证券代码：002715 证券简称：登云股份 公告编 号：2025-051 怀集登云汽配股份有限公司 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚 假记载、误导性陈述或者重大遗漏。 | 股东 | 股东或第一 | | 本次冻结股 | | | | | 限售股 | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | 持股份 | | 总股本 | | | 起始日 | | | 到期日 | 冻 | | 结申请人 | | 原因 | | | | | | | | | | | | 名称 | 大股东及其 | | 份数量（股） | | | | | 及限售 | | | | | | | | | 比例 | | 比例 | | | | | | | | | | 一致行动人 | | | | | | 类型 | | | | 北京市第一 | | | 益科 | | | | | | | 2025 | 年 | 8 | 2028 | 年 7 | | | | 是 | 185,227 | | 0.57% | 0 ...

Core Viewpoint - Shanghai Automotive Parts (603107.SH) announced that shareholders Glory and Dizhi Kai are acting in concert, collectively holding 15.0035% of the company's shares. They plan to reduce their holdings by up to 1.75% through block trades and centralized bidding from August 20, 2025, to November 19, 2025, due to personal funding needs [1] Summary by Relevant Categories Shareholder Actions - Glory plans to reduce its holdings by up to 1.01% of the shares [1] - Dizhi Kai plans to reduce its holdings by up to 0.74% of the shares [1] Timeline - The reduction period is set from August 20, 2025, to November 19, 2025 [1] Reason for Reduction - The reason for the share reduction is stated as personal funding needs [1]

Core Insights - The current international trade environment is complex, presenting a golden opportunity for Chinese auto parts companies to expand globally, particularly in Europe [1] - The European automotive aftermarket is projected to reach hundreds of billions of euros in online sales by 2024, with an annual growth rate exceeding 15% [1] - The demand for auto parts is optimistic due to the characteristics of the industry and the continuous penetration of cross-border e-commerce [1] Group 1: Market Trends - Over 500 auto parts sellers, manufacturers, and cross-border e-commerce partners gathered in Guangzhou to explore new market opportunities in Europe [1] - eBay's China cross-border trade division highlighted that China is the only country capable of exporting a full range of auto parts for "global models," surpassing even Germany in manufacturing diversity [1] - The demand for core auto parts such as exterior components, chassis parts, and engine systems remains strong, with significant sales growth observed in specific categories [1] Group 2: Company Strategies - eBay is witnessing a trend where more manufacturers are entering the market, while traditional traders are moving towards the manufacturing side, enhancing supply chain efficiency [2] - eBay plans to offer customized training for expanding into the European market, covering aspects from product selection to logistics [2] - Companies in the Greater Bay Area benefit from advantageous geographical positioning, low transportation costs, and high product value, contributing to their confidence in maintaining growth despite tariff impacts [2]

Group 1 - The nominee, Luo Le, has been proposed as an independent director candidate for the 6th Board of Directors of Huizhou Deyun Auto Parts Co., Ltd. by Beijing Yike Ruihai Mining Co., Ltd. [1] - The nomination was made after a thorough understanding of the nominee's professional background, education, qualifications, work experience, and any significant dishonesty records [1] - The nominee has agreed in writing to serve as an independent director candidate [1] Group 2 - The nominee has passed the qualification review by the nomination committee of the 6th Board of Directors and has no conflicts of interest that could affect independent performance [1] - The nominee meets the qualifications and conditions for independent directors as stipulated by the China Securities Regulatory Commission and Shenzhen Stock Exchange [1][2] - The nominee has participated in training and obtained relevant certification recognized by the stock exchange [3] Group 3 - The nominee does not violate any laws or regulations that prohibit them from serving as a director [3][4] - The nominee possesses basic knowledge related to the operation of listed companies and has over five years of relevant work experience [5] - The nominee and their immediate family members do not hold positions in the company or its subsidiaries [6] Group 4 - The nominee is not a major shareholder or a member of the top ten shareholders of the company [6][7] - The nominee has not been subject to any disqualifications or penalties by the regulatory authorities [8] - The nominator guarantees the truthfulness and completeness of the statements made regarding the nominee [8]

