北京德恒律师事务所 关于成都西菱动力科技股份有限公司 2024 年年度股东大会的 法律意见 北京市西城区金融街 19 号富凯大厦 B 座 12 层 电话:010-52682888 传真:010-52682999 邮编:100033 北京德恒律师事务所 关于成都西菱动力科技股份有限公司 2024年年度股东大会的法律意见 致：成都西菱动力科技股份有限公司 成都西菱动力科技股份有限公司（以下简称"公司"）2024 年年度股东大 会（以下简称"本次会议"）于 2025 年 5 月 16 日（星期五）召开。北京德恒律 师事务所（以下简称"德恒"）受公司委托，指派杨兴辉律师、彭刚律师（以下 简称"德恒律师"）出席了本次会议，并根据《中华人民共和国证券法》（以下 简称"《证券法》"）、《中华人民共和国公司法》（以下简称"《公司法》"）、 中国证券监督管理委员会《上市公司股东会规则》（以下简称"《股东会规则》"）、 《成都西菱动力科技股份有限公司章程》（以下简称"《公司章程》"）的规定， 德恒律师就本次会议的召集、召开程序、现场出席会议人员资格、表决程序等相 关事项进行见证，并发表法律意见。 为出具本法律意见，德恒律师出席了 ...

一、保荐工作概述 | 项目 | 工作内容 | | --- | --- | | 1、公司信息披露审阅情况 | | | （1）是否及时审阅公司信息披露文件 | 是 | | （2）未及时审阅公司信息披露文件的 | 0 次 | | 次数 | | | 2、督导公司建立健全并有效执行规章 | | | 制度的情况 | | | （1）是否督导公司建立健全规章制度 | 是 | | （包括但不限于防止关联方占用公司 | | | 资源的制度、募集资金管理制度、内控 | | | 制度、内部审计制度、关联交易制度） | | | （2）公司是否有效执行相关规章制度 | 是 | | 3、募集资金监督情况 | | | （1）查询公司募集资金专户次数 | 12 次 | | | 年 月 日，发行人披露了 是，2025 1 1 《关于部分募集资金投资项目子项目 | | | 金额调整、新增募投项目暨项目延期 | | （2）公司募集资金项目进展是否与信 | 的公告》，基于业务及战略发展的需 | | | 要，更合理、有效地使用募集资金，提 | | 息披露文件一致 | 升经济效益，发行人对部分募投项目 | | | 子项目投资金额进行了调整，新增部 | | ...

Group 1 - Military stocks experienced a collective adjustment with significant declines in several companies [1] - Companies such as Aileda, Tongyi Aerospace, and Deguang Technology saw drops exceeding 5% [1] - Other affected companies include Tianqin Equipment, Xiling Power, Zhongke Haixun, Guorui Technology, and Guoke Military Industry [1]

成都西菱动力科技股份有限公司（简称"公司"）于2025年3月28日披露了《关于 部分募集资金被冻结的公告》（公告编号：2025-021），公司子公司成都西菱动力部 件有限公司（简称"动力部件"）在交通银行花圃路支行的募集资金专用账户（账号 511511031013002367458）被冻结资金96.80万元。上述冻结资金96.80万元已于近日解 除冻结并恢复正常使用。 成都西菱动力科技股份有限公司 关于部分募集资金解除冻结的公告 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。 证券代码：300733 证券简称：西菱动力 公告编号：2025-048 特此公告！ 成都西菱动力科技股份有限公司董事会 2025 年 5 月 8 日 ...

证券代码：300733 证券简称：西菱动力 公告编号：2025-047 成都西菱动力科技股份有限公司 关于使用暂时闲置募集资金进行现金管理的进展情况公告 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。 成都西菱动力科技股份有限公司（简称"公司"）于2024年12月30日召开第四届 董事会第十八次会议并审议通过了《关于使用部分暂时闲置募集资金进行现金管理的 议案》，使用暂时闲置募集资金人民币4,000万元进行现金管理，适时购买安全性高、 流动性好、风险较低、具有合法经营资格的金融机构销售的保本型理财产品或存款产 品，期限自2025年1月16日起不超过12个月。在上述额度及投资期限内，可循环滚动使 用。授权公司董事长及其委托代理人办理具体事宜。公司监事会、保荐机构已经对公 司现金管理事项发表了明确同意意见。公司子公司成都西菱动力部件有限公司根据上 述决议进行现金管理，具体情况如下： 一、本次进行募集资金现金管理情况 1、交通银行"蕴通财富"定期型结构性存款 二、董事会对投资产品的安全性及满足保本要求的分析与说明 本次现金管理通过募集资金专用账户进行，产品安全性高， ...

