Dual domestic and international sales drive growth. The China Construction Machinery ETF Huaxia (515970) is consolidating with the lowest fee rate among similar funds.

On April 2, the morning session saw all three major A-share indexes fall across the board. The Shanghai Composite Index fell 0.18% intraday. Sectors such as agriculture, forestry, animal husbandry and fishery; coal; and oil and petrochemicals led the gains. Media and computer-related sectors saw the biggest declines. Individual stocks within the construction machinery sector diverged. After the China Huaxia Construction Machinery ETF (515970.SH) opened lower and dipped, it then traded sideways and stabilized. As of 10:07, it was down 1.20%. Among its constituent stocks, Tongli Shares rose 2.57%, Jiangling Motors rose 1.45%, Wuxin Tunnel Equipment rose 0.88%, and Weichai Power rose 0.75%. However, some newer players such as Xinrui Co., Ltd. and Dianpu Technology performed poorly, with their daily gains/losses at -8.87% and -7.79%, respectively.

According to Persistence Market Research, the global construction machinery market size in 2026 will be $78.6 billion, and it is expected to reach $137.3 billion by 2033, with a CAGR of 8.3%. The Asia-Pacific region is the leading market. Demand is driven by infrastructure investment in China and India, where excavators are the largest sub-segment. Companies such as Caterpillar and Komatsu are accelerating the deployment of autonomous driving and AI predictive maintenance technologies. Green, low-carbon equipment and intelligent service models are becoming new opportunities.

Huaxin Securities said that exports are the core driver of the construction machinery industry. The demand for excavators driven by overseas sales is rising markedly. The excavator industry has shifted from a “domestic-sales-led” model to a dual-engine driver of “exports + domestic sales.” In 2025, the export share remained basically stable at around 50%, and in early 2026 it was significantly lifted. Wheel loaders maintained double-digit growth in both domestic and overseas sales. Wheel loader exports continued to grow at a rapid pace. Since 2026, the export share has exceeded half of the industry’s total sales, indicating strong demand in overseas markets and that they have become the industry’s main growth driver. From January to February 2026, both domestic and overseas sales achieved double-digit growth simultaneously, and the overall market showed a positive outlook with a dual-engine drive from both internal and external sales and improving structure.

China Huaxia Construction Machinery ETF (515970) closely tracks the CSI Construction Machinery Theme Index, enabling one-click allocation to leading companies in the industrial chain, and fully benefits from the upturn in the construction machinery industry’s business cycle. Currently, the fund’s management fee is 0.15% per year and the custody fee is 0.05% per year, placing it at the lowest tier among similar products in the industry.

Daily Economic News

(Editor: Dong Pingping ）

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