Group 1 - The core viewpoint of the articles highlights the successful hosting of the Dingjie Smart 2025 Digital Future Summit, which gathered nearly 1,000 participants to discuss the acceleration of AI in driving business scenarios and productivity innovation [1] - The company is leveraging its multi-modal large model and Agent development platform to empower enterprises and ISV partners to quickly build AI Agent applications, integrating capabilities from various general large models [2] - Dingjie Smart has established a collaborative initiative with Wuhan City and Huazhong University of Science and Technology to promote the integration of the digital economy industry [2] Group 2 - The chip manufacturing industry is seeing strengthened advantages, with successful implementations in automotive parts and other sectors, showcasing replicable benchmark cases across various industries [3] - Dingjie Smart has deepened cooperation with semiconductor packaging company Zhongke Zhixin, implementing a series of digital solutions, and has also introduced its PLM system to IC design company Jichuang Beifang [3] - The company serves over 600 industry clients, with 37% being top IC design firms, indicating a growing accumulation of client and solution advantages in the semiconductor sector [3] Group 3 - Dingjie Smart is actively expanding its presence in the Chinese market while also extending into broader overseas markets, focusing on integrated solutions for enterprises [4] - The company has achieved over 90% localization in its Southeast Asia teams, enhancing its local talent pool in Thailand, Vietnam, and Malaysia [4] - Revenue projections for 2025-2027 are estimated at 2.669 billion, 3.067 billion, and 3.465 billion yuan, with corresponding net profit forecasts of 202 million, 269 million, and 336 million yuan, reflecting significant growth rates [4]

Group 1 - The project construction in Jiepaizhen, Danyang City is progressing rapidly, with 13 key projects focused on the automotive parts industry, including 2 ongoing projects, 8 new projects, and 3 industrial upgrades [1] - Jiangsu Gaobiao Cultural Development Co., Ltd. is expanding its production capacity with a new factory that will release an annual capacity of 6 million injection molded parts and 200,000 spray-painted parts, significantly increasing order space [1] - The new factory of Gaobiao is designed to enhance customer interaction, allowing clients to confirm modification plans online, with logistics delivering required parts to local stores for installation [2] Group 2 - Jiangsu Lingsheng Automotive Parts Technology Co., Ltd. has initiated a new project with a total investment of 300 million yuan, aiming for an annual production of 300,000 automotive headlight steering regulators, with a projected annual sales of 300 million yuan upon completion [3] - Danyang Hengshuo Packaging Co., Ltd. is also progressing with a project for 300,000 smart vehicle-mounted devices, supported by the local government's efficient service mechanisms [3] - The Jiepaizhen government has implemented a "whistle-blowing" service mechanism to streamline project approvals, reducing the time to obtain construction permits to within 30 working days [3]

Transaction Overview - Guangdong Disenli Auto Parts Co., Ltd. approved a proposal to acquire shares of a New Third Board company and transfer shares of its subsidiary on March 31, 2025, and the proposal was ratified at a shareholders' meeting on April 16, 2025 [1] - New Farmer Agricultural Technology Group Co., Ltd. will issue shares to acquire 76.80% of the equity of Guangdong Disenli Green Food Co., Ltd. for a transaction price of RMB 96,346,193.70, with an issue price of RMB 2.85 per share, resulting in the issuance of 33,805,682 shares [1][2] - Following the transaction, the Green Food Company will no longer be a subsidiary of Disenli and will become a subsidiary of New Farmer, with Disenli holding 20.20% of New Farmer's shares [1] Audit Report Overview - An extended audit report was conducted by Rongcheng Accounting Firm as the financial data of New Farmer had expired, with March 31, 2025, as the audit base date [1] - The transaction price and the number of shares issued by New Farmer remain unchanged after the extended audit report [2] Board Meeting and Approval Process - The board of directors held a meeting on June 16, 2025, to approve the extended audit report, confirming that the transaction price had not changed and did not require further shareholder approval [3] Financial Information - The financial data of the Green Food Company and New Farmer for specific dates have been audited, with the latest data for New Farmer as of March 31, 2025, being unaudited [4][5] Progress of the Transaction - As of the announcement date, the transaction has received necessary approvals from the boards and shareholders of Disenli, New Farmer, and the Green Food Company [4] - The transaction is subject to further approval from New Farmer's shareholders and the review by the National Equities Exchange and Quotations [5] Impact of the Extended Audit Report - The extended audit report does not significantly impact the company, as the transaction price and share issuance remain unchanged [5]

