机🍢(ji)构🚈(gou)：东🍏(dong)吴🥡(wu)证❣(zheng)券🗄(quan)研🔽(yan)究♌(jiu)员🎆(yuan)：周🎌(zhou)尔🍚(er)双🕞(shuang)[投💢(tou)资👰(zi)要🆘(yao)点🎷(dian)国🗻(guo)内🕣(nei)装🚬(zhuang)载📶(zai)机🕡(ji)龙🕺(long)头👒(tou)，国🍩(guo)际🌒(ji)化💇(hua)&拓🦏(tuo)品👰(pin)类🤭(lei)开💻(kai)启⚪(qi)新🚬(xin)征🤠(zheng)程🚺(cheng)公👛(gong)司💟(si)成👑(cheng)立🏸(li)于🔳(yu)1958 年🔍(nian)，以🆑(yi)装✈(zhuang)载⛵(zai)机💰(ji)起👱(qi)家🐙(jia)并🎓(bing)稳🐥(wen)居🧢(ju)行🗂(xing)业🍷(ye)龙🤩(long)头🦁(tou)地🌜(di)位🐻(wei)
2000 年🐓(nian)后👏(hou)公🗂(gong)司🔘(si)开🍳(kai)始🌷(shi)扩🕑(kuo)展🤶(zhan)产🔨(chan)品⏪(pin)品🥙(pin)类👊(lei)，横🔆(heng)向🚁(xiang)布🧣(bu)局👘(ju)挖🏾(wa)掘🙉(jue)机🗾(ji)、起🎡(qi)重🤾(zhong)机🍣(ji)、路🌪(lu)面🌒(mian)机⛰(ji)械😙(xie)等🎪(deng)产⭐(chan)品🌑(pin)和📠(he)相🎿(xiang)关🔶(guan)零🍉(ling)部👺(bu)件🐷(jian)。2022-2023 年🤫(nian)行🖌(xing)业🍰(ye)下🔪(xia)行💜(xing)期🧕(qi)间🚽(jian)公🤵(gong)司🚱(si)进❄(jin)行🚈(xing)多🚸(duo)品🎺(pin)类👕(lei)&国🤩(guo)际🛠(ji)化📕(hua)拓🏀(tuo)展🚯(zhan)，积⛑(ji)极👔(ji)布🛒(bu)局🍍(ju)如🏑(ru)高😛(gao)空👏(kong)作👖(zuo)业🐲(ye)机🤑(ji)械🧑(xie)、起📇(qi)重➰(zhong)机💍(ji)械🛬(xie)等🔉(deng)新🎙(xin)兴🛁(xing)板🅱(ban)块🏌(kuai)，并🈁(bing)加📏(jia)大🥡(da)国👄(guo)际🎸(ji)化🌔(hua)扩💃(kuo)张🤙(zhang)力🔋(li)度🥩(du)，对🏭(dui)冲💳(chong)国🐏(guo)内🏃(nei)下😇(xia)行🚟(xing)周🛡(zhou)期🛫(qi)，2023 年💠(nian)海🌿(hai)外🛬(wai)收🏕(shou)入✨(ru)占👸(zhan)比💾(bi)达📚(da)到🕡(dao)42%。截📦(jie)至🏎(zhi)2023 年⛅(nian)底🚘(di)，公👈(gong)司🎧(si)已🕢(yi)成🎞(cheng)为➰(wei)国🌨(guo)内🚻(nei)装🙅(zhuang)载🏵(zai)机💽(ji)市💹(shi)占🐬(zhan)率⭐(lv)第🚰(di)一🥞(yi)、全⛸(quan)品🧀(pin)类📌(lei)布🈷(bu)局🅱(ju)的🏼(de)国🐟(guo)际🆒(ji)化🐉(hua)工😛(gong)程🥒(cheng)机🖨(ji)械🕴(xie)龙🏍(long)头🍚(tou)企💘(qi)业🆒(ye)。2023年🛀(nian)公🗑(gong)司♋(si)营🎢(ying)收📭(shou)/净🍅(jing)利😢(li)润👬(run)为🚎(wei)275.2 /8.7 亿😗(yi)元🚝(yuan)，同❗(tong)比🚹(bi)+3.9%/ +44.9%；2015-2023 年👅(nian)CAGR 为👨(wei)20.1%/59.2%。在🏣(zai)国🏽(guo)际🖱(ji)化💾(hua)突😋(tu)破🕌(po)和🍌(he)混☕(hun)改🔨(gai)后🏈(hou)降😝(jiang)本🐥(ben)增📽(zeng)效🗡(xiao)加🕘(jia)持😗(chi)下🐠(xia)，公🙋(gong)司🧠(si)净🎁(jing)利🉑(li)润🏮(run)年📛(nian)复🐢(fu)合🐡(he)增🦍(zeng)速🍓(su)远🥧(yuan)超🗻(chao)收🥩(shou)入🥔(ru)增🏖(zeng)速🐂(su)。