Mei Ri Jing Ji Xin Wen·2025-09-01 07:32Group 1 - The core viewpoint of the report is that China Galaxy has given a "recommended" rating for Liugong (000528.SZ) based on several positive indicators [1] - Domestic sales are recovering, and overseas sales and profitability have reached new highs during the same period [1] - The market share of excavators has increased both domestically and internationally, with a significant growth in global sales of electrical equipment and accelerated growth in emerging businesses [1] Group 2 - The gross profit margin has improved year-on-year, although there has been a slight increase in the expense ratio [1] - There has been an increase in accounts receivable exposure, which has impacted operating cash flow due to the company's own financing leasing business [1]