港股概念追踪|1月土方内外销超预期 机构看好国产工程机械全球市占率提升（附概念股）

Core Viewpoint - The engineering machinery industry is experiencing significant growth, with a notable increase in both domestic and export sales of excavators, driven by strong demand and favorable market conditions [1]. Group 1: Sales Performance - In January 2026, excavator sales reached 18,700 units, representing a year-on-year increase of 49.5% [1] - Domestic sales accounted for 8,723 units, up 61.4% year-on-year [1] - Export volume was 9,985 units, showing a year-on-year growth of 40.5% [1] Group 2: Market Dynamics - Data from the General Administration of Customs indicates that second-hand machinery exports saw significant growth in Q4 2025, with increases of 69%, 80%, and 99% in October, November, and December respectively, indicating effective clearance of existing equipment [1] - Huatai Securities reports that rising global copper prices are expected to boost demand for overseas mining machinery, supporting the outlook for leading domestic manufacturers and component suppliers [1] - The engineering machinery sector is anticipated to benefit from the commencement of key infrastructure projects and a potential recovery in the real estate market, providing support for domestic demand [1] Group 3: Industry Outlook - Guotai Junan Securities highlights that the current cycle of engineering machinery is showing strong overseas performance, with domestic companies expanding their presence in Southeast Asia, Europe, and South America, indicating positive growth prospects for the industry [1]