Machinery and equipment industry sales gradually improved

In May 2012, 28 major excavator manufacturers sold 10,870 excavators, a year-on-year decrease of 23.92%, and a 29.28% decrease from the previous quarter. The total sales of the industry from January to May were 70,337 units, down 39.67% year-on-year. Demand for excavators is gradually improving. According to the investigation of grassroots, overall inventory of dealers continued to decline in May compared with April, and confidence in the sales dealers in the second half of the year was relatively sufficient, and it was still particularly promising for Xiaoyangchun. If the infrastructure projects are gradually overweighted in the third quarter, the sales of excavators will be reflected after September. Exports continued to increase substantially, accounting for a higher percentage. In May, it exported 704 units, an increase of 118.63% year-on-year, accounting for 6.48% of the total, which represented an increase from 5.56% in the previous month.

Orient Securities said it continues to be optimistic about the construction machinery industry. The direction of this round of economic stimulus may be relatively clear. It has a strong correlation with the demand for construction machinery. However, taking into account the profitability and valuation of listed companies in the industry, it is recommended to focus on the leading industry leaders with good performance: Sany Heavy Industry (600031, stocks) (600031) (600031, not rated), Zoomlion (000157, stocks) (000157) (000157, not rated).