Core Viewpoint - The article emphasizes that Weichai Lovol is a benchmark for the development of China's agricultural machinery, transitioning from following traditional American giants to becoming a leader in the industry [4]. Group 1: Company Overview - Weichai Lovol, a subsidiary of Weichai Power (000338.SZ), is preparing for an IPO in Hong Kong after initially planning to list on the ChiNext board in 2022 [3]. - The company is the leader in China's agricultural machinery and smart agricultural machinery sectors, with a projected total revenue of 17.4 billion RMB in 2024, capturing 21.2% of the market share [5][6]. Group 2: Market Position - In the smart agricultural machinery sector, Weichai Lovol holds a market share of 46%, significantly ahead of its competitors [6]. - The company leads in various product segments, including tractors (22.6% market share), smart tractors (52.7%), and harvesting machinery (53.5%) [11]. Group 3: Financial Performance - Weichai Lovol's revenue from 2022 to 2024 is projected to be 15.95 billion, 14.68 billion, and 17.39 billion RMB, respectively, with tractors and harvesting machinery being the core products [13]. - The net profit (excluding non-recurring items) is expected to grow from 768 million RMB in 2022 to 956 million RMB in 2024, despite a relatively low net profit margin of around 5.5% [23][24]. Group 4: R&D and Competitive Advantage - The company has been increasing its R&D investment, with expenditures rising from 570 million RMB in 2022 to 839 million RMB in 2024, which is crucial for maintaining its competitive edge [23][29]. - Weichai Lovol has the largest R&D team in the industry, with over 2,500 members, 33.5% of whom hold master's degrees or higher [29]. Group 5: Market Opportunities - The agricultural machinery industry in China is expected to grow due to government emphasis on food security and the transition from traditional to modern agriculture [37]. - Weichai Lovol is positioned to lead the shift towards intelligent and modern agricultural practices, which presents significant growth opportunities [38].

本申請版本為草擬本，其內所載資訊並不完整，亦可能會作出重大變動。 閣下閱覽本文件，即代表 閣 下知悉、接納並向本公司、獨家保薦人、獨家保薦人兼整體協調人、整體協調人、顧問或包銷團成員表示 同意： 香港聯合交易所有限公司與證券及期貨事務監察委員會對本申請版本的內容概不負責，對其準確性或完整 性亦不發表任何聲明，並明確表示概不就因本申請版本全部或任何部分內容而產生或因倚賴該等內容而引 致的任何損失承擔任何責任。 Weichai Lovol Intelligent Agricultural Technology Co., Ltd. （濰柴雷沃智慧農業科技股份有限公司） （「本公司」） （於中華人民共和國註冊成立的股份有限公司） 的申請版本 警告 本申請版本乃根據香港聯合交易所有限公司（「聯交所」）及證券及期貨事務監察委員會（「證監會」）的要求 而刊發，僅用作提供資訊予香港公眾人士。 倘於適當時候向香港公眾人士提出要約或邀請，準投資者務請僅依據本公司向香港公司註冊處處長登記的 招股章程作出投資決定。該文件的文本將於發售期內向公眾人士派發。 (a) 本文件僅為向香港公眾人士提供有關本公司的資料，概無任何其他目的；投資者 ...

我叫王甜甜，一名80后"新农人"，在村里承包了600多亩土地种稻米。这几年，家里陆续添置了植保无 人机、大型收割机等智能农机，种田基本实现了机械化，一个人能干完过去几十个人才能完成的农活。 在我们家，我负责操作农机干活，爸妈负责提供农事经验指导，奶奶担任农田的"代言人"。 戴淑英正在操作植保无人机。 新华社记者周牧、杜潇逸摄 在安徽桐城新渡镇老梅村，如果你看到一位白发老人在田埂上操作农用无人机，从装电池、展开机翼、 灌肥料，再到滑动屏幕操作起飞，整个过程一气呵成——那位老人就是我的奶奶，今年82岁的戴淑英。 作为留在村里的年轻人，我对乡村生活的感情很深。这里空气好、日子长、节奏慢，在田野中散散步， 那种自由自在的感觉，在城市里很难找到。但得承认，现在在村里，只靠种地很难挣到钱，所以更要抓 住互联网带来的机遇。对于未来，我有很多规划：一是投入更多时间和精力搞短视频和直播，将线上电 商作为我们家大米的主要销售渠道；二是学习更多农业技术，探索用大棚种植受欢迎的绿色食品；三是 用我们的流量帮忙宣传桐城的文旅。外来游客多了，村里更热闹，我们的农产品也会卖得更好。希望大 家有机会都来桐城走一走，看一看！ 奶奶年轻时读过私 ...

