| 证券代码：002126 | 证券简称：银轮股份 | 公告编号：2026-002 | | --- | --- | --- | | 债券代码：127037 | 债券简称：银轮转债 | | 浙江银轮机械股份有限公司 关于第二期员工持股计划出售完毕暨终止的公告 本公司及董事会全体成员保证信息披露内容真实、准确和完整，没有虚假记载、 误导性陈述或重大遗漏。 浙江银轮机械股份有限公司（以下简称"公司"）第二期员工持股计划所持公司股 票已全部出售完毕，根据中国证监会《关于上市公司实施员工持股计划试点的指导意见》 《深圳证券交易所上市公司自律监管指引第 1 号—主板上市公司规范运作》及《公司第 二期员工持股计划（草案）》等相关规定，现将相关情况公告如下： 一、第二期员工持股计划的基本情况 2020 年 12 月 21 日召开的第八届董事会第四次会议及 2021 年 1 月 7 日召开的 2021 年第一次临时股东大会审议通过了《公司第二期员工持股计划（草案）及摘要》《公司 第二期员工持股计划管理办法》及相关事项的议案。相关具体内容详见公司于 2020 年 12 月 23 日、2021 年 1 月 8 日刊登在《上海证券报 ...

Core Insights - The report highlights that the Chinese automotive industry is entering the mid-to-late stage of the electric and intelligent transformation, characterized by the coexistence of traditional fuel vehicles, electric intelligent vehicles, and future industries represented by autonomous driving. This necessitates a layered and structured investment approach based on the different stages of these industry curves [2][3]. Trend Summaries Trend 1: Scrap Gap Provides Long-term Space, Trade-in Policies Expected to Normalize - The Chinese automotive market has stabilized at an annual sales level of 31 million units, with a substantial vehicle ownership base of 350 million units, laying the groundwork for future updates. The annual scrappage volume is still significantly lower than new car sales, leading to an expanding replacement gap. The "trade-in" policy is expected to evolve from a temporary stimulus to a normalized tool, enhancing the precision of policies to support domestic demand and industrial production [2][13][27]. Trend 2: New Forces Drive China's Automotive Exports to a New Structural Upgrade Stage - China's automotive exports have entered a high-growth phase, achieving several-fold growth over four years. The export structure has undergone profound changes, with a significant increase in the penetration of new energy vehicles. New force car manufacturers are enhancing China's brand premium and technological image in the global market through high-value product exports [2][30][34]. Trend 3: "Mass Market Pure Electric + High-end Range Extender" Trend Continues to Deepen - With the penetration rate of new energy vehicles surpassing 50%, market demand is showing structural differentiation. In the mass market under 200,000 yuan, the 800V high-voltage platform significantly improves charging efficiency, driving pure electric growth to outpace plug-in hybrids and range extenders. In the high-end market above 300,000 yuan, the "large battery long-range range extender" remains the mainstream solution for full-size SUVs/MPVs [2][3]. Trend 4: The "Late Mass Market" Phase Will Continue to Strengthen the Matthew Effect - The industry is transitioning from the "early mass market" to the "late mass market" phase, where consumers prioritize brand endorsement, after-sales support, and residual value certainty. This pragmatic user base favors mature brands and ecosystem capabilities, leading to a concentration of market resources towards leading technology firms [2][3]. Trend 5: Focus on State-owned Enterprises for Opportunities Around "Certainty + Cost-effectiveness" - Regulatory bodies are intensifying the separate assessment and market value management of state-owned enterprises' new energy businesses, driving resources towards electric intelligence. Major automotive groups are restructuring to shorten development cycles, accelerating the integration of intelligent configurations into mainstream price segments [2][3]. Trend 6: Growth of New Energy Heavy and Light Trucks Enters Acceleration Phase - The electrification of commercial vehicles has crossed a critical point, entering a self-driven growth phase. The total cost of ownership (TCO) for heavy trucks has dropped to a recovery period of 1.5-2 years, accelerating the replacement of fuel vehicles. The light truck sector is also maturing, with urban delivery electrification fully established [3][6]. Trend 7: High-perception Intelligent Cockpit Configurations Will Reshape Purchase Decisions - Intelligent cockpits have become a default configuration in new energy vehicles, with the importance of intelligent features in purchase decisions rising to the forefront. Consumers are focusing on visual and perceptible components, making HUDs, large LCD screens, and intelligent seating core differentiation battlegrounds [3][6]. Trend 8: Intelligent Driving Accelerates Along "End-to-End" and "Equal Rights" Paths - The intelligent driving architecture is transitioning to an "end-to-end" model, enhancing efficiency across the perception and decision-making chain. The continued acceleration of L3 policies provides opportunities for leading manufacturers to compete and iterate rapidly in high-level intelligent driving [3][6]. Trend 9: Three Major Autonomous Driving Commercialization Scenarios Approaching Explosive Growth - Robotaxi, mining autonomous driving, and unmanned logistics vehicles are moving from pilot projects to mass production. The cost advantages of unmanned logistics vehicles are becoming increasingly evident, with sales curves showing signs of exponential growth [3][6]. Trend 10: Embodied Intelligence Enters Pre-production Phase, Releasing a Second Growth Curve for the Automotive Manufacturing Industry - Humanoid robots are transitioning from hardware-driven to intelligent dual-core driven, with the automotive supply chain naturally adapting to this field. The synergy between embodied intelligence and the automotive industry is expected to create dual dividends in performance and valuation [3][6].

