Financial Performance - The company reported a profit distribution plan of 4.00 CNY per 10 shares (including tax) based on a total of 526,611,000 shares[4]. - The company's operating revenue for 2024 reached ¥6,030,882,914.58, an increase of 18.30% compared to ¥5,097,767,420.78 in 2023[19]. - Net profit attributable to shareholders for 2024 was ¥676,738,050.81, representing a 45.84% increase from ¥464,022,361.44 in 2023[19]. - The basic earnings per share for 2024 was ¥1.2946, up 47.01% from ¥0.8806 in 2023[19]. - The total assets at the end of 2024 amounted to ¥10,285,044,093.77, reflecting a 21.50% increase from ¥8,465,106,236.94 at the end of 2023[19]. - The company achieved a revenue of 6.031 billion yuan in 2024, representing a year-on-year growth of 18.30%, with a net profit of 677 million yuan, up 45.84%[47]. - Total revenue for 2024 reached ¥6,030,882,914.5, representing an 18.30% increase from ¥5,097,767,420.7 in 2023[57]. Market Position and Sales - The motorcycle industry in China sold 1,992.28 million units in 2024, with a year-on-year growth of 2.82%[29]. - The export volume of motorcycles reached 1,101.63 million units in 2024, a year-on-year increase of 26.72%[31]. - The export value of motorcycles was $6.981 billion in 2024, representing a 23.8% increase compared to the previous year[31]. - The sales of two-wheeled fuel motorcycles in China were 1,645.62 million units, with a year-on-year growth of 12.99%[29]. - The company ranks 15th in export volume with a share of 2.2%, but ranks 5th in export value at 5.0%, benefiting from optimized product structure, especially in large-displacement products[34]. - The company has maintained the number one market share in China for large-displacement motorcycles (over 250cc) for thirteen consecutive years[42]. - The company sold 45.22 million motorcycles in 2024, a 15.45% increase compared to 39.17 million in 2023[60]. Research and Development - The company emphasizes technological innovation and has a comprehensive R&D system, with significant investments in R&D personnel and facilities, exceeding industry averages[42]. - The company invested 366.45 million yuan in R&D in 2024, accounting for 6.08% of revenue, launching over 30 fuel vehicles and multiple electric vehicles[53]. - The company has completed several key R&D projects aimed at enhancing product safety and performance, including a motorcycle lighting system based on body posture recognition[69]. - The company is developing a new UTV1000 beach vehicle to improve ride comfort and reduce vibrations[69]. - The company is working on a new engine model, the 1P70MM-3, aimed at high performance and low emissions to meet market demands[71]. - The company is focusing on lightweight materials and structural optimization to enhance acceleration performance and fuel economy in new motorcycle models[71]. Corporate Governance - The company held three shareholder meetings, ten board meetings, and eight supervisory board meetings during the reporting period, ensuring compliance with regulations and equal treatment of all shareholders, particularly minority shareholders[140]. - The company maintains independence from its controlling shareholder in terms of business, personnel, assets, organization, and finance, ensuring no interference in operational decisions[143]. - The company has established a complete and independent financial management system, including independent bank accounts and tax obligations[144]. - The company reported a total of 5,602 staff, with 4,070 in production, 406 in sales, and 723 in technical roles[169][170]. - The company has a unified compensation incentive system aimed at attracting and retaining talent, based on position value and performance[171]. Environmental and Social Responsibility - The company strictly adheres to multiple environmental protection laws and regulations during its operations, including the Environmental Protection Law of the People's Republic of China[193]. - The company has received no administrative penalties related to environmental issues during the reporting period[197]. - The company is actively involved in poverty alleviation and rural revitalization efforts, as outlined in its 2024 ESG report[199]. - The company has implemented measures to reduce carbon emissions, as detailed in its 2024 ESG report[197]. Cash Flow and Financial Management - Operating cash inflow increased by 18.45% year-on-year to ¥7,261,035,177.08, primarily due to higher cash received from sales and tax refunds[76]. - Net cash flow from operating activities surged by 91.74% year-on-year to ¥1,133,247,718.99, reflecting the changes in cash inflows and outflows[77]. - The company's rental liabilities increased by 822.78% compared to the beginning of the year, primarily due to the increase in leased buildings and specialized equipment[83]. - The company's total investments during the reporting period amounted to 98,368,564.55 yuan, representing a 930.00% increase compared to the same period last year[88]. Strategic Initiatives - The company is focusing on expanding its presence in emerging markets, particularly for high-displacement models in Europe and North America[121]. - The company aims to enhance its core competitiveness and maintain technological leadership while expanding its market share in both domestic and international markets by 2025[121]. - The company is exploring potential mergers and acquisitions to facilitate market expansion[148]. - The company plans to submit its 2024 profit distribution proposal for shareholder approval, ensuring protection of minority investors' rights[176].

