证券代码：001696 证券简称：宗申动力 公告编号：2024-43 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。 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。 重庆宗申动力机械股份有限公司 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 8 月 1 日、8 月 2 日连续两个交易日收盘价 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。 四、风险提示 1．经自查，公司不存在违反信息公平披露的情形。 2 ...

证券代码：001696 证券简称：宗申动力 公告编号：2024-42 重庆宗申动力机械股份有限公司 对外担保进展公告 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、担保情况概述 1．担保审议情况 重庆宗申动力机械股份有限公司（简称"公司"）分别召开第十一届董事会 第十四次会议和 2023 年年度股东大会审议通过《关于 2024 年度对子公司担保的 议案》：同意 2024 年度公司对合并报表范围内的下属子公司担保、全资子公司 对公司担保及下属子公司间互保额度预计为 44.30 亿元，公司向控股子公司提供 的诉讼保全信用担保的额度预计为 2 亿元，有效期至公司 2024 年年度股东大会 重新核定额度前。具体内容详见公司于 2024 年 3 月 30 日和 4 月 20 日在巨潮资 讯网（www.cninfo.com.cn）上披露的相关公告。 2．担保进展情况 近日，公司对合并报表范围内的下属子公司重庆宗申发动机制造有限公司、 重庆宗申通用动力机械有限公司、重庆百诺达进出口贸易有限公司、重庆杜卡申 瑞国际贸易有限公司申请的综合授信额度提供连带责任保证担保合计 6 ...

Summary of the Conference Call on Zongshen Power Company Overview - **Company Name**: Zongshen Power - **Industry**: General machinery and motorcycle manufacturing - **Market Position**: Leading player in the small internal combustion engine sector in China [5][6] Key Points and Arguments Business Segments - **Motorcycle Engines**: Zongshen Power is recognized as a dominant player in the motorcycle engine market, with a significant market share and ongoing expansion into larger engine segments [41][42] - **General Machinery**: The company has diversified into general machinery, including products like generators and lawn equipment, which are essential in various markets, particularly in developing regions [44][45] - **Aviation Engine Business**: Zongshen Power has made significant investments in the low-altitude economy, focusing on aviation engines. The company aims to address domestic needs for piston engines, which are critical for UAVs and light aircraft [8][10][12][38] Financial Performance - **Revenue Growth**: Over the past 20 years, Zongshen Power's revenue has grown from approximately 1 billion to over 8 billion yuan, reflecting a compound annual growth rate (CAGR) of about 11% [15] - **Profitability**: Net profit has increased from 40 million to 360 million yuan, maintaining a consistent growth rate [15] - **Market Trends**: The company has observed a steady increase in demand for its products, particularly in the motorcycle and general machinery sectors, with a notable recovery in exports [48][57] Strategic Initiatives - **Acquisitions**: Zongshen Power has acquired companies to enhance its product offerings and market reach, notably the acquisition of a company in the UAV sector to strengthen its aviation engine capabilities [3][46] - **R&D Investments**: The company has invested in R&D for aviation engines, with successful trials of its C145 engine on military UAVs, indicating reliability and market readiness [11][20] - **New Energy Ventures**: Zongshen Power is expanding into the new energy sector, including energy storage solutions, which are expected to grow significantly in the coming years [12][49] Market Opportunities - **Low-Altitude Economy**: The company is well-positioned to capitalize on the growing low-altitude economy, with products suitable for UAVs and light aircraft, which are increasingly in demand [25][38] - **Global Market Share**: Zongshen Power's UAV engines are gaining traction in international markets, with China holding a significant share of the global UAV export market [31][32] Additional Important Insights - **Management Stability**: The management team has a long tenure, contributing to the company's stability and strategic direction [16] - **Talent Pool**: The company boasts a highly educated workforce, with over 30% holding master's degrees, enhancing its R&D capabilities [22] - **Regulatory Support**: Recent government policies are expected to drive demand for piston engines, aligning with Zongshen Power's product focus [38] Risks and Challenges - **Market Volatility**: Potential risks include lower-than-expected demand, fluctuations in raw material prices, and trade tensions that could impact profitability [59][60] - **Expansion Challenges**: The pace of new business development and capacity expansion may not meet expectations, posing a risk to growth targets [59][60]