"要是妈妈能看到，插秧割稻都不用人下田了，该多高兴啊。"晚稻收获时节，80岁的罗锡文院士站在广 州增城的全球首个水稻无人农场，望着田间自主作业的无人驾驶收获机，不禁感慨。 他是中国工程院院士，是农民信赖的罗老师，也是微信备注里"开直播机的老头"。无论是在学术大会上 面对中外嘉宾，还是在田间和实验室里带领学生拆解农机、调试设备、校准数据，他传递的始终是"让 农民好用"的核心理念。而那张脚踩泥泞、手扶农机的微信头像，也恰是这份初心和坚守的直观写照， 让他的形象愈发鲜活真切。 他带领团队深耕农机研发，将北斗导航技术融入农机装备核心，打破国外农机导航技术垄断，更以"交 钥匙服务"让农民从"面朝黄土背朝天"迈入"一键种地"的科技农业新阶段。 而这一创新，也正是对"谁来种地、怎样种地" 的鲜活回应。面对农业转型升级的迫切需求，以及不少 人不愿再俯身农耕的现实挑战，技术越简便实用，农业就越具吸引力，更多人也就更愿意投身农业。 "田里也有大学问。"这不仅是罗锡文对学生的勉励，更是他深耕半个世纪的实践智慧。当"十五五"国家 规划建议锚定"推进高端智能、丘陵山区适用农机装备的研发应用，促进良田良种良机良法集成增效"的 发展航向， ...

"要是妈妈能看到，插秧割稻都不用人下田了，该多高兴啊。"晚稻收获时节，80岁的罗锡文院 士站在广州增城的全球首个水稻无人农场，望着田间自主作业的无人驾驶收获机，不禁感慨。 他是中国工程院院士，是农民信赖的罗老师，也是微信备注里"开直播机的老头"。无论是在学 术大会上面对中外嘉宾，还是在田间和实验室里带领学生拆解农机、调试设备、校准数据，他 传递的始终是"让农民好用"的核心理念。而那张脚踩泥泞、手扶农机的微信头像，也恰是这份 初心和坚守的直观写照，让他的形象愈发鲜活真切。 他带领团队深耕农机研发，将北斗导航技术融入农机装备核心，打破国外农机导航技术垄断， 更以"交钥匙服务"让农民从"面朝黄土背朝天"迈入"一键种地"的科技农业新阶段。 而这一创新，也正是对"谁来种地、怎样种地" 的鲜活回应。面对农业转型升级的迫切需求， 以及不少人不愿再俯身农耕的现实挑战，技术越简便实用，农业就越具吸引力，更多人也就更 愿意投身农业。 "田里也有大学问。"这不仅是罗锡文对学生的勉励，更是他深耕半个世纪的实践智慧。当"十 五五"国家规划建议锚定"推进高端智能、丘陵山区适用农机装备的研发应用，促进良田良种良 机良法集成增效"的发展航向 ...

Core Viewpoint - Suchang Chai A announced the establishment of a private equity investment fund in collaboration with Changzhou Investment Group, focusing on advanced manufacturing and strategic emerging industries [1] Group 1: Fund Establishment - The board of directors approved the proposal to jointly establish the Changzhou Changtou Xinhui No. 1 Private Equity Investment Fund with Changzhou Investment Group and Changzhou Xinhui Private Fund Management Co., Ltd [1] - The company will contribute 30 million yuan as a limited partner through Changzhou Housheng Investment Co., Ltd [1] Group 2: Investment Focus - The fund will invest in advanced manufacturing projects, particularly in high-end manufacturing, smart agricultural machinery, new energy, and new power sectors [1] - The fund has completed the private equity fund registration process with the Asset Management Association of China and has obtained the Private Equity Fund Registration Certificate [1]

