证券代码：600761 证券简称：安徽合力 公告编号：临 2025-017 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个别及连带责任。 重要内容提示： 每股派发现金红利 0.6 元。 本次利润分配以实施权益分派股权登记日登记的总股本为基数，具体日 期将在权益分派实施公告中明确。 本次利润分配方案尚需提交公司 2024 年年度股东会审议。 一、利润分配方案内容 （一）利润分配方案的具体内容 经立信会计师事务所(特殊普通合伙)（信会师报字[2025]第 ZG10855 号）标 准无保留意见的审计报告确认，公司 2024 年度合并财务报表实现营业收入 17,325,421,119.86 元，实现归属于母公司所有者的净利润 1,319,631,588.87 元。根据《公司章程》规定，2024 年度公司计提法定盈余公积金 115,713,613.13 元，不计提任意盈余公积。 安徽合力股份有限公司 关于 2024 年度利润分配预案的公告 | 分红总额（元） | | | --- | --- | | 最近三个会计年度累计回购 | 0.00 | | ...

Financial Performance - The company's operating revenue for 2024 reached ¥17.33 billion, a 0.99% increase compared to ¥17.16 billion in 2023[33]. - Net profit attributable to shareholders for 2024 was ¥1.32 billion, reflecting a slight increase of 0.18% from ¥1.32 billion in 2023[33]. - The net cash flow from operating activities decreased significantly by 67.83% to ¥473.23 million in 2024 from ¥1.47 billion in 2023[33]. - The total assets of the company increased by 11.01% to ¥19.11 billion at the end of 2024, compared to ¥17.21 billion at the end of 2023[33]. - The net assets attributable to shareholders rose by 29.16% to ¥10.27 billion in 2024 from ¥7.95 billion in 2023[33]. - Basic earnings per share for 2024 were ¥1.59, down 10.67% from ¥1.78 in 2023[34]. - The weighted average return on equity decreased to 14.04% in 2024, down 3.73 percentage points from 17.77% in 2023[34]. - The diluted earnings per share for 2024 were ¥1.48, a slight decrease of 0.67% from ¥1.49 in 2023[34]. - The company reported a decrease of 5.84% in net profit after deducting non-recurring gains and losses, amounting to ¥1.04 billion in 2024 compared to ¥1.10 billion in 2023[33]. - The company achieved operating revenue of 17.325 billion RMB, a year-on-year increase of 0.99%[44]. - The net profit attributable to shareholders was 1.32 billion RMB, reflecting a year-on-year growth of 0.18%[44]. - Operating costs decreased by 1.06% to 13.26 billion RMB[80]. Market Expansion and Product Development - The company achieved record-high economic indicators for the year, continuing its leading position in the industry for 34 consecutive years[5]. - The company developed the world's largest 55t lithium electric forklift and a -55℃ ultra-low temperature cold storage model, breaking foreign brand monopolies[6]. - The company’s overall machine exports increased by 34% year-on-year, supported by the establishment of 28 provincial marketing companies and over 500 sales service outlets[8]. - The company completed the acquisition of Yufeng Intelligent and other companies to enhance its smart logistics industry chain and reduce related transactions[9]. - The company sold 340,200 units of machinery, representing a year-on-year increase of 16.53%[45]. - The export of machinery reached 126,400 units, with a significant year-on-year growth of 34.08%[46]. - The company developed 42 new low-temperature models suitable for -55℃ operations, breaking foreign brand monopolies[44]. - The company has over 30 tonnage levels and 1,000 product categories in its industrial vehicle segment, covering a wide range of applications[55]. - The company has developed intelligent logistics systems, including CCS, WMS, and AGV products, successfully applied in various industries[67]. Research and Development - The company received 363 patent authorizations during the year, including 134 invention patents, and participated in the formulation of multiple national and international standards[6]. - The company holds 3,628 valid patents, including 462 invention patents, and has participated in the formulation of 72 national standards[70]. - Research and development expenses increased by 14.02% to approximately 1.09 billion RMB[82]. - The total R&D expenditure for the period was 108,578.07 million RMB, accounting for 6.27% of the operating revenue[94]. - The company has 1,511 R&D