带领华锋股份（002806）走过逾20年后，控股股东、实际控制人及董事长谭帼英决定让出公司的控制权。11月24日早间，华锋股份披 露筹划易主停牌公告，当日午间揭晓了公司的接盘方，陈运拟取得公司控制权，公司股票自11月24日起停牌。在陈运的履历上，可以 看到合力泰、三利谱两家上市公司的身影，其曾任两家公司联合创始人，目前旗下主要资产系胜宝莱光电科技有限公司（以下简称"胜 宝莱"）。此次易主背后，华锋股份近年来业绩表现并不理想，2022—2024年扣非后归属净利润接连亏损，2025年前三季度公司净利、 扣非后归属净利润也均处于亏损状态。 具体来看，陈运出生于1975年9月，曾担任合力泰联合创始人、董事、副总经理，但于2018年退出。据悉，合力泰2008年登陆A股市 场，在消费电子、智能家居、智能金融数据终端、工业控制及自动化、民生能源、健康医疗、车载电子等领域为全球提供液晶触控显 示模组和OLED触显模组等综合解决方案。 此外，陈运还曾任另一家上市公司三利谱的联合创始人、董事、副总经理。2017年上市的三利谱主要从事偏光片产品的研发、生产和 销售，主要产品包括TFT系列和黑白系列偏光片两类。 截至公告披露日，陈运 ...

【导读】华锋股份拟筹划控制权变更事项 中国基金报记者 卢鸰 11月24日早间，深交所公告，广东华锋新能源科技股份有限公司拟筹划控制权变更事项，根据本所《股 票上市规则》和《上市公司自律监管指引第6号——停复牌》的有关规定，经公司申请，公司股票（证 券简称：华锋股份，证券代码：002806）于2025年11月24日开市起临时停牌。 华锋股份的董事长、控股股东、实际控制人谭帼英是一位女性高级工程师，现年75岁。曾任华南理工大 学校团委副书记、数学系党总支副书记，广东华侨信托投资公司副总经理、投资部总经理等。 华锋股份目前的主要业务为新能源汽车电控及驱动系统的研发、生产、销售以及技术服务，以及电极箔 的研发、生产、销售。 9月20日，华锋股份公告，持有公司股份812.25万股（占公司总股本比例3.82%）的股东、董事、总经理 林程，计划自公告披露之日起15个交易日后的三个月内（即2025年10月21日至2026年1月20日）以集中 竞价或大宗交易方式减持公司股份不超过203.06万股（占公司总股本比例0.96%）。 9月10日，华锋股份董事周辉以自有资金通过深圳证券交易所集中竞价交易方式增持公司股份1000股。 1 ...

Core Viewpoint - Guangdong Huafeng New Energy Technology Co., Ltd. is planning a change in control, leading to a temporary suspension of its stock trading starting November 24, 2025 [1] Group 1: Company Overview - Huafeng Co., Ltd. primarily engages in the research, production, sales, and technical services of electric control and drive systems for new energy vehicles, as well as the research, production, and sales of electrode foils [4] - The current chairman, controlling shareholder, and actual controller is Tan Guoying, a 75-year-old female senior engineer with a background in various leadership roles [3] Group 2: Financial Performance - In the first half of 2025, Huafeng Co., Ltd. achieved total operating revenue of 586 million yuan, a year-on-year increase of 25.89% [5] - The net profit attributable to shareholders was -7.3964 million yuan, a year-on-year decline of 416.6%, primarily due to decreased sales prices and profit margins in both electrode foil and new energy vehicle sectors [5] Group 3: Shareholder Activity - On September 20, 2025, shareholder and general manager Lin Cheng announced plans to reduce his holdings by up to 203.06 million shares, representing 0.96% of the total share capital, within three months starting from October 21, 2025 [5] - On October 29, 2025, Lin Cheng sold 566,000 shares at an average trading price of 13.85 yuan per share [7] - Prior to the suspension, Huafeng Co., Ltd.'s stock price was 13.22 yuan per share, with a total market capitalization of 2.809 billion yuan [8]

