JPMorgan: Chinese machinery and heavy truck companies' earnings and cash flow beat expectations; bearish sentiment may be overdone.

Zhitong Finance APP has learned that JPMorgan released a research report stating that the third-quarter operating performance of Chinese machinery and heavy truck companies was generally positive, with most companies' recurring profit and operating cash flow beating expectations. October data reflected continued improvement in core businesses, stable profit margins, accelerated progress in new products and automation initiatives, and continued strong growth in overseas markets; the bank believes that investors' bearish sentiment may be excessive, and that recent sector volatility and risk-averse sentiment are not supported by fundamentals.