Core Viewpoint - Zhejiang Yinlun Machinery Co., Ltd. plans to utilize a maximum of RMB 438 million of temporarily idle raised funds for cash management to enhance fund utilization efficiency and increase investment returns [1][2][3]. Fundraising Overview - The company raised a total of RMB 720.81 million through a non-public offering of 80,001,664 shares at RMB 9.01 per share, with a net amount of RMB 705.94 million after deducting fees [1]. - The company also raised RMB 688.65 million through a public offering of convertible bonds, with the net amount verified by an accounting firm [2]. Reasons for Idle Funds - The company is progressing with its fundraising project investments but has some idle funds due to the construction timeline of these projects [2][3]. Cash Management Plan - The company intends to use up to RMB 438 million of idle funds, with a maximum of RMB 127 million from the non-public offering and RMB 311 million from the convertible bonds [3]. - The investment period will not exceed 12 months, and the funds can be rolled over within this timeframe [3]. - Investment products will be low-risk, ensuring the safety of the principal, including options like time deposits and structured deposits [3]. Risk Control Measures - The company will select reputable financial institutions for cash management and will implement strict oversight and risk assessment procedures [4][5]. - The internal audit department will supervise the cash management activities, ensuring compliance and timely reporting [5]. Impact on Operations - The cash management activities will not adversely affect the company's main business or the progress of fundraising project investments, while also providing additional investment returns [5][6]. Supervisory Opinions - The supervisory board supports the cash management plan, stating it will enhance fund efficiency and comply with relevant regulations [5][6].

中信建投证券股份有限公司 费 用 人 民 币 11,347,558.65 元 （ 不 含 税 ） ， 实 际 募 集 资 金 净 额 为 人 民 币 688,652,441.35元（不含税）。上述资金到位情况已经立信会计师事务所（特殊 普通合伙）验证，并出具了《浙江银轮机械股份有限公司公开发行可转换公司 债券认购资金实收情况验资报告》（信会师报字[2021]第ZF10761号）。 二、募集资金暂时闲置的原因 公司严格按照募集资金使用计划，有序推进对募投项目的投资建设。因募 投项目的建设需要一定的周期，根据募投项目的实际建设进度，现阶段募集资 金在短期内存在部分闲置的情况。在不影响募投项目投资进度，确保募集资金 安全的前提下，公司将合理利用暂时闲置募集资金进行现金管理，以提高募集 资金使用效率。 关于浙江银轮机械股份有限公司 使用部分闲置募集资金进行现金管理的核查意见 中信建投证券股份有限公司（以下简称"中信建投证券"或"保荐机构"） 作为浙江银轮机械股份有限公司（以下简称"银轮股份"或"公司"）公开发行 可转换公司债券的保荐机构，根据《证券发行上市保荐业务管理办法》《深圳证 券交易所股票上市规则（2025年修 ...

| 证券代码：002126 | 证券简称：银轮股份 公告编号：2025-061 | | --- | --- | | 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 关于使用部分闲置募集资金进行现金管理的公告 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。 浙江银轮机械股份有限公司（以下简称"公司"）于 2025 年 7 月 10 日召开第九届董 事会第二十六次会议，会议审议通过了《关于使用部分闲置募集资金进行现金管理的议 案》，同意公司使用总额不超过 4.38 亿元的暂时闲置募集资金进行现金管理。 券监督管理委员会核准。公司于2021年6月7日启动公开发行，共发行可转换公司债券 7,000,000张，募集资金总额人民币700,000,000元，扣除各项发行费用人民币11,347,558.65 元（不含税），实际募集资金净额为人民币688,652,441.35元（不含税）。上述资金到位 情况已经立信会计师事务所（特殊普通合伙）验证，并出具了《浙江银轮机械股份有限 公司公开发行可转换公司债券认购资金实收情况验资报告》（信会师报字[20 ...

