编号：2025-010 证券代码：603926 证券简称：铁流股份 铁流股份有限公司 投资者关系活动记录表 1 | 公司将目标转向高度同源的人形机器人赛道，积极转型，既 | | --- | | 契合公司的长期发展战略，亦符合全体股东的利益。 | | 提问 3：机器人业务客户拓展情况？ | | 回复：公司深耕车辆传动系统制造以及高精密加工领域，凭 | | 借技术创新能力、高适配度特点，与国内主流整车企业均有合作； | | 同时，近年来公司在新能源车辆高精密零部件领域也取得了突破， | | 与理想汽车、零跑汽车、大众汽车等新能源车企建立了合作。公 | | 司将利用自身在汽车市场积累的客户资源和品牌影响力，积极开 | | 拓机器人零部件市场业务。通过与整车企业的紧密沟通，了解他 | | 们在机器人应用方面的潜在需求，为其提供定制化的解决方案。 | | 同时，积极拥抱新业态，与具身机器人本体企业进行技术对接， | | 配套开发关键零部件。 | | 提问 4：公司 2025 年三季报在建工程同比增长幅度较大的原 | | 因？ | | 回复：主要是因为公司新增了几台旋锻设备，截止三季度末 | | 尚未转为固定资产。该设备 ...

证券代码：603926 证券简称：铁流股份 公告编号：2025-055 铁流股份有限公司 2025年第二次临时股东会决议公告 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： 本次会议是否有否决议案：无 一、 会议召开和出席情况 | 1、出席会议的股东和代理人人数 | 73 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 109,162,933 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股 | | | 份总数的比例（%） | 46.5083 | (四) 表决方式是否符合《公司法》及《公司章程》的规定，会议主持情况等。 本次股东会采取网络投票与现场投票相结合的投票方式，表决方式符合《公 司法》及《公司章程》的规定。会议由董事长国宁先生主持。 1 (一) 股东会召开的时间：2025 年 12 月 26 日 (二) 股东会召开的地点：浙江省杭州市临平区临平街道兴国路 398 号二楼会 议室 (三) 出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： ( ...

上海市锦天城律师事务所 关于铁流股份有限公司 2025 年第二次临时股东会的 法律意见书 锦 天 城 律 师事 务 所 ALLBRIGHT LAW OFFICES 地址: 上海市浦东新区银城中路 501 号上海中心大厦 9/11/12 层 电话: 021-20511000 邮编：200120 上海市锦天城律师事务所 法律意见书 上海市锦天城律师事务所（以下简称"本所"）接受铁流股份有限公司（以 下简称"公司"）委托，就公司召开 2025 年第二次临时股东会（以下简称"本 次股东会"）的有关事宜，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》等法律、法规、规章和其他规范性文件以及《铁流股份 有限公司章程》（以下简称《公司章程》）的有关规定，出具本法律意见书。 上海市锦天城律师事务所 关于铁流股份有限公司 2025 年第二次临时股东会的 法律意见书 致：铁流股份有限公司 为出具本法律意见书，本所及本所律师依据《律师事务所从事证券法律业务 管理办法》和《律师事务所证券法律业务执业规则（试行）》等规定，严格履行 了法定职责，遵循了勤勉尽责和诚实信用原则，对本次股东会所涉及的相关事项 进行了 ...

消息面上，"人形机器人第一股"优必选昨晚发布公告，以"协议转让+要约收购"的组合方式共收购深交 所上市公司锋龙股份93957518股（占锋龙股份公司股份总数43%）。 今日（12月25日）上午，机器人相关题材大幅异动，减速器、人形机器人、汽车配件、宇树机器人等概 念板块均涨超1%。个股方面，昊志机电（300503）、强瑞技术（301128）、拓斯达（300607）等上午 收盘均涨超10%，龙溪股份（600592）、大业股份（603278）、天奇股份（002009）等个股涨停。新晋 机器人题材的锋龙股份（002931）一字涨停，集合竞价后封单一度接近460万手，该公司流通股仅两亿 股出头，意味着其流通盘远远不够卖。截至上午收盘，该股仍有超两百万手封单。 业内人士指出，此次优必选入主A股，令人想起了今年两只十倍大牛股，上纬新材和天普股份 （605255），前者是智元机器人入主，后者是中昊芯英要约收购。 底部特征显现 具身智能市场空间广阔。从政策面来看，多地"十五五"规划将具身智能/人形机器人明确列为未来产业 与新经济增长点；北京发布行动计划并落地全国首个全自主无人化人形机器人导览方案，地方政策从顶 层规划向应用示 ...

