证券之星消息，10月28日工程机械板块较上一交易日下跌1.81%，徐工机械领跌。当日上证指数报收于 3988.22，下跌0.22%。深证成指报收于13430.1，下跌0.44%。工程机械板块个股涨跌见下表： | 代码 | 名称 | 主力净流入(元) | 主力净占比 游资净流入 (元) | | 游资净占比 散户净流入 (元) | | 散户净占比 | | --- | --- | --- | --- | --- | --- | --- | --- | | 600815 | 厦工股份 | 1.03 Z | 32.58% | -4056.24万 | -12.84% | -6237.43万 | -19.74% | | 603280 | 南方路机 | 7707.24万 | 20.10% | -3741.87万 | -9.76% | -3965.37万 | -10.34% | | 605305 | 中际联合 | 2764.45万 | 8.35% | -595.34万 | -1.80% | -2169.11万 | -6.55% | | 301446 | 福事特 | 981.99万 | 6.58% | -564.52万 | -3 ...

Core Points - Sany Heavy Industry Co., Ltd. (Sany Heavy Industry, 06031.HK) was listed on the Hong Kong Stock Exchange today, opening at HKD 21.3 and closing at HKD 21.9, representing a gain of 2.82% [1] - The final offer price was set at HKD 21.30, with total proceeds amounting to HKD 13,453.1 million, and net proceeds after estimated listing expenses of HKD 145.8 million were HKD 13,307.3 million [4][5] Share Offering and Capital Structure - A total of 631,598,800 shares were offered, with 58,042,600 shares available for public offering and 573,556,200 shares for international offering [2] - The number of shares issued at listing (before the exercise of the over-allotment option) was 9,105,988,837 [2] Key Investors - Notable cornerstone investors include Temasek, Yingfeng Capital, HHLRA, UBS AM Singapore, LMR, BlackRock Fund, RBC GAM, and Oaktree, among others [4][5]

Core Viewpoint - Sany Heavy Industry announced a global offering of H-shares totaling 631,598,800 shares, with a net estimated amount of approximately HKD 13.307 billion after deducting underwriting commissions and other estimated expenses [1] Group 1: Offering Details - The total number of H-shares for global offering is 631,598,800 shares [1] - The Hong Kong public offering consists of 58,042,600 shares, accounting for approximately 9.19% of the total global offering [1] - The international offering includes 573,556,200 shares, representing about 90.81% of the total global offering [1] Group 2: Financial Projections - The estimated net proceeds from the global offering, assuming the over-allotment option is not exercised, is approximately HKD 13.307 billion based on an H-share price of HKD 21.30 per share [1]

【导读】"双十"基金经理三季度调仓动作和后市观点 伴随基金三季报密集披露，一批长期业绩出众的"双十"（投资年限超过10年且任职基金经理以来年化收益超10%）投资老将调仓动作和后市观点，受到投 资者关注。 多位"双十"基金经理表示，基本面和流动性的良性互动刚刚开始，将驱动市场长期趋势发生反转。展望后市，A股市场有望形成"价值股搭台、成长股唱 戏"格局，不同风格轮动表现，驱动市场走出向上行情；关注AI、机器人、创新药、芯片、有色、化工等板块。 周蔚文：增配有色金属、工程机械、化工板块 人工智能产业链是重点布局方向 数据显示，中欧基金基金经理周蔚文拥有近19年投资经验，截至10月27日，其任职基金经理以来年化回报近15%。由他管理的中欧新蓝筹自2008年成立以 来业绩高达870.53%，同类排名第一，近一年、近三年业绩分别排在前7%和前10%分位。 根据三季报，中欧新蓝筹三季度利润为37.43亿元，股票仓位为77.55%，主要布局有色金属、工程机械、化工板块、人工智能产业链等方向。 中欧新蓝筹的前三大重仓股为新易盛、中际旭创、万华化学，工业富联、兴业银锡、天孚通信、新泉股份"新晋"十大重仓股。 增持方面，与上季度相 ...

