From March to March, sales of construction machinery declined year-on-year

During the same period, the domestic key manufacturers in January and February and the first half of March had 37%, 18%, and 46% respectively. The March decline was noticeably narrower but still negative. In March, sales were light in the east and still good in the west. The market remains to be seen. According to the historical ring data, the sales of excavators in March and April are estimated to be 15,000 units and 12,000 units, which was a 30% year-on-year decline in March. If the operating rate can be increased to more than 50% and the use of organic machines is relatively high, new demand can be expected. It is expected that sales of construction machinery in China will decline year-on-year in March-April this year.

We believe that after the construction machinery sector experienced the anticipated peak season and the adjustment of the “State Five”, although the valuation was low but it was reasonable, the changes in the stock price before the operating rate and sales volume rebounded should only be expected to fluctuate.

The offshore oil drilling experience will reach new heights: In the 13 years, CNOOC Offshore Engineering will record a new high, which is expected to reach 88 billion yuan, more than double the 41 billion yuan in 12 years, and the amount of offshore engineering projects in the 14 years will also be 50. More than % increase. Our global oil drilling equipment database has also observed that the utilization rates and daily rates of offshore jack-up drilling platforms have recently reached new highs. It is recommended to pay attention to offshore oil and gas drilling equipment and construction companies like CNOOC.

Railway Transport and Equipment: The Ministry of Transport stated that the railway company has the power to regulate the price of railway transportation, which shows that the reform of China's railway market-oriented operation mechanism is advancing and it will touch the sensitive area of ​​price. If the process of marketization is fast, it will be beneficial to the demand for railway transportation vehicle equipment.