Financial Performance - The company's operating revenue for Q1 2025 was CNY 4,922,186,061.66, representing a 23.69% increase compared to CNY 3,979,381,079.69 in the same period last year[3]. - Net profit attributable to shareholders was CNY 46,761,319.43, a significant increase of 164.79% from CNY 17,659,531.77 year-on-year[3]. - Basic earnings per share increased to CNY 0.07, up 250.00% from CNY 0.02 in the same period last year[3]. - Total comprehensive income for Q1 2025 was ¥61,066,380.29, compared to ¥39,054,183.50 in Q1 2024, indicating a 56.5% increase[16]. - Operating profit for Q1 2025 was ¥60,069,311.43, compared to ¥32,325,616.33 in Q1 2024, marking an 85.8% increase[15]. Cash Flow and Liquidity - The net cash flow from operating activities reached CNY 402,420,339.91, a turnaround from a negative cash flow of CNY -49,037,256.84 in the previous year[3]. - Cash flow from operating activities generated a net amount of ¥402,420,339.91 in Q1 2025, a significant recovery from a net outflow of ¥49,037,256.84 in Q1 2024[20]. - Cash and cash equivalents decreased to RMB 5,731,955,632.23 from RMB 6,233,876,853.55, representing a decline of approximately 8.05%[12]. - Cash and cash equivalents at the end of Q1 2025 totaled ¥4,908,546,861.60, down from ¥5,666,012,848.44 at the end of Q1 2024[21]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 27,845,604,588.77, reflecting a 1.87% increase from CNY 27,333,178,820.72 at the end of the previous year[3]. - The company's current assets totaled RMB 19,792,196,410.66, compared to RMB 19,147,576,907.41 at the end of 2024, indicating an increase of about 3.37%[12]. - The company's total liabilities reached RMB 23,918,209,313.32, up from RMB 23,027,308,666.76, marking an increase of around 3.87%[13]. - The total equity attributable to shareholders decreased to RMB 3,144,010,829.40 from RMB 3,249,462,762.74, a decline of about 3.23%[13]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 57,611[8]. - The top shareholder, a state-owned entity, holds 32.25% of the shares, totaling 231,227,846 shares[8]. Research and Development - The company's R&D expenses increased by 32.25%, indicating a continued investment in new technologies and products[6]. - Research and development expenses increased to ¥169,039,343.51 in Q1 2025, compared to ¥127,819,904.79 in Q1 2024, reflecting a 32.2% rise[15]. Investment Income - The company reported a significant increase in investment income by 105.34%, primarily due to an increase in the scale of redeemed financial products[6]. - Investment activities resulted in a net cash outflow of ¥197,258,037.60 in Q1 2025, an improvement from a net outflow of ¥491,831,895.43 in Q1 2024[20]. Inventory and Receivables - The inventory increased significantly to RMB 2,887,187,418.25 from RMB 2,063,288,075.72, reflecting a growth of approximately 40%[12]. - The accounts receivable rose to RMB 4,708,849,600.56 from RMB 4,573,734,490.29, an increase of about 2.95%[12]. Future Outlook - The total revenue for the first quarter of 2025 is yet to be disclosed, but the company is expected to provide guidance in future reports[14]. - The company is focusing on expanding its market presence and enhancing its product offerings, although specific new products or technologies were not detailed in the current report[14].