Financial Performance - Q1 2025 revenue was CNY 1,334,233,217.16, a decrease of 0.81% compared to CNY 1,345,095,802.23 in the same period last year[5] - Net profit attributable to shareholders was CNY 86,698,775.66, down 37.96% from CNY 139,754,838.07 year-on-year[5] - Basic earnings per share decreased by 38.42% to CNY 0.1670 from CNY 0.2712 in the same period last year[5] - Net profit for the current period was ¥86,528,515.03, down 38.2% from ¥140,017,606.05 in the previous period[20] - Operating profit decreased to ¥87,599,381.06, a decline of 39.2% compared to ¥144,294,544.83 in the previous period[20] - The total comprehensive income attributable to the parent company was 85,002,859.97 yuan, compared to 139,848,481.57 yuan in the previous period, reflecting a decrease[21] Cash Flow - The net cash flow from operating activities was negative CNY 150,124,863.04, a decline of 231.21% compared to CNY 114,414,803.89 in the previous year[5] - Operating cash inflow increased by 9.13% to ¥1,608,766,340.55 compared to the same period last year[11] - Operating cash outflow rose by 29.35% to ¥1,758,891,203.59, primarily due to increased payments for goods and services[11] - Net cash flow from operating activities turned negative at -¥150,124,863.04, a decline of 231.21% year-on-year[11] - The net increase in cash and cash equivalents was -¥280,050,303.89, a decline of 136.58% compared to the previous year[11] - Cash received from the sale of goods and services amounted to 1,320,024,504.54 yuan, an increase from 1,240,812,916.57 yuan year-over-year[23] Assets and Liabilities - Total assets increased by 1.37% to CNY 10,426,176,331.98 from CNY 10,285,044,093.77 at the end of the previous year[5] - Total liabilities rose to ¥5,538,403,956.82, an increase of 0.95% from ¥5,486,321,852.62 in the previous period[18] - Total equity attributable to shareholders increased to ¥4,881,469,223.71 from ¥4,792,029,479.64, a growth of 1.86%[18] - Cash and cash equivalents decreased to ¥5,393,945,596.89 from ¥5,677,551,910.71, a decline of 5.0%[16] - Accounts receivable increased to ¥518,391,790.74, up 25.5% from ¥413,022,555.65 in the previous period[16] Research and Development - R&D expenses rose by 29.88% to CNY 90,940,464.76, driven by investments in new product development[9] - Research and development expenses rose to ¥90,940,464.76, an increase of 29.6% from ¥70,016,719.21 in the previous period[20] Non-Operating Income and Expenses - Non-operating income increased by 189.42% to CNY 4,337,686.14, mainly due to increased penalties from suppliers[10] - The company reported a decrease in minority shareholder losses, which amounted to CNY -170,260.63, compared to a profit of CNY 262,767.98 in the previous year[10] - The company experienced a foreign exchange loss of -1,608,465.30 yuan, compared to a gain of 373,281.81 yuan in the previous period[24] Investment Activities - Investment cash inflow dropped by 100% to ¥3,982.30, significantly lower than last year's ¥190,982,211.51[11] - Investment cash outflow increased by 69.47% to ¥125,498,959.04, attributed to higher infrastructure project investments[11] - Net cash flow from investing activities decreased by 207.33% to -¥125,494,976.74 due to reduced cash inflow[11] - The net cash flow from investing activities was -125,494,976.74 yuan, compared to 116,928,106.76 yuan in the previous period[24] Financing Activities - Financing cash inflow decreased by 8.72% to ¥950,559,781.04, mainly due to reduced project loans[11] - Financing cash outflow surged by 87.82% to ¥953,381,779.85, primarily from increased payments for discounted bank acceptance bills[11] - Net cash flow from financing activities fell by 100.53% to -¥2,821,998.81, reflecting the impact of cash inflows and outflows[11] - The total cash inflow from financing activities was 950,559,781.04 yuan, down from 1,041,376,679.56 yuan in the previous period[24]

