Core Insights - The report highlights a sustained high growth in electric vehicle (EV) sales across nine European countries in November 2025, with a total of 281,000 new energy vehicles sold, representing a year-on-year increase of 38.6% and a penetration rate of 34.3%, up by 9.0 percentage points [1][2]. Group 1: Sales Performance - In November 2025, battery electric vehicle (BEV) sales reached 190,000 units, marking a year-on-year increase of 40.5%, while plug-in hybrid electric vehicle (PHEV) sales totaled 91,000 units, up by 35.0% [1][2]. - Germany's BEV sales were 56,000 units, a significant year-on-year increase of 58.5%, and PHEV sales were 32,000 units, up by 57.4% [2][3]. - France's BEV sales reached 34,000 units, reflecting a year-on-year growth of 47.5%, with a penetration rate of 25.8%, an increase of 8.4 percentage points [3]. Group 2: Market Drivers - The implementation of subsidies in France and Italy has led to a rapid increase in BEV sales, with Italy experiencing a remarkable year-on-year growth of 131.4% in BEV sales, totaling 15,000 units [3]. - The UK has restarted EV subsidies and is under pressure from zero-emission vehicle (ZEV) targets, which is expected to sustain growth in EV sales in the coming months [2][3]. - Norway is anticipated to see a surge in electric vehicle purchases as the year-end approaches, driven by consumer demand [1][2]. Group 3: Future Outlook - The European Commission's proposal to adjust the 2035 emission reduction targets is not expected to hinder the long-term trend of electrification in Europe; instead, it may promote sales of small electric vehicles [4]. - New generations of pure electric models are set to be launched by various automakers from late 2025 to the first half of 2026, which is likely to boost the European EV market [4]. Group 4: Investment Recommendations - Investment recommendations include companies involved in lithium batteries, lithium materials, battery structural components, power/electric drive systems, automotive safety components, and charging infrastructure [4]. - Specific companies recommended for investment in lithium batteries include CATL, EVE Energy, and Xinwangda, while lithium material companies include Hunan Youneng and Tianci Materials [4].

| 证券代码：301268 | 证券简称：铭利达 | 公告编号：2025-120 | | --- | --- | --- | | 债券代码：123215 | 债券简称：铭利转债 | | 深圳市铭利达精密技术股份有限公司 关于公司对外担保的进展公告 本公司及董事会全体成员保证公告内容真实、准确和完整，不存在任何虚 假记载、误导性陈述或者重大遗漏。 特别风险提示： 截至本公告披露日，公司及控股子公司对外提供担保总额为43.91亿元，占 公司2024年经审计净资产的比例为230.67%。请广大投资者充分关注担保风险。 一、担保情况介绍 深圳市铭利达精密技术股份有限公司（以下简称"公司""铭利达"）于 2025年4月26日召开第二届董事会第三十六次会议、第二届监事会第二十三次会 议，于2025年5月23日召开2024年年度股东大会，审议通过了《关于公司及子公 司申请综合授信并提供担保的议案》，同意公司及子公司向金融机构及其他非 金融机构申请融资不超过人民币60.00亿元（具体融资类型、金额、期限、利率 等以上述机构最终审批为准），公司及各子公司之间提供担保，担保方式为连 带责任保证担保、抵押担保、质押担保等，担保金额 ...

Group 1 - The A-share market continues to see an upward trend in liquid cooling concept stocks, with notable increases in share prices for several companies [1] - Fangsheng Co., Ltd. experienced a rise of over 12%, while Oulutong and Hongsheng Co., Ltd. saw increases of over 11% and 10% respectively [1] - Other companies such as Minglida, Jingyan Technology, and Yingweike also reported significant gains, with increases ranging from 5% to 9% [1] Group 2 - The table lists various companies along with their stock codes, percentage increases, total market capitalization, and year-to-date performance [2] - Fangsheng Co., Ltd. has a total market value of 29.24 billion and a year-to-date increase of 68.15% [2] - Oulutong has a market capitalization of 27.6 billion and a remarkable year-to-date increase of 137.26% [2] - Hongsheng Co., Ltd. has a market value of 6.167 billion and an impressive year-to-date increase of 256.74% [2] - Other companies listed show varying market capitalizations and year-to-date performance, indicating a strong interest in the liquid cooling sector [2]

