The China
Auto Lathe Machine Tool Industry Association (hereinafter referred to as the Association) has analyzed the industry based on the data of the first three quarters. The analysis report points out that in the first three quarters, the
Automatic Turning Machine tool industry has actively overcome the impact of the epidemic and other adverse factors, and the economic operation has gradually recovered to a good situation.
Operating revenue rose slightly
From January to September of 2022, the business revenue of key affiliated enterprises of the China Machine Tool Industry Association increased by 1.2% year-on-year, according to the association's data. Among them, the metal cutting machine tool sub-industry decreased by 5.9% year on year, the metal forming machine tool sub-industry increased by 25.9% year on year, the measuring tools sub-industry decreased by 1.9% year on year, and the abrasive tools sub-industry increased by 16.2% year on year.
On a monthly basis, the operating revenue of key enterprises in July, August and September was down 2.5%, up 7.0% and up 8.3%, respectively.
Total profits kept growing. From January to September, total profits of key enterprises increased by 30.0% year-on-year. Among them, the metal cutting machine tool sub-industry grew by 37.1% year-on-year, the metal forming machine tool sub-industry grew by 42.7% year-on-year, the measuring tools sub-industry decreased by 12.0% year-on-year, and the abrasive abrasives sub-industry increased by 155.8% year-on-year. The total profit of the industry as a whole maintains growth, but the profit level is still low.
Compared with the first half of the year, the loss ratio of key related enterprises accounted for 25.3%, 0.8 percentage points higher than the same period last year. It narrowed by 2.0 percentage points from the first half of this year.
The order of metal cutting
Cnc Lathe Machine decreased, the order of forming machine increased. New orders for metalworking machine tools from key enterprises decreased by 5.9% year on year, while orders in hand increased by 2.9% year on year.
The output of machine tools decreased and the inventory increased obviously. According to data released by the National Bureau of Statistics, during the first nine months of 2022, the output of metal cutting machine tools by regular enterprises was 416,000 units, down 11.1% year on year; The output of metal forming machine tools was 152,000 units, down 13.1% year-on-year.
According to China Customs data, the total import and export volume of the machine tool industry from January to September of 2022 was 25.28 billion US dollars, up 4.3% year on year. The total amount of imports was US $9.49 billion, down 9.6% year on year; Exports totaled $15.79 billion, up 15.0 percent year on year. Imports declined, while exports maintained double-digit growth.
Export, still maintain the trend of substantial growth. Among them, the export value of metalworking machine tools was $4.58 billion, up by 21.0% year on year.
On the whole, the epidemic had a serious impact on the industry in the first three quarters, and its operating revenue returned to growth after August. Driven by the good start of the national economy at the beginning of 2022, the machine tool industry achieved double-digit growth in January and February. Since late March, the outbreak of the epidemic in Shanghai, Beijing and other places has severely impacted the production and operation of enterprises in the machine tool industry, resulting in a sharp decline in the monthly operating income index of key enterprises in April and May, and a gradual decline in the monthly operating income index in June and July, but the cumulative growth rate turns to decline. Since August, the monthly and cumulative growth rate of operating revenue has returned to growth. But machine tool production, machine tool new orders are still in a year-on-year decline.
High-end
Cnc Machine tools continue to increase in volume
It is understood that at the present stage, the number of domestic enterprises carrying out high-end machine tool business and the production and sales volume are still quite different from that of developed countries, and the high-end CNC system and key functional parts are still mainly imported. Domestic high-end machine tools localization rate is less than 10%, import substitution space is huge.
Cord Numerical Control (688305) in the third quarter results show that the company's performance benefited from the development of five axis CNC machine tools. During the reporting period, the company achieved an operating revenue of 207 million yuan, with a year-on-year growth of 28.50%; Net profit of 33.3439 million yuan, a year-on-year growth of -28.49%.
Cord CNC said that the company layout of four general technology platforms (five axis vertical, horizontal, horizontal milling machine compound, gantry) and two special technology platforms (blade machine, tool grinder), sales of five axis linkage CNC machine tools to general equipment, accounting for more than 95%. Because the company has mastered the high-end CNC system, key functional components and the core technology of the five-axis CNC machine tool, it can realize the customized design based on the general equipment to meet the differentiated needs of users.
Yu Benhong, chairman of Corde Numerical Control, introduced that according to the data statistics of relevant institutions, in 2021, the company's five-axis CNC machine tools in domestic (including foreign and domestic) brands, the sales volume of the market share of about 10%. The whole machine products of the company are benchmarked to international advanced brands. Among the main model of five-axis vertical machining, KMC800SU benchmarked to Hammer C42 is basically equivalent to Hammer C42 in equipment performance, machine tool accuracy, functional parameters and other aspects, and some functional parameters are better than foreign products.
In the recent survey, Huazhong CNC said that with the continuous improvement of the company's comprehensive competitiveness in technology, quality, service and other aspects, it can compete with foreign giants on the same stage and gradually realize import substitution in the middle and high-end CNC system market field. With the implementation of the national high quality development strategy, the transformation and upgrading of the manufacturing industry, as well as the upgrading demand for the industrial mother machine itself, the future demand for high-end CNC systems is greater, which will be the company's future development opportunities.
Affected by the epidemic and the tight global supply chain and other factors, the company achieved an operating revenue of 972 million yuan in the first three quarters, with little change compared with the same period last year, but the net profit was under pressure and decreased compared with the same period last year.
It is expected to be flat or slightly up for the full year
At the macro level, the downward pressure on the Chinese economy has increased this year due to the complex changes in the international situation and the impact of the epidemic at home. However, the national economy has continued to recover since the late second quarter.
The association predicted that the machine tool industry is still facing weak market demand and investment, the impact of the epidemic, supply chain instability and other problems, the next stage of operation pressure is still large. Comprehensive judgment of all aspects, the fourth quarter machine tool industry will continue to recover, the year is expected to be flat or slightly increased with the previous year, but metal cutting machine tools are expected to be lower than the overall level of the industry.
At the same time, since the second half of 2022, more and more policies have been introduced to support the mother plane.
On September 18th, the first batch of machine tool ETFs -- Huaxia Sinosecurities Machine Tool ETF and Guotai Sinosecurities Machine Tool ETF were approved by China Securities Regulatory Commission (CSRC), involving listed companies in Oems, CNC systems, spindle, cutting tools and other fields, providing direct financing facilities for machine tool enterprises with core technologies and outstanding scientific innovation ability. At present, the ETF scale of Huaxia and Guotai China Securities machine tool reaches 520 million yuan and 1.22 billion yuan respectively.
September 27, the first China led machine tool numerical control system series international standard ISO23218-2 official release, shows that our country under the 04 special support to establish "high-grade numerical control system technical standard system" the result has got international approval, can help the domestic numerical control system enterprise products promotion.
On Nov 21, the three departments jointly issued a document calling for improving the independent design and system integration capabilities of major technical equipment, including high-end CNC machine tools. Since this year, with the upgrading of the processing demand in the downstream field, the sales volume and orders of high-end CNC machine tools represented by the five-axis
Machining Center began to increase.
