Zhi Tong Cai Jing·2026-01-05 06:29Core Viewpoint - Zoomlion Heavy Industry Science and Technology Co., Ltd. (01157) has seen its stock price increase by over 5%, reaching HKD 8.07, with a trading volume of HKD 151 million [1] Group 1: Sales Performance - According to the China Construction Machinery Industry Association, the sales volume of loaders and excavators in November increased by 32% and 14% year-on-year, respectively [1] - CMB International forecasts that Zoomlion's domestic machinery sales from October to November will grow by 20-30% year-on-year, accelerating from a 13% year-on-year growth in Q3 2025 [1] - The company is expected to maintain strong sales growth overseas during the same period [1] Group 2: Industry Outlook - CMB International believes that mining machinery, particularly large mining excavators and trucks, will become the main growth area for Chinese construction machinery manufacturers by 2026 [1] - This growth is primarily driven by high metal prices, declining ore grades, and aging equipment, leading to sustained high capital expenditures from global mining companies [1] - The demand for Chinese brand equipment is expected to be further boosted by Chinese mining companies expanding overseas [1]