证券代码：600984 证券简称：建设机械 公告编号：2025-058 陕西建设机械股份有限公司 第八届董事会第十九次会议决议公告 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。 陕西建设机械股份有限公司（以下简称"公司"）第八届董事会第十九次会议通知 及会议文件于 2025 年 10 月 23 日以邮件及书面形式发出至全体董事，会议于 2025 年 10 月 30 日上午 9:30 以通讯表决方式召开。会议应到董事 8 名，实到董事 8 名。会议由董 事长车万里先生主持。会议的召集、召开和表决程序符合有关法律、法规和《公司章程》 的相关规定，会议形成的决议合法有效。 会议充分讨论了会议议程中列明的议案，经过审议并表决，一致通过以下决议： 一、通过《公司 2025 年第三季度报告》； 公司 2025 年第三季度报告全文内容详见同日公告和上海证券交易所网站 （www.sse.com.cn）。 表决结果：同意票 8 票，反对票 0 票，弃权票 0 票。 二、通过《关于公司计提资产减值准备的议案》。 特此公告。 陕西建设机械股份有限 ...

Financial Performance - The company's operating revenue for Q3 2025 was ¥649,301,558.31, a decrease of 2.20% compared to the same period last year[4] - The total profit for Q3 2025 was -¥582,909,002.81, reflecting a significant decline of 218.11% year-over-year[4] - The net profit attributable to shareholders for Q3 2025 was -¥492,624,398.94, down 138.32% from the previous year[4] - The basic earnings per share for Q3 2025 was -¥0.3919, a decline of 138.38% compared to the same period last year[4] - Total operating revenue for the first three quarters of 2025 was approximately ¥1.77 billion, a decrease of 10.65% compared to ¥1.98 billion in the same period of 2024[26] - Net loss for the first three quarters of 2025 was approximately ¥940 million, compared to a net loss of approximately ¥628 million in the same period of 2024, representing a 49.7% increase in losses[27] - Operating profit for the first three quarters of 2025 was approximately -¥1.12 billion, worsening from -¥730 million in 2024[26] - The basic and diluted earnings per share for the first three quarters of 2025 were both -¥0.7478, compared to -¥0.4995 in 2024[27] Cash Flow - The net cash flow from operating activities for the year-to-date period was ¥238,390,584.33, an increase of 1,068.48% compared to the same period last year[4] - The company's cash and cash equivalents decreased by 39.83% to ¥799,374,868.45 from ¥1,328,549,874.01[15] - Cash flow from operating activities for the first three quarters of 2025 was approximately ¥238 million, significantly up from ¥20 million in 2024[29] - Cash flow from investing activities for the first three quarters of 2025 was approximately -¥170 million, an improvement from -¥487 million in 2024[30] - Cash flow from financing activities for the first three quarters of 2025 was approximately -¥566 million, compared to a positive cash flow of approximately ¥896 million in 2024[30] - The company reported a total cash and cash equivalents balance of approximately ¥780 million at the end of the third quarter of 2025, down from ¥1.42 billion at the end of the same period in 2024[30] Assets and Liabilities - The total assets at the end of Q3 2025 were ¥15,563,580,467.23, representing a decrease of 8.34% from the end of the previous year[4] - The company's current liabilities totaled RMB 4.34 billion, down from RMB 6.28 billion at the end of 2024, indicating improved liquidity[24] - The company's total liabilities decreased to RMB 11.18 billion from RMB 12.70 billion at the end of 2024, indicating a reduction in financial leverage[24] - The company’s non-current assets totaled RMB 9.47 billion, down from RMB 10.01 billion at the end of 2024, indicating a potential divestment or depreciation of assets[23] Shareholder Information - The company reported a total of 37,762 common shareholders at the end of the reporting period[10] - The largest shareholder, Shaanxi Coal and Chemical Industry Group Co., Ltd., holds 29.58% of the shares[10] Other Financial Metrics - The weighted average return on equity was -13.65%, a decrease of 9.29 percentage points year-over-year[4] - The company recognized non-recurring losses of -¥424,549.78 for the current period[6] - The company reported a 257.04% increase in other income, reaching ¥9,253,909.18 from ¥2,591,804.75[17] - The total profit decreased to -¥1,132,280,207.56 compared to -¥732,612,691.95 in the previous period[17] Investment and Financing Activities - The company plans to issue perpetual medium-term notes in the interbank market with a total scale not exceeding RMB 1 billion to broaden financing channels and reduce costs[20] - The first phase of the technology innovation bond issuance for 2025 was completed, with an issuance amount of RMB 1 billion and an interest rate of 2.55%[20] - The company will establish a joint venture with Hengda Zhikong with a total investment of RMB 100 million, where the company holds 51% of the equity[20] Inventory and Production - The company's inventory increased to RMB 475.43 million, up from RMB 376.99 million at the end of 2024, reflecting a potential increase in production[23]

