广东迪生力汽配股份有限公司2025 年半年度报告 公司代码：603335 公司简称：迪生力 广东迪生力汽配股份有限公司 广东迪生力汽配股份有限公司2025 年半年度报告 重要提示 一、 本公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真实性、准确 性、完整性，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、 公司全体董事出席董事会会议。 三、 本半年度报告未经审计。 四、 公司负责人赵瑞贞、主管会计工作负责人林子欣及会计机构负责人（会计主管人员）黄少 华声明：保证半年度报告中财务报告的真实、准确、完整。 五、 董事会决议通过的本报告期利润分配预案或公积金转增股本预案 否 六、 前瞻性陈述的风险声明 √适用 □不适用 本报告中所涉及的未来计划、发展战略等前瞻性描述不构成公司对投资者的实质承诺，敬请投资 者注意投资风险。 七、 是否存在被控股股东及其他关联方非经营性占用资金情况 否 八、 是否存在违反规定决策程序对外提供担保的情况 否 九、 是否存在半数以上董事无法保证公司所披露半年度报告的真实性、准确性和完整性 否 十、 重大风险提示 公司已在本报告中详细描述可能存在的 ...

Group 1 - The stock price of Disenli reached 5.51 yuan as of the close on August 11, 2025, with an increase of 0.15 yuan, representing a rise of 2.8% [1] - The trading volume on that day was 174,700 hands, with a transaction amount of 95 million yuan [1] - Disenli primarily engages in the research, production, and sales of aluminum alloy wheels for automobiles, mainly applied in the passenger vehicle sector [1] Group 2 - On the evening of August 11, Disenli announced that its third extraordinary general meeting of shareholders in 2025 approved the proposal regarding land reserve [1] - On August 11, the net inflow of main funds was 5.2513 million yuan, accounting for 0.22% of the circulating market value [1] - Over the past five trading days, the cumulative net outflow of main funds was 19.0619 million yuan, representing 0.81% of the circulating market value [1]

Group 1 - The core point of the article is that Disenli (stock code: 603335) announced the establishment of a joint venture, Guangdong Zhongtuo Metal Resources Co., Ltd., with a registered capital of RMB 50 million to secure raw material supply and enhance industry influence [2] - The investment structure includes Jiangsu Fengchuang contributing RMB 27.5 million (55%), while Disenli New Materials and Guangdong Weima each contribute RMB 10 million (20%), and Jia Shurong contributes RMB 250,000 (5%) [2] - Disenli's main business involves investment and trade in African minerals, with plans to establish a wholly-owned subsidiary in Africa for the mining, processing, and sales of lithium and other non-ferrous metal ores [2] Group 2 - Disenli has 32 affiliated companies, including Huahong Group Co., Ltd. and Guangzhou Disenli Investment Co., Ltd. [3] - The company's revenue for 2022 to 2024 is projected to be RMB 1.677 billion, RMB 1.688 billion, and RMB 1.045 billion, with year-on-year growth rates of 28.63%, 0.63%, and -38.11% respectively [3] - The net profit attributable to the parent company for the same period is expected to be -RMB 38.4391 million, -RMB 149 million, and -RMB 145 million, with year-on-year changes of -215.31%, -287.07%, and 2.67% respectively [3]

Core Viewpoint - The company is committed to transforming public transportation through innovative technologies, focusing on automotive lightweighting and general aviation manufacturing as dual engines for growth [2][3]. Group 1: Automotive Lightweighting Business - Founded in 2001, the company has developed a dual-engine growth model centered on automotive lightweighting and general aviation manufacturing [3]. - In 2024, the company achieved a revenue of 16.264 billion yuan, with over 80% of this revenue coming from the automotive lightweighting sector [3]. - The company is a leading player in the aluminum alloy wheel hub market and has successfully transitioned to support new energy vehicles, establishing long-term partnerships with major manufacturers [3]. - The magnesium alloy die-casting segment is facing a sales decline due to product lifecycle issues, but the aluminum alloy business is experiencing growth [4]. Group 2: General Aviation Manufacturing - The general aviation manufacturing business saw a revenue increase of 1.62% year-on-year in 2024, becoming the company's second-largest growth driver [5]. - The company has established a comprehensive sales network with 192 service agents globally, and its production bases are located in various countries including Canada, Austria, and Germany [6]. - The company has restructured the core assets of Volocopter GmbH to enhance its eVTOL product development capabilities, integrating advanced technologies for urban air mobility [6][7]. Group 3: Future Development and Strategy - The company plans to continue its dual-engine strategy, focusing on automotive lightweighting and general aviation manufacturing while expanding its global footprint and technological innovation [8]. - Future plans in the eVTOL sector include launching various models for urban and intercity transportation, as well as developing customized aircraft based on client requirements [8]. - The company aims to create a commercial ecosystem around urban air transportation solutions, including an air taxi booking platform and takeoff/landing facilities [8][9].

