亮眼的海外业绩离不开三一重工的长期布局。据其招股书披露，2022年至2024年，三一重工海外收入复 合年增长率达15.2%。截至2024年末，三一重工已在德国、印度尼西亚、印度及美国等地建成35座智能 工厂。公司产品覆盖全球150多个国家和地区的客户，海外主要市场均已实现本地化经营。 资料显示，三一重工成立于1994年，于2003年登陆A股，目前公司市值为1946亿元。公司业务专注于挖 掘机械、混凝土机械、起重机械、桩工机械及路面机械等全系列工程机械产品的研发、制造、销售及服 务。 财务方面，2022年至2024年，三一重工的营业收入分别为808.39亿元、740.19亿元和783.83亿元，净利 润分别为42.90亿元、45.27亿元和59.75亿元。 今年上半年，三一重工实现营业收入约445.33亿元，同比增长14.96%；归母净利润为52.16亿元，同比 增长45.98%。报告期内，三一重工的经营活动产生的现金流量净额为101.34亿元，同比增长20.11%。 从收入结构来看，海外市场已成为三一重工业绩增长的核心驱动力。 数据显示，三一重工2024年来自海外的收入为485.13亿元，同比增长 12.15 ...

来源：@21世纪商业评论微博 撰文丨杨松 编辑丨鄢子为 梁稳根离港交所，又近了一步。 10月9日，其实控的三一重工，发布公告称，本次赴港上市，收到中国证监会出具的备案通知书，即业 内俗称的路条。 这家工程机械巨头，拟在港发行不超过10.8亿股，提速国际化。公告称，所募资金将用于拓展全球化业 务、加大研发投入等。 早在2009年，梁稳根就启动三一重工的H股上市，十多年间，冲击三次未果。若一切顺利，他今年将赴 港敲钟，得偿夙愿，收获第四个IPO。 值此关键节点，三一重工宣布，截至9月底，共支付13.55亿元，累计回购7267.9万股，以示信心。 出海寻机 梁稳根及儿子梁在中，仅在三一重工担任非执行董事，日常经营交由向文波团队负责。 这是其老搭档，拥有大连理工大学硕士学位，于1989年进入三一重工，一干就是36年，深得信任。2022 年，梁稳根辞去董事长职位，向文波接棒。 国内房地产市场低迷，影响工程机械行业，三一重工扬帆出海，推高收入。 向文波介绍，早在2002年，梁稳根就在布局海外市场，20多年来，团队形成"不出海，就出局"的共识。 其已经从早期简单的产品出口，转向产业出口。 海外收入占比提升，提振业绩。 向文 ...

据港交所5月22日披露，三一重工向港交所主板递交上市申请，中信证券为独家保荐人。 智通财经APP获悉，据报道，三一重工(600031.SH)拟香港上市募资15亿美元(约117亿港元)，计划最快 下周开始评估投资者兴趣。报道引述知情人士指，三一重工预计本周进行联交所上市聆讯，未来数周在 香港上市，将成为今年以来香港最大IPO之一。消息人士表示，讨论仍在进行，交易规模及时间存在变 数。 招股书显示，三一重工专注于挖掘机械、混凝土机械、起重机械、桩工机械及路面机械等全系列工程机 械产品的研发、制造、销售及服务。公司为土方工程、公共建筑、道路桥梁、机场跑道、楼宇建筑、采 矿作业、能源开发、港口物流等各种场景提供量身定制的产品及解决方案。 根据弗若斯特沙利文的资料，按2020年至2024年核心工程机械的累计收入计算，三一重工是全球第三大 及中国最大的工程机械企业。于往绩记录期间，三一重工的产品已销往全球150余个国家和地区，2024 年海外市场收入占集团总收入的62.3%。集团的产品备受全球客户信赖，凭借突出的技术实力与顶尖的 性能，广泛参与多项全球标志性项目的施工建设，如港珠澳大桥、伦敦奥运场馆、迪拜塔、北京奥运场 ...

根据弗若斯特沙利文的资料，按2020年至2024年核心工程机械的累计收入计算，三一重工是全球第三大 及中国最大的工程机械企业。于往绩记录期间，三一重工的产品已销往全球150余个国家和地区，2024 年海外市场收入占集团总收入的62.3%。集团的产品备受全球客户信赖，凭借突出的技术实力与顶尖的 性能，广泛参与多项全球标志性项目的施工建设，如港珠澳大桥、伦敦奥运场馆、迪拜塔、北京奥运场 馆等。 据港交所5月22日披露，三一重工向港交所主板递交上市申请，中信证券为独家保荐人。 招股书显示，三一重工专注于挖掘机械、混凝土机械、起重机械、桩工机械及路面机械等全系列工程机 械产品的研发、制造、销售及服务。公司为土方工程、公共建筑、道路桥梁、机场跑道、楼宇建筑、采 矿作业、能源开发、港口物流等各种场景提供量身定制的产品及解决方案。 智通财经APP获悉，据报道，三一重工(600031.SH)拟香港上市募资15亿美元(约117亿港元)，计划最快 下周开始评估投资者兴趣。报道引述知情人士指，三一重工预计本周进行联交所上市聆讯，未来数周在 香港上市，将成为今年以来香港最大IPO之一。消息人士表示，讨论仍在进行，交易规模及时间存在变 ...