Group 1 - The company Minglida (301268.SZ) primarily focuses on hardware manufacturing, providing structural component products to various customers [1] - The company's product offerings do not include software-related applications [1]

Company Overview - Minglida (SZ 301268) announced that as of the date of the announcement, Dali Investment has pledged approximately 55.49 million shares, accounting for 36.29% of its total holdings [1] Revenue Composition - For the year 2024, Minglida's revenue composition is as follows: Automotive accounts for 56.06%, Photovoltaics for 29.22%, Security for 11.53%, Consumer Electronics for 1.78%, and Other Businesses for 0.96% [1] Market Capitalization - As of the report, Minglida's market capitalization stands at 7.2 billion yuan [1] Industry Insights - The new energy heavy truck sector has seen a significant surge, with November sales increasing by 178% year-on-year, indicating a strong demand that has led to supply shortages [1]

深圳市铭利达精密技术股份有限公司 关于公司控股股东部分股份质押的公告 本公司及董事会全体成员保证公告内容真实、准确和完整，不存在任何虚假 记载、误导性陈述或者重大遗漏。 深圳市铭利达精密技术股份有限公司（以下简称"公司"）于2025年12月22 日收到公司控股股东深圳市达磊投资发展有限责任公司（以下简称"达磊投资"） 的通知，获悉达磊投资与渤海国际信托股份有限公司（以下简称"渤海信托"） 就其持有的公司部分股份办理了质押手续，具体事项如下： | 证券代码：301268 | 证券简称：铭利达 | 公告编号：2025-119 | | --- | --- | --- | | 债券代码：123215 | 债券简称：铭利转债 | | 截至公告披露日，控股股东及其一致行动人所持质押股份情况如下： | 股东名称 | 持股数 | 持股比 | 本次质 | 本次质押后 | 占其所 | 占公 | 已质押股份 | 未质押股份 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 量（股） | 例 | 押前质 | 质押股份数 | 持股份 | 司总 | 情况 | 情况 ...

Core Viewpoint - Minglida announced that as of the disclosure date, the total external guarantee amount provided by the company and its subsidiaries is RMB 439.1 million, which accounts for 230.65% of the company's audited net assets for 2024 [2] Summary by Category External Guarantees - The total external guarantee amount, including the current guarantee, is RMB 439,100,000 [2] - The actual external guarantees provided by the company and its wholly-owned subsidiaries amount to RMB 207,975,950, which is 109.24% of the company's audited net assets for 2024 [2] - All guarantees are mutual guarantees among companies and subsidiaries within the consolidated financial statements, with no guarantees provided to entities outside the consolidated scope [2] Legal and Financial Status - Currently, there are no overdue guarantees or guarantees involved in litigation, nor any losses incurred due to judgments against the guarantees [2]

| 证券代码：301268 | 证券简称：铭利达 | 公告编号：2025-118 | | --- | --- | --- | | 债券代码：123215 | 债券简称：铭利转债 | | 深圳市铭利达精密技术股份有限公司 一、担保情况介绍 深圳市铭利达精密技术股份有限公司（以下简称"公司""铭利达"）于2025 年4月26日召开第二届董事会第三十六次会议、第二届监事会第二十三次会议， 于2025年5月23日召开2024年年度股东大会，审议通过了《关于公司及子公司申 请综合授信并提供担保的议案》，同意公司及子公司向金融机构及其他非金融机 构申请融资不超过人民币60.00亿元（具体融资类型、金额、期限、利率等以上 述机构最终审批为准），公司及各子公司之间提供担保，担保方式为连带责任保 证担保、抵押担保、质押担保等，担保金额不超过60.00亿元。上述授信事项自 2024年年度股东大会审议通过之日起至2025年年度股东会召开之日前有效，授信 额度及担保额度在有效期内可循环使用，公司董事会提请股东大会授权董事会， 并由董事会转授权经营管理层行使授信管理决策权并签署相关协议文件，由公司 财务中心实施具体办理相关事宜。具体内 ...

证券日报网讯12月18日，铭利达（301268）在互动平台回答投资者提问时表示，公司的产品理论上可以 应用于商业航天领域，但截至目前，公司和相关领域的企业尚未建立实质性的合作。 ...

Group 1 - The core point of the article is that Minglida (301268) confirmed its integrated die-casting products are used in the BAIC Jihe electric vehicle models [1] Group 2 - The company engages with investors through an interactive platform, indicating a commitment to transparency and communication [1]