Market Overview - The Sci-Tech Innovation 50 Index opened lower on June 11, reaching a closing value of 980.93 points, with a decline of 0.20% and a trading range of 1.00% [1] - The total trading volume for the day was approximately 21.33 billion yuan [1] Stock Performance - A total of 326 stocks on the Sci-Tech Innovation Board experienced gains, while high-priced stocks mostly declined and low-priced stocks performed better [2] - Excluding newly listed N Yingshi, the average decline for 587 stocks on the Sci-Tech Innovation Board was 0.28%, with an average turnover rate of 2.01% and a total trading volume of 79.47 billion yuan [3] Notable Stock Movements - N Yingshi officially listed on the Sci-Tech Innovation Board, with a total issuance of 41 million shares at a price of 47.27 yuan per share, resulting in a fundraising amount of 1.938 billion yuan [2] - N Yingshi's stock opened with a significant increase of 285.02%, closing with a rise of 274.4%, and a total trading volume of 21.29 million shares, with a turnover rate of 69.80% [2] - Among other stocks, Jiuri New Materials led with a gain of 15.05%, while Xinyu Ren experienced the largest decline at 9.68% [4] Trading Volume and Turnover Rates - Excluding N Yingshi, Haiguang Information had the highest trading volume at 4.37 billion yuan, while Qinchuan Wulian had the lowest at 6.82 million yuan [4] - The highest turnover rate, excluding N Yingshi, was 27.55% for Xinyu Ren, while Longteng Optoelectronics had the lowest at 0.13% [4]

Group 1 - The Shanghai Composite Index opened up 0.02% and the ChiNext Index rose by 0.34%, with strong performance in automotive parts, smart agriculture, and AI medical concept stocks, while seed industry and new consumption themes weakened [1] - The domestic policy toolbox is actively responding to external pressures, with the 2025 trade-in subsidy fund doubling to 300 billion yuan, expanding from 8 to 12 categories, including new additions like microwave ovens and water purifiers [1] - The policy emphasizes "online and offline equality," aiming to activate consumption potential in lower-tier markets, with home appliance trade-in sales surpassing 55 million units during the May Day holiday [1] Group 2 - The investment logic in the home appliance sector is shifting from "total growth" to "structural upgrade," with short-term support from domestic trade-in policies and a gradual pricing of export chain risks [1] - Long-term trends of intelligence, globalization, and greening are expected to reshape the competitive landscape of the industry, requiring investors to dynamically grasp industrial changes [1] - The optional consumption ETF closely tracks the CSI All-Share Optional Consumption Index, with top five constituent stocks including Midea Group, BYD, Gree Electric Appliances, and Haier Smart Home, with automotive and home appliances accounting for over 78% [2] - As the national economy continues to improve, disposable income per capita is rising, leading consumer spending to shift from food and clothing to transportation, healthcare, and consumer electronics, highlighting the investment value of the optional consumption sector [2]

Core Viewpoint - The article discusses the current market trends and investment opportunities, highlighting the recovery of certain cyclical sectors supported by fundamental data, and suggests a cautious yet strategic approach to investment selection [4][5]. Market Overview - On June 11, the three major stock indices opened higher, with the Shanghai Composite Index at 3385.46 points, up 0.02%, the Shenzhen Component Index at 10176.5 points, up 0.14%, and the ChiNext Index at 2044.28 points, up 0.34% [3]. - Strong performance was noted in sectors such as automotive parts, smart agriculture, servers, and AI medical concepts, while sectors like seed industry, rare earths, controllable nuclear fusion, and new consumption themes showed weakness [3]. Expert Opinions - Yuan Qiang from Guotai Junan Securities believes that some cyclical sectors are showing signs of recovery, supported by fundamental data, making them worthy of investment [4]. - Liu Jun from Guolian Securities suggests that while there are short-term investment opportunities, substantial index-level breakthroughs depend on fundamental improvements and industry collaboration [4]. - Fan Ming from Shenzhen Qianhai Duoying Wealth Management anticipates a gradual recovery in the consumer market in the second half of the year, supported by positive macroeconomic indicators [5]. Investor Sentiment - According to CITIC Securities, investor sentiment in May remained stable, with improvements due to easing US-China trade tensions, although concerns about domestic demand and price signals have dampened sentiment [9][10]. - Huaxi Securities emphasizes the need for a rotational strategy in trading technology stocks, as the market remains uncertain despite improved risk appetite due to US-China trade relations [11].