Financial Performance - The company's operating revenue for 2024 reached ¥22,965,580,624.89, an increase of 18.38% compared to ¥19,399,848,164.77 in 2023[24] - The net profit attributable to shareholders of the listed company was ¥157,743,263.44, a significant increase of 110.05% from ¥75,096,755.96 in the previous year[24] - The net cash flow from operating activities was ¥1,250,751,243.89, a decrease of 47.23% compared to ¥2,370,075,565.36 in 2023[24] - The total assets at the end of 2024 amounted to ¥27,333,178,820.72, reflecting a 3.70% increase from ¥26,359,068,092.87 at the end of 2023[24] - The revenue from core business activities, after excluding unrelated income, was ¥21,864,530,440.65, up 22.59% from ¥17,835,236,892.87 in 2023[24] - The net assets attributable to shareholders increased by 3.92% to ¥3,249,462,762.74 at the end of 2024, compared to ¥3,126,922,347.84 at the end of 2023[24] - The company achieved a basic earnings per share of CNY 0.22 in 2024, a 144.44% increase compared to CNY 0.09 in 2023[25] - The company reported a weighted average return on equity of 4.95% in 2024, up from 1.97% in 2023[25] - The operating profit increased by 66.87% to ¥276,935,248.70, driven by revenue growth and improved gross profit margin[53] - The gross profit margin for the automotive and body parts segment improved by 0.19 percentage points to 9.65%[58] Dividends and Shareholder Returns - The company plans to distribute a cash dividend of ¥0.60 per 10 shares, totaling ¥43,022,845.02, which represents 36.37% of the net profit attributable to shareholders[6] - The company has established a shareholder return plan for the next three years (2024-2026) to enhance cash returns to investors[107] - The company has maintained a stable profit distribution policy, aligning with regulatory guidelines for cash dividends[107] - The company approved a cash dividend of CNY 57,363,793.36, which represents 36.37% of the net profit attributable to ordinary shareholders in the consolidated financial statements[137] - The total cash dividends paid over the last three fiscal years amounted to ¥82,460,452.96[139] Sales and Market Performance - The company sold 50,100 buses during the reporting period, representing a year-on-year growth of 19.07%[33] - Sales of new energy buses reached 21,100 units, marking a year-on-year increase of 42.61%[33] - The company reported a net profit attributable to shareholders of CNY 81,350,811.88 in the fourth quarter of 2024[26] - The company achieved a sales volume of 10,554 units for public buses, with a revenue of 816,964.40 million RMB[80] - The total sales of new energy buses reached 21,105 units, generating a revenue of 1,100,577.36 million RMB[79] - The sales of pure electric vehicles increased by 46.46% year-on-year, totaling 20,698 units, while production rose by 29.11% to 20,440 units[78] - The company expects a total bus sales volume of 50,104 units in 2024, representing a significant year-on-year growth[84] - The domestic sales of large buses rose by 23.33%, while medium buses increased by 79.08%[76] Research and Development - The company plans to enhance its R&D investment, focusing on key components for new energy vehicles and intelligent network systems[33] - The company has a total of 1,778 R&D personnel, accounting for 14.47% of its workforce, and holds 1,403 effective authorized patents, including 315 invention patents[44][45] - Research and development expenses rose by 9.93% to ¥823,260,453.62, indicating continued investment in innovation[53] - The company has developed new product platforms for series tourism commuter buses and light commercial vehicles, as well as high-efficiency new energy power drive systems[39] - The company has made significant advancements in intelligent connected technology and autonomous driving solutions, enhancing vehicle safety and user experience[41] Environmental and Social Responsibility - The company invested ¥1,949.44 million in environmental protection during the reporting period[144] - The company has implemented comprehensive pollution control measures for VOCs, ensuring that emissions meet national standards[156] - The company has not experienced any major environmental pollution incidents, indicating effective management of pollution control facilities[155] - The company continues to invest in energy-saving and emission-reduction initiatives, reinforcing its commitment to green development[155] - The company has established self-monitoring plans for environmental protection, with all monitoring results meeting standards[171] Governance and Management - The company has organized various training sessions for its board members and executives to improve governance and legal awareness[108] - The company has established specialized committees, including an audit committee and a compensation committee, to enhance oversight and strategic direction[125] - The company’s governance structure includes independent directors who provide oversight and strategic guidance[117] - The company has a diverse board with members having extensive experience in various sectors, including finance and automotive[114] - The company’s management team includes individuals with significant experience in investment and project management, contributing to its operational efficiency[116] Risks and Challenges - The company has outlined potential risks in its report, advising investors to be cautious regarding future plans[10] - The company is facing risks from macroeconomic factors, market competition, and supply chain stability, which may impact growth and profitability[98][99][102] - The company emphasizes the importance of risk management across various aspects, including market, financial, and compliance risks, to ensure sustainable development[98] Shareholder Structure - The largest shareholder, Fujian Automotive Industry Group Co., Ltd., holds 231,227,846 shares, representing 32.25% of total shares[200] - The top ten shareholders collectively hold a significant portion of the company's shares, with the largest three shareholders being state-owned enterprises[200] - The overall shareholder structure reflects a strong presence of state-owned entities in the company's ownership[200] - The number of ordinary shareholders increased from 57,611 to 64,610 during the reporting period[198]

