Investment Rating - The investment rating for Sany Heavy Industry Co., Ltd. is Overweight, indicating that the stock's total return is expected to exceed the average total return of the industry coverage universe over the next 12-18 months [2]. Core Insights - The report highlights a modest revenue miss in 4Q24, with a year-over-year revenue increase of 8%, primarily due to lower-than-expected sales in concrete machinery and excavators. However, net profit increased by 131% year-over-year, driven by a decline in selling expenses and non-operating income [5][6]. - The company is viewed as a key beneficiary of China's economic recovery and global expansion in 2025, despite facing some challenges from tariffs affecting approximately 5% of its revenue exposure to the U.S. [5]. Financial Summary - For FY24, revenue is projected to increase by 6% to Rmb78 billion, with net profit expected to reach Rmb5.84 billion, reflecting a 30% increase year-over-year [5]. - The report provides detailed financial metrics, including an EPS forecast of Rmb0.69 for FY24, with a projected increase to Rmb1.28 by FY26 [2]. - The gross profit margin for 4Q24 was reported at 22%, a decrease of 7 percentage points year-over-year, but the core business gross profit margin is expected to improve to 28% in 2024 when excluding GAAP effects [5][6]. Price Target and Market Metrics - The price target for Sany Heavy Industry Co., Ltd. is set at Rmb24.00, representing a 25% upside from the closing price of Rmb19.19 on April 18, 2025 [2]. - The company has a market capitalization of Rmb162.84 billion and an average daily trading value of Rmb1.088 billion [2].

Investment Rating - The investment rating for Zhejiang Dingli Machinery Co Ltd. is Overweight [6]. Core Insights - The report indicates that China's Aerial Working Platform (AWP) sales have shown a narrowing decline, with a 10% year-over-year decrease in March, totaling 18.2k units, compared to a 20% decline in the first three months of 2025. Domestic sales fell by 22% year-over-year to 8.8k units, while exports increased by 6% year-over-year to 9.4k units [1]. - Dingli has suspended shipments to the US due to tariffs but anticipates growth in non-US markets [1]. Summary by Sections Sales Performance - In March, AWP sales in China decreased by 10% year-over-year to 18.2k units, with domestic sales down 22% to 8.8k units and exports up 6% to 9.4k units [1]. Company Overview - Zhejiang Dingli Machinery Co Ltd. is a leading supplier of aerial working platforms in China, making the AWP sales volume a significant indicator for its share price [4]. Financial Metrics - The price target for Dingli is set at Rmb70.00, indicating a potential upside of 77% from the closing price of Rmb39.48 on April 18, 2025 [6]. - The company has a market capitalization of Rmb19,991 million and an enterprise value of Rmb15,647 million [6]. - Projected revenues for the fiscal years ending in December are Rmb6,312 million for 2023, Rmb8,450 million for 2024, Rmb10,020 million for 2025, and Rmb11,487 million for 2026 [6]. Valuation - The report applies a P/B multiple of 2.8x to the 2025 estimated book value per share, which aligns with its average P/B over the past three years, reflecting similar ROE levels and earnings growth [8].

Investment Rating - The report maintains a "BUY" rating for SANY Heavy, with a target price revised to RMB22 from RMB21, indicating a potential upside of 15.4% from the current price of RMB19.06 [1][3]. Core Insights - SANY Heavy's net profit for 2024 is projected at RMB5.97 billion, reflecting a 32% year-over-year increase, which aligns closely with estimates [1]. - The company is focusing on emerging markets such as Asia Pacific, Africa, the Middle East, and South America, while remaining cautious about the US and European markets due to geopolitical concerns [1]. - The management highlighted the growth potential in large-size and mining excavators, positioning SANY as a key player in the excavator upcycle [1]. Financial Performance - Revenue for FY24 is expected to reach RMB78.38 billion, a 5.9% increase from FY23, with further growth projected to RMB88.84 billion in FY25 and RMB97.80 billion in FY26 [2]. - Adjusted net profit is forecasted to grow to RMB7.72 billion in FY25 and RMB8.88 billion in FY26, with corresponding EPS increasing to RMB0.91 and RMB1.05 respectively [2]. - The proposed dividend for FY24 indicates a 51% payout ratio, up from 41% in FY23, marking the highest payout since 2017 [1]. Regional Revenue Breakdown - In 2024, overseas revenue is expected to grow by 12% year-over-year, contributing 64% of total revenue, with Africa showing a significant 44% increase [6][8]. - The revenue breakdown for overseas markets in 2024 includes Asia Pacific (42%), Europe (25%), America (21%), and Africa (11%) [8]. Earnings Forecast Adjustments - The earnings forecasts for 2025 and 2026 have been slightly revised upwards by 5% and 7% respectively, reflecting the anticipated earnings upcycle [1][13]. - The target price adjustment to RMB22 is based on an unchanged target P/E of 24x, which is 0.5 standard deviations above the average of 20x since 2017 [1][3]. Share Performance - The market capitalization of SANY Heavy is approximately RMB161.74 billion, with an average turnover of RMB1.51 billion over the past three months [3]. - The stock has experienced a 1-month decline of 6.7% but a 3-month increase of 23.6% [5].

