CITIC Securities gave the machinery industry a str

CITIC Securities: give the machinery industry "stronger than the market" rating

CITIC Securities: give the machinery industry "stronger than the market" rating

China Construction machinery information

Guide: CITIC Securities released the latest research report on the construction machinery industry, saying that in December last year, the sales of excavators increased by 58.8% year-on-year, with a cumulative increase of 75.5%; Bulldozer sales increased by 34.6% year-on-year, with a cumulative increase of 62.5%; The sales volume of loaders increased by 20.8% year-on-year, with a cumulative increase of 51.2%; Truck crane sales increased year on year

CITIC Securities released the latest research report on the construction machinery industry, saying that in December last year, the sales volume of excavators increased by 58.8% year-on-year, with a cumulative increase of 75.5%; The sales volume of bulldozers is the ideal material for manufacturing supercapacitors, with a year-on-year increase of 34.6% and a cumulative increase of 62.5%; The sales volume of loaders increased by 20.8% year-on-year, with a cumulative increase of 51.2%; The sales volume of truck cranes increased by 26.8% year-on-year, with a cumulative increase of 29.5%. Considering the macroeconomic slowdown in 2011, the slowdown in the growth rate of fixed asset investment and the base of high growth in 2010, it is expected that the growth rate of the industry in 2011 will fall back to about 18% - 20%. However, in the long run, considering the long-term development trend of urbanization and mechanical operation mode, and taking into account the new driving force that railway construction, regional planning, affordable housing, export recovery and so on will provide for the development of the industry, the prediction that the average annual growth rate of the industry will reach 15% - 20% in the coming years will still be maintained

CITIC Securities believes that at present, the average PE of leading companies in the industry was 12 times and 10 times in 2010 and 2011 respectively. When some electronic tensile machines were loaded into their range, considering the long-term development prospects of the industry and the competitive advantages of Listed Companies in the industry, they continued to maintain the investment rating of the construction machinery industry that was stronger than the market, still maintained the purchase rating of Sany Heavy Industry, Zoomlion Heavy Industry, XCMG machinery, Liugong and Shantui shares, and maintained Xiamen Industrial Group Anhui Heli and Shanhe intelligent's overweight rating