01 事件概述 据中国摩托车商会数据，2025年3月250cc（不含）以上摩托车销量8.8万辆，同比+68.4%，环比+52.7%。1-3月累计销量20.5万辆，同比+77.4%。 02 分析判断 行业： 旺季临近 中大排月度销量创历史新高 1）125cc（不含）以上： 3月销量71.1万辆，同比+25.6%，环比+54.0%，主要增量来自于125-150cc及500-800cc，春风动力、隆鑫通用等头部企业均贡献明显增量； 2）250cc（不含）以上： 3月销量8.8万辆，同比+68.4%，环比+52.7%，创历史新高。1-3月累计销量20.5万辆，同比+77.4%。其中： 出口：250cc+摩托车3月出口4.2万辆 ，同比+101.2%，环比+13.5%，同比增长原因为头部企业在500-800cc排量段出口持续增长， 1-3月累计出口11.9万辆，同比 +113.7%。 内销：250cc+摩托车3月内销4.6万辆 ，同比+46.2%，环比+124.9%。 1-3月累计内销8.6万辆，同比+43.5%。 结构：500cc+排量车型增长强劲 自主高端化提速 1） 250cc<排量≤400cc ：3月销售4.1 ...

本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗 漏。 特别提示： 1、浙江钱江摩托股份有限公司（以下简称为"公司"）本次回购注销股权激励计划对象3名已获授但尚未 解锁的限制性股票数量合计为60,000股，占本次回购注销前公司总股本526,671,000股的0.01%，并已经 过董事会及股东大会审议通过。 登录新浪财经APP 搜索【信披】查看更多考评等级 2、经中国证券登记结算有限公司深圳分公司确认，公司已完成上述60,000 股限制性股票回购注销事 宜。本次限制性股票回购注销符合法律、行政法规、部门规章、规范性文件、公司章程、股权激励计划 等的相关规定。 3、本次回购注销完成后，公司总股本由526,671,000股变更为526,611,000股。 一、公司2022年限制性股票激励计划实施情况 1、2022年5月20日，公司第八届董事会第六次会议及第八届监事会第五次会议审议通过了《关于〈浙江 钱江摩托股份有限公司2022年限制性股票激励计划（草案）〉及其摘要的议案》《关于〈浙江钱江摩托 股份有限公司2022年限制性股票激励计划实施考核管理办法〉的议案》《关于提请股东大 ...

证券代码：000913 证券简称：钱江摩托 公告编号：2025-006 3、本次回购注销完成后，公司总股本由 526,671,000 股变更为 526,611,000 股。 一、公司 2022 年限制性股票激励计划实施情况 浙江钱江摩托股份有限公司 关于部分限制性股票注销完成的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有 虚假记载、误导性陈述或重大遗漏。 特别提示： 1、浙江钱江摩托股份有限公司（以下简称为"公司"）本次回购注销股权激励 计划对象 3 名已获授但尚未解锁的限制性股票数量合计为 60,000 股，占本次回购 注销前公司总股本 526,671,000 股的 0.01%，并已经过董事会及股东大会审议通过。 2、经中国证券登记结算有限公司深圳分公司确认，公司已完成上述 60,000 股 限制性股票回购注销事宜。本次限制性股票回购注销符合法律、行政法规、部门 规章、规范性文件、公司章程、股权激励计划等的相关规定。 1、2022 年 5 月 20 日，公司第八届董事会第六次会议及第八届监事会第五次会 议审议通过了《关于<浙江钱江摩托股份有限公司 2022 年限制性股票激励计划（草 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗 漏。 浙江钱江摩托股份有限公司（以下简称"公司"）于2022年7月29日召开第八届董事会第八次会议审议通 过了《关于土地收购的议案》，温岭工业园区管理委员会（以下简称"管委会"）对公司坐落在温岭市城 东街道横山头村锦屏大道（压铸厂）、城东街道横山头村锦屏大道（锦屏厂区）、温岭经济开发区泽坎 公路（股份总部）国有土地使用权及地面建筑物、公司全资子公司浙江益中智能电气有限公司（以下简 称"益中电气"）位于城西街道莞田村万昌西路（九分厂）、位于城东街道横湖桥村横湖中泽坎路公路东 侧（原六分厂）国有土地使用权及地面建筑物、公司全资子公司浙江益荣智能机械有限公司（以下简 称"益荣智能"）位于城东街道横山头村曙光路6号（益荣厂）国有土地使用权及地面建筑物进行收购， 收购款及补偿款共计125,128.90万元，详细内容见公司于2022年7月30日披露的《关于土地收购的公告》 （公告编号：2022-046），上述事项已经公司2022年第二次临时股东大会审议通过。 2023年9月26日， ...

