北京市立方律师事务所 关于徐州海伦哲专用车辆股份有限公司 2024 年年度股东会的 法律意见书 致：徐州海伦哲专用车辆股份有限公司 根据《中华人民共和国证券法》《中华人民共和国公司法》（以下简称"《公 司法》"）、《上市公司股东会规则》（以下简称"《股东会规则》"）、《律师事务所 从事证券法律业务管理办法》（以下简称"《证券法律业务管理办法》"）等相关法 律、法规、规范性文件以及《徐州海伦哲专用车辆股份有限公司章程》（以下简 称"《公司章程》"）的规定，北京市立方律师事务所（以下简称"本所"）指派律 师出席徐州海伦哲专用车辆股份有限公司（以下简称"公司"、"海伦哲"）2024 年 年度股东会（以下简称"本次股东会"），并出具本法律意见书。 对本法律意见书的出具，本所律师特作如下声明： 1、本所律师已经按照《股东会规则》的要求对本次股东会的真实性、合法 性进行了核查和验证（以下简称"查验"）并发表法律意见，本法律意见书中不存 在虚假记载、误导性陈述及重大遗漏。 2、本所律师仅对海伦哲本次股东会的召集、召开程序、出席人员的资格、 股东会表决程序和表决结果的合法性发表意见，而不对本次股东会所审议的议案 内容和该等议 ...

Industry Overview - Aerial work platforms are specialized vehicles used to transport personnel and equipment for aerial tasks, playing a crucial role in the construction machinery industry [1][2] - The global demand for aerial work platforms has significantly increased due to accelerated urbanization, rising infrastructure needs, and the growing demand for efficient equipment in industrial maintenance and construction [1][11] - The market size of China's aerial work platform industry has grown from 4.562 billion yuan in 2019 to 7.453 billion yuan in 2024 [1][11] Industry Status - The first aerial work platform in China was developed in the 1970s, initially used for tree maintenance, and has since evolved with improved technology and expanded applications across various sectors [7] - Despite challenges such as the pandemic, the annual sales volume of major domestic aerial work platform manufacturers has shown an upward trend, reaching 4,139 units in 2023 [7] - In 2024, sales volume is expected to decline by 4.88% to 3,937 units due to factors like the downturn in the real estate market [7] - The first quarter of 2025 shows signs of recovery with a 20.67% year-on-year increase in sales volume, reaching 1,267 units [7] Export Dynamics - Historically, China's aerial work platform export volume has been low, with annual exports not exceeding 80 units before 2024 [9] - However, since 2020, companies like XCMG and Helen Zhe have actively explored overseas markets, leading to a significant increase in export volumes, with 154 units exported in 2024, a 116.9% increase year-on-year [9] - The trend is expected to continue as international recognition of Chinese-made aerial work platforms grows [9] Competitive Landscape - The aerial work platform industry in China has high entry barriers, with market share concentrated among a few companies with strong technical capabilities and brand influence [13] - The CR3 market concentration ratio is 64.4%, and CR10 is 81.5%, indicating a highly concentrated market [13] - XCMG leads the domestic market with a 27.6% share in 2023, followed by Helen Zhe at 22.3% and Liu Gong at 14.5% [13] Development Trends - The industry is moving towards greater integration of smart and automated technologies, enhancing operational efficiency and safety through features like remote monitoring and fault warning systems [19] - Electric and new energy-driven aerial work platforms are becoming mainstream due to stricter environmental regulations and technological advancements [20] - Lightweight and oversized models are being developed simultaneously to meet the demands of high-rise construction and bridge maintenance [22]

Group 1: Financial Performance - The company achieved a record high net profit of 2.24 billion in 2024, representing a year-on-year growth of 8.64% [7] - In Q1 2025, the company reported revenue of 346 million, a year-on-year increase of 54.80%, and a net profit of 28.5 million, up 40.66% [11] - The company has set a challenging net profit target of 392 million for 2025, following a failure to meet the previous year's target of 280 million [4] Group 2: Market and Sales Performance - The company exceeded its initial sales target by achieving over 200 orders in the leasing market, compared to the original goal of 100 [2] - As of April 2025, the leasing industry sales reached two-thirds of the total sales for 2024 [2] - The company is actively pursuing military product projects, indicating an improvement in the military market compared to previous years [2] Group 3: Asset Management and Investments - The company expects to recognize an investment gain of approximately 20 million from the sale of Shanghai Liangji, which has completed all industrial and commercial changes [3] - The company is in the process of disposing of idle assets, including the Huizhou Lianshuo project, which is currently undergoing necessary certifications [3] Group 4: Corporate Governance and Shareholder Relations - As of April 30, 2025, the number of shareholders is 49,633 [6] - The company is in communication with major shareholder Shanghai Dinghang regarding their commitment to increase their stake, ensuring compliance with disclosure obligations [5] Group 5: Product Development and Innovation - The company launched a high-altitude drone fire truck in 2024, designed for urban high-rise fire emergencies, with a maximum firefighting height of 155.1 meters [10] - The first drone fire truck has been marketed successfully, with expectations for additional orders in the current year [10]

