SHANTUI(SZ:000680) Zhong Guo Jing Ying Bao·2025-07-21 09:50Core Viewpoint - Shantui Construction Machinery Co., Ltd. is accelerating its overseas business expansion by establishing multiple foreign subsidiaries in Indonesia, Australia, Nigeria, and Thailand, with overseas revenue exceeding 50% in 2023 [2][5]. Group 1: Overseas Expansion Plans - The company plans to invest a total of $7.51 million to set up subsidiaries in the mentioned countries, with specific investments including $3 million in Indonesia, $1 million in Australia, $600,000 in Nigeria, and $2.91 million in Thailand [3]. - The investment aims to meet business development needs and enhance market competitiveness in these regions [3][4]. Group 2: Financial Performance - Shantui's overseas revenue has shown consistent growth, with figures rising from 1.123 billion yuan in 2019 to 7.411 billion yuan in 2024, reflecting a continuous upward trend [6]. - The overseas revenue percentage has increased from 17.54% in 2019 to 52.12% in 2024, with a target of over 57% by 2025 [6]. Group 3: Future Projections - The company has set a revenue target of 15.7 billion yuan for 2025, with an overseas revenue goal of 9 billion yuan [6]. - For 2024, Shantui anticipates a 30% year-on-year increase in overseas revenue, with specific product contributions from bulldozers (48%), excavators (30%), and loaders (11%) [6]. Group 4: Market Strategy - Shantui aims to deepen its presence in Africa, Indonesia, the Middle East, and Southeast Asia, adapting its product offerings to meet diverse market demands [7]. - The company expects significant growth in sales revenue in these regions, projecting a 30% increase in Indonesia and the Middle East, and a 30% increase in Africa for the year [7].