截至9月30日，中策橡胶股东户数3.83万，较上期减少46.47%；人均流通股2217股，较上期增加 86.82%。2025年1月-9月，中策橡胶实现营业收入336.83亿元，同比增长14.98%；归母净利润35.13亿 元，同比增长9.30%。 分红方面，中策橡胶A股上市后累计派现11.37亿元。 2月9日，中策橡胶跌0.29%，成交额1.43亿元。两融数据显示，当日中策橡胶获融资买入额1057.69万 元，融资偿还1469.64万元，融资净买入-411.95万元。截至2月9日，中策橡胶融资融券余额合计2.31亿 元。 融资方面，中策橡胶当日融资买入1057.69万元。当前融资余额2.31亿元，占流通市值的4.79%。 融券方面，中策橡胶2月9日融券偿还0.00股，融券卖出0.00股，按当日收盘价计算，卖出金额0.00元； 融券余量800.00股，融券余额4.42万元。 资料显示，中策橡胶集团股份有限公司位于浙江省杭州市钱塘区1号大街1号，成立日期1992年6月12 日，上市日期2025年6月5日，公司主营业务涉及轮胎、橡胶制品的加工、制造。 机构持仓方面，截止2025年9月30日，中策橡胶十大流通股东中， ...

证券日报网讯2月9日，中策橡胶（603049）在互动平台回答投资者提问时表示，公司始终重视股东回 报，但公司股价受多方面因素影响。公司将继续努力做好企业经营与市值管理工作，致力于实行持续、 稳定的利润分配政策，力争以良好的经营业绩，回报投资者的关注与信任。 ...

中信建投证券股份有限公司 二、对现场检查事项逐项发表的意见 （一）公司治理和内部控制情况、股东会、董事会运作情况 现场检查人员查阅了中策橡胶的公司章程、公司治理主要制度、股东会、董 事会、监事会和董事会专门委员会的全套会议资料、公司内部控制相关制度、 内部审计制度、内审部门的文件资料及审计委员会的履职情况报告等。 2 关于中策橡胶集团股份有限公司2025年度现场检查报告 根据中国证监会《证券发行上市保荐业务管理办法》（以下简称《保荐办法》） 和《上海证券交易所上市公司自律监管指引第11号——持续督导》等有关法律法 规的要求，中信建投证券股份有限公司（以下简称"中信建投""保荐人"）作为 中策橡胶集团股份有限公司（以下简称"中策橡胶"或"公司"）首次公开发行 股票并在上交所主板上市的保荐人，于2026年2月6日对中策橡胶集团股份有限公 司2025年度有关情况进行了现场检查。 一、本次现场检查的基本情况 中信建投针对中策橡胶的实际情况制订了中策橡胶2025年度持续督导现 场检查工作计划。为顺利实施本次现场工作，提高现场工作效率，切实履行持 续督导工作，中信建投证券提前将现场检查事宜通知中策橡胶，并要求公司提 前准 ...

Investment Rating - The report assigns a rating of "Buy" to the company with a target price of 66.13 CNY [4][18]. Core Insights - The company is one of the largest tire manufacturers in China, with ongoing capacity expansion for its main products [2][21]. - The global automotive ownership is on a long-term growth trend, which is expected to drive the tire industry market size upward. The global radial tire market is projected to grow from 1.586 billion units in 2020 to 1.856 billion units by 2024, with a compound annual growth rate (CAGR) of 5.38% [12][21]. - The company has a diverse product range, including radial tires, bias tires, and specialty tires, and is recognized as a national high-tech enterprise [12][22]. - The company is expanding its production capacity, with a total capacity of 21.462 million tires and an output of 19.12989 million tires in 2023 [23]. Financial Summary - The company’s total revenue is projected to grow from 35.252 billion CNY in 2023 to 51.035 billion CNY by 2027, reflecting a growth rate of 10.5% in 2023 and 6.3% in 2027 [11][16]. - Net profit attributable to the parent company is expected to increase significantly from 2.638 billion CNY in 2023 to 5.524 billion CNY in 2027, with a notable growth of 115.4% in 2024 [11][16]. - Earnings per share (EPS) are forecasted to be 3.02 CNY in 2023, rising to 6.32 CNY by 2027 [11][17]. Market Position - The company has established a strong presence in both domestic and international markets, exporting to Europe, North America, Africa, Southeast Asia, and the Middle East [12][22]. - The company is increasingly becoming a preferred supplier for mid-to-high-end vehicles, benefiting from the rapid development of the automotive industry in China [21][22]. - The company is investing in projects to enhance its production capabilities, including a green digital factory and new production lines for high-performance tires [23].

