证券代码:600066 证券简称：宇通客车 编号：临 2024-058 宇通客车股份有限公司 关于对外担保的进展公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 2024 年 11 月发生担保事项（以下简称"本次担保"）的被 担保人为宇通客车股份有限公司（以下简称"公司"）全资子公 司香港宇通国际有限公司（以下简称"香港宇通"）、YUTONG FRANCE S.A.S.（以下简称"法国宇通"），控股子公司宇威顺通 （成都）汽车销售服务有限公司（以下简称"成都宇威顺通"） 等。 2024 年 11 月新增对子公司担保发生额为 50,411.12 万元； 为购房人申请按揭贷款提供阶段性担保发生额为 2,262.50 万元； 为购车客户等销售业务链相关企业提供担保/回购责任发生额为 42,032.59 万元。（外币金额根据 2024 年 11 月 29 日即期汇率折 算为人民币，如无特别说明，本公告中金额币种均为人民币） 截至本公告披露日，公司无逾期担保。 一、担保情况概述 （一）担保事项审议程序 本次担保事项已 ...

Group 1: Company Performance Overview - In the first three quarters of 2024, the company achieved bus sales of 31,346 units, a year-on-year increase of 19.3% [4] - Revenue reached 24.07 billion CNY, reflecting a year-on-year growth of 27.0% [4] - Net profit attributable to shareholders was 2.43 billion CNY, up 131.5% year-on-year [4] Group 2: Market Demand and Growth Drivers - The bus industry saw sales of 111,951 units for buses over 5 meters, marking an 18.0% increase year-on-year [4] - Growth in overseas markets contributed significantly to sales, driven by improved competitiveness of Chinese bus products [5] - Domestic sales benefited from the recovery in the tourism sector, leading to increased demand for passenger transport [4] Group 3: Export and New Energy Vehicles - The company exported over 6,000 new energy buses to more than 40 countries, including Qatar, Mexico, and the UK [5] - The "Belt and Road" initiative has opened up project opportunities, enhancing export growth in the new energy bus sector [5] Group 4: Production Capacity and Financial Returns - The total design capacity across three plants is 65,000 units per year, meeting current production demands [5] - Since its listing in 1997, the company has distributed a total of 22.7 billion CNY in cash dividends, representing 77.5% of net profits [5] Group 5: Customer Service and Market Expansion - The company operates over 330 authorized service stations globally, ensuring comprehensive customer support [5] - Plans for local assembly in countries like Kazakhstan and Pakistan aim to transition from product output to technology and brand licensing [5] Group 6: Recent Sales Performance - In October 2024, the company sold 3,221 buses, a year-on-year increase of 43.22% [9] - Cumulative sales from January to October 2024 reached 34,567 units, up 21.19% year-on-year [9]

2024 年 11 月份产销数据快报 证券代码：600066 证券简称：宇通客车 编号：临2024-057 宇通客车股份有限公司 注：本表为销售快报数据，最终数据以公司定期报告数据为 准。 二零二四年十二月三日 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 1 宇通客车股份有限公司2024年11月份产销数据快报如下： 单位：辆 产 品 2024 年 11 月份 去年同期 单月数量 同比变动 本年 累计 去年同期 累计 累计数量 同比变动 生产量 4,665 3,342 39.59% 40,150 32,924 21.95% 其中：大型 2,046 1,874 9.18% 21,890 17,635 24.13% 中型 1,566 1,131 38.46% 13,082 11,062 18.26% 轻型 1,053 337 212.46% 5,178 4,227 22.50% 销售量 3,736 3,285 13.73% 38,303 31,809 20.42% 其中：大型 1,492 1,905 -21.68% 20,630 ...

相关日期 | 股份类别 | 股权登记日 | 最后交易日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | --- | --- | | Ａ股 | 2024/12/4 | － | 2024/12/5 | 2024/12/5 | 证券代码：600066 证券简称：宇通客车 编号：临 2024-056 宇通客车股份有限公司 2024 年前三季度利润分配实施公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 每股分配比例 A 股每股现金红利 0.5 元（含税） 差异化分红送转：否 一、通过分配方案的股东大会届次和日期 本次利润分配方案经公司 2024 年 11 月 18 日的 2024 年第二 次临时股东大会审议通过。 二、分配方案 1、发放年度：2024 年前三季度 2、分派对象： 截至股权登记日下午上海证券交易所收市后，在中国证券登 记结算有限责任公司上海分公司（以下简称"中国结算上海分公 司"）登记在册的本公司全体股东。 3、分配方案： 本次利润分配以方案实施前的公司总股本 2,2 ...

