《杭叉集團：杭叉集團：2024年年度報告（英文版）.PDF》由會員分享，可在線閱讀，更多相關《杭叉集團：杭叉集團：2024年年度報告（英文版）.PDF（314頁珍藏版）》請在三個皮匠報告上搜索。
1、The 2024 Annual Report of Hangcha Group Co.,Ltd.1/314Stock code:603298Company name:Hangcha GroupHangcha Group Co.,Ltd.2024 Annual ReportApril 2025The 2024 Annual Report of Hangcha Group Co.,Ltd.2/314Important Notes1.The Board of Directors and the Board of Supervisors of the Company and its directors
2、,supervisors and senior management hereby warrant that the information contained in thisannual report is true,accurate and complete without any fictitious records,misleadingstatements or material omissions,and severally and jointly assume legal responsibility thereof.2.All the directors of the Compa
3、ny attended the meeting of the Board of Directors.3.Pan-China Certified Public Accountants LLP(Special General Partnership)has issued astandard unqualified audit report for the Company.4.Zhao Limin,the person in charge of the Company,Zhang Shutong,the officer in charge ofaccounting work andYuan Guan
4、ghui,the officer in charge of the accounting institution(Accounting Officer),hereby declare and warrant that the financial statements in the annualreport are authentic,accurate,and complete.5.The profit distribution plan or the plan for converting public reserve funds into additionalshare capital fo
5、r the reporting period after consideration by the Board of DirectorsAccording to the Pan-China Audit 2025 No.5468 issued by Pan-China Certified Public AccountantsLLP(Special General Partnership),the consolidated financial statements of the Company showedoperating revenue of RMB16,485,830,318.58 as o
6、f December 31,2024,and net profit attributable toshareholders of the listed company of RMB2,022,025,698.99.In 2024,the company made a provision ofRMB95,232,251.25 for statutory surplus reserves,and no provision was made for discretionary surplusreserves.Ofwhich,theprofitavailablefordistributionbythe
7、parentcompanywasRMB5,758,885,171.56.As resolved by the Board of Directors,the profit distribution plan is as follows:1.The Company intends to pay a cash dividend of RMB5(tax inclusive)per 10 shares to allshareholders.As of December 31,2024,based on the total share capital of 1,309,812,049 shares of
8、theCompany,the total cash dividend amount to be distributed is RMB654,906,024.50(tax inclusive).Theproportion of cash dividend is 32.39%of the net profit attributable to the parent company of theCompany for the year.The remaining undistributed profits of the parent company,amounting toRMB5,103,979,1
9、47.06,are carried over to the following year.2.No bonus shares will be issued,nor will the capital reserve be converted into share capital this year.If there is any change in the total share capital of the Company during the period from the date ofdisclosure of this announcement to the record date o
10、f the equity distribution,the distribution per sharewill be remained unchanged with a corresponding adjustment to the total distribution amount.The profit distribution plan is yet to be submitted to the Companys 2024 Annual General Meeting forconsideration.6.Risk statement regarding forward-looking
11、statementsApplicable Not applicableProspective statements carried in this report,such as future plans,do not constitute any substantialcommitments of the Company to investors.Please be cautious to the investment risks.7.Whether there is any non-operating capital occupation by the controlling shareho
12、lder andany other related partyNoThe 2024 Annual Report of Hangcha Group Co.,Ltd.3/3148.Whetherthereisanyexternalguaranteeprovidedinviolationoftheprescribeddecision-making proceduresNo9.Whether there are more than half of the directors who cannot guarantee the authenticity,accuracy and completeness
13、of the annual report disclosed by the CompanyNo10.Significant risk statementThe Report has described the significant risks that may adversely affect the future development of theCompany and the realization of its business objectives in detail in Section III Management Discussionand Analysis”.Apart f
14、rom this,there are no other significant risks that the Company needs to discloseseparately.11.Other Applicable N/AThe 2024 Annual Report of Hangcha Group Co.,Ltd.4/314Table of ContentsChapter 1 Definitions.5Chapter 2 Company Profile and Key Financial Indicators.9Chapter 3 Management Discussion and A
15、nalysis.14Chapter 4 Corporate Governance.55Chapter 5 Environment and Social Responsibility.83Chapter 6 Important Matters.99Chapter 7 Share Changes and Shareholder Information.124Chapter 8 Information Related to Preferred Shares.131Chapter 9 Bond-Related Information.131Chapter 10 Financial Reporting.
16、132Documentsfor FutureReferenceFinancial statements signed and sealed by the legal representative of the Company,theofficer in charge of accounting work and the officer in charge of the accounting institution.II.Original Audit Report bearing the seal of the accounting firm and signatures of the CPAs
17、who have performed the audit.Originals of all company documents and announcements that are disclosed in thenewspapers designated by the CSRC during the Reporting Period.The 2024 Annual Report of Hangcha Group Co.,Ltd.5/314Chapter 1 Definitions1.DefinitionsUnless otherwise stated in the context,the f
18、ollowing words and terms in this report shall be construed asfollows:Definition of frequently used words and termsCSRC,SecuritiesRegulatoryCommissionRefers toChina Securities Regulatory CommissionSSE,Stock ExchangeRefers toShanghai Stock ExchangeCompany LawRefers toCompany Law of the Peoples Republi
19、c of ChinaSecurities LawRefers toSecurities Law of the Peoples Republic of ChinaTheArticlesofAssociationRefers toThe Articles of Association of Hangcha Group Co.,Ltd.Hangcha Group,theCompany,CompanyRefers toHangcha Group Co.,Ltd.Hangcha HoldingRefers toZhejiang Hangcha Holding Co.,Ltd.,the controlli
20、ng shareholder of theCompanyHIIGRefers toHangzhou Industrial Investment Group Co.,Ltd.,the state-owned legalperson shareholder of the CompanyHangzhou Forklift&MetalWorking&WeldingRefers toHangzhou Forklift&Metal Working&Welding Co.,Ltd.,a subsidiaryof the CompanyHangzhouForkliftFrameRefers toHangzho
21、u Forklift Frame Co.,Ltd.,a subsidiary of the CompanyHangcha Bridge BoxRefers toHangzhou Hangcha Bridge Box Co.,Ltd.,a subsidiary of the CompanyKLForkliftComponentsRefers toHangzhou Hangcha KL Forklift Components Co.,Ltd.,a subsidiary ofthe CompanyHangchaElectricApplianceRefers toHangzhou Hangcha El
22、ectric Appliance Co.,Ltd.,a subsidiary of theCompanyHangcha MachineryRefers toHangzhou Hangcha Machinery Processing Co.,Ltd.,a subsidiary of theCompanyHangcha CastingRefers toHangzhou Hangcha Casting Co.,Ltd.,a subsidiary of the CompanyHangcha MaterialsRefers toHangzhou Hangcha Materials Trade Co.,L
23、td.,a wholly ownedsubsidiary of the CompanyHangcha CabRefers toHangzhou Hangcha Cab Co.,Ltd.,a subsidiary of the CompanyHangchaAerialPlatform EquipmentRefers toHangzhou Hangcha Aerial Platform Equipment Co.,Ltd.,a subsidiaryof the CompanyHangchaMachineryEquipmentRefers toHangzhou Hangcha Machinery E
24、quipment Manufacturing Co.,Ltd.,asubsidiary of the CompanyHangzhongMachineryRefers toHangzhou Hangzhong Construction Machinery Co.,Ltd.,a subsidiaryof the CompanyHangcha IntelligentRefers toZhejiang Hangcha Intelligent Technology Co.,Ltd.,a subsidiary of theCompanyBaoji HangchaRefers toBaoji Hangcha
25、 Engineering Machinery Co.,Ltd.,a subsidiary of theCompanyHanhe IntelligentRefers toHefei Hanhe Intelligent Logistics Technology Co.,Ltd.,a subsidiary ofthe CompanyHangcha Tianjin NewEnergyRefers toHangcha Group(Tianjin)New Energy Forklift Co.,Ltd.,a whollyowned subsidiary of the CompanyHangcha Okam
26、uraRefers toZhejiang Hangcha Okamura Co.,Ltd.,a subsidiary of the CompanyHangcha PrecisionRefers toHangzhou Hangcha Precision Manufacturing Co.,Ltd.,a subsidiary ofthe CompanyHangcha YunruiRefers toHangzhou Hangcha Yunrui Technology Co.,Ltd.,a subsidiary of theCompanyThe 2024 Annual Report of Hangch
27、a Group Co.,Ltd.6/314ZhejiangHangboElectricRefers toZhejiang Hangbo Electric Drive Co.,Ltd.,a subsidiary of the CompanyZhejiang ZhichujiaRefers toZhejiangZhichujiaMaterialHandlingEquipmentCo.,Ltd.,asubsidiary of the CompanyShanghai HangchaRefers toShanghai Hangcha Forklift Sales Co.,Ltd.,a subsidiar
28、y of theCompanyWuxi HangchaRefers toWuxi Hangcha Forklift Sales Co.,Ltd.,a subsidiary of the CompanySuzhou HangchaRefers toSuzhou Hangcha Forklift Sales Co.,Ltd.,a subsidiary of the CompanyWuhan HangchaRefers toWuhan Hangcha Forklift Sales Co.,Ltd.,a subsidiary of the CompanyNantong HangchaRefers to
29、Nantong Hangcha Forklift Sales Co.,Ltd.,a subsidiary of the CompanyKunshan HangchaRefers toKunshan Hangcha Forklift Sales Co.,Ltd.,a subsidiary of theCompanyTaizhou HangchaRefers toTaizhou Hangcha Forklift Sales Co.,Ltd.,a subsidiary of the CompanyXuzhou HangchaRefers toXuzhou Hangcha Forklift Sales
30、 Co.,Ltd.,a subsidiary of the CompanyBeijing HangchaRefers toBeijing Hangcha Forklift Co.,Ltd.,a subsidiary of the CompanyYancheng HangchaRefers toYancheng Hangcha Forklift Sales Co.,Ltd.,a subsidiary of theCompanyGansu HangchaRefers toGansu Hangcha Forklift Co.,Ltd.,a subsidiary of the CompanyFujia
31、n HangchaRefers toFujian Hangcha Forklift Co.,Ltd.,a subsidiary of the CompanyTaixing HangchaRefers toTaixing Hangcha Forklift Sales Co.,Ltd.,a subsidiary of the CompanyYantai HangchaRefers toYantai Hangcha Forklift Sales Co.,Ltd.,a subsidiary of the CompanyJinan HangchaRefers toJinan Hangcha Forkli
32、ft Sales Co.,Ltd.,a subsidiary of the CompanyQingdao HangchaRefers toQingdao Hangcha Forklift Sales Co.,Ltd.,a subsidiary of the CompanyChangchun HangchaRefers toChangchun Hangcha Forklift Sales Co.,Ltd.,a subsidiary of theCompanyNanning HangchaRefers toNanning Hangcha Forklift Sales Co.,Ltd.,a subs
33、idiary of the CompanyGuiyang HangchaRefers toGuiyang Hangcha Forklift Sales Co.,Ltd.,a subsidiary of the CompanyTangshan HangchaRefers toTangshan Hangcha Forklift Sales Co.,Ltd.,a subsidiary of theCompanyXiangyang HangchaRefers toXiangyang Hangcha Forklift Sales Co.,Ltd.,a subsidiary of theCompanyDo
34、ngguan HangchaRefers toDongguan Hangcha Forklift Co.,Ltd.,a subsidiary of the CompanyHenan ZhehangRefers toHenan Zhehang Forklift Sales Co.,Ltd.,a subsidiary of the CompanyHeilongjiangHangchaRefers toHeilongjiang Hangcha Forklift Sales Co.,Ltd.,a subsidiary of theCompanyXian HangchaRefers toXian Han
