近一年广州大运摩托车有限公司摩托车产销情况统计图 数据来源：中国汽车工业(摩托车)产销快讯，智研咨询整理 知前沿，问智研。智研咨询是中国一流产业咨询机构，十数年持续深耕产业研究领域，提供深度产业研 究报告、商业计划书、可行性研究报告及定制服务等一站式产业咨询服务。专业的角度、品质化的服 务、敏锐的市场洞察力，专注于提供完善的产业解决方案，为您的投资决策赋能。 上市公司：钱江摩托（000913），信隆健康（002105），征和工业（003033），久祺股份（300994）， 林海股份（600099），上海凤凰（600679），中路股份（600818），力帆科技（601777），春风动力 （603129），爱玛科技（603529），隆鑫通用（603766），永安行（603776），新日股份（603787）， 绿通科技（301322），涛涛车业（301345），华洋赛车（834058） 相关报告：智研咨询发布的《2026-2032年中国摩托车行业市场全景评估及发展策略分析报告》 根据中国汽车工业(摩托车)产销快讯数据显示：2025年9月广州大运摩托车有限公司摩托车产量为38059 辆，同比下降3.34%，销量为38 ...

数据来源：中国汽车工业(摩托车)产销快讯，智研咨询整理 知前沿，问智研。智研咨询是中国一流产业咨询机构，十数年持续深耕产业研究领域，提供深度产业研 究报告、商业计划书、可行性研究报告及定制服务等一站式产业咨询服务。专业的角度、品质化的服 务、敏锐的市场洞察力，专注于提供完善的产业解决方案，为您的投资决策赋能。 根据中国汽车工业(摩托车)产销快讯数据显示：2025年9月慈溪金轮机车制造有限公司摩托车产量为 1236辆，同比下降28.06%，销量为1240辆，同比下降27.99%，产销率为100.32%，清仓4辆。 近一年慈溪金轮机车制造有限公司摩托车产销情况统计图 上市公司：钱江摩托（000913），信隆健康（002105），征和工业（003033），久祺股份（300994）， 林海股份（600099），上海凤凰（600679），中路股份（600818），力帆科技（601777），春风动力 （603129），爱玛科技（603529），隆鑫通用（603766），永安行（603776），新日股份（603787）， 绿通科技（301322），涛涛车业（301345），华洋赛车（834058） 相关报告：智研咨询发布的 ...

数据来源：中国汽车工业(摩托车)产销快讯，智研咨询整理 知前沿，问智研。智研咨询是中国一流产业咨询机构，十数年持续深耕产业研究领域，提供深度产业研 究报告、商业计划书、可行性研究报告及定制服务等一站式产业咨询服务。专业的角度、品质化的服 务、敏锐的市场洞察力，专注于提供完善的产业解决方案，为您的投资决策赋能。 相关报告：智研咨询发布的《2026-2032年中国摩托车行业市场全景评估及发展策略分析报告》 根据中国汽车工业(摩托车)产销快讯数据显示：2025年9月广东大联统摩托车有限公司摩托车产量为39 辆，同比下降72.34%，销量为39辆，同比下降72.34%，产销率为100%，无积压库存。 近一年广东大联统摩托车有限公司摩托车产销情况统计图 上市公司：钱江摩托（000913），信隆健康（002105），征和工业（003033），久祺股份（300994）， 林海股份（600099），上海凤凰（600679），中路股份（600818），力帆科技（601777），春风动力 （603129），爱玛科技（603529），隆鑫通用（603766），永安行（603776），新日股份（603787）， 绿通科技（30132 ...

根据中国汽车工业(摩托车)产销快讯数据显示：2025年9月福建省晋江市三力机车有限公司摩托车产量 为381辆，同比下降70.96%，销量为381辆，同比下降70.96%，产销率为100%，无积压库存。 上市公司：钱江摩托（000913），信隆健康（002105），征和工业（003033），久祺股份（300994）， 林海股份（600099），上海凤凰（600679），中路股份（600818），力帆科技（601777），春风动力 （603129），爱玛科技（603529），隆鑫通用（603766），永安行（603776），新日股份（603787）， 绿通科技（301322），涛涛车业（301345），华洋赛车（834058） 相关报告：智研咨询发布的《2026-2032年中国摩托车行业市场全景评估及发展策略分析报告》 数据来源：中国汽车工业(摩托车)产销快讯，智研咨询整理 知前沿，问智研。智研咨询是中国一流产业咨询机构，十数年持续深耕产业研究领域，提供深度产业研 究报告、商业计划书、可行性研究报告及定制服务等一站式产业咨询服务。专业的角度、品质化的服 务、敏锐的市场洞察力，专注于提供完善的产业解决方案，为您的投 ...

