（文章来源：证券日报） 证券日报网讯 12月2日，中力股份在互动平台回答投资者提问时表示，公司高度重视对股东的回报，将 根据要求，严格按照已披露的利润分配方案及时间安排推进分红方案的相关工作。具体实施进展及股权 登记日、除权除息日等关键时间点，请以公司后续在法定信息披露媒体发布的正式公告为准。 ...

Core Viewpoint - Zhongli Co., Ltd. (603194) is actively implementing measures to enhance operational quality and core competitiveness, aiming to reward investor trust with improved performance [1] Group 1: Company Initiatives - The company emphasizes its commitment to making handling simpler and greener, reflecting its foundational mission [1] - Continuous product innovation, channel development, and investments in digitalization and intelligence are key strategies for improving operational efficiency [1]

（编辑 袁冠琳） 证券日报网讯 12月1日，中力股份在互动平台回答投资者提问时表示，二级市场的股价波动受宏观经济 环境、行业政策、市场情绪等多重复杂因素影响，敬请注意投资风险。公司一直致力于强化信息披露与 主动沟通，明确战略规划与优化投资者回报，用更好的业绩回报投资者信任。 ...

Investment Rating - The report assigns an "Accumulate" rating for Zhongli Co., Ltd. (603194) [1] Core Views - Zhongli Co., Ltd. is a global leader in electric warehouse forklifts, driving the transformation of material handling technology towards electrification, greening, and intelligence [2][16] - The company has a complete product line of warehouse forklifts and intelligent handling robots, with a strong market position in China and significant international presence [2][3] - The company is expected to benefit from the ongoing electrification trend in the forklift industry, with robust revenue and profit growth projected in the coming years [4][48] Summary by Sections Company Overview - Established in 2007, Zhongli Co., Ltd. focuses on the R&D, production, and sales of forklifts and intelligent handling robots, leading the industry in electrification and green development [2][16] - The company has maintained a leading market share in electric warehouse forklifts in China since 2013, with a strong international sales network covering North America, Europe, and Southeast Asia [2][16] Financial Performance - Revenue is projected to grow from 22 billion yuan in 2019 to 66 billion yuan in 2024, with a CAGR of 25% [2][26] - The net profit attributable to shareholders is expected to increase from 1.5 billion yuan in 2019 to 8.4 billion yuan in 2024, with a CAGR of 41% [2][26] - For the first three quarters of 2025, the company reported a revenue of 52 billion yuan, up 8.6% year-on-year, and a net profit of 6.9 billion yuan, up 5.5% year-on-year [2][26] Market Trends - The forklift industry is expected to grow at a CAGR of approximately 8% from 2015 to 2024, driven by investments in manufacturing and logistics, as well as the electrification trend [2][3] - The global market for balance-weight forklifts is projected to have significant growth potential, with the lithium battery penetration rate expected to increase [3][41] Competitive Advantages - Zhongli Co., Ltd. has a strong competitive edge due to its established brand, comprehensive product offerings, and significant international market share [3][41] - The company's gross profit margin has improved from 26.7% in 2022 to 29.7% in 2025, driven by scale effects and efficient management [28][41] - The company maintains a higher gross margin compared to domestic competitors, with a sales gross margin of 29.7% and a net profit margin of 13.3% [41][44] Future Outlook - The company is well-positioned to capitalize on the ongoing electrification and automation trends in the material handling industry, with expected growth in both domestic and international markets [4][48] - The strategic focus on intelligent logistics solutions and the development of autonomous handling equipment is anticipated to further enhance growth opportunities [3][4]

Group 1 - The core viewpoint of the news is that Zhongli Co., Ltd. has shown a slight increase in stock price and notable trading activity, indicating investor interest and potential growth in the electric forklift market [1] - On November 27, Zhongli Co., Ltd. experienced a stock price increase of 0.16% with a trading volume of 38.89 million yuan, and a net financing purchase of 1.23 million yuan [1] - As of November 27, the total margin balance for Zhongli Co., Ltd. is 170 million yuan, which accounts for 9.03% of its circulating market value [1] Group 2 - For the period from January to September 2025, Zhongli Co., Ltd. achieved an operating income of 5.243 billion yuan, representing a year-on-year growth of 8.62%, and a net profit attributable to shareholders of 685 million yuan, up 5.46% year-on-year [1] - The company has distributed a total of 253 million yuan in dividends since its A-share listing [2] - As of September 30, 2025, the number of shareholders for Zhongli Co., Ltd. is 18,200, a decrease of 9.15% from the previous period, while the average circulating shares per person increased by 10.07% to 2,834 shares [1]

