M Idea China Industrials | Asia Pacific October 7, 2024 08:00 PM GMT 3Q24 Preview – Transportation Equipment We expect railway equipment earnings to be in line with consensus, with steady revenue and NP growth from ongoing MU delivery and solid maintenance. HDT players' results are likely to be weak, with muted industry demand and margin pressure from product mix, but should improve q-q in 4Q. Heavy-duty trucks Weak 3Q earnings given domestic demand softness and fading LNG HDT momentum: 3Q HDT sales turned ...