第六届董事会第九次会议决议公告 证券代码：002434 证券简称：万里扬 公告编号：2025-040 浙江万里扬股份有限公司 二、审议通过《关于申请综合授信额度的议案》 具体内容详见刊登在巨潮资讯网（www.cninfo.com.cn）上《浙江万里扬股 份有限公司关于申请综合授信额度的公告》（2025-042）。 表决结果：9 票同意，0 票反对，0 票弃权。 特此公告。 浙江万里扬股份有限公司 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。 浙江万里扬股份有限公司（以下简称"公司"）第六届董事会第九次会议通 知于 2025 年 8 月 11 日以电子邮件、书面形式送达公司全体董事，并于 2025 年 8 月 21 日以通讯方式召开，会议应参会董事 9 名，实际参会董事 9 名。会议通 知和召开程序符合《公司法》及《公司章程》的有关规定。会议以书面表决方式 通过了以下决议： 一、审议通过《公司 2025 年半年度报告全文及摘要》 公司 2025 年半年度报告详见巨潮资讯网（www.cninfo.com.cn）。 表决结果：9 票同意，0 票反对，0 票弃权。 ...

Core Viewpoint - Wanliyang (002434.SZ) reported a revenue of 2.81 billion yuan for the first half of 2025, reflecting a year-on-year growth of 2.69% [1] - The net profit attributable to shareholders reached 277 million yuan, showing a significant year-on-year increase of 50.24% [1] - The net profit excluding non-recurring gains and losses was 175 million yuan, with a year-on-year growth of 2.19% [1] - Basic earnings per share stood at 0.21 yuan [1] Financial Performance - Revenue: 28.12 billion yuan, up 2.69% year-on-year [1] - Net Profit: 2.77 billion yuan, up 50.24% year-on-year [1] - Net Profit (excluding non-recurring items): 1.75 billion yuan, up 2.19% year-on-year [1] - Basic Earnings per Share: 0.21 yuan [1]

[Important Notices, Table of Contents, and Definitions](index=2&type=section&id=%E7%AC%AC%E4%B8%80%E8%8A%82%20%E9%87%8D%E8%A6%81%E6%8F%90%E7%A4%BA%E3%80%81%E7%9B%AE%E5%BD%95%E5%92%8C%E9%87%8A%E4%B9%89) The company's board confirms the report's accuracy and states no dividends will be issued for H1 2025 - The Board of Directors, Supervisory Committee, and senior management guarantee the truthfulness, accuracy, and completeness of this semi-annual report and assume corresponding legal responsibilities[3](index=3&type=chunk) - The company does not plan to distribute cash dividends, issue bonus shares, or capitalize reserves for the first half of 2025[4](index=4&type=chunk) [Company Profile and Key Financial Indicators](index=6&type=section&id=%E7%AC%AC%E4%BA%8C%E8%8A%82%20%E5%85%AC%E5%8F%B8%E7%AE%80%E4%BB%8B%E5%92%8C%E4%B8%BB%E8%A6%81%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87) The company reports key financial metrics, highlighting significant profit growth driven by non-recurring items [Key Accounting Data and Financial Indicators](index=7&type=section&id=%E5%9B%9B%E3%80%81%E4%B8%BB%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%95%B0%E6%8D%AE%E5%92%8C%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87) Revenue grew 2.69% to RMB 2.81 billion, while net profit attributable to shareholders surged 50.24% due to investment gains Key Financial Indicators for H1 2025 | Indicator | Current Period | Prior Year Period | YoY Change | | :--- | :--- | :--- | :--- | | **Operating Revenue (RMB)** | 2,811,672,168.18 | 2,737,976,941.45 | 2.69% | | **Net Profit Attributable to Shareholders (RMB)** | 276,548,727.20 | 184,068,476.50 | 50.24% | | **Net Profit Attributable to Shareholders (Non-recurring items excluded) (RMB)** | 175,331,560.89 | 171,569,745.71 | 2.19% | | **Net Cash Flow from Operating Activities (RMB)** | 289,834,261.78 | 90,475,450.59 | 220.35% | | **Basic Earnings Per Share (RMB/Share)** | 