Investment Rating - The report assigns a rating of "Buy" to the company with a target price of 66.13 CNY [4][18]. Core Insights - The company is one of the largest tire manufacturers in China, with ongoing capacity expansion for its main products [2][21]. - The global automotive ownership is on a long-term growth trend, which is expected to drive the tire industry market size upward. The global radial tire market is projected to grow from 1.586 billion units in 2020 to 1.856 billion units by 2024, with a compound annual growth rate (CAGR) of 5.38% [12][21]. - The company has a diverse product range, including radial tires, bias tires, and various other tire products, and is recognized as a national high-tech enterprise [12][22]. - The company is expanding its production capacity, with a total capacity of 21.462 million tires and an output of 19.12989 million tires in 2023 [23]. Financial Summary - The company’s total revenue is projected to grow from 35.252 billion CNY in 2023 to 51.035 billion CNY by 2027, reflecting a growth rate of 10.5% in 2023 and 6.3% in 2027 [11][16]. - Net profit attributable to the parent company is expected to increase significantly from 2.638 billion CNY in 2023 to 5.524 billion CNY in 2027, with a notable growth of 115.4% in 2024 [11][16]. - Earnings per share (EPS) are forecasted to be 4.86 CNY in 2025, 5.75 CNY in 2026, and 6.32 CNY in 2027 [12][17]. Market Position - The company has established a strong presence both domestically and internationally, exporting to various regions including Europe, North America, Africa, Southeast Asia, and the Middle East [12][22]. - The company is increasingly becoming a preferred supplier for mid-to-high-end vehicles, benefiting from the rapid development of the automotive industry in China [21][22]. - The company is investing in projects to enhance its production capabilities, including a green digital factory for high-performance tires and expansion projects in Thailand [23].

会议助理 1: 本会议信息仅供参考，不代表任何投资建议。 杨旭 中泰证券汽车分析师: 好的，各各位投资者，大家晚晚上好。我是中泰汽车分析师唐素，然后今天晚上的话，我 这边就主要是会进行轮胎的一个系列底底部个股的一个提示。那今天晚上的话我们是合计 会进行三个个股的提示，包括中策、赛轮和海安。那当前的话，我先对这个中测的情况进 行一个重点的介绍。那首先的话，从今天整体的一个汇报内容的来看的话，大家可以看， 就是基于我的这个展示的框架 p 框架 PPT，然后我整体的话还是从行业和个股的两两块， 对整个行业一些核心的关注点。 然后从这个业绩和估值两块，我还是，就是简单的把一些核心的要点进行一个介绍吧，首 先从业绩端来看的话，其实核心的话目前我们简单的就可以去理解成这个放量和利润率提 升两块。然后从第一块这个出海放量来看，那其实也是大家非常熟悉的一个，这个轮胎的 主旋律。那出海一直是大家这个轮胎非常重要的这个驱动力。那从 26 年去看，那其实这 个海外的这个空间就是核心还是来源于海外的一个空间，非常大。那中国的轮胎在海外的 这个市占率是小于百百 20%，那基于这样的一个背景下，那我们系列的头胎起其实在 26 年还是出海 ...

证券日报网讯 1月28日，中策橡胶在互动平台回答投资者提问时表示，公司中策金坛项目正在有序推进 中，具体情况请关注公司定期报告等相关公告。 （文章来源：证券日报） ...

内容概况：根据国家标准《绿色产品评价 轮胎（GB/T 40718-2021）》，绿色轮胎是指在全生命周期过 程中，符合环境保护要求，对生态环境和人体健康无害或危害小、资源能源消耗少、品质高的轮胎产 品。发展绿色轮胎，不仅可以降低汽车排放量，助力解决废旧轮胎污染治理，还可以降低资源依赖与供 应链风险，进一步强化供应链的抗风险能力。近年来，我国绿色轮胎需求呈现快速增长态势，2023年销 售量突破亿条，2024年增长至1.38亿条，2025年突破1.6亿条。市场持续增长是政策、市场、技术、环 境、贸易等多个因素协同作用的结果，其中政策大力推动和新能源汽车爆发是两大核心引擎，而技术进 步和消费者意识觉醒则为需求增长提供了可持续动力。绿色轮胎渗透率明显提升，2024年销售占比已经 达到23%，相较2020年增长8个百分点。同时，生物基香蕉、二氧化硅等环保原材料需求逐渐提高，环 保属性成为品牌溢价的新支点。随着全球绿色转型加速和国际贸易规则趋严，绿色轮胎将从"可选产 品"变为"必选产品"，市场需求将进一步增长。截至2025年末，我国绿色轮胎产品有效认证数量为18 个，涉及住友橡胶(常熟)有限公司、中策橡胶集团股份有限公司 ...

