债券代码：127084 债券简称：柳工转2 证券代码：000528 证券简称：柳 工 公告编号：2025-12 广西柳工机械股份有限公司 关于举行 2024 年年度网上业绩说明会的公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 广西柳工机械股份有限公司（以下简称"公司"）将于 2025 年 3 月 29 日披露《柳工 2024 年年度报告》及其摘要。为方便广大投资者更加全面深入地了解公司的战略规划 及实际经营情况，公司定于 2025 年 3 月 31 日（星期一）通过网络方式举办 2024 年年 度业绩说明会，与投资者进行沟通交流，具体情况如下： 一、业绩说明会召开时间和方式 召开时间：2025 年 3 月 31 日（星期一）15:00-16:30 召开方式：网络及电话会议 二、公司出席人员 （一）董事长兼 CEO 曾光安先生，独立董事李嘉明先生； （二）高级副总裁文武先生、高级副总裁罗国兵先生、董事会秘书黄华琳先生、总 工程师林明智先生、会计机构负责人樊丽君女士、电动技术与产品研究院院长赵明先生 及相关部门负责人。 三、投资者参与方式 （一）报名方式 ...

Investment Rating - The report gives a "Buy" rating for the company, indicating a positive outlook for its future performance [4][15][6]. Core Viewpoints - The company is a well-established state-owned enterprise in the engineering machinery sector, with a solid industry position and a diverse product line [25][26]. - The company is expected to benefit significantly from the recovery of industry demand driven by equipment upgrades and macroeconomic policies [1][45]. - The rapid electrification of loaders presents substantial growth opportunities for the company's revenue [2][3]. - The company has a strong potential for export growth, particularly in emerging markets, which will support its overall performance [3][13]. - The mixed-ownership reform has injected new growth momentum into the company, opening up new business lines [4][5]. Summary by Sections Company Overview - The company was founded in 1958 and has evolved into a major manufacturer of various types of machinery, achieving a revenue of 27.52 billion yuan in 2023, ranking 19th globally and 4th domestically in the engineering machinery sector [25][26]. - The company has a strong market share in loaders, with 19,000 units sold in 2023, maintaining its leading position in the domestic market [26][30]. Growth Logic - **Equipment Upgrades**: The engineering machinery industry is currently at a cyclical low, but demand is expected to recover as macro policies take effect, with significant support from equipment upgrades [1][45]. - **Loader Electrification**: The electrification of loaders is accelerating, with a projected sales growth of 212.1% in 2024, indicating a substantial market expansion opportunity [2][3]. - **Export Potential**: The export value of China's engineering machinery has grown significantly, with the company achieving overseas revenue of 11.46 billion yuan in 2023, representing a 41.7% share of total revenue [3][41]. - **Mixed-Ownership Reform**: The reform has improved operational efficiency and broadened the product range, with new business lines expected to contribute positively to overall performance [4][5]. Financial Forecast and Valuation - The company is projected to achieve net profits of 1.38 billion, 2.12 billion, and 2.74 billion yuan for the years 2024 to 2026, respectively, with corresponding P/E ratios of 19, 12, and 9 [4][15]. - The revenue growth rate is expected to be 9.83% in 2024, 17.57% in 2025, and 15.14% in 2026, indicating a robust growth trajectory [5][15].

Investment Rating - The report gives a "Buy" rating for the company, indicating a positive outlook for its future performance [4][15][6]. Core Viewpoints - The company is a well-established state-owned enterprise in the engineering machinery sector, with a solid industry position and a diverse product line [25][26]. - The company is expected to benefit significantly from the recovery of industry demand driven by equipment upgrades and macroeconomic policies [1][45]. - The rapid electrification of loaders presents substantial growth opportunities for the company's revenue [2][3]. - The company's international expansion and export potential remain strong, with significant growth in overseas revenue [3][41]. - The mixed-ownership reform has injected new growth momentum into the company, broadening its product offerings [4][5]. Summary by Sections Company Overview - The company was founded in 1958 and has evolved into a major manufacturer of various types of machinery, achieving a revenue of 27.52 billion yuan in 2023, ranking 19th globally and 4th domestically in the engineering machinery sector [25][26]. - The company has a strong market share in the domestic loader market, with 19,000 units sold in 2023 [26]. Growth Logic - **Equipment Upgrades**: The engineering machinery industry is at a cyclical low, but demand is expected to recover as infrastructure and real estate sectors improve. The company is projected to benefit from this recovery [1][45]. - **Loader Electrification**: The electrification of loaders is accelerating, with a projected sales growth of 212.1% in 2024. The market size for electric loaders could reach 501.1 billion yuan by 2026 [2][3]. - **Export Potential**: From 2014 to 2024, China's engineering machinery export value increased from 19.79 billion USD to 52.86 billion USD, with the company achieving 11.46 billion yuan in overseas revenue in 2023, a 41.2% increase [3][41]. - **Mixed-Ownership Reform**: The reform has improved operational efficiency and expanded product categories, with new business lines expected to contribute significantly to overall performance [4][5]. Financial Forecast and Valuation - The company is projected to achieve net profits of 1.38 billion yuan, 2.12 billion yuan, and 2.74 billion yuan for the years 2024 to 2026, respectively, with corresponding P/E ratios of 19, 12, and 9 [4][15]. - The revenue growth rate is expected to be 9.83% in 2024, 17.57% in 2025, and 15.14% in 2026, indicating a positive trend in financial performance [5][15].

