Summary of Key Points Core Viewpoint - The 2024 A-share CFO data report indicates that the total salary of CFOs in A-share listed companies reached 4.27 billion yuan, with an average annual salary of 814,800 yuan [1]. Industry Overview - The motorcycle industry, which includes 15 listed companies in A-share and New Third Board, reported a total CFO salary of 16.37 million yuan, with an average annual salary of approximately 1.09 million yuan [1]. - 隆鑫通用 (Longxin General) faced multiple regulatory penalties due to operational and governance issues, yet its CFO, 王建超 (Wang Jianchao), saw a salary increase of 61.7%, reaching 2.76 million yuan, making him the highest-paid CFO in the industry [1]. Salary Data by Company - 降蒸通用 (Jiangzheng General): CFO 王妃 (Wang Fei) earned 2.76 million yuan, a 61.7% increase, with a net profit of 1.12 billion yuan, growing by 92.2% [2]. - 爱玛科技 (Aima Technology): CFO 郑慧 (Zheng Hui) earned 2.37 million yuan, a 6.5% increase, with a net profit of 1.99 billion yuan, growing by 5.7% [2]. - 绿通科技 (Lvtong Technology): CFO 彭丽君 (Peng Lijun) earned 2.32 million yuan, a decrease of 6.7%, with a net profit of 142 million yuan, declining by 46.0% [2]. - 钱江摩托 (Qianjiang Motorcycle): CFO 江传敏 (Jiang Chuanmin) earned 1.38 million yuan, a 6.9% increase, with a net profit of 677 million yuan, growing by 45.8% [2]. - 春风动力 (Chunfeng Power): CFO 司维 (Si Wei) earned 1.21 million yuan, a 16.0% increase, with a net profit of 1.47 billion yuan, growing by 46.1% [2]. - 久祺股份 (Jiuqi Co., Ltd.): CFO 雍师 (Yong Shi) earned 715,100 yuan, a 30.9% increase, with a net profit of 123 million yuan, growing by 15.3% [2]. - 涛涛车业 (Taotao Vehicle): CFO 孙永 (Sun Yong) earned 633,400 yuan, a 35.9% increase, with a net profit of 43.1 million yuan, growing by 53.8% [2]. - 林海股份 (Linhai Co., Ltd.): CFO 李鹏鹏 (Li Pengpeng) earned 567,600 yuan, a 17.2% increase, with a net profit of 1.8 million yuan, growing by 38.4% [2]. - 信隆健康 (Xinlong Health): CFO 邮编长 (You Bianchang) earned 550,700 yuan, a decrease of 11.5%, with a net profit of -1.9 million yuan, declining by 187.2% [2]. - 新日股份 (Xinji Co., Ltd.): CFO 膏达 (Gao Da) earned 403,500 yuan, an increase of 48.6%, with a net profit of 2.6 million yuan, declining by 70.9% [2].

Core Insights - The report highlights the significant role of CFOs in listed companies, with the total salary of CFOs in A-share companies reaching 4.27 billion yuan, averaging 814,800 yuan per year [1] - In the motorcycle industry, the total salary for CFOs across 15 listed companies amounts to 16.37 million yuan, with an average salary of approximately 1.09 million yuan [1] Industry Summary - The motorcycle industry shows varied CFO salaries, with the highest being Wang Jianchao from Jiangsu Jianghuai, earning 2.76 million yuan, reflecting a 61.7% increase [2] - Aima Technology's CFO, Zheng Hui, has a salary of 2.37 million yuan, with a 6.5% increase, despite the company facing legal challenges [2] - Other notable CFO salaries include Peng Lijun from Lvtong Technology at 2.32 million yuan, experiencing a 6.7% decrease, and Jiang Chuanmin from Qianjiang Motorcycle at 1.38 million yuan, with a 6.9% increase [2]

Market Overview - On August 8, the motorcycle and other sectors rose by 1.09%, led by Taotao Industry [1] - The Shanghai Composite Index closed at 3635.13, down 0.12%, while the Shenzhen Component Index closed at 11128.67, down 0.26% [1] Stock Performance - Taotao Industry (301345) closed at 168.62 with a gain of 6.13% and a trading volume of 35,800 shares, amounting to a transaction value of 597 million [1] - Chuncheng Power (603129) closed at 254.83, up 4.53%, with a trading volume of 20,500 shares [1] - Longxin General (603766) saw a 2.92% increase, closing at 13.40 with a trading volume of 377,600 shares [1] - Other notable performers include Qianli Technology (601777) with a 1.43% increase and a closing price of 9.22, and Linhai Co. (6600099) with a 1.10% increase [1] Fund Flow Analysis - The motorcycle and other sectors experienced a net outflow of 126 million from main funds, while retail investors saw a net inflow of 86.52 million [2] - The main funds' net inflow for Xilong Health (002105) was 16.87 million, while Shanghai Phoenix (600679) had a net inflow of 15.82 million [3] - Conversely, significant net outflows were observed in Zhonglu Co. (600818) with -5.12 million and Spring Power (603129) with -7.18 million [3]

