发布会上，市工信局副局长方海燕介绍，本届大会由江苏省人民政府、国际智能制造联盟主办，南 京市人民政府、江苏省工信厅、工信部装备工业发展中心、中国科协智能制造学会联合体以及省有关部 门承办。大会期间将举办1场主题大会、1场市场化展览、12场专题活动，达索、京东等企业以及重点 板块园区将举办16场产业生态活动。记者从发布会上了解到，本次大会具有"四大特色亮点"。 ——突出高端引领，打造产业创新"策源地"。大会期间，来自国内外智能制造领域的顶尖专家、知 名企业家和行业领军人物，将齐聚一堂，深入探讨智能制造领域的最新发展趋势、前沿技术以及创新应 用案例，为全球智能制造的发展提供前瞻性的思路和方向。 2025世界智能制造大会将于11月27日至29日在南京举行，目前，大会各项准备工作已基本就绪。 昨天下午在南京钢铁集团举行的南京市新闻发布会上，相关部门通报本次大会的筹备情况，并"剧透"四 大特色亮点。 2016年以来，世界智能制造大会已在南京成功举办了9届，今年迎来第十年。立足新起点，本次大 会以"数智驱动 新质领航"为主题，持续构建一个国际化、高端化、专业化的全球智能制造交流合作平 台，通过全面展示智能制造领域的最新成 ...

香港交易及結算所有限公司及香港聯合交易所有限公司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。 Zoomlion Heavy Industry Science and Technology Co., Ltd.* * 僅供識別 （股份代號：1157） 臨時股東會及H股類別股東會議 暫停辦理股份過戶登記手續期間 中聯重科股份有限公司（「本公司」）董事會謹此宣佈，本公司臨時股東會（「臨時股 東會」）將於2025年12月11日（星期四）下午2時30分在中國湖南省長沙市銀盆南路 361號公司辦公大樓多功能會議廳舉行。本公司的H股類別股東會議（「H股類別股 東會議」）將於同日下午3時在同地點舉行。 為確定可出席臨時股東會及H股類別股東會議並可於會上投票之H股股東名單，本 公司將於2025年12月8日（星期一）至2025年12月11日（星期四）（包括首尾兩天） 暫停辦理H股股份過戶登記手續，於該期間不會進行股份過戶。為符合出席臨時 股東會及H股類別股東會議並可於會上投票的資格，H股持有人須於2025年12月5 ...

香港交易及結算所有限公司及香港聯合交易所有限公司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。 Zoomlion Heavy Industry Science and Technology Co., Ltd.* 中聯重科股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：1157） 臨時股東會及H股類別股東會議 暫停辦理股份過戶登記手續期間 中聯重科股份有限公司（「本公司」）董事會謹此宣佈，本公司臨時股東會（「臨時股 東會」）將於2025年12月11日（星期四）下午2時30分在中國湖南省長沙市銀盆南路 361號公司辦公大樓多功能會議廳舉行。本公司的H股類別股東會議（「H股類別股 東會議」）將於同日下午3時在同地點舉行。 為確定可出席臨時股東會及H股類別股東會議並可於會上投票之H股股東名單，本 公司將於2025年12月8日（星期一）至2025年12月11日（星期四）（包括首尾兩天） 暫停辦理H股股份過戶登記手續，於該期間不會進行股份過戶。為符合出席臨時 股東會及H股類別股東會議並可 ...

中新网长沙11月19日电 (龙雨泉)11月19日，"服务零距离 铸就高质量——长沙市场监管全链条护航经营 主体高质量发展"活动在长沙市人民政府政务服务中心举行。 活动现场，长沙市市场监管局党组书记蒋文武作主旨推介，从"易入准营"准入环境、"精准滴灌"培优体 系、"质优天下"提升行动、"无事不扰"监管服务四方面，展现长沙市场监管创新实践。他表示，全市监 管部门将持续当好创新创业守护者、经营主体同行者和青年英才服务者。 长沙市质量提升项目奖励资金颁发仪式。龙雨泉 摄 准入环境优化让创业活力持续迸发。中南大学在读博士生张哲浩分享创业经历，其创办的温德斯科技在 湘江新区政策扶持下，1天内完成营业执照办理。据悉，长沙推出大学生创业"启航计划"，构建全要素 服务模式，今年以来新增大学生创办经营主体8028户、企业4010户。目前全市新设企业一日办结率达 99.5%，注册登记全程网办率超90%。 长沙市市场监管局与湖南银行长沙分行签署意向合作协议。龙雨泉 摄 政银协同再启新篇。现场，长沙市市场监管局分别与中国工商银行长沙分行、湖南银行长沙分行签署合 作协议，两家银行推出专项金融服务方案，针对大学生创业者、小微企业等群体优化 ...

