Investment Rating - The automotive sector is rated as "Outperform" with expectations of beating the market in the next six months [45]. Core Insights - The automotive sector saw a 2.4% increase from May 12 to May 16, outperforming the CSI 300 index by 1.29 percentage points [10]. - The passenger vehicle segment rose by 4.43%, while commercial vehicles declined by 1.7% [10]. - Retail sales of passenger vehicles increased by 12% year-on-year in the first two weeks of May, with a month-on-month increase of 34% [6]. - The overall PE-TTM for the automotive industry is 26.74, up 0.64 from the previous week [11]. Summary by Sections Market Performance - The automotive sector's performance from May 12 to May 16 showed a 2.4% increase, with the passenger vehicle segment leading at 4.43% [10]. - The commercial vehicle segment decreased by 1.7%, while the truck and bus segments also saw declines [10]. Valuation Levels - As of May 16, the PE-TTM for the automotive industry is 26.74, with passenger vehicles at 27.75, commercial vehicles at 33.99, and parts at 24.85 [11][35]. - The passenger vehicle segment increased by 1.17, while commercial vehicles decreased by 0.63 [11]. Sales and Production Data - In the first eleven days of May, retail sales of passenger vehicles reached 574,000 units, a 12% increase year-on-year [6]. - Cumulative retail sales for the year reached 7.446 million units, up 8% [6]. Strategic Collaborations - Huawei and UBTECH signed a comprehensive cooperation agreement focusing on embodied intelligence and humanoid robotics [3]. - The collaboration aims to enhance product technology development and application scenarios [3]. Material Prices - As of May 16, the aluminum index is at 20,107.5, copper at 77,596.36, and rebar at 3,083.42, with respective weekly changes of 3.03%, 0.93%, and 1.98% [24][35].

江苏骏成电子科技股份有限公司 2024 年年度股东大会决议公告 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：301106 证券简称：骏成科技 公告编号：2025-018 特别提示： 1、本次股东大会未出现否决议案的情形。 2、本次股东大会不涉及变更以往股东大会已通过的决议。 一、会议召开和出席情况 （一）会议召开情况 1、会议召开时间： 现场会议时间：2025 年 5 月 12 日（星期一）下午 15:00。 网络投票时间：2025 年 5 月 12 日 通过深圳证券交易所交易系统进行网络投票的具体时间为 2025 年 5 月 12 日（星期一）上午 9:15-9:25，9:30-11:30，下午 13:00-15:00；通过深圳证券交易 所互联网投票系统投票的具体时间为 2025 年 5 月 12 日（星期一）上午 9:15 至 下午 15:00 期间的任意时间。 2、会议召开地点：句容市华阳北路 41 号公司会议室。 3、会议召开方式：现场表决和网络表决相结合的方式。 6、召开情况合法、合规、合章程性说明：本次会议的召集、召开与表决程 序符合 ...

Jin Mao Law Firm 金 茂 律 師 事 務 所 40th Floor Bund Center, 222 East Yan An Road, Shanghai 200002, P.R.China 中国上海市延安东路 222 号外滩中心 40 楼 200002 Tel/电话:(8621) 6249 6040 Fax/传真:(8621) 6248 2266 Website/网址: www.jinmao.com.cn 上海市金茂律师事务所 关于江苏骏成电子科技股份有限公司 2024年年度股东大会之法律意见书 致：江苏骏成电子科技股份有限公司 江苏骏成电子科技股份有限公司（以下简称"公司"）2024 年年度股东大会（以 下简称"本次股东大会"）于 2025 年 5 月 12 日下午在句容市华阳北路 41 号公司会 议室召开。上海市金茂律师事务所（以下简称"本所"）经公司聘请并接受公司委托， 委派茅丽婧律师、赵可沁律师（以下简称"本所律师"）出席本次股东大会，并根据 《中华人民共和国公司法》（以下简称"《公司法》"）、《中华人民共和国证券法》 （以下简称"《证券法》"）、《上市公司股东会规则》（以下简称"《 ...