证券代码：000528 证券简称：柳 工 公告编号：2025-11 债券代码：127084 债券简称：柳工转2 广西柳工机械股份有限公司 关于可转换公司债券 2025 年付息的公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 重要提示： 1. 柳工转 2（转债代码：127084）将于 2025 年 3 月 27 日按面值支付第二年利 息，每 10 张"柳工转 2"（面值 1,000.00 元）利息为 4 元（含税）； 2. 债权登记日：2025 年 3 月 26 日（星期三）； 3. 除息日：2025 年 3 月 27 日（星期四）； 4. 付息日：2025 年 3 月 27 日（星期四）； 5. "柳工转 2"票面利率：第一年 0.20%，第二年 0.40%，第三年 1.00%，第四年 1.50%，第五年 2.30%，第六年 3.00%； 6. "柳工转 2"本次付息的债权登记日为 2025 年 3 月 26 日，凡在 2025 年 3 月 26 日（含）前买入并持有本期债券的投资者享有本次派发的利息。2025 年 3 月 26 日卖出 本期债券的投资者 ...

证券代码：000528 证券简称：柳 工 公告编号：2025-10 债券代码：127084 债券简称：柳工转2 广西柳工机械股份有限公司 关于续签募集资金监管协议的公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚假记 载、误导性陈述或重大遗漏。 一、募集资金基本情况 经中国证券监督管理委员会（以下简称"中国证监会"）《关于核准广西柳工机械股 份有限公司公开发行可转换公司债券的批复》（证监许可[2023]128 号）的核准，广西 柳工机械股份有限公司（以下简称"公司"）向不特定对象发行可转换公司债券（以下简 称"本次可转债"）3,000.00 万张，每张面值人民币 100.00 元，总额为人民币 30 亿 元，扣除各项发行费用（不含税）后的实际募集资金净额为人民币 2,993,696,226.63 元。本次可转债募集资金扣除保荐承销费后的余额已由主承销商华泰联合证券有限责 任公司（以下简称"华泰联合"）于 2023 年 3 月 31 日汇入公司开立的募集资金专用账 户。致同会计师事务所（特殊普通合伙）已于 2023 年 3 月 31 日对本次发行募集资金 到账情况进行了审验，并出具了《广西 ...

现场检查报告 华泰联合证券有限责任公司 关于广西柳工机械股份有限公司 2024 年现场检查报告 根据中国证监会《证券发行上市保荐业务管理办法》和《深圳证券交易所上 市公司自律监管指引第 13 号——保荐业务》等有关法律法规的要求，华泰联合 证券有限责任公司作为广西柳工机械股份有限公司（以下简称"柳工"或"公司"） 向不特定对象发行可转换公司债券的保荐人，于 2025 年 2 月 26-27 日对广西柳 工机械股份有限公司 2024 年有关情况进行了现场检查，报告如下： | 保荐人名称：华泰联合证券有限责任公司 被保荐公司简称：柳工 | | | | | --- | --- | --- | --- | | 保荐代表人姓名：杨铭 联系电话：0755-81902000 | | | | | 保荐代表人姓名：杨柏龄 联系电话：0755-81902000 | | | | | 现场检查人员姓名：杨柏龄 | | | | | 现场检查对应期间：2024 年度 | | | | | 现场检查时间：2025 年 2 月 26-27 日 | | | | | 一、现场检查事项 现场检查意见 | | | | | （一）公司治理 是 | 否 ...

培训情况报告 根据《深圳证券交易所上市公司自律监管指引第 13 号——保荐业务》的要 求，参加本次培训的人员为董事、监事、高级管理人员、中层以上管理人员及上 市公司控股股东代表等相关人员等。 2025 年 2 月 26 日，华泰联合证券相关人员按照《深圳证券交易所上市公司 自律监管指引第 13 号——保荐业务》的要求完成了对柳工的董事、监事、高级 管理人员、中层以上管理人员及公司控股股东代表等相关人员的持续培训工作， 特向贵所报送培训工作报告。 一、培训的主要内容 2025 年 2 月 26 日，保荐代表人和培训工作小组根据通过采取线下与线上结 合授课以及发放课件的方式对董事、监事、高级管理人员、中层以上管理人员及 公司控股股东代表等相关人员培训。本次培训重点介绍了资本市场近况、并购重 组最新政策和上市公司规范运作的相关内容，并结合相关案例进行讲解。本次培 训促使上述对象增强对资本市场、相关政策和法律法规的理解、重视上市公司运 作的规范性，强化法制观念和诚信意识，切实理解作为上市公司关键少数、核心 人员在公司规范运作等方面所应承担的责任和义务。 1 华泰联合证券有限责任公司 关于广西柳工机械股份有限公司 持续 ...

