证券之星消息，2025年10月21日山推股份（000680）发布公告称富国基金孙彬 徐斌 冯升、西南证券戴剑 箫于2025年10月21日调研我司。 山推股份2025年中报显示，公司主营收入70.04亿元，同比上升3.02%；归母净利润5.68亿元，同比上升 8.78%；扣非净利润5.59亿元，同比上升36.48%；其中2025年第二季度，公司单季度主营收入37.03亿元， 同比上升3.17%；单季度归母净利润2.96亿元，同比上升4.66%；单季度扣非净利润2.9亿元，同比上升 44.31%；负债率66.96%，投资收益1473.52万元，财务费用-571.33万元，毛利率20.16%。 该股最近90天内共有6家机构给出评级，买入评级6家；过去90天内机构目标均价为13.04。 问：公司下一步增长战略： 答：依托核心产业链自主优势，持续丰富产品矩阵并提升市场份额；以 I 战略为引领，深化智慧施工业务 布局，不断迈进智能化的新征程；加强全球布局，在国际化趋势中继续保持领先身位；不断升级公司商业 模式，围绕工程机械全生命周期打造业务闭环。 问：公司新产品布局情况： 答：公司坚持以市场为导向、以质量为驱动、以智能技 ...

| | | 工程机械个股市盈率排行 | | | | --- | --- | --- | --- | --- | | 代码 | 简称 | 10月21日涨跌幅(%) 总市值(亿元) | | 滚动市盈率(倍) | | 665GOZG | 同力股份 | 5.42 | 91.72 | 11.22 | | 603611 | 诺力股份 | 1.18 | 61.70 | 13.20 | | 603338 | 浙江鼎力 | 1.80 | 252.06 | 13.58 | | 000680 | 山推股份 | 0.43 | 173.42 | 13.85 | | 600761 | 安徽合力 | 1.29 | 182.32 | 13.89 | | 000528 | 柳 工 | 1.53 | 242.44 | 15.41 | | 603298 | 杭叉集团 | 3.31 | 360.07 | 16.85 | | 000157 | 中联重科 | 1.50 | 683.49 | 17.59 | | 605305 | 中际联合 | 2.13 | 78.55 | 18.00 | | 603194 | 中力股份 | 0.89 | 158.35 | ...

Core Viewpoint - Shantui Construction Machinery Co., Ltd. is focusing on leveraging its core industry chain advantages and AI technology to enhance its growth strategy and product offerings, aiming for a significant market share increase and global expansion [2][4]. Group 1: Growth Strategy - The company plans to enhance its product matrix to increase market share while leading with an AI strategy to deepen its smart construction business [2] - Shantui aims to solidify its leading position in global markets by expanding its overseas network and creating a business loop around the entire lifecycle of construction machinery [2] Group 2: New Product Development - Shantui announced the global launch of the first AI smart bulldozer on June 18, 2025, marking a significant advancement in smart construction equipment [3] - The company also delivered the world's first AI pure electric unmanned bulldozer on September 2, continuing to lead in technological innovation [3] - New product development is driven by market demand, quality, and smart technology, focusing on providing low-carbon and economical construction solutions [3] Group 3: Project Progress - In the first half of 2025, Shantui's equipment has been involved in major domestic and international engineering projects, leveraging its comprehensive advantages [4] - Domestically, equipment has been used in various projects including open-pit coal mining in Xinjiang and Inner Mongolia, as well as green projects like photovoltaic desertification control [4] - Internationally, Shantui's equipment has supported projects in Burkina Faso, Kyrgyzstan, Morocco, and Indonesia, reinforcing its competitive advantages [4] - The company emphasizes that its competitive position has continued to strengthen without significant changes during the reporting period [4]

| | 动推土机、LEH120 混合动力轮式装载机，从混合动力到纯电设备， | | --- | --- | | | 公司致力于为全球客户提供低碳、经济的施工解决方案。 | | | 3、公司上半年参与的主要项目： | | | 凭借强大的集团协同优势、产品优势、品牌优势以及文化优 | | | 势等诸多优势，2025 年上半年公司挖掘机、装载机、推土机、压 | | | 路机、平地机、摊铺机、铣刨机、混凝土机械、搅拌站等多种设备 | | | 参与了新疆和内蒙古多个露天煤矿剥离项目、部分矿业新工艺改造 | | | 项目及智能化改造项目、内蒙古库布齐光伏治沙项目、托县盐碱地 | | | 改造项目、广西风电牵引、布基纳法索水利建设和乡村土地开发项 | | | 目、吉尔吉斯斯坦道路一体化项目、摩洛哥公路项目、印度尼西亚 | | | 矿山项目等国内外重大工程项目建设。报告期内，公司继续保持和 | | | 强化上述优势，未发生重大变化。 | | 附件清单（如有） | 无 | | 日期 | 2025 年 10 月 21 日 | 山推工程机械股份有限公司 投资者关系活动记录表 投资者关系活动 类别 【请在您选择的方式的"（ ）"中打 ...

