Galaxy Securities: The sales growth of domestic and foreign excavators in July exceeded expectations. The outlook for continued strong export of domestic excavators is promising.
Galaxy Securities research report pointed out that the growth rates of domestic and foreign sales in July were +17% and +32% respectively, both exceeding expectations. Galaxy Securities believes that 1. Domestic sales: excavator domestic sales in June recovered to positive growth, exceeding expectations in July, indicating that the funding situation has improved and domestic sales have shown a rising trend. From January to July, cumulative domestic sales of excavators only reached 35% of the same period in 21 years, still in a relatively low range. It is optimistic about the continued recovery of domestic sales for the whole year. 2. Export: The prices of most core bulk commodities such as gold and copper are still relatively high, European interest rate cuts combined with fiscal expansion and economic recovery have led to signs of bottoming out in demand. At the same time, the product strength of domestic main engine manufacturers continues to improve, and it is optimistic about the sustained strength of exported domestic excavators.
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