Core Viewpoint - Zoomlion Heavy Industry Science and Technology Co., Ltd. has announced the acquisition of 81% of the registered capital of Zoomlion Heavy Industry Finance Leasing (Beijing) Co., Ltd., which has received approval from the Beijing Local Financial Supervision Administration [1] Group 1 - The board of directors has confirmed that the acquisition has been approved and the business registration changes were completed on December 5, 2025 [1] - Following the completion of the registration changes, the target company will become a wholly-owned subsidiary of Zoomlion, and its financial performance will be consolidated into the company's financial statements [1]

格隆汇12月8日丨中联重科(01157.HK)发布公告，关于收购中联重科融资租赁(北京)有限公司注册股本总 共81%的公告，收购事项已获得北京市地方金融管理局的批准，目标公司已于2025年12月5日完成了本 次股权转让的工商变更登记事宜。自完成上述变更登记之后，目标公司成为公司的全资附属公司，其业 绩也将合并入公司的财务报表。 ...

智通财经APP讯，中联重科(01157)发布公告，关于收购中联重科融资租赁(北京)有限公司注册股本总共 81%，收购事项已获得北京市地方金融管理局的批准，目标公司已于2025年12月5日完成了本次股权转 让的工商变更登记事宜。自完成上述变更登记之后，目标公司成为公司的全资附属公司，其业绩也将合 并入公司的财务报表。 ...

中联重科（000157）(01157)发布公告，关于收购中联重科融资租赁(北京)有限公司注册股本总共81%， 收购事项已获得北京市地方金融管理局的批准，目标公司已于2025年12月5日完成了本次股权转让的工 商变更登记事宜。自完成上述变更登记之后，目标公司成为公司的全资附属公司，其业绩也将合并入公 司的财务报表。 ...

格隆汇12月8日丨中联重科(01157.HK)发布公告，关于收购中联重科融资租赁(北京)有限公司注册股本总 共81%的公告，收购事项已获得北京市地方金融管理局的批准，目标公司已于2025年12月5日完成了本 次股权转让的工商变更登记事宜。自完成上述变更登记之后，目标公司成为公司的全资附属公司，其业 绩也将合并入公司的财务报表。 ...

Investment Rating - The report assigns a "Buy" rating to key companies in the mining machinery sector, including SANY Heavy Industry, Zoomlion, and Weichai Power, indicating strong growth potential in the upcoming years [5][4]. Core Insights - The mining machinery sector, particularly large mining excavators and trucks, is expected to be a major growth area for Chinese engineering machinery manufacturers in 2026, driven by high global capital expenditure in mining and increasing demand for Chinese brand equipment due to domestic companies expanding overseas [2][4]. - The report forecasts a 70% increase in global demand for backup generator sets for data centers from 2025 to 2030, presenting significant opportunities for Weichai Power [2][4]. - The report highlights that the replacement cycle for construction equipment in China is ongoing, with specific growth expected in the automotive crane sector starting in 2026, driven by energy construction demands [4][2]. Summary by Sections Mining Machinery - Global mining capital expenditure is projected to remain high, with a 16% year-on-year growth expected in 2025, and continued growth in 2026, driven by rising demand for energy-related metals and aging equipment needing replacement [12][25]. - Chinese brands are increasingly penetrating the large mining machinery market, traditionally dominated by international giants like Caterpillar and Komatsu, by enhancing product offerings and after-sales service networks [4][12]. - Africa and Brazil are identified as key markets for Chinese mining machinery, with increasing import shares from China surpassing those from the U.S. in recent years [4][46]. Equipment Replacement Cycle - The report anticipates that the replacement cycle for earth-moving machinery will continue, with excavators and wheel loaders seeing sustained demand [4][68]. - The upcoming Yaxia hydropower project in China is expected to significantly boost demand for construction machinery, with an estimated annual investment of approximately 24 billion RMB in related machinery [67][68]. Data Center Power Equipment - The demand for backup diesel generator sets is expected to grow significantly, with the market size projected to expand from approximately 4 billion USD in 2025 to about 6.8 billion USD by 2030, reflecting a growth rate exceeding 70% [4][2]. - Weichai Power is positioned to capitalize on this growth, focusing on the backup power segment for data centers [4][2]. Company-Specific Insights - SANY Heavy Industry aims to increase its sales of large mining trucks from 22% in 2024 to 40% in 2025 and 55% in 2026, indicating a strategic shift towards larger equipment [32][38]. - The report emphasizes the potential for after-market services in the mining equipment sector, which can provide sustainable revenue growth as the installed base of equipment increases [43][4].

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） 收購附屬公司完成 茲提述中聯重科股份有限公司（「本公司」）於2025年5月20日、2025年5月28日及 2025年6月4日關於收購中聯重科融資租賃（北京）有限公司註冊股本總共81%的公 告（「該等公告」）。除文義另有所指外，本公告所用詞彙與該等公告所界定者具有 相同涵義。 董事會欣然宣佈，收購事項已獲得北京市地方金融管理局的批准，目標公司已於 2025年12月5日完成了本次股權轉讓的工商變更登記事宜。自完成上述變更登記 之後，目標公司成為本公司的全資附屬公司，其業績也將合併入本公司的財務報 表。 承董事會命 中聯重科股份有限公司 董事長 詹純新 中國長沙，2025年12月8日 於本公告刊發日期，本公 ...

