Core Points - The major shareholder, Zoomlion Heavy Industry Science and Technology Co., Ltd., plans to reduce its stake in Taijia Co., Ltd. by a total of up to 7,552,126 shares, which represents 3% of the company's total share capital [1] Summary by Category - **Shareholder Actions** - Zoomlion intends to reduce its holdings through two methods: a maximum of 2,517,375 shares (1% of total shares) via centralized bidding and up to 5,034,751 shares (2% of total shares) through block trading [1]

格隆汇10月16日丨中联重科(01157.HK)公布，将于2025年10月30日(星期四)召开董事会，以考虑及批准 (其中包括)公司及其附属公司截至2025年9月30日止九个月的前三季度未经审核业绩。 ...

格隆汇10月16日丨中联重科(01157.HK)公布，将于2025年10月30日(星期四)召开董事会，以考虑及批准 (其中包括)公司及其附属公司截至2025年9月30日止九个月的前三季度未经审核业绩。 ...

Zoomlion Heavy Industry Science and Technology Co., Ltd.* 中聯重科股份有限公司 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告的全部或任何部份內容而產生或因 倚賴該等內容而引致的任何損失承擔責任。 （於中華人民共和國註冊成立的股份有限公司） （股份代號：1157） 持股計劃（第二期）－第二個鎖定期屆滿 茲提述中聯重科股份有限公司（「本公司」）於2023年9月11日發出的通函（「該通 函」）及本公司分別於2023年9月27日及2024年10月16日發出的公告（「該等公 告」）。除非另有界定，否則本公告所用詞彙與該通函及該等公告所界定者具有相 同涵義。 背景 2023年9月27日，持股計劃（第二期）於股東大會上獲股東批准，並獲本公司採 納。如該通函所述，持股計劃（第二期）持有的A股會分三批次鎖定和解鎖，具體 如下：(i)第一個鎖定期屆滿時，即自生效日起算12個月，解鎖40%，(ii)第二個 鎖定期屆滿時，即自生效日起算24個月，解鎖30%，以及(iii)第三個鎖定期屆 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並表明概不就因本公告全部或任何部分內容而產生或因倚賴該等 內容而引致的任何損失承擔任何責任。 Zoomlion Heavy Industry Science and Technology Co., Ltd.* 董事會會議通告 中聯重科股份有限公司（「本公司」）董事會（「董事會」）謹此公佈將於2025年10月 30日（星期四）召開董事會，以考慮及批准（其中包括）本公司及其附屬公司截至 2025年9月30日止九個月的前三季度未經審核業績。 承董事會命 中聯重科股份有限公司 董事長 詹純新 中聯重科股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：1157） 長沙，2025年10月16日 於本公告刊發日期，本公司執行董事為詹純新博士；非執行董事為賀柳先生及王 賢平先生；以及獨立非執行董事為張成虎先生、黃國濱先生、吳寶海先生及黃珺 女士。 * 僅供識別 ...

证券代码：000157 证券简称：中联重科 公告编号：2025－049 号 公司于 2023 年 8 月 30 日召开第七届董事会第二次会议及第七届监事 会第二次会议，并于 2023 年 9 月 27 日召开 2023 年度第二次临时股东大 会，会议审议通过了《中联重科股份有限公司第二期核心经营管理层持股 1 计划（草案）》《中联重科股份有限公司第二期核心经营管理层持股计划 管理规则》等与本持股计划相关的议案。具体内容详见公司于 2023 年 8 月 31 日、2023 年 9 月 28 日在巨潮资讯网（www.cninfo.com.cn）上披 露的相关公告。 根据《中联重科股份有限公司第二期核心经营管理层持股计划》（以 下简称"《第二期员工持股计划》"）的相关规定，本持股计划股票来源 为公司回购专用账户已回购的 A 股股份。2023 年 10 月 18 日，公司收到 中国证券登记结算有限责任公司深圳分公司出具的《证券过户登记确认书》， "中联重科股份有限公司回购专用证券账户"所持有的 423,956,766 股已 于 2023 年 10 月 17 日以非交易过户形式过户至"中联重科股份有限公司 －第二期核心 ...

（文章来源：每日经济新闻） 每经AI快讯，10月15日，港股中联重科(01157.HK)涨超5%，截至发稿，涨5.1%，报7.62港元，成交额 1.06亿港元。 ...

