Core Viewpoint - Weima Agricultural Machinery (301533) reported disappointing financial results for the first half of 2025, with significant declines in revenue and net profit compared to the previous year [1][6]. Financial Performance - Total revenue for the first half of 2025 was 378 million yuan, a decrease of 13.02% year-on-year [1]. - Net profit attributable to shareholders was 19.14 million yuan, down 48.96% year-on-year [1]. - In Q2 2025, total revenue was 199 million yuan, a decline of 22.68% year-on-year, and net profit was 9.49 million yuan, down 54.72% year-on-year [1]. - The gross profit margin increased to 17.86%, up 5.39% year-on-year, while the net profit margin fell to 5.06%, down 41.32% year-on-year [1]. - Total expenses (selling, administrative, and financial) amounted to 27.76 million yuan, representing 7.34% of revenue, an increase of 140.26% year-on-year [1]. Balance Sheet Highlights - Cash and cash equivalents decreased by 18.92% to 616 million yuan [1]. - Accounts receivable decreased by 3.86% to 170 million yuan [1]. - Interest-bearing liabilities increased significantly by 333.43% to 10.98 million yuan [1]. Cash Flow Analysis - Operating cash flow per share was -0.23 yuan, a decrease of 192.83% year-on-year, indicating a significant drop in cash received from sales [1][5]. - The net cash flow from operating activities decreased due to reduced cash receipts from sales and increased inventory due to overseas operations [5]. Expense Breakdown - Selling expenses increased by 23.3% due to investments in marketing channels and brand development [4]. - Administrative expenses rose by 33.37% as the company invested in talent for its Thailand factory [4]. - Financial expenses increased by 62.63% due to reduced interest income [4]. Investment and R&D - R&D expenses increased by 30.85% as the company continued to invest in research projects [5]. - The company’s return on invested capital (ROIC) was 5.4%, indicating average capital returns, with a historical median ROIC of 20.79% since its listing [5].

Core Viewpoint - Weima Agricultural Machinery Co., Ltd. plans to conduct forward foreign exchange settlement and sales to mitigate the impact of exchange rate fluctuations on its performance [1][2]. Purpose of the Business - The company aims to improve the efficiency of foreign exchange fund usage, reduce financial costs, and lower the impact of exchange rate fluctuations on operations by engaging in forward foreign exchange transactions with qualified financial institutions [2]. - The primary currency involved is the US dollar, with a maximum contract value of $30 million per transaction [2]. - The funding will come from the company's own capital, and the business will be authorized for 12 months from the board meeting approval date [2]. Risk Analysis - Exchange rate fluctuation risk may lead to foreign exchange losses if the direction of fluctuations is inconsistent with the contract [3]. - Internal control risks arise from the complexity of the business, which may lead to potential risks if the internal control mechanisms are inadequate [3]. - There is a risk of counterparty default, which could result in losses for the company [3]. - Payment forecast risks may occur if customers or suppliers adjust orders, leading to delivery risks [3]. Risk Control Measures - The company plans to enhance exchange rate research and analysis, adjust operational strategies as needed, and establish a strict risk management system [3]. - Responsibilities will be clearly defined among the finance and audit departments to form a supervisory mechanism [3]. - The company will only engage with qualified financial institutions and will cautiously predict foreign currency receipts and payments [3]. Accounting Policies and Principles - The company will follow relevant accounting standards and guidelines from the Ministry of Finance for the accounting treatment of the forward foreign exchange business [4]. Review Procedures and Opinions - The board of directors approved the proposal on August 25, 2025, and the supervisory board believes that the business will help lock in exchange rate risks and reduce foreign exchange losses [4]. - The sponsor institution has verified that the purpose of the business is to mitigate the impact of exchange rate fluctuations on operational performance, and the matter has been reviewed by the board and supervisory board in compliance with relevant regulations [4].