【导读】"双十"基金经理三季度调仓动作和后市观点 中国基金报记者 曹雯璟 伴随基金三季报密集披露，一批长期业绩出众的"双十"（投资年限超过10年且任职基金经理 以来年化收益超10%）投资老将调仓动作和后市观点，受到投资者关注。 多位"双十"基金经理表示，基本面和流动性的良性互动刚刚开始，将驱动市场长期趋势发生 反转。展望后市，A股市场有望形成"价值股搭台、成长股唱戏"格局，不同风格轮动表现，驱 动市场走出向上行情；关注AI、机器人、创新药、芯片、有色、化工等板块。 周蔚文： 增配有色金属、工程机械、化工板块 人工智能产业链是重点布局方向 Wind数据显示，中欧基金基金经理周蔚文拥有近19年投资经验，截至10月27日，其任职基 金经理以来年化回报近15%。由他管理的中欧新蓝筹自2008年成立以来业绩高达 870.53%，同类排名第一，近一年、近三年业绩分别排在前7%和前10%分位。 根据三季报，中欧新蓝筹三季度利润为37.43亿元，股票仓位为77.55%，主要布局有色金 属、工程机械、化工板块、人工智能产业链等方向。 中欧新蓝筹的前三大重仓股为新易盛、中际旭创、万华化学，工业富联、兴业银锡、天孚通 信、新泉股份 ...

Investment Rating - The report maintains a "Buy" rating for the company [4] Core Views - The company's net profit attributable to shareholders increased by 31% year-on-year in Q3 2025, indicating a significant acceleration in performance growth [2] - The company's revenue for Q3 2025 reached 2.62 billion yuan, up 24.5% year-on-year, with net profit attributable to shareholders at 660 million yuan, reflecting a 30.6% increase [2] - The excavator segment is expected to see substantial revenue growth, with small, medium, and large excavator cylinder revenues increasing by 60%, 5%, and 25% respectively, driven by market share gains [2] - The company's profitability has improved significantly, with a net profit margin of 25.2% in Q3, up 1.2 percentage points year-on-year [3] - The establishment of a hydraulic component production base in Mexico is expected to enhance the company's access to high-end customers in North America [4] Financial Summary - The company's total revenue is projected to grow from 8.985 billion yuan in 2023 to 15.011 billion yuan in 2027, with a compound annual growth rate (CAGR) of approximately 19.78% [1] - Net profit attributable to shareholders is forecasted to increase from 2.499 billion yuan in 2023 to 4.141 billion yuan in 2027, reflecting a CAGR of 21.30% [1] - The latest diluted earnings per share (EPS) is expected to rise from 1.86 yuan in 2023 to 3.09 yuan in 2027 [1]

Core Viewpoint - The performance of SANY Heavy Industry (06031.HK) during its IPO was disappointing compared to other newly listed stocks, which saw significant gains, indicating a lack of market interest in SANY's shares [1][2]. Group 1: IPO Performance - SANY Heavy Industry's stock price barely increased after its IPO, only rising a few percentage points in the morning, contrasting sharply with other new listings like Dipo Technology (01384.HK), which doubled in price [1]. - The high IPO price of SANY at HKD 21.3 left little room for appreciation in the secondary market, with a discount of only about 10% compared to its A-share price [2]. - In comparison, Cambridge Technology (06166.HK) had a much lower H-share issuance price, leading to a 40% increase on its first day of trading [2]. Group 2: Market Dynamics - The low participation of retail investors in SANY's IPO, with a subscription rate of 52.93 times but only 10% of shares allocated to the public, limited the potential for post-IPO price increases [2]. - Institutional investors accounted for a significant portion of the shares, which may stabilize the stock price but also indicates a lack of retail interest [2]. - The simultaneous listing of four new stocks highlighted the varying levels of market enthusiasm for different sectors, with technology and consumer stocks performing well, while SANY's traditional engineering machinery sector lagged [2][3]. Group 3: Industry Context - SANY Heavy Industry operates in a traditional and cyclical engineering machinery sector, which is heavily influenced by macroeconomic conditions, limiting its growth potential [3]. - For investors interested in the engineering machinery sector, it may be more beneficial to consider established companies in the Hong Kong market, such as Zoomlion Heavy Industry and China National Heavy Duty Truck Group, which have shown better long-term performance [3].

