Machinery Manufacturing Industry: Third Quarter, Not Short Off
The past week a total of 29 organizations concerned about the machinery manufacturing industry, the highest ranking analyst attention, the first four, attention, raise three from last week.
The third quarter of this year, Construction Machinery Industry and listed companies there is not short off-season of Sell Momentum. Since last year the industry by Financial Crisis, the third quarter, overall industry sales growth over the previous year rose to more than 30% of all sub-sectors to accelerate sales growth or significant improvement over the previous year. Among them, Roller , Truck crane, excavator industry sales year on year increase in more than 30%; forklifts, loaders and the Bulldozer Year sales of close to last year, significant improvement over the first half.
Merchants Securities said the global economic recovery is a slow process, as the lower performance of the machinery industry in the upstream industry recovery ahead, concerns about the Government’s investment in early fall, export, real estate and manufacturing investment was also will rise, forecast a growth rate of machinery industry in 2010 about 20%, valuation remains attractive, the proposed focus Sany Heavy Industry Xu Machinery, Zoomlion, Liugong and Taiyuan Heavy Industry. Jianghai securities that, in the fourth quarter will continue to maintain high investment in fixed assets is expected to rate higher than 30%, real estate development and investment in construction machinery industry is expected to become warmer boom of the impetus for further recovery in anticipation of global economic recovery , construction machinery exports is also expected to usher in reverse, the four-quarter decline in exports would be narrowed, a single month over the previous year is expected to positive; steel and other raw materials prices low for construction machinery products will contribute to a better level of sustained profitability. For construction machinery industry as a whole, “overweight” rating, promising to benefit from the stimulation of investment in real estate development Concrete Machinery , Excavators, etc., recommended by Sany, Zoomlion; also take into account the strong global economic rebound expected in 2010, exports of construction machinery is expected to recover, the proposed long-term potential of a strong export-related species, such as bulldozers, forklifts and other species, recommend Shantui Shares, Anhui Heli.
First Capital Securities pointed out that because of this country’s economic recovery was built on a large-scale investment to stimulate the national day of volume of credit and bank support, based on relatively loose domestic monetary policy has not changed, the country’s large-scale investment and construction projects generally require several years to complete, so they think that new RMB loans in 2009, is expected to more than 10 trillion and domestic new construction planned total investment in fixed assets grew 81.7%, driven by domestic economic growth trends likely to continue to reverse, and thus promote sustained recovery in machinery industry.
Sub-sub-sectors from the perspective of construction machinery, concrete machinery and excavators in recent months, the economy was the highest. BOC that the concrete machinery and excavators are the largest beneficiaries of the real estate recovery. Meanwhile, as part of the second and third tier cities are in the city recently banned Yang mixing concrete, estimate the future demand for more robust concrete machinery. Considering the valuation factors, the recommended first choice is Zoomlion and Sany, but also optimistic Liugong, Xu Machinery and mountains pushed shares.
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