35、gcha Forklift Co.,Ltd.,a subsidiary of the CompanyGuangzhou ZhehangRefers toGuangzhou Zhehang Forklift Co.,Ltd.,a subsidiary of the CompanyShenzhen HangchaRefers toShenzhen Hangcha Forklift Co.,Ltd.,a subsidiary of the CompanyFoshan HangchaRefers toFoshan Hangcha Forklift Sales Co.,Ltd.,a subsidiary
36、 of the CompanyHuizhou HangchaRefers toHuizhou Hangcha Forklift Co.,Ltd.,a subsidiary of the CompanyInnerMongoliaHangchaRefers toInner Mongolia Hangcha Forklift Sales Co.,Ltd.,a subsidiary of theCompanyZhongshan HangchaRefers toZhongshan Hangcha Forklift Co.,Ltd.,a subsidiary of the CompanyYichang H
37、angchaRefers toYichang Hangcha Forklift Sales Co.,Ltd.,a subsidiary of the CompanyZhanjiang HangchaRefers toZhanjiang Hangcha Forklift Co.,Ltd.,a subsidiary of the CompanyRizhao HangchaRefers toRizhao Hangcha Forklift Sales Co.,Ltd.,a subsidiary of the CompanyQingyuan HangchaRefers toQingyuan Hangch
38、a Forklift Co.,Ltd.,a subsidiary of the CompanyNingxia HangchaRefers toNingxia Hangcha Forklift Sales Co.,Ltd.,a subsidiary of the CompanyLianyungangHangchaRefers toLianyungang Hangcha Forklift Sales Co.,Ltd.,a subsidiary of theCompanyZhangjiagangHangchaRefers toZhangjiagang Hangcha Forklift Sales C
39、o.,Ltd.,a subsidiary of theCompanyYiwu HangchaRefers toYiwu Hangcha Forklift Sales Co.,Ltd.,a subsidiary of the CompanyAnhui HangchaRefers toAnhui Hangcha Forklift Sales Co.,Ltd.,a subsidiary of the CompanyDalian ZhehangRefers toDalian Zhehang Forklift Sales Co.,Ltd.,a subsidiary of the CompanyThe 2
40、024 Annual Report of Hangcha Group Co.,Ltd.7/314Guigang HangchaRefers toGuigang Hangcha Forklift Sales Co.,Ltd.,a subsidiary of the CompanyWuhu HangchaRefers toWuhu Hangcha Forklift Sales Co.,Ltd.,a subsidiary of the CompanyZibo HangchaRefers toZibo Hangcha Forklift Sales Co.,Ltd.,a subsidiary of th
41、e CompanyZhumadian HangchaRefers toZhumadian Hangcha Forklift Co.,Ltd.,a subsidiary of the CompanyHangcha(Tianjin)SalesRefers toHangcha Group(Tianjin)Forklift Sales Co.,Ltd.,a subsidiary of theCompanyHangcha E-commerceRefers toHangzhou Hangcha E-commerce Co.,Ltd.,a subsidiary of theCompanyHangcha Le
42、asingRefers toHangcha Group Leasing Co.,Ltd.,a subsidiary of the CompanyZhejiangHangchaAccessoriesRefers toZhejiang Hangcha Accessories Sales Co.,Ltd.,a subsidiary of theCompanyHangcha New Energy(Wenzhou)Refers toHangcha New Energy Forklift(Wenzhou)Co.,Ltd.,a wholly ownedsubsidiary of the CompanyHan
43、gchaTianjinFinancial LeasingRefers toHangcha Group(Tianjin)Financial Leasing Co.,Ltd.,a wholly ownedsubsidiary of the CompanyHangchaPropertyManagementRefers toHangzhou Hangcha Property Management Service Co.,Ltd.,a whollyowned subsidiary of the CompanyHangcha Imp.&Exp.Refers toZhejiang Hangcha Imp.&
44、Exp.Co.,Ltd.,a subsidiary of the CompanyHangcha ThailandRefers toHangcha(Thailand)Co.,Ltd.,a wholly owned subsidiary of theCompanyHangchaGlobalServiceRefers toZhejiang Hangcha Global Service Co.,Ltd.Hangcha BrasilRefers toHangcha Brasil Ltda.,a wholly owned subsidiary of the CompanyHangcha EuropeRef
45、ers toHangcha Europe GmbH,a wholly owned subsidiary of the CompanyHC Forklift AmericaRefers toHC Forklift America Corporation,a wholly owned subsidiary of theCompanyHangchaForkliftCanadaRefers toHangcha Forklift Canada Inc.,a wholly owned subsidiary of theCompanyHangcha NetherlandsRefers toHangcha N
46、etherlands B.V,a wholly owned subsidiary of the CompanyHC Forklift AustraliaRefers toHC Forklift Australia Pty Ltd,a wholly owned subsidiary of theCompanyHangcha IndonesiaRefers toPT.Hangcha Indonesia Forklift,a wholly owned subsidiary of theCompanyHangcha JapanRefers toHangcha Japan Co.,Ltd.,a whol
47、ly owned subsidiary of the CompanyHangcha MalaysiaRefers toHangcha(Malaysia)Sdn.Bhd.,a wholly owned subsidiary of theCompanyHangchaForkliftVietnamRefers toHangcha Forklift Vietnam Co.,Ltd.,a wholly owned subsidiary of theCompanyHangcha Middle EastRefers toHangcha Middle East General Trading Fze,a wh
48、olly owned subsidiaryof the CompanyHangchaAmericaSmartGroupLogisticsRefers toHangcha America Smart Group Logistics Solution Corporation,awholly owned subsidiary of the CompanyHangchaEuropeRentalRefers toHangcha Europe Rental&Sales,a wholly owned subsidiary of theCompanyShanghaiHangchaOkamuraRefers t
49、oShanghai Hangcha Okamura Co.,Ltd.,a sub-subsidiary of theCompanyLiuzhou HangchaRefers toLiuzhou Hangcha Forklift Sales Co.,Ltd.,a sub-subsidiary of theCompanyGuangzhou HangchaLeasingRefers toGuangzhou Hangcha Leasing Co.,Ltd.,a sub-subsidiary of theCompanyChangzhouHangchaLeasingRefers toChangzhou H
50、angcha Leasing Co.,Ltd.,a sub-subsidiary of theCompanyHangcha(Shanghai)Refers toHangcha(Shanghai)Forklift Co.,Ltd.,a sub-subsidiary of theCompanyGuozi RoboticsRefers toZhejiang Guozi Robotics Co.,Ltd.,a sub-subsidiary of the CompanyThe 2024 Annual Report of Hangcha Group Co.,Ltd.8/314Hangcha MxicoRe
51、fers toMontacargas Hangcha De Mexico,a sub-subsidiary of the CompanyUniversalLithium-ion BatteryRefers toUniversal Lithium-ion Battery Supply LLC,a sub-subsidiary of theCompanyNanjing HangchaRefers toNanjing Hangcha Logistics Equipment Co.,Ltd.,a company withequity participation by the CompanyShijia
52、zhuangHangchaRefers toShijiazhuang Hangcha Forklift Sales Co.,Ltd.,a company with equityparticipation by the CompanyTaiyuan HangchaRefers toTaiyuanHangchaForkliftCo.,Ltd.,acompanywithequityparticipation by the CompanyNanchang HangchaRefers toNanchang Hangcha Forklift Co.,Ltd.,a company with equitypa
53、rticipation by the CompanyChangsha HangchaRefers toChangsha Hangcha Forklift Sales Co.,Ltd.,a company with equityparticipation by the CompanyChongqing HangchaRefers toChongqing Hangcha Forklift Sales Co.,Ltd.,a company with equityparticipation by the CompanyYunnan HangchaRefers toYunnanHangchaForkli
54、ftCo.,Ltd.,acompanywithequityparticipation by the CompanyShenyang HangchaRefers toShenyang Hangcha Forklift Sales Co.,Ltd.,a company with equityparticipation by the CompanyHuachang HydraulicRefers toZhejiang Huachang Hydraulic Machinery Co.,Ltd.,a company withequity participation by the CompanyOkamu
55、raTransmissionRefers toHangzhou Okamura Transmission Co.,Ltd.,a company with equityparticipation by the CompanyZhongchuanTransmissionRefers toChangsha Zhongchuan Transmission Co.,Ltd.,a company with equityparticipation by the CompanyHenan JiachenRefers toHenan Jiachen Intelligent Control Co.,Ltd.,a
56、company with equityparticipation by the CompanyEneroc New EnergyRefers toEneroc New Energy Technology Co.,Ltd.,a company with equityparticipation by the CompanyZhongce RubberRefers toZhongce Rubber Group Co.,Ltd.,a company with indirect equityparticipation by the CompanyZhongce HaichaoRefers toHangz
57、hou Zhongce Haichao Enterprise Management Co.,Ltd.,acompany with equity participation by the CompanyHangli DingshengRefers toZhejiang Hangli Dingsheng Machinery Co.,Ltd.,a company withequity participation by the CompanyHangchaSoutheastAsiaRefers toHangcha Southeast Asia Co.,Ltd.,a company with equit
58、y participationby the CompanyOkamura FurnitureRefers toHangzhou Okamura Furniture Co.,Ltd.,a company with equityparticipation by the CompanyYuan/TenthousandyuanRefers toThe Chinese currency of Renminbi/Tens of thousands of Renminbireporting periodRefers toJanuary 1,2024December 31,2024Industrial veh
59、icleRefers toPower-driven motor vehicles used for handling,pushing,pulling,lifting,stacking or loading various goods,which include forklifts,towtractors,stackers,reach stackers,etc.ForkliftRefers toA variety of wheel loaders used for loading and unloading,stacking,short-distance transport and heavy
60、lifting of pallets of goods,referredto as industrial vehicles in ISO/TC110 of the International Organizationfor Standardization.InternalcombustionforkliftRefers toForklifts powered by engines that run on diesel,gasoline or liquefiedpetroleum gas.Electric forkliftRefers toForklifts relying on batteri
61、es to power the motors that drive travel andthe hydraulic system to perform travel and handling operations.CounterbalanceforkliftRefers toForklifts with forks(or other replaceable devices)that can carry goods(with or without pallets).The load is cantilevered with respect to thefront wheels and is ba
62、lanced by the mass of the vehicle.The 2024 Annual Report of Hangcha Group Co.,Ltd.9/314Tow tractorRefers toIndustrial vehicles fitted with a traction linkage and specially designedfor pulling other vehicles on the ground.AttachmentRefers toLoad-bearing devices added to or in place of the forks of a
63、forklift,which are used to perform a variety of operations.Chapter 2 Company Profile and Key Financial Indicators1.Company ProfileName of the Company in ChineseHangcha Group Co.,Ltd.Short name of the Company in ChineseHangcha GroupCompany Name in EnglishHangcha Group Co.,Ltd.Company Abbreviation in
64、EnglishNoneLegal representative of the CompanyZhao Limin2.Contact Person and Contact InformationSectary to the BoardSecurities Affairs RepresentativeNameChen SaiminHuang MinghanAddressNo.666 Xiangfu Road,Linan District,Hangzhou,ZhejiangNo.666 Xiangfu Road,Linan District,Hangzhou,ZhejiangTel0571-8814
65、13280571-88926713Fax0571-881413280571-88926713E3.Brief Introduction to Company ProfileRegistered address of the CompanyNo.666 Xiangfu Road,Linan District,Hangzhou,ZhejiangChange history of registered addressNoneOffice address of the CompanyNo.666 Xiangfu Road,Linan District,Hangzhou,ZhejiangPostal c
66、ode of office address311305WE4.Information Disclosure and Place for InspectionNames and websites of media outlets for disclosure ofannual report of the CompanySecurities TimesWebsite of the stock exchange where the companydiscloses its annual reporthttp:/Location for inspection of annual report of t
67、heCompanySecurities and Legal Affairs Department,OfficeBuilding of Hangcha Group5.Stock ProfileStock ProfileClass of stockStock ExchangeStock nameStock codeStock name beforechangeA-shareShanghai StockExchangeHangcha Group603298NoneThe 2024 Annual Report of Hangcha Group Co.,Ltd.10/3146.Other Relevan
68、t InformationDomesticaccountingfirmappointed by the CompanyItemPan-China Certified Public Accountants LLP(Special General Partnership)Office addressBlock B,China Resources Building,No.1366Qianjiang Road,Hangzhou,Zhejiang ProvinceNameofsigningCPAsXu Jinbo,Tang Zheren7.Key Accounting Data and Financia
69、l Indicators for the Last Three Years(1)Key accounting dataUnit:Currency:CNYKeyaccountingdata20242023Increase/Decrease comparedwith previousyear(%)2022AfteradjustmentBeforeadjustmentAfteradjustmentBeforeadjustmentOperatingincome16485830318.5816298640931.4716271834470.721.1514527313554.7814412416415.
