Core Viewpoint - The article discusses the recent board meeting of Taiyuan Heavy Industry Co., Ltd., where significant leadership changes and committee appointments were made, indicating a strategic shift within the company [2][3]. Group 1: Board Meeting Details - The first meeting of the 10th Board of Directors was held on May 6, 2025, and complied with legal and regulatory requirements [3]. - The board elected Mr. Tao Jiajin as the Chairman of the 10th Board of Directors with unanimous support (7 votes in favor) [3]. - Various specialized committee members were elected, including: - Strategic Committee: Tao Jiajin (Chair), Wang Shenglin, Qu Fuzheng - Audit and Risk Control Committee: Xi Wensheng (Chair), Zhao Wei, Ma Lingbing - Nomination Committee: Qu Fuzheng (Chair), Tao Jiajin, Xi Wensheng - Compensation and Assessment Committee: Zhao Wei (Chair), Xi Wensheng, Wang Fuming [3]. Group 2: Management Appointments - The board approved the appointment of senior management personnel: - Wang Shenglin as General Manager - Cheng Dongsheng as Deputy General Manager - Zhang Jianguo as Deputy General Manager - Duan Zhihong as Chief Financial Officer - Zhao Xiaoqiang as Board Secretary - All appointments received unanimous support (7 votes in favor) [3]. Group 3: Company Background - Taiyuan Heavy Industry Co., Ltd. was established in 1998, evolving from the first heavy machinery manufacturing enterprise in New China, founded in 1950 [6]. - The company specializes in various equipment and projects, including rail transit, wind power, mining, and engineering machinery, serving multiple industries such as metallurgy, energy, and transportation [6]. - It has provided over 30,000 sets of equipment for key national construction projects and is recognized as a major backbone enterprise in the country [6].

Core Viewpoint - Caterpillar is celebrating its centenary by focusing on customer innovation and industry transformation, emphasizing its commitment to providing high-quality products and services for a sustainable future [1]. Group 1: Celebration Activities - Caterpillar is hosting various celebration activities in China, marking its 50 years of development in the country [2]. - The "Flag Relay China" event symbolizes the company's values and future aspirations, with a theme flag being passed among factories [2]. - A commemorative high-speed train named after Caterpillar operates between Beijing and Shanghai, showcasing the company's centennial branding [2]. - A special issue of "China National Geography" magazine highlights significant projects involving Caterpillar equipment in China [2]. - The Global Operator Challenge is engaging hundreds of operators in China, with winners advancing to regional and global finals [2]. - Caterpillar is producing videos featuring 100 service stories from its dealers and 10 aftermarket customer stories to celebrate this milestone [2]. - Four live-streaming events will be held in China to trace Caterpillar's history and highlight its commitment to customer success [2]. - A customer experience day focused on financing will emphasize Caterpillar's dedication to customer satisfaction and service excellence [2]. Group 2: Company Presence in China - Caterpillar operates approximately 20 manufacturing plants, 2 R&D centers, and 2 logistics centers in China, employing over 12,000 local staff [3]. - The company collaborates with four major Cat dealers and around 700 suppliers in the region [3]. Group 3: Industry Insights - The engineering machinery industry is showing signs of recovery, with expectations for improved performance [4]. - The industry is transitioning to "National IV" standards starting December 1, indicating regulatory changes [4]. - Caterpillar is approaching a cyclical turning point, leading to a downgrade in its rating to "neutral" [4].

日前，徐工机械（000425.SZ）披露了2024年年报。其中，公司归母净利润同比增长12.2%至59.76亿元，毛利率、 净利率连续提升，经营性现金大幅增长，境外收入占比持续跃升，研发投入强度超过6%。 有观点认为，2024财年是徐工机械加快推进智改数转网联董事长"一号工程"施工图落地、支撑业绩增 长、能力提升的突破之年，也是平稳跨越新一轮周期、积聚高质量发展动能、势能之年。 01 归母净利润两位数增长 徐工机械年报数据显示，公司归母净利润59.76亿元、同比增长12.2%，扣非归母净利润57.62亿元、 同比增长28.14%，经营性现金流57.20亿元、同比增长60.18%，收入和归母净利润继续保持国内行业领先 地位。 毛利率方面，继2023年公司整体毛利率提升后，2024年公司的毛利率整体提升1.75个百分点至 22.55%，这是公司归母净利润增长的基石。毛利率连续提升的同时，公司销售净利率也连续提高，2024 年同比提高0.89个百分点至6.53%。 不仅如此，继去年取得良好业绩后，今年第一季度，徐工机械继续保持增长态势。相关数据显示，第 一季度公司实现营业收入268.15亿元、同比增长10.92%， ...

