The Zhitong Finance App learned that China Dragon Gong (03339) is now up nearly 5%. As of press release, it has risen 4.93% to HK$1.49, with a turnover of HK$21.5313 million.
Everbright Securities released a research report saying that currently the construction machinery industry is still bottoming out. Considering that the effects of macroeconomic policies are lagging behind, construction machinery is currently at the bottom of demand. In the future, with the underpinning effect of the policy, equipment utilization is expected to pick up, demand in the construction machinery industry is expected to be marginally repaired, and the company is expected to benefit deeply as a leading domestic construction machinery company.
The bank pointed out that due to high demand due to insufficient production capacity supply in overseas markets and the continuous increase in the international competitiveness of the company's products in recent years, the overseas market achieved sales revenue of 3.07 billion yuan in 2023, an increase of 20.1% over the previous year, and the share of overseas sales revenue in total sales increased from 23.0% in 2022 to 29.2% in 2023. As the company's overseas layout deepens and construction machinery export trends continue to strengthen, the company's overseas business revenue is expected to continue to grow.