证券代码：001696 证券简称：宗申动力 公告编号：2025-64 重庆宗申动力机械股份有限公司 第十二届董事会第三次会议决议公告 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 2025 年 12 月 5 日向全体董事和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。 经会议逐项审议并表决，作出如下决议： 1．以五票同意，零票反对，零票弃权，审议通过《关于调整 2025 年度日 常关联交易预计的议案》，关联董事左宗申先生、胡显源先生、李耀先生、黄 培国先生回避表决。 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《关于调整 2025 年度日 常关联交易预计的公告》。 2．以五票同意，零票反对，零票弃权，审议通过《关于公司 2026 年度日 常关联交易预计情况的议案》，关联董事左宗申先生、胡显源先生、李耀先生、 1 / 2 黄培国先生回避表决。 董事会在审议本议案前，已经独立董事 ...

每经AI快讯，宗申动力12月10日晚间发布公告称，公司第十二届第三次董事会会议于2025年12月10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。会议审议了《关于召开2025年第二次 临时股东会的议案》等文件。 每经头条（nbdtoutiao）——最新1520元，飞天茅台批价两年跌了43%，经销商躺赢神话破灭，当潮水 退去谁在裸泳？ （记者 王瀚黎） ...

企业名称：西藏国隆商贸服务有限公司 本公司及董事会全体成员保证公告内容的真实、准确、完整，没有虚假记载、误导性陈述或重大遗漏。 统一社会信用代码：915400007453065224 重庆宗申动力机械股份有限公司（简称"公司"）于近日收到公司第二大股东西藏国隆商贸服务有限公司 （原称"西藏国隆科技有限公司"，简称"第二大股东"）发来的《关于公司名称等工商登记信息变更告知 函》，经西藏拉萨经济技术开发区市场监督管理局核准，第二大股东本次《营业执照》变更涉及名称、 经营范围和住所变更，具体情况如下： 一、第二大股东工商登记变更情况 ■ 二、第二大股东变更后的《营业执照》登记信息 三、备查文件 1．《关于公司名称等工商登记信息变更告知函》； 2．西藏国隆商贸服务有限公司《营业执照》。 特此公告。 类型：有限责任公司（自然人投资或控股） 住所：西藏自治区拉萨经济技术开发区世邦.金色两岸1栋1层7号、1栋1层8号 法定代表人：王大英 注册资本：叁仟贰佰万圆整 成立日期：2002年11月25日 经营范围：一般项目：摩托车及零配件批发；摩托车及零配件零售；机动车修理和维护；服装服饰零 售；鞋帽零售；体育用品及器材销售；机械 ...

证券日报网讯 12月5日晚间，宗申动力发布公告称，公司第二大股东西藏国隆商贸服务有限公司（原 称"西藏国隆科技有限公司"）已完成名称、经营范围及住所的工商变更登记，变更后住所位于西藏自治 区拉萨经济技术开发区世邦·金色两岸1栋1层7号、1栋1层8号，经营范围新增摩托车及零配件批发、机 动车修理和维护、服装服饰零售等许可项目。 （文章来源：证券日报） ...

证券代码：001696 证券简称：宗申动力 公告编号：2025-63 重庆宗申动力机械股份有限公司 关于第二大股东变更名称及其他工商登记信息的公告 本公司及董事会全体成员保证公告内容的真实、准确、完整，没有虚假记 载、误导性陈述或重大遗漏。 重庆宗申动力机械股份有限公司（简称"公司"）于近日收到公司第二大股 东西藏国隆商贸服务有限公司（原称"西藏国隆科技有限公司"，简称"第二大 股东"）发来的《关于公司名称等工商登记信息变更告知函》，经西藏拉萨经济 技术开发区市场监督管理局核准，第二大股东本次《营业执照》变更涉及名称、 经营范围和住所变更，具体情况如下： | 变更内容 | 变更前 | 变更后 | | --- | --- | --- | | 公司名称 | 西藏国隆科技有限公司 | 西藏国隆商贸服务有限公司 | | | 许可项目：代理记账（依法须经批准的 | 一般项目：摩托车及零配件批发；摩托 | | | 项目，经相关部门批准后方可开展经营 | 车及零配件零售；机动车修理和维护； | | | 活动）一般项目：新材料技术推广服务； | 服装服饰零售；鞋帽零售；体育用品及 | | | 人工智能应用软件开发；摩托车及零 ...

