● 会议召开时间：2025年11月19日（星期三）下午15:00－16:00 ● 会议召开地点：证券日报网路演平台（http://www.zqrb.cn/huiyi/lyhd/inde x.html） ● 会议召开方式：文字网络互动 ● 投资者可在业绩说明会召开日前（11月12日-11月18日），提前将需要了 解 的 情 况 和 有 关 问 题 通 过 电 子 邮 件 发 送 至 公 司 董 事 会 办 公 室 邮 箱 xsgf@nbxus.com。公司将在本次业绩说明会上对投资者关注的问题进行交流。 | 证券代码：603305 | 证券简称：旭升集团 | 公告编号：2025-082 | | --- | --- | --- | | 债券代码：113685 | 债券简称：升 24 转债 | | 宁波旭升集团股份有限公司 关于召开 2025 年第三季度业绩说明会的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 重要内容提示： 独立董事：彭力明先生 宁波旭升集团股份有限公司（以下简称"公司"）已于2025年10月31日在 ...

| 证券代码：603305 | 证券简称：旭升集团 | | 公告编号：2025-081 | | --- | --- | --- | --- | | 债券代码：113685 | 债券简称：升 24 | 转债 | | 宁波旭升集团股份有限公司 关于实施"升 24 转债"赎回暨摘牌的 第十三次提示性公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 重要内容提示： 自 2025 年 11 月 11 日起，"升 24 转债"停止交易。 最后转股日：2025 年 11 月 13 日 截至 2025 年 11 月 11 日收市后，距离 11 月 13 日（"升 24 转债"最后转股 日）仅剩 2 个交易日，11 月 13 日为"升 24 转债"最后一个转股日。 宁波旭升集团股份有限公司（以下简称"公司"）股票自 2025 年 9 月 16 日 至 2025 年 10 月 15 日，已有十五个交易日的收盘价格不低于"升 24 转债"当期 转股价格 12.51 元/股的 130%（含 16.26 元/股）。根据《宁波旭升集团股份有限 ...

Core Viewpoint - On November 10, Xusheng Group announced that investors holding the "Sheng 24 Convertible Bond" can either continue trading in the secondary market within the specified time or convert at a price of 12.51 CNY per share. If not, they will face mandatory redemption at a price of 100 CNY per bond plus accrued interest of 0.1677 CNY per bond, totaling 100.1677 CNY per bond, which may lead to significant investment losses [1] Group 1 - Xusheng Group issued a notice regarding the options available to investors holding the "Sheng 24 Convertible Bond" [1] - Investors can trade in the secondary market or convert their bonds at a specified price [1] - Mandatory redemption could result in substantial losses for investors if they do not act within the given timeframe [1]

本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 重要内容提示： 自 2025 年 11 月 11 日起，"升 24 转债"停止交易。 关于实施"升 24 转债"赎回暨摘牌的 第十二次提示性公告 | 证券代码：603305 | 证券简称：旭升集团 | | 公告编号：2025-080 | | --- | --- | --- | --- | | 债券代码：113685 | 债券简称：升 24 | 转债 | | 宁波旭升集团股份有限公司 赎回登记日：2025 年 11 月 13 日 赎回价格：100.1677 元/张 赎回款发放日：2025 年 11 月 14 日 最后交易日：2025 年 11 月 10 日 最后转股日：2025 年 11 月 13 日 截至 2025 年 11 月 10 日收市后，距离 11 月 13 日（"升 24 转债"最后转股 日）仅剩 3 个交易日，11 月 13 日为"升 24 转债"最后一个转股日。 宁波旭升集团股份有限公司（以下简称"公司"）股票自 2025 年 9 月 16 日 至 2025 ...

