Financial Performance - Operating revenue for the third quarter was CNY 9,850,240,131.91, a decrease of 13.89% compared to the same period last year[5]. - Total revenue for the current period is RMB 34,385,739,092.48, a decrease of 3.19% from RMB 35,514,132,109.66 in the previous period[13]. - Net profit attributable to shareholders was CNY 850,968,940.78, an increase of 4.42% year-on-year[5]. - Net profit for the current period is RMB 3,492,352,149.85, up 14.06% from RMB 3,062,661,152.45 in the previous period[14]. - Operating profit for the current period is RMB 3,849,982,011.80, an increase of 15.7% compared to RMB 3,326,573,029.08 in the previous period[14]. - Total comprehensive income for the period was RMB 3,154,266,690.45, slightly up from RMB 3,135,707,274.50 in the previous period[15]. - Net income attributable to the parent company was RMB 2,800,930,403.25, down from RMB 2,928,102,551.39 year-over-year[15]. - Basic earnings per share increased to 0.38 from 0.34, while diluted earnings per share rose to 0.37 from 0.34[15]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 128,665,701,749.82, a decrease of 1.68% from the end of the previous year[5]. - Total assets decreased to RMB 128,665,701,749.82 from RMB 130,862,389,408.99, a decline of 1.68%[12]. - Non-current assets totaled RMB 51,067,264,055.30, down from RMB 52,891,229,519.13, a decrease of 3.45%[12]. - Current liabilities decreased to RMB 48,034,817,770.30 from RMB 49,996,417,695.98, a reduction of 3.93%[10]. - The company reported a decrease in total liabilities to RMB 68,511,644,427.31 from RMB 71,695,112,198.09, a decline of 4.06%[11]. - Long-term receivables decreased significantly to RMB 13,008,723,910.16 from RMB 17,001,984,894.22, a decline of 23.41%[9]. Cash Flow - The company's cash flow from operating activities for the year-to-date was CNY 1,207,754,698.86, an increase of 5.74% year-on-year[5]. - Cash inflow from operating activities was RMB 41,976,601,703.23, compared to RMB 40,625,561,453.48 in the previous period[16]. - Cash outflow for purchasing goods and services was RMB 31,660,744,758.48, up from RMB 28,689,111,090.38[16]. - Net cash flow from investing activities was negative RMB 1,630,477,046.13, slightly worse than negative RMB 1,591,582,884.73 in the previous period[16]. - Cash flow from financing activities showed a net outflow of RMB 505,061,294.18, compared to a smaller outflow of RMB 46,946,891.03 last year[17]. - The ending balance of cash and cash equivalents was RMB 12,632,527,356.56, down from RMB 13,321,010,483.88[17]. - The company received RMB 2,683,197,338.31 in tax refunds, significantly higher than RMB 1,697,983,722.58 in the previous period[16]. Revenue Breakdown - Domestic revenue for the year-to-date was CNY 16,742,164,337.17, down 25.54%, while overseas revenue was CNY 17,643,574,755.31, up 35.42%[5]. Shareholder Information - The number of shareholders at the end of the reporting period was reported, with the top ten shareholders holding significant stakes[6]. Construction and Expenditures - The company's construction projects and expenditures increased, leading to a 37.36% rise in construction in progress[7]. - Short-term borrowings decreased by 36.03% due to repayment of maturing short-term loans[7]. - The company reported a significant increase of 3539.74% in asset disposal gains, primarily from the disposal of park storage[7]. Research and Development - Research and development expenses for the current period were RMB 1,857,376,162.39, down from RMB 2,567,568,014.85, a decrease of 27.6%[13]. Capital and Reserves - The capital reserve increased to RMB 19,413,036,051.13 from RMB 18,725,104,258.74, an increase of 3.68%[12].

证券代码：000157 证券简称：中联重科 公告编号：2024-049 号 中联重科股份有限公司 关于聘任高级管理人员的公告 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。 中联重科股份有限公司（以下简称"公司"）于2024年10月30 日召开了第七届董事会2024年度第六次临时会议，审议通过了《关 于聘任高级管理人员的议案》，经公司提名委员会审查，董事会同意 聘任任会礼先生为公司助理总裁，任期至公司第七届董事会任期届 满时止。 任会礼先生不存在《公司法》、《深圳证券交易所股票上市规 则》等法律法规、规范性文件及《公司章程》规定的不得担任高级 管理人员的情形。 上述高级管理人员的简历请见附件。 中联重科股份有限公司 董 事 会 二○二四年十月三十一日 1 附件：简历 任会礼先生：助理总裁，1977年出生。任会礼先生历任本公司中 央研究院技术研究中心主任、中央研究院院长助理，现兼任湖南中联 重科智能高空作业机械有限公司总经理。任会礼先生同时还担任起重 机械关键技术全国重点实验室副主任、中国机械工业标准化技术协会 理事等职务。任会礼先生获评为长沙市高层次人才（省市 ...