2024Q1 公🔀(gong)司🦄(si)盈😴(ying)利🍴(li)能🍗(neng)力🐾(li)进👊(jin)一🈯(yi)步🌲(bu)改📭(gai)善⚡(shan)，销🗯(xiao)售🚐(shou)毛🛰(mao)利👦(li)率🙇(lv)/净🕘(jing)利🤵(li)率🕷(lv)分📣(fen)别🎴(bie)为🤺(wei)22.8%/6.5%，同🏉(tong)比🙃(bi)分🕞(fen)别🥠(bie)+4.0/2.3pct。引🥙(yin)领📄(ling)全🤟(quan)球💀(qiu)装🎶(zhuang)载📶(zai)机🏟(ji)电😕(dian)动🔼(dong)化📤(hua)进💏(jin)程🐋(cheng)，挖🐈(wa)掘🐺(jue)机🥥(ji)渠🈶(qu)道🈺(dao)变🥔(bian)革✊(ge)逆🎊(ni)势🚟(shi)扩📞(kuo)张🥥(zhang)公🥩(gong)司🏇(si)为⏱(wei)国🚟(guo)内🥅(nei)土📎(tu)石🕧(shi)方👯(fang)机🛅(ji)械🍮(xie)龙🍻(long)头🐄(tou)，核🎊(he)心🔚(xin)品🌓(pin)类🧠(lei)装🐼(zhuang)载🐩(zai)机♑(ji)和😑(he)挖🚖(wa)掘🦇(jue)机🚧(ji)成🎤(cheng)长🖕(chang)性🔍(xing)凸🦊(tu)显🌬(xian)：①装🔵(zhuang)载🔝(zai)机📸(ji)：装😏(zhuang)载Ⓜ(zai)机🎾(ji)下🔇(xia)游🌓(you)应✖(ying)用🚆(yong)场🚖(chang)景🤭(jing)主🍜(zhu)要⛲(yao)为🏒(wei)钢😌(gang)铁🍓(tie)厂🖖(chang)、矿😜(kuang)山🐝(shan)、物Ⓜ(wu)流👶(liu)、港✌(gang)口📦(kou)等🦐(deng)，工⏸(gong)作🐼(zuo)地♏(di)点🏉(dian)固🚌(gu)定🕯(ding)、设📰(she)备📺(bei)相🏩(xiang)对🥘(dui)集🍃(ji)中😒(zhong)，充🏚(chong)电🧠(dian)站🤛(zhan)建🤪(jian)设📬(she)难🕌(nan)度🏯(du)较🍵(jiao)低👷(di)，同👲(tong)时😈(shi)电🤣(dian)动🛅(dong)装🎥(zhuang)载🧝(zai)机🥒(ji)环🕘(huan)保🎽(bao)属✍(shu)性🥙(xing)强📸(qiang)、全🌀(quan)生🤘(sheng)命🌠(ming)周🛁(zhou)期🛷(qi)成🔏(cheng)本📛(ben)低😥(di)、经🚬(jing)济📩(ji)性💣(xing)强🚁(qiang)。易🤵(yi)充🔜(chong)电🕧(dian)+成🥄(cheng)本🕖(ben)低🎷(di)驱⌚(qu)动🏠(dong)电🅰(dian)装🕊(zhuang)国🌄(guo)内🛺(nei)渗🥦(shen)透🐍(tou)率🈚(lv)提🤤(ti)升🐛(sheng)速⛳(su)度💣(du)快🐿(kuai)，2024M4 国🚖(guo)内🎿(nei)电🏖(dian)动💾(dong)装😟(zhuang)载🏋(zai)机📡(ji)销🖐(xiao)量❗(liang)940 台🚃(tai)，渗🐐(shen)透😽(tou)率🍧(lv)18%，同🦀(tong)比🏡(bi)+14pct，远💾(yuan)期🗂(qi)来🚀(lai)看🔐(kan)国🤚(guo)内📿(nei)电🍮(dian)装🍜(zhuang)渗🎌(shen)透🍕(tou)率🚔(lv)有🌂(you)望👫(wang)达🍓(da)到💾(dao)80%。公👹(gong)司🍜(si)以🗒(yi)装⏰(zhuang)载💅(zai)机🏑(ji)起💂(qi)家🐜(jia)，经💌(jing)过🎯(guo)50 多🔵(duo)年Ⓜ(nian)的😮(de)积🥉(ji)累⌚(lei)和🛺(he)沉⛅(chen)淀🐆(dian)，2023 年💓(nian)装🥄(zhuang)载🧓(zai)机🥝(ji)市💳(shi)占🤚(zhan)率😮(lv)超🤥(chao)过🧒(guo)20%，稳🔤(wen)居🍑(ju)行🏨(xing)业🚀(ye)第⬇(di)一🥀(yi)qie 😹(qie)gong 💢(gong)si 