久祺股份有限公司投资者关系活动记录表 | 投资者关系活动 | √特定对象调研□分析师会议 | | --- | --- | | 类别 | □媒体采访□业绩说明会 | | | □新闻发布会□路演活动 | | | □现场参观 | | | □其他（请文字说明其他活动内容） | | 参与单位名称及 | 详见附件 | | 人员姓名 | | | 时间 | 年 月 日（星期四） 2025 5 22 | | 地点 | 杭州城中香格里拉酒店 | | 上市公司接待人 | 1、董事会秘书兼财务总监雍嬿 | | 员姓名 | 2、证券代表 陆佳骐 | | | 1、公司目前 E-BIKE 销售占比是多少，未来 E-bike 前景如 何？ | | | 答：根据公司披露的 2024 年年度报告数据，E-BIKE 产品占 | | | 公司整体营业收入的比例大概为 10%。 | | | 目前来看 E-BIKE 产品未来市场空间呈现积极发展趋势。公 | | | 司开发智能控制系统及与高校合作研发，以提升竞争力。从行业 | | 投资者关系活动 | 趋势看，全球环保政策及绿色出行理念的普及加速了 E-BIKE 对 | | 主要内容介绍 | 传统交通勤自 ...

Group 1 - The article highlights the innovation of a smart wireless electronic transmission system for bicycles, which allows for gear shifting in just 1.5 seconds, significantly faster than traditional systems that take 2 to 3 seconds. This technology has received national patent protection and is priced at one-third of similar foreign products [1] - The bicycle industry in Xingtai City, particularly in Guangzong County, has a complete production chain, enabling the manufacturing of high-end bicycle components, including gear systems and smart sensors, which were previously a bottleneck in the industry [1] - The digital economy in Pingxiang County has been boosted by a decade-long push for "e-commerce + live streaming," resulting in a mature ecosystem with over 10,000 practitioners and 8,000 active online stores, effectively connecting production and sales [2] Group 2 - Xingtai City is actively promoting cycling events and creating high-quality cycling routes, which has led to a surge in cycling activities and increased sales of bicycles and related products [3] - The Hebei Tianwang Bicycle Technology Co., Ltd. has shifted its focus to producing sports bicycles and racing bikes, resulting in a 25% increase in product sales and a 25% rise in foreign trade orders after participating in cycling events [3] - The synergy between cycling events and production is creating new opportunities for the traditional bicycle industry, driving consumption expansion and industrial upgrades in Xingtai [3]

2025中国自行车国际展览会5月初在上海举办。作为亚洲最大、世界前三的国际自行车展，记者在 采访中发现，人工智能和数字技术对中国自行车全行业带来巨大影响。从上下游供应链到智能化生产， 到AI创新应用，整车企业、零部件企业和软件服务企业都在积极向数智化转型靠拢。 智能生产与数据驱动，自行车制造的新趋势 在自行车行业，数字化转型已成为企业提升竞争力的关键。广东千里达，作为国内知名的自行车制 造商，一直致力于通过技术创新提升产品质量和生产效率。在本次展会上，千里达总经理张小平向记者 介绍了公司在数字化转型方面的实践和成果。 "我们开发了CRM（客户关系管理）系统，实现了从客户到代理商的全流程信息化管控。通过与客 户的紧密沟通，企业能够收集客户对未来3-6个月的市场预估数据，这些数据成为企业进行供应链市场 预估的重要依据，帮助企业更精准地安排生产计划，避免库存积压或缺货现象的发生。"张小平介绍。 在产品研发过程中，银贝斯积极引入人工智能技术。蔡正昌强调，人工智能赋能科技的关键在于数 据。通过收集和分析庞大的用户数据，企业能够深入了解用户的使用习惯、偏好和潜在需求，然后以此 为依据反向驱动产品研发。同时，银贝斯更加注重 ...

Core Insights - Tezeus, an electric bicycle manufacturer, has secured 50 million yuan in Pre-A round financing, led by Wuxi Huishan Science and Technology Innovation, with participation from industrial investor Inpai Si and existing shareholder Haiyi Investment [1] - The funds will be utilized for product development, production, and market expansion [1] Company Overview - Tezeus was established in 2022, focusing on electric bicycles (E-bikes) [1] - The flagship product, Tezeus C8, was launched in Europe in October 2022 and has since shipped thousands of units [1] Product Development - Tezeus has developed core components such as mid-mounted motors and electronic controls in-house, along with an E-bike system, IoT management backend, and mobile app [1] - The C8 model will see a new version released this year, reducing weight to 1.8 kg and increasing maximum torque to 85 NM for enhanced riding experience [1] - AI technology is employed for personalized assistance and energy management, improving battery life and riding efficiency [2] Production Capacity - Tezeus produces key components like mid-mounted motors, BMS, batteries, radar modules, and smart vehicle modules in-house, with assembly outsourced to a contract manufacturer [4] - A new production base for E-bike components is being established in Wuxi, with an expected annual capacity of 60,000 units upon completion [4] Market Strategy - The C8 series includes two versions, with the geared version priced over 3,000 euros, targeting the mid-to-high-end market [6] - Tezeus primarily exports E-bikes to Europe, operating an independent online store and 35 offline stores across several countries, with plans to expand to 100 stores this year [7] - The company will introduce two new models and enter the U.S. market, including a women's E-bike and a carbon fiber folding E-bike [7] Investor Perspective - The chairman of Huishan Science and Technology Innovation highlighted Tezeus as a technology-driven smart terminal company, emphasizing its self-developed components and integrated software-hardware capabilities [8]