Core Insights - The engineering machinery sector experienced a slight increase of 0.08% on November 27, with N Nant leading the gains [1] - The Shanghai Composite Index closed at 3875.26, up 0.29%, while the Shenzhen Component Index closed at 12875.19, down 0.25% [1] Engineering Machinery Sector Performance - N Nant saw a significant rise in its closing price to 24.51, with a remarkable increase of 183.03% and a trading volume of 525,200 shares, resulting in a transaction value of approximately 1.396 billion yuan [1] - Other notable performers included Hengli Hydraulic, which increased by 10.00% to a closing price of 101.38, with a trading volume of 322,700 shares and a transaction value of about 3.172 billion yuan [1] - The overall trading activity in the engineering machinery sector showed mixed results, with some stocks experiencing declines [2] Capital Flow Analysis - The engineering machinery sector saw a net outflow of 263 million yuan from institutional investors and a net outflow of 107 million yuan from speculative funds, while retail investors contributed a net inflow of 370 million yuan [2] - Specific stocks like Hengli Hydraulic and N Nant had varying capital flows, with Hengli Hydraulic experiencing a net inflow of approximately 56.73 million yuan from institutional investors [3] - The overall sentiment in the sector indicates a cautious approach from institutional and speculative investors, contrasted by retail investor confidence [2][3]

Core Insights - The overall forklift sales in October 2025 reached 114,300 units, representing a year-on-year growth of 15.9% [2] - Domestic sales accounted for 70,400 units, with a growth of 16.2%, while overseas sales were 43,900 units, also growing by 16.2% [2] - Cumulative forklift sales from January to October 2025 totaled 1,220,700 units, marking a 14.2% increase year-on-year [2] Group 1: Market Performance - Forklift sales in October showed robust double-digit growth in both domestic and overseas markets, driven by enhanced competitiveness of domestic companies and rising global demand [3] - The demand for forklifts is closely linked to the manufacturing and logistics sectors, with positive indicators from macroeconomic data suggesting a gradual recovery in domestic demand [3] - The social logistics total in September 2025 increased by 5.4% year-on-year, indicating a stable growth trend in logistics activities [3] Group 2: Technological Advancements - Hangcha Group launched the X1 series humanoid robots at the Asia International Logistics Technology and Transportation Systems Exhibition, marking a significant shift towards intelligent logistics solutions [4] - The X1 series integrates efficient mobility with dexterous operation, promising to enhance logistics efficiency and flexibility across various industries [4] Group 3: Green Initiatives - Hangcha completed a significant order for 108 hydrogen-powered forklifts, showcasing its commitment to green technology and low-carbon solutions [5] - The hydrogen forklifts are designed for high-intensity operations in logistics and manufacturing, featuring zero emissions and high efficiency [5] Group 4: Industry Trends - JD Logistics plans to procure 3 million robots, 1 million unmanned vehicles, and 100,000 drones over the next five years, indicating a major push towards automation in logistics [6] - This initiative represents a transition from pilot projects to large-scale applications in smart logistics, with potential benefits for consumer experience and logistics costs [6] Group 5: Investment Opportunities - The forklift industry is characterized by broad applications and a weak cyclical nature, with a strong correlation to manufacturing sector performance [7] - Domestic companies are accelerating their global expansion and establishing local production and service capabilities, enhancing their market penetration [7] - Leading domestic forklift manufacturers are actively investing in smart logistics and robotics, reshaping the competitive landscape of the logistics industry [7]

