证券代码：601038 证券简称：一拖股份 公告编号：临 2025-31 第一拖拉机股份有限公司 2025 年"提质增效重回报"行动方案 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。 为深入贯彻党的二十大和中央经济工作会议精神，全面落实国务院《关于进 一步提高上市公司质量的意见》《关于加强监管防范风险推动资本市场高质量发 展的若干意见》要求，积极响应上海证券交易所《关于开展沪市公司"提质增效 重回报"专项行动的倡议》，第一拖拉机股份有限公司（以下简称公司）结合公 司发展规划和经营实际，特制定《2025 年"提质增效重回报"行动方案》。 一、以聚焦主业与优化结构为核心，推动公司高质量发展 2024 年，公司沉稳应对农机行业转型升级期，坚持科技创新引领，在着眼 长远发展做好产品技术布局和能力建设的同时，积极发挥产品优势，响应用户需 求，抢抓当前市场，大力强化内部管理，保持企业经营质量健康稳定。 2025 年，公司坚持以"打造世界级品牌、创建世界一流企业"为牵引，以 提升价值创造能力为主线，以增强核心功能和提高企业核心竞争力为重点 ...

Summary of the Conference Call for Yituo Co., Ltd. Company Overview - The conference call pertains to Yituo Co., Ltd., a company in the agricultural machinery industry, specifically focusing on tractor sales and related products. Key Points and Arguments Sales Performance - In 2024, Yituo's large agricultural tractor sales increased by 2.7% year-on-year to 74,430 units, but sales in April and May 2025 saw a significant decline of nearly 20% due to overall weak industry demand [2][3] - The company achieved revenue of 11.9 billion yuan and a net profit of 920 million yuan in 2024, with Q1 2025 revenue at 4.5 billion yuan and net profit at 529 million yuan [3] Product Development and Market Trends - The company has increased its focus on developing power-shift products, with their share in tractor products around 20%, while power-shift sales account for less than 5% [2][8] - The market share of large horsepower tractors is expected to gradually increase, but the medium horsepower tractor market will still have demand due to China's complex operational environment [10] Pricing and Promotions - Despite good promotion of new products, the overall industry downturn led to price stability, with average prices remaining similar to the previous year due to discount promotions [6][2] Export Strategy - The company aims to focus on exports, with expected overseas revenue of approximately 900 million yuan in 2025, despite a decline in the Russian market [4][19] - The overseas market grew over 20% in Q1 2025, primarily driven by regions outside Russia [15] Inventory Management - Dealer inventories have returned to normal levels, approximately three months' worth, following promotional efforts [4][26] Future Outlook - The agricultural machinery industry is currently in a low growth phase, but government support for agricultural machinery development and food security remains strong [27] - The company does not have specific targets for the next two to three years but anticipates exporting 8,500 to 9,000 units in 2025, with corresponding revenue around 900 million yuan [19] Capital Expenditure Plans - Yituo plans to maintain fixed capital expenditures at around 500 million yuan annually, focusing on high-end intelligent tractor assembly lines and heavy-duty diesel engine production lines [24] Aftermarket Services - The company currently relies on dealers for after-sales service and has no immediate plans to directly enter the aftermarket [4][17] New Product Focus - Future product development will concentrate on high-end intelligent products, including large horsepower tractors and upgrades to existing products to meet rising quality and comfort demands [23][21] Market Conditions - The company is cautious about predicting a market turnaround, emphasizing the need to observe the summer grain harvest and pricing trends in the second half of 2025 [22] Additional Important Information - The company is exploring the integration of other agricultural machinery businesses into the listed company platform but faces challenges due to profitability issues [20] - The development of CVT (continuously variable transmission) technology is ongoing, primarily targeting large state-owned farms, but widespread adoption remains challenging [14]

Group 1 - The board of directors of Yituo Co., Ltd. held its 36th meeting on June 20, 2025, with 8 directors present, complying with relevant regulations [1] - The board approved an investment of RMB 159.2 million for the technical transformation project of the heavy-duty engine production line at Yituo (Luoyang) Diesel Engine Co., Ltd., with a construction period of 1 year [1] - The board also approved an investment of RMB 73.5 million for the technical transformation project of the coating line, with a construction period of 18 months [2] Group 2 - The board unanimously agreed on the proposal to establish the "Overseas Commission Management Measures" [2]

