研报掘金丨麦高证券:中联重科盈利能力持续修复,具身智能未来有望构建公司全新增长极

中金财经
Sep 25

  麦高证券研报指出,中联重科2025H1归母净利润达27.65亿元,同比增长20.84%;二季度实现归母净利润13.55亿元,同比下降1.29%。公司盈利能力持续修复,多种产品毛利率回升。受益于国内市场回暖与海外市场开拓,2025H1公司起重机械/混凝土机械/土方机械业务分别实现营收83.74/48.69/42.93亿元,同比增长1.24%/15.66%/22.11%。另一方面公司海外市场收入达138.15亿元,同比增长14.66%,中东、东南亚、澳新等市场保持高速增长,公司有望长期受益于海外市场开拓战略。中联重科已建设人形机器人训练场,并打造了中科云谷具身智能平台,含云端超脑、大小脑端到端算法模型,以及从数据采集、处理、标注到模型训练、测评、推理部署的整套工具链,具身智能未来有望构建公司全新增长极。予6个月A股目标价为9.32元,港股目标价为7.64元,维持“买入”评级。      【免责声明】本文仅代表作者本人观点,与和讯网无关。和讯网站对文中陈述、观点判断保持中立,不对所包含内容的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考,并请自行承担全部责任。邮箱:news_center@staff.hexun.com   

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