2024 年度营业收入扣除情况的 专项审核报告 厦门金龙汽车集团股份有限公司 容诚专字[2025]361Z0281 号 容诚会计师事务所(特殊普通合伙) 中国·北京 | | | | 序号 | 内 | 容 | 页码 | | --- | --- | --- | --- | | 1 | 营业收入扣除情况的专项审核报告 | | 1-3 | | 2 | 营业收入扣除情况表 | | 4 | 容诚会计师事务所（特殊普通合伙） 总所：北京市西城区阜成门外大街 22 号 1 幢 10 层 1001-1 至 1001-26 (100037) TEL:010-6600 1391 FAX:010-6600 1392 E-mail:bj@rsmchina.com.cn https://www.rsm.global/china/ 关于厦门金龙汽车集团股份有限公司 2024 年度营业收入扣除情况的专项审核报告 容诚专字[2025]361Z0281 号 按照《上海证券交易所股票上市规则》和《上海证券交易所上市公司自律监 管指南第 2 号——业务办理：第七号——财务类退市指标：营业收入扣除》的有 关规定编制营业收入扣除情况表是金龙汽车公司管理 ...

厦门金龙汽车集团股份有限公司 对会计师事务所 2024 年度履职情况的评估报告 厦门金龙汽车股份有限公司（以下简称公司）聘请容诚会计师事务所（特殊 普通合伙）（以下简称容诚事务所）作为公司 2024 年度财务及内部控制审计机 构。根据《公司法》《证券法》《上市公司治理准则》《国有企业、上市公司选 聘会计师事务所管理办法》等规定和要求，公司对容诚事务所 2024 年审计过程 中的履职情况进行了评估。经评估，公司认为容诚事务所在资质等方面合规有效， 履职保持独立性，勤勉尽责，公允表达意见。具体情况如下： 一、2024 年度审计会计师事务所基本情况 容诚会计师事务所（特殊普通合伙）由原华普天健会计师事务所（特殊普通 合伙）更名而来，初始成立于 1988 年 8 月，2013 年 12 月 10 日改制为特殊普通 合伙企业，是国内最早获准从事证券服务业务的会计师事务所之一，长期从事证 券服务业务。注册地址为北京市西城区阜成门外大街 22 号 1 幢 10 层 1001-1 至 1001-26，首席合伙人刘维。 二、执业记录 （一）项目成员信息 项目合伙人：黄印强，1995 年成为中国注册会计师，2000 年开始从事上 ...

厦门金龙汽车集团股份有限公司董事会 根据中国证券监督管理委员会《上市公司独立董事管理办法》、上海证券交 易所《上海证券交易所股票上市规则》《上海证券交易所上市公司自律监管指引 第 1 号——规范运作》等相关规定要求，厦门金龙汽车集团股份有限公司（以下 简称公司）董事会就公司现任独立董事叶盛基、赵蓓、张盛利的独立性情况进行 评估，并出具如下专项意见： 2025 年 4 月 24 日 厦门金龙汽车集团股份有限公司董事会 经核查独立董事叶盛基、赵蓓、张盛利的任职经历以及其签署的相关自查文 件，上述人员未在公司担任除独立董事以外的任何职务，也未在公司主要股东公 司担任任何职务，与公司以及主要股东之间不存在利害关系或其他可能妨碍其进 行独立客观判断的关系。公司董事会认为独立董事叶盛基、赵蓓、张盛利符合《上 市公司独立董事管理办法》《上海证券交易所上市公司自律监管指引第 1 号—— 规范运作》中对独立董事独立性的相关要求。 关于独立董事独立性核查专项意见 ...

