Investment Rating - The report maintains a "Buy" investment rating for the company [10] Core Views - The company has achieved significant success in its overseas expansion, with a notable increase in export volume and a growing share of overseas revenue, which now accounts for nearly 40% of total income [4][10] - The company is advancing its lithium battery technology, which is expected to enhance its competitive position in the industrial vehicle sector, particularly in electric forklifts [5][10] - The integration of smart logistics solutions and partnerships with key players in the industry is transforming the company from a manufacturer to a comprehensive intelligent solution provider [6][10] Summary by Sections Market Performance - The company’s export volume reached 126,400 units in 2024, marking a year-on-year growth of 34.08%, significantly outpacing the industry average [4] Lithium Battery Technology - In 2024, the total sales volume of industrial vehicles was 1.286 million units, with electric forklifts making up 73.6% of the market. The company has successfully developed a 55-ton lithium battery forklift and is ramping up production capacity for lithium batteries [5] Smart Logistics Ecosystem - The company has established a smart logistics industrial park and integrated various automated guided vehicle (AGV) product lines with intelligent systems, enhancing its service offerings across multiple sectors [6] Financial Forecast - Projected revenues for 2025, 2026, and 2027 are 186.73 billion, 203.56 billion, and 220.23 billion yuan respectively, with corresponding EPS of 1.61, 1.80, and 1.99 yuan. The current stock price reflects a PE ratio of 11.3, 10.1, and 9.1 for the respective years [10][12]

转自：新华财经 新华财经合肥6月2日电（李芸）高端化、智能化、绿色化是工业车辆行业发展的必然趋势。近年来，安徽叉车集团核 心控股子公司安徽合力股份有限公司积极拥抱行业转型新浪潮，探索智能制造新模式、发展智能绿色新产业、培育智 能服务新动能，致力于打造制造业数字化转型和智能物流产业发展标杆企业。 以技术创新应对市场新需求 技术创新是企业发展的不竭动力。近年来，安徽合力深度聚焦智能化领域布局，凭借多年来在工业车辆领域自主研发 制造经验和先进的生产管理能力，以持续不断的产品和服务创新应对市场新变化、新需求。 安徽合力一直坚持国内、国际两个市场全面布局，深入推进"1个中国总部+N个海外中心+X个全球团队"国际化营销体 系建设。2024年，合力大洋洲中心、欧洲总部、欧洲研发中心、南美中心陆续开业，全年共实现整机出口12.64万台， 同比增长34.08%，海外业务收入占营业收入比重近40%。 2024年，安徽合力坚持高端化引领，关键技术获得突破，产品谱系持续拓展，攻克高效分布式电驱动技术，实现55吨 锂电池叉车研发上市，开发42款低温车型，实现26款仓储车研制上市，自主完成第二代混动堆高机开发，研发45吨氢 燃料牵引车和 ...