昆山沪光汽车电器股份有限公司关于 全资子公司使用闲置自有资金委托理财的进展公告 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、准确性和完整性依法承担法律责任。 证券代码：605333 证券简称：沪光股份 公告编号：2026-004 重要内容提示： 委托理财的基本情况： | 产品名称 | 交通银行蕴通财富定期型结构性存款 15 | | | | | | | | 天（挂钩汇率看涨） | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 受托方名称 | 交通银行股份有限公司重庆市分行 | | | | | | | | | | 投资种类 | 结构性存款 | | | | | | | | | | 购买金额 | 2,500 万元人民币 | | | | | | | | | | 产品期限 | 2026 2 日—2026 日 | 年 | 9 | 年 | 2 | 月 | 24 | 月 | | | 产品名称 | 交通银行蕴通财富定期型结构性存款 38 天（挂钩汇率看跌） | | --- | --- | | ...

Investment Rating - The industry investment rating is Neutral (maintained) [6] Core Insights - The upcoming release of Tesla's Optimus V3 is expected to catalyze the industry, with a focus on companies involved in the humanoid robot supply chain and those with significant advancements in autonomous driving technology [9] - The demand for gas turbines and generator sets is anticipated to surge due to increased overseas data center construction, benefiting companies in the gas turbine and robotics supply chains [9] - Companies with strong alpha characteristics in the automotive and parts sector are expected to withstand industry risks and achieve revenue and profit growth [3] Summary by Sections Investment Recommendations and Targets - Strong alpha automotive and parts companies are expected to resist industry risks and achieve revenue and profit growth; focus on advanced autonomous driving supply chains, data center liquid cooling, and gas turbine industries [3] - Suggested companies to watch include: - Humanoid robot-related: Xinquan Co., Ltd. (603179, Buy), Top Group (601689, Buy), Yinlun Co., Ltd. (002126, Buy), and others [4] - Gas turbine-related: Yinlun Co., Ltd. (002126, Buy) [4] - Liquid cooling-related: Yingweike (002837, Not Rated), Yinlun Co., Ltd. (002126, Buy), Top Group (601689, Buy), and others [4] - Autonomous driving-related: Jingwei Hengrun-W (688326, Buy), Bertley (603596, Buy), Desay SV (002920, Buy) [4]

Core Viewpoint - The Chinese electric vehicle (EV) high-voltage component industry has transitioned from policy-driven to market-driven growth, with increasing consumer acceptance of pure electric and hybrid models, leading to a significant expansion in production and sales, and a surge in demand for high-voltage components [1][10]. Industry Overview - The high-voltage system in EVs is crucial for energy storage, conversion, transmission, and usage, operating at hundreds of volts, which distinguishes EVs from traditional fuel vehicles [2]. - High-voltage components are essential for the efficient operation of EVs, enabling energy management and enhancing overall performance [4]. Market Size and Growth - By 2025, the market size of China's high-voltage component industry is projected to reach 311.66 billion yuan, representing a year-on-year growth of 26.5%, capturing 49.32% of the global market share [1][10]. - In the first nine months of 2025, China's production and sales of new energy vehicles reached 11.24 million and 11.23 million units, respectively, with a year-on-year growth of 35.2% and 34.9% [8]. Industry Barriers - The high-voltage component industry faces significant technical barriers, requiring precise design, programming skills, and a deep understanding of system logic to ensure performance, reliability, and safety [5][6]. Market Policies - The Chinese government has implemented various policies to support the development of the automotive parts industry, including high-voltage components, creating a favorable environment for growth [6]. Industry Chain - The upstream of the high-voltage component industry includes suppliers of raw materials like copper, aluminum, and rare earths, while the downstream consists of EV manufacturers and the aftermarket, which is seeing increased demand as early EVs enter replacement cycles [7][8]. Competitive Landscape - The industry is characterized by a fragmented market with numerous players focusing on specific segments. Key companies include Xinrui Technology, Zhonghang Optoelectronics, BYD Semiconductor, and Futec Technology [10][11]. Development Trends - The industry is expected to see a shift towards higher voltage and efficiency, with wide bandgap semiconductor materials playing a crucial role in enhancing energy conversion efficiency [14]. - There will be a trend towards system integration and modularization, aiming for lightweight designs and cost control [14]. - Collaboration within the supply chain will deepen, with a focus on localizing key materials and components to build a self-sufficient supply chain [15].

