Group 1: Investment Project Overview - The project "Intelligent Connected New Energy Vehicle All-Season Ice and Snow Testing Base" aims to enhance extreme environment testing capabilities and create new business growth points, with a total investment of CNY 1.039 billion and a construction period of approximately 3 years [2][3] - The testing base will feature various functional areas, including chassis calibration, three-electric system calibration, and flying car testing, enabling year-round testing to address the challenges posed by extreme ice and snow conditions [2] Group 2: Market Demand and Competitive Landscape - The project addresses the automotive industry's transition to electrification and intelligence, which presents new challenges for testing in cold environments, highlighting a clear and urgent market demand [3] - The main competitors in the winter vehicle testing sector are located in Northeast China, particularly in Inner Mongolia and Heilongjiang, with notable centers including Honghe Valley Automotive Testing Center and Bosch (Hulunbuir) Automotive Testing Technology Center [5] Group 3: Financial Performance and Projections - The Extreme Testing Center reported a net profit of over CNY 15 million from January to April 2025, compared to over CNY 7 million for the entire year of 2024, indicating a significant potential for profit growth [4] - The second phase of the Yangtze River Delta (Yancheng) Intelligent Connected Vehicle Testing Center is currently profitable and is expected to see increased capacity utilization as industry demand grows and relevant standards are established [6][7]

Market Overview - The automotive service sector experienced a decline of 0.31% on November 6, with Xiamen Xinda leading the drop [1] - The Shanghai Composite Index closed at 4007.76, up 0.97%, while the Shenzhen Component Index closed at 13452.42, up 1.73% [1] Stock Performance - Xiamen Xinda (000701) closed at 6.20, down 3.43% with a trading volume of 449,100 shares and a transaction value of 280 million [1] - Other notable declines included Beiba Media (600386) down 1.19%, and Dezhong Automobile (920030) down 1.07% [1] - Conversely, Guoji Automobile (600335) saw a slight increase of 0.31% [1] Capital Flow - The automotive service sector saw a net outflow of 33.96 million from institutional investors and 30.07 million from speculative funds, while retail investors contributed a net inflow of 64.02 million [3] - Xiamen Xinda experienced the largest net outflow among individual stocks, totaling 37.62 million [3] - Retail investors showed significant interest in Xiamen Xinda, with a net inflow of 60.31 million despite the overall decline [3]

Core Viewpoint - The company, Zhongqi Co., announced on November 4 that as of October 31, 2025, the number of shareholders will be 35,190 [2] Summary by Categories - **Company Information** - Zhongqi Co. has confirmed that it will have 35,190 shareholders by October 31, 2025 [2]

证券代码：301215 证券简称：中汽股份 公告编号：2025-074 中汽研汽车试验场股份有限公司 2025 年第四次临时股东会决议公告 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。 特别提示 2、本次股东会不涉及变更以往股东会已通过的决议。 3、本公告中占有表决权股份总数的百分比例均保留 4 位小数，若其各分项 数值之和与合计数值存在尾差，均为四舍五入原因造成。 一、会议召开和出席情况 （一）会议召开情况 1、召开时间： （1）现场会议时间：2025 年 11 月 3 日（星期一）15:00 （2）网络投票时间：2025 年 11 月 3 日（星期一） 其中，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 11 月 3 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时间为 2025 年 11 月 3 日（星期一）上午 9:15 至下午 15:00 期间的任意时间。 2、召开地点：江苏省盐城市大丰区大丰港经济区中汽研汽车试验场股份有 限公司（以下简称"公司 ...