70、20Netprofitattributabletoshareholdersofthelistedcompany2022025698.991715611831.591720313075.4717.86986734874.91987353336.07Netprofitafterdeductionofnon-recurringgainsandlossesattributabletotheshareholdersofthelistedcompany1988854674.001688027697.881687795537.6917.82964033484.79964002943.49Netcashflo
71、ws fromoperatingactivities1336825600.121632087180.341621860863.22-18.09601592603.90625482631.76End of 2024End of 2023Increase/Decrease at the end ofthe currentreporting periodcompared withthe end of theprevious year(%)End of 2022AfteradjustmentBeforeadjustmentAfteradjustmentBeforeadjustmentNetassets
72、attributabletoshareholder10163895056.448619135437.22861986521717.926283074842.236279103378.13The 2024 Annual Report of Hangcha Group Co.,Ltd.11/314softhelistedcompanyTotal assets16362547960.7213995079169.1913894213061.9216.9211808039912.5211693308152.15(2)Key financial indicatorsKey financial indica
73、tors20242023Increase/Decreasecompared withprevious year(%)2022AfteradjustmentBeforeadjustmentAfteradjustmentBeforeadjustmentBasicearningspershare(RMB/share)1.541.331.3315.790.810.81Dilutedearningspershare(RMB/share)1.541.311.3117.560.800.80Basic earnings per share afterthe deduction of non-recurring
74、gains and losses(RMB/Share)1.521.311.3116.030.780.78Weighted average ROE（%）21.6422.1722.17Down by 0.53percentage points16.7016.70Weighted average ROE afterthe deduction of non-recurringgains and losses(%)21.2921.8121.81Down by 0.52percentage points16.3016.30Notes to the key accounting data and finan
75、cial indicators of the Company for the last three years at theend of the Reporting Period Applicable Not applicable1.In January 2024,Hangcha Intelligent,a wholly owned subsidiary of the Company,purchased 100%ofthe shares of Zhejiang Guozi Robotics Co.,Ltd.in cash.Therefore,Zhejiang Guozi Robotics Co
76、.,Ltd.was included in the consolidation scope of the consolidated financial statements during the ReportingPeriod.Since this was a business combination involving enterprises under common control,retroactiveadjustments were made to the previous consolidated financial statements in accordance with the
77、requirements of accounting standards.2.The aforementioned earnings per share are calculated based on the latest share capital of the Companyas of December 31,2024.3.The differences in the trailing digits of the quotients,totals,and sums of the addends after division inthe above table and this Report
78、 are due to rounding.8.Difference in Accounting Data under Domestic and Overseas Accounting Standards(1)Differences in net profit and net assets attributable to shareholders of the listed company infinancial reports disclosed in accordance with International Accounting Standards and ChinaAccounting
79、Standards Applicable Not applicable(2)Differences in net profit and net asset attributable to shareholders of the listed company infinancial report disclosed in accordance with overseas accounting standards and ChinaAccounting Standards Applicable Not applicableThe 2024 Annual Report of Hangcha Grou
80、p Co.,Ltd.12/314(3)Explanation on the difference between the domestic and overseas accounting standards:Applicable Not applicable9.Key Financial Data for 2022 by QuarterUnit:YuanCurrency:CNYQuarter 1(January-March)Quarter 2(April-June)Quarter 3(July-September)Quarter 4(October-December)Operating inc
81、ome4171783078.924382287051.804178744209.703753015978.16Netprofitattributabletoshareholders of thelisted company378735768.17627962096.57566292626.53449035207.72Netprofitafterdeductionofnon-recurring gainsandlossesattributabletotheshareholders of thelisted company375889061.81611133475.89559041961.7144
82、2790174.59Net cash flows fromoperating activities343175570.20278566522.6952110633.42662972873.81Explanation on the differences between the above quarterly data and what have been disclosed in pastperiodic reports Applicable Not applicable10.Non-recurring Gains and Losses Items and Amounts Applicable
83、 Not applicableUnit:YuanCurrency:CNYNon-recurring Gains and Losses ItemsAmount in2024Note(ifapplicable)Amount in2023Amount in2022Gains or losses on disposal ofnon-current assets(including write-offof provision for assets impairment)989100.454545177.292700444.91Government grants included in profit or
84、loss(excluding those closely related tooperating activities of the Company andgranted constantly affecting theCompanys profits or losses inaccordance with certain standards basedon state policies)45521493.7740699621.9841006894.93Gains or losses from changes in fairvalue of value and disposal of fina
85、ncialassets and liabilities held bynon-financial enterprises,excludingthose arising from hedging businessrelated to the Companys normaloperating activities-799155.95-13653244.56-47530448.07The 2024 Annual Report of Hangcha Group Co.,Ltd.13/314Fund occupancy fees collected fromnon-financial enterpris
86、es and recognizedin current gains or losses357568.721178458.95Profit or loss on entrusted investment ormanagement of assets41881.972205647.7010870814.33Reversal of impairment provision foraccounts receivable subject to separateimpairment testing612384.242233814.001520876.56Net profit or loss of subs
87、idiaries fromthe beginning of the period to the dateof consolidation arising from a businesscombination under the same control-1983591.63-5804004.79-763532.30Other non-operating revenue orexpenditures1613499.241409267.51755407.64Less:Effect of income tax7373343.174175472.28802590.21Non-controlling i
88、nterest affected(aftertax)5451243.93234241.86-13765063.38Total Amount33171024.9927584133.7122701390.12For items of non-recurring gains and losses defined by the Company that are of a significant amount andnot listed in the Explanatory Announcement No.1 on Information Disclosure for Companies Offerin
89、gTheir Shares to the PublicNon-recurring Gains and Losses,as well as for items of recurring gains andlosses defined by the Company that are listed in the Explanatory Announcement No.1 on InformationDisclosure for Companies Offering Their Shares to the PublicNon-recurring Gains and Losses asnon-recur
90、ring gains and losses,reasons shall be specified.Applicable Not applicable11.Items Measured at Fair Value Applicable Not applicableUnit:YuanCurrency:CNYItem NameOpening balanceClosing balanceChange in theperiodEffect on profitof current periodHeld-for-tradingfinancial assets80000333.3380000333.33418
91、81.97Receivables financing205590299.79282597817.0277007517.23Othernon-currentfinancial assets25591400.0026325621.62734221.62Derivativefinancialliabilities3911.26366815.63362904.37-799155.95Total Amount231185611.05389290587.60158104976.55-757273.9812.Others Applicable Not applicableThe 2024 Annual Re
92、port of Hangcha Group Co.,Ltd.14/314Chapter 3 Management Discussion and AnalysisI.Discussion and Analysis on OperationsIn 2024,the global economic structure has undergone profound adjustment and the complex changes inthe external development environment have brought many difficulties and challenges
93、to Chinaseconomic activities.However,thanks to our countrys solid economic foundation,diversifieddevelopmentadvantages,strongdevelopmentresilienceandhugedevelopmentpotential,thefundamentals for and the basic development trend of long-term economic development remainunchanged.The year 2025 marks the
94、final year of the 14th Five-Year Plan,and it is also a critical yearfor China to accelerate the transformation and upgrading and promote high-quality development.With aseries of national policies gradually implemented to stabilize expectations,stimulate vitality andpromote a sustained economic recov
95、ery,Chinas economic outlook is worth looking forward to.In the face of cyclical fluctuations and structural contradictions in the global economy,the Board ofDirectorsoftheCompanyhasstayedfocusedonthestrategicdirection,adheringtotheinnovation-driven strategy to lead all employees to emancipate their
96、minds,strive to forge ahead andeffectively respond to the complex challenges of involution and external pressure in the industrialvehicle industry.As a result,it has achieved success in the midst of difficulties and stabilized the sounddevelopment momentum of the Company.Faced with the downward pres
97、sure in the industry,theCompany has taken the initiative to stabilize the domestic market and make active deployments in theoverseas incremental market,taking new energy products as the main driving force to introduce Chinasindustrial vehicle brand to the world and taking the technology and product
98、innovation as the corestrategy for differentiation and competition.Based on a number of innovative initiatives such as productmix optimization and adjustment and industrial transformation and upgrading,the Company hasperformed well in operation,maintaining a benefit increase much greater than the sa
99、les increase,achieving an operating income of RMB 16.486 billion,up 1.15%year-on-year,and net profitattributable to shareholders of the listed company of RMB 2.022 billion,up 17.86%year-on-year.Overthe past year,the Company has laid a more solid foundation and base for development,furtherstrengtheni
100、ng the foundation for sustainable and steady growth in the future.The 2024 Annual Report of Hangcha Group Co.,Ltd.15/314Key Business Data for 2024During the Reporting Period,the company won numerous awards in many fields thanks to its excellentcomprehensive strength and innovative development achiev
101、ements,demonstrating its strong industrialcompetitiveness and social influence.It has been honored as one of the Top 100 Enterprises in ChinasMachinery Industry,a Large Key Backbone Enterprise in the Machinery Industry,a Single ChampionEnterprise in the Manufacturing Industry and an Influential Ente
102、rprise in the Construction MachineryIndustry,and has been included in the Top 100 Leading Enterprises for Zhejiang Private EnterpriseSocial Responsibility,the Top 50 Chinese Listed Companies with New Quality Productivity issued bySecurities Times,the Top 500 Innovative High-Tech Enterprises in Zheji
103、ang Province(ranked 59th),theTop 100 Manufacturing Enterprises in Zhejiang Province,the Top 100 Fastest Growing Enterprises inZhejiang Province and the List of Leading Private Economy Headquarters Enterprises in ZhejiangProvince.The Companys HCQM(Hangcha Quality Management)Mode project won the Silve
104、r Prizein the Third National Machinery Industry Product Quality Innovation Competition.Meanwhile,theCompany has achieved a series of fruitful results through continuous innovation in fields such as productresearch and development,market expansion,intelligent manufacturing and digital transformation.