Summary of Key Points from the Conference Call Industry Overview - The engineering machinery industry experienced significant market changes in 2024, with unexpected positive growth in excavator sales starting in March, leading to improved performance in Q1 reports and a notable stock price increase in May [2][4] - The domestic demand in China is expected to exceed expectations in early 2025, reversing the downward trend in main engine manufacturers' revenues from 2021 to 2024, with scale effects likely to enhance gross and net profit margins [2][4] - Key factors influencing the engineering machinery industry's development include the sustainability of domestic market recovery, the impact of the real estate cycle, and the expansion of Chinese enterprises in Africa and Latin America [2][5] Company-Specific Insights: Liugong - Liugong has achieved significant results through reforms aimed at cost reduction and efficiency improvement, with a stable management team and strong reform momentum indicating an optimistic future outlook [2][6] - The company has maintained its leading position in the electric charging pile market, with a market share of 25% and a significant year-on-year increase in sales [2][12] - Liugong's revenue and profit are expected to grow in the context of a recovering domestic market, with a focus on continuous reform and improvement in profitability [2][9] Market Trends and Financial Performance - The engineering machinery sector has seen a loosening of capital flow recently, but upcoming events such as the Two Sessions and sales data releases may lead to a rebound in stock performance [2][7] - The company has shown improved profitability, but the sustainability of this improvement remains to be observed [2][7] - Liugong's revenue and profitability have been positively impacted by the ongoing national enterprise reform, which has injected operational vitality and improved efficiency [2][18] Future Outlook and Investment Opportunities - The engineering machinery industry is projected to achieve positive growth in 2025, with small-tonnage equipment remaining resilient and significant growth in water conservancy infrastructure investment [2][19] - Key investment opportunities include companies like Liugong, XCMG, SANY, and Zoomlion, each with unique investment value and strategic focuses [2][15] - The overseas market demand is expected to vary, with Southeast Asia, South America, and the Middle East showing positive trends, while North America and Europe may experience weaker demand [2][20] Risks and Challenges - The industry faces risks related to the sustainability of domestic demand recovery and the influence of the real estate cycle on machinery demand [2][5] - Fluctuations in exchange rates and raw material prices, particularly steel, could impact profit margins [2][14] - The need for supply chain optimization and monitoring of overseas market conditions, especially in Eastern Europe, is crucial for future growth [2][14] Conclusion - Liugong's strong technological foundation and proactive approach to reforms position it well for future growth, with expectations of continued revenue and profit increases [2][10][18] - The engineering machinery industry is at a pivotal point, with potential for recovery and growth driven by domestic demand and international market expansion [2][19][20]

证券代码：000528 证券简称：柳 工 公告编号：2025-09 债券代码：127084 债券简称：柳工转2 广西柳工机械股份有限公司 广西柳工机械股份有限公司（以下简称"公司"）于 2024 年 11 月 28 日召开第九届 董事会第二十六次（临时）会议，审议通过了《关于公司回购股份方案（第二期）的 议案》，同意公司使用自有资金及股票回购专项贷款资金通过集中竞价的方式回购部 分公司已发行的人民币普通股（A 股）股票，用于新一期的股权激励或员工持股计划。 本次回购金额区间为不低于人民币 30,000 万元（含）且不超过人民币 60,000 万元 （含），回购价格为不超过人民币 18.20 元/股（含），该价格不高于董事会通过回购 决议前三十个交易日公司股票交易均价的 150%。具体回购股份的数量以回购期满时 实际回购的股份数量为准。上述具体内容详见公司于 2024 年 12 月 3 日在巨潮资讯网 （www.cninfo.com.cn）披露的《公司第九届董事会第二十六次（临时）会议决议公告》 （公告编号：2024-81）、《公司关于回购股份方案（第二期）暨取得金融机构股份回 购专项贷款承诺函的公告》（公告编 ...

证券代码：000528 证券简称：柳 工 公告编号：2025-08 债券代码：127084 债券简称：柳工转2 广西柳工机械股份有限公司 关于非公开发行股份部分解除限售上市流通的提示性公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚假记 载、误导性陈述或重大遗漏。 特别提示： 2022 年 3 月 31 日、2023 年 2 月 22 日，公司分别完成部分 2018 年限制性股票 回购注销，总股本由 1,955,019,991 股减少为 1,951,261,261 股。 2023 年 7 月 28 日，公司基于吸收合并交易业绩承诺实现情况及补偿方案完成广 西柳工集团有限公司（以下简称"柳工集团"）业绩补偿股份的回购注销，总股本由 1,951,261,261 股减少为 1,951,205,775 股。 1、本次解除限售上市流通的股份数量为 537,484,776 股，占广西柳工机械股份有 限公司（以下简称"柳工"或"公司"）截止 2 月 21 日股本总额的 26.6183%。 2、本次限售股上市流通日期为 2025 年 3 月 4 日。 一、公司非公开发行股份的基本情况 经中国证券监督管理 ...