Core Viewpoint - The company, Kunshan Huguang Automotive Electric Co., Ltd., is utilizing idle self-owned funds from its wholly-owned subsidiary, Chongqing Huguang Automotive Electric Co., Ltd., to invest in low-risk financial products to enhance the efficiency of fund usage while ensuring operational liquidity [2][3]. Group 1: Overview of Entrusted Wealth Management - The purpose of the entrusted wealth management is to improve the efficiency of idle funds while ensuring that Chongqing Huguang has sufficient liquidity for normal operations [3]. - The company has approved a maximum amount of 50 million yuan for entrusted wealth management, which can be rolled over within 12 months from the date of shareholder approval [3]. - The total investment amount for this wealth management initiative is 110 million yuan [3][5]. Group 2: Progress and Risk Situation - Chongqing Huguang has invested 110 million yuan in wealth management products from China Communications Bank and China Merchants Bank, ensuring that the funds used are idle and do not affect operational liquidity [5][8]. - The purchased financial products are categorized as medium to low-risk, aimed at enhancing the efficiency and returns of idle funds [5][6]. Group 3: Risk Control Measures - Chongqing Huguang will adhere to prudent investment principles and operate within the approved limits, ensuring compliance with management regulations and contractual agreements [7]. - The company will continuously monitor financial market changes and assess potential risks associated with the investment products [7]. - A financial ledger will be established to manage the purchased financial products, and independent directors will have the authority to supervise fund usage [7]. Group 4: Impact on the Company - The investment in financial products is expected to improve the efficiency of idle funds and generate certain investment returns without adversely affecting the company's operations or harming the interests of shareholders [8].

证券代码：605333 证券简称：沪光股份 公告编号：2026-003 昆山沪光汽车电器股份有限公司关于 全资子公司使用闲置自有资金委托理财的进展公告 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、准确性和完整性依法承担法律责任。 重要内容提示： 委托理财的基本情况： | 产品名称 | 交通银行蕴通财富定期型结构性存款 35 | | | | | | | 天（挂钩汇率看跌） | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 受托方名称 | 交通银行股份有限公司重庆市分行 | | | | | | | | | 投资种类 | 结构性存款 | | | | | | | | | 购买金额 | 0.80 亿元人民币 | | | | | | | | | 产品期限 | 2026 1 22 日—2026 日 | 年 | 月 | 年 | 2 | 月 | 26 | | | 产品名称 | 招商银行点金系列看涨两层区间 35 天结构性存款（产品代码 ： | | --- | --- | | | NCQ02651） | ...

Core Viewpoint - The company has implemented measures to mitigate the risks associated with fluctuations in raw material prices, particularly copper prices, by adjusting product prices and utilizing price compensation mechanisms with customers and suppliers [1] Group 1: Risk Management - The company has adopted strategies such as copper price compensation and product price adjustments to counteract the impact of copper price volatility on costs [1] - Collaborations with suppliers to implement copper price compensation in settlements help to alleviate cost pressures from copper price fluctuations [1] Group 2: Technological Innovation - The company is focused on breakthroughs in core technologies and exploring cutting-edge technologies to establish a self-controlled core competitiveness [1] - The newly developed metal composite wire addresses issues related to the weight and high cost of traditional copper wires, as well as the limitations of aluminum wire applications [1] - The company aims to strengthen its technology research and innovation, gather global intelligence, overcome key technological bottlenecks, and accelerate the transformation of scientific achievements to become a leader in industry technological innovation [1]

Core Viewpoint - The company is establishing a subsidiary in Germany and a production base in Romania to provide localized services for clients such as Volkswagen, Daimler, and Audi, aiming to enhance responsiveness to European customer demands [1] Group 1: International Expansion - The establishment of the European production base is a critical step for the company in transitioning from a "Chinese supplier" to a "global supplier," which will significantly enhance its competitiveness and brand influence in the international market [1] - Currently, overseas sales account for approximately 2% of the company's total revenue [1] Group 2: Business Development - The company is actively expanding its overseas business and has made new progress and breakthroughs in the BMW project [1] - Future plans include a more proactive approach to overseas cooperation, aiming to build a more comprehensive global business network and strategic layout [1]

