让整个庞大机群高效、有序运转的指挥，是后台的智能调度系统。于晓颖说，这个"大脑"能实时预测各 作业面的工作量，动态优化每一台矿卡的运输路径与车速，极大减少了空驶与排队等待时间。该系统确 保了多台设备在重叠区域作业时冲突消解率达到100%，将单台矿卡的运输效率提升了10%以上。 从在断网情况下自主作业的无人挖掘机，到矿山中井然有序、自主协作的无人化机群，中国工程机械行 业的智能化路径已呈现出从单机智能向群机协同演进的轨迹。 "在灾害救援现场，救援核心是与时间赛跑，单台智能设备作业效率有限，需要智能设备的'集群协 同'。"山河智能机械工程师周斌介绍，当遥控或自主控制的推、挖、装设备形成协同作业体系，便能在 通信拒止或人员无法抵达的危险区域发挥关键作用。 这种从"单机"到"群体"的智能演进已用于工程施工现场。柳工集团的无人摊压机群在江苏的一条省道工 地上展示了"无缝衔接"：由一台无人摊铺机与四台无人压路机组成的队伍，通过高精度北斗定位、自动 控制技术与实时数据交互，自主完成了沥青路面从摊铺到压实的全流程作业，精准控制了碾压速度、遍 数与搭接宽度，消除人为操作的差异性。 面对矿区狭窄道路、连续坡道、重载粉尘等极限工况 ...

总体情况及亮点成就 "十四五"以来,我国工程机械行业在市场机制作用 下,坚持企业主体地位,加快提质增效、转型升 级，有效支撑了城乡发展、道路交通、能源电力、 应急救援、国防建设等,保障了我国重大工程、重 大项目建设需要。 产业规模快速增长 南方财经全媒体集团 佐济站出击 世纪经济报道 20 21财经 国速览"十四五"工程机械硬核答卷 O我国工程机械已形成22大类工程机械产品,成为 产品类别、品种最齐全的国家之一。 O2024年,工程机械行业预计实现营业收入8165 亿元,挖掘机、起重机、装载机等主要产品产量居 会球第一。 技术水平大幅提高 企业竞争力持续增强 o 据英国KHL发布的 上人 T + = 1 = 1 = + = + = o 16.07米超大直径盾构机、 700吨挖掘机、 4000吨级履带起重机等 重大装备成功研制并实现应用。 ○2米及以上大型全液压旋挖钻机 实现批量生产。 ○ 掘进机突破国外技术垄断, 国内市场占有率超过90%。 2025年度主以上在机械制道阎5U·由作门传 亚小, 我国有13家工程机械企业进入50强, 其中,徐工集团、三一重工分别位列第4、第6。 智能绿色化产品发展提速 O纯电动 ...

Core Insights - The company reported a revenue of 5.171 billion yuan for H1 2025, representing a year-on-year increase of 7.00%, and a net profit attributable to shareholders of 1.429 billion yuan, up 10.97% year-on-year [1] - In Q2 2025, the company achieved a revenue of 2.749 billion yuan, with a year-on-year growth of 11.24%, and a net profit of 812 million yuan, reflecting an 18.31% increase year-on-year [1] - The company has seen rapid growth in hydraulic pumps and valves, with a significant increase in market share in non-excavation industries [1] Revenue and Profit Performance - For H1 2025, the company sold 308,300 hydraulic cylinders for excavators, marking a year-on-year growth of over 15% [1] - The company has made continuous breakthroughs in hydraulic pumps and valves for medium and large excavators, leading to an increase in product market share [1] - Sales of hydraulic pumps and valves for non-excavation industries grew by over 30%, with significant sales in high-altitude work platforms, loaders, and agricultural machinery [1] R&D and Innovation - The company has increased its R&D investment, successfully breaking foreign technology monopolies with its self-developed digital servo industrial valves [2] - The automated production line for handle valves has been successfully launched, significantly enhancing the production capacity of fully electric handles [2] - The company has introduced multiple innovative products, including electronic pumps and voice coil valves, which have gained wide market recognition [2] Product Diversification - The linear actuator business has shown rapid growth, with over 50 new products developed and launched in H1 2025 [2] - The product portfolio includes precision lead screws, linear guides, and electric cylinders, reinforcing the company's technological leadership in electric and hydraulic transmission [2] Shareholder Returns - The company plans to implement a mid-term profit distribution plan for 2025, proposing a cash dividend of 3.00 yuan per 10 shares, totaling approximately 402 million yuan, which accounts for 16.03% of the net profit attributable to shareholders for 2024 [2] Profit Forecast - The company is expected to achieve net profits attributable to shareholders of 2.825 billion yuan, 3.227 billion yuan, and 3.812 billion yuan for 2025, 2026, and 2027 respectively [3]

