证券代码：000680 证券简称：山推股份 公告编号：2025-075 山推工程机械股份有限公司 2025 年第四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的内容真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 特别提示 1、本次股东会未出现否决议案的情形； (1)现场会议时间：2025 年 9 月 9 日（星期二）下午 14:00。 (2)网络投票时间：2025 年 9 月 9 日（星期二），其中： ①通过深圳证券交易所交易系统进行网络投票的具体时间为：2025年9月9日上午 9:15-9:25，9:30-11:30，下午13:00-15:00； ②通过深圳证券交易所互联网投票系统进行网络投票的具体时间为：2025年9月9 日上午9:15至下午15:00的任意时间。 2、召开地点：山东省济宁市高新区 327 国道 58 号公司总部大楼 205 会议室； 3、召开方式：现场表决和网络投票相结合的方式； 4、召集人：公司第十一届董事会； 2、本次股东会未涉及变更以往股东会已通过的决议。 一、会议召开和出席情况 (一)会议召开情况 1、召开时间： 5、主持人：李士振董事长； 6、会议的召开符 ...

证券之星消息，9月9日工程机械板块较上一交易日上涨0.08%，山推股份领涨。当日上证指数报收于 3807.29，下跌0.51%。深证成指报收于12510.6，下跌1.23%。工程机械板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 000680 | 山推股份 | 9.92 | 3.66% | 48.59万 | 4.78亿 | | 600031 | =一重工 | 21.28 | 1.72% | 85.23万 | 18.13亿 | | 000425 | 徐工机械 | 10.08 | 1.41% | 110.08万 | 11.14亿 | | 603338 | 浙江鼎力 | 52.66 | 0.40% | 4.51万 | 2.37亿 | | 600984 | 建设机械 | 3.61 | 0.28% | 19.17万 | 6941.16万 | | 000157 | 中联重科 | 7.39 | 0.27% | 93.83万 | 6.95亿 | | 603194 | 中力股份 | 40.1 ...

证券代码：000680 证券简称：山推股份 1 | | 2、公司海外渠道布局： | | --- | --- | | | 截至 2025 年 6 月 30 日，公司销售网络遍布全球 160 多个国 | | | 家和地区，包括 154 家海外经销商与超过 520 家海外营业网点，并 | | | 设立了 10 家海外子公司。同时公司也已启动并正常推进印尼、泰 | | | 国、澳大利亚及尼日利亚四家海外子公司的建立工作，且正在规划 | | | 在其他大洲进一步建立海外子公司的工作。 | | | 3、公司 8 月份股份回购进展及回购计划： | | | 鉴于公司于 8 月 23 日、29 日分别披露了《2025 年半年度报 | | | 告》、《关于向香港联交所递交 H 股发行上市申请并刊发申请资料 | | | 的公告》，根据相关监管规则，为确保回购事项的合法合规性，公 | | | 司未在窗口期回购股份。后续公司将按照监管规则，根据市场情况 | | | 和资金安排有序落实回购计划，并及时履行信息披露义务，具体 9 | | | 月份的回购进展请以公告披露信息为准。 | | | 二、现场参观 | | | 参观公司展厅、主机装配 ...

Summary of Shantui Co., Ltd. Conference Call Company Overview - Shantui Co., Ltd. is a leading player in the engineering machinery industry, primarily engaged in the production of bulldozers and excavators. The company is part of Shandong Heavy Industry Group, which includes other well-known enterprises such as Weichai Power and China National Heavy Duty Truck Group [2][3][10]. Key Points and Arguments - **Revenue Composition**: Over 70% of Shantui's revenue comes from overseas markets, with expectations for overseas revenue to reach 9 billion yuan in 2025, representing a 21% year-on-year growth. However, the company needs to monitor the impact of the weakening Russian market on performance [2][3]. - **Profit Contribution**: Mining machinery contributes over 40% of Shantui's net profit, with high-power bulldozers being a significant source of profit. The company is expected to benefit from domestic substitution trends and demand from emerging markets, enhancing profitability [2][3]. - **Share Buyback and Market Confidence**: Shantui plans to repurchase shares worth 150 to 300 million yuan for employee stock ownership plans and has initiated an application for a listing on the Hong Kong Stock Exchange, indicating confidence in future growth. However, the potential dilution effect from the Hong Kong listing should be considered [2][3]. - **Market Position**: Shantui ranks third globally in bulldozer sales, with over 70% market share in the Chinese export market, indicating a monopolistic position. The company must remain vigilant regarding market strategies from competitors like Caterpillar and Komatsu [2][3]. - **Financial Performance**: In the first half of 2025, Shantui's total revenue was 7 billion yuan, a 3% increase year-on-year. The gross margin for main engine business was 24%, with overseas market revenue accounting for 56%, up 8% year-on-year, while domestic market growth was relatively slow [2][9]. - **Future Profit Projections**: Shantui expects net profits for 2025-2027 to be 1.35 billion, 1.75 billion, and 2.55 billion yuan, respectively, with a compound annual growth rate (CAGR) of 23%. The price-to-earnings (PE) ratios are projected to be 11, 8, and 7, indicating a low valuation compared to peers [4][20]. - **Market Layout**: Shantui's market is primarily focused on Africa, Indonesia, the Middle East, and other Belt and Road Initiative countries, with Africa holding the highest share at 30%-40%. The demand for engineering machinery in these regions is expected to grow steadily [5][13]. - **Management Changes**: Recent management changes include the appointment of Li Shizheng as chairman and Zhang Ming as general manager, both of whom have extensive experience in the industry, which is expected to positively influence the company's future development [10][11]. Additional Important Information - **Cost Reduction Measures**: Shantui has implemented cost reduction measures totaling 520 million yuan, aimed at significantly lowering operational costs and improving overall profitability [19]. - **Risks to Consider**: Investors should be aware of potential risks, including lower-than-expected infrastructure and real estate investments and overseas trade friction, which could adversely affect future performance [21]. This summary encapsulates the key insights from the conference call regarding Shantui Co., Ltd.'s business operations, market position, financial performance, and future outlook.

