Core Viewpoint - The company, Kingood Co., Ltd. (002488.SZ), has received a notification from VinFast, a leading new energy vehicle manufacturer in Vietnam, to become a primary supplier of passenger car wheel products [1] Group 1 - The company will develop and supply wheel products according to the requirements of VinFast [1] - The collaboration signifies a strategic partnership in the growing new energy vehicle sector [1]

开源证券研报指出，金固股份从轮毂制造商，向多元赛道新材料科技平台升级。汽车轮毂领军企业，营 收及净利不断释放，延展机器人与两轮车应用空间。新材料与汽车轮毂主业相结合，铸造高性能、低成 本的阿凡达低碳车轮产品。借此公司正实现由"单一产品供应商"向"新材料科技平台"的战略转型。公司 与九号科技有限公司签订战略合作协议，拓展两轮车车轮及车架领域。公司正式进入电动两轮车新兴市 场，利用现有技术优势快速切入，有望开辟全新增长空间。公司已与智元机器人、鹿明机器人、智身科 技等企业建立合作关系，并成立了杭州金固具身智能科技有限公司，引进专业人才团队，持续推动阿凡 达铌微合金等新材料的横向应用落地。公司正从以往专注于轮毂制造的"单一产品供应商"，逐步转向以 新材料技术为核心、多元业务赛道协同发展的综合解决方案提供商。首次覆盖，给予"买入"评级。 ...

Group 1: Strategy and Market Trends - The report emphasizes the rise of "portfolio management" as a crucial strategy in the public fund industry, driven by the need for a structural transformation from focusing on scale to prioritizing returns and clients [5][6] - The "Action Plan" released by the China Securities Regulatory Commission in May 2025 marks a significant shift towards standardized, professional, and long-term fund management practices [5][6] - The report outlines the challenges faced by public funds in transitioning to portfolio management, including the need for a shift in performance assessment from short-term to long-term metrics [8] Group 2: Electric Vehicle Industry - In November 2025, the sales of new energy vehicles in nine European countries reached 281,000 units, reflecting a year-on-year increase of 39%, with a penetration rate of 34.3% [10][11] - The report highlights significant growth in electric vehicle sales in Germany, France, and Italy, driven by government subsidies and increasing consumer demand [11][12] - Investment recommendations include companies in the lithium battery sector such as CATL and Yiwei Lithium Energy, as well as lithium material producers like Hunan Youneng and Tianqi Lithium [13] Group 3: Semiconductor Industry - The semiconductor sector is experiencing a price uptrend due to increased demand from AI and supply-side capacity shortages, with foundries like SMIC announcing price hikes of around 10% [15][16] - The report notes that NAND and DRAM prices have surged significantly, with indices showing increases of 173% and 169% respectively since July [18] - Key beneficiaries in the semiconductor space include foundries like SMIC and storage companies such as Jiangbo Long and Zhaoyi Innovation [19] Group 4: Real Estate Industry - Beijing's recent policy changes to relax purchase restrictions for non-local families aim to stimulate the housing market, with adjustments to social security requirements and mortgage rates [21][22] - The report indicates that the sales performance of China Jinmao has been strong despite market fluctuations, with projected net profits of 11.1 billion, 15.6 billion, and 16.2 billion yuan for 2025-2027 [35][37] - Investment recommendations focus on high-credit real estate firms that can capitalize on improving market conditions, such as Greentown China and China Overseas Land & Investment [26][36] Group 5: Company-Specific Developments - Lingyi Technology plans to acquire 35% of Limin Da for 875 million yuan, enhancing its capabilities in AI server cooling and power supply [27][28] - Jin Gu Co., a leading automotive wheel manufacturer, is transitioning to a diversified new materials technology platform, with projected revenues of 42.78 billion, 61.08 billion, and 88.82 billion yuan from 2025 to 2027 [32][33] - The report highlights the strategic shift of Jin Gu Co. towards new applications in electric two-wheelers and robotics, leveraging its innovative materials [34]

