每经AI快讯，金固股份（SZ 002488，收盘价：8.58元）12月8日晚间发布公告称，公司近日接到控股股 东孙锋峰先生和孙金国先生通知，获悉其所持有本公司的部分股份办理了解除质押业务及质押业务。截 至本公告日，孙锋峰累计质押股数约为9047万股，占其所持股份比例为90.05%。孙金国累计质押股数 约为3982万股，占其所持股份比例为100%。 每经头条（nbdtoutiao）——处方药变"瘾品"：国内首次报告普瑞巴林滥用致成瘾病例，网络平台暴 露"无病历可购药"漏洞，列管与否尚需科学考量 2025年1至6月份，金固股份的营业收入构成为：汽车零部件制造占比65.51%，钢贸业务占比27.18%， 其他占比7.31%。 （记者 王晓波） 截至发稿，金固股份市值为85亿元。 ...

证券代码：002488 证券简称：金固股份 编号：2025-054 浙江金固股份有限公司 关于公司控股股东股份解除质押及重新质押的公告 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： 公司控股股东及其一致行动人质押股份数量占其所持公司股份数量比例超 过 80%，请投资者注意相关风险。 浙江金固股份有限公司（以下简称"公司"或"本公司"）近日接到控股股 东孙锋峰先生和孙金国先生通知，获悉其所持有本公司的部分股份办理了解除质 押业务及质押业务，具体事项如下： 股东 名称 是否为控股 股东或第一 大股东及其 一致行动人 本次解除质押 股份数量 占其所持 股份比例 占公司总 股本比例 起始日 解除日期 质权人 孙锋 峰 是 28,800,000 28.66% 2.89% 2021 年 6 月 2 日 2025 年 12 月 4 日 杭州上市公司稳 健发展引导基金 合伙企业（有限合 伙） 孙锋 峰 是 25,090,858 24.97% 2.52% 2021 年 6 月 2 日 2025 年 12 月 4 日 杭州上市公司稳 健发展引导基金 合伙企业（有限合 ...

Core Viewpoint - JinGu Co., Ltd. has experienced a decline in stock price this year, with a notable drop of 14.00% year-to-date and 33.36% over the past 60 days, indicating potential challenges in the market [1][2]. Group 1: Stock Performance - As of November 26, JinGu's stock price increased by 2.05% to 8.97 CNY per share, with a trading volume of 1.26 billion CNY and a turnover rate of 1.55%, resulting in a total market capitalization of 89.29 billion CNY [1]. - The stock has seen a net outflow of main funds amounting to 753.87 million CNY, with significant selling pressure observed in large orders [1]. - The company has appeared on the "Dragon and Tiger List" twice this year, with the most recent instance on October 13, where it recorded a net buy of -3108.40 million CNY [1]. Group 2: Financial Performance - For the period from January to September 2025, JinGu reported a revenue of 3.086 billion CNY, reflecting a year-on-year growth of 6.91%, and a net profit attributable to shareholders of 42.007 million CNY, which is a 29.77% increase compared to the previous year [2]. - The company has distributed a total of 339 million CNY in dividends since its A-share listing, with cumulative payouts of 21.791 million CNY over the past three years [2]. Group 3: Company Overview - JinGu Co., Ltd. is located in Fuyang District, Hangzhou, Zhejiang Province, and was established on June 24, 1996, with its listing date on October 21, 2010 [1]. - The company's main business involves the research, production, and sales of automotive wheels, with revenue composition as follows: 65.51% from automotive parts manufacturing, 27.18% from steel trading, and 7.31% from other sources [1].

证券研究报告：汽车 | 公司点评报告 发布时间：2025-11-18 股票投资评级 资料来源：聚源，中邮证券研究所 | 公司基本情况 | | | --- | --- | | 最新收盘价（元） | 9.71 | | 总股本/流通股本（亿股）9.95 / 9.20 | | | 总市值/流通市值（亿元）97 / 89 | | | 52 周内最高/最低价 | 14.93 / 9.62 | | 资产负债率(%) | 55.1% | | 市盈率 | 416.74 | | 第一大股东 | 孙锋峰 | 研究所 分析师:付秉正 SAC 登记编号:S1340524100004 Email:fubingzheng@cnpsec.com 金固股份(002488) 25Q3 盈利能力同比改善，低碳车轮产能布局提速 ⚫ 事件 金固股份发布 2025 年三季报，公司前三季度实现营业收入 30.86 亿元，同比+6.91%。实现归母净利润 0.42 亿元，同比+29.77%，实现 扣非归母净利润 0.35 亿元，同比+39.13%。 ⚫ 点评 增持|首次覆盖 个股表现 -5% 1% 7% 13% 19% 25% 31% 37% 43% 49 ...

