| 证券代码：603197 | 证券简称：保隆科技 | 公告编号：2025-084 | | --- | --- | --- | | 债券代码：113692 | 债券简称：保隆转债 | | 上海保隆汽车科技股份有限公司 二、2023 年限制性股票与股票期权激励计划股票期权第一个行权期限制行 权期间为 2025 年 8 月 14 日至 2025 年 8 月 28 日，在此期间全部激励对象将限制 行权。 三、公司将按照有关规定及时向中登公司申请办理限制行权相关事宜。 关于限制性股票与股票期权激励计划股票期权 特此公告。 上海保隆汽车科技股份有限公司董事会 2025 年 8 月 7 日 限制行权期间的提示性公告 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法律责任。 根据《上市公司股权激励管理办法》《上海证券交易所上市公司自律监管指 南第八号——股权激励计划股票期权自主行权》《上海保隆汽车科技股份有限公 司 2023 年限制性股票与股票期权激励计划（草案）》及中国证券登记结算有限责 任公司上海分公司（以下简称"中登公司"）关于股票期权自主行权 ...

Investment Rating - The automotive industry is rated as "Outperform the Market" [1][5][4] Core Viewpoints - The industry is entering the mid-year performance period, with a focus on the 2025 World Robot Conference. The July car market is expected to grow primarily due to the "trade-in and scrapping" policies, with an estimated retail market of 1.85 million narrow passenger cars, a year-on-year increase of 7.6% [1][3] - The long-term outlook emphasizes the rise of domestic brands and opportunities in incremental components driven by electric and intelligent trends. In the short term, the strong new product cycle of Huawei and the first year of the Xiaomi automotive industry chain are highlighted [3][12] - The report suggests that under the geopolitical backdrop, the automotive sector as a domestic consumption product is likely to see increased stimulus policies, favoring passenger cars and domestically replaced components [3][12] Monthly Production and Sales Data - In July, the narrow passenger car retail market is projected to be around 1.85 million units, with a year-on-year growth of 7.6% and a month-on-month decline of 11.2%. New energy vehicle retail is expected to be approximately 1.01 million units, with a penetration rate of 54.6% [1][22] - Weekly data indicates that from July 1 to 27, the national passenger car retail reached 1.445 million units, a year-on-year increase of 9% but a month-on-month decline of 19% [1][2] Weekly Market Performance - For the week of July 28 to August 1, the CS automotive index fell by 2.26%, with the CS passenger car index down by 2.73%. The CS electric vehicle sector saw a decline of 5.01% [2][3] - The CS automotive sector outperformed the CSI 300 index by 0.08 percentage points but underperformed the Shanghai Composite Index by 0.88 percentage points, with a year-to-date increase of 10.97% [2][3] Key Company Earnings Forecast and Investment Ratings - Key companies such as Leap Motor, Geely, and JAC are rated as "Outperform the Market" with varying earnings per share (EPS) forecasts for 2025 and 2026 [4][5] - Leap Motor is expected to have an EPS of -0.05 in 2025, while Geely is projected to have an EPS of 1.36 [4][5] Investment Recommendations - The report recommends focusing on the rise of domestic brands and opportunities in incremental components, particularly in electric and intelligent sectors. Specific recommendations include: - Vehicle manufacturers: Leap Motor, JAC, Geely - Intelligent technology: Kobot, Huayang Group, Junsheng Electronics - Robotics: Top Group, Sanhua Intelligent Control, Shuanghuan Transmission - Domestic replacements: Xingyu Co., Fuyao Glass, Jifeng Co., New Spring Co., Horizon Robotics [3][12][24]