证券代码：601038 证券简称：一拖股份 公告编号：临 2025-30 （二）《关于涂装线技术改造项目的议案》 第一拖拉机股份有限公司（以下简称公司）第九届董事会第三十六次会议（以 下简称本次会议）于 2025 年 6 月 20 日以现场结合视频方式召开。会议通知已于 2025 年 6 月 18 日通过电子邮件方式发送给各位董事。本次会议应出席董事 8 名， 实际出席董事 8 名。会议由董事长赵维林先生主持，公司部分高级管理人员列席 会议。本次会议召开符合《公司法》及公司《章程》《董事会议事规则》等有关 规定。 二、董事会审议情况 （一）《关于一拖（洛阳）柴油机有限公司重柴生产线技术改造项目的议案》 董事会同意公司控股子公司一拖（洛阳）柴油机有限公司以自有资金投资建 设重柴生产线包括缸体缸盖加工线、装配线、热试线等技术改造项目，本项目计 划建设工期为 1 年，项目总投资人民币 15,920 万元。 表决结果：同意 8 票，反对 0 票，弃权 0 票。 公司第九届董事会战略投资及可持续发展委员会 2025 年第二次会议审议通 过本议案，并同意将本议案提交董事会审议。 第一拖拉机股份有限公司 第九届董事会第三十 ...

A 股每股现金红利人民币0.2995元（含税） 相关日期 证券代码：601038 证券简称：一拖股份 公告编号：临2025-29 第一拖拉机股份有限公司 2024年年度权益分派实施公告 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： 每股分配比例 | 股份类别 | 股权登记日 | 最后交易日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | --- | --- | | Ａ股 | 2025/6/24 | － | 2025/6/25 | 2025/6/25 | 一、 通过分配方案的股东会届次和日期 本次利润分配方案经公司2025 年 6 月 10 日召开的第一拖拉机股份有限公司 （以下简称公司）2024年度股东周年大会审议通过。 二、 分配方案 截至股权登记日下午上海证券交易所收市后，在中国证券登记结算有限责任 公司上海分公司（以下简称中国结算上海分公司）登记在册的本公司全体 A 股股 东。 3. 分配方案： 本次利润分配以方案实施前的公司总股本1,123,645,275股为基数，每 ...

Core Points - The company announced a cash dividend of RMB 0.2995 per share (including tax) for A-share shareholders [1][2] - The total cash dividend distribution amounts to RMB 336,531,759.86 (including tax) based on a total share capital of 1,123,645,275 shares [2] - The relevant dates for the dividend distribution are: - Record date: June 24, 2025 - Ex-dividend date: June 25, 2025 - Dividend payment date: June 25, 2025 [2] Dividend Distribution Details - The cash dividend will be distributed to all A-share shareholders registered with China Securities Depository and Clearing Corporation Limited, Shanghai Branch as of the record date [2] - For A-share shareholders who have not completed designated trading, the dividends will be held by China Securities Depository and Clearing Corporation Limited until they complete the designated trading [2] - H-share shareholders are not included in this announcement and will receive dividends as per a separate announcement on the Hong Kong Stock Exchange [2] Taxation Information - Individual A-share shareholders and securities investment funds are temporarily exempt from personal income tax, resulting in an actual cash dividend of RMB 0.2995 per share [3] - For shares held for less than one month, the actual tax burden is RMB 0.26955 per share [3] - Qualified Foreign Institutional Investors (QFII) will have a 10% withholding tax applied, resulting in an actual cash dividend of RMB 0.26955 per share [5]

