智通财经APP获悉，第一拖拉机股份(00038)涨超4%，截至发稿，涨4.07%，报5.88港元，成交额4655.86万港元。
消息面上，第一拖拉机股份发布2025年第一季度业绩，该集团期内取得营业收入45.57亿元人民币，同比减少2.13%；归属于上市公司股东的净利润5.29亿元，同比减少11.66%。值得关注的是，根据公司公告，公司提请股东会给予董事会回购公司H股股份之一般性授权，其中回购股份总数不超过公司已发行H股总股本的10%，回购资金包括公司的自有资金和自筹资金，回购H股股份将予以注销，并相应减少注册资本。
国金证券指出，公司Q1收入利润略超预期，中型拖拉机产量企稳，需求乌云渐散。根据国家统计局，3月大/中/小拖产量分别为1.62/3.36/1.33万台，同比分别+5.5%/-1.7%/-18.8%；大拖产量占比25.7%，同比+2.7pct。3月最亮眼的数据是中拖企稳，这表明24年粮食价格下跌对于拖拉机需求的拖累已接近尾声，预计下游需求将在一段时间内保持稳定，相关公司的核心矛盾变成自身的经营周期。而公司收入、毛利率降幅企稳，或说明公司整体经营周期触底。
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