全总1月25日消息，2025年"大国工匠年度人物"宣传活动昨日在甘肃兰州录制发布仪式，现场揭晓50位 入围人选，入围人选包含10位年度人物及40位提名人选。 全总介绍，本届活动由全总、中央广播电视总台联合主办，甘肃省总工会承办，于2025年9月正式启 动。经广泛推荐和严格评审，活动组委会综合考虑人选代表性、年度性、群众基础，最终确定了国网北 京昌平供电公司技术总师、配网不停电作业室班长王月鹏等50位来自制造业、航天、电力、交通、食 品、文博等多个关键行业领域的入围人选，他们均长期坚守生产一线，在各自领域拥有顶尖技能水平， 参与过国家重大工程、重点项目或科技攻关项目，在推动高质量发展、促进高水平科技自立自强、发展 新质生产力、传承中华优秀传统文化等方面作出过突出贡献。 全总表示，"大国工匠年度人物"宣传活动始于2018年，迄今已成功开展六届，推选出高凤林等60位大国 工匠，在高技能人才和广大职工中树立了鲜明导向。本届发布仪式将择期在中央广播电视总台播出，届 时10位年度人物将正式亮相。 以下为2025年"大国工匠年度人物"入围人选 1 王月鹏 国网北京昌平供电公司技术总师、配网不停电作业室班长 7 郑贵有 内蒙 ...

Core Viewpoint - The delivery of the unmanned mining truck, developed by Zoomlion and Xidi Zhijia, marks the beginning of a new era in green smart mining operations, leveraging "green power + full-stack intelligence" solutions [1][3]. Group 1: Product and Technology - The unmanned mining truck is based on the world's largest hybrid wide-body truck ZT160HEV, designed specifically for high-intensity, long-cycle mining environments, excelling in load capacity, energy efficiency, and safety [5]. - The truck features a fully autonomous and controllable technology system, capable of high-level path planning, dynamic lane planning, automatic parking, and collaborative operations, enabling all-weather, unmanned operations [3][5]. - Compared to manned mining trucks, the unmanned version achieves breakthroughs in operational safety, economic efficiency, stability, and organizational efficiency, significantly reducing the impact of adverse weather on production [5]. Group 2: Operational Efficiency and Performance - The project team successfully completed the assembly, debugging, and production processes in just 30 days, overcoming extreme weather challenges, and achieving a new speed for large-scale deliveries in the industry [3]. - The 40 unmanned mining trucks are currently operating in stripping projects, working 18 hours continuously, which has led to a 10% increase in transportation efficiency and a 15% increase in output [5]. - The unmanned operation reduces safety risks by minimizing the number of frontline workers, significantly lowers labor costs, and maximizes lifecycle value through systematic intelligent control [5]. Group 3: Service and Strategic Direction - Zoomlion not only provides high-end intelligent equipment but also has established a comprehensive service guarantee system, including dedicated parts storage and rapid technical support tailored for extreme weather conditions [7]. - The company is committed to the development path of "large-scale, green, and intelligent" mining machinery, actively promoting a transition from traditional manual operations to data-driven, system-optimized smart operations [7].

AI基金中欧国企红利混合A（019015）披露2025年四季报，第四季度基金利润70.08万元，加权平均基金份额本期利润0.017元。报告期内，基金净值增长率 为3.64%，截至四季度末，基金规模为5477.92万元。 该基金属于偏股混合型基金。截至1月21日，单位净值为1.17元。基金经理是曲径，目前管理的8只基金近一年均为正收益。其中，截至1月22日，中欧金安 量化混合A近一年复权单位净值增长率最高，达61.83%；截至1月21日，中欧国企红利混合A最低，为14.5%。 基金管理人在四季报中表示，本基金是以中证国企红利指数为主要基准权重指数的，专注投资红利资产的量化基金，面对市场不确定性加剧的现状，我们将 风险敞口的管控调整得更为严谨。我们认为狭义的"红利"投资，也就是高股息的强势，有望将会扩散到具有潜在高分红能力的广义红利股。这类潜力高分红 的公司，往往具有经营壁垒高，ROE稳定，同时经营现金流充沛的特点。这类企业在未来具有持续分红的潜力，同时估值依然处在历史较低位置。我们认为 拥有这类经营稳健特征的国企央企呈现了较好的投资机会。 截至1月21日，中欧国企红利混合A近三个月复权单位净值增长率为1.33% ...

