中鼎股份(000887):ANHUI ZHONGDING SEALING PARTS CO.,LTD. ABSTRACT OF THE SEMI-ANNUAL REPORT 2025
AbstractoftheSemi-AnnualReport2025 StockAbbreviation：ZhongdingStock StockCode：000887 August2025 AnhuiZhongdingSealingPartsCo.,Ltd.AbstractoftheSemi-AnnualReport2025AnhuiZhongdingSealingPartsCo.,Ltd.AbstractoftheSemi-AnnualReport2025
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borrowingbusiness ?Applicable N/A ? Changesinthetop10shareholdersandthetop10shareholderswithoutsellingrestrictionduetosecuritieslending/returningtransactionsofrefinancingbusinesscomparedtothepreviousperiod?Applicable ?N/A D. ChangesOfTheControllingShareholderOrTheActualController Changeofthecontrollingshareholderinthereportingperiod □Applicable√N/A TherewasnoanychangeofthecontrollingshareholderoftheCompanyinthereportingperiodChangeoftheactualcontrollerinthereportingperiod □Applicable√N/A TherewasnoanychangeoftheactualcontrolleroftheCompanyinthereportingperiodE. TheTableOfTheTotalNumberOfTheCompany’sPreferredShareholdersAndTheShareholdingAnhuiZhongdingSealingPartsCo.,Ltd.AbstractoftheSemi-AnnualReport2025□Applicable√N/A Thereisnoshareholdingofpreferredshareholdersduringthereportingperiod.F. StatusOfTheBondsExistingOnTheDateOfApprovalOfTheSemi-AnnualReport□Applicable√N/A 3. ImportantItems Thecompanyhasbeencontinuouslyenhancingthecostcontrolandmeticulousmanagementofitsoverseasfactories,andfurtherpromotingtheconstructionofoverseasrawmaterialproductionandmoldmanufacturingbusinesses.Byreducingthemanufacturingcostsofoverseasenterprisesandoptimizingexpensesthroughaseriesof measures, it has accelerated the recovery speed and certainty of overseas business. Through continuous managementimprovement,bothdomesticandoverseasbusinesseshavemaintainedacontinuouslypositivegrowthtrend,andthecompany'soverallprofitshavegraduallyincreased.Basedonyearsofcooperationwithoverseasenterprises, the company has gradually strengthened the strategy of management output and cultural output, strengthenedthecostcontrolofoverseasenterprises,promotedbusinessintegrationandmarketexpansion,andatthesametime,leveragedtheadvantagesoftheChineseengineertalentpooltofurtheracceleratetechnologyabsorptionandinnovation.Intheautomotivefield,thecompanywillcontinuetofocusonthestrategicgoaloftheintelligentchassissystem,drivethecompany'sbusinesstoadvancetowardsintelligence,maintainstablegrowthin traditionalbusinesses,andrapidlydevelopincrementalbusinesses.Atthesametime,thecompanywillactivelypromote the layout in new fields such as humanoid robots, low-altitude economy, AI, data center thermal management,etc.,especiallyfocusingonthehumanoidrobotfieldasthecorestrategicgoalofthecompany.Thecompanycontinuestorankamongthe"Top100GlobalAutomotiveComponentsIndustryCompanies"(ranked87th). 1) IntelligentChassissystembusiness-Airsuspensionsystem a. IntroductionofProducts Comparedwiththetraditionalsteelcarsuspensionsystem,theairsuspensionhasmanyadvantages.Themostimportantpointisthattheelasticcoefficientofthespring,whichisthehardnessofthespring,canbeautomaticallyadjustedaccordingtotheneeds.Dependingonthedifferentroadconditionsandthesignalsfromthedistancesensor,theon-boardcomputerwilldeterminethechangeinthevehicleheight,andthencontroltheaircompressorandexhaustvalvetomakethespringautomaticallycompressorextend,therebyloweringorAnhuiZhongdingSealingPartsCo.,Ltd.AbstractoftheSemi-AnnualReport2025 passabilityincomplexroadconditions.Theairsuspensionsystemenablesacartohavethecomfortofasedan whilealsohavingthehandlingperformanceofanoff-roadvehicle.Theairsuspensionsystemincludesair compressors,controlunits,multi-systemsensors,airsprings,shockabsorbers,etc.b. FutureMarketpotential