Core Viewpoint - The excavator sales in China showed significant growth in the first half of the year, exceeding expectations, with a total of 120,520 units sold, representing a year-on-year increase of 16.8% [1] Sales Performance - In the first half of the year, domestic sales reached 65,637 units, up 22.9%, while exports totaled 54,883 units, marking a 10.2% increase [1] - In June alone, excavator sales reached 18,804 units, a 13.3% year-on-year increase, with domestic sales at 8,136 units (up 6.2%) and exports at 10,668 units (up 19.3%) [3] Market Trends - After a brief decline in May, domestic excavator sales rebounded in June, supported by accelerating second-hand machine exports and policy-driven demand [2] - The construction machinery industry is experiencing a recovery, with the real estate sector's negative impact on excavator sales diminishing and infrastructure investment remaining resilient [3] Export Dynamics - The export value of China's construction machinery in May was 36.168 billion yuan, a 10.1% increase year-on-year, with a total export value of 165.91 billion yuan from January to May, also up 10.2% [4] - Emerging markets in the Middle East, Southeast Asia, and Africa are driving demand, with Chinese equipment's cost-performance advantage facilitating market expansion [4] Industry Outlook - Major construction machinery companies are optimistic about the market recovery, with expectations of stable growth in domestic and overseas markets [5][7] - The industry is anticipated to continue its upward trajectory, driven by infrastructure investments, new urbanization, and the increasing penetration of renewable energy products [9]

据中国工程机械工业协会统计： 2025年6月工程机械主要产品月平均工作时长为77.2小时，同比下降9.11%，环比下降8.56%。其中：挖掘机 64.2小时；装载机92.7小时；汽车起重机109小时；履带起重机86.6小时；塔式起重机47.7小时；压路机35.1小 时；摊铺机44.7小时；旋挖钻机61.3小时；非公路矿用自卸车142小时；混凝土泵车42.7小时；搅拌车64.7小 时；叉车92.7小时。 2025年6月工程机械主要产品月开工率为56.9%，同比下降7.55个百分点，环比下降2.65个百分点。其中：挖掘 机58.2%；装载机59.5%；汽车起重机73.3%；履带起重机58.7%；塔式起重机39.5%；压路机45.7%；摊铺机 57.1%；旋挖钻机45%；非公路矿用自卸车47.4%；混凝土泵车37.7%；搅拌车34.7%；叉车53.4%。 【来源：中国工程机械工业协会】 2024年开工情况 数据回顾 2025年开工情况 数据回顾 ◆ 2024年12月工程机械主要产品月平均工作时长为93.9小时，环比下降2.91% ◆ 2024年10月工程机械主要产品月平均工作时长为88.9小时，环比下降1.24% ...

为打通"最后一公里"，山西省推出"煤炭绿色运输通行证"制度，以体系化方案提升新能源重卡用户的积极性，对新能源车辆给予路权优先、高速费减免 等优惠，使新能源重卡日均运营时长从8小时提升至14小时。内蒙古自治区实施的"绿电运输认证"体系，将新能源车辆运输量纳入碳交易市场，企业每万吨 公路运输量可获得120元碳汇收益。 借助工业行业的环保政策，也是推进重卡新能源化的另一重要手段。2019年4月28日，生态环境部、国家发展和改革委员会、工信部、财政部、交通运 输部5部委发布《关于推进实施钢铁行业超低排放的意见》（以下简称"《意见》"），针对大宗物料产品清洁运输，《意见》提出汽车运输部分应全部采用 新能源汽车或达到国六排放标准的汽车。同年，生态环境部发布《重污染天气重点行业应急减排措施制定技术指南》，经过2020年进一步修订后，对钢铁等 行业制定绩效分级指标，要求该绩效等级直接影响企业在重污染天气期间的减排豁免权。以长流程钢铁企业为例，A级企业大宗物料和产品采用清洁运输方 式或电动重型载货车比例不低于80%。鞍钢等钢铁企业还试点氢能重卡，在区域运输（如鞍山至鲅鱼圈320公里的运行路线）中实现零排放，氢能重卡的续 驶里程 ...

