It was supposed to be the off-season of traditional construction machinery, but now it is not off-season, and sales of excavators increased sharply in June.
According to the latest statistics from China Construction Machinery Industry Association, the 25 excavator manufacturers included in the statistics in June 2020 sold 24,625 excavators of various types, a year-on-year increase of 62.9%; among them, 21,724 were domestic, a year-on-year increase of 74.8%; exported 2,901 units , An increase of 7.64% year-on-year.
In the first June, the above companies sold 170,425 excavators, a year-on-year increase of 24.2%; among them, domestic 155,893 units, a year-on-year increase of 24.8%; exports 14,532 units, a year-on-year increase of 17.8%.
Excavator sales have always been regarded as a weather vane and economic barometer for the construction machinery industry. It can be seen from the above data that my country's economy is accelerating its recovery.
Small digging sales growth rate first, bringing new trends
Looking at the data released by the China Construction Machinery Industry Association in detail, it is found that in terms of tonnage in the domestic market, domestic sales of large, medium and small excavators increased by 62.1%, 74.4%, and 78.7% respectively in June, accounting for 15.4% and 25.8% respectively. , 58.8%. Judging from the sales structure of excavators in June, the year-on-year growth rate of sales of small excavators was higher than that of medium excavators and large excavators.
Industry experts believe that the double benefits of faster resumption of small projects such as old reforms and rural construction, as well as the acceleration of construction of new energy charging piles and 5G base stations, have greatly boosted the demand for small excavators.
According to the author's understanding, the "new infrastructure" project has stimulated the demand for small excavators more than the opportunities brought by the "shortcomings" of rural infrastructure and public services.
Take Jiangsu Province as an example. Previously, Jiangsu has formulated policy opinions on accelerating the promotion of digital “new infrastructure” to expand information consumption and supporting the development of 5G networks, and proposed that it will accelerate the construction of new infrastructure such as 5G, big data centers, and new energy vehicle charging piles. 5G base stations were newly built in 5G every year, and the corresponding investment was 12.7 billion yuan.
The actions of Jiangsu Province are not just a case. In other provinces, excavators are also frequently “moving” to catch up.
As the traditional downstream demand areas such as real estate and mining, in the first half of 2020, the national railway fixed asset investment completed 325.8 billion yuan, exceeding 3.8 billion yuan in the same period last year, an increase of 1.2% year-on-year. This also presses the "fast forward button" for the sales of large and medium-sized excavators.
But industry analysts still believe that "new infrastructure" will not only bring strong demand for products, but also reshape the product layout of the construction machinery industry. For a long time in the future, small excavators will continue to lead the market.
Zou Runfang, an analyst at Tianfeng Securities (601162), said that, in particular, new infrastructure such as 5G base stations, UHV, rail transit and other new technologies and new technologies as the main direction, and the investment in advanced manufacturing-based industrial fields, let The construction machinery industry has truly started a new round of take-off.
It is worth noting that recent floods have been severe in some areas of my country. Vice Minister of Water Resources Ye Jianchun stated at a recent State Council policy briefing that the Ministry of Water Resources will step up the construction of the 150 major water conservancy projects deployed by the State Council to promote the expansion of effective investment and enhance the ability to prevent floods and droughts. Arrange for the construction of 150 major water conservancy projects this year and in the future. The total project investment is about 1.29 trillion yuan, which can drive direct and indirect investment of about 6.6 trillion yuan.
The smooth construction of a large number of water conservancy projects should drive continuous demand for terminal machinery, which brings good news for construction machinery in July.
Strong increase in share, domestic leaders move frequently
It can also be found from the data released by the association that the concentration of domestic brands continues to increase, and the strong are always strong. From the perspective of brand distribution, in June, the overall sales of SANY excavators increased by 68.4% year-on-year, with a market share of 25.3%, still leading the industry. XCMG's June sales increased by 53.2%, and its market share was 14%, ranking second. Caterpillar's June sales increased by 28% and its market share was 11.2%. Liugong (000528) has a sales growth rate of 84% and a market share of 7.1%. Shandong Lingong's sales growth rate was 142%, and its market share was 9.7%.
From the perspective of sales volume, the market share of domestic brands in the first half of 2020 has exceeded 70%. With technological advantages, excellent supply chain systems, rapid market response capabilities, and more flexible sales methods, leading domestic companies have once again increased market concentration, and the share of domestic brands will continue to increase in the future.
Following the general price increase of products by construction machinery companies, many leading companies have also made frequent moves in recent times and have successively announced new development plans to lay a solid foundation for subsequent development.
Xugong Machinery (000425) announced on June 29 that the company's controlling shareholder Xugong Group Construction Machinery Co., Ltd. (hereinafter referred to as Xugong Co., Ltd.) has publicly listed the capital increase project involved in the mixed ownership reform on the Jiangsu Provincial Equity Exchange. XCMG plans to raise a total of 15.656 billion yuan from strategic investors and employee shareholding platforms for this mixed reform for industrial transformation and upgrading and international expansion.
On June 30, Sany Heavy Industry announced that it planned to acquire a 91.43% stake in Sany Auto Finance Co., Ltd. held by the controlling shareholder Sany Group for 3.38 billion yuan. This matter has been approved by the Hunan Banking and Insurance Regulatory Bureau.
On July 5, Zoomlion (000157) issued an announcement stating that the company intends to raise funds not exceeding 6.6 billion yuan through non-public issuance of shares, of which 2.4 billion yuan will be used for mining machinery intelligent manufacturing projects, and the remaining funds will be used for mixing Intelligent manufacturing upgrade of vehicle products, intelligent manufacturing of key components, intelligent manufacturing of key hydraulic components (hydraulic valves) and other projects.
According to the prediction of relevant personnel of China International Finance Securities, the interim performance of the leading construction machinery will increase significantly year-on-year.
Sales of excavators in July still maintained a rapid year-on-year growth. It is initially expected that the sales growth of excavators in July will exceed 60%. The sales of excavators for the year are expected to be close to 300,000 units, and the sales growth for the year is expected to exceed 25%.
