Zhitong Finance App learned that heavy machinery stocks generally declined. As of press release, Morimatsu International (02155) fell 4.29% to HK$5.13; Sany International (00631) fell 3.36% to HK$11.5; China Union Heavy Industries (01157) fell 2.69% to HK$3.98; and China Longgong (03339) fell 2.21% to HK$1.33.
According to the news, according to statistics from the China Construction Machinery Industry Association on major excavator manufacturers, 14,283 excavator units of various types were sold in September 2023, down 32.6% year on year, including 6263 units in China, down 40.5% year on year; exports of 8020 units were exported, down 24.8% year on year. From January to September 2023, a total of 14,8812 excavators were sold, a year-on-year decrease of 25.7%.
Dongwu Securities pointed out that the sales volume of excavators in September was -33% year-on-year, and the industry was under phased pressure. Affected by tight funding for downstream projects, domestic sales of construction machinery still declined significantly in September. Judging from real estate and infrastructure data, in August 2023, the area of newly started housing fell 24% year on year, the amount of completed real estate investment fell 19% year on year, and the popularity of real estate construction did not pick up.