Group 1 - The Shaanxi Provincial International Economic Cooperation Promotion Association organized a delegation of 15 companies to participate in the 2025 Moscow International Automotive Parts and Aftermarket Exhibition, which is one of the key overseas exhibitions supported by the provincial commerce department [1] - The exhibition is the largest professional exhibition in Central Asia and Eastern Europe, with an exhibition area of 215,000 square meters, 1,700 exhibitors, and 80,000 attendees [1] - The participating companies from Shaanxi showcased a wide range of products, including high-performance engine parts, intelligent transmission components, brake pads, and filters, highlighting the strong capabilities and development potential of Shaanxi in the automotive parts and engineering machinery sectors [1] Group 2 - The Shaanxi delegation received over 3,000 clients at the exhibition, with an intended transaction amount of $44.05 million [2] - Shaanxi Zhongtian Rocket Technology Co., Ltd. secured 78 intended orders for carbon-ceramic brake discs, amounting to $1.86 million; Shaanxi Sikeside Trading Co., Ltd. signed orders worth approximately $24.5 million for mobile refueling machines [2] - Other companies such as Xi'an Tianming Tools Co., Ltd., Baoji Dadao Electromechanical Technology Co., Ltd., and Shaanxi United Import and Export Company also attracted attention from exhibitors and buyers, actively pursuing in-depth cooperation discussions [2]

Financial Data and Key Metrics Changes - The meeting confirmed that XPEL had 27,664,765 shares of common stock issued and outstanding as of April 15, 2025, with over 72% of eligible votes represented at the meeting [6][19]. Business Line Data and Key Metrics Changes - No specific financial data or key metrics for individual business lines were provided in the meeting. Market Data and Key Metrics Changes - No specific market data or key metrics were discussed during the meeting. Company Strategy and Development Direction and Industry Competition - The company emphasized the importance of leveraging the creativity and quality of content created by independent dealers to enhance marketing efforts [22][23]. - XPEL has focused on manufacturing localization and product innovation, which has improved their ability to innovate and respond to regional market needs [26][27]. - The company remains cautious regarding acquisitions in light of uncertainty in the automotive market, indicating that they will not overpay for acquisitions and will continue to pursue opportunities prudently [28][31][34]. Management's Comments on Operating Environment and Future Outlook - Management acknowledged the uncertainty in the automotive market but stated that it has not significantly impacted their acquisition appetite or strategy [28][34]. - They believe that the current market conditions do not necessitate drastic changes in their approach, maintaining a strong balance sheet allows for continued investment [34]. Other Important Information - The proposals for the election of board members, ratification of the independent accounting firm, approval of executive compensation, and adoption of the employee stock purchase plan were all approved by majority votes [19][20]. Q&A Session Summary Question: How does XPEL leverage the creativity of independent dealers in marketing? - Management highlighted the importance of amplifying content created by independent dealers through social media platforms like Instagram, indicating that they support content creators with products to enhance their marketing efforts [22][23][24]. Question: Has localization of production enhanced product innovation speed? - Management confirmed that localization has indeed enhanced their ability to innovate faster, supported by a deeper technical team and a focus on regional needs [26][27]. Question: How has uncertainty in the auto market affected acquisition strategies? - Management stated that while they remain cautious, their appetite for acquisitions has not changed significantly, and they will not overpay for opportunities [28][31][34].

证券代码：603107 证券简称：上海汽配 公告编号：2025-028 上海汽车空调配件股份有限公司 关于召开 2024 年度暨 2025 年第一季度 业绩暨现金分红说明会的公告 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法律责任。 重要内容提示： ? 会议召开时间：2025 年 06 月 09 日（星期一）13:00-14:45 ? 会议召开地点：上海证券交易所上证路演中心（网址： （二）会议召开方式：上证路演中心视频直播和网络互动 三、参加人员 总经理：王游沼 https://roadshow.sseinfo.com/） ? 会议召开方式：上证路演中心视频直播和网络互动 ? 投资者可于 2025 年 05 月 30 日（星期五）至 06 月 06 日（星期五）16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 zqb@saaa.com.cn 进行提问。公司将在说明会上对投资者普遍关注的问题进行回 答。 上海汽车空调配件股份有限公司（以下简称"公司"）已于 2025 年 4 月 22 日发布公司 2024 ...

Core Points - The company announced a cash dividend of 0.3 CNY per share for its A shares [1] - The total cash dividend distribution amounts to 101,200,500 CNY based on a total share capital of 337,335,000 shares [1] - The dividend distribution plan was approved at the annual shareholders' meeting on May 16, 2025 [1] Dividend Distribution Dates - The record date for the dividend is June 3, 2025, with the last trading day on June 4, 2025, and the ex-dividend date also on June 4, 2025 [1] - The cash dividend will be distributed to shareholders registered with the China Securities Depository and Clearing Corporation Limited, Shanghai Branch [1] Taxation on Dividends - For individual shareholders holding shares for more than one year, the dividend income is exempt from personal income tax [2] - For shares held for one year or less, the company will not withhold personal income tax at the time of dividend distribution, but tax will be calculated upon transfer of shares [2] - For Qualified Foreign Institutional Investors (QFII), a 10% corporate income tax will be withheld, resulting in a net dividend of 0.27 CNY per share [2][4] Additional Information - The company provides a contact number for inquiries regarding the dividend distribution [5]

