每经AI快讯，中联重科(01157.HK)午后一度涨超5%，截至发稿涨4.55%，报8.04港元，成交额7680.19万 港元。 （文章来源：每日经济新闻） ...

财信证券发布研报称，2025年挖掘机行业内外需同步增长，复苏态势稳固。国内方面，国家级超级工程 持续推进释放规模化、高端化需求，设备更新周期为内需提供支撑；海外方面，欧美基建与建筑市场复 苏，非洲矿业及基建需求旺盛，国产设备凭借竞争优势加速海外渗透。短期开工指标环比改善，长期增 长逻辑清晰，行业盈利质量有望提升。综合基本面积极变化与长期增长潜力，维持行业"领先大市"评 级。 消息面上，据中国工程机械工业协会，2025年11月销售各类挖掘机20027台，同比增长13.9%。其中国 内销量9842台，同比增长9.1%；出口量10185台，同比增长18.8%。 中联重科（000157）(01157)午后涨超5%，高见8.09港元，创近四年半新高。截至发稿，涨4.55%，报 8.04港元，成交额7680.19万港元。 ...

财信证券发布研报称，2025年挖掘机行业内外需同步增长，复苏态势稳固。国内方面，国家级超级工程 持续推进释放规模化、高端化需求，设备更新周期为内需提供支撑；海外方面，欧美基建与建筑市场复 苏，非洲矿业及基建需求旺盛，国产设备凭借竞争优势加速海外渗透。短期开工指标环比改善，长期增 长逻辑清晰，行业盈利质量有望提升。综合基本面积极变化与长期增长潜力，维持行业"领先大市"评 级。 智通财经APP获悉，中联重科(01157)午后涨超5%，高见8.09港元，创近四年半新高。截至发稿，涨 4.55%，报8.04港元，成交额7680.19万港元。 消息面上，据中国工程机械工业协会，2025年11月销售各类挖掘机20027台，同比增长13.9%。其中国 内销量9842台，同比增长9.1%；出口量10185台，同比增长18.8%。 ...

Core Viewpoint - The report from Shenwan Hongyuan indicates a positive trend in the excavator market, with a projected sales increase of 13.9% year-on-year in November 2025, totaling 20,027 units sold, including 9,842 units domestically and 10,185 units for export [1] Domestic Market - Domestic excavator sales are expected to approach 120,000 units this year, showing significant growth potential compared to 290,000 units sold in 2020 [2] - The domestic sales in November 2025 reached 9,842 units, marking a year-on-year increase of 9.11% [1] - For the period from January to November 2025, total excavator sales amounted to 212,162 units, reflecting a year-on-year growth of 16.7% [1] Export Market - November 2025 saw monthly excavator sales exceed 10,000 units, with annual exports projected to surpass 110,000 units, potentially setting a historical record [2] - The export volume in November 2025 was 10,185 units, representing an 18.8% year-on-year increase [1] Construction Activity - The average working hours for major construction machinery in November 2025 were 84.2 hours, showing a year-on-year decline of 13% but a month-on-month increase of 4.08% [3] - The working rate for major construction machinery was 56.5%, down 12.1 percentage points year-on-year but up 1.5 percentage points month-on-month, indicating a less optimistic construction intensity [3] Infrastructure Investment - Infrastructure investment in China from January to October 2025 saw a slight decline of 0.1% year-on-year, with specific sectors like pipeline transportation and water transportation showing growth [4] - Real estate fixed asset investment totaled 7.36 trillion yuan, down 14.7% year-on-year, with new construction area declining by 19.8% [4] - However, there are signs of recovery in construction demand, as indicated by an increase in the utilization rate of tower cranes [4] Global Market Outlook - According to Off-Highway Research, a 2% decline in global construction machinery is expected in 2025, followed by a return to growth in 2026 [5] - The overseas market is anticipated to expand, driven by mining and infrastructure demand, supported by a declining interest rate environment and high mineral prices [5] Investment Recommendations - The engineering machinery sector is viewed positively for 2026, with key manufacturers to watch including SANY Heavy Industry, XCMG, Zoomlion, LiuGong, and Shantui [6] - In the components segment, companies like Hengli Hydraulic, Aidi Precision, Fushite, and Weiman Sealing are highlighted as important players [6]