Financial Data and Key Metrics Changes - The company has achieved synchronized high-speed growth in revenue and net profit over the past 20 years, indicating strong operational capabilities and promising development prospects [18] Business Line Data and Key Metrics Changes - The motorcycle engine business, as the company's foundational business, maintains a leading position in the domestic market and is gradually expanding into the mid-to-high-end market, with continuous growth in market share [22][47] - The general machinery business has experienced rapid growth through acquisitions, covering various categories such as generator sets and high-pressure cleaners, especially performing strongly in overseas markets [47] Market Data and Key Metrics Changes - The global small and medium-sized aviation engine market has seen a total output value exceeding $8 billion from 2000 to 2021, with the general aviation sector accounting for about 60% of the market [27] - The communication business has shown stable high growth, significantly outpacing GDP growth in developed countries, with double-digit growth rates [11] Company Strategy and Development Direction - The company is focusing on the new energy business and has acquired Dongguan Lihui to enhance its energy storage segment, while maintaining stability in its main business [3][18] - The company is actively expanding into the low-altitude economy and has made breakthroughs in this niche market, showcasing strong growth potential and market competitiveness [2][39] Management's Comments on Operating Environment and Future Outlook - Management highlighted the challenges posed by export pressures, raw material price fluctuations, trade frictions, and the expansion of new businesses, but emphasized the company's strong growth potential and market competitiveness through continuous product enhancement [39] - The management expressed confidence in the recovery of the energy storage business, particularly in the North American market, which is expected to drive business recovery [29][31] Other Important Information - The company has a clear shareholding structure and a stable management team, with many executives having over ten years of tenure, reflecting the robustness of the management structure [7] - The company has successfully completed a shareholding reform, further solidifying its leading position in the aviation engine sector [15] Q&A Session Summary Question: What kind of company is Zongshen Power in the niche market? - Zongshen Power is a leading company in the motorcycle and general machinery sectors, with strong performance in its main business and breakthroughs in the low-altitude economy [6] Question: How is the technical strength and innovation capability of Zongshen Aviation? - Zongshen Aviation's C145 model is competitive in the high-power field, demonstrating strong product competitiveness [9] Question: What is the development status of the energy storage business? - The energy storage business has made significant progress since the introduction of advanced technology and management, covering various fields such as portable energy storage and golf cart batteries [29] Question: How is the company's motorcycle engine business developing? - The motorcycle engine business is gradually moving towards the mid-to-high-end market, with an increasing market share and strong product quality [22] Question: What are the key developments and outlook for the components business? - The components business has expanded capacity in response to increased demand from the automotive industry, particularly in high-end aviation components, and is expected to achieve profit growth as capacity is gradually released [24]

Summary of Conference Call Company or Industry Involved - The conference call was directed towards institutional investors and invited third-party guests of Zheshang Securities Research Institute [1] Core Points and Arguments - The content of the call represents personal opinions and does not constitute specific judgments or investment advice regarding particular securities at specific price points or market performances [1] Other Important but Possibly Overlooked Content - The call emphasizes the importance of understanding that the information shared is subjective and should not be interpreted as definitive investment guidance [1]

来看我们到我们会交叉的指向会选到这样一个公司那这个公司的目前来看从摩托车和那个他的通缉和摩托车来看都是这个新闻上龙头目前的整体估值是高于这个行业的他其实对他的行发就是低工经济这一块的业务呢其实是还是还是有所反映的那么更详细的一些情况那么会请我 各位领导 大家晚上好我是今晚《众生动力》深度汇报的主持人我是浙商国防研究员陈全感谢邱市长所长的开场今天和我一同汇报的是我们浙商大制造分析师王嘉义老师 这里由我开场向各位领导就简单讲一下这个公司的一个总体情况以及关于它航班业务的一个情况关于魔法业务通用机械储能和气灵业务有王嘉义老师向各位领导进行汇报 首先综升动力这家公司我们大家在生活中也经常会听到原来的综升的摩托车也非常有名最近我们也能观察到综升动力旗下的综升新科技这个公司它也是要收购龙兴通用部分股份综升动力也一举成为龙兴通用的最大股东然后做综升新式也成为了龙兴通用的 这个时空人这也证明了就是说终身动力他无论是在自己的主业上他是有个非常这个亮眼的一个突破和规划宏大的规划而且在最近刚才我们摄像所长提到的这个低空经济领域那他也是早有布局 那而且在这一轮低空经济就今年上半年以来的低空经济尤其是3月27号之后的这个行情中了终身动 ...

