Core Viewpoint - SANY Heavy Industry's stock price has shown fluctuations, with a recent decline of 2.03%, while the company has experienced a year-to-date increase of 4.87% in stock price [1] Financial Performance - For the period from January to September 2025, SANY Heavy Industry achieved a revenue of 65.741 billion yuan, representing a year-on-year growth of 13.56% [2] - The net profit attributable to shareholders for the same period was 7.136 billion yuan, reflecting a significant year-on-year increase of 46.58% [2] Shareholder Information - As of September 30, 2025, the number of shareholders for SANY Heavy Industry was 452,900, a decrease of 15% from the previous period [2] - The average number of circulating shares per shareholder increased by 17.65% to 18,709 shares [2] Dividend Distribution - Since its A-share listing, SANY Heavy Industry has distributed a total of 31.876 billion yuan in dividends, with 8.858 billion yuan distributed over the last three years [3] Institutional Holdings - As of September 30, 2025, the second-largest circulating shareholder was Hong Kong Central Clearing Limited, holding 1.091 billion shares, an increase of 91.071 million shares from the previous period [3] - China Securities Finance Corporation remained the fourth-largest shareholder with 233 million shares, unchanged from the previous period [3] - Various ETFs, including Huaxia SSE 50 ETF and Huatai-PineBridge CSI 300 ETF, have seen reductions in their holdings [3]

Core Viewpoint - The Chinese industrial internet sector is set to receive significant policy support, with the Ministry of Industry and Information Technology releasing a development action plan for 2026-2028, aiming to cultivate over 450 influential industrial internet platforms and connect more than 120 million industrial devices by 2028 [1][2]. Group 1: Policy and Development Goals - The action plan outlines a clear roadmap and timeline for the development of the industrial internet, with specific targets for platform cultivation and device connectivity [1]. - The government has consistently supported the industrial internet sector since it became a national strategy in 2017, with multiple recent initiatives aimed at promoting digital and intelligent transformation in manufacturing [2]. Group 2: Industry Growth and Infrastructure - The industrial internet industry in China has maintained rapid growth, with the core industry expected to exceed 1.6 trillion yuan by 2025, contributing approximately 2.5 trillion yuan to industrial value added [2]. - Currently, industrial internet applications cover 41 major industrial categories, with over 7,000 advanced and excellent smart factories established, and more than 8,000 5G factories in operation [2]. Group 3: Market Performance and Investment - The capital market reflects the industry's high growth potential, with over 300 listed companies in the industrial internet sector and a total financing scale of nearly 350 billion yuan [3]. - Despite recent market fluctuations, leading companies like Yonyou Network and Eastcom Technology have shown strong performance, indicating investor confidence in the sector [3]. Group 4: Future Outlook and Trends - Analysts suggest that the implementation of the action plan will lead the industrial internet sector into a phase of deepening development, transitioning from "connection" to "empowerment" [4]. - The focus on artificial intelligence integration and the development of industrial software and platforms is expected to drive growth, particularly for companies with core technological advantages and diverse application scenarios [4].

Group 1: Machinery Industry - In December 2025, the total sales of excavators in China increased by 19.2% year-on-year, with domestic sales and exports growing by 10.9% and 26.9% respectively. For the entire year of 2025, total excavator sales rose by 17.0%, with domestic and export sales increasing by 17.9% and 16.1% respectively [2] - In December 2025, total sales of loaders in China grew by 30.0% year-on-year, with domestic sales and exports increasing by 17.6% and 41.5% respectively. For the full year of 2025, total loader sales increased by 18.4%, with domestic and export sales rising by 22.1% and 14.6% respectively [2] - The growth in excavator and loader sales is attributed to the peak construction season and overseas channel restocking. The demand for machinery is expected to continue growing in 2026 due to ongoing replacement needs, contributions from projects, and trends towards electrification [2] Group 2: Robotics Industry - According to Omdia, Zhiyuan Robotics topped the global humanoid robot shipment rankings with over 5,100 units shipped, capturing 39% of the global market share. The top six companies in humanoid robot shipments in 2025 are all Chinese, accounting for 86.9% of global shipments [3] - Recent financing activities in the robotics sector include Qiangna Technology raising approximately 2 billion RMB, and Mobileye announcing a $900 million acquisition of the humanoid startup Mentee Robotic. Other companies like Lingxin Qiaoshou and Xingjiguan also completed new financing rounds [3] - New product launches include Boston Dynamics' new generation Atlas humanoid robot, which has entered production, and Xiaopeng Motors announcing the mass production of its humanoid robot in 2026 [5] Group 3: Investment Recommendations - The manufacturing PMI in China rose by 0.9 percentage points to 50.1% in December 2025, indicating a return to expansion. This improvement is driven by the effects of policy implementation and pre-holiday inventory preparations [6] - The report maintains a "buy" rating for the machinery industry, highlighting the potential for sustained growth in performance for major machinery manufacturers due to resonating domestic and international demand [6] - The report suggests focusing on the engineering machinery sector (e.g., XCMG, SANY Heavy Industry) and the rapidly growing humanoid robotics sector (e.g., Estun, Greentech) as areas of significant investment opportunity [6]

