Recently, domestically-made excavator parts released and construction machinery listed companies have continuously disclosed their performance forecasts for the first three quarters, and most companies have completed various levels of additions.

XCMG: Performance meets expectations, high career prosperity, stable leadership position

XCMG issued a statement for the third quarter of 2018: the first three quarters completed operating income of 34.075 billion yuan, an increase of 58.17% year-on-year, and the net profit attributable to the parent was 1.507 billion yuan, an increase of 93.85% year-on-year; during the Q3 single quarter completed operating income of 10.131 billion yuan, an increase of 42.63 year-on-year %, the net profit attributable to the parent is 403 million yuan, an increase of 77.49% year-on-year.

The increase in the overall market share of central products, the expected injection of mixed-use reforms, and the improvement in property quality are the main reasons for XCMG's high performance in the third quarter.

As the big brother of the construction machinery industry, XCMG's product line spans multiple categories such as hoisting machinery, road machinery, compaction machinery, and large-scale mining machinery, and it is a multi-material champion.

Product line bursts out, leading position is stable

The benefiting profession continues to prosper, and its planning effect flashes. In the first three quarters, Xugong Machinery's products were in the top camp of the profession, during which:

In September, the sales of XCMG excavators increased by 26.3% year-on-year, and the growth rate was the first job; the sales of XCMG car cranes were 1,127 units, +35% year-on-year, and the monthly market share was 46%, ranking first; the sales of XCMG road rollers were 322 units, the monthly market With a share of 25%, it is firmly in the first place; XCMG's sales of 75 motor graders are firmly in the first place.

Earnings can be stable and operational quality can be improved

Since the beginning of this year, XCMG's payment collection level has improved significantly, historical bad debts have been completely cleared, and the company's property impairment losses have increased by 170.84% year-on-year; the company's net operating cash flow is 1.921 billion, and the operating quality and gross profit margin have been improved and improved.

Mixed reform + excavator injection into the schedule to increase operating power

In the second half of the year, XCMG was included in the list of the first batch of mixed-ownership reforms in Jiangsu Province and the "double-hundred list" of state-owned enterprise reforms. If the mixed reforms are completed smoothly, the group's high-quality assets will be gathered and injected into listed companies, and XCMG's operating power will be further improved. Domestic excavator accessories

31: The results meet expectations, the quality of assets is optimized, and the leader is comprehensively improved

Sany issued a statement for the third quarter of 2018. In the first three quarters, revenue was 41.077 billion yuan, an increase of 45.88% year-on-year, net profit was 4.883 billion yuan, an increase of 170.90% year-on-year, non-net profit was 5.232 billion yuan, an increase of 238.50% year-on-year, and net operating cash The flow of 8.732 billion yuan, an increase of 26.92%.

The increase in the overall market share of the central products, the optimization of the company's product sales structure, and the improvement of the quality of assets are the main reasons for the high increase in the performance of the third quarter.

The main operations of Sany Heavy Industry are: excavation machinery, concrete machinery, and hoisting machinery, which account for up to 86%.

Benefit from a high career boom, and various product lines burst

From January to September, professional sales of excavators reached 156,200 units, a year-on-year increase of 53.3%. During the period from January to September, Sany's sales of excavators reached 35,600 units, ranking first in the professional list, continuing the steady growth of 18 years.

From January to September, the professional sales of car cranes reached 24,700 units, an increase of 68.69% year-on-year. During this period, the company's car crane sales reached 5178 units, an increase of 77.21% year-on-year, surpassing the professional growth rate and the market share steadily increased. With the implementation of prefabricated construction, demand for tower cranes exceeds supply. In 2019, crane machinery may have a 10%-20% growth rate.

In terms of concrete machinery, the sales volume of Sany pump trucks reached more than 1,200 in the first half of this year, a year-on-year growth rate of more than 150%. It is estimated that the high growth rate will continue throughout the year.

Weak cash flow and high profitability

During the period, the expense rate decreased, and the profit rate remained high. From January to September, the company's financial expense ratio fell sharply to 0.24% from 3.44% in 2017. During this period, operating cash flow reached 8.732 billion yuan, and the net profit margin remained at 11.5% in the third quarter, an increase of 4.4 percentage points year-on-year. The weak cash flow supports the company's steady development, making the company's profit margins remain high.

