消息面上，根据国家统计局，2025年12月我国大拖/中拖/小拖产量分别为0.9/2.3/1.0万台，同比 +23.1%/-3.1%/-16.7%。出口方面，根据海关总署，2025年12月我国轮式拖拉机出口销量为9985台，同 比增加37.4%，其中大中拖出口销量8152台，同比增加46.1%，出口增速边际加快。 国金证券认为，从基本面来看，2025年9月以来国内玉米价格维持正增长，海外龙头约翰迪尔在欧洲、 拉美、亚非地区的农机收入均显著转增，呈现明显的底部反转态势，看好2026年国内海外基本面双重反 转，重点关注国内拖拉机行业龙头一拖股份。 智通财经APP获悉，第一拖拉机股份(00038)涨超3%，截至发稿，涨3.41%，报9.1港元，成交额4591.26 万港元。 ...

Group 1 - The core viewpoint of the news is that Yituo Co., Ltd. has experienced a decrease in revenue and net profit for the first nine months of 2025, alongside a reduction in shareholder numbers and changes in institutional holdings [2][3] Group 2 - As of January 15, Yituo's stock price increased by 0.51%, with a trading volume of 99.21 million yuan and a net financing purchase of 3.57 million yuan [1] - The total financing and securities lending balance for Yituo is 164 million yuan, which is low compared to the 10th percentile level over the past year [1] - The company reported a revenue of 9.70 billion yuan for the first nine months of 2025, a year-on-year decrease of 9.63%, and a net profit of 994 million yuan, also down by 9.69% [2] - Yituo has distributed a total of 1.55 billion yuan in dividends since its A-share listing, with 1.03 billion yuan distributed in the last three years [3] - The number of shareholders decreased by 7.55% to 33,900, while the average circulating shares per person increased by 8.22% to 21,786 shares [2]

Core Viewpoint - The company aims to accelerate its overseas expansion strategy with the goal of building a world-class brand, focusing on five major sales regions including Central Asia, Southeast Asia, the Americas, Central and Eastern Europe, and Africa [2] Group 1: Overseas Expansion Strategy - The company has identified five primary sales regions for its overseas business, which are Central Asia, Southeast Asia, the Americas, Central and Eastern Europe, and Africa [2] - The European Union is also included in the company's overseas business layout, with specific certification requirements for tractor products [2] Group 2: Product Development and Competition - The company plans to expedite product upgrades and enhance its technological research and development efforts to meet international advanced standards [2] - The company aims to actively participate in international competition within the EU market for its tractor products [2]

Core Viewpoint - The company recognizes the development opportunities in the smart agriculture sector and aims to leverage its comprehensive advantages in agricultural machinery and technology to transition from providing equipment products to offering complete solutions and smart agricultural management plans [2] Group 1 - The company plans to utilize its "Dongfanghong" brand advantage, mature manufacturing system, and market network to explore new business models in smart agriculture [2] - The transition strategy includes moving towards providing integrated solutions rather than just equipment [2]

Core Viewpoint - The company, Yituo Co., Ltd. (601038), has not yet ventured into the snow removal equipment business and remains focused on strengthening its agricultural machinery sector through technological innovation and market expansion [1]. Group 1 - The company emphasizes its strategic focus on enhancing and optimizing agricultural machinery equipment [1]. - The current strategy involves concentrating on core responsibilities and business areas to solidify competitive advantages and profitability [1]. - The company aims to achieve high-quality and sustainable development through its ongoing efforts [1].

Core Viewpoint - The company recognizes the promising development prospects of agricultural robots but currently has no plans for research and development in this area, focusing instead on its core business and technology upgrades [1] Group 1: Company Strategy - The company emphasizes its commitment to its main responsibilities and core business, accelerating the iteration and upgrade of smart agricultural machinery products [1] - The company will continue to closely follow the trends in the agricultural machinery industry and assess the feasibility and timing of entering new business areas, including agricultural robots [1] Group 2: Industry Context - The agricultural robot sector is seen as a forward-looking technological direction within the agricultural machinery field, but a mature model for large-scale application has not yet been established [1] - The company is aware of new technologies and directions in the industry and will evaluate potential strategic layouts and research plans in the future [1]

Core Viewpoint - The company stated that the impact of rising market prices for copper materials and rebar on production costs is limited, and it will not significantly affect profitability [1] Group 1: Cost Management Strategies - The company leverages its scale procurement advantages to mitigate the pressure from rising material prices through strategies such as price locking and phased purchasing [1] - The company is actively applying new technologies, processes, and materials to promote cost reduction [1] - By combining market-oriented procurement with refined cost management, the company aims to further strengthen its cost control foundation and achieve cost reduction and efficiency improvement [1]

Core Viewpoint - The company recognizes the promising development prospects of agricultural robots but currently has no plans for related research and development or deployment in this area [1] Group 1: Company Strategy - The company is focusing on its core business and accelerating the iteration and upgrade of smart agricultural machinery products while tackling key technologies [1] - The company aims to seize industry development opportunities while closely monitoring new technologies and directions, including agricultural robots [1] Group 2: Industry Context - The agricultural robot sector is seen as a forward-looking technological direction within the agricultural machinery field, but a mature model for large-scale application has not yet been established [1] - The company will carefully assess the feasibility and timing of entering new business areas related to agricultural robots in the future [1]

Group 1 - The core viewpoint of the news is that Yituo Co., Ltd. has experienced a decrease in both revenue and net profit for the first nine months of 2025, indicating potential challenges in its financial performance [2] - As of January 9, 2025, Yituo's stock price increased by 0.49%, with a trading volume of 148 million yuan, while the net financing buy was negative at 211.73 million yuan [1] - The financing balance of Yituo is 162 million yuan, which is 1.56% of its market capitalization, indicating a low level compared to the past year [1] Group 2 - For the period from January to September 2025, Yituo reported an operating income of 9.703 billion yuan, a year-on-year decrease of 9.63%, and a net profit attributable to shareholders of 994 million yuan, down 9.69% year-on-year [2] - The number of shareholders for Yituo decreased by 7.55% to 33,900, while the average circulating shares per person increased by 8.22% to 21,786 shares [2] - Yituo has distributed a total of 1.549 billion yuan in dividends since its A-share listing, with 1.026 billion yuan distributed in the last three years [2]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何 部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 控股股東權益變動的進展 茲提述第一拖拉機股份有限公司（「本公司」）日期為2023年12月22日有關控股股東權 益變動的公告（「該公告」）。除另有說明者外，本公告所用詞彙與該公告所界定者具 相同涵義。 本公司董事（「董事」）會（「董事會」）宣佈，本公司已獲中國一拖通知，由於股份轉讓 協議項下其中一項先決條件未能達成，中國一拖於2026年1月5日終止與洛陽工業控 股集團有限公司（原名洛陽國資公司）的股份轉讓協議及中國一拖減資協議（統稱「該 等協議」）。於本公告日期，中國一拖為本公司控股股東，持有本公司約548,485,853股 A股，相當於本公司已發行股份總數約48.81%。 本公司認為，終止該等協議將不會對本公司的業務及財務狀況產生任何重大影響。 承董事會命 第一拖拉機股份有限公司 公司秘書 劉斌 中國 • 洛陽 2026年1月5日 於本公告日期，董事會成員包括執行董事趙維林先生（董事長）及魏濤先生；非執 ...