徐工机械：行业将逐步迎来前一个周期的上行期

Industry Outlook - The domestic market for the construction machinery industry has shown positive signs, with earthmoving machinery achieving positive growth for several consecutive months [1] - Policies such as the trillion-yuan special treasury bond issuance and "large-scale equipment renewal" are expected to stabilize and revive the industry [1] - The industry is believed to be gradually entering the upward phase of the previous cycle [1] Long-term Strategy - The national "two-step" strategy is still in the initial stage of the second step, indicating long-term optimism for the economy and the construction machinery industry [1] International Market - The overseas market presents significant opportunities, and Chinese companies have accumulated decades of experience, positioning them well for international expansion [1] - Overseas markets are seen as a key area for future development for all Chinese brands [1]