On September 1, the construction machinery sector rose sharply against the trend. In terms of individual stocks, individual stocks in the sector generally rose. As of press time, Xiamen Construction Machinery Co., Ltd. (600815) and XCMG machinery (000425) were closed, Zoomlion (000157) increased by 9.52%, industry leader Sany Heavy industry (600031) increased by 8.27%, and construction machinery (600984), Shanhe intelligent (002097) and other stocks also rose one after another.
Outstanding industry performance
The construction machinery sector is red across the board
In the first half of 2021, most listed construction machinery enterprises achieved brilliant results and achieved "double growth" in business and net profit. For example, on August 30, XCMG disclosed its 2021 semi annual report. During the reporting period, the company achieved an operating revenue of 53.234 billion yuan, a year-on-year increase of 51.80%; The net profit attributable to shareholders of listed companies was 3.803 billion yuan, a year-on-year increase of 84.46%. Sany Heavy Industry, the industry leader, released the semi annual report of 2021 on August 30. During the reporting period, the company achieved an operating revenue of 67.128 billion yuan, a year-on-year increase of 36.47%; The net profit attributable to shareholders of listed companies was 10.074 billion yuan, a year-on-year increase of 17.16%; The net cash flow from operating activities was RMB 9.788 billion, a year-on-year increase of 35.75%.
Construction machinery enterprises performed well in the first half of the year
Construction machinery enterprises have a bright performance in the first half of 2021
Recent frequent changes of individual stocks in infrastructure related sectors
The prosperity of traditional infrastructure investment will be significantly improved in the second half of the year
It is worth noting that there have been collective changes in individual stocks in infrastructure related sectors recently. Steel, cement and construction machinery all rose yesterday. Today, cement, building materials and construction machinery also rose collectively.
At present, infrastructure investment is obviously picking up. When the downward pressure on the economy increased, the construction PMI and new orders of the construction PMI rebounded in August.
The research report released by the macro team of Industrial Securities pointed out that this coincided with the tightening of real estate policy, and the real estate sales and land market became colder in August. The Societe Generale Securities team believes that this shows that the rebound in the construction industry is not driven by real estate, but by the acceleration of infrastructure investment adjusted against the cycle.
On August 31, steel, cement and construction machinery rose together
On August 31, steel, cement and construction machinery rose together
Coincidentally, Air China Securities pointed out that the data released by the Ministry of Finance showed that as of the end of July 2021, local governments across the country had issued special bonds of 1.35 trillion yuan. According to this year's government work report, 3.65 trillion yuan of local government special bonds have been added this year, and 2.3 trillion yuan of special bonds have not been issued, accounting for 63%, and will be mainly used in the field of infrastructure construction. From the perspective of overall macroeconomic regulation and control, Guohai Securities expects that infrastructure investment will maintain a good growth in the second half of the year.
