安徽王良其律师事务所 关于安徽合力股份有限公司控股股东增持股份 法 律 覧 風 书 王良其律师事务所 AN HUI WANG LIANGQI L A W F IR M 安徽王良其律师事务所 关于安徽合力股份有限公司控股股东增持股份的 二〇二五年十月 法律意见书 安徽王良其律师事务所 控股股东增持股份法律意见书 目 景 | 日 来 | | --- | | 引 言 | | 正文 . | | 一、本次增持的主体资格 | | 二、本次增持股份的情况 | | (一) 本次增持前持股情况 | | (二) 增持计划 . | | (三) 本次增持的实施情况 | | (四) 本次增持后的持股情况 … | | 三、本次增持的信息披露 | | 四、本次增持符合《收购管理办法》规定的免于发出要约的情形 . | | 五、结论性意见… | l 安徽王自其律师事务所 控股股东增持股份法律意见书 为出具本法律意见书,本所声明如下: 1.本法律意见书系依据《公司法》《证券法》《收购管理办法》《上市规 则》《自律监管指引》等法律、法规和规范性文件的有关规定及本法律意见 书出具日以前已经发生或者存在的事实作出. 2.本所律师已严格履行了法定职责, ...

Core Insights - The article discusses the growth of the excavator industry in China, highlighting a significant increase in production and sales figures for 2025 [1] Industry Overview - According to the National Bureau of Statistics, the production of excavators in China reached 28,000 units in August 2025, representing a year-on-year growth of 13.2% [1] - From January to August 2025, the cumulative production of excavators in China was 246,000 units, showing a cumulative growth of 17.6% [1] Companies Mentioned - The article lists several key companies in the excavator industry, including SANY Heavy Industry, XCMG Machinery, Zoomlion Heavy Industry, Shantui, LiuGong, Xiamen XGMA Machinery, Shanhe Intelligent, Anhui Heli, Hengli Hydraulic, and Construction Machinery [1] Market Research - The insights are based on a report by Zhiyan Consulting titled "2025-2031 China Excavator Industry Market Survey and Future Outlook" [1] - Zhiyan Consulting is noted as a leading industry consulting firm in China, providing comprehensive industry research reports and consulting services [1]

安徽合力 Q&A 摘要 安徽合力出口业务稳健增长，欧洲市场恢复明显，1-8 月营收增长约 18%，三季度加速。北美市场受贸易战影响接近尾声，预计明年或下半 年需求恢复。亚洲（除中国）市场增速超 15%，南美增速超 70%。 国内市场稳健恢复，结构性向好，大动力车、锂电车替代内燃车。智能 物流方面，预计今年营收达 9-10 亿元，同比增长超 50%。 公司与江淮前沿创新中心合作成立实验室，开发工业端具身智能机器人， 包括人形、类人形产品，应用于拣选、搬运、装配等场景，计划成立合 资公司落地项目。 智能物流系统以国内市场为主，占比超 90%，毛利率约 24%-25%，软 件占 20%，硬件占 80%，无人叉车约占 40%。海外市场是未来重要增 长空间。 海外智能物流系统仍处于自动化阶段。公司将扎实渠道建设，形成大客 户突破，与央企合作打通标杆客户，实现出海战略。欧美和亚洲订单预 计很快落地。 新能源车型（一类车）增长最快，月平均增速 30%-40%，用户认知度 高，市场占有率迅速提升，预计将逐步替代内燃车型一半以上份额。 针对美国关税，公司采取涨价策略，转嫁给代理商。计划 2026 年在泰 国工厂投产，支撑美国市 ...

Core Insights - Institutional upgrades in ratings indicate a positive market outlook for related assets or companies, suggesting good growth potential and investment value [1] Group 1: Institutional Upgrades - As of September 2025, 41 stocks received upgrades from institutions, with several leading companies from various sectors included [1] - Traditional industry leaders such as Yangtze Power, Huaneng Hydropower, Guotou Power, Sany Heavy Industry, XCMG, and Yanzhou Coal Mining are among those upgraded [1] - Emerging industry leaders like BAIC BluePark and Xinzhou Bang also made the list [1] Group 2: Valuation Metrics - As of September 30, 2025, 18 stocks had a rolling price-to-earnings (PE) ratio below 30, with 6 stocks having a PE ratio under 15, including Yanzhou Coal Mining, Boss Electric, Hailide, Yuntu Holdings, Zhou Dazheng, and Anhui Hefei [1] Group 3: Dividend Yields - The highest dividend yield over the past 12 months was recorded by Pingmei Shenma, reaching 7.25% as of September 30, 2025 [1]

