每经AI快讯，9月19日，中联重科(01157.HK)涨超3%，截至发稿，涨3.55%，报7.01港元，成交额 9636.21万港元。 ...

消息面上，汇丰研究发表研究报告指，中联重科国内销售于7月至8月出现起色，在低基数的基础上分别 增长10%及20%，预期下半年国内及海外销售将分别增长2%及15%，并预测中联重科下半年净利润可增 长65%，主要受惠于利润率较高的海外业务持续增长及股份酬金成本减少。汇丰研究认为，中联重科当 前估值水平的风险回报具吸引力，可受到国内市场复苏、海外业务扩张、吸引股息回报及人形机械人主 题等利好因素的支持。 据中联重科公众号披露，9月14日至16日，以"AI领航畅想湘江"为主题的2025互联网岳麓大会在长沙举 行。中联重科中科云谷技术团队通过自主研发，在现场正式发布云谷具身智能大模型和工具链。据悉， 本次大会会场还设置了机器人体验中心，中联重科共展示五款人形机器人，在迎宾、行走表演、物流分 拣、装配、生活五大模拟场景应用展示研发成果实景。 中联重科（000157）(01157)涨超3%，截至发稿，涨3.55%，报7.01港元，成交额9636.21万港元。 ...

据中联重科公众号披露，9月14日至16日，以"AI领航 畅想湘江"为主题的2025互联网岳麓大会在长沙举 行。中联重科中科云谷技术团队通过自主研发，在现场正式发布云谷具身智能大模型和工具链。据悉， 本次大会会场还设置了机器人体验中心，中联重科共展示五款人形机器人，在迎宾、行走表演、物流分 拣、装配、生活五大模拟场景应用展示研发成果实景。 智通财经APP获悉，中联重科(01157)涨超3%，截至发稿，涨3.55%，报7.01港元，成交额9636.21万港 元。 消息面上，汇丰研究发表研究报告指，中联重科国内销售于7月至8月出现起色，在低基数的基础上分别 增长10%及20%，预期下半年国内及海外销售将分别增长2%及15%，并预测中联重科下半年净利润可增 长65%，主要受惠于利润率较高的海外业务持续增长及股份酬金成本减少。汇丰研究认为，中联重科当 前估值水平的风险回报具吸引力，可受到国内市场复苏、海外业务扩张、吸引股息回报及人形机械人主 题等利好因素的支持。 ...

Core Insights - AnchorX has launched AxCNH, the world's first offshore RMB stablecoin with regulatory approval, aimed at facilitating cross-border transactions [1][2] - The stablecoin is designed to enhance cross-border payment and trade settlement for offshore Chinese enterprises [2] - AxCNH has been tested on the Conflux blockchain and will be listed on the licensed cryptocurrency exchange ATAIX in Kazakhstan, initially available only to professional investors [3] Group 1: Product Launch and Purpose - AnchorX has officially announced the issuance of AxCNH in Hong Kong, marking a significant milestone in the stablecoin market [1] - The primary goal of AxCNH is to provide a new payment settlement tool for cross-border transactions, particularly for Chinese enterprises operating offshore [2] Group 2: Partnerships and Applications - AnchorX has signed memorandums of understanding with several companies, including major players like Zoomlion and Lenovo, to explore applications of AxCNH in cross-border payments, trade settlements, and digital asset transactions [2] - The collaboration with Zoomlion is particularly noteworthy, as the company reported overseas revenue of 23.4 billion RMB in 2024, accounting for over 50% of its total revenue [2] Group 3: Trading and Accessibility - AxCNH will be listed on the ATAIX exchange, offering trading pairs with KZT (Kazakhstani Tenge) and USDT [3] - Currently, trading of AxCNH is restricted to professional clients, reflecting a cautious approach to market entry [3]