这笔交易的背后是珠海隆华资产价值的持续恶化。隆鑫通用在公告中称，尽管公司长期以来在资金和资 源方面为珠海隆华提供了重要支持，并积极寻求引进战略投资者，以期扭转局面，但该公司的商业化目 标始终未能有效实现，且长期处于经营亏损状态。截至2025年10月31日，珠海隆华账面净资产 为-6735.17万元，处于"资不抵债"的状态。 （图片系AI生成） 昨日晚间，隆鑫通用（603766.SH）披露两则重磅股权转让公告，宣布以合计1.056亿余元的价格，将珠 海隆华直升机科技有限公司（下称"珠海隆华"）49.9988%股权与遵义金业机械铸造有限公司（下称"金 业机械"）66%股权悉数转让。 这场折价"甩卖"虽标志着公司低效资产剥离取得进展，却需付出高昂代价：预计合计形成 7589.09万元 亏损，且珠海隆华拖欠的近7000万元借款恐面临"打水漂"风险。更值得关注的是，这仅是公司消化多年 前多元化战略后遗症的缩影，另一海外资产意大利CMD的股权转让已耗时两年仍未落地，聚焦主业 的"减负之战"远未结束。 "割肉"式剥离：1元甩卖与68%折价 为了进一步优化资产结构，集中优势资源加快主营业务发展，提升公司的经营水平和质量，隆鑫 ...

此次签约是太仓在新能源汽车及绿色交通装备制造领域迈出的重要一步，将有力提升太仓在高端制造产 业链中的核心竞争力。作为新大洲本田加快布局"油转电"战略的关键举措，该项目也将推动企业在太仓 持续扩大投资、集聚优质资源。 新大洲本田摩托有限公司是由新大洲和日本本田出资组建的中外合资企业。自落户太仓以来，新大洲本 田发展势头迅猛。其两家全资子公司——新大洲本田摩托(苏州)有限公司与苏州本新国际贸易有限公 司，已成为地方经济的重要支撑。其中，新大洲本田摩托(苏州)有限公司先后获评国家级绿色工厂、江 苏省高新技术企业等多项荣誉，今年全年预计实现产值80亿元，展现出强劲的发展潜力。 本报讯(龙美娟)11月11日，新大洲本田新能源摩托车总部项目正式签约落户太仓高新区。该项目计划总 投资10亿元，聚焦新能源摩托车的研发、制造与销售，预计于明年5月底前开工建设，全面达产后年产 值有望突破30亿元，为太仓绿色交通产业生态的完善与升级注入强劲动力。 ...

Core Viewpoint - Longxin General (603766) is divesting its stakes in Zhuhai Longhua Helicopter Technology Co., Ltd. and Zunyi Jinye Machinery Casting Co., Ltd. to focus on its core business and improve financial health [1][2] Group 1: Strategic Focus and Asset Divestiture - The company plans to transfer its entire 49.9988% stake in Zhuhai Longhua and 66% stake in Jinye Machinery, marking a significant step in its strategy to divest non-core and loss-making assets [1] - This divestiture is part of a broader strategy initiated in 2021 to focus on core operations, following a history of unsuccessful diversification efforts since 2014 [2] Group 2: Financial Performance and Impact - Jinye Machinery has not met performance commitments for two consecutive years since its acquisition in 2018, leading to an initial goodwill of 294 million yuan that will be fully amortized by 2024 [1] - Zhuhai Longhua has only achieved profitability in 3 out of 12 years since its establishment, resulting in an impairment of intangible assets totaling approximately 89 million yuan since 2022 [1] - The company reported a revenue of 14.557 billion yuan in the first three quarters of the year, a year-on-year increase of 19.14%, and a net profit of 1.577 billion yuan, reflecting a significant growth of 75.45% year-on-year [2] Group 3: Future Outlook - The asset divestiture is expected to alleviate financial burdens, optimize asset structure, and enhance overall operational efficiency and asset quality [1] - The company aims to continue focusing on its core business and accelerate its globalization efforts to promote sustainable high-quality development [2]

