证券代码：600805 证券简称：悦达投资 公告编号：临 2025-029 号 江苏悦达投资股份有限公司 关于召开2025年第一次临时股东大会的通知 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： 一、 召开会议的基本情况 (一) 股东大会类型和届次 2025年第一次临时股东大会 召开的日期时间：2025 年 10 月 29 日 15 点 00 分 召开地点：公司总部 1516 会议室 股东大会召开日期：2025年10月29日 本次股东大会采用的网络投票系统：中国证券登记结算有限责任公司上 市公司股东大会网络投票系统（网址http://www.chinaclear.cn） 二、 会议审议事项 本次股东大会审议议案及投票股东类型 (二) 股东大会召集人：董事会 (三) 投票方式：本次股东大会所采用的表决方式是现场投票和网络投票相结 合的方式 (四) 现场会议召开的日期、时间和地点 (五) 网络投票的系统、起止日期和投票时间。 网络投票统：中国证券登记结算有限责任公司上市公司股东大会网络投票系 统（网址 http: ...

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。 一、董事会会议召开情况 证券代码:600805 证券简称:悦达投资 编号：临 2025－028 号 江苏悦达投资股份有限公司 第十二届董事会第七次会议决议公告 江苏悦达投资股份有限公司于 2025 年 9 月 24 日以邮件方式向全 体董事发出会议通知和会议资料，并于 2025 年 10 月 13 日以通讯表 决方式召开第十二届董事会第七次会议。本次会议由董事长张乃文先 生主持，应当出席会议的董事 11 人，实际出席会议的董事 11 人（其 中：委托出席的董事 0 人；以通讯表决方式出席的董事 11 人），缺席 会议的董事 0 人，符合有关法律、行政法规、部门规章、规范性文件 和公司章程的规定。 二、董事会会议审议情况 （一）审议通过《关于修改公司章程暨取消监事会的议案》 为进一步完善公司治理结构，更好地促进公司规范运作，结合公 司的实际发展和经营状况，公司拟对《公司章程》进行修订，详见公 司同日在上海证券交易所网站（www.sse.com.cn）披露的上网文件。 同意 11 人 ...

Core Viewpoint - Yueda Investment (SH 600805) announced a board meeting held on October 13, 2025, to review proposals for modifying certain governance systems [1] Financial Performance - For the first half of 2025, Yueda Investment's revenue composition was as follows: manufacturing accounted for 73.79%, services for 9.51%, other businesses for 7.51%, electricity and heat production and supply for 7.43%, and commodity circulation for 1.76% [1] Market Position - As of the report, Yueda Investment's market capitalization stood at 4.4 billion yuan [1]

Core Insights - The article provides a comprehensive overview of the agricultural machinery industry in China, detailing the industry chain, key players, and investment trends. Industry Chain Overview - The agricultural machinery industry chain in China consists of upstream raw material suppliers (steel, non-ferrous metals, rubber) and component manufacturers (engines, transmission parts, walking parts), midstream machinery manufacturers, and downstream applications in agriculture, forestry, animal husbandry, and aquaculture [1][2]. Key Players - Major companies in the agricultural machinery manufacturing sector include Jifeng Technology, Xingguang Agricultural Machinery, Yituo Co., Linhai Co., and Zoomlion [1][2]. Regional Distribution - Agricultural machinery listed companies are primarily located in Jiangsu, Zhejiang, and Chongqing, with Jiangsu having the highest concentration of companies such as Linhai Co. and Yueda Investment. Upstream component suppliers are mainly found in Shandong and Anhui, while downstream planting companies are concentrated in Heilongjiang and Jiangsu [6]. Business Focus and Performance - Companies are focusing on tractors and harvesters, with Yituo Co. and Jifeng Technology leading in revenue from agricultural machinery in 2024. In terms of gross margin, Xinyan Co. and Yijia Co. have higher levels. Yituo Co. and Linhai Co. also report high production and sales volumes [8][9]. Investment Trends - Chinese agricultural machinery companies are enhancing competitiveness through subsidiaries, capital increases, and mergers. Notable investment activities include: - Zoomlion plans to accelerate R&D in high-end agricultural machinery and expand into domestic markets [10]. - Xiamen Agricultural Machinery launched an IPO to fund projects in smart production and agricultural machinery technology [10]. - Jifeng Technology is entering the renewable energy sector through a joint venture [10]. - Yueda Investment is investing in photovoltaic projects to boost its renewable energy business [10]. - Linhai Co. is increasing investment in agricultural machinery through its subsidiary [10].

