| 驰、宝马、奥迪、大众、福特、通用、斯特兰提斯、保时捷等 | | --- | | 众多外知名海外客户建立起了合作关系。 | | Q3、公司固态电池目前进展？ | | 公司固态电池当前已经实现了连续化的试生产，并且在试 | | 生产过程中展现出较好的一致性。 | | Q4、公司固态电池性能上有何特点或优势？ | | 公司固态电池具有较高的安全性，通过了第三方检测机构 | | 的针刺、加热和过充电等安全试验，以及锂电池国际航运和陆 | | 运所需的 UN38.3 认证。 | | 公司固态电池另一个特点是具有较好的耐高温性能，依靠 | | 自然散热，即可在较高温度条件下连续正常工作。公司固态电 | | 池的耐高温特性，将为公司固态电池在狭小空间和场景下的应 | | 用提供更优的适配性。 | | Q5、公司固态电池在材料端与其他厂商的主要差别在哪？ | | 电解质材料体系的配方是公司固态电池技术的核心商业 | | 秘密，也是公司 2018 年投入固态电池研发以来不断摸索和迭 | | 代的成果。同时，公司掌握了固态电池材料体系的工艺窗口， | | 可以根据不同客户要求进行方案的定制化开发，以匹配不同应 | | 用场景 ...

（文章来源：证券日报） 证券日报网12月30日讯 ，德尔股份在接受投资者提问时表示，爱卓科技主营业务为汽车覆膜饰件、汽 车包覆饰件的研发、生产和销售。2024年，爱卓科技实现营收3.69亿元，同比增长68.95%；实现归母净 利润2358.65万元，同比增长65.42%。2025年上半年，爱卓科技业绩继续保持较好增长趋势，实现归母 净利润2646.73万元，超过去年全年水平。 ...

证券代码：300473 证券简称：德尔股份 阜新德尔汽车部件股份有限公司投资者关系活动记录表 编号：2025-010 公司固态电池下游应用方面，除了新能源汽车市场外，公 司也在开发包括人形机器人、两轮电动车、储能和消费等更广 泛领域的应用场景。 Q6、公司海外生产基地布局情况？ 公司固态电池通过了第三方检测机构的针刺、加热和过充 电等安全试验，以及锂电池国际航运和陆运所需的 UN38.3 认 证，具有较高的安全性。公司固态电池安全性较高的原因，一 方面系公司固态电池制备过程中避免了易燃性材料的使用，从 材料上保障了电池的安全性。其次，公司固态电池目前以氧化 物电解质技术路线为主，而氧化物电解质本身具有较高的化学 稳定性和机械稳定性，有助于提升电池安全性。 Q3、公司固态电池与下游客户的合作进展？ 公司与江西江铃集团新能源汽车有限公司的固态电池合 作项目稳步推进中，目前已经完成电芯样品试生产。除了与江 西江铃集团的战略合作协议外，公司也与其他客户签署了开发 协议或合作意向书。 Q4、公司固态电池目前试生产情况？ 首先，公司固态电池当前已经实现了连续化的试生产。并 且经过调试后，公司试生产过程中的电芯已经具备了较 ...

