China Merchants International issued a report stating thatbingocalling, Zoomlion (000157) continues to expand overseas markets. In the first quarter, the proportion of overseas revenue rose to 48%(less than 10% three years ago), and the proportion of machinery sales related to Chinese real estate investment dropped to 15%(more than 40% three years ago). I believe Zoomlion will embark on a new structural growth track. China Merchants International raised Zoomlion's 2024 - 2026 profit forecast by 12% to 14%, due to increased assumptions about overseas sales and gross margins.
The bank set its H-share target price to 5bingocallingHK$..5 rose to HK$7.5, and the rating was upgraded to "Buy" from "Hold".
