Core Viewpoint - Wanliyang's stock price increased by 2.48% on December 19, with a trading volume of 175 million yuan, indicating positive market sentiment despite a net financing outflow [1] Group 1: Financial Performance - For the period from January to September 2025, Wanliyang reported operating revenue of 4.201 billion yuan, a year-on-year decrease of 2.14% [2] - The company's net profit attributable to shareholders reached 341 million yuan, reflecting a year-on-year increase of 32.58% [2] - Cumulative cash dividends since the A-share listing amount to 2.079 billion yuan, with 525 million yuan distributed over the past three years [2] Group 2: Shareholder and Market Activity - As of November 28, the number of shareholders for Wanliyang was 39,300, a decrease of 9.18% from the previous period [2] - The average number of circulating shares per shareholder increased by 10.11% to 33,345 shares [2] - On December 19, the financing balance for Wanliyang was 474 million yuan, accounting for 3.98% of the market capitalization, which is above the 80th percentile of the past year [1] Group 3: Business Overview - Wanliyang, established on October 22, 2003, and listed on June 18, 2010, specializes in the research, production, and sales of automotive gearboxes and other automotive components [1] - The main revenue composition includes automotive gearboxes and parts (89.64%), other businesses (5.33%), energy storage and power trading (4.53%), and financial leasing (0.50%) [1]

证券代码：002434 证券简称：万里扬 公告编号：2025-063 浙江万里扬股份有限公司 关于为下属子公司提供担保的进展公告 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。 一、担保概述 浙江万里扬新能源驱动有限公司最近一年经审计的主要财务数据如下： | 项 目 | 2024年12月31日 | | --- | --- | | 资产总额 | 409,437.22 | | 负债总额 | 320,770.56 | | 净资产 | 88,666.66 | | | 2024年度 | | 营业收入 | 244,902.24 | | 利润总额 | 13,213.91 | | 净利润 | 11,713.55 | 单位：万元 浙江万里扬股份有限公司(以下简称"公司")于2025年5月13日召开的2024年 度股东大会审议通过了《关于为下属子公司提供担保的议案》，为保证下属子公司 的经营发展需要，公司同意为下属子公司向银行、非银行机构申请综合授信额度 提供担保，担保额度不超过人民币38亿元，公司可以在担保总额度内根据各子公 司实际需要互相之间调整担保额度。具体内容详见巨潮资讯 ...

证券代码：002434 证券简称：万里扬 公告编号：2025-062 浙江万里扬股份有限公司 关于为下属子公司提供担保的进展公告 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。 一、担保概述 浙江万里扬股份有限公司(以下简称"公司")于2025年5月13日召开的2024年 度股东大会审议通过了《关于为下属子公司提供担保的议案》，为保证下属子公司 的经营发展需要，公司同意为下属子公司向银行、非银行机构申请综合授信额度 提供担保，担保额度不超过人民币38亿元，公司可以在担保总额度内根据各子公 司实际需要互相之间调整担保额度。具体内容详见巨潮资讯网上的相关公告。 二、担保进展情况 根据公司下属子公司浙江万里扬新能源驱动有限公司的经营需要，公司和北 京银行股份有限公司杭州分行于2025年12月15日签署了《最高额保证合同》，为浙 江万里扬新能源驱动有限公司在北京银行股份有限公司杭州分行的最高本金额度 为人民币15,000万元的债务提供连带责任保证担保，有效期自2025年12月15日至 2026年12月14日。 公司类型：有限责任公司 经营范围：新能源汽车驱动总成、电机 ...

