宗申动力（001696）公告，2025年第一季度预计归属于上市公司股东的净利润为2.04亿元–2.4亿元，比 上年同期的1.2亿元增长70%–100%。扣除非经常性损益后的净利润预计为2亿元–2.36亿元，比上年同期 的1.18亿元增长70%–100%。基本每股收益预计为0.1785元/股–0.21元/股，上年同期为0.105元/股。公司 业绩增长主要由于通用机械业务和摩托车发动机业务规模增长，以及投资联营企业收益提升。 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：001696 证券简称：宗申动力 公告编号：2025-24 重庆宗申动力机械股份有限公司 重庆宗申动力机械股份有限公司（简称"公司"）第十一届董事会第十九次会议决定于2025年4月21日召 开2024年年度股东大会，本次股东大会采取现场投票与网络投票相结合的方式召开。根据《上市公司股 东会规则》《公司章程》等规定，现发布关于召开2024年年度股东大会的提示性公告如下： 一、召开会议的基本情况 关于召开2024年年度股东大会的提示性公告 （2）网络投票时间： 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。 通过深圳证券交易所交易系统进行网络投票的时间为2025年4月21日上午9:15-9:25，9:30-11:30，下午 13:00-15:00； 1．股东大会届次：2024年年度股东大会 2．股东大会的召集人：重庆宗申动力机械股份有限公司董事会。公司于2025年3月28日以现场表决的方 式召开第十一届董事会第十九次会议，审议通过了《关于召开2024年年度股东大会的议案》，同意召开 本次股东大会，对相关事 ...

证券代码：001696 证券简称：宗申动力 公告编号：2025-24 关于召开 2024 年年度股东大会的提示性公告 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。 重庆宗申动力机械股份有限公司（简称"公司"）第十一届董事会第十九次 会议决定于 2025 年 4 月 21 日召开 2024 年年度股东大会，本次股东大会采取现 场投票与网络投票相结合的方式召开。根据《上市公司股东会规则》《公司章程》 等规定，现发布关于召开 2024 年年度股东大会的提示性公告如下： 一、召开会议的基本情况 1．股东大会届次：2024 年年度股东大会 2．股东大会的召集人：重庆宗申动力机械股份有限公司董事会。公司于 2025 年 3 月 28 日以现场表决的方式召开第十一届董事会第十九次会议，审议通过了 《关于召开 2024 年年度股东大会的议案》，同意召开本次股东大会，对相关事 项进行审议。 3．会议召开的合法、合规性：本次股东大会召开符合有关法律、行政法规、 部门规章、规范性文件和《公司章程》的规定。 4．会议召开的日期、时间： （1）现场会议召开日期、时间：2025 年 4 ...

证券代码：001696 证券简称：宗申动力 公告编号：2025-23 重庆宗申动力机械股份有限公司 关于参加深圳证券交易所"成长新启航·民企百舸竞中流" 二、投资者问题征集方式 为充分尊重投资者、提升交流的针对性，现就本次业绩说明会提前向投资者 公开征集问题，广泛听取投资者的意见和建议。投资者可提前登陆深交所"互动 易"平台（http://irm.cninfo.com.cn）"云访谈"栏目进入本次业绩说明会页 面，或扫描二维码（附后）进入问题征集专题页面进行提问。公司将在本次业绩 说明会上对投资者普遍关注的问题进行回答。 1 / 2 1．召开时间：2025年4月18日（星期五）15:00－17:00 2．召开地点：深圳证券交易所西部基地（成都） 3．召开方式：视频直播与图文转播 4．公司出席人员：公司副总经理、董事会秘书林艺先生 欢迎广大投资者积极参与本次业绩说明会。 特此公告。 重庆宗申动力机械股份有限公司 2024 年度集体业绩说明会的公告 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。 重庆宗申动力机械股份有限公司（简称"公司"）将于2025年4月18日（ ...

