Core Viewpoint - The company Jinfei Kaida (002863.SZ) has stated that its magnesium alloy electric motorcycle wheel products utilize high-pressure casting technology and do not currently involve semi-solid forming equipment [1] Group 1 - The company specializes in magnesium alloy electric motorcycle wheels [1] - The manufacturing process involves high-pressure casting [1] - There is no current use of semi-solid forming technology in production [1]

Core Viewpoint - The company has initiated a technical collaboration with a well-known domestic magnesium alloy materials research team to develop technologies in high-pressure casting and semi-solid high-pressure casting of magnesium alloys [2] Group 1: Technical Development - The company is actively engaged in the substantial development phase of magnesium alloy electric motorcycle wheels [2] - Magnesium alloy automotive wheels based on semi-solid forming have been included in the company's product upgrade plan [2]

Core Viewpoint - The announcement indicates that the shareholder Jinfei Holdings has pledged 35 million shares, representing 22.50% of its holdings and 5.84% of the total share capital, to Zheshang Bank for operational purposes, with a subsequent release of the same shares the following day [1] Summary by Relevant Sections - **Share Pledge Details** - Jinfei Holdings pledged 35 million shares on November 25, 2025, and will release the same amount on November 26, 2025 [1] - The original pledge date was May 11, 2021 [1] - **Current Pledge Status** - As of the announcement date, Jinfei Holdings and its concerted parties have pledged a total of 124 million shares, which accounts for 61.26% of their combined holdings and 20.68% of the company's total share capital [1] - The company assesses that the pledge risk is manageable [1]

证券代码：002863 证券简称：今飞凯达 公告编号：2025-080 浙江今飞凯达轮毂股份有限公司 关于股东部分股份质押及解除质押的公告 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。 浙江今飞凯达轮毂股份有限公司（以下简称"公司"）接到股东今飞控股集 团有限公司（以下简称"今飞控股"）通知，获悉今飞控股将其所持有的本公司 部分股份办理质押及解除质押业务，具体事项如下： | 是否为 | 控股股 | 本次 | | | | | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 是否 | 东或第 | 质押 | 占其所 | 占公司 | 是否 | 质押开始日 | 股东 | 为补 | 质押到期 | 质押 | | | | | | | | 一大股 | 数量 | 持股份 | 总股本 | 为限 | 期（逐笔列 | 质权人 | 名称 | 充质 | 日 | 用途 | 东及其 | （万 ...

Core Viewpoint - The company is actively engaging in technological collaboration with a well-known domestic magnesium alloy research team to develop high-pressure casting and semi-solid high-pressure casting in the magnesium alloy sector [1]. Group 1: Technological Development - The company has entered a substantial development phase for magnesium alloy electric motorcycle wheels [1]. - Magnesium alloy automotive wheels based on semi-solid forming have been included in the company's product upgrade plan [1]. Group 2: Industry Trends - Industry-leading companies are advancing the industrialization of magnesium/aluminum alloy semi-solid injection molded wheels, which offer significant advantages in lightweighting and yield improvement [3]. - The company is evaluating the feasibility of introducing semi-solid forming technology and is considering technical connections with relevant equipment manufacturers and material suppliers [3].

Core Viewpoint - The company is collaborating with a well-known domestic magnesium alloy material research team to develop technologies in high-pressure casting and semi-solid high-pressure casting of magnesium alloys [2] Group 1: Technology Development - The company has initiated substantial development of magnesium alloy electric motorcycle wheels [2] - Magnesium alloy automotive wheels based on semi-solid forming have been included in the company's product upgrade plan [2]

Group 1 - The core point of the article is that Jinfei Kaida (002863.SZ) has confirmed that its casting machines are domestically produced [1] Group 2 - The company engaged with investors through an interactive platform to provide this information [1]

