格隆汇8月13日丨山推股份(000680.SZ)在互动平台表示，新藏铁路施工需满足高海拔、高寒等相关工 况，公司目前的搅拌站产品具备满足对应工况的能力，公司将持续关注市场需求变化情况，做好区域渠 道布局、产品布局、服务布局，敬请广大投资者谨慎决策，注意投资风险。 ...

Core Viewpoint - The company is expected to achieve long-term growth potential through continuous overseas sales, domestic sales resonance, and industry tier expansion [2]. Financial Performance - The company's revenue for Q1 2025 reached 12.117 billion, a year-on-year increase of 2.92% - The net profit attributable to shareholders was 1.410 billion, up 53.98% year-on-year - The net profit excluding non-recurring items was 874 million, reflecting a 12.40% year-on-year growth - The gross profit margin for Q1 2025 was 28.67%, an increase of 0.21 percentage points year-on-year - The net profit margin was 12.51%, up 3.84 percentage points year-on-year - The expense ratio for Q1 2025 was 17.74%, a decrease of 0.21 percentage points year-on-year - The net operating cash flow was 740 million, a significant increase of 140.96% year-on-year [2]. Global Expansion - The company's overseas revenue for Q1 2024 was 6.568 billion, a year-on-year increase of 15.17%, accounting for 54.20% of total revenue, up 5.77 percentage points year-on-year - Domestic revenue was 5.549 billion, a year-on-year decrease of 8.59% - The company has established a presence in over 170 countries with more than 430 outlets and over 7,300 overseas employees, including approximately 4,600 local foreign employees - The company has made significant achievements in international standard-setting and is actively expanding into overseas markets, particularly in countries along the "Belt and Road" initiative [3]. Industry Innovation - The company is experiencing rapid revenue growth in its second growth curve businesses, including earthmoving, mining, agricultural machinery, and high-tech equipment - The company is optimizing its industrial structure and accelerating the integration of traditional and emerging industries, with new industries contributing to new growth drivers - Traditional businesses remain strong, with the company holding the top market share in crawler cranes and second in truck cranes, as well as leading in high-value-added all-terrain cranes over 110 tons, construction cranes, and first in concrete mixing stations, and second in pump trucks [3].