In the evening of July 30th, domestic excavator company Sany disclosed its first half of 2018 performance forecast, the company is expected to belong to the parent company's shareholder's net profit (hereinafter referred to as "net profit") 3 billion 248 million yuan to 3 billion 596 million yuan, an increase of 180% to 210% over the same period.
In fact, in addition to Sany, 3 other major companies in the excavator industry announced the first half of the first half of the year, with a forecast of 1 billion to 1 billion 150 million yuan in the first half of this year, an increase of 81.72%-108.97% in the first half of this year, while Liugong is expected to achieve a net profit of 533 million to 6.63 in the first half of this year. After 2011, the net profit of Shanhe Smart surpassed 200 million yuan again, an increase of 230% - 280%.
China Engineering Machinery Industry Association excavator branch industry statistics showed that after the explosion in 2017, the sales of excavators in the first half of 2018 had maintained a growth trend, and the total number of 25 mainframe manufacturing enterprises included in the sub session was 120123, close to the historical extremes of 2011 (125831), and reached second high sales in the same period of history. In 2017, it was up 60% over the same period. Specific to a single month of sales, if not the Spring Festival factor in February this year superposition of last year's February switch cycle start, the whole of the first half of 2018 will continue to grow at least 50% of the year of 2017.
Sales of excavators in the first half of 2017-2018 years
Generally speaking, the boom of the excavator industry is closely related to the downstream real estate industry and infrastructure projects. With the rapid growth of the excavator industry last year and a high base, the driving force for the sustained growth of the industry this year seems to have a greater relationship with the downstream real estate industry. The National Bureau of statistics showed that the growth of capital construction investment in the first half of 2018 reached 7.3%, compared with the level of 21.1% in the same period of last year, the decline was very obvious; the growth rate of real estate investment was better, the nominal growth was 9.7% in the first half of the year, and it maintained more than 9% growth since the beginning of the year, obviously higher than 7% of last year. Growth.
As for the continuous fire in the excavator industry, a researcher of securities dealers said that excavators play a more and more important role in many fields of new rural construction in the context of Rural Revitalization. The replacement of previous labor force by excavators is becoming more and more popular, which has become the main driving force for the continuous growth of the sales of excavators. One of. Sany also made clear in its performance forecast that the first half of the company's growth has benefited from the artificial substitution effect.
In addition, the replacement demand of the industry itself can not be ignored.
Generally, the replacement cycle of the excavator industry is approximately 8 years. Considering the peak of the top wheel sales peak in 2011, the industry is at the peak of the plane, and the national emission standards for excavators have been three standards, and the country's four emission standards will be introduced in the future. The update is released again.
In July 23rd, the standing meeting of the State Council, when deploying the policy of the second half of the year, pointed out that more active fiscal policies would be adopted and the monetary policy began to be finely tuned to neutral. As the most direct beneficiary of infrastructure investment, the follow-up performance probability of the main excavator-related listed companies will continue to grow, which deserves investors'attention.
