5月10日，国家统计局公布最新数据显示，4月份，居民消费价格指数（CPI）环比由上月下降0.4%转为上 涨0.1%，同比下降0.1%，降幅与上月相同。核心CPI环比由平转涨，上涨0.2%；同比上涨0.5%，涨幅保持 稳定。工业生产者出厂价格指数（PPI）环比下降0.4%，降幅与上月相同，同比下降2.7%，降幅比上月扩 大0.2个百分点。 P PI 环比下降 0.4% ，降幅与上月相同。 影响本月 PPI 下降的主要原因： 一是国际输入性因素影响国内相 关行业价格下行。 国际贸易环境变化，部分国际大宗商品价格迅速下行，影响国内相关行业价格下降。 其中，国际原油价格下行影响国内石油相关行业价格环比下降，石油和天然气开采业价格下降 3.1% ，精 炼石油产品制造价格下降 2.5% ，化学原料和化学制品制造业价格下降 0.6% ； 国际铝、锌和铜等有色金 属价格下行影响国内铝冶炼、锌冶炼和铜冶炼价格分别下降 2.4% 、 1.6% 和 0.8% 。 部分出口行业价格环 比下降，汽车制造业价格下降 0.5% ，计算机通信和其他电子设备制造业、家具制造业、金属制品业价格 均下降 0.2% 。 上述 10 个行业合计影响 ...

Group 1 - The core viewpoint of the news is that SAIC-GM-Wuling Automobile Co., Ltd. has applied for a patent related to a method for predicting the range of electric vehicles, which aims to enhance the accuracy of range predictions and improve energy management [1] - The patent application, published as CN119928581A, was filed on January 2025 and focuses on a method that utilizes historical vehicle driving data to predict energy consumption and range [1] - The method involves segmenting historical driving data into micro-segments and employing a Markov Monte Carlo model for predictions, allowing for real-time adaptation to changing driving conditions [1] Group 2 - SAIC-GM-Wuling Automobile Co., Ltd. was established in 1998 and is located in Liuzhou, primarily engaged in the automotive manufacturing industry [2] - The company has a registered capital of 1,668,076,667 RMB and has participated in 1,325 bidding projects [2] - The company holds 5,000 patent records and has 2,661 trademark information entries, along with 721 administrative licenses [2]

Group 1 - The company Anhui Jianghuai Automobile Group Co., Ltd. has applied for a patent for a method of insulation function detection for pure electric light trucks, indicating its focus on innovation in electric vehicle technology [1] - The patent application was published under the number CN119936538A, with an application date of February 2025, showcasing the company's ongoing research and development efforts [1] - The described method involves a series of commands sent from an external device to the battery management system to ensure the proper functioning of high-voltage circuits and insulation detection, highlighting the technical sophistication of the company's products [1] Group 2 - Anhui Jianghuai Automobile Group Co., Ltd. was established in 1999 and is primarily engaged in the automotive manufacturing industry, indicating its long-standing presence in the market [2] - The company has a registered capital of approximately 21.84 billion RMB, reflecting its substantial financial foundation [2] - The company has invested in 46 enterprises and participated in 5,000 bidding projects, demonstrating its active role in the industry and potential for growth [2]

企业名称江苏豪驰汽车科技有限公司法定代表人余起海注册资本1000万人民币国标行业制造业>汽车制 造业>汽车整车制造地址盐城经济技术开发区东环路69号1幢108室企业类型有限责任公司（非自然人投 资或控股的法人独资）营业期限2025-5-9至无固定期限登记机关盐城经济技术开发区行政审批局 来源：金融界 经营范围含许可项目：第三类医疗器械经营；特种设备制造；道路机动车辆生产（依法须经批准的项 目，经相关部门批准后方可开展经营活动，具体经营项目以审批结果为准）技术服务、技术开发、技术 咨询、技术交流、技术转让、技术推广；汽车销售；汽车零配件批发；汽车零配件零售；汽车零部件及 配件制造；新能源汽车整车销售；新能源汽车电附件销售；电池销售；汽车零部件研发；电池零配件销 售；技术推广服务；人工智能公共服务平台技术咨询服务；第二类医疗器械销售；人工智能应用软件开 发；物联网技术服务；物联网技术研发；第一类医疗器械销售；租赁服务（不含许可类租赁服务）；技 术进出口；制冷、空调设备制造；制冷、空调设备销售；网络设备制造（除依法须经批准的项目外，凭 营业执照依法自主开展经营活动） 天眼查App显示，近日，江苏豪驰汽车科技有限公司 ...

