In January 2026, construction machinery had a “good start”, with sales of excavators and loaders soaring. Gas turbines are booming due to demand for AI, and three blue chip stocks have been highly recommended. Whether you are an investor or a practitioner, this weekly report is worth collecting, and you can clearly understand the current trends in the machinery industry in one article.
1. Core subdivisions: 3
The prosperity of major racetracks is differentiated, and the highlights are outstanding
This week’s report focuses on the three core segments of construction machinery, gas turbines, and general equipment. The overall situation shows a pattern of “reviving construction machinery, high prosperity of gas turbines, and differentiation of general equipment.”
(1) Construction machinery: Sales volume got off to a good start in January, with exports becoming the core driving force
In January 2026, the construction machinery sector will have a “good start”.
Excavator sales in January were 18,708 units, a year-on-year surge of 49.5%; domestic sales were 8,723 units (+61.4%), with the core driver being the misaligned Spring Festival holiday, with a low base in the same period last year; exports were 9,985 units (+40.5%), benefiting from the recovery in overseas demand and high metal prices driving the mining boom.
The sales volume of loaders in January was 11,759 units, +48.5% year-on-year; domestic sales were 5,293 units (+42.82%), continuing the industry’s recovery trend; exports were 6,466 units (+53.4%), and the growth rate continued to increase, becoming an important pole for sector growth.
The sales volume of truck cranes in December 2025 was 1,911 units, a year-on-year increase of +38.10%, which has been positive growth for four consecutive months, further confirming the overall recovery of the construction machinery sector.
The current excavator sales deviate from infrastructure and real estate investment data, mainly relying on the equipment update cycle, water conservancy infrastructure investment and the export market. Subsequent implementation of debt elimination policies and advancement of major projects are expected to further boost domestic sales, while strong overseas commodity prices will continue to support exports.
(2) Gas turbines: AI drives high prosperity, orders from international giants + production expansion are booming
The gas turbine industry is ushering in a historically high boom, with the core driving force coming from the construction of AI data centers. Global power demand is surging, and gas turbines have become the core solution to solve the power gap in Europe and the United States with their advantages of “fast start-up, strong peak load regulation, and low carbon emissions”.
The order data is eye-catching. GEV signed 18GW of new gas turbine orders in the fourth quarter of 2025, and had 80GW of orders on hand at the end of 2025, with sufficient order reserves; Siemens Energy signed 26GW of new orders (194 units in total) in fiscal year 2025, a year-on-year surge of 94%, and demand has exploded.
The expansion plan is accelerating. GEV plans to increase its production capacity to 20GW in 2026 and further increase it to 24GW in 2028. The production capacity will be doubled soon. Siemens Energy has increased its production capacity by 30% from 17GW to 22GW in 2025 and plans to increase it to more than 30GW from 2028 to 2030. It also plans to spend US$1 billion in the next two years to expand domestic production capacity in the United States.
(3) General equipment: segmentation and differentiation, policy + domestic substitution as the main line
The performance of each segment of general equipment is differentiated. Machine tools, robots, and forklifts each have their bright spots. The core main line revolves around “policy support, domestic substitution, and technological upgrading.”
II. Sector market review (2026.02.09 –
2026.02.13)
The machinery sector performed strongly this week, outperforming the major market indexes.
In terms of market indexes, the Shanghai Composite Index rose 0.41%, the Shenzhen Stock Exchange Component Index rose 1.39%, and the ChiNext Index rose 1.22%; the Machinery Index (CITIC) rose 2.47%, significantly outperforming the three major market indexes, and the sector prosperity increased.
In terms of industry-wide performance, computers (+4.00%), electronics (+3.70%), and media (+3.66%) were the leading industries; commerce and retail (-3.07%), food and beverages (-2.52%), and textiles and clothing (-2.24%) were the leading industries.
In the machinery segmentation track, laser processing equipment (+8.82%), 3C equipment (+6.72%), and oil and gas equipment (+5.81%) led the gains; photovoltaic equipment (-3.57%), lithium battery equipment (-2.88%), and service robots (-1.21%) led the decline, and the differentiation trend was obvious.
3. Key recommendations: 3 blue-chip stocks, performance + logic are both online
Based on industry prosperity, company performance and growth logic, 3 blue-chip stocks are highly recommended. The core highlights are clear and can be directly referenced for layout.
4. Important announcements of listed companies (core summary)
This week’s report discloses core announcements of a number of listed companies, covering performance, capital actions, overseas layout, etc.
In terms of performance disclosure, Inovance Technology’s revenue in 2025 is expected to be 42.968-46.672 billion yuan (+16% – 26% year-on-year), and the net profit attributable to the parent company is expected to be 4.971-5.400 billion yuan (+16% – 26% year-on-year). The performance has grown steadily; the performance of companies such as Kede CNC, Unilide, and Puyuan Precision Electronics has declined to varying degrees in 2025.
In terms of capital action, Xinrui Shares plans to spend no more than 700 million yuan to acquire 70% of the equity of Huilian Electronics to expand PCB tool-related business and improve the business layout; Han’s Laser controlling shareholders plan to reduce their holdings of no more than 0.9672% of the company’s shares; Oukeyi shareholders plan to reduce their holdings of no more than 1% of the company’s shares; Hangcha Group’s joint-stock company Henan Jiachen Intelligent passed the listing review on the Beijing Stock Exchange, and capital operations are steadily advancing.
In terms of other important announcements, the Nip Mining Machinery subsidiary signed a three-year mineral processing equipment-related contract with a Mongolian company and successfully expanded its overseas business; Liugong’s vice chairman and senior vice president resigned. The company stated that this resignation will not affect normal production and operations.
V. Investment Suggestions and Risk Warnings
(1) Investment Suggestions
Based on industry prosperity and segmented track performance, focus on three major directions: first, engineering machinery (driven by exports + equipment updates); second, gas turbines (explosion of demand for AI data centers); third, general equipment (policy support + domestic substitution + mass production of humanoid robots). Focus on the three recommended high-quality targets to seize structural investment opportunities.
(2) Risk warning
The recovery of downstream demand is less than expected, affecting the overall prosperity of the industry; the development progress of emerging technologies and industries is less than expected, dragging down the growth of related subdivisions; the risk of raw material price fluctuations, affecting corporate profitability; the risk of short-term stock price fluctuations of listed companies, so investment needs to be cautious.
Finally, I would like to ask everyone: Do you think the rebound in the construction machinery market can be sustained?
Among the 3 recommended targets, which one are you most optimistic about?
Leave messages in the comment area to communicate and seize investment opportunities in the machinery industry together.
