The latest Chinese machinery and equipment manufacturing performance showing a booming trend, but in general the traditional product competition has been very intense, with larger investment in the future value of the company should be those high-tech, high value-added manufacturer.
Recently, the National Development and Reform Commission Economic Operations Bureau released the latest machinery equipment manufacturing report. The report shows that by 2006 10 months, the industry's main business income of 4.27 trillion yuan, an increase of 30.2%, an increase of 9.2 percentage points; total profit of 230 billion yuan, an increase of 41.7%, up 39.6 percentage points from a year earlier . The report believes that in 2007 China's machinery industry still has ample room for development.
Export growth rate higher than imports
According to the report of the Economic Operation Bureau of the National Development and Reform Commission, the total output value of China's machinery industry totaled 5 trillion yuan in the first 11 months of 2006, a year-on-year increase of 29.4%, an increase of 8.2 percentage points, and an industrial added value of 1.26 trillion yuan, an increase of 21.3%. , increase by 7 percentage points; cumulative production and sales rate of 97.29%.
Among the 95 major products in the statistics, three-quarters of the products achieved double-digit growth. 6.66 million vehicles, an increase of 26.1% year-on-year, including 3.56 million cars, an increase of 40.3%; generating equipment 103.23 million kilowatts, an increase of 30.8%; metal cutting machine tools 510,000 units, an increase of 13.9%, 77,000 CNC machine tools, an increase of 30.8% The oil refining and petrochemical special equipment was 340,000 tons, an increase of 59.9%.
In addition, the growth rate of exports was higher than that of imports, and the trade deficit gradually narrowed. In the first 10 months of 2006, the machinery industry exported 115.8 billion U.S. dollars, an increase of 36.8%; imports were 115.9 billion U.S. dollars, an increase of 21%; the cumulative trade deficit was only 130 million U.S. dollars, a decrease of 11 billion U.S. dollars from the same period of 2005, and the import and export balance was basically balanced.
High technical content space
As the country’s policy of revitalizing the equipment manufacturing industry has been gradually promoted, the development of the equipment manufacturing industry has received key support. However, due to the low level of technology in some fields of China's equipment manufacturing industry, equipment for some major construction projects still has to rely on foreign imports, thus putting forward urgent requirements for equipment manufacturing industry to accelerate technological innovation and structural upgrading.
Therefore, the report of the National Development and Reform Commission pointed out that with the continuous increase in market demand, the equipment manufacturing industry will have ample room for development in 2007, but the "structured surplus" supply and demand will continue to exist for a long period of time. In the coming period, although there will be a certain increase in the demand for traditional products in general, the competition will be fierce; the demand for major technological equipment with high technological content and high added value will grow rapidly.
CITIC Securities analysts believe that in the future, a large number of foreign project contracting and its own competitiveness will boost the high growth of domestic equipment exports. The export of domestic equipment will not only increase a piece of export revenue, but more importantly, it will release some of the domestic production capacity to make supply and demand more relevant. Balance, industry cycle fluctuations tend to weaken; In addition, the national economy's industrial and technological upgrading will bring five to 10 years of golden development period for the machinery and equipment industry. The Orient Securities Analysis Report also believes that the new construction projects will bring high growth to the construction machinery industry, and the replacement of imported space will open opportunities for high-precision CNC machine tools, and investment promotion will also provide development opportunities for railway equipment.
Frustrated raw material prices rise
At present, investment in the machinery industry has grown rapidly, and overcapacity has gradually emerged. From January to November 2006, investment in fixed assets of general equipment manufacturing, electrical machinery and equipment manufacturing, special equipment manufacturing, instrumentation, and cultural office machinery manufacturing increased by 55.6%, 52.2%, 40.6%, and 35.1%, respectively. Moreover, with the intensified market competition in the machinery industry and the shrinking of corporate profits, revenue growth in many industries is generally lower than the sales level.
The NDRC's analysis of the industry development in 2007 pointed out that overcapacity and industrial restructuring will have a certain impact on the market demand for some mechanical products; in particular, rising prices of upstream energy raw materials and transportation costs will directly affect the economic benefits of the machinery industry. , Such as copper, aluminum, high-quality special steel and other raw materials to run high so that business costs increase. In addition, the rise of international trade protectionism and the slowdown in the growth of investment in fixed assets caused by macro-control will have a certain impact on the development of the machinery industry.
