Wind power machine manufacturers worrisome, parts enterprise contrarian annunciation
As of August 28, the A shares of wind power plate 45 enterprises have been released in 2012, reported that most of the wind power equipment manufacturing enterprises. From the disclosure of performance data, wind power machine manufacturers in the first half continued a declining trend since last year, net profit fell over 50% in general. It is worth noting that the major parts manufacturers in net profit showing contrarian growth situation, the wind power industry clouded injecting a trace of warmth.
The analysis pointed out that the field of wind power machine manufacturing has been overcapacity in the last couple of years, the rapid decline in the influence of the downstream market demand, low-price competition in the next time will continue to drag on business performance. Currently engaged in less wind power components manufacturing enterprises, a high degree of market segmentation, in order to effectively avoid the impact of the vicious competition in the industry.
Machine manufacturers worrisome
Currently, Goldwind, Sinovel, Hunan Electric shares and Dongfang Electric wind power machine manufacturing leading enterprises have showed in the first half performance. The data show that these enterprises in the first half year net profit attributable to shareholders of listed companies are fallen sharply, the industry remains in the doldrums profound impact.
Goldwind first half operating income of 3.48 billion yuan, down 32.93%, and the ownership of a listed company's shareholders a net profit of 0.72 billion yuan, a year-on-year decrease of 83.03%; basic earnings per share of 0.0267 yuan, the report shows. Sinovel in the first half operating income of 3.09 billion yuan, down 42.04% vested shareholders of listed companies net profit of 025 million yuan, down 96.25%, basic earnings per share of 0.01 yuan. In addition, the wind power business accounted for more than 80% of the Hunan Electric shares, net profit fell 95.86 percent year-on-year in the first half.
The wind power industry market competition intensified, resulting in the complete machine manufacturers fan sales prices have decreased, also a marked decline in gross margin. The industry two leading Goldwind and Sinovel, for example, the first half of the Goldwind fan sales revenue year-on-year decline of 37.09 percent to 3.199 billion yuan, accounting for 92.30% of operating income, gross margin decreased by 9.13 percent year-on-year. 1.5MW products year on year revenue dropped 44.52%, gross profit declined 7.75%; 2.5MW product revenue increased slightly by 0.4%, gross profit increased by 13.59% year-on-year. Sinovel 1.5MW wind turbine operating income in the first half down by 77.35 percent, 16.91 percent decline in operating margin fell to 2.68%. Its flagship 3MW wind turbine gross margin representing a decrease of 17.64% 4236.2% surge in operating income, up to 1.89 billion yuan.
It is worth noting that some machine manufacturers overseas markets to expand the apparent efficacy. Sinovel overseas sales volume reached 281 million yuan, up by a substantial growth in the proportion of total sales revenue from the year 2011 to less than 1% to over 9%. Hunan Electric shares in overseas markets in the first half year-on-year revenue surge 117.37%. In contrast, and Goldwind have done, but the first half of the overseas sales revenue fell to 2.19%.
Parts enterprises contrarian Annunciation
Dismally, compared to the machine manufacturer specializing in the core components of the blades, wind tower business days better than many. In the first half, including the Tianshun wind and Tatham wind tower manufacturing leading net profit rose more than 50%. Sinoma Science and Technology, Jiuding new material, such as leaves manufacturers in the first half performance, although not currently growth, but compared to last year, performance decline has moderated.
Domestic market wind power machine product gross margin record lows, parts gross margin to Jingxian growth situation. Tianshun wind energy in the first half net profit up 75%, wind tower product sales revenue surge 84%, the steady improvement in gross profit margin of 5 percentage points, to 25.91%. Another the family traditions tower leading Tatham wind energy product gross margin in the first half, an increase of nearly 10 percentage points, to 21.42%. Sinoma Science and Technology in the first half of the blade manufacturing large blade sales income to reverse the declines of 2011, an increase of 11.26%, and amounted to 1.113 billion yuan.
The analysis pointed out that the current domestic wind power equipment manufacturing enterprises most machine manufacturers, components supporting enterprises relatively small, relative to the whole market, wind power parts enterprises competitive level is relatively small. The wind energy Tatham said in its semi-annual report, the first half of the year the company achieved positive results in the domestic market layout, market share steadily.Prev News：>
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