【导读】华锋股份拟筹划控制权变更事项 中国基金报记者 卢鸰 11 月 24 日早间，深交所公告，广东华锋新能源科技股份有限公司拟筹划控制权变更事项， 根据本所《股票上市规则》和《上市公司自律监管指引第 6 号 —— 停复牌》的有关规定， 经公司申请，公司股票（证券简称：华锋股份，证券代码： 002806 ）于 2025 年 11 月 24 日开市起临时停牌。 华锋股份的董事长、控股股东、实际控制人谭帼英是一位女性高级工程师，现年 75 岁。曾任 华南理工大学校团委副书记、数学系党总支副书记，广东华侨信托投资公司副总经理、投资 部总经理等。 华锋股份目前的主要业务为新能源汽车电控及驱动系统的研发、生产、销售以及技术服务， 以及电极箔的研发、生产、销售。 制作：舰长 审核：陈思扬 注：本文封面图由AI生成 9 月 10 日，华锋股份董事周辉以自有资金通过深圳证券交易所集中竞价交易方式增持公司股 份 1000 股。 10 月 29 日，林程以 13.85 元 / 股的交易均价减持华锋股份 56.6 万股。 此次停牌前，华锋股份股价为 13.22 元 / 股，总市值为 28.09 亿元。 编辑：格林 校对：乔伊 20 ...

Core Points - Huafeng Co., Ltd. experienced a stock price increase of 5.01%, reaching 13.84 CNY per share, with a total market capitalization of 2.941 billion CNY [1] - The company specializes in the research, production, and sales of electric control and drive systems for new energy vehicles, contributing 62.02% to its main business revenue, while electrode foil accounts for 37.95% [1] Company Overview - Huafeng Co., Ltd. was established on August 30, 1995, and went public on July 26, 2016 [1] - The company is located in the Jin Du Industrial Park, Gaoyao District, Zhaoqing City, Guangdong Province [1] Shareholder Information - Noan Fund's Noan Multi-Strategy Mixed A (320016) entered the top ten circulating shareholders, holding 1.3087 million shares, which is 0.75% of the circulating shares [2] - The fund has achieved a year-to-date return of 75.13%, ranking 210 out of 8145 in its category [2] Fund Manager Details - The fund manager of Noan Multi-Strategy Mixed A is Kong Xianzheng, who has been in the position for 4 years and 353 days [3] - The fund's total asset size is 5.608 billion CNY, with the best return during his tenure being 91.19% [3]

Core Insights - The main business of the company includes research, production, sales, and technical services of electric control and drive systems for new energy vehicles, as well as the development and production of electrode foils [2] - The revenue structure shows that the electric control and drive systems for new energy vehicles account for the highest proportion at 52.26%, followed closely by electrode foils at 47.73% [2] - The company achieved a net profit attributable to shareholders of 0.85 billion yuan in the latest complete fiscal year 2024, representing a cumulative growth of 225.46% since its listing in 2016 [2] - The company has experienced three years of losses since its listing, with five years of profit, indicating a profit rate of 55.56% [2] Revenue Analysis - In 2020, the company reported a revenue of 4.40 billion yuan, which increased to 10.31 billion yuan by 2024 [3] - The revenue growth rate reached 43.3% in 2024, despite fluctuations in the intervening years [3] Profit Analysis - The company recorded a net profit attributable to shareholders of -3.05 billion yuan in 2020, recovering to 0.85 billion yuan in 2024 [4] - This indicates significant volatility in profitability, transitioning from deep losses to profitability over the years [4] Market Capitalization - Since its listing, the company's market capitalization has increased by 2.50 times [6] - The peak market capitalization reached 67.65 billion yuan on May 22, 2018, with a corresponding stock price of 49.34 yuan [6] - As of July 25, the stock price was 12.17 yuan, with a market capitalization of 25.00 billion yuan, reflecting a decrease of 42.65 billion yuan from its peak, equating to a 63.05% market value evaporation [6]

