人民财讯1月27日电，柳工（000528）1月27日发布业绩预告，预计2025年净利润15.26亿元—16.59亿 元，同比增长15%—25%。报告期内，国内工程机械尤其是土方机械需求受行业周期性及宏观政策影 响，在上年度筑底反弹的基础上稳定增长，国际工程机械市场整体也呈现企稳复苏态势。公司坚持"全 面解决方案、全面数智化、全球化"的新"三全"战略，通过创新国际国内双循环发展模式、统筹推进业 务组合优化、全价值链降本增效等措施，实现收入及利润双增长。 ...

广西柳工机械股份有限公司 2025 年年度业绩预告 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。 一、本期业绩预计情况 1、业绩预告期间：2025 年 1 月 1 日至 2025 年 12 月 31 日 2、预计的经营业绩：同向上升 | 项目 | | 本报告期 | | | 上年同期 | | | --- | --- | --- | --- | --- | --- | --- | | 归属于上市公司 股东的净利润 | 盈利：152,609.54 | | 万元–165,879.94 | 万元 | 盈利：132,703.95 | 万元 | | | | | 比上年同期增长：15%–25% | | | | | 归属于上市公司 股东扣除非经常 | 盈利：132,274.28 | | 万元–145,544.68 | 万元 | 盈利：113,781.13 | 万元 | | 性损益的净利润 | | | 比上年同期增长：16%–28% | | | | | 基本每股收益 | 盈利： 0.7565 | | 元/股–0.8223 | 元/股 | 盈利：0.6824 | 元/股 | 二、 ...

柳州柳工挖掘机有限公司，成立于2006年，位于柳州市，是一家以从事专用设备制造业为主的企业。企 业注册资本92218.47万人民币。通过天眼查大数据分析，柳州柳工挖掘机有限公司共对外投资了2家企 业，参与招投标项目100次，专利信息834条，此外企业还拥有行政许可226个。 广西柳工机械股份有限公司，成立于1993年，位于柳州市，是一家以从事专用设备制造业为主的企业。 企业注册资本203220.0321万人民币。通过天眼查大数据分析，广西柳工机械股份有限公司共对外投资 了39家企业，参与招投标项目1371次，财产线索方面有商标信息27条，专利信息3062条，此外企业还拥 有行政许可516个。 国家知识产权局信息显示，柳工常州机械有限公司、柳州柳工挖掘机有限公司、广西柳工机械股份有限 公司取得一项名为"动臂回转装置和挖掘机"的专利，授权公告号CN117344812B，申请日期为2023年10 月。 天眼查资料显示，柳工常州机械有限公司，成立于2010年，位于常州市，是一家以从事专业技术服务业 为主的企业。企业注册资本53000万人民币。通过天眼查大数据分析，柳工常州机械有限公司参与招投 标项目122次，专利信息 ...

截至9月30日，柳工股东户数10.08万，较上期增加26.20%；人均流通股20140股，较上期减少20.29%。 2025年1月-9月，柳工实现营业收入257.60亿元，同比增长12.71%；归母净利润14.58亿元，同比增长 10.37%。 分红方面，柳工A股上市后累计派现51.02亿元。近三年，累计派现11.22亿元。 机构持仓方面，截止2025年9月30日，柳工十大流通股东中，香港中央结算有限公司位居第二大流通股 东，持股8028.94万股，相比上期增加1423.55万股。南方中证500ETF（510500）位居第五大流通股东， 持股2348.34万股，相比上期减少49.44万股。嘉实价值长青混合A（010273）位居第七大流通股东，持 股1949.48万股，相比上期减少151.05万股。嘉实港股优势混合A（010041）位居第八大流通股东，持股 1799.44万股，相比上期减少135.38万股。嘉实价值精选股票A（005267）位居第九大流通股东，持股 1725.96万股，相比上期减少667.94万股。 责任编辑：小浪快报 资金流向方面，主力资金净流出6157.90万元，特大单买入1730.18万元 ...