AI基金华夏国企红利混合发起式A（019729）披露2025年四季报，第四季度基金利润35.2万元，加权平均基金份额本期利润0.0251元。报告期内，基金净值 增长率为2.25%，截至四季度末，基金规模为1604.41万元。 该基金属于偏股混合型基金。截至1月22日，单位净值为1.181元。基金经理是刘睿聪，目前管理的2只基金近一年均为正收益。其中，截至1月22日，华夏成 长混合A近一年复权单位净值增长率最高，达45.07%；华夏国企红利混合发起式A最低，为14.61%。 基金管理人在四季报中表示，投资运作上，我们采用主动与量化相结合的方法，以主动投资逻辑出发构建投资策略，辅以量化投资工具和风控方法，精选盈 利稳定、高质量、低估值、高分红的国有企业。报告期内，红利整体Beta不强，更需要寻找其中的Alpha，因此我们对持仓做了进一步的集中。在行业配置 和选股维度，我们会更加关注企业盈利的变动趋势，优选分红可持续能力强的上市公司。 截至1月22日，华夏国企红利混合发起式A近三个月复权单位净值增长率为0.03%，位于同类可比基金626/689；近半年复权单位净值增长率为0.88%，位于同 类可比基金654/689 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [7] Core Views - The report emphasizes that "A New Era, New SANY" is set to begin, with the engineering machinery industry experiencing upward resonance both domestically and internationally, positioning the leading Chinese engineering machinery company for global expansion [1] - The company is identified as one of the most elastic stocks in terms of performance during the excavator cycle, with a significant portion of its revenue derived from excavators [4][11] - The report highlights the ongoing globalization strategy of the company, with international revenue and gross profit showing substantial growth [4][11] Industry Overview - The engineering machinery industry is experiencing a cyclical reversal, with both domestic and international markets showing positive trends. The global market size for engineering machinery is projected to reach $213.5 billion in 2024 and $296.1 billion by 2030, with a CAGR of 6% from 2024 to 2030 [2] - The domestic excavator market is expected to see a gradual recovery, driven by demand from agriculture, forestry, and municipal projects, with total excavator sales projected to reach 235,257 units in 2025, a 17% increase year-on-year [2][18] - The company is benefiting from increased market share overseas, particularly in emerging markets in Asia, Africa, and Latin America, which are experiencing industrialization and urbanization [3][11] Company Performance - The company’s excavator revenue accounted for 39% of its total revenue in the first half of 2025, indicating strong potential for performance elasticity as the excavator industry enters an upward cycle [4][27] - The company’s international revenue and gross profit represented 60% and 68% of its main business revenue and gross profit, respectively, in the first half of 2025, with year-on-year growth of 12% and 10% [4][28] - The successful listing of H-shares is expected to further advance the company's globalization strategy, with net proceeds from the offering allocated to expanding global sales and service networks, enhancing R&D capabilities, and optimizing production efficiency [5][23] Financial Forecast - The company is projected to achieve a net profit attributable to shareholders of 8.51 billion, 11.04 billion, and 14.12 billion yuan for the years 2025, 2026, and 2027, respectively, representing year-on-year growth rates of 42%, 30%, and 28% [13][15]

Core Viewpoint - The launch of the first customized China-Europe Railway Express train by Zoomlion on January 22 marks a significant step in enhancing international logistics channels and supporting local high-end equipment manufacturing in Changsha during the "14th Five-Year Plan" period [2][4]. Group 1: Train Launch and Significance - The first customized China-Europe Railway Express train departed from Changsha North Station, emphasizing the importance of international logistics for local high-end equipment manufacturing [2]. - This initiative aligns with the "14th Five-Year Plan" goals, promoting high-level opening-up and international capacity cooperation, and aims to bolster Changsha as a key advanced manufacturing hub in China [2][4]. Group 2: Logistics Solutions and Services - The train provides a comprehensive "end-to-end, door-to-door" customized international logistics solution, including transportation organization, customs coordination, and overseas delivery services [2]. - The cargo includes high-end engineering machinery such as self-propelled boom lifts and telescopic forklifts, which will be transported over thousands of kilometers in over ten days [2]. Group 3: Collaborative Efforts and Efficiency - The successful operation of the train is attributed to the collaboration among local government logistics offices, customs, and railway departments, which facilitated 24/7 customs clearance and emergency support services [3]. - The use of "advance declaration" and "railway fast track" models has improved the efficiency of customs declarations and increased the inspection rate of intelligent monitoring equipment, ensuring rapid passage of goods [3]. Group 4: Future Outlook - By 2025, the China-Europe Railway Express (Changsha) is expected to operate 1,037 trains, maintaining a scale of over 1,000 trains for five consecutive years, ranking among the top in the country [5]. - The service aims to continue deepening cooperation with local manufacturing enterprises, expanding route networks, and optimizing service functions to support the province's opening-up and high-quality development [4].