Summary of the Conference Call for Yituo Co., Ltd. Industry Overview - The agricultural machinery market is expected to see increased demand due to the rebound in grain prices, particularly corn and soybean prices, which serve as leading indicators for agricultural machinery demand [2][8] - The crop rotation mechanism of major crops like corn and wheat directly influences agricultural machinery demand [2][6] Key Points and Arguments - **Grain Price Impact**: The rebound in grain prices is anticipated to positively affect agricultural machinery demand and, consequently, the company's performance [2][8] - **Inventory Management**: The company has successfully reduced inventory levels to near normal, resolving previous issues related to declining gross margins. This marks the end of the destocking cycle, laying a foundation for future performance growth [2][9] - **New Subsidy Policy**: The introduction of a new agricultural machinery purchase subsidy policy has enhanced the competitiveness of power-shift models. The company is adopting an aggressive pricing strategy to increase product penetration, which may temporarily reduce gross margins but is expected to significantly enhance competitiveness in the high-end agricultural machinery market in the long run [2][10] - **Stock Buyback Policy**: The recent stock buyback policy in Hong Kong is expected to boost investor confidence, optimize capital structure, and improve earnings per share, positively impacting the company's overall financial condition [2][11] - **Profit Margin Forecast**: For Q3 2025, the company anticipates a year-on-year profit margin increase of 2.5 to 3 percentage points, reaching over 30%, driven by larger horsepower sales in the North China Plain and the autumn harvest season [3][17] Additional Important Insights - **Future Earnings Outlook**: The company's future earnings are expected to improve due to rising grain prices, normalized inventory levels, and the new subsidy policy, which collectively will drive profitability growth [7][18] - **High-End Product Demand**: The trend towards high-end agricultural machinery is evident, with an increasing proportion of products over 200 horsepower contributing significantly to overall profits [5][17] - **Sales Data**: In early 2025, the production growth rates for large and medium tractors were 7.6% and -6.8%, respectively, indicating a mixed performance compared to the previous year [12] - **Subsidy Sales Fluctuations**: The subsidy sales data showed a decline of approximately 13.5% in early 2024, with a recovery to 66,850 units in early 2025, reflecting regional operational variations [13] - **Cost Management**: The company is expected to manage costs effectively, with a reduction in R&D expenses in Q4 2025 compared to the previous year, which should aid in mitigating losses [17][18] This summary encapsulates the key insights from the conference call, highlighting the company's strategic positioning within the agricultural machinery industry and its outlook for future performance.

证券代码：601038 证券简称：一拖股份 公告编号：临2025-28 第一拖拉机股份有限公司 2024年度股东周年大会、2025 年第一次 A 股类别股东会 及 2025 年第一次 H 股类别股东会决议公告 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： 本次会议是否有否决议案：无 一、 会议召开和出席情况 | 1、出席会议的股东和代理人人数 | 405 | | --- | --- | | 其中：A 股股东人数 | 403 | | 境外上市外资股股东人数（H 股） | 2 | | 2、出席会议的股东所持有表决权的股份总数（股） | 607,958,719 | | 其中：A 股股东持有股份总数 | 554,538,934 | | 境外上市外资股股东持有股份总数（H 股） | 53,419,785 | (一) 股东大会召开的时间：2025 年 6 月 10 日 (二) 股东大会召开的地点：河南省洛阳市建设路 154 号公司会议室 (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： | 3、出席 ...

北京市中伦律师事务所 关于第一拖拉机股份有限公司 2024 年度股东周年大会、2025 年 第一次 A 股类别股东会议及 2025 年第一次 H 股类别股东会议的 法律意见书 致：第一拖拉机股份有限公司 根据《中华人民共和国公司法》（以下简称"《公司法》"）、《中华人民共 和国证券法》、《上市公司股东会规则》（以下简称"《股东会规则》"）等法律、 法规、规章和规范性文件以及《第一拖拉机股份有限公司章程》（以下简称"《公 司章程》"）的规定，北京市中伦律师事务所（以下简称"本所"）作为第一拖 拉机股份有限公司（以下简称"公司"）的常年法律顾问，指派律师出席公司 2024 年度股东周年大会（以下简称"本次股东周年大会"）、2025 年第一次 A 股类别 股东会议（以下简称"本次 A 股类别股东会"）及 2025 年第一次 H 股类别股东会 议（以下简称"本次 H 股类别股东会"，与本次股东周年大会、本次 A 股类别股 东会统称"本次股东会"），并依法出具本法律意见书。 本法律意见书仅就本次股东会的召集和召开程序是否符合法律、行政法规及 《公司章程》的规定，以及出席本次股东会人员的资格、召集人资格、会议表决 程序及 ...

| 证券代码：601038 证券简称：一拖股份 公告编号：临2025-28 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 第一拖拉机股份有限公司 | | | | | | | | | 及 2025 年第一次 H 股类别股东会决议公告 | | | | | | | | | 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： | | | | | | | | | ? 本次会议是否有否决议案：无 | | | | | | | | | 一、 会议召开和出席情况 | | | | | | | | | 6 10 (一) 股东大会召开的时间：2025 年 日 | 月 | | | | | | | | (二) 股东大会召开的地点：河南省洛阳市建设路 | | | 154 | 号公司会议室 | | | | | (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： | | ...