深圳市福田区中心四路 1-1 号 嘉里建设广场第三座第 2803-04 室 邮编：518048 电话：(86-755) 2939-5288 传真：(86-755) 2939-5289 北京市君合（深圳）律师事务所 关于中汽研汽车试验场股份有限公司 2025 年第四次临时股东会的法律意见书 致：中汽研汽车试验场股份有限公司 北京市君合（深圳）律师事务所（以下简称"本所"）受中汽研汽车试验场 股份有限公司（以下简称"贵公司"）的委托，根据《中华人民共和国公司法》（以 下简称"《公司法》"）、《上市公司股东会规则》（以下简称"《股东会规则》"） 等法律、法规、规章及《中汽研汽车试验场股份有限公司章程》（以下简称"《公 司章程》"）的有关规定，就贵公司 2025 年第四次临时股东会（以下简称"本次 股东会"）有关事宜出具本法律意见书。 本法律意见书仅供见证本次股东会相关事项合法性之目的而使用，未经本所 书面同意，任何人不得将其用作其他任何目的。 本法律意见书仅就本次股东会的召集和召开程序、出席本次股东会人员的资 格、召集人资格、会议表决程序是否符合中国有关法律、法规及《公司章程》的 规定以及表决结果是否合法有效发表意 ...

Market Overview - The automotive service sector increased by 1.02% on November 3, with Altec leading the gains [1] - The Shanghai Composite Index closed at 3976.52, up 0.55%, while the Shenzhen Component Index closed at 13404.06, up 0.19% [1] Stock Performance - Altec (300825) closed at 11.72, with a rise of 2.45% and a trading volume of 227,000 shares, amounting to a transaction value of 266 million yuan [1] - Other notable performers included: - Sunbo Holdings (600653) at 2.10, up 2.44% [1] - Beiba Media (600386) at 4.95, up 2.06% [1] - China Automotive Research (601965) at 17.44, down 0.40% [2] Capital Flow Analysis - The automotive service sector experienced a net outflow of 8.8372 million yuan from institutional investors and 6.992 million yuan from speculative funds, while retail investors saw a net inflow of 15.826 million yuan [2] - Altec had a net inflow of 7.6732 million yuan from institutional investors, but a net outflow of 9.5789 million yuan from retail investors [3] - China Automotive Research faced a significant net outflow of 4.0169 million yuan from institutional investors, while retail investors contributed a net inflow of 5.3581 million yuan [3]

Core Viewpoint - The company reported strong financial performance in Q3 2025, with a revenue increase of 20.91% year-on-year and a net profit growth of 31.26% year-on-year, indicating a positive trend in its operations [1] Financial Performance - For the first three quarters of 2025, the company achieved a revenue of 435 million yuan, reflecting a year-on-year growth of 20.91% [1] - The net profit for the same period reached 160 million yuan, marking a year-on-year increase of 31.26% [1] Acquisition and Expansion - The company announced the acquisition of 100% equity in the Extreme Testing Center from the China Automotive Research Center for 111 million yuan, which has been completed and is now a wholly-owned subsidiary [1] - The company plans to raise up to 1.039 billion yuan through convertible bonds to fund the construction of an all-season ice and snow testing base for intelligent connected new energy vehicles in Hulunbuir, Inner Mongolia [1] Industry Context - The automotive industry is undergoing a transformation from "mechanization" to "electrification + intelligence," with performance validation in cold and snowy environments becoming crucial for product safety and reliability [2] - There is a growing focus on testing standards and methods for new energy vehicles in extreme environments, highlighting the need for improved testing technology and standard systems [2] - The Extreme Testing Center, leveraging national platforms, aims to enhance the vehicle evaluation system for cold environments, which is essential for the development of new energy vehicles [2]

