招财日报2025.6.11 中国工程机械行业点评

招银国际
11 Jun

行业点评中国工程机械行业 - 5月挖掘机需求放缓,但更新换代周期仍乐观中国工程机械工业协会公布了5月份土方机械销售数据。挖掘机国内销量同比下降1%,略低于我们的预期。不过,鉴于这只是自2024年初以来强劲增长趋势后的单月下跌数据,我们仍然认为挖掘机市场具有韧性,考虑到替换需求驱动下增长仍相对具备确定性。我们了解到,恒立液压(601100 CH,买入)6月份挖掘机液压缸排产量仍呈增长趋势,显示下游...

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