0.21 | 0.14 | 50.00% | | **Weighted Average Return on Equity** | 4.70% | 3.08% | 1.62% | | **Total Assets (RMB)** | 11,084,173,504.82 | 10,671,944,067.61 | 3.86% (End of period vs. End of prior year) | | **Net Assets Attributable to Shareholders (RMB)** | 5,885,197,297.01 | 5,739,908,569.81 | 2.53% (End of period vs. End of prior year) | [Non-recurring Profit and Loss Items and Amounts](index=7&type=section&id=%E5%85%AD%E3%80%81%E9%9D%9E%E7%BB%8F%E5%B8%B8%E6%80%A7%E6%8D%9F%E7%9B%8A%E9%A1%B9%E7%9B%AE%E5%8F%8A%E9%87%91%E9%A2%9D) Non-recurring gains totaled RMB 101.22 million, primarily driven by a RMB 119.04 million gain from financial asset disposals Details of Non-recurring Profit and Loss Items | Item | Amount (RMB) | | :--- | :--- | | Gains/Losses on Disposal of Non-current Assets | -6,083,884.82 | | Government Grants Recognized in Current Profit/Loss | 5,437,893.11 | | Gains/Losses from Holding and Disposing Financial Assets/Liabilities | 119,038,104.93 | | Other Non-operating Income and Expenses | 29,443.10 | | Less: Income Tax Effect | 17,259,522.95 | | Less: Minority Interest Effect (After Tax) | -55,132.94 | | **Total** | **101,217,166.31** | [Management Discussion and Analysis](index=9&type=section&id=%E7%AC%AC%E4%B8%89%E8%8A%82%20%E7%AE%A1%E7%90%86%E5%B1%82%E8%AE%A8%E8%AE%BA%E4%B8%8E%E5%88%86%E6%9E%90) This section analyzes business segments, core competencies, financial results, and key operational risks [Overview of Main Business](index=9&type=section&id=%E4%B8%80%E3%80%81%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E5%85%AC%E5%8F%B8%E4%BB%8E%E4%BA%8B%E7%9A%84%E4%B8%BB%E8%A6%81%E4%B8%9A%E5%8A%A1) The company operates in automotive parts and new energy storage, with both segments showing strong growth prospects [Automotive Parts Business](index=9&type=section&id=%EF%BC%88%E4%B8%80%EF%BC%89%E6%B1%BD%E8%BD%A6%E9%9B%B6%E9%83%A8%E4%BB%B6%E4%B8%9A%E5%8A%A1) This segment focuses on transmission systems, capitalizing on vehicle electrification and international market expansion - The company's product strategy focuses on vehicle transmission systems, new energy solutions, and non-road applications for synergistic growth[30](index=30&type=chunk) - During the reporting period, revenue from EV reducer products for pure electric vehicles **grew by 117%**, with an increasing number of customer vehicle models[32](index=32&type=chunk) - The company established Zhejiang Wanliyang Robot Technology Co, Ltd to manage the R&D and industrialization of precision transmission products for robot joints, with initial projects already launched[34](index=34&type=chunk) [New Energy Storage Business](index=12&type=section&id=%EF%BC%88%E4%BA%8C%EF%BC%89%E6%96%B0%E5%9E%8B%E5%82%A8%E8%83%BD%E4%B8%9A%E5%8A%A1) The energy storage business is rapidly expanding through power station investments and electricity market trading - As of the end of 2024, China's new energy storage installed capacity reached **78.3GW/184.2GWh**, a YoY increase of over 126%, with lithium-ion battery storage accounting for 96.7%[38](index=38&type=chunk)[39](index=39&type=chunk) - The company has a sufficient pipeline of grid-side independent energy storage projects that are