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Interra Resources Enters Heads of Agreement With Sany Heavy Equipment International Unit
[Brokerage Focus] Citigroup: Growth in China's electric heavy-duty truck market, xcmg construction machinery market share increasing.
Jinwu Financial News | Summary: Citigroup Research has provided the latest update on the electric heavy-duty truck (E-HDT) market in China. The report shows that in October, E-HDT deliveries increased by 4.6% month-on-month, reaching 8,250 units, and up 138.1% year-on-year. Sales in the first ten months of this year reached 56,800 units, representing a year-on-year increase of 142.6%. XCMG Construction Machinery's market share increased by 3.6 percentage points month-on-month in October, reaching 19.1%, while Sany Heavy Industry and FAW Jiefang Group's market shares decreased by 4.6 and 0.3 respectively.
Hong Kong stocks movement | sany int'l (00631) fell over 3% again, and the profitability in the third quarter has declined, with the traditional business sector facing some pressure.
Sany int'l (00631) has dropped over 3% again, as of the time of writing, down 3.46%, priced at 4.75 HKD, with a transaction volume of 11.8701 million HKD.
Goldman Sachs pointed out that china state construction engineering corporation machinery industry is slowly recovering in the domestic market, while overseas market share continues to increase.
Goldman Sachs recently released a research report on the performance of China State Construction Engineering Corporation machinery industry in the third quarter of 2024, summarizing that the domestic market recovery is underway but slow. Key points: 1. The type of products significantly affects market share. Companies focusing on earthmoving machinery (such as excavators and wheel loaders), such as Sany Heavy Industry and Guangxi Liugong Machinery, have strong domestic sales performance, while companies focusing on later cyclic machinery categories such as cranes, concrete machinery, and pavers, such as XCMG, Zoomlion, and Dingli, have continuously weak domestic business. 3. The growth in overseas markets indicates an increase in market share.
Hong Kong stock concept tracking | In October, sales of various types of excavators increased by 15.1% year-on-year, and the sales of construction machinery stabilized (with concept stocks).
China Construction Machinery Industry Association: in October, the sales of all types of excavators reached 16,791 units, a year-on-year increase of 15.1%.
Sany Int'l (0631.HK): Traditional business sector is slightly under pressure, looking forward to the new business maturing and gaining volume.
In the third quarter of 2024, the company's traditional businesses all faced varying degrees of pressure. The mining machinery sector experienced a decrease in domestic coal machinery revenue due to the decline in the domestic coal machine industry's prosperity, while the logistics equipment saw an increase due to delivery issues with the products.
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