Market Overview - On October 9, the comprehensive sector rose by 0.19% compared to the previous trading day, with Yuegui Co., Ltd. leading the gains [1] - The Shanghai Composite Index closed at 3933.97, up 1.32%, while the Shenzhen Component Index closed at 13725.56, up 1.47% [1] Stock Performance - The top-performing stocks included: - Yuegui Co., Ltd. (Code: 000833) with a closing price of 14.18, up 2.24%, and a trading volume of 352,900 shares, totaling a transaction value of 495 million [1] - Te Li A (Code: 000025) closed at 17.90, up 2.05%, with a trading volume of 115,800 shares, totaling 207 million [1] - Shanghai Sanmao (Code: 600689) closed at 14.00, up 1.52%, with a trading volume of 43,100 shares, totaling 60.1 million [1] Capital Flow - The comprehensive sector experienced a net outflow of 62.59 million from main funds, while retail funds saw a net inflow of 34.55 million [2] - The net inflow from speculative funds was 28.04 million [2] Individual Stock Capital Flow - Yuegui Co., Ltd. had a main fund net outflow of 51.56 million, with a main fund net proportion of -10.41% [3] - Yueda Investment (Code: 600805) saw a net inflow of 15.03 million from main funds, with a main fund net proportion of 12.61% [3] - Zhangzhou Development (Code: 000753) had a net inflow of 8.74 million from main funds, with a main fund net proportion of 3.06% [3]

Group 1: Industry Overview - The export value of China's agricultural machinery is significantly higher than its import value, with exports projected to reach 15.93 billion yuan in 2024, a year-on-year increase of 11.9%, while imports are expected to be 3.25 billion yuan, up 2.8% [2] - India is the largest export destination for Chinese agricultural machinery, with exports to India, Russia, Thailand, and the United States collectively accounting for 30% of total exports in 2024 [2] Group 2: Policy Support - National policies supporting the agricultural machinery industry include the "14th Five-Year" National Agricultural Mechanization Development Plan and the Digital Rural Development Action Plan (2022-2025), focusing on enhancing mechanization rates and developing smart agricultural equipment [7][8] - Key policy goals include increasing the comprehensive mechanization rate of crop farming to 75% by 2025 and ensuring that major agricultural machinery products achieve international advanced quality standards [9][10] Group 3: Regional Development Goals - Various provinces have set specific agricultural machinery development targets for 2025, such as Jiangsu aiming for a total power of 55 million kilowatts and Shandong targeting a comprehensive mechanization rate of 92% for crop farming [12][14] - Other provinces, like Zhejiang and Guangdong, have established ambitious mechanization rates for specific agricultural sectors, indicating a strong regional commitment to enhancing agricultural productivity through mechanization [14]

Market Overview - On September 22, the comprehensive sector rose by 0.41% compared to the previous trading day, with Dongyangguang leading the gains [1] - The Shanghai Composite Index closed at 3828.58, up 0.22%, while the Shenzhen Component Index closed at 13157.97, up 0.67% [1] Stock Performance - Dongyangguang (600673) closed at 25.02, with a gain of 1.42% and a trading volume of 845,500 shares, amounting to a transaction value of 2.085 billion yuan [1] - Other notable performers included Yuegui Co. (000833) with a closing price of 14.11, up 1.07%, and Nanjing New Bai (600682) at 7.67, up 0.92% [1] - Conversely, stocks like Zhangzhou Development (000753) and Hongmian Co. (000523) experienced slight declines of 0.14% and 0.30%, respectively [1] Capital Flow - The comprehensive sector saw a net outflow of 90.8654 million yuan from main funds, while retail funds experienced a net inflow of 24.7913 million yuan [2] - The main funds showed a significant outflow from stocks like Ningbo United (600051) and Nanjing Public Utilities (000421), with net outflows of 2.4774 million yuan and 3.2332 million yuan, respectively [3] Individual Stock Capital Flow - Zhangzhou Development (000753) had a net inflow of 14.4143 million yuan from main funds, while it faced a net outflow of 22.8642 million yuan from retail investors [3] - Other stocks like Guangdong Gui (000833) and Sanmu Group (000632) also reported mixed capital flows, with net inflows from main and retail funds [3]