证券代码：600686 证券简称：金龙汽车 编号：2025-018 厦门金龙汽车集团股份有限公司关于2025年1-3月份委托理财情况的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、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法律责任。 ● 履行的审议程序：厦门金龙汽车集团股份有限公司（以下简称"公司"）第十一届董事会第四次会议审 议，根据该议案，为提高资金使用效率，降低财务成本，在确保资金安全的前提下，公司及下属子公司 可使用暂时闲置自有资金用于购买金融机构（包括银行、证券、基金、信托等）的固定收益或低风险的 短期理财产品，理财期限一年以内。 重要内容提示： ● 委托理财受托方：中国建设银行股份有限公司；中国光大银行股份有限公司；中国银行股份有限公 司；中国工商银行股份有限公司；中国民生银行；兴业银行股份有限公司；招商银行股份有限公司；中 信银行股份有限公司；上海浦东发展银行股份有限公司；厦门银行股份有限公司；苏州银行股份有限公 司；华夏银行股份有限公司；渤海银行股份有限公司；厦门国际银行股份有限公司。 ● 本次委托理财金额：427,900万元 ● 委托理财产品名称：聚赢汇 ...

未经许可，不得转载或者引用。 投资要点 客车这轮大周期驱动因素是什么？ 一句话总结：客车代表中国汽车制造业将成为【技术输出】的世界龙头。这不是梦想而是会真 真切切反应到报表层面。海外市场业绩贡献对客车行业在3-5年会至少再造一个中国市场。背 后支撑因素： 1）天时： 符合国家【中特估】大方向，客车是【一带一路】的有力践行者，已有10余年的出 海经验，在新的国际形势变化下，将进一步跟紧国家战略，让中国优势制造业【走出去】。 2）地利： 客车的技术与产品已经具备世界一流水平。新能源客车产品维度，中国客车已领先 海外竞争对手。传统客车维度，技术已不亚于海外且具备更好性价比及服务。 3）人和： 国内市场价格战结束不会成为拖累反而会共振。过去6-7年国内客车"高铁冲击+新能 源公交透支+三年疫情"三重因素叠加经历了长期的价格战，2022下半年宇通已率先提价，且需 求本身得益【旅游复苏+公交车更新需求】有望重回2019年水平。 客车这轮盈利能创新高吗？我们认为并不是遥不可及。 1）国内没有价格战。2）寡头龙头格局。3）海外无论新能源还是油车净利率远好于国内（无 需投固定资产）。4）碳酸锂成本持续下行。 客车这轮市值空间怎 ...

证券代码：600686 证券简称：金龙汽车 编号：2025-018 厦门金龙汽车集团股份有限公司 关于 2025 年 1-3 月份委托理财情况的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、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法律责任。 重要内容提示： 委托理财受托方：中国建设银行股份有限公司；中国光大银行股份有限公司； 中国银行股份有限公司；中国工商银行股份有限公司；中国民生银行；兴业银 行股份有限公司；招商银行股份有限公司；中信银行股份有限公司；上海浦东 发展银行股份有限公司；厦门银行股份有限公司；苏州银行股份有限公司；华 夏银行股份有限公司；渤海银行股份有限公司；厦门国际银行股份有限公司。 本次委托理财金额：427,900 万元 委托理财产品名称：聚赢汇率 － 挂 钩 欧 元 对 美 元 汇 率 结 构 性 存 款 （SDGA250820Z）；2025 年挂钩汇率对公结构性存款定制第一期产品 151；聚 赢汇率挂钩欧元对美元汇率结构性存款（SDGA250066Z）；兴业银行企业金融 人民币结构性存款产品；厦门银行股份有限公司结构性存款；中国建设银行厦 门市分行 ...

