Hong Kong Stock Concept Tracking | National Infrastructure Investment Blossoms in Multiple Areas in the First Half of the Year, Engineering Machinery Industry Continues to Warm Up (Including Concept Stocks)
I'm LongbridgeAI, I can summarize articles.In the first half of 2025, national infrastructure investment showed a "blossoming in multiple places" trend, and the construction machinery industry continued to recover. The average operating rate of lifting equipment was 66.87%, ranking first among all types of equipment. Sales of aerial work platforms and forklifts both saw significant growth, increasing by 27.9% and 11.7% year-on-year, respectively. In June, 539 aerial work platforms were sold, a year-on-year increase of 153%. The operating rates in various provinces generally exceeded 50%, with particularly outstanding performance in East China and South China
In the first half of 2025, infrastructure investment across the country showed a "blossoming" trend, continuously providing momentum for economic development, with the national average operating rate of construction machinery at 44.81%.
In the second quarter, the operating rate was 47.1%, an increase of 4.62% compared to the first quarter.
Fifteen provinces had an average operating rate exceeding 50%. Among them, Anhui, Fujian, Henan, Jiangxi, Zhejiang, and Chongqing had a comprehensive operating rate exceeding 50% for six consecutive months. This indicates a "blossoming" trend in infrastructure investment nationwide, particularly led by the East and South China regions.
In the first half of the year, among major equipment categories, the average operating rate of lifting equipment was 66.87%, ranking first among all equipment categories.
According to the statistics from the China Construction Machinery Industry Association on major manufacturers of aerial work vehicles, in June 2025, a total of 539 aerial work vehicles were sold, a year-on-year increase of 153%, with 509 units sold domestically, a year-on-year increase of 147%; and 30 units exported, a year-on-year increase of 329%.
From January to June, a total of 2,445 aerial work vehicles were sold, a year-on-year increase of 27.9%; of which 2,312 units were sold domestically, a year-on-year increase of 25%; and 133 units were exported, a year-on-year increase of 115%.
On July 15, according to the statistics from the China Construction Machinery Industry Association on major forklift manufacturers, in June 2025, a total of 137,570 forklifts of various types were sold, a year-on-year increase of 23.1%. Among them, 83,892 units were sold domestically, a year-on-year increase of 27.3%; and 53,678 units were exported, a year-on-year increase of 17.2%.
From January to June 2025, a total of 739,334 forklifts were sold, a year-on-year increase of 11.7%; of which 476,382 units were sold domestically, a year-on-year increase of 9.79%; and 262,952 units were exported, a year-on-year increase of 15.2%.
In June 2025, a total of 53,266 forklifts, excluding electric walk-behind warehouse vehicles, were sold, a year-on-year increase of 14.5%. Among them, 34,899 units were sold domestically, a year-on-year increase of 15.3%; and 18,367 units were exported, a year-on-year increase of 13%.
Since the beginning of this year, leading construction machinery companies such as SANY Heavy Industry, XCMG, Zoomlion, and LiuGong have continued to see steady growth in overseas markets, with overseas sales accounting for nearly or exceeding 50%. The recovery pace in the domestic market is gradually being transmitted from the excavator sector to the non-excavator equipment sector. Leading construction machinery companies are generally becoming "optimistic," expecting the overseas market to maintain a good trend while the domestic market steadily warms up.
Hong Kong stocks related to the construction machinery industry chain:
Zoomlion (01157), SANY International (00631), China Longgong (03339), SANY International (00631), Zhengzhou Coal Mining Machinery Group (00564)