证券代码：600031 证券简称：三一重工 公告编号：2025-063 三、审议通过《2025 年"提质增效重回报"行动方案》 表决结果： 7 票同意， 0 票反对， 0 票弃权。 三一重工股份有限公司 第九届董事会第四次会议决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承 担个别及连带责任。 三一重工股份有限公司（以下简称"公司"）第九届董事会第四次会议于 2025 年 8 月 21 日以通讯表决方式召开。会议应参加表决的董事 7 人，实际参加表决的 董事 7 人。会议符合《公司法》和《公司章程》的有关规定，审议通过以下议案： 一、审议通过《2025 年半年度报告及报告摘要》 表决结果： 7 票同意， 0 票反对， 0 票弃权。 二、审议通过《2025 年半年度利润分配预案》 本次利润分配预案为：以公司 2025 年半年度利润分配股权登记日的总股本， 在扣除回购专用账户中的回购股份数后为基数，向全体股东每 10 股派发现金红利 表决结果： 7 票同意， 0 票反对， 0 票弃权。 具体内容详见与本公告同日披露于上海交易所网站的《 ...

半年度利润分配预案》：以公司 2025 年半年度利润分配股权登记日总股本，在扣除回 购专用账户中的回购股份数后为基础，向全体股东每 10 股派发现金红利 3.10 元（含 税）。本利润分配预案提交股东会审议。 证券代码：600031 证券简称：三一重工 公告编号：2025-065 三一重工股份有限公司 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导 性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及 连带责任。 重要内容提示： 截至 2025 年 8 月 21 日，公司总股本 8,474,390,037 股，扣除回购专用账户中的回 购股份 42,987,413 股后，即以 8,431,402,624 股为基数进行测算，每股派发 0.31 元， 合计拟派发现金红利 2,613,734,813.44 元（含税）。据此测算，本次现金分红金额占 2025 年半年度合并报表实现归属于上市公司股东净利润的 50.11%。2025 年半年度不送红 股，也不实施资本公积金转增股本。 如在本公告披露之日起至实施权益分派股权登记日期间，因可转债转股/回购股份 /股权激励授予股份回购注销/重大资产重组股 ...

Core Viewpoint - The company held its fourth meeting of the ninth supervisory board on August 21, 2025, where it approved the 2025 semi-annual report and the profit distribution plan, reflecting its commitment to transparency and shareholder returns [1][2]. Group 1: Semi-Annual Report - The supervisory board reviewed and approved the 2025 semi-annual report, confirming that the internal management systems and information accurately reflect the company's operational and financial status [1]. Group 2: Profit Distribution Plan - The profit distribution plan proposes a cash dividend of 3.10 yuan (including tax) for every 10 shares, based on the total share capital after deducting repurchased shares [2]. - The supervisory board believes the plan considers the company's current development stage and cash flow, balancing sustainable growth and shareholder returns [2].

Summary of Conference Call Records Industry Overview - The conference call discusses the engineering machinery industry, particularly focusing on the impact of the Yarlung Zangbo River project on the sector [1][14]. Key Points and Arguments - **Export Growth**: From January to July 2025, excavator exports increased by over 10%, indicating a recovery in global manufacturing. The growth in medium and large excavators significantly boosted profit margins, with gross margins 5-10 percentage points higher than small excavators [1][4][5]. - **Yarlung Zangbo Project Investment**: The total investment for the Yarlung Zangbo project is 1.2 trillion yuan, with construction investment exceeding 700 billion yuan. The engineering machinery sector is expected to account for 15-20% of this, driving demand over 100 billion yuan [1][14]. - **Equipment Procurement**: The project has a procurement budget of approximately 180 billion yuan, with concrete and earth-moving equipment making up 30-35%, shield machines 10-15%, and dump trucks and tower cranes 20-25%. Procurement is expected to begin in Q4 2025 and peak in the first half of 2026 [1][12][13]. - **Demand for Automation and Electrification**: The project emphasizes the need for unmanned and electric equipment, with expectations for unmanned mining vehicles to see significant market penetration by 2024, reaching a 6% penetration rate [1][7][8]. - **Market Conditions**: The engineering machinery industry is currently in an upward cycle, with favorable liquidity conditions. The anticipated interest rate cuts by the Federal Reserve are expected to enhance the global investment environment, boosting overseas demand [1][6][16]. - **Technological Advancements**: Major players like SANY and XCMG are leading in the fields of electrification and automation, having developed advanced products such as 5G remote-controlled excavators and fully electric excavators [4][10]. - **Profitability Projections**: The Yarlung Zangbo project is expected to have a strong profitability profile, with gross margins projected between 25% and 35% due to the high delivery ratio of electric and unmanned products [14]. Additional Important Insights - **Market Dynamics**: The domestic engineering machinery market is expected to see a significant increase in replacement demand over the next two to three years, supported by improved funding conditions [3][6]. - **Future Market Size**: The unmanned mining vehicle market is projected to grow from 2 billion yuan in 2024 to around 30 billion yuan by 2030, with penetration rates expected to rise to 50% [2][8]. - **Competitive Landscape**: The market includes various participants, including solution providers and IT companies, with a trend towards light asset models collaborating with major manufacturers [9][11]. This summary encapsulates the critical insights from the conference call, highlighting the engineering machinery industry's current state, future prospects, and the significant impact of the Yarlung Zangbo project.

