Group 1 - The core viewpoint of the article is that Del's solid-state batteries have diverse applications in various fields such as new energy vehicles, robotics, consumer electronics, energy storage, and low-altitude aircraft [1] - The company maintains an open attitude towards collaboration with downstream customers in the solid-state battery sector [1]

Group 1 - The company is currently focusing on the oxide electrolyte route for solid-state batteries due to its more mature manufacturing processes and technology, which facilitate mass production [2] - The company is continuously monitoring the sulfide technology route for solid-state batteries, indicating an openness to future developments in this area [2]

Group 1 - The core point of the news is that Del Shares experienced a decline of 5.1% on September 10, with a stock price of 33.30 yuan per share, a trading volume of 246 million yuan, a turnover rate of 4.81%, and a total market capitalization of 5.027 billion yuan [1] - Del Shares, established on November 12, 2004, and listed on June 12, 2015, is based in Fuxin City, Liaoning Province, and specializes in the research, production, and sales of automotive components such as steering pumps, gear pumps, automatic transmission oil pumps, electric power steering system (EPS) motors, hydraulic pumps, and keyless entry and start systems [1] - The main business revenue composition includes noise reduction, thermal insulation, and lightweight products at 73.77%, motors, pumps, and mechanical pumps at 24.42%, electronic control and automotive electronics at 1.07%, and others at 0.73% [1] Group 2 - From the perspective of major circulating shareholders, a fund under AVIC Fund ranks among the top ten circulating shareholders of Del Shares, with the AVIC New Start Flexible Allocation Mixed A Fund (005537) newly entering the top ten in the second quarter, holding 1.0319 million shares, accounting for 0.69% of circulating shares [2] - The AVIC New Start Flexible Allocation Mixed A Fund (005537) has a latest scale of 19.9238 million, with a year-to-date return of 90.89%, ranking 41 out of 8177 in its category, and a one-year return of 118.82%, ranking 173 out of 7982 [2] - The fund manager of AVIC New Start Flexible Allocation Mixed A Fund is Han Hao, who has been in the position for 7 years and 273 days, with a total asset scale of 1.788 billion yuan, achieving a best fund return of 200.17% and a worst fund return of -13.11% during his tenure [3] Group 3 - The AVIC New Start Flexible Allocation Mixed A Fund increased its holdings in Del Shares by 676,900 shares in the second quarter, bringing its total holdings to 1.0319 million shares, which represents 7.32% of the fund's net value, making it the sixth-largest holding [4]

Core Viewpoint - Del Shares (300473) has responded to the Shenzhen Stock Exchange's inquiry regarding the acquisition of assets and fundraising, focusing on the operational status and development prospects of Aizhuo Intelligent Technology (Shanghai) Co., Ltd. [1] Group 1: Performance and Growth - Aizhuo Intelligent's revenue is projected to grow from 216.33 million yuan in 2023 to 364.62 million yuan in 2024, representing a growth rate of 68.95%, significantly higher than the industry average of 15.98% [2] - The net profit attributable to the parent company is expected to increase by 65.42%, also surpassing the industry average of 26.48% [2] - The revenue growth is primarily driven by increased orders from major clients such as Jiangsu Changshu Automotive Trim Group Co., Ltd. and China FAW Group Co., Ltd. [2] - Aizhuo Intelligent's products are widely used in popular models from brands like Hongqi and Chery, with significant revenue contributions from specific models [2] Group 2: Cost and Efficiency - The average procurement cost of key raw materials has decreased due to changes in product revenue structure and procurement scale benefits [3] - Aizhuo Intelligent's sales expense ratio is lower than the industry average, attributed to a mature model for developing new clients and projects, along with a streamlined sales team [3] Group 3: Assessment and Forecast - The revenue assessment for key models is based on historical data and market conditions, ensuring a cautious and achievable forecast [4] - The projected decline in material cost ratio is justified by business scale growth and improved yield rates [4] - The company has sufficient capacity to meet forecasted demand without the need for additional capital expenditures [4] Group 4: Fundraising and Financial Stability - Del Shares plans to raise up to 83 million yuan from no more than 35 specific investors to support Aizhuo Intelligent's projects [5] - The company has alternative funding solutions in place, including self-funding and bank loans, to address any shortfall in fundraising [5] - The fundraising outcome will not adversely affect the transaction implementation or the company's financial status [5]

