Group 1 - The Shanghai Stock Exchange announced the listing of Guangxi Liugong Group Co., Ltd.'s 2025 publicly issued technology innovation corporate bonds for professional investors, starting from December 19, 2025 [1][2] - The bonds will be traded using various methods including matching transactions, click transactions, inquiry transactions, bidding transactions, and negotiated transactions [2] - The bond is designated with the short name "25 Liugong K1" and the security code "244359" [2]

Core Viewpoint - The company held its third extraordinary general meeting of shareholders on December 16, 2025, where several key proposals were approved, including the exclusion of a subsidiary from the consolidated financial statements and the revision of the company's articles of association [1][30]. Meeting Details - The meeting was held on December 16, 2025, at 14:15, with both on-site and online voting options available [3][6]. - A total of 566 shareholders attended, representing 927,594,044 shares, which is 46.8634% of the total voting shares [10]. Voting Results - The proposal to exclude a subsidiary from the consolidated financial statements received 99.9799% approval, with 927,388,504 shares in favor [16]. - The revision of the company's articles of association was approved with 96.5858% support, totaling 895,924,598 shares [18]. - The proposal for the subsidiary to issue preferred shares and provide guarantees was approved with 99.8939% support, totaling 926,609,564 shares [20]. Related Transactions - The meeting included discussions on expected daily related transactions for 2026, with significant support for proposals related to transactions with the controlling shareholder and joint ventures [22][23][24]. Legal Compliance - The meeting's procedures were confirmed to comply with relevant laws and regulations, ensuring the legitimacy of the voting process and the qualifications of attendees [28]. Board Election - The company elected Li Yuning as the employee representative director, who meets all legal and regulatory requirements for the position [30][31].

Group 1 - The core point of the article is that LiuGong has announced the election of Mr. Li Yuning as the employee representative director of the company's tenth board of directors [2]

Group 1 - Guangxi Liugong Group Co., Ltd. issued a 3 billion yuan technology innovation corporate bond aimed at professional investors on the Shanghai Stock Exchange [1] - The bond, named "25 Liugong K1," has a term of 3 years and a coupon rate of 2.29% [1] - This issuance marks the first technology innovation bond in Guangxi used for QFLP fund contributions [1]

证券代码：000528 证券简称：柳 工 公告编号：2025-97 债券代码：127084 债券简称：柳工转2 广西柳工机械股份有限公司 关于选举公司职工代表董事的公告 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。 为完善公司治理结构、保障公司有效决策和平稳发展，广西柳工机械股份有限公司（以 下简称"公司"）根据《中华人民共和国公司法》（以下简称"《公司法》"）《深圳证 券交易所股票上市规则》《深圳证券交易所上市公司自律监管指引第 1 号——主板上市公 司规范运作》等法律法规、规范性文件及《公司章程》的有关规定，于 2025 年 12 月 16 日召开了第十届职工代表大会第十二次代表团长联席会议，经全体与会职工代表审议表 决，选举李于宁先生为公司第十届董事会职工代表董事。 广西柳工机械股份有限公司董事会 2025 年 12 月 17 日 第 1页，共 2页 李于宁先生符合《公司法》等法律法规和《公司章程》规定的任职条件，将与公司 2025 年 5 月 20 日召开的 2024 年度股东大会选举产生的 7 名非独立董事、4 名独立董事共 同组成公司第十届董事会 ...

上海礼辉律师事务所 关于广西柳工机械股份有限公司 2025 年第三次临时股东会的 法律意见书 二〇二五年十二月 地址：上海市黄浦区淮海中路 918 号久事复兴大厦 10 楼 A 座 邮编：200020 电话：021-64338299 上海礼辉律师事务所 关于广西柳工机械股份有限公司 2025 年第三次临时股东会的 法律意见书 致：广西柳工机械股份有限公司 上海礼辉律师事务所（下称"本所"）接受广西柳工机械股份有限公司 （下称"公司"）委托，根据《中华人民共和国公司法》（下称《公司法》）、 《上市公司股东会规则》（下称《股东会规则》）等现行有效的法律、行政法 规、规章、规范性文件及《广西柳工机械股份有限公司章程》（下称《公司章 程》）的有关规定，指派律师现场出席了公司于 2025 年 12 月 16 日召开的 2025 年第三次临时股东会（下称"本次股东会"），并就本次股东会相关事项出具 本法律意见书。 为出具本法律意见书，本所律师审查了公司提供的以下文件，包括但不限 于： 1. 现行有效的《公司章程》； 2. 2025 年 11 月 29 日，公司刊登于深圳证券交易所网站的《广西柳工机械 股份有限公司第十届董 ...