Group 1 - The article highlights the concept of "excellence-level smart factories" as the pinnacle of intelligent manufacturing in China, showcasing their advanced automation and smart manufacturing standards [1][21] - These factories utilize a large number of industrial robots, with nearly 1,000 robots operating across 60 highly flexible production lines, handling all six core processes of excavator production [7][21] - The integration of a "smart brain" developed by the factory enables seamless coordination among robots, likened to a giant symphony orchestra, enhancing operational efficiency [7][21] Group 2 - The introduction of humanoid robots as "apprentices" in the factory signifies the evolution of workforce capabilities, with these robots undergoing training to perform various tasks [8][10] - The training platform for humanoid robots includes nearly 100 workstations for data collection and skill training, ensuring they can adapt to different work environments [13] - The collaboration between industrial and humanoid robots aims to transition from mass production to personalized manufacturing, creating a new model of intelligent factories [13] Group 3 - The article emphasizes the importance of data-driven decision-making in enhancing manufacturing quality and efficiency, particularly in high-precision sectors like high-speed rail [14][20] - A specific example is provided where a smart manufacturing workshop produces train wheels, achieving a production efficiency increase of 20% and a reduction in labor input by 30% [20][23] - The overall impact of these smart factories includes a significant reduction in product development cycles by 28.4%, an increase in production efficiency by 22.3%, and a decrease in defect rates by 50.2% [23][25] Group 4 - The current density of robots in China's manufacturing sector stands at 470 units per 10,000 people, surpassing the global average, indicating a significant advancement in automation [25] - The article notes that over 230 excellence-level smart factories have been established across 31 provinces, covering more than 80% of major manufacturing sectors in China [21][23] - The integration of artificial intelligence throughout the entire production process is highlighted as a key factor in enhancing competitiveness and setting a benchmark for industry transformation [21][23]

Market Performance - The engineering machinery sector increased by 2.81% on September 17, with Wantong Hydraulic leading the gains [1] - The Shanghai Composite Index closed at 3876.34, up 0.37%, while the Shenzhen Component Index closed at 13215.46, up 1.16% [1] Individual Stock Performance - Wantong Hydraulic (code: 830839) closed at 45.91, up 12.41% with a trading volume of 50,300 shares and a turnover of 221 million yuan [1] - Changling Hydraulic (code: 605389) closed at 53.37, up 10.00% with a trading volume of 27,100 shares [1] - Hangcha Group (code: 603298) closed at 28.85, up 8.09% with a trading volume of 180,100 shares and a turnover of 506 million yuan [1] - Zhonglian Heavy Industry (code: 000157) closed at 7.71, up 4.76% with a trading volume of 2,696,700 shares and a turnover of 2.043 billion yuan [1] Capital Flow Analysis - The engineering machinery sector saw a net inflow of 197 million yuan from institutional investors, while retail investors experienced a net outflow of 75.92 million yuan [2] - The main stocks with significant net inflows included Zhonglian Heavy Industry with 202 million yuan and Zhejiang Dingli with 89.57 million yuan [3] Summary of Stock Movements - The overall performance of the engineering machinery sector indicates a positive trend, with several key players showing substantial gains in both stock price and trading volume [1][2] - The capital flow data suggests a strong interest from institutional investors, contrasting with the outflows from retail investors, indicating a potential shift in market sentiment [2][3]

Group 1 - Zhonglian Heavy Industry (中联重科) shares rose nearly 7%, reaching a four-year high of 6.95 HKD, with a trading volume of 145 million HKD [1] - The first articulated truck-mounted crane was successfully delivered to a customer in Slovakia from Zhonglian's German subsidiary, Wilbert [1] - The company has established new factories in Hungary and Germany, enhancing its European manufacturing network to improve local supply efficiency and market responsiveness [1] Group 2 - According to Huaxi Securities, Zhonglian Heavy Industry reported overseas revenue of 13.81 billion CNY, a year-on-year increase of 14.78%, with overseas revenue accounting for 55.6% of total revenue, marking a historical high [1] - The company is continuously improving its "end-to-end, digital, localized" overseas business system, expanding its business footprint through direct sales and leveraging big data to enhance operational efficiency [1] - Zhonglian Heavy Industry is expected to achieve revenue growth in emerging markets through a multi-category approach [1]

