Glonghui, May 30, and CaiTong Securities's 29th research report pointed out that in 2023, downstream demand is expected to usher in marginal improvement. Zhonglian Heavy Industries (000157.SZ) core businesses such as lifting machinery and concrete machinery are expected to reverse the bottom, and a gradual recovery in operating performance and profitability can be expected. The company's leading position in the construction machinery industry is stable, and the competitiveness of the core sectors of cranes and concrete machinery continues to increase; emerging sectors such as excavators and aerial work platforms continue to gain strength and are expected to become a new engine for future performance growth; the company's layout of countries along the “Belt and Road” is gradually improving, and overseas revenue is expected to maintain rapid growth. The company's net profit from 2023-2025 is estimated to be 3.779, 4.946, and 6.358 billion yuan respectively, and the corresponding PE is 14.19, 10.84, and 8.43 times, respectively. Give the company an “increase in holdings” rating.