Group 1 - The company, Shantui Construction Machinery Co., Ltd., announced that it will hold its fourth extraordinary general meeting of shareholders on September 9, 2025 [2] - The agenda for the meeting includes the review of the report on the provision for asset impairment and asset write-offs for the first half of 2025 [2]

证券代码：000680 证券简称：山推股份 公告编号：2025-074 山推工程机械股份有限公司 关于召开 2025 年第四次临时股东会的提示性公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 山推工程机械股份有限公司（以下简称"公司"）于 2025 年 8 月 23 日在《中国证 券报》、《证券时报》和巨潮资讯网（www.cninfo.com.cn）上刊登了《山推工程机械股 份有限公司关于召开 2025 年第四次临时股东会的通知》。由于本次股东会将采取网络 投票与现场投票相结合的方式，根据中国证监会《关于加强社会公众股股东权益保护 的若干规定》的要求，现将本次股东会相关事项提示如下： 一、召开会议的基本情况 (一)股东会届次：本次股东会是公司 2025 年第四次临时股东会。 (二)股东会的召集人：公司第十一届董事会。 (三)会议召开的合法、合规性：本届董事会认为本次股东会的召开程序符合有关 法律、行政法规、部门规章、规范性文件及《公司章程》的有关规定。 (四)会议召开日期和时间： 现场会议时间：2025 年 9 月 9 日（星期二）下午 14:00。 网 ...

Core Viewpoint - On September 2, Shantui Construction Machinery Co., Ltd. announced that it will not implement a share buyback by August 2025 [2] Summary by Category - **Company Announcement** - Shantui announced the decision regarding the share buyback, indicating a strategic choice not to proceed with this financial maneuver [2]

Core Viewpoint - Shandong Shantui (Dezhou) Engineering Machinery Co., Ltd. is experiencing significant growth driven by intelligent and green technologies, with a nearly 30% year-on-year increase in product sales in the first half of the year [1][3]. Group 1: Product Innovation - The company has developed a remote-controlled loader, capable of operating in three modes: manual, near-range, and remote, showcasing adaptability in various working conditions [1][2]. - A new unmanned loader has been introduced, which autonomously plans optimal paths and performs tasks without human intervention, highlighting advancements in automation [2][3]. - The first nationwide new energy loader was launched, with over 500 units sold in the first half of the year, indicating strong market demand [3]. Group 2: Technological Focus - The company is focusing on three core technologies: pure electric power, hybrid power, and intelligent control systems, aiming to overcome industry challenges [3][4]. - A comprehensive digital platform is being developed to enhance the entire production process, emphasizing the importance of digital transformation in manufacturing [3][4]. Group 3: Environmental Initiatives - An investment of over 300 million yuan has been made in digital transformation, integrating multiple intelligent application platforms to improve production efficiency and management processes [4]. - The company has adopted water-based paints in its production, reducing VOC emissions by 70%-90% compared to traditional paints, and saving approximately 5,000 cubic meters of natural gas annually [4].

Core Viewpoint - The global first AI pure electric unmanned bulldozer has been officially delivered and is now in operation, marking a significant milestone in the construction machinery industry [1] Group 1 - The delivery ceremony for the AI pure electric unmanned bulldozer took place on September 2, organized by Shantui Construction Machinery Co., Ltd. [1] - Yun Sul Mining and Shantui completed the "golden key" delivery, indicating the operational status of the bulldozer [1] - A strategic cooperation agreement was signed between Yun Sul Mining and Shantui, establishing a partnership for future projects [1] Group 2 - The unveiling of the "Yun Sul - Shantui Industry-Academia-Research Cooperation Base" was part of the ceremony, emphasizing collaboration in research and development [1]

Core Viewpoint - The company, Shantui Construction Machinery Co., Ltd. (山推股份), has conducted a share buyback program, repurchasing a total of 5,541,050 shares, which represents 0.37% of its total share capital as of August 31, 2025 [1] Summary by Relevant Categories Share Buyback Details - The company has not implemented any share buyback as of August 2025 [1] - The shares were repurchased through a dedicated securities account via centralized bidding [1] - The highest transaction price was 9.24 CNY per share, while the lowest was 8.64 CNY per share [1] - The total amount spent on the buyback was 49.9891 million CNY, excluding transaction fees [1]