Group 1 - The company received a project confirmation letter for a new electric air conditioning compressor from a leading global automotive thermal management system client, with expected sales of approximately $29.86 million over the product lifecycle [1] - The project is set to begin mass production in early 2026 at the company's assembly plant in North America, enhancing its international market competitiveness and profitability [1] - The company has established a strong R&D advantage and lean manufacturing capability in the automotive thermal management sector, which has been recognized by the international client [1] Group 2 - The company specializes in the R&D, production, and sales of precision components for automotive thermal management systems, including air conditioning heat exchangers, oil coolers, heat pump systems, and battery coolers, primarily using aluminum alloy products [2] - The company has accumulated extensive experience in the production of thermal management system components and possesses strong capabilities in precision component design, collaborative development, and production [2] - The company is closely following the trends of electrification and intelligence in the automotive industry, with advanced core technologies in smart manufacturing, flexible production, precision processing, and digital management [2] Group 3 - The company has successfully expanded its collaboration with Boyd Corporation, a leader in thermal management solutions, supplying precision components for data center liquid cooling in North America and Europe [3] - Future growth is expected to depend on the release of new energy vehicles and emerging business opportunities, along with effective cost control measures [3] - The company aims to solidify its competitiveness through technological upgrades, cost reduction, and the expansion of emerging businesses [3]

证券代码：301186 证券简称：超达装备 债券代码：123187 债券简称：超达转债 南通超达装备股份有限公司 投资者关系活动记录表 编号：2025-008 | 答：尊敬的投资者，您好。公司向不特定对象发行可转换公司 | | --- | | 债券募集资金计划用于"新能源电池结构件智能化生产项目"。 | | 截至2025年6月30日，公司向不特定对象发行可转换公司债券募 | | 集资金投资项目已累计投入8,870.19万元，募集资金余额为 | | 38,938.49万元，其中，募集资金专户余额为8,938.49万元，购买 | | 的尚未赎回理财及存款类产品余额为30,000.00万元，公司尚未 | | 使用的向不特定对象发行可转换公司债券募集资金将继续用于 | | 承诺投资的募集资金项目。具体内容详见公司于2025年8月29 | | 日在巨潮资讯网(http://www.cninfo.com.cn)披露的《2025年半年 | | 度募集资金存放与使用情况的专项报告》(公告编号：2025-071)。 | | 有关公司的经营情况和业务分析，请您届时查阅公司在巨潮资 | | 讯网(http://www.cninfo ...

证券研究报告：汽车 | 公司深度报告 发布时间：2025-12-22 股票投资评级 增持 |首次覆盖 个股表现 2024-12 2025-03 2025-05 2025-07 2025-10 2025-12 -18% -11% -4% 3% 10% 17% 24% 31% 38% 45% 52% 星源卓镁 汽车 资料来源：聚源，中邮证券研究所 公司基本情况 | 最新收盘价（元） | 47.22 | | --- | --- | | 总股本/流通股本（亿股）1.12 | / 0.37 | | 总市值/流通市值（亿元）53 | / 18 | | 周内最高/最低价 52 | 64.31 / 32.57 | | 资产负债率(%) | 11.6% | | 市盈率 | 47.22 | | 第一大股东 | 宁波源星雄控股有限公 | | 司 | | 研究所 分析师:苏千叶 SAC 登记编号:S1340525110004 Email:suqianye@cnpsec.com 分析师:杨帅波 SAC 登记编号:S1340524070002 Email:yangshuaibo@cnpsec.com 星源卓镁(301398) 星源卓镁： ...

本报记者曹琦 12月22日，*ST海源（002529）股票早上开盘后立即涨停，报7.06元/股。 消息面上，12月19日晚间，*ST海源披露定增预案，公司拟向特定对象滁州市紫锳能源科技有限公司(以 下简称"滁州紫锳")发行股票募集资金不超过2.2亿元，发行价格为5.61元/股，预计发行数量不超过 3921.57万股，募集资金将全部用于补充流动资金。本次发行构成关联交易，滁州紫锳认购的股份自发 行结束之日起18个月内不得转让。 *ST海源主要从事研究开发、生产、销售复合材料轻量化制品和光伏组件。受益于新能源电池、光伏等 行业需求爆发，公司复合材料及光伏业务客户订单增长，导致公司对营运资金需求增加。 公告显示，公司拟将本次向特定对象发行募集资金扣除发行费用后全部用于补充流动资金，缓解公司营 运资金压力，降低资产负债率，从而提升公司的核心竞争力和抗风险能力。 同时，将提高公司实际控制人持有公司表决权比例，其对上市公司的控制权将进一步增强，从而保障公 司股权结构的长期稳定、促进公司战略规划的有效落实，为公司持续稳定发展打下坚实的基础。 "伴随着国内碳达峰碳中和稳步推进，叠加新能源汽车渗透率飙升，我国汽车轻量化已从'可 ...