招股书显示，三一重工专注于挖掘机械、混凝土机械、起重机械、桩工机械及路面机械等全系列工程机 械产品的研发、制造、销售及服务。公司为土方工程、公共建筑、道路桥梁、机场跑道、楼宇建筑、采 矿作业、能源开发、港口物流等各种场景提供量身定制的产品及解决方案。 据报道，三一重工（600031）(600031.SH)拟香港上市募资15亿美元(约117亿港元)，计划最快下周开始 评估投资者兴趣。报道引述知情人士指，三一重工预计本周进行联交所上市聆讯，未来数周在香港上 市，将成为今年以来香港最大IPO之一。消息人士表示，讨论仍在进行，交易规模及时间存在变数。 据港交所5月22日披露，三一重工向港交所主板递交上市申请，中信证券为独家保荐人。 根据弗若斯特沙利文的资料，按2020年至2024年核心工程机械的累计收入计算，三一重工是全球第三大 及中国最大的工程机械企业。于往绩记录期间，三一重工的产品已销往全球150余个国家和地区，2024 年海外市场收入占集团总收入的62.3%。集团的产品备受全球客户信赖，凭借突出的技术实力与顶尖的 性能，广泛参与多项全球标志性项目的施工建设，如港珠澳大桥、伦敦奥运场馆、迪拜塔、北京奥运场 馆等。 ...

海外市场近年来成为国内工程机械企业业绩增长的主要驱动力。2025年上半年，三一重工海外收入为 263.02亿元，占总营收比重达60.26%，海外业务毛利率为31.18%，较国内市场的毛利率高出9.08个百分 点。 据了解，三一重工最早于今年2月表示，正在筹划境外发行股份（H股）并在香港联交所上市事项，意 在深入推进公司全球化战略，加强与境外资本市场对接，进一步提升公司治理透明度和规范化水平。 5月，三一重工正式向港交所递交招股书，中信证券担任独家保荐人。 三一重工是国内工程机械龙头，由三一集团投资创建于1994年，2003年在A股上市，产品包括混凝土机 械、挖掘机械、起重机械、桩工机械等。2025年上半年，公司实现营收445.34亿元，同比增长14.96%； 净利润52.16亿元，同比增长46%。 千亿工程机械龙头港股上市申请获中国证监会备案。 10月8日，三一重工（600031）公告称，公司于近日收到了中国证监会出具的《关于三一重工股份有限 公司境外发行上市备案通知书》，公司拟发行不超过10.83亿股境外上市普通股并在香港联合交易所上 市。 公告表示，公司自备案通知书出具之日起12个月内未完成境外发行上市， ...

Core Viewpoint - Sany Heavy Industry has shown significant stock performance with a year-to-date increase of 40.98% and a market capitalization of 192.62 billion yuan as of September 29 [1] Group 1: Stock Performance - On September 29, Sany Heavy Industry's stock price rose by 2.02% to 22.73 yuan per share, with a trading volume of 599 million yuan and a turnover rate of 0.32% [1] - The stock has increased by 5.33% over the last five trading days, 7.42% over the last 20 days, and 23.87% over the last 60 days [1] Group 2: Financial Performance - For the first half of 2025, Sany Heavy Industry reported a revenue of 44.78 billion yuan, representing a year-on-year growth of 14.64%, and a net profit attributable to shareholders of 5.22 billion yuan, up 46.00% year-on-year [2] Group 3: Shareholder Information - As of June 30, 2025, the number of shareholders for Sany Heavy Industry reached 532,900, an increase of 0.64% from the previous period, with an average of 15,902 circulating shares per person, a decrease of 0.51% [2] - The company has distributed a total of 29.26 billion yuan in dividends since its A-share listing, with 6.24 billion yuan distributed in the last three years [3] - The top ten circulating shareholders include Hong Kong Central Clearing Limited, which holds 1 billion shares, an increase of 130 million shares from the previous period [3]

