常州星宇车灯股份有限公司 2026 年第一次临时股东会 会议材料 会议召开日期：2026 年 1 月 15 日 | 公司 2026 年第一次临时股东会议程 | | 2 | | --- | --- | --- | | 公司 2026 年第一次临时股东会须知 | | 4 | | 公司 2026 | 年第一次临时股东会议案审议及表决方法 5 | | | 议案一、关于公司发行 H | 股股票并在香港联合交易所有限公司上市的议案 6 | | | 议案二、关于公司发行 股股票并在香港联合交易所有限公司上市方案的议案 H | | 7 | | 议案三、关于公司申请转为境外募集股份有限公司的议案 10 | | | | 议案四、关于公司发行 H | 股股票募集资金使用计划的议案 11 | | | 议案五、关于公司发行 H | 股股票前滚存利润分配方案的议案 12 | | | 议案六、关于修订公司章程及相关议事规则的议案 13 | | | | 议案七、关于增选公司非独立董事的议案 14 | | | | 议案八、关于增选公司独立董事的议案 15 | | | | 议案九、关于确定董事角色的议案 | 16 | | | 案）的议案 | 1 ...

Core Viewpoint - The article highlights the recognition of several private enterprises in China for their commitment to employee welfare and job security during challenging economic times, emphasizing the importance of not laying off employees and providing support systems for their growth and well-being [1][2]. Group 1: Employee Commitment and Job Security - Companies like Zhongtian Technology have made a firm commitment to not lay off employees, ensuring job security for over 16,000 staff members, and have established internal talent markets to manage surplus personnel [2][3]. - The practice of "increasing production and salaries while not reducing salaries during downturns" has been adopted by several recognized companies, including Shagang Group and Jiangsu Runhe Software, reinforcing their commitment to employee welfare [2][3]. - These commitments have fostered employee loyalty and creativity, contributing to the companies' growth and stability in employment [3]. Group 2: Employee Development and Training - Award-winning companies prioritize employee training and development, integrating it into their strategic goals to ensure employees can grow and envision a future within the organization [4][5]. - Zhongtian Technology has invested 50 million yuan in a "Future Industry Talent Fund" and offers to cover the tuition fees for returning students, demonstrating a commitment to talent retention and development [5][6]. - Companies have implemented various training programs, including skill competitions and mentorship systems, to continuously enhance employee skills and career prospects [4][6]. Group 3: Employee Welfare and Support - Companies provide various support systems, such as childcare services and housing assistance, to address the needs of employees and their families, enhancing their overall well-being [7][8]. - Initiatives like the "Family Fund" by Daybreak Oriental and the establishment of special funds by companies like Xingyu Car Lights demonstrate a proactive approach to supporting employees facing significant challenges [8]. - The establishment of employee pension plans and other benefits has increased participation significantly, reflecting a commitment to long-term employee satisfaction and stability [8].

Group 1 - The SW auto parts index increased by 2.91% this week, ranking first in the SW automotive sector, with a year-to-date increase of 42.58% since the beginning of 2025 [2][3] - The latest trading day PE (TTM) for the SW auto parts index is at the 79.44% historical percentile, while the PB (LF) is at the 75.50% historical percentile [3] - The robot index rose by 3.73% this week, with a year-to-date increase of 62.08% since the beginning of 2025, outperforming the SW auto parts index by 0.83% [2][3] Group 2 - Key companies' weekly changes include Silver Wheel Co., which invested 380 million yuan in Sichuan Silver Wheel for capacity construction of water-cooled plates and front-end modules, expected to reach production capacity by 2029 [3] - Huada Technology announced a mid-term dividend plan for 2025, proposing a cash dividend of 0.15 yuan per share (tax included), totaling 70.46 million yuan [3] - Fuda Co. completed the transfer of 25% equity in Guilin Fuda Alfin for 48 million yuan [3] Group 3 - The top five companies by weekly increase are Xinquan Co. (+14.05%), Beite Technology (+11.64%), Top Group (+8.26%), Daimai Co. (+8.01%), and New Coordinates (+7.97%) [4] - Investment recommendations for auto parts focus on product-oriented companies and those entering high-value sectors, prioritizing potential leaders with production capacity in Europe, North America, and Southeast Asia [4] - For the robotics sector, the focus is on certainty opportunities, with the Optimus V3 expected to launch in Q1 2026, and attention on domestic applications from companies like Xiaopeng, Yushu, and Zhiyuan [4]