Investment Rating - The report initiates coverage with a "Buy" rating for the company [7] Core Views - The company is expected to benefit from the increasing demand for photovoltaic frames and lightweight automotive products, driven by the growth in global photovoltaic installations and the high growth rate of new energy vehicle production [7] - The company is actively expanding its overseas production capacity and entering new markets such as robotics, which are anticipated to contribute to future revenue growth [7] - The report highlights that the company’s earnings are expected to improve significantly by 2027, with a projected PE ratio lower than the average of comparable companies [7] Financial Data and Profit Forecast - Total revenue projections for the company are as follows: - 2023: 6,821 million - 2024: 8,572 million - 2025: 8,532 million - 2026: 10,654 million - 2027: 13,196 million - The expected growth rates for total revenue are 61.6% for 2023, 25.7% for 2024, -0.5% for 2025, 24.9% for 2026, and 23.9% for 2027 [5][31] - The projected net profit for the company is as follows: - 2023: 302 million - 2024: 168 million - 2025: 14 million - 2026: 200 million - 2027: 308 million - The expected growth rates for net profit are 60.8% for 2023, -44.3% for 2024, -91.8% for 2025, 1346.0% for 2026, and 50.7% for 2027 [5][31] Industry and Company Situation - The company focuses on new energy photovoltaic (photovoltaic frames) and automotive lightweight (aluminum profiles) businesses, with a strong market share in the photovoltaic frame industry [7] - The company is positioned to benefit from the increasing global photovoltaic installation capacity, which is expected to drive demand for photovoltaic frames [7] - The domestic new energy vehicle production is projected to maintain a high growth rate, which will increase the demand for aluminum profiles used in automotive lightweighting [7] - The acquisition of Wuhu Bida is expected to deepen cooperation with Chery Automobile, potentially boosting the company's performance [7] Key Assumptions - For new energy photovoltaic products, revenue growth is expected to be -5% in 2025, 16% in 2026, and 14% in 2027, with gross margins of 5.0%, 5.7%, and 5.5% respectively [7] - For automotive lightweight products, revenue growth is projected at 55% in 2025, 120% in 2026, and 80% in 2027, with gross margins of 13.5%, 15.5%, and 16% respectively [7]

在当天的活动中,座椅与方向盘轻量化项目同步启动。该项目由光禹公司联合产业链核心伙伴及科研机 构共同推进,聚焦汽车轻量化趋势,在材料应用、工艺优化及产品性能提升等方面展开深度合作。 项目启动仪式上,多位领导和嘉宾共同登台,按下启动装置,标志着光禹轻量化项目全面进入实质推进阶 段。 重庆光禹汽车零部件有限公司总经理李文庆在致辞中表示,新工厂的顺利投产,离不开涪陵区良好的营商 环境和政策支持,也凝聚了各级政府部门、合作伙伴与全体员工的共同努力。新工厂将以智能制造和精 益生产为导向,为企业下一阶段发展夯实产能与品质基础。 轻量化项目正式启动—政产学研协同发力产业前沿 轻量化项目同步启动,政企协同赋能汽车产业升级 12月18日,重庆光禹汽车零部件有限公司开业暨轻量化项目启动活动在涪陵区隆重举行。区委常委、涪 陵高新区(涪陵综保区)党工委书记邓远峰、涪陵区人民政府副区长高帆等区委、区政府相关领导,国家镁 铝合金材料工程技术研究中心重庆大学副教授王开等行业专家代表,以及东方鑫源集团有限公司董事长 龚大兴、一汽解放汽车有限公司成都分公司党委书记、总经理王忠诚、沈阳融创精密制造有限公司董事 长韩松、重庆钰淳汽车配件有限公司董事 ...