Investment Rating - The report assigns a "Buy" rating for the company, marking its first coverage [1]. Core Insights - The company is transitioning from a single product supplier focused on wheel manufacturing to a comprehensive solution provider centered on new material technology, specifically the Avatar niobium micro-alloy [3][4]. - Revenue projections for 2025-2027 are estimated at 42.78 billion, 61.08 billion, and 88.82 billion yuan, with net profits of 0.64 billion, 3.31 billion, and 10.03 billion yuan respectively. The corresponding EPS for these years is projected to be 0.06, 0.33, and 1.01 yuan, leading to PE ratios of 131.8, 25.4, and 8.4 times [3][4]. Summary by Sections 1. Transition from Wheel Manufacturer to New Material Technology Platform - The company has been in the wheel industry for nearly 30 years and is evolving into a new material technology solution provider [12]. - Its main business covers passenger cars and commercial vehicles, with a focus on the Avatar low-carbon wheel and steel wheels [17]. - The company has a relatively dispersed shareholding structure, with stable control by its major shareholders and involvement from state-owned enterprises [22]. 2. Self-developed Avatar Niobium Micro-alloy - The company has developed a revolutionary new material, the Avatar niobium micro-alloy, which addresses pain points in the automotive wheel industry [4][35]. - This new material allows for the production of high-performance, low-cost wheels, facilitating the company's strategic upgrade [4][35]. 3. Expansion of Avatar Product Capacity and New Applications - The demand for Avatar products is increasing, with the company expanding its production capacity to meet new orders from major clients [46]. - The company is also entering the electric two-wheeler market in collaboration with Ninebot, leveraging its existing technology to tap into this emerging market [61]. - In the robotics sector, the company is exploring new application scenarios for the niobium micro-alloy, establishing partnerships with various robotics firms [4][46]. 4. Financial Forecast and Investment Recommendations - The company is expected to see significant revenue and profit growth starting in 2025, following a period of investment in R&D and capacity expansion [24]. - The financial metrics indicate a recovery in profitability, with gross and net profit margins expected to improve as the Avatar product line gains traction [29][32].

今年以来金固股份已经2次登上龙虎榜，最近一次登上龙虎榜为10月13日，当日龙虎榜净买入-3108.40 万元；买入总计6753.14万元 ，占总成交额比16.38%；卖出总计9861.54万元 ，占总成交额比23.92%。 资料显示，浙江金固股份有限公司位于浙江省杭州市富阳区富春街道公园西路1181号，成立日期1996年 6月24日，上市日期2010年10月21日，公司主营业务涉及汽车车轮的研发、生产、销售。主营业务收入 构成为：汽车零部件制造65.51%，钢贸业务27.18%，其他7.31%。 12月25日，金固股份盘中上涨2.01%，截至13:25，报8.63元/股，成交2.66亿元，换手率3.39%，总市值 85.91亿元。 资金流向方面，主力资金净流入320.60万元，特大单买入840.05万元，占比3.16%，卖出751.92万元，占 比2.83%；大单买入6110.01万元，占比22.99%，卖出5877.54万元，占比22.11%。 金固股份今年以来股价跌17.26%，近5个交易日涨11.07%，近20日跌2.92%，近60日跌31.18%。 金固股份所属申万行业为：汽车-汽车零部件-轮胎轮毂。 ...

Core Viewpoint - As of December 23, a total of 456 stocks in the Shanghai and Shenzhen markets have experienced net outflows of main funds for five consecutive days or more, indicating a significant trend of capital withdrawal from these stocks [1]. Group 1: Stocks with Longest Net Outflow - Jingu Co., Ltd. has the longest net outflow duration, with 26 consecutive days of main fund outflows [1]. - Nawei Technology follows closely with 25 consecutive days of net outflows [1]. - The stock with the highest total net outflow amount is Heertai, which has seen a cumulative outflow of 4.834 billion yuan over 13 days [1]. Group 2: Stocks with Significant Net Outflow Amounts - Moer Thread-U ranks second with a total net outflow of 3.089 billion yuan over 8 days [1]. - Other notable stocks include Leike Defense with 1.755 billion yuan over 6 days and 360 Security Technology with 1.728 billion yuan over 12 days [1]. Group 3: Stocks with High Net Outflow Ratios - Shunxin Agriculture has the highest net outflow ratio, with a 10.84% outflow relative to its trading volume over the past 6 days [1]. - Other stocks with significant outflow ratios include China Uranium Industry at 11.93% and Jingu Co., Ltd. at 11.75% [1]. Group 4: Performance of Affected Stocks - Heertai has seen a cumulative decline of 27.33% during the net outflow period [1]. - Moer Thread-U has experienced a decline of 28.08%, while Leike Defense has dropped by 13.63% [1].

