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2022-08-14
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Machinery industry: construction machinery leads high-end equipment Chengxin hope

Machinery Industry: construction machinery leads high-end equipment Chengxin hope

China Construction machinery information

Guide: as of April 25, 153 listed machinery companies that have published their 2010 annual reports have achieved a total main revenue of 554.316 billion yuan, an increase of 37.59% year-on-year; The total net profit attributable to shareholders of the parent company was 41.703 billion yuan, an increase of 53.35% year-on-year. Among the 153 listed companies with machinery, 5 have lost money, and their performance

as of April 25, 153 listed machinery companies that have published their 2010 annual reports have achieved a total main revenue of 554.316 billion yuan, an increase of 37.59% year-on-year; The total net profit attributable to shareholders of the parent company was 41.703 billion yuan, an increase of 53.35% year-on-year. Among the 153 listed companies with machinery, 5 suffered losses, and 33 suffered year-on-year decline in performance

from the situation of each sub industry of machinery, the growth rate of operating revenue and net profit of construction machinery is far higher than that of other sub industries, and it has become the leader of industry growth. The compound growth rate during the "12th Five Year Plan" period can still reach about 20%. As one of the seven strategic emerging industries in the 12th Five Year Plan, the high-end equipment manufacturing industry will receive key policy support and is expected to become the main force in the development of the machinery industry in the future

profitability has been significantly enhanced, and the impact of inflation is becoming obvious.

overall, the profitability of the machinery industry has been significantly improved, which is reflected in two aspects: first, the return on net assets increased from 14.05% in 2009 to 15.53%, and the return on total assets increased from 5.23% in 2009 to 6.49%; Second, the growth rate of the industry's net profit was faster than the growth rate of operating income, mainly because the price of raw materials such as steel remained basically stable and the price increased, which increased the annual gross profit margin from 19.21% to 20.56%, an increase of 1.35 percentage points. Among the three period expenses, the management expense rate decreased significantly, decreased by 0.52 percentage points in 2010 compared with 2009, and the improvement of management efficiency also enhanced the profitability of the industry

from the change trend of the industry's single quarter operating revenue and net profit, due to the high year-on-year growth rate in the second quarter of 2010, the net profit in the second quarter reached the peak of the whole year. In the third quarter, due to the off-season, although the operating research results showed that the identification revenue and net profit of the analysis and detection system for recycled polypropylene and recycled polyethylene still achieved high growth compared with the same period, but both fell compared with the same period, The downward trend of net profit is not very obvious, which shows that the industry still has good cost control. In the fourth quarter, there was a month on month increase in revenue but a month on month decrease in profit, which shows that the rise in steel and labor costs caused by domestic inflation has been gradually transmitted to the industry, and caused a decline in the profitability of the industry

the profit growth of each sub industry is differentiated

from the perspective of the year-on-year growth rate of the operating revenue and net profit of each sub industry of machinery in 2010, the growth rate of the operating revenue and net profit of construction machinery has reached 58.64% and 119.11% respectively, which is far faster than that of other sub industries, and has exceeded the general expectation of the market, becoming the leader of the industry growth. The main reason for its growth is the 4trillion yuan infrastructure investment launched by the state in response to the financial crisis, It has stimulated the substantial growth of the demand for construction machinery. At the same time, although the state has issued a number of policies to regulate the real estate, it has achieved little effect, so that the new construction area of real estate, including affordable housing, remains high. In addition, the growth rate of the net profit of the construction machinery sub industry far exceeded the growth of revenue, mainly due to the sharp increase in demand, which made some products in short supply. The bargaining power of the main leading companies in the industry was significantly enhanced, coupled with the further improvement of management and R & D levels, the competitive strength was significantly enhanced, and the market share of foreign and joint venture brands was seized

the professional equipment sub industry also has a higher growth rate in the industry, with the growth rate of operating revenue and net profit reaching 28.41% and 59.75% respectively, and the growth rate of net profit is also significantly faster than that, but it is unlikely that flexible packaging materials can be directly replaced with recycled cardboard. General equipment, transportation equipment and instruments showed that the profit growth rate was lower than the growth rate of operating revenue, indicating that these industries still have low technology content, high proportion of low-end products, overcapacity, corrosion resistance and weak bargaining power of products. Affected by the rise of upstream raw materials and labor costs, some profits of gold wire industry with sample size as small as 0006mm in diameter were squeezed by the relevant subsidiaries

During the 12th Five Year Plan period, railway, water conservancy construction, affordable housing construction and regional revitalization will become important driving forces to drive the growth of fixed asset investment. At the same time, with the rapid rise of human costs, the replacement of labor by machinery will become the development trend of the manufacturing industry. Therefore, we believe that the machinery industry will continue to maintain stable growth, However, the growth rate will slow down compared with the growth rate recovering from the industry trough after the financial crisis

as the first year of the 12th Five Year Plan, the economic situation in 2011 is relatively complex. On the one hand, there are still many new projects to maintain growth, on the other hand, in order to control inflation, the country continues to adopt tight monetary policies. With the continuous rise of interest rates and reserve ratios, the financing difficulties and financing costs of enterprises have increased significantly, which will affect the profitability of the industry to a certain extent, The rise of raw materials and labor costs in the upstream will also affect the profitability of the industry to a certain extent

we predict that in the process of urbanization, the construction machinery industry will still become the sub industry that benefits the most from the growth of fixed asset investment. At the same time, with the determination of leading companies in the industry to enter overseas markets, the compound growth rate of the industry during the "12th Five Year plan" period can still reach about 20%. As one of the seven strategic emerging industries in the 12th Five Year Plan, the high-end equipment manufacturing industry is the foundation and core of the other six industries, and will receive key policy support. The recently released "12th Five Year Plan" for the machinery industry clearly stipulates that the growth rate of high-end equipment should be twice the average growth rate of the industry, and the compound growth rate is expected to reach about 25%. The plan also proposes that the localization rate of high-end equipment should be significantly increased, and the bottleneck of key components that restrict the development of high-end equipment should be alleviated, including high-speed rail, aerospace equipment, marine engineering equipment The high-end equipment manufacturing industry represented by high-end CNC machine tools and core basic components will usher in major development opportunities. With the gradual introduction, digestion, absorption and independent innovation of relevant technologies, it will become the main force for the development of the machinery industry in the future

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