💣(si)dian 📆(dian)dong 🔦(dong)hua 🛹(hua)zhuang 👫(zhuang)zai ✝(zai)ji 🐗(ji)bu ♎(bu)ju 📓(ju)zao 👄(zao)，2023 nian ⛑(nian)dian 🎳(dian)zhuang 🧔(zhuang)shi 🍙(shi)zhan 🍣(zhan)lv ✊(lv)30%+，gong 😳(gong)si 🚑(si)zuo 🦁(zuo)wei 👩(wei)dian 🥏(dian)zhuang 🥋(zhuang)xing 🤲(xing)ye 🎚(ye)long 🏥(long)tou 🏯(tou)you 📇(you)wang 🕕(wang)chong ⛄(chong)fen 🌵(fen)shou 🔮(shou)yi 🏺(yi)yu 😤(yu)dian ⚽(dian)dong ⏮(dong)hua 🏵(hua)shen 🦊(shen)tou 🛥(tou)lv 👖(lv)ti 🌖(ti)sheng 🤧(sheng)。②wa 🤲(wa)jue 🚦(jue)ji 🕌(ji)：2022 nian 🚶(nian)gong 🎄(gong)si 🔯(si)qian 🌈(qian)zhan 🎍(zhan)xing 🙇(xing)jin ♓(jin)xing 🍖(xing)qu 📛(qu)dao 🖤(dao)bian 💖(bian)ge 🍄(ge)，wei 🆔(wei)chi 👤(chi)chan 🏦(chan)pin 🐌(pin)jia 😴(jia)ge 🎍(ge)，ti ➗(ti)zhen 🖲(zhen)qu 🍖(qu)dao 💂(dao)xin 🚄(xin)xin ✡(xin)，zai ⏪(zai)xing 🛐(xing)ye 🙉(ye)xia 📙(xia)xing 🐂(xing)qi ⚽(qi)jian ♊(jian)qi 🙈(qi)he 🐝(he)guo 🥄(guo)nei 👞(nei)xiao 🎭(xiao)wa 🐪(wa)ti 🆑(ti)qian ⛹(qian)fu 🐾(fu)su 🎙(su)qu 🛄(qu)shi ❕(shi)，shi 💂(shi)xian 🐵(xian)shi 🕑(shi)zhan 😓(zhan)lv 🔵(lv)ni ➿(ni)shi 🈵(shi)ti 😨(ti)sheng 😼(sheng)。2023 nian 🍗(nian)gong 👀(gong)si 🕕(si)wa ⌛(wa)jue ㊗(jue)ji 🏗(ji)shi 🔼(shi)zhan ⬅(zhan)lv 🧚(lv)11%，tong 👛(tong)bi 🚲(bi)ti 🤜(ti)sheng ♌(sheng)3-4pct。zhan 📈(zhan)wang ⛹(wang)wei 🏏(wei)lai 💰(lai)，gong 💬(gong)si 🚟(si)zai 🎑(zai)wa ✊(wa)jue 🕸(jue)ji 😮(ji)ling 🎂(ling)yu 🌎(yu)de 😶(de)qu 🌽(qu)dao 🌹(dao)you 🗿(you)shi 🥖(shi)yi 😯(yi)jing ✈(jing)ji ⌛(ji)ben 🔨(ben)wen 💴(wen)gu ⛲(gu)、ti 🥇(ti)qian 🌎(qian)bu 😋(bu)ju 🏰(ju)guo 💽(guo)si 💭(si)chan 🏒(chan)pin 🐾(pin)ju 🏚(ju)bei 🕗(bei)cheng 🔧(cheng)ben 🥏(ben)you 🐪(you)shi 📔(shi)，jing 🙆(jing)dai 🧓(dai)guo 🏢(guo)nei 🥉(nei)shang 🏾(shang)xing 🐎(xing)guai 🤫(guai)dian 🐟(dian)dao 🥡(dao)lai 😌(lai)。