The golden age of the overdraft of construction machinery market has gradually

Zhang Jian (a pseudonym), who has been in the construction machinery industry for many years, did not anticipate this year's situation will change so fast: Last year, the sales volume of the entire construction machinery industry rose explosively, and the major construction machinery companies all earned a lot, but this year As soon as the first quarter ended, the explosive growth quickly stalled.

According to the plan at the beginning of this year, his company Xugong Machinery expects the sales volume of the loader to increase by more than 10% this year. However, after expecting the April and May data to be released, the industrial machinery makes him feel that it may be difficult to complete this task.

According to statistics from the China Construction Machinery Industry Association, excavator sales for the first time in May showed a negative growth year-on-year, down 10% year-on-year, bulldozer sales fell 34% year-on-year, and loader sales remained stable year-on-year, but fell more than 20% month-on-month.

This was the second major decline in the number of major construction machinery products in April after the ring fell. The decline in sales in April was caused by the industry's belief that the March base was too high. However, after the May data release, major players in the industry had to revisit the downstream demand.

Zhang Jian is primarily responsible for the loader market. He said that feedback from downstream sales shows that frequent changes in national policies since the beginning of the year, especially credit policies, have resulted in slower progress for many engineering projects, and many new construction projects have become more difficult to fund. In addition, new projects have been compared with Less last year.

The main users of the loader are mining resources and infrastructure projects. According to Zhang Jian, the sales of loaders in mining resources have been relatively stable this year, and the decline in loader sales is mainly reflected in the field of infrastructure engineering.

According to data from the Ministry of Railways, railway fixed asset investment from January to April this year was 173.253 billion yuan, an increase of 22% year-on-year. From January to May it was 219.993 billion yuan, an increase of only 10.4% year-on-year, and the rate of increase was substantially reduced.

"Not only did XCMG's loader sales decline from the previous month, but other major companies also experienced different degrees of decline month-on-month." Zhang Jian said.

In an interview, a senior person from Shanhe Intelligence stated that "the slowdown in railway investment has a great impact on construction machinery."

Han Xuesong, honorary president of the China Construction Machinery Industry Association, told the newspaper that last year, the railways actually completed infrastructure investment of 709.1 billion yuan, and this year China’s railway infrastructure plan has an investment of 700 billion yuan. The scale of investment is basically the same as in 2010, so the construction machinery Growth does not have much pulling effect.

At the end of last year, Han Xuesong poured cold water on some optimistic companies in the industry. "At the end of last year, many companies were very optimistic and thought that this year may still maintain a growth rate of 50% to 60%. At that time, I said it was impossible to maintain such growth," said Han Xuesong.

Benefited from the 4 trillion yuan policy stimulus and the impact of low base in 2009, all products of construction machinery achieved high growth in 2010, among which excavators, loaders, truck cranes, forklifts, bulldozers, road rollers, and graders increased by the same period respectively. 74.5%, 51.1%, 28.4%, 58.9%, 62.2%, 58.0%, and 29.1%.

Han Xuesong believes that the sharp increase in sales volume in the first quarter was the inertial effect in the fourth quarter of last year. The decline in the sales volume in April and May is relatively normal, which is in line with expectations.

"From the sales data since June, we forecast that the entire loader sales volume may continue to fall by more than 20% in June from the previous month." Zhang Jian told the newspaper that in terms of the company itself, it achieved a basic growth target of around 10% in the first half of the year. But from the whole year, "There is a lot of pressure."

Stress is not only reflected in the completion of tasks. In order to increase sales, many companies in the first quarter did not hesitate to significantly reduce the down payment ratio, and even used zero down payment, resulting in a substantial increase in corporate repayments and financial risks. Although the zero down payment was opposed by the industry association, the reduction of the down payment ratio has not been curbed.

“This is also no way. In the first quarter of this year, the increase in sales volume has overdrawn the market. Now that the market has continued to fall, the companies have had to increase sales efforts through various measures in order to complete the tasks set at the beginning of the year.” Zhang Jian said.

In fact, in the first quarter of this year, the financial statements of major listed companies in the construction machinery industry have shown that account receivables have soared. After the second quarter data is released, it is still not optimistic.