Investment Rating - The report maintains a "Recommended" investment rating for the mechanical industry, indicating a positive outlook for the sector [7]. Core Insights - The mechanical equipment sector has shown strong performance, with the Shanghai Stock Exchange's mechanical equipment index rising by 4.50% from December 21 to December 26, 2025, outperforming the CSI 300 index by 2.55 percentage points [12]. - The low-altitude economy is gaining traction, with the National Development and Reform Commission officially categorizing it as a comprehensive economic form that drives innovation and application in related industries [3]. - The export of engineering machinery from China has seen significant growth, with a total export value of $52.3 billion in November 2025, marking a year-on-year increase of 16.6% [4]. Summary by Sections Weekly Market Review - From December 21 to December 26, 2025, the Shanghai Composite Index increased by 1.88%, the Shenzhen Component Index by 3.53%, and the ChiNext Index by 3.90%. The mechanical equipment sector outperformed the broader market, ranking 6th among 31 sectors [12]. - Sub-sectors such as general equipment, specialized equipment, and automation equipment saw increases of 5.11%, 5.30%, and 5.85%, respectively [12]. Key Sector Data Tracking - The low-altitude economy is being structured with a new statistical classification system, which will aid in policy formulation and regional development [3]. - The engineering machinery sector's export and import data for November 2025 shows a total trade value of $54 billion, with exports growing by 16.6% year-on-year [4]. - The report highlights the competitive advantages of domestic leading enterprises in the engineering machinery sector, supported by favorable supply and demand dynamics [4]. Investment Recommendations - For the low-altitude economy, recommended companies include Deep City Transportation, Sujiao Science and Technology, and Huasheng Group [5]. - In the mechanical equipment sector, recommended companies include Sany Heavy Industry, XCMG, and Anhui Heli [5].

Core Viewpoint - Greenfield Machinery announced the approval of multiple proposals at its first extraordinary general meeting of shareholders in 2025, including the cancellation of the supervisory board and amendments to business registration [2] Group 1 - The company held its first extraordinary general meeting of shareholders in 2025 on December 30 [2] - The meeting approved the proposal to cancel the supervisory board [2] - The company will also proceed with amendments to business registration and other related matters [2]

证券日报网讯 12月30日，绿田机械发布公告称，公司第六届董事会第十七次会议于2025年12月30日召 开，审议通过《关于选举代表公司执行公司事务的董事的议案》《关于确认公司第六届董事会审计委员 会成员及召集人的议案》。 （文章来源：证券日报） ...

绿田机械股份有限公司 关于非独立董事辞职暨选举职工代表董事 及专门委员会委员的公告 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： ●绿田机械股份有限公司（以下简称"公司"）董事会近日收到非独立董事 张竞丹女士提交的书面辞职报告。因公司治理结构调整，张竞丹女士申请辞去公 司第六届董事会非独立董事以及第六届董事会审计委员会委员的相关职务，该辞 职报告自送达公司董事会之日起正式生效，辞任后张竞丹女士将继续在公司任职。 ●公司于 2025 年 12 月 30 日召开职工代表大会，选举张竞丹女士为公司第 六届董事会职工代表董事，任期与公司第六届董事会任期一致。 证券代码：605259 证券简称：绿田机械 公告编号：2025-033 (二) 离任对公司的影响 根据《公司法》和《公司章程》的相关规定，张竞丹女士的辞任不会导致公 司董事会成员低于法定最低人数，不会影响董事会正常运作，张竞丹女士的辞职 报告自送达公司董事会之日起生效。 ●公司于 2025 年 12 月 30 日召开第六届董事会第十七次会议，审议通过了 《关于确 ...

