证券代码：002870 证券简称：香山股份 公告编号：2025-020 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。 广东香山衡器集团股份有限公司（以下简称"公司"）董事会近日收到公司 非独立董事徐彬先生递交的书面辞职报告，因公司内部工作调整，需要其长期在 境外负责海外子公司的运营工作，徐彬先生申请辞去公司第七届董事会非独立董 事和第七届董事会战略委员会委员职务。辞职后，徐彬先生将继续在公司担任其 他职务。徐彬先生的辞职不会导致公司董事会成员低于法定最低人数，不会影响 公司董事会正常运作。 截至书面辞职报告递交日，徐彬先生未持有公司股票，亦不存在应当履行而 未履行的承诺事项。根据《中华人民共和国公司法》及《公司章程》的有关规定， 徐彬先生的辞职报告自送达董事会时生效。 徐彬先生在任职董事期间恪尽职守、勤勉尽责，公司及董事会向徐彬先生为 公司经营和发展所作出的积极贡献表示衷心感谢！ 特此公告。 二〇二五年四月十七日 广东香山衡器集团股份有限公司 关于董事辞职的公告 广东香山衡器集团股份有限公司董事会 ...

香山股份（002870）公告，公司非独立董事徐彬因公司内部工作调整，申请辞去第七届董事会非独立董 事和战略委员会委员职务。辞职后，徐彬将继续在公司担任其他职务。徐彬未持有公司股票，辞职不会 导致董事会成员低于法定最低人数。 ...

证券代码：002870 证券简称：香山股份 公告编号：2025-019 广东香山衡器集团股份有限公司 关于召开2024年年度股东大会的提示性公告 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、误导性陈述或者重大遗漏。 广东香山衡器集团股份有限公司（以下简称"公司"）于2025年3月27日召 开了第七届董事会第2次会议，决议于2025年4月22日召开公司2024年年度股东 大会，公司已于2025年3月28日在《证券时报》《证券日报》《上海证券报》《中 国证券报》及巨潮资讯网（www.cninfo.com.cn）披露了《关于召开2024年年度 股东大会的通知》，现将本次股东大会的有关事项提示公告如下： 一、召开会议的基本情况 （一）股东大会届次：2024年年度股东大会 （二）股东大会的召集人：公司董事会 （三）会议召开的合法合规性说明：公司第七届董事会第2次会议审议通过了 《关于提请召开公司2024年年度股东大会的议案》，本次股东大会的召开符合有关 法律、行政法规、部门规章、规范性文件、深交所业务规则和《公司章程》等的规 定。 （四）会议召开的日期和时间 1、现场会议时间：2025年4 ...

香山股份在全球拥有5个研发中心，15个制造基地，公司的全球化布局并非简单的产能转移，而是以"区 域需求驱动区域供给"为核心逻辑。通过在欧洲、北美等关键市场建立本地化研发、生产与服务体系， 公司形成了"就近研发、就近生产、就近交付"的闭环生态。例如，针对美国市场，香山股份通过墨西哥 生产基地及美国研发中心的战略协同，将供应链深度嵌入北美区域，以动态成本优化机制对冲高额关税 风险，稳固市场竞争力。同时，欧洲研发中心聚焦本地车企需求，推出定制化解决方案，助力客户缩短 交付周期并降低采购风险。这种区域化策略不仅优化了运营成本，更强化了与全球头部客户的战略黏 性。 近年来，全球贸易环境风云变幻，关税壁垒与地缘政治风险持续加剧。尤其是美国针对进口商品的多轮 加征关税政策，使依赖单一市场的企业面临严峻挑战。作为服务全球的资深零部件企业，香山股份凭 借"全球布局、本地深耕"的战略思维，通过产业链整合与灵活的区域协同机制，在逆势中展现出强大的 抗风险能力，为资本市场注入信心。 区域化运营贴近市场 降低贸易壁垒冲击 技术协同与垂直整合 强化供应链自主性 面对贸易壁垒的升级，香山股份早年通过并购与战略投资构建的全球技术网络与垂直整 ...

