Financial Performance - Total operating revenue for 2024 reached ¥11,904,370,911.94, a 3.21% increase compared to ¥11,533,786,779.44 in 2023[16] - Net profit attributable to shareholders decreased by 7.52% to ¥922,023,211.45 from ¥997,022,699.99 in the previous year[16] - The net cash flow from operating activities increased by 15.13% to ¥1,216,115,552.21 compared to ¥1,056,261,600.78 in 2023[16] - Basic earnings per share for 2024 was ¥0.8206, down 7.52% from ¥0.8873 in 2023[18] - Total assets grew by 6.33% to ¥14,691,335,709.97 from ¥13,817,261,971.79 in 2023[16] - The company reported a quarterly net profit of ¥599,396,148.31 in Q1 2024, with a significant drop to -¥178,879,297.75 in Q4 2024[20] - Non-recurring gains and losses totaled ¥55,146,131.09 in 2024, compared to ¥71,137,510.83 in 2023[22] - The weighted average return on equity decreased to 13.22% in 2024 from 15.76% in 2023, a decline of 2.54 percentage points[18] - The total liabilities increased to ¥6,913,064,048.45 in 2024 from ¥6,597,932,308.41 in 2023[29] - The company's net assets attributable to shareholders rose by 8.43% to ¥7,255,707,334.12 in 2024 from ¥6,691,690,666.55 in 2023[16] Dividend and Profit Distribution - The company plans to distribute a cash dividend of RMB 2.995 per 10 shares, totaling RMB 336.53 million, based on a total share capital of 1,123,645,275 shares as of December 31, 2024[4] - The cumulative cash dividend over the last three accounting years amounts to RMB 94,903 million, with a cash dividend ratio of 109.50% based on the average net profit during the same period[164] - The company maintains a profit distribution policy that ensures at least 25% of the distributable profits are distributed in cash annually, subject to business needs and major investment plans[189] Audit and Compliance - The company has received a standard unqualified audit report from the accounting firm Xin Yong Zhong He[5] - The company has maintained the accuracy and completeness of its annual report, with no significant omissions or misleading statements[5] - The company is committed to ensuring the authenticity of its financial reports, as stated by its responsible personnel[5] - The company strictly adheres to domestic and international regulatory requirements for information disclosure, ensuring that disclosures are truthful, accurate, complete, and timely[114] - The company's board of directors has reviewed compliance with governance codes and has executed its governance responsibilities during the fiscal year[191] Risk Management - The company emphasizes the importance of risk analysis in its management discussion and analysis section of the annual report[4] - The company has established a clear management structure for risk management and internal control, aimed at achieving business objectives and protecting assets[187] - The board of directors has confirmed the effectiveness of the risk management and internal control systems, ensuring compliance with relevant laws and regulations[187] Market and Product Development - The company sold 743,000 large and medium-sized tractors in 2024, an increase of 2.73% year-on-year, maintaining its leading position in the industry[35] - The company exported 7,100 tractors in 2024, reflecting a year-on-year growth of 8.23% despite challenges from geopolitical factors and trade policy changes[36] - The company completed the development of new products for 30-50 horsepower hillside tractors, marking the first batch market application of such tractors in China[34] - The company is focusing on technological innovation and has made substantial progress in developing high-end agricultural machinery, including 320-horsepower tractors[34] - The company is actively expanding its overseas market presence, leveraging international engineering resources to enhance its product offerings[36] Research and Development - The company focuses on self-research for product development, with strategic planning and market demand projects managed by its R&D center and subsidiaries[47] - Research and development expenses increased by 11.93% to CNY 516,377,794.17 from CNY 461,344,381.32 year-on-year, reflecting increased investment in R&D projects[56] - Total R&D expenses amounted to RMB 516,377,794.17, representing 4.34% of operating revenue, with no capitalized R&D expenditures[79] Governance and Management - The company maintains a robust governance structure, ensuring independence in assets, personnel, finance, and operations, with no factors affecting its independence[117] - The company has a strong governance structure with experienced executives, including Chairman Zhao Weilin and General Manager Wei Tao, who have extensive backgrounds in international trade and management[123] - The board of directors consists of 9 members, with independent directors making up over one-third of the board, ensuring a diverse and balanced governance structure[171] - The company has a structured process for determining the remuneration of its directors and supervisors, requiring approval from the shareholders' meeting[131] - The company has appointed several independent directors with extensive experience in finance and management, enhancing corporate governance[124][125][126] Environmental and Social Responsibility - The company invested ¥61.82 million in environmental protection during the reporting period[197] - The company achieved compliance in pollutant emissions, with particulate matter emissions averaging 5.66 mg/m³ against a standard of 120 mg/m³[197] - The company and its subsidiary implemented the "three simultaneous" system for environmental protection facilities, with four new environmental facilities added in 2024[199] - The company received the ESG Golden Bull Award and was recognized as one of the top 50 central enterprises in ESG, highlighting its commitment to environmental, social, and governance practices[116] Employee and Training Initiatives - The company invested RMB 9.6 million in training programs in 2024, covering 1,097 training sessions with 45,083 participants, achieving a 100% training coverage rate[158] - The employee composition includes 4,027 production staff, 615 sales personnel, and 1,158 technical staff, reflecting a diverse workforce[155] - The company has 1,364 female employees, representing 19.71% of the total workforce, indicating a commitment to employee diversity[156] Shareholder Engagement - The company emphasizes the importance of maintaining clear communication with investors, particularly small and medium shareholders, to protect their rights[115] - The company plans to enhance communication with investors regarding its operational performance and investment strategies[145] - The company participated in multiple investor communication activities, including performance briefings and investor surveys, to address market concerns and convey company value[115]