Withtheadventoftheeraofnewenergyvehicles,thedemandforintelligenceinnewenergycarshasemerged,andatthesametime,theairsuspensionsystemforchassisprotectionisnolongerexclusivetohigh-endmodels.Duetothemuchhigherstabilityrequirementsofthenewenergyvehiclechassissystemcomparedtopurefuelvehicles,theairsuspensionsystemhasgraduallybecomethemainstreamconfigurationfornewenergyvehicleplatforms. Advancedvoiceintelligentsystems,intelligentairsuspensionsystems,andoutstandingautonomousdrivingfunctionsareallthecoreofcurrentautomotiveintelligence.TeslaandnewautomotivebrandssuchasNIO,LiAuto,andXiaoPenghavealsoequippedairsuspensionsystemsandothersuchtechnologiesandintelligentfunctions.Withthefurtherimprovementofairsuspensionsystemtechnologyandtheincreasingrecognitionofownersfortheultimateexperienceofairsuspensionproducts,inthefuture,moreandmorecarswillbeequippedwithairsuspensionsystemstoenhancethesuperiorityandcustomersatisfactionoftheirproducts.Inaddition,apartfrombeingusedinpassengercars,airsuspensionsystemsarealsowidelyadoptedinmostmedium-sizedandabovebusesandlightcommercialvehiclesindevelopedcountries.Heavytrucks,exceptforengineeringvehicles,almostallroadtransportvehiclesuseairsuspension.InChina,since2018,theGB7258"TechnicalConditionsforMotorVehicleOperationSafety"hasrequired:"TherearaxleofdangerousgoodsAnhuiZhongdingSealingPartsCo.,Ltd.AbstractoftheSemi-AnnualReport2025transporttruckswithatotalmassof12,000kgormore,alldangerousgoodstransportsemi-trailers,andthree-axlebox-typeandshed-typesemi-trailersshouldbeequippedwithairsuspension."Theairsuspensionsystemhasgraduallymovedfromthehigh-endtothepopularlevelandwilleventuallybecomeanindispensablepartofautomobiles,especiallyintelligentautomobiles.c. Companyindustrypositionandbusinesspromotion TheGermansubsidiaryAMKofthecompany,asaleadinghigh-endsupplierofairsuspensionsystemsintheindustry,hasbeenatop-threeplayersincethe1990s.Sinceenteringtheairsuspensionsystembusinessinthe1990s, AMKhascontinuouslyimproveditsproductassemblytechnologyandhasbeendeeplyinvolvedintheindustryforovertwodecades,providingcomponentsforworld-classoriginalequipmentmanufacturerssuchasJaguarLandRover, Volvo,Audi,Mercedes-Benz,andBMW.Thedomesticairsuspensionmarketisstillinitsinfancy.AMKChinahasbeenacceleratingthedevelopmentofasupplychainsystemthatoptimizestheperformanceandcostofairsuspensionsystemsintheChinesepassengervehiclemarket.AMKwillcontinuetodevelopsteadilyaroundthestrategicgoalsof"acceleratinglocalization,technologicaliterationandupgrading,andstrengtheningandcompletingtheindustry." AMKChinahasalreadyobtainedordersfromseveralnewcarmakersandleadingdomesticbrandenterprises.ThesubsidiaryDingyuTechnologyofthecompany,relyingonZhongding'scoreadvantagesinrubberresearchandmanufacturing,focusesontheresearchandproductionofairspringsandcontinuouslypushesfortechnologicalbreakthroughs,improvingproductperformance.Currently,airspringsandairstoragetankproductshavebeenawardedprojectcontracts,andthecompany'smagneticfluiddampingsystemprojecthasalreadybeenputintoproductionandisactivelyincontactwithcustomers. Asofnow,thecompany'sdomesticairsuspensionbusinesshasreceivedatotalordervalueofapproximately15.8billionyuan,ofwhichthetotalvalueofassemblyproductsisapproximately1.7billionyuan.Inthefuture,itis expectedtoobtainmoreprojectcontracts. 2) IntelligentChassisSystemBusiness-Lightweightchassissystema. IntroductionofProducts Automobilemetalpartsarewidelyusedinthechassissystemofautomobiles,includingthesteeringsystem,suspensionsystem,brakingsystemanddrivingsystem.Thelightweightingofautomobileshasbecomeawidelyrecognizedconsensusintheautomotivemanufacturingindustry.Thelightweightingofthechassisplaysacrucialroleintheperformanceoftheentirevehicle.Lightweightchassisproductssuchasaluminumalloycontrolarmassemblieshavehighsinglevehiclevalueandarethecorecomponentsforoperationalstabilityandcomfort.AnhuiZhongdingSealingPartsCo.,Ltd.AbstractoftheSemi-AnnualReport2025b. Futuremarketpotential