股票代码：600815 股票简称：厦工股份 公告编号：2025-035 厦门厦工机械股份有限公司 第十届监事会第十三次会议决议公告 经会议审议、表决，本次监事会会议通过如下决议： 本公司监事会及全体监事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 一、监事会会议召开情况 厦门厦工机械股份有限公司（以下简称"公司"）第十届监事会于 2025 年 9 月 25 日向全体监事发出了第十三次会议通知，会议于 2025 年 9 月 29 日以现场结合通讯方式 召开。会议应出席监事 3 人，实际出席监事 3 人，会议由监事会主席孙利先生主持。本 次会议的通知、召集、召开及审议程序符合有关法律法规及《公司章程》的规定。 二、监事会会议审议情况 表决结果：同意 3 票，反对 0 票，弃权 0 票。 该议案尚需提交公司股东大会审议。 特此公告。 厦门厦工机械股份有限公司监事会 2025 年 9 月 30 日 1 （一）审议通过《关于取消监事会并废止<公司监事会议事规则>的议案》 具体内容详见公司同日披露的《厦门厦工机械股份有限公司关于取消监事会并修订 <公司章程> ...

股票代码：600815 股票简称：厦工股份 公告编号：2025-034 厦门厦工机械股份有限公司 第十届董事会第三十四次会议决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 一、董事会会议召开情况 厦门厦工机械股份有限公司（以下简称"公司"）第十届董事会于 2025 年 9 月 25 日以 电子邮件方式向全体董事、监事及高级管理人员发出第三十四次会议通知。会议于 2025 年 9 月 29 日以现场结合通讯方式召开。会议应出席董事 7 人，实际出席董事 7 人，全体监事 及高级管理人员列席会议，公司董事长金中权先生主持会议。本次会议的通知、召集、召 开及审议程序符合有关法律法规及《公司章程》的规定，合法有效。 二、董事会会议审议情况 经审议、表决，本次董事会会议通过如下决议： （一）审议通过《关于修订<公司章程>的议案》 具体内容详见公司同日披露的《厦门厦工机械股份有限公司关于取消监事会并修订< 公司章程>的公告》及《厦门厦工机械股份有限公司章程（审议稿）》。 表决结果：同意 7 票，反对 0 票，弃权 0 票。 该议 ...

证券代码：600815 证券简称：厦工股份 公告编号：2025-033 厦门厦工机械股份有限公司 关于召开 2025 年半年度业绩说明会的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 会议召开时间：2025 年 9 月 29 日（星期一）10:00-11:00 本次业绩说明会以网络文字互动形式召开，公司将针对 2025 年半年度的经营 成果及财务指标等情况与投资者进行互动交流和沟通，在信息披露允许的范围内就 投资者普遍关注的问题进行回答。 二、说明会召开的时间、方式 1.会议召开时间：2025 年 9 月 29 日（星期一）10:00-11:00 2.会议召开方式：上证路演中心网络文字互动 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络文字互动 投资者可于 2025 年 9 月 22 日（星期一）至 9 月 26 日（星期五）16:00 前登 录 上 证 路 演 ...

Market Performance - The engineering machinery sector increased by 2.81% on September 17, with Wantong Hydraulic leading the gains [1] - The Shanghai Composite Index closed at 3876.34, up 0.37%, while the Shenzhen Component Index closed at 13215.46, up 1.16% [1] Individual Stock Performance - Wantong Hydraulic (code: 830839) closed at 45.91, up 12.41% with a trading volume of 50,300 shares and a turnover of 221 million yuan [1] - Changling Hydraulic (code: 605389) closed at 53.37, up 10.00% with a trading volume of 27,100 shares [1] - Hangcha Group (code: 603298) closed at 28.85, up 8.09% with a trading volume of 180,100 shares and a turnover of 506 million yuan [1] - Zhonglian Heavy Industry (code: 000157) closed at 7.71, up 4.76% with a trading volume of 2,696,700 shares and a turnover of 2.043 billion yuan [1] Capital Flow Analysis - The engineering machinery sector saw a net inflow of 197 million yuan from institutional investors, while retail investors experienced a net outflow of 75.92 million yuan [2] - The main stocks with significant net inflows included Zhonglian Heavy Industry with 202 million yuan and Zhejiang Dingli with 89.57 million yuan [3] Summary of Stock Movements - The overall performance of the engineering machinery sector indicates a positive trend, with several key players showing substantial gains in both stock price and trading volume [1][2] - The capital flow data suggests a strong interest from institutional investors, contrasting with the outflows from retail investors, indicating a potential shift in market sentiment [2][3]