operational, under construction, or planned, with several projects included in the provincial "14th Five-Year Plan"[41](index=41&type=chunk) - In H1 2025, the company's green certificate business continued to grow, with a cumulative transaction volume of **2.866 million domestic green certificates**, a YoY increase of 93%[46](index=46&type=chunk) [Core Competitiveness Analysis](index=15&type=section&id=%E4%BA%8C%E3%80%81%E6%A0%B8%E5%BF%83%E7%AB%9E%E4%BA%89%E5%8A%9B%E5%88%86%E6%9E%90) Core strengths include scale, technology, brand recognition, cost control, and emerging advantages in energy storage - The company is the first domestic transmission enterprise to cover both commercial and passenger vehicle markets, recognized as a **National Manufacturing Single-Champion Demonstration Enterprise** for its strong production capacity[48](index=48&type=chunk) - With a national-level enterprise technology center, the company independently developed China's first AMT automatic transmission for light trucks, and its CVT product was named one of the "World's Top Ten Transmissions"[49](index=49&type=chunk)[51](index=51&type=chunk) - The new energy storage business has a project reserve pipeline exceeding **3,000MW/6,000MWh** and possesses a self-developed panoramic simulation and decision-making system for the electricity market[58](index=58&type=chunk) [Main Business Analysis](index=19&type=section&id=%E4%B8%89%E3%80%81%E4%B8%BB%E8%90%A5%E4%B8%9A%E5%8A%A1%E5%88%86%E6%9E%90) Revenue slightly increased, but net profit surged 50.24% due to a RMB 119 million investment gain from selling Zheda Innovation shares Year-on-Year Changes in Key Financial Data | Item | Current Period (RMB) | Prior Year Period (RMB) | YoY Change | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | **Operating Revenue** | 2,811,672,168.18 | 2,737,976,941.45 | 2.69% | - | | **Net Profit Attributable to Parent Company** | 276,548,727.20 | 184,068,476.50 | 50.24% | Cost reduction, efficiency improvements, and a RMB 119 million investment gain from selling Zheda Innovation shares | | **Net Cash Flow from Operating Activities** | 289,834,261.78 | 90,475,450.59 | 220.35% | Decrease in cash paid for goods | | **Net Cash Flow from Investing Activities** | 269,074,676.60 | -298,353,077.48 | 190.19% | Received RMB 513 million in cash from selling Zheda Innovation shares | | **Investment Income** | 115,241,792.05 | -2,005,028.79 | 5,847.64% | Gained RMB 119 million in investment income from selling Zheda Innovation shares | Operating Revenue Composition | By Industry | Current Period Amount (RMB) | Proportion of Operating Revenue | YoY Change | | :--- | :--- | :--- | :--- | | Automotive Parts Manufacturing | 2,670,208,811.99 | 94.97% | 0.34% | | Energy Storage and Power Trading Business | 127,350,964.53 | 4.53% | 96.27% | [Analysis of Assets and Liabilities](index=21&type=section&id=%E4%BA%94%E3%80%81%E8%B5%84%E4%BA%A7%E5%8F%8A%E8%B4%9F%E5%80%BA%E7%8A%B6%E5%86%B5%E5%88%86%E6%9E%90) Total assets grew 3.86%, with a notable decrease in long-term equity investments and shifts in financing structure Significant Changes in Asset Composition | Item | End of Current Period Amount (RMB) | % of Total