国家知识产权局信息显示，柳州柳工挖掘机有限公司;柳工常州机械有限公司;广西柳工机械股份有限公 司申请一项名为"针对挖掘机的液压泵智能化控制方法及装置"的专利，公开号CN121382602A，申请日 期为2025年11月。 声明：市场有风险，投资需谨慎。本文为AI基于第三方数据生成，仅供参考，不构成个人投资建议。 来源：市场资讯 柳工常州机械有限公司，成立于2010年，位于常州市，是一家以从事专业技术服务业为主的企业。企业 注册资本53000万人民币。通过天眼查大数据分析，柳工常州机械有限公司参与招投标项目122次，专利 信息1207条，此外企业还拥有行政许可42个。 广西柳工机械股份有限公司，成立于1993年，位于柳州市，是一家以从事专用设备制造业为主的企业。 企业注册资本203220.0321万人民币。通过天眼查大数据分析，广西柳工机械股份有限公司共对外投资 了39家企业，参与招投标项目1370次，财产线索方面有商标信息27条，专利信息3062条，此外企业还拥 有行政许可516个。 专利摘要显示，本发明涉及挖掘机控制技术领域，公开了针对挖掘机的液压泵智能化控制方法及装置， 包括：确定目标挖掘机的液压泵压力信 ...

Core Insights - The article discusses the rapid growth and potential of the unmanned forklift industry in China, highlighting both advantages and disadvantages of unmanned forklifts [1][4]. Group 1: Product Advantages and Disadvantages - Unmanned forklifts are efficient, flexible, save labor costs, and allow for real-time monitoring [3]. - However, they are more expensive than traditional forklifts, have limited applicability in complex environments, and incur higher maintenance costs [3]. Group 2: Market Landscape - There are over 100 companies involved in the unmanned forklift sector in China, including established traditional forklift manufacturers and emerging robotics companies [4]. - Key players include Hangcha Group, Anhui Heli, and new entrants like Future Robotics and Hikvision Robotics, each offering a variety of unmanned forklift products [5]. Group 3: Sales and Market Size - Unmanned forklift sales in China are on a rapid upward trend, reaching approximately 5,000 units in 2020, surpassing 10,000 units in 2022, and projected to reach 24,500 units in 2024, representing a year-on-year growth of 25.64% [6]. - The market size for unmanned forklifts in China is around 5 billion yuan, with the industry expected to exceed 4 billion yuan in 2023 and reach approximately 5 billion yuan in 2024 [8]. Group 4: Industry Penetration - The current penetration rate of unmanned forklifts in China is relatively low, estimated at 1.91% for 2024, which is an increase of 0.24% from 2023 [9][12]. - Future growth in penetration is anticipated as the logistics and industrial manufacturing sectors develop and technology advances [9].

Core Insights - The Yifu High-Speed Railway is a key segment of the Hu-Yu-Rong Yangtze River high-speed rail corridor, crucial for connecting the Sichuan-Chongqing region with Central China [1][11] - The railway spans approximately 471 kilometers with a design speed of 350 km/h, enhancing regional transportation networks and driving industrial upgrades along the route [1][11] Intelligent Equipment Deployment - The Yifu unmanned electric loader project was officially launched on December 30, 2025, marking a significant advancement in intelligent construction technology [3][13] - The new generation T-series unmanned electric loader features advanced capabilities such as 360° environmental perception and centimeter-level high-precision positioning, ensuring safety and efficiency in construction [5][15] Environmental and Operational Efficiency - The loader utilizes cutting-edge intelligent loading technology, achieving an average full bucket rate of over 95%, significantly reducing material waste [6][16] - The equipment operates on a pure electric drive, promoting a "zero carbon" approach and enabling 24-hour unmanned operations, thus enhancing both environmental sustainability and operational efficiency [6][16] Comprehensive Management System - The accompanying intelligent scheduling system provides a full-process visualization management framework, covering real-time synchronization of work hours, energy consumption, and operational volume [8][18] - This system includes features for fault warning, equipment diagnosis, and data analysis, generating automatic reports to support precise operational management [8][18] Impact on Future Projects - The successful deployment of intelligent equipment on the first day of operation has not only improved efficiency for the Yifu project but also created replicable models for smart green construction [10][20] - The Yifu High-Speed Railway's construction is expected to have far-reaching implications for regional transportation networks and industrial upgrades, showcasing the technological strength and innovative commitment of the companies involved [10][20]

