证券代码：000528 证券简称：柳 工 公告编号：2025-36 债券代码：127084 债券简称:柳工转2 广西柳工机械股份有限公司 关于董事会换届选举的公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 广西柳工机械股份有限公司(以下简称"公司")第九届董事会任期已满,根据《中 华人民共和国公司法》《深圳证券交易所上市公司规范运作指引》及《公司章程》等有关 规定,公司于 2025年 4 月 24 日召开了第九届董事会第二十九次会议,审议通过了《关 于公司董事会换届暨选举第十届董事会非独立董事的议案》和《关于公司董事会换届暨 选举第十届董事会独立董事的议案》。现将本次董事会换届选举的相关事项公告如下： 公司第十届董事会由11名董事组成，其中非独立董事7名，独立董事4名。经公司 股东单位及董事会推荐,第九届董事会提名委员会资格审查,提名郑津先生、黄海波 先生、文武先生、罗国兵先生、黄旭先生、苏子孟先生（外部董事）、吕仁志先生 （外部董事）为公司第十届董事会非独立董事候选人；提名李嘉明先生、陈雪萍女 士、邓腾江先生、黄志敏女士为公司第十届董事会独立董事候选人 ...

Investment Rating - The report maintains a "Buy" rating for the company, indicating a positive outlook for future performance [1][9]. Core Views - In Q1 2025, the company's net profit attributable to shareholders increased by 32% year-on-year, driven by strong performance in domestic and international markets, particularly in earthmoving and non-earthmoving machinery [2]. - The company's gross profit margin for Q1 2025 was 22.0%, a slight decrease of 0.8 percentage points year-on-year, while the net profit margin improved by 0.5 percentage points, reflecting ongoing enhancements in profitability [3]. - The completion of the mixed-ownership reform in 2022 has significantly boosted the company's growth potential, with share buybacks and increased holdings by major shareholders demonstrating confidence in long-term development [4]. Financial Performance Summary - For 2023A, total revenue is projected at 27,519 million yuan, with a year-on-year growth of 3.93%. By 2025E, revenue is expected to reach 35,012 million yuan, reflecting a growth rate of 16.46% [1]. - The net profit attributable to shareholders is forecasted to be 867.81 million yuan in 2023A, increasing to 2,071.69 million yuan by 2025E, representing a growth of 56.11% [1]. - The latest diluted EPS is expected to rise from 0.43 yuan in 2023A to 1.03 yuan in 2025E, indicating a strong upward trend in earnings per share [1].

Investment Rating - The report maintains a "Buy" rating for the company [1] Core Views - In Q1 2025, the company's net profit attributable to shareholders increased by 32% year-on-year, with total revenue reaching 9.15 billion yuan, a 15.2% increase compared to the previous year [2] - The company is positioned to benefit from an upward cycle in domestic earthmoving machinery, with an expected revenue share of approximately 50% from this segment in 2024 [2] - The company's profitability continues to improve, with a net profit margin of 7.0%, up 0.5 percentage points year-on-year, despite a slight decline in gross margin due to accounting adjustments [3] - The mixed-ownership reform has enhanced the company's growth potential, and share buybacks reflect long-term confidence in its development [4] Financial Performance Summary - The company achieved total revenue of 27.519 billion yuan in 2023, with projected revenues of 30.063 billion yuan in 2024 and 35.012 billion yuan in 2025, reflecting a year-on-year growth rate of 9.24% and 16.46% respectively [1][10] - The net profit attributable to shareholders is forecasted to grow from 1.328 billion yuan in 2024 to 2.072 billion yuan in 2025, indicating a growth rate of 56.11% [1][10] - The latest diluted EPS is expected to rise from 0.66 yuan in 2024 to 1.03 yuan in 2025, with a corresponding P/E ratio decreasing from 16.56 to 10.60 [1][10]

