| 证券代码：002126 | 证券简称：银轮股份 公告编号：2025-055 | | --- | --- | | 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 关于控股子公司公开发行股票并在北京证券交易所 上市申请获得受理的提示性公告 二、风险提示 朗信电气向不特定合格投资者公开发行股票并在北交所上市的申请存在无法通过 北交所发行上市审核或中国证监会注册的风险，存在因公开发行失败而无法在北交所上 市的风险。 公司将根据相关事项进展情况，按照相关法律法规规定及时履行信息披露义务，敬 请广大投资者谨慎决策，注意投资风险。 三、备查文件 北京证券交易所出具的《受理通知书》 特此公告 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"）控股子公司江苏朗信电气股份 有限公司（以下简称"朗信电气"）为全国中小企业股份转让系统挂牌企业（证券简 称：朗信电气，证券代码：874326）。拟向不特定合格投资者公开发行股票并在北京 证券交易所（以下简称"北交所"）上市。现将相关事项公告如下： 一、朗信电气公开 ...

Group 1 - The company, Yinlun Co., Ltd. (002126), announced that its subsidiary, Langxin Electric, has applied for a public stock offering and listing on the Beijing Stock Exchange [1] - Langxin Electric submitted the relevant application materials to the Beijing Stock Exchange on June 23, 2025 [1] - On June 25, 2025, Langxin Electric received the acceptance notice from the Beijing Stock Exchange, confirming that the listing application has been officially accepted [1]

| 证券代码：002126 | 证券简称：银轮股份 公告编号：2025-054 | | --- | --- | | 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 关于公司 2022 年股票期权激励计划首次授予部分 第三个行权期采用自主行权模式的提示性公告 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，不存在虚假记 载、误导性陈述或者重大遗漏。 浙江银轮机械股份有限公司（以下简称"公司"）于 2025 年 6 月 20 日召开第九届 董事会第二十五次会议，审议通过了《关于 2022 年股票期权激励计划首次授予部分第 三个行权期行权条件成就的议案》，根据《上市公司股权激励管理办法》（以下简称《管 理办法》）及公司《2022 年股票期权激励计划（草案）》（以下简称《激励计划》）的 相关规定，董事会认为公司 2022 年股票期权激励计划首次授予部分股票期权第三个行 权条件已经成就，符合行权条件的 358 名激励对象可行权的股票期权数量为 11,679,250 股。截至本公告日，本次自主行权事项已获深圳证券交易所审核通过，公司已在中国证 券登记结算有限责任公司深圳分公司完成自主行 ...

| 证券代码：002126 | 证券简称：银轮股份 公告编号：2025-053 | | --- | --- | | 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 本次注销的部分股票期权尚未行权，注销后不会对公司股本结构造成影响，注销事 项符合《上市公司股权激励管理办法》、公司《2022年股票期权激励计划（草案）》等 相关规定，不存在损害公司及其他股东特别是中小股东利益的情形。 特此公告 浙江银轮机械股份有限公司 董 事 会 2025 年 6 月 25 日 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 6 月 20 日召开第九届 董事会第二十五次会议及第九届监事会第十七次会议，审议通过了《关于注销 2022 年 股票期权激励计划部分股票期权的议案》，具体内容详见公司于 2025 年 6 月 21 日在指 定媒体披露的《关于注销 2022 年股票期权激励计划部分股票期权的公告》（公告编号： 2025-052）。 公司本次注销股票期权数量为328,250股，涉及人数24人 ...

Investment Rating - The report maintains a "Buy" rating for the automotive sector [1] Core Views - The continuation of the "old-for-new" subsidy policy is expected to support automotive consumption, leading to a positive outlook for the automotive sector [7][17] - The completion of 2,500 5C supercharging stations by Li Auto indicates strong infrastructure development, surpassing Tesla's charging network in China [3][13] - The launch of the Li Auto i6, a pure electric SUV, is anticipated in September 2025, showcasing advancements in electric vehicle technology [4][14] Summary by Sections Recent Developments - Li Auto has completed its goal of building 2,500 5C supercharging stations, with the latest located at Shanghai Disneyland, featuring a design of three groups of dual-gun 5C charging piles [3][13] - The i6 model has been officially announced and is set to launch in September 2025, featuring a pure electric architecture and various powertrain options [4][14] - The "old-for-new" subsidy policy will continue, with central funding expected to be distributed in batches, totaling 3 trillion yuan for the year [5][15] Market Performance - The automotive sector underperformed compared to the Shanghai Composite Index, with a weekly decline of 2.6% from June 16 to June 20, 2025 [18] - The performance of individual stocks varied, with Li Auto experiencing a decline of 7.1% during the same period [18][23] Investment Recommendations - The report recommends several companies poised to benefit from the current market conditions, including Li Auto, BYD, and Great Wall Motors, among others [7][17] - It highlights the potential for high-end vehicle manufacturers to gain from the ongoing shift towards premium offerings in the automotive market [7][17]

