Zhitong Finance App learned that construction machinery stocks rose collectively in early trading. As of press release, Zoomlion Heavy Industries (01157) rose 4.53% to HK$3.92; Morimatsu International (02155) rose 3.85% to HK$6.2; Sinotruk (03808) rose 1.1% to HK$14.7; and China Longgong (03339) rose 1.43% to HK$1.42.
According to the news, according to the latest data obtained by the First Commercial Vehicle Network, in August 2023, China's heavy truck market sold about 69,000 vehicles, up 13% from July, up 49% from 46,200 vehicles in the same period last year, with a net increase of about 23,000 vehicles. In January-August this year, the heavy truck market sold a total of 619,000 vehicles, an increase of 31% over the previous year. Sinotruk said at a performance briefing earlier that the recovery trend of the heavy truck industry is clear. The scale is expected to reach 90-1 million vehicles in 2023, an increase of more than 30% over the previous year. In the future, the industry demand center will remain around 1-1.2 million vehicles.
Furthermore, Dongwu Securities released a research report saying that overseas construction machinery as a whole is in an upward cycle. Against the backdrop of a high industry export base and the recovery of overseas supply chains, the growth rate of industry export data is under phased pressure, but there is no change in overseas growth trends. According to the construction machinery update cycle, the domestic sales market is expected to welcome a new renewal cycle in 2024-2025, and leaders are expected to gradually begin their performance this year.