Construction machinery stocks continue to rise. As of the time of publication, Sany Int'l (02155) rose by 6.98%, to HKD 4.6; Sany Int'l (00631) rose by 4.51%, to HKD 4.4; Zoomlion (01157) rose by 2.58%, to HKD 3.97; Weichai Power (02338) rose by 1.29%, to HKD 11.5.
According to the Economic Daily APP, construction machinery stocks continue to rise. As of the time of publication, Sany Int'l (02155) rose by 6.98%, to HKD 4.6; Sany Int'l (00631) rose by 4.51%, to HKD 4.4; Zoomlion (01157) rose by 2.58%, to HKD 3.97; Weichai Power (02338) rose by 1.29%, to HKD 11.5.
On the news front, according to the statistics of the China Construction Machinery Industry Association on the main excavator manufacturing companies, the sales of various excavators in August 2024 was 14,647 units, an 11.8% year-on-year increase, of which 6,694 were sold domestically, an 18.1% year-on-year increase; 7,953 were exported, a 6.95% year-on-year increase. In addition, the official website of Komatsu recently published the working hours data for Komatsu excavators in August, with the working hours for the China region at 93.0 hours, a 3.3% year-on-year increase.
Shanghai Securities pointed out that domestic excavator sales have achieved five consecutive months of year-on-year growth since April 2024, while the export data has achieved positive growth for the first time since 2024. The firm indicated that in recent years, downstream demand for domestic construction machinery has been shrinking and continually bottoming out. Exports have become an important growth point supporting the development of construction machinery enterprises. With the implementation of the Fed's rate cut policy, the expected reduction in interest rates is likely to drive a resurgence in U.S. real estate demand, thereby increasing new construction demand and driving the corresponding increase in construction machinery demand. The export growth rate is expected to further rise, and construction machinery export enterprises are expected to benefit.