03339 LONKING
- 1.520
- -0.010-0.65%
LONKING News
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).
LONKING: DATE OF BOARD MEETING
Pay attention to the wind direction! The construction machinery industry's major players are predicting increased performance for overseas markets, and there is hope for a rebound in domestic demand from the bottom of the cycle.
In the first half of this year, the construction machinery industry has shown differentiation, with plenty of 'big players' in the industry going abroad, while the manufacturers focusing on equipment leasing market are not so optimistic. The main reason for the increase in H1 performance and net profit of companies is: firstly, the increase in overseas income; secondly, the improvement of product gross margin brought by cost reduction and efficiency improvement. With the continuous promotion of large-scale equipment updates, the domestic demand is expected to gradually emerge from the bottom of the cycle.
Citic Sec: Equipment update policy is implemented, equipment investment in related fields is expected to accelerate.
For equipment updates and the scrapping and updating of old operational ships, the National Development and Reform Commission will take the lead in arranging approximately 148 billion yuan of ultra-long-term special national bonds to implement support policies for large-scale equipment updates.
"Hong Kong stock" Hang Seng Index rose 16 points, household appliances and heavy equipment stocks rose sharply, and East Buy selection fell 23%.
The US economy grew more than expected last quarter. The Dow rose 81 points or 0.2% on the evening of the 25th, and the Hong Kong stock market rebounded with the external trend. The Hang Seng Index opened high by 74 points, rose 224 points in the early stage to 17,229 points, and then fell back. It once fell 80 points to 16,924 points, rose 16 points or 0.1% in the whole day, and closed at 17,021 points. The HSI Tech Index rose 22 points or 0.7%, and closed at 3,443 points. The total turnover of the market for the whole day was 104.67 billion yuan, and the net inflow of southbound transactions of Shanghai, Shenzhen and Hong Kong stock connect was 5.791 billion and 4 billion yuan respectively.
HK stocks surge | Construction machinery stocks rise collectively as large-scale equipment upgrades continue to be pushed forward. The expected excavator exports in July are turning positive for the first time.
Construction machinery stocks rose collectively in early trading. As of press time, Sinotruk (03808) rose by 11.44%, to HKD 19.68; Sany Int'l (00631) rose by 6.5%, to HKD 4.59; First Tractor (00038) rose by 6.49%, to HKD 6.73.
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