Group 1 - The company, Xingyu Co., announced on January 4 that it has repurchased a total of 1.3019 million shares, which accounts for 0.4557% of its total share capital, as of December 31, 2025 [1] - The highest price for the repurchased shares was 125.7 RMB per share, while the lowest price was 121.4 RMB per share [1] - The total amount of funds paid for the repurchase was approximately 161 million RMB [1]

Core Viewpoint - Xingyu Co., Ltd. (601799.SH) announced a share buyback plan, indicating a commitment to enhancing shareholder value through capital management [1] Group 1: Share Buyback Details - The company has repurchased a total of 1.3019 million shares, which represents 0.4557% of its total share capital [1] - The highest price paid for the repurchased shares was 125.70 CNY per share, while the lowest price was 121.40 CNY per share [1] - The total amount spent on the buyback, including transaction fees, was 161.1869 million CNY [1]

证券代码：601799 证券简称：星宇股份 公告编号：2026-001 常州星宇车灯股份有限公司 关于股份回购进展公告 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。 重要内容提示： | 回购方案首次披露日 | 2025/12/11 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 回购方案实施期限 | 2025 年 12 月 | 月 | 10 | 日~2026 | 年 | 12 | 9 日 | | 预计回购金额 | 20,000万元~30,000万元 | | | | | | | | 回购用途 | □减少注册资本 √用于员工持股计划或股权激励 □用于转换公司可转债 | | | | | | | | | □为维护公司价值及股东权益 | | | | | | | | 累计已回购股数 | 130.19万股 | | | | | | | | 累计已回购股数占总股本比例 | 0.4557% | | | | | | | | 累计已回购金额 | 16,118.69万 ...

Investment Rating - The report maintains an "Outperform" rating for the automotive intelligence industry [5][6]. Core Insights - The automotive intelligence sector is witnessing significant advancements, particularly in L3 autonomous driving technology, with multiple companies receiving regulatory approvals for their products [15][19]. - The penetration rates for advanced driver-assistance systems (ADAS) and various sensor technologies are on the rise, indicating a growing market for intelligent vehicles [3][2]. - Key companies in the sector, such as Xpeng Motors, Horizon Robotics, and WeRide, are highlighted for their potential growth and investment opportunities [5][3]. Summary by Sections Industry News - The Ministry of Industry and Information Technology has approved two L3 autonomous driving vehicle models, marking a significant step towards commercialization [15]. - Xpeng Motors has obtained a road testing license for L3 autonomous driving in Guangzhou, while BYD has completed extensive road validation for L3 technology [18][17]. - WeRide's Robotaxi service has expanded to over 10 cities globally, showcasing the commercial viability of autonomous driving technology [20]. High-Frequency Core Data Updates - By October 2025, the penetration rate of 800 million pixel cameras in passenger vehicles is expected to reach 49.7%, a year-on-year increase of 31% [2]. - The market share of lidar technology in passenger vehicles is projected to rise to 14.3%, with significant contributions from companies like Huawei and Hesai Technology [2]. - The penetration rate of L2 and above intelligent driving functions in passenger vehicles has increased to 33%, reflecting a 19% year-on-year growth [3]. Investment Recommendations - Recommended companies for investment include Xpeng Motors, Leap Motor, and Geely for complete vehicles, while WeRide and Horizon Robotics are suggested for L4 technology [3]. - For components, companies like SUTENG and Hesai Technology are recommended for data acquisition, while Horizon Robotics and Black Sesame Intelligence are highlighted for data processing [3].

Core Viewpoint - The National Development and Reform Commission announced the continuation of new car subsidy policies for the next year, with subsidies of 20,000 RMB for new energy vehicles and 15,000 RMB for internal combustion engine vehicles, aligning with Morgan Stanley's expectations [1] Group 1: Policy Impact - The new policy considers vehicle prices, indicating that subsidies for cars priced below 150,000 RMB will decrease year-on-year, while vehicles priced between 150,000 and 200,000 RMB will benefit the most from the incentives [1] - High-end vehicles will not be affected by the adjustments in the subsidy policy [1] Group 2: Company Preferences - Morgan Stanley prefers companies that offer high-end vehicles, such as Li Auto (02015), NIO (09866), and companies collaborating with Huawei, which will also benefit high-end brand agents like Zhongsheng Holdings (00881) [1] Group 3: Market Challenges - Mass market brands are expected to face greater headwinds due to reduced subsidies and a 5% increase in the purchase tax for new energy vehicles [1] Group 4: Supplier Benefits - Suppliers such as Xingyu Automotive (601799.SH), Desay SV (002920.SZ), and Huayang Group (002906.SZ) are believed to benefit from their exposure in the local market [1]

