External broker reports(aggregated public sources), CMB International

CMB International

Incorporated in Hong Kong, supported by the mainland and targeting in global market, CMB International Capital Corporation Limited (“CMBI”) is an integrated financial institution providing comprehensive and professional services. As a wholly-owned subsidiary of China Merchants Bank ("CMB"), by leveraging on the Group’s synergy and coordination in domestic and overseas markets, as well as CMB’s strong resources and outstanding social reputation, CMBI and its subsidiaries have been actively implementing diversified business strategies and set up an overall layout of main business segments including Corporate Finance, Asset Management, Wealth Management, Global Markets and Structured Finance, etc. Adhering to the philosophy of “being clients oriented and increasing our own values by the way of creating value for clients”, CMBI endeavors to provide quality and integrated financial services to institutional, corporate and individual customers both domestic and overseas including Hong Kong IPO sponsorship and underwriting, share placement and rights issue for listed companies, financial advisors, bonds issuance services, asset management, direct investment, wealth management, equity sales and trading, etc.

External broker reports(aggregated public sources)

Thematic (Sector/Industry)

Hong kong Industrials / Thematic (Sector/Industry)

<ul><li>China Construction Machinery Association (CCMA) released the non-earthmoving machinery sales data for Jun 2026.</li><li>Crawler crane/truck crane sales grew 33%/19% YoY, driven by strong exports. Aerial work platforms (AWPs) grew 38% YoY, which represents growth for three consecutive months.</li><li>Together with the strong growth of earth-moving machinery sales data released early this month, the overall machinery growth in Jun remains strong, which reaffirms our positive stance on the sector driven by upside of global mining capex, the non-earth-moving machinery upcycle, as well as Chinese machinery players’ penetration in emerging markets. </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

China Construction Machinery Association (CCMA) released the non-earthmoving machinery sales data for Jun 2026.Crawler crane/truck crane sales grew 33%/19% YoY, driven by strong exports. Aerial work platforms (AWPs) grew 38% YoY, which represents growth for three consecutive months.Together with the strong growth of earth-moving machinery sales data released early this month, the overall machinery growth in Jun remains strong, which reaffirms our positive stance on the sector driven by upside of global mining capex, the non-earth-moving machinery upcycle, as well as Chinese machinery players’ penetration in emerging markets. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Capital Goods - Strong Growth of Crane Exports in Jun; AWP Continues to See Surprise