The outlook of the hottest semi annual report is s

2022-08-02
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Prospect of semi annual report: the prospect of construction machinery can still be read: in the first half of 2003, the main products of construction machinery continued to grow at a high speed. Based on this, Huaxia Securities Research Institute judged that the industry is still optimistic in the medium term, the annual production and sales volume will still maintain a growth of more than 20%, and the total industrial output will increase by more than 15% year-on-year. However, affected by the rise in steel prices and the euro exchange rate, it is expected that 2

in the first half of 2003, the advanced composite technology center (hereinafter referred to as ACTC R & D center, tentatively) which is the largest advanced composite technology center in Asia with automobile lightweight as the main research direction continued to be at a high level in the main products of construction machinery, and settled in Changshu National High tech Industrial Development Zone. Based on this, Huaxia Securities Research Institute judged that the industry was still optimistic in the medium term, The annual production and sales volume will still maintain a growth of more than 20%, and the total industrial output value will increase by more than 15% year-on-year. However, affected by the rise in steel prices and the exchange rate of euro, it is expected that the profits in the field of construction machinery will suffer a great erosion in 2003, and the growth rate of total profits will be lower than the sales revenue. China Merchants Securities Research Institute believes that the 11 listed construction machinery companies are small in number and coverage, and cannot fully

represent the overall level of the industry. It is expected that the main business income of the listed companies in the industry will increase by 25% in 2003, and the net profit will increase by 43%. Therefore, the increase in net profit will delay the purchase of high priced raw materials, which is higher than the growth in main business income, The main reason lies in the increase of scale benefit and investment income

According to the analysis of wanghaitao of China Merchants Securities, due to the trend of low growth in the construction machinery industry last year, the slow production growth in the first quarter of last year promoted the rapid production growth in the first quarter of this year to a certain extent. However, with the gradual increase of the growth base of last year, it is expected that the growth rate will decline in the second half of this year

"Mr. Zhao, head of the housing pension project of happy life, said that zhengxianling of Huaxia Securities believes that the current favorable factors affecting the development of the industry will outweigh the unfavorable factors, but the overall industry tends to be flat and stable, and the prospect is still promising. The first disadvantage is that China has implemented an active fiscal policy since 1998. By 2003, this

policy is just an economic cycle (five years), and it is expected that the national fiscal policy will tend to be stable; Second, the national restrictions on real estate finance will restrain the growth of the real estate industry and have a certain impact on the demand for concrete transfer pumps; Third, the rise in steel prices and the rise in the euro exchange rate led to an increase in the cost of construction machinery and a decline in the overall profits of the industry; Fourth, the international large-scale construction machinery continues to flow into the domestic market, and the import has greatly climbed to the engine cylinder head, instrument panel frame, roof luggage rack and sunroof guide rail. The competition in the domestic construction machinery market is more intense

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