证券代码：001696 证券简称：宗申动力 公告编号：2024-63 重庆宗申动力机械股份有限公司 第十一届董事会第十八次会议决议公告 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 2024 年 12 月 5 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 公司第十一届董事会第十八次会议于 2024 年 12 月 10 日在宗申工业园办公 大楼一楼会议室以现场与通讯表决相结合的方式召开。 2．以六票同意，零票反对，零票弃权，审议通过《关于公司 2025 年度日 常关联交易预计情况的议案》，三名关联董事左宗申先生、胡显源先生和李耀 1 / 2 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《2025 年度日常关联交 易预计公告》。 3．以九票同意，零票反对，零票弃权，审议通过《关于召开 2024 年第二 次临时股 ...

独立董事 2024 年第三次专门会议决议 重庆宗申动力机械股份有限公司 独立董事 2024 年第三次专门会议决议 根据《上市公司独立董事管理办法》《公司独立董事专门会议实施细则》等有关规定， 重庆宗申动力机械股份有限公司（简称"公司"）于 2024 年 11 月 28 日以专人送达、传真 或电子邮件方式发出召开独立董事 2024 年第三次专门会议通知，并于 2024 年 12 月 5 日以 通讯表决方式召开。 会议应出席独立董事 3 名，实际出席会议独立董事 3 名，独立董事任晓常先生、柴振 海先生和郑亚光先生亲自出席本次会议。与会独立董事共同推举郑亚光先生为本次独立董 事专门会议的召集人和主持人，公司部分高级管理人员列席会议。会议召开程序符合有关 法律法规、规范性文件和《公司章程》等规定。本次独立董事专门会议审议并通过如下议 案： 一、以三票同意，零票反对，零票弃权，审议通过《关于调整 2024 年度日常关联交易 预计的议案》； 我们认为本次公司调整 2024 年度日常关联交易预计，是基于 2024 年度市场变化情况， 为使公司抓住市场机会，确保公司相关交易合规持续进行，维护公司利益而作出的，符合 公司实际 ...

证券代码：001696 证券简称：宗申动力 公告编号：2024- 2．公司于 2024 年 12 月 10 日召开第十一届董事会第十八次会议，审议通过 了《关于公司 2025 年度日常关联交易预计情况的议案》。在董事会表决时，三名 关联董事左宗申先生、胡显源先生和李耀先生依法回避表决，其余六名非关联董 事一致表决通过，董事会在审议本议案前已得到全体独立董事同意，并通过独立 董事专门会议审议，独立董事对该事项发表了独立审核意见，符合《深圳证券交 易所股票上市规则》《深圳证券交易所上市公司自律监管指引第 7 号——交易与 关联交易》等有关规定。 3．上述议案尚需提交公司 2024 年第二次临时股东大会审议，与该关联交易 有利害关系的关联人将回避表决。上述关联交易不构成《上市公司重大资产重组 管理办法》规定的重大资产重组，无需经过有关部门批准。 （二）预计日常关联交易类别和金额 66 重庆宗申动力机械股份有限公司 2025 年度日常关联交易预计公告 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。 一、日常关联交易基本情况 （一）关联交易概述 1．重庆宗申动力机械股份有限 ...

证券代码：001696 证券简称：宗申动力 公告编号：2024-64 重庆宗申动力机械股份有限公司 第十一届监事会第十二次会议决议公告 本公司及监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、监事会会议召开情况 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"）监事会于 2024 年 12 月 5 日向全体监事以专人送达或邮件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 公司第十一届监事会第十二次会议于 2024 年 12 月 10 日在宗申工业园办公 大楼一楼会议室以现场表决的方式召开。 3．监事出席会议情况 经会议逐项审议并表决，作出如下决议： 1．以七票同意，零票反对，零票弃权，审议通过《关于调整 2024 年度日 常关联交易预计的议案》； 详见同日刊登在指定媒体和网站的《关于调整 2024 年度日常关联交易预计 的公告》。 2．以七票同意，零票反对，零票弃权，审议通过《关于公司 2025 年度日 常关联交易预计情况的议案》。 详见同日刊登在指定媒体和网站的《2025 年度日常关联交易预计公告》。 以上第 1、2 项议案需提交公司 ...