本报记者 肖艳青 "在工程机械与专用作业设备领域，一场以'绿色、低碳、智能'为核心的新能源革命风暴正席卷而 来。"中国工程机械工业协会副会长李建友说，"不断出台的政策法规正以前所未有的力度推动行业设备 新能源化，新能源机械成为驱动行业增长的最强劲引擎。" 据中国工程机械工业协会数据显示，今年前5个月，新能源环卫车辆累计销售4837台，同比增长 74.6%，电动矿卡累计销售848台，同比增长178.9%；电动装载机10904台，同比增长207.7%。其他新能 源工程机械，如挖掘机、起重机、推土机、混凝土机械等产品，行业需求总量和运营时长也显著提升。 对于行业的发展，李建友表示，目前作业设备行业产业链协同存在发展瓶颈，"三电"成本占比仍高，5 年至8年的电池寿命与工程机械设计寿命10年+存在错配。不同设备的功能属性、功率需求、作业循环 天差地别，通用化的新能源方案难以包打天下。深度理解场景痛点、提供定制化技术方案是破局关键。 宇通重工现场工作人员对《证券日报》记者表示，公司的纯电矿卡系列车型在国内细分市场占有率位居 前列，是公司重要的业绩增长点，目前已出口至泰国、智利、印度尼西亚等国家。 公开资料显示，宇通重工聚 ...

6月25日，宁德时代（300750）与浙江省海港投资运营集团有限公司在宁德签署战略合作协议。双方将 聚焦低碳港区与园区建设、船舶电动化、港口机械设备电动化和重卡充换电、仓储物流、电池回收等方 面，共同探索并实践港口物流领域的"产业新能源化"发展路径。(宁德时代) ...

点 击 蓝 字 关 注 我 们 皮卡出口： 今年全国皮卡总体行业出口超强，2025年5月皮卡出口2.9万辆，同比增23%，环比下降2%， 行业出口占比继续保持高位，1-5月皮卡累计出口13.2万辆，同比增长47%。2024年皮卡出口占全国皮卡总销量 的45%，2025年5月达到55%，2025年1-5月达到51%。中国自主皮卡出口提升较好。部分皮卡企业抓住出口机 遇实现强势增量，如江淮汽车、比亚迪、长安汽车、长城汽车、上汽大通等出口规模都很大，很多皮卡厂商出 口占各自总销量的一半以上。皮卡作为国际化车型，已成为我国商用车出口中的最强品类。 新能源皮卡： 2024年全国新能源皮卡销量2.1万辆，同比增长170%。2025年5月新能源皮卡0.8万辆，同比 增长503%，环比增长22%，1-5月累计新能源皮卡3.4万辆，增长1038%，形成超强于燃油皮卡的较好走势。相 对于电动轻卡的物流需求暴增，电动化是商用车路权提升的最佳方式。随着电动化和乘用化的发展，皮卡市场 的空间逐步改善。5月新能源皮卡销量中：比亚迪销量45,72l辆、吉利雷达电动皮卡1,567辆、长安增程皮卡799 辆，郑州日产614辆，其他皮卡企业的新 ...

6月21日，北汽福田向沙特大客户正式交付1000辆定制校车。这批校车将用于当地学生日常通勤，服务 范围覆盖利雅得及沙特南部城市吉赞。 【环球网科技综合报道】2025年6月25日消息，近日，北汽福田在沙特市场取得两项重要成果，国际化 战略推进再添里程碑。北汽福田党委书记、董事长常瑞率队赴沙特首都利雅得，成功推动与沙特政府及 企业的合作，并完成千辆校车交付。 当前，沙特阿拉伯正处在加快"2030愿景"工业转型的关键战略窗口期，北汽福田敏锐捕捉机遇，在沙特 市场实现破局与跃升。6月19日，福田国贸与沙特投资部、沙特国家工业发展中心以及沙特知名企业 Petromin共同签署四方备忘录，计划在沙特阿拉伯建设商用车KD制造工厂。该工厂将主要生产重型卡 车、轻型卡车和公共汽车。 这一合作项目意义重大，是沙特政府推动"2030愿景"下工业本土化的重要举措。北汽福田将凭借自身优 势，助力当地制造业及物流发展，强化供应链体系，提升本地化生产水平，增加就业岗位，并带动属地 中小企业协同发展，为沙特工业经济转型及可持续高质量发展贡献力量。同时，这也是北汽福田持续推 进"国际化"战略、深耕市场所取得的显著成果。目前，北汽福田已在全球建 ...