Core Viewpoint - Zhejiang Wanliyang Co., Ltd. has decided to waive its preferential subscription rights for capital increase in its associate company, Zhejiang Wanliyang Energy Technology Co., Ltd., which will allow Wanliyang Group to become the largest shareholder after the capital increase [1][3][12]. Summary by Sections 1. Overview of Waiving Subscription Rights - The company has approved the waiver of its preferential subscription rights for a capital increase in its associate company, Wanliyang Energy, which focuses on energy storage station investment and operation [1][3]. - Wanliyang Energy plans to raise funds through capital increase to support its business development and improve its financial structure, with an assessed value of RMB 739.96 million as of June 30, 2025 [1][10]. 2. Details of the Capital Increase - Wanliyang Group will invest RMB 133 million to subscribe for an additional registered capital of RMB 38 million in Wanliyang Energy, increasing its stake from 34.95% to 44.65% post-capital increase [2][3]. - The registered capital of Wanliyang Energy will rise from RMB 216.78 million to RMB 254.78 million after the capital increase [3]. 3. Impact on Shareholding Structure - Following the capital increase, the company's ownership in Wanliyang Energy will decrease from 47.05% to 40.03%, but it will remain an associate company [3][12]. - Wanliyang Group's increased stake is expected to enhance Wanliyang Energy's development through resource integration and brand support [12][13]. 4. Financial Implications - The net asset value of Wanliyang Energy was reported at RMB 206.28 million, with a post-investment valuation of RMB 891.73 million after the capital increase [10]. - The company believes that waiving the subscription rights aligns with its long-term strategic focus on its core business, which is the development of automotive transmission systems [13]. 5. Independent Board Review - The independent board meeting approved the waiver of subscription rights, confirming that the decision aligns with the company's operational needs and long-term strategy [14][15]. - The independent directors noted that the transaction complies with relevant laws and regulations and does not adversely affect the company's financial status [14].

Core Viewpoint - The article highlights the strategic partnership between Wanliyang and Shaanxi Automobile Group, showcasing Wanliyang's three key products in the medium and heavy truck market, emphasizing their technological advancements and market positioning [1][9][11]. Product Overview - Wanliyang showcased three flagship products: 12AG280, 10AG120, and 4EG280, which are positioned to meet diverse market needs in the medium and heavy truck sectors [1][4]. - The 12AG280 is a heavy-duty AMT with a transmission efficiency of 99.8% and a fuel-saving rate exceeding 3%, targeting the mainstream heavy truck market [4]. - The 10AG120 is the first integrated 10-speed AMT for medium trucks, achieving a B10 lifespan of over 2 million kilometers and a fuel-saving rate of 6% [4]. - The 4EG280 is an electric drive system for new energy heavy trucks, featuring a peak torque of 22,000 N-m and a motor efficiency of 97% [4]. Competitive Advantages - Wanliyang's products leverage international advanced technologies and components from top suppliers, ensuring high performance and reliability [4][5]. - The company offers competitive pricing, providing products at approximately 70% of the cost of imported brands while maintaining comparable performance [14][17]. - Wanliyang's rapid response capability allows for quick product development, with new products being launched in as little as 3-6 months [17]. Market Strategy - The partnership with Shaanxi Automobile signifies a deeper collaboration, enhancing Wanliyang's position as a key supplier in the heavy truck market [11][12]. - Wanliyang aims to cover all energy types and tonnage categories, transitioning from a component supplier to an industry innovator [12][18]. - The company is focused on breaking the monopoly of foreign brands in the AMT market, promoting the adoption of automatic transmissions in medium and heavy trucks [12][18]. Industry Impact - Wanliyang's advancements are expected to significantly influence the domestic heavy truck market, shifting the perception of local brands from being secondary players to key competitors [18].

Core Viewpoint - Wanliyang Energy Company plans to raise funds through equity financing to support its business development and new energy storage projects, with a valuation of approximately RMB 739.96 million as of June 30, 2025 [1] Group 1: Company Overview - Wanliyang Energy Company focuses on energy storage station investment and operation, electricity market spot trading, and innovative technology services [1] - The company is a subsidiary of Wanliyang Group, which is increasing its stake in Wanliyang Energy Company through a capital increase [1] Group 2: Financial Details - Wanliyang Group will invest RMB 133 million to subscribe for an additional registered capital of RMB 38 million, with RMB 9.5 million allocated to capital reserves [1] - After the capital increase, Wanliyang Group's ownership in Wanliyang Energy Company will rise from 34.95% to 44.65% [1] - The registered capital of Wanliyang Energy Company will increase from RMB 216.78 million to RMB 254.78 million following the capital increase [1] Group 3: Shareholding Changes - The existing shareholders of Wanliyang Energy Company have waived their preemptive rights to participate in this capital increase [1] - The company's shareholding in Wanliyang Energy Company will be diluted from 47.05% to 40.03% post-capital increase, maintaining its status as an associate company [1]

