Group 1: Market Overview - The 中证2000 index showed strong performance with over 20 constituent stocks hitting the daily limit up [2] - A-shares exhibited mixed results, with the 上证指数 down 0.52% and the 深证成指 up 0.08% [1] Group 2: Policy Impact - The implementation of a new mandatory national standard for light vehicle automatic emergency braking systems (AEBS) is underway, replacing the current voluntary standard [3] - This new standard requires all passenger vehicles to be equipped with AEBS, indicating a significant shift in the automotive market [3] Group 3: Company Performance - 豪恩汽电 (301488) reported a revenue of 1.408 billion yuan from its automotive intelligent driving perception systems in 2024, marking a year-on-year growth of 17.39% [6] - 万安科技 (002590) has developed a comprehensive solution based on AEBS and EBS for the intelligent driving sector [5][6] - 亚太股份 (002284) offers a full suite of solutions for AEBS, with key components including IBS, eBooste, and EMB [6] - 锐明技术 (002970) has successfully launched its self-developed AEBS products in domestic public transport and has exported its front-mounted AEBS products to Europe [6] - 万集科技 (300552) has its laser radar products applied in AEBS systems for certain automotive manufacturers [7] Group 4: Related Companies - Other companies involved in AEBS-related businesses include 强达电路 (301628), 保隆科技 (603197), 华域汽车 (600741), 中汽股份 (301215), and 德赛西威 (002920) [8]

Summary of Asia-Pacific Co., Ltd. Conference Call Company Overview - Asia-Pacific Co., Ltd. specializes in brake systems, including line control braking systems and electronic parking brakes (EPB) with domestic production rates of 35% and 80%-90% respectively [2][3] Key Points and Arguments - **Sales Growth Projections**: EPB sales are expected to exceed 1 million units in 2024, while line control braking system sales, although currently below 20,000 units, are projected to see significant growth by 2025, indicating a strong market position in the braking system sector [2][3] - **International Market Expansion**: The company is actively expanding into overseas markets, having secured EPB orders from major global clients and is in discussions for additional projects such as line control braking systems. A significant increase in overseas market volume is anticipated in the latter half of this year and into next year, contributing to high certainty in revenue growth [2][4] - **Domestic Market Trends**: The domestic passenger vehicle market is experiencing a clear trend towards increased intelligence in vehicles, particularly among self-owned brands in the 100,000 yuan price range. This shift is improving the profitability of Chinese parts manufacturers, reversing the trend of cost-cutting seen in the first half of 2023-2024 [2][6] - **Industry Competition**: The brake industry has high entry barriers and a stable competitive landscape, dominated by a few foreign companies. Asia-Pacific Co., Ltd. and a few other domestic firms hold a certain market share, with EPB growth expected to exceed 30% this year [2][7] - **Financial Performance Expectations**: The company anticipates revenue growth of approximately 35% over the next two years, with projected revenues of 380 million yuan and 510 million yuan respectively. By 2027, the company may enter full-scale production, primarily benefiting from European clients [2][8] Additional Important Insights - **Valuation and Investment Appeal**: The current valuation of Asia-Pacific Co., Ltd. is slightly above 20 times earnings, which, considering its high growth potential, remains attractive for investors [5][9] - **Risk Factors**: Potential risks include a decline in global automotive sales, slower-than-expected progress with overseas clients, and significant increases in raw material prices, all of which could negatively impact the company's performance [5][10]

Group 1: Product Development and Market Strategy - The linear control products have begun mass production, with expected sales of approximately 1 billion CNY over a 5-year lifecycle, starting from Q1 2026 [2][3] - The company has a broad customer base, including major domestic and international automotive manufacturers, and is actively expanding its client portfolio [3][4] - The company is focusing on promoting new technologies and products, including the wheel hub motor and electronic mechanical brake (EMB) systems, to enhance market presence [6][8] Group 2: Financial Performance and Projections - As of May 9, 2025, the total number of shareholders is 47,857 [6] - The company’s net asset return has been steadily improving, with a focus on cost control and efficiency to enhance profitability [7][9] - The automotive electronics segment is expected to see significant growth, with plans to increase R&D investment in this area [7][9] Group 3: Challenges and Market Conditions - The actual supply volume of products may be influenced by various factors, including the production schedules of vehicle manufacturers and market acceptance [5][13] - The company acknowledges the competitive landscape, particularly in the wheel hub motor sector, and is exploring collaborations with major manufacturers [6][10] - The company is not currently involved in AI robotics but is focusing on smart driving technologies [9][10] Group 4: Future Plans and Innovations - The company aims to expand its market coverage and enhance its product offerings, particularly in automotive electronic systems [10][11] - There are no current plans for acquisitions in the integrated circuit chip sector, but future strategies will be evaluated based on business development [11][11] - The company is committed to improving its operational management to boost market competitiveness and overall efficiency [8][10]