证券日报网讯 12月22日晚间，金固股份发布公告称，河北中重冷轧材料有限公司、河北纵横集团丰南 钢铁有限公司于2025年12月17日至2025年12月19日通过集中竞价交易方式合计减持公司股份9788669 股，占公司总股本比例0.98%，减持后合计持股比例由5.98%降至5.00%，触及5%整数倍，不再是公司 持股5%以上股东。 （编辑 丛可心） ...

登录新浪财经APP 搜索【信披】查看更多考评等级 浙江金固股份有限公司（证券代码：002488，证券简称：金固股份）12月22日发布自愿性信息披露公告 称，公司近日再次收到头部知名新能源汽车主机厂（因保密要求未披露名称，以下简称"客户"）的定点 通知书，将为其乘用车开发阿凡达低碳车轮产品。据公告，这是公司累计获得该客户的第十几款乘用车 项目定点，标志着公司在新能源汽车轻量化零部件领域的市场竞争力进一步凸显。 对于此次定点项目对公司的影响，公告明确，由于产品预计2026年6月量产，因此对本年度的收入及利 润水平不产生影响。但长期来看，连续获得头部客户订单，不仅体现了市场对阿凡达低碳车轮的需求增 长，更巩固了公司在新能源汽车零部件供应链中的地位，为未来业绩增长奠定基础。 金固股份指出，公司始终以研发和客户需求为导向，此次合作成果有力彰显了公司的增长潜力与核心价 值。随着新能源汽车行业持续扩容及轻量化趋势深化，公司阿凡达低碳车轮产品的市场空间有望进一步 打开。 （本文数据来源：浙江金固股份有限公司公告） 点击查看公告原文>> 公告显示，此次定点通知涉及的产品为公司核心轻量化产品——阿凡达低碳车轮，公司将按照客户要求 ...

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、定点通知的基本情况 浙江金固股份有限公司（以下简称"公司"）于近日再次收到头部知名的新 能源汽车主机厂（限于保密要求，无法披露其名称，以下简称"客户"）的定点 通知书，公司将作为客户的零部件供应商，为其乘用车开发阿凡达低碳车轮产品， 公司将按照要求完成产品开发工作。 二、对公司的影响 公司已累计获得该客户十几款乘用车项目定点，充分体现了客户对公司阿凡 达低碳车轮产品的高度认可与持续接受。这一成果不仅印证了市场对公司阿凡达 低碳车轮需求的稳步增长，更显著巩固并提升了产品的市场竞争力与品牌影响力， 有力彰显了公司的增长潜力与核心价值。 公司是一家研发驱动型企业，是国家级、省级的知识产权示范企业，并通过 了国家知识产权优势企业的复核。公司高度重视科技创新和产品研发，具有以研 发和客户需求为导向，进行科技成果产业化的丰富经验，已经形成了完善的综合 研究、开发体系。公司经过近十年研发，通过对关键工艺、设备、模具和材料的 创新，于 2020 年底推出了新型轻量化产品阿凡达低碳车轮，并在工艺、设备、 模具、材料等方面均建立 ...

浙江金固股份有限公司 简式权益变动报告书 上市公司名称: 浙江金固股份有限公司 上市地点：深圳证券交易所 股权变动性质：股份减少 信息披露义务人二：河北纵横集团丰南钢铁有限公司 通 讯 地 址：丰南区临港经济开发区 股权变动性质：股份减少 股票简称：金固股份 股票代码：002488 信息披露义务人一：河北中重冷轧材料有限公司 通 讯 地 址：沧州渤海新区 合计持股比例降至 5%，变动触及 5%的整数倍，不再是公司持股 5%以 上的股东 签 署 日 期：2025 年 12 月 19 日 信息披露义务人声明 一、本报告书系信息披露义务人依据《中华人民共和国公司法》《中华人民 共和国证券法》《上市公司收购管理办法》《公开发行证券的公司信息披露内容 与格式准则第 15 号———权益变动报告书》及相关法律、法规及部门规章的规 定编写本权益变动报告书。 二、信息披露义务人签署本报告书已获得必要的授权和批准，其履行亦不违 反信息披露义务人公司章程或内部规则中的任何条款，或与之相冲突。 三、依据《中华人民共和国证券法》《上市公司收购管理办法》《公开发行 证券的公司信息披露内容与格式准则第 15 号———权益变动报告书》的规定 ...