通力电梯在华投资加码 未来国产电梯行业突破口在哪？

Group 1 - Kone Elevator announced a significant investment plan in the Guangdong-Hong Kong-Macao Greater Bay Area, including establishing a southern headquarters, R&D center, and smart logistics and assembly center in Shenzhen, focusing on modernization and digital maintenance services [1][6] - The elevator industry in China is facing challenges due to a slowdown in real estate demand, leading to revenue declines for many companies, with major players like Shanghai Mechanical and Guangri experiencing revenue drops of 6.41% and 3.05% respectively in the first half of 2025 [2][3] - The overall revenue of 12 listed elevator companies in A-shares reached 181.25 billion yuan in the first half of 2025, marking a five-year low, compared to over 220 billion yuan in the same period in 2021 [2][3] Group 2 - The competition in the elevator industry is intensifying, with many companies reporting sales declines, and the market is characterized by a shift from foreign brands dominating 70% of the market to a more competitive landscape where domestic brands are catching up [3][4] - Companies are increasingly focusing on digitalization and smart technology to enhance competitiveness, with examples including Kone's IoT-based smart elevator cloud service platform and Guangri's digital business expansion [4][5] - The demand for elevator modernization and maintenance services is expected to grow, driven by a significant number of aging elevators in China, with over 1.2 million units exceeding 15 years of service [5][6] Group 3 - The Chinese government is supporting the modernization of old elevators through special long-term bonds, with 62 billion yuan allocated for updating over 41,000 residential elevators, benefiting companies like Otis and Schindler [6][7] - Kone plans to leverage Shenzhen's technological resources to advance its digital maintenance and modernization services, indicating a strategic shift towards these areas [7][8] - Companies that can successfully adapt their strategies and business models are likely to emerge as leaders in the evolving competitive landscape of the elevator industry [8]