Market Performance - The engineering machinery sector rose by 1.16% on September 30, with Changling Hydraulic leading the gains [1] - The Shanghai Composite Index closed at 3882.78, up 0.52%, while the Shenzhen Component Index closed at 13526.51, up 0.35% [1] Individual Stock Performance - Changling Hydraulic (605389) closed at 61.29, up 6.96% with a trading volume of 38,800 shares and a turnover of 233 million yuan [1] - Tongli Co. (834599) closed at 19.55, up 5.79% with a trading volume of 105,900 shares and a turnover of 208 million yuan [1] - Xugong Machinery (000425) closed at 11.50, up 4.55% with a trading volume of 1,398,300 shares and a turnover of 158.3 million yuan [1] - Other notable performers include Wantong Hydraulic (830839) up 3.45% and Shantui (000680) up 1.97% [1] Fund Flow Analysis - The engineering machinery sector experienced a net outflow of 209 million yuan from institutional investors, while retail investors saw a net inflow of 71.1 million yuan [2] - Notable net inflows from retail investors were observed in stocks like Anhui Heli (600761) with a net inflow of 23.7 million yuan [3] Key Stock Movements - Xugong Machinery (000425) had a significant net outflow from institutional investors amounting to 1.37 billion yuan, while retail investors contributed a net inflow of 37.9 million yuan [3] - Changling Hydraulic (605389) saw a net inflow of 19.6 million yuan from institutional investors but a net outflow from retail investors of 16.4 million yuan [3] - Zhejiang Dingli (603338) had a net inflow of 27.1 million yuan from institutional investors [3]

Investment Rating - The industry investment rating is "Overweight" indicating that the industry index is expected to outperform the CSI 300 index by 10% or more over the next six months [6]. Core Insights - The mechanical equipment industry is experiencing robust growth, with forklift sales in August 2025 reaching 118,100 units, a year-on-year increase of 19.4%. Domestic sales accounted for 70,200 units, up 19.3%, while overseas sales were 47,900 units, up 19.6% [5]. - The demand for forklifts is closely linked to the manufacturing and logistics sectors, with the manufacturing PMI new orders index reaching 49.50% in August 2025, indicating a recovery in manufacturing sentiment [5]. - Major companies like Anhui Heli and Hangcha Group are showcasing innovative products at trade shows, including new energy and intelligent equipment, which are expected to enhance their competitive positions in the market [5]. Summary by Sections Sales Performance - Forklift sales for the first eight months of 2025 totaled 976,000 units, reflecting a year-on-year growth of 12.9%. Domestic sales were 616,300 units (up 11.3%), while exports reached 359,800 units (up 15.7%) [5]. Market Trends - The industry is witnessing double-digit growth in both domestic and international sales, driven by improved competitiveness of domestic manufacturers and increasing global demand for forklifts [5]. Company Developments - Anhui Heli announced the acquisition of a 51% stake in Jianghuai Heavy Industry for 274 million yuan, aimed at consolidating its market position and enhancing operational efficiency [5]. - Anhui Heli also showcased 27 new energy machines and 7 intelligent storage and handling devices at the Beijing International Engineering Machinery Exhibition, highlighting advancements in clean energy technologies [5]. - Hangcha Group presented a range of new energy and intelligent products, including a 10-ton hybrid forklift and various intelligent logistics solutions, emphasizing their commitment to innovation and sustainability [5]. Investment Recommendations - The report suggests focusing on leading domestic forklift manufacturers with strong brand recognition and established overseas operations, such as Anhui Heli, Hangcha Group, and Zhongli Co., Ltd. [5].