Assets | End of Prior Year Amount (RMB) | % of Total Assets | Change in Proportion | Explanation of Significant Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | **Long-term Equity Investment** | 76,237,139.72 | 0.69% | 476,077,026.93 | 4.46% | -3.77% | Sold 53 million shares of Zheda Innovation | | **Short-term Borrowings** | 1,090,413,597.23 | 9.84% | 1,387,525,741.57 | 13.00% | -3.16% | Repaid more bank loans due to sufficient funds | | **Long-term Borrowings** | 743,422,059.60 | 6.71% | 602,538,498.74 | 5.65% | 1.06% | Increase in bank loans with maturities over one year | | **Notes Payable** | 911,497,265.64 | 8.22% | 406,361,378.81 | 3.81% | 4.41% | Increase in newly issued bank acceptance bills | [Analysis of Major Subsidiaries and Investees](index=24&type=section&id=%E5%85%AB%E3%80%81%E4%B8%BB%E8%A6%81%E6%8E%A7%E8%82%A1%E5%8F%82%E8%82%A1%E5%85%AC%E5%8F%B8%E5%88%86%E6%9E%90) Key subsidiaries in new energy drive systems and smart manufacturing were profitable, while the energy storage unit shows strong potential Operating Performance of Major Subsidiaries (Unit: RMB 10,000) | Company Name | Main Business | Operating Revenue | Net Profit | | :--- | :--- | :--- | :--- | | Zhejiang Wanliyang New Energy Drive Co, Ltd | New energy vehicle drive assemblies | 111,794.73 | 5,523.07 | | Wuhu Wanliyang Transmission Co, Ltd | Automotive transmissions | 126,000.62 | -1,612.49 | | Zhejiang Wanliyang Intelligent Manufacturing Co, Ltd | Gear manufacturing | 55,175.75 | 4,683.98 | | Zhejiang Wanliyang New Materials Co, Ltd | Recycled resource processing | 31,003.26 | -2,377.49 | | Zhejiang Wanliyang Energy Technology Co, Ltd | New energy storage and power trading | 12,735.10 | 3,266.18 | - Three new subsidiaries were established during the period to support new business expansion, including one in robotics and two in new energy technology[85](index=85&type=chunk) [Risks and Countermeasures](index=26&type=section&id=%E5%8D%81%E3%80%81%E5%85%AC%E5%8F%B8%E9%9D%A2%E4%B8%B4%E7%9A%84%E9%A3%8E%E9%99%A9%E5%92%8C%E5%BA%94%E5%AF%B9%E6%8E%AA%E6%96%BD) The company faces risks from market competition, talent acquisition, supply chain volatility, and new business uncertainties - The company faces four major risks: market competition, talent, supply chain, and new business operations[87](index=87&type=chunk)[89](index=89&type=chunk)[91](index=91&type=chunk)[93](index=93&type=chunk) - Countermeasures include expanding overseas markets, promoting new energy vehicle products, enhancing human resource systems, establishing a global procurement platform, and leveraging the energy storage team's expertise to control operational risks[88](index=88&type=chunk)[90](index=90&type=chunk)[92](index=92&type=chunk)[94](index=94&type=chunk) [Corporate Governance, Environmental, and Social](index=29&type=section&id=%E7%AC%AC%E5%9B%9B%E8%8A%82%20%E5%85%AC%E5%8F%B8%E6%B2%BB%E7%90%86%E3%80%81%E7%8E%AF%E5%A2%83%E5%92%8C%E7%A4%BE%E4%BC%9A) This section details the company's corporate governance structure and its commitment to social responsibility [Social Responsibility](index=29&type=section&id=%E4%BA%94%E3%80%81%E7%A4%BE%E4%BC%9A%E8%B4%A3%E4%BB%BB%E6%83%85%E5%86%B5) The company