广西柳工机械股份有限公司 关于控股股东增持公司股份计划的公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚假记载、误 导性陈述或重大遗漏。 债券代码：127084 债券简称：柳工转2 证券代码：000528 证券简称：柳 工 公告编号：2025-40 1. 广西柳工机械股份有限公司（以下简称"公司"）控股股东广西柳工集团有限公司 （以下简称"柳工集团"）基于对上市公司未来发展前景的信心和对公司长期价值的合理判 断，计划自本公告披露之日起 6 个月内，通过深圳证券交易所交易系统以集中竞价交易的 方式，合计增持金额为 2.5~5.0 亿元人民币。 2. 本次增持计划不设价格区间。 3. 本次增持计划不触及要约收购，不会导致公司控股股东及实际控制人发生变化。 4. 本次增持计划可能存在因资本市场发生变化或政策因素等导致增持计划延迟实施 或无法完成实施的风险，敬请广大投资者注意投资风险。 近日，公司收到控股股东柳工集团出具的《关于广西柳工机械股份有限公司增持计划 的函》，基于对上市公司未来发展前景的信心和对公司长期价值的合理判断，为维护资本 市场的健康稳定，提振广大投资者的信心，同时确保国有控股地 ...

Core Viewpoint - The controlling shareholder of Liugong, Guangxi Liugong Group Co., Ltd., plans to increase its stake in the company by investing between 250 million to 500 million RMB, reflecting confidence in the company's future development and long-term value assessment [1] Summary by Relevant Categories Shareholder Actions - The controlling shareholder intends to conduct the share buyback within six months from the announcement date through the Shenzhen Stock Exchange via centralized bidding [1] - The total amount for the planned share buyback is set between 250 million to 500 million RMB [1] Company Stability - The share buyback plan does not set a price range and will not trigger a mandatory takeover bid [1] - The increase in shareholding will not lead to any changes in the controlling shareholder or actual controller of the company [1]

3、会议召开的合法、合规性：本次股东大会的召集、召开程序符合有关法律、行 政法规、部门规章、规范性文件、深圳证券交易所（以下简称"深交所"）业务规则及 《公司章程》的规定。 证券代码：000528 证券简称：柳 工 公告编号：2025-39 债券代码：127084 债券简称：柳工转2 广西柳工机械股份有限公司 关于召开 2024 年度股东大会的通知 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 一、召开会议的基本情况 1、股东大会届次：公司 2024 年度股东大会。 2、股东大会的召集人：公司董事会。2025年4月24日，公司第九届董事会第二十 九次会议审议通过《关于公司召开2024年度股东大会的议案》。 4、会议召开的日期、时间： （1）现场会议时间：2025 年 5 月 20 日 14:15； （2）网络投票时间：2025 年 5 月 20 日。 通过深交所互联网投票系统投票的时间：2025 年 5 月 20 日 9:15~15:00。 通过深交所交易系统进行网络投票的时间：2025 年 5 月 20 日 9:15～9:25； 9:30~11:30 和 ...

广西柳工机械股份有限公司 第九届监事会第二十三次会议决议公告 本公司及监事会全体成员保证信息披露内容的真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 债券代码：127084 债券简称：柳工转2 证券代码：000528 证券简称：柳 工 公告编号：2025-33 广西柳工机械股份有限公司（以下简称"公司"）监事会于 2025 年 4 月 14 日以电子 邮件方式发出召开第九届监事会第二十三次会议的通知，会议于 2025 年 4 月 24 日在 公司总部大楼 6E 会议室（现场+视频）如期召开。会议应到会监事 3 人，实到会监事 3 人，会议由监事会主席赖颂平先生主持。会议召开符合《公司法》和《公司章程》关于 召开监事会的有关规定。会议经审议、表决，形成如下决议： 一、《关于公司 2025 年第一季度计提资产减值准备的议案》 监事会认为：公司按照《企业会计准则》和有关规定，根据公司各项资产的实际情 况，对 2025 年一季度各项资产进行减值测试并计提减值准备净额共计 14,018.00 万元。 计提减值准备后能够更加公允地反映公司截至 2025 年 3 月 31 日的资产状况。该项议 案的决策程序符合相 ...

