证券代码：300680 证券简称：隆盛科技 公告编号：2025-028 无锡隆盛科技股份有限公司 2024年年度权益分派实施公告 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。 特别提示： 1、无锡隆盛科技股份有限公司（以下简称"公司"）回购专用证券账户中的股 份 4,062,000 股不参与本次权益分派。因此，公司 2024 年年度权益分派方案为：以 公司实施权益分派股权登记日登记的股份总数扣减公司回购专用证券账户中的股份 为基数，向全体股东每 10 股派发现金股利人民币 2 元（含税），实际派发现金股利 45,392,455.60 元（含税），本年度不以公积金转增股本，不送红股，剩余未分配利 润结转下一年度。 2、本次权益分派实施后计算除权除息价格时，按总股本（含回购股份）折算的 每 10 股现金红利（含税）=现金分红总额÷总股本×10=45,392,455.60 元÷ 231,024,278 股×10 股=1.964834 元（保留六位小数，不四舍五入）。本次权益分派 实施后除权除息参考价=股权登记日收盘价-按总股本折算每股现金红利=股权登记 日收盘价- ...

一、股份回购进展情况 证券代码：300680 证券简称：隆盛科技 公告编号：2025-027 无锡隆盛科技股份有限公司 关于回购公司股份的进展公告 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。 无锡隆盛科技股份有限公司（以下简称"公司"）于2024年11月27日召开第五届 董事会第四次会议，并于2024年12月16日召开2024年第二次临时股东大会，审议通过 了《关于回购公司股份方案的议案》，同意公司使用自有资金和股票回购专项贷款以 集中竞价方式回购公司已发行的人民币普通股（A股）股票，回购股份将全部予以注 销并减少公司注册资本。本次回购的资金总额不低于人民币10,000万元且不超过人民 币20,000万元（含本数），回购股份价格不超过人民币40元/股，具体回购股份的数 量和金额以回购期限届满时实际回购的股份数量为准。本次回购股份的实施期限为自 股东大会审议通过回购股份方案之日起不超过12个月。具体内容详见公司在巨潮资讯 网（www.cninfo.com.cn）披露的《回购报告书》（公告编号：2024-070）等相关公 告。 根据《上市公司股份回购规定》《深 ...

Summary of Key Points from Conference Call Records Company and Industry Overview - **Companies Involved**: 金固股份 (Jingu Co., Ltd.), 隆盛科技 (Longsheng Technology), 小鹏汽车 (Xiaopeng Motors), 长城汽车 (Great Wall Motors) - **Industries**: Automotive, Industrial Automation, Robotics Key Insights and Arguments Jingu Co., Ltd. (金固股份) - Jingu plans to increase its shipment volume from 18 million to between 48 million and 55 million units over the next three to four years, aiming for over 100% growth despite high capital expenditure risks due to its asset-heavy model [1][3] - The company’s production process is vertically integrated, allowing it to reduce challenges in global expansion, particularly through its proprietary heat treatment technology [2] - High tariffs on steel and aluminum in the European and American markets are critical factors affecting Jingu's operations and profitability [1] Longsheng Technology (隆盛科技) - Longsheng is experiencing steady growth in its core business within the industrial automation and robotics sector, with strong partnerships with companies like Tesla and Seres [1][4] - The company’s main business segments include traditional commercial vehicles, new energy motor cores, and precision components, with new energy motor cores becoming its largest revenue source [5][6] - Longsheng has advanced capabilities in component R&D and iteration, positioning itself as a key supplier for Tesla and showing potential for Tier 1 partnerships in robotics [8] Xiaopeng Motors (小鹏汽车) - Xiaopeng reported a gross margin increase to 15.6% in Q1 2025, driven by economies of scale and cost reduction measures, despite a 4.7% decline in average revenue per vehicle [9] - The upcoming launch of the Mona M03 Max version is expected to boost monthly sales to 20,000 units, while the introduction of the Turing chip will enhance vehicle profitability [10] - Xiaopeng plans to release several new models throughout 2025, including the Extreme 7 and P7, which are anticipated to generate significant market interest [10] Great Wall Motors (长城汽车) - Great Wall has initiated a challenge to deliver 10,000 units of the Tank 300 monthly, reflecting confidence in the Tank series' sales growth [11] - The second quarter of 2025 is projected to be a turning point for the company, with expected net profit increases from the Russian scrappage tax and rising sales of Tank and Haval models [12] - New vehicle launches and updates, including the Ora series and modifications to the Great Wall Cannon series, are expected to enhance sales and improve the company's fundamentals [13] Additional Important Insights - Longsheng's strategic partnerships and product offerings in robotics, such as dexterous hands and harmonic reducers, indicate a strong market position and growth potential [7] - The anticipated rollout of advanced driving platforms (ADC2.0 and ADC4.0) by Great Wall Motors is expected to significantly enhance the company's product competitiveness and market image [14][15] - Great Wall's current stock valuation at 7x PE presents a compelling investment opportunity, especially in light of expected profit growth and new technology applications [16]