actively engages in social responsibility through customer service, employee care, environmental protection, and philanthropy - **Customer Relations**: Adheres to a "fast, professional, and attentive" service philosophy to deepen strategic cooperation and achieve mutual success with clients[102](index=102&type=chunk) - **Employee Care**: Fosters a "striver-centric" value system, provides a comprehensive career-long training system, and established the "Wanliyang Employee Mutual Aid Association" to support employees in need[104](index=104&type=chunk) - **Environmental Protection**: Strictly implements the ISO14001 environmental management system, improves energy efficiency through "5G + Industrial Internet" applications, and promotes green transformation by developing new energy vehicle systems and energy storage businesses[107](index=107&type=chunk) - **Social Philanthropy**: Established the **RMB 10 million** Wanliyang Education Fund for improving educational facilities and aiding students, and actively participates in rural revitalization and poverty alleviation initiatives[108](index=108&type=chunk) [Significant Matters](index=33&type=section&id=%E7%AC%AC%E4%BA%94%E8%8A%82%20%E9%87%8D%E8%A6%81%E4%BA%8B%E9%A1%B9) This section discloses significant related-party transactions, major contracts, and other material events [Significant Related-Party Transactions](index=34&type=section&id=%E5%8D%81%E4%B8%80%E3%80%81%E9%87%8D%E5%A4%A7%E5%85%B3%E8%81%94%E4%BA%A4%E6%98%93) Significant transactions occurred with related party Chery Automobile, primarily involving sales of auto parts totaling RMB 1.12 billion Related-Party Transactions in the Ordinary Course of Business | Related Party | Transaction Type | Transaction Content | Transaction Amount (RMB 10,000) | % of Similar Transactions | | :--- | :--- | :--- | :--- | :--- | | Chery Automobile Co, Ltd and its affiliates | Sales of goods | Automotive transmissions, related parts, and services | 111,771.04 | 39.75% | | Chery Automobile Co, Ltd and its affiliates | Purchase of goods | Materials, energy, service fees, development fees, etc | 4,761.41 | 2.36% | | Wanhuitong Energy Technology Co, Ltd and its affiliates | Rental | Rooftop rental | 332.30 | 0.12% | | Wanhuitong Energy Technology Co, Ltd and its affiliates | Purchase of goods | Electricity | 1,744.36 | 0.87% | [Significant Contracts and Their Performance](index=36&type=section&id=%E5%8D%81%E4%BA%8C%E3%80%81%E9%87%8D%E5%A4%A7%E5%90%88%E5%90%8C%E5%8F%8A%E5%85%B6%E5%B1%A5%E8%A1%8C%E6%83%85%E5%86%B5) The company's total outstanding guarantees amounted to RMB 2.49 billion, representing 42.30% of its net assets Significant Guarantees (Unit: RMB 10,000) | Guarantee Type | Total Approved Limit at Period End | Total Actual Balance at Period End | | :--- | :--- | :--- | | External Guarantees (for Controlling Shareholder) | 50,000 | 45,000 | | Guarantees for Subsidiaries | 467,000 | 203,929.92 | | **Total** | **517,000** | **248,929.92** | - The total actual guarantee amount represents **42.30%** of the company's net assets[135](index=135&type=chunk) [Other Significant Matters](index=40&type=section&id=%E5%8D%81%E4%B8%89%E3%80%81%E5%85%B6%E4%BB%96%E9%87%8D%E5%A4%A7%E4%BA%8B%E9%A1%B9%E7%9A%84%E8%AF%B4%E6%98%8E) The