Investment Rating - The report maintains a rating of "Accumulate" for the company [4][6]. Core Insights - The turbocharger business has become the core growth driver in the automotive parts sector, with a revenue of 9.86 billion yuan in 2024, representing a year-on-year growth of 25.12% [2]. - The aerospace parts business benefited from the development opportunities of domestic large aircraft, achieving a revenue of 1.26 billion yuan in 2024, a year-on-year increase of 46.14% [3]. - The company is strategically expanding into the robot parts business, positioning it as a key future growth area [3]. Summary by Sections Financial Performance - In 2024, the company achieved an operating income of 1.753 billion yuan, a year-on-year increase of 15.38%, and a net profit attributable to shareholders of 51 million yuan [1]. - For Q1 2025, the operating income was 388 million yuan, with a year-on-year growth of 0.29%, and a net profit of 21 million yuan, up 107.58% [1]. Business Segments - The automotive parts segment generated a total revenue of 1.580 billion yuan in 2024, with a gross margin of 14.22%, an increase of 4.83 percentage points from the previous year [2]. - The aerospace parts segment's revenue growth was driven by increasing demand for domestic civil aviation components, with a notable improvement in customer and product structure [3]. Profit Forecast and Valuation - The forecast for net profit attributable to shareholders is 136 million yuan for 2025, 190 million yuan for 2026, and 262 million yuan for 2027 [4]. - The company is expected to maintain a strong growth trajectory in the coming years, with significant contributions from both the turbocharger and aerospace parts businesses [4].

Investment Rating - The report maintains a "Buy" rating for the company [6] Core Insights - The turbocharger business has become the core growth driver in the automotive parts sector, with a revenue of 9.86 billion yuan in 2024, representing a year-on-year growth of 25.12% [2] - The aerospace parts business benefited from the development opportunities of domestic large aircraft, achieving a revenue of 1.26 billion yuan in 2024, a year-on-year increase of 46.14% [3] - The company is strategically expanding into the robot parts business, positioning it as a key future growth area [3] Summary by Sections Financial Performance - In 2024, the company achieved a total revenue of 1.753 billion yuan, a year-on-year increase of 15.38%, and a net profit attributable to shareholders of 51 million yuan [1] - For Q1 2025, the revenue was 388 million yuan, with a year-on-year growth of 0.29%, and a net profit of 21 million yuan, up 107.58% [1] Business Segments - The automotive parts segment generated 1.580 billion yuan in revenue in 2024, with a gross margin of 14.22%, an increase of 4.83 percentage points from the previous year [2] - The aerospace parts segment's revenue growth is driven by increasing demand for domestic aircraft, particularly the C919 [3] Profit Forecast and Valuation - The forecast for net profit attributable to shareholders is 136 million yuan for 2025, 190 million yuan for 2026, and 262 million yuan for 2027 [4] - The company is expected to maintain a strong growth trajectory in the coming years, with significant contributions from both existing and new business segments [4]

Group 1: Company Overview - The company specializes in the research and manufacturing of automotive turbochargers, engine components, and aerospace military parts [3] - Key products include camshaft assemblies, belt pulley assemblies, connecting rod assemblies, structural parts, sheet metal parts, system components, and shaft components [3] Group 2: Automotive Business Performance - Turbocharger sales from 2022 to 2024 were 321,700 units, 932,900 units, and 1,189,600 units respectively, indicating rapid growth [4] - Engine component revenue is expected to see significant growth in 2025 due to new client product launches and increased capacity utilization [5] - The company is focusing on new product development, including electric air conditioning compressors and brake motors, which will provide new growth opportunities [5] Group 3: Aerospace Business Outlook - The aerospace parts business is expected to grow rapidly in 2025, with an improved customer and product structure [6] - The company plans to expand into drone assembly business, enhancing its aerospace parts segment [6] Group 4: Robotics Business Strategy - The company positions robotics components as a key future business, with full support in funding, R&D, and talent development [7] - Current development includes harmonic reducer products, with plans to explore other robotics components based on market demand [7]