Core Viewpoint - The company is responding to an inquiry regarding its asset acquisition and fundraising application, highlighting significant revenue growth and addressing specific questions about its financial performance and client relationships [1][2]. Financial Performance - The revenue of the target asset, Aizhuo Intelligent Technology (Shanghai) Co., Ltd., was reported at 216.33 million yuan and 364.62 million yuan for the respective periods, with growth attributed to increased orders from major clients [2][3]. - The revenue growth rates for the target asset were 9.93% and 68.95%, compared to industry averages of 7.93% and 15.98% [2][3]. - The net profit growth rates for the target asset were 190.90% and 65.42%, while the industry averages were 19.94% and 26.48% [2][3]. Client Relationships and Revenue Composition - The main revenue sources for the target company include film parts, which accounted for 84.99% of the main business revenue in 2024, and other business revenues were minimal [4][5]. - The company has established significant relationships with major automotive manufacturers, including FAW and Chery, which have contributed to its revenue growth [8][9]. Market Trends and Competitive Landscape - The automotive interior industry is experiencing a trend towards personalization and smart technology, driven by consumer demand for enhanced vehicle experiences [14][15]. - Domestic brands are gaining market share, leading to increased opportunities for local interior manufacturers [15][17]. - The industry is characterized by a multi-tiered supply chain, with increasing competition among suppliers, particularly in the context of rapid technological advancements and cost reduction demands from automakers [16][17]. Future Growth Potential - The company is well-positioned for future growth due to its established relationships with major automotive manufacturers and its ability to adapt to market trends [19]. - The automotive interior market is expected to continue expanding, providing a favorable environment for the company's growth [17][19].

Core Viewpoint - The report outlines the independent financial advisory services provided by Dongfang Securities for the acquisition of assets by Fuxin Del Automotive Parts Co., Ltd. through share issuance and fundraising, emphasizing the transaction's compliance with relevant regulations and its potential benefits for the company and its shareholders [1][2][3]. Group 1: Transaction Overview - The transaction involves Fuxin Del issuing shares to acquire 70% of Aizhuo Technology's equity and a zero-price acquisition of the remaining 30% from Xing Baichang Partnership, along with raising funds from no more than 35 specific investors [6][10]. - The total amount of funds raised through the share issuance is capped at 82.7 million yuan, which will be used for various projects including the smart upgrade of automotive parts and payment of intermediary fees [9][10]. Group 2: Financial Impact - The acquisition is expected to enhance the company's revenue and profit, with projections indicating an increase in total assets and net profit post-transaction [11][14]. - The financial indicators before and after the transaction show a projected increase in total assets from 369,856.66 million yuan to 409,280.69 million yuan, and net profit is expected to rise significantly [14][18]. Group 3: Shareholder Structure - Post-transaction, Shanghai Der will hold 11.22% of the shares, while the controlling shareholder's stake will decrease from 22.44% to 19.92%, indicating no change in control [12][13]. - The transaction will not alter the actual control of the company, as the major shareholders have committed to not reducing their holdings during the transaction process [15][17]. Group 4: Compliance and Governance - The company has adhered to all necessary legal and regulatory requirements throughout the transaction process, ensuring transparency and fairness for all shareholders [16][17]. - Independent financial and legal advisors have been engaged to conduct due diligence and provide professional opinions on the transaction [17][20]. Group 5: Performance Commitments - Shanghai Der has made performance commitments for the acquired company, with specific profit targets set for the next three years, ensuring accountability and potential compensation for any shortfalls [21][22]. - The company has outlined measures to mitigate any dilution of immediate returns resulting from the transaction, including enhancing operational efficiency and optimizing profit distribution policies [19][20].

Group 1 - The core point of the news is that Fuxin Del Automotive Parts Co., Ltd. plans to issue shares to acquire 70% of Aizhuo Technology and zero-price transfer of 30% of Aizhuo Technology from a related party, while raising supporting funds from no more than 35 specific investors [9][10][12] - The transaction is classified as a major asset restructuring under the relevant regulations, and it is expected to enhance the company's revenue and profit, thereby improving its sustainable profitability [14][17] - The transaction will not change the control of the company, as the controlling shareholder's stake will decrease slightly but remain significant [17][19] Group 2 - The company aims to raise up to 82.7 million yuan through the issuance of shares, with the funds primarily allocated for the smart upgrade and expansion of Aizhuo Technology's automotive parts [12][22] - The acquisition is expected to result in a significant increase in total assets, operating income, and net profit, enhancing the company's overall financial performance [17][21] - The company has committed to strict performance guarantees and compensation arrangements to mitigate the dilution of immediate returns for investors [22][23]