Zoomlion: The results meet expectations, the quality of assets is optimized, and the career boom

Zoomlion issued a statement for the third quarter of 2018: the operating income in the first three quarters was 21,035,136,622.24 yuan, an increase of 17.78% year-on-year, and the net profit attributable to shareholders of listed companies was 1,302,889,785.44 yuan, an increase of 1.6% year-on-year.

The bursting of the central business sector and the prosperous career boom are the main factors that have added to the results of Zoomlion in the third quarter.

Infrastructure and environmental protection increase, leading position is highlighted

Affected by factors such as increased investment in infrastructure, stricter environmental protection, and equipment upgrades, cranes, concrete pump trucks and relay excavators have increased. Zoomlion, which is struggling while the iron is hot, has completed a weak addition to the center's main business construction machinery sector. From January to September, the proportion of Zoomlion's cranes and concrete machinery in the domestic product market has remained at the top of the list; since the second half of the year, the prices of its leading products have risen by 1%-5%, and the down payment ratio has reached 40%; Boom pump trucks continue to maintain their leading position in the profession.

Cash flow improvement, hoisting machinery is rising

Operational cash flow was stable, and the addition of sales receipts brought significant improvements in cash flow, and advance receipts reached the highest level. Based on the two major supports of financing environment and policy, it is estimated that the capital investment in infrastructure construction will increase by 8% year-on-year, which will promote the high demand for cranes and pump trucks. It is estimated that the professional sales of cranes will be +50% to +60% throughout the year, and Zoomlion will benefit significantly as the industry leader. Domestic excavator accessories

Liugong: Achievements are increasing, infrastructure construction is being promoted, and career prosperity is high

Liugong issued a statement for the third quarter of 2018. In the first three quarters, revenue was 13.466 billion yuan, an increase of 54.69% year-on-year, net profit attributable to the parent was 715 million yuan, an increase of 135.81% year-on-year, and non-net profit was deducted by RMB 557 million, an increase of 139.60% year-on-year.

The increase in the market share of central products and the steady rise in infrastructure are the main reasons for Liugong's high performance in the third quarter.

Benefit from the high career boom, and take the lead in the growth of installed and excavated products

According to data from the Construction Machinery Association, from January to September, sales of loaders were 82,100 units, an increase of 22.62% year-on-year; sales of excavators were 156,200 units, an increase of 56.21% year-on-year. Benefiting from the high prosperity of the profession, Liugong, the leader in earthmoving machinery, sold 10,500 excavators from January to September, an increase of 78.52% year-on-year, and a market share of 6.72%; according to the semi-annual report, the company's loaders sales increased Higher than professional, the market share is also steadily increasing.

Promoted by the infrastructure boom, boosting product sales

The implementation of infrastructure projects is expected to drive the growth rate of infrastructure construction to stabilize and increase, and Liugong is expected to continue to benefit: from January to September 2018, infrastructure construction investment increased by 3.3% year-on-year. Following the National Standing Committee and the Politburo meeting at the end of July to make up for the shortcomings of infrastructure construction, infrastructure projects in various regions have been vigorously promoted, and then the demand for construction machinery and equipment has been boosted. Liu has benefited as a professional leader.

Sunward Intelligent: Increased net profit by 240%, stable overseas proportion and enhanced competitiveness of shopping malls

Sunward Intelligent released a statement for the third quarter of 2018. In the first three quarters, it completed operating income of 3.963 billion yuan, an increase of 53.31% year-on-year, and net profit after deduction was 387 million yuan, an increase of 240.41% year-on-year.

The investment and accumulation of main operations, coupled with the recovery of the entire profession, has become the main reason for the high increase in Sunward Intelligence.

Take advantage of the trend, the sale achieved fruitful results

Since 2018, Sunward has seized the favorable policy opportunities to make up for the shortcomings of the national infrastructure, and has successively held more than ten customer exchange meetings in Guangdong, Gansu, Shaanxi and other places. Relying on super-high-function, lean-quality products and services, many contracts were obtained at various exchange meetings, which then led to sales results.

