证券代码：603298 证券简称：杭叉集团 公告编号：2025-042 杭叉集团股份有限公司 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 (四)现场会议召开的日期、时间和地点 召开的日期时间：2025 年 8 月 13 日 14 点 00 分 召开地点：浙江省杭州市临安区相府路 666 号公司办公大楼一楼 8 号会议室 二、 会议审议事项 股东大会召开日期：2025年8月13日 本次股东大会采用的网络投票系统：上海证券交易所股东大会网络投票 系统 (一)股东大会类型和届次 2025年第一次临时股东大会 (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 (五)网络投票的系统、起止日期和投票时间。 网络投票系统：上海证券交易所股东会网络投票系统 网络投票起止时间：自2025 年 8 月 13 日 至2025 年 8 月 13 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的 ...

一、董事会会议召开情况 杭叉集团股份有限公司 第七届董事会第二十七次会议决议公告 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。 证券代码：603298 证券简称：杭叉集团 公告编号：2025-038 杭叉集团股份有限公司（以下简称"公司"或"杭叉集团"）于 2025 年 7 月 28 日以现场结合通讯表决方式召开第七届董事会第二十七次会议。会议通知 已于 2025 年 7 月 23 日以通讯方式发出。本次会议应参会董事 9 名，实际参会董 事 9 名。公司监事及部分高级管理人员列席了本次会议。本次会议由董事长赵礼 敏先生主持，与会董事就各项议案进行了审议并以书面记名投票的方式进行表 决。会议的召集与召开符合《公司法》及《公司章程》的有关规定，会议决议合 法、有效。 二、董事会会议审议情况 经与会董事表决，会议听取、审议并通过了以下表决事项： 1、审议通过《关于取消监事会、修订<公司章程>的议案》 详见公司同日于上海证券交易所网站（www.sse.com.cn）及《证券时报》披 露的《关于取消监事会、修订<公司章程>及部分制度 ...

Summary of Hangcha Group Conference Call Company Overview - Hangcha Group is a leading company in the Chinese forklift industry, benefiting from increased market share and enhanced profitability, with a long-term ROE level that is relatively high [2][3] Financial Performance and Projections - Expected net profits for 2025-2027 are projected to be 2.22 billion RMB, 2.56 billion RMB, and 3.01 billion RMB, with a compound annual growth rate (CAGR) of 16% [2][10] - The company's valuation is estimated at 13 times PE for 2025, 11 times for 2026, and 10 times for 2027, indicating potential for strategic revaluation [5][28] - In 2024, the company’s revenue is expected to reach 16.5 billion RMB, with a year-on-year growth of 1% [15] Market Dynamics - In 2023, global forklift sales reached 2.14 million units, with a CAGR of 8%, and China accounted for 36% of global sales [4][17] - The market for unmanned forklifts is experiencing rapid growth, with global sales expected to increase by 46% in 2024, and the Chinese market by 26% [2][20] - Electric forklifts are replacing internal combustion models, with lithium batteries gradually replacing lead-acid batteries, showing a CAGR of 76% from 2019 to 2024 [4][23] Strategic Developments - Hangcha Group has actively entered the unmanned forklift and humanoid robot sectors, with plans to launch humanoid logistics robots in October [2][6] - The acquisition of Zhejiang Guozi Robotics aims to achieve technological and channel synergies, with projected revenues of 330 million RMB and net profits of approximately 66 million RMB in 2024 [2][9] - The company’s core business includes complete machine sales, intelligent logistics system solutions, and aerial work vehicles, with machine sales and parts accounting for 98.5% of revenue in 2024 [11][12] Competitive Landscape - In the global market, Toyota holds a 28% market share, while Hangcha has an 11% share [4][18] - The unmanned forklift market is characterized by low penetration and high growth potential, with only 2% penetration expected in 2024 [20][21] Risks and Considerations - Potential risks include slower-than-expected recovery in domestic manufacturing, overseas trade friction, and underperformance in new business developments [28] Conclusion - Hangcha Group is positioned for growth in the forklift and robotics sectors, with strong financial projections and strategic acquisitions enhancing its market competitiveness. The company is well-placed to capitalize on the trends of electrification and automation within the industry [2][5][28]