Core Viewpoint - Delong Co., Ltd. is actively expanding its presence in the new energy sector while maintaining steady growth in traditional automotive parts, showcasing strong development momentum through multiple business lines [1][2]. Group 1: Financial Performance - In the first three quarters of 2025, the company achieved revenue of 3.642 billion yuan, a year-on-year increase of 7.67% [1]. - The net profit attributable to shareholders reached 79.23 million yuan, reflecting a significant year-on-year growth of 228.13% [1]. - The growth in performance is attributed to increased revenue from new energy vehicle products and ongoing cost reduction measures that improved profitability [1]. Group 2: Globalization Strategy - The company has been pursuing a globalization strategy since acquiring the German company Kakuisi in 2017, which supplies noise reduction, thermal insulation, and lightweight products to high-end brands [2]. - Kakuisi has become a significant contributor to Delong's revenue and profit, establishing a foundation for the company's global operations [2]. Group 3: New Energy Initiatives - Delong has been focusing on solid-state battery technology since 2018, with ongoing advancements in technology and industrialization [2]. - The company has established a technical route based on oxide electrolytes, which has passed various safety tests and certifications, indicating high safety and thermal performance [2]. Group 4: Strategic Partnerships - The company has completed pilot production of battery cell samples in collaboration with Jiangxi Jiangling Group New Energy Vehicle Co., Ltd., aiming to expedite discussions for vehicle installation [3]. - Delong is also advancing the construction of a pilot production line, expected to be completed in the first half of 2026, which will facilitate mass production and shipping [3]. Group 5: Domestic Market Strengthening - Delong has enhanced its competitiveness in the automotive parts sector through the acquisition of Aizhuo Technology, which specializes in automotive film and covering parts [3]. - Aizhuo Technology's revenue for 2024 is projected to be 369 million yuan, with a year-on-year growth of 68.95%, contributing positively to Delong's profit after consolidation [4]. Group 6: Future Outlook - The integration of Aizhuo Technology is expected to bolster Delong's profits and provide new long-term growth opportunities [4]. - The existing overseas sales network of Delong will support Aizhuo's products in global markets, while Aizhuo's local presence will help strengthen Delong's domestic market position [4].

Core Viewpoint - Del Corporation (德尔股份) has received approval from the China Securities Regulatory Commission for its acquisition of Aizhuo Intelligent Technology Co., Ltd. (爱卓科技) for a total of 270 million yuan, marking a significant step in its industry consolidation efforts [1][2]. Group 1: Acquisition Details - The acquisition involves Del Corporation purchasing 100% of Aizhuo Technology's shares, with 70% acquired through a share issuance and 30% through a zero-price transfer [2]. - The company plans to raise up to 82.7 million yuan in supporting funds, primarily for the smart upgrade of Aizhuo's products, the construction of a research and development center, and transaction-related fees [2]. - Aizhuo Technology, established in 2005, specializes in the R&D, production, and sales of automotive film and covering parts, serving major clients like FAW, Xiaopeng, and Faurecia [2]. Group 2: Financial Commitments and Performance - The seller, Shanghai Deri, has committed to a net profit of no less than 84.42 million yuan for Aizhuo Technology from 2025 to 2027, with specific annual targets [3]. - Del Corporation has shown significant financial recovery, with a net profit of 12.88 million yuan in 2023, a 101.41% increase year-on-year, and a projected revenue of 4.51 billion yuan in 2024, reflecting a 4.98% growth [5]. - The company has experienced a strong growth momentum in 2025, with a revenue of 3.64 billion yuan in the first three quarters, a 7.67% increase year-on-year, and a net profit of 79.23 million yuan, a 228.13% surge [5]. Group 3: R&D and Strategic Importance - Del Corporation has invested a total of 888 million yuan in R&D over the past five years, maintaining a strong focus on innovation, which is crucial for its ongoing development [1][5]. - The acquisition is seen as a strategic move to expand Del Corporation's product structure and enhance its competitive edge in the automotive parts industry, aligning with the industry's shift towards electrification [1][3]. - The company holds 625 intellectual property rights, including 570 patents, which underscores its commitment to R&D and innovation [6].

