刚刚上市的友升股份(603418.SH)，再获海外大单。 9月26日晚间，友升股份公告，公司的全资子公司泽升欧洲于近日收到德国某知名车企的项目定点通 知，公司将为该客户开发、生产电池托盘系列产品。根据客户规划，该定点项目预计于2027年9月开始 量产，项目的生命周期预计为7年，全生命周期总销售金额预计约为人民币23亿元。 长江商报记者注意到，友升股份9月23日刚刚上市，公司合作优质客户，整车厂商客户主要为特斯拉、 广汽集团、蔚来汽车、北汽新能源、吉利集团、赛力斯（601127）等。 2022年—2024年，友升股份对前五大客户销售收入分别为12.35亿元、15.21亿元、20.44亿元，占公司营 业收入的比例分别为52.55%、52.37%、51.75%。其中，2024年友升股份的前五大客户分别为特斯拉、 宁德时代（300750）、赛力斯、海斯坦普与蔚来汽车。 2010年，公司与国际知名汽车零部件一级供应商威巴克开始建立合作关系，向其供应减震件系列零部 件，与国内一级汽车零部件供应商凌云工业开始建立合作关系，向其供应保险杠系列零部件；2013年， 公司为华域汽车（600741）提供门槛梁等零部件，开始参与到凯 ...

Major Events - Baiyun Airport announced a joint investment with China Duty Free Group to establish a duty-free company at Guangzhou Baiyun Airport with a registered capital of 45 million yuan, where China Duty Free will contribute 22.95 million yuan for a 51% stake [4] - Dongxing Medical plans to acquire 90% of Wuhan Yijiaobao's equity for cash, which is expected to constitute a major asset restructuring [5] - Fosun Pharma's subsidiary is planning to transfer 100% of Shanghai Clon to enhance asset operation efficiency, with a transaction value of up to 1.256 billion yuan [7] - Hengxing Technology's subsidiary is undergoing a review for the extension of mining license for Longtoushan Gold Mine, with exploration activities ongoing [8] - New Sai Co.'s general manager Chen Jianjiang resigned due to work adjustments [9] - Hailiang Co. is planning to issue H-shares and list on the Hong Kong Stock Exchange, with details yet to be finalized [10] - Zhejiang University Net announced plans to sell 48.6 million shares of Wanliyang, expecting a transaction amount of 475 million yuan [11] - Huazhong Precision terminated its plan to issue A-shares to specific investors, which also halts the acquisition of control by a third party [12] - Jiazhe New Energy stated that its green chemical business is not yet commercially viable [13] Significant Contracts - Haitai Development's subsidiary signed a property sale contract worth 440 million yuan, expected to increase profits by approximately 62.86 million yuan in 2025 [18] - Dongjie Intelligent's overseas subsidiary received a procurement order worth approximately 180 million yuan, accounting for 22.3% of the company's audited revenue for 2024 [19][20] - Zhiguang Electric's subsidiary signed a procurement contract worth 164 million yuan for energy storage systems [21] - ST Songfa's subsidiary signed contracts for building four oil tankers, with a total value between 400 million to 600 million USD [22] - Huaguang Huaneng signed a sales contract for waste heat boilers worth 160 million yuan for a power plant project in Cambodia [23] - Keda Intelligent plans to issue H-shares and list on the Hong Kong Stock Exchange, with details still under discussion [24] Shareholding Changes - Zai Sheng Technology's controlling shareholder plans to reduce holdings by up to 3% [28] - Compton plans to reduce up to 1% of its repurchased shares [29] - Aorede plans to reduce up to 1.29% of its shares from the repurchased stock [30] - Yidian Tianxia's controlling shareholder plans to reduce up to 3% of its shares [31] - Huace Film's shareholders plan to transfer 3.6% of the company's shares through an inquiry transfer [32] Buybacks and Financing - Qibin Group obtained a special financing support of up to 90 million yuan for share repurchase [33] - CanSino plans to cancel 406,100 repurchased shares and reduce registered capital accordingly [35] Fundraising Initiatives - Xianhe Co. plans to raise up to 3 billion yuan through a private placement for a high-performance paper-based new materials project [36] - Guanshi Technology plans to raise up to 700 million yuan for photomask manufacturing and other projects [37] - Beilu Pharmaceutical plans to raise up to 300 million yuan for production line upgrades and working capital [38]

Core Viewpoint - The company has received a project designation notification from a well-known German automotive manufacturer for the development and production of battery tray series products, marking a significant step in its expansion in the international new energy vehicle market [1] Group 1: Project Details - The project is expected to commence mass production in September 2027 and has a projected lifecycle of 7 years [1] - The total sales amount over the project's lifecycle is estimated to be approximately RMB 2.3 billion [1] Group 2: Strategic Implications - This project designation reflects the company's ongoing efforts to expand and deepen its presence in the international new energy vehicle market [1] - The project is expected to further promote the company's overseas business layout and sustainable rapid development, aligning with its overall development strategy [1]

智通财经APP讯，友升股份(603418.SH)发布公告，公司的全资子公司泽升欧洲于近日收到德国某知名 车企的项目定点通知，公司将为该客户开发、生产电池托盘系列产品。根据客户规划，该定点项目预计 于2027年9月开始量产，项目的生命周期预计为7年，全生命周期总销售金额预计约为人民币23亿元。 此次项目定点是公司在国际新能源汽车市场不断拓展和深化的表现，有利于进一步推动公司海外业务布 局和持续快速发展，符合公司整体发展战略。 ...