Core Viewpoint - The engineering machinery industry in China is experiencing a recovery, with significant growth in export values despite a decline in import values in recent months [7][8]. Trade Data Summary - In May 2025, China's engineering machinery import and export trade amounted to $5.238 billion, a year-on-year increase of 8.1%, with imports at $214 million (down 0.74%) and exports at $5.024 billion (up 8.51%) [1]. - In April 2025, the trade total was $5.377 billion, a 12% increase year-on-year, with imports at $226 million (down 2.2%) and exports at $5.152 billion (up 12.7%) [2]. - For March 2025, the trade value was $5.167 billion, reflecting a 7.53% year-on-year growth, with imports at $255 million (down 5.85%) and exports at $4.912 billion (up 8.33%) [2]. - The cumulative trade from January to May 2025 reached $24.185 billion, an 8.49% increase year-on-year, with imports totaling $1.09 billion (down 0.86%) and exports at $23.095 billion (up 8.98%) [3]. - From January to April 2025, the trade value was $18.947 billion, an 8.51% increase year-on-year, with imports at $877 million (down 0.86%) and exports at $18.07 billion (up 9.01%) [4]. Export Performance - In April 2025, the export value was 36.966 billion yuan, a year-on-year increase of 13.6%, while the cumulative export from January to April was 129.738 billion yuan, up 10.3% [5]. - In March 2025, the export value was 35.231 billion yuan, reflecting a 9.51% year-on-year increase, with the first quarter's total exports at 92.787 billion yuan, up 8.99% [6]. - The export value for January 2025 was 34.001 billion yuan, a 16.8% increase year-on-year, while February saw a decline to 23.558 billion yuan, down 1.27% [6]. Market Dynamics - The engineering machinery industry is expected to see improved conditions, with a notable increase in demand and a positive outlook for the coming months [9][10].

当我们拨开喧嚣，将目光投向整个产业链时，一个更隐蔽的真 相浮出水面：那些体量庞大的零配件巨头正以更长的账期，成 为压在中小企业头上的大山。 作者： 马飘 封图：图虫创意 刚刚看到一个官司，一家模具企业起诉了东风体系和上汽体系合资的一家零配件企业集团。表面上 看，这个官司是承揽合同纠纷，本质还是账期问题：小企业把东西做完了，但大厂没有给够钱，可 能过程中合同还有瑕疵。 最近一周以来，整车厂关于60天账期的承诺获得了市场的掌声。之前，在汽车产业的聚光灯下， 整车厂常被视为压榨中小供应商的元凶。现在，他们勇敢地走出了第一步。 然而，当我们拨开喧嚣，将目光投向整个产业链时，一个更隐蔽的真相浮出水面：那些体量庞大的 零配件巨头正以更长的账期，成为压在中小企业头上的大山。 看上去，大型零配件企业自身常陷于整车厂强势账期政策的夹缝中。但实际上，问题一部分是发生 在"自己人"身上，就像上述那家整车厂的供应商，其实是整车厂旗下的控股公司，都是自家人。这 个时候，无论整车厂痛快给钱还是拖延，这都是"一个锅里的肉"。但是，对其更上游的中小企业， 账期便可能成为致命打击。 比如，上汽集团控股的上市公司华域汽车，其应付款项周转天数为1 ...

