According to the Wisdom Finance APP, construction machinery stocks rose collectively in the morning, as of press time, China National Heavy Duty Truck (03808) rose 11.44%, to HKD 19.68; Sany International (00631) rose 6.5%, to HKD 4.59; First Tractor (00038) rose 6.49%, to HKD 6.73; China Longgong (03339) rose 4.73%, to HKD 1.55; Zoomlion (01157) rose 2.92%, to HKD 4.58.

In terms of news, the National Development and Reform Commission and the Ministry of Finance issued the "Several Measures for Supporting Large-scale Equipment Upgrading and Renewal of Consumer Goods" yesterday. It proposed to organize around CNY 300 billion of ultra-long-term special national debt funds to support large-scale equipment upgrading and renewal of consumer goods. In addition, CME predicts sales of 14,000 excavators of various types in July 2024, a year-on-year increase of 11.1%. Among them, domestic sales will reach 6,000 units, a year-on-year increase of 17%; exports will reach 8,000 units, a year-on-year increase of 7%, marking the first time in 24 years that exports have turned positive on a year-on-year basis.

In its research report, Soochow Securities pointed out that the overall sales volume of excavators in January to July 2024 decreased by about 3% year-on-year, and the decline continued to narrow. Looking ahead, the investment in downstream infrastructure in China is continuously improving. With the continued promotion of large-scale equipment upgrading, the excavator market is expected to gradually emerge from the bottom of the cycle; as for the overseas market, benefiting from the destocking of domestic brands in the overseas market, the low base of exports in the same period last year, and the moderate recovery of demand in some overseas regions, the export market is expected to maintain growth.