证券代码：834058 证券简称：华洋赛车 公告编号：2024-095 《上市公司重大资产重组管理办法》第十二条规定："上市公司及其控股 或者控制的公司购买、出售资产，达到下列标准之一的，构成重大资产重组： （一）购买、出售的资产总额占上市公司最近一个会计年度经审计的合并 财务会计报告期末资产总额的比例达到 50%以上； （二）购买、出售的资产在最近一个会计年度所产生的营业收入占上市公 司同期经审计的合并财务会计报告营业收入的比例达到 50%以上； 浙江华洋赛车股份有限公司 对外投资的公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记 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个 别及连带法律责任。 一、对外投资概述 （一）基本情况 根据公司战略发展需要，为加大市场开拓，进一步增强公司核心产品竞争 力，浙江华洋赛车股份有限公司（以下简称"公司"）拟以现金增资方式投资重 庆峻驰摩托车有限公司（以下简称"峻驰摩托"），本次投资金额为 312.2449 万 元，增资完成后公司取得峻驰摩托 51.00%的股权。 （二）是否构成重大资产重组 本次交易不构成重大资产重组。 （三 ...

Investment Rating - The report maintains a "Buy" rating for Huayang Racing (834058 BJ) [1] Core Views - Huayang Racing's revenue in 2024H1 reached 259 million yuan (+17%), with net profit attributable to shareholders of 31 72 million yuan (+12%) and non-GAAP net profit of 31 13 million yuan (+48%) [4] - The company's gross margin increased year-on-year, driven by strong sales in the Russian market [4] - The report forecasts net profit attributable to shareholders of 66 million yuan, 82 million yuan, and 102 million yuan for 2024-2026, with EPS of 1 18 yuan, 1 46 yuan, and 1 83 yuan per share, respectively [4] - The current PE ratios for 2024-2026 are 13 3x, 10 7x, and 8 6x, reflecting optimism about the company's overseas business recovery and capacity expansion [4] Business Overview - Huayang Racing specializes in off-road motorcycles and all-terrain vehicles (ATVs), with five product series: Pit Bike, Dirt Bike, Mini Gp, ATV, and SSV [4] - The company has been expanding its presence in the Russian market since 2023, leveraging geopolitical changes [4] - In 2024H1, the company established a subsidiary, Huarui Kinetic, focusing on new energy power systems, including power batteries, motors, and controllers [6] Market Trends - China's motorcycle exports in July 2024 reached 3 66 million units (+48%), with export value of 1 37 billion USD (+29%) [5] - Exports to Russia surged by 91% in 2023, driven by geopolitical factors, and the Belt and Road markets are expected to further boost China's motorcycle exports [5] - The global ATV market saw a decline in 2022, with sales of 930,000 units (-10 6%), but UTV products accounted for 61% of the market, showing steady growth [12][13] Competitive Landscape - Huayang Racing holds an 8 5% global market share in non-road motorcycles and a 17 6% share in ATVs [37] - Key competitors include CFMOTO, Taotao Vehicles, and Polaris Industries, with CFMOTO leading in ATV exports, accounting for 74 28% of China's total export value [35] - Huayang Racing's gross margin for two-wheel motorcycles is comparable to CFMOTO, but CFMOTO has a higher gross margin in four-wheel vehicles (39 52% vs 20 42% in 2023) [46][47] Strategic Advantages - Huayang Racing has accumulated 82 patents by the end of 2023, with core technologies in lightweight and high-strength frame design, efficient transmission systems, and precise vehicle performance tuning [48][49] - The company has built a strong brand, KAYO, which is recognized internationally, and has established a robust sales network across over 50 countries [53][57] - The company has invested in intelligent manufacturing, including automated welding robots and laser cutting workstations, to enhance production precision and efficiency [66] Future Outlook - Huayang Racing is actively expanding into new energy power systems, with its subsidiary Huarui Kinetic focusing on power batteries, motors, and controllers [66] - The company's "Sports Motorcycle Intelligent Manufacturing Project" has reached 75% of its planned investment as of 2024H1, with a total capacity target of 600,000 units per year after expansion [68][69] - The report expects the company to benefit from the recovery of overseas markets, particularly in Russia and Belt and Road countries, as well as the release of new products like electric off-road motorcycles [71]

2024 年第二次临时股东大会决议公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 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个别及连 带法律责任。 证券代码：834058 证券简称：华洋赛车 公告编号：2024-094 浙江华洋赛车股份有限公司 一、会议召开和出席情况 （一）会议召开情况 1.会议召开时间：2024 年 9 月 13 日 2.会议召开地点：公司会议室 3.会议召开方式：现场投票和网络投票相结合方式 4.会议召集人：董事会 5.会议主持人：戴继刚 6.召开情况合法、合规、合章程性说明： 本次会议的召集、召开、议案审议程序等符合有关法律、行政法规、部门规 章、规范性文件和《公司章程》的规定。 （二）会议出席情况 出席和授权出席本次股东大会的股东共 5 人，持有表决权的股份总数 41,957,608 股，占公司有表决权股份总数的 74.92%。 其中通过网络投票参与本次股东大会的股东共 0 人，持有表决权的股份总数 0 股，占公司有表决权股份总数的 0%。 （三）公司董事、监事、高级管理人员出席或列席股东大会情况 1.公司在任董事 8 人，出席 8 人 ...

