登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：600178 证券简称：东安动力 编号：临2025-071 哈尔滨东安汽车动力股份有限公司 关于2025年三季度业绩说明会 召开情况的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性承担法律责任。 哈尔滨东安汽车动力股份有限公司（以下简称"公司"）于2025年11月25日（星期二）在上海证券交易所 上证路演中心（http://roadshow.sseinfo.com/）召开了2025年三季度业绩说明会，现将业绩说明会召开情 况公告如下： 一、2025年三季度业绩说明会召开基本情况 1.会议召开时间：2025年11月25日下午15:00-16:00 2.会议召开地点：上证路演中心 3.会议召开方式：上证路演中心网络互动 4.会议出席情况：公司董事长陈笠宝先生、总会计师王向坤先生、董事会秘书王江华先生、独立董事韩 东平女士出席了业绩说明会，与投资者进行了互动交流和沟通，就投资者关注的问题进行了回复。 董事会秘书王江华答：投资者您好，中国兵器装备集团有限公司实施分立，公司间接控股股东 ...

东安动力（600178）11月25日召开2025年第三季度业绩说明会，公司管理层主要成员与投资者进行交 流。 东安动力拥有自然吸气、增压直喷和新能源增程动力三大发动机产品平台以及手动变速器、自动变速器 和DHT三大变速器产品平台，致力于为高端乘用车、轻型和中型商用车、新能源汽车等提供发动机、 变速器及动力总成一体化解决方案。 该公司制定的2025年经营目标为整机销售60万台，实现营业收入52亿元。 公司此前介绍，目前新能源产品中，增程器主要匹配东风岚图、江淮汽车（600418）等，DHT产品主 要配套郑州日产，正在逐渐上量。公司未来市场主要包括三个方面，即传统市场、出口市场及增程和混 动市场，目标规模各占整体业务三分之一。公司持续加大产品创新及市场开拓力度，正在合作研发转子 发动机。公司2026年挑战整机销量100万台，2027年挑战收入100亿元。 2025年前三季度，公司实现营业收入37.66亿元，归属于上市公司股东的净利润-328.45万元。 东安动力介绍，2025年1月至9月，公司进一步加强市场开拓力度，新市场立项达65项，其中新能源市场 项目16项，同比增长130%，传统市场项目35项，特品市场项目 ...

Core Insights - The 2025 International Conference on Sustainable Development of Airport Economic Zones opened at Daxing Airport, focusing on "Navigating the Future - International Aviation Technology Innovation and New Service Ecosystem" [1][3] Group 1: Integrated Business Licensing - The Daxing Airport Economic Zone issued its first batch of integrated business licenses, allowing new or modified business entities to have their operating locations uniformly marked as "Beijing Daxing International Airport Economic Zone" [3] - A joint "Integrated Registration Platform" was established between Beijing and Hebei, enabling cross-regional business registration and enhancing operational convenience for enterprises [3] Group 2: Major Project Signings - Eight significant projects were signed during the conference, covering industries such as aviation technology, trade logistics, and life sciences, with a total investment of 2.7 billion yuan and the construction of 136,000 square meters of industrial space [5][6] - These projects are expected to generate annual revenues of 11 billion yuan and an import-export trade volume of 10 billion yuan once operational [5] Group 3: New Service Centers and Platforms - The Daxing Airport Economic Zone launched a Clinical Urgent Product Import Service Center to streamline the import process for urgently needed medical products, enhancing service efficiency for high-level medical institutions [8] - An International Cooperation Platform for Oral Medicine was also initiated to promote global collaboration and establish the zone as a key hub for oral medicine enterprises [8] Group 4: High-Quality Development Initiatives - The conference highlighted the high-quality development of the Daxing Airport Economic Zone, emphasizing the strengthening of its functional positioning and the rapid activation of airport radiation effects [10] - Future plans include enhancing hub capabilities, building a modern aviation logistics system, and fostering a collaborative development community to break down administrative barriers [10]

Core Viewpoint - Dong'an Power aims to expand its market presence across three main areas: traditional market, export market, and range extender and hybrid market, with each segment targeting one-third of the overall business [2] Group 1: Future Goals and Market Strategy - The company plans to achieve a total sales volume of 1 million units by 2026 and aims for revenue of 10 billion yuan by 2027 [2] - For 2025, Dong'an Power has set a target of selling 600,000 units and achieving a revenue of 5.2 billion yuan [2] Group 2: Sales Performance - From January to July, the company sold 258,100 engines, representing a year-on-year increase of 23.88%, and sold 97,600 transmissions, which is a significant year-on-year increase of 119% [2] - In the first half of the year, Dong'an Power reported a revenue of 2.479 billion yuan, a year-on-year growth of 25.72%, and a net profit attributable to shareholders of 3.9212 million yuan, recovering from a loss of 6.7898 million yuan in the same period last year [2] Group 3: Product Development - The company is currently collaborating on the development of rotary engines and is undergoing a technical transformation of its range extender production line, expected to be completed by the end of Q1 next year to meet the growing demand for range extenders [2]

