广东信达律师事务所 股东大会法律意见书 中国 深圳 福田区 益田路6001号太平金融大厦11、12楼 邮政编码：518038 11-12F., TAIPING FINANCE TOWER, 6001 YITIAN ROAD, FUTIAN, SHENZHEN, CHINA 电话(Tel.)：(0755) 88265288 传真(Fax.)：(0755)88265537 网址（Website）：http://www.sundiallawfirm.com 广东信达律师事务所 关于中集车辆（集团）股份有限公司 2025年第一次临时股东会的 法律意见书 信达会字[2025]第 080 号 致：中集车辆（集团）股份有限公司 广东信达律师事务所 股东大会法律意见书 贵公司董事 会 于 2025 年 4 月 15 日在巨潮资讯网站 （http://www.cninfo.com.cn）上刊登了《关于召开 2025 年第一次临时股东会的通 知》。2025 年 4 月 30 日 14:50，贵公司本次股东会现场会议依照前述公告在深 圳市南山区蛇口太子广场 18 楼 1803 室如期召开。 广东信达律师事务所（以下简称"信达"）接 ...

证券代码：301039 证券简称：中集车辆 公告编号：2025-027 （一）会议召开时间 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误 导性陈述或重大遗漏。 特别提示： 中集车辆（集团）股份有限公司 2025 年第一次临时股东会决议公告 1、本次股东会没有否决议案的情形。 2、本次股东会不涉及变更前次股东会决议。 一、会议召开情况 中集车辆（集团）股份有限公司（以下简称"公司"或"本公司"）2025年 第一次临时股东会（以下简称"本次股东会"）于2025年4月30日召开，公司已 于2025年4月15日在巨潮资讯网(http://www.cninfo.com.cn)上刊登《关于召开2025 年第一次临时股东会的通知》。 1、现场会议召开时间：2025 年 4 月 30 日（星期三）下午 14:50 召开 2、A 股网络投票时间：2025 年 4 月 30 日（星期三）。其中，通过深圳证券 交易所交易系统进行网络投票时间为 2025 年 4 月 30 日（星期三）上午 9:15- 9:25，9:30-11:30，下午 13:00-15:00；通过深圳证券交易所互联网投票系统投票 时 ...

Group 1: Financial Performance - In Q1 2025, the company achieved revenue of CNY 4.591 billion and a net profit of CNY 1.79 billion, with a net cash flow from operating activities of CNY 590 million, representing a year-on-year increase of 59.07% [2][3] - The global semi-trailer business generated revenue of CNY 3.26 billion, contributing a gross profit of CNY 530 million, with domestic semi-trailer sales increasing by 10.6% and revenue up by 5.1% year-on-year [3][4] - The company's EV·DTB business sold 6,000 units, achieving revenue of CNY 660 million and a gross profit of CNY 20 million, marking an 11.6% year-on-year increase in sales [3] Group 2: Market Development - The domestic semi-trailer market showed resilience, with sales driven by the "Starlink Plan" and "Rising Plan," resulting in a 10.6% increase in sales and a 5.1% rise in revenue [4] - The "Starlink" semi-trailer sales increased by 12.0%, with modular product sales accounting for approximately 40% of total sales [4] - In North America, the company sold 4,156 semi-trailers, generating revenue of USD 18 million, but faced a decline in sales and revenue due to supply chain disruptions and economic concerns [5][6] Group 3: Strategic Initiatives - The company is focusing on enhancing its supply chain resilience in North America by increasing local procurement and establishing backup supplies for key components from Thailand [6] - Plans to optimize asset structure and profitability include setting a return on equity (ROE) target to cover capital costs and improve asset efficiency [7][8] - The company aims to balance short-term and long-term goals by establishing a risk management system and monitoring market fluctuations, with a focus on long-term value creation [8]

