China's Rmb25trn Infrastructure Spending: Bond Issuance, Infrastructure Machinery and Construction
Infrastructure machinery and construction companies will benefit from the escalation of China's infrastructure spending in this year, in our view....
377 Views
Lonking (3339 HK): Position for China's Post-Outbreak FAI Drive?
We believe the Chinese government will boost fixed asset investment (FAI) after the Wuhan coronavirus outbreak is contained. In our view, FAI is...
302 Views
Lonking (3339 HK): A Cheap and Quality Pick for China's Infrastructure Spending
Lonking Holdings (3339 HK) has been a laggard among the Chinese construction machinery companies in last year's rally. However, we think that the...
370 Views
China Construction Machinery: Buy Zoomlion, Sell Sany Heavy
Primary reasons for this insight: Although PBoC cut the RRR by 50bps on 6 Jan to ease the liquidity, which is positive to Industrials, we are...
426 Views
Zoomlion – Consensus Appears to Be Underestimating the Operating Leverage of This Late-Cycle Play
Some of China’s A-share construction machinery names had a very good 2019 as Sany rose 112%, XMCG rose 69% and Zoomlion rose 88% during the year....
369 Views