证券代码：300201 证券简称：海伦哲 公告编号：2025-033 徐州海伦哲专用车辆股份有限公司 关于举行 2024 年年度暨 2025 年第一季度网上业绩说明会的通知 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 徐州海伦哲专用车辆股份有限公司（以下简称"公司"）《2024年年度报告》 全文及报告摘要、《2025年第一季度报告》已于2025年4月15日、2025年4月22 日在巨潮资讯网（http://www.cninfo.com.cn）披露。为便于广大投资者更深入 全面地了解公司经营业绩、发展战略等情况，公司定于2025年5月8日（星期四） 15:00-16:00通过全景网举办2024年度暨2025年第一季度网上业绩说明会，与投 资者进行沟通和交流，广泛听取投资者的意见和建议。本次业绩说明会将采用网 络 远 程 的 方 式 举 行 ， 投 资 者 可 登 录 " 投 资 者 关 系 互 动 平 台 " （https://ir.p5w.net）参与本次业绩说明会。 一、说明会召开的时间、平台和方式 会议召开时间：2025年5月8日（星期四）15:00- ...

Investment Rating - The report assigns an "Accumulate" rating for the company, marking its first coverage [1]. Core Insights - The company has demonstrated steady growth in performance, with a significant increase in new orders [4][5]. - In 2024, the company achieved a revenue of 1.591 billion yuan, a year-on-year increase of 17.69%, and a net profit attributable to shareholders of 224 million yuan, up 8.64% year-on-year [4]. - The company has a strong order backlog, with new contracts signed in 2024 amounting to 1.967 billion yuan, representing a year-on-year growth of 83.95% [6]. Company Overview - Latest closing price: 4.85 yuan - Total shares: 1.009 billion, circulating shares: 1.005 billion - Total market capitalization: 4.9 billion yuan - 52-week high/low: 6.64/2.92 yuan - Debt-to-asset ratio: 40.4% - Price-to-earnings ratio: 21.43 [3]. Financial Performance - In Q1 2025, the company reported a revenue of 346 million yuan, a year-on-year increase of 54.80%, and a net profit of 29 million yuan, up 26.71% year-on-year [4]. - The company’s gross margin improved to 33.82% in 2024, with a decrease in expense ratio to 17.36% [6]. - The company’s revenue projections for 2025-2027 are 1.845 billion, 2.038 billion, and 2.231 billion yuan, with corresponding net profits of 297 million, 335 million, and 372 million yuan [8][9]. Product and Market Development - The company has increased its R&D investment, launching new products such as the GKH64 aerial work vehicle and a 3000kW mobile power generation unit [7]. - The company has expanded its product offerings in the international market, developing nearly 10 products tailored for target markets [7]. Earnings Forecast and Valuation - The expected earnings per share (EPS) for 2025-2027 are 0.29, 0.33, and 0.37 yuan, with corresponding price-to-earnings (P/E) ratios of 16.47, 14.62, and 13.16 [9][11].

中邮证券有限责任公司陈基赟,刘卓近期对海伦哲（300201）进行研究并发布了研究报告《业绩稳健增 长，新签订单高速增长》，首次覆盖海伦哲给予增持评级。 海伦哲 l事件描述 公司发布2024年年度报告与2025年一季报，2024年实现营收15.91亿元，同增17.69%；实现归母净利润 2.24亿元，同增8.64%；实现扣非归母净利润2.04亿元，同增48.17%。2025Q1公司实现营收3.46亿元，同 增54.80%；实现归母净利润0.29亿元，同增26.71%；实现扣非归母净利润0.29亿元，同增40.66%。 l事件点评 预计公司2025-2027年营收分别为18.45、20.38、22.31亿元，同比增速分别为15.90%、10.50%、9.44%；归 母净利润分别为2.97、3.35、3.72亿元，同比增速分别为32.87%、12.65%、11.08%。公司2025-2027年业绩 对应PE估值分别为16.47、14.62、13.16，首次覆盖，给予"增持"评级。 l风险提示： 新产品、新市场开拓不及预期风险；市场竞争加剧风险。 证券之星数据中心根据近三年发布的研报数据计算，东北证券刘俊奇研究员团队 ...

