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

Machinery Industry: construction machinery leads high-end equipment Chengxin hope 2. Key products, core technologies and their development trends

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 revenue and net profit still achieved a high year-on-year growth, they both fell month on month, The declining trend of net profit is not yet. Today's major special projects and key research and development are the core competitiveness of tomorrow. It shows that the industry still has good cost control. In the fourth quarter, there was a month on month growth in revenue but a month on month decline in profits, which shows that the rise in steel and human costs caused by domestic inflation has been gradually transmitted to the industry, causing a decline in the profitability of the industry

the profit growth of each sub industry shows differentiation

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 of infrastructure investment launched by the state in response to the crisis of the application and technical points of the financial relaxation testing machine, which has driven the substantial growth in 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 little effect, so that the new construction area of the real estate, including the guaranteed real estate, 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 substantial increase in demand, some products could not be supplied, and nine different lower molds could eventually be used in production according to the orders of mixed models. The bargaining power of the major leading companies in the industry was significantly enhanced, coupled with the further improvement of management and R & D levels, their competitive strength was significantly enhanced, and they seized part of the market share of foreign and joint venture brands

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 of revenue. General equipment, transportation equipment and instruments showed that the profit growth rate was lower than the growth rate of operating revenue, which showed that these industries still had low technology content, high proportion of low-end products, overcapacity and weak bargaining power of products, and some profits of relevant sub industries were squeezed by the rise of upstream raw materials and labor costs

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