柳 工(000528) - 2026年1月27柳工投资者关系活动记录表

Domestic Business Overview - In 2025, the domestic business showed robust performance across key markets and product lines, driven by unexpected recovery in earthmoving demand, with earthmoving machinery leading the growth [3] - The company anticipates stable growth in the engineering machinery market in 2026, supported by national planning and major project advancements [3] - The strategy focuses on high-quality development, emphasizing product segmentation and integrated solutions to enhance customer loyalty and lifecycle value [3] International Business Expansion - The company plans to increase overseas investments, establishing six new subsidiaries in Nigeria, Italy, and Peru, with overseas business revenue expected to grow over 10% in 2025 [4] - International business now accounts for approximately 47% of total revenue, with core earthmoving machinery sales outpacing the industry by 8 percentage points [4] - The 2026 strategy includes a "three comprehensive" approach to enhance global operations and localize manufacturing capabilities [4] Product Development and Innovation - The mining machinery segment includes a full range of equipment for open-pit mining, with plans to expand into underground equipment [7] - Despite a significant market downturn in 2025, the mining business outperformed the industry by over 15 percentage points due to strategic partnerships [7] - The company aims to become a leading provider of new energy mining machinery by focusing on innovative solutions and a comprehensive product matrix [7] Electric Loader and Agricultural Machinery - The electric loader segment saw over 100% sales growth in 2025, with products now available in over 50 countries [9] - The company is developing a new generation of tractors, with a focus on high-horsepower models and innovative technology to meet market demands [11] Financial Management and Risk Mitigation - The company has incorporated rising raw material prices and currency exchange impacts into its 2026 budget assumptions [12] - Strategies for managing foreign exchange risks include optimizing procurement and utilizing financial instruments for hedging [12]