Railway equipment: this year, the railway infrastructure investment at the end of July, the second increase was. According to the 2012 third railway construction bond prospectus said a total of 150 billion yuan in railway bonds in issue, and the second raised total size of the 580 billion yuan of investment in fixed assets of the national railway, the railway infrastructure investment increased to 406 billion yuan from the beginning of the tune 470 billion yuan. This calculation, the first half of the infrastructure investment of 148.7 billion yuan investment in infrastructure in the second half of the year amounted to 321.3 billion yuan, a year-on-year increase of 47%. The railway industry as steady growth in the first starting point of the policy, the boom of the recovery. The railway fixed assets investment of 47.963 billion yuan in July, the year-on-year 8.26% for the first time after 15 months of negative growth reversal ring than -0.28% flat. Month renovation investment and locomotive purchase of 8.226 billion yuan, up 168.08% 68.88% MoM. Full year railway fixed assets investment to 580 billion ,8-December will invest 354.2 billion yuan, YOY34%, expected investment continues to grow in the second half of the year, good railway sector.

Train railway infrastructure, as a new start, gradually accelerated, and huge inertia, the railway sector is expected to become the second half of the highlights of the machinery industry. Configuration proposed railway equipment sector, high elasticity stocks: China Railway Bureau (in construction work), Jin billion industry, Jinxi Axle, Times New Materials; the performance expected better stocks: Northern Venture Jinxi Axle; undervalued is expected to repair stocks: China CNR, CSR.

Construction machinery: July excavator sales of 5886 units, -29% qoq, -23% yoy decline in sales in July, the most serious provinces of Inner Mongolia, Tianjin, Qinghai, MOM -62%, -59%, -49% . China's mainstream brand excavator operation rate of 46.9%, average daily working hours 5.84 hours, the operation rate and the product of the average daily working hours from April to July were 3.44,3.06,2.72,2.74 continuous decline in April-June, slightly over seasonal there is a rebound. July China's mainstream automobile crane boot was 75%, average daily working hours 6.61 hours ,4-operation rate of 83.3% in June, 77%, 79%, 4-June average daily working hours for 5.32,4.84,5.83 operation rate multiplied by the average daily working hours in two consecutive months in May, a record low after a rebound. Late in the project to use the truck crane use of improved return to work relatively good. 1 line cities in the third quarter of the amount of new housing starts may be a positive growth year-on-year, when the construction machinery sector investment mentality may be a slight improvement.

After the stoker :7-August for summer peak power generation in China, the demand for coal more prosperous coal prices stabilized since the mid-July, Qinhuangdao coal stocks fell a record 9.38 million tons of high inventory records inventory in mid-June Qinhuangdao Port, August 6 field all fell to 7.94 million tons. Although the recent typhoon and heavy rainfall go, rely on the normal operations of the Chinese coal ship and Fat Hong Kong ship adversely affected, but to boost coal prices. Transferred to the reduction in the amount of railway transportation of coal, coastal power plant stock not replenish, will reduce the pressure of a portion of the stored coal power plants, and Daqin line fall overhaul in September to start soon, overhaul positive rush to transport causes the former power plant purchases increased demand, coal prices will affect the stoker investment mentality short term stabilization, the coal feeder plate short-term is expected to rebound, and will depend late September and later coal demand and price changes.