Core Viewpoint - The company reported a revenue of 3.086 billion yuan for the first three quarters of 2025, representing a year-on-year increase of 6.91%, and a net profit attributable to shareholders of 42 million yuan, up 29.77% year-on-year [1] Group 1: Financial Performance - In Q3 2025, the company achieved a revenue of 963 million yuan, a year-on-year increase of 0.61% but a quarter-on-quarter decrease of 22.09%. The comprehensive gross margin was 17.38%, up 9.93 percentage points year-on-year and 6.09 percentage points quarter-on-quarter [2] - The net profit attributable to shareholders for Q3 was 12 million yuan, reflecting a year-on-year increase of 1.65%, with a corresponding net profit margin of 2.44%, up 1.22 percentage points year-on-year and 2.24 percentage points quarter-on-quarter [2] Group 2: Product Development and Sales - The sales of the Avatar low-carbon wheels have significantly increased, with a 44% year-on-year growth in product sales during Q3, and a remarkable 93% year-on-year increase in Avatar product sales [3] - To alleviate the production capacity constraints of high-margin Avatar low-carbon wheels, the company is converting some traditional wheel production lines into dedicated lines for Avatar low-carbon wheels [3] Group 3: Strategic Expansion - The company is set to launch its overseas factory, with the Thailand Avatar low-carbon wheel factory expected to commence production in early 2026. This is anticipated to drive international business growth alongside domestic operations [4] - The company is actively pursuing applications for materials like Avatar niobium micro-alloy in emerging fields such as intelligent robots and low-altitude aircraft, with structural components already provided to Zhiyuan Robotics for mass production within the year [4] Group 4: Investment Strategy - The company forecasts revenues of 3.767 billion, 5.697 billion, and 7.284 billion yuan for 2025-2027, with net profits of 63 million, 261 million, and 421 million yuan respectively. The current stock price corresponds to PE ratios of 154.24, 37.0, and 23.0 times [5]

Group 1 - The core viewpoint of the news highlights the trading performance and financial metrics of Jingu Co., Ltd. on November 17, with a stock price increase of 0.94% and a trading volume of 102 million yuan [1] - On November 17, Jingu Co., Ltd. had a financing buy-in amount of 10.5961 million yuan and a net financing buy-in of 2.4834 million yuan, indicating strong investor interest [1] - As of November 17, the total financing and securities lending balance for Jingu Co., Ltd. reached 518 million yuan, with a financing balance of 516 million yuan, representing 5.34% of the circulating market value [1] Group 2 - As of November 10, the number of shareholders for Jingu Co., Ltd. increased to 37,300, a rise of 3.78%, while the average circulating shares per person decreased by 3.64% to 24,634 shares [2] - For the period from January to September 2025, Jingu Co., Ltd. reported a revenue of 3.086 billion yuan, reflecting a year-on-year growth of 6.91%, and a net profit attributable to shareholders of 42.0073 million yuan, up 29.77% year-on-year [2] - Since its A-share listing, Jingu Co., Ltd. has distributed a total of 339 million yuan in dividends, with cumulative distributions of 21.7912 million yuan over the past three years [2]