Group 1 - The report aims to summarize important weekly deep reports, significant commentary, and marginal changes within the macro strategy team of large manufacturing [1] - Core stocks identified by the team include Huada Jiutian, Shanghai Yanpu, Zhejiang Rongtai, and others [1] - The core portfolio consists of companies such as Sany Heavy Industry, XCMG Group, and others, indicating a focus on key players in the manufacturing sector [1] Group 2 - As of July 18, 2025, the best-performing indices in the last week included Communication (+8%), Pharmaceutical Biology (+4%), and Automotive (+3%) [2][13] - The top three indices in the large manufacturing sector were Changjiang Lithium Battery Equipment Index (+5%), Automotive Parts (+4%), and Automotive (+3%) [2][15] - A deep report on Xuguang Electronics highlights its leadership in domestic vacuum devices and growth potential in controllable nuclear fusion and electronic materials [4] Group 3 - The report indicates that the total investment of approximately 1.2 trillion yuan in the Yarlung Zangbo River downstream hydropower project has commenced, driving demand for construction machinery [3] - The defense sector is expected to benefit from military trade leading to strategic reassessment, particularly in regions like the Middle East [3] - The competitive landscape for vacuum arc extinguishing chambers shows a high concentration in the domestic market, with a CR2 of about 60% [5] Group 4 - The report forecasts a revenue CAGR of approximately 35% for the megawatt-level electronic tube segment from 2024 to 2027 [4] - The power equipment business is expected to achieve a revenue CAGR of about 10% during the same period, driven by ongoing investments in the power grid [4] - The military business is projected to benefit from increased defense spending, with precision structural components expected to account for 58% of military revenue in 2024 [5] Group 5 - The report anticipates that the company will achieve revenues of 1.95 billion, 2.39 billion, and 3.03 billion yuan from 2025 to 2027, with a CAGR of 24% [4] - The expected net profit for the same period is projected to be 170 million, 210 million, and 270 million yuan, with a CAGR of 39% [4] - The report highlights the company's strong position in the domestic aluminum nitride materials market, benefiting from domestic substitution trends [5] Group 6 - The report notes that the company has a high market share in the medical information technology sector, covering approximately 60% of tertiary hospitals by the end of 2024 [6] - The expected growth in the domestic medical software industry is projected at a CAGR of 11.5% from 2024 to 2029 [6] - The company is collaborating with major players like Huawei to develop a comprehensive intelligent medical information platform [6]

Investment Rating - The industry investment rating is "Positive" (maintained) [2][6] Core Viewpoints - The humanoid robot industry is experiencing dual-driven growth from both industrial and capital sectors, accelerating the process of embodied intelligence industrialization [3] - The report anticipates that by 2030, the combined demand for humanoid robots in the manufacturing and domestic service sectors in China and the US will reach approximately 2.03 million units, representing a market space of about 318.5 billion RMB [3] - The overall market space for the entire industry chain is estimated to be around 300 billion RMB, with significant growth potential in core components such as planetary roller screws, harmonic reducers, and dexterous hands [3] Summary by Sections Recent Events - On June 25, Zhiyuan Robotics and Yushu Technology won a bid for a humanoid biped robot contract worth approximately 124 million RMB (including tax) [3] - Zhiyuan's bid includes a full-size humanoid biped robot with a budget of 78 million RMB, while Yushu's bid includes a small-size humanoid robot and other components with a budget of 46.05 million RMB [3] - On July 8, Yuwai New Materials announced that Zhiyuan's new venture plans to acquire at least 63.6% of its shares [3] - Cloud Deep announced the completion of nearly 500 million RMB in new financing on July 8 [3] Market Dynamics - The report highlights that the humanoid robot industry is entering a phase of rapid expansion, driven by both international giants and domestic leaders [3] - The demand for humanoid robots is expected to significantly increase, with the market for core components showing high value ratios, particularly in planetary roller screws and six-dimensional force sensors [3] Investment Recommendations - The report suggests focusing on established leaders and undervalued stocks, emphasizing the importance of management commitment, past performance validation, and future application scenarios [3] - Key recommended stocks include Shanghai Yanpu, Hangcha Group, and others across various segments such as complete machines, dexterous hands, and sensors [3][4]

Core Viewpoint - Hangcha Group's subsidiary, Zhejiang Hangcha Intelligent Technology Co., Ltd., plans to increase capital and acquire 99.23% of the shares of Zhejiang Guozi Robot Technology Co., Ltd., despite the latter's recent financial losses and high asset-liability ratio [2][3][12]. Financial Performance - The audited net profit of Guozi Robot for 2023 was -260.19 million yuan, while it is projected to turn a profit of 66.36 million yuan in 2024, indicating a successful adjustment in business strategy [2][3][10]. - As of March 31, 2025, Guozi Robot's net assets were -50.04 million yuan, with a high asset-liability ratio of 108.08% [3][16]. Business Strategy and Market Position - Guozi Robot, established in 2011, specializes in intelligent inspection and logistics AGV products, holding a significant market share in these sectors [4][5]. - The company has a strong focus on technological innovation, with 288 authorized patents, including 119 invention patents, and has received numerous awards for its advancements [5][20]. Industry Context - The logistics robot and intelligent systems industry has high barriers to entry, requiring specialized talent and extensive technical capabilities [6]. - Guozi Robot's competitive advantages include a robust product system and extensive industry application experience, serving over 1,000 clients across various sectors [7][8]. Profitability and Cost Management - Guozi Robot's gross profit margin improved significantly from -6.45% in 2023 to 49.96% in early 2025, driven by strategic shifts towards high-margin projects [9][10]. - The company has optimized its cost structure, reducing sales, management, and R&D expenses significantly in 2024, contributing to its profitability [10][11]. Future Outlook - The acquisition is expected to enhance Hangcha Group's operational quality and market position in the intelligent logistics sector, leveraging Guozi Robot's technological capabilities and customer resources [19][21][22].

