Domestic CNC machine tool enterprises reported a general decline in profit

In the first half of 2012, Shenyang CNC machine tools achieved operating income of 5.172 billion yuan, a year-on-year increase of 18.61%; net profit attributable to the parent company was 91.67 million yuan, a year-on-year decrease of 43.47%. In the first half of the year, Kunming CNC machine tools, another listed company under the Shenyang CNC Machine Tool Group, achieved operating income of 755 million yuan, a year-on-year increase of 14.15%; operating profit of 94.04 million yuan, down 15.02% year-on-year. Although the performance is similar, the reasons are different. The sharp decrease in the profit of Shenyang CNC machine tools in the first half of the year compared with the same period of last year was mainly due to the significant decrease in government subsidies and the year-on-year decline in net profit. After deducting abnormal profit and loss, the net profit attributable to shareholders of listed companies was 78.64 million yuan, a year-on-year increase of 108%. In addition, Shenyang CNC machine tool management costs are high, which is another factor that erodes profits. Although the company's expense ratio during the first half of the year was 17.48%, which was lower than the 20.3% at the end of the previous year, it still belongs to a higher level. The Kunming CNC machine tool said that the decline in sales of floor-milling and boring machines made the company's operating revenue growth rate lag behind the industry average. In the first half of the year, the company's operating income increased by 14.15%, of which the average horizontal milling and boring machine revenue increased by 29.87% year-on-year, and the floor-standing milling and boring machine revenue decreased by 21.27% year-on-year. As a result, it can be said that the proportion of traditional products increased, while the gross profit was large. The unsatisfactory sales of the floor milling and boring machine caused the company's overall gross profit to decline, affecting the company's profit margin. The performance of Huadong CNC is somewhat similar to that of Kunming CNC machine tools. In the first half of the year, Huadong CNC Company achieved operating income of 325 million yuan, a year-on-year increase of 0.10%; operating profit of 0.335 billion yuan, down 45.43% year-on-year. According to the announcement, from January to June, the proportion of sales of small and medium-sized CNC machine tools increased, and the proportion of sales of large-scale CNC machine tools decreased. Since the average operating gross profit of small and medium-sized CNC machine tools was lower than that of large-scale CNC machine tools, the overall operating gross profit decreased year-on-year. And as the scale of operations expands year by year, the expenses for financial expenses and other periods increase significantly. At the same time, Weihai Huadong Heavy Equipment Co., Ltd., a wholly-owned subsidiary of the company, was in the preparation stage. Its holding subsidiary Weihai Huadong Heavy Industry Co., Ltd. was in the initial stage of production and had a large loss, which had an impact on the efficiency of the consolidated accounting statements. In the past two years, thanks to the development of high-speed rail, the performance of East China CNC has been very eye-catching. However, due to the impact of current policies on high-speed rail equipment, Huadong CNC sold only one high-speed railway CNC gantry CNC machine tool in the first half of the year, while sales of 6 units in the same period last year reduced sales revenue by 62.52 million yuan, affecting profit reduction by more than 25 million yuan. Although Shenyang CNC machine tool data performance is general, but in the announcement, Shenyang CNC machine tools emphasize that this year, the revenue contribution of CNC machine tool products continues to increase, accounting for 64% of CNC machine tool revenue. The revenue of CNC machine tools achieved a substantial increase of 3.039 billion yuan, a year-on-year increase of 20.55%. The income of ordinary lathes and ordinary trampolines increased slightly, reaching revenues of 753 million yuan and 456 million yuan respectively. In addition, Shenyang CNC Machine Tool Co., Ltd. is actively promoting the development of products towards integration, intelligence and customization, and promoting forward-looking technology research and development. In the near future, the company's products focus on high reliability, intelligence, energy conservation and environmental protection, and the future will be realized. High speed, composite, and precision. At present, the company promotes product upgrading in accordance with the established guidelines, and has formed a pattern of CNC machine tools represented by the new five categories. At the same time, the CNC machine tool functional components and vertical machining center industrialization project will be put into production. With the smooth production of CNC machine tool components, it is expected that CNC machine tools will achieve faster development and further contribute to the company's revenue.

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