Core Viewpoint - The successful delivery of the first articulated truck-mounted crane from Zoomlion's German subsidiary Wilbert marks a significant milestone in expanding its European manufacturing network and enhancing local supply efficiency [3] Group 1: Company Developments - Zoomlion has established new factories in Hungary and Germany, aiming to strengthen its high-end equipment manufacturing capabilities in Europe [3] - The company reported overseas revenue of 13.81 billion yuan, a year-on-year increase of 14.78%, with overseas revenue accounting for 55.6% of total revenue, reaching a historical high [3] Group 2: Market Strategy - Zoomlion is enhancing its "end-to-end, digital, localized" overseas business system to improve operational efficiency and market responsiveness [3] - The company is leveraging a direct sales model and big data platforms to expand its business footprint and drive sales growth [3]

Core Viewpoint - The article highlights the advancements in smart factories in China, particularly focusing on the "卓越级" (Excellence Level) smart factories that represent the pinnacle of intelligent manufacturing, showcasing the integration of robotics and data-driven decision-making in production processes [1][27]. Group 1: Smart Factory Features - The smart factory is categorized into four levels: basic, advanced, excellence, and pioneering, with the excellence level being the highest standard of intelligent manufacturing [1]. - The factory utilizes nearly 1,000 industrial robots across 60 highly flexible production lines, handling all six core processes of excavator production, achieving millimeter-level precision and 24-hour unmanned operation [4][26]. - The factory operates under a "black light factory" model, where robots autonomously manage material logistics and production tasks, creating a fully automated production system [4][12]. Group 2: Robotics and Automation - Industrial robots are equipped with advanced features, such as flexible mechanical arms and multiple sensors, allowing them to perform complex tasks with high accuracy and speed, reducing the need for human intervention [2][4]. - The factory has introduced humanoid robots as "apprentices," which are undergoing training to enhance their capabilities in various tasks, including sorting and assembly [10][12]. - A training facility with nearly 100 workstations has been established to facilitate large-scale data collection and skill training for humanoid robots, ensuring they can adapt to different work environments [12]. Group 3: Data-Driven Decision Making - The smart factory employs a comprehensive data-driven approach, enabling real-time monitoring and optimization of every production step, from raw material inspection to final product quality verification [19][24]. - The integration of artificial intelligence allows for intelligent decision-making throughout the entire production process, enhancing operational efficiency and product quality [29]. - The factory has achieved significant improvements, including a 20% increase in production efficiency, a 30% reduction in labor input, and a 5-day average reduction in manufacturing cycle time [26][32]. Group 4: Industry Impact - The establishment of over 230 excellence-level smart factories across China signifies a major shift towards intelligent manufacturing, covering more than 80% of major manufacturing sectors [27][31]. - These factories have demonstrated substantial improvements in product development cycles, production efficiency, defect rates, and carbon emissions, showcasing the effectiveness of smart manufacturing practices [32].

华西证券指出，根据中联重科2025年中报，公司实现海外收入138.1亿元，同比增长14.78%，且海外收 入占比已经达到55.6%，达到历史新高。公司持续完善"端对端、数字化、本土化"海外业务体系。借助 端对端直销模式拓宽业务版图，依托大数据平台提升运营效能，凭借航空港资源赋能销售增长，全力打 造全球市场拓展的崭新格局。该行看好公司长期的出海发展，在新兴市场有望通过多品类带来储蓄收入 增长。 消息面上，近日，在中联重科德国子公司威尔伯特工厂，首台折臂式随车起重机成功下线并交付斯洛伐 克客户。据悉，近年来，除德国威尔伯特工厂项目外，中联重科今年新建了匈牙利高机工厂、德国二期 工厂，通过加速完善覆盖多品类高端装备的欧洲制造网络，提升本地化供应效率与市场响应速度，为进 一步拓展欧洲市场奠定了坚实基础。 智通财经APP获悉，中联重科(01157)午后涨近7%，高见6.95港元创四年新高。截至发稿，涨6.62%，报 6.93港元，成交额1.45亿港元。 ...