personnel, representing 14.15% of the total workforce[95]. Sustainability and ESG Initiatives - The company’s ESG rating improved to A, and it was recognized as one of the "Top 500 Most Valuable Brands in China"[10]. - The company is focused on sustainable development, accelerating the industrialization of hybrid, lithium battery, and hydrogen fuel forklifts[9]. - The company implemented a sustainable development strategy, achieving annual energy savings of over 700 tons of standard coal and generating approximately 18 million kWh from new distributed photovoltaic power stations[51]. - The company is committed to improving its waste management practices and reducing environmental impact through ongoing monitoring and compliance efforts[160]. - The company invested a total of 173.4 million yuan in social responsibility projects, benefiting 506 individuals[170]. Corporate Governance and Management - The company’s management team remains stable, with no significant changes in shareholdings among key executives during the reporting period[123]. - The board of directors includes a diverse group of professionals with extensive industry experience[126]. - The company has established a performance assessment system for its senior management, which aligns with the provincial regulations[130]. - The company has established specialized committees, including the audit committee, nomination committee, and compensation and assessment committee[137]. - The company has a clear governance structure with a focus on performance-based remuneration for its executives[130]. Financial Strategy and Investments - The company plans to invest in the acquisition of Anhui Yufeng Intelligent Technology Co., Ltd. and increase capital in several subsidiaries, including Anqing Heli Axle Co., Ltd. and Anhui Heding Electromechanical Equipment Co., Ltd.[105]. - The company plans to establish a European headquarters and an overseas R&D center in Germany to enhance its international presence[105]. - The company has proposed to apply for a comprehensive credit line of 5 billion yuan from banks[134]. - The company plans to terminate the public issuance of convertible bonds for the "New Energy Vehicle Construction Project" and "Intelligent Factory Phase II Project," reallocating the remaining estimated funds of 150 million yuan to the "Hefei (Liang'an) High-end Casting and Deep Processing R&D Manufacturing Base Project"[195]. - The total amount of raised funds is 2,043.75 million yuan, with a net amount of 2,043.18 million yuan after deductions[195]. Environmental Compliance - The company is classified as a key pollutant discharge unit, with specific emissions monitored and controlled according to environmental regulations[158]. - The company has implemented measures to control VOC emissions, with a maximum allowable concentration of 70 mg/m³ for non-methane total hydrocarbons[159]. - The company is compliant with national wastewater discharge standards, including GB8978-1996[159]. - The company has a wastewater treatment station that processes effluent before discharge into municipal sewage networks[159]. - The company has established a hazardous waste management ledger and electronic transfer documents for hazardous waste disposal[159]. Shareholder Engagement and Dividends - The company plans to distribute a cash dividend of 6.00 CNY per 10 shares, totaling 534,415,656.60 CNY, based on a total share capital of 890,692,761 shares[14]. - The cash dividend amount for the reporting period is CNY 534,415,656.60, which accounts for 40.50% of the net profit attributable to ordinary shareholders in the consolidated financial statements, amounting to CNY 1,319,631,588.87[150]. - The cumulative cash dividend amount over the last three accounting years is CNY 1,304,026,743.00, with an average net profit of CNY 1,167,300,173.94, resulting in a cash dividend ratio of 111.71%[152].

