Investment Rating - The investment rating for the company is "Buy" and is maintained [4]. Core Views - The company achieved a revenue of 1.05 billion yuan in Q2 2025, representing a year-on-year increase of 3.9%, while the net profit attributable to the parent company was 100 million yuan, down 2.4% year-on-year [2][4]. - The company is expanding its product offerings in aluminum die-casting, extrusion, and forging for automotive parts, while also accelerating its layout in magnesium alloys and the robotics sector [2][8]. - The company aims to establish a triangular production capacity network across China, North America, and Southeast Asia, positioning itself as a global aluminum platform enterprise [2][8]. Summary by Sections Financial Performance - In Q2 2025, the company reported a gross margin of 22.7%, an increase of 2.1 percentage points year-on-year and 1.9 percentage points quarter-on-quarter, driven by product structure optimization and cost reduction efforts [8]. - The company’s operating expenses ratio was 8.5%, down 1.8 percentage points year-on-year and 2.7 percentage points quarter-on-quarter, benefiting from a decrease in financial expenses [8]. Business Development - The company has secured approximately 1.9 billion yuan in orders from mainstream North American electric vehicle platforms and has won key project bids from several leading domestic new energy manufacturers [8]. - The company’s Mexican factory commenced operations in June 2025, and a new facility in Thailand broke ground in July 2025, supporting its global expansion strategy [8]. Future Outlook - The company is expected to achieve net profits of 480 million yuan, 620 million yuan, and 770 million yuan for the years 2025, 2026, and 2027, respectively, with corresponding price-to-earnings ratios of 28.6X, 22.3X, and 17.9X [8].

证券代码：603305 证券简称：旭升集团 公告编号：2025-050 债券代码：113685 债券简称：升 24 转债 宁波旭升集团股份有限公司 关于 2024 年度暨 2025 年半年度"提质增效重回报" 行动方案的评估报告 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个别及连带责任。 为落实国务院《关于加强监管防范风险推动资本市场高质量发展的若干意 见》《关于进一步提高上市公司质量的意见》相关要求，积极响应上海证券交易 所《关于开展沪市公司"提质增效重回报"专项行动的倡议》，践行"以投资者 为本"的上市公司发展理念，维护全体股东利益，宁波旭升集团股份有限公司（以 下简称 "公司"）于 2024 年 8 月 17 日发布了《关于 2024 年度"提质增效重回 报"行动方案的公告》，公司积极开展和落实相关工作，现对该行动方案实施情 况进行评估总结，具体如下： 一、持续优化业务格局，提升经营质量与可持续发展力 公司始终以铝合金轻量化技术为核心，深耕新能源汽车主业，同时前瞻布局 储能、人形机器人等新兴领域，形成"技术深耕+跨界突破"的双 ...