Core Insights - The construction machinery industry in China is experiencing a decline in operational rates and average working hours for major products in September 2025 compared to the previous year [1] Group 1: Operational Rates - The overall monthly operational rate for major construction machinery products in September 2025 is 55.2%, which represents a year-on-year decrease of 9.08 percentage points and a slight month-on-month increase of 0.06 percentage points [1] - Specific operational rates for key machinery include: - Excavators at 54.5% - Loaders at 58.4% - Truck cranes at 71.5% - Crawler cranes at 56.7% - Tower cranes at 39.5% - Rollers at 45.4% - Pavers at 59.4% - Rotary drilling rigs at 41.5% - Off-road mining dump trucks at 45.4% - Concrete pump trucks at 36.7% - Concrete mixers at 32.2% - Forklifts at 59.2% [1] Group 2: Average Working Hours - The average working hours for major construction machinery products in September 2025 is 78.1 hours, reflecting a year-on-year decrease of 13.3% and a month-on-month decrease of 0.42% [1] - Average working hours for specific machinery are as follows: - Excavators at 62.7 hours - Loaders at 95.7 hours - Truck cranes at 109 hours - Crawler cranes at 89.3 hours - Tower cranes at 47.5 hours - Rollers at 34.9 hours - Pavers at 52.2 hours - Rotary drilling rigs at 66.8 hours - Off-road mining dump trucks at 153 hours - Concrete pump trucks at 42.1 hours - Concrete mixers at 66.3 hours - Forklifts at 97.1 hours [1]

Core Viewpoint - The average working hours and operating rates of major construction machinery products in July 2025 show a decline compared to the previous year, indicating potential challenges in the industry [1] Summary by Category Working Hours - The average working hours for major construction machinery products in July 2025 is 80.8 hours, a year-on-year decrease of 6.91% and a month-on-month increase of 4.58% [1] - Specific working hours for various machinery are as follows: - Excavators: 66.1 hours - Loaders: 99.4 hours - Truck Cranes: 115 hours - Crawler Cranes: 94.4 hours - Tower Cranes: 51 hours - Rollers: 42.8 hours - Pavers: 48.7 hours - Rotary Drilling Rigs: 58.6 hours - Off-road Mining Dump Trucks: 125 hours - Concrete Pump Trucks: 43.5 hours - Mixers: 68.6 hours - Forklifts: 102 hours [1] Operating Rates - The operating rate for major construction machinery products in July 2025 is 56.2%, a year-on-year decrease of 6.72 percentage points and a month-on-month decrease of 0.66 percentage points [1] - Specific operating rates for various machinery are as follows: - Excavators: 56.7% - Loaders: 59.1% - Truck Cranes: 72.8% - Crawler Cranes: 57.9% - Tower Cranes: 39.6% - Rollers: 48.5% - Pavers: 60.9% - Rotary Drilling Rigs: 41.9% - Off-road Mining Dump Trucks: 41.6% - Concrete Pump Trucks: 38.1% - Mixers: 34.2% - Forklifts: 56.4% [1]