Citigroup: The 90-day upward catalyst observation for China Communications Construction is further spurred by the Central Document No. 1.

Citigroup released a research report stating that the Chinese State Council has issued the No. 1 document, aimed at promoting the modernization of the agricultural industry and promoting comprehensive rural revitalization. The document also points out that innovative technologies such as AI, drones, robots, etc. should be used to enhance the productivity of China's agricultural industry. The bank believes that among Chinese machinery manufacturers, this document is particularly positive for Sany Heavy Industry. It is estimated that about 8% of the company's revenue in 2026 will come from agricultural machinery business. Based on the bank's 90-day observation of catalysts for Sany Heavy Industry, it believes that the No. 1 document can be considered as an additional catalyst, reiterates a "buy" rating and sets a target price of 10.2 Hong Kong dollars.