证券代码：600761 证券简称：安徽合力 公告编号：临 2025-015 安徽合力股份有限公司 关于为公司产品融资租赁销售提供回购担保 暨关联交易的公告 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个别及连带责任。 重要内容提示： 被担保人名称：公司融资租赁业务客户。 公司拟继续与安徽合泰融资租赁有限公司（以下简称"合泰租赁"）开展 合作，向相关用户通过融资租赁的模式销售产品，并按一定比例为融资租赁销售 的产品余值提供回购担保。2025 年度，公司拟为合泰租赁开展的公司产品融资 租赁业务提供 9 亿元回购担保额度。 2024 年，公司与合泰租赁开展融资租赁等相关业务合作产生的关联交易 金额为 23,343.54 万元。 一、交易概述 2025 年 4 月 3 日，公司第十一届董事会第十一次会议审议通过了《关于为公 司产品融资租赁销售提供回购担保暨关联交易的预案》，为满足公司客户融资需 求，通过融资租赁方式为其提供金融服务，进一步促进公司产品市场销售，公司 决定与合泰租赁开展相关产品融资租赁销售合作。2025 年度，公司为上述融资 租 ...

Financial Performance - The company's basic earnings per share for 2024 is 1.5900 yuan, a decrease of 10.67% compared to 1.7800 yuan in 2023 [1] - The net profit for 2024 is 13.2 billion yuan, slightly up from 13.17 billion yuan in 2023, reflecting a 0.23% increase [1] - The return on equity (ROE) has decreased to 14.04% from 17.56% in the previous year, indicating a decline of 20.05% [1] - The total revenue for 2024 is reported at 173.25 billion yuan, a marginal increase of 0.99% from 171.56 billion yuan in 2023 [1] Shareholder Structure - The top ten unrestricted shareholders hold a total of 42,884.83 million shares, accounting for 48.15% of the circulating shares, with an increase of 2,491.36 million shares compared to the previous period [1] - Anhui Forklift Group Co., Ltd. remains the largest shareholder with 31,291.47 million shares, representing 35.13% of the total share capital, with no change in its holdings [2] - New entrants among the top shareholders include the National Social Security Fund 113 Portfolio, holding 2,295.14 million shares (2.58%) [2] Dividend Distribution - The company has announced a dividend distribution plan of 10 yuan per share, including tax [3]

证券代码：600761 证券简称：安徽合力 公告编号：临 2025-010 安徽合力股份有限公司 关于使用部分暂时闲置募集资金 进行现金管理的进展公告 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个别及连带责任。 重要内容提示： 一、前次使用部分暂时闲置募集资金进行现金管理到期赎回情况 2025 年 1 月 20 日，公司认购了民生银行聚赢黄金-挂钩黄金 AU9999 结构性 存款（编号：SDGA******Z），认购金 6,000 万元，具体内容详见公司于 2025 年 1 月 22 日披露于上海证券交易所网站（www.sse.com.cn）的《公司关于使用 部分暂时闲置募集资金进行现金管理的进展公告》（临 2025-006）。3 月 12 日， 公司对上述结构性存款产品进行了到期赎回，收回本金人民币 6,000 万元，获得 收益人民币 12.81 万元。 1 本次现金管理产品种类：结构性存款。 本次现金管理受托方：兴业银行股份有限公司合肥分行（以下简称"兴业银 行"）。 本次现金管理金额：6,000 万元。 本次现金管理产品名称及 ...

[Table_Reportdate] 2025年03月13日 [晨会纪要 Table_NewTitle] 20250313 [证券分析师： Table_Authors] 吴骏燕 S0630517120001 wjyan@longone.com.cn 证券分析师： 王洋 S0630513040002 wangyang@longone.com.cn 证券分析师： 刘思佳 S0630516080002 liusj@longone.com.cn [table_main] 重点推荐 财经要闻 晨 会 纪 要 证券研究报告 HTTP://WWW.LONGONE.COM.CN 请务必仔细阅读正文后的所有说明和声明 [Table_Report] ➢ 1.安徽合力（600761）：首次海外合资建厂，全球化布局加速——公司简评报告 ➢ 2.制冷剂价格稳步上行，未来空间广阔——氟化工行业月报 ➢ 1.国常会：讨论通过《国务院2025年重点工作分工方案》 ➢ 2.美国对所有进口钢铁和铝征收25%关税正式生效 ➢ 3.美国2月CPI及核心CPI低于预期 | 1. 重点推荐 | 3 | | --- | --- | | 1.1. 安徽合力 ...

Investment Rating - The report maintains a "Buy" rating for the company [10] Core Views - The company plans to invest in a factory in Thailand, aiming to enhance its overseas market share with an annual production capacity of 10,000 forklifts and 10,000 lithium battery packs [2] - The forklift industry is expected to see a recovery in demand due to increased investment in manufacturing and logistics, as well as rising labor costs [3] - The company is advancing its smart logistics business, which is anticipated to become a second growth curve through partnerships with technology firms like Huawei [4] Financial Projections - Total revenue is projected to grow from 17,471 million RMB in 2023 to 22,260 million RMB in 2026, with a compound annual growth rate (CAGR) of approximately 10.76% [11] - Net profit attributable to the parent company is expected to increase from 1,278 million RMB in 2023 to 1,808 million RMB in 2026, reflecting a growth rate of 40.89% in 2023 [11] - The latest diluted earnings per share (EPS) is forecasted to rise from 1.43 RMB in 2024 to 2.03 RMB in 2026 [10][11] Market Position and Strategy - The company is actively expanding its global footprint, having established several subsidiaries in Europe, Australia, and South America, with a focus on enhancing brand image and service channels [2] - The report highlights the potential for increased lithium battery adoption in forklifts, with current rates at 19% in China and 13% overseas, indicating significant room for growth [3] - The company is also focusing on digital transformation and smart logistics, which are expected to drive future revenue growth [4]