Group 1: Market Trends - The pace of new listings has slowed, with 12 new private placement projects added in the last two weeks, a decrease of 10 projects compared to the previous period[2] - The number of terminated projects also decreased by 8, totaling 8 terminations in the same period[2] - The number of projects approved by the review committee increased by 5, totaling 12 approvals, while the number of projects registered by the CSRC decreased by 13, totaling 2 registrations[2] Group 2: Project Analysis - Fangzheng Technology plans to raise up to 1.98 billion CNY for an AI and high-density interconnect circuit board project, expected to generate an annual output value of approximately 2 billion CNY[2] - Deler Co. intends to acquire 100% of Aizhuo Technology and raise 0.83 billion CNY for smart upgrades, with the target company's valuation at 270 million CNY, reflecting a 203.33% increase[2][26] Group 3: Pricing and Discount Rates - The average base discount rate for the newly listed projects was approximately 14.34%, with a market price discount rate of 21.94% for the only competitive project listed in the last two weeks[30] - The average market price discount rate for two pricing projects was 48.99%[31] Group 4: Lock-up Period Returns - Among the three competitive projects that were unlocked, two had positive returns, with an average absolute return of 21.56% and an average excess return of -22.25%[42] - The average market price discount rate for these projects was 11.04%, indicating a slight increase from the previous period[42] Group 5: Risk Factors - Risks include slower-than-expected progress in private placement reviews, fluctuations in secondary market stock prices, and changes in the market environment for private placement pricing[49]

Core Viewpoint - Del's Automotive Parts Co., Ltd. has received approval from the Shenzhen Stock Exchange for its asset acquisition and fundraising plan, which is a significant step for the company's merger and acquisition strategy in the industry [2] Group 1: Transaction Details - The transaction consists of two parts: Del plans to acquire 100% of Aizhuo Intelligent Technology Co., Ltd. by purchasing 70% of its shares from Shanghai Deri Industrial Group for a price of 270 million yuan, while also acquiring the remaining 30% at zero cost [3] - The share issuance price is set at 14.15 yuan per share, which is 80% of the average trading price over the previous 120 trading days, with an expected issuance of approximately 19.08 million shares, accounting for 11.22% of the total share capital post-issuance [3] Group 2: Fundraising and Allocation - Del plans to raise up to 82.7 million yuan through a private placement to no more than 35 specific investors, with the funds allocated primarily to three projects: 49.2 million yuan for the smart upgrade of automotive decorative parts (Phase 1), 23.5 million yuan for the R&D center, and 10 million yuan for intermediary fees and taxes [4] - The fundraising is contingent upon the successful implementation of the share issuance for asset acquisition, but the acquisition will proceed regardless of the fundraising outcome [4] Group 3: Company Profile and Valuation - Aizhuo Technology, established in 2005, specializes in the R&D, production, and sales of automotive film and covering parts, recognized as a national high-tech enterprise with multiple intellectual property rights [4] - The 100% equity of Aizhuo Technology is valued at 270 million yuan based on the income approach, reflecting a 392.12% appreciation, with a projected net profit commitment for 2025, 2026, and 2027 of no less than 23.4 million yuan, 27 million yuan, and 34 million yuan, respectively [5]

Core Viewpoint - Del Shares plans to acquire 100% equity of Aizhuo Intelligent Technology (Shanghai) Co., Ltd. through a share issuance and zero-price transfer, while raising up to 82.7 million yuan in supporting funds, marking a significant step in industry consolidation [2][3] Transaction Structure - The transaction consists of two parts: Del Shares will issue shares to Shanghai Deri Industrial Group to acquire 70% equity of Aizhuo Technology for a price of 270 million yuan, and will acquire the remaining 30% equity at zero cost [3] - The share issuance price is set at 14.15 yuan per share, which is not less than 80% of the average trading price over the previous 120 trading days, with an estimated issuance of approximately 19.08 million shares, accounting for 11.22% of the total share capital post-issuance [3] Fundraising Details - Del Shares plans to raise up to 82.7 million yuan through a private placement to no more than 35 specific investors, with the funds allocated primarily for three projects: 49.2 million yuan for the smart upgrade of automotive decorative parts, 23.5 million yuan for a research center, and 10 million yuan for intermediary fees and taxes [4] - The fundraising is contingent upon the successful implementation of the asset acquisition, but the acquisition will proceed regardless of the fundraising outcome [4] Company Profile - Aizhuo Technology, established in 2005, specializes in the R&D, production, and sales of automotive film and covering parts, recognized as a national high-tech enterprise with multiple intellectual property rights [5] - As of September 30, 2024, the 100% equity of Aizhuo Technology is valued at 270 million yuan, reflecting a 392.12% appreciation, with a projected net asset value of 89.01 million yuan by June 30, 2025, indicating a 203.33% increase [5] Performance Commitments - Shanghai Deri has committed to ensuring that Aizhuo Technology's net profit attributable to the parent company for 2025, 2026, and 2027 will not be less than 23.4 million yuan, 27.0 million yuan, and 34.0 million yuan respectively, with compensation mechanisms in place for any shortfall [5] Strategic Implications - The acquisition will not change the control of Del Shares, as Aizhuo Technology will become a wholly-owned subsidiary, enhancing the company's financial metrics significantly [6] - Post-transaction, the net profit attributable to the parent company is expected to increase from 50.9 million yuan to 77.4 million yuan for the first half of 2025, representing a 52.06% growth, while earnings per share will rise from 0.34 yuan to 0.51 yuan, a 50.00% increase [6] - Strategically, the merger will broaden Del Shares' product structure and enhance synergies in customer resources and product development, particularly in lightweight and cost-effective automotive components [6]