Core Viewpoint - The company aims to conduct futures and derivatives hedging business to mitigate operational risks associated with price fluctuations of key products and raw materials, ensuring stable profit margins and operational efficiency [1][2][3]. Group 1: Transaction Purpose and Overview - The primary goal of the hedging business is to avoid and prevent risks from market price fluctuations of main products and raw materials, locking in expected profits or reducing losses from price declines [1][2]. - The hedging activities will be limited to futures and derivatives contracts related to metals such as aluminum, nickel, and lithium, as well as other raw materials relevant to the company's operations [1][3]. - The company will not engage in speculative or arbitrage trading, focusing solely on risk management [3][4]. Group 2: Transaction Amount and Funding - The maximum investment amount for the futures and derivatives hedging business will not exceed RMB 20 million at any given time, with the highest contract value held on any trading day capped at RMB 100 million [2][3]. - The funding for these activities will come from the company's own and self-raised funds, without involving raised capital [3][4]. Group 3: Approval Process - The company held a meeting on May 20, 2025, where the board of directors approved the proposal for the hedging business, which does not require shareholder approval [2][4]. - The audit committee confirmed that the hedging activities are closely related to daily operational needs and that the company has established a comprehensive management system for these activities [4][5]. Group 4: Risk Analysis and Control Measures - The company acknowledges potential risks associated with market volatility, liquidity, operational errors, and legal compliance, but emphasizes that the hedging activities are designed to minimize these risks [5][6]. - Risk control measures include establishing a robust hedging mechanism, conducting market data analysis, and implementing strict internal controls to manage funds and monitor risks [6][7]. Group 5: Impact on the Company - The hedging business is expected to enhance the company's ability to withstand price fluctuations, thereby improving financial stability without affecting the development of its core business [3][4]. - The company will adhere to relevant accounting standards for the recognition and measurement of financial instruments related to the hedging activities [7][8].

Financial Performance - In 2024, the company achieved a revenue of 162.64 billion CNY, a year-on-year increase of 0.35% [1] - The net profit attributable to shareholders for 2024 was 6.53 billion CNY, a decline of 10.14% compared to the previous year [1] - In Q1 2025, the company reported a revenue of 35.67 billion CNY, reflecting a growth of 0.75% [1] - The net profit for Q1 2025 was 2.75 billion CNY, showing a significant increase of 21.3% year-on-year [2] Business Segments - The automotive metal parts lightweighting segment generated a revenue of 134.50 billion CNY, with a slight increase of 0.09% [2] - The general aviation aircraft manufacturing segment achieved a revenue of 28.14 billion CNY, growing by 1.62% [2] - The sales of aluminum alloy wheels reached 22.34 million sets, marking a year-on-year growth of 17.27% [2] Strategic Initiatives - The company is focusing on optimizing product structure and deepening cooperation in the new energy sector [1] - Following the acquisition of Volocopter's core assets, the company aims to integrate resources and enhance its eVTOL business [3] - The company plans to develop a multi-scenario product travel matrix, including fixed-wing, vertical take-off and landing aircraft, and drones [3] eVTOL Product Development - The company is developing urban air mobility solutions with the Volocopter 2X and VoloCity models, targeting certification by 2025-2026 [5] - The intercity air mobility solutions will utilize VoloRegion and VoloConnect models, designed for high endurance and speed [5] - The drone solutions, based on eVTOL technology, can carry up to 200 kg over a range of 40 km, targeting logistics in hard-to-reach areas [5] Global Market Strategy - The company has established manufacturing bases in Canada, Mexico, and the USA to mitigate tariff impacts, with less than 4% of sales to the US market affected by tariffs [6] - The company is enhancing its market share in the Asia-Pacific region, particularly among mid-to-high-end customers [6] - The strategy includes leveraging opportunities in the new energy vehicle market to integrate into core customer supply chains [6]