1月13日，工业和信息化部印发《推动工业互联网平台高质量发展行动方案（2026—2028年）》，方案 对2028年的目标提出具体规划，包括培育超450家具有一定影响力的平台，工业设备连接数突破1.2亿台 （套），平台普及率达到55%以上。 | 46.85 | 简称 | 1月13日 | 溪司市空室 | 总市值 | | --- | --- | --- | --- | --- | | | | 涨跌幅(%) | (倍) | (亿元) | | 600690 | 海尔智家 | -1.15 | 11.59 | 2298.44 | | 000333 | 美的集团 | -3.08 | 12.94 | 5786.41 | | 600050 | 中国联通 | -2.19 | 17.74 | 1678.90 | | 000425 | 徐工机械 | -3.00 | 20.04 | 1331.61 | | 002380 | 科远智慧 | -1.06 | 23.88 | 74.09 | | 300532 | 今天国际 | -1.35 | 25.01 | 56.39 | | 600031 | 三一重工 | 0.27 | 25.23 | 20 ...

1月13日三一重工大宗交易一览 | 成交量（万 | 成交金额（万 | 成交价格 | 相对当日收盘折溢价 | 买方营 | 卖方营业部 | | --- | --- | --- | --- | --- | --- | | 股） | 元） | （元） | （%） | 业部 | | | 400.00 | 8956.00 | 22.39 | -1.02 | 机构专 | 国信证券股份有限公司湖 | | | | | | 用 | 南分公司 | （文章来源：证券时报网） 证券时报·数据宝统计显示，三一重工今日收盘价为22.62元，上涨0.27%，日换手率为1.10%，成交额为 21.10亿元，全天主力资金净流出8960.40万元，近5日该股累计上涨3.38%，近5日资金合计净流入 8338.51万元。 两融数据显示，该股最新融资余额为15.99亿元，近5日减少2.06亿元，降幅为11.43%。（数据宝） 三一重工1月13日大宗交易平台出现一笔成交，成交量400.00万股，成交金额8956.00万元，大宗交易成 交价为22.39元，相对今日收盘价折价1.02%。该笔交易的买方营业部为机构专用，卖方营业部为国信证 券股份有限公司湖南 ...

进一步统计，近3个月内该股累计发生7笔大宗交易，合计成交金额为3.09亿元。该股近5个交易日累计 上涨3.38%，主力资金合计净流入2.51亿元。 1月13日，三一重工收涨0.27%，收盘价为22.62元，发生1笔大宗交易，合计成交量400万股，成交金额 8956万元。 第1笔成交价格为22.39元，成交400.00万股，成交金额8,956.00万元，溢价率为-1.02%，买方营业部为机 构专用，卖方营业部为国信证券股份有限公司湖南分公司。 责任编辑：小浪快报 ...

证券之星消息，1月13日工程机械板块较上一交易日下跌0.37%，邵阳液压领跌。当日上证指数报收于 4138.76，下跌0.64%。深证成指报收于14169.4，下跌1.37%。工程机械板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 301279 | 金直科技 | 35.52 | 5.18% | 7.43万 | | 2.68亿 | | 301446 | 福事特 | 37.70 | 5.16% | 3.71万 | | = 1.38亿 | | 920942 | 恒立钻具 | 34.72 | 3.64% | 4.78万 | | 1.67亿 | | 601100 | 恒立液压 | 120.29 | 2.29% | 15.95万 | | 19.32亿 | | 603298 | 杭叉集团 | 28.03 | 1.52% | 11.83万 | | 3.32亿 | | 920174 | 五新随装 | 50.15 | 0.93% | 3.45万 | | 1.73亿 | | 60 ...

