Core Viewpoint - The company, Jingu Co., Ltd. (002488.SZ), has received a notification from VinFast, a leading new energy vehicle manufacturer in Vietnam, to become a primary parts supplier for passenger car wheels, which will enhance its market presence in Southeast Asia and support its global strategic layout [1] Group 1: Company Developments - Jingu Co., Ltd. will develop and supply passenger car wheel products according to VinFast's requirements [1] - The project is expected to enter mass production in September this year, which will impact the company's revenue and profit levels for the current fiscal year [1] Group 2: Industry Context - VinFast is the first domestic automotive brand in Vietnam and is listed on the US stock market, actively expanding its global production capacity [1] - The vehicles produced by VinFast are marketed in various regions, including Vietnam, Thailand, Indonesia, Malaysia, the Philippines, India, and the United States [1] Group 3: Company Profile - The company is a research-driven enterprise recognized as a national and provincial intellectual property demonstration enterprise, having passed the re-evaluation as a national intellectual property advantage enterprise [1] - The company emphasizes technological innovation and product research and has extensive experience in the industrialization of scientific and technological achievements, supported by a comprehensive research and development system [1]

证券代码：002488 证券简称：金固股份 编号：2026-001 浙江金固股份有限公司 根据《深圳证券交易所上市公司自律监管指引第 9 号——回购股份》等相 关规定，公司在回购期间应当在每个月的前 3 个交易日内公告截至上月末的回购 进展情况。现将公司回购进展情况公告如下： 一、回购股份的进展情况 截至 2025 年 12 月 31 日，因公司正在办理开立回购专用证券账户等事宜， 公司尚未实施回购。 二、其他说明 公司后续将根据《上市公司股份回购规则》《深圳证券交易所上市公司自律 监管指引第 9 号——回购股份》的相关规定及公司股份回购方案，在回购期限内 根据市场情况择机实施本次回购计划，并按照相关法律法规的规定及时履行信息 披露义务，敬请广大投资者注意投资风险。 关于股份回购进展情况的公告 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。 浙江金固股份有限公司（以下简称"公司"或"金固股份"）2025 年 12 月 9 日召开的公司第六届董事会第十五次会议审议通过了《关于回购公司股份方案 的议案》，同意使用公司自有资金及自筹资金以集中竞价方式回购公司股份，回 ...

证券代码：002488 证券简称：金固股份 编号：2026-002 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。 上述项目预计在今年九月量产，预计对公司本年度的收入及利润水平产生 影响。 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"金固股份"或"公司"）于近日收到越 南头部新能源造车新势力 VinFast（以下简称"客户"）的定点通知书，公司将 作为客户的一级零部件供应商为其开发和供应乘用车车轮产品，公司将按照客户 的要求完成产品开发和交付工作。 二、对公司的影响 VinFast 是越南第一家本土品牌汽车制造商，是美股上市公司，同时正在积 极进行全球产能布局，其生产的车型销往越南、泰国、印尼、马来西亚、菲律宾、 印度、美国等市场。此次获得定点的新项目，有助于公司进一步开拓东南亚市场， 加速推进公司东南亚以及全球市场的战略 ...

每经AI快讯，金固股份1月5日晚间发布公告称，截至2025年12月31日，因公司正在办理开立回购专用 证券账户等事宜，公司尚未实施回购。 每经头条（nbdtoutiao）——秒光！1499元飞天茅台上线即空，i茅台App冲上苹果购物榜第一，10万用 户已下单！经销商同价做回馈，1000箱很快卖完 （记者 曾健辉） ...

Core Viewpoint - The company, Jingu Co., Ltd. (002488.SZ), has received a notification from VinFast, a leading Vietnamese electric vehicle manufacturer, to become a primary parts supplier for passenger car wheels, which will enhance its market presence in Southeast Asia and support its global strategic layout [1] Group 1: Company Developments - Jingu Co., Ltd. will develop and supply passenger car wheel products according to VinFast's requirements [1] - The project is expected to enter mass production in September this year, which will impact the company's revenue and profit levels for the current fiscal year [1] Group 2: Industry Context - VinFast is the first domestic automotive brand in Vietnam and is listed on the US stock market, actively expanding its global production capacity [1] - The vehicles produced by VinFast are sold in various markets, including Vietnam, Thailand, Indonesia, Malaysia, the Philippines, India, and the United States [1] Group 3: Company Strengths - The company is a research-driven enterprise and has been recognized as a national and provincial intellectual property demonstration enterprise [1] - It has a strong emphasis on technological innovation and product research and development, with a comprehensive research and development system in place [1]

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]

Core Viewpoint - The company is transitioning from a wheel manufacturer to a diversified new materials technology platform, focusing on high-performance, low-cost products like the Avatar low-carbon wheels [1] Group 1: Business Transformation - The company is evolving from a "single product supplier" to a "new materials technology platform" through strategic transformation [1] - The integration of new materials with the core wheel manufacturing business is aimed at enhancing product performance and reducing costs [1] Group 2: Strategic Partnerships - The company has signed a strategic cooperation agreement with Ninebot Technology Co., Ltd. to expand into the two-wheeler wheel and frame market [1] - Collaborations have been established with companies like Zhiyuan Robotics, Luming Robotics, and Zhishen Technology to promote the application of new materials [1] Group 3: Market Expansion - The company is entering the emerging electric two-wheeler market, leveraging existing technological advantages for rapid market entry [1] - The establishment of Hangzhou Jingu Embodied Intelligent Technology Co., Ltd. aims to attract professional talent and drive the implementation of new materials like Avatar niobium micro-alloys [1]

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。 ...