Core Viewpoint - The company aims to conduct forward foreign exchange settlement and sales to mitigate the impact of exchange rate fluctuations on its financial performance and enhance the efficiency of foreign currency usage [1][5]. Group 1: Purpose of Forward Foreign Exchange Business - The company and its subsidiaries primarily conduct business in foreign currencies, and significant exchange rate fluctuations can adversely affect performance. Therefore, the company intends to engage in forward foreign exchange transactions with qualified financial institutions to reduce financial costs and exchange rate risks [1][2]. Group 2: Basic Situation of Forward Foreign Exchange Business - Forward foreign exchange settlement and sales are approved financial products for hedging foreign exchange risks. The company plans to limit its forward foreign exchange transactions to a maximum contract value of $30 million (including principal) or equivalent foreign currency on any given trading day [2][3]. Group 3: Risk Analysis - While the company adheres to a prudent approach and does not engage in speculative trading, there are inherent risks in forward foreign exchange operations, including potential exchange losses if contract directions are inconsistent or if exchange rates fluctuate significantly [3][4]. Group 4: Risk Control Measures - The company implements a clear management structure and responsibilities, ensuring a supervisory mechanism to mitigate risks. It also utilizes various risk control measures throughout the transaction process to prevent and reduce potential risks [4][5]. Group 5: Accounting Policies and Procedures - The company will follow relevant accounting standards for financial instruments and hedge accounting to appropriately reflect the forward foreign exchange business in its financial statements [4]. Group 6: Review Procedures and Opinions - The board of directors and the supervisory board have approved the forward foreign exchange business, recognizing its benefits in locking in exchange rate risks and reducing potential foreign exchange losses. The decision-making process complies with regulatory requirements [5].

格隆汇8月25日丨威马农机(301533.SZ)公布2025年半年度报告，上半年公司实现营业收入3.78亿元，同 比下降13.02%；归属于上市公司股东的净利润1914.08万元，同比下降48.96%；归属于上市公司股东的 扣除非经常性损益的净利润1812.90万元，同比下降50.95%；基本每股收益0.195元。 ...

| | | 占用方与上市公司的关联 | 上市公司核算 | 2025年期初 | 2025年上半年 2025年上半年 度占用累计发 度占用资金的 | 2025年上半年 | 2025年上半年 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 非经营性资金占用 | 资金占用方名称 | 关系 | 的会计科目 | 占用资金余额 | 生金额 利息 | 度偿还累计发 生金额 | 期末占用资金 余额 | 占用形成原因 | 占用性质 | | | | | | | （不含利息） （如有） | | | | | | 控股股东、实际控制人及 | | | | | | | | | 非经营性占用 | | 其附属企业 | | | | | | | | | 非经营性占用 | | 小 计 | - | - | - | | | | | | - | | 前控股股东、实际控制人 | | | | | | | | | 非经营性占用 | | 及其附属企业 | | | | | | | | | 非经营性占用 | | 小 计 | - | - | - | | | | | | - | | ...

证券代码：301533 证券简称：威马农机 公告编号：2025-058 威马农机股份有限公司 关于 2025 年半年度募集资金存放与使用情况专项报告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 根据中国证券监督管理委员会《上市公司募集资金监管规则》《深圳证券交 易所上市公司自律监管指引第 2 号——创业板上市公司规范运作》等监管要求及 公司《募集资金管理制度》的规定，威马农机股份有限公司（以下简称"公司" 或"威马农机"）编制了 2025 年半年度募集资金存放与使用情况专项报告，具体 情况如下： 一、募集资金基本情况 （一）实际募集资金金额和资金到账时间 根据中国证券监督管理委员会《关于同意威马农机股份有限公司首次公开发 行股票注册的批复》（证监许可〔2023〕1203 号），本公司由主承销商长江证 券承销保荐有限公司采用向参与战略配售的投资者定向配售、网下向符合条件的 网下投资者询价配售和网上向持有深圳市场非限售 A 股股份和非限售存托凭证 市值的社会公众投资者定价发行相结合的方式发行人民币普通股（A 股）股票 24,576,700 股，发行价为每股人民 ...