证券研究报告：机械设备 |公司点评报告 | 最新收盘价（元） | 4.85 | | --- | --- | | 总股本/流通股本（亿股）10.09 | / 10.05 | | 总市值/流通市值（亿元）49 | / 49 | | 52 周内最高/最低价 | 6.64 / 2.92 | | 资产负债率(%) | 40.4% | | 市盈率 | 21.43 | | 第一大股东 | 海徳资产管理有限公司 | 研究所 分析师:刘卓 SAC 登记编号:S1340522110001 Email:liuzhuo@cnpsec.com 分析师:陈基赟 SAC 登记编号:S1340524070003 Email:chenjiyun@cnpsec.com 海伦哲(300201) 股票投资评级 增持 |首次覆盖 个股表现 2024-04 2024-07 2024-09 2024-12 2025-02 2025-04 -19% -10% -1% 8% 17% 26% 35% 44% 53% 62% 海伦哲 机械设备 资料来源：聚源，中邮证券研究所 公司基本情况 公司发布 2024 年年度报告与 2025 年一季报，2024 年实现营收 ...

证券代码：300201 证券简称：海伦哲 公告编号：2025-032 徐州海伦哲专用车辆股份有限公司 关于公司持股 5%以上股东股份减持计划的预披露公告 持股5%以上的股东MEI TUNG(CHINA) LIMITED保证向本公司提供的信息内容 真实、准确、完整，没有虚假记载、误导性陈述或重大遗漏。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一致。 特别提示： 本公司股东MEI TUNG(CHINA) LIMITED持有公司股票71,613,325股，持股比 例为7.20%（以剔除公司回购专用账户14,144,000股后的总股本计算股份比例， 下同），计划自本公告披露之日起15个交易日后的3个月内通过集中竞价或大宗 交易方式减持股份不超过22,090,000股，占公司剔除回购专用账户股份后总股本 的比例为2.12%。 徐州海伦哲专用车辆股份有限公司（以下简称"公司"、"海伦哲"）于2025 年4月25日收到股东MEI TUNG(CHINA) LIMITED（以下简称"美通公司"）出具的 《股份减持计划告知函》，现将有关情况公告如下： 一、股东的基本情况 | 股东名称 | 股东性质 | 持股数 ...

近期海伦哲（300201）发布2025年一季报，证券之星财报模型分析如下： 营收与利润显著增长 海伦哲（300201）在2025年一季度实现了显著的营收和利润增长。具体来看，公司营业总收入达到3.46 亿元，同比增长54.8%；归母净利润为2863.85万元，同比增长26.71%；扣非净利润为2850.44万元，同 比增长40.66%。这表明公司在报告期内主营业务表现良好。 盈利能力分析 尽管营收和利润有所增长，但公司的盈利能力指标略有下降。毛利率为29.63%，同比下降1.33%；净利 率为8.65%，同比下降9.72%。这可能意味着公司在成本控制方面面临一定压力。 费用控制情况 公司在费用控制方面取得了一定成效。销售费用、管理费用、财务费用总计为5834.88万元，三费占营 收比为16.88%，同比下降4.88%。这表明公司在优化费用结构方面取得了一定进展。 现金流与资产状况 公司每股经营性现金流为0.06元，同比增长186.79%，显示出公司在经营活动中的现金流入有所改善。 同时，货币资金为4.96亿元，同比增长106.06%，表明公司流动性较为充裕。 应收账款风险值得关注 值得注意的是，公司应收账款体 ...

证券代码：300201 证券简称：海伦哲 公告编号：2025-030 徐州海伦哲专用车辆股份有限公司 第六届监事会第九次会议决议公告 经审议，监事会认为：公司董事会编制的《2025 年第一季度报告》符合法 律、法规和《公司章程》的有关规定，其内容与格式符合中国证监会和深圳证券 交易所的各项规定，所包含的信息真实、准确、完整地反映了本公司 2025 年第 一季度的财务状况、经营成果和现金流量。 具体内容详见公司同日在巨潮资讯网（www.cninfo.com.cn）上发布的 公司《2025 年第一季度报告》。 表决结果：该议案以 3 票同意，0 票反对，0 票弃权，获得通过。 1 三、备查文件 本公司及监事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 一、监事会会议召开情况 2025 年 4 月 21 日，徐州海伦哲专用车辆股份有限公司（以下简称"公 司"）以通讯方式召开第六届监事会第九次会议，本次会议通知于 2025 年 4 月 18 日以书面通知的方式发出。本次会议应参会监事 3 人，实际参会监事 3 人。会议由监事会主席彭少江女士主持。经充分讨论和审议，全部监事均表 ...