HK Stock Market Move | ZOOMLION (01157) rises by over 4% again, terminates the split of SANY Heavy Industries for restructuring and listing, institutions say domestic bottoming out, overseas repair expected.

ZOOMLION (01157) rose by more than 4%, as of the time of writing, up by 4.49% to HK$4.19, with a turnover of HK$35.8197 million. In terms of news, ZOOMLION announced that the company has decided to terminate the listing-related matters of its subsidiary, Hunan ZOOMLION Intelligent High-altitude Operation Machinery Co., Ltd., through restructuring with Shenzhen Roadrover Technology Co., Ltd. Due to significant changes in the current market environment compared to when the spin-off was initially planned, in order to effectively protect the interests of the company and investors, after full consideration and careful deliberation with all relevant parties, the company has decided to terminate the spin-off related matters. Guosheng Securities pointed out that ZOOMLION is a domestic construction machinery giant with a continuously expanding product range and smooth progress in overseas layout. The firm believes that the domestic construction machinery market is bottoming out, and in the future, with policy catalyzing domestic demand recovery and the arrival of renewal and replacement demand, it may see an uptick. In addition, the overseas excavator market has been declining since the second half of last year, but looking ahead to the second half of this year, with a low base from last year, the end of overseas elections, gradual clarification of policies in various regions, and gradual inventory digestion, the decline is expected to narrow or turn positive.