| 证券代码：002126 | 证券简称：银轮股份 | 公告编号：2026-001 | | --- | --- | --- | | 债券代码：127037 | 债券简称：银轮转债 | | 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： 浙江银轮机械股份有限公司 关于2025年第四季度可转换公司债券转股情况的公告 股票代码：002126 股票简称：银轮股份 可转债代码：127037 可转债简称：银轮转债 转股价格：人民币 10.39 元/股 转股期限：2021 年 12 月 13 日至 2027 年 6 月 6 日（因 2027 年 6 月 6 日为非交易 日，实际转股截止日期为 2027 年 6 月 4 日） 一、可转换公司债券发行上市情况 1. 可转换公司债券的发行情况 经中国证券监督管理委员会"证监许可〔2021〕672 号"文核准，浙江银轮机械股份 有限公司（以下简称"公司"）于 2021 年 6 月 7 日公开发行了 700 万张可转换公司债券， 每张面值人民币 100 元，发行总额人民币 7 亿元。发行方式采用向公司原股东优先配售， 原股 ...

Group 1 - The SW auto parts index increased by 2.91% this week, ranking first in the SW automotive sector, with a year-to-date increase of 42.58% since the beginning of 2025 [2][3] - The latest trading day PE (TTM) for the SW auto parts index is at the 79.44% historical percentile, while the PB (LF) is at the 75.50% historical percentile [3] - The robot index rose by 3.73% this week, with a year-to-date increase of 62.08% since the beginning of 2025, outperforming the SW auto parts index by 0.83% [2][3] Group 2 - Key companies' weekly changes include Silver Wheel Co., which invested 380 million yuan in Sichuan Silver Wheel for capacity construction of water-cooled plates and front-end modules, expected to reach production capacity by 2029 [3] - Huada Technology announced a mid-term dividend plan for 2025, proposing a cash dividend of 0.15 yuan per share (tax included), totaling 70.46 million yuan [3] - Fuda Co. completed the transfer of 25% equity in Guilin Fuda Alfin for 48 million yuan [3] Group 3 - The top five companies by weekly increase are Xinquan Co. (+14.05%), Beite Technology (+11.64%), Top Group (+8.26%), Daimai Co. (+8.01%), and New Coordinates (+7.97%) [4] - Investment recommendations for auto parts focus on product-oriented companies and those entering high-value sectors, prioritizing potential leaders with production capacity in Europe, North America, and Southeast Asia [4] - For the robotics sector, the focus is on certainty opportunities, with the Optimus V3 expected to launch in Q1 2026, and attention on domestic applications from companies like Xiaopeng, Yushu, and Zhiyuan [4]

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：002126 证券简称：银轮股份 公告编号：2025-099 债券代码：127037 债券简称：银轮转债 浙江银轮机械股份有限公司 2025年第三次临时股东会决议公告 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、本次股东会未出现否决提案的情形。 2、本次股东会未涉及变更以往股东会已通过的决议。 一、会议召开和出席情况 1、会议召开情况 （1）会议召开时间： 现场会议召开时间：2025年12月30日14:00 （2）会议召开地点：浙江省天台县福溪街道始丰东路8号，公司A幢六楼会议室。 （3）会议方式：本次股东会采取现场和网络投票相结合的方式。 （4）会议召集人：公司董事会。 （5）会议主持人：董事长徐小敏。 2、出席情况 参加本次股东会的股东及股东授权代表共计537名，代表有效表决权股份205,718,120股，占公司有表决 权股份总数的24.6324%。 (1)现场会议出席情况 出席现场会议的股东及股东授权代表18名，代表有效表决权股份110,322,606股，占公司有表决权股份总 ...