晨会纪要（2025/11/20） 编辑人 022-28451618 SAC NO：S1150511010016 cuijian@bhzq.com 崔健 渤海证券研究所晨会纪要（2025.11.20） 金融工程研究 主要指数全部震荡调整，两融余额小幅下降——融资融券周报 行业研究 工业机器人产量将创新高，关注内资品牌占比提升——机械设备行业周报 创新药景气延续，CXO 持续改善，器械筑底修复——医药生物行业 2025 年 三季报业绩综述 证 券 研 究 报 告 晨 会 纪 要 请务必阅读正文之后的声明 渤海证券股份有限公司具备证券投资咨询业务资格 1 of 6 晨会纪要（2025/11/20） 金融工程研究 主要指数全部震荡调整，两融余额小幅下降——融资融券周报 王雪莹（证券分析师，SAC NO：S1150525020001） 1、市场概况 上周（11 月 12 日-11 月 18 日）A 股市场主要指数全部震荡调整，其中科创 50 跌幅最大，下跌了 2.13%； 上证 50 跌幅最小，下跌了 1.04%。此外，上证综指下跌 1.57%，深证成指下跌 1.57%，创业板指下跌 2.08%， 沪深 300 下跌 ...

Core Insights - The "Three-Year Action Plan for High-Quality Development of Agricultural Machinery Equipment Industry in Hunan Province (2025-2027)" aims to establish a nationally influential smart agricultural machinery industry chain centered in Changsha, with goals to cultivate one hundred-billion enterprise and three ten-billion enterprises [1][2] Group 1: Development Goals - The plan outlines a development layout of "one center, three bases, and three demonstration areas," focusing on Changsha as the core for smart agricultural innovation, supported by manufacturing bases in Loudi, Chenzhou, and Changde [1][2] - By 2027, the revenue of large-scale agricultural machinery enterprises in Hunan is expected to exceed 20 billion, with an average annual growth rate of over 10% [1] Group 2: Technological Advancements - The plan emphasizes the development of high-end equipment in artificial intelligence and eco-friendly technologies, leveraging Changsha's educational resources and industrial foundation [2] - It aims for smart agricultural machinery to account for over 60% of the total by 2027, with companies like Zoomlion already making significant advancements in this area [3] Group 3: Market Expansion - The plan includes strategies to expand overseas markets, promoting Hunan's agricultural machinery at international exhibitions and establishing localized service teams in countries along the Belt and Road Initiative [4] - Zoomlion has been proactive in international market expansion, recently showcasing its products at major global agricultural machinery exhibitions, enhancing its brand presence [4]

Core Insights - Changsha has accelerated the construction of a modern industrial system, focusing on advanced manufacturing and supporting pillar industries, with the engineering machinery industry ranking first in the country for 15 consecutive years [1] - The city has cultivated 396 intelligent manufacturing enterprises and has been recognized as one of the first pilot cities for new technology transformation in manufacturing [1] - The digital economy in Changsha has surpassed 500 billion yuan, with a significant focus on future industries such as artificial intelligence and quantum technology [1] Group 1 - Changsha's engineering machinery industry has five companies listed among the world's top 50 manufacturers [1] - The city aims to produce 899,000 new energy vehicles by 2024, accounting for one out of every thirteen vehicles produced in China [1] - The new generation of autonomous safety computing system industry cluster in Changsha is the only "computing" industry cluster among the 80 national advanced manufacturing clusters [1] Group 2 - The average production rate at the Zoomlion Smart Industrial City is one excavator every six minutes, showcasing the efficiency of the manufacturing process [2] - The industrial internet platform at Zoomlion covers over 160 countries and regions, managing more than 800,000 pieces of equipment [2] - The integration of digital technology and intelligent manufacturing at Zoomlion has improved industrial efficiency and product quality stability, while enhancing the working environment for employees [2]