Group 1 - The U.S. Treasury Secretary Bessent warned that unconventional measures to avoid a debt default may run out as early as August, urging Congress to act before the mid-July recess to raise or suspend the debt ceiling to protect the government's credit rating and repayment ability [1] - The U.S. government reached its statutory debt limit of $36.1 trillion in early January and has since implemented a series of unconventional measures to manage cash flow, which are now nearly exhausted as of April 30 [1] - The cash flow situation of the federal government is more severe than expected, emphasizing the urgency for Congress to address the debt ceiling issue to prevent a catastrophic debt crisis in August [1] Group 2 - The U.S. government's decision to escalate the global tariff war, particularly the 145% tariff on China, has led to significant cost increases across various sectors, ultimately impacting American consumers [2][3] - The implementation of the new tariffs has resulted in price surges for products such as bicycle parts, baby products, and automotive repairs, with some items seeing price increases of $50 to $300 [4][5] - The automotive aftermarket is projected to see a 20%-30% increase in the price of imported parts, with specific examples showing substantial cost hikes for repairs [6] Group 3 - There is growing opposition to the tariff policies among Trump's traditional supporter base, particularly among younger consumers aged 18-35, who report significant price increases for fast fashion and electronics [7] - Financial institutions are beginning to question the efficacy of Trump's tariff policies, with reports indicating that some investors are withdrawing from the U.S. market and reallocating funds to Asia and Europe [8][9] - The uncertainty surrounding U.S. policies and potential economic recession risks has prompted family offices and investment advisors to adjust their strategies, reducing exposure to U.S. equities and bonds [9]

Group 1 - The 2025 China International Bicycle Exhibition in Shanghai attracted nearly 1,600 domestic and international exhibitors, marking a record scale for the event [1] - Notable participating companies included Ji Qi Co., Ltd., Zhonglu Co., Ltd., Ananda, Tuobang Co., Ltd., and Shanghai Phoenix [1] - Zhonglu Co., Ltd.'s subsidiary, Shanghai Forever Bicycle Co., Ltd., showcased its high-end sub-brand "Dragon Brand," which utilizes advanced materials and technologies to enter the high-end market [1] Group 2 - The "Dragon Brand" series includes two original products, "Yinglong" and "Qinglong," set to launch in 2024, with the "Yinglong" winning a gold medal at the China Electric Bicycle Design Competition [1] - The series features a frame valued over 10,000 yuan, breaking the traditional price barrier of around 1,000 yuan for Forever bicycles, showcasing the brand's high-end innovation [1] - Forever Bicycle primarily targets the domestic market through a multi-channel approach, creating a brand matrix across different price ranges to cater to various consumer needs [2] Group 3 - Zhonglu Co., Ltd. announced plans to acquire a 52.87% stake in the well-known bicycle brand Factor, which specializes in high-performance carbon fiber road bicycles [2] - This acquisition aims to enhance Forever Bicycle's brand strength and market competitiveness by leveraging Factor's strong R&D capabilities and established sales network [2] - The company plans to focus on the bicycle industry chain's development, integrating resources to build top-tier carbon fiber bicycle technology and expand high-end models into overseas markets [3] Group 4 - Forever Bicycle aims to cover a full product line for all life stages, including children's bikes, commuting bikes, mountain bikes, and electric motorcycles, while maintaining a competitive price-performance ratio [3] - The company intends to uphold its status as a traditional Chinese brand by meeting consumer demands for quality and service, adapting to market changes [3]