东方证券股份有限公司 关于 深圳证券交易所 《关于阜新德尔汽车部件股份有限公司发行股 份购买资产并募集配套资金申请的审核问询函》 回复 之核查意见（修订稿） 独立财务顾问 签署日期：二〇二五年九月 深圳证券交易所： 贵所于近日出具的《关于阜新德尔汽车部件股份有限公司发行股份购买资产 并募集配套资金申请的审核问询函》（以下简称"问询函"）已收悉。按照贵所 要求，东方证券股份有限公司（以下简称"东方证券"或"独立财务顾问"）就 问询函所提问题进行了认真分析与核查，现就有关事项回复如下。 除特别说明外，本问询函回复中所使用的释义、名称、缩略语与其在《阜新 德尔汽车部件股份有限公司发行股份购买资产并募集配套资金暨关联交易报告 书（草案）》（以下简称"重组报告书"）中的含义相同。在本问询函回复中， 若合计数与各分项数值相加之和在尾数上存在差异，均为四舍五入所致。 本问询函回复的字体代表以下含义： | 黑体（加粗） | 问询函所列问题 | | --- | --- | | 宋体 | 对问询函所列问题的回复 | | 楷体（加粗） | 对问询函所列问题的回复的修订 | 2 | 其他事项 102 | | --- | 问题 1、关 ...

《关于阜新德尔汽车部件股份有限公司发行股 份购买资产并募集配套资金申请的审核问询函》 之回复（修订稿） 众会字（2025）第 10409 号 深圳证券交易所： 贵所于近日出具的《关于阜新德尔汽车部件股份有限公司发行股份购买资产 并募集配套资金申请的审核问询函》（以下简称"问询函"）已收悉。按照贵所 要求，阜新德尔汽车部件股份有限公司（以下简称"德尔股份"、"上市公司"、 "公司"）会同东方证券股份有限公司（以下简称"东方证券"或"独立财务顾 问"）、北京市汉坤律师事务所（以下简称"汉坤律师事务所"）、众华会计师 事务所（特殊普通合伙）（以下简称"众华会计师事务所"）、金证（上海）资 产评估有限公司（以下简称"金证评估"）等相关中介机构就问询函所提问题进 行了认真分析与核查，现就有关事项回复如下。 众华会计师事务所（特殊普通合伙） 除特别说明外，本问询函回复中所使用的释义、名称、缩略语与其在《阜新 德尔汽车部件股份有限公司发行股份购买资产并募集配套资金暨关联交易报告 书（草案）》（以下简称"重组报告书"）中的含义相同。在本问询函回复中， 若合计数与各分项数值相加之和在尾数上存在差异，均为四舍五入所致。 黑体（加 ...

金证（上海）资产评估有限公司 关于 深圳证券交易所 《关于阜新德尔汽车部件股份有限公司发行股份购 买资产并募集配套资金申请的审核问询函》 之回复（修订稿） 二〇二五九月 深圳证券交易所： 根据贵所下发的《关于阜新德尔汽车部件股份有限公司发行股份购买资产并募集 配套资金申请的审核问询函》（以下简称"问询函"）的要求。金证（上海）资产评估 有限公司（以下简称"金证评估"、"评估机构"或"评估师"）就问询函所提问题进行 了认真分析与核查，现就有关事项回复如下，请予审核。 除特别说明外，本问询函回复中所使用的释义、名称、缩略语与其在《阜新德尔 汽车部件股份有限公司发行股份购买资产并募集配套资金暨关联交易报告书（草案）》 （以下简称"重组报告书"）中的含义相同。在本问询函回复中，若合计数与各分项数 值相加之和在尾数上存在差异，均为四舍五入所致。 本问询函回复的字体代表以下含义： | 黑体（加粗） | 问询函所列问题 | | --- | --- | | 宋体 | 对问询函所列问题的回复 | | 楷体（加粗） | 对问询函所列问题的回复的修订 | 上 海 市 徐 汇 区 龙 兰 路 277 号 东 航 滨 江 中 心 T3 ...