Core Viewpoint - Dong'an Power has shown significant growth in revenue and profitability in the first half of 2025, driven by increased orders for AT transmissions and successful asset transitions following relocation [1][2]. Group 1: Financial Performance - In the first half of 2025, Dong'an Power achieved operating revenue of 2.479 billion yuan, a year-on-year increase of 25.72% [1]. - The company reported a net profit of 3.9212 million yuan, reversing a loss of 6.7898 million yuan in the same period last year [1]. - Basic earnings per share stood at 0.02 yuan [1]. Group 2: Production and Market Position - Dong'an Power's total machine output reached 330,700 units, reflecting a year-on-year growth of 33.95% [2]. - The market share of the gasoline engine sector increased to 2.39%, up by 0.38 percentage points year-on-year [2]. - The company has a current production capacity of 300,000 units at its headquarters and 440,000 units at its subsidiary, with the headquarters operating at a high capacity utilization rate [2]. Group 3: Strategic Goals and Innovations - The company aims to sell 600,000 units and achieve operating revenue of 5.2 billion yuan by 2025 [2]. - Dong'an Power is undergoing technical upgrades to its range extender production line, expected to be completed by the end of Q1 next year to meet growing demand [3]. - Future market focus includes traditional markets, export markets, and range extender and hybrid markets, each targeting one-third of overall business [3].

Core Viewpoint - Harbin Dong'an Automotive Power Co., Ltd. reported a significant revenue increase but remains reliant on non-operating income for profitability, raising concerns about the sustainability of its financial performance [3][5][7]. Financial Performance - The company achieved a total revenue of 2.479 billion yuan, a year-on-year increase of 25.72% [3][4]. - The net profit attributable to shareholders was 3.9212 million yuan, a turnaround from a loss of 6.7898 million yuan in the same period last year [3][5]. - However, the net profit excluding non-recurring items showed a deeper loss, widening from 48.1724 million yuan to 61.1340 million yuan [3][5]. Cost and Margin Analysis - The gross margin decreased to 2.33%, down 3.19 percentage points from the previous year, indicating pressure on profitability despite revenue growth [4][7]. - Operating costs increased by 28.85%, outpacing revenue growth, which suggests a potential strategy of sacrificing margin for volume [4][5]. Cash Flow and Inventory - The net cash flow from operating activities was -492 million yuan, worsening from -186 million yuan year-on-year, indicating increasing cash flow pressure [5][6]. - Inventory rose to 1.012 billion yuan from 671 million yuan at the end of the previous year, reflecting increased capital tied up in stock due to expanded sales [5][6]. Market Position and Product Development - The company’s market share in gasoline engines increased from 2.01% to 2.39%, a rise of 0.38 percentage points [4]. - Dong'an Power is actively pursuing product and market transformation, with 285 new product development projects underway, including 28 in the new energy sector [5][6]. Legal and Corporate Governance Issues - The company is facing a patent lawsuit from ZF involving significant products, with a claim amounting to 54 million yuan [6]. - In July, the company canceled the third tranche of restricted stock due to unmet performance targets and staff turnover [6]. Future Outlook - The reliance on non-operating income raises questions about the sustainability of the company's profitability, especially as core business profitability remains weak [7]. - The ability to balance investment in new energy projects with financial stability will be crucial for the company's future success [7].

Core Insights - Dong'an Power reported a significant increase in revenue and profitability for the first half of 2025, with operating income reaching 2.479 billion yuan, a year-on-year growth of 25.72%, and a net profit of 3.9212 million yuan, reversing a loss from the previous year [1][2] Group 1: Financial Performance - The company achieved a basic earnings per share of 0.02 yuan [1] - The net profit turnaround was primarily driven by increased orders for automatic transmissions, leading to substantial growth in both revenue and gross profit [2] - Dong'an Power's total machine output reached 330,700 units, reflecting a year-on-year increase of 33.95% [2] Group 2: Product and Market Development - Dong'an Power maintains a comprehensive supply advantage in the commercial vehicle market, covering engine displacements from 1.5L to 2.5L, solidifying its position as a market leader [2] - The company is the sole manufacturing base for Changan Automobile's high-end passenger car engines (2.0L and above) [2] - Dong'an Power has initiated a rotor engine platform focused on the low-altitude economy and has established a partnership with AVL [3] - The company has successfully completed performance verification for the DASP1200 high-torque transmission platform [3] Group 3: Market Expansion - Dong'an Power has secured 60 new market project designations, including 14 in the new energy sector, and has developed 11 new key customers [3] - The projected sales volume for new market projects is estimated at 3 million units [3]

