The construction machinery sector, which is repeatedly worried by the market, is still going to be full of peach blossoms?
In 2018, the construction machinery sector was constantly pessimistic, switching back and forth with the expected data display, so that most investors love and hate it. This is not the last time in May excavator data once again broke the pessimism of the market, and one of the main reasons for the reversal is from the most neglected infrastructure sector.
May figures that bring surprises again
The sales volume of excavators once again exceeded market expectations, and the strong momentum of the big dig is even more prominent. The latest data showed that the latest data showed that May 2018, excavator sales reached 19313 units, a significant increase of 71.35% over the same year. In terms of products, the growth rate of large and medium dug sales was significantly higher than that of small digs. It is understood that in May, the sales of 30t have reached 2435, 59.7% compared with the same period, and the sales volume of medium dug (20-30t) increased 90. over the same period. 3% to 5012 units, small dig (20t below) sales grew 63.3% to 10333.
Besides excavators, the sales volume of other construction machinery also showed a sharp rise. In April, the sales of loaders, graders, bulldozers, road presses and truck cranes reached 11836, 611, 989, 2767 and 3121, respectively, and increased by 40.32%, 36.08%, 43.38%, 27.10% and 70.27% respectively, and the field of engineering machinery presented a flourishing scene.
Why can engineering machinery data be more than expected?
A large part of the credit for construction machinery, especially in medium excavators, is expected to be counted in the field of infrastructure. In terms of the infrastructure sector, the infrastructure investment growth will be slowed down in 2018, despite the financial deleveraging and strict control of local government debt. However, in order to play the role of 6.5% to the GDP growth rate, the downlink space of infrastructure growth is relatively limited, especially the growth rate of 7.9% of the fixed assets investment in the month of 2018 and the growth rate of 16.1% of infrastructure investment, which still indicates the necessity and importance of infrastructure investment to the stability of the national economy.
Moreover, from the planning level, the planned completion volume of the road transport industry in 2018 was not significantly different from that of the early 2017. According to the three year action plan for the construction of major transportation infrastructure projects, it is known that the 2016-2018 years will focus on 303 projects such as railway, highway, waterway, airport and urban rail, involving a total investment of about 4 trillion and 700 billion yuan, which lays the foundation for the high operation of traffic infrastructure in the last three years.
Among them, there were 13 highway projects in 2018, which were basically flat in 2017, involving 200 billion yuan in investment and 26 billion 156 million yuan higher than in 2017. The two sessions' work report also pointed out that in 2018, China planned to invest about 1 trillion and 800 billion yuan in highway and waterway traffic construction, which was the same as last year's plan.
From the first line of the transaction data, in 2018, in the source of the dealer order, the first is the municipal engineering, followed by highway construction, new rural construction, mine construction, real estate construction. At the same time, according to the industry professionals, in the main activities of the Southern China area, the new construction of highways, railways and other large-scale projects in 2018 have increased significantly compared with the previous years.
Because different engineering conditions require different types of excavators, railway, highway, airport and other basic equipment have driven the demand of large equipment, and township construction is the demand for mini type and small equipment. This is why the field of construction machinery can frequently bring surprises to the market, and the performance of large and medium excavators is even more eye-catching.
You know, in May, sales of large excavators were still suppressed. It is understood that, due to the shortage of part of the parts supply, some big dug enterprises have been out of stock. However, there is no obvious decline in the opening rate at present, which means that the market demand has not yet been truly reflected.
However, it will not only increase the profitability of construction machinery companies before they break.
The point of concern is not limited to this
In the trend of environmental protection, the demand for renewal cycle of construction machinery is expanding. In order to respond to the target of "energy saving and emission reduction, green manufacturing", some equipment that do not meet the environmental standards will also be withdrawn from the market. For example, the Ministry of environmental protection (Ministry of environmental protection), in 2016, made it clear that, since April 1, 2016, the non - road mobile machinery, which is not in line with the third phase of the state, is not available for sale, that is, the "two stage equipment in the country is facing a full delisting".
From the latest first line market situation, the current two mobile phone market resources are seriously inadequate, and affected by the national environmental protection policy, the more polluted direct injection model can not enter China, resulting in the change of two mobile phone customers directly to the demand for new machine.
The overseas demand market changes that have been mentioned many times by Chi Tong finance have been confirmed again in this data. It is understood that, as the 64 countries along the road along the road include 17 less developed southeast Asian countries, including India and other countries, their infrastructure construction is relatively backward, which will bring small incremental demand for the construction machinery.
In the latest May data, the growth rate of overseas exports is more bright than that in China, and the export of all kinds of excavators has reached 15123, which has increased by 95.3% over the same period, which is significantly higher than the growth rate of 69.6% in China.
Moreover, the risks of leading enterprises are also under constant control. Compared with the rapid accumulation of risk in the previous capacity expansion cycle, Zhitong Caijing has learned that the leading enterprises, who have experienced a great deal of hard work to remove the risk factors, still put the risk precautions in an important position after the return to the high profit period, reducing the proportion of credit sales down payment and extending the repayment period to attract customers. It didn't appear.
For example, in the latest sales data of a domestic leading enterprise, its total sales proportion has been close to 20%, far higher than the previous year's level, more than 30% of the high first pay ratio also reached 40%, that is, high quality transactions accounted for 60%-70%.
Therefore, the best engineering mechanical mark of Hong Kong shares, which has been mentioned before, has been mentioned by Caijing, China. As far as the current market situation is concerned, the sales of construction machinery in the second half of 2018 can still bring about surprises. At this time, the Chinese dragon workers are of great concern.