Financial Performance - The company's operating revenue for Q3 2024 was ¥9,850,240,131.91, a decrease of 13.89% compared to the same period last year[4]. - Net profit attributable to shareholders for Q3 2024 was ¥850,968,940.78, an increase of 4.42% year-on-year[4]. - The basic earnings per share for Q3 2024 was ¥0.10, reflecting an increase of 11.11% compared to the previous year[4]. - Total operating revenue for Q3 2024 was CNY 34.39 billion, a decrease of 3.18% compared to CNY 35.51 billion in Q3 2023[17]. - Net profit attributable to shareholders of the parent company reached CNY 3.14 billion, up 9.93% from CNY 2.86 billion in the same period last year[18]. - The company reported a gross profit margin of 9.67%, compared to 8.00% in the same quarter last year[17]. - Earnings per share (EPS) for Q3 2024 was CNY 0.38, compared to CNY 0.34 in Q3 2023[18]. Revenue Breakdown - Domestic revenue for the year-to-date period decreased by 25.54% to ¥16,742,164,337.17, while overseas revenue increased by 35.42% to ¥17,643,574,755.31[4]. Assets and Liabilities - Total assets at the end of Q3 2024 were ¥128,665,701,749.82, a decrease of 1.68% from the end of the previous year[4]. - Total assets decreased to CNY 128.67 billion from CNY 130.86 billion year-on-year, a decline of 1.68%[16]. - The total liabilities decreased to CNY 68.51 billion, down 4.06% from CNY 71.70 billion in the previous year[16]. - The company’s total non-current liabilities decreased to CNY 20.48 billion, down from CNY 21.70 billion year-on-year, a decline of 5.61%[16]. Cash Flow - The company's cash flow from operating activities for the year-to-date period was ¥2,190,402,340.30, a decrease of 7.25% year-on-year[4]. - Cash inflow from operating activities reached CNY 41.98 billion, an increase from CNY 40.63 billion in the previous period, reflecting a growth of approximately 3.3%[19]. - Net cash flow from operating activities was CNY 1.21 billion, compared to CNY 1.14 billion in the same period last year, indicating a year-over-year increase of about 5.4%[19]. - Cash outflow from investment activities totaled CNY 4.28 billion, down from CNY 8.55 billion in the previous year, representing a decrease of approximately 50%[19]. - Cash inflow from financing activities was CNY 8.77 billion, a significant decrease from CNY 14.95 billion in the prior year, reflecting a decline of about 41%[20]. - Net cash flow from financing activities was negative at CNY 505 million, compared to a negative CNY 46.95 million in the same period last year[20]. Expenses - The company's management expenses increased by 35.00% primarily due to increased share-based payment expenses related to the employee stock ownership plan[7]. - Research and development expenses for the quarter were CNY 1.86 billion, a significant decrease of 27.53% from CNY 2.57 billion in Q3 2023[17]. - The company reported a total of CNY 722,156,637.89 in equity-settled share-based payment expenses during the period[12]. Asset Management - The company reported a significant increase of 3539.74% in asset disposal income, mainly from the disposal of park storage assets[7]. - Total current assets at the end of the period amounted to CNY 77,598,437,694.52, a slight decrease from CNY 77,971,159,889.86 at the beginning of the period[14]. - Cash and cash equivalents decreased to CNY 14,051,207,289.20 from CNY 15,870,434,751.38[14]. - Accounts receivable increased to CNY 26,542,358,761.93 from CNY 24,612,186,679.56, indicating a growth of approximately 7.8%[14]. - Inventory remained relatively stable at CNY 22,423,614,261.63, compared to CNY 22,503,500,945.99 at the beginning of the period[14]. - The total non-current assets decreased to CNY 66,198,000,000.00 from CNY 66,500,000,000.00, reflecting a slight decline[14]. - The company’s long-term receivables decreased significantly from CNY 17,001,984,894.22 to CNY 13,008,723,910.16, a drop of approximately 23.4%[14]. - The fixed assets increased to CNY 11,178,254,982.18 from CNY 10,935,443,001.80, showing a growth of about 2.2%[14]. Tax and Refunds - The company received CNY 2.68 billion in tax refunds, up from CNY 1.70 billion in the previous year, marking an increase of about 57.5%[19].