hun ♌(hun)gai 🕧(gai)da ⏮(da)fu 🤼(fu)ti 😣(ti)sheng 🚯(sheng)jing 🏃(jing)ying 🍙(ying)zhi 🙋(zhi)liang 🏴(liang)，gu 🖐(gu)quan 🖐(quan)ji 🈯(ji)li 🚾(li)&ke 🆖(ke)zhuan 🏦(zhuan)zhai 🏯(zhai)ti 🐘(ti)sheng 👖(sheng)zong 👇(zong)he 🈁(he)jing ⭕(jing)zheng 🌐(zheng)li 🎸(li)2022 nian 🔭(nian)gong 🥫(gong)si 📿(si)wan 🚱(wan)cheng 🉑(cheng)hun 😥(hun)gai 🗣(gai)bing 📂(bing)shi 🌪(shi)xian 💾(xian)zheng 🀄(zheng)ti 🤱(ti)shang 🎓(shang)shi 🚆(shi)，hun 🏎(hun)gai 🛐(gai)wan 🍜(wan)cheng 😘(cheng)hou 📠(hou)lu 🙎(lu)xu 📲(xu)fa ⛎(fa)bu ⚽(bu)gu 🌤(gu)quan 🔥(quan)ji 💴(ji)li 🏏(li)he 🦌(he)ke 📜(ke)zhuan ✨(zhuan)zhai 😣(zhai)kuo 🐦(kuo)zhang 💡(zhang)chan 🕺(chan)neng 🐳(neng)、sheng 📸(sheng)ji 🌷(ji)zhi 🐩(zhi)hui ⏲(hui)gong 😭(gong)chang 🙀(chang)、ji 🙈(ji)fa 🤜(fa)yuan 🔷(yuan)gong 🤸(gong)ji 🖤(ji)ji 🥧(ji)xing 🏤(xing)，zong 🔤(zong)he 🍒(he)jing 🚷(jing)zheng 🎶(zheng)li 🤮(li)da ⛩(da)fu 🐉(fu)zeng 👄(zeng)qiang 🚃(qiang)：①gu 🎪(gu)quan ⛲(quan)ji 🎥(ji)li 🛍(li)：bang 📟(bang)ding 📣(ding) 974 ming 📌(ming)gao 🖇(gao)guan 😖(guan)ji 🕉(ji)he 🚧(he)xin 👓(xin)gu 😃(gu)gan ⏫(gan)ji 👤(ji)shu 🦃(shu)ren 🚡(ren)yuan 🤛(yuan)，ye 🔒(ye)ji 🛄(ji)kao 🍘(kao)he 💚(he)zhi 🛃(zhi)biao 📳(biao)ju ❎(ju)jiao 🔙(jiao)jing 🍋(jing)ying 😝(ying)zhi 💦(zhi)liang 🐓(liang)，mu 💓(mu)biao ⤴(biao)wei ⬇(wei)2024-2026 nian 📲(nian)gong 🌿(gong)si 📄(si)ROE bu 🏵(bu)di 🥉(di)yu 🥡(yu)6.0%、6.5%he 🖇(he)7.0%，zhang 🈚(zhang)xian 🥫(xian)gong 🐚(gong)si 🙋(si)fa 📌(fa)zhan 📈(zhan)xin 🕋(xin)xin 🎇(xin)。②ke 🔔(ke)zhuan 🔙(zhuan)zhai 🐬(zhai)30 yi 🌜(yi)yuan 🤦(yuan)yong 🛅(yong)yu 🦈(yu)gong 📴(gong)chang ⏲(chang)sheng 🚼(sheng)ji 🔆(ji)、ling 🎷(ling)bu 🍉(bu)jian 💪(jian)chan 📺(chan)neng 🔢(neng)kuo 😔(kuo)zhang 🔨(zhang)、“san 👁(san)hua 🌡(hua)”yan ☝(yan)fa ✈(fa)。wa 🕘(wa)jue 🦑(jue)ji 📊(ji)xiang 👬(xiang)mu 🍵(mu)tou 🦇(tou)chan 🌛(chan)hou 🔥(hou)gong 🎊(gong)chang 🥇(chang)jiang 🐯(jiang)sheng 🌕(sheng)ji 🕟(ji)wei 🥇(wei)zhi 🎒(zhi)hui 👢(hui)gong 🏖(gong)chang 😠(chang)qie 🦈(qie)zhong 🈂(zhong)da 🥁(da)xing 😭(xing)wa 🐮(wa)jue 💽(jue)ji 🎣(ji)shi 🐆(shi)xian 🎄(xian)chan 🕑(chan)neng 🙁(neng)fan 🎸(fan)bei 💼(bei)；zhuang 🎙(zhuang)zai 