Group 1 - In May 2025, a total of 18,202 excavators were sold, representing a year-on-year increase of 2.12%. Domestic sales were 8,392 units, down 1.48%, while exports reached 9,810 units, up 5.42% [1] - From January to May 2025, a total of 101,716 excavators were sold, marking a year-on-year increase of 17.4%. Domestic sales were 57,501 units, up 25.7%, and exports were 44,215 units, up 8.2% [2] - In May 2025, 36 electric excavators were sold, with various weight categories contributing to the total [3] Group 2 - In May 2025, a total of 10,535 loaders were sold, showing a year-on-year increase of 7.24%. Domestic sales were 6,037 units, up 16.7%, while exports were 4,498 units, down 3.31% [4][5] - From January to May 2025, a total of 52,755 loaders were sold, reflecting a year-on-year increase of 14.1%. Domestic sales were 29,607 units, up 25.4%, and exports were 23,148 units, up 2.39% [5] Group 3 - In May 2025, 649 graders were sold, down 3.28% year-on-year. Domestic sales were 112 units, up 31.8%, while exports were 537 units, down 8.36% [7] - From January to May 2025, a total of 3,580 graders were sold, marking a year-on-year increase of 14.9%. Domestic sales were 677 units, up 40.7%, and exports were 2,903 units, up 10.1% [7] Group 4 - In May 2025, 1,748 truck cranes were sold, down 8.1% year-on-year. Domestic sales were 978 units, down 3.36%, while exports were 770 units, down 13.5% [7] - From January to May 2025, a total of 9,103 truck cranes were sold, reflecting a year-on-year decrease of 8.94%. Domestic sales were 5,181 units, down 13.8%, and exports were 3,922 units, down 1.61% [8] Group 5 - In May 2025, 261 crawler cranes were sold, up 31.8% year-on-year. Domestic sales were 56 units, down 3.45%, while exports were 205 units, up 46.4% [10] - From January to May 2025, a total of 1,282 crawler cranes were sold, marking a year-on-year increase of 5.25%. Domestic sales were 402 units, down 1.23%, and exports were 880 units, up 8.51% [11] Group 6 - In May 2025, 1,681 truck-mounted cranes were sold, down 20.3% year-on-year. Domestic sales were 1,286 units, down 27.5%, while exports were 395 units, up 18.6% [13] - From January to May 2025, a total of 10,695 truck-mounted cranes were sold, reflecting a year-on-year decrease of 3.85%. Domestic sales were 8,535 units, down 6.71%, and exports were 2,160 units, up 9.42% [14] Group 7 - In May 2025, 538 tower cranes were sold, down 28.4% year-on-year. Domestic sales were 292 units, down 51.7%, while exports were 246 units, up 67.3% [15] - From January to May 2025, a total of 2,334 tower cranes were sold, marking a year-on-year decrease of 36.6%. Domestic sales were 1,278 units, down 57.1%, and exports were 1,056 units, up 51.1% [16] Group 8 - In May 2025, 123,472 forklifts were sold, representing a year-on-year increase of 11.8%. Domestic sales were 79,129 units, up 9.25%, while exports were 44,343 units, up 16.6% [17] - From January to May 2025, a total of 601,764 forklifts were sold, reflecting a year-on-year increase of 9.33%. Domestic sales were 392,490 units, up 6.66%, and exports were 209,274 units, up 14.7% [18] Group 9 - In May 2025, 1,589 rollers were sold, up 17% year-on-year. Domestic sales were 577 units, up 6.07%, while exports were 1,012 units, up 24.3% [19] - From January to May 2025, a total of 7,772 rollers were sold, marking a year-on-year increase of 23.7%. Domestic sales were 2,905 units, up 10.8%, and exports were 4,867 units, up 32.9% [20] Group 10 - In May 2025, 149 pavers were sold, up 30.7% year-on-year. Domestic sales were 107 units, up 33.8%, while exports were 42 units, up 23.5% [21] - From January to May 2025, a total of 708 pavers were sold, reflecting a year-on-year increase of 31.4%. Domestic sales were 521 units, up 32.2%, and exports were 187 units, up 29% [22] Group 11 - In May 2025, 15,653 aerial work platforms were sold, down 26.2% year-on-year. Domestic sales were 5,284 units, down 48.1%, while exports were 10,369 units, down 5.8% [25] - From January to May 2025, a total of 74,533 aerial work platforms were sold, marking a year-on-year decrease of 33.5%. Domestic sales were 29,191 units, down 48.3%, and exports were 45,342 units, down 18.4% [26] Group 12 - In May 2025, 296 high-altitude work vehicles were sold, down 33.3% year-on-year. Domestic sales were 286 units, down 34.1%, while exports remained flat at 10 units [26] - From January to May 2025, a total of 1,906 high-altitude work vehicles were sold, reflecting a year-on-year increase of 12.2%. Domestic sales were 1,803 units, up 9.74%, and exports were 103 units, up 87.3% [27]