机械行业周报（2024.9.18-2024.9.20）：8月工程机械出口额持续增长，关注该板块投资机会
Shanghai Securities·2024-09-27 04:03

Investment Rating - The industry investment rating is maintained at "Overweight" [4] Core Viewpoints - In August, the export value of construction machinery increased by 9% year-on-year, with the total export value from January to August reaching 246.33 billion yuan, a year-on-year increase of 7.38% [5][50] - The report highlights the improvement in the international competitiveness of China's construction machinery industry due to enhanced product quality, technological innovations in electrification and automation, and better overseas channel layouts [5] - The domestic construction machinery market is expected to continue its recovery, supported by equipment renewal policies and the implementation of national debt projects [5] - The report suggests that companies with global layouts, such as Sany Heavy Industry, Zoomlion, and XCMG, are likely to benefit from the growth in overseas markets [5] Summary by Sections Market Review - The CITIC mechanical industry rose by 0.60% in the past week, ranking 21st among all primary industries [15][17] - Specific segments showed varied performance, with construction machinery up by 4.23% and transportation equipment down by 2.73% [17] Industry High-Frequency Data Tracking - In August 2024, the PMI for the manufacturing sector was 49.1%, a decrease of 0.3 percentage points from the previous month [22] - The sales volume of excavators in August was 15,000 units, a year-on-year increase of 11.8% [23] - The sales of forklifts were 99,000 units, showing a year-on-year increase of 1.3% [30] Investment Recommendations - Recommended companies include Sany Heavy Industry, Zoomlion, XCMG, and others in the construction machinery sector [6] - In the general equipment sector, companies like Anhui Heli and Hantang Group are highlighted [6] Industry News and Announcements - The report notes that from January to August 2024, the total import and export trade of construction machinery reached 46.55 billion USD, with exports growing by 9.2% year-on-year in August [50]