Company Overview - Zoomlion Heavy Industry Science and Technology Co., Ltd. is located at 361 Yinpan South Road, Changsha, Hunan Province, established on August 31, 1999, and listed on October 12, 2000. The company specializes in the research, manufacturing, sales, and service of construction machinery and agricultural machinery [1]. Financial Performance - For the first half of 2025, Zoomlion achieved operating revenue of 24.855 billion yuan, a year-on-year increase of 1.30%, and a net profit attributable to shareholders of 2.765 billion yuan, a year-on-year increase of 20.84% [2]. - Since its A-share listing, Zoomlion has distributed a total of 28.880 billion yuan in dividends, with 8.013 billion yuan distributed in the last three years [3]. Stock Performance - As of September 29, Zoomlion's stock price increased by 2.05% to 7.95 yuan per share, with a total market capitalization of 68.756 billion yuan. The stock has risen by 14.72% year-to-date, 2.98% over the last five trading days, 7.43% over the last 20 days, and 14.55% over the last 60 days [1]. - The stock's trading volume on September 29 was 296 million yuan, with a turnover rate of 0.54% [1]. Shareholder Structure - As of August 8, the number of shareholders of Zoomlion was 262,200, an increase of 1.00% from the previous period. The average circulating shares per person remained at 0 shares [2]. - As of June 30, 2025, the top ten circulating shareholders included China Securities Finance Corporation, holding 233 million shares, an increase of 4.2832 million shares from the previous period, and Hong Kong Central Clearing Limited, holding 182 million shares, a decrease of 50.5891 million shares [3]. Business Segmentation - Zoomlion's main business revenue composition includes: - Lifting machinery: 33.69% - Concrete machinery: 19.59% - Earthmoving machinery: 17.27% - Aerial work machinery: 10.43% - Other machinery and products: 10.09% - Agricultural machinery: 8.00% - Financial services: 0.93% [1]. Industry Classification - Zoomlion is classified under the Shenwan industry category of machinery equipment - construction machinery - construction machinery complete machines. The company is also associated with several concept sectors, including construction machinery, Yaxia power station concept, machinery, robotics concept, and industrial internet [1].

Company Overview - Chengdu Xinzhu Road & Bridge Machinery Co., Ltd. is located in Sichuan Province, established on March 28, 2001, and listed on September 21, 2010. The company specializes in the R&D, design, production, sales, and service of bridge components such as bridge bearings, expansion devices, and prestressed anchorage [2] - The company's main business revenue composition includes: 54.51% from photovoltaic power generation, 27.97% from bridge functional components, 12.60% from rail transit business, and 4.93% from other sources [2] - The company operates in the public utility sector, specifically in electricity and photovoltaic power generation, and is involved in various concept sectors including PPP, railway infrastructure, small-cap stocks, state-owned enterprise reform, and vanadium batteries [2] Financial Performance - As of September 19, the number of shareholders for Xinzhu Co. is 27,500, a decrease of 2.31% from the previous period, with an average of 27,886 circulating shares per person, an increase of 2.36% [2] - For the first half of 2025, Xinzhu Co. reported revenue of 704 million yuan, a year-on-year decrease of 37.53%, while the net profit attributable to shareholders was -67.71 million yuan, reflecting a year-on-year increase of 62.91% [2] Stock Performance - On September 26, Xinzhu Co.'s stock price fell by 2.02%, trading at 6.78 yuan per share, with a total market capitalization of 5.215 billion yuan [1] - Year-to-date, the stock price has increased by 31.40%, with a slight decline of 1.02% over the last five trading days and a decrease of 1.45% over the last 20 days, while showing a 12.25% increase over the last 60 days [1] - The company has appeared on the trading leaderboard three times this year, with the most recent appearance on June 12, where it recorded a net buy of 16.88 million yuan [1]

Core Viewpoint - The report from Guojin Securities highlights the positive outlook for the engineering machinery sector, driven by the resonance of domestic and international sales, leading to growth in scale, profit release, and improved operational quality [1][2]. Domestic Market Performance - In the first half of 2025, domestic sales of earthmoving machinery remained strong, with notable recovery in non-earthmoving sectors such as cranes. The revenue growth rates for major manufacturers were as follows: Sany Heavy Industry at 21.4%, Liugong at 15.7%, XCMG at 5.5%, and Zoomlion at -11.6% [1][2]. - The gross profit margins of leading manufacturers in the domestic market were 5%-10% lower compared to the peak in 2020, but there is potential for increased performance as non-earthmoving sales rise [1]. International Market Dynamics - The overseas market remains a critical area for profit release for major manufacturers, with gross profit margins significantly higher than those in the domestic market. The margin differences for Sany, XCMG, Zoomlion, and Liugong were 9.1%, 3.7%, 7.3%, and 13.9% respectively [1][2]. Global Demand Recovery - The engineering machinery sector is expected to benefit from a global demand recovery, with a projected increase in excavator replacement demand from 79,000 units in 2023 to 249,000 units by 2027. The demand for non-earthmoving machinery is also anticipated to rise as it begins to recover from a lag behind excavator sales [3]. - Major infrastructure projects, such as the Yajiang Hydropower Station and rural road reconstruction, are expected to boost demand for various types of engineering machinery [3]. Interest Rate Impact on Overseas Demand - The report suggests that the current interest rate reduction cycle will support a recovery in overseas engineering machinery demand. In North America, demand is expected to release in 2025, while in Europe, there are signs of growth in excavator exports [4]. - Emerging markets are also projected to maintain high demand due to economic growth, urbanization, and mining activities, particularly in regions like Southeast Asia and the Middle East [4].