海外华文媒体走进安徽休宁："小开关"何以连接全球汽车链？ 中新网安徽休宁11月17日电(记者储玮玮 张俊 韩苏原)"没想到黄山脚下一座的皖南小城，都藏着中国汽 车零部件行业的龙头企业，安徽的汽车产业果然名不虚传。"17日，新西兰《中新时报》总编崔志珅在 接受中新网记者采访时说。 11月17日，2025海外华文媒体走读安徽活动走进黄山市休宁县昌辉汽车电器(黄山)股份公司。中新 社记者储玮玮 摄 当天，2025海外华文媒体走读安徽活动走进黄山市休宁县昌辉汽车电器(黄山)股份公司(下称"昌辉")， 透过"小开关"看见安徽汽车产业发展的澎湃动能。 在组合开关车间，28条柔性装配生产线上，170多名一线工人正在生产汽车组合开关、功能开关、时钟 弹簧等产品。昌辉总经理助理唐洁莉说，公司目前设有9大车间，其中3个为零件生产车间，6个为产品 组装车间，可生产的开关型号2000余种。 历经50年的发展，目前，昌辉拥有近300项专利技术，主导或参与起草汽车组合开关、EGR阀门等7项行 业及地方标准，跻身国家重点高新技术企业、中国汽车零部件行业龙头企业、国家级专精特新重点"小 巨人"企业行列。 崔志珅认为，昌辉从乡镇小微企业发展成 ...

格隆汇11月17日丨瑞立科密(001285.SZ)在投资者互动平台表示，公司拥有One-box方案的线控液压EHB 产品。公司的one-box方案的线控液压EHB产品已对接乘用车意向客户，公司会结合市场拓展策略与更 多车企进行合作，已扩大EHB产品的市场份额。发行人的EMB产品开发进度整体与行业领先企业较为 接近，已处于装车测试阶段。 ...

格隆汇11月17日丨宁波华翔(002048.SZ)在投资者互动平台表示，公司与日本头部综合商社合作，前期 主要聚焦在机器人的二次开发和销售。 ...

万通智控科技股份有限公司投资者关系活动记录表 证券代码：300643 证券简称：万通智控 1 | 活动主要内 | 情况，并做 2025 年三季度业绩情况汇报及解读。 | | | --- | --- | --- | | 容 | 二、互动交流环节： | | | | 1、公司三季度净利润增长明显高于营业收入增长的原因？ | | | | 答：今年第三季度，公司实现营业收入 亿元，同比增长 19.97%； 3.02 | | | | 归母净利润 3,233.71 万元，同比增长 33.65%。净利润增长比例明显高 | | | | 于营业收入，主要原因是公司业务收入结构优化，高毛利率的产品特 | | | | 别是 传感器和商用车 产品销售持续稳定增长。 TPMS NLP | | | | 2、近期关税政策对公司在美国业务的影响如何？ | | | | 答：公司销售至美国市场的传感器及数字信息控制系统目前都是在泰 | | | | 国工厂本地化生产并出口。2025 年 10 月，美国与泰国等东南亚四国 | | | | 签署贸易协议，美国维持对泰国商品 19%基准税率，部分商品零关税。 | | | | 公司自 2018 年就开始全球 ...

近期，2025年第三季度业绩说明会上，均胜电子（600699）表示公司新一代支持双向能量传输的高压平 台车载充电器（OBC），是基于新能源管理及网联能力技术能力的创新型产品，具备完整车网互动 （V2G）功能，可适用于全球所有电网标准，目前已经为头部车厂客户量产供货产生营收。 同时，均胜电子还在积极布局全球储能市场。均胜电子表示，基于储能市场领域在V2G技术原理上具备 通用性，公司正在紧密跟踪观察全球储能市场领域的发展趋势，积极评估包括欧洲、亚洲在内的多个重 点市场，计划充分发挥自身在高压充放电管理技术、全球的研发与供应链体系的核心优势，把握庞大储 能市场的业务机遇。 ...

