--- title: "Leading companies raise prices combined with the resonance of the update cycle, engineering machinery ETF GF Fund trades actively" type: "News" locale: "en" url: "https://longbridge.com/en/news/287180998.md" description: "Recently, leading companies in the construction machinery industry have raised prices, and expectations for improvements in domestic and foreign demand have increased. The construction machinery ETF has seen active trading, with an average daily transaction amount reaching 254 million yuan. Leading enterprises such as Sany Heavy Industry, LIUGONG, and XCMG have all raised prices, reflecting the certainty of supply and demand improvement and profit recovery in the industry. It is expected that the total operating revenue of construction machinery manufacturers will grow by 12% year-on-year in 2025 and 2026, with overseas markets becoming the core engine of growth, and the industry entering an upward cycle" datetime: "2026-05-21T08:03:10.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/287180998.md) - [en](https://longbridge.com/en/news/287180998.md) - [zh-HK](https://longbridge.com/zh-HK/news/287180998.md) --- # Leading companies raise prices combined with the resonance of the update cycle, engineering machinery ETF GF Fund trades actively Recently, leading companies in the construction machinery industry have collectively announced price increases, coupled with an improved outlook for domestic and foreign demand, raising the heat in the construction machinery sector. According to Choice data, as of the close on May 21, the CSI Construction Machinery Theme Index has risen 3.05% in the past month, and the **GF Fund CSI Construction Machinery Theme ETF (560280, OTC Connect A/C: 020903/020904)** has seen active trading, with an average daily turnover of 254 million yuan over the past month. From the industry perspective, the main line of recovery in construction machinery is gradually becoming clearer. Since May, leading companies in the industry have collectively raised prices, with Sany announcing a 5% price increase for all excavators starting from May 15, and LIUGONG and XCMG also announcing price increases of 3%-5% for excavators starting from May 20 and June 1, respectively. **The simultaneous price increases by the three major leaders reflect an improvement in the supply-demand structure of the industry, enhanced bargaining power, and further certainty in profit recovery.** Zheshang Securities research indicates that in 2025 and the first quarter of 2026, the total operating revenue of the five major construction machinery manufacturers is expected to grow by 12% year-on-year, with overseas contributions accounting for 65% of profits. Customs data shows that China's construction machinery export trade volume has increased from about 21 billion USD in 2020 to over 60 billion USD in 2025, with an annual growth rate exceeding 20%. In the first four months of 2026, the export amount has reached 21.8 billion USD, a year-on-year increase of 20.8%. **Driven by the industry's high-end and intelligent transformation, the global competitiveness of domestic construction machinery equipment has become prominent, with overseas markets becoming the core engine of industry growth.** Additionally, as existing equipment enters an 8-10 year replacement cycle, a peak in replacements is expected from 2025 to 2028, with both domestic and foreign demand supporting the industry into an upward cycle. The construction machinery industry has both cyclical attributes and growth elasticity. As a heavy asset, low elimination, and rigid demand sector, construction machinery aligns well with the current market focus on the HALO concept, and its long-term allocation value is being reshaped by the market. **The CSI Construction Machinery Theme Index selects 50 representative sample stocks involved in construction machinery manufacturing and parts production, characterized by high purity and high concentration.** According to the Shenwan secondary industry classification, the construction machinery industry accounts for over 52%, with the top ten weighted stocks exceeding 72%, covering leaders such as Weichai Power, Sany, and XCMG, effectively capturing long-term growth opportunities in the industry. Choice data shows that as of May 20, this index has cumulatively risen 171.64% since the base date (June 30, 2016), with an average annualized return of 10.98%; During the upward phase of industry renewal demand, the index shows greater resilience. For example, from 2016 to 2020, during the equipment renewal period, the engineering machinery index rose by 128%. **The Engineering Machinery ETF GF (560280) is the first ETF in the industry to track this index**, having attracted over 340 million yuan in the past month, leading among ETFs of the same category with a scale of 3.9 billion yuan, and is equipped with **offshore connection funds (Connection A/C: 020903/020904)** to meet the allocation needs of different investors. Research institutions are optimistic about the future performance of engineering machinery. Zheshang Securities Research believes that the engineering machinery cycle is reversing upward, with core operational performance growth expected to continue, and the industry is likely to accelerate in development by 2026. Galaxy Securities points out that domestic sales have exceeded expectations, coupled with collective price increases from leading companies, the industry's price center is expected to return to a reasonable range; export prosperity is also continuing, and under the resonance of volume and price, profit elasticity is expected to be released. Under the triple resonance of equipment renewal, overseas expansion, and price increases by leading companies, the investment value of the Engineering Machinery ETF GF focusing on this sector may be emerging. 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