LIUGONG(SZ:000528) Xin Lang Zheng Quan·2025-12-30 03:07Core Viewpoint - LiuGong Machinery held an analyst meeting on December 29, 2025, discussing its 2026 operational plans, overseas market strategies, and key business developments with 122 participating institutions and analysts [1][2]. Group 1: 2026 Operational Plans - LiuGong Machinery plans to significantly increase R&D and marketing investments in 2026, focusing on long-term strategic implementation and enhancing global competitiveness [3]. - The company expects improved asset quality in 2026 due to asset disposals in 2025, leading to a substantial reduction in impairment provisions [3]. Group 2: Overseas Market Strategy - LiuGong Machinery aims for balanced development across nine overseas regions, with historical highs in revenue, sales, and profits in the first three quarters of 2025 [4]. - The company plans to increase resource investment in overseas markets in 2026, targeting high-quality growth and outperforming the industry [4]. Group 3: Mining Machinery Business - The mining machinery segment is a key focus for LiuGong's "14th Five-Year Plan," with expectations for recovery in 2026 due to rising global mineral prices and market demand [5]. - LiuGong aims to establish mining machinery as its third core business after loaders and excavators, enhancing partnerships with major mining companies [5]. Group 4: Agricultural Machinery Business - LiuGong positions its agricultural machinery segment as a strategic emerging business, which, despite its smaller size, has significant growth potential and can mitigate cyclical risks from the main business [6]. - The company is currently not assessing agricultural machinery performance but aims to enhance product technology and quality [6]. Group 5: Share Buyback and Global Manufacturing Capacity - LiuGong has implemented two phases of share buybacks totaling approximately 55.23 million shares for future employee incentive plans [7]. - The company is advancing its global manufacturing layout, with ongoing projects in South Asia and Indonesia expected to be operational in the coming years [8].