证券代码：688667 证券简称：菱电电控 公告编号：2025-048 武汉菱电汽车电控系统股份有限公司 关于发行股份及支付现金购买资产报告书 （草案）（申报稿）修订说明的公告 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。 武汉菱电汽车电控系统股份有限公司（以下简称"上市公司"或"公司"） 拟发行股份及支付现金购买北京兰之穹信息科技研究中心（有限合伙）等27名交 易对方合计持有的江苏奥易克斯汽车电子科技股份有限公司98.4260%股份（以下 简称"本次交易"）。 本次交易相关议案，并披露了《武汉菱电汽车电控系统股份有限公司发行股份及 支付现金购买资产报告书（草案）（申报稿）》，具体内容详见公司同日在上海证 券交易所网站（http://www.sse.com.cn）披露的相关文件。 序及报批程序。 重大风险提示 1、本次交易已经上市公司股东大会审议通过，更新审批风险。 第一节 本次交易 市公司股东大会审议通过相关表述； 概况 2、本次交易已经上市公司股东大会审议通过，更新本次交易已履行和尚需履行 的决策及审批程序。 要事项 特 ...

证券代码：688667 证券简称：菱电电控 公告编号：2025-046 武汉菱电汽车电控系统股份有限公司 关于本次交易相关主体买卖股票情况自查报告的公告 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。 武汉菱电汽车电控系统股份有限公司（以下简称"上市公司"、"公司"或 "菱电电控"）拟发行股份及支付现金购买北京兰之穹信息科技研究中心（有限 合伙）等27名交易对方合计持有的江苏奥易克斯汽车电子科技股份有限公司 根据《上市公司重大资产重组管理办法》《上市公司监管指引第7号——上 市公司重大资产重组相关股票异常交易监管》《公开发行证券的公司信息披露内 容与格式准则第26号——上市公司重大资产重组》《监管规则适用指引——上市 类第1号》等法律、法规的要求，公司对本次交易相关内幕信息知情人买卖股票 情况进行了核查，具体情况如下： 一、本次交易内幕信息知情人核查范围 本次自查范围包括： 二、本次交易内幕信息知情人自查期间 本次自查期间为上市公司首次披露本次重组事项或就本次重组申请股票停 牌（孰早）前六个月至重组报告书披露之前一日止，即20 ...

Group 1: eCall Product Development and Certification - The company began its eCall product development in 2013, accumulating extensive experience in project management and overseas certifications [2] - In 2019, the company obtained the first EU eCall certification in China and was among the first globally to receive the UN-R144 standard certification [2] - On June 1, 2025, the company received the next-generation NG eCall certification, becoming one of the first globally to achieve this [2] - The company has expanded its certification scope to include regions such as the UK, UAE, and Saudi Arabia, making it one of the few domestic companies with comprehensive certifications [2] Group 2: Technical Challenges and System Functionality - The technical barriers for eCall products include reliability and safety, requiring various tests such as collision, emergency call trigger, and data protocol standards [3] - The eCall system is designed for emergency rescue, automatically triggered by sensors detecting severe collisions, and transmits critical data to emergency services [4] - The system's importance is recognized globally, serving as a third safety barrier alongside seat belts and airbags [5] Group 3: Market Penetration and Regulatory Impact - Currently, there are no certified eCall products in China, resulting in a penetration rate of 0% [6] - With the implementation of the national standard AECS, the penetration rate for eCall products in China is expected to reach 100% [6] - The AECS standard has been released, but detailed implementation guidelines are still pending [7] Group 4: Competitive Advantage and Future Strategy - The company holds a first-mover advantage in the eCall sector, having been a key supplier for domestic brands and involved in drafting the national standard [7] - The company plans to leverage its extensive overseas certification experience to support the domestic rollout of AECS and provide competitive products to automakers [7] - The company collaborates with major automotive manufacturers, enhancing its market position [7] Group 5: Additional Products and Business Areas - The company’s core technology integrates automotive and ICT technologies, applied in smart vehicles, new energy batteries, and industrial IoT [9] - Its product offerings include various forms of IoT smart terminals and modules, designed to meet diverse customer needs through modular development [9] - The company also provides digital battery management solutions for the new energy sector, collaborating with clients like CATL [9]

