--- title: "How did the revenue and net profit of constituent stocks increase simultaneously, and how did the construction machinery index achieve a \"globalization acceleration\"?" type: "News" locale: "en" url: "https://longbridge.com/en/news/280449178.md" description: "According to data from the China Construction Machinery Industry Association, in January and February 2026, national sales of excavators and loaders both achieved growth, with excavator sales increasing by 13.1% year-on-year and exports rising by 38.8%; loader sales grew by 27.9% year-on-year, with exports up by 43.9%. Under this backdrop, the constituent stocks of the CSI Construction Machinery Theme Index performed well, with an increase of 11.87% over the past year. The construction machinery industry is accelerating its transformation towards intelligence and high-end development, benefiting from domestic infrastructure and overseas market expansion, and is expected to usher in a new round of equipment renewal cycle" datetime: "2026-03-25T09:34:14.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/280449178.md) - [en](https://longbridge.com/en/news/280449178.md) - [zh-HK](https://longbridge.com/zh-HK/news/280449178.md) --- # How did the revenue and net profit of constituent stocks increase simultaneously, and how did the construction machinery index achieve a "globalization acceleration"? ![Image](https://imageproxy.pbkrs.com/https://inews.gtimg.com/om_bt/O2883ohz8hrlrbel8koRTy_4_qjE5EXV5tQVAuUwG04LwAA/641?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg) According to data from the China Construction Machinery Industry Association, in January and February 2026, a total of 35,934 excavators were sold nationwide, a year-on-year increase of 13.1%. Among them, 20,456 units were exported (including 27 electric excavators), a year-on-year increase of 38.8%. In January and February 2026, a total of 21,299 various types of loaders were sold nationwide, a year-on-year increase of 27.9%. Among them, domestic sales were 9,156 units (including 4,717 electric loaders), a year-on-year increase of 11.5%; exports were 12,143 units (including 415 electric loaders), a year-on-year increase of 43.9%. Against this backdrop, as the core target for capital market anchoring development opportunities in the construction machinery sector, how does the performance of the constituent stocks of the CSI Construction Machinery Theme Index interpret the development trends and underlying logic of the domestic high-end equipment manufacturing industry? 1. Leading companies "going overseas" become a new growth engine, with the CSI Construction Machinery Theme Index rising by 11.87% in the past year. Currently, the construction machinery industry, as a core component of domestic high-end equipment manufacturing, is becoming a solid cornerstone for promoting the construction of a manufacturing powerhouse and supporting economic development. The CSI Construction Machinery Theme Index selects 50 representative listed companies involved in the manufacturing of construction machinery such as cranes, earth-moving machinery, concrete machinery, as well as the manufacturing of components like hydraulics and bearings, and engineering machinery leasing, to reflect the overall performance of construction machinery theme listed companies. ![Image](https://imageproxy.pbkrs.com/https://inews.gtimg.com/om_bt/O2MPQWh_x_uAmA7_OKDn09s327sKnKsp7LWhy147UZN3sAA/641?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg) Driven by the dual engines of domestic equipment upgrades, infrastructure efforts, and overseas market expansion, the construction machinery industry is accelerating its transformation towards intelligence and high-end development, entering a new stage of high-quality development. As a strong cyclical industry, construction machinery is influenced by factors such as infrastructure, exports, and equipment upgrades. With the allocation of ultra-long-term special government bonds and special bonds to key areas such as transportation, water conservancy, and energy, the procurement demand for construction machinery such as excavators and cranes has surged, creating a pull effect. At the same time, large-scale equipment upgrade policies combined with the demand for equipment life replacement are expected to usher in a new round of concentrated replacement cycle for existing equipment in the construction machinery industry. Meanwhile, overseas markets have become a new engine for industry growth. Domestic leading construction machinery companies are accelerating their global layout, with products being used in Southeast Asian infrastructure sites, high-end markets in Europe, mining sites in Africa, and urban renovation projects in Latin America. Notably, data shows that in the first half of 2025, the proportion of overseas revenue for several listed construction machinery companies increased. As of the end of the second quarter of 2025, Zoomlion's operating revenue included 13.815 billion yuan from overseas, accounting for over 55% of total operating revenue; Xugong Machinery's foreign revenue reached 25.546 billion yuan, accounting for 46.61% of total operating revenue; Sany Heavy Industry's foreign business revenue was 26.491 billion yuan, accounting for nearly 60% of total operating revenue. Driven by favorable policies and the impact of the industry cycle, the sector has shown significant growth. As of March 20, 2026, the CSI Construction Machinery Theme Index has increased by 11.87% over the past year. II. How do the revenue and net profit growth of constituent stocks contribute to the resilience of the industry index? The CSI Construction Machinery Theme Index (931752) closely follows the strategic direction of becoming a manufacturing powerhouse, focusing on representative listed companies in the field of construction machinery, including complete machine manufacturing and core components, providing an efficient index tool to grasp macro strategies and industrial upgrade opportunities. Currently, construction machinery has become one of the core representatives of high-end manufacturing, and the constituent stocks of the CSI Construction Machinery Theme Index focus on key listed companies in the industry. In terms of market capitalization structure, it shows characteristics of "large-cap stabilizing and small-cap enhancing." The top four weighted stocks are all representative enterprises with a market value of over 100 billion yuan, and the top five weighted stocks account for 61.24% in total. The index exhibits a significant leading effect, with a complete coverage of the industrial chain, becoming a core barometer reflecting the development of the construction machinery industry. The top ten constituent stocks of the CSI Construction Machinery Theme Index are Weichai Power, Xugong Machinery, Sany Heavy Industry, Hengli Hydraulic, Zoomlion, JAC Motors, LiuGong, Zhongchuang Zhitu, Hangcha Group, and Anhui Heli. It includes global leading manufacturers such as Sany Heavy Industry, Xugong Machinery, and Zoomlion, as well as leading companies in core components like Hengli Hydraulic, achieving comprehensive coverage of the construction machinery industrial chain from core components and complete machine manufacturing to intelligent construction applications. In terms of performance of weighted stocks, in the first three quarters of 2025, several listed companies achieved growth in both revenue and net profit, demonstrating strong operational resilience. Among them, Xugong Machinery achieved operating revenue of 78.157 billion yuan, an increase of 11.61% compared to the same period last year; it achieved a net profit attributable to shareholders of listed companies of 5.977 billion yuan, an increase of 11.67% year-on-year. Hengli Hydraulic benefited from the improvement in the localization rate of core components, showing strong profit recovery momentum, with revenue reaching 7.79 billion yuan, a year-on-year increase of 12.31%; net profit attributable to the parent company was 2.087 billion yuan, a year-on-year increase of 16.49%. Overall, with the continuous deepening of industry transformation and globalization, construction machinery manufacturing enterprises are accelerating their transition from merely exporting products to achieving global brand and industrial globalization, gradually growing into a main force in global high-end equipment manufacturing with core competitiveness. 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