本报（chinatimes.net.cn）记者陶炜 南京报道 矿业企业的绿色转型步伐，正在给电动工程机械带来巨额订单。 9月26日，全球第四大矿业巨头福德士河集团的执行董事长兼创始人安德鲁·福瑞斯特博士在联合国大会 上发表讲话时称，将在2030年实现其澳大利亚铁矿石陆地运营的真正零排放，并通过开发绿色能源技术 解决方案引领重工业实现脱碳。为达成这一目标，福德士河集团于当日在纽约宣布，已与比亚迪、隆基 绿能、徐工集团以及远景能源达成合作。 福德士河集团并不是唯一有转型打算的矿业巨头。力拓、必和必拓、淡水河谷等矿业巨头均有绿色转型 的举措。 9月26日，安德鲁·福瑞斯特在联合国大会上宣布了福德士河集团的2030年完全脱碳目标，计划彻底消除 铁矿石运营中的化石燃料使用。作为全球第四大铁矿石生产商，福德士河正转型成为全球绿色技术、能 源及金属公司，通过消除化石燃料，旨在到2030年实现其澳大利亚铁矿石陆地运营的真正零排放，并通 过开发绿色能源技术解决方案引领重工业实现脱碳。 而为实现这一目标，福德士河集团于联合国大会期间在纽约公开宣布了一系列与全球领先的绿色能源创 新企业的合作。合作方包括全球新能源汽车与电池制造及研 ...

Investment Rating - The industry investment rating is "Standard Allocation," indicating that the industry index is expected to perform within ±10% of the market index over the next six months [33]. Core Insights - In May 2025, excavator sales reached 18,202 units, a year-on-year increase of 2.12% but a month-on-month decrease of 17.79%. Domestic sales were 8,392 units, down 1.48% year-on-year and down 33.12% month-on-month. Export sales were 9,810 units, up 5.42% year-on-year and up 2.24% month-on-month, accounting for 53.90% of total sales [3]. - For the first five months of 2025, cumulative excavator sales totaled 101,716 units, a year-on-year increase of 17.44%, with domestic sales at 57,501 units (up 25.70%) and export sales at 44,215 units (up 8.20%) [3]. - In May 2025, loader sales were 10,535 units, a year-on-year increase of 7.24% but a month-on-month decrease of 9.59%. Domestic sales were 6,037 units (up 16.72% year-on-year) and export sales were 4,498 units (down 3.31% year-on-year) [4]. - Cumulative loader sales for the first five months of 2025 reached 52,755 units, a year-on-year increase of 14.13%, with domestic sales at 29,607 units (up 25.36%) and export sales at 23,148 units (up 2.39%) [4]. - The report notes that the domestic demand for excavators has turned negative in May, while cumulative sales remain robust. The decline in average working hours and operating rates for major construction machinery products is attributed to seasonal factors and demand pull-forward at the beginning of the year [5]. - The acceleration of local government bond issuance in the first five months of 2025 is expected to support domestic demand, alongside ongoing infrastructure investment and replacement policies [5]. - In April 2025, the export trade value of construction machinery was $5.152 billion, a year-on-year increase of 12.46% and a month-on-month increase of 4.89%. Cumulative export trade value for the first four months was $18.073 billion, up 9.10% year-on-year [5]. Summary by Sections Excavator Sales - May 2025 excavator sales: 18,202 units, YoY +2.12%, MoM -17.79% [3] - Domestic sales: 8,392 units, YoY -1.48%, MoM -33.12% [3] - Export sales: 9,810 units, YoY +5.42%, MoM +2.24% [3] - Cumulative sales (Jan-May 2025): 101,716 units, YoY +17.44% [3] Loader Sales - May 2025 loader sales: 10,535 units, YoY +7.24%, MoM -9.59% [4] - Domestic sales: 6,037 units, YoY +16.72% [4] - Export sales: 4,498 units, YoY -3.31% [4] - Cumulative sales (Jan-May 2025): 52,755 units, YoY +14.13% [4] Market Dynamics - Domestic excavator demand has turned negative in May, but cumulative sales remain strong [5] - Local government bond issuance is accelerating, expected to support domestic demand [5] - April 2025 export trade value: $5.152 billion, YoY +12.46% [5]