Group 1: Report Industry Investment Rating No relevant content provided Group 2: Core Views of the Report - In August, the liability side of pure bonds is likely to stabilize, and the medium - to long - term upward trend of the equity market remains unchanged. The convertible bond market is expected to present a state of "coexistence of opportunities and risks". It is recommended to explore opportunities from three aspects: anti - involution, underlying stock elasticity, and dividend allocation [1][2][12] - In the past week, the equity market adjusted, and convertible bonds adjusted more significantly. The adjustment of the convertible bond market was partly driven by profit - taking of some funds, and the increased volatility of the pure bond market also led to instability in the liability side of convertible bonds [2][7] - In July, absolute - return funds partially took profits, while public funds and other institutions increased their holdings. The inflow of funds supported the valuation expansion of the convertible bond market in July [2][7] - The valuation expansion of convertible bonds in July reflected the inflow of funds and market recognition, and the option value of convertible bonds was re - priced during the continuous breakthrough of the equity market [2][7] - The hot market sentiment can be seen from the performance of new bonds. In July, 9 convertible bonds were listed, the highest number since 2025. The market efficiently digested the large - scale circulation of Guanghe Convertible Bonds, indicating high demand from investors for new bonds [2][7] Group 3: Summary According to the Directory 1. Convertible Bond Weekly Thinking - The equity market adjusted in the past week, with convertible bonds adjusting more. The Shanghai Composite Index dropped from 3600 to around 3550. The Wind Convertible Bond Equal - Weighted Index fell 0.92% last week, and the convertible bond underlying stock equal - weighted index fell 0.51% [2][7] - Absolute - return funds partially took profits in July, while public funds, fund special accounts, and securities asset management significantly increased their holdings of convertible bonds. The proportion of convertible bonds held by public funds, fund special accounts, and securities assets exceeded 40%, supporting the valuation expansion of the convertible bond market in July [2][7] - The valuation expansion of convertible bonds in July reflected the inflow of funds and market recognition, and the option value of convertible bonds was re - priced. The performance of new bonds also showed the hot market sentiment [2][7] - Looking ahead to August, the convertible bond market will face a relatively mild stock - bond market, presenting a state of "coexistence of opportunities and risks". It is recommended to focus on three aspects: anti - involution industries, underlying stocks with high growth volatility and low - premium convertible bonds, and low - volatility bottom - position convertible bonds for dividend asset allocation. The top ten convertible bonds recommended for August are Ran 23 Convertible Bond, Hongcheng Convertible Bond, etc. [2][12] 2. Convertible Bond Market Tracking 2.1 Convertible Bond Market Conditions - The table shows the performance of various convertible bond indexes in different time periods, such as the Wind Convertible Bond Energy Index, Wind Convertible Bond Material Index, etc. For example, the Wind Convertible Bond Energy Index was - 3.11 in the past week, 1.50 in the past two weeks, etc. [15] 2.2 Convertible Bond Individual Bonds No specific content provided other than the chart indication 2.3 Convertible Bond Valuation No specific content provided other than the chart indication 2.4 Convertible Bond Price No specific content provided other than the chart indication

上海保隆汽车科技股份有限公司 登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：603197 证券简称：保隆科技 公告编号：2025-082 债券代码：113692 债券简称：保隆转债 关于公司为控股子公司提供担保的公告 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法律责任。 （二）内部决策程序 公司于2025年4月28日召开的第七届董事会第二十四次会议、第七届监事会第二十三次会议，全票审议 通过了《关于公司2025年度为子公司提供担保总额的议案》，2025年度公司向合并报表范围内下属子公 司提供总额不超过45亿元人民币的担保。具体内容详见公司于2025年4月30日在上海证券交易所网站 （www.sse.com.cn）披露的《上海保隆汽车科技股份有限公司关于公司2025年度为子公司提供担保总额 的公告》。上述议案已经公司2024年年度股东会审议通过。 （三）担保预计基本情况 公司此次为宁国保隆、保隆工贸、保富中国、龙感电子提供的担保包含在公司2025年度为子公司提供担 保总额度内，上述担保事项无须单独召开公司董事会、股东会审 ...

Summary of Key Points Core Viewpoint The announcement details Shanghai Baolong Automotive Technology Co., Ltd.'s provision of guarantees for its subsidiaries, indicating a strategic move to support their financing needs while maintaining control over associated risks. Group 1: Guarantee Details - The company provided a guarantee of 50 million RMB for Baolong (Anhui) Automotive Parts Co., Ltd., with an existing guarantee balance of 348.47 million RMB [1][2] - A guarantee of 250 million RMB was provided for Baolong Industrial Co., Ltd., with an existing balance of 881 million RMB [1][2] - The company also guaranteed 111.2 million RMB for Baolong Hofu (Shanghai) Electronics Co., Ltd., with an existing balance of 578.45 million RMB [1][2] - A guarantee of 20 million RMB was provided for Shanghai Longgan Automotive Electronics Co., Ltd., with an existing balance of 67.5 million RMB [1][2] Group 2: Cumulative Guarantee Situation - The total amount of external guarantees provided by the company and its subsidiaries as of July 31, 2025, is 2.590 billion RMB, which accounts for 81.02% of the company's latest audited net assets [2][21] - There are no overdue guarantees reported, and the company has not provided guarantees for controlling shareholders or related parties [21] Group 3: Internal Decision-Making Process - The board of directors approved the total guarantee amount for subsidiaries not exceeding 4.5 billion RMB for the year 2025 during a meeting held on April 28, 2025 [3][20] - The decision was ratified by the annual shareholders' meeting for 2024 [20] Group 4: Financial Health of Guaranteed Entities - The subsidiaries receiving guarantees have good credit status and do not have significant issues affecting their repayment capabilities, indicating manageable risk for the company [20] - The guarantees are aimed at supporting the subsidiaries' operational needs and long-term development [20]

