Core Viewpoint - The company Zongshen Power announced an expected net profit of 665 million to 782 million yuan for the first three quarters of 2025, representing a year-on-year growth of 70% to 100% [1] Summary by Relevant Categories Financial Performance - The projected net profit for the first three quarters of 2025 is between 665 million and 782 million yuan, indicating a significant increase compared to the previous year [1] - The expected growth rate of 70% to 100% highlights strong financial performance [1] Business Segments - Growth in the general machinery business and motorcycle engine business contributed to the overall performance increase [1] - Enhanced earnings from investments in joint ventures also played a role in the company's improved results [1]

2023 年 6 月 29 日，重庆宗申动力机械股份有限公司（简称"公司"）控股 子公司重庆宗申航空发动机制造股份有限公司（简称"宗申航发公司"）向中国 证券监督管理委员会重庆监管局（简称"重庆证监局"）报送了首次公开发行股 票并上市辅导备案登记材料，并于 2023 年 6 月 30 日获得重庆证监局受理，辅导 机构为中国国际金融股份有限公司（简称"中金公司"）。具体内容详见公司于 2023 年 7 月 4 日在指定媒体和巨潮资讯网（www.cninfo.com.cn）上披露的相关 公告。 证券代码：001696 证券简称：宗申动力 公告编号：2025-55 重庆宗申动力机械股份有限公司 关于控股子公司上市辅导备案的进展公告 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。 2025 年 10 月 15 日 1 / 1 综合考虑宗申航发公司战略发展需要及资本市场环境变化，宗申航发公司终 止上述上市辅导事项。2025 年 9 月 30 日，宗申航发公司与其辅导机构中金公司 签署《重庆宗申航空发动机制造股份有限公司与中国国际金融股份有限公司辅导 协议之终止协议》，并于 ...

证券代码：001696 证券简称：宗申动力 公告编号：2025-56 重庆宗申动力机械股份有限公司 二、与会计师事务所沟通情况 本期业绩预告未经会计师事务所预审计。 2025 年前三季度业绩预告 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。 一、本期业绩预计情况 1．业绩预告期间 2025 年 1 月 1 日至 2025 年 9 月 30 日 2．业绩预告情况 预计净利润为正值且属于下列情形之一： 扭亏为盈 同向上升 同向下降 | 项 | 目 | 2025 1 1 日—2025 9 | 年 | 月 | 年 | 月 | 30 | 日 | 上年同期 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 归属于上市公司股 | | 盈利：66,500 万元–78,235 | | | | 万元 | | | 盈利：39,117.61 | 万元 | | 东的净利润 | | 比上年同期增长：70%–100% | | | | | | | | | | 归属于上市公司股 东的扣除非经常性 | ...

Core Viewpoint - Chongqing is transforming into a global industrial base for smart connected electric vehicles, with ambitious production targets and a focus on electric two-wheelers, aiming for an annual output of over 15 million units by 2027 [1][14]. Group 1: Industry Transformation - The production of electric motorcycles in Chongqing reached 1.45 million units from January to July this year, marking a 34% year-on-year increase, indicating a rapid shift towards electrification [2]. - Chongqing has attracted seven of the top ten electric vehicle companies in China, including Yadea and Aima, with a local supply rate exceeding 60% for key components [1][10]. - The local government has initiated the "Chongqing Smart Connected Electric Vehicle Industry Development Action Plan (2025-2027)," aiming to establish a global industrial base for smart electric vehicles [1][14]. Group 2: Historical Context - Chongqing was once the heart of motorcycle manufacturing in China, producing the first civilian motorcycle, the "Jialing CJ50," in 1979, which symbolized the beginning of motorized transportation for Chinese families [4][7]. - The decline of the "Big Three" motorcycle manufacturers—Lifan, Longxin, and Zongshen—was attributed to policy changes, market saturation, and technological limitations, leading to a significant shift in the industry landscape [8][9]. Group 3: Smart and Electric Integration - The focus is shifting from merely achieving electrification to integrating smart technologies, with companies like Tailin implementing Huawei's HarmonyOS for enhanced connectivity features [12][13]. - The Chongqing government is promoting the development of a "Smart Electric Vehicle Data Service System" to facilitate future applications like battery swapping and shared mobility [10][12]. - The challenge lies in balancing the cost of smart features with consumer willingness to pay, as the electric two-wheeler market is highly price-sensitive [12][13]. Group 4: Global Expansion - With the domestic market reaching saturation, Chongqing's motorcycle companies are looking to expand internationally, particularly in Southeast Asia, Africa, and Latin America [2][16]. - The logistics network in Chongqing is a competitive advantage for exporting electric vehicles, with efficient routes established to key markets [19]. - Companies are adapting their products for international markets, focusing on customization and smart technology to differentiate themselves from competitors [20][21].