每经AI快讯，建设机械（SH 600984，收盘价：3.83元）10月30日晚间发布三季度业绩公告称，2025年 前三季度营收约17.71亿元，同比减少10.65%；归属于上市公司股东的净利润亏损约9.4亿元；基本每股 收益亏损0.7478元。 每经头条（nbdtoutiao）——多地出现"负电价"，既然卖电"不挣钱"，为何电厂不愿停机？ （记者 张明双） 截至发稿，建设机械市值为48亿元。 ...

Core Insights - The engineering machinery sector experienced a slight decline of 0.11% on October 30, with Zhongli Co., Ltd. leading the losses [1] - The Shanghai Composite Index closed at 3986.9, down 0.73%, while the Shenzhen Component Index closed at 13532.13, down 1.16% [1] Stock Performance Summary - Zhongji United (605305) saw a significant increase of 9.99% in its closing price at 44.25, with a trading volume of 138,100 shares and a transaction value of 608 million yuan [1] - Other notable gainers included Jindao Technology (301279) with a 4.95% increase, closing at 24.58, and San重工 (600031) with a 1.76% increase, closing at 22.51 [1] - Conversely, Zhongli Co., Ltd. (603194) led the declines with a drop of 5.86%, closing at 40.13, followed by Tietuo Machinery (920706) down 5.17% [2] Capital Flow Analysis - The engineering machinery sector saw a net outflow of 41.72 million yuan from institutional investors, while retail investors contributed a net inflow of 196 million yuan [2] - The capital flow data indicates that major stocks like Yichong Heavy Industry (600031) had a net inflow of 22.6 million yuan from institutional investors, while Zhongji United (605305) experienced a net outflow of 58.06 million yuan from retail investors [3]

Core Insights - A total of 490 stocks in the Shanghai and Shenzhen markets have experienced net outflows of main funds for five consecutive days or more as of October 29 [1] - The stock with the longest continuous net outflow is Zhongju Gaoxin, with 31 days of outflows, followed by Hengshen New Materials with 21 days [1] - The largest total net outflow amount is from China Merchants Bank, with a cumulative outflow of 3.093 billion yuan over 12 days [1] Group 1: Stocks with Longest Net Outflows - Zhongju Gaoxin has seen net outflows for 31 days, with a total outflow of 559 million yuan and a cumulative decline of 6.91% [1] - Hengshen New Materials has recorded net outflows for 21 days, totaling 197 million yuan, with a decline of 9.80% [3] - China Merchants Bank has the highest net outflow amount of 3.093 billion yuan over 12 days, with a net outflow ratio of 6.98% and a cumulative increase of 1.65% [1] Group 2: Other Notable Stocks - Guotai Junan has experienced net outflows for 10 days, amounting to 1.877 billion yuan, with a net outflow ratio of 7.89% and a cumulative increase of 2.70% [1] - Shengbang Co. has seen net outflows for 12 days, totaling 1.826 billion yuan, with a net outflow ratio of 9.52% and a cumulative decline of 10.65% [1] - Huajian Group has recorded net outflows for 6 days, with a total outflow of 1.713 billion yuan and a significant decline of 40.29% [1] Group 3: Stocks with Significant Outflow Ratios - Jianan Intelligent has the highest net outflow ratio at 14.74%, with a decline of 2.98% over the past 5 days [1] - Other notable stocks with high outflow ratios include Huayi Development at 11.91% and Pianzaihuang at 11.84% [1] - The overall trend indicates a significant outflow of funds from various sectors, reflecting investor sentiment and market conditions [1]