Group 1: Company Overview - The company benefits from the growth in domestic automobile sales and the increase in international market projects, leading to improved gross margins [1] - The company provides a range of products including chassis system components, automotive electronics, and wheel hub motors, contributing to intelligent vehicle solutions [1] Group 2: Product Innovations - The company has developed a comprehensive angle module solution that integrates various technologies, allowing for independent control of vehicle systems and enhancing vehicle maneuverability [2] - The company is a supplier for Leap Motor, providing braking and automotive electronic products, and is actively promoting new products and technologies [2] Group 3: Future Growth Strategies - The company plans to expand its market coverage and promote new automotive electronic systems, aiming to secure more projects in the next two years [2] - The company is not currently involved in robotics but is researching components that may be applicable in that field [2]

Core Viewpoint - Zhejiang Asia-Pacific Electromechanical Co., Ltd. (hereinafter referred to as "Asia-Pacific Co.") is a key player in the automotive brake system industry, focusing on innovation, market expansion, and smart manufacturing while facing challenges such as intensified market competition and management issues [2][3][4][6][7]. Group 1: Company Overview - Asia-Pacific Co. was established in 1976 and is a national high-tech enterprise with capabilities in developing and producing advanced brake systems, including hydraulic ABS [2]. - The company has an annual production capacity of 3 million brake systems and 500,000 ABS systems, serving major domestic and international automotive manufacturers [2]. Group 2: Achievements - The company has a strong emphasis on technological innovation and R&D, with national-level research centers and a reputation for high-quality products in the domestic market [2]. - Asia-Pacific Co. has successfully expanded its market presence, establishing long-term partnerships with renowned automotive manufacturers and exporting products to North America, Europe, and Australia [3]. - The company is advancing smart manufacturing and industrial upgrades, having set up multiple intelligent production lines to enhance efficiency and product quality [4]. Group 3: Challenges - The automotive market is experiencing intensified competition, with numerous domestic and international parts manufacturers increasing their R&D and market efforts, impacting Asia-Pacific Co.'s market share [6]. - Internal management issues, such as deficiencies in information disclosure and internal controls, may pose compliance risks and affect sustainable development [7]. - Historical financial data indicates potential financial risks, including discrepancies in net asset calculations and challenges in capital operations and cost control, which could affect profitability [8]. - The company has faced regulatory issues, including significant discrepancies between forecasted and actual net profit figures, as well as potential insider trading and stock manipulation by executives [9].

证券代码：002284 证券简称：亚太股份 公告编号：2025-025 三、备查文件 浙江亚太机电股份有限公司 本公司及董事会全体成员保证公告内容真实、准确、完整， 并对公告中的虚假记载、误导性陈述或者重大遗漏承担责任。 一、基本情况概述 浙江亚太机电股份有限公司（以下简称"公司"）先后于 2025 年 3 月 27 日、 议通过了《关于变更公司经营范围并修订〈公司章程〉的议案》，根据公司实际 业务发展需要，依照企业经营范围登记管理规范性要求，公司拟对经营范围进行 相应变更，并同步修订《浙江亚太机电股份有限公司章程》中对应内容。具体内 容详见公司在巨潮资讯网上披露的《第八届董事会第二十三次会议决议公告》 《2024 年度股东大会决议公告》等相关公告。 二、工商变更登记情况 近日，公司已在浙江省市场监督管理局办理完成工商变更登记手续并换领了 营业执照，经营范围发生变更。 本次变更后公司工商登记主要信息如下： 零配件批发；汽车零部件再制造；汽车零配件零售；轨道交通专用设备、关键系 统及部件销售；技术服务、技术开发、技术咨询、技术交流、技术转让、技术推 广；电子元器件制造；其他电子器件制造；电子专用材料制造；电子专 ...

