Core Viewpoint - Tongli Co., Ltd. reported a revenue of 6.145 billion yuan for 2024, marking a year-on-year increase of 4.85%, and a net profit attributable to shareholders of 793 million yuan, up 29.03% year-on-year, indicating a solid financial performance and growth in profitability [1] Financial Performance - The company achieved a net profit of 793 million yuan, a 29.03% increase year-on-year [1] - The basic earnings per share stood at 1.79 yuan [1] - The gross profit margin improved by 2.37 percentage points compared to the same period last year [1] - A cash dividend of 7 yuan per 10 shares is proposed, totaling approximately 317 million yuan [1] Product Development and Strategy - Tongli Co., Ltd. focuses on the development of large-scale, intelligent, and new energy products, with significant achievements in product research and new product launches in 2024 [2] - The company has expanded its product lineup in new energy vehicles, including large-scale products with enhanced efficiency [2] - Key research projects include hybrid mining dump trucks, autonomous driving technology for non-road vehicles, and key technologies for electric vehicle battery swapping [3] Market Expansion - Domestic revenue reached 5.134 billion yuan, a year-on-year increase of 5.22%, with a focus on niche markets [2] - Overseas revenue grew by 34.03% to 1.011 billion yuan, with plans to balance domestic and international markets [2] - The company aims to enhance its brand influence and gradually increase its market share in the international arena [4] Research and Development - R&D investment surged by 89.33% to 196 million yuan, reflecting a commitment to innovation [3] - Collaborations with several autonomous driving companies have led to the introduction of large-scale new energy autonomous products [3] - The industry is trending towards automation and electrification, supported by domestic policies and facing challenges such as raw material price fluctuations and international trade tensions [3]

Investment Rating - The investment rating for the company is "Accumulate" (maintained) [5] Core Views - The company, Xian Tongli, along with its Singapore subsidiary, is expanding globally with a nearly doubled R&D investment to enhance new product technology innovation [5] - In 2024, the company achieved a revenue of 6.145 billion yuan (up 4.85% year-on-year) and a net profit attributable to shareholders of 793 million yuan (up 29.03% year-on-year) [6] - The company is focusing on three main business segments: wide-body dump trucks, parts sales, and maintenance services, all of which showed stable growth in 2024 [6] - The domestic market is recovering, and the overseas market presents significant opportunities, particularly in open-pit coal mining [6] - The company is increasing its R&D expenses by 89% year-on-year, focusing on large-scale, intelligent, and new energy strategies [6] Financial Summary - The company forecasts revenues of 6.507 billion yuan in 2025, with a year-on-year growth rate of 5.90% [8] - The net profit attributable to shareholders is expected to be 803 million yuan in 2025, reflecting a growth rate of 1.28% [8] - The earnings per share (EPS) is projected to be 1.76 yuan in 2025, with a price-to-earnings (P/E) ratio of 12.31 [9] - The company anticipates a steady increase in net profit to 1.007 billion yuan by 2027, with an EPS of 2.20 yuan [9]

Investment Rating - The investment rating for the company is "Buy" (maintained) [1][10] Core Views - The company's profitability is expected to significantly improve in 2024, driven by trends in large-scale, intelligent, and electrified operations, which will support continuous performance growth [1][6] - The company achieved a revenue of 6.145 billion yuan in 2024, representing a year-on-year increase of 4.85%, and a net profit attributable to shareholders of 793 million yuan, up 29.03% year-on-year [4][6] - The company is making significant progress in the new energy and autonomous driving sectors, with successful deliveries and increased sales of new energy vehicles and autonomous mining trucks [6][8] Summary by Sections Financial Performance - In 2024, the company reported a revenue of 6.145 billion yuan, with domestic revenue of 5.134 billion yuan (up 5.22% year-on-year) and overseas revenue of 1.011 billion yuan (up 3.03% year-on-year) [6][8] - The gross profit margin for 2024 was 21.45%, an increase of 2.37 percentage points year-on-year, attributed to the introduction of higher-margin large-tonnage and new energy products [6][7] - The net profit margin improved to 12.91%, up 2.32 percentage points year-on-year, reflecting enhanced profitability [7][8] Market Trends and Strategic Initiatives - The company is positioned to benefit from national policies promoting equipment upgrades in the mining sector, which will drive demand for large-scale and autonomous mining trucks [7][8] - The autonomous mining truck market is expected to grow significantly, with projections indicating an increase in the number of autonomous trucks deployed in open-pit mines [7][8] - The company aims to enhance its market share in the new energy sector by increasing the production scale of electric off-road dump trucks [7][8] Earnings Forecast - The company forecasts revenues of 7.067 billion yuan in 2025, 8.296 billion yuan in 2026, and 9.821 billion yuan in 2027, with corresponding net profits of 910 million yuan, 995 million yuan, and 1.148 billion yuan respectively [8][9] - The expected growth rates for revenue and net profit are 15% and 9% for 2025 and 2026, respectively, with a return on equity (ROE) projected at around 25% [9][10]