截至2025年5月16日收盘，上海汽配(603107)报收于15.99元，上涨1.33%，换手率0.84%，成交量1.83万 手，成交额2925.44万元。 当日关注点 交易信息汇总 5月16日，上海汽配的资金流向显示，主力资金净流出297.32万元；游资资金净流出7.5万元；而散户资 金则净流入304.82万元。 公司公告汇总 上海汽车空调配件股份有限公司发布关于持股5%以上股东权益变动触及1%刻度的提示性公告。公告指 出，权益变动方向为比例减少，变动前合计比例17.04%，变动后合计比例16.80%，未违反承诺、意 向、计划，未触发强制要约收购义务。信息披露义务人为格洛利國際公司和迪之凯国际贸易（上海）有 限公司，二者为一致行动人，均为其他直接持股股东。本次权益变动不会导致公司控股股东和实际控制 人发生变化，所涉股份为无限售条件流通股，享有表决权，不存在表决权委托或受限情况。变动不涉及 披露权益变动报告书，不违反相关法律法规和承诺。根据证监会《证券期货法律适用意见第19号》，触 及1%整数倍需披露。格洛利國際公司变动前持股5041.5315万股，比例14.95%，变动后4959.2315万股， 比例14. ...

（央视财经《经济信息联播》）随着中美互降关税，广东佛山的不少外贸企业也迅速重启美国市场供应。这几天，他们的美国 老客户纷纷赶往中国，到企业实地考察工厂，并开展新一轮合作洽谈，美国贸易商迈克就是其中一位。 美国客商迈克是广东佛山一家汽车配件制造企业的"老朋友"，得知中美关税调整的消息后，他第一时间乘飞机来到中国，一落 地就马不停蹄直奔佛山工厂，争分夺秒只为加快推进此前洽谈好的合作，一边"催"工厂出货，一边向企业下单更多新品。 美国客商 迈克：我之前来过这里，他们现在做了很多改进，他们有很好的制造系统，全流程跟踪做得很好。 转载请注明央视财经 编辑：潘煦 在这家汽车配件生产车间，迈克向负责人详细咨询了企业最新开发的防眩目车灯，虽然这款新品还未量产，但可以自动识别行 人，智能调节亮度的新功能，已经引起迈克的浓厚兴趣。 美国客商 迈克：我想要一个样品，然后我就拿去看看能不能找到想要这款产品的客户。 迈克大约十多年前开始在中国采购各类汽车配件出口至美国，当中就包括佛山这家企业。每年，他都会向这家企业采购超千万 元的产品，供给美国各大汽车品牌制造商。这段延续了十多年的密切合作关系，在今年一度遭受严峻的考验，但随着中美互降 ...

Financial Data and Key Metrics Changes - Revenue grew 15.2% to $103.8 million in Q1 2025, with a notable performance across different regions [5][21] - EBITDA increased 23.2% to $14.4 million, reflecting a 14% EBITDA margin [23] - Net income rose 28.8%, resulting in an 8.3% net income margin and EPS of $0.31 per share [23] Business Line Data and Key Metrics Changes - Total window film product line revenue grew 28.1%, with automotive window tint increasing by 16.2% and architectural window film by 9.6% [22] - U.S. region revenue increased 11.6% to $58.1 million, while Canada region revenue declined 14.9% to $9.4 million [6][7] Market Data and Key Metrics Changes - China revenue was $8.1 million, aligning with expectations, and the company is working on a more direct business model in the region [9][30] - Europe achieved its second-highest revenue quarter, and the Middle East saw record revenue [10] Company Strategy and Development Direction - The company is focused on maintaining a strong capital allocation strategy, prioritizing investments in the business and potential M&A opportunities [17][18] - A $50 million share repurchase plan was approved, indicating confidence in the company's valuation [17] Management's Comments on Operating Environment and Future Outlook - Management noted uncertainty in the market due to tariffs and their potential impact on new car sales, but expressed optimism about current momentum in the U.S. [7][14] - The company is closely monitoring the evolving tariff situation and believes it can mitigate potential impacts [14][32] Other Important Information - The effective tax rate for the quarter was higher than normal at 23.9%, primarily due to foreign taxes [24] - Cash flow from operations was $3.2 million, and the company continues to build cash on its balance sheet [24] Q&A Session Summary Question: Insights on U.S. dealer network and demand velocity - Management indicated mixed responses from dealerships regarding pull-forward demand, suggesting some dealers experienced it while others did not [26][27] Question: Expectations for China business - Management highlighted improved supply chain efficiency and a desire to pursue a more direct business model in China [29][30] Question: Tariff impact on China business - Management stated that tariffs are a non-factor for the company due to diversified manufacturing locations [31][32] Question: Changes in take rate for films in the U.S. - Management believes that pull-forward customers are not their core buyers, and metrics indicate stability in take rates [38][39] Question: Headwinds from dealership inventory and logistics - Management acknowledged potential risks from inventory contraction but deemed it too early to identify it as a significant risk [41][42]