Core Points - The engineering machinery sector experienced a decline of 1.49% on October 23, with Tietuo Machinery leading the drop [1] - The Shanghai Composite Index closed at 3922.41, up 0.22%, while the Shenzhen Component Index closed at 13025.45, also up 0.22% [1] Sector Performance - The following companies showed notable performance: - Weiman Sealing (Code: 301161) increased by 4.93% with a closing price of 39.77 and a trading volume of 153,800 shares [1] - Southern Road Machinery (Code: 603280) rose by 1.88% to 42.25 with a trading volume of 149,900 shares [1] - Huadong Heavy Machinery (Code: 002685) saw a slight increase of 0.79% to 7.62 with a trading volume of 177,200 shares [1] - Conversely, Tietuo Machinery (Code: 920706) fell by 13.57% to 24.71 with a trading volume of 136,700 shares [2] - Other significant declines included: - Hengli Drill Tools (Code: 920942) down 10.57% to 41.69 [2] - Construction Machinery (Code: 600984) down 8.70% to 4.20 [2] Capital Flow - The engineering machinery sector saw a net outflow of 882 million yuan from institutional investors, while retail investors contributed a net inflow of 849 million yuan [2][3] - The following companies had notable capital flows: - Huadong Heavy Machinery had a net inflow of 8.05 million yuan from institutional investors [3] - Anhui Heli (Code: 600761) experienced a net outflow of 1.91 million yuan from institutional investors [3] - Tietuo Machinery had a significant net outflow of 13.67 million yuan from institutional investors [3]

Market Overview - On October 23, major indices experienced fluctuations, with the Shanghai Composite Index rising by 0.22%, the Shenzhen Component Index also up by 0.22%, and the ChiNext Index increasing by 0.09%. The Sci-Tech Innovation 50 Index fell by 0.3%. Over 2900 stocks in the two markets rose, with a total trading volume of approximately 1.64 trillion yuan [2]. State-Owned Enterprise Reform - The concept of state-owned enterprise reform gained strength, with notable stock increases: JianKaoYuan (300675.SZ) surged by 20%, while TeFa Information (000070.SZ), TeLi A (000025.SZ), ShenSaiGe (000058.SZ), ShenFangZhi A (000045.SZ), and Shenzhen Energy (000027.SZ) rose by 10% [2]. Coal Sector Performance - The coal sector also showed strong performance, with DaYou Energy (600403.SH), YunMei Energy (600792.SH), and Shanxi Black Cat (601015.SH) each rising by 10%. ZhongMei Energy (601898.SH) and YanKuan Energy (600188.SH) also saw increases [3]. Lithium Battery Sector Activity - The lithium battery sector was active, with ShengXin Lithium Energy (002240.SZ) increasing by 10%, and RongJie Shares (002192.SZ) rising by 7.52%. Other companies like Tibet Mining (000762.SZ) and GanFeng Lithium (002460.SZ) experienced significant gains. The main contract for lithium carbonate futures rose by over 4%, with expectations of increased production in October due to new production lines coming online [4]. Quantum Technology Sector - The quantum technology sector performed well, with KeDa GuoChuang (300520.SZ) rising by 20%. Other companies such as DiPu Technology (300768.SZ), DaHua Intelligent (002512.SZ), ShenZhou Information (000555.SZ), and GuoDun Quantum (688027.SH) also saw substantial increases. This surge was driven by Google's announcement of a breakthrough in quantum algorithms, achieving a speed 13,000 times faster than the best supercomputers [4]. Declining Sectors - The oil and gas, as well as engineering machinery sectors, showed weakness, with companies like JianShe Machinery (600984.SH), LiuGong (000528.SZ), HengLi Hydraulic (601100.SH), and Sany Heavy Industry (600031.SH) experiencing declines. The pharmaceutical and semiconductor sectors also weakened, with Canxin Shares (688691.SH) dropping over 11%, alongside RongChang Bio (688331.SH) and Maiwei Bio (688062.SH) [5].

