内部控制审计报告 2024 年 12 月 31 日 三一重工股份有限公司 内部控制审计报告 安永华明（2025）专字第70045452_G01号 三一重工股份有限公司 三一重工股份有限公司全体股东： 按照《企业内部控制审计指引》及中国注册会计师执业准则的相关要求，我 们审计了三一重工股份有限公司 2024 年 12 月 31 日的财务报告内部控制的有 效性。 一、 企业对内部控制的责任 按照《企业内部控制基本规范》、《企业内部控制应用指引》、《企业内部 控制评价指引》的规定，建立健全和有效实施内部控制，并评价其有效性是三一 重工股份有限公司董事会的责任。 二、 注册会计师的责任 我们的责任是在实施审计工作的基础上，对财务报告内部控制的有效性发表 审计意见，并对注意到的非财务报告内部控制的重大缺陷进行披露。 三、 内部控制的固有局限性 内部控制具有固有局限性，存在不能防止和发现错报的可能性。此外，由于 情况的变化可能导致内部控制变得不恰当，或对控制政策和程序遵循的程度降低， 根据内部控制审计结果推测未来内部控制的有效性具有一定风险。 四、 财务报告内部控制审计意见 我们认为，三一重工股份有限公司于 2024 年 ...

Core Viewpoint - The Shanghai Infrastructure Index has shown a decline in performance over various time frames, indicating potential challenges in the infrastructure sector [1][2] Group 1: Index Performance - The Shanghai Infrastructure Index closed at 8015.85 points, with a decrease of 5.05% over the past month, 0.72% over the past three months, and 6.05% year-to-date [1] - The index reflects the overall performance of 50 listed companies in infrastructure-related fields on the Shanghai Stock Exchange, with a base date of December 31, 2004, set at 1000.0 points [1] Group 2: Index Composition - The top ten weighted companies in the index include China State Construction (9.94%), China Railway (9.54%), and China Electric Power Construction (8.11%) among others [1] - The index is composed entirely of companies listed on the Shanghai Stock Exchange, with infrastructure construction making up 53.61%, professional engineering 15.98%, housing construction 15.22%, and engineering machinery 15.19% [2] Group 3: Index Adjustment Mechanism - The index samples are adjusted biannually, with changes implemented on the next trading day following the second Friday of June and December [2] - Weight factors are generally fixed until the next scheduled adjustment, with provisions for temporary adjustments in special circumstances such as delisting or corporate restructuring [2]

Summary of the Conference Call Industry and Company Involved - The conference call focused on the **engineering machinery sector** and the **robotics sector**. - The discussion was led by **Zhang Fan**, the chief analyst for the machinery sector at Huazhong Securities. Key Points and Arguments Engineering Machinery Sector 1. The engineering machinery sector showed a strong performance, with the sector index rising nearly **4.5%** on the day of the call, ranking second among over **130 secondary industry indices** [2][3]. 2. The sector is characterized by its **cyclical nature**, with a confirmed recovery in demand for excavators and other machinery since last year, indicating a bottoming out and upward trend [3][6]. 3. The **March sales data** for excavators is critical, as it is traditionally a strong month, with expectations for positive results driving optimism for the entire year [4][12]. 4. The **domestic sales** of excavators are projected to grow by **25% to 30%** year-on-year for January and February, indicating a stronger-than-expected recovery [8][10]. 5. The overall industry growth forecast has been revised upward from **10%** to **20%** for the year, reflecting improved market conditions [8][10]. 6. The engineering machinery index has increased by over **26%** since mid-January, indicating a sustained bullish trend [6][10]. 7. The potential for **reconstruction demand** in northern regions post-conflict in Ukraine could further boost the sector's performance [5][10]. 8. The outlook for the engineering machinery sector remains positive, with expectations for absolute returns throughout the year [11][12]. Robotics Sector 1. The robotics sector, particularly in **industrial robotics**, has seen significant growth, with domestic brands increasing their market share to over **50%** [30][31]. 2. The integration of **AI** with robotics is a key driver of growth, with advancements in technology leading to increased investor interest and market activity [34][36]. 3. The sector is characterized by a **thematic and stage-based market**, where opportunities arise from catalysts and market sentiment rather than consistent performance metrics [42][43]. 4. The demand for humanoid robots and AI-driven solutions is expected to grow, driven by factors such as aging populations and the need for automation in various sectors [34][43]. 5. The robotics market is still evolving, with many companies exploring opportunities in the humanoid robot space, which is seen as having significant potential for future growth [45][46]. Other Important but Possibly Overlooked Content 1. The engineering machinery sector's recovery is not just a short-term trend but is expected to continue as the market adjusts to new economic conditions and infrastructure needs [22][25]. 2. The discussion highlighted the importance of **supply chain dynamics** and the role of key manufacturers in shaping the industry's future [44][46]. 3. The potential for **export growth** in the engineering machinery sector is also noted, particularly if domestic demand continues to rise [10][24]. 4. The call emphasized the need for investors to remain vigilant about market fluctuations and the cyclical nature of both sectors, suggesting that while growth is expected, there may be periods of volatility [18][19][20].