工程机械行业持续回暖，一季度三大龙头业绩均实现双增。 徐工机械营收最高，其实现营收268.15亿元，同比增长10.92%，净利润20.22亿元，同比增长26.37%。该公司预计，2025年全年营收将增超10%，而净利润、 现金流增速将超过营收增速。 中联重科净利润增速较快，其净利润同比增长53.98%至14.1亿元，营收为121.17亿元，同比增长2.92%。 从行业整体来看， 今年一季度工程机械行业景气度持续走高，挖掘机国内销量同比增近四成，出口量稳居高位。 据中国工程机械工业协会统计，2025年一 季度，挖掘机主要制造企业共销售挖掘机61372台，同比增长22.8%；其中国内销量36562台，同比增长38.3%；出口24810台，同比增长5.49%。 另外，据央视财经与三一重工、树根互联联合打造的"挖掘机指数"，今年一季度，全国工程机械平均开工率为44.67%，较去年同期增幅为1.62%，12个省份 平均开工率超过50%。 三一重工预计，2025年，国内工程机械市场持续向好，基建投资、新城镇化、矿山、水利工程等需求将进一步复苏，叠加超长期特别国债等政策的持续落 地，市场有望加速回暖。此外，新能源产品渗透率 ...

Core Viewpoint - The global engineering machinery industry is undergoing a significant transformation towards low-carbon and intelligent upgrades, driven by the "dual carbon" goals and the application of new technologies such as artificial intelligence and large models [1]. Group 1: Conference Overview - The 2025 New Energy Construction Machinery Conference will be held from June 17 to 19, 2025, in Yantai, focusing on "Green Transformation and Intelligent Upgrade" [1]. - The conference aims to gather global leaders in the engineering machinery industry to discuss policies, innovative technologies, market demands, and development trends related to new energy and digitalization [1]. Group 2: Conference Content - Key topics include the current status and trends of green intelligent products in engineering machinery, energy transition directions, typical application scenarios of green intelligent machinery, and the adaptation of core components to electric development [2]. - Discussions will also cover the transformation paths for traditional component suppliers and solutions for electrifying existing equipment [2]. Group 3: Conference Organization - The conference is organized by Tianjin Engineering Machinery Research Institute Co., Ltd., and hosted by Yantai Aidi Precision Machinery Co., Ltd., with support from the "Engineering Machinery" magazine [2]. Group 4: Conference Schedule - The schedule includes registration on June 17, the main conference on June 18, and a visit and exchange session on June 19 [2]. Group 5: Registration and Fees - Participants must register by May 30, 2025, and pay the conference fee to attend [3][4]. - Accommodation is self-arranged, with special rates available at the conference hotel [5].

Core Viewpoint - The domestic market for Shantui Co., Ltd. is expected to see significant growth in 2024, with excavator sales projected to increase by approximately 30%, bulldozer sales by about 20%, loader sales by around 20%, and road machinery sales by 15%-20% [1] Industry Trends - The engineering machinery industry is anticipated to grow by 15% in 2025, indicating a recovery in the sector [1] - The industry has experienced a continuous decline in domestic sales for 13 months, but exports have surged by over 70% this year, suggesting a potential rebound in the excavator sector [2] - Improvement in construction rates in February has led to optimistic expectations for the engineering machinery industry [4] Market Data - Sales data for excavators and loaders is being closely monitored for 2023 and 2024, with specific monthly breakdowns available for analysis [2][3] Downstream Demand - The operating hours of Komatsu machinery and the CCTV excavator index are being tracked to gauge market demand and activity levels [4] Expert Insights - Industry leaders are discussing the current development trends and the push for new energy solutions in engineering machinery and commercial vehicles [5]

03 会议内容 国家有关主管部门和组织，全球工程机械领域的制造商、"三电"等核心零部件供应商、终端用 户、经销商以及绿色智慧施工整体解决方案提供商等，共同探讨全球绿色转型、智能升级的共性关 键技术及产业发展方向。 当今全球正处于向低碳转型的重要历史时期，工程机械迎来了百年未有之大变革， 呈现出绿色转型和智能升级新趋势。 随着"双碳"目标的持续推进以及人工智能、大模型等新技术广泛应用，传统工程机 械正向动力源变革、智能化升级、数字化转型、网络化联接的方向发展。新能源工程机 械将促进产业转型升级、重塑市场格局、推动可持续发展。 2025"新能源工程机械大会" 以 "绿色转型 智能升级" 为主题，将于 2025年6月17 —19日在烟台 召开。本届会议将汇聚全球工程机械产业领导者，探讨新能源、数智化的 产业政策和创新技术，解析市场需求与发展趋势，协同产供链，推动新能源工程机械产 业高质量发展。 诚邀行业精英共襄盛会，交流思想、分享经验、凝聚共识、开创未来。 01 会议名称 2025新能源工程机械大会 2025 New Energy Construction Machinery Conference（NECMC 20 ...