controlling shareholder increased its stake to 30.21%, and the company significantly reduced its holdings in Zheda Innovation - In May 2025, the controlling shareholder Wanliyang Group increased its stake by **12,512,400 shares** (0.95% of total share capital), raising its holding to **30.21%**[138](index=138&type=chunk) - From February to June 2025, the company cumulatively sold **53 million shares** of Zheda Innovation Technology Co, Ltd, reducing its holding to 2 million shares (0.19% of its total share capital) at period end[139](index=139&type=chunk) [Share Capital Changes and Shareholder Information](index=42&type=section&id=%E7%AC%AC%E5%85%AD%E8%8A%82%20%E8%82%A1%E4%BB%BD%E5%8F%98%E5%8A%A8%E5%8F%8A%E8%82%A1%E4%B8%9C%E6%83%85%E5%86%B5) This section outlines changes in share capital and provides details on the company's major shareholders [Number of Shareholders and Shareholdings](index=44&type=section&id=%E4%B8%89%E3%80%81%E5%85%AC%E5%8F%B8%E8%82%A1%E4%B8%9C%E6%95%B0%E9%87%8F%E5%8F%8A%E6%8C%81%E8%82%A1%E6%83%85%E5%86%B5) As of the period end, the company had 39,313 shareholders, with the controlling shareholder holding a 30.21% stake - The total number of common shareholders was **39,313** at the end of the reporting period[148](index=148&type=chunk) Top Ten Shareholders | Shareholder Name | Shareholder Type | Shareholding Ratio | Number of Shares | Pledged/Frozen Status | | :--- | :--- | :--- | :--- | :--- | | Wanliyang Group Co, Ltd | Domestic Non-state-owned Legal Entity | 30.21% | 396,588,144 | Pledged 212,250,000 | | Shaanxi International Trust - Changsheng No. 1 Single Fund Trust | Other | 6.02% | 79,000,000 | - | | Guoyuan Trust - Anrui No. 1 Single Fund Trust | Other | 6.02% | 79,000,000 | - | | China Resources Trust - Huaying No. 16 Single Fund Trust | Other | 5.62% | 73,760,000 | - | | Shaanxi International Trust - Changfeng No. 52 Single Fund Trust | Other | 5.27% | 69,178,800 | - | | Jinhua Zhongcheng Investment Co, Ltd | Domestic Non-state-owned Legal Entity | 4.02% | 52,785,000 | Pledged 52,785,000 | [Bond-related Matters](index=47&type=section&id=%E7%AC%AC%E4%B8%83%E8%8A%82%20%E5%80%BA%E5%88%B8%E7%9B%B8%E5%85%B3%E6%83%85%E5%86%B5) This section confirms the absence of any bond-related activities during the reporting period [Bond-related Matters](index=47&type=section&id=%E7%AC%AC%E4%B8%83%E8%8A%82%20%E5%80%BA%E5%88%B8%E7%9B%B8%E5%85%B3%E6%83%85%E5%86%B5) The company had no bond-related matters during the reporting period - The company had no bond-related matters during the reporting period[154](index=154&type=chunk) [Financial Report](index=48&type=section&id=%E7%AC%AC%E5%85%AB%E8%8A%82%20%E8%B4%A2%E5%8A%A1%E6%8A%A5%E5%91%8A) This section presents the unaudited consolidated financial statements for the first half of 2025 [Financial Statements](index=48&type=section&id=%E4%BA%8C%E3%80%81%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8) This chapter provides the unaudited H1 2025 consolidated and parent company financial statements - The company's semi-annual financial report is unaudited[156](index=156&type=chunk) Consolidated Balance Sheet Summary (As of