证券代码：002284 证券简称：亚太股份 公告编号：2025-025 浙江亚太机电股份有限公司 关于完成工商变更登记并换发营业执照的公告 本公司及董事会全体成员保证公告内容真实、准确、完整， 并对公告中的虚假记载、误导性陈述或者重大遗漏承担责任。 一、基本情况概述 浙江亚太机电股份有限公司（以下简称"公司"）先后于 2025 年 3 月 27 日、 2025 年 4 月 22 日召开第八届董事会第二十三次会议及 2024 年度股东大会，审 议通过了《关于变更公司经营范围并修订〈公司章程〉的议案》，根据公司实际 业务发展需要，依照企业经营范围登记管理规范性要求，公司拟对经营范围进行 相应变更，并同步修订《浙江亚太机电股份有限公司章程》中对应内容。具体内 容详见公司在巨潮资讯网上披露的《第八届董事会第二十三次会议决议公告》 《2024 年度股东大会决议公告》等相关公告。 本次变更后公司工商登记主要信息如下： 1、名称：浙江亚太机电股份有限公司 2、统一社会信用代码：913300001434287925 3、类型：其他股份有限公司（上市） 4、法定代表人：黄伟中 5、注册资本：柒亿叁仟玖佰壹拾万零叁佰肆拾捌元 6 ...

Group 1: Company Overview - The company has been focusing on corner module technology, providing comprehensive solutions that integrate hub motors, electronic mechanical brakes (EMB), steering systems, active suspension, and chassis domain controllers, enabling independent control of vehicle systems and enhancing application scenarios for personalized travel needs [2] - The EMB products are currently in the technology reserve stage and have not yet been mass-produced, with market launch dates dependent on customer project plans [3] Group 2: Performance and Growth - The company's performance growth in the previous year and the first quarter of this year is attributed to the increase in domestic automobile sales and the launch of new international projects, leading to scale effects and improved manufacturing capabilities [3] - The gross profit margin has improved year-on-year, contributing to steady performance growth [3] Group 3: Production Capacity and Market Strategy - The current capacity utilization rate is high, and production levels are determined by vehicle sales; the company plans to expand production lines based on market demand [3] - The company has secured numerous automotive electronics projects, with domestic suppliers being favored for their cost-effectiveness, service quality, and responsiveness compared to foreign brands [3] Group 4: Challenges and Responses - The company faces annual price reduction requests from vehicle manufacturers and plans to optimize product structure and enhance internal management to address pricing pressures [3] - The Moroccan production base project is progressing smoothly [3]

证券代码：002284 证券简称：亚太股份 公告编号：2025-024 （问题征集专题页面二维码） 特此公告。 浙江亚太机电股份有限公司 关于参加浙江辖区上市公司2025年投资者网上集体接待日 活动暨2024年度网上业绩说明会的公告 本公司及董事会全体成员保证公告内容真实、准确、完整，并 对公告中的虚假记载、误导性陈述或者重大遗漏承担责任。 为进一步加强与投资者的互动交流，浙江亚太机电股份有限公司（以下简称 "公司"）将参加由浙江证监局、浙江上市公司协会与深圳市全景网络有限公司联 合举办的"2025 年浙江辖区上市公司投资者集体接待日活动"暨 2024 年度网上业 绩说明会，现将相关事项公告如下： 本次活动将采用网络远程的方式举行，投资者可登录"全景路演"网站 （https://rs.p5w.net），或关注微信公众号"全景财经"，或下载"全景路演"APP, 参与本次互动交流，活动时间为 2025 年 5 月 13 日（周二）15:00-17:00。届时， 公司总经理施兴龙先生；董事、财务负责人孙华东先生；独立董事董晓敏先生； 副总经理、董事会秘书邱蓉女士（如遇特殊情况，参会人员可能进行调整）将在 线就公司 ...

据证券之星公开数据整理，近期亚太股份(002284)发布2025年一季报。截至本报告期末，公司营业总收 入12.58亿元，同比上升23.15%，归母净利润1.0亿元，同比上升65.35%。按单季度数据看，第一季度营 业总收入12.58亿元，同比上升23.15%，第一季度归母净利润1.0亿元，同比上升65.35%。本报告期亚太 股份应收账款上升，应收账款同比增幅达39.31%。 本次财报公布的各项数据指标表现尚佳。其中，毛利率19.11%，同比增18.83%，净利率7.99%，同比增 34.6%，销售费用、管理费用、财务费用总计7561.65万元，三费占营收比6.01%，同比增1.65%，每股净 资产4.07元，同比增5.76%，每股经营性现金流0.28元，同比增502.45%，每股收益0.14元，同比增 65.85% | 项目 | 2024年一季报 | 2025年一季报 | 同比增幅 | | --- | --- | --- | --- | | 营业总收入(元) | 10.22亿 | 12.58亿 | 23.15% | | 归母净利润(元) | 6059.12万 | 1亿 | 65.35% | | 扣非净利润( ...