Duetotheneedsofenvironmentalprotectionandenergyconservation,lightweightingofautomobileshasbecomeatrendinthedevelopmentoftheworld'sautomotiveindustry.Automotivelightweightingisnotonlyapplicabletotraditionalfuelvehicles,butalsotonewenergyelectricvehicles.Reducingvehicleweightandachievingvehiclelightweightingareequallyimportant,astheyarerelatedtothemainrangeissueofnewenergyvehicles.Experimentalresultshaveshownthatintermsofaccelerationperformance,ittakesabout10secondsfora1.5-toncartoreachaspeedof60kilometersperhour;Ifyoulose25%weight,itcanbereducedto8seconds. Implementinglightweightingofthechassisyieldsbenefitsintermsoffuelconsumption,handling,andotheraspectsthatfarexceedthoseofothercomponentsofthesameleveloflightweighting.Themassofmostcomponentsonthechassisbelongstotheunsprungmass.Relativelyspeaking,thequalityofthebody(structuralcomponents,reinforcementcomponents,and coverings)belongsto the spring-loadedquality.It isgenerallybelievedthattheeffectivenessofreducingtheweightofthespringunderthesameamplitudeis5-15timesthatofreducingtheweightofthespring.Atthesametime,lightweightingtheunsprungmasshasincreasedtheratioofunsprungmasstounsprungmass,whichisequivalenttoathletesremovingsandbagstiedtotheirlegs.ThisAnhuiZhongdingSealingPartsCo.,Ltd.AbstractoftheSemi-AnnualReport2025c. Companyindustrypositionandbusinesspromotion In recent years, the company has been vigorously developing chassis lightweighting system assemblyproducts. Meanwhile, its subsidiary, Sichuan Wangjin Company, has a core technology of ball head hinge assemblyproducts,whicharethecoresafetycomponentsandperformancepartsofthechassissystemandpossessgloballyleadingtechnologywithaveryhightechnicalthreshold. Asthecompanycontinuouslyadvancesitsbusinessinchassislightweightingsystemassemblyproducts,ithas received orders from multiple traditional and new force vehicle manufacturers such as Mercedes-Benz, Changan,GAC,andBYD.Whilemaintainingthesteadydevelopmentofitsdomesticlightweightbusiness,thecompanyisalsoactivelylayingouttheoverseaslightweightmarket.Currently,thelightweightfactoriesofthecompany in Slovakia and Mexico are under orderly construction. In the first half of 2025, the company's cumulativelightweightbusinessordersreachedapproximately5.5billionyuan.3) TMSsystem a. IntroductionofProducts The German subsidiary of the company, TFH, has been continuously promoting the research andproductionofthermalmanagementpipelineproducts.Basedontheexistingtraditionalthermalmanagementpipelines,thecompanyhasvigorouslydevelopedthebusinessofthetotalassemblyofthermalmanagementpipelinesystemsfornewenergyvehicles,andactivelyexpandedtheapplicationofnewmaterialsinproducts.ThecompanyhasvigorouslydevelopedtheapplicationofnylonpipesandTPVmaterials,andcomparedwiththetraditionalenginepipelinesystems,theapplicationofnewtechnologiescanmaketheproductslighterinweight,lowerincost,moreflexibleinassembly,andatthesametimemaintaingoodNVHandflexibility.TFH,withitsinnovativecapabilitiesandtechnologies,canquicklyrespondtothechangesinhybridandfuelcellvehicles,andactivelycarryoutadvanceddevelopmentprojectswithmultipleOEMcustomers.Atthesametime,thesubsidiaryZhongdingIntelligentThermalSystemisalsoactivelylayingoutthetotalassembly products of temperature control systems in three major fields: new energy vehicles, new energy storage,andsupercomputingcenters.Basedonitsownadvantagesinsystemintegrationandalgorithmstrategies,ithascreatedintelligent,green,andmodularthermalmanagementproducts.AnhuiZhongdingSealingPartsCo.,Ltd.AbstractoftheSemi-AnnualReport2025b. Futuremarketpotential Thetemperaturecontrolrequirementsfornewenergyvehiclebatterymodulesaremuchhigherthanthosefortraditionalvehicles.Atthesametime,withthecompany'sdigestionandabsorptionofTFHpipelineassemblytechnology,thesinglevehiclevalueofthecompany'sfluidpipelineproductshasincreasedfromabout300yuanontraditionalvehiclestonearly1000yuanonnewenergyvehicles,andtheextendedrangenewenergyvehicleshavereachedabout1500yuan.Atthesametime,theautomotivethermalmanagementsystemassemblywillreachasinglevehiclevalueofabout5000yuan.Withthecontinuousdevelopmentofnewenergyvehicles,therapidgrowth