全国工程机械平均开工率同比增长1.62% "挖掘机指数"折射一季度中国经济起步稳后劲足 《经济参考报》记者日前获悉，三一重工基于树根互联工业互联网平台打造的"挖掘机指数"显示， 今年 一季度全国工程机械平均开工率为44.67%，较去年同期增幅为1.62%，12个省份平均开工率超过50%。今年3 月全国工程机械开工率为53.16%，环比2月上升18.06%，折射出一季度中国经济起步稳、后劲足。 数据显示，今年一季度吊装设备表现最为突出，平均开工率为66.28%，其中，3月吊装设备开工率为 72.53%。树根互联挖掘机指数数据专家刘俊介绍，吊装设备常用于大型设备安装、结构吊装等项目收尾环 节，其开工率高说明更多基建项目在整个一季度集中进行设备调试、主体结构封顶等收尾工作。 在今年一季度可统计样本总工作时长方面，堆高机同比增长28.65%，正面吊同比增长9.92%，超过其他细 分设备。其中，重庆堆高机一季度总工作时长同比增长22.83%，位居同类设备同比增幅全国首位；广西、青 海正面吊总工作时长分别同比增长36.72%、31.81%。 "堆高机和正面吊主要用于集装箱的物流搬运，总工作时长同比大幅度提升，说明西部地区 ...

Core Viewpoint - The "Excavator Index" indicates a stable start and strong momentum for China's economy in the first quarter, with an average operating rate of construction machinery increasing by 1.62% year-on-year [2]. Summary by Sections National Overview - The average operating rate of construction machinery in China for Q1 was 44.67%, showing a year-on-year increase of 1.62%. In March, the operating rate rose to 53.16%, up 18.06% from February, reflecting a solid economic recovery [2]. Equipment Performance - Lifting equipment showed the best performance with an average operating rate of 66.28% in Q1, and 72.53% in March. This high rate indicates that many infrastructure projects were in the final stages of equipment debugging and structural completion [4]. - In terms of working hours, stackers saw a year-on-year increase of 28.65%, while front lifts increased by 9.92%. Notably, Chongqing's stackers had the highest growth rate at 22.83% [4]. Regional Analysis - The central region had an average operating rate of 48.24% in Q1, with lifting equipment at 70.49% and excavators at 58.12%, leading all regions. This growth was driven by policy benefits, major project investments, and industrial upgrades [4]. - The eastern region's average operating rate was 44.70%, with concrete equipment at 41.51%. In March, Fujian's stackers saw a remarkable year-on-year increase of 176.35% [5].

2025年员工持股计划的 法律意见书 致：三一重工股份有限公司 湖南启元律师事务所 关于三一重工股份有限公司 2025 年员工持股计划的 法律意见书 2025 年 4 月 湖南启元律师事务所 关于三一重工股份有限公司 本所（含经办律师）声明如下： （一）本所依据法律、法规、地方政府及部门规章、规范性文件及中国证监 会、上海证券交易所的有关规定以及本《法律意见书》出具日以前已经发生或者 存在的事实发表法律意见。 （二）为出具本《法律意见书》，本所律师查阅了《三一重工股份有限公司 2025年员工持股计划（草案）》（以下简称"《员工持股计划（草案）》"）《三 一重工股份有限公司2025年员工持股计划管理办法》（以下简称"《员工持股计 划管理办法》"）以及本所律师认为需要审查的其他文件，对相关事实和资料进 行了核查和验证。 （三）本所出具法律意见是基于公司已向本所保证：公司已向本所提供了本 湖南启元律师事务所（以下简称"本所"）接受三一重工股份有限公司（以 下简称"公司"、"三一重工"）的委托，作为公司2025年员工持股计划项目（以 下简称"本次员工持股计划"、"员工持股计划"）专项法律顾问。 本所律师根据《中华人民 ...

2025 年第二次临时股东大会会议议案 三一重工股份有限公司 2025 年 4 月 21 日 | 议案一 1 | | --- | | 关于公司发行 股股票并在香港联合交易所有限公司上市的议案 1 H | | 议案二 2 | | 关于公司发行 H 股股票并在香港联合交易所有限公司上市方案的议案 2 | | 议案三 6 | | 关于公司发行 H 股股票并在香港联合交易所有限公司上市决议有效期的议案 6 | | 议案四 7 | | 关于公司发行 H 股股票募集资金使用计划的议案 7 | | 议案五 8 | | 关于公司转为境外募集股份有限公司的议案 8 | | 议案六 9 | | 关于授权董事会及其授权人士全权处理与本次发行 股股票并在香港联合交易所有限公司 H | | 主板上市有关事项的议案 9 | | 议案七 18 | | 关于公司发行 H 股股票前滚存利润分配方案的议案 18 | | 议案八 19 | | 关于制定公司发行 H 股股票并上市后适用的《公司章程（草案）》及相关议事规则（草案） | | 的议案 19 | | 议案九 21 | | 关于修订公司发行 H 股股票并在香港联合交易所有限公司上市后生效的公 ...