通用设备 分析师：刘智 登记编码：S0730520110001 liuzhi@ccnew.com 021-50586775 传统主业巩固优势，新能源、低空经济业 务蓄势待发 ——宗申动力(001696)2024 年报点评 证券研究报告-年报点评 增持(首次) 市场数据(2025-04-09) | 收盘价(元) | 18.42 | | --- | --- | | 一年内最高/最低(元) | 33.67/7.95 | | 沪深 300 指数 | 3,686.79 | | 市净率(倍) | 4.23 | | 流通市值(亿元) | 164.18 | 基础数据(2024-12-31) | 每股净资产(元) | 4.36 | | --- | --- | | 每股经营现金流(元) | 0.28 | | 毛利率(%) | 13.58 | | 净资产收益率_摊薄(%) | 9.25 | | 资产负债率(%) | 54.80 | | 总股本/流通股(万股) | 114,502.69/89,133.97 | | B 股/H 股(万股) | 0.00/0.00 | 个股相对沪深 300 指数表现 资料来源：中原证券研究所，聚源 相关 ...

市场数据(2025-04-09) 通用设备 | 每股净资产(元) | 4.36 | | --- | --- | | 每股经营现金流(元) | 0.28 | | 毛利率(%) | 13.58 | | 净资产收益率_摊薄(%) | 9.25 | | 资产负债率(%) | 54.80 | | 总股本/流通股(万股) | 114,502.69/89,133.97 | | B 股/H 股(万股) | 0.00/0.00 | 分析师：刘智 登记编码：S0730520110001 liuzhi@ccnew.com 021-50586775 传统主业巩固优势，新能源、低空经济业 务蓄势待发 ——宗申动力(001696)2024 年报点评 个股相对沪深 300 指数表现 基础数据(2024-12-31) 证券研究报告-年报点评 增持(首次) | 收盘价(元) | 18.42 | | --- | --- | | 一年内最高/最低(元) | 33.67/7.95 | | 沪深 300 指数 | 3,686.79 | | 市净率(倍) | 4.23 | | 流通市值(亿元) | 164.18 | | | | 投资要点： 宗申动力于 ...

Business Overview - The company focuses on becoming a leading provider of small and medium-sized aviation power systems in China, emphasizing independent innovation in domestic aviation power technology [1][4] - The company aims to strengthen its technology and product iteration in the aviation engine sector to support the development of China's low-altitude economy [1][4] New Energy Sector - The new energy industry is experiencing historic growth opportunities, with the electric vehicle market projected to reach a trillion-level market [2] - The company is advancing its research and development in new energy power systems, including electric drive systems and hydrogen fuel cells, while also developing comprehensive energy storage solutions [2][6] Motorcycle Engine Business - The company plans to expand its high-displacement product matrix and has 11 new product projects scheduled for 2024, focusing on breakthroughs in hydrogen fuel engines and hybrid technologies [3] - The company is enhancing its overseas market presence, particularly in the "Belt and Road" initiative, while digitalizing its supply chain and brand channels [3] Financial Performance - In 2024, the company achieved total revenue of CNY 10.506 billion, a year-on-year increase of 28.89%, and a net profit of CNY 461 million, up 27.45% from the previous year [10][14] - The company is implementing strategies to optimize its existing fuel power business while rapidly scaling its new energy business to create a second growth curve [13] Challenges and Strategies - The company faces challenges from raw material price fluctuations, which have impacted its gross margin; it plans to enhance cost control and product mix to maintain competitiveness [17] - The company exports approximately 10% of its revenue directly to the U.S., and it is actively monitoring tariff changes to adjust its production and operational strategies accordingly [18][21] Investor Relations and Market Confidence - The company emphasizes regular communication with investors through various channels to enhance understanding and confidence in its business and development strategies [22] - The management is committed to maintaining a high cash dividend ratio to enhance shareholder returns and is considering share buyback plans based on market conditions [26][28]

宗申动力：美国市场营收占比约10% 宗申航发被列入SDN清单影响整体可控 智通财经4月8日电，宗申动力总经理黄培国在今日下午举行的公司2024年度业绩说明会上表示，2024年 公司外销占比为48.01%，直接来自美国市场的营收占比在10%左右。除美国外，公司产品还出口欧洲、 中东、东南亚和非洲等多个国家和地区。对于本次美国加征关税，公司保持高度关注，目前生产经营秩 序正常。后续公司将持续关注关税政策变化，灵活快速调整生产和经营策略，以应对外部环境变化。控 股子公司宗申航发被列入SDN清单对公司生产经营影响整体可控。（智通财经记者 汪斌） ...

