Oshkosh (OSK) 2025 Conference September 04, 2025 08:10 AM ET Company ParticipantsStephen Volkmann - Managing DirectorMatthew Field - EVP, CFO & DirectorConference Call ParticipantsNone - AnalystStephen VolkmannAll right. Good morning, everybody, and welcome to day two of the Jefferies Industrials Conference for the machinery sector. We're going to kick off this morning with Oshkosh. Very pleased to welcome, Matt Field, the CFO and Pat Davidson, who looks after Investor Relations, to the podium here. So we'l ...

Core Viewpoint - The article highlights the significant role of Zoomlion Heavy Industry Science & Technology Co., Ltd. in providing technical support for the live broadcast of the 80th anniversary of the victory in the Chinese People's Anti-Japanese War and the World Anti-Fascist War, showcasing the company's engineering capabilities and commitment to quality [1][3]. Group 1: Project Execution - Zoomlion formed a specialized team of 40 professionals to handle the live broadcast support task, deploying 6 truck cranes and 7 aerial work platforms [3]. - The team conducted rigorous screening, debugging, and simulation testing of all equipment to meet the specific filming requirements of the Central Radio and Television Station [3]. - The 7 aerial work vehicles included 2 units of 72 meters, 2 units of 32 meters, and 3 units of 22 meters, covering filming needs from 15 to 50 meters in height [3]. Group 2: Technical Challenges - The project faced multiple challenges, with key metrics reaching new highs: the cableway span increased from a previous maximum of 500 meters to 700 meters, and the installation height rose from 40-50 meters to 60 meters [3][4]. - The lightning protection standard improved from level three to level two, and wind resistance requirements were enhanced by 50%, increasing the overall safety factor [3][4]. Group 3: Commitment to Quality - The team aimed for a "zero defect" target, conducting daily checks and tests on the equipment to ensure reliability [4]. - Over 30 team members were stationed in Beijing from the start of the task to ensure everything was in place for the event [4]. - Zoomlion has previously collaborated with the Central Radio and Television Station on several major events, demonstrating the company's strong engineering quality and reliability in live broadcast support [4].

Core Insights - LuXiao Technology reported a significant improvement in cash flow and financial performance in the first half of 2025, with total revenue of 1.752 billion and net profit of 150 million [1] - The company is expanding its international presence by planning to issue H-shares to enter the Hong Kong capital market, aiming to enhance its global strategy and brand image [2] Financial Performance - Total revenue for the first half of 2025 reached 1.752 billion, with a net profit attributable to shareholders of 150 million [1] - The net cash flow from operating activities was 139 million, an increase of 623 million compared to the same period last year [1] - The net increase in cash and cash equivalents was 226 million, marking a significant turnaround [1] Business Segments - The photovoltaic power generation segment generated revenue of 371 million, accounting for 21.17% of total revenue [1] - The aerial work equipment segment achieved revenue of 379 million, representing 21.60% of total revenue [1] - The gross margin for the aerial work equipment segment improved from 25.40% to 28.79% due to product structure optimization [1] Research and Development - The company invested 46.91 million in R&D, maintaining a stable proportion of revenue [1] - Continuous investment in management and innovation supports the launch of new technologies and products [1] International Expansion - LuXiao Technology's overseas sales reached 115 million, with a year-on-year growth rate of 72.98%, and the revenue share increased by 3.06 percentage points [1] - The planned issuance of H-shares aims to enhance the company's international competitiveness and broaden financing channels [2]

Group 1 - Company participated as a platinum sponsor at the HIRE25 rental exhibition in Australia, showcasing electric and intelligent aerial work equipment [1] - The company has established a strong presence in the Australian market, gaining recognition from local customers due to product quality and service support [1] - Domestic aerial work equipment has been increasingly recognized globally for its cost-effectiveness, good after-sales service, and advancements in electrification and intelligence [1] Group 2 - The company is recognized as a national-level "little giant" enterprise, holding various honors such as National Enterprise Technology Center and National Intelligent Manufacturing Demonstration Factory [2] - The company offers a full lifecycle solution for various aerial work equipment, with a product range that includes straight arm, articulated, and scissor lift platforms, covering heights from 4 meters to 58 meters [2] - The company has established over 10 subsidiaries overseas and has manufacturing bases in Poland and Mexico, facilitating a global expansion strategy [2] Group 3 - The company has successfully set up three sales and service centers in Victoria, New South Wales, and Queensland, enhancing its ability to provide quick and reliable product delivery and comprehensive support services across Australia [2] - The showcased products feature all-time floating capabilities, strong climbing ability, and high ground clearance, with some equipped with radar collision avoidance systems for improved safety and efficiency [2] - Other domestic companies, such as SANY Heavy Industry and XCMG, are also focusing on the overseas market for aerial work equipment [2][3] Group 4 - The global demand for aerial work equipment is increasing, with specific seasonal needs in Australia's agriculture and fisheries sectors, and stable demand in logistics [3] - Domestic manufacturers have been collaborating with foreign rental companies and distributors to develop markets, responding to diverse customer needs [3] - As the performance of domestic equipment gains recognition, leading companies are investing in overseas factories and subsidiaries to meet personalized demands from international clients [3]

Core Insights - LuXiao Technology reported a significant increase in revenue and profit for the fiscal year 2024, with total revenue reaching 3.717 billion yuan, a year-on-year growth of 34.07%, and a net profit of 258 million yuan, up 97.03% [1][2] - The company is experiencing a notable recovery in the machinery industry, driven by accelerated domestic infrastructure investment and increased operational rates in downstream sectors [1] Financial Performance - The company's net profit attributable to shareholders reached 258 million yuan, reflecting a 97.03% increase year-on-year [1] - The non-recurring net profit was reported at 226 million yuan, marking a growth of 108% [1] - In Q1 2025, LuXiao Technology achieved revenue of 859 million yuan, a year-on-year increase of 10.44%, and a net profit of approximately 98 million yuan, up 21.95% [2] Business Segments - The high-altitude operation equipment segment generated revenue of 1.057 billion yuan, showing a remarkable growth of 241.65%, and its contribution to total revenue increased from 11.16% to 28.44% [1] - The gross margin for the high-altitude operation equipment segment improved by 2.73% [1] Technological Advancements - The company is focusing on technological innovation, with several new product designs and developments in progress, including various steering modes for aerial work platforms and intelligent control systems [2] - The integration of AI and IoT technologies is enhancing the safety and efficiency of the equipment, with features like fault warning and remote control being implemented [1][2] Market Outlook - The aerial work platform industry is expected to continue its growth, with a projected increase in mechanized construction rates in new buildings from 58% in 2024 to 70% by 2027, leading to a demand for over 1.2 million units of high-altitude operation equipment [2] - The anticipated replacement of old equipment and the introduction of new high-value-added products are expected to further boost the company's overall gross margin [2]