证券代码：002434 证券简称：万里扬 公告编号：2025-061 根据坤元资产评估有限公司出具的《资产评估报告》，截至 2025 年 6 月 30 日，万里扬能源公司股东全部权益的评估价值为人民币 73,996.14 万元。 浙江万里扬股份有限公司 关于放弃参股公司增资的优先认缴出资权暨关联交易的公告 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。 浙江万里扬股份有限公司（以下简称"公司"）于 2025 年 12 月 12 日召开的 第六届董事会第十二次会议审议通过了《关于放弃参股公司增资的优先认缴出资 权暨关联交易的议案》，现将相关事项公告如下： 一、放弃参股公司增资的优先认缴出资权事项概述 1、公司参股公司浙江万里扬能源科技有限公司（以下简称"万里扬能源公 司"）主要从事储能电站投资和运营、电力市场现货交易、新质生产创新科技服 务等业务，根据万里扬能源公司经营发展需要，为后续各项业务发展和储能电站 新项目建设提供资金支持，并有效改善资产负债结构，万里扬能源公司计划以增 资扩股方式进行股权融资。 公司控股股东万里扬集团有限公司（以下简称"万里扬集团"）同 ...

浙江万里扬股份有限公司 浙江万里扬股份有限公司 2025 年 12 月 1 日 第六届董事会独立董事专门会议第四次会议决议 浙江万里扬股份有限公司（以下简称"公司"）第六届董事会独立董事专门会 议第四次会议通知于 2025 年 11 月 27 日以电子邮件、书面形式送达公司全体独立董 事，并于 2025 年 12 月 1 日以通讯方式召开，会议应参会独立董事 3 名，实际参会 独立董事 3 名，全体独立董事共同推举徐萍平女士召集并主持本次会议。会议通知 和召开程序符合《上市公司独立董事管理办法》、《公司独立董事制度》和《公司 独立董事专门会议工作制度》等规定。会议审议并通过了以下决议： 一、审议通过《关于放弃参股公司增资的优先认缴出资权暨关联交易的议案》 经审查，我们认为：公司本次放弃参股公司增资的优先认缴出资权暨关联交易 事项，符合公司实际经营情况和长期发展战略，有助于推动浙江万里扬能源科技有 限公司（以下简称"万里扬能源公司"）进一步发展壮大，进而不断提高公司持有 万里扬能源公司的股权价值，符合公司长期利益。本次关联交易事项，符合有关法 律、法规及《公司章程》的规定，不会对公司财务状况和经营成果产生重大不 ...

第六届董事会第十二次会议决议公告 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。 浙江万里扬股份有限公司（以下简称"公司"）第六届董事会第十二次会议 通知于 2025 年 12 月 1 日以电子邮件、书面形式送达公司全体董事，并于 2025 年 12 月 12 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《关于放弃参股公司增资的优先认缴出资权暨关联交易的议案》 本议案已经公司第六届董事会独立董事专门会议第四次会议审议通过。 证券代码：002434 证券简称：万里扬 公告编号：2025-060 浙江万里扬股份有限公司 选举黄河清先生为代表公司执行公司事务的董事，并担任公司法定代表人， 任期自董事会审议通过之日起至第六届董事会任期届满之日止。 本次选举代表公司执行公司事务的董事事项不涉及公司法定代表人变更。 表决结果：9 票同意，0 票反对，0 票弃权。 三、审议通过《关于确认公司第六届董事会审计委员会成员及召集人的议案》 公司董事会确 ...

Core Viewpoint - Wanliyang (SZ 002434) announced a board meeting to discuss the waiver of priority subscription rights for capital increase in an associated company, indicating strategic financial decisions being made by the company [1] Company Summary - Wanliyang's revenue composition for the first half of 2025 is as follows: automotive parts manufacturing accounts for 94.97%, energy storage business for 4.53%, and financial leasing income for 0.5% [1] - As of the report, Wanliyang's market capitalization stands at 11.8 billion yuan [1]