中国北京建国门外大街 1 号国贸写字楼 2 座 12-14 层 100004 12-14th Floor, China World Office 2, No. 1 Jianguomenwai Avenue, Beijing 100004, China 电话 Tel: +86 10 6563 7181 传真 Fax: +86 10 6569 3838 电邮 Email: beijing@tongshang.com 网址 Web: www.tongshang.com 北京市通商律师事务所 关于宇通客车股份有限公司 2024 年 第二次临时股东大会法律意见书 本所同意将本法律意见书作为公司本次股东大会必备的法定文件，随其他文 件一并报送和公告，非经本所书面同意，本法律意见书不得用于其他任何目的或 用途。 本所律师按照律师行业公认的业务标准、道德规范和勤勉尽责精神，对本次 1 股东大会依法进行了见证，并对有关文件和事实进行了必要的核查和验证，现出 具法律意见如下： 一、关于本次股东大会的召集、召开程序 本次股东大会由公司董事会召集。2024 年 10 月 28 日，公司召开第十一届 董事会第八次会议，审议通过了关于召 ...

证券代码：600066 证券简称：宇通客车 编号：临 2024-055 宇通客车股份有限公司 2024 年第二次临时股东大会决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大 遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 本次会议是否有否决议案：无 一、会议召开和出席情况 (一)股东大会召开的时间：2024 年 11 月 18 日 (二)股东大会召开的地点：河南省郑州市管城回族区宇通路 6 号公 司行政楼六楼大会议室 (三)出席会议的普通股股东和恢复表决权的优先股股东及其持有股 份情况： | 1、出席会议的股东和代理人人数 | 1,482 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 1,393,356,563 | | 3、出席会议的股东所持有表决权股份数占公司有表 | 62.9356 | | 决权股份总数的比例（%） | | (四)表决方式是否符合《公司法》及《公司章程》的规定，大会主 持情况等。 会议由董事长汤玉祥先生主持，表决方式符合《公司法》及《公司 章程》的规定。 (五)公司董事、监事和董事会秘书的 ...

Group 1 - On November 18, a total of 48 stocks received buy ratings from institutions [1] - Among these, BYD, Yutong Bus, and Chuan Yi Co. received the highest attention, each with 2 buy ratings [1] - Other stocks such as Chongqing Department Store, AVIC Heavy Machinery, Fluorspar Network, Wanhua Chemical, Sanhua Intelligent Control, and Haili Wind Power received 1 buy rating each [1]

Investment Rating - The report maintains a "Buy" rating for Yutong Bus (600066 SH) [10] Core Views - Yutong Bus reported strong Q3 2024 results with revenue of 24 07 billion yuan (+27 0% YoY) and net profit of 2 43 billion yuan (+131 5% YoY) [2][5] - The company's profitability continues to improve with Q3 net profit margin reaching 9 8% (+2 4pct YoY) [7] - Yutong's domestic market shows steady growth in seating buses while the overseas market demonstrates strong profitability through globalization and premiumization strategies [2][8] - Battery cost reduction and economies of scale support sustained performance improvement [2][8] Financial Performance Revenue and Profit - Q3 2024 revenue reached 7 74 billion yuan (-1 2% YoY -20 4% QoQ) due to seasonal factors and export order timing [6] - Q3 2024 net profit was 758 million yuan (+30 7% YoY) exceeding expectations [7] Profitability - Adjusted Q3 2024 gross margin was 23 9% (+0 8pct YoY) [7] - Q3 2024 operating expense ratio improved to 14 3% (-0 4pct YoY) [7] - Per vehicle profit reached 70 000 yuan in Q3 2024 (+18 000 yuan YoY) [7] Sales and Production - Q3 2024 total sales volume was 10 791 units (-3 1% YoY -15 9% QoQ) [6] - Export sales accounted for 2 590 units (-15 6% YoY) in Q3 2024 [6] - New energy export sales were 324 units showing a decline both YoY and QoQ [6] Market Outlook Domestic Market - Seating buses continue to drive sales growth [8] - Bus replacement cycle and new subsidy policies are expected to boost the market in H2 2024 [8] International Market - Yutong demonstrates global competitiveness in electric buses [8] - Overseas expansion contributes significantly to profit growth [8] Valuation and Projections - 2024-2026 net profit forecasts are 3 51 billion 4 21 billion and 5 02 billion yuan respectively [8] - 2024-2026 PE ratios are projected at 14 5X 12 1X and 10 2X [8] Dividend Policy - Yutong announced a Q3 2024 dividend of 0 5 yuan per share (45 5% payout ratio) [8] - Total dividend distribution reached 1 11 billion yuan with a dividend yield of 2 2% [8]