Group 1 - Sany Heavy Industry's stock price increased by 0.09% to 22.58 CNY per share, with a trading volume of 2.11 billion CNY and a turnover rate of 1.10%, resulting in a total market capitalization of 207.62 billion CNY [1] - The stock has risen for three consecutive days, with a cumulative increase of 5.37% during this period [1] - Sany Heavy Industry specializes in the research, manufacturing, sales, and service of construction machinery, with main business revenue composition: excavating machinery 39.29%, lifting machinery 17.52%, concrete machinery 16.71%, and others [1] Group 2 - Xinhua Fund has a significant holding in Sany Heavy Industry, with the Xinhua Anxiang Duoyu Flexible Allocation Mixed Fund (004982) increasing its stake by 63,000 shares, totaling 369,700 shares, which represents 6.79% of the fund's net value [2] - The fund has generated a floating profit of approximately 7,394 CNY today, and a total floating profit of 425,200 CNY during the three-day stock price increase [2] - The Xinhua Anxiang Duoyu Flexible Allocation Mixed Fund was established on September 13, 2018, with a current size of 126 million CNY and a year-to-date return of 4.93%, ranking 2672 out of 9028 in its category [2] Group 3 - The fund manager of Xinhua Anxiang Duoyu includes Zhao Qiang, who has a tenure of 11 years and 318 days, with a total fund size of 1.89 billion CNY and a best return of 217.87% during his tenure [3] - Another manager, Yao Haiming, has a tenure of 5 years and 49 days, managing 9.57 billion CNY, with a best return of 60.29% [3] - The third manager, Hou Chun, has a tenure of 342 days, managing 126 million CNY, with a best return of 31.7% [3]

Group 1 - Sany Heavy Industry's stock price increased by 0.09% to 22.58 CNY per share, with a trading volume of 2.11 billion CNY and a turnover rate of 1.10%, resulting in a total market capitalization of 207.62 billion CNY [1] - The stock has risen for three consecutive days, with a cumulative increase of 5.37% during this period [1] - Sany Heavy Industry specializes in the research, manufacturing, sales, and service of construction machinery, with main business revenue composition as follows: excavating machinery 39.29%, lifting machinery 17.52%, concrete machinery 16.71%, others 16.64%, road machinery 4.85%, piling machinery 3.01%, and other supplementary 1.98% [1] Group 2 - The Dazhong CSI Engineering Machinery ETF (159542) has Sany Heavy Industry as its largest holding, with an increase of 9,600 shares in the third quarter, totaling 104,000 shares, which accounts for 15.99% of the fund's net value [2] - The fund has generated a floating profit of approximately 2,081 CNY today, with a total floating profit of 119,700 CNY during the three-day increase [2] - The Dazhong CSI Engineering Machinery ETF was established on May 28, 2024, with a latest scale of 15.1262 million CNY, and has achieved a year-to-date return of 5.13% and a one-year return of 46.19% [2]

Core Viewpoint - The mechanical equipment industry is experiencing significant growth in both domestic and export sales of excavators and loaders, driven by infrastructure projects and increasing demand for electric machinery [2][3][4]. Excavator Sales Summary - In December 2025, a total of 23,095 excavators were sold, marking a year-on-year increase of 19.2%, with domestic sales at 10,331 units (up 10.9%) and exports at 12,764 units (up 26.9%) [2][3]. - For the entire year of 2025, 235,257 excavators were sold, reflecting a 17% increase, with domestic sales of 118,518 units (up 17.9%) and exports of 116,739 units (up 16.1%) [2][3]. Loader Sales Summary - In December 2025, 12,236 loaders were sold, representing a 30% year-on-year increase, with domestic sales of 5,291 units (up 17.6%) and exports of 6,945 units (up 41.5%) [2][4]. - For the full year of 2025, loader sales reached 128,067 units, a growth of 18.4%, with domestic sales at 66,330 units (up 22.1%) and exports at 61,737 units (up 14.6%) [2][4]. Market Trends and Drivers - The domestic excavator market is showing strong recovery, supported by government initiatives for urban renewal and infrastructure projects, which are expected to sustain demand [3]. - The export market for excavators is also performing well, with a 16.1% increase in 2025, and a notable 26.9% growth in December alone, driven by rising infrastructure needs in emerging markets [3]. - Loader sales are benefiting from major domestic projects, such as the Yashan Hydropower Station and the New Tibet Railway, which have increased demand for loaders [4]. Electric Machinery Growth - The sales of electric excavators and loaders are beginning to gain traction, with 39 electric excavators and 2,722 electric loaders sold in December 2025, indicating a growing trend towards electrification in the industry [2][4]. Company Developments - SANY Heavy Industry has launched its first global remanufacturing base in Hainan, which is expected to enhance its global strategy and sustainability efforts, receiving significant orders from Southeast Asia and Africa [4]. Investment Recommendations - The industry is advised to focus on companies with strong overseas presence, brand recognition, and efficient cost structures, such as SANY Heavy Industry, Zoomlion, LiuGong, Shantui, and Hengli Hydraulic [5].