🥂(zai)ji 🔱(ji)xiang 🏺(xiang)mu 🌋(mu)tou ✉(tou)chan 🏤(chan)hou 🚕(hou)bu 👉(bu)ju 🥘(ju)da 🛏(da)xing 🕚(xing)zhuang 🍛(zhuang)zai 🔪(zai)ji 🕕(ji)ti 🐥(ti)sheng 🌁(sheng)jing 🐍(jing)zheng ⛄(zheng)li 🙍(li)；zhong 🤤(zhong)yuan 🐓(yuan)ye 🌺(ye)ya 🍐(ya)ye ⏬(ye)wu 💪(wu)xin 🐵(xin)gong 😠(gong)chang 🍺(chang)quan 🙁(quan)mian 🍪(mian)tou 🏚(tou)chan 🚛(chan)hou ⛔(hou)ye 🦏(ye)ya 🍵(ya)ling 🔔(ling)bu ⛅(bu)jian 🥍(jian)chan 🛋(chan)neng 🦓(neng)da 😍(da)fu 🥘(fu)kuo 📁(kuo)zhang 📸(zhang)，ling 🐥(ling)bu 🧛(bu)jian 😲(jian)zi 🔇(zi)zhi 🚇(zhi)lv ♟(lv)ti 👈(ti)sheng 🧕(sheng)you 🌻(you)zhu 🐑(zhu)yu 🥥(yu)jiang 🌤(jiang)ben 🕯(ben)zeng 🚂(zeng)xiao 🎑(xiao)，zong 🏴(zong)he 🍼(he)jing 📰(jing)zheng 👔(zheng)li 🚹(li)jin 🌹(jin)yi 🖖(yi)bu 🧒(bu)zeng 👮(zeng)qiang 🔭(qiang)。ying 💉(ying)li 🏢(li)yu 🍨(yu)ce ♟(ce)yu 📣(yu)tou 😾(tou)zi ❗(zi)ping 🎪(ping)ji 😝(ji)：gong 🌱(gong)si 🐲(si)wei 💯(wei)guo 🤦(guo)nei 🏦(nei)tu 🙍(tu)shi 🌛(shi)fang 🥩(fang)ji 🛌(ji)xie 💴(xie)long 🗽(long)tou ♟(tou)，hun 🤕(hun)gai 😙(gai)hou 😢(hou)ding 🚔(ding)wei ♈(wei)guo 🐕(guo)ji 🚲(ji)hua 🍮(hua)、tuo 🍽(tuo)pin 👦(pin)lei ✍(lei)kai 👻(kai)shi 🙁(shi)xin 🦖(xin)zheng 🏊(zheng)cheng 🗳(cheng)。wo 🈸(wo)men 🛢(men)yu 🐾(yu)ce 🌧(ce)gong 🐯(gong)si 🥛(si)2024-2026 nian 🗞(nian)gui 🚾(gui)mu 🍣(mu)jing 🚚(jing)li 🏺(li)run 🚿(run)fen 🚮(fen)bie 🐁(bie)wei 🕰(wei)14.6/19.4/27.3 yi 🤨(yi)yuan 😮(yuan)，dang 🈳(dang)qian 🏾(qian)shi 🈷(shi)zhi 📐(zhi)dui 🐡(dui)ying 🕘(ying)2024 nian 📥(nian)-2026 nian 😟(nian)PE fen 🏷(fen)bie 🌵(bie)wei 💁(wei)15/11/8bei 🥨(bei)，shou 🐴(shou)ci 🔁(ci)fu 🐠(fu)gai 💙(gai)gei 🕌(gei)yu 🛶(yu)“mai 💡(mai)ru ✏(ru)”ping ♈(ping)ji ✏(ji)。feng 🤸(feng)xian 😮(xian)ti 🔟(ti)shi ❌(shi)：guo 🦓(guo)nei 🗨(nei)xing 🚊(xing)ye 🏺(ye)xu ✍(xu)qiu 🔭(qiu)hui ⛄(hui)nuan ✒(nuan)bu 🙎(bu)ji 🍀(ji)yu 👭(yu)qi 🌶(qi)、xing ♋(xing)ye 🎴(ye)jing 🚡(jing)zheng 🎑(zheng)jia 🙀(jia)ju 🐾(ju)、chu 👻(chu)hai 🎅(hai)bu 🕸(bu)ji ➰(ji)yu 🔭(yu)qi 🍺(qi)。