经营范围含许可项目：道路机动车辆生产（依法须经批准的项目，经相关部门批准后方可开展经营活 动，具体经营项目以审批结果为准）汽车零部件及配件制造；汽车零部件再制造；汽车装饰用品制造； 智能车载设备制造；机械电气设备制造；皮革制品制造；电池零配件生产；工程和技术研究和试验发 展；人工智能行业应用系统集成服务；信息系统集成服务；软件开发；人工智能基础软件开发；专业设 计服务；技术服务、技术开发、技术咨询、技术交流、技术转让、技术推广；新能源汽车整车销售；新 能源汽车电附件销售；新能源汽车换电设施销售；汽车零配件批发；机动车充电销售；电车销售；汽车 装饰用品销售；新能源汽车生产测试设备销售；新能源原动设备销售；试验机销售；非公路休闲车及零 配件销售；电池销售；摩托车及零配件批发；音响设备销售；电动汽车充电基础设施运营；社会经济咨 询服务；小微型客车租赁经营服务；机动车修理和维护；汽车拖车、求援、清障服务；货物进出口；技 术进出口；进出口代理（除依法须经批准的项目外，凭营业执照依法自主开展经营活动） 天眼查App显示，近日，江苏骐骥汽车制造有限公司成立，法定代表人为黎本良，注册资本1000万人民 币，由浙江骐骥新能源汽 ...

好的一面是，在营收承压的情况下，多家车企在一季度实现了利润增长或减亏，如上汽集团（600104）、长安汽车（000625）、赛力斯（601127）均实 现利润增长。这背后，是这几家车企调整销售结构、推动高端化产品发展进而推进利润率提升的结果。 | 营收排名 | 车企 | 营收(亿元) | 同比 | 归母净利润 | 同席 | 李度常量 | 同比 | | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | (亿元) | | (万辆) | | | 1 | 比亚迪 | 1703.6 | 36.4% | 91.6 | 100.4% | 100 | 59.8% | | 2 | 上汽集团 | 1408.6 | -1.6% | 30.2 | 11.4% | 94.5 | 13.3% | | 3 | 长城汽车 | 400.2 | -6.6% | 17.5 | -45.6% | 25.7 | -6.7% | | 4 | 长安汽车 | 341.6 | -7.7% | 13.6 | 16.8% | 70.5 | 1.9% | | 5 | 广汽集团 | 196.5 | - ...

Core Viewpoint - The company, Seres, has submitted its IPO application to the Hong Kong Stock Exchange, marking a significant step towards becoming a major player in the automotive industry with an "A+H" stock structure [2][5]. Financial Performance - In 2024, Seres achieved profitability, becoming the fourth global electric vehicle company to do so, with revenue soaring from RMB 358 billion in 2023 to RMB 1,451 billion in 2024, a year-on-year increase of 305.5% [5]. - The gross margin improved from 7.2% in 2023 to 23.8% in 2024, reflecting a 16.6 percentage point increase, indicating strong sustainable development potential [5]. Sales and Market Position - Seres experienced explosive sales growth in 2024, with total vehicle sales nearing 500,000 units, and its flagship brand, AITO, delivering 387,100 units, a 268% year-on-year increase [7]. - The AITO M5 set a record for the fastest delivery of over 10,000 units for a new brand in its first year, while the M7 and M9 became bestsellers in their respective price segments [7][8]. Strategic Partnerships and Support - Seres benefits from strategic support from state-owned enterprises, with Dongfeng Group holding a 20% stake and providing various resources, including financial services and logistics support [9][10]. - The acquisition of Longsheng New Energy for RMB 8.164 billion, backed by state-owned assets, further solidifies Seres' position and operational capabilities [10][11]. Research and Development - The company is investing heavily in self-research, having spent nearly RMB 10 billion on the development of its modular platform, which supports multiple powertrain types [21][23]. - Seres aims to transition from relying on Huawei's technology to developing its own innovations to enhance brand value and consumer loyalty [23]. Market Challenges - Despite strong sales, Seres faces challenges, including a high asset-liability ratio of 87% and a declining sales trend in early 2025, with January sales down 51.39% year-on-year [17][19]. - The company relies heavily on the domestic market, with 97% of its revenue coming from China, which poses risks as competition intensifies [19]. Future Outlook - Seres plans to explore international markets and establish strategic alliances to enhance its global presence, particularly in Europe [23]. - The company is also preparing for potential challenges related to compliance and management costs associated with its dual listing strategy [25].