证券代码：301039 证券简称：中集车辆 公告编号：2025-025 中集车辆（集团）股份有限公司 第三届监事会 2025 年第三次会议决议公告 本公司及监事会全体成员保证信息披露的内容真实、准确、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 中集车辆（集团）股份有限公司（以下简称"公司"或"本公司"）第三届监事 会2025年第三次会议通知于2025年4月15日以电子邮件的方式发出，于2025年4月 月25日以通讯会议的方式召开。会议应出席监事3名，实际出席监事3名。会议由 监事会主席马天飞先生主持。本次会议的召开符合《中华人民共和国公司法》等 有关法律法规和《公司章程》的规定。 二、监事会会议审议情况 经与会监事审议，会议通过了以下议案： 1、审议通过《2025 年第一季度报告》 监事会认为：公司董事会编制的《2025年第一季度报告》编制程序符合法律、 行政法规及中国证监会的有关规定，报告内容真实、准确、完整地反映了公司经 营、管理及财务等各方面的实际情况，不存在虚假记载、误导性陈述或者重大遗 漏。 具体内容详见公司于同日在巨潮资讯网（http://www.cninfo.com.c ...

中集车辆（集团）股份有限公司 第三届董事会 2025 年第四次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误 导性陈述或重大遗漏。 一、董事会会议召开情况 中集车辆（集团）股份有限公司（以下简称"公司"或"本公司"）第三届董事 会2025年第四次会议通知于2025年4月15日以电子邮件的方式发出，于2025年4 月25日以通讯会议的方式召开。会议应出席董事9名，实际出席董事9名。会议由 董事长李贵平先生主持。本次会议的召开符合《中华人民共和国公司法》等有关 法律法规和《公司章程》的规定。 证券代码：301039 证券简称：中集车辆 公告编号：2025-024 具体内容详见公司于同日在巨潮资讯网（http://www.cninfo.com.cn/）上披露 的《2025年第一季度报告》。 表决情况：9 票同意、0 票反对、0 票弃权。 三、备查文件 1、第三届董事会 2025 年第四次会议决议； 特此公告。 二、董事会会议审议情况 经与会董事审议，会议通过了以下议案： 1、审议通过《2025 年第一季度报告》 经审议，公司董事会认为公司《2025年第一季度报告》编制程序符 ...