监事会对公司 2024 年第三季度报告进行了核实，现发表审核意 见如下： 中联重科股份有限公司监事会 关于公司 2024 年第三季度报告的审核意见 经审核，监事会认为董事会编制和审议公司2024年第三季度报 告的程序符合法律、行政法规及中国证监会的规定，报告内容真实、 准确、完整地反映了上市公司的实际情况，不存在任何虚假记载、误 导性陈述或者重大遗漏。 监事： 颜 梦 玉 熊 焰 明 刘 小 平 中联重科股份有限公司 监 事 会 二○二四年十月三十日 ...

证券代码：000157 证券简称：中联重科 公告编号：2024-047 号 中联重科股份有限公司 第七届董事会 2024 年度第六次临时会议决议公告 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。 1、审议通过了《公司 2024 年第三季度报告》 审议结果：表决票 7 票，赞成票 7 票，反对票 0 票，弃权票 0 票 《公司 2024 年第三季度报告》于 2024 年 10 月 31 日在巨潮资 讯网披露。（公告编号：2024-048） 2、审议通过了《关于聘任高级管理人员的议案》 根据《公司章程》有关规定、公司实际需要及公司首席执行官的 1 一、董事会会议召开情况 1、中联重科股份有限公司（以下简称"公司"）第七届董事会 2024 年度第六次临时会议（以下简称"本次会议"）通知已于 2024 年 10 月 21 日以电子邮件方式向全体董事发出。 2、本次会议于 2024 年 10 月 30 日以通讯表决的方式召开。 3、公司董事詹纯新先生、贺柳先生、王贤平先生、张成虎先生、 黄国滨先生、吴宝海先生、黄珺女士以通讯方式对会议议案进行了表 决。 4、本次会议的 ...

证券代码：000157 证券简称：中联重科 公告编号：2024－046 号 中联重科股份有限公司 关于召开 2024 年度第二次临时股东大会、A 股类别 股东大会和 H 股类别股东大会的通知 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、召开会议的基本情况 （一）股东大会届次：2024年度第二次临时股东大会、A股类 别股东大会和H股类别股东大会 （二）股东大会的召集人：公司董事会 （五）会议的召开方式 本次股东大会采取会议现场投票和网络投票相结合的方式召 开。 《关于召开公司2024年度第二次临时股东大会、A股类别股东 大会和H股类别股东大会的提案》经公司2024年10月17日召开的第 七届董事会2024年度第五次临时会议审议通过。 （三）会议召开的合法、合规性 公司2024年度第二次临时股东大会、A股类别股东大会和H股类 别股东大会的召开符合有关法律、行政法规、部门规章、规范性文 件、深圳证券交易所《股票上市规则》和《中联重科股份有限公司 章程》的规定。 （四）股东大会召开的日期、时间 1、现场会议召开时间：2024年11月11日14:30 2、网络投 ...

Investment Rating - The report maintains a "Buy" rating for the company, indicating a positive outlook for future performance [8][26]. Core Views - The company plans to repurchase and cancel part of its H shares, which is expected to enhance per-share value and improve shareholder returns [5]. - The company's performance is anticipated to continue growing, driven by a recovery in industry sales and an increase in emerging business segments [6][7]. - The company is positioned as a leader in the engineering machinery industry, with significant competitive advantages in crane and concrete machinery [26]. Summary by Sections Company Overview - The company announced a plan to repurchase H shares to enhance investor confidence and increase earnings per share [5]. Industry Performance - In September, the sales of major products showed signs of improvement, with excavators increasing by 10.8%, while other categories experienced varying declines [6]. - The real estate sector is stabilizing, with a slight recovery in sales area and investment completion rates [6]. Financial Projections - Revenue projections for 2024-2026 are estimated at 501.1 billion, 557.2 billion, and 635.7 billion yuan, with year-on-year growth rates of 6.4%, 11.2%, and 14.1% respectively [8][10]. - Net profit is expected to reach 42.1 billion, 51.9 billion, and 65.1 billion yuan for the same period, reflecting growth rates of 20.1%, 23.3%, and 25.3% [8][10]. Emerging Business Growth - The company is rapidly expanding its emerging business segments, with significant growth in earthmoving machinery and high-altitude equipment, contributing to a 20% increase in revenue for earthmoving machinery [7][26]. - The share of emerging business revenue has increased to 40% of total revenue, up from 31.7% in 2023 [7]. Valuation Metrics - The report indicates a price-to-earnings ratio of 14.3, 11.6, and 9.2 for the years 2024, 2025, and 2026 respectively, suggesting a favorable valuation compared to historical performance [8][10].

