Group 1: Company Overview - China National Heavy Duty Truck Group Jinan Truck Co., Ltd. is a manufacturing company listed on the Shenzhen Stock Exchange, primarily engaged in the production and sales of heavy-duty trucks and related components [2] - The company is controlled by China National Heavy Duty Truck (Hong Kong) Co., Ltd., which holds a 51% stake and specializes in the research and manufacturing of heavy-duty and medium-duty trucks, as well as key components [2] Group 2: Export Performance - The company has maintained the industry's leading position in exports for 20 consecutive years through its subsidiary, Heavy Truck International [3] - Key export markets include Africa, Southeast Asia, Central Asia, and the Middle East, with plans to expand into the Americas, Australia, and Eastern Europe [3] Group 3: Dividend Policy - The company has a stable dividend policy, consistently increasing the dividend payout ratio over the past five years [3] - In 2025, the company plans to continue cash dividends in the mid-term, balancing long-term sustainable development with shareholder returns [3]

Group 1: Engine and Data Center Business Development - The M series large-bore engines have seen significant production and sales growth in 2025, particularly for data center engines, driven by strong industry demand [1] - The company aims to leverage its technological performance, production capacity, and delivery efficiency to achieve its annual sales targets and expand into strategic high-end markets [1] Group 2: Heavy Truck Industry Outlook - In the first half of 2025, China's heavy truck market recorded cumulative sales of approximately 539,000 units, a year-on-year increase of about 7%, with exports reaching around 156,000 units, up about 3% [2] - The heavy truck market is expected to improve gradually, supported by the implementation of vehicle replacement policies, with June sales showing a year-on-year growth of 37% and a month-on-month increase of 10% [2] Group 3: Dividend Policy and Shareholder Returns - The company plans to maintain a cash dividend and share buyback strategy, with a projected dividend payout ratio of 55% for the full year of 2024, and cumulative dividends since listing nearing 35 billion yuan [2] - A share buyback plan of 1 billion yuan is set for 2025 to enhance investor satisfaction, while the company will continue to balance development needs and shareholder interests [2]

潍柴动力股份有限公司投资者关系活动记录表 编号：20250410 | | ■特定对象调研 □分析师会议 □媒体采访 □业绩说明会 | | --- | --- | | 投资者关系活动 类别 | □新闻发布会 □路演活动 | | | □现场参观 | | | □其他（请文字说明其他活动内容） | | 参与单位名称及 | 中信建投证券 陶亦然、李粤皖 | | 人员姓名 | 中邮保险资管 孟东晖 | | | 润晖投资 完颜许健 | | 时间 | 年 月 日 2025 4 10 9:30-10:30 | | 地点 | 公司科技大楼会议室 | | 上市公司接待人 | 刘涵、赵红蕾 | | 员姓名 | | | | 来访者在公司会议室就关注问题与公司进行了交流，交流 主要内容包括： | | | 1.公司 2024 年毛利率提升非常显著，具体有哪些推动因 素？后续是否还有进一步提升空间？ | | | 2024 年，公司调整产品结构，高附加值、高毛利产品销量 | | 投资者关系活动 | 增加拉动了整体毛利提升，尤其是数据中心销售近 400 台，同 | | 主要内容介绍 | 比增加 148%；工程机械（14T 以上）产品销售 1.4 ...