Core Viewpoint - In Q3 2025, Zongshen Power achieved a net profit of 252 million yuan, representing a year-on-year growth of 131% [2][10]. Financial Performance - In the first three quarters of 2025, the company reported revenue of 9.639 billion yuan, an increase of 30.17% year-on-year, and a net profit attributable to shareholders of 758 million yuan, up 93.70% year-on-year [3][10]. - For Q3 2025, the company generated revenue of 2.946 billion yuan, a year-on-year increase of 13.68% but a quarter-on-quarter decrease of 14.60, with a net profit of 252 million yuan, reflecting a year-on-year growth of 130.65% and a quarter-on-quarter decline of 9.75% [3][10]. - The company's net profit margin improved by 4.4 percentage points year-on-year in Q3 2025, while the four expense ratios decreased year-on-year [4][5]. Business Segments - Zongshen Power is a core player in the domestic small and medium-sized power machinery sector, actively expanding into the low-altitude economy [6]. - The company focuses on traditional core businesses in "general machinery" and "motorcycle engines," while also investing in emerging fields such as "aviation power," "new energy," and "high-end components" [7][24]. - The company has developed a product line centered on small and medium-sized aviation piston engines, establishing five aviation power platforms and launching over 20 derivative products, including propeller products for drones and light general aviation aircraft [7][32]. Market Opportunities - The company is leveraging policy benefits and market opportunities in the low-altitude economy, with its self-developed CA500 aviation piston engine nearing certification for compliance with CAAC and ASTM F2339 standards [7][33]. - Zongshen Power is actively participating in various exhibitions to enhance its market presence and explore potential collaborations in the rapidly growing drone market [34]. New Energy and High-End Components - The company has established a dual-driven strategy for new energy, focusing on electric drive systems, energy storage, and hydrogen energy [37][40]. - Zongshen Power is enhancing its electric drive system capabilities, targeting applications in electric motorcycles, special vehicles, and agricultural machinery [39]. - The high-end components business has a comprehensive R&D system and manufacturing capabilities, producing aluminum alloy castings and precision machined parts [43].

Core Viewpoint - The company has been focusing on its core business and steady development, enhancing operational scale and economic efficiency while promoting industrial transformation and upgrading [1] Group 1 - The company has been actively increasing shareholder returns through high cash dividend ratios [1] - The company emphasizes improving the fairness and timeliness of information disclosure [1] - The company has been receiving institutional research to enhance investor understanding [1]

Group 1 - The core viewpoint of the report indicates that Zongshen Power (001696.SZ) achieved a net profit of 252 million yuan in Q3 2025, representing a year-on-year increase of 131% [1] - The company's net profit margin improved by 4.4 percentage points year-on-year in Q3 2025, while the four expense ratios decreased year-on-year [1] - Zongshen Power is actively positioning itself in the low-altitude economy as a key player among domestic small and medium-sized power machinery enterprises [1]

