2024年10月工程机械主要产品月开工率为65.1%，环比增长1.31%。其中：挖掘机70%；装载机63.9%；汽车起重机80.1%；履带起重机63.5%；塔式起重机47.5%；压路机57.8%；摊铺机83.4%；旋挖钻机55%；非公路矿用自卸车55.5%；混凝土泵车45.3%；搅拌车47.9%；叉车41.1%。China Construction Machinery Industry Association: Sales of 16,791 excavators of various types increased 15.1% year-on-year in October
The Zhitong Finance App learned that according to statistics from the China Construction Machinery Industry Association on major excavator manufacturers, 16,791 excavators of various types were sold in October 2024, an increase of 15.1% over the previous year. Its sales volume in China was 8,266 units, up 21.6% year on year; export volume was 8,525 units, up 9.46% year on year.
From January to October 2024, a total of 164,172 excavators were sold, up 0.47% year on year; it sold 8,2,211 units in China, up 9.8% year on year; exported 81961 units, down 7.41% year on year.
The monthly operating rate of major construction machinery products in October 2024 was 65.1%, an increase of 1.31% over the previous month. Among them: excavators 70%; loaders 63.9%; truck cranes 80.1%; crawler cranes 63.5%; tower cranes 47.5%; rollers 57.8%; pavers 83.4%; rotary drilling rigs 55%; off-highway mining dump trucks 55.5%; concrete pump trucks 45.3%; mixers 47.9%; forklifts 41.1%.
According to the Fangzheng Securities Research Report, the downstream construction machinery: excavators, cranes, and concrete machinery is mainly based on real estate and infrastructure, benefiting from downstream demand such as farmland and water conservancy. The growth rate of small excavation sales was the first to correct. Sales of large excavation and medium excavation also gradually stabilized, and the domestic sales growth rate of excavators has maintained steady year-on-year growth since March.
As the capital chain for terminal projects eases, it is expected that the pressure on accounts receivable from leasers and OEMs will be relieved, and parts manufacturers are also expected to benefit indirectly.
Hong Kong stocks related to construction machinery include:
Zhonglian Heavy Industries (01157), China Longgong (03339), First Tractor Co., Ltd. (00038), Sany International (00631), Zheng Meiji (00564), Sinotruk (03808), Weichai Power (02338), etc.
