Three main reasons for construction machinery "is not short off-season"
The industry believes that, due to the low base last year, the rapid demand and exports, construction machinery industry in the third quarter would "not short off-season" performance appears unexpected growth, but growth rate will drop slightly in the fourth quarter.
October 12, Sany Heavy Industry (Information Quotes Forum) (600 031) Notice the first three quarters the company expects net profit up over 100%; Changlin (Information Quotes Forum) (600,710) are expected third-quarter net profit an increase of more than 300%.
Unexpected results
"Originally, construction machinery industry is expected in the third quarter results will be affected," Kun Yao GF Securities researcher told reporters, "but that in August statistics, we found that macro-control has not changed the trend of rapid growth of the industry."
Dong-Sheng Huang Changjiang Securities, said researchers, the products, mainly concentrated in the first half of the procurement, engineering machinery industry generally in the third and fourth quarters in the off-season. April began with trying to control the macro-control of fixed assets investment growth, general industry machinery industry is expected to increase three-quarter will not be great. "The reality clearly exceeded expectations," Dong-Sheng Huang said.
Guoxin Securities researcher Yu Aibin said the latest study completed, the reality is: the first 8 months, the construction machinery industry total sales revenue and gross profit increased by 34.99%, respectively and 118%, and higher than the former in July and the first 6 months of growth speed.
Notice from the performance of listed companies also can be seen as: information, according to Wind Statistics, as of yesterday, the Shanghai and Shenzhen has released a total of 18 third-quarter results related notice, of which nine pre-growth, three losses, four continued losses, 2 Pre-cut.
Three main reasons for creating
The industry believes that the low base last year, the rapid demand and exports are the main reasons for unexpected results.
Sany Heavy Industry to chapter secretaries to directorate Zhao said the company's third quarter results mainly due to rapid growth in product sales led significant growth year on year, exports grew rapidly and new products become a new profit growth point.
Yao Kun that the macro-control in 2004 not this year, so "moderate", leading the industry in trouble, so the overall total profit last year, at the bottom. After the upturn this year, the results for the natural emergence of the "explosive" growth.
Galaxy Securities researcher Yong Sun said that this year is the "Eleventh Five-Year Plan" of the first year of the new rural construction, urban infrastructure construction for construction machinery driving the demand, so many companies now have "full order." Sun Yong argue that due to the lag effect of the macro-control has little effect on third quarter results, "the fastest show in the fourth quarter results." Moreover, the "road infrastructure construction is rigid targets, not down." Yao Kun also believes that the macro-control "has to maintain pressure", mainly for industry overcapacity, the current demand for construction machinery industry has not been a large hard effects.
Yao Kun, said macro-control since 2004, class of construction machinery industry has to deal with one after another through the expansion of export fluctuations in domestic demand. Sun Yong said, export earnings increased by Sany the first half of 148.22%, export share of total revenue is increasing.
According to statistics, construction machinery industry in the first quarter export growth rate reached 38%. Industry forecast export growth next few years will be maintained at 30%.
Sun Yong and Yao Kun view that, since the fourth quarter is traditionally the low season, the performance of construction machinery industry will maintain a certain growth, but growth will decline.
I am an expert from chinadrillingequipment.com, while we provides the quality product, such as china Multifunctional Drilling Rig , TG40 Diaphragm Wall Equipment, core drilling,and more.
Processing your request, Please wait....
