Investment Rating - No rating provided for the company [5] Core Views - The company's profitability has improved significantly, with Q3 performance exceeding expectations [6] - In 2024 Q1-Q3, the company achieved revenue of 4,381.47 million yuan, a year-on-year increase of 0.38%, and net profit attributable to the parent company of 459.88 million yuan, a year-on-year increase of 4.92% [1] - In 2024 Q3, the company achieved revenue of 1,569.54 million yuan, a year-on-year increase of 48.01%, and net profit attributable to the parent company of 163.12 million yuan, a year-on-year increase of 56.43% [1] - The gross profit margin for 2024 Q1-Q3 was 22.92%, a year-on-year increase of 3.62 percentage points, and the net profit margin attributable to the parent company was 10.50%, a year-on-year increase of 0.37 percentage points [1] - The gross profit margin for 2024 Q3 was 22.82%, a year-on-year increase of 3.48 percentage points, and the net profit margin attributable to the parent company was 10.39%, a year-on-year increase of 0.33 percentage points [1] Financial Performance - From 2020 to 2023, the company's revenue grew from 2,737.45 million yuan to 5,860.35 million yuan, with year-on-year growth rates of 7.84%, 49.57%, 27.04%, and 12.67% respectively [3] - Net profit attributable to the parent company grew from 333.85 million yuan in 2020 to 614.67 million yuan in 2023, with year-on-year growth rates of 38.47%, 10.75%, 26.12%, and 31.82% respectively [3] - The gross profit margin fluctuated between 18.21% and 23.58% from 2020 to 2023, with the highest in 2020 and the lowest in 2021 [3] - ROE decreased from 36.50% in 2020 to 27.37% in 2023, with a slight recovery in 2023 [3] - Earnings per share increased from 0.83 yuan in 2020 to 1.39 yuan in 2023 [3] Company Overview - The company is an engineering machinery manufacturer specializing in the development, design, production, and sales of non-road wide-body dump trucks, mining dump trucks, and tunnel vehicles for mining and large-scale engineering material transportation [2] - Main products include TL87, TL88, TL89 series non-road wide-body dump trucks, TLD series mining dump trucks, TLK series tunnel vehicles, TLS series non-road water trucks, and TLQ series bridge transport vehicles [2] - The company has expanded its product line to include new energy vehicles such as pure electric, hybrid, hydrogen fuel, and methanol fuel models, as well as intelligent driving chassis [2] - Products are used in industries such as open-pit coal mining, iron ore, non-ferrous metal mining, cement, and large-scale engineering projects, covering all provinces in China and exported to countries including Pakistan, Indonesia, Malaysia, Mongolia, Tajikistan, India, and the Democratic Republic of Congo [2] - As of November 25, 2024, the company's market capitalization was 6.703 billion yuan, with a PE (TTM) of 10.54x [2] Operational Metrics - The company's operating cash flow for 2024 Q1-Q3 was 823.81 million yuan, a year-on-year increase of 685.10% [6] - The total asset turnover rate was 0.69, slightly lower than the previous year [6] - Sales expense ratio was 6.25%, a year-on-year increase of 1.57 percentage points, management expense ratio was 1.50%, a year-on-year increase of 0.21 percentage points, R&D expense ratio was 2.78%, a year-on-year increase of 1.39 percentage points, and financial expense ratio was 0.03%, a year-on-year increase of 0.04 percentage points [6]

证券代码：834599 证券简称：同力股份 公告编号：2024-074 陕西同力重工股份有限公司股票解除限售公告 注：解除限售原因： A 董事、监事、高级管理人员每年解除限售 B 离职董事、监事、高级管理人员解除限售 C 自愿限售解除限售 D 限制性股票解除限售 E 公开发行前特定主体股票解除限售上市 F 参与战略配售取得股票解除限售上市 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、本次股票解除限售数量总额为 112,456,384 股，占公司总股本 24.58%，可 交易时间为 2024 年 12 月 4 日。 | 二、本次股票解除限售的明细情况及原因 | | --- | 单位：股 | | | 是否为 控股股 | 董事、 监事、 | | | 本次解除 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 序 | 股东姓名或 | 东、实 际控制 | 高级管 | 本次解限售 | 本次解除限 售登记股票 | 限售股数 | 尚未解除限 售的股票 ...