Core Viewpoint - The establishment of the new Liangjiang New Area in Chongqing marks a significant administrative and economic transformation, enhancing its role as a key economic driver in the region [2][8]. Group 1: Administrative Changes - The Liangjiang New Area has officially gained administrative district functions, transitioning from a national-level development zone to a fully-fledged administrative district [4]. - The administrative adjustment includes the incorporation of the entire Jiangbei District and most of the Yubei District into the Liangjiang New Area, leading to the cancellation of the original Jiangbei and Yubei districts [4]. Group 2: Economic Performance - In 2024, the GDP of Liangjiang New Area is projected to reach 518.2 billion yuan, accounting for approximately 16% of Chongqing's total GDP of 32,193.15 billion yuan [11]. - The area contributes significantly to Chongqing's economy, with 20% of the city's industrial output, 30% of total imports and exports, 60% of automobile production, and 70% of cross-border e-commerce transactions [11]. Group 3: Comparison with Other National-Level New Areas - Liangjiang New Area ranks fourth among national-level new areas in terms of GDP, with a growth rate of 6.0% in 2024, which is competitive compared to other regions [12]. - Despite its leading position within Chongqing, Liangjiang's economic "first-mover advantage" is still lower compared to other national-level new areas, such as Shanghai's Pudong New Area, which has a GDP of 1.78 trillion yuan and a regional dominance of about 33% [13]. Group 4: Strategic Importance - The transformation of Liangjiang New Area is seen as essential for enhancing its capacity to attract high-quality resources and investments, especially in the context of changing global economic conditions [22][28]. - The integration of administrative and development functions is expected to improve efficiency in resource allocation and economic management, which is crucial for the area's future growth [26][27]. Group 5: Industrial Trends - Recent years have seen a shift in Chongqing's industrial layout, with significant developments moving westward and some towards the south and east, indicating a diversification of economic activities [31][32]. - The new Liangjiang New Area is positioned to serve as a core economic engine for Chongqing, with a focus on enhancing its influence in the broader southwestern region of China [32][33].

Group 1 - The core viewpoint of the report is that Longxin General (603766.SH) is rated "outperform" by Guosen Securities due to its strong position in the motorcycle and general machinery sectors and its global expansion efforts [1] - Longxin General is making significant strides in the motorcycle market, particularly with its Wujie motorcycle brand entering European and South American markets [1] - The all-terrain vehicle segment is expected to maintain rapid growth, contributing positively to the company's overall performance [1] Group 2 - The overseas expansion of motorcycle engines is anticipated to boost export revenue, enhancing the company's financial outlook [1] - The general machinery products are characterized by high cost-performance ratios, suggesting a potential recovery in business operations [1]

Investment Rating - The report assigns an "Outperform the Market" rating for the company, with a reasonable valuation range of 15.80 to 16.70 CNY per share, indicating a potential upside of 10% to 17% from the current price of 13.68 CNY [7][4]. Core Insights - The company is transitioning from OEM to developing its own brands, particularly focusing on the high-end motorcycle brand "Wujin" and expanding into global markets, especially Europe and South America [16][19]. - The motorcycle and general machinery sectors are the main business areas, with motorcycle revenue expected to grow significantly, while general machinery is anticipated to recover [22][21]. - The company has undergone a significant restructuring, with a new major shareholder, which is expected to stabilize operations and enhance profitability [33][21]. Summary by Sections Company Overview - The company has a diversified product line including motorcycles, engines, ATVs, and general machinery, with a strong focus on the "motorcycle + general machinery" business model [21][30]. - The company aims to become a global motorcycle enterprise, with motorcycle and general machinery revenues projected to account for 75% and 21% of total revenue, respectively, by 2024 [21][4]. Market Expansion - The "Wujin" motorcycle brand is making significant inroads into the European and South American markets, with a market share exceeding 5% in Spain and growing brand recognition in Italy and other regions [2][4]. - The global ATV market is expected to grow to 15 billion USD by 2028, and the company is leveraging its engine technology to enhance its product offerings in this segment [2][4]. Financial Performance - The company forecasts substantial revenue growth, with expected revenues of 19.69 billion CNY in 2025, representing a 17.1% increase from the previous year [5]. - Net profit is projected to reach 1.91 billion CNY in 2025, reflecting a 70.2% year-on-year growth, with earnings per share expected to increase to 0.93 CNY [5][4]. Valuation and Profitability - The report anticipates a recovery in profitability, with net profit margins improving from 2.8% in 2021 to 6.3% in 2024, driven by reduced impairment losses and increased sales of high-end motorcycles [44][42]. - The company's valuation metrics indicate a PE ratio of 15.4 in 2025, suggesting a favorable investment opportunity compared to historical averages [5][4].