Core Viewpoint - The article discusses the rapid growth of plug-in hybrid electric vehicles (PHEVs) in the automotive market, highlighting the significant increase in their sales proportion within the new energy vehicle segment, which is expected to reach 40% in 2024, up 17 percentage points from 2022 [3][10]. Group 1: Company Overview - Longsheng Technology (300680.SZ) is a company involved in the PHEV sector, experiencing rapid growth over the past seven years, with its stock price reaching new highs in the secondary market [8][9]. - The company was founded in 2004 and is recognized as a national "specialized, refined, distinctive, and innovative" small giant enterprise, with its controlling shareholders being the Ni family, who hold 29.38% of the shares [12][13]. - Longsheng Technology's business has evolved from a focus on commercial diesel engine exhaust gas recirculation (EGR) systems to a diversified manufacturing service provider across multiple sectors, including new energy vehicles [15][18]. Group 2: Financial Performance - The company has achieved a compound annual growth rate (CAGR) of 51.4% in revenue from 2018 to 2023, with revenue of 1.64 billion yuan in the first three quarters of 2024, reflecting a growth of 38.5% [19][20]. - The net profit attributable to the parent company has increased significantly, with projections for 2024 indicating a net profit of 210 to 240 million yuan, representing a year-on-year growth of 43% to 63% [22][24]. - In 2023, the revenue from the new energy business reached 940 million yuan, accounting for 52% of total revenue, with expectations for further growth in 2024 [26]. Group 3: Business Segments - The company operates three main business segments: EGR systems, new energy vehicle drive motor cores, and precision automotive components, with EGR systems contributing the most to profits while new energy vehicle components generate the highest revenue [27][28]. - The EGR product segment is projected to account for 34% of revenue in the first half of 2024, while new energy vehicle components are expected to contribute 43% [28]. - The market for EGR products is relatively small, with projections indicating a potential market size of 3.22 billion yuan by 2027, growing at a CAGR of 15.6% from 2024 to 2027 [32]. Group 4: Market Dynamics - The demand for drive motor cores is expected to grow significantly, driven by the increasing number of electric vehicles and hybrid models, with the market for motor cores projected to reach 11.33 billion yuan by 2027, growing at a CAGR of 26.2% [41][42]. - The company has a concentrated customer base, with the top five customers accounting for 65% of total sales in 2023, indicating a reliance on major clients for revenue [50][51]. - The overall gross margin has declined by 7.7 percentage points from 2021 to 2022, primarily due to the lower margins in the new energy segment, with the gross margin for the EGR segment at 24.5% and for new energy components at 11.9% in the first half of 2024 [53][55].