Investment Rating - The report maintains an "Outperform the Market" rating for the company [5][3][59] Core Insights - The company achieved a net profit of 252 million yuan in Q3 2025, representing a year-on-year growth of 131%. For the first three quarters of 2025, revenue reached 9.639 billion yuan, up 30.17% year-on-year, with a net profit of 758 million yuan, an increase of 93.70% [1][8] - The company is actively expanding into the low-altitude economy, focusing on three strategic emerging areas: aviation power, new energy, and high-end components, while solidifying its leadership in traditional sectors like general machinery and motorcycle engines [2][59] Financial Performance - In Q3 2025, the company reported a revenue of 2.946 billion yuan, a year-on-year increase of 13.68%, and a net profit of 252 million yuan, up 130.65% year-on-year. The net profit margin improved by 4.4 percentage points year-on-year, reaching 9.1% [1][13] - The company’s gross margin for Q3 2025 was 15.1%, showing a year-on-year increase of 0.3 percentage points [13][20] Revenue and Profit Forecast - The company forecasts revenues of 13.411 billion yuan, 16.127 billion yuan, and 18.727 billion yuan for 2025, 2026, and 2027 respectively, with net profits expected to be 1.007 billion yuan, 1.187 billion yuan, and 1.369 billion yuan for the same years [3][4][59] Business Segments - The company operates in several key segments: 1. **General Machinery**: The company’s subsidiaries are leaders in the general machinery sector, achieving a revenue of 3.647 billion yuan in H1 2025, a 73.06% increase year-on-year [30] 2. **Motorcycle Engines**: The motorcycle engine segment generated a revenue of 2.330 billion yuan in H1 2025, reflecting a 14.39% year-on-year growth [34] 3. **Aviation Power**: The company has developed a product line focused on small and medium-sized aviation piston engines, with significant advancements in certification processes for its CA500 engine [39][40] 4. **New Energy**: The company is expanding its new energy business, focusing on electric drive systems and energy storage solutions, with a strong emphasis on market penetration and technological innovation [45][49] Strategic Focus - The company aims to transition from traditional manufacturing to a digital, technological, and intelligent power system integration service provider, enhancing its competitive edge in both traditional and emerging markets [57][58]

Investment Rating - The investment rating for the company is "Outperform the Market" [5][3]. Core Insights - The company has shown significant growth, with a net profit of 252 million yuan in Q3 2025, representing a year-on-year increase of 131%. For the first three quarters of 2025, revenue reached 9.639 billion yuan, up 30.17% year-on-year, and net profit was 758 million yuan, up 93.70% year-on-year [1][8]. - The company is actively expanding into the low-altitude economy, focusing on traditional sectors like general machinery and motorcycle engines while also investing in emerging fields such as aviation power, new energy, and high-end components [2][59]. - The company has a robust order book and continues to see growth in its core businesses, which supports the maintained profit forecasts for 2025-2027 [3][59]. Financial Performance - In Q3 2025, the company achieved a revenue of 2.946 billion yuan, a year-on-year increase of 13.68%, while the net profit for the same period was 252 million yuan, reflecting a year-on-year growth of 130.65% [1][8]. - The gross margin for Q3 2025 was 15.1%, up 0.3 percentage points year-on-year, and the net margin was 9.1%, up 4.4 percentage points year-on-year [13][1]. - The company’s operating income projections for 2025-2027 are 13.411 billion yuan, 16.127 billion yuan, and 18.727 billion yuan, respectively, with net profits expected to be 1.007 billion yuan, 1.187 billion yuan, and 1.369 billion yuan [4][59]. Business Segments - The company is a leading player in the domestic small and medium-sized power machinery sector, focusing on general machinery and motorcycle engines, while also developing its aviation power and new energy segments [25][2]. - The aviation power segment has developed a product line centered on small and medium-sized aviation piston engines, with over 20 derivative products launched, targeting the drone and light aircraft markets [2][39]. - The new energy business is structured around electric drive systems, energy storage solutions, and hydrogen energy, aiming to create a balanced growth model between traditional and innovative sectors [45][51]. Market Position - The company maintains a strong market position in traditional sectors while actively pursuing growth in emerging fields, which is expected to provide new revenue streams and enhance overall market competitiveness [59][26]. - The company’s strategic focus on low-altitude economy opportunities is anticipated to yield significant business growth, particularly in the aviation engine sector [40][59].