105、These efforts not only promote the continuous upgrading of its products and services and the expansionof its market coverage,but also greatly improve its production efficiency and management effectiveness,helping to maintain the leading position of the Company in the global industrial vehicle indust
106、ry.Net profit attributable to theshareholders of the listedcompany(RMB)Operating income(RMB Hundred million)Net profit attributable to theshareholders of the listedcompany after the deduction ofnon-recurring gains and losses(RMB Hundred million)Sales volume(Ten thousand units)20232024202320242023202
107、420232024The 2024 Annual Report of Hangcha Group Co.,Ltd.16/3141.Enhance innovation-driven development and strengthen technology empowermentIn the face of a new context of global competition,the Company is committed to pursuing intelligent,green and global development of its products,and makes every
108、 effort to cultivate new quality productiveforces.The Companys product research and development activities are closely aligned to marketdemand,which focus on market access and international benchmarks and actively practice thetechnological innovation concept of“competing with benchmarking enterprise
109、s,surpassing thecompetitors,and developing the worlds best forklifts.In this way,the Company has significantlyenhanced multiple aspects of its products,including performance,quality,and service.During the Reporting Period,based on the integration of global technological resources,the Companytook new
110、 energy technologies such as battery,electric drive and electric control as the core and“userdemand+technological innovation”as the major drive,achieving 52 research and development projectswith products available for bulk sale,as well as 25 technological research and development projects withresult
111、s applied in the industry.The Company has launched several new energy forklift series,includingthe XA and XE series,which include products such as high-performance lithium-ion forklifts,permanent magnet lithium-ion forklifts,small wheelbase lithium-ion forklifts,man-up three-waystackers and multi-di
112、rectional electric side forklifts.In terms of technology research and developmentand key components,the Company has achieved a breakthrough in key components and a series of newtechnologies,including its electric vehicle brake assist and distribution system,integrated control systemfor heavy-duty ve
113、hicles,moment limit control system for telescopic handlers,hydrostatic driveelectro-hydraulic control system,specialized drive axle for off-road forklifts,handheld vehicle controlunit and cold storage lithium-ion batteries,with technology reaching a country-leading and even aworld-leading level.The
114、companys excellence in technological innovation is demonstrated by itsnumerous product and technology R&D achievements,such as“Research and Application of KeyTechnology for Safe Operation of Unmanned Forklifts in Complex Application Scenarios”andSingle Champion Enterprisein the ManufacturingIndustry
115、HonorHonor andand AwardsAwardsofof HangchaHangcha GroupGroupInfluential Enterprise in theConstruction Machinery IndustryTop 500 Chinese MachineryManufacturers in 2024Large Key Backbone Enterprisein the Machinery IndustryZhejiang Private EnterpriseSocial ResponsibilityTop 100 Leading EnterprisesTop 5
116、0 Chinese ListedCompanies with NewQuality ProductivityTop 100 Manufacturing Enterprisesin Zhejiang ProvinceTop 100 Fastest GrowingEnterprises in ZhejiangProvinceThe 2024 Annual Report of Hangcha Group Co.,Ltd.17/314“Research and Application of Forklift Safety Monitoring and Inspection System”,which
117、have won theMachinery Industry Science and Technology Award,the Provincial Science and Technology ProgressAward,and the BICES 2023 Construction Machinery Technology Innovation Product Golden Award.The Company has focused on developing core competitiveness in technology research and development,drive
118、n by invention patents and led by standards.During the reporting period,the Company was granted129 patents,including 82 invention patents,representing a year-on-year increase of over 60%.Thecompany has presided over and participated in the formulation and revision of one international standard,nine
119、national standards,four industry standards and two group/local standards,and has taken the lead indrafting the national standard Quantification Method and Requirements for Product Carbon Footprintof Greenhouse GasesIndustrial Vehicles,promoting technological progress in the industry whileconsolidati
120、ng and enhancing the Companys position and competitiveness in the industry.2.Respond rapidly to the market and comprehensively advance marketing transformationIn line with the new economic trend,the Company has given priority to increasing market share and haspromoted in-depth marketing transformati
121、on in the domestic market,continuing to promote thetransformation and upgrading of the organizational structure,business system and operation mechanismand responding rapidly to the market demand with users as the center.In the process of transformation tothe new energy segment,the Company has focuse
122、d on the professional market.It has formulated andimplemented targeted action plans and planned and promoted new energy forklift brands,such as Jinniuand Tianma.The Company has also launched a series of innovative marketing incentive policies andbusiness development strategies,such as quarterly prom
123、otions,annual exclusive sales,free of interest,and subleasing,in order to ensure that the Companys sales growth in the domestic market exceeds thatof the entire industry.The Company promptly seized the opportunity presented by the prosperousdevelopment of the leasing business by integrating and revi
124、talizing the unified national market,realizingthe sharing of leasing business resources,joint construction and win-win results.During the ReportingPeriod,the Company,while ensuring its stable development in the domestic market,integrated itsadvantageous resources and strengths to secure large projec
125、ts and explore high-quality clients in the2024 New Energy Products of Hangcha GroupHangcha,leading the way in the all-electric eraThe 2024 Annual Report of Hangcha Group Co.,Ltd.18/314automotive,logistics,airport,port terminal,retail and other industries,which gradually increased thepenetration rate
126、 of the Companys high-value new energy products,and continued to promote therevitalization and development of the brand.In the context of a traffic-driven economy,the Company actively grasps the trend of marketingtransformation,exploring new paths for product promotion and brand value enhancement an
127、dcontinuously strengthening the output of high-quality content.The Company has established a domesticand international new media operation and management team with the Marketing Departments of theE-commerce Company and the Import and Export Company as the two main pillars,and clarified theoverall ob
128、jectives and key tasks of the new media marketing transformation.It has set up an informationcommunication mechanism and conducted in-depth analyses of brand traffic and conversion rates,actively exploring ways to efficiently utilize the traffic resources.Through in-depth cooperation withleading Int
129、ernet platforms such as Tencent,ByteDance and Facebook,the Company has made efforts tocultivate a group of influential live streamers,thereby improving its operational and servicecapabilities targeting online customers and direct users.Thanks to advancements in Internet marketing,the Companys new pr
130、oducts,new technologies,new policies and new development achievements canquickly reach target customers.The transformation of the marketing model has not only enhanced theCompanys brand influence,but also ensured added value for customers.Jinniu/Tianma New Energy SeriesHangcha,leading the way in the
131、 all-electric eraThe 2024 Annual Report of Hangcha Group Co.,Ltd.19/3143.Consolidate the traditional markets and deepen global market expansionThe Company has consistently advanced its international expansion strategy,accelerating theconstruction of a global operational system,seizing opportunities
132、in overseas markets,strengthening theallocation of overseas resources,and continuing to expand and deepen the global market planningthrough a series of initiatives such as the establishment of overseas subsidiaries,the launch of newenergy products and the introduction of new energy models.Accordingl
133、y,the Company has maderemarkable progress in operational capability development and channel construction.During theReporting Period,the Company has established new companies in various regions and countries,including the United States,France,Japan,Indonesia,Malaysia,Vietnam and the Middle East,and h
134、assuccessfully opened more than 10 overseas companies in important global markets,achieving aqualitative leap in its own marketing and service network by linking individual sites.While promotingthe orderly development of its marketing service system,the Company took a key step with profoundinfluence
135、 in the strategic planning of globalization by investing in Thailand to set up a manufacturingcompany of Hangcha Group.This landmark move signifies a pivotal shift in Chinas forklift industry,shifting the focus from marketing services to industrial manufacturing in overseas markets,therebyleading th
136、e industrys transformation and upgrading.In view of the unbalanced market demand in regional markets worldwide,the Company adjusted itsproduct design and marketing strategy according to local conditions and increased marketing guaranteesand service support in major markets,so as to further increase
137、its overseas market share.During theReporting Period,the sales volume of the Companys overseas products exceeded 100,000 units,reaching a record high.While consolidating its advantages in traditional high-end markets such asEurope and North America,the Company increased its development efforts in em
138、erging markets such asBrazil,Southeast Asia and the Middle East,achieving a substantial year-on-year increase in productsales,and attracting many potent new clients willing to cooperate with the Company.The marketingHangcha held a national dealer conferenceDomestic Sales Business ofHangcha GroupHang
139、cha with innovative products at the first ConstructionMachinery Industry Science and Technology FestivalHangcha with numerous eye-catching products atCeMAT Asia 2024 in ShanghaiHangcha at NILTE,a CeMAT ASIA eventLithium-ion products of Hangcha were readyfor shipmentRental Forklifts of Hangcha wereas
140、sembled and ready for shipmentLithium-ion forklifts of Hangcha weredelivered to a leading harbor enterprisein bulkProducts of Hangcha were delivered to alarge domestic railway bureau group in bulkThe 2024 Annual Report of Hangcha Group Co.,Ltd.20/314strategies targeting large clients,port machinery
141、and large-tonnage forklifts provide the Company with anew opportunity to establish a comprehensive project management organization and set up professionalpre-sales and after-sales business teams,which would ensure the service assurance required by largeclients and large projects while improving the
142、pace of service response.In terms of international cooperation,the Company has assisted Manitou and other companies incomprehensive transformation and upgrading concerning new energy products through technologyempowerment,product empowerment and service empowerment,setting up a model of cooperation
143、andmutual trust while exporting the entire industrial value chain overseas.The first Hangcha Brazil DistributorConference was successfully heldOverseas Sales Business ofHangcha GroupThe lithium-ion luggage tractors were officially launched inKuala Lumpur International Airport,MalaysiaThe grand openi
144、ng of PT.HangchaIndonesia Forklift50 units of tow tractor were shipped to theSoutheast Asia marketA batch of aerial equipment of Hangchawas shipped to EuropeX series 25-ton internal combustion forklifts ofHangcha are used in a steel plant in PeruHangcha Overseas Technical Training Program-Li-ion Bat
145、tery-Hangcha MxicoHangcha Forklift Canada held the fifth anniversarycelebration and new warehouse opening ceremony“Cooperation with Hangcha”Activity ofHangcha GroupThe 2024 Annual Report of Hangcha Group Co.,Ltd.21/3144.Converge multidimensional resources and build the Great Hangcha industrial ecosy
146、stemDuring the Reporting Period,the Company followed the concept of a whole industry chain with themain industry as the core and leveraged its strengths as the main factory in the chain,which has a strongcapacity to promote the industry and a significant industrial cluster effect.It has continued to
147、 expand andstrengthen its diversified business segments,mainly centering on intelligent logistics,new energylithium-ion batteries,and aerial equipment,thereby injecting a strong impetus for the Companyshigh-quality development.For the first time,the contract value of the Companys intelligent logisti
148、cssolutions exceeded RMB 1 billion,and the company achieved remarkable development in the overseasmarket,successfully winning project orders from top global companies in the fields of FMCG,retail,automotive,and tires.Regarding its aerial equipment segment,the Company has formulated aforward-looking
149、plan to address overseas trade barriers,accelerated the speed of new productdevelopment,extended the product chain,and introduced a variety of forklifts with scissors andtelescopic handlers to the market throughout the year,largely enriching its product matrix.Concerningits new energy lithium-ion ba
150、ttery segment,the Company has achieved over RMB 100 million inrevenue from exports of its lithium-ion battery products thanks to the efficiency advantages of its newworkshops high-end automated production equipment,the quality assurance capabilities and the scaleadvantages of the industry,providing
151、strong support for the development of the Company.Relying onthe powerful lithium-ion battery industry and the strong brand influence of Hangcha,the Company hasalso performed well in business segments such as instrumentation,wiring harnesses and electric drives,fully demonstrating the positive role t
152、hat Hangchas new energy product strategy plays in upgrading theindustrial chain and promoting the technological iteration of the key product components.Up to now,the Great Hangcha industrial ecosystem has formed,with all business segments cooperating with andpromoting each other,creating a solid ind
153、ustrial ecological foundation for the sustainable developmentof the Company.Overseas Exhibitions of HangchaGroupLogiMAT(Germany)MODEX(The United States)Canadian Concrete ExpoIntermodal South America 2024(Brazil)The 135th Canton FairLogistics World Summit&Expo(Mexico)National Heavy Equipment Show(Can
154、ada)2024 Monterrey Expo(Mexico)CeMAT Australia 2024DTI-CX 2024(Indonesia)Logis-Tech Tokyo 2024(Japan)LogiMAT SEA 2024Platformers Day(Germany)China(UAE)Trade Fair 2024The 2024 Annual Report of Hangcha Group Co.,Ltd.22/3145.Strengthen industrial foundations and establish a high-end industrial chain sy
155、stemAs there is a crucial window of opportunity arising from the new round of international competition andindustrial revolution,the Company has seized the historic opportunity when the country vigorouslypromoted the development of new quality productive forces,consolidating and enhancing thecompreh
156、ensive leading advantages of Hangcha Group in the fields of new energy products andintelligent logistics.The company has taken technological transformation as the starting point,optimizing and adjusting the production planning of products,focusing on core technology research andquality improvement o
157、f core components,and actively planning for industrial chain upgrading.Duringthe Reporting Period,the construction of the Hangcha Intelligent Production Base Project with an annualoutput of 10,000 units of automation equipment was started in Hangcha Hengfan Science andTechnology Park Phase IV,in whi
158、ch the Company invested hundreds of millions of RMB.The projectwill powerfully promote the Companys products and solutions,guiding them toward high-end,intelligent upgrades and green transformation.Meanwhile,the project will continuously enhance thedevelopment vitality and international competitiven
159、ess of the Company,and continue to optimize itsone-stop intelligent logistics solutions that are independent,controllable,safe and highly efficient.TheIntelligent Transformation Project for High-end Large-Tonnage Forklifts and Ride-on WarehouseForklifts with an annual output of 3,000 units was promo
160、ted steadily,in which the Company invested atotal of RMB 160 million.Large high-end processing equipment,such as the double-ended boringmachine and the gantry milling machine,has been put into operation,contributing to significant YoYgrowth of the Companys high-end large-tonnage forklifts,and ensuri
161、ng that the sales of large-tonnageforklifts rank the highest in the domestic industrial vehicle industry.Thanks to their excellent quality andmanufacturing capability,the large-tonnage forklifts of Hangcha have not only won high recognitionfrom clients,but also successfully secured support from ultr
162、a-long-term special treasury bonds for thetwo new fields in 2024.The project has made initial achievements.Ecological Industry Chain of HangchaGroupAutomationLogisticsEquipmentAerialEquipmentAftermarketininvestmentsOthersNew EnergyProductsComprehensiveIntelligentLogisticsSolutionThe 2024 Annual Repo
