China Dragon Gong (03339) rose more than 9%. As of press release, it rose 9.03% to HK$1.69, with a turnover of HK$22.245,800.
The Zhitong Finance App learned that China Dragon Gong (03339) rose more than 9%. As of press release, it had risen 9.03% to HK$1.69, with a turnover of HK$22.245,800.
According to the news, the latest data released by the China Construction Machinery Association shows that in April 2024, excavator sales were 18,822 units, up 0.3% year on year, of which domestic sales were 10,782 units, up 13.3% year on year, much better than previous CME expectations (previous expectations were the same year on year). Exports were 8040 units, down 13.2% year on year, and the decline narrowed month-on-month. Dongwu Securities believes that looking ahead, special treasury bonds and special bonds will gain strength, pressure on the construction machinery base will weaken in the second quarter, and industry data is expected to continue to pick up. A series of policies, such as large-scale equipment updates, have boosted the industry's recovery, and are expected to resonate with the dual cycle of “large-scale equipment update+industry self-renewal”.
Everbright Securities pointed out earlier that in the future, with the backstopping effect of the policy, equipment utilization is expected to pick up, demand in the construction machinery industry is expected to be marginally restored, and the company is expected to benefit deeply as a leading domestic construction machinery company. In recent years, the international competitiveness of the company's products has continued to improve. The overseas market achieved sales revenue of 3.07 billion yuan in 2023, an increase of 20.1% over the previous year. The share of overseas sales revenue in total sales increased from 23.0% in 2022 to 29.2% in 2023.