Core Insights - The company reported a revenue of 37.156 billion yuan for the first three quarters of 2025, representing a year-on-year growth of 8.06% [1] - The net profit attributable to shareholders reached 3.92 billion yuan, showing a year-on-year increase of 24.89% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 2.644 billion yuan, reflecting a year-on-year growth of 20.69% [1]

Core Viewpoint - Zhonglian Heavy Industry Co., Ltd. (hereinafter referred to as "the company") demonstrated robust growth in key performance indicators in its Q3 2025 report, reflecting a high-quality and stable development trend. The company plans to issue up to 6 billion HKD in convertible bonds in the Hong Kong market to support R&D innovation and overseas expansion, indicating confidence in future performance and stock price growth with a high conversion premium rate of 35% [1][5]. Financial Performance - For the first three quarters, the company achieved operating revenue of 37.156 billion CNY, a year-on-year increase of 8.06% - The net profit attributable to shareholders reached 3.920 billion CNY, up 24.89% year-on-year, while the net profit excluding non-recurring items was 2.644 billion CNY, growing by 20.69% - The net cash flow from operating activities was 2.866 billion CNY, reflecting a significant increase of 137.31% [1]. Overseas Market Growth - The company has effectively implemented its "end-to-end, digitalization, localization" strategy, with overseas revenue reaching 21.313 billion CNY, accounting for 57.36% of total revenue, a year-on-year increase of 20.80% - The growth rate in the third quarter further accelerated to 34.01% - The company is expanding its manufacturing bases in Europe, with local supply chains taking shape [2]. Emerging Industries Development - Emerging sectors such as earthmoving machinery, mining machinery, agricultural machinery, and aerial work machinery are experiencing robust growth - The company leads the domestic market in large-scale mining excavators and is enhancing its product matrix with high-end offerings - The company has developed a comprehensive solution for smart mining, integrating various technologies [3]. Technological Infrastructure - The company possesses a top-tier supercomputing center with a GPU computing power of 59P, supporting extensive server and cloud capabilities - This infrastructure positions the company to benefit from advancements in humanoid robotics, fostering a "third growth curve" [4]. Convertible Bond Issuance - The company plans to issue up to 6 billion HKD in convertible bonds in the Hong Kong market, which will support its business and enhance its capital strategy - The high conversion premium rate of 35% reflects the company's confidence in future growth, and the bond issuance is expected to improve liquidity and international investor representation [5].

Core Insights - The company reported a revenue of 12,301,026,088.02 yuan for the third quarter of 2025, representing a year-on-year growth of 24.88% [2] - The net profit attributable to shareholders for the same period was 1,155,589,121.71 yuan, showing a year-on-year increase of 35.80% [2] Financial Performance - Revenue for Q3 2025: 12.30 billion yuan, up 24.88% year-on-year [2] - Net profit for Q3 2025: 1.16 billion yuan, up 35.80% year-on-year [2]

Core Viewpoint - Zoomlion Heavy Industry Science and Technology Co., Ltd. plans to issue convertible bonds worth up to RMB 6 billion, convertible into H-shares, pending shareholder approval [1] Group 1 - The company’s board has resolved to issue convertible bonds with a principal amount not exceeding RMB 6 billion [1] - The bonds will be convertible into the company's H-shares, which have a par value of RMB 1 per share [1] - The issuance is subject to approval at an extraordinary general meeting and a class shareholder meeting [1]

Core Viewpoint - Zoomlion Heavy Industry Science and Technology Co., Ltd. plans to issue convertible bonds worth up to RMB 6 billion, convertible into H-shares, subject to shareholder approval [1] Group 1: Company Actions - The company’s board has resolved to issue convertible bonds with a principal amount not exceeding RMB 6 billion [1] - The bonds will be convertible into the company's H-shares, which have a par value of RMB 1 each [1] - The issuance is contingent upon obtaining special authorization from shareholders at an extraordinary general meeting and class meetings [1]

Core Insights - The company reported comprehensive growth in key indicators such as operating revenue, net profit, and operating cash flow for the third quarter of 2025, indicating a robust and high-quality development trend [1] - The company plans to issue up to 6 billion HKD in convertible bonds in the Hong Kong market, with all funds allocated to R&D innovation and overseas system construction, reflecting confidence in future performance and stock price growth [1][7] Financial Performance - For the first three quarters, the company achieved operating revenue of 37.156 billion CNY, a year-on-year increase of 8.06% [1] - In the third quarter alone, the company recorded operating revenue of 12.301 billion CNY, representing a significant year-on-year growth of 24.88% [1] Overseas Market Growth - The company has seen significant success in its overseas market strategy, with foreign revenue reaching 21.313 billion CNY, accounting for 57.36% of total revenue, and a year-on-year increase of 20.80% [3] - The growth rate for overseas revenue further accelerated to 34.01% in the third quarter [3] Domestic Market Recovery - The domestic market is showing signs of recovery, with demand shifting from excavators to traditional sectors such as cranes and concrete machinery [3] - The company maintains the top market share in crawler cranes, with high-demand for high-value products like super-large all-terrain cranes [3] Emerging Industry Growth - Various sectors such as earthmoving machinery, mining machinery, agricultural machinery, and aerial work machinery are experiencing robust growth, with earthmoving machinery revenue projected to increase 8.6 times from 2019 to 2024 [5] - The company is also expanding into the humanoid robot industry, leveraging its technological expertise in industrial internet, AI, IoT, and robotics [5] Convertible Bond Issuance - The proposed issuance of up to 6 billion HKD in convertible bonds aims to strengthen R&D and overseas market systems, supporting the company's transition from a cyclical to a value growth model [7] - The high conversion premium rate of 35% indicates the company's confidence in future growth, and the bond issuance is expected to enhance the company's international investor profile [7]