Group 1 - The board of directors of Hangcha Group convened its 26th meeting on July 18, 2025, with all 9 directors present, and the meeting was deemed legal and effective [1][2] - The company plans to establish a joint venture named "France Ales Lithium Battery Co., Ltd." in France with MANITOU BF, aiming to enhance its global industrial chain layout and respond to changes in the international trade environment [1] - The registered capital for the joint venture is set at 600 million euros, with Hangcha Group holding a 51% stake and MANITOU BF holding 49% [1] Group 2 - The joint venture will focus on the production, assembly, and sales of battery cells, modules, and systems, as well as providing customized lithium battery services and technical consulting [1] - The final registration details and name of the joint venture will be confirmed based on local regulations and approvals [2]

坤 元资产评估有限公司 CanWin Appraisal Co., Ltd 关于杭叉集团股份有限公司控股子公司以增资扩股 方式收购关联方资产事项的监管工作函中 有关评估事项的回复 上海证券交易所: 由杭叉集团股份有限公司(以下简称杭叉集团)转来的《关于杭叉集团股份 有限公司控股子公司以增资扩股方式收购关联方资产事项的监管工作函》(上证 公函(2025)0989 号,以下简称监管工作函)奉悉。我们已对监管工作函中需 要我们说明的评估事项进行了审慎核查,现将监管工作函中与资产评估相关的问 题的核查情况汇报如下: 一、列示收益法具体评估计算过程、相关评估参数,包括但不限于营业收 入、毛利率、净利润、经营活动现金流净额、收入增长率、期间费用率、折现 率等,并结合标的公司前期经营情况说明上述参数选取是否合理、审慎; (一) 收益法的模型 监管工作函第2题:关于标的公司估值作价。公告显示,截至2025年3月 31 日,标的公司净资产为-5,004.35 万元,标的公司股东全部权益价值采用资 产基础法的评估结果为-1,423.71 万元,收益法的评估结果为 40,100.00 万元。 公司采用收益法评估结论作为标的公司股东 ...

● 杭叉集团股份有限公司（以下简称"公司""杭叉集团"）控股子公司浙江 杭叉智能科技有限公司（以下简称"杭叉智能"）本次拟增资扩股收购浙江国自机 器人技术股份有限公司（以下简称"标的公司"或"国自机器人"）99.23%的股份， 其中，标的公司 2023 年度经审计的净利润为-26,018.90 万元，处于亏损状态。 经过经营策略调整，标的公司 2024 年度经审计后净利润为 6,635.83 万元，扣非 归母净利润为 323.85 万元，扣非归母净利润处于微盈利状态。虽然经营策略的成 功调整使得标的公司 2024 年扭亏为盈，且标的公司根据现有的经营情况、业务发 展等对未来实现持续盈利具有信心，若标的公司后续因为内外部环境等发生不利 变化导致业务发展不及预期，则可能会出现再次亏损的情况。 ● 本次交易评估基准日为 2025 年 3 月 31 日，标的公司在评估基准日经审计 的归母净资产值为-5,004.35 万元，合并资产负债率为 108.08%，净资产为负数且 资产负债率较高。虽然标的公司 2024 年度的经营现金流已同比大幅改善、资产负 债率同比降低，但较大的负值净资产和资不抵债的状况使得标的公司仍然存在 ...

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 杭叉集团股份有限公司（以下简称"杭叉集团"或"公司"）于 2025 年 7 月 18 日以现场表决方式召开第七届董事会第二十六次会议。会议通知已于 2025 年 7 月 13 日以通讯方式发出。本次会议应参会董事 9 名，实际参会董事 9 名。本次会议由董事 长赵礼敏先生主持，与会董事就本次议案进行了审议并以书面记名投票的方式进行表 决。公司监事及部分高级管理人员列席了本次会议。会议的召集与召开符合《公司法》 及《公司章程》的有关规定，会议决议合法、有效。 二、董事会会议审议情况 证券代码：603298 证券简称：杭叉集团 公告编号：2025-036 杭叉集团股份有限公司 第七届董事会第二十六次会议决议公告 上述登记事项最终以注册地审核批准为准以及根据当地法律可能存在的特别要 求或临时性变化而变化，存在无法成立的风险。 表决结果：同意 9 票，反对 0 票，弃权 0 票。 特此公告。 杭叉集团股份有限公司董事会 经与会董事表决，会议听取、审议并通过了以下表 ...