Core Viewpoint - The sodium-ion battery concept has seen a significant increase in stock prices, with a 3.08% rise, ranking fifth among concept sectors, indicating growing investor interest and potential in this technology [1][2]. Group 1: Market Performance - As of September 29, the sodium-ion battery sector had 116 stocks rising, with notable performers including Wanrun New Energy, which hit a 20% limit up, and Tianqi Materials, Fengshan Group, and Xiangtan Electric, all reaching their daily limit up [1]. - The top gainers in the sector included Tianqi Technology (up 14.36%), Haike New Source (up 12.96%), and Huasheng Lithium (up 12.41%) [1][9]. - Conversely, leading decliners included Xian Dao Intelligent (down 3.59%), Zongshen Power (down 2.00%), and Yunnan Energy Investment (down 1.43%) [1]. Group 2: Capital Inflow - The sodium-ion battery sector attracted a net inflow of 1.289 billion yuan, with 64 stocks receiving net inflows, and 10 stocks exceeding 100 million yuan in net inflow [2]. - Tianqi Materials led the net inflow with 983.3 million yuan, followed by Duofluor and Ningde Times with net inflows of 497 million yuan and 464 million yuan, respectively [2][3]. - The highest net inflow ratios were observed in Fengshan Group (52.26%), Duofluor (46.70%), and Tianji Shares (42.84%) [3]. Group 3: Stock Performance Metrics - Key stocks in the sodium-ion battery sector showed significant daily performance, with Tianqi Materials rising by 10.01% and Duofluor by 9.98% [3]. - The turnover rates for these stocks varied, with Tianqi Materials at 15.72% and Duofluor at 5.11%, indicating active trading [3]. - Other notable performers included Yiwai Lithium Energy (up 8.30%) and Guoxuan High-Tech (up 4.04%) [3].

Group 1: Business Growth Strategies - The company employs analytical and constructive strategies to balance traditional high-end upgrades with new business resource investments, ensuring the synergy of two growth curves [1] - The fuel power business is transitioning towards high-end, high-value sectors, while the new energy business is rapidly scaling up in electric drive systems, energy storage, and hydrogen energy [2] Group 2: New Energy Business Performance - The new energy product system has been established, covering electric drive systems, energy storage, and hydrogen energy, with a focus on maintaining stable growth in traditional businesses while innovating in new energy [2] - Financial data regarding the new energy business, including revenue share and gross margin, can be found in the company's 2025 semi-annual report [2] Group 3: Product Development and Market Feedback - The hydrogen forklift is currently in demonstration applications within industrial parks and has not yet achieved commercialization [2] - The company has successfully achieved batch supply of small aviation engines through its subsidiary, Zongshen Aviation [4] Group 4: Financial Performance and Cost Management - The company reported a 79.37% year-on-year increase in net profit for the first half of 2025, driven by growth in traditional businesses and investment income [8] - To manage costs amid raw material price fluctuations, the company is implementing long-term strategic partnerships and improving production efficiency [8] Group 5: Market Position and Future Plans - The company is positioned as a leading manufacturer of small and medium-sized power machinery, with a focus on high-end, intelligent, and electric product transformations [3] - The company is exploring strategic opportunities to expand into humanoid robots and other robotic platforms based on existing technology [3]

Market Performance - The general equipment sector increased by 1.52% on September 22, with Wald leading the gains [1] - The Shanghai Composite Index closed at 3828.58, up 0.22%, while the Shenzhen Component Index closed at 13157.97, up 0.67% [1] Top Gainers - Wald (688028) closed at 50.71, up 13.19% with a trading volume of 167,300 shares and a transaction value of 833 million [1] - DeMa Technology (688360) closed at 26.36, up 10.99% with a trading volume of 278,400 shares and a transaction value of 717 million [1] - Huafeng Co. (605100) closed at 27.13, up 10.02% with a trading volume of 82,400 shares and a transaction value of 217 million [1] Top Losers - Xun'an Technology (834950) closed at 22.74, down 6.96% with a trading volume of 22,800 shares and a transaction value of 52.29 million [2] - Qianjin Technology (873679) closed at 24.56, down 6.33% with a trading volume of 18,000 shares and a transaction value of 44.51 million [2] - Chicheng Co. (834407) closed at 22.04, down 5.49% with a trading volume of 50,700 shares and a transaction value of 113 million [2] Capital Flow - The general equipment sector experienced a net outflow of 1.097 billion from institutional investors, while retail investors saw a net inflow of 759 million [2] - The top stocks by net inflow from institutional investors included Sea Eagle Co. (603269) with 66.81 million and Aerospace Power (600343) with 54.43 million [3] - The top stocks by net outflow from institutional investors included Sea Eagle Co. (603269) with -31.54 million and Precision Technology (688627) with -24.73 million [3]