证券代码：834599 证券简称：同力股份 公告编号：2024-074 陕西同力重工股份有限公司股票解除限售公告 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、本次股票解除限售数量总额为 112,456,384 股，占公司总股本 24.58%，可 交易时间为 2024 年 12 月 4 日。 | 二、本次股票解除限售的明细情况及原因 | | --- | 单位：股 | 序 | 股东姓名或 | 是否为 控股股 东、实 | 董事、 监事、 高级管 | 本次解限售 | 本次解除限 | 本次解除 限售股数 | 尚未解除限 | | --- | --- | --- | --- | --- | --- | --- | --- | | 号 | 名称 | 际控制 | 理人员 | 原因 | 售登记股票 | 占公司总 | 售的股票数 | | | | 人或其 | 任职情 | | 数量 | 股本比例 | 量 | | | | 一致行 | | | | | | | | | 动人 | 况 | | | | | | 1 | 叶磊 | 否 ...

| 日期 | 代码 | 简称 | 成交价 | 成交数量（股） | 买入营业部 | 卖出营业部 | | --- | --- | --- | --- | --- | --- | --- | | 2024-11- | 430418 | 苏轴股份 | 29.01 | 50000 | 财通证券股份有限公 | 东吴证券股份有限公 司苏州吴江区中山北 | | 20 | | | | | 司江苏分公司 | | | | | | | | | 路证券营业部 | | 2024-11- | | | | | 国都证券股份有限公 | 中信建投证券股份有 | | 20 | 839719 | 宁新新材 | 16.65 | 150000 | 司北京东中街证券营 | 限公司北京北四环东 | | | | | | | 业部 | 路证券营业部 | | 2024-11- | 832522 | 纳科诺尔 | 58.29 | 50000 | 财通证券股份有限公 | 粤开证券股份有限公 | | 20 | | | | | 司江苏分公司 | 司广东分公司 | | 2024-11- | | | | | 国泰君安证券股份有 | 方正证券股份有限公 | | 20 | 83 ...

2023 年股票期权激励计划预留部分 1、期权简称及代码：同力 JLC2、850069； 2、授予日：2023 年 8 月 22 日； 3、股票登记日：2024 年 11 月 8 日； 4、可交易日：2024 年 11 月 11 日； 5、行权价格：4.04 元/份； 6、实际行权人数：12 人； 7、实际行权数量：1,000,000 份； 8、股票来源：公司向激励对象定向发行的本公司人民币 A 股普通股股票。 第一个行权期股票期权行权结果公告 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、股票期权行权结果 （一）实际行权基本情况 证券代码：834599 证券简称：同力股份 公告编号：2024-073 （二）、实际行权明细表 陕西同力重工股份有限公司 | | | 可行权数量 | 实际行权数 | 实际行权对 | 实际行权对应股 | | --- | --- | --- | --- | --- | --- | | 姓名 | 职务 | | 量（份） | 应股票数量 | 票数量占行权后 | | | | （份 ...

证券代码：834599 证券简称：同力股份 公告编号：2024-073 陕西同力重工股份有限公司 2023 年股票期权激励计划预留部分 第一个行权期股票期权行权结果公告 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、股票期权行权结果 （一）实际行权基本情况 1、期权简称及代码：同力 JLC2、850069； 2、授予日：2023 年 8 月 22 日； 3、股票登记日：2024 年 11 月 8 日； 4、可交易日：2024 年 11 月 11 日； 5、行权价格：4.04 元/份； 6、实际行权人数：12 人； 7、实际行权数量：1,000,000 份； 8、股票来源：公司向激励对象定向发行的本公司人民币 A 股普通股股票。 | 秦志强 | 核心员工 | 300,000 | 300,000 | 300,000 | 0.0656% | | --- | --- | --- | --- | --- | --- | | 董秀辉 | 核心员工 | 100,000 | 100,000 | 100,000 | ...

Group 1: Company Strategy and Market Position - The company's overseas revenue currently accounts for approximately 20%, with a long-term goal of achieving a 50% split between domestic and international revenue [4] - The global open-pit coal mine market has a 70% overseas share, indicating significant growth potential for the company [4] - The company aims to enhance its research and development efforts to lead and drive market growth [4] Group 2: Product Pricing and Profitability - Electric products are priced about 70% higher than traditional models, while hybrid products are slightly lower than electric ones [4] - The gross profit margin for domestic fuel vehicles is under 20%, while electric vehicles have a gross margin of around 30% [6] - The company maintains a stable gross profit margin by adhering to a cost-plus pricing model, anticipating a 20% gross profit margin [5] Group 3: Future Market Trends and Projections - The penetration rate of new energy products is expected to reach 20% this year, with a forecast of full replacement of fuel vehicles within 3-5 years due to environmental regulations and technological advancements [8] - The company is well-positioned in the new energy vehicle market, being one of the earliest developers, leading to a significant market share [8] - The company plans to focus on its core business while expanding its market share in both domestic and international markets [10] Group 4: Sales and Cost Management - Future sales expenses may increase if the proportion of new energy and autonomous driving products rises, while a higher proportion of fuel vehicles could lead to reduced expenses [6] - The company is committed to controlling its cost structure and maintaining a normal expense ratio [6] Group 5: Shareholder Returns and Policies - The company has a relatively stable dividend policy and aims to create greater value for shareholders through operational performance [11] - Share buyback plans and other significant matters will be communicated through official announcements [11]