在3月20日至4月20日的一个月内，一家美国自行车企业支付了约310万美元的关税。 美国哥伦比亚广播公司网站近期发布的一篇文章聚焦了关税对于一家总部位于新泽西州的自行车企业的影响。这家从事自行车相关业务的家族企业已经传承 了4代，从1972年的一共6名员工，发展到目前超过200名员工的规模。这家企业每年在美国销售约200万辆自行车，也是沃尔玛最大的自行车供应商之一。 然而，美国政府的关税计划正在破坏这家公司的"美国梦"。 这家公司约90%的自行车是从中国进口的，其余的则在美国组装，用的也还是来自亚洲的零件。自特朗普的首个任期以来，该公司为自行车以及自行车零件 支付的关税税率为25%。在美国政府上月实施新关税政策后，该公司不得不为一船因延误而在新关税生效后才到港的货物支付了总计高达181.47%的进口税 与关税。在 3 月 20 日至 4 月 20 日的这一个月内，仅关税该公司便支付了 310 万美元。 该公司负责人举例说，新关税下从中国进口一个自行车轮胎需要花30美元，在之前只需要花10到12美元，这让他感到"很糟糕"并"愤怒"。他表示，关税由美 国海关每月从其账户中自动扣除，所以"不是中国支付这些关税"。 ...

5月9日消息，据智通财经报道，自美国政府加征关税政策实施以来，美国自行车产业正面临前所未有的成本压 力。多家企业负责人近日公开表示，关税上调导致关键零部件成本暴涨，企业利润空间被严重挤压，部分中小制 造商甚至面临生存危机。 图片来源：IC 核心零部件成本翻番 整车价格承压 美国自行车制造商协会（BMA）成员企业、某中型自行车品牌负责人阿诺德·坎普勒（Arnold Kampler）在接受采 访时透露，其公司约90%的自行车整车直接从中国进口，剩余10%虽在美国本土组装，但车架、变速器、轮胎等 核心零部件仍依赖亚洲供应链。他以自行车轮组为例指出："一个基础款轮组的成本原本为10至12美元，加征关税 后飙升至30美元，涨幅超过200%。" 关税压力已直接传导至企业财务表现。坎普勒透露，仅在3月20日至4月20日的一个月内，其公司就向美国海关缴 纳了超过310万美元的关税，较去年同期激增340%。"我们不得不将部分成本转嫁给消费者，但价格涨幅已接近市 场承受极限。"他坦言，若关税政策持续，公司或将被迫削减产品线、裁员甚至停产部分型号。 供应链重构受阻 "美国制造"难解困局 为应对关税冲击，部分美国企业尝试推动供应链本 ...

证券代码：300994 证券简称：久祺股份 公告编号：2025-003 久祺股份有限公司投资者关系活动记录表 | 投资者关系活动 | 分析师会议 √特定对象调研 □ | | --- | --- | | 类别 | □ 媒体采访 □业绩说明会 | | | □ 新闻发布会 □ 路演活动 | | | √ 现场参观 | | | 其他 （请文字说明其他活动内容） □ | | 参与单位名称及 | 详见附件 | | 人员姓名 | | | 时间 | 年 月 日 月 日（周三） 2025 5 6 (周二) 、5 7 | | 地点 | 上海新国际博览中心 W2 馆久祺股份有限公司展位 | | 上市公司接待人 | 1、董事会秘书兼财务总监 雍嬿 | | 员姓名 | 2、证券代表 陆佳骐 | | 投资者关系活动 | 1、今年公司业务复苏的原因，全年增速预期如何？ 答：主要原因是海外库存消化，加上海外市场需求恢复带来 业务复苏。 | | | 2、公司客户库存周期一般是多久，前几年库存高是什么原 | | | 因？ | | | 答：公司客户正常情况库存周期一般是 2-3 个月，包括销售、 | | | 款、下单到运输到销售等环节。近年库存高点 ...

与此同时，上海凤凰将关注点转向内销市场。3月18日，原本向美国市场输出的童车产能，"转战"东方 甄选直播间。经过连续40小时的直播，访客人数达到164.6万人次，成交金额达到715.8万元。上海凤凰 办公室主任徐力告诉记者："本来我们打算播20小时，后来看到气氛越来越火爆，双方当即决定，再延 长20小时。" 面对关税大棒，128岁的上海凤凰自行车正在谋求逆风突围：并购日本百年品牌丸石之后抢占高端市 场，在印尼斥资建厂对冲贸易风险；40小时直播狂揽715万元销售额，将受阻的产能"转战"国内骑行消 费新蓝海…… "近阶段我们受损产品，主要是在美国沃尔玛等大型商超售卖的，但由于我们近几年不断调整出口方向 和产品结构，这给了我们一定的回旋余地。"凤凰集团总经理王朝阳介绍道。 事实上，早在特朗普上一任期启动贸易战1.0版时，上海凤凰便已经开始未雨绸缪。2020年，通过并 购，上海凤凰成功将有着131年历史的日本丸石品牌纳入麾下。丸石在日本家喻户晓，此次并购，让上 海凤凰拿到了与国际品牌同场竞技的"门票"。 近年来，上海凤凰又不断加大凤凰锂电专属子品牌Phoenix Electric的研发和市场拓展力度。如今，包括 都市 ...