Company Overview - Guangdong Huafeng New Energy Technology Co., Ltd. maintains a long-term credit rating of A- with a stable outlook for both the company and its convertible bonds [1][3] - The company primarily engages in the research, production, and sales of electric control and drive systems for new energy vehicles, as well as the development and production of electrode foils [13] Financial Performance - In 2024, the company reported a significant increase in operating revenue, reaching 10.31 billion yuan, with a profit of 0.97 billion yuan [13][29] - The company’s cash assets increased from 2.40 billion yuan in 2023 to 3.54 billion yuan in 2024, indicating improved liquidity [11] - The company’s total assets grew from 17.20 billion yuan in 2023 to 20.63 billion yuan in 2024, reflecting a positive trend in asset accumulation [11] Business Segments - The new energy vehicle drive system segment saw substantial growth, driven by increased orders from major clients such as Foton Motor, contributing to a revenue increase [29] - The electrode foil business also experienced growth due to a recovery in demand from the electronic components industry, with a notable increase in sales volume and revenue [29] Industry Analysis - The electronic aluminum foil industry is benefiting from a recovery in the consumer electronics sector and the growth of the new energy vehicle market, which is expected to continue driving demand [18][21] - In 2024, China's new energy vehicle sales reached 12.87 million units, a year-on-year increase of 35.5%, indicating a strong market for related components [22] - The aluminum oxide industry is also experiencing growth, with production expected to rise, further supporting the demand for electronic aluminum foils [18] Competitive Position - The company holds over 50 technology patents in the electrode foil sector and has established itself as a supplier to well-known aluminum electrolytic capacitor manufacturers [6][24] - Despite its competitive advantages, the company faces challenges such as high dependency on a single customer for its new energy vehicle drive systems, which affects its pricing power [5][8] Future Outlook - The company’s rating outlook remains stable, with potential for upgrades if asset quality improves significantly or if there are major technological breakthroughs in its new energy vehicle systems [6] - The ongoing expansion of the new energy vehicle market and the company's strategic initiatives in R&D are expected to enhance its market position and financial performance in the coming years [21][24]

Group 1: Company Overview - The company, Guangdong Huafeng New Energy Technology Co., Ltd., provides a smart unmanned antenna vehicle based on a 1/4 drive steering angle module, which has achieved small-scale sales [2][3]. - The vehicle features high mobility performance, including lateral parking, arc driving, diagonal driving, and turning in place, meeting specific user needs [2]. Group 2: Technological Advancements - The company has developed a 4μm ultra-thin copper foil carbon coating technology, significantly enhancing fast charging performance for high energy density consumer batteries [3]. - It is the first in China to introduce etching technology for aluminum foil below 15μm, aligning with global leading JCC technology standards [3]. Group 3: Market Expansion and Strategy - The company is actively expanding into low-altitude economy and electric ship markets, leveraging its technology in electric control and drive systems [3][4]. - Plans include extending technology to core components of low-altitude aircraft and adapting electric control technology for electric ship power systems [4]. Group 4: Collaborations and Partnerships - The company collaborates with major commercial vehicle manufacturers such as Foton Motor and FAW Jiefang, covering products like vehicle controllers and high-voltage integrated controllers [5]. - It aims to enhance its market competitiveness by building alliances across the industry chain, driving product and technology upgrades [6]. Group 5: Future Product Development - New product directions include next-generation fully integrated controllers for heavy trucks and electric control systems [5]. - The company is focused on developing a complete solution for new energy vehicles, covering materials, components, and complete vehicles [6]. Group 6: Competitive Advantages - The company leverages its strong technical foundation and partnerships with universities to enhance its market position and drive innovation [6]. - It emphasizes high-quality customer service and a comprehensive supply chain integration to promote technological advancement across the industry [6].