Investment Rating - The report maintains a "Buy" rating for Zhejiang Dingli and Zoomlion, while holding a "Hold" rating for Sany Heavy Industry [1]. Core Insights - The overall sales data for September indicates strong growth in exports, particularly for tower cranes, truck cranes, and forklifts. However, domestic sales for major products, excluding excavators, have declined due to a weak overall economy, especially in real estate construction [1]. - The report highlights a favorable outlook for Zhejiang Dingli due to its high overseas sales ratio, but suggests waiting until after the U.S. presidential election to invest, to avoid potential tariff risks if Trump wins [1]. - There are concerns regarding Zoomlion, as domestic crane demand deterioration may offset overseas growth, leading to some downside risks [1]. - A conservative view is held for Sany Heavy Industry, primarily due to high market consensus expectations [1].
招财日报2024.10.17 中国工程机械行业点评
Zhao Yin Guo Ji·2024-10-17 08:08