Core Viewpoint - The current market has weak expectations for automotive stimulus policies and total production and sales for next year, leading to a diminished cyclical attribute of the automotive sector. The core focus is on technological attributes and emerging growth directions [1][2]. Automotive Sector - The automotive sector is experiencing a revaluation of its technological attributes, with a focus on structural growth. The strong performance of stocks like XPeng Motors and Weichai Power is noted, driven by XPeng's recent technology day showcasing advancements such as the second-generation VLA model, Robotaxi, and humanoid robot Iron, which have boosted market expectations [1][2]. - The automotive and robotics sectors are positioned as core applications of physical AI, with potential to catalyze a turning point in industry trends as technologies from Tesla, such as FSD V14 and Optimus, are set to be launched and mass-produced in 2026 [1][2]. Robotics Sector - The robotics sector has seen a continuous pullback since the fourth quarter, with some quality stocks entering a bottoming configuration. The industry is on the verge of significant advancements, and the current pullback is attributed to previous substantial gains and a temporary lack of catalysts [3]. - Market focus is on the upcoming Q1 2024 release of Tesla's third-generation Optimus prototype and the progress of the supply chain's fixed-point contracting [3]. Passenger Vehicle Sector - The passenger vehicle sector shows stable weekly insurance sales, with new models like XPeng's extended-range platform and the Xingtu ET5 demonstrating strong cost-performance ratios. However, market reactions are muted due to expectations of weaker total sales next year, with structural growth remaining in high-end and overseas markets [4]. - The lithium battery and materials segments are benefiting from a surge in demand for energy storage, leading to price increases in sectors like 6F, reinforcing a logic of rising volume and price [4]. Commercial Vehicle Sector - The commercial vehicle sector is performing well as a high-quality, undervalued asset, with expectations for steady growth in overseas markets, particularly in buses and motorcycles, which show higher growth elasticity [5]. - The heavy-duty engine supply chain is benefiting from the ramp-up of AIDC, with leading companies like Weichai Power expected to see a revaluation of their stock [5].

Core Viewpoint - The company, Landai Technology, has completed the sale of assets related to its electric drive assembly business to Luxshare Precision for approximately 110 million RMB, aiming to optimize its asset structure and focus on core businesses in the new energy vehicle sector while addressing ongoing losses from its subsidiary [1][2][3] Group 1: Asset Sale Details - The asset sale involves the transfer of related assets and rights from the wholly-owned subsidiary, Ma'anshan Landai Machinery, to Ma'anshan Luxshare, with a total consideration of approximately 110 million RMB [1][2] - The net value of the assets, after depreciation, was assessed at approximately 109.9 million RMB, with the final transfer price being higher than the initial proposed price of 97.27 million RMB and the assessed value [2][3] - The assets sold include production line equipment, with a book value of 139 million RMB and a net value of 116 million RMB after depreciation [3] Group 2: Financial Performance and Strategic Moves - For the first three quarters of 2025, the company reported a revenue of 2.79 billion RMB, a year-on-year increase of 6.6%, and a net profit of 171 million RMB, up 64.6% [5] - The company aims to enhance profitability and optimize its asset structure following a change in control to Anhui State-owned Assets Supervision and Administration Commission, with performance commitments set for 2025 to 2027 [4][5] - The subsidiary, Ma'anshan Landai Transmission, has been a financial burden, contributing only 4%-5% of total revenue while incurring losses of 17.38 million RMB and 29.26 million RMB in 2024 and the first three quarters of 2025, respectively [4]