表决结果：同意3票，反对0票，弃权0票，同意票数占全体监事票数的100%。 | 证券代码：002126 | 证券简称：银轮股份 | 公告编号： | 2025-060 | | --- | --- | --- | --- | | 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 第九届监事会第十八次会议决议公告 本公司及监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。 浙江银轮机械股份有限公司（以下简称"公司"）第九届监事会第十八次会议于2025 年7月5日以电子邮件和专人送达方式通知各位监事，会议于2025年7月10日以通讯表决 方式召开。会议应到监事3人，实到监事3人，符合《中华人民共和国公司法》《公司章 程》的有关规定。会议由监事会主席朱文彬先生主持，经表决形成决议如下： 一、审议通过了《关于使用部分闲置募集资金进行现金管理的议案》 经审查，监事会认为：公司拟使用不超过人民币 4.38 亿元（含本数）的暂时闲置募 集资金进行现金管理，有利于提高募集资金的使用效率，增加收益，不会影响公司主营 业务的正常开展和募集资金投资项目的建设，不 ...

| 证券代码：002126 | 证券简称：银轮股份 公告编号：2025-059 | | --- | --- | | 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 第九届董事会第二十六次会议决议公告 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第九届董事会第二十六次会议通知于 2025 年 7 月 5 日 以邮件和专人送达等方式发出，会议于 2025 年 7 月 10 日以通讯表决方式召开，本次会 议应参加会议董事 9 名，出席会议董事 9 名。符合《中华人民共和国公司法》《公司章 程》的规定，会议合法有效。 本次会议由董事长徐小敏先生主持，经与会董事认真讨论研究，会议审议并通过了 如下决议： 一、审议通过了《关于使用部分闲置募集资金进行现金管理的议案》 表决情况：同意 9 票、反对 0 票、弃权 0 票，同意票数占全体董事票数的 100%。 《关于使用部分闲置募集资金进行现金管理的公告》于同日刊登在《证券时报》《上 海证券报》和巨潮资讯网（http://www.cninfo.com.cn）。保荐机构对本 ...

Investment Rating - The report maintains a "Positive" investment rating for the automotive industry, particularly focusing on the mid-to-high-end market and strong alpha companies [3][4]. Core Insights - The Chinese automotive market is transitioning between the third and fourth consumption eras, with a notable expansion in mid-to-large SUVs and personalized products, indicating untapped consumer potential [4]. - The report emphasizes the importance of innovative supply to stimulate market demand, highlighting products like Yu7, Zun Jie S800, and upcoming models from Li Auto as key drivers [4]. - The report suggests continued attention to strong alpha manufacturers such as Li Auto, JAC, Xiaomi, and Seres, as well as their corresponding supply chain companies [4]. Industry Update - Retail sales of passenger cars reached 570,000 units in the 26th week of 2025, with a month-on-month decrease of 1.38%. Traditional energy vehicles sold approximately 274,000 units, down 7.43%, while new energy vehicles sold 296,000 units, up 4.96%, achieving a penetration rate of 51.93% [4]. - The automotive industry experienced a total transaction value of 425.645 billion yuan this week, reflecting a week-on-week decrease of 5.01% [4]. - The automotive industry index rose by 0.10% this week, while the Shanghai and Shenzhen 300 index increased by 1.54%, indicating that the automotive sector's performance was below the broader market [11]. Market Conditions - The report notes that 123 automotive stocks rose while 159 fell this week, with the largest gainers being TaoTao Automotive, Hunan Tianyan, and Zhengyu Industrial, which saw increases of 29.8%, 21.0%, and 18.3%, respectively [15]. - Key events include the launch of the Xiaopeng G7, which exceeded pricing expectations and features advanced autonomous driving capabilities, and the opening of BYD's factory in Brazil, enhancing its presence in the Latin American market [5][8]. Investment Recommendations - The report recommends focusing on domestic strong alpha manufacturers such as BYD, Geely, and Xiaopeng, as well as companies involved in the trend of smart technology, including Jianghuai Automobile and Seres [4]. - It also suggests monitoring state-owned enterprise reforms, particularly with SAIC Motor, and identifying component manufacturers with strong growth potential, such as Fuyao Glass and New Spring [4]. Key Events - Xiaopeng G7 was launched with a starting price of 195,800 yuan, featuring advanced AI capabilities and a significant increase in autonomous driving performance [5][41]. - BYD's new factory in Brazil aims for an annual production capacity of 150,000 vehicles, with plans to expand to 300,000 units, marking a significant step in its global strategy [8][9].