1. 召开时间： （1）现场会议时间：2025 年 12 月 16 日（星期二）14 时 15 分。 （2）网络投票时间：2025 年 12 月 16 日。 通过深圳证券交易所互联网投票系统投票的时间：2025 年 12 月 16 日 9:15~15:00。 债券代码：127084 债券简称：柳工转2 证券代码：000528 证券简称：柳 工 公告编号：2025-96 广西柳工机械股份有限公司 2025 年第三次临时股东会决议公告 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。 特别提示： 一、会议召开的情况 柳工 2025 年第三次临时股东会决议公告 二、会议出席情况 1. 会议总体出席情况 通过现场和网络投票的股东 566 人，代表股份 927,594,044 股，占公司有表决权股份 总数的 46.8634%。（截至本次股东会股权登记日 2025 年 12 月 11 日，公司总股本为 2,034,588,775 股，公司回购专用证券账户持有公司股份 55,230,950 股，上述股份不享 有表决权，故本次股东会有表决权股份总数为 1,979,357,825 ...

Group 1 - The mechanical sector has shown strong performance in 2025, with the Shenwan Mechanical Equipment Index rising by 36.11%, outperforming the Shanghai Composite Index by 19.74 percentage points and the Shenzhen Component Index by 8.78 percentage points [4][16][19] - In the first three quarters of 2025, the mechanical industry reported revenues of 15,135.34 billion yuan, a year-on-year increase of 7.35%, and a net profit attributable to shareholders of 1,080.76 billion yuan, up 16.80% year-on-year [4][22][27] - The public fund allocation ratio for the mechanical equipment sector increased by 0.25 percentage points in Q3 2025 compared to Q3 2024, indicating improved fundamentals and positive policy impacts [29] Group 2 - The equipment manufacturing industry has maintained export resilience, with significant growth in new overseas markets. From January to October 2025, the export delivery value of general equipment, specialized equipment, and transportation equipment reached 6,173.20 billion yuan, 5,319.30 billion yuan, and 4,124 billion yuan respectively, with year-on-year growth rates of 5.5%, 9.3%, and 24.20% [5][33][36] - The overseas sales of engineering machinery continued to grow, with a year-on-year increase of 11.84% in export value from January to October 2025, driven by technological innovation and diversified market strategies [37][41] - The motorcycle industry has established a strong competitive advantage in overseas markets, with exports reaching 1,101.85 million units and 7.278 billion USD in value from January to October 2025, reflecting a year-on-year increase of 22.28% and 28.2% respectively [42][43] Group 3 - The emergence of new manufacturing scenarios signifies a profound transformation from "single technology upgrades" to "systematic ecological restructuring," enhancing production efficiency, product quality, and innovation capabilities [5][46] - Human-shaped robots are expected to address customization challenges in traditional manufacturing, with a market space projected to expand significantly as they transition from industrial applications to household use [47][54] - The intelligent logistics equipment market in China is expected to grow rapidly, with a projected market size of 1,261 billion yuan in 2025, driven by advancements in IoT and AI technologies [64][72]

12月11日，张宏宇参赞衔领事陪同秦杰总领事走访2025年印度班加罗尔国际工程机械展参展中资企业， 同三一、中联重科（000157）、徐工、柳工（000528）、潍柴等参展中资企业负责人进行交流。 ...

Summary of Conference Call Records Industry Overview - The engineering machinery industry is entering its third cycle, expected to start in September 2024 and last for five years, currently in its first year. The market is benefiting from the second-hand machinery and mining excavator sectors, with an anticipated valuation switch next year leading to a 25%-30% return. Leading blue-chip stocks are expected to show strong certainty, while low-valuation stocks have greater elasticity [1][3] Key Insights and Arguments - In 2025, the shipbuilding sector's new order volume is projected to decline by 45% year-on-year, but falling steel prices are reducing shipyard costs, thereby enhancing profitability. Global ship delivery capacity is approximately 120 million deadweight tons, aligning well with order volumes, indicating a positive outlook for the sector. Some private enterprises have already reported performance improvements [1][5] - The offshore engineering sector is benefiting from US dollar interest rate cuts, which are expected to ease high-debt projects. The rising industry sentiment is creating opportunities for replenishment [1][5] - The cyclical sector is viewed more optimistically compared to the growth sector, which has seen significant valuation increases. The company maintains that growth remains a core theme while being more positive about the cyclical sector [2][3] Additional Important Content - The cyclical sector's certainty is lower than that of engineering machinery and shipbuilding, with unclear domestic market conditions. However, companies related to humanoid robots are experiencing high valuations. The potential for valuation increases in low-positioned stocks is significant, but their ability to sustain current valuations depends on the progress of humanoid robot market dynamics and overall recovery [1][6] - The AI industry chain, particularly humanoid robots, is a key focus area. Breakthroughs in self-iterative data capabilities could lead to a significant advancement in human-machine interfaces. Other vertical applications such as smart sewing machines, smart welding, unmanned agricultural machinery, and mining trucks, as well as data centers and computing power centers, are also clear beneficiaries. The AI industry chain continues to accelerate without visible ceilings [1][7] Recommended Stocks - In the engineering machinery sector, recommended stocks include SANY Heavy Industry, XCMG, Zoomlion, LiuGong, and Hengli Hydraulic. For beneficiaries of US dollar interest rate cuts, China International Marine Containers (CIMC) is recommended. In the AI vertical application space, Czech Aviation is highlighted, while in the humanoid robot sector, Weichuang Electric and Hengli are recommended. Additionally, companies in the photovoltaic lithium battery sector such as Aotewi and New Navigation are included [1][8]