June 30, 2025) | Item | Ending Balance (RMB) | Beginning Balance (RMB) | | :--- | :--- | :--- | | **Total Assets** | 11,084,173,504.82 | 10,671,944,067.61 | | **Total Liabilities** | 5,095,743,415.07 | 4,826,611,351.97 | | **Total Equity Attributable to Parent Company** | 5,885,197,297.01 | 5,739,908,569.81 | | **Total Equity** | 5,988,430,089.75 | 5,845,332,715.64 | Consolidated Income Statement Summary (For H1 2025) | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | | :--- | :--- | :--- | | **I. Total Operating Revenue** | 2,811,672,168.18 | 2,737,976,941.45 | | **III. Operating Profit** | 323,846,705.34 | 215,557,995.61 | | **V. Net Profit** | 290,123,660.38 | 189,538,562.02 | | **Net Profit Attributable to Parent Company Shareholders** | 276,548,727.20 | 184,068,476.50 | [Other Submitted Data](index=182&type=section&id=%E7%AC%AC%E4%B9%9D%E8%8A%82%20%E5%85%B6%E4%BB%96%E6%8A%A5%E9%80%81%E6%95%B0%E6%8D%AE) This section documents the company's investor relations activities during the reporting period [Investor Relations Activities](index=182&type=section&id=%E4%BA%8C%E3%80%81%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E6%8E%A5%E5%BE%85%E8%B0%83%E7%A0%94%E3%80%81%E6%B2%9F%E9%80%9A%E3%80%81%E9%87%87%E8%AE%BF%E7%AD%89%E6%B4%BB%E5%8A%A8%E7%99%BB%E8%AE%B0%E8%A1%A8) The company conducted five investor relations events during the period, engaging with institutional investors on business performance - The company held **five** investor relations events during the reporting period, engaging with institutional investors to discuss business operations and future development plans[710](index=710&type=chunk)

浙江万里扬股份有限公司 2025 年半年度财务报告 浙江万里扬股份有限公司 Zhejiang Wanliyang Co., Ltd. 2025 年半年度财务报告 2025 年 08 月 1 浙江万里扬股份有限公司 2025 年半年度财务报告 一、审计报告 半年度报告是否经过审计 □是 否 公司半年度财务报告未经审计。 二、财务报表 财务附注中报表的单位为：元 1、合并资产负债表 编制单位：浙江万里扬股份有限公司 2025 年 06 月 30 日 单位：元 | 项目 | 期末余额 | 期初余额 | | --- | --- | --- | | 流动资产： | | | | 货币资金 | 970,717,809.02 | 731,791,864.25 | | 结算备付金 | | | | 拆出资金 | | | | 交易性金融资产 | | | | 衍生金融资产 | | | | 应收票据 | | | | 应收账款 | 1,624,085,942.52 | 1,618,357,551.03 | | 应收款项融资 | 96,904,910.19 | 74,326,049.08 | | 预付款项 | 51,388,335.77 ...

债 表 编制单位:浙江万里扬股份有限公司 | 编制单位:浙江历里扬股份有限公司 | | | | | | | 单位:人民币元 | | --- | --- | --- | --- | --- | --- | --- | --- | | 资 ದ | 准释 | 期末数 | 上年年末数 | 负债和所有者权益 | 注释 | 期末数 | 上年年末数 | | | 를 | | | (或股东权益) | 1 | | | | 流动资产: | | | | 流动负债: | | | | | 货市贷金 20 结算备付金 | 1 | 970, 717, 809. 02 | 731, 791, 864. 25 | 短期借款 向中央银行借款 | 25 | 1, 090, 413, 597. 23 | 1, 387, 525, 741. 57 | | 拆出资金 | 60 | | | 拆入资金 | | | | | 交易性金融资产 | 2 | | | 交易性金融负债 | | | | | 衍生金融资产 | | | | 衍生金融负债 | | | | | 应收票据 | 3 | | | 应付票据 | 26 | 911, 497, 265. 64 | 406, ...

浙江万里扬股份有限公司（以下简称"公司"）于 2024 年 8 月 22 日召开的第六届 董事会第二次会议审议通过了《关于申请综合授信额度的议案》，同意公司及控股子公 司继续向银行、非银行机构申请总额度不超过 50 亿元人民币的综合授信额度，并根据 需要办理相应的公司及控股子公司土地、厂房等资产抵押。最终以银行、非银行机构实 际审批的授信额度为准，内容包括人民币贷款、银行承兑汇票、信用证、保函等信用品 种，授信期限自本次董事会审议通过之日起至下一年度相应的董事会召开之日止。 证券代码：002434 证券简称：万里扬 公告编号：2025-042 浙江万里扬股份有限公司 关于申请综合授信额度的公告 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。 为保证公司及控股子公司业务发展需要，经公司于 2025 年 8 月 21 日召开的第六届 董事会第九次会议审议通过，同意公司及控股子公司继续向银行、非银行机构申请总额 度不超过 50 亿元人民币的综合授信额度，并根据需要办理相应的公司及控股子公司土 地、厂房等资产抵押。最终以银行、非银行机构实际审批的授信额度为准，内容包括 ...