证券代码：605333 证券简称：沪光股份 公告编号：2026-002 昆山沪光汽车电器股份有限公司 关于全资子公司使用闲置自有资金委托理财 产品到期赎回的公告 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、准确性和完整性依法承担法律责任。 重要内容提示： 基本情况 | 产品名称 | 交通银行蕴通财富定期型结构性存款 67 天 | | --- | --- | | 受托方名称 | 交通银行股份有限公司重庆市分行 | | 购买金额 | 0.80 亿元人民币 | | 赎回金额 | 0.80 亿元人民币 | | 产品期限 | 2025 年 11 月 14 日—2026 年 1 月 20 日 | | 特别风险提示 （如有请勾选） | 其他：无 | | 产品名称 | 共赢智信黄金挂钩人民币结构性存款 A16916 期 | | --- | --- | | 受托方名称 | 中信银行股份有限公司重庆分行 | | 购买金额 | 0.30 亿元人民币 | | 赎回金额 | 0.30 亿元人民币 | | 产品期限 | 2025 年 11 月 14 日—2026 年 1 月 20 ...

Group 1: Satellite Industry Overview - The satellite internal structure is divided into satellite platforms and payloads, with platforms providing necessary support for payloads to achieve mission objectives[4] - Effective payloads are the instruments and systems that perform specific tasks on satellites, primarily including antenna subsystems and transponder subsystems for communication satellites[5] - The satellite attitude control system consists of sensors, controllers, and actuators to maintain the satellite's orientation and stability[24] Group 2: Investment Opportunities - Key beneficiaries in the satellite industry include companies involved in attitude control (e.g., Tianyin Electromechanical, Aerospace Zhizhuang) and TR components (e.g., Zhenlei Technology, Chengchang Technology)[5] - The market performance of small-cap indices like the CSI 1000 and CSI 500 has outperformed large-cap indices such as the SSE 50 and CSI 300 this week[6] - New shares listed this week include 1 company on A-shares and 6 companies on the Hong Kong Stock Exchange, indicating a vibrant IPO market[6] Group 3: Market Trends and Recommendations - The report highlights investment themes in smart vehicles and high-end manufacturing, recommending stocks such as Hu Guang Co., Ruihu Mould, and Aopute[7] - The satellite industry is expected to benefit from advancements in low-orbit satellite payloads, particularly in transponders and phased array antennas, which are crucial for communication satellites[70] - The cost structure of low-orbit communication satellites shows that payloads account for approximately 75% of costs, with antennas and TR components being the major contributors[51]

Group 1 - The core point of the news is that Hu Guang Co., Ltd. experienced a 5% increase in stock price, reaching 32.54 yuan per share, with a trading volume of 284 million yuan and a turnover rate of 2.08%, resulting in a total market capitalization of 15.1 billion yuan [1] - Hu Guang Co., Ltd. is located in Kunshan, Jiangsu Province, and was established on March 31, 1997. The company was listed on August 18, 2020, and its main business involves the research, production, and sales of automotive high and low voltage wire harnesses [1] - The revenue composition of Hu Guang Co., Ltd. is primarily from automotive wire harnesses, accounting for 95.88%, while automotive parts and others contribute 4.12% [1] Group 2 - From the perspective of major fund holdings, one fund under Nord Fund has a significant position in Hu Guang Co., Ltd. The Nord New Energy A Fund (014829) held 30,000 shares in the third quarter, representing 4% of the fund's net value, making it the fourth-largest holding [2] - The Nord New Energy A Fund was established on March 31, 2022, with a latest scale of 12.5453 million. Year-to-date returns are 2.34%, ranking 4715 out of 8827 in its category, while the one-year return is 48.66%, ranking 2070 out of 8084 [2] - The fund manager of Nord New Energy A is Wang Hengnan, who has a tenure of 7 years and 51 days, with total assets under management of 24.5 million. The best fund return during his tenure is 54.17%, while the worst is -35.81% [2]