装备制造业不仅决定国家经济发展的方向与前景，更彰显国家综合国力。与一般制造业相比，装备制造业具有技术含量高、资本投入高、信息密集度高、控 制占据力高、价值链水平高等特点。它处于产业链高端，能带动上下游发展，且因技术集成特性，附加值也远高于传统制造业。 国产装备制造业的未来，不在封闭的壁垒中，而是在不断开放和全球的协作中。 黄海之滨的风，裹挟着山海相拥的开阔与工业齿轮转动的厚重。 当"逆全球化"在世界的某些角落泛起涟漪，在青岛，一场工业装备展为全球产业发展的观察者们打开了新窗口：从大缸径发动机的精密内核，读懂中国装备 自主创新的密码；从巨型工程车的轮辙，看见协同共生的思辨…… 在全球装备产业都在担忧"断链" 风险时，国产装备"巨无霸"们所带来的300多件展品（相当部分是首次展出）更像是一次"反逆全球化"的实践。中国智造凭 借硬实力，串联起开放合作的新路径，让工业的脉搏在中国与世界同频，并清晰地传递着一个信号：国产装备制造业的未来，不在封闭的壁垒中，而是在不 断开放和全球的协作中。 重器出海 第一财经记者对山东重工集团副总经理，潍柴集团董事长、总经理，潍柴动力（000338.SZ）董事长马常海在采访中所说的"年年 ...

Group 1: Company Overview - Shantui Co., Ltd. (000680) is a leading bulldozer manufacturer backed by Shandong Heavy Industry Group, showcasing significant growth potential through its extensive product range and technological advancements [6][7][9] - The global bulldozer market is projected to reach 55.055 billion yuan in 2024, with Shantui holding an 11.41% market share, making it the third-largest manufacturer globally and the largest in China with a 64.7% domestic market share [7][8] - Shantui's strategic acquisition of the excavator business is expected to drive new growth, enhancing its product offerings and market presence [8][9] Group 2: Industry Trends - The excavator market is experiencing a recovery, with domestic sales increasing by 21.50% year-on-year in the first eight months of 2025, driven by infrastructure investments and high demand for cost-effective equipment [8] - The global excavator market is forecasted to reach 663.52 billion yuan by 2030, indicating substantial growth opportunities for manufacturers like Shantui [8] - The mining truck segment is also expanding, with Shantui's mining truck revenue reaching 275 million yuan in 2024, a 79.35% increase year-on-year, reflecting strong market demand [9] Group 3: Financial Performance - Shantui's projected net profits for 2025-2027 are 1.343 billion, 1.614 billion, and 1.923 billion yuan respectively, with corresponding price-to-earnings ratios of 12.83, 10.68, and 8.97 [10] - The company is expected to benefit from ongoing global expansion and technological advancements, positioning itself favorably in the competitive landscape [9][10] Group 4: Robotics and AI Developments - The robotics sector is witnessing increased focus on commercialization, with companies like Zhiyuan releasing advanced products such as the intelligent robot G2, which is designed for industrial applications [12][13] - The demand for humanoid robots is growing, with significant orders being placed for products like the Walker S2, indicating a robust market for innovative robotic solutions [13] Group 5: Pharmaceutical Industry Insights - The pharmaceutical sector is highlighted by strong performances at the ESMO conference, with numerous Chinese companies showcasing groundbreaking research and clinical data, enhancing their global competitiveness [15][16] - The overall pharmaceutical market is currently experiencing a downturn, but innovative companies with promising data are expected to attract investment and partnerships [15][16]

在广袤的全球市场攻城略地。 | 作者 | | 紫枫 | | --- | --- | --- | | 编辑 | | 小白 | 最近，工程机械行业在9月份交出的数据让风云君为之侧目。 根据中国工程机械工业协会的数据，9月挖机实现销售19858台，同比增长25.4%，其中内外销分别同 比增长21.5%和29%，相比8月的同比增速15%和11%的水平进一步加速。 受相关消息刺激，10月15日，工程机械ETF（560280.SH）上涨2.69%，核心成分股恒立液压（60110 0.SH）、山推股份（000680.SZ）涨超6%，三一重工（600031.SH）、中联重科（000157.SZ）、徐工 机械（000425.SZ）等涨超2%。 一轮牛市不可能只涨"科技"，百花齐放才是常态。当前A股科技相对顺周期板块的超额已经来到历史 高位附近，此时股价还在低位的顺周期板块可能是更有性价比的选择。 行业整体表现稳健，出口与内销共同驱动增长 先看整体数据，今年1-8月，挖掘机累计销量达15.41万台，同比增长17.2%。 其中，国内市场销量8.06万台，同比增长21.5%，8月单月挖掘机销量7685万台，同比增长14.8%，主 要 ...

