中联重科(000157) - 中联重科投资者关系管理信息

Group 1: Company Overview - Zhonglian Heavy Industry was founded in 1992 and primarily engages in the research and manufacturing of high-tech equipment, including construction machinery [2] - The company went public in 2000 on the Shenzhen Stock Exchange and later listed H shares in 2010, becoming an A+H share company [3] Group 2: Revenue Structure - Prior to 2020, the majority of revenue came from domestic markets, primarily from cranes and concrete machinery, which were highly cyclical [3] - Since 2020, the overseas revenue share has rapidly increased, with a domestic to overseas revenue ratio of 6:4 in the first half of 2023, and approaching 5:5 in the first three quarters of 2024 [3] - Traditional construction machinery now accounts for approximately 50% of total revenue, down from 80%, with the remaining 50% coming from emerging sectors such as earthmoving, high-altitude, mining, and agricultural machinery [3] Group 3: Global Expansion - The company has established a global manufacturing and sales network, covering over 140 countries and regions [4] - It has set up subsidiaries and offices along the "Belt and Road" initiative, enhancing its local operations in countries like Italy, Germany, Mexico, Brazil, Turkey, and India [4] - Overseas revenue has exceeded 50%, with a continuous four-year growth trend [5] Group 4: Financial Performance - In the first three quarters of 2024, overseas revenue reached 17.6 billion RMB, accounting for 51% of total revenue, with a year-on-year growth of 35% [6] - The company has invested nearly 12 billion RMB in R&D over the past three years, with an R&D intensity of about 8% [6] - The cumulative cash dividends since 2000 amount to approximately 26.3 billion RMB, with a historical overall dividend rate of about 45% and a recent three-year dividend rate of 68% [7] Group 5: Future Outlook - The domestic construction machinery market is expected to stabilize and gradually recover by 2025, supported by equipment renewal demands and government policies [8] - The company aims to enhance its overseas market share through a diversified product structure and a robust direct sales system [8]