Group 1: Market Overview - The domestic bus market has been rapidly activated due to a series of favorable policies, with cumulative sales reaching 511,000 units in 2024, a year-on-year increase of 3.9% [2] - Sales of buses over 6 meters have seen a significant increase, with cumulative sales of 126,000 units in 2024, marking a year-on-year growth of 33.4%, the highest in 20 years [2] - The "old-for-new" policy is expected to continue driving growth in 2025, with first-quarter sales reaching 125,000 units, a year-on-year increase of 9.8% [2] Group 2: Company Performance - In 2024, major bus manufacturers reported positive growth in both sales and revenue, with King Long Automobile achieving over 50,000 units sold, a 19.07% increase; Yutong Bus with approximately 46,900 units, a 28.48% increase; Zhongtong Bus with 11,400 units, a 51.49% increase; and Ankai Bus with about 5,837 units, a 34.87% increase [3] - Yutong Bus reported revenue of 37.218 billion yuan in 2024, a year-on-year increase of 37.63%, with net profit rising by 126.53% to 4.116 billion yuan [3] - Ankai Bus achieved revenue of 2.735 billion yuan, a 27.43% increase, and turned a profit with a net profit of 839,200 yuan [3] Group 3: Policy Impact - The National Development and Reform Commission and the Ministry of Finance have introduced measures to support the replacement of buses over 8 years old, with subsidies of 60,000 yuan per vehicle [4] - The implementation of these policies has led to a significant increase in sales, with the total sales of 24 key companies in the new energy bus sector doubling in October and December 2024 [4] - The average subsidy for replacing old buses has been increased to 80,000 yuan, with some provinces offering even higher subsidies, such as Jiangsu's 120,000 yuan for old buses replaced with new energy buses [5] Group 4: Future Growth Drivers - The continuation of the "old-for-new" policy is expected to stimulate a new round of updates in the bus market, with a longer implementation period and stronger effects anticipated in 2025 [7] - The export market is projected to become a new growth driver, with domestic bus exports reaching a record high of 44,500 units in 2024, a 38% increase [8] - The recovery of the tourism economy is expected to significantly boost demand for tourist buses, with sales of tour buses increasing by 24.34% in 2024 [8]

Group 1 - Xpeng Motors has completed the construction of its new manufacturing base in Wuhan, which covers over 1 million square meters and is expected to enhance production capacity and supply chain management [1] - The total assessed value of the assets mortgaged for long-term bank loans, including the Guangzhou, Zhaoqing factories, and Wuhan base, amounts to 5.36 billion yuan [1] Group 2 - King Long Automobile's chairman, Xie Siyu, has resigned from his positions due to work changes, but this will not affect the normal operation of the board [2] - The leadership change may prompt market interest in the company's future strategic direction and management stability [2] Group 3 - Mazda will suspend production of the CX-50 model at its Alabama plant for the Canadian market starting May 12, in response to import tariff pressures [3] - This decision may impact Mazda's competitiveness in the North American market and affect dealer inventory and sales [3] Group 4 - Ferrari's CEO, Benedetto Vigna, confirmed the company's commitment to developing gasoline, hybrid, and fully electric vehicles, providing customers with a wide range of options [4] - This strategy is expected to enhance Ferrari's competitiveness in the luxury car segment and solidify its market position [4] Group 5 - Huawei's new brand "Shangjie" was unveiled at the Hongmeng Intelligent Mobility product launch, showcasing the company's investment in the smart automotive sector [5] - The brand aims to implement Huawei's smart travel solutions and adhere to strict quality management standards, with the first product expected to debut in the fall [5]