In the first quarter of 2022, the statistics of key contacting enterprises of China Machine Tool Industry Association show that the main indicators of the industry, such as operating revenue and total profits, have increased year-on-year, and exports have increased substantially. The overall start of the year has been good. However, the growth rate of operating revenue is slowing down, the new orders of metal processing machine tools are changing from rising to falling year on year, and the inventory continues to grow, which will bring certain pressure to the operation of the industry in the next stage.
(1) Operating revenue maintained growth but fell from January to February
In the January-March period of 2022, the operating revenue of key connected enterprises increased by 8.3 percent year-on-year, down 5.1 percentage points from the January-February period. Among the sub-industries, metal cutting machine tools grew 0.9% YOy, metal forming machine tools 31.8% yoy, measuring tools 12.1% yoy, abrasives 13.3% yoy, and rolling functional parts saw the largest increase of 34.9% yoy. Figure 1 compares the year-on-year growth rate of cumulative operating revenue of key connected enterprises from January to March 2022 to 2020 and 2021
Focus on the year-on-year growth of business revenue
(2) The total profit increase is considerable, but the profit level is still low
From January to March 2022, the year-on-year growth of total profits achieved by key connected enterprises was greater than the growth of operating revenue. In the sub-industries, except machine tools and electrical appliances, other sub-industries are profitable. The total profits of metal cutting machine tools, metal forming machine tools, measuring tools, rolling functional parts and abrasives increased year-on-year. Overall, the overall profitability of the industry is still about 6%.
(3) The loss area expanded slightly year on year
In the January-March period of 2022, loss-making companies accounted for 27.6 percent of key contact companies, up 0.4 percentage points from the same month of the previous year. Among them, the metal cutting machine tools narrowed by 4.5 percentage points, the metal forming machine tools expanded by 10.7 percentage points, the quantity of tools was flat, and the abrasive and abrasive tools narrowed by 9.1 percentage points.
(4) Orders for metal cutting machine tools are down year on year, while orders for metal forming machine tools are still good
In January-March 2022, new orders for metalworking machine tools from key contact enterprises fell 1.5% yoy, while orders in hand rose 7% yoy as of the end of March. Among them, the new orders of metal cutting machine tools decreased by 14.9% year on year, and the orders in hand decreased by 6.6% year on year; New orders for metal forming machine tools were up 33.5% year on year, while orders in hand were up 42.5% year on year. Metal forming machine tools in hand orders on the year-on-year growth rate is outstanding, the next stage of stable operation basis is better.
Comprehensive all aspects of the situation, the current machine tool industry downward pressure increased. However, with the implementation of various policies and measures of the CPC Central Committee, The State Council and relevant ministries and commissions to stabilize growth and ensure market players, the epidemic is gradually under control and the relevant policies to help enterprises are implemented in place, the macroeconomic environment for the operation of the industry will be better and better. It is hoped that enterprises in the industry will work hard to overcome the current difficulties, focus on high-quality development, focus on solving the deep-seated problems in transformation and upgrading, and strive for greater development in 2022.
Post time: Sep-15-2022