Group 1: Financial Support for Private Enterprises - Zhejiang is a major province for private economy, with financial support playing a crucial role in its development [1] - The Zhejiang Financial Regulatory Bureau emphasizes innovative and differentiated regulatory policies to enhance financial services for private enterprises [1] - As of the end of Q1, the loan balance for private enterprises in Zhejiang reached 10.8 trillion yuan, a year-on-year increase of 7.72% [1] Group 2: Innovative Financial Products - The Industrial and Commercial Bank of China (ICBC) in Wenzhou launched the "New Generation Business Quick Loan," allowing small businesses to obtain credit loans based solely on tax data [2] - ICBC Wenzhou has issued over 70 billion yuan in credit loans to more than 10,000 clients, ranking first in the province [2] - The "Assist Business Combination Loan" product combines features of consumer and business loans to meet diverse funding needs of individual businesses [4] Group 3: Local Banking Initiatives - Wenzhou Minsheng Bank, the first private bank in China, focuses on serving private enterprises and has developed tailored financial products to meet their needs [6][8] - The bank has introduced products like "Manufacturing Heartfelt Loan" and "Manufacturing Credit Loan" to address the financing characteristics of private enterprises [8] - By the end of May, Wenzhou Minsheng Bank's loan balance for private enterprises reached 20.8 billion yuan, serving 8,805 clients [8] Group 4: Case Studies of Financial Support - A technology company in Wenzhou received a 7 million yuan manufacturing credit loan from Wenzhou Minsheng Bank to address urgent funding needs for raw material procurement [9] - A one-stop procurement platform for auto parts, with 193 registered companies, received comprehensive financial services from Wenzhou Minsheng Bank to support its diverse financing needs [10] - The construction of a lithium battery new materials industrial base in Wenzhou, with an investment of nearly 6 billion yuan, was supported by a customized financing plan from Industrial Bank [11] Group 5: Commitment to Green Financing - Industrial Bank's Wenzhou branch has provided a green financing solution of 2.36 billion yuan to support a company's capacity expansion, emphasizing sustainable development [11] - The bank has also introduced a carbon footprint-linked loan product to incentivize companies to reduce carbon emissions through lower interest rates [12] - The loan balance for private enterprises at Industrial Bank's Wenzhou branch exceeded 16 billion yuan, with a growth rate of over 30% in three years [12]

Core Insights - The China Council for the Promotion of International Trade (CCPIT) has successfully facilitated over $3 billion in cooperation agreements between China and Latin American countries this year [1] Group 1: Economic Cooperation - CCPIT has organized domestic business delegations to visit Brazil, Chile, Cuba, and other Latin American countries, resulting in the signing of cooperation agreements [1] - A total of 117 exhibition projects have been approved for Chinese enterprises to participate in Latin America and the Caribbean, covering eight countries including Brazil, Mexico, Peru, Colombia, and Argentina [1] Group 2: Exhibition and Participation - The planned exhibition area for these projects exceeds 50,000 square meters, with nearly 20,000 square meters already exhibited [1] - A total of 1,588 enterprises have participated in these exhibitions, spanning various sectors such as machinery, auto parts, and medical equipment [1]

Core Insights - The traditional investment strategies are showing limitations in the face of increasing market volatility and uncertainty, prompting a need for new approaches [1] - The focus on macro-level risk-reward ratios can help navigate uncertainties in investment [1] - The "barbell" strategy is recommended for balancing stable and growth-oriented investments [1][5] Investment Strategies - The semiconductor industry is experiencing a shift, with inventory cycles decreasing from 8.7 months in Q2 2023 to 6.3 months by Q3 2024, indicating a potential recovery [2] - The innovative drug sector has rebounded significantly, with the Hong Kong Innovation Drug Index rising by 25.93% year-to-date as of May 16 [4] - AI remains a hot investment area, but there is a notable divergence between North American and domestic market developments, presenting both opportunities and challenges [4] Asset Allocation - A dual approach is suggested: investing in stable cash flow assets while also targeting innovative growth companies in sectors like new energy materials, high-end equipment, and AI applications [5][6] - The focus on high-dividend assets should prioritize stable companies with growth potential while avoiding those at cyclical peaks [6] - Growth-oriented investments should target sectors with low stock prices and high potential returns, particularly in innovative drugs, service consumption, and technology semiconductors [6]