Construction machinery stocks recorded broad gains during the trading session. At the time of writing, SINOTRUK (03808) rose 6.29% to HK$41.22, LONKING (03339) advanced 5.35% to HK$3.15, SANY INT'L (00631) increased 4.71% to HK$11.57, and ZOOMLION (01157) climbed 3.35% to HK$8.94.

The positive momentum follows data from the China Construction Machinery Association showing that the industry's total import and export value reached $11.072 billion in the first two months of 2026, up 31.4% year-on-year. Exports alone amounted to $10.686 billion, representing a 33.4% increase.

Guangfa Securities noted that domestic sales have improved due to strong post-holiday project activity and a better growth trajectory for excavators. On the export front, accelerating global demand, driven by mining activities in Africa and economic recovery in Europe and the United States, suggests a favorable environment for the industry both domestically and internationally.

Huaxin Securities highlighted in a research report that the excavator sector has shifted from being primarily driven by domestic sales to a dual-engine model combining exports and domestic demand. The proportion of exports stabilized at around 50% in 2025 and saw a notable rise in early 2026. Meanwhile, loader exports have maintained rapid growth, accounting for more than half of total industry sales since the beginning of 2026, indicating strong overseas demand as a key growth driver.

Domestic sales also achieved double-digit growth in January-February 2026, reflecting a balanced and structurally optimized market supported by both domestic and international demand.