Core Viewpoint - The credit rating agency maintains the AAA rating for Great Wall Motors Co., Ltd. with a stable outlook, reflecting the company's strong market position and financial performance despite challenges in new model launches and international operations [3][30]. Financial Overview - Total assets are projected to grow from 185.36 billion in 2022 to 217.27 billion in 2024, while total liabilities are expected to increase from 120.14 billion to 138.27 billion in the same period [5][25]. - The company reported a net profit of 8.25 billion in 2022, which is expected to rise to 12.69 billion by 2024, indicating a significant improvement in profitability [5][25]. - Operating revenue is forecasted to increase from 137.34 billion in 2022 to 202.20 billion in 2024, reflecting a positive trend in sales performance [5][25]. Market Position - Great Wall Motors holds a leading position in the pickup and SUV markets, with a strong focus on R&D to enhance product competitiveness [6][13]. - The company has successfully expanded its export business, with export sales increasing by 55.57% from 2023 to 2024, contributing significantly to overall sales growth [15][12]. - The company has launched several new models, including the Tank 500 and the new generation Haval H6, which are expected to strengthen its market presence [12][14]. Risks and Challenges - Some newly launched models are still in the production ramp-up phase, leading to underutilized sales potential [4][6]. - The company faces increased geopolitical risks and trade barriers in its international operations, which could impact overall performance [6][18]. - The competitive landscape in the Chinese automotive market remains intense, particularly in the high-end SUV and MPV segments, where the company needs to improve its market share [18][6]. Strategic Initiatives - The company is focusing on enhancing its R&D capabilities, with a reported investment of 10.446 billion in 2024, aimed at advancing technologies in hybrid, electric, and intelligent driving [17][28]. - Great Wall Motors is expanding its product lineup to include motorcycles, which diversifies its offerings and targets new market segments [12][10]. - The company is implementing a "forest ecosystem" strategy to drive technological innovation and improve product competitiveness [17][28]. Credit Rating and Outlook - The credit rating agency has affirmed the AAA rating for Great Wall Motors and its convertible bonds, indicating strong creditworthiness and stable financial health [3][30]. - The stable outlook reflects the company's robust operational performance and ability to navigate market challenges effectively [4][30].

Group 1 - The core point of the report is the issuance of A-share convertible bonds by Great Wall Motor Company, with a total face value of RMB 3.5 billion approved for public offering [2][18][23] - The bonds were issued on June 10, 2021, with a maturity period of 6 years, and the actual funds raised amounted to RMB 3,490 million after deducting issuance costs [2][23] - The bonds are named "Changqi Convertible Bonds" with a code of "113049" and were approved for trading on the Shanghai Stock Exchange starting July 8, 2021 [3][4] Group 2 - The bond has a tiered interest rate structure, starting at 0.2% in the first year and increasing to 2.0% in the sixth year [4][5] - The initial conversion price for the bonds is set at RMB 38.39 per share, with provisions for adjustments based on various corporate actions [6][8] - The bondholders have the right to convert their bonds into shares during the conversion period from December 17, 2021, to June 9, 2027 [5][6] Group 3 - The funds raised from the bond issuance are intended for new model development projects, with a total investment of RMB 630,970.81 million allocated from the bond proceeds [18] - The company has established a special account for the management of the raised funds, which has been verified by Deloitte Huayong [23][24] - As of December 31, 2023, the company has utilized the raised funds in accordance with the specified purposes, totaling RMB 3,592,595,657.45 [23][24] Group 4 - The company maintains a credit rating of AAA for both its corporate entity and the convertible bonds, with a stable outlook as confirmed by China Chengxin International Credit Rating Co., Ltd. [19][27] - The bond does not provide any guarantees, as the company's net assets exceed RMB 1.5 billion, exempting it from the requirement [25] - The bondholders have specific rights, including interest payments, conversion rights, and the ability to attend bondholder meetings [15][16]

二、本次股东大会以现场加网络的形式召开，会议表决采用现场投票加网络 投票相结合的方式，其中现场表决采取记名方式。 三、股东参加股东大会现场会议依法享有发言权、质询权和表决权等权利， 同时也必须履行法定义务，不得扰乱会议秩序和侵犯其他股东合法权益。 湖南天雁机械股份有限公司 2024 年年度股东大会会议资料 证券代码：600698（A 股） 证券简称：湖南天雁（A 股） 湖南天雁机械股份有限公司 二〇二五年五月 湖南天雁机械股份有限公司 2024 年年度股东大会会议资料 会议须知 为了维护全体股东的合法权益，确保股东大会的正常秩序和议事效率，根据 《中华人民共和国公司法》、《上市公司股东大会规则》、《湖南天雁机械股份有限 公司章程》、《股东大会议事规则》等有关规定，特制定本须知。 一、本公司设立大会会务组，具体负责大会有关程序方面的办理。 四、股东要求大会发言，请于会前十五分钟向大会会务组报名，出示持股有 效证明，填写"发言登记表"。在会议召开过程中，股东临时要求发言应提前向大 会会务组报名，并填写"发言登记表"，经大会主持人许可后，予以发言。 五、股东发言应围绕本次会议议题，简明扼要，时间不超过五分钟，大会安 ...