智通财经APP获悉，民生证券发布研报称，人形机器人板块正从主题投资迈向成长投资，2025年有望成 为全球量产元年。技术端，大模型突破通用性瓶颈，DeepSeek低成本训练范式加速AGI落地；产业端， 特斯拉、英伟达、华为等科技巨头密集布局；政策端，政府工作报告明确，培育具身智能等未来产业， 大力发展智能机器人。预计2025年全球出货量将达万台级别，2027年特斯拉目标产能突破百万台，产业 链长期成长空间打开。 民生证券主要观点如下： 产业逻辑：AI赋能+巨头入局，三重驱动强化趋势 1)技术基座升级：非具身大模型实现任务分解与规划，具身大模型直接输出高频动作指令，AGI终极形 态下机器人将具备单模型闭环、主动理解与强适应能力。 2)场景成本突破：特斯拉Optimus将率先导入超级工厂，车端供应链复用推动售价降至2-3万美元，远期 规模效应下成本有望进一步下探。 3)政策密集催化：2025年政府工作报告首次将具身智能纳入未来产业培育，地方政策围绕技术攻关、产 业集群、应用示范三方面加码，形成"中央定调-地方落实"的立体支持体系。 供给维度：全球产业巨头形成多维共振 1)特斯拉：2025年计划出货数千台，2027年 ...

Core Viewpoint - Longsheng Technology (隆盛科技) is actively expanding its business in the automotive parts industry, with significant progress in various projects and a focus on new product development, particularly in the fields of aerospace precision manufacturing and humanoid robotics [1][7]. Group 1: Business Development - Longsheng Technology is developing a third-generation dexterous hand and has successfully progressed in the development of a semi-assembly project for electric drive motors for new energy commercial vehicles, with supply expected to Bosch and Seres in the second half of the year [1][8]. - The company has established a strong strategic partnership with Tesla, which is identified as a core strategic customer [1][8]. - Longsheng Technology has seen its stock price double this year, indicating strong market performance [2]. Group 2: Financial Performance - The company has experienced steady growth in operating performance, with revenue and net profit both increasing in 2023 and 2024 [1][5]. - Longsheng Technology's total assets grew from 4.62 billion yuan in 2017 to an expected 40 billion yuan by the end of 2024, representing a growth of approximately 7.66 times [3][4]. - Revenue has increased significantly, from 150 million yuan in 2017 to an expected 2.397 billion yuan in 2024, marking a growth of about 15 times [4][5]. Group 3: Research and Development - The company has made substantial investments in research and development, with expenditures rising from approximately 38.9 million yuan in 2021 to about 92.9 million yuan in 2024 [9]. - Longsheng Technology has successfully broken the foreign monopoly in the heavy truck market for EGR systems and is now achieving mass production with major domestic heavy truck manufacturers [9]. Group 4: Strategic Expansion - Longsheng Technology has expanded its business from a single focus on diesel commercial vehicle EGR systems to three core business segments: EGR systems, new energy vehicle drive motor cores, and precision automotive components [6][8]. - The company is also actively pursuing opportunities in emerging fields such as aerospace precision manufacturing and humanoid robotics, with plans to launch the "Lansen" robot in June 2024 [7][8].

Core Viewpoint - Longsheng Technology has established a three-dimensional matrix of business operations encompassing traditional automotive parts, core products for new energy vehicles, and key components for robotics, marking its evolution from a single component supplier to a system integrator [1][2]. Business Operations - Longsheng Technology's main operations include EGR (Exhaust Gas Recirculation) components, motor iron cores, drive motor assemblies, precision parts, and aerospace business [1]. - The new energy vehicle drive motor iron core business is a significant growth driver, with projected revenue of 1.034 billion yuan in 2024, representing a year-on-year increase of 29.21% [1]. - Longsheng Technology is collaborating with Bosch and Seres on new energy motor assembly projects, with mass production expected in the second half of 2025 [1][2]. Robotics Development - Longsheng Technology is actively developing robotics, particularly humanoid robots, including dexterous hands, harmonic reducers, and joint assemblies [2]. - The "Lansen" humanoid robot, set to launch in June 2024, will perform various tasks on production lines, achieving automation from perception to execution [3]. - The company is integrating its new energy vehicle drive motor technology into robotics, developing high power density and low noise joint motors [5]. Financial Performance - In 2024, Longsheng Technology reported total revenue of 2.397 billion yuan, a year-on-year increase of 31.21%, and a net profit attributable to shareholders of 224 million yuan, up 52.81% [6]. - The revenue growth rate is lower than the profit growth rate, indicating an increase in the proportion of high-margin businesses and improved cost control [6]. - For Q1 2025, the company achieved revenue of 606 million yuan, a year-on-year increase of 7.06%, and a net profit of 59 million yuan, up 11.41% [6].