金融界4月14日消息，上证指数高开高走，上证优势制造产业指数 (优势制造，000146)上涨0.42%，报 6030.74点，成交额268.9亿元。 从指数持仓来看，上证优势制造产业指数十大权重分别为：三一重工（6.29%）、国电南瑞 （5.27%）、隆基绿能（4.74%）、中国中车（4.67%）、中国船舶（4.59%）、江淮汽车（4.42%）、特 变电工（4.26%）、中航沈飞（3.61%）、中国重工（3.54%）、通威股份（3.44%）。 从上证优势制造产业指数持仓的市场板块来看，上海证券交易所占比100.00%。 从上证优势制造产业指数持仓样本的行业来看，发电设备占比27.29%、交通运输设备占比24.13%、航 空航天占比15.17%、电网设备占比13.88%、通用机械占比9.96%、专用机械占比8.26%、储能设备占比 1.32%。 资料显示，指数样本每半年调整一次，样本调整实施时间分别为每年6月和12月的第二个星期五的下一 交易日。权重因子随样本定期调整而调整，调整时间与指数样本定期调整实施时间相同。在下一个定期 调整日前，权重因子一般固定不变。特殊情况下将对指数进行临时调整。当样本退市时，将其从 ...

Investment Rating - The report maintains a "Positive" outlook for the machinery industry [4] Core Insights - In March 2025, domestic excavator sales exceeded expectations, with a total of 29,590 units sold, representing a year-on-year increase of 18.5%. Domestic sales accounted for 19,517 units, up 28.5% year-on-year, while exports reached 10,073 units, a 2.87% increase [1] - The increase in domestic excavator sales is attributed to stock demand renewal and policy funding support, with small excavators showing faster growth [1] - The ongoing tariff conflicts are expected to drive opportunities for domestic production and internal demand development, as high tariffs on imports from the U.S. may lead to a significant reduction in imported goods, benefiting domestic products [2] Summary by Sections Excavator Sales Performance - In the first three months of 2025, a total of 61,372 excavators were sold, marking a 22.8% year-on-year increase. Domestic sales for the same period reached 36,562 units, up 38.3%, while export sales were 24,810 units, a 5.49% increase, with exports accounting for 40.4% of total sales [1] Tariff Impact and Domestic Opportunities - The report outlines the escalation of U.S. tariffs on Chinese goods, which could lead to a decline in imports from the U.S. and create opportunities for domestic products, particularly in machinery and electrical equipment sectors [2] - Suggested focus areas include agricultural machinery, engineering machinery, coal machinery, instrumentation, and domestic robotic systems [2] Investment Recommendations - The report recommends attention to various companies within the machinery sector, including: - Engineering Machinery: Zhonglian Heavy Industry (000157, Buy), Anhui Heli (600761, Buy) [2] - Industrial Equipment: Yizumi Precision Machinery (300415, Buy) [2] - Energy Equipment: Jereh Petroleum Equipment (002353, Buy), Zhengzhou Coal Mining Machinery (601717, Buy) [2] - Service & Consumption: Yongchuan Intelligent (603901, Buy) [2]

投资要点 2025 年一季度：周期成长，百花齐放；重视工程机械、人形机器人等 1、主线一：周期反转 【工程机械】反转逻辑加强，海外国内共振；【船舶】景气上行，盈利改善；【工业气体】气价历史低 位，拐点即将来临；【检测检验】需求逐步改善，有望拐点向上；【轨交装备】铁路固定资产投资稳步 推进，景气持续；【机床刀具】周期复苏、国产替代、出海、新领域。 2、主线二：成长崛起 【人形机器人】日新月异，内外并进；【半导体设备】先进扩产、国产提速；【低空经济】低空翱翔， 拉开序幕。 3、主线三：供应全球 【出口链】库存扰动解除，降息接力复苏；【油服装备】景气持续，聚焦海上、出海。 2024 年机械子行业业绩前瞻/回顾：工程机械行业盈利能力改善明显，五大主机厂实现利润正增；船舶 行业盈利能力逐步修复，景气上行。 2025 年第一季度机械子行业业绩前瞻：工程机械有望开门红，出口链业绩释放，船舶景气持续，工业 气体、光伏设备筑底。 工程机械：反转逻辑持续验证中，海外市占率提升，国内更新周期有望逐步开启1、3 月挖掘机国内销 量同比增长28.5%；重视工程机械一季度旺季行情2025 年3 月挖掘机总销量29590 台，同比增长18 ...