2025年4月30日，湖南省新闻办公室召开新闻发布会，宣布第四届长沙国际工程机械展览会定于5月15日 至18日在长沙国际会展中心、长沙国际会议中心举办。 长沙市人民政府副市长康镇麟出席发布会并介绍展会筹备情况：本届展览会以"高端化、智能化、绿色化 ——新一代工程机械、应急装备、矿山装备、农业机械"为主题，预计吸引全球1650家参展企业、35家全球工 程机械50强品牌齐聚长沙，共同呈现一场国际化、市场化、 专业化、绿色化 的行业顶级盛会。 CICEE 亮点一：规模位居年度亚洲第一 全球顶尖企业云集 通过"展科融合"，首次设立"新技术新产品发布专区"，展会期间将举办系列高端产学研、 产业链对接大会，助力培育发展新质生产力。 而"展城融合"则通过全城联动的"机主嘉年华"，串联文旅消费、智能制造考察与科技体 验，策划文旅消费主题活动及考察线路，打造"全城办展"氛围，推动"展商变游客、展商变投资 商"，预计带动文旅消费突破2亿元，实现"硬核科技"与"烟火人间"的深度交融。 亮点三："四化升级"重塑行业标杆 CICEE 展会以"国际化、市场化、专业化、绿色化"为核心战略，引领全球工程机械产业变革。国 际化维度上，吸引60 ...

Core Viewpoint - Boleton, a domestic pure electric engineering machinery manufacturer, is launching an IPO with plans to issue 13 million shares at a price of 18 HKD per share, aiming to raise approximately 147.8 million HKD for technological advancements and manufacturing facilities [1][2]. Company Overview - Boleton specializes in designing and commercializing electric engineering machinery with autonomous operation capabilities, including electric loaders and dump trucks, and provides smart operation services [2]. - In 2024, Boleton ranked third and seventh among all new energy wide-body dump truck and loader manufacturers in China, with market shares of 18.3% and 3.8% respectively, being the only pure new energy engineering machinery manufacturer among the top players [2]. Financial Performance - Boleton's sales of electric wide-body dump trucks surged from 59 units in 2022 to 307 units in 2024, achieving a compound annual growth rate of 128.1% [2]. - The company's total revenue increased from 360 million RMB in 2022 to 635 million RMB in 2024, reflecting steady growth [2]. - Despite revenue growth, Boleton reported net losses of 178 million RMB, 229 million RMB, and 275 million RMB for 2022, 2023, and 2024 respectively, indicating an expanding trend in losses due to significant upfront investments in product development and market penetration strategies [2]. Investment and Valuation - Boleton has attracted interest from various investment firms and completed multiple funding rounds, achieving a valuation of 5.248 billion RMB after its C+ round in March 2023 [3].

近日，长城重工正式完成5.2亿元A轮融资。本轮融资由招商局集团及山东能源集团 两大世界500强集团 下属产业资本领投，中泰创投、济宁高新发展集团及张家港创投基金跟投。 长城重工 有限公司成立于2023年，是一家专注于新能源工程机械及智慧矿山无人驾驶解决方案的创新 型企业。依托母公司长城集团在纯电、混动、氢能及智能驾驶等领域强大的核心技术，公司自成立以来 快速发展，已构建起具有竞争力的产品与服务体系，赢得了市场的良好口碑。 本轮融资，长城重工聚焦产业资本，秉持互惠互利原则，积极引入央国企大客户作为战略股东，以资本 为纽带，强化业务合作，筑牢发展根基。 随着A轮融资的顺利收官，长城重工即将进入全新的发展阶段。未来，公司将继续秉持"绿色化、智能 化"的发展理念，致力于为客户创造更大价值，为股东带来丰厚回报，同时积极推动新能源工程机械领 域的创新发展。相信在产业资本的有力加持下，长城重工定能乘风破浪，书写新的辉煌篇章！ ·往期回顾· 【行业热点】 招商局集团是中央直接管理的国有重要骨干企业，2024年全年利润总额达2272亿元，资产总额达14.7万 亿元，在全球26个国家或地区投资布局46个港口，构建了庞大且极具影响 ...