03339 LONKING
- 1.450
- -0.010-0.68%
LONKING News
Goldman Sachs: Maintains a "Neutral" rating on LONKING (03339) with a Target Price of 1.6 Hong Kong dollars.
Goldman Sachs maintains a cautious attitude towards the demand cycle for Construction Machinery in the mainland.
Hong Kong stock concept tracking | Domestic excavator sales are better than cme expectations. Under the background of domestic demand expansion, the valuation of the construction machinery sector is undergoing a repair (with related concept stocks attache
In November 2024, the domestic sales of excavators increased by 20.5% year-on-year, continuing to grow, better than cme expectations.
Lonking Holdings And 2 Other Undiscovered Gems To Enhance Your Portfolio
HSBC Research raised the target price for Zoomlion (01157.HK) to 6.2 yuan and is bullish on Sany Heavy Industry (600031.SH).
A report by HSBC Research indicates that the demand for exports of domestic construction machinery in the belt and road region is robust, providing higher profit margins, although tariffs remain a potential downside risk. Meanwhile, the domestic market has limited downside potential and has shown some signs of recovery, with a slight growth expected in 2025, driven by stimulus measures that will create upside potential. The bank is bullish on sany heavy industry (600031.SH) and zoomlion (01157.HK) listed in hong kong, raising the target price for the latter from 5.7 yuan to 6.2 yuan, maintaining a "buy" rating. The bank expects the industry's export growth next year to remain between 10% to 20%, from this year.
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%.
Heavy equipment stocks generally rose in the afternoon, with zoomlion up 4.72% and sany int'l up 1.38%.
Heavy equipment stocks generally rose in the afternoon, with Zoomlion (01157) up 4.72% at HKD 5.55; Sany Int'l (00631) up 1.38% at HKD 5.16; Lonking (03339) up 1.34% at HKD 1.51; First Tractor (00038) up 0.29% at HKD 6.96.
Hong Kong stocks abnormal movement | Heavy equipment stocks rise, excavator domestic sales continue to grow at double-digit rate, bond-for-equity swap policy is expected to drive demand marginal improvement.
Heavy equipment stocks rose, as of the time of publication, zoomlion (01157) rose by 3.96%, to 5.51 Hong Kong dollars; sany int'l (00631) rose by 3.73%, to 5.28 Hong Kong dollars; lonking (03339) rose by 1.34%, to 1.51 Hong Kong dollars; first tractor (00038) rose by 1.3%, to 7.03 Hong Kong dollars.
Hong Kong stock concept tracking| The start of the large-scale engineering project in Sichuan and Chongqing is promoted by the western development, and the market demand for the construction machinery sector is expected to rebound.
The total investment is about 67.3 billion yuan, bundling bids for the projects of Jin Kou River to Xichang, and Zhaojue to Puge expressways.
Demand for earthmoving machinery rises, domestic sales of excavators in September increase by more than 20%, will infrastructure recovery be boosted by debt restructuring? | Industry News
① In September, domestic excavator sales increased by nearly 20% year-on-year, marking the sixth consecutive month of double-digit positive growth in domestic sales. ② With the gradual implementation of equipment renewal subsidies and the accelerated construction of major domestic infrastructure projects, the industry is expected to gradually emerge from the downturn.
LONKING: INTERIM REPORT 2024
Hong Kong stock concept tracking | Institutions value the export opportunities of construction machinery as North American capacity is gradually released (with concept stocks)
The North American market has strong demand, and domestic host manufacturers are expected to achieve breakthroughs in the field of micro excavators first.
Lonking Holdings Posts Strong Profit Growth
Lonking (03339.HK) achieved a net income of 0.458 billion yuan in the first half, a year-on-year growth of 49.19%.
On August 29, Gelunhui announced that lonking (03339.HK) achieved a total revenue of RMB 536 million in the first half of 2024, a decrease of RMB 36.6 million compared to the same period in 2023, a year-on-year decrease of 6.39%. The group's product structure mainly consists of loaders and forklifts, with loaders still being the group's flagship product and main source of profit. The group fully utilizes its vertical integration advantage, continuously enriching and improving the category of loaders based on customer demand. The meticulously crafted series of electric loaders are highly favored by customers, accounting for a significant portion of the sales volume.
Performance: Lonking (03339.HK) reported a half-year net profit of 0.458 billion Chinese yuan, an increase of 49.1%, and no dividend will be distributed.
Lonking (03339.HK) announced its interim performance for the period ending June this year, with revenue of 5.36 billion yuan (same below), a year-on-year decrease of 6.4%. Net profit was 0.458 billion yuan, a year-on-year increase of 49.1%; earnings per share were 0.11 yuan. No dividend will be paid.
LONKING: INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2024
In July, the actual sales volume of Henry Hub natural gas heavy trucks was 0.0179 million, a significant increase of 69% compared to the same period last year. The market is not optimistic in August.
In July 2024, domestic sales of Henry Hub natural gas heavy trucks reached 0.0179 million, a 10% increase compared to June of this year, and a 69% increase year-on-year. The year-on-year growth rate expanded by 40 percentage points compared to last month (+29%).
In July, the domestic sales of excavators maintained a double-digit growth. The update of equipment in the second half of the year may speed up the industry's recovery.
①From June to September, the sales of the industry usually enter the traditional slow season, but this year the July season is not slow, and the excavator demand remains strong. ②The overseas market is still the main engine of growth for the second half of this year and even next year. The domestic market is expected to accelerate its recovery in the second half of the year thanks to the recovery of project start-up rates and the accelerated renewal of equipment.
Northeast Securities: Excavator cycle bottoming out, overseas markets open up growth space.
Policy stimulus combined with a considerable scale of stock and old markets will help excavator sales in the domestic market to achieve a bottom stabilization this year.
Lonking Holdings Plans Board Meeting for Interim Results
Lonking (03339.HK) will hold a board of directors meeting on August 29 to approve the mid-year performance.
Lonking China (03339.HK) announced on July 31st that the company will hold a board meeting on August 29th, 2024 to consider and approve the interim performance of the company and its subsidiaries for the six months ending on June 30th, 2024, as well as the publication of such performance, and to consider the payment of interim dividends (if any).
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