证券代码：600761 证券简称：安徽合力 公告编号：临 2025-009 安徽合力股份有限公司 关于使用部分暂时闲置募集资金进行现金管理 到期赎回的公告 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个别及连带责任。 2025 年 1 月 17 日，安徽合力股份有限公司（以下简称"公司"）第十一届 董事会第八次会议审议通过了《关于使用部分暂时闲置募集资金进行现金管理的 议案》，在确保不影响募投项目建设和募集资金使用的前提下，使用部分暂时闲 置募集资金进行现金管理，现金管理总额不超过人民币 75,000 万元（含），用 于购买结构性存款、大额存单等安全性高及流动性好的保本型产品，使用期限自 董事会审议通过之日起 12 个月内有效。具体内容详见公司于 2025 年 1 月 18 日 披露于上海证券交易所网站（www.sse.com.cn）的《公司关于使用部分暂时闲置 募集资金进行现金管理的公告》（临 2025-005）。 一、本次使用部分暂时闲置募集资金进行现金管理到期赎回情况 2025 年 1 月 20 日，公司认购了民生银行聚赢黄金- ...

Investment Rating - The report maintains a "Buy" rating for the company [10] Core Views - The company plans to invest in a factory in Thailand, aiming to enhance its overseas market share with an annual production capacity of 10,000 forklifts and 10,000 lithium battery packs [2] - The company has been accelerating its global market expansion, establishing subsidiaries in various regions including Europe and South America [2] - The forklift industry is expected to see a recovery in demand due to increased investment in manufacturing and logistics, as well as rising labor costs [3] - The company is advancing its smart logistics business, which is anticipated to become a second growth curve through partnerships with technology firms like Huawei [4] Financial Projections - Total revenue is projected to grow from 17,471 million RMB in 2023 to 22,260 million RMB in 2026, with a compound annual growth rate (CAGR) of approximately 10.76% [11] - Net profit attributable to the parent company is expected to increase from 1,278 million RMB in 2023 to 1,808 million RMB in 2026, reflecting a CAGR of around 13.14% [11] - The latest diluted earnings per share (EPS) is forecasted to rise from 1.43 RMB in 2024 to 2.03 RMB in 2026 [11] Market Data - The company's closing price is 20.88 RMB, with a market capitalization of approximately 18,597.66 million RMB [7] - The price-to-earnings (P/E) ratio is projected to decrease from 14.55 in 2023 to 10.29 in 2026, indicating potential undervaluation [11]

安徽合力（600761） 证券研究报告·公司点评报告·工程机械 除去传统叉车整机板块，公司智能物流领域进展值得关注：2025 年 2 月，公 司控股股东安徽叉车集团与华为举行深化合作协议签约仪式，根据协议，双方 将在数字化转型、智能物流、人工智能、人才培养等领域开展深化合作，实现 合作共赢：（1）产品端，华为有望为公司的智能物流设备等提供技术支持，解 决 AGV/AMR 应用端痛点问题，（2）业务端，公司有望为华为智慧工厂解决 方案提供配套硬件设备等。近年来合力加快对智慧物流领域的布局：①2023 年 子公司合力工业车辆引入战略投资者，完成混改，②2024 上半年收购安徽宇 锋智能，实现合力智能物流产业园顺利开园。2024 上半年，智能物流业务营 收同比增长 161%。未来随华为等多方合作深入、公司主动拓展业务，智能物 流板块有望成为公司第二成长曲线。 [投资要点 Table_Summary] ◼ 拟投资建设泰国工厂，助力海外份额提升 2025 年 3 月 10 日公司发布公告，拟投资设立泰国工厂，规划年产叉车 10000 台，年产锂电池组 10000 套。根据公告，公司决定与泰国当地企业以现金方式 共同出资 ...