Group 1 - Zijin Mining expects a net profit of approximately 51-52 billion yuan for 2025, representing a year-on-year increase of about 59%-62% due to growth in gold, copper, and silver production and sales prices, along with a significant increase in lithium carbonate production [1] - Tianpu Co. has seen its stock price rise by 718.39% from August 22 to December 30, leading to a suspension for stock trading review due to significant deviation from the company's fundamentals [1] - Salt Lake Co. plans to acquire 51% of Wenkang Salt Lake for 4.605 billion yuan, which will enhance its competitive edge in lithium and potassium resource development [1] Group 2 - Mingde Bio intends to acquire 100% of Wuhan Bikaier Rescue Supplies Co. in a cash transaction, which is expected to constitute a major asset restructuring [2] - Jiamei Packaging has announced that it may apply for a trading suspension if its stock price continues to rise abnormally, despite no significant changes in its fundamentals [2] Group 3 - Jinpan Technology signed a contract worth approximately 696 million yuan for an overseas data center project, which is expected to positively impact the company's long-term performance [3] Group 4 - China Pharmaceutical plans to acquire 70% of Zezheng Pharmaceutical for 525 million yuan [4] - Shengxin Lithium Energy intends to acquire 30% of Qicheng Mining for 2.08 billion yuan to increase its control over Huirong Mining [5] - China Aluminum's subsidiary plans to acquire 51% of Yun Aluminum Logistics for 264 million yuan [5]

Company Announcements - Tianpu Co., Ltd. has seen a cumulative increase of 718.39% in stock price from August 22 to December 30, leading to a suspension for verification starting December 31, 2025 [1] - Dongjie Intelligent has terminated its major asset restructuring plan and will resume trading on December 31, 2025 [2] - Zijin Mining expects a net profit increase of 59%-62% for 2025, with significant increases in the sales prices of gold, copper, and silver [2] - Jinpan Technology signed a contract for an overseas data center project worth approximately 696 million yuan [3] - Yanhai Co., Ltd. plans to acquire 51% of Wenkang Salt Lake for 4.605 billion yuan to enhance its salt lake industry base [5] - Shengxin Lithium Energy intends to acquire 30% of Qicheng Mining for 2.08 billion yuan, which is developing a lithium mine with an annual capacity of 3 million tons [7] - Mingde Bio plans to acquire 100% of Wuhan Bikaier Rescue Supplies Co., Ltd. in a significant asset restructuring [8] - Guotou Zhonglu plans to issue shares to acquire 100% of China Electronics Engineering Design Institute for 6.026 billion yuan [9] - Zhaoxing Co., Ltd. plans to invest 1.53 billion yuan in intelligent robotics and high-precision components for automotive applications [10] Stock Movements - Chaojie Co., Ltd. reported a reduction of 3.00% in shares by its controlling shareholder from November 25 to December 29, 2025 [6] - Five Continents New Spring's third-largest shareholder reduced holdings by 2.73% from November 3 to December 29, 2025 [13] - Zhongju Gaoxin plans to repurchase shares worth 300 million to 600 million yuan for capital reduction [20] Contracts and Projects - Zhejiang Construction signed an 18 billion yuan construction contract for a campus project [23] - Shen Si Electronics won a 199.8 million yuan project for low-altitude flight management services in Jinan [24] - Wangfujing signed a contract for a duty-free project at Beijing Capital International Airport, with a minimum operating fee of 113 million yuan [25] Investments and Financing - Tianyuan Co., Ltd. plans to invest 1.483 billion yuan in a titanium dioxide project [15] - Zhongke Co., Ltd. plans to invest 1.741 billion yuan in an expansion project for lead-zinc mining [16] - Zongheng Co., Ltd. plans to raise up to 548 million yuan for drone systems and AI technology projects [26]