证券代码：002863 证券简称：今飞凯达 公告编号：2025-079 浙江今飞凯达轮毂股份有限公司 关于股东部分股份质押及解除质押的公告 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。 浙江今飞凯达轮毂股份有限公司（以下简称"公司"）接到股东今飞控股集 团有限公司（以下简称"今飞控股"）通知，获悉今飞控股将其所持有的本公司 部分股份办理质押及解除质押业务，具体事项如下： 二、股东股份解除质押基本情况 | 股东 | 是否为控股 股东或第一 | 本次解除质 | 占其所持股 | 占公司总 | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 名称 | 大股东及其 | 押股份数量 | 份比例 | 股本比例 | 起始日 | 解除日期 | 质权人 | | | 一致行动人 | （万股） | | | | | | | 今飞 | 是 | 3,500 | 22.50% | 5.84% | 2021-05-06 | 2025-11-21 | 浙商银行股份有 | | 控股 | | | | | | | 限公司金华分行 | ...

Core Viewpoint - China is a significant player in the global aluminum die-casting alloy industry, with the market size expected to reach 215.26 billion yuan in 2024, reflecting a year-on-year increase of 3.67% driven by the automotive market, electronics industry, and high-end equipment manufacturing [1][10]. Industry Overview - Aluminum die-casting alloys are produced through die-casting processes, primarily composed of silicon, manganese, magnesium, and trace elements, with production involving melting, refining, molding, and pouring [3]. - The industry benefits from the lightweight, high strength, and corrosion resistance of aluminum die-casting alloys, which are widely used in automotive, aerospace, medical, military, and electronic sectors [3]. Market Size and Growth - The aluminum die-casting alloy market in China is projected to grow, supported by the country's large automotive market and rapid advancements in the electronics sector [1][10]. - The global aluminum die-casting alloy market is expected to reach $142.78 billion by 2024, with a compound annual growth rate (CAGR) of 5.0% from 2024 to 2031 [10]. Competitive Landscape - International companies like Nemak, Ahresty, and Ryobi dominate the industry due to their technological expertise and extensive market presence [10]. - Domestic companies such as Aikodi, Wencan Group, and Guangdong Hongtu are emerging as significant players, benefiting from China's market demand and industrial support [10]. Industry Trends - The industry is moving towards precision and high performance, driven by the increasing quality and performance requirements from the automotive sector, especially for electric vehicles [12]. - There is a growing demand for customized solutions, necessitating improved customer communication and tailored product designs [13]. - The industry is also expanding into international markets, seeking to enhance competitiveness and brand influence through global partnerships and participation in international events [14].

Group 1: Business Strategy and Market Positioning - The company is focusing on structural adjustments in the domestic OEM market to enhance high-margin and high-growth business lines while reducing reliance on low-margin segments [3] - The new Anhui factory, operational since September 2025, is expected to solidify order growth by serving major automotive clients like Chery and BYD [3] - The domestic AM market is projected to grow significantly, with the company leveraging digital platforms to explore new business models [3] Group 2: International Expansion and Production Capacity - The second phase of the Thailand factory is set to commence production, targeting overseas OEM clients and benefiting from tariff advantages [4] - The company has established partnerships with key players in Southeast Asia, enhancing its competitive edge in the international market [4] - The dual development model of OEM and AM markets, along with the expansion into motorcycle wheel production, is expected to drive revenue growth [4] Group 3: Product Development and Innovation - The company plans to introduce a forging production line for lightweight and high-strength wheels, with production expected to start next year [6] - The magnesium-aluminum alloy wheels are currently in the product verification stage, with potential for mass production based on market demand [9] - The company is actively investing in robotics technology, with plans to develop core components and expand into high-end equipment manufacturing [7] Group 4: Financial Performance and Market Dynamics - The company employs an aluminum price linkage strategy to mitigate the impact of raw material price fluctuations [6] - The overseas AM market has a higher gross margin due to the diverse product offerings and tariff advantages, making it more profitable than the domestic OEM market [10] - The company anticipates a strong order pipeline for the fourth quarter, aligning with the peak production season [6]