债券代码：127084 债券简称：柳工转2 证券代码：000528 证券简称：柳 工 公告编号：2025-32 广西柳工机械股份有限公司 第九届董事会第二十九次会议决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 广西柳工机械股份有限公司（以下简称"公司"）董事会于 2025 年 4 月 14 日以电子 邮件方式发出召开第九届董事会第二十九次会议的通知，会议于 2025 年 4 月 24 日在 公司总部大楼 6E 会议室（现场+视频）如期召开。会议应到会董事 11 人，实到会董事 11 人（其中外部董事苏子孟先生、董佳讯先生、王建胜先生，独立董事李嘉明先生、 陈雪萍女士、邓腾江先生、黄志敏女士均采取视频方式参会）。会议由董事长曾光安 先生主持。监事会全体监事列席了会议。本次会议通知及召开符合有关法律、法规、 规章及《公司章程》的规定，合法有效。经会议审议，作出了如下决议： 一、审议通过《关于公司 2025 年第一季度计提资产减值准备的议案》 同意公司 2025 年第一季度各项资产累计计提减值准备净额共计 14,018.00 万元， 主要如下：应收账款坏 ...

广西柳工机械股份有限公司 信息披露暂缓与豁免事务管理制度 第一章 总则 第一条 为规范广西柳工机械股份有限公司（以下简称"公司"）信息披露暂缓与豁免事务 的管理，确保公司信息披露的合规性、及时性和公平性，保护投资者合法权益，根据《中华 人民共和国证券法》《上市公司信息披露管理办法》《深圳证券交易所股票上市规则》（以下简 称《上市规则》）《上市公司信息披露暂缓与豁免管理规定》等法律法规及《广西柳工机械股份 有限公司信息披露制度》，结合公司实际情况，制定本制度。 第二条 本制度适用于公司及相关信息披露义务人暂缓、豁免披露临时报告，在定期报 告、临时报告中豁免披露中国证券监督管理委员会（以下简称"证监会"）和深圳证券交易所 （以下简称"深交所"）规定或者要求披露的内容。公司董事、监事、高级管理人员及其他相 关人员应严格遵守本制度。 第三条 公司信息披露暂缓与豁免事务的管理应遵循以下原则： （一）合法性原则：符合法律法规及监管机构的相关规定； （二）必要性原则：仅在确有必要时暂缓或豁免披露； （三）公平性原则：确保信息披露的公平性，避免选择性披露； （四）风险可控原则：确保暂缓或豁免披露的信息不会对公司及投资者造成重 ...

