In 2013, the pace of recovery of China's construction machinery industry was still very slow, and it seems that it is not easy for construction machinery to turn over salted fish.
As an investment industry, the development of construction machinery industry is affected by the growth of investment. Although the infrastructure construction in some areas of China was in full swing in 2013, in the first half of the year, the construction machinery industry was still suffering from insufficient market demand, which led to negative growth in both revenue and profits of the business. According to data from the China Machinery Industry Federation, from January to July this year, the main business income of the construction machinery industry in China fell by 2.56%, and the profit decreased by 18.44%. According to the China Construction Machinery Market Index (CMI), which was released in March this year, it reached the highest point of 134, and began to decline gradually in April. The CMI for May was 88, and the CMI for June was 84, continuing to decline. This indicates that the traditional cycle of construction machinery industry was not booming from April to June, but worse than that from January to March.
The situation in the second half of the year was not very optimistic. According to relevant surveys, most construction machinery companies reported that the sales volume in September had increased at different levels in September. This seems to be a good voice. However, this does not mean that the construction machinery is really on the bright road again. Although the sales volume of construction machinery in the fourth quarter is expected to improve, it is difficult to surpass expectations. It will be difficult for construction machinery to reproduce explosive growth similar to the “Golden Decadeâ€.
In addition, the fall in new real estate starts has also affected the recovery of the construction machinery market. It is reported that in August 2013, the area of ​​new real estate starts fell by 20.1% year-on-year and by 9%. At the same time, a number of brokerages issued research reports to judge whether the real estate data for September or 4th quarter will continue to fall. This situation, on the one hand, will affect the stock price of listed companies in construction machinery. On the other hand, the reduction in the amount of real estate starts will directly affect the sales of construction machinery products. Although this is only a factor, it is also worrying enough.
What is more realistic is that we have already experienced the chill of the market from the performance of a large number of companies. In China's construction machinery industry, there are BMWs in the south and BICES in the north. The two major construction machinery exhibitions are held one after the other in the south and the north. However, at the Beijing BICES exhibition this year, we have clearly felt that the enthusiasm of enterprises for the exhibition is not as good as before, which seems to be a good evidence.
As an investment industry, the development of construction machinery industry is affected by the growth of investment. Although the infrastructure construction in some areas of China was in full swing in 2013, in the first half of the year, the construction machinery industry was still suffering from insufficient market demand, which led to negative growth in both revenue and profits of the business. According to data from the China Machinery Industry Federation, from January to July this year, the main business income of the construction machinery industry in China fell by 2.56%, and the profit decreased by 18.44%. According to the China Construction Machinery Market Index (CMI), which was released in March this year, it reached the highest point of 134, and began to decline gradually in April. The CMI for May was 88, and the CMI for June was 84, continuing to decline. This indicates that the traditional cycle of construction machinery industry was not booming from April to June, but worse than that from January to March.
The situation in the second half of the year was not very optimistic. According to relevant surveys, most construction machinery companies reported that the sales volume in September had increased at different levels in September. This seems to be a good voice. However, this does not mean that the construction machinery is really on the bright road again. Although the sales volume of construction machinery in the fourth quarter is expected to improve, it is difficult to surpass expectations. It will be difficult for construction machinery to reproduce explosive growth similar to the “Golden Decadeâ€.
In addition, the fall in new real estate starts has also affected the recovery of the construction machinery market. It is reported that in August 2013, the area of ​​new real estate starts fell by 20.1% year-on-year and by 9%. At the same time, a number of brokerages issued research reports to judge whether the real estate data for September or 4th quarter will continue to fall. This situation, on the one hand, will affect the stock price of listed companies in construction machinery. On the other hand, the reduction in the amount of real estate starts will directly affect the sales of construction machinery products. Although this is only a factor, it is also worrying enough.
What is more realistic is that we have already experienced the chill of the market from the performance of a large number of companies. In China's construction machinery industry, there are BMWs in the south and BICES in the north. The two major construction machinery exhibitions are held one after the other in the south and the north. However, at the Beijing BICES exhibition this year, we have clearly felt that the enthusiasm of enterprises for the exhibition is not as good as before, which seems to be a good evidence.
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