Group 1 - The company, Baolong Technology, announced on August 1 that it has repurchased a total of 1.7662 million shares, which represents 0.8268% of its total share capital, through the Shanghai Stock Exchange trading system via centralized bidding [2]

Core Viewpoint - The Long Triangle region has introduced the first regional collaborative legislation focused on technological innovation, which will take effect on September 1, 2025, aiming to create a fair and transparent environment for tech innovation activities [3][5]. Group 1: Legislative Developments - The Long Triangle region's legislative bodies have passed the "Decision on Promoting Collaborative Development of Technological Innovation," marking a significant legal framework for tech innovation [3][5]. - This collaborative legislation aims to break down administrative barriers and enhance the innovation ecosystem, facilitating the development of a coordinated innovation mechanism [5][6]. Group 2: Economic Performance - The Long Triangle region has shown steady economic growth, with Shanghai's leading industries experiencing a 9.1% year-on-year increase in manufacturing output, and Jiangsu's high-tech industry accounting for 51.8% of the total industrial output [4]. - The G60 Innovation Corridor has evolved significantly, with a projected collaborative innovation development index reaching 170 by 2024, and R&D expenditure increasing by 82.4% from 2018 levels [9]. Group 3: Future Outlook - Shanghai is positioned to play a pivotal role in leading and radiating technological innovation within the Long Triangle region, leveraging its rich research resources and financial market [10]. - The collaborative legislation outlines 19 principles, including strategic collaboration and shared outcomes, which will guide the future direction of technological innovation in the region [7][8].

| 证券代码：603197 | 证券简称：保隆科技 公告编号：2025-083 | | --- | --- | | 债券代码：113692 | 债券简称：保隆转债 | 上海保隆汽车科技股份有限公司 关于以集中竞价交易方式回购股份的进展公告 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法律责任。 重要内容提示： | 回购方案首次披露日 | 2025/4/30 | | | | | --- | --- | --- | --- | --- | | 回购方案实施期限 | 年 4 月 28 年 4 月 27 | 2025 | 日~2026 | 日 | | 预计回购金额 | 10,000万元~20,000万元 | | | | | 回购用途 | □减少注册资本 √用于员工持股计划或股权激励 □用于转换公司可转债 | | | | | | □为维护公司价值及股东权益 | | | | | 累计已回购股数 | 176.62万股 | | | | | 累计已回购股数占总股本比例 | 0.8268% | | | | | 累计已回购金额 | 6,999.37万元 | ...

| 证券代码：603197 | 证券简称：保隆科技 | 公告编号：2025-082 | | --- | --- | --- | | 债券代码：113692 | 债券简称：保隆转债 | | 上海保隆汽车科技股份有限公司 关于公司为控股子公司提供担保的公告 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法律责任。 重要内容提示： 担保对象及基本情况 | | 被担保人名称 | 保隆（安徽）汽车配件有限公司（以 下简称"宁国保隆"） | | | --- | --- | --- | --- | | | 本次担保金额 | 5,000.00 万元 | | | 担保对象一 | 实际为其提供的担保余额 | 34,847.06 万元(不含本次担保) | | | | 是否在前期预计额度内 | 是 □不适用 | □否 | | | 本次担保是否有反担保 | □是 □不适用 | 否 | | | 被担保人名称 | 上海保隆工贸有限公司（以下简称 "保隆工贸"） | | | | 本次担保金额 | 25,000.00 万元 | | | 担保对象二 | 实际为其提供的 ...

格隆汇8月1日丨保隆科技(603197.SH)公布，截至2025年7月31日，公司通过上海证券交易所交易系统以 集中竞价交易方式累计回购公司股份176.62万股，占公司总股本的比例为0.8268%，回购成交的最高价 为40.86元/股，最低价为38.68元/股，支付的资金总额为人民币6,999.37万元（不含交易佣金等交易费 用）。 ...