The overseas market share of construction machinery is increasing

Release date 2026-03-26 14:28:25 Reading 5

used excavator The overseas market share of construction machinery is increasing, and the domestic update cycle is gradually starting

Among ordinary construction machinery leaders, 'Bulldozer Brother' was the first to disclose the 2025 annual used excavatorreport of Shantui Construction Machinery Co., Ltd. (hereinafter referred to as' Shantui Co., Ltd. ') (000680. SZ). used excavator for saleThe financial report shows that by 2025, the company will achieve a total operating revenue of 14.62 billion yuan, a year-on-year increase of 2.82%; Returning to my mother's net profit, it was 1.1 billion yuan, a year-on-year increase of 9.86%.

It is worth noting that in 2025, the company's domestic and international market performance willused excavator show significant differentiation, with overseas business revenue of 8.741 billion yuan, a year-on-year increase of 17.94%. However, the rapid expansion of overseas markets has brought certain cost pressures to the company. Due to exchange rate fluctuations causing exchange losses, the same financial expenses increased significantly by 268.32% compared to the previous period.

used excavatorIn 2026, Shantui Corporation plans to achieve a revenue of 16.1 billion yuan, with a target of 10.5 billion yuan for revenue from overseas markets, and will continue to focus on overseas market layout. used excavatorWhether the company has the ability to balance overseas investment and profitability, cope with industry cycle fluctuations, and promote subsequent plans to go public in Hong Kong has become a key focus of market attention. used excavatorOn the morning of March 17th, according to the Huaxia Times, a phone call was made to Shantui Shares regarding the above-mentioned issues, and the securities department staff were told that they were "unable to answer".

used excavatorRevenue of 14.62 billion yuan, net profit increased by 9.86%

The annual report shows that in 2025, due to the high-level slowdown and stable upward trend in the operation of the construction machinery industry, the sales of construction machinery will improve and achieve rapid growth in foreign trade, demonstrating overall strong resilience. In this context, Shantui Co., Ltd. has seized the strategic opportunities of structural growth in the domestic industry andused excavator export market, and has withstood the challenges of intensified internal competition and significant decline in local markets. Its business performance continues to improve and its business structure continues to improve.

In 2025, the company's core operating data showed stable performance, achieving a total operating revenue of 14.62 billion yuan for the year, with a slight increase of 2.82%; Realize net profit attributable to the parent company. 1.1 billion yuan, an increase of 9.86% compared to the same period last year; Realize a net profit of 8.7 billion yuan that cannot be deducted from the mother's income, a year-on-year increase of 2.8%. As of the end of the fourth quarter of 2025, Shantui Group's total assets reached 19.057 billion yuan, an increase of 20% compared to the end of last year.

The main business income of Shantui Co., Ltd. is the production and sales of mainused excavator products such as bulldozers, excavators, rollers, graders, pavers, milling machines, concrete machinery, loaders, as well as core components such as track chassis assemblies and transmission parts.

During the reporting period, the company's main business revenue was 13.618 billion yuan, a year-on-year increase of 5.49%, accounting for 93.14% of the total operating revenue, further increasing compared to the proportion of 7.9% in 2024. In terms of profitability, the gross profit margin of the company's main business increased by 1.43 percentage points year-on-year to 0.71%, among which the gross profit margin of engineering machinery mainframe products increased by 1.68 percentage points to 0.80%.

used excavatorLooking at different industries, in 2025, Shantui Group's sales and operating revenue from industrial used excavatorand commercial products will be 13.33 trillion yuan, a year-on-year increase of 7.75%; However, the sales revenue of commercial products was 27.9 billion yuan, a significant decrease of 47.34% year-on-year; Looking at the products separately, the main products of construction machinery amounted to 0.9 billion yuan, a year-on-year increase of 12.15%, accounting for 74.90% of the total operating revenue; The operating income of construction machinery parts and other products was 6.7 billion yuan, a decrease of. 18% compared to the same period.

It is worth noting that the company's domestic and international market performance has shown significant differentiation. During the reporting period, its overseas business revenue was 4.1 billion yuan, an increase of 17.94% compared to the same period in 2024, accounting for nearly 60%; Within the same country, the power of income has decreased by 29% despite spending billions of yuan.

The rapid growth of overseas business is inseparable from the company's sustained efforts in global market layout. In 2025, its overseas warehouses in Indonesia and training centers in Peru will be successively established, and its subsidiaries in Indonesia and Australia will be unveiled and put into operation. The number of overseas subsidiaries will reach thirteen, and the overseas market operation system will be further improved. used excavatorHowever, the direct push of overseas expansion has increased related costs, with sales expenses increasing by 5.01% year-on-year, mainly due to the increase in the number of overseas sales personnel in this period leading to an increase in salary payments; The financial expenses reached 74.1159 million yuan, a significant increase of 268.32% compared to the previous period, mainly due to the significant increase in exchange losses caused by exchange rate fluctuations.