Core Insights - The automotive service sector experienced a decline of 0.63% on October 30, with Altec leading the drop [1] - The Shanghai Composite Index closed at 3986.9, down 0.73%, while the Shenzhen Component Index closed at 13532.13, down 1.16% [1] Automotive Service Sector Performance - Notable stock performances included: - Zhongqi Co., Ltd. (301215) closed at 6.69, up 2.45% with a trading volume of 366,600 shares and a turnover of 244 million yuan - Guoji Automobile (600335) closed at 6.16, up 1.32% with a trading volume of 282,800 shares and a turnover of 175 million yuan - Altec (300825) closed at 11.04, down 4.08% with a trading volume of 148,500 shares and a turnover of 167 million yuan [1][2] Capital Flow Analysis - The automotive service sector saw a net outflow of 86.0016 million yuan from institutional investors, while retail investors contributed a net inflow of 113 million yuan [2] - Individual stock capital flows indicated: - Zhongqi Co., Ltd. had a net inflow of 23.6957 million yuan from institutional investors, while retail investors contributed 0.9225 million yuan - Altec experienced a significant net outflow of 39.6543 million yuan from institutional investors, with a retail net inflow of 18.7056 million yuan [3]

Core Viewpoint - 中汽股份 reported steady growth in revenue and profit for the first three quarters of the year, driven by business expansion and increased market share in the new energy vehicle sector [1][3]. Financial Performance - The company's revenue for the first three quarters reached 435 million yuan, a year-on-year increase of 20.91%, while net profit attributable to shareholders was 160 million yuan, up 31.26% [1]. - In Q3 alone, revenue was 150 million yuan, a slight increase of 0.34%, and net profit was approximately 63.14 million yuan, reflecting a significant growth of 59.16% [1]. - The net cash flow from operating activities for the first three quarters was 162 million yuan, showing a substantial increase of 73.60% year-on-year [3]. Business Expansion - 中汽股份 completed the acquisition of the呼伦贝尔检验中心, enhancing its testing capabilities in extreme environments and expanding its national testing network [4][5]. - The company plans to issue convertible bonds of up to 1.039 billion yuan to fund the construction of an all-season ice and snow testing base for intelligent connected new energy vehicles [2][6]. - The new testing base aims to address performance issues of new energy vehicles in low-temperature conditions, particularly focusing on battery endurance and intelligent system stability [6][7]. Strategic Initiatives - The acquisition of the呼伦贝尔检验中心 is expected to strengthen the company's position in high-value testing services for new energy vehicles, particularly in winter calibration and intelligent driving validation [4][5]. - The company is positioning itself to provide standardized testing conditions, which will accelerate the adaptation and development of the northern market for intelligent electric vehicles [7].

Core Insights - The company reported a total revenue of 435 million yuan for Q3 2025, marking an increase of 75.14 million yuan compared to the same period last year, achieving a 20.91% year-on-year growth [1] - The net profit attributable to shareholders reached 160 million yuan, ranking third among disclosed peers, with an increase of 38.09 million yuan, reflecting a year-on-year growth of 31.26% [1] - The net cash inflow from operating activities was 162 million yuan, ranking fourth among disclosed peers, with an increase of 68.88 million yuan, achieving a 73.60% year-on-year growth [1] Financial Performance - The latest debt-to-asset ratio stands at 17.50%, ranking first among disclosed peers [3] - The latest gross profit margin is 60.61%, also ranking first among disclosed peers [3] - The latest return on equity (ROE) is 5.48%, ranking second among disclosed peers, with an increase of 1.57 percentage points compared to the same period last year [3] - The diluted earnings per share are 0.12 yuan, ranking third among disclosed peers, with an increase of 0.03 yuan, reflecting a year-on-year growth of 33.33% [3] - The total asset turnover ratio is 0.12 times, an increase of 0.04 times compared to the same period last year, representing a year-on-year growth of 52.56% [3] - The inventory turnover ratio is 151.93 times, ranking first among disclosed peers, with an increase of 81.22 times, achieving a year-on-year growth of 114.86% [3] Shareholder Structure - The number of shareholders is 38,000, with the top ten shareholders holding a total of 1.005 billion shares, accounting for 75.94% of the total share capital [3] - The largest shareholder is China Automotive Technology & Research Center Co., Ltd., holding 41.9% of shares [3] - The second-largest shareholder is Jiangsu Yueda Group Co., Ltd., holding 28.8% of shares [3]