Core Viewpoint - The stock of Xiangshan Co., Ltd. (002870) experienced a decline of 4.18% on April 3, 2025, closing at 33.73 yuan, with a trading volume of 24,700 shares and a turnover of 84.16 million yuan [1]. Trading Information Summary - On the same day, the main capital saw a net inflow of 3.77 million yuan, accounting for 4.47% of the total turnover; however, retail investors experienced a net outflow of 682,000 yuan, representing 0.81% of the total turnover [2][5]. Shareholder Changes - On April 3, 2025, Xiangshan Co. announced that its shareholder, Ningbo Joyson Electronic Corp., increased its holdings by 642,600 shares on April 2, 2025, which is 0.4865% of the company's total share capital. During this period, the stock price rose by 2.0%, closing at 35.2 yuan on April 2 [3]. Company Announcement Summary - The controlling shareholder, Ningbo Joyson Electronic Corp., completed its shareholding increase plan, which was initiated on December 16, 2024. Over the course of this plan, it acquired a total of 7,444,600 shares, representing 5.6366% of the total share capital, with a total investment of approximately 257.13 million yuan. Following this increase, its total holdings rose from 32,037,000 shares to 39,481,600 shares, increasing its ownership percentage from 24.2566% to 29.8932% [4][5].

证券代码：002870 证券简称：香山股份 公告编号：2025-018 广东香山衡器集团股份有限公司 自 2024 年 12 月 16 日至 2025 年 4 月 2 日，均胜电子通过深圳证券交易所 集中竞价和大宗交易方式累计增持公司股份 7,444,600 股，占公司总股本的 5.6366%，累计增持金额为人民币 257,134,021 元（不含手续费），均胜电子本次 增持计划已实施完毕。具体情况如下： | | | 增持时间 | | | | 增持股数 | 增持金额 | 占公司总股本 | 增持方式 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | | | （股） | （元） | 比例 | | | 2025 | 年 1 | | 月 | 22 | 日至 | 982,000 | 30,964,884 | 0.7435% | 集中竞价 | | 2025 | 年 2 | 月 | 10 | | 日 | | | | | | 2025 | 年 2 | | 月 | 18 | 日至 | 1,016,600 | 36,146,927 ...

证券代码：002870 证券简称：香山股份 公告编号：2025-017 广东香山衡器集团股份有限公司 关于控股股东增持比例超过1%暨增持计划的进展公告 1．基本情况 信息披露义务人 宁波均胜电子股份有限公司 住所 浙江省宁波市高新区清逸路 99 号 权益变动时间 2025 年 3 月 1 日-2025 年 4 月 1 日 股票简称 香山股份 股票代码 002870 变动类型 （可多选） 增加■ 减少□ 一致行动人 有□ 无■ 是否为第一大股东或实际控制人 是■ 否□ 2．本次权益变动情况 股份种类 增持股数 增持比例 A 股 839,000 股 0.6352% 合 计 839,000 股 0.6352% 本次权益变动方式 （可多选） 通过证券交易所的集中交易 ■ 通过证券交易所的大宗交易 □ 其他 □（请注明） 本次增持股份的资金 来源（可多选） 自有资金 ■ 银行贷款 ■ 其他金融机构借款 □ 股东投资款 □ 其他 □（请注明） 不涉及资金来源 □ 3．本次变动前后，投资者及其一致行动人拥有上市公司权益的股份情况 股份性质 本次变动前持有股份 本次变动后持有股份 股数 (股) 占总股本 比例 股数 (股) ...

Core Insights - In 2024, Xiangshan Co., Ltd. (002870.SZ) achieved a revenue of 5.902 billion yuan and a net profit attributable to shareholders of 155 million yuan, showcasing a robust financial foundation and innovative strategic layout for high-quality development [1] - The company has established a global presence with R&D centers in China, Germany, and North America, and 15 production bases, enhancing its international competitiveness and providing substantial returns to investors [1] - Xiangshan Co. is focusing on the trillion-yuan market, accelerating global market penetration and ecosystem integration, particularly in smart cockpit, intelligent cleaning systems, and new energy charging and distribution sectors [1] Business Performance - Subsidiary Junsheng Qunying specializes in the design, development, manufacturing, and sales of smart cockpit components and new energy charging and distribution systems, serving as a global tier-one supplier for numerous well-known automotive brands [2] - Junsheng Qunying's air management system has ranked first in domestic market share and second globally from 2019 to 2023, and has been recognized as a national champion product [2] - The company is expanding its product range in the new energy charging and distribution system sector, responding to national calls for low-altitude economy development, and has secured production rights for Xiaopeng's flying car project [2] R&D and Strategic Initiatives - To support high-quality development, the company increased its R&D investment to 539 million yuan in 2024, a year-on-year growth of 17.75%, and has obtained over 600 authorized patents [3] - Junsheng Electronics became the controlling shareholder in 2024, enhancing strategic synergy and overall competitiveness, with plans to increase its stake in the company by 150 to 250 million yuan [3] - The company aims to drive its strategic layout in smart cockpit and new energy vehicle supply chains through the support of its controlling shareholder, while continuing to promote "Chinese manufacturing" on the global stage [3]