证券代码：000157 证券简称：中联重科 公告编号：2025－056 号 中联重科股份有限公司（以下简称"公司"或"中联重科"）于 2025 年 5 月 20 日召开第七届董事会 2025 年度第二次临时会议、第 七届监事会 2025 年度第二次临时会议，审议通过了《关于以公开摘 牌方式购买北京租赁股权暨关联交易的议案》，同意公司通过公开竞 价摘牌方式分别购买湖南兴湘投资控股集团有限公司（以下简称"兴 湘集团"）、湖南迪策投资有限公司（以下简称"迪策投资"）挂牌转 让的中联重科融资租赁（北京）有限公司（以下简称"北京租赁公司"） 45%、36%股权，挂牌转让底价分别为 90,405.01 万元、72,324.01 万元。根据公司董事会的授权，公司向湖南省联合产权交易所（以下 简称"湖南联交所"）提交了兴湘集团、迪策投资分别所持北京租赁 1 公司 45%、36%股权的摘牌申请。2025 年 5 月 28 日，公司与兴湘 集团签署《产权交易合同》，股权转让价款为 90,405.01 万元。2025 年 6 月 4 日，公司与迪策投资签署《产权交易合同》，股权转让价款 为 72,324.01 万元。详细内容见本公 ...

招银国际环球市场 | 市场策略 | 招财日报 每日投资策略 行业及公司点评 全球市场观察 2025 年 12 月 8 日 1 中国股市上涨，港股原材料、金融与工业领涨，综合、公用事业与必选消费 下跌，南向净买入 13.4 亿港元，小米与美团净买入最多，阿里与腾讯净卖出 居前。A 股非银金融、有色金属与工贸综合涨幅居前，银行、煤炭与电信服 务跑输市场。A 股券商板块大涨，中国证监会主席表示鼓励头部机构通过并 购重组打造国际一流投行，将对优质券商适度松绑打开资本空间与杠杆限制， 鼓励中小机构打造小而美的精品投行、特色投行和特色服务商；保险板块大 涨，保险公司投资资本市场的风险因子再度下调，显示监管机构鼓励险资等 长期资本入市的态度。 美股上涨，通讯服务、信息技术与可选消费涨幅居前，公用事业、能源与医 疗保健跌幅最大。戴尔、联想、惠普等主要 OEM 厂商计划大幅提高服务器 价格，因供应很难跟上快速增长的需求。微软与博通商谈定制芯片设计合作， 可能替换现有供应商 Marvell，以降低对英伟达依赖。随着 AI 产品创新，定 制芯片需求激增，科技公司寻求供应链多元化以降低风险与成本。 美债收益率升至两周新高，美元指数转 ...

Core Viewpoint - The article highlights the achievements of Zoomlion Heavy Industry Science and Technology Co., Ltd. in establishing a leading intelligent manufacturing factory for excavators, showcasing significant advancements in production efficiency and innovative shared manufacturing models [1][4][7]. Group 1: Intelligent Manufacturing Achievements - The excavator factory has been recognized as one of the first 15 pilot-level intelligent factories in China, achieving a production cycle of just 6.5 days from steel plate to complete machine, with an excavator rolling off the line every 6 minutes [1][8]. - The factory employs over 61 highly flexible intelligent production lines, with an automation rate exceeding 85%, and has implemented a comprehensive data collection and traceability system [2][3]. - The use of advanced robotics and automated guided vehicles (AGVs) has streamlined operations, reducing production times significantly, such as cutting down the logistics time from 30 minutes to 9 minutes [3][4]. Group 2: Shared Manufacturing Model - Zoomlion has developed a unique collaborative shared manufacturing model that integrates multiple factories, allowing for resource optimization and improved material utilization rates exceeding 90% [5][6]. - The factory's design allows for cross-product collaboration, enabling rapid response to fluctuating market demands by reallocating excess capacity among different product lines [5][6]. - The shared model has led to a 15% reduction in construction costs and enhanced the company's resilience against market fluctuations [5][6]. Group 3: Transformation of Business Model - The factory has shifted from a traditional "produce to stock" model to a more responsive "produce to order" model, allowing for customized production based on real-time customer demands [7][8]. - This transformation enables the factory to fulfill personalized orders within two weeks, providing a competitive edge in the market [7][8]. - The experience gained from this intelligent manufacturing setup is being shared globally, with over 20 intelligent factories and 200 production lines adopting similar solutions [7][9]. Group 4: Future Directions - Zoomlion plans to further integrate artificial intelligence and robotics into its manufacturing processes, aiming to enhance the application of smart technologies in industrial settings [8][9]. - The company is committed to continuous innovation in common technologies and processes, expanding its shared production model across its entire range of excavators [9].