[Special Stock] Hyundai Doosan Infracore Rises on News of China's 2,339 Trillion Infrastructure Investment

Hyundai Doosan Infracore is showing strong performance. It is interpreted to be influenced by the news that China will invest 2,339 trillion won in infrastructure to stimulate the economy.

As of 10:06 AM on the 12th, Hyundai Doosan Infracore is trading at 8,350 won, up 10.61% compared to the previous day.

According to foreign media, China is investing 12.2 trillion yuan (approximately 2,339 trillion won) in infrastructure this year to boost the economy. This is about a 17% increase compared to last year. The infrastructure investment targets include transportation, energy power facilities, and industrial complexes.

The expansion of China's infrastructure investment can also be seen in the recent construction boom. According to the China Federation of Logistics & Purchasing, as of the end of March, the China Construction Business Activity Index was 65.6, a significant rise compared to 54.4 at the end of December last year. This index was 60.2 at the end of September last year and 52.2 at the end of May.

Meanwhile, HD Hyundai Infracore, which recently changed its company name, has introduced a new construction equipment brand called 'DEVELON' in China. According to the industry, HD Hyundai Infracore unveiled about 40 types of equipment, including excavators and wheel loaders ranging from 6 to 100 tons, as well as automobile dismantling equipment.

HD Hyundai Infracore established its Chinese subsidiary in Yantai in October 1994 and completed an excavator factory in 1996. In September 2020, it achieved a milestone of producing 200,000 units cumulatively.