Heavy machinery stocks generally strengthened. As of press release, Sany International (00631) rose 14.58% to HK$4.95; Zoomlion Heavy Industries (01157) rose 4.05% to HK$5.4; and Yituo shares (00038) rose 3.75% to HK$6.37.
The Zhitong Finance App learned that heavy machinery stocks strengthened in early trading. As of press release, Sany International (00631) rose 14.58% to HK$4.95; Zoomlion Heavy Industries (01157) rose 4.05% to HK$5.4; Yituo shares (00038) rose 3.75% to HK$6.37; and Morimatsu International (02155) rose 0.66% to HK$4.58.
According to the news, according to Mysteel's incomplete statistics, as of April 3, a total of 10 listed companies in the construction machinery industry announced their 2023 results, with total revenue of 349.143 billion yuan and total net profit of 17.995 billion yuan. Six of these companies achieved a “double increase” in revenue and net profit. Among them, the net profit of Weichai Power and Zhonglian Heavy Industries achieved a year-on-year increase of more than 50%. Furthermore, Sany International continued to achieve high overall growth and achieved the best operating performance in history.
Orient Securities previously pointed out that real estate stimulus policies plus large-scale equipment upgrades are expected to drive a marginal improvement in domestic demand, and internationalization will continue to be realized. The bank believes that domestic demand for construction machinery is expected to gradually recover with policy support, and that export growth is slowing down without changing the momentum of leading companies to expand overseas. Domestic demand in the construction machinery industry is expected to continue to decline in 2024 from 2023, but the decline is expected to narrow; at the same time, exports are expected to resume positive growth under the global layout of domestic enterprises.