Group 1: Company Overview and Shareholding - Chongqing Zongshen Power Machinery Co., Ltd. holds a 52.4746% stake in Zongshen Aviation, which is involved in the development of aviation engines [3] - The company has a 15.61% shareholding in Meixin Yishen, focusing on precision mechanical components [2] Group 2: Financial Performance - In Q3 2024, the company's operating cash flow net amount increased by 16.37% compared to the same period last year, primarily due to increased sales scale [3] - The company emphasizes cash flow management to maintain sufficient operating funds for stable financial policies [3] Group 3: Business Development and Strategy - Zongshen Aviation is actively expanding its product line and market share in the low-altitude economy sector, providing power system solutions for general aviation and unmanned aerial vehicles [4][7] - The company is transitioning towards becoming a digital, technological, and intelligent integrated service provider for power systems [4] Group 4: Product and Technology Focus - The company has developed a product system for new energy, including electric drive systems, energy storage, and hydrogen fuel cell systems [5][6] - Zongshen Aviation has launched over 20 derivative products and propeller products, covering the UAV and light general aviation markets [5][6] Group 5: Market Expansion and International Presence - The company has manufacturing bases in Vietnam and Mexico, exporting products to various regions including Europe, the Middle East, and Southeast Asia [6] - Zongshen Power is focused on expanding its overseas business layout, particularly in the low-altitude economy sector [6] Group 6: Governance and Risk Management - The company is committed to enhancing corporate governance and protecting shareholder rights, especially in light of potential competition from its major shareholder [4][8] - The company is monitoring high levels of share pledges by major shareholders to mitigate operational risks [8]

Summary of Conference Call Notes Industry Overview - The discussion primarily revolves around the **low-altitude economy** and its strategic importance in the current economic landscape, particularly in China. The low-altitude economy is being recognized as a strategic industry following its elevation in the Central Economic Conference in December last year [3][4]. Key Points and Arguments 1. **Low-Altitude Economy Development**: The first national transfer of low-altitude economic operating rights is highlighted, with a contract period of 30 years and a funding amount of **99.2 billion** [1]. 2. **Investment Interest**: There is a noted disparity in investment interest between Chinese and American investors in the low-altitude sector, with the latter showing less enthusiasm [2]. 3. **Market Performance**: The stock performance of companies in the low-altitude economy has seen significant increases, particularly noted in November, with substantial trading volume growth [3]. 4. **Future Market Phases**: The low-altitude economy is expected to enter a third phase of market development, with significant opportunities anticipated in the radar and aviation sectors [4][21]. 5. **Company Performance**: A specific company, **Zhongshan Aviation**, is mentioned as a leading manufacturer in motorcycle engines and communication machinery, with core business segments contributing **47%** each to revenue [6][8]. 6. **Export Growth**: The export of motorcycles, particularly those over 250cc, has seen a **50%** increase, indicating strong international demand [13]. 7. **Market Penetration**: The penetration rate for large-displacement motorcycles is still low, with potential for growth as consumer demand increases [12]. 8. **Strategic Acquisitions**: The acquisition of **Longxing General** is discussed, which is expected to create synergies and enhance market share in the motorcycle engine sector [18][20]. Additional Important Insights - **Technological Advancements**: The low-altitude economy is expected to benefit from advancements in radar technology and the development of unmanned aerial vehicles (UAVs) for various applications, including environmental monitoring and delivery services [9][10]. - **Military Applications**: The military drone market is also highlighted, with a focus on high-performance, low-cost drones that can be mass-produced [10]. - **Consumer Behavior**: The average consumption of large-displacement motorcycles in China is significantly lower than in Western countries, suggesting room for market expansion [12]. - **Investment Recommendations**: Analysts suggest focusing on companies involved in engine supply and radar technology as key areas for investment in the upcoming phases of the low-altitude economy [21]. This summary encapsulates the critical insights and data points from the conference call, providing a comprehensive overview of the low-altitude economy and its associated companies.

证券代码：001696 证券简称：宗申动力 公告编号：2024-62 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 ...