证券代码：301106 证券简称：骏成科技 公告编号：2025-017 江苏骏成电子科技股份有限公司 关于收购江苏新通达电子科技股份有限公司 40%股份的公告 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。 一、交易概述 江苏骏成电子科技股份有限公司（以下简称"公司"）于 2025 年 4 月 24 日 召开第四届董事会第五次会议、第四届监事会第五次会议，审议通过了《关于收 购江苏新通达电子科技股份有限公司 40%股份的议案》，同意公司收购徐琐璋、 姚伟芳、徐艺萌、丹阳精易至诚科技合伙企业（有限合伙）（以下简称"精易至 诚"）所持有的江苏新通达电子科技股份有限公司（以下简称"新通达"）40%的 股份。截至 2024 年 12 月 31 日，新通达全部权益评估值为 27,700 万元，经交易 各方协商，公司以自筹资金 9,405 万元收购徐琐璋、姚伟芳、徐艺萌、精易至诚 所持有的新通达 40%的股份，其中，公司收购徐琐璋所持新通达 6.88%股份、收 购姚伟芳所持新通达 10%股份、收购徐艺萌所持新通达 20.44%股份、收购精易 至诚所持新通达 2.68%股份 ...

证券代码：301106 证券简称：骏成科技 公告编号：2025-015 江苏骏成电子科技股份有限公司 董事会 2025年4月25日 江苏骏成电子科技股份有限公司（以下简称"公司"）于 2025 年 4 月 24 日 召开第四届董事会第五次会议、第四届监事会第五次会议，审议通过了公司《2025 年第一季度报告》。 为使投资者全面了解公司 2025 年第一季度的财务状况及具体经营情况，公 司于 2025 年 4 月 25 日在中国证监会指定的创业板信息披露网站巨潮资讯网 （www.cninfo.com.cn）上披露《2025 年第一季度报告》，敬请广大投资者注意查 阅。 特此公告。 江苏骏成电子科技股份有限公司 2025 年第一季度报告披露提示性公告 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、误导性陈述或重大遗漏。 ...

证券代码：301106 证券简称：骏成科技 公告编号：2025-014 二、监事会会议审议情况 经与会监事认真审议，通过如下议案： （一）审议通过《2025 年第一季度报告》； 经审议，监事会认为：公司《2025 年第一季度报告》全文真实、准确、完整 地反映了公司 2025 年第一季度的经营管理情况，不存在虚假记载、误导性陈述 或者重大遗漏。 具体内容详见公司同日披露于巨潮资讯网（www.cninfo.com.cn）的《2025 年 第一季度报告》。 江苏骏成电子科技股份有限公司 第四届监事会第五次会议决议公告 本公司及监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。 一、监事会会议召开情况 江苏骏成电子科技股份有限公司（以下简称"公司"）第四届监事会第五次 会议于 2025 年 4 月 24 日以现场方式召开。会议通知已于本次监事会召开 3 日 前发出。本次会议由监事会主席张成军召集并主持，会议应到监事 3 人，实到监 事 3 人。会议的召集和召开符合《中华人民共和国公司法》和《公司章程》的有 关规定。 具体内容详见公司同日披露于巨潮资讯网（www.cninfo.co ...

证券代码：301106 证券简称：骏成科技 公告编号：2025-013 江苏骏成电子科技股份有限公司 第四届董事会第五次会议决议公告 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。 一、董事会会议召开情况 江苏骏成电子科技股份有限公司（以下简称"公司"）第四届董事会第五次 会议于 2025 年 4 月 24 日以现场结合通讯方式召开。会议通知已于本次董事会召 开 3 日前发出。会议应到董事 9 人，实到董事 9 人，本次会议由董事长应发祥先 生主持，公司部分高管及监事列席会议。会议的召集和召开符合《中华人民共和 国公司法》和《公司章程》的有关规定。 二、董事会会议审议情况 经与会董事认真审议，通过如下议案： （二）审议通过《关于收购江苏新通达电子科技股份有限公司 40%股份的 议案》。 为进一步提升公司综合竞争实力，同意公司收购徐琐璋、姚伟芳、徐艺萌、 丹阳精易至诚科技合伙企业（有限合伙）（以下简称"精易至诚"）所持有的江苏 新通达电子科技股份有限公司（以下简称"新通达"）40%的股份。截至 2024 年 12 月 31 日，新通达全部权益评估值为 27,70 ...

骏成科技（301106）公告，2025年第一季度营业收入1.95亿元，同比增长19.66%。净利润2486.52万 元，同比增长15.36%。 ...