Core Viewpoint - Yinlun Co., Ltd. is expanding its domestic and international production capacity to enhance its market presence in the new energy thermal management sector and improve global supply chain capabilities [1][2][3] Domestic Capacity Expansion - The company plans to invest CNY 3.78 billion in its wholly-owned subsidiary, Sichuan Yinlun, to build an intelligent manufacturing base in Southwest China, focusing on the production of water cooling plates and front-end module products [2] - The project is expected to generate additional sales revenue of CNY 1.07 billion upon reaching full production in 2029 [2] - Sichuan Yinlun has shown stable operations, with a projected net profit of CNY 5.15 million in 2024 and CNY 9.59 million in the first nine months of 2025, which will help meet local supply demands and reduce operational costs [2] International Capacity Expansion - Yinlun Co. plans to invest CNY 2.69 billion (approximately USD 38.37 million) in its wholly-owned subsidiary, Shanghai Yinlun, for establishing a production base in Mexico, focusing on thermal management products for commercial vehicles and data centers [2][3] - The project is set to run from January 2026 to July 2027, responding to the transformation of Mexico into a North American advanced manufacturing hub [3] Financial Performance - The company has experienced continuous growth over the past four years, with revenue increasing from CNY 8.48 billion in 2022 to CNY 12.70 billion in 2024, and net profit rising from CNY 383 million to CNY 784 million, representing growth rates of approximately 50% and 105% respectively [4] - For the first three quarters of 2025, revenue and net profit were CNY 11.06 billion and CNY 672 million, reflecting year-on-year growth of 20.12% and 11.18% [4] - The passenger vehicle segment has become the largest business area for the company, with revenue from this segment reaching CNY 3.83 billion in the first half of 2025, accounting for 53.48% of total revenue [4] Market Performance - The company's stock price has shown strong performance, increasing from CNY 18.60 per share at the beginning of 2025 to CNY 38.81 per share by December 30, 2025, marking a cumulative increase of 108.66% [4]

Group 1 - The core point of the article is that Yinlun Co., Ltd. announced the approval of extending the validity period of the resolution for its subsidiary to publicly issue shares to unspecified qualified investors and list on the Beijing Stock Exchange during the third extraordinary general meeting of shareholders in 2025 [1] Group 2 - The announcement was made on December 30, indicating the company's ongoing efforts to engage in capital market activities [1] - The decision reflects the company's strategy to enhance its financial flexibility and support future growth initiatives [1] - The approval signifies the company's commitment to maintaining compliance with regulatory requirements for public offerings [1]

| 证券代码：002126 | 证券简称：银轮股份 | 公告编号：2025-100 | | --- | --- | --- | | 债券代码：127037 | 债券简称：银轮转债 | | 浙江银轮机械股份有限公司 关于为子公司担保事项的进展公告 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。 一、对外担保情况概述 浙江银轮机械股份有限公司（以下简称：公司或本公司）分别于2025年4月17日召 开第九届董事会第二十次会议、2025年5月9日召开2024年度股东大会，审议通过了《关 于为子公司提供担保额度的议案》，同意公司为浙江银轮新能源热管理系统有限公司等 19家控股子公司或其下属控股公司银行融资提供担保总额度605,443万元，具体担保额度 明细如下表： 2025 年 12 月 29 日，公司与中国工商银行股份有限公司天台支行续签《最高额保证 合同》，约定为全资子公司浙江银轮新能源热管理系统有限公司融资业务提供担保，最 高担保金额不超过 50,000 万元，授信融资期限为 2025 年 12 月 29 日至 2026 年 12 月 28 日。 上述担保事项与董 ...

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、本次股东会未出现否决提案的情形。 | 证券代码：002126 | 证券简称：银轮股份 | 公告编号：2025-099 | | --- | --- | --- | | 债券代码：127037 | 债券简称：银轮转债 | | 浙江银轮机械股份有限公司 2025 年第三次临时股东会决议公告 2、本次股东会未涉及变更以往股东会已通过的决议。 一、会议召开和出席情况 1、会议召开情况 （1）会议召开时间： 现场会议召开时间：2025年12月30日14:00 网络投票表决时间：2025年12月30日 其中，通过深圳证券交易所交易系统进行网络投票的时间：2025年12月30日 9:15-9:25，9:30－11:30，13:00－15:00。 通过深圳证券交易所互联网投票系统投票的时间：2025年12月30日9:15-15:00。 （2）会议召开地点：浙江省天台县福溪街道始丰东路8号，公司A幢六楼会议室。 （3）会议方式：本次股东会采取现场和网络投票相结合的方式。 （2）网络投票情况 通过网络投票的股东及股东代 ...

地址：上海市浦东新区银城中路 501 号上海中心大厦 11/12 楼 电话：021-20511000 传真：021-20511999 邮编：200120 上海市锦天城律师事务所 法律意见书 上海市锦天城律师事务所 关于浙江银轮机械股份有限公司 2025 年第三次临时股东会的 法律意见书 关于浙江银轮机械股份有限公司 2025 年第三次临时股东会的 法律意见书 致：浙江银轮机械股份有限公司 上海市锦天城律师事务所（以下简称"本所"）接受浙江银轮机械股份有限 公司（以下简称"公司"）委托，就公司召开 2025 年第三次临时股东会（以下 简称"本次股东会"）的有关事宜，根据《中华人民共和国公司法》（以下简称 《公司法》）、《上市公司股东会规则》等法律、法规、规章和其他规范性文件 以及《浙江银轮机械股份有限公司章程》（以下简称《公司章程》）的有关规定， 出具本法律意见书。 为出具本法律意见书，本所及本所律师依据《律师事务所从事证券法律业务 管理办法》和《律师事务所证券法律业务执业规则（试行）》等规定，严格履行 了法定职责，遵循了勤勉尽责和诚实信用原则，对本次股东会所涉及的相关事项 进行了必要的核查和验证，核查了本所认 ...