Group 1: Company Strategy and Market Position - The company's overseas revenue currently accounts for approximately 20%, with a long-term goal of achieving a 50% split between domestic and international revenue [4] - The global open-pit coal mine market has a 70% overseas share, indicating significant growth potential for the company [4] - The company aims to enhance its research and development to lead the market with superior products [4] Group 2: Product Pricing and Profit Margins - Electric products are priced about 70% higher than traditional models, while hybrid products are slightly lower than electric ones [4] - The gross margin for domestic fuel vehicles is under 20%, while electric vehicles have a gross margin of around 30% [6] - The company maintains a stable gross margin by adhering to a cost-plus pricing model, allowing for a 20% gross profit margin [5] Group 3: Future Market Trends and Projections - The penetration rate of new energy products is expected to reach 20% this year, with a forecast of complete replacement of fuel vehicles within 3-5 years due to environmental regulations and technological advancements [8] - The company anticipates that the sales expense ratio will normalize next year, with ongoing cost reduction efforts [6] - The company is focused on expanding its market share in both domestic and international markets, with significant growth opportunities identified [10] Group 4: Autonomous Vehicle Development - Currently, there is no commercial deployment of autonomous vehicles in mining, but the company is actively developing its line control chassis to enhance compatibility with various systems [9] - The efficiency of autonomous vehicles is reported to be about 90% compared to human-driven vehicles, indicating readiness for future commercialization [5] Group 5: Dividend Policy and Shareholder Returns - The company maintains a stable dividend policy and aims to provide timely cash dividends to shareholders, reflecting its commitment to creating value [11]

陕西同力重工股份有限公司 证券代码：834599 证券简称：同力股份 公告编号：2024-072 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 □媒体采访 □现场参观 □新闻发布会 □分析师会议 □路演活动 □其他 回答：公司出海战略是公司重要发展战略，目前国内市场竞争激烈，面对 海外巨大市场公司制定了国内外营收各一半的长期市场目标；但目前海外营收 仅占 20%左右。海外市场其实有更大的机会，全球露天煤矿海外占比 70%左右。 当然海外市场拓展较慢，尤其是替代原有刚性矿卡尚需较长时间，这其中原因 一方面是客户的认可接受程度参差不齐，需要时间；另一方面需要对产品进行 验证，同时刚性矿卡单车价格太高导致客户更换频率相比国内大幅放缓。在国 内市场，因为大型化、新能源化等政策落地时间推迟原因，新车更换速度放缓。 但是国内露天煤矿占比将逐步提升，公司的主力市场将继续扩大。 因此，从中长期来看，整个市场的向上空间巨大，但是短期波动的可能 ...

证券代码：834599 证券简称：同力股份 公告编号：2024-071 一、 投资者关系活动类别 √特定对象调研 □业绩说明会 □媒体采访 □现场参观 陕西同力重工股份有限公司 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。 □分析师会议 □路演活动 问题 1：公司新能源产品和无人驾驶产品的市场渗透率如何，未来需求如 何？ 活动地点：线上交流会 □新闻发布会 参会单位及人员：开源证券，中信建投基金，招商基金，创金合信，中天汇 富基，中颖投资，天驷资产，盟洋投资，理成资产，贵源投资，冰河资产，山西 证券，国金证券，信石投资，留仁资产，巨鹿投资，九泰基金，八零后资产，淳 厚基金，澄怀投资，财信证券，星允投资，君创富民。 □其他 二、 投资者关系活动情况 上市公司接待人员：公司董事会秘书杨鹏先生。 活动时间：2024 年 10 月 29 日 三、 投资者关系活动主要内容 问题 5：公司 180 吨和 220 吨刚性矿卡的研发进展如何？ 回答：目前新能源产品占公司销量 20%左右，预计未来 ...