Mergers and Acquisitions - Fushun Special Steel plans to absorb and merge its wholly-owned subsidiary Fushun Xinxing Steel Plate Co., Ltd, aiming to optimize management structure, reduce management costs, and improve operational efficiency [1] - Shenghang Co., Ltd. has completed the acquisition of 25.2762% of Shenghang Haoyuan's shares, now holding a total of 78.3316% of the company [2] - Yuanshang Co., Ltd. has completed the industrial and commercial change registration for the acquisition of 60% of Wuhan Hechuan You's shares [3] Earnings Disclosure - Sinopec reported Q1 2025 revenue of 735.36 billion yuan, a decrease of 6.9% year-on-year, with a net profit of 13.26 billion yuan, down 27.6% [4] - Yunnan Baiyao achieved Q1 2025 revenue of 10.841 billion yuan, a year-on-year increase of 0.62%, with a net profit of 1.935 billion yuan, up 13.67% [5] - Haitian Flavor Industry reported Q1 2025 revenue of 8.315 billion yuan, an increase of 8.08%, and a net profit of 2.202 billion yuan, up 14.77% [6] - CICC reported Q1 2025 revenue of 5.721 billion yuan, a significant increase of 47.69%, with a net profit of 2.042 billion yuan, up 64.85% [7] Share Buybacks - China Nuclear Power plans to repurchase shares worth between 300 million and 500 million yuan, with a maximum price of 13.98 yuan per share [8] - Yituo Co., Ltd. intends to repurchase up to 10% of its issued H shares, using self-owned and raised funds [9] - Xingguang Co., Ltd.'s actual controller plans to increase shareholding by no less than 10 million yuan and no more than 20 million yuan within three months starting from April 29, 2025 [10] - Haiou Co., Ltd. plans to repurchase shares worth between 60 million and 120 million yuan, with a maximum price of 17 yuan per share [11] Risk Matters - Lifang Shuke received a notice from the CSRC regarding an investigation into suspected information disclosure violations [12] - Boda Co., Ltd. will implement a delisting risk warning starting April 30 due to negative net profit and revenue below 300 million yuan [13] - Sitong Co., Ltd. will also face a delisting risk warning starting April 30 for similar financial issues [14] - Yuanshang Co., Ltd. will implement a delisting risk warning starting April 30 due to negative financial results [15]

证券代码：601038 证券简称：一拖股份 公告编号：临 2025-21 第一拖拉机股份有限公司 关于增加销售货物日常关联交易2025年预计上限金额的公告 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： 一、日常关联交易基本情况 （一）日常关联交易履行的审议程序 1.2024 年 12 月 18 日，公司召开 2024 年第二次临时股东会，审议批准公司 与中国一拖签署 2025 年-2027 年《销售货物协议》及各年度预计关联交易上限 金额。 第一拖拉机股份有限公司（以下简称公司）经 2024 年第二次临时股东 会审议批准，与控股股东中国一拖集团有限公司（以下简称中国一拖， 同时代表公司实际控制人中国机械工业集团有限公司）签署的《销售货 物协议》2025 年日常关联交易上限金额为 34,000 万元（有关详情详见< 第一拖拉机股份有限公司关于 2025 年-2027 年日常关联交易的公告>< 第一拖拉机股份有限公司 2024 年第二次临时股东大会决议公告>）。 公司因生产经营需要，按照一般商业条款测算，拟 ...