Core Viewpoint - The company is focusing on its core businesses in aerospace applications, automotive electronics, and the Internet of Things (IoT), while optimizing its asset structure through the divestiture of AC Company to enhance resource utilization [1][4][6] Group 1: Aerospace Applications - The aerospace application segment includes inertial navigation accelerometers, precision manufacturing, testing and control equipment, and specialized power supplies, with a leading position in domestic aerospace applications [1] - The company's quartz flexible accelerometers have been successfully used in key national projects such as Shenzhou spacecraft and Tianzhou cargo spacecraft, solidifying its dominance in manned spaceflight engineering [1][3] Group 2: Automotive Electronics - The automotive electronics business is divided into domestic and international segments, focusing on commercial vehicles domestically and cabin sensors for safety, comfort, and autonomous driving internationally [2] - The company has developed a range of automotive electronic products, including vehicle instrumentation, remote information processors, and driving recorders, leveraging years of R&D experience [2] Group 3: Internet of Things (IoT) - The company has established the AIRIOT IoT platform, which is a low-code platform providing comprehensive IoT software solutions across various industries, including oil and gas, smart cities, and energy management [2] - The IoT platform aims to offer cost-effective and efficient services to clients and integrators, with successful applications in multiple industrial scenarios [2] Group 4: Strategic Divestiture - The company plans to publicly transfer 100% of AC Company’s shares, along with a minor stake in TIS factory, to optimize its asset structure and focus on core business areas [4][5] - The divestiture is part of the company's strategic planning to enhance high-quality development and improve resource utilization [4][6] Group 5: Future Outlook - The company aims to leverage its resources to capture market opportunities in aerospace applications, automotive electronics, and IoT, while maintaining stable operations in other business segments post-divestiture [6] - The revenue from the divested AC Company will no longer be included in the consolidated financial statements, which may lead to a decrease in overall revenue compared to the previous year [6]

Group 1 - The core viewpoint emphasizes the aggressive project attraction efforts in Yancheng National High-tech Zone during the summer, aiming to achieve significant progress in project construction and investment [1] - The high-tech zone focuses on three main industries: new generation information technology, high-end equipment, and new energy, while also targeting future industries such as third-generation semiconductors, advanced new materials, and artificial intelligence [2] - The zone is implementing a comprehensive recruitment strategy by establishing specialized parks and dedicated investment promotion offices to enhance project attraction and development [2] Group 2 - The Yancheng high-tech zone is accelerating project construction, with the source of the automotive electronics project reaching 80% completion and expected to be fully operational by mid-July [3] - Aiming to improve key performance indicators such as signing rates, commencement rates, completion rates, production rates, and efficiency, the zone has established a systematic project advancement mechanism [3] - Significant investments have been made in projects like Changying Precision's structural components and Yuhui Solar's first phase, injecting strong momentum into the park's development [3] Group 3 - The high-tech zone is enhancing enterprise development by providing precise services, addressing issues such as factory renovations, and facilitating communication between companies and relevant departments [4] - The zone encourages enterprises to invest in technological upgrades and capacity expansion, with a total planned investment of 2.5 billion in 18 identified companies [4] - The high-tech zone is committed to achieving its "double over half" goal, striving for high-quality development and significant industrial output growth [4]

证监会同意瑞立科密深市主板IPO注册申请 智通财经6月6日电，证监会同意广州瑞立科密汽车电子股份有限公司首次公开发行股票并在深市主板上 市的注册申请。 ...