Financial Performance - The company's operating revenue for Q1 2025 was ¥4,590,770,906.08, a decrease of 10.91% compared to ¥5,153,013,497.35 in the same period last year[5] - Net profit attributable to shareholders was ¥178,568,597.85, down 32.59% from ¥264,887,889.44 year-on-year[5] - The net profit after deducting non-recurring gains and losses was ¥170,734,861.63, reflecting a decline of 34.94% compared to ¥262,438,016.86 in the previous year[5] - Basic and diluted earnings per share were both ¥0.10, down 23.08% from ¥0.13 in the previous year[5] - The total comprehensive income for the period was ¥189,211,641.90, down from ¥276,637,782.64, indicating a decrease of approximately 31.5% year-over-year[31] Cash Flow - The net cash flow from operating activities increased by 59.07% to ¥590,065,530.58, up from ¥370,955,960.00 in the same period last year[5] - The company's cash flow from financing activities has shown a notable decline, suggesting a potential reevaluation of its financing strategy moving forward[35] - The net cash flow from financing activities was -$32,360,549.93, a significant decrease compared to $180,791,030.37 in the previous period, indicating a shift in financing strategy[35] - The total cash and cash equivalents at the end of the period increased to $6,685,883,864.13, up from $6,413,086,609.10, reflecting a net increase of $959,545,421.00[35] Assets and Liabilities - Total assets at the end of the reporting period were ¥23,082,707,120.21, an increase of 1.75% from ¥22,685,887,204.32 at the end of the previous year[5] - The total liabilities increased to approximately 7.95 billion yuan from 7.75 billion yuan at the beginning of the period[28] - The company's current assets totaled approximately 15.86 billion yuan, up from 15.40 billion yuan at the beginning of the period[27] - The company's equity attributable to shareholders reached approximately 14.57 billion yuan, compared to 14.38 billion yuan at the beginning of the period[28] Market Performance - In Q1 2025, the company sold a total of 30,000 vehicles, generating revenue of RMB 4.59 billion, with a gross margin of 14.3% and a net profit attributable to shareholders of RMB 180 million[15] - The global semi-trailer business produced 24,000 units, achieving revenue of RMB 3.26 billion and a gross profit of RMB 530 million, with domestic sales increasing by 10.6% year-on-year[16] - The "Starlink Plan" entered its second phase, with sales of Starlink semi-trailers increasing by 12.0% and revenue growing by 4.4%, while modular product sales accounted for approximately 40%[16] - The "Heroic Plan" also progressed to its second phase, with tank truck sales rising by 19.6% and revenue increasing by 12.3%, alongside a gross margin improvement of 3.3 percentage points[17] Economic Environment - The decline in net profit was attributed to a further drop in market demand amid a complex global economic environment[7] - The overall economic environment remains complex, with trade protectionism impacting global supply chains, but China's GDP is projected to grow by 5.4% year-on-year in Q1 2025[15] Strategic Initiatives - The company is focusing on expanding its presence in Southeast Asia and other emerging markets, with revenue growth of 3.1% and a gross margin increase of 7.5 percentage points in the southern global market[18] - The company has established a centralized procurement committee to enhance supply chain management and cost control for the "Starlink" and "Heroic" plans[17] - The company aims to evolve into a full-value chain operator for star chain semi-trailers, focusing on integrated electric head-mounted products[24] - The company emphasizes the "good horse with good saddle" business model, aiming to become the preferred superstructure contractor for new energy heavy-duty truck chassis[23] Research and Development - Research and development expenses increased to ¥77,525,475.53 from ¥51,005,878.34, marking a rise of approximately 52.0% year-over-year[29] - The company is developing two new models under the EV-RT2.0 technology platform, focusing on pure electric dumper trucks and mixing trucks, with market research completed in the Sichuan-Chongqing-Yunnan-Guizhou region[22] Governance and Compliance - The company has not yet audited its first-quarter report, which may affect the reliability of the financial data presented[36] - The new accounting standards will be implemented starting in 2025, which may lead to adjustments in financial reporting[36] - The board of directors of CIMC Vehicles (Group) Co., Ltd. convened on April 25, 2025, indicating ongoing governance and oversight activities[37]

Group 1 - The core viewpoint of the articles highlights the financial performance and market position of CIMC Vehicles, indicating a decline in revenue and profit compared to the previous year [1][2] - CIMC Vehicles' closing stock price is 8.57 yuan, with a rolling price-to-earnings (PE) ratio of 14.80 times, and a total market capitalization of 16.061 billion yuan [1] - The average PE ratio for the automotive manufacturing industry is 30.64 times, with a median of 28.87 times, placing CIMC Vehicles in the 9th position within the industry [1][2] Group 2 - As of February 28, 2025, CIMC Vehicles has 35,107 shareholders, an increase of 228 from the previous count, with an average holding value of 352,800 yuan and an average shareholding of 27,600 shares [1] - The main business of CIMC Vehicles includes the production, manufacturing, and sales of semi-trailers, special vehicles, refrigerated truck bodies, and complete vehicles, with notable brands operating in North America and Europe [1] - The latest financial results for 2024 show CIMC Vehicles achieved operating revenue of 20.998 billion yuan, a year-on-year decrease of 16.30%, and a net profit of 1.085 billion yuan, down 55.80%, with a gross profit margin of 16.32% [1]

