Investment Rating - The report gives a "Buy" rating for the company, JinGu Co., Ltd. [6][64] Core Viewpoints - JinGu Co., Ltd. has been deeply engaged in the wheel industry for nearly 30 years, transitioning its product line towards high-value-added alloy wheels, particularly focusing on niobium micro-alloy wheels. The company has shown stable revenue growth and improved profitability due to product structure upgrades and increased sales of high-margin new products [3][4][6]. - The global automotive wheel market is projected to grow significantly, with a compound annual growth rate (CAGR) of approximately 6.3% from 2024 to 2034, providing a favorable environment for JinGu's innovative products to replace traditional wheels [4][36]. - The company is actively exploring horizontal applications for its niobium micro-alloy materials, which have shown potential in various industries, including robotics and electric two-wheel vehicles, thereby creating new growth opportunities [5][58][59]. Summary by Sections 1. Company Overview - JinGu Co., Ltd. focuses on the research, manufacturing, and sales of automotive wheels, maintaining a stable revenue structure with approximately 65% of its income from steel and assembled wheels. The company is transitioning towards high-value-added products, particularly niobium micro-alloy wheels [3][17][26]. 2. Market Potential - The global automotive wheel market is expected to reach approximately 48.68 billion USD in 2024, with a forecasted growth to around 90 billion USD by 2034. The demand for lightweight wheels is increasing, particularly in the electric vehicle sector, which requires enhanced energy efficiency [4][36][38]. 3. Competitive Advantages - JinGu's unique niobium micro-alloy technology allows for significant weight reduction, cost savings, and lower carbon emissions, positioning the company favorably against traditional aluminum and steel wheels. The company has established strong relationships with leading domestic and international automotive manufacturers [4][45][46]. 4. Financial Projections - The company is projected to achieve revenues of 44.3 billion, 57.9 billion, and 72.5 billion CNY from 2025 to 2027, with corresponding net profits of 0.7 billion, 2.4 billion, and 4.6 billion CNY, reflecting substantial growth rates [6][64]. 5. Investment Recommendations - Given the company's long-standing expertise in the wheel industry and its innovative product offerings, it is expected to provide significant performance and valuation flexibility. The report suggests that JinGu's unique product capabilities and strategic partnerships will drive future growth [6][64].

格隆汇12月16日丨金固股份(002488.SZ)公布，公司于近日收到公司合计持股5%以上股东河北中重冷轧 材料有限公司、河北纵横集团丰南钢铁有限公司出具的《关于股份减持触及1%整数倍情况的告知 函》：河北中重冷轧材料有限公司于2025年12月15日通过集中竞价交易方式减持公司股份20万股，占公 司总股本的0.02%。本次减持后，持股5%以上一致行动人股东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持有公司股份5956.12万股，持股比例由6.00%下降至5.98%，变动触及1%的整数 倍。 ...

金固股份公告称，近日收到合计持股5%以上股东河北中重冷轧材料有限公司、河北纵横集团丰南钢铁 有限公司告知函。2025年12月15日，河北中重冷轧材料有限公司通过集中竞价交易减持20万股，占总股 本0.02%。本次减持后，二者合计持股降至59,561,187股，持股比例由6.0035%降至5.9834%，变动触及 1%整数倍。此次减持不涉及减持预披露，符合相关规定。 ...

证券代码：002488 证券简称：金固股份 编号：2025-058 浙江金固股份有限公司 关于 5%以上股东减持股份触及 1%整数倍的公告 股东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保证向 本公司提供的信息内容真实、准确、完整，没有虚假记载、误导性陈述或重大 遗漏。 4 ．承诺、 计划等履行情况 本次变动是否为履行已作出的承诺、意 向、计划 是□ 否☑ 如是 ，请说明承诺、 意向、 计划的具 体情况及履行进度。 本次变动是否存在违反《证券法》《上市 公司收购管理办法》等法律、 行政法规、 部门规章、 规范 性文件和本所业务规则 等规定的情况 是□ 否☑ 如是 ，请说明违规的具体情况、 整改计 划和处理措施。 5 ．被限制表决权的股份情况 按照《证券法》第六十三条的规定 ，是 否存在不得行使表决权的股份 是□ 否☑ 如是 ，请说明对应股份数量及占现有上 市公司股本的比例。 6 ．30%以上股东增持股份的说明（不适用） 本次增持是否符合《上市公司收购管理办 法》规定的免于要约收购的情形 是□ 否□ 股东及其一致行动人法定期限内不减持 公司股份的承诺 7 ．备查文件 1 ．中国证券登记结算有限责任公 ...