Investment Rating - The report maintains a "Buy" rating for the company [1] Core Views - The company plans to repurchase up to 10% of its H shares for cancellation, which is expected to enhance earnings per share and improve investor returns, thereby boosting investor confidence [4] - The company is positioned to benefit from a gradual recovery in infrastructure and real estate sectors, supported by loose monetary and fiscal policies [4] - The company has seen significant growth in overseas markets, with overseas revenue increasing by 43.9% year-on-year in the first half of 2024, outpacing domestic revenue which declined by 20.5% [5] - The company is diversifying its product offerings in emerging sectors such as earthmoving machinery, agricultural machinery, and aerial work platforms, which are expected to enhance its competitive edge [6] - The profit forecast for the company is set at 45.06 billion, 56.27 billion, and 68.81 billion yuan for 2024, 2025, and 2026 respectively, with corresponding P/E ratios of 13x, 10x, and 8x [6] Financial Summary - Total revenue for 2022 was 41.631 billion yuan, with a projected increase to 55.117 billion yuan in 2024, reflecting a year-on-year growth of 17.08% [2] - The net profit attributable to the parent company is expected to rise from 3.506 billion yuan in 2023 to 4.506 billion yuan in 2024, representing a growth rate of 28.52% [2] - The latest diluted EPS is projected to increase from 0.40 yuan in 2023 to 0.52 yuan in 2024 [2] - The company's gross margin is expected to improve from 27.54% in 2023 to 28.40% in 2024 [12]

Investment Rating - The report maintains a "Buy" rating for the company, expecting a price increase of 5% to 15% over the next 6 to 12 months [10]. Core Insights - The company announced a share buyback plan to enhance earnings per share and demonstrate confidence in long-term performance [3][4]. - The company reported significant revenue growth in various machinery segments, with excavators and high machines showing increases of 19.89% and 17.75% year-on-year, respectively [4]. - The diversification of revenue sources is evident, with a reduction in reliance on traditional markets, as the share of revenue from the three main grain regions has decreased to around 36% [4]. - The company is focused on high-quality development, with improvements in accounts receivable, inventory, and a decrease in the debt-to-asset ratio [4]. Summary by Sections Financial Performance - The company expects revenues of 50.93 billion, 62.80 billion, and 75.76 billion RMB for 2024, 2025, and 2026, respectively, with net profits projected at 3.89 billion, 5.19 billion, and 6.65 billion RMB [4][7]. - The diluted earnings per share are forecasted to be 0.449, 0.598, and 0.767 RMB for the years 2024, 2025, and 2026 [7]. Operational Analysis - The company plans to repurchase up to 10% of its issued H shares, which will be fully canceled, thereby increasing earnings per share and shareholder returns [4]. - The company has achieved a reduction in accounts receivable and inventory, indicating improved asset quality [4]. Market Position - The company has successfully diversified its market presence, achieving breakthroughs in developed markets such as the EU and North America [4]. - The report highlights the company's commitment to a diversified product strategy, which has helped mitigate cyclical impacts [4].

Investment Rating - The report maintains a "Buy-A" investment rating for the company [2][3] Core Views - The company's share buyback plan is expected to enhance shareholder returns and increase investment value by reducing total share capital and improving earnings per share [1] - Domestic demand is anticipated to recover due to government policies, while the company is expected to maintain strong export growth, particularly in emerging markets [1] - The company is projected to achieve revenue growth of 6.8%, 16.5%, and 17.3% for the years 2024, 2025, and 2026, respectively, with net profit growth of 14.2%, 35.7%, and 23.3% during the same period [2] Financial Projections - Revenue estimates for 2024, 2025, and 2026 are 502.7 billion, 585.6 billion, and 687 billion, respectively [2][9] - Net profit estimates for the same years are 40 billion, 54.3 billion, and 67 billion, respectively [2][9] - The projected price-to-earnings (PE) ratios for 2024, 2025, and 2026 are 15.5X, 11.4X, and 9.2X, respectively [2] Market Performance - The company's market capitalization is approximately 58.32 billion, with a circulating market value of about 47.51 billion [3] - The stock price as of October 17, 2024, is 6.72 yuan, with a 12-month price range of 5.75 to 9.35 yuan [3] Business Dynamics - The company is expected to benefit from a solid market share in traditional businesses and growth from emerging sectors such as earthmoving, aerial, agricultural, and mining machinery [2] - The "end-to-end" direct sales model is aiding the company in expanding its international market presence [2]