Core Viewpoint - In Q2 2025, Zongshen Power achieved a net profit of 279 million yuan, representing a year-on-year growth of 73% [2][9] - For H1 2025, the company reported revenue of 6.693 billion yuan, up 39.05% year-on-year, and a net profit of 506 million yuan, up 79.37% year-on-year [2][9] Financial Performance - In Q2 2025, the company recorded revenue of 3.450 billion yuan, a year-on-year increase of 39.00% and a quarter-on-quarter increase of 6.40% [2][9] - The gross profit margin for Q2 2025 was 15.6%, down 0.7 percentage points year-on-year but up 1.9 percentage points quarter-on-quarter [4][15] - The net profit margin for Q2 2025 was 8.2%, up 1.2 percentage points year-on-year and up 1.0 percentage points quarter-on-quarter [4][15] Business Segments - The company focuses on traditional core businesses, particularly in "general machinery" and "motorcycle engines," solidifying its leading position in niche markets [6][49] - In emerging sectors, Zongshen Power is actively investing in "aviation power," "new energy," and "high-end components," increasing R&D and market expansion efforts [6][49] - The company has developed a product line centered on small and medium-sized aviation piston engines, establishing five major aviation power platforms and launching over 20 derivative products [6][34] Low-altitude Economy - Zongshen Aviation has successfully developed the CA500 aviation piston engine, which is set to become the first domestic aviation power product to meet CAAC and ASTM F2339 standards [6][35] - The company is accelerating the certification process for its products and developing hybrid aviation engines to support widespread application in the low-altitude economy [6][35] General Machinery Business - Zongshen's general machinery business achieved total revenue of 3.647 billion yuan in H1 2025, a year-on-year increase of 73.06%, with a net profit of 370 million yuan, up 139.79% [28][49] - The company has strengthened its market position through technological advancements and resource synergies, particularly in the fields of stationary power generation and emergency power supply [28][49] Motorcycle Engine Business - The motorcycle engine segment reported revenue of 2.330 billion yuan in H1 2025, a year-on-year increase of 14.39%, with a net profit of 133 million yuan, up 39.30% [30][49] - The company is focusing on market expansion in emerging markets such as Mexico, Brazil, and West Africa, while enhancing its technological capabilities [30][49] New Energy Business - Zongshen Power has established a dual-driven strategy in the new energy sector, focusing on electric drive systems, energy storage, and hydrogen energy [40][44] - The electric drive system business is advancing in various applications, including special vehicles and electric motorcycles, with significant market breakthroughs [42][44] - The energy storage segment is expanding its product offerings and has initiated global expansion efforts, including establishing a subsidiary in Germany [43][44]

Core Insights - The 2025 China Motorcycle Chongqing Forum emphasized the theme "Gathering Strength, Breaking Through" and aimed to discuss the future of the motorcycle industry with representatives from various enterprises [1] - The forum highlighted Chongqing's status as a global motorcycle hub, showcasing significant achievements in industry scale, export performance, corporate strength, product structure, and industrial ecology [6][8] - The event featured discussions on the transformation of the motorcycle industry, focusing on innovation, brand building, and international market expansion [8][10] Industry Overview - Chongqing's motorcycle industry has evolved significantly, characterized by larger scale, better export trends, stronger corporate capabilities, improved product structures, and a more complete industrial ecosystem [6] - The global motorcycle industry is entering a growth cycle, with China transitioning from a manufacturing powerhouse to a strong manufacturing nation, particularly in smart and electric vehicles [8] - The domestic market is experiencing dual upgrades in consumer demand for both livelihood and recreational use, while international markets in regions like Asia, Africa, and Latin America present vast opportunities [8] Challenges and Recommendations - The industry faces challenges such as global economic uncertainty, trade protectionism, and internal competition [8] - Recommendations include focusing on independent innovation, enhancing brand building, expanding international markets, and strengthening industry self-discipline [8] Market Trends - The motorcycle market in Mexico is projected to grow, with significant increases in ownership and sales, particularly in electric motorcycles [19] - The Mexican motorcycle market is expected to reach a value of $3.36 billion, with a notable increase in imports from China [19] Strategic Discussions - The forum included discussions on long-term strategies versus opportunistic approaches, emphasizing the need for balance in the face of industry challenges [20] - Participants highlighted the importance of adhering to long-term visions while adapting to market changes, with a focus on quality and innovation [22] Future Directions - The forum concluded with a call for collaboration and consensus among industry players to address challenges and seize opportunities, particularly in the context of new national standards and market dynamics [38] - The motorcycle industry is expected to continue evolving with a focus on electric and smart technologies, driven by changing consumer preferences and regulatory frameworks [38]

证券代码：001696 证券简称：宗申动力 公告编号：2025-54 届时，公司相关高级管理人员将参加本次活动，并通过上述平台与投资者进行"一对多"形式的在线沟通 与交流，回答投资者关心的问题。欢迎广大投资者踊跃参与。 特此公告。 重庆宗申动力机械股份有限公司 董事会 2025年9月18日 重庆宗申动力机械股份有限公司 关于参加重庆辖区上市公司2025年投资者网上集体接待日 暨半年度业绩说明会活动的公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、误导性陈述或者重大遗 漏。 为进一步提高上市公司投资者关系管理水平，促进公司完善公司治理，助力上市公司高质量发展，在重 庆证监局指导下，重庆上市公司协会联合深圳市全景网络有限公司举办重庆辖区上市公司 2025 年投资 者网上集体接待日暨半年度业绩说明会。本次活动将于2025年9月25日（星期四）下午15:00-17:00举 行，投资者可以登录全景路演互动平台（https://rs.p5w.net）参与交流。 ...