北京金诚同达（上海）律师事务所 关于 法律意见书 北京金诚同达（上海）律师事务所 关于浙江华洋赛车股份有限公司 浙江华洋墓车股份有限公司 2024 年第二次临时股东大会的 法律意见书 金沪法意[2024]第 222 号 JT&N 会诚同达律师事务所 JINCHENG TONGDA & NEAL LAW FIRM 上海市浦东新区世纪大道88号金茂大厦18层 电话: 021-3886 2288 传真: 021-3886 2288 转 1018 金诚同大律师事务所 2024 年第二次临时股东大会的 法律意见书 金沪法意[20241第 222 号 致: 浙江华洋富车股份有限公司 北京金诚同达(上海)律师事务所接受浙江华洋赛车股份有限公司(以下简 称"公司"）的委托,指派王成律师、王起杭律师(以下简称"本所律师")参 加了公司于 2024 年 9 月 13 日召开的 2024 年第二次临时股东大会(以下简称"本 次股东大会"），并就公司本次股东大会的相关事项出具法律意见书。 依据《中华人民共和国公司法》（以下简称"《公司法》"）、《中华人民 共和国证券法》（以下简称"《证券法》"）、《上市公司股东大会规则》（以 下简称 ...

北京金诚同达（上海）律师事务所 关于 浙江华洋墓车股份有限公司 2024 年第二次临时股东大会的 法律意见书 金沪法意[2024]第 222 号 JT&N 会诚同达律师事务所 JINCHENG TONGDA & NEAL LAW FIRM 上海市浦东新区世纪大道88号金茂大厦18层 电话: 021-3886 2288 传真: 021-3886 2288 转 1018 金诚同大律师事务所 法律意见书 北京金诚同达（上海）律师事务所 关于浙江华洋赛车股份有限公司 致: 浙江华洋富车股份有限公司 北京金诚同达(上海)律师事务所接受浙江华洋赛车股份有限公司(以下简 称"公司"）的委托,指派王成律师、王起杭律师(以下简称"本所律师")参 加了公司于 2024 年 9 月 13 日召开的 2024 年第二次临时股东大会(以下简称"本 次股东大会"），并就公司本次股东大会的相关事项出具法律意见书。 依据《中华人民共和国公司法》（以下简称"《公司法》"）、《中华人民 共和国证券法》（以下简称"《证券法》"）、《上市公司股东大会规则》（以 下简称"《股东大会规则》"）等法律、法规、规范性文件以及《浙江华洋赛车 股份有限公司章程 ...

证券代码：834058 证券简称：华洋赛车 公告编号：2024-094 浙江华洋赛车股份有限公司 2024 年第二次临时股东大会决议公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 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个别及连 带法律责任。 一、会议召开和出席情况 （一）会议召开情况 1.会议召开时间：2024 年 9 月 13 日 2.会议召开地点：公司会议室 3.会议召开方式：现场投票和网络投票相结合方式 4.会议召集人：董事会 出席和授权出席本次股东大会的股东共 5 人，持有表决权的股份总数 41,957,608 股，占公司有表决权股份总数的 74.92%。 其中通过网络投票参与本次股东大会的股东共 0 人，持有表决权的股份总数 0 股，占公司有表决权股份总数的 0%。 （三）公司董事、监事、高级管理人员出席或列席股东大会情况 1.公司在任董事 8 人，出席 8 人； 2.公司在任监事 3 人，出席 3 人； 3.公司董事会秘书出席会议； 4.公司其他高级管理人员列席会议。 5.会议主持人：戴继刚 6.召开情况合法、合规、合章程性说明： 本次会议的召集 ...

