In the first quarter, the added value of the instrumentation industry was lower than the national industrial level

According to the reading of the China Business Council's Equipment Manufacturing Business Climate Index, the business climate index in the first quarter of 2012 decreased by 1.7 points from the previous quarter; the early warning index dropped by 16.7 points and fell into the “light blue light area”, in which the production composite index, total export volume, and total profit And several indicators of product sales revenue have fallen into the "blue light area." From the perspective of the industry performance in the first quarter, the growth rate of production and sales fell sharply, and the profit rate of enterprises fell, with nearly a quarter of the companies losing money. At the same time, market demand for major products was weak, export growth fell to single digits, new orders for businesses decreased, and there was little room for imagination in the market in the near future.

According to data released by the National Bureau of Statistics, the industrial added value of the country in the first quarter increased by 11.6% year-on-year, while in the sub-industries of the equipment manufacturing industry, other transportation equipment, general equipment, instrumentation, and electrical machinery such as automobiles and railway ships were all lower than the national total. Industrial level. The fall in the production growth of these heavy industries has led to a sharp decline in the growth rate of equipment industry production.

The production and sales situation of the main product market is relatively deserted. In the first quarter, the output of automobiles was basically the same as that of the previous year. From January to February, the output of steam turbines for power stations decreased by 28.2%; the output of large transformers decreased by 3.8%, and the power capacitors decreased by 20%. In general equipment, CNC metal cutting machine tools and CNC metal forming machine tools decreased by 20.7% and 36.1%, respectively. There is no sign of recovery in ship demand and ship prices, and China's shipbuilding industry will enter a period of depth adjustment. From January to February, the order volume of new ships decreased by 40.1% year-on-year; the amount of hand-held orders dropped by 24.7% year-on-year. There are also few bright spots in overseas markets. In the first quarter of this year, China’s export of machinery and equipment accounted for US$ 83.96 billion, an increase of 12.4%, an increase of 20 percentage points from the same period of last year, and the export situation was very severe.

In the same period of decline in production and sales, and lack of exports, in March, PPI fell by 0.3% year-on-year, of which the prices of extractive industries and raw materials rose by 3.7 percentage points and 0.8 percentage points year-on-year respectively, while the ex-factory prices of processing industries fell by 2 percentage points. The bargaining power of the manufacturing industry has weakened again. The decline in output and the fall in prices indicate that the market demand for products has been sluggish, the scale has shrunk, and the reduction in bargaining power has led to the shrinkage of the added value of the industry.

Judging from the situation of some enterprises in the equipment industry in the first quarter, the problems are mainly concentrated in the following aspects: First, tight liquidity, some companies that produce large-scale equipment such as machine tools, heavy-duty and power generation equipment, are unable to pick up due to insufficient liquidity of users. Caused the company to occupy a higher capital; Second, companies generally reflect the larger increase in accounts receivable, resulting in tight corporate funds; Third, the phenomenon of oversupply of some products is outstanding, excessive market price competition, the company is difficult to digest the rising cost of raw materials and labor Pressure causes the profit rate to continue to decline.

The contradiction between overcapacity in some industries is prominent, and the efficiency of enterprises is declining. Enterprises are required to exert their enthusiasm for industrial restructuring, and it is also necessary to externally provide a favorable market environment conducive to enterprise adjustment.

In general, although the current prosperity of the equipment manufacturing industry has significantly declined, it is much more moderate than during the international financial crisis. In the first quarter, the total investment in fixed assets of the equipment manufacturing industry exceeded 500 billion yuan, and the annual investment is still expected to exceed 3.5 trillion yuan. The internal demand of the industry remains large. At the same time, taking into account the influence of random factors, the intensive introduction of the "12th Five-Year Plan" for the development of equipment manufacturing industry in the first quarter also boosted market confidence. Since March, as the weather has warmed up, most of the projects have been resumed, and industries with higher booms such as coal machinery, oil extraction equipment, and offshore engineering equipment will maintain relatively high growth.

In addition, in the second and the second half of the year, it is also expected that factors such as the recovery of the auto market, the upgrading of power grids and the construction of UHV backbone grids, the commencement of regional municipal planning and construction projects, the restart of nuclear power investment and the implementation of high-speed rail projects will be favorable factors for the demand of the industry. With the implementation of various planning projects and the expansion of domestic demand policies, the domestic market for equipment manufacturing is expected to pick up.