Core Insights - The "Three-Year Action Plan for High-Quality Development of Agricultural Machinery Equipment Industry in Hunan Province (2025-2027)" aims to establish a nationally influential smart agricultural machinery industry chain centered in Changsha, with goals to cultivate one hundred-billion enterprise and three ten-billion enterprises [1][2] Group 1: Development Goals - The plan outlines a development layout of "one center, three bases, and three demonstration areas," focusing on Changsha as the core for smart agricultural innovation, supported by manufacturing bases in Loudi, Chenzhou, and Changde [1][2] - By 2027, the revenue of large-scale agricultural machinery enterprises in Hunan is expected to exceed 20 billion, with an average annual growth rate of over 10% [1] Group 2: Technological Advancements - The plan emphasizes the development of high-end equipment in artificial intelligence and eco-friendly technologies, leveraging Changsha's educational resources and industrial foundation [2] - It aims for smart agricultural machinery to account for over 60% of the total by 2027, with companies like Zoomlion already making significant advancements in this area [3] Group 3: Market Expansion - The plan includes strategies to expand overseas markets, promoting Hunan's agricultural machinery at international exhibitions and establishing localized service teams in countries along the Belt and Road Initiative [4] - Zoomlion has been proactive in international market expansion, recently showcasing its products at major global agricultural machinery exhibitions, enhancing its brand presence [4]

Core Viewpoint - Su Changchai A (000570.SZ) plans to establish a private equity investment fund named Changzhou Changtou Xinhui No.1 Fund, focusing on advanced manufacturing and strategic emerging industries, with a total scale of 70 million yuan [1] Group 1: Investment Details - The company will invest 30 million yuan through its wholly-owned subsidiary, Changzhou Housheng Investment Co., Ltd., as a limited partner in collaboration with its controlling shareholder, Changzhou Investment Group Co., Ltd., and Changzhou Xinhui Private Equity Fund Management Co., Ltd. [1] - The fund will primarily target investments in high-end manufacturing, smart agricultural machinery, new energy, and new power sectors [1] Group 2: Strategic Implications - The collaboration aims to leverage the financial capital of the investment group and the industrial resource advantages of Su Changchai, enhancing synergies between the parties [1] - This investment is seen as a pathway for Su Changchai to explore "transformation and upgrading," which is beneficial for the company's long-term development [1]

Core Viewpoint - Suchang Chai A announced the establishment of a new equity investment fund, focusing on advanced manufacturing and strategic emerging industries [1] Group 1: Fund Establishment - The company plans to set up the Changzhou Changtou Xinhui No. 1 Equity Investment Fund (Limited Partnership) with a total scale of 70 million yuan [1] - Changzhou Housheng Investment Co., Ltd. will act as a limited partner, contributing 30 million yuan alongside the controlling shareholder, Changzhou Investment Group Co., Ltd., and Changzhou Xinhui Private Equity Fund Management Co., Ltd. [1] Group 2: Investment Focus - The fund will invest in advanced manufacturing projects, with a particular emphasis on high-end manufacturing, intelligent agricultural machinery, new energy, and new power [1]

Core Viewpoint - The "Shandong Province Agricultural Machinery Equipment High-Quality Development Action Plan (2026-2027) (Draft for Comments)" emphasizes the establishment of a national-level industrial cluster focused on high-end, intelligent, and green development in the agricultural machinery sector [1] Group 1: Industrial Development - The plan aims to build the Weilinri Intelligent Agricultural Machinery National Advanced Manufacturing Cluster as a key initiative [1] - The focus is on achieving breakthroughs in core technologies and upgrading product iterations, particularly in hydraulic systems and intelligent control systems [1] - The initiative seeks to enhance precision manufacturing levels through collaborative innovation platforms [1] Group 2: Technological Advancements - There is a strong emphasis on the development of unmanned agricultural machinery, agricultural robots, and smart agricultural management systems [1] - The goal is to create a comprehensive intelligent solution that spans from field operations to agricultural product traceability [1]