6月挖机销售表现亮眼，继续看好工程机械板块

Core Viewpoint - The engineering machinery sector shows strong sales performance in June 2025, indicating resilience in domestic demand and a positive outlook for the industry [3][4]. Group 1: Sales Performance - In June 2025, a total of 18,804 excavators were sold, representing a year-on-year increase of 13.3% [4]. - Domestic sales accounted for 8,136 units, with a year-on-year growth of 6.2%, while export sales reached 10,668 units, marking a 19.3% increase [4]. Group 2: Operational Metrics - The average working hours for major engineering machinery products in June were 77.2 hours, a decrease of 9.11% year-on-year [4]. - The monthly operating rate for major engineering machinery products was 56.9%, down 7.55 percentage points year-on-year [4]. Group 3: Market Outlook - The domestic market is experiencing a slowdown in operations due to the timing of fund availability, but the sales recovery in June suggests strong underlying demand [4]. - The industry is entering a renewal cycle, supported by favorable policies in real estate and infrastructure, which is expected to boost demand [4]. - Export sales continue to grow, with June marking the highest monthly sales volume since last year, driven by improving demand in Europe and strong performance in Southeast Asia, the Middle East, South America, and Africa [4]. - The overall outlook for the engineering machinery sector remains positive, with expectations of strong profit contributions from overseas markets [4].