A-share Listed Machine Tool Companies - Profiles and Financial Data
Stimulated by the rapid growth of fixed asset investment in China from 2007 to 2010, the gross industrial production value of the machine tool industry has increased fast. In 2011, affected by government's strategy of “optimizing structure and reducing capacity" and global overcapacity, the growth trend of machine industry slows down from the second year of 2011 but it remains increasing.
It is estimated that the global consumption market of machine tool will flatten and have a modest upturn from 2017 to 2021. For example, the strategy of re-industrialization in Germany will bring new developments to the aviation, electric equipment and automobile industries. The Indian market also benefits from global industrial transfer, fast-growing infrastructure investment and the development of automobile industry. Besides, US consumption demands for high-end machine tool will be stimulated by protectionism and manufacturing revival. Judging from the investment of the global major consumption areas, such as aviation, electric equipment, precision optical instruments and automobiles, the future consumption volume is expected to increase.
According to CRI, the industrialization and urbanization are proceeding in China. The increased labor cost will quickly blow out of low-efficient production mode, leading to the increased percentage of numerical control machine tools.
In 2016, the export value of machine tool in China was USD 2.9 billion, down by 9.4% YOY. Among them, the export value of metal-cutting machine tool was about USD 1.9 billion, down by 9.5% YOY; the export value of metal-forming machine tool was about USD 1 million, down by 9.1% YOY. In 2016, the total export value of tools reached USD 2.6 billion, unchanged over the previous year. The import value of machine tool in China was USD 7.5 billion, down by 12.8% YOY. The import value of metal-cutting machine tool was USD 6.1 billion, down by 12.9% YOY; the import of metal forming machine tool was USD 1.4 billion, down by 12.5% YOY. In 2016, the import value of tools in China was about USD 1.5 billion, unchanged over the previous year.
In recent years, the Chinese government has issued a series of economic and industrial policies in order to boost the economy. Machine tools are involved in these policies, such as National Development Program of Strategic Emerging Industries During the 13th Five-Year Plan Period (2016-2020), One Belt and One Road and Made in China 2015. These policies all promote the development of Chinese machine tool industry.
In this report, CRI analyzes 14 machine tool manufacturing enterprises listed in A-share market in China.
The report is composed of two parts: the first part is enterprise profiles and the second part is the operation status of these enterprises in the recent decade (presently 2006 to 2016, we will update it to the latest as time goes by).
The operation status is demonstrated from the following perspectives: (1) financial indexes, such as earnings per share, book value per share (BPS), sales per share, net cash flow per share, return on net worth and debt to asset ratio; (2) indexes on the income statement, such as revenue, operating profit, net profit and EBIT; (3) indexes on the income statement, such as revenue, operating profit, net profit and EBIT; (4) indexes on the balance sheet, such as liquid asset, fixed asset, current liability, non-current liability, capital reserve and shareholders' equity.
(1) Financial Indexes
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