开源证券给予华明装备买入评级：海外业务占比持续提高，盈利能力进一步提升

Group 1 - The core viewpoint of the article is that Huaming Equipment (002270.SZ) is rated as a buy due to its steady growth in performance and its dual attributes of growth and dividends [2] - The company reported a robust performance in its 2025 semi-annual report, indicating continuous and stable growth [2] - The power equipment business is experiencing sustained growth, with domestic demand remaining stable and overseas demand showing significant increases [2] Group 2 - The domestic high-end market is expected to continue achieving breakthroughs, while the overseas market is likely to maintain high prosperity [2]