Core Viewpoint - The report outlines the independent financial advisory services provided by Dongfang Securities for the acquisition of assets by Fuxin Del Automotive Parts Co., Ltd. through share issuance and fundraising, emphasizing the transaction's compliance with relevant regulations and its potential benefits for the company and its shareholders [1][2][3]. Group 1: Transaction Overview - The transaction involves Fuxin Del issuing shares to acquire 70% of Aizhuo Technology's equity and a zero-price acquisition of the remaining 30% from Xing Baichang Partnership, along with raising funds from no more than 35 specific investors [6][10]. - The total amount of funds raised through the share issuance is capped at 82.7 million yuan, which will be used for various projects including the smart upgrade of automotive parts and payment of intermediary fees [9][10]. Group 2: Financial Impact - The acquisition is expected to enhance the company's revenue and profit, with projections indicating an increase in total assets and net profit post-transaction [11][14]. - The financial indicators before and after the transaction show a projected increase in total assets from 369,856.66 million yuan to 409,280.69 million yuan, and net profit is expected to rise significantly [14][18]. Group 3: Shareholder Structure - Post-transaction, Shanghai Der will hold 11.22% of the shares, while the controlling shareholder's stake will decrease from 22.44% to 19.92%, indicating no change in control [12][13]. - The transaction will not alter the actual control of the company, as the major shareholders have committed to not reducing their holdings during the transaction process [15][17]. Group 4: Compliance and Governance - The company has adhered to all necessary legal and regulatory requirements throughout the transaction process, ensuring transparency and fairness for all shareholders [16][17]. - Independent financial and legal advisors have been engaged to conduct due diligence and provide professional opinions on the transaction [17][20]. Group 5: Performance Commitments - Shanghai Der has made performance commitments for the acquired company, with specific profit targets set for the next three years, ensuring accountability and potential compensation for any shortfalls [21][22]. - The company has outlined measures to mitigate any dilution of immediate returns resulting from the transaction, including enhancing operational efficiency and optimizing profit distribution policies [19][20].

Group 1 - The core point of the news is that Fuxin Del Automotive Parts Co., Ltd. plans to issue shares to acquire 70% of Aizhuo Technology and zero-price transfer of 30% of Aizhuo Technology from a related party, while raising supporting funds from no more than 35 specific investors [9][10][12] - The transaction is classified as a major asset restructuring under the relevant regulations, and it is expected to enhance the company's revenue and profit, thereby improving its sustainable profitability [14][17] - The transaction will not change the control of the company, as the controlling shareholder's stake will decrease slightly but remain significant [17][19] Group 2 - The company aims to raise up to 82.7 million yuan through the issuance of shares, with the funds primarily allocated for the smart upgrade and expansion of Aizhuo Technology's automotive parts [12][22] - The acquisition is expected to result in a significant increase in total assets, operating income, and net profit, enhancing the company's overall financial performance [17][21] - The company has committed to strict performance guarantees and compensation arrangements to mitigate the dilution of immediate returns for investors [22][23]