Group 1 - The core point of the article highlights the dividend distribution plans of four A-share companies, with Bolong Technology, Aohai Technology, and Bank of Communications offering the highest dividends [1] - Bolong Technology and Aohai Technology plan to distribute 6.00 yuan per 10 shares, while Bank of Communications will distribute 1.56 yuan per 10 shares [1] - Additionally, Chongqing Rural Commercial Bank has proposed a dividend distribution plan of 2.03 yuan per 10 shares [1]

Group 1: Investment Opportunities in Rocket Core Components - The manufacturing cost of rockets is concentrated in engines, storage tanks, and fairings, with liquid engines accounting for approximately 50% of the total cost[3] - The storage tanks, which hold liquid hydrogen and liquid oxygen, represent about 15-25% of the rocket's cost and make up 60% of the rocket's mass[3][26] - Fairings, located at the top of the rocket, account for about 10% of the total cost and protect payloads during launch[17] Group 2: Cost Breakdown of Falcon 9 Launch - The total manufacturing cost of a Falcon 9 rocket is estimated to be between $50 million and $60 million, with the booster alone costing $30 million to $40 million[50] - The recovery and refurbishment cost of the rocket after launch ranges from $250,000 to $2 million, depending on the extent of repairs needed[50] - The average launch cost, when reusing the Falcon 9, can drop to approximately $2.89 million, significantly reducing the overall expenses[51] Group 3: Market Performance and Trends - This week, the A-share market experienced a general decline, with the Shanghai Composite Index closing at 3,890.45 points, up by only 0.03%[53] - The total trading volume in the A-share market reached 5.74 billion shares, with a total transaction value of 880.24 billion yuan, reflecting a 9.86% decrease in liquidity compared to the previous week[53][54] - The micro-cap stocks outperformed major indices, indicating a shift in market dynamics favoring smaller companies[3]

铁流股份有限公司 2025年第二次临时股东会 会议资料 股票简称：铁流股份 股票代码：603926 铁流股份 2025 年第二次临时股东会会议资料 2025 年 12 月 铁流股份 2025 年第二次临时股东会会议资料 铁流股份 2025 年第二次临时股东会会议议程 主持人：董事长 国宁先生 | 序号 | | 会 | 议 | 内 | 容 | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 1 | 审议各项议案 | | | | | 报告人 | | | （1） | 《关于募投项目结项并将剩余募集资金永久性补充流动资金的议案》 | | | | | 周 | 莺 | | 2 | 股东及其授权代表发言及答疑 | | | | | | | | 3 | 对需审议的提案进行投票表决 | | | | | | | | （1） | 总监票组织监票小组 | | | | | | | | （2） | 股东及股东代表投票 | | | | | | | | （3） | 统计有效表决票 | | | | | | | | 4 | 宣布表决结果 | | | | | | | | 5 | 宣读股 ...

Core Viewpoint - The announcement details the results of share reductions by certain directors and executives of Tieliu Co., Ltd., highlighting the compliance with legal regulations and the successful execution of the planned share reductions [1][6]. Group 1: Shareholding Information - Before the reduction plan, the company's financial director Zhao Huijun held 319,000 shares, accounting for 0.14% of the total share capital, obtained through equity incentives [2]. - Director Cen Weifeng held 430,264 shares, representing 0.18% of the total share capital, sourced from pre-IPO and equity incentives [2]. Group 2: Reduction Plan Implementation - The reduction plan was disclosed on August 28, 2025, with Zhao Huijun planning to reduce up to 79,750 shares (25% of her holdings) and Cen Weifeng planning to reduce up to 107,566 shares (25% of his holdings) through centralized bidding from September 19 to December 18, 2025 [3]. - By the end of the reduction period on December 18, 2025, Zhao Huijun had reduced 72,000 shares, while Cen Weifeng had reduced 104,991 shares [3]. Group 3: Compliance and Results - The actual reductions complied with the previously disclosed plans, with no minimum reduction quantity or percentage set [6]. - The reduction plan was not terminated early, and there were no violations of the reduction plan or other commitments [7].