Recently, the National Development and Reform Commission Economic Operations Bureau released the latest machinery equipment manufacturing report. The report shows that by 2006 10 months, the industry's main business income of 4.27 trillion yuan, an increase of 30.2%, an increase of 9.2 percentage points; total profit of 230 billion yuan, an increase of 41.7%, up 39.6 percentage points from a year earlier . The report believes that in 2007 China's machinery industry still has ample room for development.
Export growth rate higher than imports
According to the report of the Economic Operation Bureau of the National Development and Reform Commission, the total output value of China's machinery industry totaled 5 trillion yuan in the first 11 months of 2006, a year-on-year increase of 29.4%, an increase of 8.2 percentage points, and an industrial added value of 1.26 trillion yuan, an increase of 21.3%. , increase by 7 percentage points; cumulative production and sales rate of 97.29%.
Among the 95 major products in the statistics, three-quarters of the products achieved double-digit growth. 6.66 million vehicles, an increase of 26.1% year-on-year, including 3.56 million cars, an increase of 40.3%; generating equipment 103.23 million kilowatts, an increase of 30.8%; metal cutting machine tools 510,000 units, an increase of 13.9%, 77,000 CNC machine tools, an increase of 30.8% The oil refining and petrochemical special equipment was 340,000 tons, an increase of 59.9%.
In addition, the growth rate of exports was higher than that of imports, and the trade deficit gradually narrowed. In the first 10 months of 2006, the machinery industry exported 115.8 billion U.S. dollars, an increase of 36.8%; imports were 115.9 billion U.S. dollars, an increase of 21%; the cumulative trade deficit was only 130 million U.S. dollars, a decrease of 11 billion U.S. dollars from the same period of 2005, and the import and export balance was basically balanced.
High technical content space
As the country’s policy of revitalizing the equipment manufacturing industry has been gradually promoted, the development of the equipment manufacturing industry has received key support. However, due to the low level of technology in some fields of China's equipment manufacturing industry, equipment for some major construction projects still has to rely on foreign imports, thus putting forward urgent requirements for equipment manufacturing industry to accelerate technological innovation and structural upgrading.
Therefore, the report of the National Development and Reform Commission pointed out that with the continuous increase in market demand, the equipment manufacturing industry will have ample room for development in 2007, but the "structured surplus" supply and demand will continue to exist for a long period of time. In the coming period, although there will be a certain increase in the demand for traditional products in general, the competition will be fierce; the demand for major technological equipment with high technological content and high added value will grow rapidly.
CITIC Securities analysts believe that in the future, a large number of foreign project contracting and its own competitiveness will boost the high growth of domestic equipment exports. The export of domestic equipment will not only increase a piece of export revenue, but more importantly, it will release some of the domestic production capacity to make supply and demand more relevant. Balance, industry cycle fluctuations tend to weaken; In addition, the national economy's industrial and technological upgrading will bring five to 10 years of golden development period for the machinery and equipment industry. The Orient Securities Analysis Report also believes that the new construction projects will bring high growth to the construction machinery industry, and the replacement of imported space will open opportunities for high-precision CNC machine tools, and investment promotion will also provide development opportunities for railway equipment.
Frustrated raw material prices rise
At present, investment in the machinery industry has grown rapidly, and overcapacity has gradually emerged. From January to November 2006, investment in fixed assets of general equipment manufacturing, electrical machinery and equipment manufacturing, special equipment manufacturing, instrumentation, and cultural office machinery manufacturing increased by 55.6%, 52.2%, 40.6%, and 35.1%, respectively. Moreover, with the intensified market competition in the machinery industry and the shrinking of corporate profits, revenue growth in many industries is generally lower than the sales level.
The NDRC's analysis of the industry development in 2007 pointed out that overcapacity and industrial restructuring will have a certain impact on the market demand for some mechanical products; in particular, rising prices of upstream energy raw materials and transportation costs will directly affect the economic benefits of the machinery industry. , Such as copper, aluminum, high-quality special steel and other raw materials to run high so that business costs increase. In addition, the rise of international trade protectionism and the slowdown in the growth of investment in fixed assets caused by macro-control will have a certain impact on the development of the machinery industry.
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