Investment Rating - The report maintains a positive outlook on the automotive sector, suggesting stock selection to emphasize alpha over beta, with a focus on distinct individual stock characteristics [2]. Core Insights - The automotive sector experienced a slight decline in investment sentiment, with expectations for a rebound in demand towards the end of June due to increased marketing efforts. The industry is anticipated to enter a seasonal lull in July and August, followed by a surge in new product launches and seasonal sales towards the end of the year [2]. - The report highlights the importance of monitoring the impact of policies such as trade-in programs and changes in new energy vehicle purchase taxes on the industry [2]. Data Tracking - In April, wholesale passenger car sales reached 2.22 million units, a year-on-year increase of 11% but a month-on-month decrease of 10%. Retail sales for the same month were 1.59 million units, up 6% year-on-year but down 14% month-on-month [4]. - New energy vehicle deliveries from leading companies showed significant growth in May, with BYD delivering 380,000 units (up 15% year-on-year), and Li Auto and Xpeng also reporting substantial increases [4][19]. - The average discount rate in early June rose to 10.6%, reflecting a 0.4 percentage point increase from the previous period and a 2.9 percentage point increase year-on-year [4]. Market Performance - The automotive sector index fell by 2.57% this week, ranking 23rd out of 29 sectors. The overall market indices also showed declines, with the Shanghai Composite Index down 0.51% [7][28]. - The report notes that the automotive sector's price-to-earnings (PE) ratio stands at 31, indicating a relatively high valuation compared to historical averages [28][34].

Core Viewpoint - The announcement details the achievement of the third exercise condition for the stock option incentive plan of Zhejiang Yinlun Machinery Co., Ltd, allowing 358 eligible participants to exercise a total of 11,679,250 stock options at a price of 9.76 yuan per share, representing 1.3991% of the company's total share capital [1][2][14]. Summary by Sections Stock Option Incentive Plan - The stock option incentive plan was approved by the company's board and aligns with the relevant regulations, confirming that the third exercise condition has been met [2][10]. - The plan includes a total of 11,679,250 stock options available for exercise, with the exercise price set at 9.76 yuan per share [1][14]. Approval Process - The stock option incentive plan underwent necessary approval procedures, including independent opinions from the board of directors and the supervisory board [2][3][16]. - The plan was initially approved at the company's second extraordinary general meeting in 2022 [5][7]. Performance Assessment - The performance assessment for the incentive plan spans from 2022 to 2025, with specific annual targets for net profit and revenue [7][8]. - The targets for the first exercise period include a net profit of at least 400 million yuan and revenue of at least 9 billion yuan for 2022 [7]. 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, potentially affecting earnings per share and return on equity [14]. - The exercise of stock options is not expected to have a significant impact on the company's financial condition or operational results for the current year [15]. Legal and Compliance - The company has obtained necessary approvals and authorizations for the exercise of stock options, ensuring compliance with relevant laws and regulations [17][18]. - The independent financial advisor has confirmed that the conditions for the exercise of stock options have been met [17].

Group 1 - The company held the 17th meeting of the 9th Supervisory Board on June 20, 2025, where all three supervisors participated, meeting legal requirements [1] - The Supervisory Board approved the achievement of the exercise conditions for the first grant of the 2022 stock option incentive plan, with unanimous support from all supervisors [1] - The company will proceed with the necessary actions for the exercise of stock options as per the 2022 stock option incentive plan [1] Group 2 - The Supervisory Board also approved the cancellation of stock options for six individuals who no longer qualify due to resignation, totaling 280,000 options [2] - Additionally, 48,250 stock options will be canceled due to individual performance not meeting the required standards, despite overall company performance being satisfactory [2] - The total number of stock options to be canceled is in compliance with relevant regulations and does not harm the interests of the company, employees, or shareholders [2]

浙江银轮机械股份有限公司 2022 年股票期权激励计划首次授予部分 第三个行权期可行权激励对象名单 一、总体情况 根据浙江银轮机械股份有限公司（以下简称"公司"）第九届董事会第二十五次会议 和第九届监事会第十七次会议审议通过的《关于 2022 年股票期权激励计划首次授予部 分第三个行权期行权条件成就的议案》，公司 2022 年股票期权激励计划首次授予第三 个行权期共有 358 名激励对象符合行权条件，具体情况如下： | 序号 | 姓名 | 职务 | 获授的股票期 | 本次行权 | 本次行权占股票期 | | --- | --- | --- | --- | --- | --- | | | | | 权数量 | 数量 | 权激励计划已授予 | | | | | （万份） | （万股） | 权益总量的比例 | | | 一、董事、监事、高级管理人员 | | | | | | 1 | 柴中华 | 党委书记、董事、副总 | 200.00 | 50.00 | 25.00% | | | | 经理 | | | | | 2 | 夏军 | 总经理 | 100.00 | 25.00 | 25.00% | | 3 | 朱晓红 | 财务总监 | ...

| 证券代码：002126 | 证券简称：银轮股份 公告编号：2025-051 | | --- | --- | | 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2022年股票期权激励计划首次授予部分 第三个行权期行权条件成就的公告 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。 特别提示： 1. 公司首次授予部分股票期权第三个行权期行权条件已成就，可行权的激励对象共 计 358 人，可行权的股票期权数量为 11,679,250 份，占目前公司总股本比例为 1.3991%， 首次授予部分股票期权的行权价格为 9.76 元/份。 2. 满足行权条件的股票期权将采用自主行权模式。 3. 本次可行权股票期权若全部行权，公司股份仍具备上市条件。 4. 本次股票期权需在相关部门办理完行权手续后方可行权，公司届时将另行发布相 关公告，敬请投资者注意。 浙江银轮机械股份有限公司（以下简称"公司"）于 2025 年 6 月 20 日召开第九届董 事会第二十五次会议，审议通过了《关于 2022 年股票期权激励计划首次授予部分第三 个行权期行权 ...