Core Viewpoint - Zoomlion Heavy Industry Science and Technology Co., Ltd. plans to issue convertible bonds worth up to RMB 6 billion (approximately HKD 6.58 billion) to enhance its capital structure and support future growth initiatives [1][2]. Group 1: Bond Issuance - The company’s board has resolved to issue convertible bonds with a principal amount not exceeding RMB 60 billion [1]. - The bonds can be converted into H-shares with a par value of RMB 1 each [1]. - The issuance is subject to approval at an extraordinary general meeting and class shareholder meetings [1]. Group 2: Financial Performance - In the third quarter, Zoomlion reported a net profit of approximately RMB 1.156 billion, representing a year-on-year increase of 35.8% [2].

香港交易及結算所有限公司及香港聯合交易所有限公司（「香港聯交所」）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任何責任。 本公告僅供參考，在美利堅合眾國（「美國」）或在未依當地證券法登記或合資格前提出有關的要 約、邀約或出售即屬違法的任何其他司法管轄區，本公告並不構成出售或購買任何證券的要約 或邀約。 本公告不構成或形成在美國提出購買或認購證券的要約或邀約的一部分。建議發行的可換股債 券（定義見下）沒有、也不會根據《1933年美國證券法》（經修訂）或美國任何州或其他司法管轄 區的證券法進行登記，除某些例外情況外，不得在美國境內發售或出售。 Zoomlion Heavy Industry Science and Technology Co., Ltd.* 中聯重科股份有限公司 （股份代號：1157） 建議根據特別授權發行可換股債券 於2025年10月30日，中聯重科股份有限公司（「本公司」）董事會（「董事會」及董 事稱為「董事」）決議根據特別授權有條件發行本金不超過人民幣60億元（相當於 約6,576,92 ...

Core Viewpoint - Zoomlion is a leading global manufacturer in the engineering machinery sector, with a strong focus on research, development, manufacturing, sales, and service of engineering and agricultural machinery [1] Financial Performance - In Q3 2025, Zoomlion achieved a revenue of 37.156 billion yuan, ranking third among 23 companies in the industry, with the top two being XCMG at 78.157 billion yuan and SANY at 65.741 billion yuan [2] - The net profit for the same period was 4.105 billion yuan, also ranking third, with SANY leading at 7.239 billion yuan and XCMG at 6.083 billion yuan [2] Profitability and Debt Ratios - As of Q3 2025, Zoomlion's debt-to-asset ratio was 53.80%, slightly up from 53.25% year-on-year, which is higher than the industry average of 44.93% [3] - The gross profit margin for Q3 2025 was 28.10%, down from 28.37% year-on-year, but still above the industry average of 25.31% [3] Shareholder Information - As of July 20, 2021, the number of A-share shareholders increased by 5.62% to 342,600, while the average number of circulating A-shares held per shareholder decreased by 5.21% to 19,100 [5] - As of September 30, 2025, major shareholders included China Securities Finance Corporation with 233 million shares and Hong Kong Central Clearing Limited with 202 million shares, the latter having increased by 19.734 million shares [5] Business Expansion and Future Outlook - Zoomlion has established a mining machinery company in Xiangtan, focusing on "green, large-scale, and intelligent" product development, with domestic mining machinery business growing against the trend and overseas business increasing by over 29% [5] - The company showcased five humanoid robots and aims for a net profit of 4.9 billion, 6.2 billion, and 7.4 billion yuan from 2025 to 2027, representing year-on-year growth of 40%, 25%, and 20% respectively [5] Analyst Ratings - According to GF Securities, Zoomlion is considered a post-cycle stock with a three-year CAGR of 62% in overseas revenue, and it is viewed as an undervalued high-dividend stock [6] - The projected net profits for 2025 to 2027 are 4.8 billion, 6.3 billion, and 8 billion yuan, with a target PE of 14x for 2026, suggesting a reasonable A-share value of 10.22 yuan per share [6]

Core Viewpoint - Zoomlion released its third-quarter report, showing positive growth in both revenue and net profit [1] Financial Performance - The company's revenue for the first three quarters reached 37,155,658,072.99 yuan, representing a year-on-year increase of 8.06% [1] - The net profit attributable to shareholders of the listed company was 3,920,367,724.61 yuan, reflecting a year-on-year increase of 24.89% [1]