From a financial perspective, in 2025, the net operating cash flow of Shantui Co., Ltd. is expected to be 78.1 billion yuan, with a difficult year-on-year growth of 64%, which is mostly impressive. However, the net cash flow generated from theused excavator for sale investment activities of the same company was 310 million yuan, a decrease from the same period last year; 3.4 billion yuan, a decrease of 349.18% from the recent period, mainly due to the increase in capital for Shandong Heavy Engineering Finance Company in this period. In terms of debt structure, both short-term and long-term borrowings of the company will decrease year-on-year in 2025, and the financial structure will become more stable.

used excavatorIn addition, the company completed the acquisition of 100% equity of Mountain Reconstruction Machinery Co., Ltd. (hereinafter referred to as "Mountain Reconstruction Machinery") in November 2024, which will have significant results in 2025. According to the career commitment he signed at the time, Shan Reconstruction Machinery was required to achieve a net profit of no less than 125.90 million yuan without deducting the mother by 2025. The actual completion was 355.8074 million yuan, with a performance completion rate of 282.60%, far exceeding the promised target.

Overseas market plan to achieve revenue of 10.5 billion yuan by 2026

"2026 is the first year of the" Tenth Five Year Plan ", and the development opportunities and challenges of tused excavatorhe construction machinery industry coexist." Shantui Shares said in its annual report that the company's industry belongs to the construction machinery industry, which is an investment capital driven industry. The industry's development boom is cyclical and is greatly affected by fixed assets investment, macro-control, exchange rate and raw material price. At the same time, the company's products such as bulldozers, excavators, loaders, and rollers are mainly used in earthwork projects such as infrastructure construction, while concrete machinery is mainly used in high-speed railways, bridge construction, water conservancy and hydropower, high-rise buildings, etc. The company's future performance will be more affected by infrastructure construction.

used excavatorTherefore, it should also be clearly seen that the development of the construction machinery industry is facing deepening internal and external environmental changes, increasing risks and challenges. The overall international situation is becoming tense, and the contradiction between strong supply and weak demand is prominent at the same time, posing certain challenges to the industry's development, "emphasized Shantui Co., Ltd.

Based on the assessment of the industry and market environment, Shantui Co., Ltd. has set a business target for 2026, aiming to achieve a total operating revenue of 16.1 billion yuan for the year, an increase of approximately 10%. The domestic and overseas markets remain the focus of the layout, with a planned revenue of 10.5 billion yuan by 2026.

used excavatorSpecifically, in 2026, Shantui Corporation will adopt a development strategy of "both internal and external promotion". Among them, it will stabilize the domestic market and achieve a simultaneous increase in volume. At the same time, used excavatorwe will continue to strengthen our international business, increase investment in overseas resources and key market layout, and focus on product differentiation advantages to enhance our core competitiveness. In addition, we will also expand financial channels, strengthen risk control barriers, actively cooperate with overseas financing channels, and reduce the scale of collection.

Despite the company's clear "internal and external promotion" strategy, this layout still faces significant uncertainties in the context of increasingly fierce competition and industry cycle fluctuations in the global construction machinery market. In the annual report, Shantui Corporation stated that with the continuous development of the company's international business and the further deepening of internationalization, the overseas sales system has become more perfect. However, due to the impact of international balance of payments and foreign exchange reserves, political situation, and used excavator for sale uncertainty in the trend of RMB exchange rate, there is a possibility of losses caused by differences between settlement or collection amounts and contract amounts.

However, in response to fluctuations in international politics, exchange rates, and industry cycles, Shantui Shares has provided coping strategies. According to the financial report, in 2025, Shantui Co., Ltd. will actively pursue mining AI、 New energy strategy, recommend several intelligent transformations. On June 18, 2025, the company's global hair AI brand strategy will deeply integrate artificial intelligence into the entire lifecycle of research and development,used excavator production, procurement, marketing, and service, fully empowering industrial upgrading.

used excavatorBased on the performance of Shanshangtui Shares in 2025, multiple rating agencies have given optimistic predictions about its performance trend from 2026 to 2028. For example, according to a research report by China Post Securities, it is expected that Shantui Group's revenue from 2026 to 2028 will be 16.144 billion yuan, 17.77 billion yuan, and 19.516 billion yuan respectively, with year-on-year growth rates of 10.43%, 10.11%, and 9.78%, respectively; The net profits of returning to mother were 1.499 billion yuan, achievement 2.9 billion yuan, and friend representative billion yuan, with year-on-year growth rates of connection. 77%, attachment. 04%, and 17.85%, respectively.

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The overseas market share of construction machinery is increasing

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The overseas market share of construction machinery is increasing

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