163、rt of Hangcha Group Co.,Ltd.23/314In terms of industrial cooperation,the Company has achieved a leap-forward development.It has furtherrefined its industrial planning of its core technology for new energy industrial vehicles and developedZhejiang Hangbo Electric Drive Co.,Ltd.,a joint venture specia
164、lizing in permanent magnet motors forindustrial vehicles,in cooperation with Zhuhai Enpower Electric Co.,Ltd.Therefore,the Company hasdeveloped comprehensive technical innovation capabilities and solid industrial support in terms of coretechnologies of battery,electric drive and electric control for
165、 new energy industrial vehicles,building acompletely independent and controllable high-end supply chain system.Currently,Hangcha hassuccessfully built an intelligent,distinctive gigafactory with two parks in Qingshan and Hengfan at thecore,which features the synergistic development of multiple indus
166、tries such as the industrial vehiclemachine industry,the intelligent logistics industry,the parts and components industry and the modernservice industry,and the deep integration of the supply chain,industrial chain and innovation chain.Inthis way,the Company has laid a solid industrial foundation fo
167、r its long-term development.II.Introduction to the Industry where the Company Operates during the Reporting PeriodAs the core category of industrial vehicles,forklifts are the key equipment for mechanized loading andunloading,intelligent stacking and efficient short-distance transport in the modern
168、logistics system.Itsapplication scenarios cover logistics and warehousing,manufacturing and processing,transport hubs andother key areas of the national economy,and it plays an irreplaceable role in stations,ports,airports andintelligent factories.As the global industrial vehicle industry continues
169、to deepen its electrificationtransformation and intelligent upgrades,the demand of the new energy forklift market continues toclimb and the overall transformation and upgrading of the industry has achieved remarkable results,signifying that Chinas high-end equipment manufacturing field is accelerati
170、ng toward green,digitized,and intelligent practices.The sales volume of industrial motor vehicles exceeded 1.09 million units in2021.Following that,China maintained a sales volume of over one million units from 2022 to 2024 andProjectProject ConstructionConstruction ofof HangchaHangchaGroupGroupThe
171、construction project of the Science and TechnologyInnovation Park in Shiqiao of Hangcha Group was open forinvestmentThe groundbreaking ceremony for the Hangcha Intelligent Production Base in HangchaScience and Technology Park Phase IV,with an annual output of 10,000 units of automationequipment,was
172、held successfullyThe groundbreaking ceremony for the Hangcha Manufacturing Plant in Thailand was heldThe 2024 Annual Report of Hangcha Group Co.,Ltd.24/314ranked as the worlds largest forklift production and consumption market for several consecutive years.In 2024,the total sales volume of industria
173、l motor vehicles reached 1,285,500 units,up 9.52%comparedto 2023.Of those,800,500 units were sold domestically,up 4.77%compared to 2023,while 480,500units were exported,up 18.53%compared to 2023.This marks new record highs in terms of the totalsales volume,domestic sales and export volume.Considerin
174、g the industry sales structure by model,electric forklifts have maintained good growth momentum.In contrast,internal combustion forkliftshave seen a decrease of over 10%,with a particularly significant decline of 13.16%in the domesticmarket.The warehouse forklift has achieved the highest increase,an
175、d the sales volume of electricride-on warehouse forklifts and electric walkie warehouse forklifts increased by over 20%,respectively,with respective increases of 15%and 27%in the domestic and international markets.The forklift industry has seen continued progress,driven mainly by the synergy of inte
176、rnal and externalcycles.In the domestic market,there is a continuous and stable demand for material handling thanks toChinas economic and population advantages and the depth characteristics of its territorial space.Withthe acceleration in population aging and the wave of industrial automation upgrad
177、ing,the staged trend ofreplacing human workers with robots is transforming into an irreversible industrial revolution.In theinternational market,Chinas industrial vehicles have demonstrated great resilience in the face of acomplex global economic and trade environment.The 9.52%increase in exports de
178、monstrates thecomprehensive competitive advantages of Intelligent Manufacturing in China in technologicalinnovation,cost control,and the synergy of the entire industry chain.The increasing demand in both thedomestic and overseas markets not only reflect the basic manufacturing industrys attribute of
179、 livelihoodprotection,but also highlights the high-quality development path of the equipment manufacturing field.Trend of Annual Total Sales Volume of Chinas Industrial Vehicle Industry(Units)In 2024,from a model structure perspective,electric ride-on counterbalance forklifts(Class I vehicles)achiev
180、ed sales of 185,900 units,up 8.90%YoY;electric ride-on warehouse forklifts(Class II vehicles)achieved sales of 29,700 units,up 24.03%YoY;electric walkie warehouse forklifts(Class III vehicles)achieved sales of 730,600 units,up 21.39%YoY;and internal combustion counterbalance forklifts(Class IV and V
181、 vehicles)achieved sales of 339,300 units,down 10.06%YoY.Lithium-ion forklifts201120122013201420152016201720182019202020212022202320242024The 2024 Annual Report of Hangcha Group Co.,Ltd.25/314accounted for 47.43%of electric forklift sales,with 448,800 units sold.Lithium-ion counterbalanceforklifts a
182、ccounted for 71.71%of electric counterbalance forklift sales.In 2024,the sales volume oflithium-ion battery models in the three major electric forklift categories(Class I,II and III)is as follows:lithium-ion ride-on counterbalance forklifts of 133,300 units,lithium-ion ride-on warehouse forklifts of
183、10,600 units,and lithium-ion walkie warehouse forklifts of 304,900 units.In terms of regionaldistribution,lithium-ion forklifts achieved domestic sales of 244,000 units and export sales of 204,800units,with the export sales accounting for 45.63%of the total.Industry Sales Structure by Model in 2024A
184、ccording to the industry data analysis,the competitiveness of the models represented by the electricforklift and the new energy lithium-ion battery forklift has improved significantly,achieving substantialgrowth in their domestic and international market shares.The proportion of electric forklifts h
185、as reached73.61%,the proportion of electric counterbalance forklifts has exceeded 35.40%,and the proportion oflithium-ion battery forklifts among electric forklifts has grown significantly,reaching 47.43%.Meanwhile,the promotion and application of the domestic hydrogen fuel cell forklift is in full
186、swing,and demonstration applications have been carried out.Under the guidance of the industrial policy ofaccelerating the high-quality development of the manufacturing industry,the industrial vehicle industryis actively promoting a transformation from quantitative expansion to qualitative leap,which
187、provides the industry with a new development idea and direction,and gradually forms a new growthmomentum.In terms of product research and development,we focus mainly on high-end,digital-intelligent and green development.In addition to the traditional complete machine enterprisesand original supporti
188、ng industrial enterprises,some potent parts and components suppliers from the newenergy,automotive,construction machinery and other fields are entering the industrial vehicle industry,providing new drivers for the innovation and iteration of new technologies and products,and vigorouslypromoting the
189、industrys technological progress and product upgrading.Major existing enterprises arealso accelerating their strategic planning for the international market,aiming to promote more balancedElectric ride-on warehouse forkliftSales volume of 2,9700 unitsA YoY growth of 24.03%Internal combustion counter
190、balanceforklift339,300 unitsA YoY decrease of 10.06%Electric ride-on counterbalance forkliftSales volume of 185,900 unitsA YoY growth of 8.90%Electric walkie warehouseforkliftSales volume of 730,600 unitsA YoY growth of 21.39%Class IV and Class V Vehicles,26.39%ClassClass I I Vehicles,Vehicles,14.46
191、%14.46%ClassClass Vehicles,Vehicles,2.31%2.31%Class IClassClass IV&Class VClass ClassClass IIIIII Vehicles,Vehicles,56.84%56.84%The 2024 Annual Report of Hangcha Group Co.,Ltd.26/314and steady development of the domestic and international markets and further enhance the industrysinfluence and compet
192、itiveness in the global market.(Note:The data comes from the Industrial Vehicle Branch of the China Construction MachineryAssociation and has been rounded up to two decimal places)III.Introduction to the Companys Business during the Reporting Period1.Major business of the CompanyThe Company focuses
193、on the operation of the whole industry chain of industrial vehicles and relatedproducts.Its major business includes the research and development,manufacture and sales of industrialvehicles,including forklifts,warehouse forklifts,tow tractors,automated guided vehicles(AGVs)andintelligent handling rob
194、ots,and complete machines,such as aerial work vehicles,dynamic compactors,automation equipment and cleaning equipment,along with their key components.Moreover,it designs,implements,and maintains comprehensive intelligent logistics systems,and provides aftermarketservices,including the sales of indus
195、trial vehicle accessories,parts and kits,vehicle repair andmodification,industrial vehicle leasing,and leasing,manufacturing and remanufacturing of intelligenthandling robots.The 2024 Annual Report of Hangcha Group Co.,Ltd.27/314ClassIVehiclesClassIV&ClassVVehiclesReach truck Order pickerInternal co
196、mbustioncounterbalanceforkliftIntelligent LogisticsIntelligentHandling RobotIntelligentWarehousingPortMachineryOther CompleteMachineOther VehiclesParts&KitsKey componentsLithium-ionBatteryChargerConveyorLineDiversified Products of Hangcha GroupForkliftClassVehiclesClassVehiclesElectriccounterbalance
197、forkliftWarehouseforkliftThe 2024 Annual Report of Hangcha Group Co.,Ltd.28/3142.business model of the CompanyThe Company adopts a business model centering on R&D,manufacturing,marketing and services topromote the coordinated development of the upstream and downstream of the industrial chain.Thecomp
198、any specializes in industrial vehicles and adheres to an innovation-driven strategy,activelycultivating the new quality productive forces that integrate high-tech,high-efficiency and high-qualityfeatures.Through years of endeavor,the company has accumulated numerous capabilities,includingstrong tech
199、nological innovation capabilities,excellent quality assurance capabilities,a safe and efficientsupply chain system and a perfect marketing and service network.Leveraging these strengths,theCompany has transformed into a leading modern service enterprise that provides“manufacturing-relatedservices an
200、d solutions”in the industry.In terms of product sales,the Company adopts a diversifiedproduct sales model of“direct sales+distribution+e-commerce”,developing directly affiliated salescompanies,authorized and franchised dealers,and e-commerce platforms at home and abroad andbuilding up a global marke
201、ting and service system,so as to provide users worldwide with high-qualityindustrial vehicles and customized logistics solutions.IV.Core Competencies Analysis for the Reporting Period Applicable Not applicableGuided by our mission of Make material handling easier,we pursue diversified development ce
202、nteredaround our core industrial vehicle business.By focusing on digital empowerment,refined management,innovation-driven development,low-carbon transformation,and integrated development,we havecontinuously driven the transformation and upgrading of the forklift industry,cultivated new qualityproduc
203、tive forces within the industry,taken the lead in the industrys high-quality development,andenhanced our core competencies.We closely track industry trends and market demand changes andadhere to a market-oriented approach in adjusting our strategies,optimizing our structure,andmaintaining steady gro
204、wth.This has led to further consolidation of our market share,a significantincrease in our overall strength,and the reinforcement of our leading position in the industry,ultimatelyachieving high-quality development.Our core competencies are primarily reflected in the following aspects:1.R&D and Inno
205、vation-Driven AdvantagesWe keenly understand the development trends of industry transformation and upgrading.By adhering tothe philosophy of targeting benchmarks,surpassing competitors,and developing the worlds bestforklift products,we have built a technological innovation system characterized by on
206、e core,twowings,and comprehensive coordination.We leverage resources and teams from our provincial andnational-level technological innovation platforms,including the National Enterprise Technology Center,the National Accredited Laboratory,the National Industrial Design Center,the National Postdoctor
207、alResearch Workstation,the Zhejiang Provincial Industrial Vehicle Engineering Technology ResearchCenter,the Zhejiang Provincial Academician and Expert Workstation,and the Zhejiang Provincial KeyEnterprise Research Institute.We focus on green,intelligent,and service-oriented technologicalThe 2024 Ann
208、ual Report of Hangcha Group Co.,Ltd.29/314innovation,integrate the in-depth applications of cutting-edge technologies such as artificial intelligence,new energy,5G,and the Internet of Things,and concentrate on technological areas such as green andintelligent industrial vehicles,comfortable and safe
209、operation,high efficiency and reliability,intelligentlogistics,and digital R&D.We continue to increase investment in the R&D of core technologies forindustrial vehicles.We have mastered key technologies including lithium-ion battery-specificarchitectures for industrial vehicles,high-efficiency high-
210、torque permanent magnet synchronous motors,high-voltage platforms,intelligent safety systems,multi-sensor fusion active safety systems,and clustercollaborative scheduling algorithms.We continuously and efficiently develop and launch a wide array ofnew energy products and intelligent industrial vehic
211、les.Currently,the Company has successfully builtthe industrys most complete new energy product portfolio.Some products,including the 48thigh-voltage lithium-ion forklift,the 45t high-voltage lithium-ion container reach stacker,the 48thydrogen fuel cell forklift,and the high-voltage lithium-ion rough
212、 terrain forklift,have achievedindustry-leading status.These products have frequently won national,provincial,and municipal scienceand technology awards,fully demonstrating the Companys outstanding R&D and innovationcapabilities.Technological achievements ofHangcha GroupSecond Prize of the Machinery
213、 IndustryScience and Technology AwardsFirst Prize of the Zhejiang Provincial Scienceand Technology Progress Awards2024 Gaogong Golden Globe Award forApplications(Gaogong Hydrogen&Electricity)Innovation and Application Award in Forklift CategoryHangcha successfully hosted the expert review meetings f
214、orindustry standards(draft for review)Hangcha successfully hosted seminars for industry standards(draft)The 2024 Annual Report of Hangcha Group Co.,Ltd.30/3142.Leading Advantage in New Energy ProductsAs a leading enterprise in the forklift industry,the Company has built a complete product range of n
215、ewenergy industrial vehicles and established a proprietary and controllable key core component industrialecological chain through continuous engagement in the new energy field.To support a new energyindustrial vehicle product matrix centered on lithium-ion batteries,hydrogen energy,and hybrid power,
216、we have engaged in strategic forward-looking planning in the key component supply chain,ensuring thestable supply and cost advantages of lithium batteries,drive motors,and vehicle electrical controls.Inmanufacturing,we have continuously increased investment in technological renovation and built ands
217、uccessfully launched a future factory for new energy forklift components and complete machines.This has achieved a high degree of automation and intelligence in the production process.In R&D,wehave developed a series of core technologies,including lithium-ion battery-specific architectureplatforms,p
218、ermanent magnet synchronous drives,and high-voltage platforms.We have launched a fullrange of new energy products,including the XC series lithium-ion special-purpose forklifts,the XEseries lithium-ion battery special-purpose forklifts,the XH series all-weather heavy-duty high-voltagelithium-ion spec
219、ial-purpose forklifts,and the XC series hydrogen fuel cell forklifts.We replace lead-acidbatteries with low-voltage lithium-ion batteries,and our high-voltage lithium-ion batteries haveperformance surpassing internal combustion engines.Our product line covers the range from 0.6t to 48t,offering supe
220、rior performance,safety,efficiency,reliability,and high industry satisfaction.Our newenergy products have gained widespread recognition in both domestic and international markets andhave frequently won industry science and technology awards and recognitions for being the first of theirkind in China.