Core Viewpoint - The company, Zhejiang Zhongli Machinery Co., Ltd., focuses on the research, development, production, and sales of electric forklifts and intelligent industrial vehicles, aiming to lead the industry transformation towards greener and smarter logistics solutions [2][3]. Company Overview - Zhejiang Zhongli Machinery Co., Ltd. was established on September 20, 2007, and is located in Anji County, Huzhou City, Zhejiang Province. The company is set to be listed on December 24, 2024, with its main business involving electric forklifts and other industrial vehicles [7]. - The company's revenue composition includes 98.85% from forklifts and related parts, and 1.15% from other sources [7]. Financial Performance - For the period from January to September 2025, the company achieved a revenue of 5.243 billion yuan, representing a year-on-year growth of 8.62%. The net profit attributable to the parent company was 685 million yuan, with a year-on-year increase of 5.46% [8]. - As of September 30, 2025, the company had a total of 18,200 shareholders, a decrease of 9.15% from the previous period, with an average of 2,834 circulating shares per person, an increase of 10.07% [8]. Market Position and Strategy - The company has a significant international presence, with overseas revenue accounting for 51.63%, benefiting from the depreciation of the RMB [3]. - The company aims to transition from manual to electric handling and is pushing for a green transformation from diesel to lithium battery forklifts, while also advancing towards robotic handling solutions [3]. Product Development - The company has developed several milestone products, including the "Little King Kong" electric forklift, oil-to-electric forklifts, and the "搬马" (Bān Mǎ) robotic series, which are designed to enhance automation, flexibility, and safety in logistics operations [2][3].

Core Viewpoint - The company, Zhejiang Zhongli Machinery Co., Ltd., is positioned to benefit from the depreciation of the RMB and is focused on innovation in electric forklifts and intelligent logistics, aiming to lead the industry transformation towards greener and smarter solutions [2][3]. Company Overview - Zhejiang Zhongli Machinery Co., Ltd. was established on September 20, 2007, and is set to be listed on December 24, 2024. The company specializes in the research, production, and sales of electric forklifts and other industrial vehicles [7]. - The main business revenue composition includes 98.85% from forklifts and related parts, and 1.15% from other sources [7]. Financial Performance - For the period from January to September 2025, the company achieved a revenue of 5.243 billion yuan, representing a year-on-year growth of 8.62%. The net profit attributable to the parent company was 685 million yuan, with a year-on-year increase of 5.46% [8]. Market Position and Trends - As of September 30, 2025, the company had 18,200 shareholders, a decrease of 9.15% from the previous period, with an average of 2,834 circulating shares per person, an increase of 10.07% [8]. - The company is classified under the machinery equipment sector, specifically in engineering machinery, and is associated with concepts such as new industrialization, robotics, smart logistics, and newly listed stocks [8]. Product Innovation - The company has developed several milestone products, including the "Little King Kong" electric forklift and the "搬马" (Moving Horse) robot, which are designed to enhance efficiency and reduce manual handling [2][3]. - The "搬马" robot series, launched in 2020, features high automation, flexibility, and safety, aimed at reducing ineffective handling and lowering the barriers to the application of mobile handling robots [2]. Stock Performance - On November 24, the stock price of Zhongli shares increased by 0.74%, with a trading volume of 47.5594 million yuan and a turnover rate of 2.53%, leading to a total market capitalization of 14.705 billion yuan [1]. - The average trading cost of the stock is 40.61 yuan, with recent trading showing a decrease in holdings but at a slowing rate [6]. Institutional Holdings - As of September 30, 2025, the top ten circulating shareholders included the Southern CSI 1000 ETF, holding 479,500 shares, a decrease of 7,600 shares from the previous period, while the Guangfa Jixuan Bond A became a new shareholder with 380,000 shares [9].

证券代码：603194 证券简称：中力股份公告编号：2025-052 浙江中力机械股份有限公司 2025年第二次临时股东会决议公告 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 (一)股东会召开的时间：2025年11月21日 (二)股东会召开的地点：浙江省湖州市安吉县天荒坪北路浙江中力机械股份有限公司北区公司会议室 2、公司在任监事3人，出席3人； 3、董事会秘书出席本次会议，部分高级管理人员列席本次会议。 二、议案审议情况 (一)非累积投票议案 (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： ■ (四)表决方式是否符合《公司法》及《公司章程》的规定，大会主持情况等。 本次会议由公司董事会召集，由公司董事长何金辉先生主持，采取现场投票和网络投票相结合的表决方 式，本次会议的召集、召开及表决方式符合《中华人民共和国公司法》《上市公司股东会规则》《上海 证券交易所股票上市规则》等有关法律、行政法规、部门规章、规范性文件和《浙江中力机械股 ...