在后续举行的北交所专题研讨会上，博时基金指数与量化投资部基金经理、博时基金行业研究部研究 员、申万宏源证券（000562）专精特新首席分析师等业内专家分别围绕北交所市场展望和北证50指数基 金情况、A股工程机械行业发展趋势与前景分析、北交所市场中长期投资价值等议题向参会嘉宾进行了 专业解读。 参与活动的投资者纷纷表示，通过实地调研和专题研讨的形式，真切地感受到了北交所上市公司创新发 展成果，更对北交所支持科技创新、助力传统产业转型升级、更好地服务新质生产力发展的积极成效， 以及市场投资价值和投资机遇有了深刻的理解。 北交所介绍，"投资者零距离"——走进北证50成份股系列活动，旨在搭建投资者与北交所上市公司沟通 的良好平台，增进投资者对上市公司基本面的了解，拉近投资者与上市公司的距离，促进上市公司提升 投资者关系管理水平，助力培育理性投资文化和构建资本市场良好生态。 作为国家级制造业单项冠军，同力股份是集产品研发、设计、生产、销售及售后保障服务、总包服务为 一体的工程机械制造商。公司主要产品为各类矿山开采及大型工程物料运输所需的非公路宽体自卸车、 非公路矿用自卸车以及井巷开采所需的坑道车等。目前除传统的燃油车型 ...

Investment Rating - The investment rating for the company is "Buy" with a target price of RMB 13.40 [1] Core Views - The company is a global leader in the engineering machinery sector, with a comprehensive business layout. It has improved the quality of its traditional earth-moving machinery while achieving rapid growth through emerging sectors like mining machinery and overseas expansion. The company has seen a steady increase in net profit margin over the past two years and a continuous improvement in operating cash flow [1][17] - The domestic demand for excavators is expected to recover, with a projected year-on-year growth rate exceeding 20% from January to August 2025. The company is well-positioned to benefit from this recovery due to its leading position in various engineering machinery segments [2][17] - The global demand for mining and infrastructure is strong, with significant growth opportunities for domestic brands in overseas markets. The company has established a comprehensive global development model, enhancing its market share [3][18] - The mining machinery sector has substantial room for domestic substitution, and the company is expected to leverage the trend towards new energy to achieve rapid growth. The global market for mining equipment is large, with significant opportunities for domestic brands to increase their market share [4][19] Summary by Sections Domestic Demand Recovery - The domestic excavator market is showing signs of recovery, with a year-on-year increase in sales expected in 2024. The company is likely to benefit from this new cycle of demand recovery, particularly in rural and new infrastructure projects [17][20] Export Opportunities - The company has seen a significant increase in overseas revenue, with a compound annual growth rate (CAGR) of 62% from 2020 to 2024. The demand for engineering machinery in South America and Africa is robust, and the company is well-positioned to capture market share in these regions [18][21] Mining Machinery Growth - The global mining machinery market is expected to grow, with the company focusing on new energy and automation trends. The company has secured multiple contracts for new energy mining equipment, positioning itself for significant growth in this sector [4][19] Financial Projections - The company is projected to achieve a net profit of RMB 7.9 billion in 2025, with a steady increase in revenue and profitability expected through 2027. The target price has been adjusted to RMB 13.40 based on improved valuation metrics [6][11]