Citi expects Zoomlion to benefit from the national policy on agricultural technology in mainland China, reiterating a "Buy" rating

AASTOCKS
2026.02.04 04:16

Citigroup's research report indicates that the Chinese State Council has released the "No. 1 Document," aimed at advancing the modernization of the agricultural industry and promoting comprehensive rural revitalization. The document also points out that innovative technologies such as AI, drones, and robots should be utilized to enhance the productivity of China's agricultural industry.

The bank believes that among China's machinery manufacturers, this document is particularly positive for Zoomlion (01157.HK). It is estimated that about 8% of the company's revenue in 2026 will come from the agricultural machinery business. Based on the bank's observation of 90-day upward catalysts for Zoomlion, it considers the "No. 1 Document" as an additional catalyst and reaffirms its "Buy" rating with a target price of 10.2 yuan

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