Group 1: Company Overview - Zhejiang Jingu Co., Ltd. was listed on the Shenzhen Stock Exchange in 2010 and is a leading manufacturer in the wheel manufacturing industry in China [2] - The company is transitioning from a traditional parts manufacturer to a new materials solution provider, driven by advanced material technology [2][3] Group 2: Material Technology and Strategic Upgrade - The company has developed the "Avatar" niobium micro-alloy material, which has a maximum strength of 2000 MPa, approximately twice that of titanium alloys and five times that of aluminum alloys, enabling weight reduction and cost savings [2][3] - Continuous investment in R&D has led to iterative upgrades of the Avatar material, expanding into other metal materials, composite materials, and modified plastics [3] Group 3: Automotive Parts Business Growth - The company is a significant player in the automotive wheel industry, leveraging its unique "Avatar low-carbon wheel" to establish a competitive advantage amid the trend towards automotive lightweighting [3] - The company has launched new product series, including "Gemini" and "Cybertron," aiming to cover a wide range of passenger vehicles from economy to mid-high-end models [3] - Rapid capacity expansion is underway with new production lines established in multiple domestic locations and overseas, including Thailand, to support performance growth [3] - The company has deepened partnerships with major domestic automakers like BYD and Changan, while also securing significant projects in international markets, with projected sales of $158 million from a U.S. project over five years [3] Group 4: Emerging Market Expansion - The company is strategically moving into the robotics industry, where lightweight, strong, and durable materials are essential for core components [4] - The electric two-wheeler market is expected to grow due to new safety regulations, prompting the company to apply its four-wheeler technology to this sector, which could significantly contribute to future performance [4] Group 5: Q&A Highlights - The Avatar niobium micro-alloy wheels are characterized by innovative design, lightweight, high precision, strength, better balance, enhanced deformation resistance, durability, and cost-effectiveness [5] - The company is actively collaborating with various enterprises in the robotics sector to enhance its competitive edge in high-end manufacturing [7]

Investment Rating - The report initiates coverage with a "Buy" rating for the company, projecting significant growth in the coming years [4][7]. Core Insights - The company is successfully promoting its new material, Avanda niobium microalloy, and has established partnerships with various enterprises, indicating a strong market presence [1][4]. - The upgrade of production lines and the pre-emptive allocation of R&D expenses are expected to impact short-term performance, but the long-term outlook remains positive as production capacity for Avanda wheels is anticipated to meet growing demand [2][4]. - The upcoming launch of the Thailand factory is expected to drive international business growth, with several overseas projects already secured, including a significant contract with a leading global automotive company [3][4]. Financial Summary - The company forecasts revenue growth from 3,357 million in 2023 to 7,835 million by 2027, reflecting a compound annual growth rate (CAGR) of approximately 32.7% [5][12]. - Net profit is projected to rebound from 32 million in 2023 to 460 million by 2027, with a notable increase of 257.45% in 2026 [5][12]. - The earnings per share (EPS) is expected to rise from 0.03 in 2023 to 0.46 in 2027, indicating strong profitability growth [5][12]. Market Position and Strategy - The company is actively entering emerging sectors such as robotics and low-altitude aircraft, leveraging the unique properties of Avanda niobium microalloy, which offers significant weight reduction and cost savings compared to traditional materials [4][12]. - Collaborations with companies like Zhiyuan Robotics and Luming Robotics highlight the company's strategic focus on innovative applications of its materials [4][12].

Core Viewpoint - Jingu Co., Ltd. announced the election of Shi Qingyun as the employee representative director of the sixth board of directors during the employee representative assembly scheduled for November 12, 2025 [2] Company Summary - Jingu Co., Ltd. will hold an employee representative assembly on November 12, 2025 [2] - Shi Qingyun has been elected as the employee representative director [2]

浙江金固股份有限公司 关于非独立董事辞职暨选举职工代表董事的公告 证券代码：002488 证券简称：金固股份 编号：2025-053 二、选举公司职工代表董事的情况 根据《公司法》 《公司章程》 等有关规定，公司于2025年11月12日召开职 工代表大会，同意选举师庆运先生担任公司第六届董事会职工代表董事（简历详 见附件），任期自本次职工代表大会审议通过之日起至公司第六届董事会任期届 满之日止，可连选连任。 师庆运先生符合相关法律、法规及规范性文件对董事任职资格的要求，其担 任公司职工代表董事后，公司董事会中兼任公司高级管理人员职务的董事以及由 职工代表担任的董事人数总计未超过公司董事总数的二分之一，符合相关法律、 法规及规范性文件的要求。 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。 浙江金固股份有限公司（以下简称"公司"）于 2025 年 11 月 12 日召开 2025 年第一次临时股东大会，审议通过了《关于修订<公司章程>的议案》，根据修订 后的《公司章程》 规定，公司设职工代表董事 1 名，由公司职工通过职工代表 大会民主选举产生。 一 ...