Investment Rating - The report maintains an "Outperform the Market" rating for the company [6][4]. Core Insights - The company achieved a net profit of 279 million yuan in Q2 2025, representing a year-on-year growth of 73% [1][9]. - For the first half of 2025, the company reported revenues 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 [1][9]. - The company is actively expanding into the low-altitude economy, focusing on aviation power, new energy, and high-end components as strategic emerging fields [3][58]. Financial Performance - In Q2 2025, the company achieved a revenue of 3.450 billion yuan, a year-on-year increase of 39% and a quarter-on-quarter increase of 6.4% [1][9]. - The gross profit margin for Q2 2025 was 15.6%, a decrease of 0.7 percentage points year-on-year but an increase of 1.9 percentage points quarter-on-quarter [2][11]. - The net profit margin improved by 1.2 percentage points year-on-year to 8.2% in Q2 2025 [2][11]. Business Segments - The company's general machinery segment generated 3.644 billion yuan in revenue in H1 2025, a year-on-year increase of 73.09% [1][9]. - The motorcycle engine segment reported revenue of 2.324 billion yuan in H1 2025, a year-on-year increase of 14.23% [1][9]. - The aviation power segment has developed a product line focused on small and medium-sized aviation piston engines, with over 20 derivative products launched [3][39]. Future Projections - The company has revised its revenue forecasts for 2025-2027 to 13.41 billion, 16.13 billion, and 18.73 billion yuan, respectively, reflecting an increase from previous estimates [4][58]. - The projected net profits for the same period are 1.007 billion, 1.187 billion, and 1.369 billion yuan, respectively, also revised upwards [4][58]. Strategic Focus - The company is committed to enhancing its core business in general machinery and motorcycle engines while expanding into new fields such as aviation power and new energy [58][56]. - The company aims to leverage its strong order book and continuous growth in its core businesses to drive future performance [4][58].

证券代码：001696 证券简称：宗申动力 公告编号：2025-54 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。 2025 年 9 月 18 日 1 / 1 特此公告。 重庆宗申动力机械股份有限公司 董事会 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。 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。 ...

Investment Rating - The report maintains a "Buy" rating for the company, with an expected relative increase in stock price of over 20% within the next six months [6][11]. Core Insights - The company reported a strong performance in the first half of 2025, achieving a revenue of 6.693 billion yuan, a year-on-year increase of 39.05%, and a net profit attributable to shareholders of 506 million yuan, up 79.37% year-on-year [4][5]. - The second quarter of 2025 marked a historical high in quarterly performance, with revenue reaching 3.450 billion yuan, a 39.00% increase year-on-year, and a net profit of 279 million yuan, reflecting a 72.74% year-on-year growth [4][5]. - The company is focusing on its core business while also expanding into emerging sectors such as aerospace power, new energy, and high-end components, aiming to cultivate a second growth curve [5][6]. Financial Performance - In the first half of 2025, the company's revenue from general power products was 3.644 billion yuan, up 73.09% year-on-year, while motorcycle products generated 2.324 billion yuan, a 14.23% increase [5]. - The company maintained a gross margin of 14.18% and a net margin of 7.68%, with a slight improvement in net profit margin by 1.37 percentage points year-on-year [5]. - The financial forecast for 2025-2027 estimates revenues of 13.965 billion yuan, 16.258 billion yuan, and 18.773 billion yuan, with corresponding net profits of 900 million yuan, 1.033 billion yuan, and 1.198 billion yuan, indicating significant growth [6][9].

Core Viewpoint - Zongshen Power announced the appointment of Mr. Liu Yuanhong as the Chief Financial Officer [2] Company Summary - The company has made a significant leadership change by hiring a new CFO, which may impact its financial strategy and operations moving forward [2]

Group 1 - The company announced the appointment of Mr. Huang Peiguo as the General Manager on the evening of September 10 [2]

Core Points - Zongshen Power announced the appointment of Mr. Lin Yi as the secretary of the board of directors on the evening of September 10 [2] Company Summary - The company has made a significant leadership change by appointing a new board secretary, which may impact its governance and strategic direction [2]

Group 1 - The company Zongshen Power announced the appointment of several new deputy general managers, including Mr. Guo Qiang, Mr. Liu Yuanhong, Mr. Zhou Jiaping, Mr. Deng Wei, Mr. Peng Ke, and Mr. Lin Yi [2]

Group 1 - The company announced the convening of its first extraordinary general meeting of shareholders for 2025 on September 10, 2025, to elect 5 non-independent directors and 3 independent directors for its 12th board of directors, along with 1 employee director elected by the employee representative assembly [1] - The first meeting of the 12th board of directors approved the election of the chairman and the appointment of senior management personnel [1] - The 12th board of directors consists of 9 directors with a term of three years, with the new general manager being Huang Peiguo and the deputy general managers including Guo Qiang, Liu Yuanhong, Zhou Jiaping, Deng Wei, and Peng Ke, while Liu Yuanhong serves as the financial director and Lin Yi as the board secretary [1]

证券代码：001696 证券简称：宗申动力 公告编号：2025-53 重庆宗申动力机械股份有限公司 关于董事会完成换届选举及聘任高级管理人员的公告 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。 重庆宗申动力机械股份有限公司（简称"公司"）于 2025 年 9 月 10 日召开 2025 年第一次临时股东大会，选举产生公司第十二届董事会非独立董事 5 名、独 立董事 3 名，与公司职工代表大会选举产生的 1 名职工董事共同组成公司第十二 届董事会；同日，第十二届董事会第一次会议审议通过了《关于选举公司第十二 届董事会董事长的议案》《关于选举公司第十二届董事会专门委员会委员的议案》 《关于聘任公司高级管理人员的议案》《关于聘任公司董事会秘书的议案》。现 将具体情况公告如下： 一、公司第十二届董事会及专门委员会组成情况 （一）董事会组成情况 董事长：左宗申先生 非独立董事：胡显源先生、李耀先生、黄培国先生、郭强先生（职工董事）、 王大英女士 独立董事：易继明先生、郑亚光先生、贾滨先生 公司第十二届董事会由上述 9 名董事组成，任期三年，自公司 2025 年第一次 ...

证券代码：001696 证券简称：宗申动力 公告编号：2025-51 2025 年第一次临时股东大会决议公告 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。 特别提示： 1．本次股东大会没有增加、否决或变更提案； 2．本次股东大会不涉及变更以往股东大会已通过的决议。 一、会议的召开和出席情况 重庆宗申动力机械股份有限公司 1．召开时间：2025 年 9 月 10 日（星期三） 现场会议召开时间：2025 年 9 月 10 日（星期三）下午 14:30； 网络投票时间：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 9 月 10 日上午 9:15-9:25,9:30-11:30，下午 13:00-15:00； 通过深圳证券交易所互联网投票系统投票的开始时间（2025 年 9 月 10 日上 午 9:15）至投票结束时间（2025 年 9 月 10 日下午 15:00）的任意时间。 2．召开地点：宗申工业园办公大楼一楼会议室 3．召集人：公司董事会 8．出席本次会议的还有公司董事、监事、高级管理人员及公司聘请的律师 等。 6．会议的召开符合《公司法》 ...