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2025-11-17 11:01:59 UBS has published a research report indicating a more optimistic outlook on the Chinese construction machinery industry compared to market expectations. In the broker's estimate, the current upward cycle in the industry will not peak out until 2029 instead of the market consensus of 2028-29. The growth potential and strong earnings resilience of companies' mining-related businesses have not yet been fully reflected in their stock performance. Chinese equipment manufacturers' global market share in mining trucks and mining excavators is likely to reach over 20% by 2030, while mining-related businesses may become another engine for company growth. UBS has given a Neutral rating to ZOOMLION (01157.HK) and LONKING (03339.HK) and elevated their 2025-26 EPS growth forecasts to 49%/ 27% and 21%/ 17%, respectively. The broker also named XUGONG CONS (000425.SZ) as its industry top pick with a Buy rating, citing its higher proportion of mining-related business, sturdy growth, and attractive valuation. The target prices for ZOOMLION and LONKING were lifted from HKD6.4 and HKD2.2 to HKD7.8 and HKD3.2, respectively. ~ AAStocks Financial News Web Site: www.aastocks.com | |