221、With leading technology,a complete product range,a stable supply chain,and high brandrecognition,we have built comprehensive and multi-layered competitive advantages in the new energyproduct field,leading the industry towards an accelerated transition to the all-electric era.Hangcha Groups R&D inves
222、tment inthe past five years2020202020212021202220222023202320242024Capital investment(RMB 100 million)Personnel input(people)Hundred million yuanNumber of peopleThe 2024 Annual Report of Hangcha Group Co.,Ltd.31/3143.Advantages in Global PresenceWe continue to expand our global presence by strengthe
223、ning the overseas marketing and after-salesservice network.A three-tier service network has been formed,consisting of headquarters-overseascompanies-agents,including more than 70 wholly-owned sales companies,more than 600 dealers,andmore than 10 overseas companies,covering more than 200 countries an
224、d territories.We have establishedmore than 10 overseas sales companies and parts service centers in major countries and regions such asEurope,North America,South America,Southeast Asia,and Oceania.The expansion of our ownchannels has achieved full coverage of our marketing and service network in maj
225、or global industrialvehicle markets,including Europe,North America,South America,Australia,and Southeast Asia.Ourinnovative marketing model comprehensively integrates the Companys human,financial,material,andinformation resources to carry out multi-channel sales,including direct sales to large custo
226、mers,cross-border e-commerce,and new media marketing.It enables rapid resource allocation,direct linkswith customers for information,improved response speed,and enhanced customer loyalty.We activelydeployed overseas manufacturing bases during the reporting period to address the uncertainties in thei
227、nternational trade environment.A wholly-owned manufacturing subsidiary was established in Thailand,with a design capacity of 10,000 counterbalance forklifts and aerial work platforms per year,and alsoincluding lithium battery assembly.Such efforts not only enhance the localized supply capacity in th
228、eSoutheast Asian market but also effectively reduce tariff costs through the ASEAN Free Trade Area,improving our ability to cope with trade barrier risks.We have successively established sales companiesin Malaysia and a leasing company in Vietnam,further improving the sales and service network inSou
229、theast Asia.Through the implementation of a three-in-one global strategy of technology+manufacturing+service,we have improved our ability to withstand market risks and steadily expandedour market share.More importantly,by leveraging our leading advantages in new energy andintelligence,we take the le
230、ad in industry transformation and development,injecting impetus into theCompanys long-term sustainable growth.New Energy Product Profile of Hangcha Group in 2024Hangcha,leading the way in the all-electriceraStock name:Hangcha GroupStock code:603298The 2024 Annual Report of Hangcha Group Co.,Ltd.32/3
231、144.Advantages from Empowerment by Intelligent ManufacturingWe have developed solid advantages in intelligent manufacturing through forward-looking and effectiveinnovative measures amidst the wave of intelligent transformation in the forklift industry.We work torevolutionize production processes by
232、actively introducing advanced technologies such as digital twins,5G applications,and the Industrial Internet.In production processes,data-driven systematicreconstructing has comprehensively improved production efficiency and quality control capabilities.Theapplication of intelligent welding technolo
233、gy not only improves welding precision but also significantlyshortens production time.Automated painting processes ensure the consistency and durability of productappearance.We are vigorously building intelligent super-factories to achieve the scale effect ofintelligent production.Currently,the two
234、intelligent production bases at the Qingshan Industrial Parkand the Hengfan Technology Park have attained a large scale,possessing more than 600 intelligentrobots of various types,more than 20 intelligent integrated production lines,and more than 10 spraypainting lines,among other advanced facilitie
235、s.They constitute a highly automated and intelligentproduction system,achieving full-process intelligence from automated material feeding and precisewelding to fine painting,efficient assembly,and logistics.A strong product supply capacity has beenformed with an annual production capacity of 400,000
236、 industrial vehicles and other logistics equipment.Domestic sales networkGlobal salesHeadquartersSubsidiaryDistributorsHangchaForklift CanadaHC ForkliftAmericaForeign subsidiaries ofHangcha GroupHangchaMxicoHC Forklift AmericaHangcha US suppliesgeneral lithium batteries toempower intelligentlogistic
237、sHangchaNetherlandsHangchaEuropeHangchaJapanHangchaMiddleEastHangcha makesproducts in ThailandHangchaThailandHangchaSoutheastAsiaHangcha ForkliftVietnamHangchaMalaysiaHangchaIndonesiaHC ForkliftAustraliaChinaChinaHangchaBrasilHeadquartersSubsidiaryDistributorsHangcha Group currently has morethan 60
238、domestic subsidiaries andmore than 300 domestic distributors.Hangcha Group currently has 18 foreign subsidiaries and morethan 300 overseas distributors in more than 200 countries andterritories.Hangcha EuropeRentalRentalThe 2024 Annual Report of Hangcha Group Co.,Ltd.33/314Our exploration and practi
239、ce in intelligent manufacturing have been widely recognized.During thereporting period,the Zhejiang provincial key R&D project we undertook,Research and Application ofIntelligent Factory Integration Technology for Industrial Vehicles to Accommodate Diverse Varietiesand Variable Batch Sizes,achieved
240、remarkable results,providing valuable experience and technicalsupport for the intelligent upgrading of production modes with diverse varieties and variable batch sizeswithin the industry.Hangcha has been inscribed in honorable lists as a National Service-OrientedManufacturing Demonstration Enterpris
241、e,National Green Supply Chain Management Enterprise,Future Factory in Zhejiang Province,and China Benchmark Intelligent Factory for its outstandingperformance in intelligent manufacturing,green development,and service-oriented manufacturing.TheCompany has become a model for intelligent manufacturing
242、 in the industry.We are able to effectivelycontrol costs,shorten delivery cycles,and quickly respond to market demand through the continuousoptimization of our production and manufacturing system.5.Advantages in Integration of Intelligent Logistics SolutionsThe market demand for intelligent logistic
243、s continues to grow in the context of intelligent transformationand upgrading across various industries.We were among the first in the industry to deploy in theemerging segments of intelligent logistics by developing a series of stacking,omnidirectional,forward-moving,and counterbalanced series of A
244、GVs powered by navigation methods.We haveestablished three major business groups,namely Hangcha Intelligent,Hangao Intelligent,and HanheIntelligent.Through the integrated construction of the industrial chain.We offer a comprehensive rangeof intelligent logistics solutions,encompassing AGV products,v
245、ertical storage,and software integrationsystems,as well as customized and scenario-based product development and engineering servicesadapted to customer needs.With extensive project experience,our professional technical teams havesuccessfully implemented more than 1,000 projects,helping customers in
246、 industries such asphotovoltaics,rubber,lithium batteries,3C electronics,food,pharmaceuticals,and ceramics toHangcha Qingshan Industrial ParkIntelligent factories ofHangcha GroupHangcha flexible assembly production lineHangcha intelligent automated storage andretrieval systemHangcha lithium battery
247、production lineHangcha integrated circuit packagingproduction lineHangcha Hengfan Technology ParkIntelligent factoriesAnnual capacity of400,000 units per yearThe 2024 Annual Report of Hangcha Group Co.,Ltd.34/314overcome the challenges of intelligent logistics in diverse and complex scenarios.We hav
248、e delivered anumber of benchmark projects,including finished product factories for leading beverage companies andintelligent logistics system integration projects for the metal products industry.During the reporting period,Hangcha Intelligent,a subsidiary of Hangcha,received numerous industryawards,
249、including the 2024 Top 100 High-Growth High-tech Enterprises of Zhejiang designated by theDepartment of Economy and Information Technology of Zhejiang Province,the Gaogong GoldenGlobe Award for Enterprises Industry Contribution in Past Five Years from Gaogong Robotics,and theOutstanding Contribution
250、 Award for Enterprise in Industry Standard Development from the ChinaMobile Robot&AGV/AMR Industry Alliance Association.Hangcha Intelligent has also established aprovincial-level R&D center for mobile robots,continuously strengthening its technological R&DStorage equipmentOther supportingequipmentPa
251、llet stacking systemBox stacking systemTwo-way RGVFour-way RGVLiftOverhead trolleyRobot armConveyorSorting linePackaging machineStockerIntelligent logistics business ofHangcha GroupHandling equipmentIntelligent logisticsproduct seriesIntelligent business ofHangcha GroupAn AGV project site Hangcha in
252、the textile industryCustomer acceptance of HangchaAGVsHangcha AGVs working in a siteof the metal industryAn intelligent warehouse project undertaken byHangcha for the wine industry is put into useAn intelligent warehouse project undertaken by Hangcha for the tireindustry is put into useHangcha AGVs
253、delivery to a customer in theceramic industryHangcha AGVs delivery to a customer in thebeverage industryHangcha AGVs ready for shippingThe 2024 Annual Report of Hangcha Group Co.,Ltd.35/314capabilities,laying a solid foundation for the Companys continued development in the intelligentlogistics field
254、,and further solidifying its competitive advantage and development potential in theindustry.6.Advantages in Culture-Leading DevelopmentHangcha has forged a leading advantage with a unique and influential culture in the industrial vehicleindustry for more than 60 years of profound development and mor
255、e than 20 years of bold reform andinnovation.To be the best forklift truck manufacturer in the world,we take on the mission of Makematerial handling easier while upholding our core values of integrity,responsibility,and sharing.Wecarry forward the Hangcha spirit of progress,pragmatism,innovation,and
256、 harmony,and promote ourfamily culture.These cultural concepts were further integrated into all aspects of the Companysoperations during the reporting period.In talent development and motivation,we fully leverage theadvantages of flexible human resource management mechanisms and sound management reg
257、ulationsand actively organize various training programs and skills competitions with diverse forms and richcontent,providing employees with continuous learning opportunities and broad development space,respecting and stimulating their individuality and abilities.In promoting our corporate culture,we
258、 makethe best of diversified channels,such as online learning platforms and corporate cultural activities,tostrengthen employees strong identification with the Companys values and enhance their sense ofbelonging and cohesion.In the face of intense market competition,we continuously launch new produc
259、tsand services that meet market demands,satisfying the diverse and personalized needs of differentcustomer groups through efficient team collaboration and a spirit of innovation that dares to breakboundaries.Meanwhile,we actively fulfill our social responsibilities and proactively participate inpubl
260、ic welfare activities,giving back to society through concrete actions,improving Hangchas brandimage and social reputation,and attracting the attention and favor of more high-quality talent andpartners,further solidifying our stronghold in the industry.Through cultural guidance,we havecultivated a hi
261、gh degree of loyalty and identification among employees,improved employee satisfaction,and enhanced the internal impetus for sustainable development.This lays a solid cultural foundation forHangchas advancement toward becoming a world-class logistics equipment manufacturer.The 2024 Annual Report of
262、Hangcha Group Co.,Ltd.36/314V.Main Operating Results during the Reporting PeriodFor the reporting period,the Company achieved an operating income of RMB 16,486 million,representing a YoY increase of 1.15%,net profit attributable to shareholders of the listed company ofRMB 2,022 million,a YoY increas
263、e of 17.86%,and net profit after deduction of non-recurring gains andlosses attributable to the shareholders of the listed company of RMB 1,989 million,a YoY increase of17.82%.1.Main Operating Results(1)Analysis of changes in related items of income statements and cash flow statementsUnit:YuanCurren
264、cy:CNYItemCurrentperiodcumulativePrecedingperiodcomparativeChange(%)Operating income16485830318.5816298640931.471.15Operating cost12603220242.4812915289176.66-2.42Selling expenses728012409.97597205662.6921.90Administrative expenses406617549.36345284671.7117.76Financial expenses-48510954.71-83448333.