| 证券代码：002126 | 证券简称：银轮股份 公告编号：2025-057 | | --- | --- | | 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 关于回购股份进展情况的公告 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。 浙江银轮机械股份有限公司（以下简称"公司"）于2025年5月6日召开第九届董事会 第二十二次会议，审议通过了《关于回购股份方案的议案》，同意公司使用股票回购专 项贷款和自有资金以集中竞价交易方式回购公司部分社会公众股份（A股普通股），用 于实施股权激励或员工持股计划。本次用于回购股份的资金总额不低于人民币5,000万元 （含），且不超过人民币10,000万元（含），回购价格不超过36元/股，具体回购股份的 数量及占总股本的比例以回购期满时实际回购数量为准。本次回购股份的实施期限为自公 司董事会审议通过回购股份方案之日起不超过12个月。具体内容详见公司分别于2025年 5月7日、2025年5月14日在指定媒体披露的《关于回购股份方案暨取得回购专项贷款承 诺函的公告》《回购股份报告书》。 因实施20 ...

特别提示： 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） | 证券代码：002126 | 证券简称：银轮股份 公告编号：2025-056 | | --- | --- | | 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2025年第二季度可转换公司债券转股情况的公告 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。 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， 原股东优先配售后余额部分 ...

| 证券代码：002126 | 证券简称：银轮股份 公告编号：2025-058 | | --- | --- | | 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存续期即将届满的提示性公告 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"）于 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 日在《上 海证券报》《证券时报》及巨潮资讯网（http://www.cninfo.com.cn）披露的相关公告。 鉴于公司第二期员工持股计划（以下简称"本次员工持股计划"）存续期将于 2026 年 1 月 7 日届满，根据《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 ...

Core Viewpoint - The company has announced the achievement of the exercise conditions for the third exercise period of its 2022 stock option incentive plan, allowing 358 eligible participants to exercise a total of 11,679,250 stock options at an exercise price of 9.76 yuan per share, effective from July 1, 2025, to March 31, 2026 [1][2][11]. Summary by Sections Stock Option Incentive Plan - The stock option incentive plan was approved by the company's board and involves a total of 11,679,250 stock options, representing 1.3991% of the company's total share capital [1][2]. - The exercise price for the first grant of stock options was set at 9.76 yuan per share, following adjustments due to annual profit distributions [5][12]. Approval Process - The board of directors has completed all necessary approval procedures for the stock option incentive plan, including independent opinions from independent directors [2][3]. - The plan has undergone multiple reviews and adjustments, including changes to the list of incentive recipients and the number of options granted [3][4]. Performance Assessment - The performance assessment for the incentive plan spans from 2022 to 2025, with specific annual targets for net profit and revenue [8][9]. - The exercise conditions are based on the achievement of these performance targets, with a detailed breakdown of the required metrics for each exercise period [8][10]. Impact on Financials - If all options are exercised, the company's total share capital will increase from 834,797,184 shares to 846,476,434 shares, which may dilute earnings per share and return on equity [14][15]. - The company will manage the funds raised from the exercise of options in a dedicated account to supplement its working capital [15]. Tax and Compliance - Participants are responsible for their personal income tax, which will be withheld and paid by the company [15]. - The company will disclose any changes in the list of incentive recipients and significant adjustments to stock option parameters in its regular reports [15][16].