Market Overview - On September 15, the engineering machinery sector rose by 0.7% compared to the previous trading day, with Changling Hydraulic leading the gains [1] - The Shanghai Composite Index closed at 3860.5, down 0.26%, while the Shenzhen Component Index closed at 13005.77, up 0.63% [1] Stock Performance - Key stocks in the engineering machinery sector showed varied performance, with notable gainers including: - Changling Hydraulic: Closed at 47.46, up 6.27% with a trading volume of 65,800 shares and a turnover of 310 million yuan [1] - Tuoshan Heavy Industry: Closed at 40.61, up 5.59% with a trading volume of 49,600 shares and a turnover of 197 million yuan [1] - Weiman Sealing: Closed at 38.86, up 5.43% with a trading volume of 128,500 shares and a turnover of 490 million yuan [1] - Conversely, some stocks experienced declines, such as: - Hengli Drill Tools: Closed at 43.37, down 2.76% with a trading volume of 22,600 shares and a turnover of 97.64 million yuan [2] - Fushite: Closed at 27.84, down 2.73% with a trading volume of 24,700 shares and a turnover of 70.44 million yuan [2] Capital Flow - The engineering machinery sector saw a net outflow of 205 million yuan from main funds, while retail investors contributed a net inflow of 266 million yuan [2][3] - Specific stock capital flows indicated: - Liugong: Main funds net inflow of 64.71 million yuan, with retail funds net outflow of 28.77 million yuan [3] - Hengli Hydraulic: Main funds net inflow of 64.11 million yuan, with retail funds net outflow of 28.22 million yuan [3] - Zhonglian Heavy Industry: Main funds net inflow of 58.49 million yuan, with retail funds net outflow of 14.21 million yuan [3]

Investment Rating - The report maintains a "Positive" investment rating for the mechanical equipment industry [6]. Core Insights - The mechanical equipment industry experienced a year-on-year revenue growth of 7.64% in Q2 2025, with a narrowing growth rate compared to the previous quarter. Key segments with accelerated revenue growth include wind power equipment, PCB(A), shipbuilding, lithium battery equipment, and instruments [13][18]. - The industry saw a year-on-year increase in net profit excluding non-recurring items of 16.22% in Q2 2025, with wind power and lithium battery equipment showing accelerated growth. The shipbuilding sector led with a 106% year-on-year increase, although this was affected by a low base [18][31]. - The overall profitability of the mechanical equipment industry strengthened in Q2 2025, with notable performance in the shipbuilding, railway equipment, and oil and gas equipment sectors [31]. Summary by Sections Overall Mechanical Equipment Overview - The mechanical equipment industry reported a year-on-year revenue growth of 7.64% in Q2 2025, with revenue growth accelerating in specific segments [13]. - The net profit excluding non-recurring items grew by 16.22% year-on-year, with wind power and lithium battery equipment leading the growth [18]. - The industry’s net profit margin increased by 0.38 percentage points year-on-year in Q2 2025, indicating improved profitability across various segments [25]. Subsector Performance - The engineering machinery sector saw a revenue increase of 8.7% in H1 2025, driven by strong overseas sales and diversified business contributions [44]. - Major companies in the engineering machinery sector, such as SANY Heavy Industry and XCMG, reported significant revenue growth, with SANY achieving a 15% increase year-on-year in H1 2025 [41][44]. - The overall net profit for the engineering machinery sector reached 161 billion yuan in H1 2025, reflecting a 25.1% year-on-year increase, with profit growth outpacing revenue growth [45].