Investment Rating - The report assigns an "Accumulate" rating to the company for the first time, indicating a positive outlook for future performance [3][81]. Core Insights - Huayang Racing is a leading enterprise in the off-road motorcycle segment, with comprehensive capabilities in research and production. The company has developed a rich product system and has expanded its market presence globally, entering over 50 countries and regions [2][20]. - The electric motorcycle market is experiencing strong growth, with an increasing market share for high-displacement products. The demand for electric motorcycles has surged, driven by national policies promoting green economy and new energy industries [2][42]. - The company has established deep ties with globally recognized motorcycle dealers, enhancing its market reach and brand presence. Approximately 91% of the company's revenue comes from overseas markets, with a significant contribution from the Russian market [3][70]. Summary by Sections 1. Company Overview - Established in 2004, Huayang Racing specializes in the independent research, production, and sales of off-road vehicles, particularly motorcycles. The company has developed over 30 specifications and models, mastering core technologies in structural design and performance tuning [20][27]. - The company has seen its two-wheeler motorcycle business grow from 128 million yuan in 2019 to 301 million yuan in 2023, with a compound annual growth rate (CAGR) of 23.75% [2][31]. 2. Electric Motorcycle Market - The electric motorcycle market in China has seen significant growth, with sales reaching 8.92 million units in 2021, a year-on-year increase of 202.54%. This growth has positively impacted overall motorcycle sales, which reached 25.36 million units in 2021, up 48.62% from 2020 [2][42]. - The market for high-displacement motorcycles is expanding, with the share of motorcycles over 150ml increasing from 3.40% in 2012 to 15.33% in 2022, indicating substantial growth potential [2][46]. 3. Global Market Presence - The company has built a robust dealer network in major global markets, with a focus on strong, reputable partners. As of 2023, 91% of the company's revenue is derived from international markets, with Europe and North America being the primary regions [3][34]. - The company has a high gross margin from overseas operations, which reached 22.45% in 2023, indicating a favorable market position compared to domestic operations [3][70]. 4. Financial Forecast and Investment Advice - The company is expected to achieve net profits of 0.62 billion yuan, 0.75 billion yuan, and 0.95 billion yuan for the years 2024 to 2026, respectively. The current stock price corresponds to a price-to-earnings (P/E) ratio of 13.95, 11.58, and 9.11 for the same years [3][81]. - The report anticipates a revenue growth of 15.75%, 18.08%, and 21.98% for the years 2024 to 2026, with a corresponding increase in net profit margins [3][78].

Group 1: Financial Performance - The company's non-recurring net profit increased by 47.51% compared to the same period last year, indicating significant growth in the first half of 2024 [3] - The company attributes the growth to seasonal market factors and proactive strategies in the Russian market, which have led to improved performance in the second quarter [3] - The company is optimistic about achieving its annual targets, as the second half is typically a peak sales season [3] Group 2: Market Risks and Strategies - The company employs a diversified market strategy to mitigate risks from potential tariff changes, ensuring that performance is not heavily impacted by localized issues [3] - The product line's diversity helps to avoid significant cost increases due to varying import tariffs across different markets [3] - The company has established a strong brand presence in the U.S. market, which has been maintained through reasonable pricing and profit policies [3] Group 3: Export Markets and Growth Areas - Key export markets for the company's two-wheeled off-road vehicles include the Far East, Middle East, and Southeast Asia, with a focus on the "Belt and Road" initiative regions for future growth [4] - The company plans to enhance marketing efforts and introduce models that meet the specific demands of these emerging markets [4] Group 4: Domestic Market Development - The company is committed to cultivating the domestic market and enhancing brand recognition through participation in various competitions [5] - Sales data indicates steady growth in the domestic market, driven by increasing consumer awareness and interest in non-road motorcycles [5] - The company maintains a positive outlook on long-term market potential, supported by a large population base and evolving consumer preferences [5]

Group 1: Financial Performance - The company's non-recurring net profit increased by 47.51% compared to the same period last year, indicating significant growth in the first half of 2024 [3] - The company attributes the growth to seasonal market factors and proactive strategies in the Russian market, which have led to improved performance in the second quarter [3] - The company is optimistic about achieving its annual targets, as the second half is typically a peak sales season [3] Group 2: Market Risks and Strategies - The company employs a diversified market strategy to mitigate risks from potential tariff changes, ensuring that performance is not heavily impacted by localized issues [3] - The product line's diversity helps to avoid significant cost increases due to varying import tariffs across different markets [3] - The company has established a strong brand presence in the U.S. market, which has been maintained through reasonable pricing and profit policies [3] Group 3: Export and Domestic Market Development - Key export markets for the company's two-wheeled off-road vehicles include the Far East, Middle East, and Southeast Asia, with a focus on the "Belt and Road" initiative [4] - The company plans to enhance marketing efforts and introduce models that meet the specific demands of these emerging markets [4] - The domestic market is experiencing steady growth, supported by the company's strong brand recognition and participation in various racing events [5]

浙江华洋赛车股份有限公司 投资者关系活动记录表 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 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个别及连 带法律责任。 一、 投资者关系活动类别 √特定对象调研 □业绩说明会 证券代码：834058 证券简称：华洋赛车 公告编号：2024-093 活动地点：公司会议室线上交流会 □媒体采访 □现场参观 □新闻发布会 □分析师会议 □路演活动 □其他 二、 投资者关系活动情况 活动时间：2024 年 8 月 30 日 参会单位及人员：开源证券、申万宏源证券、中信证券、红塔证券、国投证 券、江海证券、首创证券、沣京资本、国元证券、长江证券、东方财富证券、第 一创业证券、中泰证券、财信证券、信达澳银基金、中天汇富基金、指南基金、 创金合信基金、华宝基金、泰康资产、华宝信托、晨鸣资管、长城财富保险资管、 汇瑾资产、贝盈资产、临信资产等 上市公司接待人员：董事会秘书任宇先生 三、 投资者关系活动主要内容 问题 1：看到公司上半年的业绩提升很大，尤其是扣非净利润增长幅度对比 同期也是达到了 47.51%，在整个行业都非常亮眼，明显比一季度 ...