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<Research>JPM Expects Tibet Dam Project to Benefit Construction Machinery Stocks, Likes WEICHAI POWER/ CHINA RAILWAY/ Others
The recent announcement of the hydropower development plan for the lower reaches of the Yarlung Zangbo River in Tibet started to direct funds towards construction machinery stocks,...
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<Research>JPM Expects Tibet Dam Project to Benefit Construction Machinery Stocks, Likes WEICHAI POWER/ CHINA RAILWAY/ Others
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The recent announcement of the hydropower development plan for the lower reaches of the Yarlung Zangbo River in Tibet started to direct funds towards construction machinery stocks, according to JPMorgan's research report.

The broker believed that the complex terrain makes traditional machinery play a key role in the early stages of the project. Of which, WEICHAI POWER (02338.HK)  -0.220 (-1.322%)    Short selling $34.96M; Ratio 29.553%   (000338.SZ)  +0.010 (+0.066%)   , as a leading enterprise in heavy-duty truck engines and construction machinery, is particularly suitable for the environmental requirements of dam construction. JPMorgan included the company in its positive catalyst watch list, and rated the stock at Overweight, with target prices of $22/ RMB24 for its H-/ A-shares.

Related NewsHSBC Global Research Ratings, TPs on Construction Materials (Table)
SANY HEAVY INDUS(600031.SH)  -0.160 (-0.802%)   and XUGONG CONS(000425.SZ)  -0.060 (-0.716%)   are also leaders in large heavy machinery, a field with higher threshold, both rated at Overweight, with target prices of RMB25/ RMB11.1 each. CHINA RAILWAY (00390.HK)  -0.040 (-1.013%)    Short selling $12.36M; Ratio 19.707%   (601390.SH)  -0.020 (-0.351%)   had a market share of about 40% in tunnel machinery, with rating at Overweight, and target prices of $5/ RMB8.2 for its H-/ A-shares.

In addition, traditional infrastructure stocks such as CRRC (01766.HK)  -0.030 (-0.551%)    Short selling $14.74M; Ratio 10.877%   (601766.SH)  -0.080 (-1.083%)   and CONCH CEMENT (00914.HK)  -0.050 (-0.220%)    Short selling $41.22M; Ratio 31.470%   recently rallied, reflecting the market's interpretation that policy direction has shifted from mere risk control to supporting the initiation of new projects. Therefore, the broker rated CRRC at Overweight, with target prices of $6.8 and RMB10.1.

Overall, the Yarlung Zangbo River hydropower development plan is expected to drive demand for upstream industries such as construction, machinery, cement and steel, while the power equipment sector, including XJ ELEC(000400.SZ)  -0.110 (-0.484%)   , SIEYUAN ELEC(002028.SZ)  +0.850 (+1.090%)   and HUAMING(002270.SZ)  -0.050 (-0.284%)   , can also benefit.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-08-01 16:25.) (A Shares quote is delayed for at least 15 mins.)

Related NewsHSBC Global Research Ratings, TPs on Construction Materials (Table)

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