Core Viewpoint - Sany Heavy Industry officially listed on the Hong Kong Stock Exchange on October 28, marking a significant step in its capital layout and globalization strategy, successfully establishing an "A+H" dual-platform listing structure [1][4]. Group 1: Listing Details - The company issued approximately 632 million H-shares at an offering price of HKD 21.30 per share, with a 15% over-allotment option [5]. - A total of 21 cornerstone investors participated in the IPO, collectively subscribing to USD 759 million worth of shares [5]. Group 2: Strategic Initiatives - Sany Heavy Industry is advancing its three core strategies: globalization, digitalization, and low-carbon initiatives [7][8]. - The company is recognized as the largest engineering machinery enterprise in China and the third largest globally, with products sold in over 150 countries and regions [7]. - From 2022 to 2024, the company's overseas revenue is expected to grow at a compound annual growth rate of 15.2% [7]. Group 3: Product and Market Performance - Sany Heavy Industry has achieved the highest cumulative sales of excavators and the highest cumulative revenue from concrete machinery globally from 2020 to 2024 [7]. - The company plans to launch over 40 new energy products in 2024, with revenue from these products projected to be approximately CNY 4.025 billion, significantly exceeding the global industry average [8]. - Sany's electric excavators, electric concrete mixers, and electric dump trucks rank first in sales in China [8].

华声在线10月28日讯（全媒体记者 曹娴）10月28日，三一重工股份有限公司（6031.HK）在香港交易所 主板正式挂牌上市。这是三一重工继2003年7月3日登陆上海证券交易所（600031.SH）后，在资本布局 和全球化战略上迈出的关键一步，标志着公司成功构建A+H双平台上市格局。 当天9点30分，三一集团轮值董事长、三一重工董事长向文波与三一集团董事、三一重工总裁俞宏福一 起，在香港交易所交易大厅敲响开市锣。清脆的锣声，象征着三一重工站在新的起点，借助香港国际金 融中心渠道，全面对接国际资本市场，开启全球化发展的全新篇章。 10月28日，三一重工股份有限公司在香港交易所主板正式挂牌上市。三一重工供图 三一集团轮值董事长、三一重工董事长向文波与三一集团董事、三一重工总裁俞宏福，在香港交易所交 易大厅敲响开市锣。三一重工供图 三一重工本次港股上市，全球发售约6.32亿股H股，另有15%超额配股权，发行价为21.30港元/股。此次 IPO招股引入21名基石投资者，合共认购7.59亿美元的发售股份，基石投资者包括淡马锡、贝莱德、盈 峰资本、高瓴、瑞银资管、LMR、RBC GAM、WT、橡树资本、睿远基金、高毅、景 ...

Core Viewpoint - SANY Heavy Industry successfully listed on the Hong Kong Stock Exchange, enhancing its global resource allocation capabilities through the "A+H" dual-platform strategy [1] Group 1: Company Developments - SANY Heavy Industry's sole global strategic partner, Rongli Construction, publicly celebrated the listing, highlighting its essential role in SANY's strategic framework [1] - The collaboration between SANY and Rongli is expected to deepen, leveraging Rongli's local operational experience and SANY's technological capabilities for enhanced global cooperation [1] Group 2: Market Expectations - The market anticipates further resource integration and market expansion following SANY's listing on the Hong Kong Stock Exchange [1] - The partnership is expected to create complementary synergies, increasing the potential for industry leadership and value creation on a global scale [1]