开辟增长新曲线 锚定双轮驱动战略 在全球汽车产业格局重构之际，国际化布局与国内产能优化成为汽车零部件企业破局的两个重要路径。 对此，凯众股份锚定"国内优化+海外扩张"的双轮驱动战略，推动海内外市场协同发力、全域赋能。 侯振坤表示，在国内，凯众股份3.08亿元可转债资金投入的南通基地扩产项目稳步推进，该项目建成 后，将新增年产聚氨酯减震元件2700万件、轻量化踏板总成350万件的产能，"公司第三代自动化生产线 即将调试完成，产能较前代大幅提高且占地面积更少，单位面积产出与利润将显著提升。同时，公司创 新采用'主生产基地+卫星工厂'模式，在广州、宁德、洛阳等地布局卫星工厂，以便就近装配与快速响 应客户需求，后续还计划根据业务拓展新增2家至3家工厂。" 与此同时，凯众股份的国际化布局蹄疾步稳。据侯振坤介绍，2024年，凯众股份在墨西哥的工厂已正式 量产，直接服务于国际知名新能源车企，以及通用、福特等北美核心客户，并可覆盖墨西哥当地450万 台/年的汽车产能。此外，公司同步推进的摩洛哥工厂将于明年一季度开始建设，预计2026年底投产， 该工厂将凭借"距西班牙直线14公里"的地理优势，通过"海运+陆运"联动，一周内即可 ...

Core Viewpoint - Kaizhong Co., Ltd. (603037) reported a revenue of 349 million yuan in the first half of 2025, reflecting a year-on-year growth of 0.89%, and a net profit attributable to shareholders of 37.79 million yuan, with a significant increase in net cash flow from operating activities by 171.39% to 79.30 million yuan [1][4]. Financial Performance - The company achieved a revenue of 349 million yuan in H1 2025, with a net profit of 37.79 million yuan and a net cash flow from operating activities of 79.30 million yuan [1]. - The company secured new projects valued at approximately 330 million yuan and generated revenue of 51.62 million yuan from new products [4][5]. Project and Product Development - The recent acquisition of new projects and the mass production of new products lay a solid foundation for the company's future capacity layout and market share enhancement [1][4]. - The company completed a convertible bond issuance of 308 million yuan, with the funds primarily allocated for the expansion project at the Nantong production base, focusing on capacity expansion and technological upgrades [2][3]. Market Opportunities - The global automotive industry is undergoing transformation, presenting market opportunities for automotive parts companies like Kaizhong, which specializes in chassis suspension system shock-absorbing components and lightweight pedal assemblies [2][5]. - Kaizhong's shock-absorbing components and lightweight pedal products are applicable in both new energy vehicles and traditional fuel vehicles, catering to the evolving demands of automotive manufacturers [2][4]. Production Capacity and Technological Upgrades - The Nantong production expansion project aims to achieve an annual production capacity of 27 million polyurethane shock-absorbing components and 3.5 million lightweight pedal assemblies, with automation and information technology upgrades to optimize production processes [3]. - The project includes specific production capacities for non-contact floor accelerator pedals and line-controlled brake pedals, which are critical development directions in the lightweight pedal sector [3]. R&D and International Expansion - The company continues to invest in polyurethane material research, exploring applications in new energy vehicles and energy storage systems, leading to new project orders from major domestic battery companies [5]. - Kaizhong has established international partnerships with renowned automotive manufacturers and has set up subsidiaries in Mexico, the USA, Europe, and Morocco, with a representative office in Japan [5].