MILWAUKEE, April 8, 2025 /PRNewswire/ -- Regal Rexnord Corporation (NYSE: RRX) announced today that it plans to release its first quarter 2025 financial results after the market closes on Monday, May 5, 2025. Regal Rexnord will host a conference call to discuss the earnings release at 9:00 am CT (10:00 am ET) on Tuesday, May 6, 2025. To listen to the live audio and view the presentation during the call, please visit Regal Rexnord's Investor website: https://investors.regalrexnord.com. To listen by phone or ...

TELFS, Austria and WESTMINSTER, Colo., April 7, 2025 /PRNewswire/ -- Trimble® (Nasdaq: TRMB) and Liebherr announced the introduction of a Trimble Ready® factory option for the new line of Liebherr PR 776 Generation 8 bulldozers, the latest model from Liebherr's competitive dozer lineup to feature this advanced technology. This option allows bulldozers shipped direct from the Liebherr factory to be pre-equipped with a Trimble Ready kit, streamlining onsite installation of the Trimble Earthworks grade control ...

11月挖掘机国内销量预计8 60 0台左右 国内市场预估销量8600台，同比增长近15%。受益于新一轮集中换新周期到来，地产宽松政策效果逐步显现、国家大规模换新政策催化作用显现等因素影响，国内 市场有望进入新一轮增长周期。 出口市场预估销量8300台，同比增长近12%。受益于国产品牌去库存逐渐完成、同期低基数、海外部分地区需求温和复苏，出口市场向好。 按照CME观测数据，2024年1—11月，中国挖掘机械整体销量持续正增长，涨幅为1.5%，降幅持续收窄。其中，国内市场同比增长超过10.3%，出口市场销量同比下 降6%。数据环比2024年1—10月均有改善。 经草根调查和市场研究，CME预估2024年11月挖掘机（含出口）销量16900台左右，同比增长13%左右。市场持续回暖：国内市场筑底回升态势明显，出口市场逐步 修复，持续复苏。 分市场来看： 下游端：基础设施投资持续改善 作为挖掘机应用两大下游之一，基础设施投资持续改善。 2024年1—10月份，全国固定资产投资（不含农户）423222亿元，同比增长3.4%，其中，民间固定资产投资212775亿元，下降0.3%。从环比看，10月份固定资产投 资（不含农户） ...

2 0 2 3年11月开始调查 2023年11月13日，欧委会发布公告，决定对原产于中国的移动式升降作业平台整机和成套散件产品（mobile access equipment, the pre-assembled or ready-to-assemble sections of mobile access equipment）发起反倾销调 查。 日前，欧盟委员会公布了对中国制造并进口到欧盟的高空作业平台征收关税的最终裁决（AD698）。 2024年7月宣布临时关税 2024年7月12日，欧盟委员会发布公告，对原产于中国的移动式升降作业平台（Mobile Access Equipment）作出反倾销初裁，初步裁定对涉案产品征收14.3%～55.3%的临时反倾销税。 | Company | Provisional dumping margin | | --- | --- | | Hunan Sinoboom Intelligent Equipment Co., Ltd. | 55,3 % | | Oshkosh JLG (Tianjin) Equipment Technology Co., Ltd. | 54.5 ...