2023年9月26日，公司及益中电气、益荣智能与管委会签署了《温岭市国有 土地使用权收购补充合同》（以下简称"《补充合同》"），公司益荣智能在原 合同约定的腾空期限（2025年11月15日）提前腾空的，每提前一个月管委会奖 励5.7万元/亩，奖励期限不超过12个月，奖励总额不超过2,922.732万元。详细内 容见公司于2023年9月28日披露的《关于签署<温岭市国有土地使用权收购补充 合同>的公告》（公告编号：2023-054）。 证券代码：000913 证券简称：钱江摩托 公告编号：2025-005 浙江钱江摩托股份有限公司 关于收到腾空奖励款的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 浙江钱江摩托股份有限公司（以下简称"公司"）于2022年7月29日召开第八 届董事会第八次会议审议通过了《关于土地收购的议案》，温岭工业园区管理 委员会（以下简称"管委会"）对公司坐落在温岭市城东街道横山头村锦屏大道 （压铸厂）、城东街道横山头村锦屏大道（锦屏厂区）、温岭经济开发区泽坎 公路（股份总部）国有土地使用权及地面建筑物、公司全资子公司浙江益中智 能电气 ...

Group 1: Company Performance and Sales - In 2024, the company expects a growth of approximately 37.92% to 53.01%, with an estimated sales volume of 440,000 units, including 210,000 units for domestic sales and 230,000 units for exports [2] - In January 2025, the company sold 37,800 units, a year-on-year increase of 0.3%, with 10,600 units of over 250cc models sold, reflecting an 11.3% growth [2] - Domestic sales reached 20,500 units, a 60% increase year-on-year, while exports were 17,400 units, a decline of 30.4% [3] Group 2: Market Strategy and Outlook - The company aims to expand in key overseas markets such as Europe and South America, focusing on establishing strong dealer channels and enhancing brand recognition through events and media [3] - The company plans to launch several new products in 2025, incorporating advanced technologies like AMT and smart dashboards to maintain product leadership [4] Group 3: Competitive Landscape and Challenges - Domestic brands have improved significantly in engine performance and manufacturing quality, leading to increased competitiveness against foreign brands [3] - The company faces potential price competition in the domestic high-displacement motorcycle market in 2025, which may pressure product margins [5] - The company has established over 60 overseas agents, typically employing 1-2 agents per country, to support brand promotion and technical assistance [5]

浙江钱江摩托股份有限公司（以下简称"公司"）董事会于近日收到公司高 级管理人员蔡良正先生的书面辞职报告。蔡良正先生因年龄原因申请辞去公司 总工程师职务，辞职后仍担任公司首席产品官职务。 证券代码：000913 证券简称：钱江摩托 公告编号：2025-004 浙江钱江摩托股份有限公司 关于高级管理人员辞职的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 特此公告。 浙江钱江摩托股份有限公司董事会 2025年2月22日 根据《深圳证券交易所股票上市规则》《深圳证券交易所上市公司自律监管 指引第 1 号——主板上市公司规范运作》等相关规定，蔡良正先生的辞职报告 自送达董事会之日起生效。 截至本公告日，蔡良正先生持有公司股份800,000股，占公司目前总股本的 0.15%，不存在应当履行而未履行的承诺事项。蔡良正先生辞职后，其所持股份 将按照《深圳证券交易所上市公司自律监管指引第 18 号——股东及董事、监 事、高级管理人员减持股份》等相关法律、法规的规定进行管理。 蔡良正先生辞任公司总工程师不会对公司经营管理产生重大不利影响。公 司董事会对蔡良正先生任职期间的 ...

Investment Rating - The report maintains a "Recommended" rating for the company [6] Core Views - The company is expected to achieve significant growth in 2024, with projected revenue of 6.02 billion yuan, a year-on-year increase of 18.0%, and a net profit attributable to shareholders of 6.4 to 7.1 billion yuan, representing a year-on-year increase of 37.9% to 53.0% [1] - The company's product structure optimization and asset disposal are expected to enhance profits, with a forecasted net profit for Q4 2024 of 1.7 to 2.4 billion yuan, a year-on-year increase of 285.2% [2] - The company is focusing on internationalization as its top strategy for 2024, with an expected export volume of 227,000 units, a year-on-year increase of 36.0% [3] Summary by Sections Revenue and Profit Forecast - The company forecasts total revenue of 6.02 billion yuan for 2024, with a growth rate of 18.1% [5] - The net profit attributable to shareholders is projected to be 674 million yuan for 2024, reflecting a growth rate of 45.3% [5] Product Development and Market Strategy - The company has improved its product definition capabilities, launching several popular models in 2024, including the first domestic quasi-public upgraded racing model [3] - The company plans to develop 10 all-terrain vehicles (ATVs) and has already begun market testing two models [4] Financial Metrics - The report projects earnings per share (EPS) of 1.28 yuan for 2024, with a price-to-earnings (PE) ratio of 15 [5] - The company expects to achieve a net profit of 7.3 billion yuan in 2025, with a PE ratio of 14 [5]