证券代码：605259 证券简称：绿田机械 公告编号：2025-035 绿田机械股份有限公司 关于董事会延期换届及部分独立董事 任期届满的提示性公告 绿田机械股份有限公司董事会 1 绿田机械股份有限公司（以下简称"公司"）第六届董事会将于 2026 年 1 月 5 日任期届满。鉴于公司董事会的相关换届工作尚在筹备中，公司预计在原定 任期届满前无法完成董事会的换届工作。为保障董事会工作的连续性和稳定性， 公司董事会的换届选举工作将适当延期，公司董事会及董事会下设各专门委员会 和高级管理人员的任期将相应顺延，继续履行相应的职责和义务。 二、公司部分独立董事任期届满的提示 2025 年 12 月 31 日 根据《公司法》《上市公司独立董事管理办法》及《公司章程》等相关规定， 独立董事在上市公司连续任职时间不得超过六年。公司现任独立董事贾滨先生、 薛胜雄先生的任期将于 2026 年 1 月 5 日届满且连任时间满 6 年，即将任期届满 离任。目前公司董事会成员 7 名，其中独立董事 3 名，鉴于独立董事任期届满离 任将导致公司独立董事人数少于董事会成员三分之一，根据相关法律法规和《公 司章程》的规定，在董事会换届工作 ...

证券代码：605259 证券简称：绿田机械 公告编号：2025-032 绿田机械股份有限公司 2025年第一次临时股东大会决议公告 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。 重要内容提示： 本次会议是否有否决议案：无 一、 会议召开和出席情况 | 1、出席会议的股东和代理人人数 | 78 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 102,171,664 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股 | | | 份总数的比例（%） | 59.2368 | (四) 表决方式是否符合《公司法》及《公司章程》的规定，大会主持情况等。 本次股东大会由公司董事长罗昌国先生主持，会议采用现场投票与网络投票 相结合的方式进行表决。会议召集、召开程序及表决方式符合《公司法》及《公 (一) 股东大会召开的时间：2025 年 12 月 30 日 (二) 股东大会召开的地点：浙江省台州市路桥区横街镇新兴路 299 号公司一 楼会议室 (三) 出席会议的普通股股东和恢复表决权的优先股股 ...

地址：杭州市上城区老复兴路白塔公园 B 区 2 号、15 号、28 号楼国浩律师楼 邮编：310008 国浩律师（杭州）事务所 关于 绿田机械股份有限公司 2025 年第一次临时股东大会 法律意见书 Grandall Building, No.2＆No.15, Block B, Baita Park, Old Fuxing Road, Hangzhou, Zhejiang 310008, China 国浩律师（杭州）事务所 股东大会法律意见书 国浩律师（杭州）事务所 关于绿田机械股份有限公司 2025 年第一次临时股东大会 法律意见书 致：绿田机械股份有限公司 电话/Tel: (+86)(571) 8577 5888 传真/Fax: (+86)(571) 8577 5643 电子邮箱/Mail：grandallhz@grandall.com.cn 网址/Website：http://www.grandall.com.cn 二〇二五年十二月 国浩律师（杭州）事务所（以下简称"本所"）接受绿田机械股份有限公司 （以下简称"公司"）的委托，指派律师出席公司 2025 年第一次临时股东大会 （以下简称"本次股东大会" ...

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。 绿田机械股份有限公司 第六届董事会第十七次会议决议公告 一、董事会会议召开情况 绿田机械股份有限公司（以下简称"公司"）第六届董事会第十七次会议于 2025 年 12 月 30 日（星期二）在公司会议室以现场结合通讯表决的方式召开， 经全体董事同意，本次会议豁免通知时限。本次会议应出席董事 7 名，实际出席 7 名，公司高级管理人员列席会议。 会议由董事长、总经理罗昌国先生主持召开，本次董事会的召集、召开程序 符合有关法律法规、规章和《公司章程》的规定，会议决议合法、有效。 二、董事会会议审议情况 经与会董事认真审议，会议形成了如下决议： 证券代码：605259 证券简称：绿田机械 公告编号：2025-034 2、审议通过《关于确认公司第六届董事会审计委员会成员及召集人的议案》 根据《公司法》和《公司章程》等有关规定，公司不再设置监事会，原《公 司法》规定的监事会的职权由董事会审计委员会承接，确认公司第六届董事会审 计委员会仍由毛美英女士（主任委员）、贾滨先生（独立董事）、张竞丹 ...