Summary of Conference Call for Zongshen Power Industry Overview - The conference call primarily discusses the impact of increased tariffs on the general machinery industry, particularly focusing on Zongshen Power's operations in the North American market [3][4][9]. Key Points and Arguments - **Tariff Impact**: The U.S. has imposed tariffs as high as 79% on Chinese general machinery products. Zongshen Power had anticipated this and preemptively shifted some production capacity to Vietnam. However, Vietnam also faces a potential increase in tariffs from 16% to 46%, which is still lower than China's [3][4]. - **Client Relationships**: Zongshen Power exports mainly through OEM (Original Equipment Manufacturer) and private label arrangements, serving major brands like Waiting House, POS systems, and Ford. These clients have strong bargaining power and can pass on increased costs to consumers [5][11]. - **Market Demand**: General machinery products, such as lawnmowers and backup generators, are considered essential consumer goods in the U.S. market. Demand remains stable due to factors like unstable power grids and the need for emergency equipment [8][9]. - **Manufacturing Competitiveness**: Despite the tariff increases, China remains the largest base for general machinery production globally. Other countries cannot quickly match China's scale and cost control capabilities, ensuring that the market structure remains largely unchanged [9][10]. - **Pricing Sensitivity**: The end-user prices for Zongshen Power's products range from $300 to $500, with power products nearing $1,000. Consumers show low price sensitivity due to the long replacement cycles and the essential nature of these products [10][11]. - **Cost Transmission**: The company cannot absorb the full impact of increased tariffs (estimated at 30% to 40%), leading to a necessity to pass costs onto customers and ultimately consumers. This will affect short-term market consumption but is not expected to undermine long-term competitiveness [11]. - **Future Outlook**: Zongshen Power expresses confidence in its future development, particularly in the drone sector, which is expected to grow due to global military competition. The company believes that its stable domestic operations will support its competitive position [12]. Additional Important Insights - **Negotiation Efforts**: The Vietnamese government is actively negotiating with the U.S. to lower tariffs, which could provide a competitive edge for Zongshen Power's operations in Vietnam [3][6]. - **Market Structure Stability**: The overall competitive environment is expected to remain stable, as even international brands producing in China will face similar tariff impacts [9]. This summary encapsulates the critical insights from the conference call, highlighting the challenges and strategies of Zongshen Power in the context of increased tariffs and market dynamics.

Investment Rating - The report maintains a "Recommended" investment rating for the company, indicating an expectation to outperform the benchmark index by 10%-20% over the next six months [1][6]. Core Insights - In 2024, the company achieved a total revenue of 10.506 billion, representing a year-on-year growth of 28.89%. The net profit attributable to shareholders was 461 million, with a year-on-year increase of 27.45% [6][2]. - The company is experiencing strong growth in emerging businesses, particularly in the aviation and new energy sectors, which are expected to drive future revenue [6][2]. - The report highlights a positive outlook for the company's value chain enhancement, driven by three key business segments: aviation power systems, motorcycle engines, and general machinery [6][2]. Financial Performance Summary - **Revenue and Profitability**: - Total revenue for 2024 is projected at 10.506 billion, with a growth rate of 28.9% for 2025 and 11.7% for 2026 [2][7]. - Net profit for 2024 is estimated at 461 million, with a forecasted increase to 630 million in 2025 and 725 million in 2026, reflecting growth rates of 36.6% and 15.0% respectively [2][7]. - **Earnings Per Share (EPS)**: - EPS is expected to rise from 0.40 in 2024 to 0.55 in 2025 and 0.63 in 2026, with a corresponding decrease in price-to-earnings (P/E) ratio from 53 to 39 and then to 34 [2][7]. - **Dividends**: - The company plans to distribute a cash dividend of 2.00 per 10 shares, totaling 229 million, which represents a payout ratio of 49.64% [6][2]. Business Segment Performance - **General Machinery**: - Sales of general power and terminal products reached 483,450 units, with revenue of 5.22 billion, marking a year-on-year increase of 35.4% [6][2]. - **Motorcycle Engine Business**: - The motorcycle engine segment sold 298,520 units, generating revenue of 3.82 billion, reflecting a year-on-year growth of 13.8% [6][2]. - **Emerging Businesses**: - The aviation power segment reported revenue of 1.6 billion, a significant increase of 71.74%, while the new energy business achieved 5.79 billion in revenue, up 334.84% [6][2].