Core Viewpoint - The engineering machinery industry continues its recovery in the first half of 2025, driven by domestic demand from long-term government bond issuance, deepening equipment renewal policies, and accelerated energy transition. Core products such as excavators, concrete machinery, and cranes have seen comprehensive growth in domestic sales, while overseas markets remain robust, particularly in mineral development and energy infrastructure [1]. Company Performance Summary XCMG Machinery - Achieved operating revenue of 54.808 billion yuan, a year-on-year increase of 8.04%, and a net profit of 4.358 billion yuan, up 16.63%. The company shows a favorable development trend with growth in revenue, net profit, and cash flow, driven by internationalization, new energy, and aftermarket services [2][3]. - The earthmoving segment saw a revenue increase of 22.37%, making it the largest revenue segment, accounting for 31.05% of total revenue. Domestic sales share increased, with export revenue growing by 20% and aftermarket revenue up by 29% [3]. SANY Heavy Industry - Reported revenue of 44.534 billion yuan, a 14.96% increase, and a net profit of 5.216 billion yuan, up 46%. The excavator segment generated 17.497 billion yuan in sales, a 15% increase, maintaining the top position in the domestic market [5]. - Concrete machinery sales decreased by 6.49% to 7.441 billion yuan, while crane machinery sales increased by 17.89% to 7.804 billion yuan, with significant market share gains in various crane categories [6][7]. Zoomlion Heavy Industry - Recorded revenue of 24.855 billion yuan, a 1.3% increase, and a net profit of 2.765 billion yuan, up 20.84%. The crane segment accounted for 33.69% of total revenue, with earthmoving machinery exports growing over 33% [8]. LiuGong Machinery - Achieved revenue of 18.181 billion yuan, a 13.21% increase, and a net profit of 1.230 billion yuan, up 25.05%. The earthmoving machinery segment contributed 64.09% of total revenue, with both domestic and overseas markets showing strong growth [9]. Shantui - Reported revenue of 7.004 billion yuan, an 8.78% increase, with overseas revenue growing by 7.66% compared to the previous year [10]. Zhejiang Dingli - Achieved operating revenue of 4.336 billion yuan, a 12.35% increase, and a net profit of 1.052 billion yuan, up 27.63%. The company has shown resilience in a complex external environment [10]. Anhui Heli - Reported revenue of 9.390 billion yuan, a 6.18% increase, but net profit decreased by 4.60% to 0.796 billion yuan. Overseas revenue reached 4.016 billion yuan, up 15.20%, accounting for 43% of total revenue [11]. Market Dynamics - The engineering machinery industry is gradually improving, with domestic markets recovering and exports maintaining stable growth. Companies are actively seizing opportunities to enhance quality and efficiency while expanding their market presence [9][10].

Core Viewpoint - The financial performance of XG Company (厦工股份) for the first half of 2025 shows significant declines in revenue and net profit compared to the previous year, indicating potential challenges in its business operations and financial health [1][3]. Financial Performance Summary - Total revenue for the first half of 2025 was 311 million yuan, a decrease of 22.08% year-on-year [1]. - Net profit attributable to shareholders was 3.36 million yuan, down 43.82% year-on-year [1]. - In Q2 2025, total revenue was 177 million yuan, reflecting a 31.26% decline year-on-year [1]. - Q2 net profit attributable to shareholders was 2.29 million yuan, a decrease of 54.98% year-on-year [1]. - The gross margin was 16.94%, down 30.52% year-on-year, while the net margin was 4.59%, down 47.84% year-on-year [1]. - Total operating expenses (selling, administrative, and financial) amounted to 45.18 million yuan, accounting for 14.51% of revenue, an increase of 5.23% year-on-year [1]. Cash Flow and Receivables - The company reported a significant issue with accounts receivable, with the amount reaching 3738.05% of the latest annual net profit [1][4]. - The average operating cash flow over the past three years was only 18.77% of current liabilities, indicating potential liquidity concerns [4]. Historical Performance and Business Model - The company's return on invested capital (ROIC) was 2.6% last year, with a historical median ROIC of -6.97% over the past decade, suggesting poor investment returns [3]. - The company has experienced seven years of losses since its listing, raising concerns about its long-term viability [3]. - The business model relies heavily on research and development, marketing, and capital expenditures, necessitating careful evaluation of these investments [3].

Group 1 - The meeting of the 10th Supervisory Board of Xiamen XGMA Machinery Co., Ltd. was held on August 27, 2025, with all three supervisors present [1][2] - The Supervisory Board unanimously approved the company's 2025 semi-annual report, confirming that the preparation and review processes complied with relevant laws, regulations, and internal management systems [1] - The content and format of the 2025 semi-annual report were deemed to meet the requirements of the China Securities Regulatory Commission and the Shanghai Stock Exchange, accurately reflecting the company's operational results and financial status for the first half of 2025 [1]

Group 1 - The board of directors of Xiamen XGMA Machinery Co., Ltd. held its 33rd meeting on August 15, 2025, via email, with all procedures complying with legal regulations and the company's articles of association [1] - The board approved the full text and summary of the 2025 semi-annual report [1] - The board also approved the risk assessment report for Xiamen International Trade Holdings Group Financial Co., Ltd. for the first half of 2025, with specific voting results showing 3 votes in favor [2] - The establishment of a new subsidiary to share the comprehensive credit limit for 2025 was approved, with 7 votes in favor [2] - The board approved the proposal to formulate the "Company Information Disclosure Postponement and Exemption Management System" with unanimous support [2] - The internal audit management system was revised and approved by the board with unanimous support [3] - The performance evaluation results for senior management for 2024 were approved, with unanimous support [3] - The basic annual salary and evaluation plan for senior management for 2025 were also approved, with unanimous support [3]