安徽王良其律师事务所 ANHUI WANGLIANGQI LAW FIRM 安徽王良其律师事务所 办公地址:合肥市政务新区潜山路 111 号华润大厦B座 32 层 电子邮件:tangjunxinlawyer@163.com 邮编:230001 电话:(0551) 6522 6655 13856930383 本所网站 www. wangliangqi.com 传真:(0551) 6522 6021 l 安徽王良其律师事务所 关于安徽合力股份有限公司 2025 年第一次临时股东会的法律意见书 (2025) 良证字第 037 号 致:安徽合力股份有限公司 根据《中华人民共和国公司法》《中华人民共和国证券法》《上市公司股东 大会规则》等法律、法规(以下简称"有关法律")、《安徽合力股份有限公司 章程》(以下简称"公司章程")的规定,安徽王良其律师事务所(以下简称"本 所")作为安徽合力股份有限公司(以下简称"公司")聘请的常年法律顾问, 指派汤俊鑫、孙丽律师(以下简称"本所律师")出席公司 2025年第一次临时 股东会(以下简称"本次股东会"),对本次股东会进行法律见证。本所律师按 照律师行业公认的业务标准、道德规范 ...

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。 证券代码：600761 证券简称：安徽合力 公告编号：2025-052 安徽合力股份有限公司 2025年第一次临时股东大会决议公告 重要内容提示： 本次会议是否有否决议案：无 一、 会议召开和出席情况 (一) 股东会召开的时间：2025 年 9 月 29 日 (二) 股东会召开的地点：安徽省合肥市方兴大道 668 号公司行政楼一楼报 告厅 (三) 出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： | 1、出席会议的股东和代理人人数 | 496 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 491,347,217 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股 | 55.1646 | | 份总数的比例（%） | | (四) 表决方式是否符合《公司法》及《公司章程》的规定，会议主持情况 等。 本次会议由公司董事会召集，现场会议由杨安国先生主持，公司其他董事、 监事、高管和公司聘请的法律顾问参加了会议，会议采用现场投 ...

安徽合力今年以来股价涨28.04%，近5个交易日跌1.53%，近20日涨11.15%，近60日涨21.08%。 资料显示，安徽合力股份有限公司位于安徽省合肥市经济技术开发区方兴大道668号，成立日期1993年9 月30日，上市日期1996年10月9日，公司主营业务涉及工业车辆、智慧物流产业及其关键零部件的研 发、制造与销售,以及配件服务、融资租赁、车辆租赁、维保服务、再制造等后市场业务。主营业务收 入构成为：叉车等及配件98.78%，其他(补充)1.22%。 9月29日，安徽合力盘中上涨2.06%，截至10:14，报21.83元/股，成交6233.59万元，换手率0.33%，总市 值194.44亿元。 资金流向方面，主力资金净流入330.07万元，特大单买入271.32万元，占比4.35%，卖出103.22万元，占 比1.66%；大单买入964.91万元，占比15.48%，卖出802.94万元，占比12.88%。 责任编辑：小浪快报 分红方面，安徽合力A股上市后累计派现42.18亿元。近三年，累计派现13.04亿元。 机构持仓方面，截止2025年6月30日，安徽合力十大流通股东中，香港中央结算有限公司位居第四 ...

参访团参 可旋转的双面屏电脑，一边是墨水屏幕，一边是数码屏，还有浮雕工艺联名黑悟空系列的定制电脑，炫 酷潮流的产品，让采访团眼前一亮。 据介绍，联宝科技个人电脑年产能达4000万台套，全球每售出8台笔记本电脑，就有1台联宝造，产品行 销全球126个国家和地区。 这是一个国家卓越级智能工厂，也是全球范围内201个"灯塔工厂"之一。"每年四千万台/套的全球订 单，80%以上都是单笔小于5台的定制需求，从接单到交付整个过程小于102个小时。"联宝科技沟通与 宣传部负责人康鹏飞介绍。在高复杂度的供需现状下，联想合肥产业基地应用大数据、云技术、人工智 能等先进技术，实现了计划的高度精准化，排产的智能化，打造与供应商合作共赢的生态协同体系新模 式。 合肥正以一场深入的"智造"革命，重新定义自身在全球产业版图上的坐标。 9月22日至23日，"信心合肥"——长三角主流网络媒体调研行活动举行。活动由合肥市委网信办与智通 财经共同举办，来自长三角的几十家知名媒体走进合肥，实地探访了联宝科技、蔚来汽车、安徽合力叉 车等重点企业，见证了合肥制造业由传统模式向智能新貌的转型成果。 作为长三角城市群的重要成员，合肥正以惊人的速度打造具有 ...