Investment Rating - The report maintains a "Buy" rating for Yutong Bus [8][7]. Core Views - Yutong Bus has shown a recovery in sales with September sales reaching 3,788 units, a year-on-year increase of 6.2% and a month-on-month increase of 3.8%. The total sales for the first nine months of 2024 reached 31,346 units, up 19.3% year-on-year [5][6]. - The company is gradually exiting the off-season, with a significant increase in both domestic and export sales, particularly in the new energy segment. In September, the company exported 1,100 units of large and medium buses, including 200 units of new energy buses [5][6]. - The company is expanding its direct sales and service model, which is expected to enhance service quality and efficiency. Yutong plans to establish 43 new direct service centers and 25 direct parts warehouses in 2024 [6][7]. Summary by Sections Sales Performance - In September, Yutong sold 3,788 buses, with large and medium buses accounting for 3,351 units, reflecting a year-on-year increase of 7.8% and a month-on-month increase of 7.1%. For Q3, total sales were 10,791 units, down 3.1% year-on-year and down 15.9% month-on-month [5][6]. - The company’s sales structure is improving, with a notable increase in new energy exports [5]. Market Outlook - The domestic market is expected to recover as it enters the peak procurement period for buses, supported by higher-than-expected policy subsidies and a natural replacement cycle for public buses [5][6]. - The large and medium bus industry saw a year-on-year increase of 22.7% in sales from January to August 2024, with exports growing by 39.8% in the same period [5]. Financial Projections - Yutong's projected net profits for 2024, 2025, and 2026 are 35.1 billion, 42.1 billion, and 50.2 billion respectively, with corresponding price-to-earnings ratios of 14.5X, 12.1X, and 10.2X [7][6]. - The company is expected to maintain a strong cash flow, supporting its high dividend capability [7].

Investment Rating - The investment rating for the company is "Buy" and is maintained [9]. Core Views - The company reported a strong sales performance in October 2024, with total bus sales of 3,221 units, representing a year-on-year increase of 43.2% and a month-on-month decrease of 15.0%. The sales of medium and large buses were 2,782 units, up 40.4% year-on-year and down 17.0% month-on-month. Cumulatively, from January to October, total bus sales reached 34,567 units, a year-on-year increase of 21.2%, with medium and large bus sales at 30,460 units, up 23.0% year-on-year [2][5][7]. - The company is benefiting from a global and high-end strategy, with exports maintaining a high level. In October, the export volume of medium and large buses was approximately 1,100 units, with nearly 200 units being new energy buses. The domestic market is expected to see a recovery in sales due to the natural replacement cycle of buses and the implementation of subsidy policies [5][7]. - The company has a strong cash flow and is expected to continue high dividend payouts, with a dividend of 0.5 yuan per share (including tax) for the first three quarters of 2024, totaling 1.11 billion yuan and a dividend payout ratio of 45.5% [7]. Summary by Sections Sales Performance - In October 2024, the company sold 3,221 buses, a year-on-year increase of 43.2% and a month-on-month decrease of 15.0%. Medium and large bus sales were 2,782 units, up 40.4% year-on-year [2][5]. - From January to October, total bus sales reached 34,567 units, a year-on-year increase of 21.2% [5]. Export and Market Strategy - The company’s export strategy is showing positive results, with medium and large bus exports maintaining high levels. The export share is increasing, with nearly 200 new energy buses exported in October [5][7]. - The company is expanding its direct sales and service model, which is expected to enhance service quality and efficiency [6]. Financial Outlook - The company is projected to achieve net profits of 3.51 billion, 4.21 billion, and 5.02 billion yuan for the years 2024, 2025, and 2026, respectively, with corresponding price-to-earnings ratios of 14.5X, 12.1X, and 10.2X [7].