Core Viewpoint - The company claims that its newly developed Avatar niobium micro-alloy material has significant advantages over traditional steel wheels and aluminum alloy wheels, including high strength, good toughness, low cost, and reduced carbon emissions [2]. Group 1: Product Advantages - The Avatar niobium micro-alloy material can achieve a maximum strength of 2000 MPa after processing, which is approximately twice that of titanium alloys and five times that of aluminum alloys [2]. - The material's properties enable effective weight reduction, cost savings, and lower carbon emissions [2]. Group 2: Market Impact - The company anticipates that its low-carbon Avatar wheels will gradually replace traditional wheels in the market [2].

Core Viewpoint - The company is actively developing its new materials industry based on Avatar niobium microalloy, with plans for material cluster formation and application in various sectors [1] Group 1: New Material Development - The company has successfully mass-produced Avatar niobium microalloy materials for the wheel industry [1] - The company is continuously iterating and upgrading material formulations to explore applications of Avatar niobium microalloy in industrial upgrade sectors [1] Group 2: Strategic Initiatives - The company has established "Hangzhou Jingu Embodied Intelligent Technology Co., Ltd." and an embodied intelligence division to advance product development in the field of embodied intelligence, including robotic structural components [1] - The company is also expanding its layout in other metal materials such as magnesium alloys and aluminum alloys, as well as in composite materials like modified plastics and carbon fibers [1]

Core Viewpoint - The company JinGu Co., Ltd. has developed a new material called Avatar niobium microalloy, which has shown significant potential for application in various industries, particularly in the wheel sector and robotics [2]. Group 1: Material Characteristics - The Avatar niobium microalloy is characterized by high strength, good toughness, low cost, and low carbon emissions, making it suitable for a wide range of applications [2]. Group 2: Current and Potential Applications - The material is currently being mass-produced in the wheel industry and has also been applied in robotic structural components [2]. - The company is actively pursuing the application of Avatar materials in the smart electric two-wheeler sector [2].

证券代码：002488 证券简称：金固股份 编号：2025-057 浙江金固股份有限公司 关于回购股份事项前十名股东和前十名无限售条件股东 持股情况的公告 董事会 2025 年 12 月 11 日 序号 股东名称 持股数量 （股） 占无限售流 通股份比例 （%） 1 南宁产投新兴一号投资基金合伙企业（有限合伙） 50,095,742 5.44 2 合肥东鑫产投创业投资合伙企业（有限合伙） 50,095,742 5.44 3 合肥产投兴巢低碳创业投资合伙企业（有限合伙） 50,095,742 5.44 4 孙金国 39,824,825 4.33 5 河北纵横集团丰南钢铁有限公司 35,176,576 3.82 6 杭州上市公司稳健发展引导基金合伙企业（有限合 伙） 31,850,191 3.46 7 孙锋峰 25,118,356 2.73 8 河北中重冷轧材料有限公司 24,584,611 2.67 9 天津盛隆环保科技有限公司 24,277,588 2.64 10 海南永蓝能源科技有限责任公司 23,748,550 2.58 二、前十名无限售条件股东持股情况 浙江金固股份有限公司（以下简称"公司"）于 202 ...

证券日报网讯12月10日，金固股份（002488）在互动平台回答投资者提问时表示，近期股价波动已引起 公司高度重视，公司正在积极评估多种可行方案，以增强市场信心。公司将持续关注市场动态，并依法 履行信息披露义务，确保及时向投资者传达进展。 ...

证券日报网讯12月10日，金固股份（002488）在互动平台回答投资者提问时表示，2025年10-11月，阿 凡达车轮销售延续了积极态势。公司通过产能优化为长期向好奠定基础。 ...