证券代码：601038 证券简称：一拖股份 公告编号：临 2025－20 第一拖拉机股份有限公司 本公司监事会及全体监事保证本公告内容不存在虚假记载、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。 一、监事会会议召开情况 第一拖拉机股份有限公司（以下简称公司）第九届监事会第十七次会议（以 下简称本次会议）于 2025 年 4 月 28 日在公司营业地以现场方式召开。会议通知 已于 2025 年 4 月 16 日通过电子邮件方式发送给各位监事。本次会议应出席监事 5 名，实际出席监事 5 名。会议由监事会主席杨郁先生主持。本次会议召开符合 有关法律法规和公司《章程》《监事会议事规则》等规定。 二、监事会审议情况 （一）《公司 2024 年度环境、社会和治理报告》 表决结果：同意 5 票，反对 0 票，弃权 0 票。 有关详情见公司于本公告同日在上海证券交易所网站刊发的《公司 2024 年 度环境、社会和治理报告》。 （二）《公司 2025 年第一季度报告》 全体监事一致认为：公司 2025 年第一季度报告的编制及审核程序符合法律、 法规、公司《章程》和公司管理制度的规定，其内容 ...

证券代码：601038 证券简称：一拖股份 公告编号：临 2025-19 第一拖拉机股份有限公司 第九届董事会第三十五次会议决议公告 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。 一、董事会召开情况 第一拖拉机股份有限公司（以下简称公司、一拖股份）第九届董事会第三十 五次会议（以下简称本次会议）于 2025 年 4 月 28 日以现场结合视频方式召开。 会议通知已于 2025 年 4 月 14 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，公司监事、 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）《公司 2024 年度环境、社会和治理报告》 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 年第一次会议审议通 过本议案，并同意将本议案提交董事会审议。 有关详情见公司于本公告同日在上海证券交易所网站刊发的《公司 2024 年 ...

证券代码：601038 证券简称：一拖股份 公告编号：临 2025-22 第一拖拉机股份有限公司 关于提请股东会给予董事会回购公司H股股份之一般性授权 的提示性公告 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。 第一拖拉机股份有限公司（以下简称公司）为增强投资者信心，维护全体股 东利益，综合考虑公司当前财务状况及未来发展等因素，建议公司股东会/类别 股东会给予公司董事会回购 H 股股份之一般性授权，使公司董事会在授权范围内 可择机灵活决策实施 H 股股份回购的具体事宜。2025 年 4 月 28 日公司召开第九 届董事会第三十五次会议，审议通过《关于提请公司股东会给予董事会回购公司 H 股股份之一般性授权的议案》（以下称本次 H 股回购的一般性授权），主要内 容如下： （2）回购资金包括公司自有资金及自筹资金。 2、回购股份用途： 公司回购 H 股股份将予以注销，并相应减少注册资本。 1、回购股份总额及资金来源： （1）在符合上市规则及有关监管规定的前提下，公司在有关授权期间可回 购 H 股股份总数不超过公司已发行 H ...

