HuaLong Securities: Industry fundamentals are improving, focus on leading forklift companies

Hualong Securities released a research report indicating that the fundamentals of the forklift industry are favorable. It is expected to benefit from a low base effect in the second half of 2024, with sustained growth in the fourth quarter. By September 2025, forklift sales are projected to reach 130,380 units, a year-on-year increase of 23%. Cumulative sales from January to September reached 1,106,406 units, a year-on-year increase of 14%. With the development of artificial intelligence and automation technology, the forklift industry is undergoing an upgrade towards intelligence and automation, and industry profitability is expected to improve