Core Viewpoint - The A-share IPO market is undergoing a significant transformation, with a notable decrease in the number of IPO terminations and an increase in the total financing amount, reflecting a shift from "quantity expansion" to "quality priority" in capital markets [2][4][5]. Group 1: IPO Termination Trends - As of June 4, 2025, 64 IPOs have been terminated this year, a decline of over 60% compared to 186 in the same period of 2024, with 58 of these being voluntary withdrawals [4][5]. - Monthly termination data shows a downward trend from January to May 2025, with 27, 14, 10, 5, and 8 terminations respectively [4]. - The reduction in IPO terminations is attributed to structural optimization in the market and regulatory policies, leading to an overall improvement in the quality of remaining IPO candidates [4][5]. Group 2: IPO Financing Growth - In 2025, 45 IPO companies have raised a total of 33.209 billion yuan, marking a year-on-year increase of 15.38% and 20.80% [6]. - The financing amounts from various stock exchanges include 13.555 billion yuan from the Shanghai Main Board, 3.12 billion yuan from the Shenzhen Main Board, 3.681 billion yuan from the Sci-Tech Innovation Board, 11.065 billion yuan from the Growth Enterprise Market, and 1.788 billion yuan from the Beijing Stock Exchange, with respective changes of 28.95%, 6.9%, -55.84%, 26.87%, and -10.87% [6]. - Eight companies raised over 1 billion yuan in their IPOs, with Zhongce Rubber leading at 4.066 billion yuan [6]. Group 3: Regulatory Environment - The new "National Nine Articles" has significantly raised the review standards, leading many companies with inadequate conditions to withdraw their applications voluntarily [5][8]. - The regulatory body has intensified accountability for companies attempting to bypass standards, as seen in recent disciplinary actions against companies like Zhongding Hengsheng and Fanyuan Technology for various compliance issues [9]. - Companies are advised to establish a comprehensive compliance system to adapt to the increasingly stringent IPO regulations and market conditions [9].

Core Viewpoint - The company, Tianyouwei, specializes in the research, design, production, and sales of automotive instruments and is expanding into the smart cockpit sector, with a focus on enhancing its global market presence and product offerings [1][2]. Group 1: Business Overview - Tianyouwei primarily engages in the development and production of electronic combination instruments, full LCD combination instruments, dual-screen instruments, and other automotive electronic products and services [1]. - The company has established long-term partnerships with numerous well-known automotive manufacturers and parts suppliers, including Hyundai Motor Group, BYD, Changan Automobile, and others [1]. Group 2: Market Expansion - The company aims to increase its overseas revenue share from 47.06% in 2022 to 53.60% by 2024, indicating a strategic push for global market expansion [2]. - Tianyouwei is actively developing new products such as curved screen instruments and ultra-thin navigation screens, leveraging its relationships with major automotive manufacturers to enhance its product offerings [2][3]. Group 3: Technological Innovation - The company's core technology, composite screen technology, innovatively combines segment code screens with TFT color screens to achieve near full-color display effects, providing a cost-effective alternative to traditional TFT screens [3]. - This technology allows for customized instrument shapes while maintaining high display quality, thus broadening the product range available to customers [3]. Group 4: International Operations - Tianyouwei's subsidiary in Mexico has generated revenue of 370 million yuan since its establishment in 2022, with plans for a modern, automated factory projected to cost 55 million USD [4]. - The new facility is expected to enhance service capabilities in the Americas and Europe, reduce delivery times, and lower transportation costs, thereby strengthening the company's competitive edge in the global automotive electronics market [4].