ofAI computing power demand, and the increasinglystrict PUE energyefficiency requirements, the marketfornewenergyvehiclethermalmanagementsystems,newenergystorage,andsupercomputingcenterthermalmanagementsystemsisalsorapidlyexpanding. c. Thecompany'sindustrystatusandbusinesspromotion Thecompanyhasbeenpromotingtheresearchandproductionofthermalmanagementpipelineproductsformany years, and its subsidiary TFH in Germany is an excellent supplier of thermal management pipeline assembliesforenginesandnewenergyvehiclebatteries.Ithasexclusiveproductiontechnologycreatubeprocesswithindependentpatents,aswellascoretechnologiesforTPVhosesandnylonhoses.Thecompanyranksamongthetoptwointheglobalindustryinitssegmentedfield. Thecompany vigorouslypromotesthebusinessofthermalmanagementpipelinesystemassemblyfornewenergyvehicles,andhascurrentlyprovidedsupportingservicesfornewenergyvehicleplatformssuchasBMW,Volvo,Audi,Volkswagen,Geely,Xiaopeng,andIdeal.The subsidiary companies of Zhongding Fluid and Zhongding Intelligent Thermal System lead theAnhuiZhongdingSealingPartsCo.,Ltd.AbstractoftheSemi-AnnualReport2025managementandsupercomputingcenterthermalmanagementonthebasisofautomotivethermalmanagementbusiness.Basedonself-developedthermalmanagementcontrollersandcontrolalgorithms,pipelinesystems,andcoretechnologiessuchassealing,thecompanyhaslaunchedaseriesofliquidcooledunitsandsubmergedliquidcooled units inthe field ofenergy storage;The main product inthe fieldofsupercomputing center thermal management isCDU (coldliquid distribution device). Inthe future, immersiontechnology will begradually applied to supercomputing center thermal management according to actual needs. Currently, the company is accelerating its connection with customers. The accumulated orders for the company's thermal management systembusinessinthefirsthalfof2025areapproximately7.1billionyuan.4) SealingSystem Thecompany'ssubsidiaries,KACOfromGermanyandACUSHNETfromtheUnitedStates,havethetopthree international sealing system technologies. KACO, as a representative of the sealing system, actively promotesthelayoutofnewenergyandhassuccessfullydevelopedhigh-performancenewenergymotorseals.Atthesametime,thecompanyhasdevelopedandmass-producednewenergybatterymodulesealingsystemsandbridgeassemblies,whicharematchedwithnewenergyvehicleplatformssuchasVolvo,NIO,SAIC,andGAC.Theautomotivesealingindustrybelongstothehigh-techbarrierindustry,withextremelyhighreliabilityrequirements.Dynamicsealingisalsothemosttechnicallydifficultpartinthesealingindustry,especiallythehigh-speedoilsealfornewenergyvehiclemotors,whichrepresentsthemostcutting-edgetechnologicallevelintheglobalsealingindustry.Inrecentyears,thecompanyhascontinuouslyincreaseditsbusinessexpansionspeed,especiallywithsignificantbreakthroughsinAmericancarsanddomesticbrandcustomers,anditsindustrymarketsharehassteadilyincreased. 5) Humanoidrobotbusiness Thecompanyhascompleteditsindustriallayoutinjointassemblies,harmonicreducers,planetaryreducers,forcesensorsandotherproductsthroughsubsidiariessuchasAnhuiRuisiboCompanyandXinghuiSensing.Currently,thecompany'srubberproductshavebeenmatched,andlightweightboneshavebeensenttocustomersforsampling,ultimatelyachievingtheproductionandmanufacturingofrobotjointassemblies.Atpresent,thecompanyanditssubsidiarieshavesignedstrategiccooperationagreementswithShenzhenZhongqingRobotTechnologyCo.,Ltd.andEfteIntelligentEquipmentCo.,Ltd.toenhancethecompany'scoreAnhuiZhongdingSealingPartsCo.,Ltd.AbstractoftheSemi-AnnualReport2025 time,thecompanyhasalsosignedcooperationagreementswithZhejiangWuzhouNewYearGroupCo.,Ltd.and ShenzhenZhujiPowerTechnologyCo.,Ltd.,forminganupstreamanddownstreamindustrialchainlayout,and promotingthedevelopmentofrobotbodyOEMbusiness.Therelevantbusinessiscurrentlyaccelerating. 中财网
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