The hottest month on month sales fell again, and t

The sales volume of construction machinery fell again month on month, and the "mid-term examination" of construction machinery was not optimistic.

the disclosure date of the mid-term report is getting closer, but for construction machinery companies, their "mid-term examination" results may not bring too many surprises to the market

bulldozer leader Shantui Co., Ltd. recently revised its performance forecast for the first half of the year, and the company expects that the net profit in the first half of the year is basically the same as that in the same period of the previous year. In the first quarter of this year, the company had expected the net profit in the first half of the year to increase by 50% to 100%. The lower performance is expected to be due to the decline in market demand for the company's main products and the decrease in investment income represented by the joint-stock company Komatsu Shantui Construction Machinery Co., Ltd. due to the impact of the national tightening monetary policy

from the substantial pre increase at the end of April to the current lowered performance expectations, Shantui shares felt the rapid decline in industry sales data in just two months. Construction machinery continued to decline rapidly in May after falling back since April this year. According to the data of the industry association, in May, the sales volume of loaders was 120000, with a year-on-year increase of 2% for Jinan Shijin to teach you how to solve the failure of the press, with a month on month decrease of 20.5%; The sales volume of bulldozers was 7796, with a year-on-year decrease of 34.21% and a month on month decrease of 26.21%; The sales volume of excavators was 114900 units, a year-on-year decrease of 12.7% and a month on month decrease of 47.73%; 20600 truck cranes, a year-on-year decrease of 9.7% and a month on month decrease of 22.38%

"according to the data of the industry association, the sales state in the second quarter is very different from that in the first quarter. It may be that the demand for construction machinery in the market was advanced in the first quarter. At the same time, too loose credit sales conditions stimulated the excitement of the market. It is expected that the digestion of this effect will still take some time, and the machinery market will remain weak in the short term. It can stop stretching, tightening, twists and turns and other functions of various data." Li Qin, a researcher at CIC securities, said

for the May sales data released by the industry association, Zhou Fengwu, a researcher at Donghai securities, analyzed that the continuation of the national macro tightening policy was the main reason for the weakening of the industry trend, while the low opening rate of water conservancy investment and affordable housing transaction prices in the first half of the year, which were not published, also continued to weaken the recent trend of the industry

judging from the judgment of Shantui shares and the analysis of researchers, the tight monetary policy has become an important reason for the decline in the sales of construction machinery. It is understood that the impact of the credit crunch on the industry is mainly manifested in two aspects: first, it affects the downstream demand of the industry. Due to the slowdown in the construction of some projects under construction due to the credit crunch, the construction of projects originally planned to start was postponed; Second, it affected the marketing strength of enterprises. In order to seize market share in the first quarter, construction machinery enterprises increased their promotional efforts and increased the proportion of financial leasing and installment payment. However, after entering April, some enterprises began to strengthen risk control and actively shrink the proportion of credit sales

given that the credit policy has not been substantially loosened, the demand for Shantui stock products is still declining, and the annual investment income is not optimistic. Therefore, after Shantui released the above performance revisions, securities companies such as Guojin securities and Anxin securities have preliminarily lowered the relative error of the results, which is also the earnings forecast of Shantui

reports from several securities companies pointed out that the acceleration of affordable housing construction in the second half of the year is expected to reverse the continuous decline of construction machinery. However, researcher Li Qin believes that although the construction of affordable housing will support part of the demand, it is still not enough to make up for the vacancy caused by the decline of the real economy on the whole, and it will take some time for the construction machinery to be driven by the construction of affordable housing. Before it really works, the machinery market sales may still have a period of decline