Summary of Automotive Electronics Architecture Conference Call Industry Overview - The automotive electronics architecture is transitioning from domain controllers to regional computing platforms, integrating central computing platforms with varying degrees of integration, including chassis functions [1][2] - Communication methods are evolving from traditional CAN bus to Ethernet, with companies like Xiaopeng Motors supporting Ethernet communication, while Geely's BEI3.0 domain controller does not [1][3] Key Developments in Automotive Electronics - The distribution method in automotive electronics has shifted from traditional relay-based systems to lightweight ECU-based vehicle mode management, optimizing energy consumption and improving efficiency and reliability [1][4] - Manufacturers are reducing the use of traditional microcontrollers (MCUs); for instance, Lingpao Motors uses only 28 MCUs in its latest model, compared to the typical 40-50 in other vehicles [1][5] - Some features, such as seat heating and massage functions, are not integrated into the domain control unit (DCU) to accommodate different model configurations and reduce costs [1][6] - The integration of more functions into domain controllers allows manufacturers to simplify production processes and reduce costs, with the cost of Lynk & Co's 3.5 generation products decreasing by 30%-40% compared to the previous generation [1][8] Software-Defined Vehicles (SDV) - Software-defined vehicles (SDV) abstract vehicle capabilities and simplify update processes through service-oriented architecture (SOA), enhancing flexibility and efficiency [1][9] - SDV enables the implementation of personalized features, such as electric doors, by abstracting sensor and actuator capabilities [1][10] Changes in Electronic and Electrical Architecture - The current electronic and electrical architecture is characterized by a central plus regional controller structure and SOA, with potential future integration of cockpit, body, gateway, and connectivity modules [1][11] - Integration can potentially eliminate the need for traditional ECUs, significantly reducing hardware costs [1][12] Industry Trends and Challenges - Major companies in the industry are pursuing integration, though the degree of integration varies [1][13] - Traditional fuel vehicles are less likely to adopt advanced electronic architectures due to cost and feasibility concerns [1][14] - New architectures offer significant cost savings and maintenance advantages, enhancing competitiveness against foreign fuel vehicles [1][15][16] Chassis Control Systems - The trend in chassis control systems is towards integration, with many manufacturers moving towards a larger chassis domain controller [1][19] - Challenges in integrating chassis systems include meeting safety requirements, as the integration must satisfy higher safety standards [1][18] Cost Reduction and Market Position - The optimization of electronic architecture and reduction in ECU numbers have led to significant hardware cost reductions, contributing to lower vehicle prices while maintaining competitiveness [1][24] - Domestic companies have made notable progress in automotive electronics architecture, although they still rely on international suppliers for MCU chips [1][25] Domestic Chip Development - Domestic companies are beginning to explore the use of local chips in vehicle computing units, but high-end models remain hesitant due to performance concerns [1][26] - Current integrated structures in vehicle computing units are limited to physical integration rather than full functional integration due to insufficient chip capabilities [1][27] Future Prospects - The application of domestic chips in the automotive industry is gradually increasing, but significant gaps in performance compared to leading manufacturers like NVIDIA and Qualcomm remain [1][29]

Core Viewpoint - Jiangsu listed companies have actively announced share buybacks and increases in shareholding to stabilize the market amid global market turmoil caused by U.S. tariffs, showcasing the strength and responsibility of the "Jiangsu Legion" in the A-share market [1] Group 1: Market Stability and Company Actions - Nearly 30 listed companies in Jiangsu announced buyback and increase plans within two days, demonstrating a commitment to market stability [1] - Jiangsu's capital market has a solid foundation with over 700 listed companies, leading the nation in the number of companies on the Sci-Tech Innovation Board and the Beijing Stock Exchange [1][3] Group 2: Industry Development and Innovation - Jiangsu aims to cultivate "unicorns," "gazelles," and specialized "little giant" companies, focusing on high-end equipment, biomedicine, and integrated circuits to support regional economic development [2] - The manufacturing sector in Jiangsu is robust, with a high-quality development index ranking first nationally for four consecutive years, and the province leads in the number of national-level specialized "little giant" companies [3][4] Group 3: Future Growth and Strategic Goals - By the end of 2025, Jiangsu aims to have around 150 listed companies with a market value exceeding 10 billion yuan and 15 companies exceeding 100 billion yuan, with a total of over 250 billion yuan in mergers and acquisitions [8] - Jiangsu is focused on enhancing the core competitiveness of listed companies and promoting mergers and acquisitions to strengthen the modern industrial system [12][13] Group 4: Financial Support and Ecosystem - Jiangsu is building a comprehensive financial service system to support the entire lifecycle of technology-based enterprises, ensuring that innovative companies receive tailored financial solutions [10] - The province's financial institutions have seen a loan growth rate of 10.1%, significantly higher than the national average, indicating strong financial support for local businesses [10] Group 5: Regional Disparities and Development Initiatives - Jiangsu is addressing regional imbalances in company listings, with efforts to increase the number of listed companies in underrepresented areas [7] - The province has established a service mechanism for the precise cultivation of technology enterprises, ensuring a steady supply of high-quality companies to the capital market [4][12]