Market Overview - The Hong Kong stock market experienced a volatile trading day on December 9, with the Hang Seng Index closing down 1.29% at 25,434.23 points, the Hang Seng Tech Index down 1.90% at 5,554.68 points, and the National Enterprises Index down 1.62% at 8,936.41 points [1] - Technology stocks generally declined, with notable drops in Bilibili, Xiaomi, and Baidu, each falling over 3%, while Kuaishou and Meituan dropped over 2% [1] - Gold and non-ferrous metal stocks faced pressure, with Zijin Mining down over 4% [1] - Real estate stocks weakened significantly, with Yaloo Group plunging over 18% [1] - The semiconductor sector saw substantial declines, with Huahong Semiconductor down over 5% and SMIC down over 4% [1] - New consumption concept stocks also fell, with Pop Mart down over 5% [1] - Pharmaceutical stocks performed well, with Genscript Biotech rising 18%, Hongteng Precision up 11%, and Zhaoyan New Drug up 5.9% [1] Company News - Dongfeng Group reported cumulative sales of 1.697 million vehicles in the first 11 months, a slight decrease of approximately 0.3% year-on-year, while new energy vehicle sales reached 489,203 units, marking a 39.1% increase [2] - New天绿色能源 achieved a cumulative power generation of 13.3689 million MWh in the first 11 months, an increase of 8.04% year-on-year, with November's generation at 1.662 million MWh, up 24.45% [2] - Longyuan Power completed a cumulative power generation of approximately 69.0964 million MWh in the first 11 months, reflecting a year-on-year growth of 0.41% [2] - Greenland Hong Kong reported contract sales of approximately 6.823 billion yuan in the first 11 months, a decline of 22.6% year-on-year [3] - Sunny Optical Technology completed a share swap merger with GoerTek, with its subsidiary Ningbo Aolai holding approximately 31.31% of the shares, becoming the second-largest shareholder [3] - Zoomlion Heavy Industry completed the acquisition of 81% of the shares in Zoomlion Heavy Industry Finance Leasing (Beijing) [4] - Cambridge Technology plans to increase its investment in CIG USA by $100 million [5] - WuXi AppTec announced research data for JWCAR201 IIT at the 67th American Society of Hematology Annual Meeting [6] - Four Seasons Pharmaceutical's innovative drug Anjiuwei® was successfully renewed for inclusion in the 2025 National Basic Medical Insurance Drug List, while its innovative drug Xuanyue Ning® was included for the first time [6] - Yuan Da Pharmaceutical's Class 1 innovative drug GPN01360 successfully reached clinical endpoints in a Phase II clinical study conducted in China [7] - Agile Group's hearing has been further postponed to March 9, 2026 [8] Institutional Insights - Bank of China International views the recent market adjustment as a normal phenomenon in a bull market, maintaining a positive outlook for the Hong Kong stock market, predicting the Hang Seng Index could reach 30,100 points by December 2026 [9] - Huaxia Fund believes that the previous irrational panic in the tech sector has eased, and with AI development paths becoming clearer, it is advisable to position for a recovery in the market [9] - Everbright Securities notes that the Hang Seng Index's current P/E ratio is above its five-year average, indicating a reasonable valuation range, while the tech index has room for growth [9] - Guosen Securities suggests that the recent market adjustment opens up space for future growth, with significant net inflows from southbound funds into the Hong Kong market [10]

Market Overview - The US stock market experienced a collective decline, leading to a weak market sentiment in Hong Kong, with the Hang Seng Index down 0.84% to 25,549.90 points, the Hang Seng Tech Index down 1.32% to 5,587.69 points, and the National Enterprises Index down 1.12% to 8,981.84 points [1] Company News - Dongfeng Group reported cumulative sales of 1.697 million vehicles in the first 11 months, a year-on-year decrease of approximately 0.3%. New energy vehicle sales reached 489,203 units, marking a year-on-year increase of about 39.1% [2] - New天绿色能源 achieved a cumulative power generation of 13.3689 million MWh in the first 11 months, an increase of 8.04% year-on-year, with November's generation at 1.662 million MWh, up 24.45% year-on-year [2] - Longyuan Power completed a cumulative power generation of approximately 69.0964 million MWh in the first 11 months, reflecting a year-on-year growth of 0.41% [3] - Greenland Hong Kong reported contract sales of approximately 6.823 billion yuan in the first 11 months, a year-on-year decline of 22.6% [4] - Sunyu Optical Technology completed a share swap merger with Goer Optical, with its subsidiary Ningbo Aolai holding approximately 31.31% of the shares, becoming the second-largest shareholder [4] - Zoomlion Heavy Industry completed the acquisition of 81% equity in Zoomlion Heavy Industry Finance Leasing (Beijing) [5] - Cambridge Technology plans to increase its investment in CIG USA by $100 million [6] - WuXi AppTec announced research data for JWCAR201 IIT at the 67th American Society of Hematology Annual Meeting [7] - Four Seasons Pharmaceutical's innovative drug Anjiuwei® successfully renewed its inclusion in the 2025 National Basic Medical Insurance Drug List, while its innovative drug XuanYueNing® was included for the first time [7] - Yuanda Pharmaceutical's Class 1 innovative drug GPN01360 successfully reached clinical endpoints in Phase II clinical trials in China [8] - Agile Group's hearing has been further postponed to March 9, 2026 [9] Institutional Insights - Haitong International suggests that after market consolidation, a rebound is expected, with technology stocks having room for recovery. The rebound's strength will depend on policy implementation and potential interest rate cuts by the Federal Reserve [10] - Everbright Securities notes that the Hang Seng Index's current P/E ratio is above its 5-year average, indicating overall valuation recovery, while the tech index has just returned to its 5-year average, suggesting room for further valuation catch-up [10] - Guosen Securities predicts that the short-term adjustment in Hong Kong stocks opens up space for market growth in 2026, with net inflows from southbound funds exceeding 110 billion yuan in November [10]

