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。 中聯重科股份有限公司 * 僅供識別 （於中華人民共和國註冊成立的股份有限公司） 承董事會命 中聯重科股份有限公司 董事長 詹純新 長沙，2025年8月18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。 Zoomlion Heavy Industry Science and Technology Co., Ltd.* 董事會議通告 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8月 29日（星期五）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6月30日止六個月的中期業績及其刊發。 （股份代號：1157） ...

金融界消息 截至2025年8月15日收盘，中联重科（000157）报收于7.5元，上涨1.08%，换手率0.68%， 成交量48.31万手，成交金额3.61亿元。 资金流向方面，今日主力资金净流入2958.56万元，占比成交额8.2%。其中，超大单净流入844.80万 元、占成交额2.34%，大单净流入2113.77万元、占成交额5.86%，中单净流出流出2103.43万元、占成交 额5.83%，小单净流出855.13万元、占成交额2.37%。 中联重科最新一期业绩显示，截至2025一季报，公司营业总收入121.17亿元、同比增长2.92%，归属净 利润14.10亿元，同比增长53.98%，扣非净利润8.74亿元，同比增长12.40%，流动比率1.735、速动比率 1.220、资产负债率53.08%。 天眼查商业履历信息显示，中联重科股份有限公司，成立于1999年，位于长沙市，是一家以从事汽车制 造业为主的企业。企业注册资本867799.2236万人民币，实缴资本517956.6668万人民币。公司法定代表 人为詹纯新。 通过天眼查大数据分析，中联重科股份有限公司共对外投资了104家企业，参与招投标项目500 ...

长沙晚报掌上长沙8月15日讯（全媒体记者 周斌）日前，在内蒙古某大型矿山，数百台中联重科露天矿 山高端装备组成钢铁方阵，气势如虹完成批量交付。这也是今年以来，中联重科在国内露天矿山高端装 备领域不断取得突破，频频斩获市场大单，在重点区域市占率节节攀升的又一个例子。 矿山机械作为中联重科最重要的战略新兴板块之一，露天采矿全工序成套高端装备已覆盖"钻、挖、 装、运、破、排"全作业流程，并持续推进"大型化、智能化、绿色化"发展路径及智慧矿山的应用落 地。中联重科矿山机械正打造行业领先的极致产品和服务，全力护航国家能源安全，引领全产业链高质 量发展，以绿色、智造共建美丽矿山！ 【作者：周斌】 【编辑：黄丽心】 长沙晚报社版权声明 关键词：长沙园区 新质生产力 >>我要举报 此次交付源于该客户再次购买中联重科矿山机械产品。谈起复购的缘由，客户不禁竖起大拇指，对公司 的产品和服务赞不绝口："复购一方面是基于中联重科产品卓越的使用体验，另一方面，配套的全生命 周期服务也让我们非常满意。" 作为长沙工程机械龙头的中联重科，其矿山机械的硬核实力在此次批量交付的产品中展露无遗：荣 获"2025工程机械年度产品TOP50奖"、有着 ...

Group 1 - The core viewpoint of the news is that Zhonglian Heavy Industry (000157) has shown a slight decline in stock price and a mixed performance in capital flow, while its latest quarterly earnings report indicates a growth in revenue and net profit [1][3]. - As of August 14, 2025, Zhonglian Heavy Industry's stock closed at 7.42 yuan, down 0.93%, with a turnover rate of 0.83% and a trading volume of 589,900 hands, amounting to 441 million yuan [1]. - The company experienced a net outflow of main funds amounting to 33.05 million yuan, which represents 7.5% of the total transaction amount, with significant outflows from large orders [1]. Group 2 - In the latest quarterly report, Zhonglian Heavy Industry reported total operating revenue of 12.117 billion yuan, a year-on-year increase of 2.92%, and a net profit attributable to shareholders of 1.410 billion yuan, reflecting a year-on-year growth of 53.98% [1]. - The company has a current ratio of 1.735, a quick ratio of 1.220, and a debt-to-asset ratio of 53.08% [1]. - Zhonglian Heavy Industry was established in 1999 and is primarily engaged in the automotive manufacturing industry, with a registered capital of approximately 8.678 billion yuan [1]. Group 3 - According to data analysis, Zhonglian Heavy Industry has made investments in 104 companies and participated in 5,000 bidding projects [2]. - The company holds 1,181 trademark registrations and 5,000 patent registrations, along with 673 administrative licenses [2].