威马农机股份有限公司 关于开展远期结售汇业务的可行性分析报告 一、开展远期结售汇业务的目的 威马农机股份有限公司（以下简称"威马农机"或"公司）及子公司部分业务需采 用外币进行结算，因此当汇率出现较大波动时，不仅会影响公司业务的正常进行， 而且汇兑损益将对公司的业绩造成一定影响。为了提高外汇资金使用效率，合理降 低财务费用，降低汇率波动对公司经营的影响，公司及子公司拟与经有关政府部门 批准、具有相关业务经营资质的银行等金融机构开展远期结售汇业务。 二、远期结售汇业务的基本情况 远期结售汇是经中国人民银行批准的外汇避险金融产品。交易原理：与银行签 订远期结售汇协议，约定未来结售汇的外汇币种、金额、期限及汇率，到期时按照 该协议订明的币种、金额、汇率办理的结售汇业务，从而在即期锁定相关业务外币 金额的远期结售汇价格。 1、主要涉及币种 公司及子公司将以远期结售汇业务作为规避汇率风险的有效工具，只限于进出 口业务所使用的主要结算货币美元。 （一）风险分析 2、业务规模及投入资金来源 根据公司资产规模及业务需求情况，公司及子公司拟开展远期结售汇业务，预 计任一交易日持有的最高合约价值不超过 3,000 万美元（含本数 ...

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。 威马农机股份有限公司（以下简称"公司"）于 2025 年 8 月 25 日召开第三届董 事会第十三次会议、第三届监事会第十二次会议，审议通过了《关于开展远期结售 汇业务的议案》。现将相关事宜公告如下： 一、开展远期结售汇业务的目的 公司及子公司部分业务主要采用外币进行结算，当汇率出现较大波动时，汇兑 损益将对公司的业绩造成一定影响。为了提高外汇资金使用效率，合理降低财务费 用，降低汇率波动对公司经营的影响，公司及子公司拟与经有关政府部门批准、具 有相关业务经营资质的银行等金融机构开展远期结售汇业务。 开展远期购汇交易是以正常生产经营为基础，以稳健为原则，以货币保值和降 低汇率风险为目的，不做无实际需求的投机性交易，不进行单纯以盈利为目的外汇 交易，通过锁定汇率，降低汇率波动风险。 二、远期结售汇业务的基本情况 证券代码：301533 证券简称：威马农机 公告编号：2025-059 威马农机股份有限公司 关于开展远期结售汇业务的公告 远期结售汇是经中国人民银行批准的外汇避险金融产品。交易原理：与银行签 订远期结售汇 ...

证券代码：301533 证券简称：威马农机 公告编号：2025-057 第三届监事会第十二次会议决议公告 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 威马农机股份有限公司（以下简称"公司"）第三届监事会第十二次会议于 2025 年 8 月 25 日以通讯方式召开，会议通知于 2025 年 8 月 15 日通过传真、电话、邮件 或专人送达等方式送达全体监事。本次会议由公司监事会主席徐健先生主持，会议 应出席表决监事 3 人，实际出席表决监事 3 人。会议召集、召开、表决程序及审议 事项符合《中华人民共和国公司法》等法律、行政法规、部门规章、规范性文件和 《威马农机股份有限公司章程》等的规定，会议合法有效。 二、监事会会议审议情况 1、审议通过《关于<2025 年半年度报告及其摘要>的议案》 经审议，公司监事会认为：董事会编制和审核公司 2025 年半年度报告及摘要的 程序符合法律、行政法规和中国证监会的规定，报告内容真实、准确、完整地反映 了公司的实际情况，不存在虚假记载、误导性陈述或者重大遗漏。因此，监事会同 意 2025 年半年度 ...

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。 一、董事会召开情况： 证券代码：301533 证券简称：威马农机 公告编号：2025-056 威马农机股份有限公司 第三届董事会第十三次会议决议公告 威马农机股份有限公司（以下简称"公司"）第三届董事会第十三次会议于 2025 年 8 月 25 日以通讯方式召开，会议通知于 2025 年 8 月 15 日通过传真、电话、邮件 或专人送达等方式送达全体董事。本次会议由公司董事长严华先生主持，会议应出 席表决董事 7 人，实际出席表决董事 7 人。会议召集、召开、表决程序及审议事项 符合《中华人民共和国公司法》等法律、行政法规、部门规章、规范性文件和《威 马农机股份有限公司章程》等的规定，会议合法有效。 二、董事会会议审议情况： 经全体参会董事认真讨论，审议通过了以下议案： 1、审议通过《关于<2025 年半年度报告及其摘要>的议案》 根据《公开发行证券的公司信息披露内容与格式准则第 3 号—半年度报告的内 容与格式》《深圳证券交易所创业板上市公司自律监管指南第 1 号——业务办理》 等相关规定，并结合公司的实际情况 ...