SMEs see development
Although the three giants work hard, after all, there is still profit. Is the industry's second echelon and a large number of SMEs eating dry rice or drinking porridge, or can they only drink northwest wind?
How many companies are there in the construction machinery industry? No one can say clearly. There are more than 1,300 industrial enterprises above the size of the National Bureau of Statistics, and the number of members of the association is more than 2,000. Of course, the members of the association are not all enterprises in this industry, but also some upstream and downstream enterprises. How have these 1,000 companies been in recent years?
In addition to the three major listed companies, there are mainly 7 listed companies in the construction machinery industry, namely Shantui, Shanhe Intelligent, Hebei Xuanong, Xinzhu, Changlin, Anhui Heli, and Xiagong. This year, Hebei Xuangong has clearly announced the loss, and Changlin has not been decided yet. Xiamen Engineering Co., Ltd. suffered a loss in 2013 and is expected to turn a profit in 2014. However, according to its three quarterly report, it lost 100 million yuan from January to September. To achieve the 2014 profit, the task is very arduous. Although the remaining four are still profitable, the total profit is very low, which is not comparable to previous years. Shanhe Intelligent's net profit is only 6.9 million yuan, and Xinzhu Shares has just passed 10 million yuan. This profit is based on the revenue of 1.8 billion yuan and 1.2 billion yuan. It can be seen that even if these enterprises are profitable, the profit margin is very low, and both companies have less than one percentage point. If you think about it in 2011, the profit of Shanhe Intelligent once reached 200 million yuan, and Xinzhu shares also had 150 million yuan.
Among these companies, only Anhui Heli performed well. In 2014, it achieved consolidated operating income of 6.701 billion yuan, an increase of 2.25% year-on-year; and realized a net profit attributable to the owners of the parent company of 569 million yuan, an increase of 13.33% year-on-year. An important reason for this situation is that it mainly produces forklifts, and this construction machinery product has a relatively low dependence on infrastructure projects. In addition to its use in construction sites and factories, it is also widely used in recent years. The logistics, e-commerce and other industries that have rapidly risen in the past two years.
It is worth mentioning that the former ST heyday, after the reorganization of SINOMACH in 2011, its "Tiangong" grader is still active in the market. In 2014, its sales of more than 400 graders. Since the main business of SINOMACH is mainly in the automobile trade, it is difficult to find traces of the glorious Tiangong from its annual report. The manufacturer of the first grader in this new China, a listed company that has been in the stock market for many years, has quietly decline. After the integration, Dingsheng Tiangong was renamed Dingsheng Heavy Industry. It is said that the company's current operating conditions are acceptable after a painful transformation. Lenovo's acquisition of XiaGong shares by AVIC now has to make people worry about the future of industry companies. Xiamen Engineering Co., Ltd. lost 580 million yuan in 2013, which should be said to be the worst operating situation among several listed companies in the industry. At the end of 2014, the AVIC Department exchanged nearly 5% of the shares of AVIC Black Panther and AVIC Heavy Machinery for 56% of the shares of the controlling shareholder of Xiamen Engineering Co., Ltd. and controlled the listed companies. Although its transaction price of about 1.1 billion yuan was only about 20% of the total market value of XiaGong shares, the market responded enthusiastically, saying that the acquisition was a “military industry” near XiaGong shares. If the losses of listed companies in the construction machinery industry continue to expand in 2015, will the makeover of Dingsheng Tiangong and Xiagong Shares be a way out?
After all, listed companies are still the best in the industry. For thousands of small and medium-sized enterprises, in the face of changes in the economic environment, the situation may be even worse. It is understood that as one of the main products of construction machinery, the sales volume of excavators is only 40,000 units in the first half of the year, which is equivalent to the one-month sales volume in the heyday of the industry. An enterprise executive revealed that the competition of loaders is very fierce. The market price of 5-ton loaders is generally around 230,000 yuan, and the profit is already very thin. However, due to the bargaining prices of several companies, some manufacturers have dropped to 180,000 yuan a unit, also sell money to lose money, not to sell even more money. Other companies report that the factory has a total of four production lines, and now only one is in operation. And for some companies that want to use exports as a way out, they also face difficulties. Some manufacturers report that due to economic turmoil and other reasons in Russia, sales in the domestic market have completely stopped. As Brazil, the center of China's construction machinery overseas expansion, sluggish economic growth and currency depreciation have also brought difficulties and risks to overseas expansion.