265、12N/AR&D expenses774177062.16739836786.844.64Net cash flows from operatingactivities1336825600.121632087180.34-18.09Net cash flows from investingactivities-527633144.34-495592261.786.47Net cash flows from financingactivities-522752549.34-448367593.8916.59Reason for change in operating income:N/AReas
266、on for change in operating cost:N/AReason for change in selling expenses:N/AHangcha Group participated in the Ministry of Educations 24/365Internet plus Employment Guidance live classrooms2024 Hangcha Group SkillCompetition2024 Hangcha Cup Linan District Employee Skills Competition2024 Zhejiang Yout
267、h Love Sports HangzhouYouth Basketball Game2024 Hangzhou Industrial Trade Unions BadmintonCompetition2024 Hangzhou Industrial Trade Unions Employees Mens3x3 Basketball TournamentHangcha Employees HomeCorporate culture of HangchaGroupHangcha quality month activitiesThe 2024 Annual Report of Hangcha G
268、roup Co.,Ltd.37/314Reason for change in administrative expenses:N/AReason for change in financial expenses:Mainly due to increase in interest income and changes inforeign exchange rates.Reason for change in R&D expenses:N/AReason for change in net cash flows from operating activities:N/AReason for c
269、hange in net cash flows from investing activities:N/AReason for change in net cash flows from financing activities:N/ADetails of significant changes in business types,profit composition,or profit sources of the Company inthe current period Applicable Not applicable2.Income and cost analysis Applicab
270、le Not applicableFor the reporting period,the Company recorded an operating income of RMB 16,486 million,a YoYincrease of 1.15%,and an operating cost of RMB 12,603 million,a YoY decrease of 2.42%.(1).(1).Main operating results by industry,product,region,and sales modelUnit:Ten thousand yuanCurrency:
271、CNYMain operating results by productBy productOperatingincomeOperatingcostGrossprofit(%)Increase/decreaseinoperatingincome over thepreviousyear(%)Increase/decreasein operating costover the previousyear(%)Increase/decrease ingross profit over theprevious year(%)Forkliftandspareparts1623152.751236950.
272、6123.791.10-2.76Increase by 3.03 ppMain operating results by regionBy regionOperatingincomeOperatingcostGrossprofit(%)Increase/decreaseinoperatingincome over thepreviousyear(%)Increase/decreasein operating costover the previousyear(%)Increase/decrease ingross profit over theprevious year(%)Domestic9
273、38545.24762683.1318.74-1.40-3.24Increase by 1.54 ppOverseas684607.51474267.4830.724.75-1.98Increase by 4.76 ppNotes for main operating results by industry,product,region,and sales modelNone(2).(2).Analysis of production and sales volumes Applicable Not applicableMainproductUnitProduction volumeSales
274、volumInventoryIncrease/decrease in productionIncrease/decreaseinsalesIncrease/decrease in inventoryThe 2024 Annual Report of Hangcha Group Co.,Ltd.38/314sevolumevolumeoverthepreviousyear(%)volumeoverthepreviousyear(%)volumeoverthepreviousyear(%)Forklifts,etc.Unit2798232800121905412.8114.06-0.98Notes
275、 for production and sales volumesNone(3).(3).Performance of significant purchase and sales contracts Applicable Not applicable(4).(4).CostCost analysisanalysisUnit:Ten thousand yuanCurrency:RMBBy productBy productCostcomponentsAmount forthe currentperiodProportionoftotalcost in thecurrentperiod(%)Am
276、ountoverthesameperiodofthepreviousyearProportionoftotalcost in thesameperiod lastyear(%)Changeinamountinthecurrentperiodoverthesameperiodlastyear(%)InformationNoteForklifts,etc.andaccessoriesRawmaterials1113029.4092.971162264.4593.40-4.24Forklifts,etc.andaccessoriesLaborandwages35852.782.9930383.232
277、.4418.00Forklifts,etc.andaccessoriesDepreciation7714.610.647626.220.621.16Forklifts,etc.andaccessoriesEnergy8485.600.717527.840.6012.72Forklifts,etc.andaccessoriesOther32188.122.6936562.092.94-11.96Notes for other information in cost analysisNoneThe 2024 Annual Report of Hangcha Group Co.,Ltd.39/314
278、(5).(5).Changes in the scope of consolidation resulting from changes in equity interests in majorsubsidiaries during the reporting period Applicable Not applicable(6).(6).Details regarding significant changes or adjustments in the Companys business,products,or services during the reporting period Ap
279、plicable Not applicable(7).(7).Key clients and suppliersA.Key clients Applicable Not applicableThe sales from the top five clients were RMB 113,602.85Ten thousand yuan,accounting for 6.89%ofthe total annual sales;the related party sales in sales from the top five clients were RMB 0,accountingfor 0%o
280、f the total annual sales.During the reporting period,the proportion of sales to a single customer exceeds 50%of the total,orthere are new customers or a heavy reliance on a few customers among the top 5 customers Applicable Not applicableB.Key suppliers Applicable Not applicableThe purchases from th
281、e top five suppliers were RMB 217,734.35Ten thousand yuan,accounting for18.59%of the total annual purchases;the related party purchases in purchases from the top fivesuppliers were RMB 116,831.06Ten thousand yuan,accounting for 9.97%of the total annualpurchases.During the reporting period,the propor
282、tion of purchases from a single supplier exceeds 50%of the total,or there are new suppliers or heavy reliance on a few suppliers among the top 5 suppliers Applicable Not applicableOther notes:None3.Expenses Applicable Not applicableUnit:RMB 10,000 Currency:RMBItemAmount forthecurrentperiodAmountinth
283、e previousperiodChange(%)Reason for changeFinancialexpenses-4851.10-8344.83N/AMainlyduetodecreaseininterestincome and changes in foreign exchangerates.The 2024 Annual Report of Hangcha Group Co.,Ltd.40/3144.R&D investment(1).(1).R&D investmentApplicable Not applicableUnit:YuanCurrency:RMBR&D investm
284、ent as expenses in the current period774177062.16R&D investment as capital in the current periodTotal R&D investment774177062.16Proportion of total R&D investment to Operating income4.70Proportion of R&D investment as capital(2).(2).R&D personnel Applicable Not applicableNumber of R&D personnel1151P
285、roportion of number of R&D personnel to total number ofemployees(%)17.85Educational background of R&D personnelEducational background categoryPersonnel by educational backgroundDoctor1Master91Bachelors degree563Junior college309Senior high school or below187Age composition of R&D personnelAge compos
286、ition categoryPersonnel by age compositionYounger than 30(excluding 30)40730-40(including 30,excluding 40)45440-50(including 40,excluding 50)20550-60(including 50,excluding 60)8060 and elder5(3).(3).NotesApplicable Not applicable(4).(4).Reasons for material changes in the composition of R&D personne
287、l and their impact on theCompanys future development Applicable Not applicable5.Cash flows Applicable Not applicableUnit:RMB 10,000 Currency:RMBItemAmountfor thecurrentperiodAmountin thepreviousperiodChange(%)NotesThe 2024 Annual Report of Hangcha Group Co.,Ltd.41/314Cashreceiptsfromwithdrawalofinve
288、stments10220.56-100.00Mainly due to decrease in cash recoveredfrom wealth management in the currentperiod.Cashreceiptsfrominvestment income2849.00895.85218.02Mainlydue toincreaseindividendsreceived from shareholding in companiesin the current period.Othercashreceiptsrelatedtoinvestingactivities99.68
289、855.00-88.34Mainly due to merger of businesses undercommon control.Cashpaymentsforinvestments9289.41100.00Mainly due to increase in scale of wealthmanagement in current period.Net cash payments fortheacquisitionofsubsidiaries&otherbusiness units2986.00727.26310.58Mainly due to increase in acquisitio
290、n ofbusinesses under common control in thecurrent period.Other cash paymentsrelatedtoinvestingactivities176.223460.89-94.91Mainly due to decrease in losses fromderivative financial products in the currentperiod.Cashreceiptsfromabsorbing investments5001.203189.6456.79Mainlyduetocapitalincreaseofsubsi
291、diaries(by minority shareholders)inthe current period.Othercashreceiptsrelatedtofinancingactivities23000.005479.02319.78Mainly due to increase in notes discountproceeds received by the Company.Cashpaymentsforrepaymentofborrowings150148.63103779.7744.68Mainly due to increase in repayment ofloans in t
292、he current period.Other cash paymentsrelatedtofinancingactivities4670.3116028.96-70.86Mainlyduetodecreaseinequityrepurchases in the current period.IV.Effect of foreignexchange rate changesoncash&cashequivalents1507.896807.66-77.85Mainly due to exchange rate fluctuationsaffecting foreign currencies h
293、eld by theCompany.2.Notes for Significant Changes in Profits due to Non-Operating Activities Applicable Not applicable3.Analysis ofAssets and Liabilities Applicable Not applicable(1)Assets and liabilitiesUnit:Ten thousand yuanCurrency:RMBThe 2024 Annual Report of Hangcha Group Co.,Ltd.42/314Item Nam
294、eClosingbalance ofthecurrentperiodProportionof closingbalance ofthecurrentperiod tototalassets(%)Closingbalance ofthepreviousperiodProportionof closingbalance ofthepreviousperiod tototalassets(%)Proportionof changein closingbalance ofthecurrentperiod tothat of thepreviousperiod(%)NotesHeld-for-tradi
295、ngfinancial assets8000.030.49100.00Mainlyduetoincrease in wealthmanagementproducts.Accountsreceivable246639.7415.07161923.2511.5752.32Mainlyduetoincrease in foreignpaymentsreceivable.Receivablesfinancing28259.781.7320559.031.4737.46Mainlyduetoincreaseinunendorsedbankers acceptancebills retained at t
296、heend of the currentperiod.Advances paid34348.612.1049749.473.55-30.96Mainlyduetodecreaseinprepaymentformaterials.Otherreceivables27483.491.6815337.321.1079.19Mainlyduetoincrease in exporttaxrebatesreceivable.Contract assets10809.960.667905.830.5636.73Mainlyduetoincreaseinwarrantysecurityreceivables
297、.Construction inprogress58483.703.57042532.923.0437.50Mainlyduetoincreaseininvestmentinconstructioninprogressinthecurrent period.Right-of-useassets17462.651.07010452.770.7567.06Mainlyduetoincrease in housingleaseandleaseterms in the currentperiod.The 2024 Annual Report of Hangcha Group Co.,Ltd.43/31
298、4Long-termprepayments2555.990.161645.870.1255.30Mainlyduetoincrease in deferreddecorationexpenses.Deferredtaxassets11690.980.718100.000.5844.33Mainlyduetoincreaseindeductibletemporarydifferencescausedbyleasetransactions.Othernon-currentassets3075.000.22-100.00Mainlyduetotransferoflandpaymenttointang
299、ible assets.Short-termborrowings33174.232.0392784.246.63-64.25Mainlyduetodecreaseinshort-termbankborrowings.Derivativefinancialliabilities36.680.0020.390.000039278.45Mainlyduetochange in fair valueof forward foreignexchangetransactions causedby fluctuations ofUS dollar exchangerates.Notes payable881
300、33.025.3957529.244.1153.20Mainlyduetoincrease in bankersacceptancebillsissuedforsettlementformaterialsinthecurrent period.Contractualliabilities30771.561.8859970.094.29-48.69Mainlyduetodecreaseinadvance collectionofpaymentforgoods.Non-currentliabilitiesduewithin one year62979.883.852591.340.192330.4