Core Viewpoint - The company reported a slight increase in revenue for 2024, but net profit and adjusted net profit saw declines, indicating challenges in maintaining profitability amidst market pressures [1][2]. Financial Performance - The company achieved a total revenue of 5.902 billion yuan in 2024, a year-on-year increase of 1.97%, while the net profit attributable to shareholders was 155 million yuan, a decrease of 3.67% [1]. - The adjusted net profit was 151 million yuan, down 27.49% year-on-year, with an earnings per share (EPS) of 1.18 yuan [1]. - In Q4 2024, revenue was 1.5 billion yuan, a year-on-year decrease of 8.45%, but a quarter-on-quarter increase of 3.64% [1]. Customer and Market Dynamics - Sales declines in luxury brand clients, particularly BBA (Audi, BMW, and Mercedes-Benz), negatively impacted revenue growth, with Audi's global sales down 12%, Mercedes-Benz down 3%, and BMW down 4% [2]. - The company’s top five clients accounted for 68.34% of revenue, a decrease of 5.32 percentage points year-on-year, indicating reduced customer concentration [2]. - Revenue from automotive intelligent cockpit components, new energy vehicle parts, and other products was 4.099 billion yuan, 989 million yuan, and 769 million yuan, with year-on-year changes of -0.71%, +4.49%, and +14.34% respectively [2]. Profitability and Cost Structure - The adjusted gross margin increased by 0.17 percentage points to 24.17%, with variations across product lines [2]. - R&D expenses rose by 26.97% to 429 million yuan, reflecting significant investment in new product development, particularly in the low-altitude economy sector [3]. - The company’s sales, management, and financial expense ratios increased, indicating higher operational costs associated with new growth strategies [3]. Strategic Developments - The change in controlling shareholder to Junsheng Electronics is expected to enhance strategic collaboration and competitiveness in the intelligent cockpit product sector [3]. - Junsheng Electronics plans to increase its stake in the company by 150 million to 250 million yuan, demonstrating confidence in the company's future [3]. Future Outlook - Revenue projections for 2025 to 2027 are 6.512 billion yuan, 7.065 billion yuan, and 7.556 billion yuan, with net profits expected to reach 180 million yuan, 200 million yuan, and 219 million yuan respectively [4]. - The projected diluted EPS for the same period is 1.36 yuan, 1.51 yuan, and 1.66 yuan, with corresponding price-to-earnings ratios of 26.50, 23.82, and 21.73 [4].

Core Viewpoint - The financial performance of Xiangshan Co., Ltd. in 2024 is disappointing, with a slight increase in revenue but significant declines in net profit and non-recurring net profit, highlighting challenges in smart transformation and overseas market expansion [1][4]. Automotive Parts Business: Smart Transformation Below Expectations - The automotive parts business, primarily managed by subsidiary Junsheng Qunying, includes smart cockpit and new energy charging and distribution systems. Despite over 20 years of experience in the smart cockpit sector and recognition for its air management system, the performance in 2024 was unsatisfactory [2]. - Growth in the smart cockpit segment is sluggish, with new products like electric air outlets and smart luxury trims failing to drive overall performance due to slow market adoption [2]. - The new energy charging and distribution system faces challenges, with overseas production capacity still ramping up and not fully released, negatively impacting profitability [2]. Weighing Business: Steady Growth but Lack of Innovation - The weighing business achieved sales revenue of 769 million yuan in 2024, a year-on-year increase of 14.34%, indicating stable growth [3]. - However, the business suffers from insufficient innovation, relying heavily on existing products for market promotion and channel expansion, lacking breakthrough new products to stand out in a competitive market [3]. - The international expansion of the weighing business is relatively slow, failing to capitalize on global market growth potential [3]. Financial Performance: Declining Net Profit and Increased Cash Flow Pressure - The financial results for 2024 show a decline in both net profit and non-recurring net profit, with the latter down 27.49% year-on-year, indicating weakened profitability in core operations [4]. - Cash flow pressure is increasing, with net cash flow from operating activities at 713 million yuan, a decrease of 15.75% year-on-year. Although cash flow from financing activities increased by 956 million yuan, cash flow from investment activities was -854 million yuan, reflecting significant funding pressure for production and R&D expansion [4]. - Overall, the company faces challenges in smart transformation and international expansion, with the need to address these issues for future growth [4].