Core Insights - The report emphasizes the strong resilience of leading white goods companies, highlighting their high dividend yields, with Gree Electric at 7.3%, Midea Group at 5.1%, Hisense Home Appliances at 4.9%, and Haier Smart Home at 4.6% [6][22] - The "Home Appliance +" strategy indicates opportunities in extending the appliance industry into robotics, with companies like Midea Group and Fuhua Co. making significant advancements [6][58] - The export market shows potential, particularly in the U.S. real estate sector, with expectations of demand recovery due to anticipated interest rate cuts and housing stimulus policies [6][70] Section Summaries 2025 Home Appliance Review - The home appliance index has shown a modest increase of 7.7% year-to-date, underperforming the CSI 300 index by approximately 9.7 percentage points [11][14] - The market style in 2025 has favored growth stocks, while the home appliance sector has leaned towards value, leading to a mismatch in market expectations [13][14] - The public fund allocation in the home appliance sector is at a historical low of 2.94%, indicating potential for future growth as external demand remains optimistic [18][19] Dividends - Leading white goods companies maintain high dividend yields, with Gree Electric at 7.3%, Supor at 6.1%, and Midea Group at 5.1%, reflecting strong earnings resilience [24][29] - The report suggests that the dividend rates for companies like Midea and Haier may continue to increase, supported by robust profit growth [24][30] Domestic Sales - The national subsidy policy has positively impacted consumer confidence, with a clear trend towards structural upgrades in appliance consumption [34] - The sales growth of home appliances has been driven by the "trade-in" policy, although growth rates have shown a declining trend in the latter part of the year [34][39] - The air conditioning market has maintained stable pricing, with a continued trend towards mid-to-high-end products [39] "Home Appliance +" - Midea Group has made significant investments in robotics, with humanoid robots already in practical application within factories [58] - Fuhua Co. is expected to launch its grain storage robots in 2026, indicating a diversification into new growth areas [59] - Key component manufacturers like Huaxiang Co. and Hanyu Group are positioned to benefit from the robotics trend, focusing on core components such as reducers and harmonic drives [64][65] Exports - The U.S. real estate market is expected to recover, with potential interest rate cuts and housing stimulus policies likely to boost demand for home appliances [71][84] - Retail inventory levels in the U.S. are high, which may affect sales performance in the short term, but long-term housing demand remains strong [76][83] - The report anticipates that if mortgage rates fall below 6%, there could be a significant recovery in demand within the real estate chain [84]

Group 1 - The core viewpoint of the news is that Lvtian Machinery's stock has seen a significant increase, with a 3.02% rise on December 24, reaching a price of 22.17 yuan per share, and a total market capitalization of 3.824 billion yuan [1] - Lvtian Machinery has experienced a continuous stock price increase for six consecutive days, with a cumulative increase of 6.38% during this period [1] - The company, established on June 7, 2002, and listed on June 15, 2021, specializes in the research, production, and sales of general power machinery products, including generator sets, water pump units, engines, and high-pressure cleaners [1] Group 2 - The main business revenue composition of Lvtian Machinery includes high-pressure cleaner products at 57.56%, general power machinery products at 37.65%, material sales at 4.00%, and energy storage products at 0.79% [1] - Among the top ten circulating shareholders of Lvtian Machinery, a fund under China Merchants Fund, specifically the China Merchants Quantitative Selected Stock Fund A (001917), has reduced its holdings by 861,200 shares, now holding 2.3644 million shares, which accounts for 1.37% of the circulating shares [2] - The China Merchants Quantitative Selected Stock Fund A has achieved a year-to-date return of 38.44%, ranking 1068 out of 4197 in its category, and a one-year return of 37.8%, ranking 1025 out of 4157 [2]