Summary of Conference Call Records Company and Industry Overview - The company reported a total revenue of approximately 21 billion RMB for 2024, representing a year-on-year decline of 16.3% [1] - The net profit for the year was 1.085 billion RMB, down 56% year-on-year [1] - The gross profit margin for the year was 16.32%, a decrease of about 2.6% year-on-year, while the net profit margin was 5.15%, down approximately 4.6% [1] - The decline in revenue and profit margins was primarily attributed to a downturn in the North American market, which accounted for about 40% of the company's revenue in 2023 [1] Market Performance by Region - The North American market generated approximately 7 billion RMB in revenue, a year-on-year decline of 36%, with a gross profit margin decrease of 6.5 percentage points [2] - The European market saw a revenue decline of 18%, but the profit margin slightly increased by over 1 percentage point [2] - Other global markets, particularly emerging markets, experienced a revenue growth of 14% year-on-year, with a significant increase in gross profit margin of 5.6% [2] Emerging Market Opportunities - Emerging markets are expected to be a significant growth area for the company, driven by high infrastructure development [2] - The company noted that many emerging market customers are transitioning from used vehicles from established brands to new, cost-effective vehicles from Chinese manufacturers [3] - The company has observed a 20% growth in exports of heavy trucks to most emerging markets, excluding Russia, in the first two months of the year [3] Long-term Market Potential - The company anticipates that the total market capacity for trailers in emerging markets will be comparable to that of the domestic market, which is approximately 900,000 units annually [4] - The revenue from the Chinese market is estimated at around 8.7 billion RMB, while revenue from other emerging markets is about 2.9 billion RMB, indicating a significant growth potential in these regions [4] Profitability Trends - The company noted that both the North American and European markets, which have historically been significant profit sources, are currently in a recovery phase after experiencing a downturn from 2021 to 2023 [5] - The company expects a gradual improvement in these markets by 2025-2026, although significant revenue growth is not anticipated in the next two years [5] New Product Developments - The company has introduced new products tailored for the rapidly growing domestic new energy vehicle market, with penetration rates reaching 15%-20% recently [8] - New products include adaptations for electric heavy trucks, such as concrete mixers and refrigerated truck bodies, designed to accommodate the unique requirements of electric vehicles [8] - The company is conducting trial runs of new energy vehicle combinations, which have shown to save over 30% in energy consumption in certain scenarios [9] Conclusion - The company is positioned to leverage growth in emerging markets and adapt to the evolving landscape of new energy vehicles, while navigating challenges in established markets [9]

中集车辆（集团）股份有限公司 关于召开 2025 年第一次临时股东会的通知 证券代码：301039 证券简称：中集车辆 公告编号：2025-023 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误 导性陈述或重大遗漏。 中集车辆（集团）股份有限公司（以下简称"公司"或"本公司"）第三届董事 会2025年第三次会议审议通过《关于提请召开2025年第一次临时股东会的议案》， 现就本公司2025年第一次临时股东会（以下简称"本次股东会"）的有关事项通知 如下： 一、召开会议的基本情况 1、本次股东会届次：本公司2025年第一次临时股东会 2、本次股东会召集人：本公司董事会 3、会议召开的合法、合规性：本次股东会会议的召开符合上市公司相关法 律、行政法规、部门规章、规范性文件和《公司章程》的有关规定。 4、会议召开时间： （1）现场会议召开时间：2025 年 4 月 30 日（星期三）下午 14:50 召开 （2）A 股网络投票时间：2025 年 4 月 30 日（星期三）。其中，通过深圳证 券交易所交易系统进行网络投票时间为 2025 年 4 月 30 日（星期三）上午 9:15- 9:2 ...

中集车辆（集团）股份有限公司 第三届董事会 2025 年第三次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误 导性陈述或重大遗漏。 一、董事会会议召开情况 中集车辆（集团）股份有限公司（以下简称"公司"或"本公司"）第三届董事 会2025年第三次会议通知于2025年4月9日以电子邮件的方式发出，于2025年4月 14日以通讯会议的方式召开。会议应出席董事9名，实际出席董事9名。会议由董 事长李贵平先生主持。本次会议的召开符合《中华人民共和国公司法》等有关法 律法规和《公司章程》的规定。 二、董事会会议审议情况 经与会董事审议，会议通过了以下议案： 证券代码：301039 证券简称：中集车辆 公告编号：2025-022 2、审议通过《关于提请召开2025年第一次临时股东会的议案》 公司将于2025年4月30日14:50召开2025年第一次临时股东会，审议《未来三 年（2024年-2026年）股东回报规划》及《2024年度利润分配预案》。 具体内容详见公司在巨潮资讯网（http://www.cninfo.com.cn/）上披露的《关 于召开2025年第一次临时股东会的通知 ...