The concentration of the agricultural machinery industry into the structural adjustment period will gradually increase

[ China Agricultural Machinery Industry News ] In 2016, the agricultural machinery industry data released, the growth rate of agricultural machinery industry in 2016 increased by 7.7%, down 0.7% from the previous year, and the growth rate declined significantly. In 2016, the total revenue of the main business of agricultural machinery enterprises above designated size was 451.639 billion yuan, an increase of 5.8% over the same period of the previous year and 1.64 percentage points lower than the growth rate of the national machinery industry.

The total profit of agricultural machinery enterprises above designated size was 25.524 billion yuan, an increase of 351 million yuan over the previous year, an increase of only 1.39%, which was 4.15 percentage points lower than the growth rate of the national machinery industry. In 2016, the growth rate of income and profit of the agricultural machinery industry showed a weak state, reaching the bottom of the decade.

The concentration of the agricultural machinery industry into the structural adjustment period will gradually increase

The main points

1.2016 Agricultural machinery industry summary: tractors, harvesters are in the adjustment period, new products become new growth poles.

In terms of tractors, according to the statistics of the National Bureau of Statistics, in general, 62,979 large-scale tractors were produced, down 18.92%; 566,914 units were produced, down 6.59%; and small-scale production was 1,355,299 units, down 2.85%. According to the statistics of the China Agricultural Machinery Industry Association, the output of tractors in the industry's backbone enterprises fell by 9.0%. Among them, the output of small four-wheel tractors decreased by 15.58%; the output of walking tractors decreased by 16.55%; the output of large and medium-sized tractors decreased by 7.25%. At the same time as the output of tractors declined, the horsepower segment further increased. The fast-growing tractor is still a high-powered tractor. In 2016, the 150-horsepower large-scale tractors grew rapidly, providing strong support for the transformation of agricultural production methods.

In terms of harvesters, in general, corn harvesters produced 95,033 units, a decrease of 24.17%; and feed harvesting machinery production increased by 5.02%. According to the statistics of the China Agricultural Machinery Industry Association, the industry's backbone enterprises produced 46,000 self-propelled wheel grain harvesters, a decrease of 11.12% over the previous year. In 2016, the 7 kg feed horizontal axis grain harvester outperformed the growth rate by more than 300%. First, the wheeled grain harvester industry has a very high concentration, concentrated in five enterprises, and their product structure adjustment has achieved great results. Second, the 7 kg wheat machine product upgrade work is solid, and it has been welcomed by users when it is put into the market, and it has quickly become a wheat harvest. The main model. The corn combine harvester showed a cliff-like decline in 2016. In 2016, the backbone enterprises produced 41,000 corn machines, a decrease of 43.54%, and sold 59,000 corn combine harvesters, a year-on-year decrease of 13.78%. The piggyback corn harvester basically exited the market. The output of paddy field machinery has increased significantly. In 2016, the backbone enterprises produced 105,600 crawler-type rice harvesters, an increase of 29.58%. Small rice harvesters adapted to the hilly areas of the south have seen rapid growth. Due to the demand for rice straw treatment and the changes of users, the semi-feeding rice harvester also showed significant growth in 2016, and the output increased by 79.83%. The rice transplanter produced 60,000 units, an increase of 11% over the previous year.

New products in 2016 have played a positive role in stabilizing growth. The production of grain dryers was 14,000 units, an increase of more than 30%; the output value of balers increased by 11.60%; the growth of silage harvesters was also relatively fast; the output of parts and components increased by 6.26%; the output of agricultural and sideline food processing machinery increased by 11.98%. In 2016, the export value of agricultural machinery industry was 29.332 billion yuan, which was the same as the previous year. The backbone enterprises of the industry exported more than 18,928 large and medium-sized tractors, down 12.54% year-on-year. Among them, the enterprises that export more tractors are Lovol Heavy Industries.

2. Enterprise investment is more focused on equipment upgrades, manufacturing capabilities, and policy funding to support the development of key product markets.

In 2016, the investment of agricultural machinery enterprises continued to decline. On the one hand, it reflected that the industry was in the stage of slow down development. On the one hand, it also reflected that the investment of enterprises was more cautious, and more funds were used for equipment upgrade and manufacturing capacity improvement. The industry completed fixed assets investment of 157.109 billion yuan, a year-on-year increase of only 2.44%, much lower than the previous years. However, the state budget invested 977 million yuan, an increase of 51.37% over the same period of last year. The government's financial support for the agricultural machinery industry continued to grow. In 2016, the National Development and Reform Commission gave relatively strong support to power shift tractors, cotton pickers, and high moisture content corn kernel harvesters.

3. Investment suggestion: It is recommended to pay attention to the opportunity of the adjustment period to accelerate integration.

After the golden decade of 2004-2014, the agricultural machinery industry has ushered in a structural adjustment period in the past two years. On the one hand, the concentration of the industry will gradually increase, and large-scale agricultural machinery enterprises will gradually win in the industry integration; on the other hand, Under the guidance of policies and subsidies, the adjustment of the structure of agricultural machinery products, the new products of the reserve will cover the key enterprises of the agricultural machinery and other key sectors such as grain, oil, cotton and sugar. Give the neutral rating of the agricultural machinery industry, it is recommended to pay attention to the opportunity to accelerate the integration of the adjustment period leader, it is recommended to pay attention to Jifeng Agricultural Machinery, Zoomlion, Yituo shares.


(Original title: The agricultural machinery industry is in the adjustment period)