（投资中国）做大存量市场：芬兰电梯巨头在华抓住第二次成长机会

Group 1 - The core viewpoint of the article emphasizes the transformation of the elevator market in China from a growth-oriented to a maintenance-oriented approach, aligning with the country's urbanization process [1] - KONE, a leading global elevator and escalator company, has successfully delivered its first batch of old elevator renovation projects supported by special long-term government bonds, with 2,196 residential elevators updated, of which KONE won 2,106 units, accounting for approximately 96% [1] - KONE's elevator update orders in China have maintained double-digit growth over the past three years, indicating a clear market opportunity and marking a significant strategic focus for the company globally [2] Group 2 - The Chinese market has the highest number of elevators in the world, with a total of 11.53 million elevators expected by the end of 2024, including 900,000 old elevators over 15 years old, which is projected to increase annually [1] - KONE is adapting to the diverse conditions of old elevators by implementing customized solutions, with 40% of updated elevators utilizing tailored approaches, while also focusing on cost reduction and shortened project timelines [2] - KONE's manufacturing facility in Kunshan has established a flexible production line specifically for old elevator renovations, allowing for adjustments to produce different specifications as needed [2]