Investment Rating - The report maintains a "Buy" rating for the machinery industry, indicating a positive outlook for investment returns over the next 6-12 months [1]. Core Insights - The domestic sales of excavators continued to grow in December 2025, with a significant recovery in non-excavator categories. The total excavator sales (including exports) reached 23,095 units, a year-on-year increase of 19.2%, with domestic sales at 10,331 units, up 10.9% [3][4]. - The report highlights a robust recovery in the demand for construction machinery driven by ongoing infrastructure investments and the replacement cycle of machinery, projecting a compound growth rate of around 30% for replacement demand in the coming years [4][5]. - The export of excavators also showed strong growth, with December 2025 exports reaching 12,764 units, a 26.9% increase year-on-year, and total export value for the year at $64.2 billion, up 27.2% [6][10]. Summary by Sections Domestic Sales Performance - In December 2025, excavator sales reached 23,095 units, with domestic sales at 10,331 units, reflecting a 19.2% and 10.9% year-on-year growth respectively. For the entire year, total excavator sales were 235,257 units, up 17.0%, and domestic sales were 118,518 units, up 17.9% [3][14]. - Non-excavator machinery categories also saw significant growth, with loader sales increasing by 30.0% and motor grader sales by 14.0% in December 2025 [14]. Export Performance - The report notes that excavator exports in December 2025 reached 12,764 units, marking a 26.9% increase year-on-year, with total annual exports at 116,739 units, up 16.1% [6][14]. - The total export value of construction machinery for December 2025 was $64.2 billion, a 27.2% increase, with the annual total at $601.7 billion, up 13.8% [6]. Future Demand Drivers - The report emphasizes that active fiscal policies are expected to stimulate infrastructure investment, ensuring sustained demand for construction machinery in the medium term [5]. - The commencement of the Yaxia Hydropower Project, with an estimated investment of approximately 1.2 trillion yuan, is projected to significantly boost machinery demand, with equipment needs potentially reaching 120 to 180 billion yuan [9][10]. Electric and Intelligent Machinery Trends - Electric loader sales surged by 218.7% in December 2025, with an electricization rate of 22.2%, indicating a strong trend towards electrification in the machinery sector [7]. - The report also highlights the growth potential in the forklift market, driven by advancements in robotics and artificial intelligence, with a projected 39.3% increase in sales of unmanned forklifts in 2025 [8]. Investment Recommendations - The report recommends several leading manufacturers, including SANY Heavy Industry, XCMG, and Zoomlion, as well as component suppliers like Hengli Hydraulic, indicating a favorable long-term outlook for these companies [10].