Core Viewpoint - The Chinese construction machinery industry is undergoing a significant digital and green transformation, with companies like Zoomlion leading the way in autonomous and intelligent construction equipment [1] Group 1: Technological Advancements - The operation of concrete pump trucks has been simplified to a single joystick control, reducing the complexity from seven handles to one, enhancing precision and safety [2] - Zoomlion's autonomous construction equipment includes various machines such as concrete pump trucks, cranes, and excavators, all capable of self-operation and coordination [3] - The transition to electric-powered machinery has resulted in quieter operations, contributing to a more pleasant working environment [3] Group 2: Efficiency and Productivity - The implementation of intelligent construction systems has led to a 90% reduction in task briefing time, a 28% decrease in waiting time, and a 30% shortening of construction cycles, with labor efficiency increasing by 300% [5] - The integration of AI models is being explored to enable machines to autonomously interpret and execute tasks based on natural language commands [5] Group 3: Safety and Worker Welfare - The shift towards automation and intelligent machinery aims to enhance worker safety by removing them from hazardous environments, allowing them to focus on higher-skilled tasks [6] - The development of smart mining solutions has significantly improved safety and efficiency in extreme working conditions, such as those found in northern metal mines [6] Group 4: Future Outlook - Upcoming major projects, such as the Yaxia Hydropower Station and the New Tibet Railway, will require advanced construction techniques in challenging environments, emphasizing the need for green and digital solutions [6]

Core Viewpoint - Boreton Technology Co., Ltd. is progressing towards its IPO on the Hong Kong Stock Exchange, positioning itself as a leader in the electric engineering machinery sector, akin to "Tesla" in its field [3][10]. Company Overview - Boreton's main products include electric loaders, electric wide-body dump trucks, and electric tractors, ranking 3rd in the domestic electric loader market and 7th in the electric wide-body dump truck market [3][10]. - The company's valuation has exceeded 5 billion yuan [3]. Founder Background - Founder Chen Fangming, an 80s graduate from South China University of Technology, transitioned from a successful investment career in the renewable energy sector to entrepreneurship in engineering machinery [5][6]. - Chen identified significant opportunities in the electrification of engineering machinery, which has a substantial carbon emission reduction potential [6][9]. R&D and Product Development - Boreton chose a forward R&D approach for electric engineering machinery, which requires significant investment and has faced skepticism from industry peers [9][10]. - After two years of development, Boreton launched its first product, the 5-ton electric loader BRT951EV, filling a market gap for electric loaders [9][10]. Market Growth and Financial Performance - The Chinese renewable engineering machinery market is projected to grow at a compound annual growth rate (CAGR) of 17.2%, reaching 176 billion yuan by 2029 [14]. - Boreton's revenue increased from 360 million yuan in 2022 to 636 million yuan in 2024, with a CAGR of 32.8% [14]. - The company’s sales volume for electric wide-body dump trucks rose from 59 units in 2022 to 307 units in 2024, while electric loaders increased from 326 to 450 units [14]. Challenges and Losses - Despite revenue growth, Boreton faces high sales costs leading to increasing losses, with figures of 178 million yuan, 229 million yuan, and 275 million yuan from 2022 to 2024 [15]. - The low gross margin is attributed to significant inventory impairment losses and high R&D investments [15]. Investment and Financing - Boreton has completed seven rounds of financing since its inception, with notable investors including state-owned funds from Hunan, Shanghai, and Hubei [17][20]. - The company has established a production base in Hunan with an annual capacity of 5,000 electric mining trucks, with a total investment of 1.5 billion yuan [20]. Strategic Direction - Boreton is expanding its product offerings towards automation and smart machinery, including the launch of a remote-operated loader [10][12]. - The company aims to accelerate its global expansion by targeting markets in the Americas, Africa, and Southeast Asia by 2025 [22].