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%。按照宗申新智造将取得的隆鑫通用股票数量计算，对应每 股 6.6366 元。具体内容详见公司于 2024 ...

Investment Rating - The report initiates coverage with a "Buy" rating for the company [2]. Core Views - The company is a leading player in the domestic engine and general machinery industry, with comparable companies having an average PE of 10.70X for 2024. The company is expected to enjoy a premium due to its excellent quality, competitive strength, and promising new business prospects [2]. - Projected total revenue for 2024-2026 is estimated at 9.742 billion, 11.160 billion, and 12.395 billion yuan, with net profits of 633 million, 708 million, and 796 million yuan respectively. The average compound annual growth rates (CAGR) for total revenue and net profit over the next three years are expected to be 15.00% and 30.0% respectively [2]. Summary by Sections Company Overview - The company has over 40 years of experience in the general machinery sector and has become a dominant player in the industry. Its products are widely used in well-known drones and by major brands in the fuel and new energy vehicle sectors [14][27]. Financial Performance - From 2003 to 2023, the company's total revenue grew from 993 million to 8.151 billion yuan, with a CAGR of approximately 11.1%. The net profit increased from 43 million to 362 million yuan during the same period, with a CAGR of 11.2% [59][62]. Business Segments - The company's revenue composition as of 2023 includes 41.97% from engine products, 48.22% from general machinery, and 5.91% from component products [59]. - The motorcycle engine segment is experiencing significant growth, with a focus on larger displacement engines, which are becoming the mainstay of the market. The company holds a 17% market share in the motorcycle engine segment [66][70]. Market Trends - The motorcycle market shows a robust growth trajectory, with new motorcycle registrations increasing at a CAGR of 13.29% from 2017 to 2023. The production and sales of motorcycles in 2023 were 19.41 million and 18.99 million units respectively, reflecting a stable market [40][41]. Strategic Developments - The company has been actively expanding its product offerings and market reach, including a focus on new energy solutions and strategic acquisitions to enhance its competitive edge [56][68].

A on the line. 本次电话会议仅面向招商证券的专业投资机构客户或受邀客户会议嘉宾发言内容仅代表其个人观点所有信息或观点不构成投资建议未经招商证券事先书面许可任何机构或个人严禁录音、制作机要、转发、转载、传播、复制、编辑、修改等涉嫌违反上述情形的我们将保留一切法律权利感谢您的理解和支持,谢谢 各位尊重投资人大家下午好我们今天是我们在周末的时候发了我们对华峰科技的一个首次覆盖然后今天这次会议主要是对华峰科技这篇报告做一个深度解读并且表达一下我们对于这家公司的最新的一些看法和观点然后我们本次的交流是设置有PPT的所以建议是通过客户端是能够看到PPT 然后并且我们会议后面会有这个提问环节然后华峰科技这家公司其实整体来看最大的预期差或者最大的变化是来自于它的一个历史的沿革因为华峰其实是一家很老的企业了它的控股股东的是四川长虹然后穿透下来的是绵阳市国资委和四川省财政厅来去控股 是这样的一家企业 然后呢 最早的技术呢 其实是从五十年代六十年代那会儿的顶尖企业就已经有了而是一家非常是一家非常有历史渊源的一家企业然后呢 但然后呢 但是呢 其实在之前几年 尤其是在这个 呃2010年左右或者呃2000年附近的时候呃其实 ...

证券代码：001696 证券简称：宗申动力 公告编号：2024-40 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。 重要内容提示： 交易内容：重庆宗申动力机械股份有限公司（简称"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"）拟收购隆鑫通用动力股份 有限公司（证券代码：603766，简称"隆鑫通用"或"目标公司"）504,172,175 股股票，占隆鑫通用总股本的 24.5513%（简称"本次交易"或"本次重整投资"）。 二、交易方基本情况 （一）重整管理人 2022 年 2 月 7 日，重庆市第五中级人民法院作出（2022）渝 05 破 76 号-88 号决定，指定北京市隆安律师事务所与北京大成（上海）律师事务所组成的联合 机构担任隆鑫系十三家企业的管理人。 投资金额：33.46 亿元 特别风险提示：本次交易尚需履行反垄断主管部门的经营者集中申报审 查等程序，鉴于本次交易拟收购的目标股份尚未完成交割，交易完成尚具有一定 的不确定性，敬请广大投资者注意投资风险。 一、交易概述 202 ...