法定代表人：黄河清 主管会计工作的负责人：张雷刚 会计机构负责人：施宇琼 [注]2021年2月，本公司的联营企业宁波万众汽车零部件有限公司收购宁波荣兴汽车零部件有限公司100%股权，2021年8月，宁波万众汽车零部件有限公司将宁波荣兴汽车零部件有限公司吸收合并。因此，本公司对宁波荣兴汽车零部件有限公司在2021年之前的应收款转为对宁波万众汽车 零部件有限公司的应收款。截至2025年6月30日，该部分款项已全部收回。 浙江万里扬股份有限公司 2025年半年度非经营性资金占用及其他关联资金往来情况汇总表 | 编制单位：浙江万里扬股份有限公司 | | | | | | | | | | 单位：人民币万元 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | 占用方与上市公司的关 | 上市公司核算的 | 2025年期初 | 2025年1-6月占用累计 | 2025年1-6月占用资金 | 2025年1-6月偿还累计 | 2025年6月30日 | | 占用性质 | | 非经营性资金占用 | 资金占用方名称 | 联关系 | 会计科 ...

Core Insights - The company reported a revenue of 2.812 billion in the first half of 2025, representing a year-on-year growth of 2.69% [1] - The net profit for the same period was 277 million, showing a significant year-on-year increase of 50.24% [1] Financial Performance - Revenue for the first half of 2025 reached 2.812 billion, up from the previous year by 2.69% [1] - Net profit amounted to 277 million, reflecting a robust growth of 50.24% compared to the same period last year [1]

Investment Rating - The report maintains a positive outlook on the electric heavy truck industry, indicating significant growth potential driven by policy support and economic advantages [2][4]. Core Insights - The domestic electric heavy truck market is experiencing rapid growth, with sales reaching 79,200 units in the first half of 2025, representing a penetration rate of 22% [3][15]. - The report highlights the increasing penetration of electric heavy trucks in both domestic and European markets, with projections indicating that by 2028, China's electric heavy truck sales could reach 500,000 units, driving a demand for 250 GWh of batteries [3][4]. - The electric heavy truck industry chain is becoming more integrated, with a concentrated market structure that enhances profit elasticity across various segments [5][8]. Summary by Sections Domestic Electric Heavy Truck Market - The penetration rate of electric heavy trucks has rapidly increased due to government policies and economic advantages, with significant sales growth observed in recent years [14][15]. - The report notes that the electric heavy truck market is primarily focused on regional logistics applications, with specific use cases in construction, mining, and municipal services [18][20]. European Electric Heavy Truck Market - The European market for electric light and medium trucks is advancing quickly, with electric heavy trucks identified as a blue ocean opportunity [3][4]. - By 2026, European electric heavy truck sales are expected to reach 17,000 units, with a penetration rate projected to rise to 5% [3][4]. Industry Chain and Profitability - The electric heavy truck industry chain is increasingly collaborative, with a focus on specialized products across various segments, including vehicle, battery, and motor development [5][8]. - The report emphasizes the importance of focusing on key segments within the electric heavy truck industry chain, including manufacturers, battery suppliers, and component producers [4][5]. Investment Recommendations - The report suggests monitoring key players in the electric heavy truck sector, including Foton Motor, China National Heavy Duty Truck Group, and FAW Jiefang for vehicle production [4][5]. - Battery manufacturers such as CATL and Guoxuan High-Tech are highlighted as potential investment opportunities due to the expected surge in demand for electric heavy truck batteries [4][5].

Group 1 - The core viewpoint of the news is that Wanliyang (002434) has shown a positive performance in its latest financial results, with significant year-on-year growth in revenue and net profit [1] - As of August 19, 2025, Wanliyang's stock closed at 8.67 yuan, reflecting a 1.64% increase, with a trading volume of 430,400 hands and a transaction amount of 369 million yuan [1] - The company's latest quarterly report indicates total operating revenue of 1.324 billion yuan, a year-on-year increase of 8.74%, and a net profit attributable to shareholders of 108 million yuan, up 19.15% year-on-year [1] Group 2 - Wanliyang has a current liquidity ratio of 1.140 and a quick ratio of 0.855, with a debt-to-asset ratio of 45.64% [1] - The company has made investments in 29 enterprises and participated in 48 bidding projects, showcasing its active engagement in the market [2] - Wanliyang holds 72 trademark registrations and 614 patents, indicating a strong focus on intellectual property [2]