Core Viewpoint - Longsheng Technology is focusing on the aerospace precision manufacturing sector as one of its main business areas for future development, with plans to supply components for electric vehicles by the second half of 2025 [1] Group 1: Business Development - The company has established a certain foundation for industry expansion through its subsidiary, Weiyan Zhongjia [1] - Longsheng Technology is developing third-generation dexterous hands and has officially launched the "Lansen" robot [1] Group 2: Product Supply Timeline - The Bosch sub-assembly project is expected to start supplying in the second half of 2025 [1] - The electric motor sub-assembly project with Seres is also anticipated to begin supply in the second half of 2025 [1]

Group 1: Business Segments and Developments - Aerospace precision manufacturing is a key future business area for the company, with a focus on UAV components and missile precision parts [2][3] - The company is developing the third generation of dexterous hands for humanoid robots, targeting multi-sensor integration and control [3] - The company has established a strong market presence in the new energy electric drive core, with significant supply to leading electric vehicle manufacturers [3][4] Group 2: Strategic Partnerships and Projects - The company is collaborating with Bosch on the new energy commercial vehicle drive motor assembly, with supply expected to start in the second half of 2025 [3][4] - The company has successfully broken the foreign monopoly in the heavy-duty truck EGR valve market and is expanding its customer base [7] - The company has entered into contracts for commercial satellite projects with Galaxy Aerospace, with ongoing cooperation with China Aerospace Technology Group [10][11] Group 3: Market Position and Competitiveness - The company holds a leading position in the domestic EGR system market for passenger vehicles, supplying major clients such as BYD, Chery, and Geely [6][7] - The EGR technology is positioned as a key solution for energy conservation and emission reduction in both commercial and passenger vehicles, aligning with national policies [5][6] - The company is optimistic about the market prospects for EGR systems, leveraging over 20 years of industry experience [5][6] Group 4: Financial Outlook and Growth Drivers - The revenue contribution from satellite products is expected to be 10-15% in 2024 [10] - The company anticipates significant growth in the precision components sector driven by new project mass production and an expanding customer base [7][8] - The copper busbar business is projected to double in 2025, supported by various vehicle models [8]

上海市锦天城律师事务所 关于无锡隆盛科技股份有限公司 2024 年年度股东大会的 法律意见书 地址：上海市浦东新区银城中路 501 号上海中心大厦 9/11/12 层 电话：021-20511000 传真：021-20511999 邮编：200120 上海市锦天城律师事务所 法律意见书 上海市锦天城律师事务所 关于无锡隆盛科技股份有限公司 2024 年年度股东大会的 法律意见书 致：无锡隆盛科技股份有限公司 日 9 时 15 分至 15 时期间进行。 本所律师认为，本次股东大会召集人资格合法、有效，本次股东大会召集、 召开程序符合《公司法》《上市公司股东会规则》等法律、法规、规章、规范性 文件以及《公司章程》的有关规定。 《上市公司股东会规则》等法律、法规、规章、规范性文件以及《无锡隆盛科技 股份有限公司章程》（以下简称《公司章程》）的有关规定，出具本法律意见书。 为出具本法律意见书，本所律师对本次股东大会所涉及的相关事项进行了必 要的核查和验证，审查了本所律师认为出具该法律意见书所需审查的相关文件、 资料，并参加了公司本次股东大会现场会议的全过程。 上海市锦天城律师事务所（以下简称"本所"）接受无锡隆盛科技 ...