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Market Opportunities Brought By The "belt And Road" And Supply Side Structural Reform
The annual net profit attributable to shareholders of the listed company was 3.248 billion yuan to 3.596 billion yuan, an increase of 2.088 billion yuan to 2.436 billion yuan, 180% to 210% year-on-year. As for the main reasons for the expected increase in the current performance, the sales of the Company's mining machinery, concrete machinery, crane machinery and other equipment continued to grow strongly during the reporting period, driven by the demand for downstream infrastructure, the demand for equipment renewal, the artificial substitution effect, environmental protection drive, the further improvement of core competitiveness and other factors.
The net profit in the first half of the year was 1 billion yuan to 1.15 billion yuan, up 81.72% - 108.97% year on year. During the reporting period, the situation of the construction machinery industry benefited from the market opportunities brought by the "Belt and Road" and the supply side structural reform. The operating income increased significantly compared with the same period of last year, and the net profit increased significantly compared with the same period of last year.
Pacific Securities believes that although June August has entered the traditional off-season of construction machinery, according to the current shipment and production scheduling, the year-on-year growth rate in August is still expected to maintain a high level. The boom of construction machinery in the second half of the year was more than expected. The annual domestic excavator sales were expected to reach or exceed 190000 units, with a year-on-year growth rate of 30-35%.
The overseas layout of domestic machinery industry leaders has been preliminarily completed. The large-scale infrastructure and real estate construction in Southeast Asia, South Asia and Central Asia resonate, and the overseas market has increasingly become an important profit growth point. From January to June 2018, China's excavator exports increased by 110.5% year on year, and it is expected that the annual excavator exports are expected to exceed 15000 sets. In terms of enterprises, XCMG has the first market share in West Asia, Central Asia and North Africa, among which the export proportion of the "Belt and Road" countries exceeds 70%.
The net profit in the first half of the year was 1 billion yuan to 1.15 billion yuan, up 81.72% - 108.97% year on year. During the reporting period, the situation of the construction machinery industry benefited from the market opportunities brought by the "Belt and Road" and the supply side structural reform. The operating income increased significantly compared with the same period of last year, and the net profit increased significantly compared with the same period of last year.
Pacific Securities believes that although June August has entered the traditional off-season of construction machinery, according to the current shipment and production scheduling, the year-on-year growth rate in August is still expected to maintain a high level. The boom of construction machinery in the second half of the year was more than expected. The annual domestic excavator sales were expected to reach or exceed 190000 units, with a year-on-year growth rate of 30-35%.
The overseas layout of domestic machinery industry leaders has been preliminarily completed. The large-scale infrastructure and real estate construction in Southeast Asia, South Asia and Central Asia resonate, and the overseas market has increasingly become an important profit growth point. From January to June 2018, China's excavator exports increased by 110.5% year on year, and it is expected that the annual excavator exports are expected to exceed 15000 sets. In terms of enterprises, XCMG has the first market share in West Asia, Central Asia and North Africa, among which the export proportion of the "Belt and Road" countries exceeds 70%.