登录新浪财经APP 搜索【信披】查看更多考评等级 二○二五年十二月九日 中联重科股份有限公司（以下简称"公司"或"中联重科"）于2025年5月20日召开第七届董事会2025年度 第二次临时会议、第七届监事会2025年度第二次临时会议，审议通过了《关于以公开摘牌方式购买北京 租赁股权暨关联交易的议案》，同意公司通过公开竞价摘牌方式分别购买湖南兴湘投资控股集团有限公 司（以下简称"兴湘集团"）、湖南迪策投资有限公司（以下简称"迪策投资"）挂牌转让的中联重科融资 租赁（北京）有限公司（以下简称"北京租赁公司"）45%、36%股权，挂牌转让底价分别为90,405.01万 元、72,324.01万元。根据公司董事会的授权，公司向湖南省联合产权交易所（以下简称"湖南联交所"） 提交了兴湘集团、迪策投资分别所持北京租赁公司45%、36%股权的摘牌申请。2025年5月28日，公司 与兴湘集团签署《产权交易合同》，股权转让价款为90,405.01万元。2025年6月4日，公司与迪策投资签 署《产权交易合同》，股权转让价款为72,324.01万元。详细内容见本公司于2025年5月21日、2025年5月 29日以及2025年6月5 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 ■ 中联重科股份有限公司 关于以公开摘牌方式购买北京租赁股权暨关联交易的进展公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚假记载、误导性陈述或重大遗 漏。 一、交易概述 中联重科股份有限公司（以下简称"公司"或"中联重科"）于2025年5月20日召开第七届董事会2025年度 第二次临时会议、第七届监事会2025年度第二次临时会议，审议通过了《关于以公开摘牌方式购买北京 租赁股权暨关联交易的议案》，同意公司通过公开竞价摘牌方式分别购买湖南兴湘投资控股集团有限公 司（以下简称"兴湘集团"）、湖南迪策投资有限公司（以下简称"迪策投资"）挂牌转让的中联重科融资 租赁（北京）有限公司（以下简称"北京租赁公司"）45%、36%股权，挂牌转让底价分别为90,405.01万 元、72,324.01万元。根据公司董事会的授权，公司向湖南省联合产权交易所（以下简称"湖南联交所"） 提交了兴湘集团、迪策投资分别所持北京租赁公司45%、36%股权的摘牌申请。2025年5月28日，公司 与兴湘集团签署《产权交易合同》，股权转让价款为90,405.01万元。202 ...

本文源自：财华网 【财华社讯】中联重科(01157.HK)公布，关于收购中联重科融资租赁(北京)有限公司注册股本总共 81%。董事会宣布，收购事项已获得北京市地方金融管理局的批准，目标公司已于2025年12月5日完成 了本次股权转让的工商变更登记事宜。自完成上述变更登记之后，目标公司成为公司的全资附属公司， 其业绩也将合并入公司的财务报表。 ...

格隆汇12月8日丨中联重科(01157.HK)发布公告，关于收购中联重科融资租赁(北京)有限公司注册股本总 共81%的公告，收购事项已获得北京市地方金融管理局的批准，目标公司已于2025年12月5日完成了本 次股权转让的工商变更登记事宜。自完成上述变更登记之后，目标公司成为公司的全资附属公司，其业 绩也将合并入公司的财务报表。 ...