The export of micro-digging exceeds 10,000, and the overseas proportion is stable

Sunward is deeply engaged in the main operation business. Taking micro-digging as an example, its products are deeply loved through deepening research and continuous innovation. Since 2003, it has been continuously exported to more than 60 countries and regions on five continents including Europe, the United States, Asia, Australia and Africa. So far, the export sales of micro excavators have exceeded 10,000 units, and the brand influence and international position are increasing. Sunward Intelligent has actively developed overseas markets by relying on its excellent production quality and has won a stable market share.

Shantui shares: results in line with expectations

Shantui issued a statement for the third quarter of 2018. In the first three quarters, it completed operating income of RMB 6,194,973,227.36, an increase of 26.24% year-on-year, and the net profit attributable to shareholders of listed companies was RMB 85,070,656.85, an increase of 33.89% year-on-year.

Zhejiang Dali: Achievements greatly exceeded expectations, production capacity was invested, and leading companies improved

Zhejiang vigorously released the forecast for the third quarter report. In the first three quarters of 2018, the company completed a net profit increase of 168.5 million yuan compared with the same period of the previous year, an increase of about 74% year-on-year, and non-net profit increased by 135.0 million yuan compared with the same period of the previous year, an increase of about 60% year-on-year .

The increase in product competitiveness, the release of new production capacity, and the obvious domestic effect are the main reasons for Zhejiang's high performance.

New production capacity released, injection results added

Zhejiang Dalixiao's scissors products were put into mass production to increase gross profit margin and optimize product structure. The arm type sold 380 units in the first three quarters, and more than 200 units in the whole year of the previous year. The gross profit margin increased compared with the previous year. At the same time, the "Annual Production of 15,000 Smart Micro Aerial Work Path Technical Transformation Project" was put into production in July, which not only increased the production capacity of micro scissor forks, but also directly contributed to the increase in performance.

Domestic and foreign shopping malls have expanded smoothly, with high sales

Now, Zhejiang is vigorously expanding its channels in European and American shopping malls, superimposing high overseas demand and demanding more products than supply. In addition, Zhejiang has vigorously strengthened collaboration with domestic high-quality renters to ensure that domestic sales continue to increase. During the third quarter, domestic and foreign sales accounted for 41%: 59%.

Hengli Hydraulics: beautiful results, high career prosperity, and large growth space for hydraulic faucets

Hengli Hydraulics released its third quarterly report. In the first three quarters of 2018, the company completed revenue of 3.160 billion, an increase of 55.92% year-on-year, net profit of 719 million, an increase of 160.38% year-on-year, and non-net profit of 620 million, an increase of 136.12% year-on-year.

Zhongda digging pump valve is added to meet the height, and the growth space is released

Now, as the leader of excavator cylinders, Hengli Hydraulic's medium and large excavator pump valves are now fully equipped with domestic mainstream OEMs such as Sany, Xugong, Liugong, and Lingong. Product competitiveness continues to increase, and sales volume has increased significantly; non-standard heavy-duty cylinders continue to be added quickly even when their production capacity is partially occupied; hydraulic pump valve production capacity is gradually released, small digging pump valves continue to increase, and medium and large digging pump valve production lines are gradually in place . The company's inventory, advance receipts, and advance payments increased by 41%, 25%, and 91% year-on-year. Significant increase in orders in hand has effectively ensured a high-speed increase in company performance.

The planning effect flashed, and the surplus increased substantially

Benefiting from the increase in sales planning and the increase in internal management power, Hengli Hydraulics continued to increase its gross profit margin in the first three quarters, and the management expense ratio (-1.02pct) and selling expense ratio (-0.83pct) decreased. Multiple factors made the company The level of surplus increased substantially. Domestic excavator accessories

Eddie Fine: The results meet expectations, the quality of assets is optimized, and the leader is comprehensively improved

Eddie released its third quarterly report. In the first three quarters of 2018, it completed revenue of 750 million yuan, an increase of 59.44% year-on-year, net profit attributable to parent company of 175 million yuan, an increase of 70.76% year-on-year, and non-net profit of 175 million yuan, an increase of 73.44% year-on-year.