Heavy equipment stocks rise. As of the time of posting, Lonking (03339) rose 4.43% to HKD 1.65; Sany Int'l (00631) rose 1.9% to HKD 5.35; Zoomlion (01157) rose 0.35% to HKD 5.8.
According to the news, heavy equipment stocks are rising. As of the time of posting, Lonking (03339) rose 4.43% to HKD 1.65; Sany Int'l (00631) rose 1.9% to HKD 5.35; Zoomlion (01157) rose 0.35% to HKD 5.8.
On the news front, The China Construction Machinery Industry Association released the sales report for major products in May. According to statistics, 17,824 excavators of various types were sold in May, a year-on-year increase of 6.04%, including 8,518 in China, a year-on-year increase of 29.2%; 9,306 were exported, a year-on-year decrease of 8.92%. Previously, CME predicted that the sales of various types of excavators by major manufacturing companies would reach around 16,200 in May 2024, an increase of about 5% year-on-year.
Previously, Soochow Securities pointed out in a research report that looking ahead to the second half of the year, downstream basic infrastructure investments in China continue to improve, combined with the upward trend in new demand, domestic sales of construction machinery have clearly turned upward, opening up a new cycle of upward movement; Looking at overseas markets, due to the high base number last year and the high level of short-term inventory, export growth was under pressure. In the second half of 2024, with the disappearance of the high base effect and the end of dealer inventory reduction, it is expected that the overseas growth rate will rebound.