Financial Performance - The company's operating revenue for Q1 2025 was CNY 9,148,997,670.90, representing a 15.24% increase compared to CNY 7,938,822,313.26 in the same period last year[6]. - Net profit attributable to shareholders was CNY 657,197,042.81, up 32.00% from CNY 497,893,806.60 year-on-year[6]. - The net profit after deducting non-recurring gains and losses was CNY 612,383,327.65, reflecting a 34.09% increase from CNY 456,709,759.12 in the previous year[6]. - The weighted average return on equity rose to 3.72%, up 0.73 percentage points from 2.99% in the previous year[6]. - The total comprehensive income for the current period is CNY 668,887,042.29, compared to CNY 489,676,154.71 in the previous period, indicating an increase of about 36.7%[31]. - The net profit for the current period is CNY 643,367,120.53, an increase from CNY 515,455,760.41 in the previous period, representing a growth of approximately 24.8%[31]. - The basic earnings per share increased to CNY 0.3255 from CNY 0.2552, reflecting a growth of approximately 27.4%[31]. Cash Flow and Assets - The company's cash flow from operating activities showed a net outflow of CNY 137,741,351.36, worsening by 233.21% compared to a net outflow of CNY 41,337,175.89 in the same period last year[6]. - The cash and cash equivalents increased to CNY 8,513,801,698.32 from CNY 8,359,707,174.85, reflecting a growth of 1.8%[25]. - The cash and cash equivalents at the end of the period amounted to CNY 7,811,849,194.26, a decrease from CNY 8,053,774,236.37[34]. - The company's total assets reached CNY 49,714,912,196.37, up from CNY 47,907,158,015.10, reflecting a growth of 3.8%[26]. - Accounts receivable rose to CNY 12,227,360,902.77, a significant increase of 19.4% from CNY 10,246,089,993.94 at the beginning of the period[25]. - Inventory decreased to CNY 9,167,236,652.11 from CNY 9,416,452,406.30, showing a decline of 2.6%[25]. - Short-term borrowings increased to CNY 6,332,561,794.07, up 17.4% from CNY 5,394,658,898.96[26]. - Total liabilities rose to CNY 30,209,319,727.56, an increase of 4.6% compared to CNY 28,791,658,939.19[27]. Shareholder Information - The company reported a total of 61,554 common shareholders at the end of the reporting period[12]. - The top shareholder, Guangxi Liugong Group Co., Ltd., holds 25.05% of the shares, amounting to 505,753,552 shares[12]. - The company has not disclosed any related party relationships among the top shareholders[14]. - The company has not identified any related relationships among other social shareholders[14]. Research and Development - R&D expenses increased by 33.52% to CNY 293,907,126.61, primarily due to increased investment in R&D projects[9]. - Research and development expenses increased to CNY 293,907,126.61, up from CNY 220,120,225.34, marking a rise of approximately 33.4%[30]. Legal and Financial Challenges - The company has a total outstanding rent of CNY 36,490,190.88 and overdue interest of CNY 4,816,705.20 as of the end of 2023[17]. - The company has received execution payments of CNY 994.32 million in December 2021 and CNY 102.96 million in February 2023[17]. - The company initiated bankruptcy liquidation proceedings against Jianghang Industrial Co., which is expected to commence in January 2024[17]. - The company has a total claim of CNY 10,235.9 million against Jianghang Industrial Co., which has not been fulfilled as per the mediation agreement[17]. - The company has filed an appeal against the rejection of its bankruptcy liquidation application for Wuzhishan Group in September 2024[18]. - The company has a cumulative execution recovery amount of CNY 672 million as of December 31, 2023[18]. - The company has signed a contract with external lawyers to apply for a retrial regarding the bankruptcy case of Wuzhishan Group[18]. - The company has achieved a debt settlement agreement with Jiangsu Jianchen, resulting in a total payment of CNY 36,609,819.95[18]. - The company has reported a total debt of 54,058,879.1 yuan and accrued penalties amounting to 57,438,899.91 yuan due to multiple collection attempts failing[19]. - The court ruled that the company must pay the outstanding amount of 54,058,879.1 yuan along with penalties calculated at a daily rate of 0.05% until the effective date of the judgment[19]. - The company has faced ongoing legal challenges, including a bankruptcy application filed in 2019 and subsequent court rulings that upheld the original judgment against it[19]. - The company is currently involved in a lawsuit regarding shareholder liability for damages to creditor interests, with proceedings ongoing in Nanning Intermediate Court[19]. - The company has been ordered to fulfill its financial obligations, with the court maintaining its previous rulings despite appeals[19]. - The total amount owed by the company, including penalties, has been confirmed by the court, and enforcement actions are being pursued against its shareholders[19]. - The company’s financial difficulties have resulted in significant legal and operational challenges, impacting its overall market position[19]. - The company is actively seeking to resolve its outstanding debts through legal channels, including potential asset liquidation[19]. - The ongoing legal disputes highlight the company's precarious financial situation and the need for strategic financial management moving forward[19]. Market Strategy and Future Plans - The company plans to expand its market presence and invest in new product development to drive future growth[29]. - The company is focusing on expanding its market presence and improving cash flow through legal channels[20]. - The company is exploring new product development and technological advancements to enhance its competitive edge in the market[20]. - The company is considering strategic mergers and acquisitions to bolster its market position and operational capabilities[20]. - The company has set ambitious performance guidance for the upcoming quarters, aiming for continued growth and profitability[20].