Market Overview - The Shanghai Composite Index rose by 0.04% on September 16, with 21 out of the 28 sectors experiencing gains. The top-performing sectors were the comprehensive sector and machinery equipment, with increases of 3.62% and 2.06% respectively [1] - The sectors that saw declines included agriculture, forestry, animal husbandry, and fishery, which fell by 1.29%, and banking, which decreased by 1.15% [1] Capital Flow Analysis - The net outflow of capital from the two markets was 37.426 billion yuan, with 11 sectors experiencing net inflows. The machinery equipment sector led with a net inflow of 5.508 billion yuan, followed by the computer sector, which also saw a 2.06% increase and a net inflow of 4.945 billion yuan [1] - Conversely, 20 sectors experienced net outflows, with the non-ferrous metals sector leading the outflow at 10.335 billion yuan, followed by the power equipment sector with an outflow of 8.913 billion yuan. Other sectors with significant outflows included banking, non-bank financials, and pharmaceutical biology [1] Comprehensive Sector Performance - The comprehensive sector increased by 3.62% with a net inflow of 14.5 million yuan. Out of 16 stocks in this sector, 13 rose while 2 fell. The stocks with the highest net inflows included Dongyangguang with 206 million yuan, followed by Zhangzhou Development and Zhejiang Agricultural Shares with net inflows of 21.5552 million yuan and 9.8091 million yuan respectively [2] - The stocks with the highest net outflows in the comprehensive sector were Yuegui Shares, Nanjing New Hundred, and Te Li A, with outflows of 69.481 million yuan, 14.8845 million yuan, and 10.1847 million yuan respectively [2] Comprehensive Sector Capital Flow Ranking - The top stocks in the comprehensive sector based on capital flow included: - Dongyangguang: +7.37%, 4.42% turnover, 206.2576 million yuan inflow - Zhangzhou Development: +0.85%, 4.27% turnover, 21.5552 million yuan inflow - Zhejiang Agricultural Shares: +1.82%, 1.65% turnover, 9.8091 million yuan inflow - Other notable stocks included Zongyi Shares, Yatai Group, and Hongmian Shares, all showing positive performance and varying levels of capital inflow [2]

Group 1 - The core viewpoint of the news is that Yueda Investment has shown fluctuations in stock performance, with a year-to-date increase of 22.83% but a recent decline in the last 5 and 20 trading days [1] - As of September 16, Yueda Investment's stock price was 5.38 CNY per share, with a market capitalization of 4.578 billion CNY [1] - The company has experienced net outflows of main funds amounting to 9.15 million CNY, with significant buying and selling activities recorded [1] Group 2 - Yueda Investment's main business segments include manufacturing (73.79%), services (9.51%), electricity and heat production and supply (7.43%), and others [1] - The company is classified under the comprehensive industry sector and has various concept boards including Jiangsu State-owned Assets, agricultural machinery, and low-priced stocks [2] - As of August 10, the number of shareholders increased to 35,600, with a slight decrease in the average circulating shares per person [2] Group 3 - Yueda Investment has distributed a total of 858 million CNY in dividends since its A-share listing, with 42.54 million CNY distributed in the last three years [3]

Core Viewpoint - As of September 12, 2025, Yueda Investment (600805) closed at 5.41 CNY, down 1.1%, with a trading volume of 154,700 shares and a turnover of 84.47 million CNY [1] Group 1: Fund Flow Data - On September 12, 2025, the net outflow of main funds was 15.50 million CNY, accounting for 10.53% of the total turnover, while retail investors had a net inflow of 16.66 million CNY, representing 11.32% of the total turnover [1] - Over the past five days, the stock experienced fluctuations in fund flows, with notable net inflows from retail investors on September 10 and September 12, while main funds showed consistent outflows [2] Group 2: Financing and Securities Lending - On September 12, 2025, the financing buy-in was 21.88 million CNY, with a net financing buy of 7.36 million CNY, while the securities lending showed no activity [3] - The total financing and securities lending balance stood at 255 million CNY as of September 12, 2025 [3] Group 3: Company Financial Performance - Yueda Investment reported a main revenue of 1.358 billion CNY for the first half of 2025, a year-on-year decrease of 22.01%, while the net profit attributable to shareholders was 14.02 million CNY, an increase of 27.62% [5] - The company’s gross profit margin was 10.24%, significantly lower than the industry average of 23.53%, indicating potential challenges in profitability [5] - The company’s total assets amounted to 4.569 billion CNY, with a debt ratio of 49.11% [5] Group 4: Industry Comparison - Yueda Investment's market capitalization is 4.569 billion CNY, ranking 13th in its industry, while its net asset value is 5.09 billion CNY, ranking 7th [5] - The company has a price-to-earnings ratio of 162.9, which is significantly higher than the industry average of 10.32, indicating a potential overvaluation [5]