General Provisions - The company is established as a joint-stock limited company in accordance with the Company Law of the People's Republic of China and other relevant regulations [1] - The company was approved by the Zhejiang Provincial Government and registered with the Zhejiang Provincial Market Supervision Administration [1] - The company was listed on the Shanghai Stock Exchange on December 27, 2016, with an initial public offering of 86.66 million shares [1] Company Information - The registered capital of the company is RMB 1,309,812,049 [2] - The company is located at 666 Xiangfu Road, Lin'an District, Hangzhou, Zhejiang Province, with a postal code of 311305 [2] - The company is a permanent joint-stock limited company [2] Business Objectives and Scope - The company's business objectives emphasize integrity, efficiency, sustainable development, and social responsibility [3] - The business scope includes manufacturing and sales of various types of vehicles and equipment, including forklifts, automated equipment, and special equipment repair [4] Shares - The company's shares are issued in the form of stocks, with a par value of RMB 1 per share [5] - The total number of shares issued by the company is 1,309,812,049, all of which are ordinary shares [6] - The company can increase capital through various methods, including issuing shares to unspecified objects or existing shareholders [7] Shareholders and Shareholder Meetings - Shareholders have rights to dividends, voting, and supervision of the company's operations [10] - The company must hold an annual general meeting within six months after the end of the previous fiscal year [18] - Shareholder meetings can be convened by the board of directors or at the request of shareholders holding more than 10% of the shares [21] Decision-Making and Voting - Resolutions at shareholder meetings can be ordinary or special, with ordinary resolutions requiring a simple majority and special resolutions requiring a two-thirds majority [30] - The company must disclose detailed information about director candidates prior to shareholder meetings [24] - Voting rights are based on the number of shares held, with each share granting one vote [30]

Core Viewpoint - Zhejiang Zhongli Machinery Co., Ltd. participated in the 2024 Shanghai Stock Exchange Low Carbon New Energy Collective Performance Briefing, discussing its operational results and financial status for 2024 and Q1 2025 with investors [1][2]. Group 1: Company Performance and Market Strategy - The company's revenue from the U.S. market accounts for approximately 15% of its total revenue, despite facing a cumulative tariff increase of about 30%, leading to a total tariff of 55% on its products [2][3]. - To mitigate the impact of tariffs, the company has adjusted product prices, increased production capacity at its U.S. factory, and accelerated the construction of its factory in Thailand to reduce costs [3]. - The company maintains a higher gross margin than its peers in the forklift industry, with electric forklifts making up 74% of its revenue and gross margins of 26.24%, 29.5%, and 29.2% from 2022 to 2024 [4][5]. Group 2: Investment and Financials - The company's cash outflow for investment activities in 2024 is projected to be 1.045 billion, a 75% increase from 597 million in 2023, primarily due to investments in expanding production capacity and new projects [6]. - The company is also increasing investments in financial products, reflecting a significant rise in idle funds compared to the previous year [6]. Group 3: ESG Initiatives - The company has implemented solar energy solutions in its factories and established photovoltaic charging stations to enhance the use of clean energy [7][8]. - It is expanding its electric product line to replace traditional fuel-powered equipment, thereby reducing emissions [9]. - A recycling and remanufacturing system for old forklifts has been established to minimize new parts production and lower energy consumption [10]. Group 4: Future Outlook and Strategic Planning - The company is optimistic about future market opportunities, driven by global economic growth and increasing demand for efficient, intelligent, and environmentally friendly solutions [12]. - It is enhancing R&D efforts, with 46 innovation projects and 68 new products launched in 2024, focusing on smart handling products [13]. - The company is pursuing a global and localized strategy, expanding its presence in key markets, including the establishment of a new marketing headquarters in the U.S. and enhancing operations in Europe and Southeast Asia [14].