Core Viewpoint - Dong'an Power reported a significant turnaround in its financial performance for the first half of 2025, achieving a revenue of 2.479 billion yuan, a year-on-year increase of 25.72%, and a net profit of 3.9212 million yuan, compared to a loss of 6.7898 million yuan in the same period last year [2][3] Group 1: Financial Performance - The company achieved a revenue of 2.479 billion yuan in the first half of 2025, reflecting a year-on-year growth of 25.72% [2] - The net profit for the first half of 2025 was 3.9212 million yuan, marking a turnaround from a loss of 6.7898 million yuan in the previous year [2] - Basic earnings per share were reported at 0.02 yuan [2] Group 2: Product and Market Development - Dong'an Power has three major engine product platforms: naturally aspirated, turbocharged direct injection, and new energy range-extended power [2] - The company has a comprehensive supply advantage in the commercial vehicle market, covering engine displacement from 1.5L to 2.5L, establishing itself as a market leader [2] - The company is the sole manufacturing base for Changan Automobile's high-end passenger car engines (2.0L and above) [2] Group 3: Production and Market Expansion - The total production volume for the first half of 2025 reached 330,700 units, a year-on-year increase of 33.95% [3] - Dong'an Power's market share in the gasoline engine industry increased to 2.39%, up by 0.38 percentage points year-on-year [3] - The company has initiated projects focusing on low-altitude economy and has established partnerships for new product development, including a new 2.0L turbocharged direct injection engine with Changan Automobile [3]

Core Viewpoint - Dong'an Power reported significant growth in revenue and profitability for the first half of 2025, indicating a successful turnaround and strong market positioning in the automotive powertrain sector [1][2]. Group 1: Financial Performance - In the first half of 2025, Dong'an Power achieved operating revenue of 2.479 billion yuan, a year-on-year increase of 25.72% [1]. - The company reported a net profit of 3.9212 million yuan, reversing a loss of 6.7898 million yuan in the same period last year [1]. - Basic earnings per share were 0.02 yuan, reflecting improved financial health [1]. Group 2: Product and Market Positioning - Dong'an Power offers three major engine product platforms: naturally aspirated, turbocharged direct injection, and new energy range-extended power systems, along with three transmission product platforms [1]. - The company has established itself as a dominant player in the commercial vehicle market, covering engine displacements from 1.5L to 2.5L [2]. - Dong'an Power is the sole manufacturing base for Changan Automobile's high-end passenger car engines (2.0L and above) [2]. Group 3: Production and Market Expansion - The total production volume for Dong'an Power reached 330,700 units in the first half of 2025, representing a year-on-year increase of 33.95% [2]. - The company has a market share of 2.39% in the gasoline engine sector, an increase of 0.38 percentage points compared to the previous year [2]. - Dong'an Power has initiated 60 new market projects, including 14 in the new energy sector, with a projected lifecycle sales volume of 3 million units [3]. Group 4: Future Goals and Innovations - The company aims to sell 600,000 units and achieve operating revenue of 5.2 billion yuan in 2025 [3]. - Future market strategies include focusing on traditional markets, export markets, and range-extended and hybrid markets, each targeting one-third of overall business [3]. - Dong'an Power is actively pursuing product innovation, including the development of a rotor engine in collaboration with AVL [3].

Core Insights - Dong'an Power achieved significant growth in engine production and sales in the first half of the year, with production reaching 330,721 units, a year-on-year increase of 33.95%, and sales totaling 311,624 units, up 45.44% [1] - The company has focused on cost reduction and innovation to navigate the challenging external environment and intense competition in the automotive industry, successfully reducing costs by over 100 million yuan [1][3] - Dong'an Power has developed a new market development model that emphasizes proactive market guidance and innovative pricing management, resulting in a 173% increase in new market project acquisitions [3] Production and Innovation - The company launched a rotor engine project in collaboration with AVL and signed a strategic cooperation agreement with XPeng Huitian, a leading flying car company [5] - A total of 285 new product projects were advanced in the first half of the year, including 21 platform development projects and 217 automotive engine matching projects [5] Reform and Development - As a state-owned enterprise, Dong'an Power is committed to reform and enhancing core competitiveness, focusing on technological innovation and industry control [8] - The company is implementing a comprehensive reform plan with a completion rate of 93% for its action items, which cover technology research and development, management optimization, and industry chain collaboration [10]