Core Viewpoint - Solid growth in core business is essential for companies to navigate through economic cycles [1] Performance Growth Highlights - **XianDao Intelligent (300450)**: Expected net profit of 150 million to 180 million, a year-on-year increase of 424.29% to 529.15% due to recovery in global battery demand and internal digital transformation [6] - **YongChuang Intelligent (603901)**: Expected net profit of 12.8 million to 15.5 million, a year-on-year increase of 721.57% to 894.86% driven by improved delivery efficiency and product structure optimization [7] - **DaoShi Technology (300409)**: Expected net profit growth of 206.01% to 269.76% due to increased production capacity and recovery in cobalt prices [8] - **FuDa Alloy (603049)**: Expected net profit growth of 119.14% to 219.95% supported by stable demand in power equipment and new energy sectors [9] - **ZhaoJin Gold (000506)**: Expected net profit of 12.2 million to 18.2 million, a turnaround from a loss of 127 million last year, driven by increased production and rising gold prices [10] - **SiTeWei (688213)**: Expected net profit of 97.635 million to 103.053 million, a year-on-year increase of 149% to 162% due to increased shipments of smartphone camera products [11] - **ZhongWei Semiconductor (688380)**: Expected net profit of around 28.4 million, a year-on-year increase of approximately 107.55% due to new product launches [12] - **Hunan Gold (002155)**: Expected net profit of 127 million to 160.8 million, a year-on-year increase of 50% to 90% driven by rising sales prices [13] - **NanFang Precision (002553)**: Expected net profit of 30 million to 37 million, a year-on-year increase of 1,130% to 1,417% due to investment project evaluations [14] - **Shanghai YiZhong (688091)**: Expected net profit of 6 million to 7 million, a year-on-year increase of 760.18% to 903.54% due to inclusion in the national medical insurance directory [15] - **RunTu Co., Ltd. (002440)**: Expected net profit of 60 million to 70 million, a year-on-year increase of 181.05% to 227.89% driven by improved operating profits [16] Major Performance Changes - **HeFu China (603122)**: Expected net loss of 36 million to 25 million, a shift from profit due to changes in the macro environment and industry policies [17] - **ChangJiu Logistics (603569)**: Expected net loss of 75 million to 50 million, a shift from profit due to asset impairment and operational challenges [18] - **ZhiChun Technology (603690)**: Expected net loss of 45 million to 30 million, a shift from profit due to increased competition and rising R&D costs [19] - **BaYi Steel (600581)**: Expected net loss of 205 million to 185 million, a shift from profit due to supply-demand imbalance in the steel industry [20] - **AoKeMa (600336)**: Expected net loss of 22 million to 17 million, a shift from profit due to increased competition in the home appliance sector [21] - **HuiDa Sanitary Ware (603385)**: Expected net loss of 21.6 million to 18 million, a shift from profit due to market demand decline [22] - **DongFeng Co. (600006)**: Expected net loss of 48 million to 39 million, a shift from profit due to competitive pressures in the commercial vehicle market [23] Industry Trend Analysis - **High Growth Industries**: Stable demand in new energy sectors benefits companies like FuDa Alloy [24] - **Performance Changes in Industries**: - New energy and lithium battery equipment sectors are experiencing explosive growth [25] - Gold and precious metals sectors are seeing significant profit improvements due to high prices [26] - Semiconductor and automotive electronics are benefiting from trends in smart vehicles [27] - Medical circulation is under pressure from cost control policies [28] - Logistics and transportation are facing profitability challenges due to falling prices [29] - Semiconductor equipment is experiencing short-term performance declines due to cyclical fluctuations [30] - Traditional manufacturing sectors like steel and home appliances are facing intensified competition [31]

Core Viewpoint - Zhongce Rubber experienced a stock price increase of 5.58% on January 19, with a trading volume of 560 million yuan, indicating positive market sentiment towards the company [1]. Financing Summary - On January 19, Zhongce Rubber had a financing buy amount of 32.25 million yuan and a financing repayment of 44.62 million yuan, resulting in a net financing outflow of 12.37 million yuan [1]. - As of January 19, the total financing and securities lending balance for Zhongce Rubber was 248 million yuan, which represents 4.88% of its circulating market value [1]. - The company had no shares repaid in securities lending on January 19, with 200 shares sold, amounting to 11,600 yuan at the closing price, and a remaining securities lending balance of 6,390 yuan [1]. Company Performance - Zhongce Rubber reported a revenue of 33.683 billion yuan for the period from January to September 2025, reflecting a year-on-year growth of 14.98% [1]. - The net profit attributable to shareholders for the same period was 3.513 billion yuan, showing a year-on-year increase of 9.30% [1]. - As of September 30, 2025, the number of shareholders for Zhongce Rubber was 38,300, a decrease of 46.47% compared to the previous period, while the average circulating shares per person increased by 86.82% to 2,217 shares [1]. Dividend Information - Since its A-share listing, Zhongce Rubber has distributed a total of 1.137 billion yuan in dividends [2]. Institutional Holdings - As of September 30, 2025, the seventh largest circulating shareholder of Zhongce Rubber was the Xingquan Trend Investment Mixed Fund (LOF), which holds 856,200 shares as a new shareholder [2].