Group 1 - The heavy machinery stocks in Hong Kong experienced a significant rise, with Senson International increasing by over 9% and Sany Heavy Industry reaching a new high with a 2.2% increase [1] - The engineering machinery industry is expected to maintain stable orders until mid-January 2026, with clear market expectations for a sales peak after the Spring Festival [1] - Leading manufacturers such as XCMG, Sany Heavy Industry, Zoomlion, and LiuGong are prioritizing overseas market capacity expansion as a core task for the coming year [1] Group 2 - Since 2025, the domestic engineering machinery sector has entered an upward cycle, driven by equipment renewal demand and construction progress, leading to increased excavator sales and continued positive growth in non-excavator products [1] - Analysts suggest that in the context of global loose fiscal and monetary policies, the theme of going overseas is likely to become a popular annual trend, with the engineering machinery sector benefiting significantly from this logic [1] - Currently, leading companies in the engineering machinery sector have an overseas profit contribution ratio of over 70%, and the sector is expected to benefit from potential catalysts such as future interest rate cuts by the Federal Reserve [1]

Group 1 - Heavy machinery stocks in the Hong Kong market experienced a significant rise, with Sensong International surging over 9% [1] - Sany Heavy Industry increased by 2.2%, reaching a new all-time high during intraday trading [1] - Both Zoomlion and Sany International saw gains of approximately 2% [1]

Group 1 - Heavy machinery stocks in Hong Kong have surged, with Senson International rising over 9% and Sany Heavy Industry increasing by 2.2%, reaching a new high during trading [1] - The engineering machinery industry has maintained stable orders in the first half of January 2026, with expectations for a sales peak after the Spring Festival [1] - Leading manufacturers such as XCMG, Sany Heavy Industry, Zoomlion, and LiuGong are prioritizing overseas market capacity expansion as a core task for next year [1] Group 2 - Since 2025, a domestic upcycle in engineering machinery has begun, driven by equipment renewal demand and construction progress, leading to increased excavator sales and continued positive growth in non-excavator products [1] - Analysts suggest that under the backdrop of global loose fiscal and monetary policies, the theme of going overseas is expected to become a popular annual trend, with engineering machinery benefiting significantly from this logic [1] - Currently, leading companies in the sector have an overseas profit contribution ratio of over 70%, and the engineering machinery sector is likely to benefit from potential catalysts such as future interest rate cuts by the Federal Reserve [1]

Group 1: Machinery Manufacturing Industry - The domestic demand for construction machinery has fully recovered, and overseas growth has accelerated, indicating a positive long-term outlook for the industry [2] - Recommended companies include SANY Heavy Industry, XCMG, Zoomlion (A/H), Liugong, Shantui, and China Longgong (H), along with component manufacturers like Hengli Hydraulic [2] - The smart logistics sector is expected to open up growth opportunities in the forklift industry, with recommendations for Anhui Heli and Hangcha Group, and a suggestion to pay attention to Zhongli and Nuoli [2] Group 2: Dairy Industry - Junlebao, starting from yogurt, launched its first infant formula in 2014, and has since developed strong single product capabilities, with "Jianchun" becoming the top low-temperature yogurt brand in China since 2022 [3] - The high-end fresh milk brand "Yuexianhuo" is projected to achieve revenue of 1.88 billion yuan in 2024, establishing itself as a leading brand in the high-end fresh milk segment [3] - For the first three quarters of 2025, "Yuexianhuo" has generated revenue of 1.84 billion yuan, reflecting a year-on-year growth of 37.6% [3] Group 3: AI in Healthcare - Domestic and international healthcare companies are increasingly investing in AI products and services across various segments, including health management, precision medicine, and AI-driven clinical trials [4] - The report emphasizes the transition of AI in healthcare from technical validation to commercial realization, driven by the dual forces of cost control in healthcare and technological advancements [4] - The core competitive advantage in the future will depend on possessing exclusive, high-quality private data and the ability to continuously iterate data through business scenarios [4]