Summary of Key Points Core Viewpoint - The 2024 A-share Secretary Data Report indicates that the total salary of secretaries in A-share listed companies reached 4.086 billion yuan, with an average annual salary of 754,300 yuan, highlighting the significant role of secretaries in connecting investors and listed companies [1]. Industry Overview - In the motorcycle industry (Shenwan secondary), 17 listed companies were included in the report, with a total secretary salary of 18.5889 million yuan and an average annual salary of 1.0935 million yuan [1]. Company-Specific Insights - Qianli Technology reported a non-recurring net profit of -68 million yuan for 2024, marking two consecutive years of losses, yet the company's secretary, Wu Dingjun, received a salary increase of 24.52%, reaching 783,200 yuan, ranking seventh in the industry [1]. Salary Changes and Rankings - Notable salary changes among motorcycle industry secretaries include: - Xu Peng from Ninebot Company received 4.5804 million yuan, a 137.83% increase [2]. - Ye Kejia from Longxin General received 2.6367 million yuan, an 8.23% increase [2]. - Wang Chunyan from Aima Technology received 1.5478 million yuan, a 2.31% increase [2]. - Wu Dingjun from Qianli Technology received 783,200 yuan, a 24.52% increase [2].

责任编辑：公司观察 专题：专题|2024年度A股董秘数据报告：1144位董秘年薪超百万 占比超21% 董秘作为连接投资者与上市公司的"桥梁"，在上市公司资本运作中发挥着关键作用。新浪财经《2024年度A股董秘数据报告》显示，2024年A股上市公司董 秘薪酬合计达40.86亿元，平均年薪75.43万元。 分行业来看，A股和新三板摩托车行业（申万二级）进入统计的上市公司共17家，董秘薪酬合计金额1858.89万元，平均年薪109.35万元。 行业内，隆鑫通用2024年因公司运作、治理违规等问题，被监管层多次处罚，而董秘叶珂伽年内仍涨薪20万，以263.67万元年薪位居业内第二。 | 证券简称 | 行业(申万二级) | 董秘 | 2024薪酬 | 薪酬变化 | 増減幅 | 学历 | | --- | --- | --- | --- | --- | --- | --- | | 九号公司-WD | 摩托车及其他 | 徐鹏 | 458. 04 | 265. 45 | 137.83% | 本科 | | 隆鑫通用 | 摩托车及其他 | 叶珂伽 | 263. 67 | 20. 05 | 8.23% | 本科 | | 爱玛科技 | ...

专题：专题|2024年度A股董秘数据报告：1144位董秘年薪超百万 占比超21% 董秘作为连接投资者与上市公司的"桥梁"，在上市公司资本运作中发挥着关键作用。新浪财经《2024年度A股董秘数据报告》显示，2024年A股上市公司董 秘薪酬合计达40.86亿元，平均年薪75.43万元。 分行业来看，A股和新三板摩托车行业（申万二级）进入统计的上市公司共17家，董秘薪酬合计金额1858.89万元，平均年薪109.35万元。 行业内，九号公司董秘徐鹏以458.04万元高居榜首，当年徐鹏涨薪265.45万元，涨幅达137.83%，涨薪幅度也位居业内第一。 | 证券简称 | 行业(申万二级) | 董秘 | 2024新郎 | 薪酬变化 | 増減幅 | 学历 | | --- | --- | --- | --- | --- | --- | --- | | 九号公司-WD | 摩托车及其他 | 徐鹏 | 458. 04 | 265. 45 | 137. 83% | 本科 | | 隆鑫通用 | 摩托车及其他 | 叶珂伽 | 263. 67 | 20. 05 | 8.23% | 本科 | | 爱玛科技 | 摩托车及其他 | 王春彦 ...

专题：专题|2024年度A股董秘数据报告：1144位董秘年薪超百万 占比超21% 责任编辑：公司观察 | 证券简称 | 行业(申万二级) | 董秘 | 2024薪酬 | 薪酬变化 | 增減幅 | 学历 | | --- | --- | --- | --- | --- | --- | --- | | 九号公司-WD | 摩托车及其他 | 徐鹏 | 458. 04 | 265. 45 | 137.83% | 本科 | | 隆鑫通用 | 摩托车及其他 | 叶珂伽 | 263.67 | 20. 05 | 8.23% | 本科 | | 爱玛科技 | 摩托车及其他 | 壬春彦 | 154. 78 | 3. 49 | 2. 31% | 博士 | | 华洋赛车 | 摩托车及其他 | 任宇 | 100. 64 | -5.14 | -5.11% | 专科 | | 钱江摩托 | 摩托车及其他 | 王海斌 | 92. 24 | 12. 45 | 15.60% | 本科 | | 春风动力 | 摩托车及其他 | 周雄秀 | 88. 54 | 20. 77 | 30. 65% | 本科 | | 千里科技 | 摩托车及其他 | 伍定军 | 7 ...

