研报掘金丨国海证券：维持柳工“买入”评级，装载机+挖掘机比翼双飞

Core Viewpoint - LiuGong's excavators and loaders are positioned to benefit from market recovery, with a focus on electrification and globalization as key growth strategies [1] Group 1: Product Performance - LiuGong's two main products, excavators and loaders, are expected to significantly benefit from the market recovery [1] - The electric loader is anticipated to continue building a competitive advantage for the company [1] Group 2: Strategic Goals - LiuGong has set a target to achieve an operating revenue of 60 billion yuan by 2030, with international revenue accounting for over 60% [1] - The company aims to maintain a net profit margin of no less than 8% as part of its "15th Five-Year Plan" [1] Group 3: Investment Outlook - The analysis suggests that LiuGong's product advantages and overseas expansion strategy are likely to help achieve the goals outlined in the "15th Five-Year Plan" [1] - The firm maintains a "buy" rating for LiuGong based on these factors [1]