Core Viewpoint - The announcement from Tieliu Co., Ltd. regarding the share reduction plan by key executives highlights a strategic move in the company's financial management and ownership structure [1] Group 1: Shareholding Details - The company's financial director, Zhao Huijun, held 319,000 shares, representing 0.14% of the total share capital, acquired through equity incentives [1] - Director Cen Weifeng held 430,264 shares, accounting for 0.18% of the total share capital [1] Group 2: Share Reduction Plan - By the end of the reduction period on December 18, 2025, Zhao Huijun reduced her holdings by 72,000 shares through centralized bidding [1] - Cen Weifeng reduced his holdings by 104,991 shares through centralized bidding [1]

Economic News - In November, Shanghai's import and export value reached 387.49 billion yuan, a year-on-year increase of 10.6%, with exports at 186.6 billion yuan, up 18.2%, marking a monthly historical high [1] - The Ministry of Commerce reported that China and Europe are negotiating on electric vehicle issues, with China willing to resolve differences through dialogue [1] - The National Bureau of Statistics released unemployment rates for November, showing a youth unemployment rate of 16.9% for ages 16-24 and 7.2% for ages 25-29 [1] - The National Development and Reform Commission emphasized the need to optimize investment structure and maintain stable growth in traditional sectors while fostering new investment growth [1] - Yantai, Shandong, announced the discovery of Asia's largest underwater gold mine with proven reserves of over 39,000 tons, accounting for 26% of the national total [1] - The China Meteorological Administration aims to establish an advanced earth system forecasting system by 2035 [1] - The Sichuan Provincial Government plans to form a diversified R&D investment pattern by 2027, targeting a R&D investment intensity of 2.5% [1] - The People's Bank of China completed three financial preparations for Hainan Free Trade Port, enhancing cross-border financial risk prevention capabilities [1] - The China Photovoltaic Industry Association reported a total export value of photovoltaic products at $24.42 billion from January to October 2025, a decrease of 13.2% year-on-year, but a significant improvement from the previous year's decline [1] - The Hubei Provincial Government is advancing the asset reform of state-owned water resources [1] Important Company News - China National Airlines' subsidiary Shenzhen Airlines plans to raise 16 billion yuan through equity financing [2] Metal Industry Outlook - The metal industry is experiencing an optimization in supply-demand structure, with a weak supply cycle expected to continue until 2028, while demand is anticipated to rise due to green energy transitions and new productivity developments [5] - The liquidity cycle shift is expected to enhance metal price elasticity, with small metals projected to see significant price and valuation increases due to supply-demand improvements and liquidity premiums [5] - Small metals like rare earths, rubidium, cesium, lithium, antimony, molybdenum, and magnesium are highlighted for their potential in terms of supply-demand dynamics and future trends [5] Rare Earth Industry - The rare earth industry is undergoing a supply-demand optimization, with supply growth slowing and demand increasing due to sectors like electric vehicles and robotics [6] - The introduction of export controls has redefined the value of the rare earth industry, enhancing China's global pricing power [6] - Related companies include China Rare Earth, Northern Rare Earth, and others [7] Rubidium and Cesium Market - The global rubidium and cesium market is entering a rapid expansion phase, with significant supply growth expected from companies like Zhongmin Resources and Jinyin Galaxy [8] - Demand is projected to grow significantly due to upgrades in consumption structures and emerging applications [8] - Related companies include Zhongmin Resources and Jinyin Galaxy [9] Lithium Industry - The lithium supply-demand relationship is expected to improve, with supply growth driven by low-cost production in South America and increasing demand from the electric vehicle sector [10] - Global lithium supply is projected to grow from 1.231 million tons LCE in 2024 to 1.86 million tons LCE by 2027, with a CAGR of 15% [10] - Related companies include Zhongmin Resources, Jinyin Galaxy, Tianqi Lithium, and others [11] Antimony Industry - The antimony industry is entering a strong growth cycle due to supply constraints and increasing demand from the photovoltaic sector [11] - The global antimony supply-demand gap is expected to widen, leading to price increases and enhanced profitability for related companies [11] - Related companies include Huayu Mining, Huaxi Nonferrous, and Hunan Gold [12] Molybdenum Industry - The molybdenum market is expected to maintain a tight balance, with prices projected to rise due to increased demand from high-end steel and aerospace sectors [12] - Global molybdenum supply is expected to grow slowly, with demand projected to increase at a CAGR of 3.8% [12] - Related companies include Luoyang Molybdenum, Jintong Molybdenum, and Western Mining [13] Magnesium Industry - The magnesium industry is entering a state of sustained balance, with significant demand growth expected from sectors like automotive lightweighting and renewable energy [14] - Global magnesium demand is projected to grow from 1.12 million tons in 2024 to 2 million tons by 2027, with a CAGR of 21% [14] - Related companies include Baowu Magnesium, Xingyuan Zhuomai, and Wanfu Aoxian [15]