Investment Rating - The investment rating for the company is "Outperform the Market" [6][3]. Core Insights - The company has achieved a net profit of 229 million yuan in Q3 2025, representing a year-on-year growth of 38%. For the first three quarters of 2025, the company reported a revenue of 11.416 billion yuan, up 0.40% year-on-year, and a net profit attributable to shareholders of 729 million yuan, up 29.38% year-on-year [1][9]. - The automotive lightweight components business continues to optimize customer structure and enhance R&D efforts in aluminum and magnesium alloy applications. The company is also expanding its collaboration with key new energy customers [2][25]. - The general aviation aircraft manufacturing business is focused on innovation, with a strong order book and ongoing development of new aircraft models, including eVTOL and drones. The acquisition of Volocopter's core assets aims to create a commercial ecosystem for urban air mobility solutions [2][26]. Summary by Sections Financial Performance - In Q3 2025, the company reported a revenue of 3.922 billion yuan, down 1.93% year-on-year, and a net profit of 229 million yuan, up 38.14% year-on-year. The gross margin for Q3 was 15.3%, a decrease of 0.4 percentage points year-on-year, while the net margin improved by 1.3 percentage points to 6.6% [1][18]. - For the first three quarters of 2025, the automotive lightweight components revenue was 9.385 billion yuan, a slight increase of 0.02% year-on-year, while the general aviation aircraft revenue was 2.031 billion yuan, up 2.20% year-on-year [9][26]. Business Segments - The automotive lightweight components segment focuses on aluminum and magnesium alloys, with ongoing efforts to enhance production efficiency and optimize product structure for new energy vehicles [25][29]. - The general aviation segment is expanding its market presence with a robust order book and continuous innovation in aircraft manufacturing, including the development of eVTOL and other new aircraft models [2][26]. Future Outlook - The company maintains its revenue forecasts for 2025-2027 at 17.843 billion yuan, 19.328 billion yuan, and 21.098 billion yuan, respectively, with net profits projected at 1.001 billion yuan, 1.201 billion yuan, and 1.405 billion yuan [3][35].

Core Viewpoint - Jingxi International (02339) experienced a significant stock price fluctuation, initially opening lower but later rising over 18%, reflecting market reactions to its recent financing announcements [1] Financing Details - The company plans to issue 430.8 million shares to its controlling shareholder and three other subscribers, along with convertible bonds amounting to approximately 409 million yuan, raising a net amount of 710.4 million yuan [1] - The allocation of the funds includes 40% for the construction of new production lines and upgrading existing lines at its Poland facility, 30% for operational funds at the Poland facility, 25% for operational funds at technology centers in Poland, Italy, and France, and 5% for operational funds at the company's Hong Kong headquarters [1] Market Context - The financing decision is driven by the robust growth in the automotive market and the complexities associated with transitioning to electric vehicles, which have diversified the demand for internal combustion, hybrid, and electric vehicle components [1] - The company has faced rising operational costs and R&D investments, alongside increased pressure on working capital and talent requirements [1] R&D Achievements - Jingxi International has made significant investments in R&D, achieving a fully controllable supply chain for magnetorheological dampers, being the first in the domestic market to do so, and holds all relevant intellectual property rights [1]

京西国际(02339)今日早盘大幅低开，此后股价转涨逾18%。截至发稿，涨15.89%，报1.24港元，成交额 1224.95万港元，总市值约10.68亿港元。 公告称，公司进行融资的原因是汽车市场稳健增长及向纯电动车转型的复杂性，导致内燃机、混合动力 及电动车元件需求多元化，运营成本和研发投入急剧攀升，同时对营运资金和人才需求也构成压力。据 悉，近年来，京西智行持续投入研发，在国内率先实现了磁流变减震器的全产业链自主可控，全栈自 研，拥有全部知识产权。 消息面上，京西国际宣布，公司将向控股股东等4名认购方配发4.308亿股股份；将向控股股东发行本金 额约4.09亿元的可换股债券，此次配发及发行股份与可换股债券所得款项净额7.104亿元。其中40%用作 集团波兰生产厂房新建生产线及升级现有生产线；30%用作集团波兰生产厂房的营运资金；25%用作波 兰、意大利及法国技术中心的营运资金；及5%用作公司香港总部的营运资金。 ...