Core Insights - Sany Heavy Industry (600031.SH) reported a revenue of 44.534 billion yuan for the first half of 2025, marking a year-on-year increase of 14.96% [1] - The net profit attributable to shareholders reached 5.216 billion yuan, reflecting a year-on-year growth of 46.00% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 5.409 billion yuan, up 73.06% year-on-year [1] - Basic earnings per share stood at 0.6175 yuan [1] Financial Performance - In Q2, the company achieved a revenue of 23.485 billion yuan, which is an increase of 11.43% compared to the same period last year [1] - The net profit attributable to shareholders for Q2 was 2.745 billion yuan, showing a year-on-year growth of 37.76% [1] Balance Sheet - As of June 30, 2025, the total assets of the company amounted to 153.621 billion yuan [1] - The net assets attributable to shareholders were recorded at 73.485 billion yuan [1]

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company experienced a decline in performance due to pressure in the railway and highway market, but there was a quarter-on-quarter improvement in revenue in Q2 2025. The H1 2025 revenue was 384 million, with a year-on-year decrease of 5%, while Q2 2025 revenue was 211 million, showing a quarter-on-quarter increase of 22% [2] - The company is focusing on tunnel construction and mining, achieving significant growth in these sectors. In H1 2025, mining revenue increased by 183% year-on-year, while water conservancy revenue grew by 73% [3] - The company is optimistic about the long-term growth potential from the Yaxia hydropower project, with a total investment of approximately 1.2 trillion. The company is expected to benefit from increased demand for its products as the project enters its peak construction phase [4] Summary by Sections Financial Performance - H1 2025 total revenue was 384 million, with a net profit of 51 million, reflecting a year-on-year decline of 27%. The Q2 2025 revenue was 211 million, with a net profit of 19 million, showing a quarter-on-quarter increase in revenue but a decline in net profit [2] - The gross margin for H1 2025 was 31.73%, down 14.75 percentage points year-on-year, while the net profit margin was 13.27%, down 22.86 percentage points year-on-year [2] Business Focus - The company is concentrating on tunnel construction and mining, with a focus on small and medium-sized mines, achieving a revenue of 45.82 million in H1 2025, up 183% year-on-year [3] - In the water conservancy sector, the company has developed innovative intelligent construction equipment, generating 31.54 million in revenue in H1 2025, a 73% increase year-on-year [3] M&A and Future Prospects - The company is in the process of acquiring 100% equity of Wuxin Heavy Industry and Xingzhong Technology, with the review of the transaction resuming. This acquisition is expected to enhance the company's capabilities in the water conservancy and mining sectors [4] - The company maintains a profit forecast for 2025-2027, with net profits projected at 1.21 billion, 1.44 billion, and 1.70 billion respectively, corresponding to a P/E ratio of 49.40, 41.54, and 35.28 [4]

交易行情显示，8月21日，三一重工股价收涨0.72%，收于21元/股，总市值1780亿元。 北京商报讯（记者 马换换 王蔓蕾）8月21日晚间，三一重工（600031）发布2025年半年度报告显示，公 司上半年实现归属净利润约为52.16亿元，同比增长46%。 中报显示，三一重工主要从事工程机械的研发、制造、销售和服务。2025年上半年，公司实现营业收入 约为445.34亿元，同比增长14.96%；对应实现归属净利润约为52.16亿元，同比增长46%。 ...

三一重工（SH 600031，收盘价：21元）8月21日晚间发布半年度业绩报告称，2025年上半年营业收入 约445.34亿元，同比增加14.96%；归属于上市公司股东的净利润约52.16亿元，同比增加46%；基本每股 收益0.6175元，同比增加46.19%。 （文章来源：每日经济新闻） ...

2025年1至6月份，三一重工的营业收入构成为：工程机械行业占比97.48%，其他业务占比2.52%。 （文章来源：每日经济新闻） 三一重工（SH 600031，收盘价：21元）8月21日晚间发布公告称，公司第九届第四次董事会会议于 2025年8月21日以通讯表决方式召开。会议审议了《关于召开2025年第四次临时股东会的议案》等文 件。 ...

其中，亚澳区域作为三一重工的第一大海外市场，实现营收114.55亿元，增长16.3%；非洲区域则增长 幅度最大，同比增长40.48%达36.30亿元。 此外，三一重工在美洲区域实现营收50.65亿元，增长1.36%。公司曾透露，目前来看公司对美业务收入 占总体营收比例相对不算高，关税政策暂未对公司经营业绩产生重大冲击。"公司不断优化全球市场布 局，积极开拓国际市场，以减少对单一市场的依赖程度。"三一重工表示。 三一重工（600031）8月21日晚间披露半年报显示，公司实现营业收入445.34亿元，同比上升15%；归 属于上市公司股东的净利润52.16亿元，同比增长46%。 报告期内，三一重工盈利能力明显提升，多元化布局下海外业务进一步扩张。目前，三一重工海外收入 占主营业务收入比重已超六成。 盈利能力提升 回顾2025年上半年经营情况，三一重工表示，工程机械行业延续复苏态势。国内需求在超长期国债发 行、设备更新政策深化落地及新能源转型加速的驱动下，挖掘机械、混凝土机械、起重机械等核心产品 的国内销售全面实现增长；海外市场保持高景气度，尤其在矿产开发、能源基建领域需求旺盛，海外销 售进一步增长。 各细分品类中， ...