Zoomlion Heavy Industry Science and Technology Co., Ltd. (01157) rose more than 3%, and as of writing, the stock was up 2.54% to HK$10.49, with a turnover of HK$62.5367 million. A Citigroup research report noted that domestic tower crane shipments in January recorded a 7% year-on-year increase, ending a 30-month consecutive year-on-year decline trend since July 2023. This reflects not only a low base effect but also a slight improvement in market demand following China's removal of the "three red lines" policy for the real estate sector, consistent with the bank's expectation that recent improvements in utilization and rental rates would soon translate into growth in domestic tower crane demand. The bank expects this news to positively catalyze Zoomlion's stock price, naming the company as its top pick in the sector due to the high proportion of its crane machinery business. Notably, a Citigroup report dated February 5 pointed out that China’s State Council issued the "No. 1 Document," aimed at advancing agricultural modernization and promoting comprehensive rural revitalization. The document also emphasized the use of innovative technologies such as AI, drones, and robotics to enhance productivity in China's agricultural sector. The bank believes that among Chinese machinery manufacturers, the document is particularly positive for Zoomlion. It is estimated that approximately 8% of the company's 2026 revenue will come from its agricultural machinery business. According to the bank’s 90-day upside catalyst watch for Zoomlion, the "No. 1 Document" can be viewed as an additional catalyst.