Zhitong Financial APP learned that heavy machinery stocks fell collectively. As of press time, Sany International (00631) fell 4.02% to HK $11.46; Mensong International (02155) fell 3.65% to HK $5.54; Zoomlion Heavy Industry Science and Technology (01157) fell 2.06% to HK $3.80; Sinotruk (03808) fell 0.54% to HK $14.66.
According to the news, according to the statistics of the major excavator manufacturers by the China Construction Machinery Industry Association, 12606 excavators of all kinds were sold in July 2023, down 29.7 percent from the same period last year, of which 5112 were domestic, down 44.7 percent from the same period last year, and exports were 7494, down 13.8 percent from the same period last year. From January to July 2023, a total of 121424 excavators were sold, down 24.6 percent from the same period last year, of which 56143 were domestic, down 44.1 percent from the same period last year, and exports were 65281, up 7.62 percent from the same period last year.
Oriental Securities pointed out that the continued downturn in domestic sales compared with the same period last year is related to the switching of GB standards and the fact that real estate demand has not yet penetrated to the start-up side. The bank expects domestic demand in the construction machinery industry to decline slightly in 2023 compared with 2022, while overseas markets will maintain growth but slow. The bank believes that the current prosperity of the construction machinery industry is still in the bottoming stage, with the restoration of the industry boom, the industry concentration is expected to further improve.