Investment Rating - The report gives a "Recommend" rating for Zongshen Power (001696) with a current price of 27.62 yuan [2] Core Views - Zongshen Power is positioned as a key player in the low-altitude economy, with three main growth drivers: Zongshen Aero Engine, Zongshen Motorcycle Engine, and Zongshen General Machinery [2][8] - The company is expected to benefit from the booming low-altitude economy, especially in the drone and light general aviation markets [8][9] - The acquisition of Longxin General Machinery is seen as a strategic move to enhance synergies and strengthen market competitiveness [9][113] Business Segments Summary Zongshen Aero Engine - Focuses on small and medium-sized aviation piston engines, covering the drone and light general aviation markets [2][8] - In H1 2024, revenue reached 100 million yuan, up 127% YoY, with a profit of 17.11 million yuan, compared to a loss of 10.73 million yuan in H1 2023 [2][50] - The company is accelerating airworthiness certification and hybrid engine R&D, with products already used in drones like Rainbow and Wing Loong [2][49] - Plans to spin off the aero engine business for an IPO to unlock value [9][63] Zongshen Motorcycle Engine - A leading domestic motorcycle engine manufacturer with over 30 years of experience [67][68] - In 2023, sales reached 2.52 million units, up 12.98% YoY, with revenue of 3.36 billion yuan, accounting for 41% of total revenue [30][31] - The company is benefiting from the domestic demand for large-displacement motorcycles, with a CAGR of 24.28% for 250CC+ motorcycles over the past five years [9][84] - Exports are growing, with 831,680 units exported in 2023, up 8.79% YoY, including 198,000 units of 250CC+ motorcycles, up 54.90% YoY [9][92] Zongshen General Machinery - The company is moving up the value chain in general machinery, with single-unit revenue increasing from 677 yuan in 2014 to 1,097 yuan in 2023, a CAGR of 5.5% [9][101] - In H1 2024, sales reached 2.23 million units, up 25.14% YoY, driven by traditional product sales and new drone generator business [99][101] - Compared to Honda, Zongshen's general machinery revenue is only 15% of Honda's, with significant room for growth in both volume and price [107] Acquisition of Longxin General Machinery - Zongshen New Manufacturing plans to acquire 24.5513% of Longxin General Machinery for 3.346 billion yuan, becoming the controlling shareholder [111][112] - The acquisition is expected to create synergies in motorcycle and general machinery businesses, with Longxin producing 93% of Zongshen's motorcycle engines and 86% of general machinery products in 2023 [113][114] - The integration is seen as a strategic move to enhance market position and competitiveness in both domestic and export markets [114]

Group 1: Event Details - The event will take place on November 28, 2024, from 15:00 to 17:00 [1] - Investors can participate through the P5W interactive platform [1] Group 2: Company Participation - Senior management of Chongqing Zongshen Power Machinery Co., Ltd. will attend the event [1] - The format will be "one-to-many" online communication, allowing management to address investor concerns [1] Group 3: Purpose and Goals - The event aims to enhance communication between listed companies and investors [1] - It is part of efforts to improve investor relations management under the guidance of the Chongqing Securities Regulatory Bureau [1]

Group 1: Company Overview and Strategic Direction - Chongqing Zongshen Power Machinery Co., Ltd. focuses on becoming a leading provider of small and medium-sized aviation power systems, with a product line centered on small aviation piston engines and over 20 derivative products [2][4][10] - The company aims to enhance its product portfolio and expand its domestic and international markets, particularly in the low-altitude economy sector [3][4][10] Group 2: Financial Performance - In the first three quarters of 2024, Zongshen Aviation achieved revenue and net profit growth, indicating a positive financial trajectory [10] - The company emphasizes steady growth in performance through increased R&D investment and resource allocation [10] Group 3: Product Development and Innovation - Zongshen Aviation is actively working on the airworthiness certification of two engine models in collaboration with Shanhe Intelligent [2] - The company is investing in hydrogen energy technologies, focusing on fuel cell systems and their applications in various scenarios [5][7] Group 4: Market Position and Competitiveness - Zongshen Aviation's products are utilized in various unmanned aerial vehicles, including the Rainbow and Wing Loong drones, showcasing its competitive edge in the aviation sector [2][4] - The company is committed to addressing industry competition and enhancing shareholder value through compliance and strategic management [3][10] Group 5: Future Plans and Challenges - The company plans to increase its investment in R&D and resources to further develop its product lines and market share [4][10] - Zongshen Aviation is monitoring market conditions to determine potential stock repurchase or acquisition strategies [11]