Group 1 - The company announced the acquisition of 40% of Jiangsu Xintongda Electronic Technology Co., Ltd. for 94.05 million yuan [1] - The total equity valuation of Xintongda is 277 million yuan as of December 31, 2024 [1] - Following the transaction, the company will hold 40% of Xintongda, while other shareholders will see their stakes reduced or eliminated [1] Group 2 - Xintongda specializes in the research, design, production, and sales of automotive electronics, primarily automotive instruments [1] - The acquisition is expected to enhance the company's overall competitive strength in the industry and aligns with its development strategy [1] - The funding for the acquisition will come from self-raised funds, which will not adversely affect the company's ongoing operations or financial condition [1]

Revenue and Profit - The company's revenue for Q1 2025 was ¥194,686,529.20, representing a 19.66% increase compared to ¥162,695,708.66 in the same period last year[5]. - Net profit attributable to shareholders was ¥24,865,201.58, up 15.36% from ¥21,555,204.47 year-on-year[5]. - Total operating revenue for the current period reached ¥194,686,529.20, an increase of 19.6% compared to ¥162,695,708.66 in the previous period[18]. - Net profit for the current period was ¥24,865,201.58, representing a 15.5% increase from ¥21,555,204.47 in the previous period[19]. - The company reported a comprehensive income total of ¥24,855,642.59, compared to ¥21,555,091.95 in the prior period, indicating a growth of 15.5%[20]. Cash Flow - The net cash flow from operating activities improved significantly to ¥25,023,657.56, a 381.86% increase from a negative cash flow of ¥8,878,005.31 in the previous year[5][10]. - Cash inflow from operating activities totaled ¥200,220,772.05, significantly higher than ¥115,075,759.75 in the previous period, marking a growth of 74%[22]. - Cash outflows from operating activities totaled 175,197,114.49, up from 123,953,765.06, reflecting increased operational expenses[23]. - Cash inflows from financing activities amounted to 9,138,027.17, while cash outflows totaled 2,006,395.55, resulting in a net cash flow of 9,138,027.17[23]. - The total cash and cash equivalents decreased by 77,763,564.59, compared to a decrease of 39,456,666.91 in the previous period[23]. Expenses - The company reported a significant increase in sales expenses, which rose by 83.18% to ¥7,240,573.06 due to enhanced market expansion efforts[9]. - Research and development expenses increased by 32.82% to ¥9,275,066.66 as the company intensified its focus on new product development[9]. - Total operating costs amounted to ¥171,999,318.53, up 25.3% from ¥137,324,549.56 in the prior period, with operating costs specifically rising from ¥121,060,699.56 to ¥151,209,456.60[18]. - The company paid 55,416,211.08 in employee-related cash payments, an increase from 42,573,510.40[23]. - Tax payments increased to 9,598,544.67 from 6,423,209.70, indicating a rise in tax obligations[23]. Assets and Liabilities - Total assets at the end of Q1 2025 were ¥1,492,377,945.32, a decrease of 1.78% from ¥1,519,374,692.33 at the end of the previous year[5]. - The company's total liabilities decreased from ¥292,236,763.65 to ¥237,832,294.45, a reduction of approximately 18.5%[18]. - Current assets total CNY 1.12 billion, down from CNY 1.14 billion at the start of the period, primarily due to a decrease in cash and cash equivalents[16]. - The company's cash and cash equivalents decreased to CNY 539.33 million from CNY 619.59 million, reflecting a decline of approximately 12.9%[15]. - The company reported a decrease in total liabilities, with current liabilities at CNY 211.67 million, down from CNY 257.25 million[16]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 9,163, with no preferred shareholders having restored voting rights[11]. - The top 10 shareholders collectively hold 71.28% of the company's total equity, with Jiangsu Junchen Investment holding 28.16% and the largest individual shareholder, Bo Yujun, holding 22.95%[12]. Investment and Financing - Investment income surged by 1626.48% to ¥1,104,825.54, attributed to increased returns from financial products[9]. - Cash flow from financing activities improved significantly to ¥9,138,027.17, a 555.44% increase from a negative cash flow of ¥2,006,395.55 in the previous year[10]. - The net cash flow from investing activities was -112,000,489.73, worsening from -29,258,479.26, primarily due to higher investment payments of 100,000,000.00[23]. Company Strategy - The company is focusing on expanding its market presence and developing new technologies, although specific figures or timelines were not disclosed in the report[12]. - The company did not undergo an audit for the first quarter report, which may affect stakeholder confidence[25].