Group 1: Industry Overview - As of April 25, over 180 automotive parts companies in A-shares disclosed their 2024 annual reports, with 60% of companies reporting year-on-year growth in net profit attributable to shareholders, and 13 companies achieving over 100% growth [1] - In 2024, China's automotive production and sales reached 31.28 million and 31.44 million units respectively, marking year-on-year increases of 3.7% and 4.5%, benefiting many automotive parts manufacturers [1] - The automotive parts industry is experiencing both high growth and high pressure, with some companies facing performance declines due to intensified industry competition [2] Group 2: Company Performance - Shuanglin Co., specializing in interior and exterior parts, achieved a revenue of 4.91 billion yuan, a year-on-year increase of 18.64%, and a net profit of 497 million yuan, up 514.49% [1] - Taited Co., a precision bearing manufacturer, reported total revenue of 340 million yuan, a 23.13% increase, and a net profit of 24.95 million yuan, up 216.53% [1] - Xiling Power's automotive parts business saw revenue of 1.75 billion yuan, a 15.38% increase, and a net profit of 50.61 million yuan, turning around from losses [2] - Xinzhi Group reported total revenue of 5.918 billion yuan, a 28.22% increase, but a net profit decline of 91.32% due to competitive pressures [2] - Summer Precision achieved revenue of 666 million yuan, a 26.09% increase, but faced significant margin pressure in its automotive gear segment [3] Group 3: Strategic Shifts - Many automotive parts companies are pivoting towards the humanoid robotics industry as a core strategic direction, leveraging existing technologies and customer relationships to create a "second growth curve" [3][4] - Summer Precision is focusing on the humanoid robotics sector, positioning it as a core growth area, and is accelerating the development of industrial robot gear through IPO funding [3] - Top Group is establishing an electric drive division to capitalize on opportunities in the robotics sector, integrating various resources for rapid development [4] - Companies like Xiling Power and WanTong Intelligent Control are also entering the humanoid robotics field, utilizing their technological advantages in precision processing and sensor technology [5][6] Group 4: R&D and Innovation - Shuanglin Co. has made significant advancements in precision transmission technology, establishing a trial production line for planetary roller screw products, which are critical for humanoid robots [5] - Xinzhi Group's subsidiary is focusing on core components for humanoid robots, having initiated collaborations with leading companies in the field [6] - Summer Precision is increasing investments in precision small gears and reducers to support the rapid development of humanoid robots [6]

证券代码：300733 证券简称：西菱动力 公告编号：2025-046 成都西菱动力科技股份有限公司 关于使用暂时闲置募集资金进行现金管理到期收回的公告 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。 成都西菱动力科技股份有限公司（简称"公司"）于2024年12月30日召开第四届 董事会第十八次会议并审议通过了《关于使用部分暂时闲置募集资金进行现金管理的 议案》，使用暂时闲置募集资金人民币4,000万元进行现金管理，适时购买安全性高、 流动性好、风险较低、具有合法经营资格的金融机构销售的保本型理财产品或存款产 品，期限自2025年1月16日起不超过12个月。在上述额度及投资期限内，可循环滚动使 用。授权公司董事长及其委托代理人办理具体事宜。公司监事会、保荐机构已经对公 司现金管理事项发表了明确同意意见。具体内容详见公司在《上海证券报》《证券日 报》及巨潮资讯网（www.cninfo.com.cn）披露的《关于公司及全资子公司使用部分闲 置募集资金暂时补充流动资金及进行现金管理的公告》（公告编号：2024-089）。公 司子公司根据上述决议进行现金管理，现有部分 ...