301、0Mainlyduetoincreaseinreclassificationoflong-termborrowings in thecurrent period.The 2024 Annual Report of Hangcha Group Co.,Ltd.44/314Long-termborrowings5471.710.33100.00Mainlyduetoincreaseinlong-termbankborrowings in thecurrent period.Lease liabilities14390.990.887446.000.5393.27Mainlyduetoincreas
302、e in housingleaseandleaseterms in the currentperiod.Deferredincome9342.760.575416.170.3972.50Mainlyduetoincreaseingovernmentsubsidiesinthecurrent period.Deferredtaxliabilities64.700.0046.630.0005876.33Mainlyduetoincrease in taxabletemporarydifferencescausedbyleasetransactions.Share capital130981.208
303、.0093558.006.6940.00Mainlyduetoconversionofcapitalreservesinto capital in thecurrent period.Othercomprehensiveincome-390.13-0.02-1052.97-0.08N/AMainlyduetochangesinothercomprehensiveincome that can bereclassifiedtoprofitorlossinequity method.Other notes:None(2)Overseas assets Applicable Not applicab
304、lea.SizeWhere:The overseas assets were 171,638.72(Unit:Ten thousand yuanCurrency:CNY),accountingfor 10.49%of the total assets.b.Notes for the relatively high proportion of overseas assets Applicable Not applicable(3)Major asset restrictions as of the end of the reporting period Applicable Not applic
305、ableUnit:RMBCurrency:RMBThe 2024 Annual Report of Hangcha Group Co.,Ltd.45/314ItemBook value at theend of the periodReason for restrictionMonetaryfunds21351980.10Letter of guarantee bond,letter of credit bond,bankers acceptance billbond,and performance bondMonetaryfunds12041120.00Restricted use due
306、to incomplete bank account information of a newlyestablished companyIntangibleassets31159743.70Mortgage of borrowings(4)Other notes Applicable Not applicable4.Industry Operating Information Analysis Applicable Not applicableFor details,refer to the relevant information in Section III Management Disc
307、ussions and Analyses ofthe report.The 2024 Annual Report of Hangcha Group Co.,Ltd.46/3145.Investment AnalysisGeneral analysis of external equity investment Applicable Not applicableThe Company continued to expand upstream and downstream around its main business and strengthened the capacity building
308、 of key business modules and theservice capacity building of aftermarket.The Company increased the capital of Hangcha Gaokong,Hangcha Leasing,and Tianjin Financing,among others,by RMB276 million,and invested RMB 37.7 million in newly established Hangcha Yunrui and Hangbo Electric.The actual investme
309、nt in international market developmentreached more than RMB 33 million.The total investment reached RMB 349 million in the whole year.(1)Significant equity investments Applicable Not applicable(2)Significant non-equity investments Applicable Not applicable(3)Financial assets measured at fair value A
310、pplicable Not applicableUnit:YuanCurrency:CNYAssetcategoryOpening balanceGains andlosses fromfair valuechanges inthe currentperiodCumulative fairvalue changesrecognised inequityImpairmentin thecurrentperiodPurchase amount inthe current periodAmountsold/redeemed in thecurrent periodOtherchangesClosin
311、g balanceOther231181699.79333.335826487334.825668745595.97388923771.97TotalAmount231181699.79333.335826487334.825668745595.97388923771.97Securities investmentThe 2024 Annual Report of Hangcha Group Co.,Ltd.47/314 Applicable Not applicableNotes for securities investment Applicable Not applicableInves
312、tment in private equity funds Applicable Not applicableInvestment in derivative Applicable Not applicablea.Investment in derivatives for hedging purpose during the reporting period Applicable Not applicableUnit:YuanCurrency:CNYTypeInitialinvestmentamountBookvalue atthebeginningof theperiodGains andl
313、osses fromfair valuechanges inthe currentperiodCumulativefair valuechangesrecognisedin equityPurchaseamount in thereporting periodSales amount inthe reportingperiodBook valueat the end ofthe periodProportionof closingbook valueto theCompanysnet assets atthe end ofthereportingperiod(%)Forward contrac
314、ts of foreign exchange-3911.26-362926.37242985500.00199995500.00-366815.63-0.0003Total Amount-3911.26-362926.37242985500.00199995500.00-366815.63-0.0003Significant changes in the accounting policies andspecific accounting principles of hedging businessduring the reporting period compared to the same
315、period in the previous yearNo significant changesActual gains or losses during the reporting periodDuring the reporting period,the actual loss of derivatives transactions for hedging purposes was RMB-799,200Effect of hedgingThe Company mitigates risks in the foreign exchange market through foreign e
316、xchange hedging.Exchange rate fluctuationsduring the reporting period did not have a significant adverse impact on the CompanyThe 2024 Annual Report of Hangcha Group Co.,Ltd.48/314Source of funds for investment in derivativesSelf-owned fundsPosition risk analysis and control measures forderivatives
317、during the reporting period(includingbut not limited to market risk,liquidity risk,creditrisk,operational risk,legal risk,etc.)Changes in the market prices or the fair values ofthe invested derivatives during the reportingperiod,theanalysisofthefairvaluesofderivatives shall disclose the specific met
318、hod usedand the setting of relevant assumptions andparametersWhether it is involved in litigation(if applicable)Date of announcement of the Board Meeting toapprove investment in derivatives(if any)DateofannouncementoftheShareholdersMeeting to approve investment in derivatives(ifany)The 2024 Annual R
319、eport of Hangcha Group Co.,Ltd.49/314b.Investment in derivatives for speculative purposes during the reporting period Applicable Not applicableOther notes:None(4).Details on progress of major asset restructuring and integration during the reporting period Applicable Not applicable6.Significant Asset
320、 and Equity Sales Applicable Not applicable7.Analysis of Major Companies with Controlling or Minor Interests Applicable Not applicableUnit:RMB 10,000Currency:RMBCompany nameRegisteredcapitalEquity held by theCompany(%)Total assets as ofthe end of 2024Net profit for2024HangzhouForklift Frame5040.0065
321、.0065362.463103.54HangzhouForklift&MetalWorking&Welding4000.0071.3734086.092397.51HangchaBridgeBox3000.0062.3321125.362088.58Jinan Hangcha1275.0035.003948.34635.54GuangzhouZhehang1100.0034.094452.31298.02ShanghaiHangcha1300.0035.0010882.18696.69HangchaImp.&Exp.2070.0051.07221927.322692.68Hangcha Cas
322、ting4500.0077.7810640.71414.21Hangcha ElectricAppliance2000.0065.3536311.962416.18Zhongce Haichao350000.0027.85714688575.40317343.218.Structured Entities Controlled by the Company Applicable Not applicableVI.Discussions and Analyses of the Companys Future Development1.Industry Landscape and Trends A
323、pplicable Not applicablea.Industry competition landscape2024 witnessed dramatic changes in the global political and economic context.The world economyslowed down amidst differentiation,with intensifying pressures of a downward trajectory.Global marketdemand declined.However,the Chinese industrial ve
324、hicle industry once again demonstrated strongThe 2024 Annual Report of Hangcha Group Co.,Ltd.50/314resilience in withstanding market shocks and challenges.The industrys annual production and salesvolumes remained above one million units,continuing to lead the global market.The industry forgedahead w
325、ith accelerating paces of high-end,digital,and green development.While experiencing rapiddevelopment,enterprises have yet to enhance their innovation awareness and technological level in theindustry.Their quality managementand service awareness also needs further strengthening.Homogenization and low
326、-price competition persist,highlighting the increasing importance ofenterprises comprehensive competitive advantages.Single-dimensional advantages are no longersufficient to support the long-term development of enterprises,and the entire industry chain requiresimprovement and collaboration.As a resu
327、lt,under the current highly competitive forklift market,industry-leading enterprises with significant advantages in branding,scale,R&D,technology,channels,quality,and service will gain greater competitive advantages.The economy of scale is becomingincreasingly apparent,and industry concentration is
328、rapidly intensifying,with the market graduallyconcentrating towards large-scale,strong enterprises.With the rapid development of industry leaders,the global competitiveness of Chinese industrial vehicle enterprises continues to improve,their globalmarket share gradually expands,and their market infl
329、uence continues to strengthen.b.Industry trendsA new round of technological and industrial revolutions is burgeoning globally.The deep integration ofdigitalization,new energy,and intelligent manufacturing with industrial activities is injecting diversegrowth momentum into the industrial vehicle indu
330、stry,including new technologies,models,businessformats,and platforms.Digitalization,electrification,and internationalization are becoming major trendsin the industrial vehicle industry,while the application scenarios of industrial vehicles becomingincreasingly broad.Countries around the world are co
331、ntinuously strengthening environmental protectionrequirements;China keeps implementing the national strategy for carbon peaking and neutralization andsupply-side structural reforms;industry emission standards are gradually being upgraded;the productstructure of industrial vehicles is continuously op
332、timized;the sales volume of forklifts with traditionalinternal combustion engines are expected to gradually decrease;the trend towards new energy,intelligence,segmentation,and scenario-specific products is becoming more pronounced;technologicalinnovation is leading the aggregation of production fact
333、ors towards the high end;the ratio in forkliftsusing fuels to those using electric power is also undergoing positive changes.In 2024,the sales volumeof electric industrial vehicles accounted for 73.61%,and the proportion of electric industrial vehicleswill continue to increase in China.The expansion in the sales of new energy industrial vehicles,warehouse vehicles,intelligent industrial vehicles a
0731-84720580
sgpjbg002
工作日 9:30 - 18:00
研報
新質生產力
DeepSeek?
低空經濟
大模型
AI Agent
AI Infra
具身智能
自動駕駛
寵物
銀發經濟
人形機器人
企業出海
算力
微短劇
薪酬
白皮書
創新藥
人工智能
AI產業
信息科技
互聯網
消費經濟
汽車交通
電商零售
傳媒娛樂
醫藥健康
投資金融
能源環境
地產建筑
傳統產業
英文報告
其它
最新報告
中英對照
全文搜索
報告精選
PDF上傳翻譯
多格式文檔互轉
入駐&報告售賣
會員權益
機構報告
券商研報
財報庫
專題合集
英文報告
數據圖表
會議報告
其他資源
行業聚焦
芯片產業
熱點概念
全球咨詢智庫
人工智能
500強
新質生產力
會議峰會
新能源汽車
企業年報
互聯網
公司研究
行業綜觀
消費教育
科技通信
醫藥健康
人力資源
投資金融
汽車產業
物流地產
電子商務
傳統產業
傳媒營銷
其它
2025低空經濟/低空產業報告合集（共49套打包）
2025年智算中心/AIDC/AI數據中心研究報告合集（共37套打包）
AI、科技與通信
廣告、傳媒與營銷
消費、零售與支付
HR、文化與旅游
金融、保險與投資
能源、環境與工業
醫療制藥與大健康
物流、地產與建筑
其他行業
AI ? 科技 ? 通信
數字化
金融財經
智能制造
電商傳媒
地產建筑
醫療醫學
能源化工
其他行業
收藏
下載
2025-05-20
AI查數
行業數據
政策法規
商業模式
產業鏈
競爭格局
市場規模
產業概述
其它
2025年
AI讀財報
年報
一季報
半年報
三季報
IPO招股書
社會責任報告
A股
IPO申報
港股
美股&全球
新三板
掃碼登錄
手機快捷登錄
賬號登錄