Report Industry Investment Rating No relevant content provided. Core Viewpoints of the Report - The Yaxia Hydropower Project, with an expected investment of over RMB 2 trillion, will significantly boost the demand for high - end and large - scale construction machinery, serving as a key investment catalyst for the construction machinery industry [1][5][7] - The 14th Five - Year Plan sets the tone for the industry, promoting original innovation and the development of strategic emerging industries. The equipment replacement demand in the machinery industry is expected to be gradually released, benefiting cyclical sectors such as construction machinery [1][12] - China's construction machinery export data has been growing rapidly. The Chinese market is at a cyclical inflection point, and exports are expected to rise from $234 billion in 2024 to $570 billion in 2030. Domestic companies' overseas revenue has increased significantly [1][17][22] - The CSI Construction Machinery Theme Index allows for one - click allocation of core construction machinery assets. It has high long - term returns, high volatility, and significant event - driven characteristics. The performance of its constituent stocks is expected to continue to improve [1][34][56] - The Huaxia CSI Construction Machinery ETF closely tracks the CSI Construction Machinery Theme Index, aiming to minimize tracking deviation and error [1][68] Summary by Directory 1. The 14th Five - Year Plan Sets the Tone for the Industry, and Domestic Brands Accelerate Overseas Expansion 1.1 The Yaxia Hydropower Project Starts, and Trillion - Dollar Investment Creates a Century - Long Project - The Yaxia Hydropower Project officially started in 2025. Its construction plan can be traced back to 2007, and it entered the implementation phase in 2024 [5] - Compared with the Three Gorges Project, the Yaxia Hydropower Project may have a dynamic investment of over RMB 2 trillion, and most of the investment will be used for power station construction and power transmission projects [7][9] 1.2 The 14th Five - Year Plan Sets the Tone for the Industry, and the Domestic and Overseas Sales of Excavators Continue to Improve Synchronously - The 14th Five - Year Plan emphasizes original innovation and the development of strategic emerging industries. The equipment replacement demand in the machinery industry is expected to be released, benefiting cyclical sectors [12] - In November 2025, the sales of various excavators reached 20,027 units, a year - on - year increase of 13.90%. Domestic sales increased by 9.11% year - on - year, and exports increased by 18.84% year - on - year, indicating the recovery of the industry [13] 1.3 The Global Construction Machinery Market is Vast, and China's Export Data Shows High Growth - The global construction machinery market is expected to grow from $213.5 billion in 2024 to $296.1 billion in 2030. The Chinese market is at a cyclical inflection point, expected to rise from $234 billion in 2024 to $570 billion in 2030 [17] - The global excavator market is expected to reach $92.8 billion in 2030. In China, excavators will lead the industry recovery with a growth rate of 16.8% [17] - Overseas markets account for nearly 90% of the global construction machinery market. China's construction machinery export volume has increased from $18.894 billion in 2020 to $52.829 billion in 2024, with a CAGR of 29.33% [22] 1.4 The Construction Machinery Cycle Reaches the Bottom and Rebounds, and Domestic Brands Accelerate Overseas Expansion - The excavator industry has experienced two cycles and is now in a new upward cycle. In 2024, the annual sales volume increased by 3.1% year - on - year, and from January to November 2025, the growth rate expanded to 16.7% [24] - The overseas revenue of the four major domestic construction machinery manufacturers has increased significantly. In 2024, the overseas revenue ratios of Sany Heavy Industry and Zoomlion exceeded 50% [27] - International giants still dominate the global market. Chinese construction machinery manufacturers such as XCMG, Sany Heavy Industry, and Zoomlion still have room for improvement in global market share [29] 2. The CSI Construction Machinery Theme Index: One - Click Allocation of Core Construction Machinery Assets 2.1 Index Compilation: Selecting Core Leaders in the Construction Machinery Industry - The CSI Construction Machinery Theme Index was released on September 27, 2021, with a base date of June 30, 2016. It selects 50 representative listed companies in the construction machinery field as samples to reflect the overall performance of construction machinery - related stocks [34] - The index samples are adjusted semi - annually, on the next trading day after the second Friday of June and December each year [36] 2.2 Industry Market Value Characteristics: High Concentration in the Construction Machinery Sector, with Market Value Structure Dominated by Leading Companies - As of January 6, 2026, the index has 50 constituent stocks, with an average total market value of RMB 28.131 billion. Five stocks have a market value of over RMB 100 billion [37] - The top ten constituent stocks of the index account for 72.55% of the total weight. The top three stocks by weight are XCMG, Sany Heavy Industry, and Weichai Power [43] - The index focuses on the construction machinery, auto parts, and special equipment sectors, with a combined proportion of over 87%. The construction machinery industry has the highest weight, at 61.99% [46] 2.3 High Elasticity, Offensive Nature, and Long - Term Allocation Value - In the rising market, the CSI Construction Machinery Index has strong explosive power. For example, from January 31 to April 19, 2019, its cumulative return was 44.07%, significantly higher than that of broad - based indices [50] - Since the base date, the cumulative return of the index has reached 153.95%, and the annualized return is 10.60%, far exceeding that of major broad - based indices. It has high volatility and a large maximum drawdown, indicating its high - elasticity offensive characteristics [56] - The index shows a pattern of leading in the up - cycle and adjusting in the down - cycle. In 2019 and 2025, its annual returns were significantly higher than those of broad - based indices [62] 2.4 High - Level Operation Supported by Positive Expectations, Highlighting the Attention of Sector Allocation - As of January 5, 2026, the P/E ratio of the CSI Construction Machinery Index was 24.13, with a historical quantile of 79.59%, and the P/B ratio was 2.26, with a historical quantile of 94.49%. The valuation is at a relatively high level [65] - The market's positive expectations for the industry have been reflected in the valuation, highlighting the long - term certainty of sector allocation [65] 3. Huaxia CSI Construction Machinery ETF - The Huaxia CSI Construction Machinery ETF (fund code: 515970) closely tracks the CSI Construction Machinery Theme Index, aiming to minimize tracking deviation and error. It started raising funds on January 19, 2026, and ended on January 30, 2026, with Wang Xinwei as the fund manager [68]

Group 1 - Company Guangxi Liugong Machinery Co., Ltd. won a procurement project from China Aneng Group Second Engineering Bureau with a bid amount of 13.48 million yuan [1][2] - In 2024, the company's operating revenue is projected to be 30.063 billion yuan, with a growth rate of 9.24% [3] - The net profit attributable to the parent company for 2024 is expected to be 1.327 billion yuan, reflecting a growth rate of 52.92% [3] Group 2 - For the first half of 2025, the company's operating revenue reached 18.181 billion yuan, with a growth rate of 13.21% [3] - The net profit attributable to the parent company for the first half of 2025 is estimated at 1.230 billion yuan, with a growth rate of 25.05% [3] - The company operates in the industrial sector, primarily focusing on heavy construction machinery, with its main product composition in 2024 being earth-moving machinery at 59.68%, other construction machinery and parts at 30.2%, prestressing machinery at 8.37%, and financing leasing business at 1.75% [3]