中国工业 - 工程机械行业将鼎力评级上调至增持-China Industrials-Construction Machinery Upgrade Dingli to OW

November 4, 2025 05:09 PM GMT China Industrials | Asia Pacific Construction Machinery: Upgrade Dingli to OW We remain positive on the outlook for construction machinery, with the domestic up-cycle, overseas recovery and Chinese brands' market share gains in 2026e. With easing tariff pressure and expansion of product range, we upgrade Dingli to OW. Key Takeaways Price Target Rmb52.00 Rmb64.00 Leaders achieved solid growth in both domestic and overseas sales in 3Q25: Domestic sales growth of four key OEMs (Sa ...