智通财经APP获悉，东海证券研报指出，挖掘机总销量增幅扩大。In November 2024, domestic excavator sales increased by 20.5% year-on-year, with growth continuing, which is better than cme's expectations.
According to statistics from the Construction Machinery magazine, cme estimates that excavator (including exports) sales in November 2024 will be around 16,900 units, a year-on-year increase of about 13%.
In the long term, the improvement in domestic demand and continued overseas expansion are the main growth logic of the industry.
According to a research report from Donghai Securities obtained by Zhitong Finance APP, the total sales increase of excavators has expanded.
Domestically, in November 2024, domestic excavator sales increased by 20.5% year-on-year, with growth continuing, which is better than cme's expectations. Overseas, excavator exports in November 2024 increased by 15.2% year-on-year, and the growth rate of monthly export sales has expanded.
With the implementation of large-scale equipment renewal policies and real estate financial policies, domestic demand is gradually recovering; overseas, domestic enterprises are laying out overseas pre-sales and after-sales networks, establishing local production capacity abroad, entering an acceleration phase of globalization, gradually increasing market penetration, and effectively smoothing domestic and international cycles.
It is recommended to pay attention to leading machinery and equipment enterprises that have a deep overseas layout, high brand recognition, a complete product matrix, efficient cost expenses, and strong research and development capabilities.
Caixin Securities released a research report stating that the excavator market is highly correlated with the development of the industrial economy. As of November, the total operating hours of machinery nationwide have continued to grow for five consecutive months, with excavators performing the best. With ongoing support from national policies, the development of the industrial economy is expected to strengthen further, continually expanding market demand and injecting vitality into the construction machinery sector. The Ministry of Industry and Information Technology has issued guidance on the renewal of key industrial equipment, continuously reinforcing the foundation for the operation of the industrial economy, promoting domestic demand expansion in China, with growth space for excavators increasing simultaneously, maintaining a bullish outlook on valuation recovery and keeping a "leading the market" rating.
Hong Kong-listed stocks related to construction machinery include:
Zoomlion (01157), Lonking (03339), First Tractor (00038), Sany Int'l (00631), Zhengzhou Coal Mining Machinery Group (00564), Sinotruk (03808), Weichai Power (02338), etc.
