2010 will usher in a golden age of machinery industry
2009 machinery industry profits are all sub-sectors to achieve positive growth, flexibility largest construction machinery becomes profitable Pioneer 1-November profit growth rate of 62 percent, better than expected; railway equipment industry chain has been growing steadily in 2010 is expected to meet to the golden age of the machinery industry, machinery industry is the increased demand, raw material price increases little better times, corporate profitability will quickly rebound. Data support our previous judgment, continue to focus on recommendation of construction machinery and railway equipment industry.
Jan-Nov machinery industry overall improved performance, all the sub-sectors have achieved positive growth in profits, including eight months ago is still the metal processing machinery and equipment of ships and floating negative growth. Cumulative profit growth accelerated machinery industry, where General Equipment cumulative profit grew by 16.3%, special equipment cumulative profit up 23.9%, up 9 percentage points and 12 percentage points respectively from January to August.
Three sub-sectors in the machinery industry, construction machinery and railway equipment industry profits rise fastest. January-November construction machinery accumulated profits surged 61.8 percent, compared with January-August increased by nearly 40 percentage points, 9-November revenue growth of 10%, a 36% increase QoQ profit for the sub-sector with the highest, it shows the building Flexible construction machinery industry profits. Railway equipment industry steadily recovering,9-November revenue and profit growth of 17% and 14%, 1-November revenue and profit growth reached 33%.
Aspect to the comparison shows that the construction machinery industry management efficiency significantly. Construction machinery industry machinery industry is the highest profit margins, strong profitability sub-sectors; longitudinal comparative historical data, engineering machinery now at historical average gross profit margin, while sales margins have returned to historic levels, indicating that due to the full competition in the market, the construction machinery industry innovation, and gradually improve the management level and efficiency.
Railway equipment industry revenue and earnings to grow steadily, management efficiency continued to improve. Jan-Nov railway equipment industry revenue and profit growth rate reached about 33%, due to rising raw material prices, the gross profit margin decreased significantly compared with a decrease of approximately 4.7 percentage points due to improved product mix, profitability is expected to improve in the future may exceed expectations.
Proper attention to the back end of the sub-sectors of economic recovery. In addition to ultra-expected growth in construction machinery and railway equipment determined, hardest hit by the financial crisis, metalworking machinery and shipbuilding industry performance also had initial improvement, profits rose from negative to positive. Relative to other sub-sectors, the crane industry is mediocre, the only profit decline in three sub-sectors.