齐鲁晚报·齐鲁壹点 记者 蔡宇丹 贸易战时期出海，机会在哪里？内卷外溢，不打价格战，在海外也能活得很滋润？ 一场轰轰烈烈的全产业链出海，正在定义中国企业这场史诗级大出海。这是刚刚举行的山东重工·潍柴动力全球合作伙伴大会（青岛）透露的强烈信号，给 了破解内卷外溢一个明确答案。 1.海外业务贡献率60%！5年增长4倍 一场全产业链出海，正在让中国最大工业装备集团山东重工的出口业务提速，各大业务板块正在全球收获高增长。 17日，在青岛举行的山东重工·潍柴动力全球合作伙伴大会透露的信息显示，今年1-9月，山东重工集团营收接近4400亿，增长超过9%，其中产品出口收入 727 亿元，较去年同期增长6%-7%，预计全年将达到1000亿元。 与5年前相比，2020年，山东重工海外收入不到200亿，海外业务贡献率不足10%；2025年，海外业务贡献率达到60%，5年同比增长4倍。 各大板块中，今年前三季度，潍柴发动机板块出口收入增长30%以上，创历史新高。截至目前，潍柴海外业务收入占比达46%左右。 前三季度，中国重汽重卡出口销量实现11.1万辆，同比增长24.5%。2025年中国重汽重卡出口锁定15万辆目标，是2020年的 ...

Core Viewpoint - Shandong Heavy Industry Group is significantly expanding its global presence, with a projected export revenue of 100 billion RMB by 2025, marking a fivefold increase from 2020, and aims for over 60% of total revenue to come from overseas operations [2][4][8]. Group Performance - In the first nine months of 2025, Shandong Heavy Industry reported nearly 440 billion RMB in revenue, a year-on-year increase of over 9% [3]. - Export revenue for the same period reached 72.7 billion RMB, with an expected annual total of 100 billion RMB, which is five times the export revenue of 2020 [4][5]. Subsidiary Contributions - Weichai Power, a subsidiary, achieved over 250 billion RMB in revenue in the first three quarters of 2025, with a 30% increase in engine exports [4][6]. - China National Heavy Duty Truck Group (CNHTC) exported 111,000 heavy trucks in the first nine months, a 24.5% increase, maintaining its position as the leading exporter in China [5][6]. - Zhongtong Bus's overseas business accounted for 70% of its revenue, with a 40% increase year-on-year [6][7]. Globalization Strategy - The group emphasizes a balanced global industrial layout to mitigate local market risks, with 30% of overseas revenue coming from local manufacturing and sales of Chinese products [8][9]. - The company aims for deep localization in its global strategy, ensuring that supply chains and production align with local markets [9][10]. Future Directions - Shandong Heavy Industry plans to focus on four strategic directions: new energy, digital intelligence, aftermarket services, and globalization, with a goal of achieving 100 billion USD in revenue by 2030 [11].

山推股份今年以来股价涨21.04%，近5个交易日涨12.52%，近20日涨19.79%，近60日涨23.76%。 10月17日，山推股份盘中下跌2.03%，截至09:47，报11.59元/股，成交7924.68万元，换手率0.51%，总 市值173.87亿元。 资金流向方面，主力资金净流出406.61万元，特大单买入117.75万元，占比1.49%，卖出128.31万元，占 比1.62%；大单买入1305.56万元，占比16.47%，卖出1701.61万元，占比21.47%。 截至6月30日，山推股份股东户数5.91万，较上期减少6.89%；人均流通股22238股，较上期增加7.96%。 2025年1月-6月，山推股份实现营业收入70.04亿元，同比增长7.61%；归母净利润5.68亿元，同比增长 35.80%。 分红方面，山推股份A股上市后累计派现13.45亿元。近三年，累计派现5.26亿元。 机构持仓方面，截止2025年6月30日，山推股份十大流通股东中，香港中央结算有限公司位居第三大流 通股东，持股5351.50万股，相比上期增加784.14万股。华夏经典混合（288001）位居第八大流通股东， 持股1 ...