In the first half of 2012, China's economic growth continues the momentum of 2011's decline and the growth rate of investment in fixed assets continued to drop, thus Chinese construction machinery industry faced a grim situation. The magnitude and duration of the production and sales growth rate dropped more than expected. The 2012 China Construction Machinery Industry Association data showed: 14 major manufacturers’ total automobile crane sales were 13,000 units in January-June 2012, down 43% and overall industry sales of excavators were 81,000 units, down 39%.
According to the semi-annual statistics in the report of the major listed companies in construction machinery industry, over 70% of the construction machinery business revenue fell, and only Zoom lion (000157) and Sany Heavy Industry (600031) achieved positive growth in revenue year-on-year. Zoom lion net profit growth was 21.47%, the top in the listed eight companies, while the remaining seven companies all got negative growth.