Core Viewpoints - The report emphasizes seizing growth opportunities arising from industrial upgrades in the machinery sector [4][6] - Investment recommendations focus on capturing growth lines and identifying quality leading companies with core competitiveness [5][7] Group 1: Industry Overview - The machinery industry is entering a second phase of industrial upgrading, with high-end manufacturing poised for significant growth opportunities [11][13] - The industry is characterized by a broad distribution of downstream applications, with numerous sub-sectors categorized into five primary and nineteen secondary industries [39][43] Group 2: Emerging Growth Directions - Key emerging growth areas include humanoid robots, AI infrastructure, and unmanned forklifts, driven by AI advancements and energy transformation [6][10] - The report highlights the potential for humanoid robots to revolutionize productivity and improve human life, with significant market potential supported by national policies [49][53] Group 3: Engineering Machinery - The domestic engineering machinery sector has stabilized, with expectations of continued recovery driven by equipment updates and major infrastructure projects [7][10] - Globalization strategies are expected to enhance profitability and smooth domestic cyclical fluctuations, transitioning the industry towards a "globalization + electrification" growth model [7][10] Group 4: Self-Control and Localization - The report identifies significant opportunities in domestic substitution and self-control, particularly in scientific instruments and semiconductor components [7][10] - The focus is on increasing localization rates in core segments, with recommendations for companies in scientific instruments and X-ray detection equipment [7][10] Group 5: Nuclear Power and Controlled Nuclear Fusion - The nuclear power sector is experiencing favorable conditions, with ongoing improvements in the nuclear fission power industry and potential growth in controlled nuclear fusion [7][10] - The report suggests monitoring companies involved in nuclear power and fusion technologies for long-term investment opportunities [7][10] Group 6: Value Directions - The report emphasizes the importance of detection services, general equipment, and tire molds as value-driven segments within the machinery industry [7][10] - Recommendations include focusing on companies with strong cash flow and resilience in the current economic environment [7][10] Group 7: Investment Recommendations - A combination of growth and forward-looking companies is recommended, including those in humanoid robots, AI infrastructure, and detection services [7][10] - Long-term investment strategies should prioritize companies with robust fundamentals and competitive positioning in their respective markets [7][10]

Group 1 - The mechanical industry showed a strong performance in 2025, with a cumulative increase of 35.07%, outperforming the Shanghai and Shenzhen 300 index (17.94%) and the Shanghai Composite Index (17.99%) [1][17][21] - Emerging sectors such as AI equipment (140%), lithium battery equipment (96%), humanoid robots (67%), and engineering machinery (55%) led the gains in the mechanical industry, indicating significant investment opportunities [1][27][25] - The outlook for 2026 suggests continued growth in AI and technology sectors, with engineering machinery expected to maintain an upward trend and domestic demand gradually recovering from the bottom [1][30][39] Group 2 - Domestic economic conditions are currently experiencing a "weak recovery" phase, with fixed asset investment showing a differentiated pattern: manufacturing > infrastructure > real estate [2][30] - The general manufacturing sector is expected to enter a new investment cycle, driven by improved PPI and inventory levels, with a focus on high-end upgrades and stock replacement [39][46] - The export sector is benefiting from the competitive strength of leading Chinese companies, with a notable increase in orders for high-end machinery from Japan, reflecting the active investment in domestic high-end manufacturing [55][56] Group 3 - The AI-driven technology sector is expected to continue its upward trend, with hardware demand and new process iterations accelerating, particularly in AI PCB technology and humanoid robots [3][30][61] - Solid-state battery technology is at a critical juncture, with leading battery companies expanding production capacity, indicating a significant opportunity for battery equipment manufacturers [3][30][61] - Investment recommendations include focusing on technology growth assets such as AI PCB equipment, humanoid robots, and solid-state battery equipment, as well as engineering machinery and general automation sectors [4][61]

该行对中联重科（000157）(01157)及龙工机械(03339)给予"中性"评级，2025至2026年每股盈利增长预 测分别上调至49%、27%及21%、17%;列徐工机械（000425）(000425.SZ)为行业首选，给予"买入"评 级，看好其矿业因业务占比较高、增长强劲且估值吸引。瑞银并将中联重科及龙工机械的目标价分别由 6.4港元及2.2港元，各上调至7.8港元及3.2港元。 瑞银发布研报称，目前对中国建筑机械行业看法较市场预期更为乐观，认为目前行业正处于的上升周 期，将持续至2029年才见顶，而非市场普遍预测的2028至2029年，企业矿业相关业务增长潜力及强劲盈 利韧性尚未完全反映于股价表现，现时估计预测中国设备制造商在矿用卡车及矿用挖掘机的全球份额将 于2030年达到20%以上，而矿业相关业务将可能成为企业另一增长动力。 ...