Zhejiang Dingli (603338 CH) – Margin expansion in 23E; Volume growth in 24E
We believe the listing of Horizon Construction (9930 HK, BUY), the major customer of Dingli in China market, will enhance the visibility of...
476 Views
China Construction Machinery – Near-Term Recovery More Seasonal than Structural
Following a rally since early Feb, we believe the market has already priced in the upcoming recovery of machinery demand.
241 Views
China Construction Machinery / HDT – 2023 Outlook
We are turning more positive on the construction machinery & heavy-duty truck (HDT) sector as we expect meaningful earnings recovery in 2023E...
395 Views
Zhejiang Dingli - A (603338 CH) – 3Q22 Earnings +36% YoY Better than Expectation
Dingli reported strong net profit growth of 36% YoY in 3Q22, driven by a surprising recovery of gross margin (+5.8ppt YoY) and FX gains that offset...
82 Views