Core Insights - Tongli Co., Ltd. reported a revenue of 6.145 billion yuan for 2024, marking a year-on-year growth of 4.85%, and a net profit attributable to shareholders of 793 million yuan, reflecting a 29.03% increase [1] - The company has focused on the niche market of non-road wide-body dump trucks for 20 years, continuously innovating and evolving its products to meet the demands of various large-scale engineering projects [1][2] Financial Performance - Revenue for 2022, 2023, and 2024 was 5.202 billion yuan, 5.86 billion yuan, and 6.145 billion yuan respectively, with a compound annual growth rate (CAGR) of 8.63% [7] - Net profit for the same years was 471 million yuan, 621 million yuan, and 793 million yuan, with a CAGR of 29.72% [7] - The company plans to distribute a cash dividend of 3.17 billion yuan to shareholders in 2024, proposing a payout of 7 yuan per 10 shares [7] Product Development and Innovation - The company has developed a range of new energy vehicles, including pure electric, hybrid, hydrogen fuel, and methanol fuel models, alongside intelligent driving technologies [6] - The DTH145 new energy unmanned non-road wide-body dump truck, with a load capacity of 91 tons, is currently being tested in high-altitude mining operations [5] - The company emphasizes a "large-scale, green, and intelligent" approach in its R&D strategy, focusing on product innovation and breakthroughs [4][5] Market Position and Strategy - Tongli Co., Ltd. has established itself as a "hidden champion" in the non-road wide-body dump truck sector, holding a significant market share and exporting products to over 20 countries [3] - The company has a strong service network, with dedicated teams stationed at mining sites to ensure customer satisfaction and equipment reliability [2] - The company is actively expanding its international presence through a subsidiary in Singapore, aiming to penetrate global markets [7]

（一）股东大会届次 本次会议为 2024 年年度股东大会。 （二）召集人 证券代码：834599 证券简称：同力股份 公告编号：2025-021 陕西同力重工股份有限公司 关于召开 2024 年年度股东大会通知公告（提供网络投票） 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、会议召开基本情况 2、网络投票起止时间：2025 年 5 月 7 日 15:00—2025 年 5 月 8 日 15:00。 登记在册的股东可通过中国证券登记结算有限责任公司（以下简称"中国结 算"）持有人大会网络投票系统对有关议案进行投票表决，为有利于投票意见的 顺利提交，请拟参加网络投票的投资者在上述时间内及早登录中国结算网上营业 厅（网址：inv.chinaclear.cn）或关注中国结算官方微信公众号（"中国结算营 业厅"）提交投票意见。 投资者首次登陆中国结算网站进行投票的，需要首先进行身份认证。请投资 者提前访问中国结算网上营业厅（网址：inv.chinaclear.cn）或中国结算官方 微信公众号（"中国结算营 ...

证券代码：834599 证券简称：同力股份 公告编号：2025-018 陕西同力重工股份有限公司 第五届监事会第十八次会议决议公告 本公司及监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：2025 年 4 月 17 日 2.会议召开地点：公司会议室 3.会议召开方式：现场会议 4.发出监事会会议通知的时间和方式：2025 年 4 月 7 日以电话方式发出 5.会议主持人：监事会主席郭振军先生。 6.召开情况合法、合规、合章程性说明： 本次会议的召开符合《公司法》和《陕西同力重工股份有限公司公司章程》 的规定。 （二）会议出席情况 会议应出席监事 3 人，出席监事 3 人。 二、议案审议情况 （一）审议通过《关于<陕西同力重工股份有限公司 2024 年年度报告及报告摘 要>》的议案； 1.议案内容： 审议《关于<陕西同力重工股份有限公司 2024 年年度报告及报告摘要>》的 议案。 详细内容见公司 2025 年 4 月 18 日于北京证券交易所信息披露 ...

证券代码：834599 证券简称：同力股份 公告编号：2025-017 陕西同力重工股份有限公司 第五届董事会第二十三次会议决议公告 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：2025 年 4 月 17 日 2.会议召开地点：公司会议室 3.会议召开方式：现场会议 4.发出董事会会议通知的时间和方式：2025 年 4 月 7 日以电话方式发出 5.会议主持人：公司董事长叶磊先生 6.会议列席人员：公司全体监事和公司高管薛晓强、杨建耀、安杰、杨鹏。 7.召开情况合法、合规、合章程性说明： 本次会议召开符合《公司法》和《陕西同力重工股份有限公司公司章程》的 规定。 （二）会议出席情况 会议应出席董事 6 人，出席董事 6 人。 二、议案审议情况 （一）审议通过《关于<陕西同力重工股份有限公司 2024 年年度报告及报告摘 要>》的议案； 1.议案内容： 审议《关于<陕西同力重工股份有限公司 2024 年年度报告及报告摘要>》的 议案。 详细 ...

证券代码：834599 证券简称：同力股份 公告编号：2025-019 陕西同力重工股份有限公司 2024 年年度权益分派预案公告 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。 陕西同力重工股份有限公司（以下简称"公司"）于 2025 年 4 月 7 日召开第 五届董事会独立董事专门会议第五次会议审议通过，2025 年 4 月 17 日召开第五 届董事会第二十三次会议、第五届监事会第十八次会议，审议通过《陕西同力重 工股份有限公司 2024 年度权益分派预案》的议案，该议案尚需公司 2024 年年度 股东大会批准，现将有关情况公告如下： 一、权益分派预案情况 根据公司 2025 年 4 月 18 日披露的 2024 年年度报告（财务报告已经审计）， 截至 2024 年 12 月 31 日，上市公司合并报表归属于母公司的未分配利润为 1,824,902,658.63 元，母公司未分配利润为 1,680,512,525.75 元。 公司本次权益分派预案如下：公司目前总股本为 457,525,000.00 ...