Core Viewpoint - Zhonglian Heavy Industry (000157)(01157) saw a stock increase of over 5%, currently at 7.62 HKD with a trading volume of 106 million HKD, indicating positive market sentiment towards the company and the industry as a whole [1] Industry Summary - According to the China Construction Machinery Industry Association, excavator sales are projected to reach 19,858 units by September 2025, representing a year-on-year growth of 25.4%. Domestic sales are expected to be 9,249 units, up 21.5%, while exports are forecasted at 10,609 units, reflecting a 29% increase [1] - Huatai Securities noted an upward trend in both domestic and international demand for excavators in September, suggesting a sustained recovery in the industry [1] - China Merchants Securities highlighted that the resonance of domestic and international demand is expected to enhance the performance elasticity of leading companies, with long-term growth driven by internationalization and lithium battery technology, thereby strengthening global competitiveness [1] - Zheshang Securities previously reported that Zhonglian Heavy Industry is considered an undervalued player in the humanoid robot sector, with accelerated industrialization of humanoid robots in factory operations [1] Company Summary - At the 2025 Internet Yuelu Conference held from September 14 to 16 in Changsha, Zhonglian Heavy Industry showcased its cloud-based intelligent models and toolchains, presenting five humanoid robots designed for various applications including reception, walking performances, logistics sorting, assembly, and daily life scenarios [1] - All key components of Zhonglian Heavy Industry's humanoid robots are independently developed, including planetary joint modules, cycloidal joint modules, linear joint modules, and key controllers, achieving complete control over core technologies [1]

消息面上，据中国工程机械工业协会对挖掘机主要制造企业统计，2025年9月销售各类挖掘机19858台， 同比增长25.4%。其中国内销量9249台，同比增长21.5%；出口量10609台，同比增长29%。华泰证券指 出，9月挖机内外景气度上行，看好行业持续复苏。招商证券表示，内外需共振逻辑β持续强化的背景 下，龙头企业业绩弹性有望持续释放，中长期凭借国际化、锂电化，全球竞争力α持续增强。坚定看好 工程机械β投资机会，板块有望迎来业绩与估值双重拔升， 浙商证券此前研报指出，中联重科为低估值人形机器人整机标的，人形机器人进厂作业加速产业化落 地。今年9月14日至16日，2025互联网岳麓大会在长沙举行，大会现场中联重科发布了云谷具身智能大 模型和工具链，共展示五款人形机器人，在迎宾、行走表演、物流分拣、装配、生活五大模拟场景应 用。现场中联重科所有人形机器人的关键零部件均是自主研发，包括行星关节模组、摆线关节模组、线 性关节模组、关键控制器等，实现核心技术完全自主可控。 智通财经APP获悉，中联重科(01157)涨超5%，截至发稿，涨5.1%，报7.62港元，成交额1.06亿港元。 ...

Summary of China Industrials Update Industry Overview - **China Industrials** is currently experiencing an upcycle driven by industrial upgrade and replacement cycles [6][6][6] - Key long-term drivers identified include: - AI technology diffusion into intelligent manufacturing and equipment - Advanced equipment localization - Global expansion [6][6][6] - The robotics sector is entering a new booming era, with significant growth anticipated [6][6][6] Subsector Insights - **Automation, Robotics, and AIDC Equipment**: - Rated as Overweight (OW) with key stocks including Inovance, Geekplus, Han's Laser, Shuanghuan, Hongfa, and Neway Valve [6][6][6] - **Construction Machinery**: - Rated as Overweight (OW) with key stocks including Sany, Hengli Hydraulic, and Zoomlion [6][6][6] - **Lithium Battery Equipment**: - Rated as Overweight (OW) with key stocks including Wuxi Lead and Hangke [6][6][6] - **Heavy Duty Trucks and Railway Equipment**: - Rated as Equal Weight (EW) with key stocks including Weichai, Sinotruck, and CRRC [6][6][6] - **Solar Equipment and Infrastructure E&C**: - Rated as Underweight (UW) with key stocks including SC New Energy and CSCEC [6][6][6] Market Performance - The automation market showed a mild recovery with a 1% year-on-year increase in sales for 1H25, indicating a less intense competitive environment compared to the previous year [28][28][28] - Anticipated recovery in 2026-27 driven by: - Replacement demand from equipment sold during the 2020-21 capex upcycle - New capex demand from AI applications - Continued benefits from overseas capacity expansion [28][28][28] Financial Metrics - **Return on Equity (ROE)**: Mixed trends observed across subsectors, with growth in ROE for lithium battery equipment, automation, and construction machinery, while solar equipment and E&C show eroding ROE [20][20][20] - **Sector P/E Multiples**: Most subsector valuations are above the five-year median, particularly in automation, solar equipment, and lithium battery equipment [13][13][13] Robotics Market Insights - The Chinese robotics market is expected to double by 2028, with significant growth in drones, mobile robots, and collaborative robots (cobots) [62][62][62] - Localization in robotics is increasing, with domestic players gaining market share [76][76][76] - The market for robot components is projected to reach a total addressable market (TAM) of US$40 billion by 2024, with a 23% CAGR anticipated from 2025 to 2028 [86][86][86] Conclusion - The China Industrials sector is poised for growth, driven by technological advancements and increasing localization. Key subsectors such as automation and robotics are expected to lead this growth, with significant investment opportunities identified in specific companies. The overall market dynamics suggest a favorable environment for both established players and new entrants in the industrial landscape [6][6][6][62][62][62]