Core Viewpoint - The last trading day for Sheng24 Convertible Bond and Tongcheng Convertible Bond is November 10, with significant potential losses for investors who do not act in time [1][3][4]. Group 1: Important Dates and Actions - Investors are reminded that November 10 is the last trading day for Sheng24 Convertible Bond, and November 13 is the last conversion day [3][4]. - After November 13, unconverted Sheng24 Convertible Bonds will be frozen and cease trading, with a forced redemption price of 100.1677 CNY per bond [3][4]. - For Tongcheng Convertible Bond, the last trading day is also November 10, with a forced redemption price of 101.44 CNY per bond after November 13 [3][4]. Group 2: Financial Implications - As of November 7, the closing prices for Sheng24 and Tongcheng Convertible Bonds were 116.244 CNY and 125.413 CNY respectively, indicating potential losses of over 13% and 19% if investors do not act [4][5]. - There are still 344 million CNY and 113 million CNY of Sheng24 and Tongcheng Convertible Bonds respectively that have not been traded or converted, representing over 12% and 14% of the total [5]. Group 3: Redemption Mechanism - The forced redemption mechanism is triggered when the underlying stock price remains above 130% of the conversion price for at least 15 out of 30 trading days [5]. - Investors can either sell the convertible bonds or convert them into shares to avoid losses, with the conversion price set at 12.51 CNY per share for Sheng24 and 31.11 CNY per share for Tongcheng [3][5]. - New regulations require a "Z" identifier to be added to the security name on the last trading day, alerting investors to act promptly [5].

| 证券代码：603305 | 证券简称：旭升集团 | | 公告编号：2025-079 | | --- | --- | --- | --- | | 债券代码：113685 | 债券简称：升 24 | 转债 | | 宁波旭升集团股份有限公司 关于实施"升 24 转债"赎回暨摘牌的 第十一次提示性公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 重要内容提示： 截至 2025 年 11 月 7 日收市后，距离 11 月 10 日（"升 24 转债"最后交易日） 仅剩 1 个交易日，11 月 10 日为"升 24 转债"最后一个交易日。 最后转股日：2025 年 11 月 13 日 截至 2025 年 11 月 7 日收市后，距离 11 月 13 日（"升 24 转债"最后转股日） 仅剩 4 个交易日，11 月 13 日为"升 24 转债"最后一个转股日。 宁波旭升集团股份有限公司（以下简称"公司"）股票自 2025 年 9 月 16 日 至 2025 年 10 月 15 日，已有十五个交易日的收盘价格不低于"升 24 转 ...

Core Viewpoint - The company reported its Q3 2025 performance, showing stable revenue growth driven by key clients, particularly Tesla, and a decline in profit margins due to new project ramp-up and raw material price fluctuations [1][2]. Financial Performance - Q3 2025 revenue reached 1.13 billion, with year-on-year and quarter-on-quarter growth of 0.41% and 7.64% respectively [1]. - Net profit attributable to shareholders was 99 million, reflecting a year-on-year increase of 70.43% but a quarter-on-quarter decrease of 5.5% [1]. - Non-GAAP net profit was 91 million, with year-on-year growth of 96.36% and a quarter-on-quarter decline of 5.22% [1]. - Gross margin for Q3 2025 was 21.45%, showing a year-on-year increase of 3.23 percentage points but a quarter-on-quarter decrease of 1.30 percentage points [2]. - Net margin stood at 8.78%, with year-on-year growth of 3.61 percentage points but a quarter-on-quarter decline of 1.22 percentage points [2]. Development Trends - Revenue stabilization is attributed to key clients, with Tesla delivering 497,000 vehicles in Q3 2025, a quarter-on-quarter increase of 29.4% [2]. - The energy storage business is expanding, with partnerships established with several global energy storage integrators [2]. - The company anticipates improved performance in Q4 due to the traditional automotive peak season [2]. Cost and Expenses - The company experienced an increase in the expense ratio to 11.8% in Q3 2025, with a year-on-year increase of 1.5% and a quarter-on-quarter increase of 3.3 percentage points [2]. - Financial expenses rose, contributing to a decrease in profitability, with estimated foreign exchange gains dropping by approximately 33 million [2]. Future Outlook - The company expects a reduction in financial expenses following the strong redemption of convertible bonds and anticipates gradual recovery in profitability as new projects complete their ramp-up phase [3]. Global Expansion and New Growth Points - The company is accelerating its global expansion, with a factory in Mexico operational since June 2025 and a new facility in Thailand under construction [4]. - New business developments include investments in magnesium alloy components for robots and vehicles, with successful integration of magnesium alloy projects with several international clients [4]. Profit Forecast and Valuation - Due to increased industry competition and pressure on client sales, the company has revised its profit forecasts for 2025 and 2026 down by 15.9% and 5.9% to 420 million and 600 million respectively [5]. - The current stock price corresponds to a P/E ratio of 36.2x for 2025 and 25.5x for 2026, with a target price of 18.3 yuan, indicating a potential upside of 22.9% [5].