2025年12月18日理想材料负责人段吉超表示 左下角是沃尔沃的车身热成型比例变迁图，热成型的比例从个位数一直上升到38%，后来几乎没有再突破了（再说个小知识，这38%中只有33% 是1500MPa以上超高强钢。因为，热成型不都是1500MPa以上，也有几百MPa的、局部吸能少量使用，后略）。 干货分享【热成型钢用量越大，车身越安全？】 之前在网络上经常看到类似的话，大概就是哪个车的热成型钢比例高，所以它一定更安全。恰恰在各个车企的发布会上，热成型钢又是曝光度很 高的点，大概是因为简单的观点，往往传播力更强。 最近，恰巧我在北京总部举办了"材料技术日"活动，被不少媒体朋友问到这个点，今天就简单分享下。 先说结论，我认为这句话不严谨、不正确。 1、「热成型钢的使用原因」 热成型钢的定义我们不赘述了，通常大家理解的大概是车身上强度高达1500MPa-2000MPa的钢材（其实有些冷冲压、冷辊压也能到这个级别， 此处略）。我们使用它的主要原因，确实主要是因为它的强度高。把它用在车身碰撞传力路径的安全结构件，可以起到防止碰撞时过度变形、入侵乘员生 存空间的作用。 2、「为什么车身热成型比例没有一直往上走？」 其实，严 ...

金鸿顺所属申万行业为：汽车-汽车零部件-其他汽车零部件。所属概念板块包括：微盘股、小盘、新能 源车、新材料、汽车轻量化等。 12月19日，金鸿顺盘中上涨2.04%，截至10:16，报19.47元/股，成交1626.20万元，换手率0.47%，总市 值34.89亿元。 资金流向方面，主力资金净流出376.37万元，大单买入85.03万元，占比5.23%，卖出461.40万元，占比 28.37%。 金鸿顺今年以来股价跌21.93%，近5个交易日涨0.36%，近20日跌0.15%，近60日跌10.61%。 今年以来金鸿顺已经4次登上龙虎榜，最近一次登上龙虎榜为8月14日，当日龙虎榜净买入-601.94万 元；买入总计1.24亿元 ，占总成交额比20.62%；卖出总计1.30亿元 ，占总成交额比21.63%。 资料显示，苏州金鸿顺汽车部件股份有限公司位于江苏省张家港经济开发区长兴路30号，成立日期2003 年9月23日，上市日期2017年10月23日，公司主营业务涉及汽车车身和底盘冲压零部件及其相关模具的 开发、生产与销售。主营业务收入构成为：汽车零部件90.35%，其他5.38%，模具4.27%。 截至9月30日， ...

Group 1 - The core viewpoint of the news is that Wan'an Technology has shown a positive stock performance with a year-to-date increase of 15.05% and a recent rise of 2.04% in stock price, indicating investor interest and market activity [1] - As of December 10, 2023, Wan'an Technology reported a revenue of 3.46 billion yuan for the period from January to September 2025, reflecting a year-on-year growth of 14.15%, while the net profit attributable to shareholders was 148 million yuan, a slight increase of 0.30% [2] - The company has a diverse revenue structure, with the main business income composition being: sub-frame 34.08%, pneumatic brake system 27.81%, hydraulic brake system 25.51%, and others [1] Group 2 - Wan'an Technology has a total market capitalization of 7.26 billion yuan and a trading volume of 27.98 million yuan, with a turnover rate of 0.41% [1] - The company has been active in the stock market, appearing on the "Dragon and Tiger List" twice this year, with the most recent instance on May 20, where it recorded a net buy of -70.54 million yuan [1] - The company has distributed a total of 267 million yuan in dividends since its A-share listing, with 69.46 million yuan distributed over the past three years [3]

华源证券近日发布建材行业2025年三季报综述：建筑材料板块2025年前三季度全年营收同比-4.39%，毛 利率同比+1.61pct，费用率同比-0.31pct，归母净利率同比+1.08pct，对应归母净利润同比+20.56%，扣 非归母净利润同比+28.95%，其中2025Q3营收同比-0.95%，毛利率同比+0.84pct，费用率同比-0.76pct， 归母净利率同比+1.04pct，对应归母净利润同比+23.36%，扣非归母净利润同比+25.27%。 以下为研究报告摘要： 投资要点： 玻璃纤维：粗纱需求呈现结构化，高端电子布异军突起。2025年前三季度看，玻纤行业需求依旧呈现结 构化，受益于AI服务器迭代升级、高频通信技术革新带动高频高速PCB需求，特种玻纤布需求呈现加速 上行，驱动风电、热塑和电子类产品价格陆续实现不同幅度的上涨。但传统应用市场受宏观经济压力、 中美贸易摩擦及房地产相关行业低迷影响，有效需求不足，传统产品价格面临下行压力。值得注意的 是，随着9月初行业发布反内卷倡议，产品结构性复价陆续落地，预计后续盈利能力将逐步修复。 碳纤维：市场供应保持充裕，新兴需求仍然有限，传统需求出现分化。从供应 ...