The performance of construction machinery leaders in the first quarter was under pressure,Mini Excavator Rollers
In the first quarter of this year, the performance of listed companies of construction machinery head continued to be under pressure.Mini Excavator Rollers
On the evening of April 28, Sany Heavy Industry Co., Ltd. (Sany Heavy Industry, 600031. SH) announced that the revenue in the first quarter of 2022 was 20.077 billion yuan, a year-on-year decrease of 39.76%; The net profit attributable to the parent company was 1.59 billion yuan, a year-on-year decrease of 71.29%.
According to wind data, the revenues of the seven listed construction machinery companies that have published the first quarter results are all negative growth, of which the net profits of six enterprises are also negative growth, continuing the downward trend of performance in 2021.
In the first quarter of 2022, Zoomlion Heavy Industry Co., Ltd. (Zoomlion, 000157) achieved a revenue of 10.012 billion yuan, a year-on-year decrease of 47.44%, and a net profit of 906 million yuan, a year-on-year decrease of 62.48%; XCMG Construction Machinery Co., Ltd. (XCMG machinery, 000425) achieved a revenue of RMB 20.034 billion, a year-on-year decrease of 19.79%, and a net profit of RMB 1.405 billion, a year-on-year decrease of 18.61%; Guangxi Liugong Machinery Co., Ltd. (Liugong, 000528) achieved a revenue of 6.736 billion yuan, a year-on-year decrease of 22.06%; The net profit was 255 million yuan, a year-on-year decrease of 47.79%.
Shantui Construction Machinery Co., Ltd. (Shantui, 000680) is the only one of several leading enterprises with positive net profit growth, with a net profit of 364 million yuan in the first quarter, a year-on-year increase of 342.05%.
According to the data of China Construction Machinery Industry Association, in March 2022, 26 excavator manufacturers sold 37085 excavators of various types, a year-on-year decrease of 53.1%; Among them, there were 26556 sets in China, a year-on-year decrease of 63.6%; 10529 sets were exported, with a year-on-year increase of 73.5%. In the first quarter of 2022, 77175 excavators were sold, a year-on-year decrease of 39.2%; Among them, there were 51886 sets in China, a year-on-year decrease of 54.3%; 25289 sets were exported, with a year-on-year increase of 88.6%.
The industry believes that the excavator data is a “barometer” reflecting the construction machinery industry. From the whole year of last year to the first quarter of this year, the excavator sales fell year-on-year, and the construction machinery industry may have entered a downward cycle.
Sany Heavy Industry said that in the first quarter, the market demand slowed down, the revenue fell, superimposed with the sharp rise in commodity prices and shipping costs, and the comprehensive factors led to the decline of net profit.Mini Excavator Rollers
In 2021, the raw material costs of Sany Heavy Industry, Zoomlion and XCMG accounted for 88.46%, 94.93% and 85.6% respectively.
Lange steel data show that the price of Lange steel composite index in the first quarter of 2022 was 5192 yuan / ton, up 6.7% year-on-year, at a high level. The cost of raw materials in the construction machinery industry accounts for more than 80%, and its high price may directly affect the company’s profits.
Post time: May-04-2022