Core Insights - The sales of new energy heavy trucks have exceeded 15,000 units for six consecutive months since March 2025, with charging heavy trucks maintaining monthly sales above 10,000 units since April [1][4] - In September 2025, the overall sales of new energy heavy trucks reached a record high of 24,100 units, with charging heavy trucks continuing to show strong performance [4][34] Sales Performance - In September 2025, the domestic new energy heavy truck market sold 24,100 units, marking a 36% month-on-month increase and a 206% year-on-year increase [4] - Pure electric heavy trucks accounted for 97.33% of total sales, with charging heavy trucks selling 15,800 units, reflecting a 32% month-on-month increase and a 220% year-on-year increase [4][5] - Charging heavy trucks have achieved a year-on-year growth rate of 220% in September, outperforming the overall new energy heavy truck market [5][34] Market Share and Competition - As of September 2025, charging heavy trucks have been the dominant segment, with a market share of 67.46% [5] - The market for charging heavy trucks has seen participation from 30 companies by July 2025, with 11 out of the top 12 companies achieving sales growth [19][25] - The top four companies in market share for charging heavy trucks are SANY, XCMG, FAW Jiefang, and Shaanxi Automobile, with respective market shares of 20.59%, 16.02%, 15.40%, and 12.10% [25] Segment Analysis - From January to September 2025, charging heavy trucks sold 91,700 units, with tractor trucks and dump trucks making up 70.37% and 12.82% of sales, respectively [11][27] - Charging tractor trucks saw a significant year-on-year increase of 311%, while charging dump trucks grew by 122% [27][31] - The competition for charging tractor trucks is intense, with SANY, FAW Jiefang, and XCMG each exceeding 10,000 units sold [29] Geographic Distribution - By September 2025, charging heavy trucks have been registered in all 31 provincial-level administrative regions in China, with 317 cities having registered charging heavy trucks [13] - Major cities such as Shanghai, Shenzhen, Chengdu, Guangzhou, Changsha, and Zhengzhou have seen over 2,000 units registered [13] Future Outlook - The continuous growth of charging heavy trucks, with 21 months of doubling sales and 25 months outperforming the overall new energy heavy truck market, raises questions about the sustainability of this trend [34]

Core Viewpoint - The high-profile stocks are experiencing significant adjustments, with multiple companies hitting their daily limit down, indicating a bearish trend in the market [1] Group 1: Stock Performance - Shangshi Development (上实发展) dropped to 6.96, down 9.96% [2] - Construction Machinery (建设机械) fell to 4.14, down 10.00% [2] - Huajian Group (花蓮集团) decreased to 33.16, down 9.99% [2] - Ruineng Technology (睿能科技) declined to 21.09, down 9.99% [2] - Lanfeng Biochemical (蓝丰生化) fell to 8.81, down 9.64% [2] - Sanfu Shares (三孚股份) dropped to 17.75, down 9.90% [2] - Hefei Urban Construction (合肥城建) decreased to 13.97, down 9.23% [2] - Seagull Construction (海鸥住工) fell to 4.46, down 8.98% [2] - Yuanda Holdings (远大控股) dropped to 8.82, down 8.70% [2] Group 2: Market Trends - The overall market sentiment is negative, with several stocks experiencing declines of over 9% [1] - The trend indicates a potential shift in investor confidence, leading to increased selling pressure across multiple sectors [1]

Group 1 - A-share market shows continued adjustment in high-profile stocks during the afternoon session, with companies such as Shangshi Development and Construction Machinery hitting the daily limit down [1] - Previous declines were noted in Huajian Group and Ruineng Technology, with other companies like Lanfeng Biochemical, Sanfu Co., Hefei Urban Construction, Haiou Zhugong, and Yuanda Holdings also experiencing declines [1] Group 2 - MACD golden cross signal has formed, indicating a positive trend for certain stocks [2]