As the construction machinery industry picks up, many market dynamics deserve attention.
In early trading today (June 9), semiconductor silicon wafer concept stocks rose sharply, with Shanghai Silicon Industry, Youyan Silicon, Zhongjing Technology, Leon Micro, TCL Zhonghuan, Shengong Technology, etc. leading the gains.
Among them, TCL Central (002129) once fell by more than 5%. At about 10:26 in the morning, the stock suddenly rose sharply. The stock price instantly turned from green to red, and the daily limit was sealed within 10 minutes. The maximum number of orders blocked by the daily limit reached more than 2 million lots.
In addition to semiconductor silicon wafers, other technological topics such as copper-clad laminates, glass fiber, semiconductor materials, wafer industry, circuit boards, semiconductor equipment, etc. also experienced considerable increases.
According to statistics from the China Construction Machinery Industry Association, in May 2026, major excavator manufacturers sold 24,800 excavators of various types, a year-on-year increase of 36.2%.
Among them, domestic sales were 11,600 units, a year-on-year increase of 38.6%; exports were 13,200 units, a year-on-year increase of 34.2%.
From January to May 2026, major excavator manufacturers sold a total of 126,875 excavators, a year-on-year increase of 24.7%.
Among them, domestic sales were 68,100 units, a year-on-year increase of 18.5%; exports were 58,700 units, a year-on-year increase of 32.9%.
As the construction machinery industry recovers, it ushered in the first large-scale collective price increase in the past three years.
Since May, Sany Heavy Industry and Liugong have successively issued price increase notices.
Sany Heavy Machinery, a subsidiary of Sany Heavy Industry, announced that it will increase the price of its excavator products by 5% starting from May 15; Liugong announced that it will increase the price of its excavator products by 5% starting from May 20.
In addition, the price increases of international construction machinery giants are even higher.
Caterpillar implemented a 3% to 5% surcharge on some models in March, and plans to carry out a second round of 4% to 7% price increases in July; Komatsu raised prices for excavators and loaders by 7% and 8% respectively in February, and announced a unified price increase of 5% for all series of construction models in August; John Deere will increase prices for construction and forestry product lines by 5% starting from June 1.
Soochow Securities pointed out that the sales of excavators in May exceeded expectations. The high domestic growth was mainly due to the month-on-month improvement in the capital disbursement rate in the second quarter, superimposed on the low base effect in the same period last year; the export exceeding expectations was mainly due to the strong prosperity of mining areas such as Africa, which not only hedged against the decline in the Middle East, but also supported the sector to grow again based on last year’s high base.
CITIC Construction Investment said that domestic sales of excavators this year showed a relatively obvious shift back from the peak season because the Spring Festival this year is later than last year. Domestic excavators have returned to high year-on-year positive growth since March and are expected to continue to maintain growth in the future.
Exports maintained a strong performance and were not disturbed by the international situation, tariff changes, interest rate cuts, etc. China’s construction machinery maintained a high growth trend.
According to statistics from Securities Times·Databao, as of the close of trading on June 8, construction machinery stocks had fallen by an average of 3.7% this year, underperforming the Shanghai Composite Index during the same period.
Six stocks rose by more than 10%, namely Handler, Changling Hydraulics, Forster, Aidi Precision, Shaoyang Hydraulics, and Tuoshan Heavy Industry.
Herrenager’s cumulative increase during the year reached 170.86%, ranking first.
From the perspective of valuation level, as of the close of trading on June 8, there were 14 construction machinery stocks with a rolling price-to-earnings ratio of less than 30 times, such as Tongli Shares, Liugong, Anhui Heli, Noli Shares, Shantui Shares, etc.
Tongli shares’ rolling price-to-earnings ratio is 9.41 times, ranking at the lowest position.
The company recently accepted an institutional survey and stated that overseas business is expanding in a normal and orderly manner in 2026. At the same time, the tight energy supply caused by the impact of overseas situations has promoted the attention and promotion of new energy products among overseas customer groups.
The TED136 electric drive rigid mining truck has been successfully developed and is still being tested and tested repeatedly in the mining area. Because the price is significantly higher than the existing wide-body trucks (135 and 145 models) and the capacity improvement is limited, customer demand is not strong, and it has not yet been sold in batches.
In terms of future growth potential, according to consensus predictions from more than five institutions, there are 9 construction machinery stocks with net profit growth rates expected to reach more than 20% this year and next.
Leading industry stocks such as Sany Heavy Industry, Hengli Hydraulics, Xugong Machinery, and Zoomlion Heavy Industry were shortlisted. For example, Sany Heavy Industry, the stock received “positive” (including buy, overweight, strong recommendation, etc.) ratings from 28 institutions.
Compared with the closing price on June 8 and the target price unanimously predicted by institutions, Liugong has the highest upside potential, reaching 44.09%.
Changjiang Securities research report believes that Liugong’s electric products have leading advantages and open space for global layout.
In 2025, the company will successfully roll off 23 electric products and launch 15 on the market, covering more than ten product lines such as loaders, excavators, mining trucks, and industrial vehicles.
As of the end of 2025, the electric series products are sold to more than 60 countries and regions around the world, with cumulative global sales exceeding 60,000 units. The technical strength and product quality of electric products are leading, and it is expected to fully benefit from the increase in electrification penetration in the industry under the background of high oil prices.
Statement: All information content on Databao does not constitute investment advice. The stock market is risky, so investment needs to be cautious.
