Sany International (00631) fell by more than 5%, down 5.81% at press time to HK$4.38, with a turnover of HK$26.95 million.
The Zhitong Finance App learned that Sany International (00631) fell by more than 5%, down 5.81% at press time, to HK$4.38, with a turnover of HK$26.95 million. It is worth noting that the company's stock price has been negative for four consecutive years, and the stock price hit a new low in the past two years.
Previously, according to statistics from the China Construction Machinery Industry Association on major excavator manufacturers, 12,608 excavators of various types were sold in February 2024, down 41.2% year on year. Of these, 5,837 units were sold in China, down 49.2% year on year; 6,771 units were exported, down 32% year on year. From January to February 2024, a total of 24,984 excavators were sold, down 21.7% year on year; of these, there were 1,1258 units in China, down 24.6% year on year; 13,726 units were exported, down 19.1% year on year.
Dongwu Securities said that in January-February, the industry sold a total of 24,984 excavators, a year-on-year decrease of 21.7%; in China, the year-on-year decrease was 24.6%, down 24.6% from the same period last year. Excluding Spring Festival factors, the decline in domestic excavator sales narrowed in the first two months; 13,726 units were exported, down 19.1% year on year. Reviewing the domestic construction machinery cycle, 2016 was the starting point of the previous upward cycle of the industry. Based on the 8-year service life, renewal demand is expected to start in the second half of 2024. Furthermore, the new round of large-scale equipment updates promoted by the central government is expected to drive the elimination of a number of old “country 1” and “country 2” construction machinery models in the market and launch an industry renewal cycle.