评级调高方面，8月4日，券商调高上市公司评级达到1家次，最新数据包括了华创证券对九号公司的评 级从"推荐"调高至"强推"。 | | | | 1家最新被调高评级的公司 | | | | --- | --- | --- | --- | --- | --- | | 证券代码 | 证券名称 | 机构 | 此前评级 | 最新评级 | 行业 | | 689009 | 九号公司 | 华创证券 | 推荐 | 强推 | 摩托车及其他 | | | | | 日期: 08月04日,南财投研通×南财快讯制图 | | | 首次覆盖方面，8月4日券商共给出了12次首次覆盖，其中创业环保（600874）获得华源证券给予"买 入"评级，山东威达（002026）获得华安证券（600909）给予"买入"评级，正裕工业（603089）获得东 北证券给予"买入"评级，铁大科技获得东吴证券给予"买入"评级，耐普矿机（300818）获得国海证券给 予"买入"评级。 | | | 12家最新被首次覆盖的公司 | | | | --- | --- | --- | --- | --- | | 证券代码 | 证券名称 | 机构 | 最新评级 | 行业 | | 6008 ...

Investment Rating - The report maintains a "Buy" rating for the company [3][6]. Core Views - The company has demonstrated strong performance in its two-wheeler business, with significant revenue growth and profitability in the first half of 2025 [1][2]. - The expansion of the product matrix, including self-balancing scooters and all-terrain vehicles, contributes to the company's growth trajectory [2]. - Future profit forecasts indicate continued growth, driven by the two-wheeler segment and the rollout of robotics [3]. Financial Performance Summary - In H1 2025, the company achieved total revenue of 11.74 billion yuan, a year-on-year increase of 76.1%, and a net profit attributable to shareholders of 1.24 billion yuan, up 108.45% [1]. - Q2 2025 revenue reached 6.63 billion yuan, reflecting a 61.5% increase year-on-year, with a net profit of 790 million yuan, up 70.8% [1]. - The electric two-wheeler segment generated revenue of 3.96 billion yuan in Q2 2025, a year-on-year increase of 80.6%, with sales of 1.3887 million units, up 77.3% [1]. - The gross margin for the two-wheeler segment in H1 2025 was 23.7%, an increase of 1.4 percentage points year-on-year [1]. Product Expansion Summary - The self-balancing scooter segment generated revenue of 929 million yuan in Q2 2025, a year-on-year increase of 27.6%, with sales of 383,800 units, up 4.7% [2]. - The all-terrain vehicle segment achieved revenue of 323 million yuan in Q2 2025, a year-on-year increase of 10.6%, with sales of 8,000 units, up 21% [2]. - The company has introduced multiple new products, enhancing its product matrix [2]. Profitability Metrics - The company's gross margin in Q2 2025 was 30.9%, an increase of 0.5 percentage points year-on-year [2]. - The net profit margin for Q2 2025 was 12%, reflecting a year-on-year increase of 0.79 percentage points [2]. - The company’s operating expenses as a percentage of revenue showed a decrease in sales and management expenses, while R&D expenses increased slightly [2]. Future Profit Forecast - The company is projected to achieve net profits of 1.85 billion yuan, 2.73 billion yuan, and 3.64 billion yuan for the years 2025, 2026, and 2027, respectively, with year-on-year growth rates of 70.7%, 47.3%, and 33.6% [3].

Market Overview - On August 4, the motorcycle and other sectors rose by 1.76%, with Yong'an Xing leading the gains [1] - The Shanghai Composite Index closed at 3583.31, up 0.66%, while the Shenzhen Component Index closed at 11041.56, up 0.46% [1] Stock Performance - Yong'an Xing (603776) closed at 21.86, with a gain of 4.79% and a trading volume of 167,600 shares, amounting to 366 million yuan [1] - Ninebot (60006899) closed at 60.98, up 3.99%, with a trading volume of 268,500 shares, totaling 1.657 billion yuan [1] - Zhenghe Industrial (003033) closed at 45.73, gaining 3.27%, with a trading volume of 38,800 shares, amounting to 177 million yuan [1] - Other notable performers include Chunfeng Power (603129) at 225.00 (+2.69%), Linhai Co. (6600009) at 11.42 (+2.24%), and Lvtong Technology (301322) at 31.30 (+2.09%) [1] Capital Flow - The motorcycle and other sectors saw a net inflow of 60.7047 million yuan from main funds, while retail investors experienced a net outflow of 98.5256 million yuan [2] - The main funds' net inflow for Yong'an Xing was 14.4972 million yuan, while retail investors had a net outflow of 13.1028 million yuan [3] - Ninebot experienced a significant net outflow from main funds of 67.5370 million yuan, indicating a shift in investor sentiment [3]