On October 8th, Morgan Stanley's research report pointed out that most mainland construction machinery companies' third-quarter sales met expectations. In addition to the steady growth of overseas gross profit and the narrowing of local losses, there have been improvements. However, caution is still maintained towards the mainland cycle and overseas destocking in the fourth quarter, with individual companies' operations being the main differentiating factor. The bank prefers Jiangsu Hengli Hydraulic and Zhejiang Dingli Machinery, with target prices raised to 69 yuan and maintaining a 'shareholding' rating. Furthermore, the target prices for Sany Heavy Industry and Zoomlion have been raised from 14 yuan and 3.9 Hong Kong dollars to 20 yuan and 5 Hong Kong dollars respectively, maintaining a 'synchronized with the market' rating. The bank is more bullish on Jiangsu Hengli Hydraulic due to its strong fundamentals.