Financial Performance - The company's operating revenue for Q1 2025 was approximately ¥4.56 billion, a decrease of 2.13% compared to ¥4.66 billion in the same period last year[6]. - Net profit attributable to shareholders was approximately ¥529.5 million, down 11.66% from ¥599.4 million year-on-year[6]. - Basic and diluted earnings per share were both ¥0.4712, reflecting an 11.66% decline from ¥0.5334 in the previous year[6]. - Operating profit for Q1 2025 was approximately ¥622 million, a decrease of 11.2% from ¥700 million in Q1 2024[21]. - Net profit for Q1 2025 was approximately ¥536 million, down 11.7% from ¥607 million in Q1 2024[21]. - Total operating costs for Q1 2025 were approximately ¥4.03 billion, down 0.6% from ¥4.06 billion in Q1 2024[20]. - The company reported a tax expense of approximately ¥86 million for Q1 2025, down from ¥96 million in Q1 2024[21]. Cash Flow and Liquidity - The net cash flow from operating activities decreased by 64.76%, from ¥247 million to approximately ¥87 million, primarily due to seasonal sales impacts[6][8]. - Cash flow from operating activities for Q1 2025 was approximately ¥87 million, a significant decrease of 64.8% compared to ¥247 million in Q1 2024[24]. - Cash flow from investing activities for Q1 2025 was approximately ¥326 million, a recovery from a negative cash flow of approximately ¥518 million in Q1 2024[25]. - Cash and cash equivalents increased to RMB 2,606,089,432.79 from RMB 2,345,044,150.92, marking a growth of about 11.1%[15]. - Cash and cash equivalents at the end of Q1 2025 totaled approximately ¥2.19 billion, an increase from ¥1.95 billion at the end of Q1 2024[25]. Assets and Liabilities - Total assets increased by 8.88% to approximately ¥15.99 billion, compared to ¥14.69 billion at the end of the previous year[6]. - The company's total liabilities increased to RMB 7,679,708,982.76 from RMB 6,913,064,048.45, reflecting a rise of about 11.1%[17]. - Accounts receivable surged to RMB 1,913,550,148.86 from RMB 302,269,723.59, showing a significant increase of approximately 532.5%[15]. - Inventory decreased to RMB 1,216,723,722.71 from RMB 1,374,778,847.98, reflecting a decline of about 11.5%[15]. Shareholder Information - The total number of common shareholders at the end of the reporting period was 37,723, with 37,436 being A-shareholders[9]. - The largest shareholder, China Yituo Group Co., Ltd., held 48.81% of the shares, totaling approximately 548.49 million shares[11]. - Shareholders' equity attributable to the parent company rose by 7.34% to approximately ¥7.79 billion from ¥7.26 billion[6]. - The total equity attributable to shareholders rose to RMB 7,788,081,504.56, up from RMB 7,255,707,334.12, indicating an increase of approximately 7.3%[17]. Strategic Initiatives - The company plans to continue its market expansion and product development strategies, although specific figures were not disclosed in the conference call[18]. - The board of directors' term is set to be extended, ensuring continuity in governance and strategic direction[13]. - The company reported no significant changes in major shareholders or their participation in financing activities during the reporting period[13]. Research and Development - Research and development expenses for Q1 2025 were approximately ¥87 million, a decrease of 8.6% from ¥95 million in Q1 2024[20]. Accounting Changes - The company will implement new accounting standards starting from 2025, which will involve adjustments to the financial statements at the beginning of the year[26].

公司地址：河南省洛阳市建设路154号 邮政编码：471004 联系电话：0379-64967038 联络邮箱：msc0038@ytogroup.com 关于本报告 董事长致辞 走进一拖股份 ESG治理篇 专题 绿色智造护航篇 责任同行聚力篇 治理守正固本篇 展望未来 附录 目 录 | 关于本报告 | 001 | | --- | --- | | 董事长致辞 | 003 | | 专题 | 019 | | 走进 | | | --- | --- | | 一拖股份 | | | 公司简介 | 007 | | 企业文化 | 008 | | 业务概况 | 009 | | 年度荣誉 | 010 | 绿色智造 护航篇 | 强化管控 筑牢环境防线 | 025 | | --- | --- | | 低碳转型 应对气候挑战 | 027 | | 循环驱动 提升资源效能 | 030 | | 治污攻坚 守护碧水净土 | 036 | | 生态共生 构建多样屏障 | 040 | ESG 治理篇 | ESG 治理体系 | 013 | | --- | --- | | 双重重要性分析 | 014 | | ESG 风险、影响与机遇 | 016 | | 指 ...

一拖股份（601038）公告，2025年第一季度营收为45.57亿元，同比下降2.13%；净利润为5.29亿元，同 比下降11.66%。 ...

今日，国务院关税税则委员会公布公告称， 4月10日，美国政府宣布对中国输美商品征收"对等关税"的 税率进一步提高至125% ，美方对华肆意加征畸高关税，严重违反国际经贸规则。国务院关税税则委员 会调整对原产于美国的进口商品加征关税措施，由84%提高至125%。在此背景下，农机产业需求释放 的预期增强。 东吴证券分析师周尔双介绍， 2024年我国从美国进口的主要商品中，农副产品金额占比达到16.3%， 仅次于机械电子类产品 。周尔双判断，关税提升之后我国从美国进口农产品总量预计有所下降，有望 对国内粮食价格形成上涨支撑，利好农机行业需求。 事实上，自2024年下半年以来，我国粮食进口已经逐渐放缓，小麦、玉米等进口大幅下降，且在2025 年一季度粮食进口有望延续下降趋势。 对于粮价向农机需求的传导，中联重科(000157)近期接待调研时表示，2025年粮食价格有望回升，随 着粮食价格上涨，预计后续用户购机意愿会有所提升，但受制于农户2024年收益大幅降低或亏损，今 年的采购不会出现增长或下滑，随着粮食价格的增长和2025年的用户收益增加，有望看到2026年农业 机械市场景气度转好。 进口替代则是农机行业另一大趋势 ...