| 证券代码：603305 | 证券简称：旭升集团 | 公告编号：2025-078 | | --- | --- | --- | | 债券代码：113685 | 债券简称：升 转债 24 | | 宁波旭升集团股份有限公司 关于实施"升 24 转债"赎回暨摘牌的 第十次提示性公告 本次提前赎回完成后，"升 24 转债"将自 2025 年 11 月 14 日起在上海 证券交易所摘牌。 投资者所持"升 24 转债"除在规定时限内通过二级市场继续交易或按 照 12.51 元/股的转股价格进行转股外，仅能选择以 100 元/张的票面价格 加当期应计利息 0.1677 元/张（即合计 100.1677 元/张）被强制赎回。若 被强制赎回，可能面临较大投资损失。 公司特提醒"升 24 转债"持有人注意在限期内转股或卖出。 转股价格 12.51 元/股的 130%（含 16.26 元/股）。根据《宁波旭升集团股份有限 公司公开发行可转换公司债券募集说明书》（以下简称"《募集说明书》"）的约定， 已触发"升 24 转债"的有条件赎回条款。公司第四届董事会第十一次会议，审 议通过了《关于提前赎回"升 24 转债"的议案》，公司董事 ...

Core Points - As of November 6, 2025, there are only 2 trading days left until the last trading day for "升24转债" on November 10 [2] - The last conversion date for "升24转债" is November 13, 2025, with 5 trading days remaining [2] - Investors can either continue trading "升24转债" in the secondary market or convert it at a price of 12.51 CNY per share [2] - If investors do not take action, they may face forced redemption at a price of 100 CNY per bond plus accrued interest of 0.1677 CNY per bond, totaling 100.1677 CNY per bond [2] - Forced redemption could lead to significant investment losses for investors [2]

Core Viewpoint - The rapid growth of the new energy vehicle (NEV) market is driving the demand for aluminum alloy components in the automotive industry, leading to significant market expansion in China's aluminum alloy automotive parts sector, projected to reach 697.84 billion yuan in 2024, a year-on-year increase of 22.46% [1][8]. Market Overview - Aluminum alloy automotive parts are defined as components made from aluminum-based alloys, which are processed through various methods to achieve lightweight, high strength, corrosion resistance, and recyclability, contributing to vehicle weight reduction and energy efficiency [2]. - The application of aluminum alloy parts spans the entire vehicle, categorized into powertrain, chassis, body, electronic systems, and decorative components [2]. Market Policies - The Chinese government has implemented various policies to support the development of the automotive parts industry, including initiatives aimed at enhancing manufacturing reliability and promoting high-quality development in the NEV sector [2]. Industry Chain - The aluminum alloy automotive parts industry consists of upstream suppliers of aluminum materials and production equipment, midstream manufacturers of aluminum parts, and downstream automotive manufacturers and aftermarket services [4]. Market Growth - China's automotive market has seen substantial growth, with production and sales reaching 21.05 million and 21.12 million vehicles respectively from January to August 2025, marking a year-on-year increase of 12.7% and 12.6% [6]. Competitive Landscape - The aluminum alloy automotive parts market in China is characterized by a large number of companies, leading to a fragmented market structure. Key players include He Sheng Co., Ltd., Xusheng Group, and Wan Feng Ao Wei, among others [9][10]. - In 2024, Lichung Group led the industry with a revenue of 27.25 billion yuan, followed by Top Group and Minshi Group with revenues of 26.6 billion yuan and 23.15 billion yuan respectively [10]. Company Analysis - Lichung Group specializes in lightweight aluminum alloy products and has a complete industrial chain, with 54.5% of its revenue coming from casting aluminum alloys [11]. - Wan Feng Ao Wei focuses on lightweight metal components, achieving 80.81% of its revenue from automotive lightweight parts, totaling 6.056 billion yuan in the first half of 2025 [11]. Development Trends - The industry is expected to adopt smart factory and digital twin technologies, enhancing production efficiency and quality control. The use of recycled aluminum is anticipated to rise, aligning with sustainability goals and reducing production costs [12].