6 billion yuan from the previous trading day [14]. - The report notes a positive market sentiment, with a broad range of stocks rising, particularly in the financial and technology sectors, indicating a favorable environment for attracting new capital [14]. - The report suggests that as long as trading volumes remain above 2 trillion yuan, there will be opportunities for rotation among popular sectors such as AI, finance, and robotics [14].

Group 1 - The core concept of low-altitude economy refers to economic activities involving manned and unmanned aerial vehicles operating below 1000 meters, aimed at alleviating ground traffic pressure and enhancing operational efficiency in various scenarios [9][10] - The low-altitude economy has been recognized as a strategic emerging industry by the Chinese government, with significant policy support and a coherent implementation framework established [11][14] - The market size of China's low-altitude economy reached 505.95 billion yuan in 2023, with a growth rate of 33.8%, and is expected to exceed 1 trillion yuan by 2026 [2][30] Group 2 - The low-altitude economy is characterized by over 8000 companies, with a significant focus on drone and eVTOL sectors, which are attracting substantial capital investments [2][36] - In 2024, there were 139 financing events in the low-altitude economy, totaling 32.104 billion yuan, with eVTOL financing increasing by 310% year-on-year [2][36] - The development of low-altitude economy is supported by a multi-tiered legislative framework, including the implementation of regulations for unmanned aerial vehicles and the establishment of dedicated government agencies [15][16] Group 3 - Local governments across 30 provinces have prioritized the low-altitude economy, with initiatives such as the launch of interprovincial low-altitude passenger routes and the establishment of urban air traffic demonstration centers [19][20] - The low-altitude economy is expected to drive new economic growth points, with applications in logistics, emergency rescue, and urban transportation becoming increasingly prominent [10][30] - The integration of advanced technologies such as AI and 5G is anticipated to further enhance the development of the low-altitude economy, leading to a more robust and innovative industry landscape [11][12]

Group 1 - The AMAC General Equipment Index (AMAC General, H30061) experienced a decline of 1.38%, closing at 2359.98 points, with a trading volume of 86.789 billion yuan [1] - Over the past month, the AMAC General Equipment Index has increased by 13.71%, by 13.10% over the last three months, and has risen by 30.93% year-to-date [1] - The index is based on the classification guidelines from the China Securities Association and includes 43 industry classification indices [1] Group 2 - The top ten holdings of the AMAC General Equipment Index include: Sanhua Intelligent Control (5.93%), Shanghai Electric (5.1%), Hengli Hydraulic (3.96%), Robot (2.48%), Dongfang Electric (2.36%), Goldwind Technology (2.06%), Mingyang Smart Energy (2.06%), Zongshen Power (1.63%), Plutotech (1.55%), and Green Harmonic (1.48%) [1] - The market share of the AMAC General Equipment Index holdings is 56.21% from the Shenzhen Stock Exchange and 43.79% from the Shanghai Stock Exchange [1] Group 3 - In terms of industry composition, the AMAC General Equipment Index is comprised of 89.43% industrial sector, 9.08% consumer discretionary, and 1.49% information technology [2]

Core Viewpoint - The commercial aerospace sector is experiencing a surge in stock prices, driven by recent successful satellite launches and a clear growth trajectory in the industry [4][5]. Group 1: Regulatory Issues - Hengxin Oriental (300081) has been placed under investigation by the China Securities Regulatory Commission (CSRC) for suspected violations of information disclosure laws, leading to a significant drop in its stock price by nearly 19% [2]. - The company acknowledged accounting errors in its 2022 annual report and stated that it would cooperate with the CSRC during the investigation [2][3]. Group 2: Commercial Aerospace Growth - The commercial aerospace sector has seen a wave of stock price increases, with multiple companies reaching their daily price limits [4]. - Recent successful satellite launches, including the Long March 12 rocket, have accelerated the development of the satellite internet industry, with significant contracts for future launches [4]. - The average increase in commercial aerospace concept stocks has been nearly 35% this year, outperforming the Shanghai Composite Index [5]. Group 3: High-Growth Stocks - Over 60 stocks in the A-share market are related to commercial aerospace, with five stocks showing cumulative gains exceeding 100% [5]. - Companies like *ST Chengchang (001270) and Zongshen Power (001696) are projected to have net profit growth rates exceeding 20% in the coming years, with some expected to exceed 30% [5]. - Shanghai Huanxun (300762) is a key supplier for satellite communication systems, indicating its involvement in the growing satellite communication market [6].

金融界消息 截至2025年8月4日收盘，宗申动力（001696）报收于23.72元，上涨3.0%，换手率5.61%， 成交量50.05万手，成交金额11.87亿元。 资金流向方面，今日主力资金净流入3111.88万元，占比成交额2.62%。其中，超大单净流入3034.01万 元、占成交额2.56%，大单净流入77.87万元、占成交额0.07%，中单净流出流出3579.79万元、占成交额 3.02%，小单净流入467.91万元、占成交额0.39%。 通过天眼查大数据分析，重庆宗申动力机械股份有限公司共对外投资了21家企业，参与招投标项目37 次，专利信息100条，此外企业还拥有行政许可109个。 来源：金融界 宗申动力最新一期业绩显示，截至2025一季报，公司营业总收入32.43亿元、同比增长39.11%，归属净 利润2.26亿元，同比增长88.28%，扣非净利润2.21亿元，同比增长87.24%，流动比率1.627、速动比率 1.345、资产负债率53.78%。 天眼查商业履历信息显示，重庆宗申动力机械股份有限公司，成立于1989年，位于重庆市，是一家以从 事汽车制造业为主的企业。企业注册资本114502.6 ...

Core Viewpoint - The company is positioned to benefit from the construction of the Yaxia Hydropower Station due to its role as a core supplier of power systems for unmanned aerial vehicles (UAVs) [1] Group 1: Company Operations - The company's subsidiary, Zongshen Aviation, provides power system solutions for industrial-grade rotary-wing and fixed-wing aircraft, as well as unmanned aerial vehicles [1] - The company acknowledges the potential demand for UAV applications in challenging terrains, such as those encountered in the Yaxia Hydropower Station project [1] Group 2: Industry Trends - The introduction of drone logistics in Mêdog County has successfully reduced transportation time for a 15-kilometer distance from 40 minutes to 15 minutes, showcasing the effectiveness of UAVs in logistics [1] - The use of drones for transporting construction materials and other large items presents a significant opportunity for the UAV industry in infrastructure projects [1]

Core Viewpoint - Zongshen Power (001696.SZ) focuses on providing power system solutions for industrial-grade rotorcraft, fixed-wing aircraft, and unmanned aerial vehicles, primarily featuring aviation piston engines under 200HP [1] Company Overview - The company's subsidiary, Zongshen Aviation, is primarily engaged in the development of power systems for general aviation aircraft and drones [1] - Currently, the main product line consists of aviation piston engines with a power output of less than 200HP [1] Collaboration Status - There is no ongoing collaboration between the company and Volante Aviation at this time [1]