东方证券研报指出，工程机械景气度有望延续，看好中联重科业绩增长。首先从国内看，国家持续推进 大型基建项目（如雅下等大型水力工程），将会持续拉动国内的工程机械需求；第二，受益于新能源发 展和国内"以旧换新"政策推动，工程机械也开始进入电动化升级阶段，将拉动设备更新；第三，受"一 带一路"国家基建投资拉动，国产品牌出海加速，将继续拉动工程机械出口。我们看好工程机械的景气 度延续，并为工程机械企业带来发展机遇。认为工程机械的景气度有望延续，而中联重科的传统拳头产 品的景气度有望上升，新兴产品竞争力加强、保持快速增长。参考可比公司估值，给予2025年的16倍 PE，对应目标价为9.12元，维持"买入"评级。 ...

Core Insights - In 2024, China's industrial robot market is projected to reach 302,000 units, maintaining its position as the largest industrial robot market globally for 12 consecutive years [1] - Industrial robots are now utilized across 71 major industries and 236 sub-industries in the national economy, with China's manufacturing robot density ranking third globally [1] Group 1: Types of Industrial Robots - The industrial robots in China can be categorized into three types: localized programmable robots, adaptive robots with perception and decision-making capabilities, and embodied intelligent humanoid robots [1][6] - The earliest and most enduring type is the programmable robot, primarily in the form of industrial robotic arms, which require environmental adaptation [3] - Adaptive robots have gained prominence since the 21st century, capable of interacting with their environment [6] Group 2: Technological Advancements - The 2025 World Robot Conference showcased over 1,500 exhibits from more than 200 domestic and international robot companies, highlighting new technologies and applications in industrial robots [1] - The mechanical arm remains the most widely used industrial robot, known for its programmable, automated, and multi-degree-of-freedom structure, applicable in various industrial sectors [3] - Advanced systems like the flexible welding system from Yaskawa Shougang utilize 2D and 3D vision technologies to enhance operational efficiency and reduce the need for manual intervention [5][9] Group 3: Applications and Efficiency - The vacuum suction robot from Estun can stack 8-12 boxes in one minute, demonstrating efficiency in logistics and warehousing [4] - AI-powered visual inspection systems developed by Yaskawa Shougang can detect multiple features on automotive components with over 99.5% accuracy, significantly improving inspection efficiency [8][9] - The use of over 2,000 adaptive robots in Zoomlion's smart industrial city allows for flexible production, enabling rapid switching between different product models [10] Group 4: Future Trends and Challenges - The global installed base of industrial robots has increased sevenfold from 2009 to 2024, indicating a strong growth trajectory in industrial applications [11] - Experts at the 2025 World Robot Conference emphasized the need for continuous iteration of industrial robots, particularly in the realm of AI integration [11][12] - Future trends in the robotics industry include advancements in AI, embodied robots, sustainability, new customer demographics, and addressing labor shortages [13]

Core Insights - In 2024, China's industrial robot market reached a sales volume of 302,000 units, maintaining its position as the largest industrial robot market globally for 12 consecutive years [3] - Industrial robots are now applied across 71 major industries and 236 sub-industries in the national economy, with the density of robots in manufacturing rising to the third highest globally [3] - The 2025 World Robot Conference showcased over 1,500 exhibits from more than 200 domestic and international robot companies, highlighting new technologies and applications in industrial robots [3][4] Group 1: Industrial Robot Types and Applications - Industrial robots can be categorized into three main types: programmable robots, adaptive robots with perception and decision-making capabilities, and humanoid robots with embodied intelligence [3] - The most widely used industrial robots in manufacturing are mechanical arms, which are characterized by their programmable, automated, and multi-degree-of-freedom structures [5] - In logistics and warehousing, customizable mechanical arms are capable of efficiently handling and stacking goods, demonstrating high adaptability to various tasks [6] Group 2: Technological Advancements - The development of adaptive robots has been accelerated by advancements in computer vision and sensor technology, allowing robots to navigate complex environments and perform specific tasks autonomously [8] - AI-powered industrial cleaning robots are being deployed in various factories, utilizing AI vision systems to adapt cleaning strategies based on the type of dirt detected [9][10] - The integration of AI technology in industrial robots has significantly improved inspection efficiency and accuracy, with some systems achieving over 99.5% accuracy in detecting defects [10] Group 3: Future Trends and Challenges - The global installed base of industrial robots has increased sevenfold from 2009 to 2024, indicating a strong growth trajectory in industrial applications [12] - Experts emphasize the need for continuous iteration of industrial robots to expand their application scenarios beyond current limitations [12] - The future of industrial robots is expected to be shaped by trends such as artificial intelligence, embodied robots, sustainability demands, new customer segments, and addressing labor shortages [14]