格隆汇9月26日丨友升股份(603418.SH)公布，公司的全资子公司泽升欧洲于近日收到德国某知名车企的 项目定点通知，公司将为该客户开发、生产电池托盘系列产品。根据客户规划，该定点项目预计于2027 年9月开始量产，项目的生命周期预计为7年，全生命周期总销售金额预计约为人民币23亿元。 ...

Group 1 - The core point of the article is that YouSheng Co., Ltd. (603418) announced that its wholly-owned subsidiary, ZeSheng Europe, has received a project designation notification from a well-known German automotive company to develop and produce a series of battery tray products [1] - The project is expected to commence mass production in September 2027 [1] - The total sales amount for the entire lifecycle of the project is estimated to be approximately 2.3 billion yuan [1]

Core Viewpoint - The company has received a project designation notification from a well-known German automotive manufacturer for the development and production of battery tray series products, indicating recognition of its product development capabilities and supply qualifications [1] Group 1 - The project is expected to commence mass production in September 2027, with a total sales amount projected to be approximately 2.3 billion yuan over its entire lifecycle [1] - The project designation does not constitute a final order or sales contract, and actual sales amounts will be confirmed through orders [1] - This project designation will assist the company in expanding its international market presence and promoting the development of its overseas business [1]

Core Viewpoint - YouSheng Co., Ltd. successfully passed its IPO review after two attempts, aiming to raise 2.471 billion yuan for expansion and operational needs, despite facing financial challenges such as negative cash flow and increasing accounts receivable [2][3][4]. Group 1: IPO and Fundraising - YouSheng Co., Ltd. plans to raise 2.471 billion yuan through its IPO, significantly increasing its fundraising target from 633 million yuan in its previous attempt [4][7]. - The company aims to allocate 1.271 billion yuan for the construction of a production base in Yunnan, 700 million yuan for battery tray and chassis manufacturing expansion, and 500 million yuan for working capital [8][14]. Group 2: Financial Performance - The company reported revenues of 2.35 billion yuan, 2.905 billion yuan, and 3.95 billion yuan for the years 2022, 2023, and 2024, respectively, with net profits of 233 million yuan, 321 million yuan, and 405 million yuan [8][15]. - In Q1 2025, YouSheng achieved a revenue of 946 million yuan and a net profit of approximately 88.5 million yuan, showing growth compared to the previous year [8]. Group 3: Cash Flow and Accounts Receivable - YouSheng's operating cash flow turned negative, with net cash flow from operating activities reported as 49.12 million yuan, 38.02 million yuan, and -253 million yuan for 2022, 2023, and 2024, respectively [9][10]. - Accounts receivable nearly doubled, increasing from 698 million yuan to 1.353 billion yuan, with the proportion of accounts receivable to revenue rising from 29.71% to 34.25% [10][12]. Group 4: Customer Concentration and Revenue Sources - Major clients include Tesla, GAC Group, and NIO, with Tesla contributing over 24.23% of total sales [9][11]. - The top five customers accounted for over 51% of total revenue during the reporting period, indicating high customer concentration [11]. Group 5: Financial Ratios and Trends - The company's asset-liability ratio increased from 41.30% in 2022 to 62.62% in 2024, indicating rising financial leverage [15]. - The gross profit margin showed an unusual trend, increasing from 20.55% in 2022 to 21.04% in 2023, while competitors experienced declining margins [16].

Core Viewpoint - Shanghai Yousheng Aluminum Industry Co., Ltd. (Yousheng) is set to undergo an IPO review on June 20, 2025, after previously withdrawing its application in 2022. The market is particularly focused on its growth prospects despite underlying financial risks [3][4]. Financial Performance - Yousheng's revenue has shown rapid growth, with reported revenues of 2.35 billion, 2.90 billion, and 3.95 billion yuan from 2022 to 2024, respectively [10]. - The company's net profit for the same period was 233 million, 321 million, and 405 million yuan, indicating a positive growth trend [10]. - However, the company's accounts receivable have also increased significantly, reaching 698 million, 944 million, and 1.35 billion yuan, which represents 29.71%, 32.48%, and 34.25% of revenue, respectively [10]. IPO Details - Yousheng plans to raise 2.471 billion yuan through the issuance of up to 48.27 million new shares, with funds allocated for various projects including a production base and working capital [3][4]. - The current IPO fundraising target is more than three times higher than the previous attempt in 2021, which aimed to raise 633 million yuan [4]. Capacity Utilization - Despite the ambitious fundraising, Yousheng's capacity utilization has been declining, with rates of 96.21%, 95.28%, 92.91%, and 95.15% from 2021 to 2024, raising questions about the necessity of expanding capacity [4][5]. Customer Concentration - Yousheng's revenue is highly concentrated among a few major clients, with the top five customers accounting for over 51% of total revenue from 2022 to 2024 [5][10]. - The company has significant contracts with well-known automotive manufacturers such as Tesla and NIO, but faces risks if these clients reduce orders or switch suppliers [8][10]. Cash Flow and Dividend Issues - The company has faced cash flow challenges, with net cash flow from operating activities showing a negative trend in 2024, contrasting sharply with revenue growth [10][12]. - Despite cash flow issues, Yousheng distributed 60 million yuan in dividends to its controlling shareholders, raising concerns about the sustainability of its financial practices [12].