Core Insights - In 2024, China's industrial robot market reached a sales volume of 302,000 units, maintaining its position as the largest industrial robot market globally for 12 consecutive years [2] - Industrial robots are now applied across 71 major industries and 236 sub-industries in the national economy, with the density of robots in manufacturing rising to the third highest globally [2] - The 2025 World Robot Conference showcased over 1,500 exhibits from more than 200 domestic and international robot companies, highlighting new technologies and applications in industrial robots [2][3] Group 1: Industrial Robot Types and Applications - Industrial robots can be categorized into three main types: programmable robots, adaptive robots with perception and decision-making capabilities, and humanoid robots with embodied intelligence [2] - The most widely used industrial robots in manufacturing are mechanical arms, which are characterized by their programmable, automated, and multi-degree-of-freedom structures [4] - In logistics and warehousing, customizable mechanical arms are capable of efficiently handling and stacking goods, demonstrating high adaptability to various tasks [5] Group 2: Technological Advancements - The development of adaptive robots has been accelerated by advancements in computer vision and sensor technology, allowing robots to navigate complex environments and perform specific tasks autonomously [7] - AI-powered industrial cleaning robots are being deployed across various factories, utilizing AI vision systems to adapt cleaning strategies based on the type of dirt detected [8][9] - The integration of AI in industrial robots enhances their efficiency and accuracy, as seen in the AI vision detection systems that can inspect components with over 99.5% accuracy [9] Group 3: Future Trends and Challenges - The global installed base of industrial robots has increased sevenfold from 2009 to 2024, indicating a strong growth trajectory in industrial applications [11] - Experts emphasize the need for continuous iteration of industrial robots, particularly in the realm of AI, to overcome current limitations and expand their application scenarios [11][12] - The future of industrial robots is expected to be shaped by trends such as artificial intelligence, embodied robots, sustainability demands, new customer segments, and addressing labor shortages [12]

Core Viewpoint - The report from Dongfang Securities indicates that the demand for construction machinery in China is stabilizing after a period of decline, and the industry outlook remains positive, particularly for Zoomlion's performance growth [1] Industry Summary - Domestic construction machinery demand is expected to continue due to ongoing large-scale infrastructure projects, such as major hydropower projects [1] - The development of new energy and the domestic "old-for-new" policy are driving the electrification upgrade of construction machinery, which will stimulate equipment renewal [1] - The investment in infrastructure by countries along the "Belt and Road" initiative is accelerating the export of domestic brands, further boosting construction machinery exports [1] Company Summary - Zoomlion's traditional flagship products are expected to see an increase in demand, while the competitiveness of its emerging products is strengthening, maintaining rapid growth [1] - Based on comparable company valuations, a target price of 9.12 yuan is set for 2025, with a price-to-earnings ratio of 16 times, maintaining a "buy" rating [1]

Investment Rating - The report maintains a "Buy" rating for the company [5] Core Views - The outlook for the engineering machinery sector is expected to continue positively, with the company's traditional flagship products anticipated to see an increase in demand, while emerging products are gaining competitiveness and maintaining rapid growth [3][17] - The company is projected to achieve a net profit attributable to shareholders of 4.89 billion, 5.58 billion, and 6.39 billion yuan for the years 2025, 2026, and 2027 respectively, with a target price of 9.12 yuan based on a 16x PE ratio for 2025 [3][17] Summary by Relevant Sections Industry Outlook - The demand for domestic engineering machinery is stabilizing after a period of decline, supported by ongoing large-scale infrastructure projects and the transition towards electric machinery driven by new energy policies [9][10] - The "Belt and Road" initiative is expected to further boost exports of domestic brands in the engineering machinery sector [10] Company Performance - The company's traditional products, including lifting and concrete machinery, are expected to see a gradual increase in demand as construction activities ramp up [9][14] - Emerging products such as earth-moving machinery, aerial work machinery, agricultural machinery, and mining machinery are experiencing rapid growth, with improved competitiveness and market share [15][17] Financial Projections - The company’s revenue is projected to grow from 47.075 billion yuan in 2023 to 67.358 billion yuan in 2027, with a compound annual growth rate (CAGR) of approximately 15.2% from 2025 to 2027 [4][19] - The gross profit margin is expected to improve from 27.1% in 2023 to 29.2% in 2027, indicating enhanced profitability [4][19]